16August2010
Posted by admin under: Lower Keys Real Estate.
Benefits of Owning a 2nd Vacation Home
Looking for a tropical get-away that does not require a passport? Look at the Florida Keys. Stretching from around fifteen miles south of Miami to less than one hundred miles from Cuba, the Florida Keys offer a multicultural living and vacation experience to fit every budget.
Financing a Tropical Dream
Once reserved for the rich and the famous, a second vacation home can now be part of a smart investment portfolio. Mortgage rates are low, making financing a home in the Florida Keys more affordable than ever. Also, unlike the rich and the famous, the average individual is likely to rent his vacation home out to tourists when he is not using it himself.
Waterfront property is especially popular as a vacation spot. It offers the amenities of the local community – restaurants, attractions, transportation, security – and the beauty of communing with nature. The income from these rentals often covers the entire mortgage, enabling the owner to enjoy a free vacation in the Keys whenever he pleases.
Waterfront property also tends to appreciate in value over the long term due to its lasting popularity. The savvy homeowner of a Florida Keys waterfront vacation home is also building equity while he vacations there and rents it out – equity that can either be cashed in at retirement or lived in on a full-time basis.
Peace of Mind
Ask any therapist. The soothing sounds of the ocean provide the perfect background for relaxation. With a vacation home in the Florida Keys, no tapes or compact discs are needed.
Simply open the windows to enjoy the ocean’s relaxing sounds.
Also, as stress is a significant risk factor in elevated blood pressure, a vacation home in the Florida Keys benefits the homeowner physically as well as mentally.
Stress melts away with the ebb and flow of the tide, with the beauty of the sun rising or setting over the ocean, with the gentle ocean breeze.
One can almost feel his blood pressure lower with the laid back lifestyle. Or, if the need for some company arises, the Florida Keys offer a variety of restaurants, museums, parks, and attractions to amuse and entertain.
Add to the scenic view, soothing sounds, and peace of mind that comes with knowing that. No matter how stressful life becomes, a little slice of paradise awaits. It is a reward at the end of the summer, or at the end of a career.
Article courtesy of Diane Corliss
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
Diane@ DianeCorliss.com
16August2010
Posted by admin under: Lower Keys Real Estate.
Some of the Tax Advantages of Owning a Second Home
If you own a second home or are thinking about buying one, they can in fact provide you with tax benefits.
First you will need to determine how you plan to use the property and then determine if will fit in with Internal Revenue Service (IRS) regulations.
For example.
If you live in your vacation home for at least a portion of the year, it will fall into the residence category, but if you rent it to others for the entire year, it will be looked on as an investment or rental property instead.
Some stipulations:
Many properties—such as a condominium, cabin, duplex, detached house, recreational vehicle, or even a boat—can qualify as a tax deduction. (The law states that they must have a kitchen, a bathroom, and a sleeping area.)
Also, IRS regulations stipulate that your vacation home will qualify as a residence if you spend 10% of the rental period on the premises, or a minimum of 14 days annually.
By way or contrast, if you rent your second home for less than 14 days, the income from the rental does not have to be reported on your tax return, and it is tax free.
However, if you rent the property for a longer period, the rental income must be reported, but allowable tax deductions can also apply.
However, IRS rules will not allow you to claim a loss on a second home, and the best you can hope to do is to break even.
Your income plays a role:
If your expenses exceed your income on a rental property, you can offset the loss with passive income.
If your yearly income is below $100,000, you can claim as much as $25,000 in losses.
If your income is higher, the amount of the allowable loss is less, and if your income reaches $150,000, it is totally eliminated.
Over a number of years, you may also be able to deduction depreciation on your second home’s value, which reflects wear and tear on both the home and contents, rather than land value.
Before buying a vacation home, you absolutely should consult with your accountant to discuss how IRS regulations and tax advantages will apply in your particular situation.
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
16August2010
Posted by admin under: Big Pine Key Homes for sale.
This 2003 ground level 2176 sq ft 3 bedrooms 3 baths, concrete seawall w/boat basin lot 120 x 85, beautiful knotty pine interior, large living room, kitchen, dining room. This home is not a drive by, great location, private area.
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
16August2010
Posted by admin under: Little Torch key Homes for sale.
Great Location Canal front 2 bedroom 1 bath home, ocean side, no bridges, clean and neat, great dockage.
Price: $389,500
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
14July2010
Posted by admin under: Lower Keys Real Estate.
Why a Lifestyle Change Can Benefit Your Health
There appears to be a consensus that an urban life style is stressful, expensive and perhaps unhealthy. Cities like New York or Chicago may provide certain economic opportunities, but the question is, at what cost? Most sense that the pace of life in these cities is too challenging and if other living opportunities arise, many are opting for a different (more relaxing) life style. For instance the populations of New York, Philadelphia, Chicago and most other larger urban centers has declined over the period from 1950 through 2000, despite the fact that general population within the U.S. has increased.
How Healthy is City Life?
There may be many reasons for this decline, but chief among them are stress, cost, noise and air pollution. All of these factors have taken a toll on not only the total population count, but the overall well being of the city dweller, as well. A recent book, entitled Unhealthy Places by Kevin Fitzpatrick and Mark LaGory zeroes in on the ecology, sociology and general unhealthiness of urban life. Certainly, virtually anyone with a daily newspaper or seeing the evening news can see the number of deaths attributed to crime or traffic.
While these statistics may actually indicate a decrease, the general perception however, is that living or working in large city is either dangerous or unhealthy. Economic factors also play a role in the population decline. Many city dwellers in years past have fled the large urban centers for the “safety” and relative security of the suburbs. However, urban sprawl has also assailed the safe harbor of the suburbanite and many in suburban areas bordering the city are seeing their taxes and crime spiking upward.
The Effects of a Rise in Stress
This is particularly true of the suburbs surrounding cities like New York or Boston with state income and real estate taxes continuing to rise. With a continuing increase in stress factors, it has been pointed out that many other bad lifestyle choices contribute to a decline in overall health. According to Science Daily.com, “When people are under chronic stress, they tend to smoke, drink, use drugs and overeat to help cope with stress. These behaviors trigger a biological cascade that helps prevent depression, but they also contribute to a host of physical problems that eventually contribute to early death.”
A Change in Location Venue Will Help
How best to address these problems? Many are solving the problem by simply moving away from it entirely, mostly to the southern states. Whether they can find useful work or simply retire is certainly a factor. However, with population growth within the southern states continuously rising, various industries will undoubtedly provide employment for many. This movement away from urban centers to the south has been occurring over the last several years. As indicated below from 1990 through 2000, the populations of the southern states rose substantially compared with New York and Massachusetts:
• Florida increase: 3,044,452 a change of +23.5%
• Georgia increase: 1,708,237 a change of +26.4%
• North Carolina increase: 1,420,676 a change of +21.4%
• South Carolina increase: 525,309 a change of +15.1%
• New York increase: 986,002 a change of +5.5%
• Massachusetts increase: 332,672 a change of +5.5%
Notice that the two northern states listed have the highest overall state taxes. With declines in tax revenues which are tied to the weak economy, these states have imposed even more taxes! So many more northern state dwellers are fleeing southward. Most who have moved southward feel that the move overall was worth it for both health and economic reasons.
Florida’s is a great place to consider.
Many from the north are attracted to Florida for several obvious reasons: no state income taxes, relatively low real estate taxes and the fact that there are real bargains to be found in real estate. These features makes Florida an ever more attractive place to live and work.
If one is searching for vacation and/or home value, the Florida Keys offer an excellent place to live, work or retire. The Florida Keys, possess a special charm rooted in a history with a perpetual vacation mind set featuring excellent fishing, diving and boating. The Keys is an excellent choice and there are properties to be found whatever your taste and budget is.
Courtesy of N. B. Schklair
14July2010
Posted by admin under: Cudjoe Key Home for sale.
Full Seawall, 3 bedroom 2 bath home, high ceilings, crown molding, this is a turn key home, immaculate, hurricane impact resistant windows, many extras in this home.Price: $479,900
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
Diane@ DianeCorliss.com
14July2010
Posted by admin under: Cudjoe Gardens Waterfront home for sale.
Deep Water Access, ground level CBS 2 bedroom 2 bath home, elevation is 10+, pool is heated and chilled, full seawall, tropically landscaped, davits,pocket doors open to a screened in porch overlooking the pool. This is a must see home.
Price: $795,000
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
Diane@ DianeCorliss.com
14July2010
Posted by admin under: Cudjoe Gardens Waterfront home for sale.
Deep Water Access, no bridges, CBS beautiful 3 bedroom 2 bath home sits on a 12,000 sq ft lot, kitchen is accented with granite countertops beautiful decorative fans, sliders that walk onto the screened porch then continue out to the paver walkway that leads to your 8,000 ft dock and boat lift
Price: $799,000
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
Diane@ DianeCorliss.com
25June2010
Posted by admin under: Big Pine Key Homes for sale; Lower Keys Real Estate.
Below are My listings
25June2010
Posted by admin under: Single Agency.
Single Agency
Single Agency and what it means to you
Florida law requires all Real Estate Agents to explain the “Agency Relationship” options available to Sellers and Buyers of residential real estate.
The law established three types of agency:
* Single Agency
* Transaction Brokerage
* No Brokerage Relationship
Single Agency: The policy of Coldwell Banker Schmitt is to provide the greatest possible degree of service to our clients, which only occurs in a Single Agency relationship.
For that reason, the company adopted Single Agency as the primary and preferred relationship for working with our clients.
As a Single Agent, we provide you with the full spectrum of services including the fiduciary duties of loyalty, confidentiality and obedience. The benefit to you is that we place your interest above all others, including our own!
While we believe this type of relationship is what
our clients expect and deserve, most Real Estate Companies have opted not to adopt Single Agency as the primary and preferred relationship for working with buyer and seller. They have chosen Transaction Brokerage, which, by law, is the assumed relationship between a buyer and agent or seller and agent unless they agree to Single Agency or a No Brokerage Relationship.
Transaction Broker: As a Transaction Broker, agents are required to facilitate the transaction by assisting both the buyer and seller, and not represent one party to the detriment of the other. They provide fair and honest dealing, skill, care and diligence, accounting for all funds, and disclosure of all known facts that materially affect the value of a property in which you have interest. The reason most companies have adopted Transaction Brokerage is for the reduced level of liability versus Single Agency.
No Brokerage Relationship
The agent owes you three duties:
* To deal with you honestly and fairly;
* To disclose all known facts that materially affect the value of the property which are not readily observable to you;
* And, to account for all funds entrusted to the agent.
The key point for the No Brokerage Relationship (non-representation) is to not disclose any information you want held in confidence until entering into an agency relationship.
Diane Corliss
REALTOR®GRI
Coldwell Banker Schmitt
29967 Overseas Hwy.
Big Pine Key, FL 33043.
Direct: 305-849-0934
Office: 305-872-5285
Fax: 305-768-0660
Diane@ DianeCorliss.com
