This information was gatherd using the Flagler MLS. Information gathere Feb 28, 2008
Active Residential Homes
Listings: 1829
Avg List Price: $281,116
Lowest: $84,900
Highest: $2,500.000
# that have gone pending since Feb 1, 2008: 91
Sold since Feb 1, 2008 9
Avg days on market: 152
Avg List Price: $210,956
Avg Sale Price $191,722
Low Sale Price $ 130,000
High Sale Price $375,000
Total active SFR in Palm Coast currently Listed as Short-Sale: 396
Palm Coast Lots
Active Listings: 1277
Average List Price: $73,241
Low: $24,900
High: $495,000
On January 29th Amendment 1 titled “Property Tax Assessments; Limitations on Property Tax Assessments” was approved.
You can visit our local Flagler County Propery Appraisers Website, where the following information was found, for the Application at:http://flaglerpa.com/
Benefits that have come to taxpayers through this Amendment are:
Increased homestead exemption-Homeowners that are currently receiving the homestead exemption will automatically receive the increase in their homestead exemption without taking any action.
Protability of the Save Our Homes benefit-Portability is the ability to transfer the dollar benefit of the “Save our Homes Benefit” homestead exemption from a prior homestead to a subsequent homestead. Meaning, you can transfer the difference between just and assessed value of a previously homesteaded home in 2007 to a home you are currently claiming as your homestead, to receive a break of up to $500,000.
Market Value from prior home – Assessed Value from prior home= Portable Amount
If you receied the homestead exemption in 2007 on a home that you sold or otherwise abandoned during 2007, and purchased a new home on or before Jan 1, 2008, you are able to transfer all or some of that benefit to your new home. You must apply by March 1, 2008 in order to receive this benefit by filling out a DR-501T.
Here is how you figure it out:
If you are upsizing:
Certified Market Value(CMV) of EXISTING homesteaded property-Certified Assessed Value (CAV) of EXISTING homesteaded property=PORTABLE AMOUNT (up to $500,000)
CMV of NEW homesteaded property-Portable amount from PRIOR homesteaded property=New assessed value for NEW homesteaded property.
If you are downsizing:
CMV of EXISTING homesteaded property-CAV of EXISTING homesteaded property=PORTABLE AMOUNT (up to $500,000), then divide this portable amount by the CMV of EXISTING homesteaded property=The percentage eligible to “port” to new property
CMV of NEW homesteaded property x Portable percentage from PRIOR homesteaded property = The portable amount from portable percentage from PRIOR property
CMV of NEW homesteaded property – amount from portable percentage from PRIOR property = the New assessed calue for NEW homesteaded property.
It sounds more confusing than it actually is. You can always call the Flagler Property appraiser if you need help understanding.
$25,000 exemption for tangible personal property- this applies mostly to busnesses, rental properties and mobile homes and is an assessment for the equipment fixtures, and furniture used. Any person with any questions can contact the Property Appraisers TPP Div at 386-313-4150.
10% annual assessment limitation for non-homestead property-This does not apply until next year (2009). You will have to apply for this however the FDOR has not finalized the application as of yet.
If you’ve driven north on US 1 from Palm Coast, then you’ve seen the construction going on on both sides of the road. Driving by it looks like walking trails with raides boardwalks…BUT there is so much more planned!
This is 4700 acres of mixed use development. That’s over 3x the size of the Town Center. This area will include the Saawmill Creek golf course, several residential & commercial developments. Big box retail, a K-8 school, parks, 2 fire stations etc. are also soon to come.
A good faith estimate should be provided to you within 3 days after applying for a home loan. This estimate will usually amount to somewhere between 3-5% of the sale price.
Some common fees and settlement costs you will find on the statement are:
Origination fees:
Property Appraisal
Credit Report
Discount
Application
Lender’s Inspection
Mortgage Insurance App.
Processing
Underwriting
Rate Lock
Wire Transfer
Mortgage Broker Fee
Settlement costs include:
Title Search
Attorney
Notary
Document Preparation
Survey
Transfer Tax
Recording
Title Insurance
City & County tax stamps
Pest Inspection
All prepaids; ie. interest, taxes, insurances, etc.
It is required by the Federal Real Estate Settlement Procedures Act that lender provide this to you within the time stated.
