Buying a House? Don’t Forget to Factor in Property Taxes!

You’ve found the dream house, the price is right and you are ready to purchase. Make sure you stop and consider additional expenses first. The cost of homeownership goes beyond just your mortgage payment. For instance, property taxes and flood insurance. In this article we are going to focus on property taxes. Did you know that Florida’s property taxes average 1.1% of a home’s assessed value? This tax helps support state and local government funding, since Florida doesn’t impose a personal income tax. It’s imperative that you discover how your property tax bill works. Once you understand how your property...

WORD OF THE WEEK- ESCROW

WORD OF THE WEEK- ESCROW If you’ve ever heard a discussion on real estate, chances are the word “Escrow” has been thrown around. Perhaps you have a vague understanding that it has to do with holding money, but we will break it down for you here. There are two different meaning for the word “escrow” depending on what part of the country you are in. The overall definition is: “To place money or legal documents in the control of a third party until specific conditions are met”.  In the Western US, when someone says they are “in escrow”, they are...