After your initial application for Homestead Exemption has been approved, it automatically renews each year unless there is a change of ownership or eligible use of your homesteaded property. Each January, our office mails a Homestead Renewal Notice and “Change Card” to all Homesteaded properties. Florida law requires the property owner to notify the Property Appraiser of any change which may affect homestead eligibility. This Change Order Card provides an efficient way to communicate these important changes to our office.

If there are NO changes to the use and/or ownership of your property, simply keep the card as your receipt verifying that your Homestead Exemption has automatically renewed for another year. However, if there are changes, please mark the

Interest Rates in Florida are in the 6% range.

If you look at the average interest rates for the past 50 years, a 6% rate doesn't seem so bad.

Just look at the chart below.

Many buyers are waiting for Condo prices to fall and there be a Housing Crash.

Rising interest rates and slightly lower demand in the market has caused many people to believe that a housing crash is imminent. Despite some signs that the market is slowing down, you shouldn't get too worried or excited about the possibility of a housing crash.

Recent Economic and Market Changes
Inflation in the U.S. has been on the rise since mid 2021 and reached a 40-year high of 8.2% in September. To combat the increase in inflation, the Federal Reserve has increased interest rates multiple times throughout 2022, making it more expensive to borrow money. These rapid rate changes directly impact the housing market - mortgage rates have doubled this year, which has

2023 Homestead Exemption

All qualified Florida residents are eligible to receive a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots. To qualify for Homestead Exemption, you must own and make the property your permanent residence on January 1 of the year for which you are applying for this valuable exemption. Pursuant to Florida law, all assessments and exemptions are based upon the status of the property on January 1. If you purchased and/or made the property your permanent residence in 2022 and have not applied for Homestead Exemption, you can apply for 2023 exemptions at any time – there is no need to wait until 2023 to file your exemption application with the property appraiser’s office. You can easily

Fake Sellers, Fake Landlords: What’s Real Anymore?

The advice for anyone you meet in real estate? Trust but verify – which means don’t fully trust anyone who isn’t your mother. Scammers continually find new ways to separate you, your buyer or your seller from their money.

ORLANDO, Fla. – Florida Realtors has sent out several articles concerning the uptick in scammers, whether that be a fake seller of vacant land or a fake landlord who doesn’t actually own the rental property or tips on how to avoid being scammed. Watch for red flags so this doesn’t happen in your transaction. (Also see: Scam Involving Sale of Vacant Lots is Back: Don’t Get Fooled Again!) There is also the twist where scammers fraudulently change the corporate

Owners of Condo Units in Florida may be forced to sell their Condos in the near Future (Milestone Inspections).

New legislation in Florida may disrupt the condo industry as we know it today. The new post-Surfside rules will force some owners to weigh the cost of needed repairs against the benefit of moving and selling. It could become an unpleasant choice for many South Florida condominium owners, ahead of a new state building inspection law driven by last year’s catastrophic collapse of the Champlain Towers South building in Surfside. By the time Florida’s updated condo safety law goes into effect in 2025, many owners may have decided that it’s too costly to stay in their decades-old, high-rise condominiums.

For tens of thousands of Florida

It’s easy for non-real estate people to watch news stories and think, “The market’s crashing.” But it’s just slowing during a market correction and still up year-to-year.

The Year 2021 was a record year for real estate in South Florida, yet the last eight months of 2022 have been about the market slowing. Questions linger as to how bad the decline in the market is and whether it’s headed for a crash.

There’s little doubt that the market has slowed over the past six to eight months: Closed sales are down as buyers grapple with rising interest rates, it’s taking longer to sell a home, and bidding wars are not as common as they once were.

That doesn’t necessarily mean that the South Florida market is crashing.

“There is a lot of confusion when

Renting a Condo as a Short Term Rental may not be as easy as it sounds

Regulations, HOA rules, insurance and taxes need to be considered before you buy a condo to use as a Short Term Rental.

Online condo rentals via Airbnb and VRBO, has become increasingly popular especially in Florida. A lot of owners rent for a few months to help defray the costs of ownership and allowing the owner to still use their condo for part of the time.

While it can be very rewarding financially to rent out your condo on a short time basis, there are several risks and drawbacks associated with renting out your condo, especially to complete strangers. Considering these risks before deciding to rent can save condo owners many headaches and possible future expenses. Most

If you are buying a condo or home in the Town of Hillsboro Beach, you may need to contact someone in City Hall.

You can always go to www.townofhillsborobeach.com.

Or see the information provided below:

POLICE DEPARTMENT - 911 (EMERGENCIES)

Hillsboro Beach Police Department

Chief Jay Szesnat  |  jszesnat@townofhillsborobeach.com

Phone: (954) 427-6600 (24/7) Fax: (954) 427-7428 PAGE 3

FIRE/RESCUE/MEDICAL EMERGENCY - 911 (Emergencies)

Fire Services - Provided by the City of Deerfield Beach

Broward Sheriff’s Office via HBPD (954) 427-6600 (24/7)

TOWN HALL Phone: (954) 427-4011 | Fax: (954) 427-4834

WATER DEPARTMENT

Billing Questions: (954) 603-0030

Water Emergencies: (954) 427-6600 (24/7) (via HBPD)

Water Quality and

Information to Help You in the Aftermath of Hurricane Ian

The following are resources and info to help you recover and rebuild — including FEMA help, small-business loans, unemployment assistance and more.

Latest disaster updates

FAQs about rental properties: In the wake of Hurricane Ian destruction, many landlords, tenants and property managers aren’t sure how to proceed. Click here for Florida Realtors legal team answers to the most-asked questions or here to download a PDF version.

Florida emergency bridge loans activated: Gov. Ron DeSantis activated the Florida Small Business Emergency Bridge Loan Program to help companies deal with temporary operational gaps after Hurricane Ian. The maximum loan per business is $50,000 at zero interest,