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Florida votors passed Amendment 1 last week which allows portabilty of Save Our Homes.  This is already generating phone calls to local Realtors.  Home owners who have been in the same house for many years can now make a move without the huge increase in taxes.  They can take the savings with them.

Prices in most areas of Southwest Florida are very attractive and those who could not make a move were unable to as they would loose the often large savings on property taxes.  Now they are free again.  This should kick off new activity in the area.

I urge the local Realtors to contact persons they sold home to 5-10 years ago and see if they are ready to move.  This is a great opportunity for these residents to take advantage of the low prices and lower taxes.  Property taxes for the upcoming tax year should be lower for most areas.

Amendment 1 also doubles the homestead exemption to $50,000.

I congradulate Florida voters on making the right decision at the polls.  Existing home sales in the area should pick up in the near future.

For up to date information regarding mortgages, appraisals, and legislative updates,  I recommend going to www.gotmortgagequestions.com

This site will keep you up to date on Real Estate trends affecting the Ft. Myers, Naples and Port Charlotte markets.

I invite comments from local Realtors, Appraisers, and Lenders working in Ft. Myers, Cape Coral and surrounding areas.