Viewing Entries Tagged: Florida Homeowners
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Tuesday, January 24, 2012
Florida’s Insurer Citizens is Reducing in Size
Posted In Categories: Florida Homeowners, Tampa Real Estate
Florida homeowners know that Citizens Property Insurance is the insurer of “last resort.” Unfortunately due to this fact, there are a gigantic number of policies in Citizen’s portfolio since many other insurers have left the state. The companies overall exposure is estimated around $500 billion. Citizen’s would be unable to pay claims in the event of a catastrophic hurricane with it’s current portfolio which would lead to a surcharge on Citizen’s policyholders and consumers who have coverage with other companies as well. In an effort to reduce Citizens’ size, the Office of Insurance Regulation signed off on 30 recommendations to reduce client base and exposure. Policies such as a mandatory 10% deductible, reduction of persoanl liabiltiy coverages, mandatory deductibles on sinkholes, and a reduction to the maximum coverage on coastal properties.
Many Buyer’s are forced to use Citizens in the Tampa Real Estate market because no other companies are issuing polcies for single family homes in certain zip codes.
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Monday, January 16, 2012
Federal Tax Credits for Homeowners
Posted In Categories: Tampa Real Estate
Incentives for Tampa Real Estate
The federal government expanded its efforts to promote energy efficiency in dwellings
and commercial real estate. The most generous credits, for investment in alternative
energy systems for houses extends through 2016. These credits are likely to to play
key roles in Forida homeowners’ housing choices in the coming years. Energy guzzling houses will command lower prices and less attention from Tampa real estate buyers then those that minimize energy expenses. Florida tax payers can claim their credits using IRS form 5695,which can be downloaded at the IRS website www.irs.gov