Kat's Blog

One thing for sure, economically we may be in a recession and virtually everyone in South West Florida has been affected in some way.  But what I am seeing more and more a overall physical malaise overtaking our beautiful area.

Sure the economy is in the tank, that is given.  Our Real Estate markets are playing Filene's basement.  And the cure for this is going to be a long and bumpy road.  So what can you do you may ask?

Well you may not be able to fix the economy, solely on your own.  But you can work on fixing your own personal depression.  Here are a few tips to help you keep your chin up and stress levels down. Whether you are unemployed or not here are a few things that will help you get out of the doldrums.

• Exercise - after all we have the time to do it now.
• Go to the library - Amazing place, don't just go to the book shelves and leave.  Explore you will be astounded at what you may find
• Volunteer - Get involved with an organization that will appreciate your help.  Voluntarism goes a long way towards increasing the feel good chemicals in your brain.
• Increase your intake of Omega-3 fatty acids.  Fish oil or Flax seed supplements really help!
• No job to go too today, hop on the bus and go somewhere, anywhere.  Take the bus to the beach, or to the park downtown.  And just enjoy.
• Visit your friends or neighbors.  It is well documents that those who have close friendships live longer and happier.  Don't have any friends, maybe you should check out the self-help section at the Library.
• Get a Pet, if you can afford one.  It's hard to stay depressed when there is someone else there that needs feeding, walking and loving.
• Put candles on the dinner table tonight and dine, even if it is macaroni and cheese.

I'm sure I could go on and on.  But by working on our own selves we may help the overall malaise of the country and ultimately uplift our economy by feeling good again...

How important is the housing industry in Florida? And what impact will it have if the state makes a change in the way it taxes real estate? A 56-page report released by FAR has some answers. Researched by NAR, the report, "Effect of Policy Changes on Homeownership - Focus: Florida," provides an overview of housing's impact nationally and in Florida. It then analyzes possible changes the Florida Legislature could consider - transfer taxes, business receipt taxes, property taxes and general housing taxes - and how those changes could impact Floridians and the real estate industry.

To read the complete report, visit FAR's Web site, floridarealtors.org, at: http://www.floridarealtors.org/LegislativeCenter/Research/index.cfm

It's been a long time since I've heard the jokes about people being sold Florida Swamp land.  But it sure was a popular theme not so many years ago...  Even Dinsney World was once know as a swamp.

Well I had a very interesting Date of Death Appraisasal that I completed for an estate.  The date of death was 3rd quarter of 2006.    This lot was located in the Middle of Fakahatchee Strand State Preserve.  If you  are not familiar with it Fakahatchee Strand was the setting for Susan Orlean's book "The Orchid Theif" and the movie based on it "Adaptation".  WE ARE TALKING SWAMP LAND FOLKS.

http://www.floridastateparks.org/fakahatcheestrand/  

http://www.friendsoffakahatchee.org/

Would you beleive that I had no trouble finding sales for this report, lots of sales many were flipped several times.  One party buying 4-5 of these lots!  The problem is they can't be used for anything.  You may camp on them but you may not Build any permenent structures, nor may you hunt in the strand.  Further, you need a permit from the state to hike there.

The inset in this picture shows the individual lots.  The white marks are 2006 sales.

This goes to show just how crazy the Real Estate Bubble got.  And that people still buy Florida Swamp land

Kat Bryce
http://www.leecountyappraisals.com

What is going to happen to the values of condominiums when the homeowners association goes bankrupt?  We hear about foreclosures, but those are just the tip of the iceberg.  As developers begin to walk away from unfinished communities, or refuse to continue to contribute to the HOA many condo owners are going to be facing enormous costs to continue to maintain their common elements.

Is your appraiser examining the condominium budgets or doing the research necessary to determine if there is any pending or ongoing litigation?  Make sure your buyers are getting a sound investment and look carefully at not only the condo, and it's market but the health of it's Association.

News-Press.com
Condos cause conundrum
By DICK HOGAN • dhogan@news-press.com • September 25, 2008

Unit owners resist paying extra expense 

Buzz up! The developer of half-built Prentiss Pointe at Winkler and Summerlin roads in south Fort Myers wants the 50 condo owners to pay for all the community's operating expenses. 

They're fighting back with protests to the state Division of Condominiums, saying that developer Prentiss Pointe Ltd. is obligated to pay its share of the expenses. 

Gary Howe, managing partner of Prentiss Pointe, couldn't be reached for comment but condo owner Marilyn Boyer - who has the only non-developer seat on the condo association board - said he's told residents he's broke and can't pay.  Click here for the rest of the story 

Kathleen M Bryce
St.Cert.Res.REA RD-4424
http://www.leecountyappraisals.com
appraiserkat@earthlink.net

So did your taxes go down this year?  Why not?  It looks like it may be a long time before the Assessor catches up with all of the dirty sales that are on the books.  These frauds and flips are hitting all of us taxpayers right in our pocket book.  So the bad guys go to jail, nice but we're still going to pay for it out of our Pocket.  Kat...

Fraud cases still causing high property values
Naplesnews.com

By ELIZABETH WRIGHT (Contact)
7:33 p.m., Sunday, September 21, 2008

Buyers were locked into mortgages they couldn't afford, paving the way for substantial losses for financial institutions and adding to the current boom in foreclosures.

But as a recent case of mortgage fraud in Cape Coral shows, this kind of financial crime can have more subtle consequences for others beyond the buyers and banks involved.

In some cases, local taxpayers have had their properties' values assessed based in part on fraudulently inflated sales prices.   Click for the whole Story