Friday, June 3, 2011

Fixed mortgage rates drop again - 7 weeks straight

A 30-year loan fell to 4.55 percent from 4.60 percent. The average rate on the 15-year fixed mortgage, a popular refinance option, slipped to 3.74 percent from 3.78 percent according to the AP.  These are the lowest rates for the year. 

While this is great if you want a mortgage, the problem is qualifying.  Most are unable to take advantage of these rates because they can't meet the strict lending requirements.  Also, those that would qualify, most likely already have refinanced last year. 

Home values are expected to keep falling until the glut of foreclosures for sale is reduced. 

If you are exploring refinancing, remember to ask about how many points you will be charged.  One point is equal to 1 percent of the total loan amount. The average fee for the 30-year fixed loan in Freddie Mac’s survey was 0.6 and it was 0.7 for the 15-year fixed loan. The average fee for the five-year ARM and the 1-year ARM was 0.6 point.

Information was pulled from The Associated Press, Derek Kravitz

Thursday, June 2, 2011

20 South Florida cities see increase in taxable property value

What does this mean... Property value declines, while modest, are likely to reduce revenue further in already lean county budgets. Miami-Dade’s property tax rolls had already shed more than $50 billion during the downturn to reach $192.2 billion, so another 3.3 percent drop is that much more painful. In Broward, the 1.9 percent slip means the county’s tax base, at $125.6 billion, is 28.7 percent below its 2007 total of $176.1 billion.

Things are looking better in some areas but not so great over all.  As an example, an 8 percent decrease in taxable values in North Miami will force city officials to consider even more cuts after last year’s budget shortfall forced layoffs, furlough days and salary reductions across almost every department in the city. The 8 percent decrease comes on the heels of a 20 percent drop the year before.

8 percent is better than 20% but these days, holding even would be great.  We can then look forward to a positive future.

If you would like more information, please contact us at

Some pay ZERO in property taxes

Tax bills of zero, they do exist. No, this isn't a real estate scam. Blame higher homestead exemptions and falling home prices that essentially removed houses from the tax rolls. 

This is possible
because for many of those with tax bills of zero, their properties are valued less by county property appraisers than their qualified homestead exemption, usually $25,000. For properties worth more, a $50,000 exemption brings the tax bill down to almost nothing.
 Most owners who don't owe property taxes live in poor neighborhoods where home values have plummeted.  Which is typically where it is needed most.
For example, a shotgun-style home at 2809 N. 10th St., in the Ybor City area north of Interstate 4, is valued at $23,569 by the county property appraiser. The owner has a $25,000 homestead exemption. Taxable value: zero.

 For more information please visit our site at or the article is at

Credit Checks - know your score

You have a right to know your credit.  If you are interested in knowing your rights look at:

Also, you are allowed to review your credit from the three main agencies one time annually.  Just go to

This is a secure site what is not looking to make money off of you and sign you up for an auto renewing service to check your credit.  It allows you to review your credit from one agency at a time annually.  You can check each of the three companies once a year. 

If you want to know your credit score, then you can pay that company $5.00 for the actual score.  Otherwise the site shows you all debts, credit cards, and any other items that would be on you credit.

Adding another source - We look forward to updating our blog

In the past, we have used our web site, Facebook, and Twitter to get our information out to the public.  We feel everyone should know their rights when it comes to appealing your Property Taxes.  This goes for the homeowner to the owners of income producing properties. 

You may find information about our company at or simply

The Property Tax Appeal Group is operated by more than just real estate brokers. Members of P-Tag consists of the following trades:
  1. Real Estate Brokers
  2. Building Contractors
  3. Property Owners
  4. Landlords
The Property Tax Appeal Group, LLC ("P-Tag") specializes in appealing the real estate property taxes for the following types of properties in Miami-Dade and Broward Counties:
  1. Retail Shopping Centers
  2. Industrial Warehouses
  3. Apartments
  4. Condominiums
  5. Offices
  6. Hotels / Motels
  7. Residential Homes
  8. Land
Please feel free to contact us with any property tax questions.  Thank you.