Zoila Perez-Chanquet - Miami, Fl

Since property tax season is in place and many of us have received our tax bills, I thought it would be the perfect time to educate buyers on the specifics, especially in the market that we are faced with. Many buyers have the idea that their property tax bill is according to what they paid for their property, wrong! Your property tax bill is according to the market value in the area, which all of us (realtors) know. The property appraisers office is not taking into consideration many of the foreclosures unless that is all that is selling in the area. Some buyers are astounded when they receive their tax bill on a property they paid $180k for and the market value is at $300k. Of course, this is a great thing looking at it as a property owner, because this means that your property value is up and there is equity in your home. But, on the other hand, since we are all pinching our pennies not too many new property owners like this idea. It's time to get educated and learn all the ins and outs of this market.

As everyone else in Florida, I have been trying to find ways to lower my monthly home expenses. I am one of those homeowners that refinanced one of my investment properties under a 7yr arm which is about to expire. Now, thinking of keeping the property for long term I need to refinance again and I am looking to get into a principal & interest 30yr loan.

While speaking to several friends regarding my situation, they all mentioned a way they cut their home expenses by lowering their property insurance premium by half! I got excited and started asking for more information, they told me they had a windstorm mitigation inspection done. An inspector checks your home's construction, from the roof to the garage door, to see how it would stand up against hurricane-force winds, shutters are also inspected. The inspections typically last a half hour and cost around $150. The report then is sent to the insurance company. I called my insurance agent and he checked with my insurance company who confirmed they do offer this discount so I got on the phone called an approved inspector and set up the appointment. The inspection is not costly and you can benefit from the savings even for investment properties, which is great!

Before making the appointment with an inspector please speak to your insurance agent, make sure that the company that you are insured with does give you this discount and also, make sure that the inspector you hire is approved to sign off on the inspection. They are two different inspections, windstorm & shutters, performed by the same inspector.

I am sure many of you Floridians, know about this inspection, I sure didn't and I am glad I found out. I hope this helps some of those that might not know.