Fla. Senators Introduce the ‘Canadian Snowbirds Act’

Senate Bill 2507, introduced by Scott and Rubio, would allow Canadian snowbirds to stay in the U.S. for up to eight months – an increase from the current six months.

WASHINGTON – Florida’s U.S. Senators Marco Rubio and Rick Scott think Canadians should be allowed to stay in the United States longer than the current mandatory six months, so they introduced the Canadian Snowbirds Act (S. 2507) in Congress.

The legislation would allow some Canadian citizens to spend up to eight months per year vacationing in the United States without penalty. According to the Canadian Embassy, Canadians who visit Florida contribute more than $6.5 billion each year to the state’s economy.

“Tourism is a crucial part of Florida’s booming economy, creating and supporting thousands of jobs all across the Sunshine State,” Rubio said in a statement. “This bill will be a huge boost to our state’s economy by allowing the millions of Canadian snowbirds who visit Florida each year to stay two months longer.”

To become law, the Senate would have to pass S. 2507 and send it to the House for approval. If that happened, it would then need President Trump’s signature to become law.

The bill would allow Canadian citizens over age 50 who own or rent a U.S. residence to remain in the country for up to 240 days each year. The bill prohibits qualifying visitors from working for American employers or seeking public assistance.

Under current laws, Canadians may remain in the United States for up to six months per year. If they stay more than six months, they’re considered U.S. residents for tax purposes and required to pay U.S. federal income taxes on any and all income they earn that year – regardless of which country it was earned in.

According to VISIT Florida, approximately 3.5 million Canadians visited Florida in 2018 alone. The legislation is endorsed by VISIT Florida and the Canadian Snowbird Association.

“This bill is a win-win for people on both sides of the border,” says Karen Huestis, president of Canadian Snowbird Association 

© 2019 Florida Realtors®

UNDER CONTRACT! 23 Colombus Court Palm Coast, FL 32137

23 Colombus Court is now Pending - Taking Backups. - 9/16/19

Open House Saturday 9/14 - 23 Columbus Court Palm Coast, FL 32137

Open House

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SOLD! 11 Conley Court Palm Coast, FL 32137

11 Conley Court is SOLD! 9/10/19

July 2019 Flagler County Waterfront Sales Report

Thank you for checking out this months Waterfront Sales Report for Flagler County. Below are waterfront property sales along with the addresses & selling prices of each sold in July 2019.

If you’re looking to buy or sell a waterfront home feel free to browse the website and register yourself for free market updates. You can also give me a call or text directly at 386-793-1426.

July 2019 Palm Coast - Flagler Beach Saltwater Canal Home Sales Report

TL = Tip Lot P = Pool GC = Gated Community SC = Sailboat Country

• In July, a total of 6 homes sold on the saltwater canal in Flagler County.

• The top saltwater canal home sale of the month in Flagler County was 306 11th Street North in the Palma Vista neighborhood of Flagler Beach at $640,000.

• The deal of the month was 28 Coleridge Court in the Palm Harbor neighborhood of Palm Coast at $295,000.

• The average sales price for Flagler County saltwater canal homes in July, 2019 was $440,667 with an average of 123 days on market.

Flagler Beach Canal Homes Sold in July

306 11th St N Flagler Beach, FL 32136 - $640,000

600 Cumberland Dr Flagler Beach, FL 32136 - $500,000

Average Flagler Beach Saltwater Canal Sales Price: $570,000

Average Flagler Beach Saltwater Canal Days on Market: 133

Palm Harbor Canal Homes Sold in July

6 Chestnut Ct Palm Coast, FL 32137 - $479,000

23 Cormorant Court Palm Coast, FL 32137 - $400,000

23 Criston Court Palm Coast, FL 32137 - $330,000

28 Coleridge Court Palm Coast, FL 32137 - 295,000

Average Palm Harbor Saltwater Canal Sales Price: $376,000

Average Palm Harbor Saltwater Canal Days on Market: 118

July 2019 Flagler County Saltwater Canal Lot Sales Report

• There were a total of 3 lots that sold on the saltwater canal in July.

• The top sale of the month was 6 Calusa Court Palm Coast, FL 32137 at $155,000.

• The deal of the month was 34 A Colechester Lane Palm Coast, FL 32137 at $85,000.

• The average sales price for a saltwater canal lot in July 2019 was $113,000 with an average of 126 days on market.

Below is a summary of each neighborhoods saltwater canal lot sales for June 2019.

Palm Harbor

6 Calusa Court Palm Coast, FL 32137 - $155,000

5 Claridge Ct N Palm Coast, FL 32137 - $99,000

34 A Colechester Lane Palm Coast, FL 32137 - $85,000

Average Saltwater Canal Lot in Palm Harbor Sales Price: $113,000

Average Saltwater Canal Lot in Palm Harbor Days on Market: 126

June 2019 Palm Coast - Flagler Beach Saltwater Canal Condo Sales Report

1763 Windsong Cir Flagler Beach, FL 32136 - $250,000

June 2019 Palm Coast - Flagler Beach Intracoastal Waterway Home Sales Report

• There were a total of 3 homes that sold on the Intracoastal Waterway in June.

• The top sale of the month was 3 Pavilion Ct Palm Coast, FL 32137 at $710,000.

• The deal of the month was 4212 N Ocean Shore Blvd Palm Coast, FL 32137 at $625,000.

• The average sales price for a ICW home in June 2019 was $670,667 with an average of 93 days on market.

Below is a summary of each neighborhoods Intracoastal Waterway sales for June 2019.

Tidelands

3 Pavilion Ct Palm Coast, FL 32137 - $710,000

Grand Haven

101 Front Street Palm Coast, FL 32137 - $677,000

A1A North - Palm Coast

4212 N Ocean Shore Blvd Palm Coast, FL 32137 - $625,000

Average ICW Home Sales Price: $670,667

Average ICW Home Days on Market: 93

July 2019 Palm Coast - Flagler Beach Intracoastal Waterway Lot Sales Report

• There were a total of 2 lots that sold on the Intracoastal Waterway in July.

• The top sale of the month was 8 Island Estates Pkwy Palm Coast, FL 32137 at $415,000.

• The deal of the month was 212 Palm Circle Flagler Beach, FL 32136 at $297,500.

• The average sales price for a ICW lot in July 2019 was $356,250 with an average of 1,217 days on market.

Below is a summary of each neighborhoods Intracoastal Waterway lot sales for June 2019.

June 2019 Palm Coast - Flagler Beach Intracoastal Waterway Condo Sales Report

• There were a total of 3 condos that sold on the Intracoastal Waterway in June.

• The top sale of the month was 500 Canopy Walk Lane Palm Coast, FL 32137 Unit #521 at $325,000.

• The deal of the month was 63 Ocean Palm Villas S Flagler Beach, FL 32136 at $157,900.

• The average sales price for a ICW condo in June 2019 was $229,300 with an average of 74 days on market.

Below is a summary of each neighborhoods Intracoastal Waterway condo sales for June 2019.

Canopy Walk

500 Canopy Walk Lane Palm Coast, FL 32137 Unit #521 - $325,000

Tidelands

45 S Riverview Bend Palm Coast, FL 32137 Unit #1917 - $205,000

Ocean Palm Villas

63 Ocean Palm Villas S Flagler Beach, FL 32136 - $157,900

Average ICW Condo Sales Price: $229,300

Average ICW Condo Days on Market: 74

Thank you for checking out this months Waterfront Sales Report in Flagler County.  All information is believed to be true and accurate, but not guaranteed.  The source for the information above is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value.  To find your homes value in this market, give me a call and we will schedule a free valuation on your property give me a call or text at 386-793-1426.

UNDER CONTRACT! 3 Floyd Court Palm Coast, FL 32137

3 Floyd Court is now Pending - Taking Backups- 8/28/19

UNDER CONTRACT! 11 Conley Court Palm Coast, FL 32137

11 Conley Court is now Pending - Taking Backups. - 8/16/19

Analysis: Homeowners' Cost Working with an iBuyer? 13-15%

Instant offers work well for sellers who want quick closings with minimal preparation, but a study by Collateral Analytics found that homeowners make less money than selling their home on the open market – even after backing out a real estate agent’s commission.

NEW YORK – iBuyers – companies that offer homeowners cash upfront for their home with a promise that owners can just walk away – are a relatively new phenomena with new players entering the business every month.

OpenDoor is the largest iBuyer, but the instant-offer market already has other firms involved, such as OfferPad, Zillow Offers, Redfin, Knock, Realogy CataLIST, Perch, Keller Offers and may more.

The real estate industry has been debating the pros and cons of iBuyers, both for the industry and for home sellers, and a study authored by Dr. Michael Sklarz and Dr. Norman Miller with Collateral Analytics took a closer look at the issue in their study, “iBuyers: A new choice for home sellers but at what cost?”

“iBuyers offer quicker closings for sellers who would like to avoid the uncertainty of knowing when and if their home will sell,” the authors say in the study “For motivated sellers who want a predictable sale date and need to move … there is no question that iBuyers have provided a welcome alternative to traditional brokerage.”

The purpose of their study is to “address the question ‘Who are the iBuyers, how do they make money, what risks do they face, and what are the benefits for sellers?’”

Overall, the study found that iBuyers cost homeowners 13-15% of their home’s value. While taking a home to market comes at a cost too – generally a real estate commission – it was better to go with an agent if the seller’s goal is to maximize profit rather than move quickly.

The authors concluded that iBuyer sellers “are paying not just the difference in fees of 2% to 5% more than with traditional agencies, and a generous repair allowance, but another 3% to 5% or more to compensate the iBuyer for liquidity risks and carrying costs. In all, the typical cost to a seller appears to be in the range of 13% to 15% depending on the iBuyer vendor.”

Noting that some buyers want a quick-and-easy sale, the authors believe there’s a place for iBuyers in the market, but “what percentage of the market will want this service remains to be seen.”

© 2019 Florida Realtors®

Open House Saturday 8/17 - 11 Conley Court Palm Coast, FL 32137

Join us this Saturday, 8/17 from 11am - 1pm at

11 Conley Court, Palm Coast, Florida

Real Estate Is Americans’ Preferred Long-Term Investment

From Florida Realtors

When asked about the best investment for 10-plus years, 31% picked real estate with millennials the top pro-real estate generation. Only 20% preferred stocks.

NEW YORK – When it comes to how Americans prefer to invest long-term, real estate is still the most favored investment option – 31% said it’s their preferred way to invest money they wouldn’t need for more than 10 years, according to a poll by Bankrate.com.

While real estate has been among the top choices in each of the seven years of Bankrate polling, 31% is the highest percentage to date. The stock market was a distant second, at 20%, while cash investments such as savings accounts or CDs was a close third at 19%. Of the rest, 11% pointed to gold or other precious metals, 7% to bonds, and 4% to Bitcoin or other cryptocurrency.

Generations

Contrary to the stereotype about millennials and their propensity to not buy homes, adults age 23-38 prefer real estate more than any other generation (36%), and the age group with the highest preference for cash has shifted to baby boomers.

Overall, however, real estate was the top choice of all generations, including Gen X (ages 39-54 at 31%), baby boomers (ages 55-73 at 30%) and the Silent Generation (ages 74+ at 23%).

“Millennials are higher on real estate than any other age group, have cooled a bit on cash, and still aren’t keen on the stock market when investing for more than 10 years,” says Greg McBride, CFA, chief financial analyst for Bankrate.com. “Millennials in particular should be turning to the stock market for long-term investing, such as retirement.”

Income groups

The preference for real estate was virtually the same among all income groups, while households with income of $50,000 per year or more were more than twice as likely to cite the stock market than households with income below $50,000 per year. Lower income households (below $50,000 per year), do have a higher preference for cash investments and gold or other precious metals than households.

Before Federal Reserve Chairman Jerome Powell announced a cut in interest rates last month, Bankrate asked whether that would change behaviors. A majority said that lower interest rates will not make them more likely to invest in the stock market, borrow money, or put money into savings accounts or CDs: 40% said they would be more likely to put money in savings accounts or CDs as a result of declining interest rates. Only 33% said they would be more likely to invest in the stock market. Just 26% said they would be more likely to borrow money.

“A Fed interest rate cut is unlikely to influence how consumers manage their finances. Only a minority of Americans say they would save more, invest more, or borrow more as a result,” added McBride. “A rate cut or two is certainly not a reason for consumers to panic. The Fed raised rates nine times in a three- year period. If they walk back one or two of those, savers are still far ahead of where they were for much of the past decade.”

© 2019 Florida Realtors®