Posts

Florida Amendment 3 Passed: What the Bigger Homestead Exemption Means for Buyers

-
  Florida Amendment 3 Passed: What the Bigger Homestead Exemption Means for Buyers Florida voters approved Amendment 3 on November 3, 2026, with about 62 percent of the vote, clearing the 60 percent bar a constitutional amendment needs. The homestead exemption for non-school property taxes jumps from $50,000 to $150,000 in 2027 and $250,000 in 2028. If you are buying a home in Florida, or you already own one, this is real money. Here is what changes, when it shows up on your tax bill, and how buyers can use it. Learn about Florida Taxes What Amendment 3 Does Amendment 3, officially titled "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments," changes the homestead exemption for all property taxes except school taxes. The new exemption replaces the current one. It is not added on top of it. Year Homestead exemption (non-school taxes) 2026 $50,000 2027 $150,000 2028 $250,000 Three more things it does: School taxes are unchanged. The exem...
Post a Comment
Read more

SW Florida Rates SKYROCKET! What can you do?

-
  MIKE STEELE LOANS   I Shop Rates So You Don't Have To Weekly Realtor Update  |  September 11, 2026 Rates just moved, and not in a small way. Over the last three days the average 30-year fixed jumped from about 6.75% to over 7%. That's the highest we've seen in roughly 15 months, and it happened in one short stretch driven by a hot inflation report and another jump in fuel prices. Here's why I'm sending this now instead of soft-pedaling it: this is the exact week where getting your buyer a second opinion on their rate matters most. When rates run up, the gap between a retail bank quote and a real wholesale quote gets wider, not smaller. And there are levers we can pull, right now, to hand your buyer real savings even in a market like this. ✦✦✦ NATIONAL AVERAGES THIS WEEK Highest in about 15 months, up sharply in 3 days CONVENTIONAL 30-YR ~7.0% - 7.1% FHA 30-YR ~6.5% - 6.8% VA 30-YR ~6.5% - 6.8% What moved them: a hotter-than-expected inflation report this week plus...
Post a Comment
Florida SW Florida
Read more

The bank said no. We said watch this !

-
Image
Here's something I say a lot: a "no" from one lender is not a "no" from the market. It just means that lender's guidelines didn't fit that buyer. And guidelines are not the same thing at every shop. That's the whole point of a broker. I'm not stuck selling one rate sheet with one set of rules. I've got 100+ wholesale lenders, and when a deal looks tough, my job is to find the one that says yes. Two wins this week prove it. Both would've died at a bank. ✦✦✦ RATES THIS WEEK Flat again, holding in the mid-6s CONVENTIONAL 30-YR ~6.5% - 6.8% FHA 30-YR ~6.125% - 6.3% VA 30-YR ~6.125% - 6.3% Quiet week. Rates barely moved, still riding the mid-6s while the market waits on the next inflation read. These are ballpark ranges, not quotes. Where your buyer actually lands depends on their credit, down payment, and the property, and on which lender we put them with. Call me for a live number on a real scenario. Illustrative ranges only, subject to chan...
Post a Comment
Florida SW Florida
Read more

Date the Rate? - Dont fall for it in SW Florida

-
Image
  I Shop Rates So You Don't Have To Weekly Realtor Update  |  August 21, 2026 Your buyer found a rate online that looks better than mine. It happens every week. Here's the thing though. That rate almost never matches the deal they're actually in. Most online rates assume 25% down or more. Your buyer putting 5% or 10% down is looking at a completely different number. That's not apples to apples. Let me show you how to compare rates the right way, and how I cut real money out of the deal before we even get to the rate. Compare Rates Apples to Apples Here's the deal. A rate by itself tells you almost nothing. Two lenders can quote the same 6.5% and the buyer walks away with two totally different deals. The rate is only real once you know what's baked into it. When your buyer sees a low rate online, ask these three questions. It usually falls apart fast. ✓ How much down? Most advertised rates assume 25% down or more. Your buyer at 5% or 10% down is a different risk...
Post a Comment
Florida SW Florida
Read more

Florida Condo Market - what has changed? Buyer beware of the new changes

-
If you're buying, selling, or listing a condo in Southwest Florida, the rules just changed under your feet. Fannie Mae and Freddie Mac rewrote how condo loans get approved, and the first big piece kicked in August 3, 2026. Here's the deal. Some of this makes condos easier to finance. Some of it makes certain buildings a lot harder. And in Florida, where condos are already under a microscope after Surfside, this hits harder than almost anywhere else in the country. I'll walk you through what actually changed, what it means for your loan, and how to keep a deal from blowing up three weeks before closing. No jargon. Just the stuff you need. First, why did this happen? Short version: the 2021 Surfside collapse changed everything. After that building came down, lenders started digging way deeper into condo finances and structural health before approving loans. These 2026 updates are the next step. Fannie and Freddie want to make sure the building behind your loan is financially ...
Post a Comment
Read more