Buying in Florida 101: What is the 50% rule? Learn more below.

What is the 50% Rule?  How does it affect me the Buyer?

www.WelcomeToTheBeaches.com 

  The Beaches are Barrier Island and definitely in A flood zone.

                                                        Click here to see A-zones seen here is RED.

In order to continue to secure the benefits of participation in the National Flood Insurance Program (NFIP) for citizens of all Pinellas County Beaches cities benefit. It is needful for each City to comply with the Federal Emergency Management Agency (FEMA) requirements for renovations and additions in “AE” and “VE” Coastal High hazard zones. FEMA requirements affect existing buildings that were not constructed at minimum flood elevation when such buildings are “substantially improved”. FEMA has defined substantial improvement; as any repair, reconstruction or improvement of a structure, the costs of which equals or exceeds fifty percent (50%) of the market value of the structure either before the improvement or repair is started, or before the damage occurred if the building has been damaged and is being restored.  
What does a Buyer Need to Know when looking at Beach property on the Barrier Islands?

So you can find out what you need to know and how you can a Savvy Beach investor or Beach buyer.
Here is one on my www.WelcometotheBeaches.com 

MLS #857837280 $259,000 Madeira Beach FL Bungalow built 1940 2 Beds 1 Baths 1,055 Sq.Ft 0.13 acres

Let's Look up at an example. The picture is of a small MadBeach Home Listed at 259k use this one or the one the one I chose below.

Madeira Beach
Are you looking to buy a home in Madeira Beach go to www.MadBeach.info
Choose a fixer-upper home. Copy the address. Then standby.

Visit the City of Madeira Beach Website http://madeirabeachfl.gov/
I took this screenshot picture below from their website. Look under the 78-degree temperature far right, for heading Helpful Links.

NOTE: Left of the malware pop up X
see this link and clink
BUILD SMART - 50% RULE.  

How do you find out how much the house is worth vs the land?
Go to www.pcpao.org 
Search by address
Put in an address or choose one at www.madbeach.info
Here is my example:
14067 MARGUERITE DR
MADEIRA BEACHClick here to this is what you get
http://www.pcpao.org/general.php?strap=153110344522310040 
Each time you may need to Accept their terms of Use.
On the same line as the date on the top far right you see this FEMA/WLM
Click on it it will tell you the valuation for FEMA Purposes.

Vina Del Mar Island Annual Rental small 2 bed 2 bath 1 car

Vina Del Mar Island Annual Rental $2100 per month Lease is going to be available for viewing and renting February 1st 2018. Your lease is with the owner but all screenings applications and Processing is with Beachside Rentals Inc. Application link Below.

2893 W VINA DEL MAR BLVD
ST PETE BEACH FL 33706
                               Vina Del Mar accessed from Pass-A-Grille on St Pete Beach

2893 W VINA DEL MAR BLVD
ST PETE BEACH FL 33706
Small concrete block home with 2 bed 1 bath plus another full bathroom in the garage.
The home has 1063 sq ft of lovely Terrazzo Floors. The may be small but it is light and open with lots of can - mood lighting and fans. Under-roof it has over 1800 sq ft roof and a circle driveway.

It is also only a few houses walk to the large VINA DEL MAR PARK

You can Return from the beach and ride your bicycles straight
around to the homes enormous backyard and accessed its large laundry room, awaiting your washer and dryer, with your wet beach towels, a shower and garage bathroom.

Lots to do in nearby Pass-A-Grille Beach Especially Sunset Gatherings.

Security Deposit Questions. SEASONAL Vs a SHORT term Vs a LONG Term Tenant Tenancy Deposits

Security Deposit Questions.

SEASONAL Verses SHORT term Verses LONG Term, what should be the deposit?

This is a common question when renting out your home or condo.

LONG TERM Lease. Leases are required. Reference FLORIDA Statutes Landlord Tenant Act.
Best Practice I follow recommend is $50 less than the rent held in Trust for the Tenant.
Here is an example
Beachside Rental Online Rental application
Criteria required disclosed that needed for Long-term Renters.

SHORT TERM Tenancy is usually WEEKLY. Leases not usually required.
Most Vacation Weekly rental sites do 10% or $275- $500 a week.
HomeAway.com VRBO.com AirBNB.com
Most of these special insurance policies.
https://community.homeaway.com/docs/DOC-1605

SEASONAL TERM Lease is the 3rd Category.
In Florida, the Winter Season is the main season. Snowbirds come for up to 6 months.
Anything from 1to 6 months is Seasonal.
If Rent is $3,000 -5,000per month then Security Deposits are usually as low as $1000 - $2500.
These Deposit amounts are whatever a landlord decides. 
All deposits are governed by FL Law Landlord Tenant act.

Most Seasonal Rents are paid up front for the full term 60 days before the term begins.
A 13% Sales Tax is added to the Full Season Rent and Cleaning fee.
 A deposit holds it for the next year as an example.
AT BEACHSIDE RENTALS INC. these initial deposits and the full-term rents ( 1 month or 4 months ) are deposited but held in trust until after there arrival.

MORE on Short Term Rentals on Tampa Bay Beaches

Tracy McManus 
recent article TBT April

Brian Goff TBN correspondent Jan 2018 Indian Rocks Beach to tackle Short Term Rentals

Diana Sames Beachside Rentals INC.  I am NOT an Attorney.

Agent and Realtor 727-776-0122
Office 727-367-3636  REMAX Preferred St Pete Beach FL 33706
Rental Criteria and application 

Mike Twitty and the new Pinellas County Property Appraiser

Mike Twitty the 2017-18 new Pinellas Property Appraiser

This has always been a great tool for me as a Realtor.
I can proudly recommend clients call or just go to this website
it is a wealth of local information.
If you are moving from a homesteaded home to another homestead condo or Visa Versa?
This is site New Pinellas County Tax Estimator  is perfect for you.
Click for New Pinellas County Tax Estimator 
It will direct you to accept their terms, each time.

Link to Pinellas County NEW Property appraiser Site

What is the Difference between HO 6 and HO 3 insurance

Homeowners policy unit owners form 6 (HO 6)

Part of the Insurance Services Office, Inc. (ISO), homeowners forms portfolio, the HO 6 form covers the real property interest and the personal property of insureds who own a unit in a condominium or share an ownership interest in a cooperative building.  It also provides personal liability coverage and medical payments coverage. 

This form is similar to the HO 3 in many ways but provides less real propertycoverage since it is designed to coordinate coverage with a master policy covering the structure and common areas that the condominium or cooperative association purchases.

Google for more: Links for IRMI Online Subscribers Only: PRMI 12.F

 Diana Sames  See some recommended Agents and Agencies

Economic Out look for 2018: Erosion of Housing affordability Video

2018 Prediction: Erosion of Housing Affordability
Describes my experience in the last 6 months

Interest Rates forecast it will rise as much as a percent.
Home price rising 6% but lower price rising is 15% up,
This is a killer for those Millennials looking to buy their first home.

The last few years in South Pinellas County behind the Beaches and Downtown St Petersburg have been a great time to buy low CASH in UP and COMING areas and make a killing.
Retirees, single ladies, Millennial's are looking to buy, they also want to buy "updated".

Cash investors have been naturally taking advantage of these up and coming areas and renourishing
communities by buying low, rehabbing then flipping homes that should not normally appraise but with enough cash down to make it not matter. Lack of inventory and Demand rule right?

I have seen this in the summer and fall normally off season and a good time for any buyers, especially young people looking to get their foot into the American Dream. The affordable reasonably updated, small home, housing market in Pinellas Florida is booming, causing multiple offers to come in on the best home in the worst, but ok neighborhoods.

This demand pushes the once affordable home locations to shrink and so do the opportunities for first home buyers with their hope of 3% down FHA loans finding themselves just
out of a the market.

Listen to Core Logic Dec 2017, eloquently sum up this trend Erosion of Housing affordability 

Diana Sames
727 776 0122
REALTOR
REMAX Preferred
http://www.welcometothebeaches.com/

Pasadena on the Gulf a great neighborhood and good grade-A schools Newer Family Home For Sale with 4 bed 3 bath 2 car Garage

Pasadena on the Gulf a good neighborhood in 33707 with good grade-A schools 

Newer Family Home for Sale with 4 plus Bedrooms, 3 baths, 2 car Garage 3200 Air Conditioned sq ft

                                                 See the Property Website 33706.info

See why the current family has loved living here.

33707 Pasadena on the Gulf: a good Neighborhood

"We couldn’t ask for a better neighborhood! The neighbors adore watching our kids help in the yard, decorate for holiday seasons and care enough to watch over the house while we are on vacation. One neighbor in particular pet sits for us and comes over for dinner on the holidays. I think you will find living in this area is friendly and peaceful."

Pasadena on the Gulf: Grade-A Schools

"What prompted our initial move to this area was the local school. Through the district application program through Pinellas County schools choice program, you are afforded the luxury of a private school education at a public school price. Several schools are notable and we have attended;

1.    Pasadena Fundamental Elementary School- Great Schools rating 9/10. Pinellas County grade-A

2.    Thurgood Marshall Fundamental Middle School- Great Schools rating 9/10. Pinellas County grade- A

3.    St. Petersburg Collegiate High School- Great Schools rating 10/10. Pinellas County grade-A

Zillow and Trulia Pasadena of the Gulf Neighborhood Schools only show the zoned public schools, not the greater schools that are openly available through the Pinellas County District Application- choice program. These schools are top notch! "

For the full website go to www.33707.info

                                                 Back lane access

                                                        Plenty of room for a pool

                                                         Plenty of room for a pool

                                           33707 is behind St Pete Beach and Treasure Island

                                                    No Flood insurance required

                                                                 Great Schools

Looking toward St Pete Beach and the Gulf of Mexico

Buy this large spacious high and dry home behind the best beaches in 33707 myhighanddryhome 

NOT in a FEMA Flood Zone so No Flood Insurance Required, today.

Please Call Diana Sames
727-7760122
REMAX Preferred
www.findafloridabeachhome.com