Real Estate Investors • June 28, 2022

What is a 1031 Exchange? FAQ’s and Information on How to Defer Your Capital Gains Tax

by Annette Dammeyer

What is a 1031 Exchange?

The 1031 exchange, as it is commonly known, derives its name from the section of the Internal Revenue Code which explains the use of a tax deferred exchange. Through this code section, a taxpayer is allowed to defer capital gain tax on the sale and subsequent purchase of investment or business property if the transaction is structured correctly with the use of a qualified intermediary.

Benefits: Leverage, Consolidation/Diversification, Increased Cash Flow/Income, Increased Purchasing Power for Investors. Investors can take advantage of the 1031 tax-deferred exchange to acquire a more valuable investment property. By utilizing the money they would have paid to the IRS in taxes, they can increase their down payment and improve their overall buying power to acquire a more expensive replacement property.

Qualified Intermediary:

For nearly 20 years, Realogy 1031 Services has served as a qualified intermediary during the 1031 exchange process, helping investors to defer capital gains tax on the sale of their business or investment property. I am sharing some information provided by Realogy 1031 Services. Please reach out with any of your 1031 Exchange questions, you have questions, we have answers!

1031 Exchange Basics:

1031 Basic FAQ’s:

If you are considering a 1031 Exchange and would like more information, please contact me and I can provide you with additional resources, help you with the sale and/or purchase of your investment properties and refer you to Realogy 1031 Services representative who can act as your Qualified Intermediary through every step of the process.

Annette Dammeyer, REALTOR

808.747.3686

Annette.Dammeyer@cbrealty.com

SL3535792

Real Estate Area Report • June 15, 2022

Sea It. Live It. Love It. ~ Dania Beach, FL Area Market Report

by Annette Dammeyer

Dania Beach – What’s Not to Love?

Known as “Broward’s First City”, Dania Beach is an attractive place to live or vacation. With its proximity to Fort Lauderdale and Hollywood, there are beaches with plenty of parking, piers open for day and night fishing and state parks offering picnic spaces, kayaking, and swimming. Dania Beach is one of the few beaches in Greater Fort Lauderdale that offers dining and nightlife directly on the water. Dania Pointe is the premier destination for shopping, dining, and entertainment in South Florida. Make sure you visit the restaurants, bowling alleys and stores in this delightful outdoor shopping center. You can also visit “Antique Row” along the Federal Hwy.

Click on the link below for an Area Market Report for Dania Beach, FL:

https://mce.cbprospectsquare.com/mce/prj/cwb/history/MT/2022-05/MT_150497_29051935_1554778_080320.htm

Please contact me if you would like more information on real estate in Dania Beach or another SE Florida area. I am here to help!

AnnetteDammeyer.com

Annette.Dammeyer@cbrealty.com

808.747.3686

Events • June 10, 2022

Looking for Florida Events This Weekend? Here are a few to choose from!

by Annette Dammeyer

TREASURE COAST THEATRE PRESENTS THE CLASSIC NEIL SIMON COMEDY, “THE PRISONER OF SECOND AVENUE”

Friday’s Movies Under the Stars! Screening “JUMANJI”(1995) by Village Design Art Gallery Free

Click link for more details: https://events.time.ly/bd7gol3?event=7801554&instance=20220527180000

Welcome to the Sunny Side of Pride – Dania Pointe

For events this Friday, Saturday and Sunday, click here: https://www.daniapointe.com/events

Flamingo Gardens – Davie, FL

FREE OUR SEAS AT SUNSET ACTIVITIES

Click for details: https://www.flamingogardens.org/events-calendar/free-our-seas-sunset/

Get out, Have Fun and Enjoy the SUNSHINE STATE!!

New Construction • June 9, 2022

ONE Park Tower by Turnberry – Your Time is NOW!

by Annette Dammeyer

Discover tropical living at its most luxurious.

ONE Park Tower by Turnberry, the newest addition and first condominium at SoLé Mia,
a 184-acre city-within-a-city set between Biscayne Boulevard and Biscayne Bay in North Miami.

Set on 184 acres between Biscayne Boulevard and Biscayne Bay alongside Oleta River State Park, SoLé Mia is a transformative destination that reimagines how luxury residences, nature, wellness, watersports, shopping, and dining can come together to create the ultimate lifestyle-driven community. Its location just 20 minutes from Miami Beach and near Florida International University is ideal for those who seek a serene tropical oasis with every amenity, as well as a seamless connection to the greater metropolitan area.

The newest addition to SoLé Mia’s world-class master plan, ONE Park Tower by Turnberry, has been
designed by a critically acclaimed and award-winning team. The architecturally distinctive
residential tower is by Arquitectonica, interiors are by Meyer Davis Studio, and landscaping is by
Enzo Enea. Resort-style amenities include a private beach and seven-acre Crystal Lagoon™. Steps away, The Village at SoLé Mia offers
a pedestrian-friendly, mixed-use, open-air destination for shopping, dining, and entertainment.

A 184-acre city-within-a-city anchored by The Village at SoLé Mia 350,000 square feet of facilities
37 acres of active and passive greenspace 8 miles of biking and running trails Children’s
playgrounds 225,000 SF University of Miami UHealth Medical Center with outpatient locations for the Bascom
Palmer Eye Institute and Oncology Center, Florida International University Biscayne Bay Campus,
The Village at SoLé Mia – an open-air dining, shopping and entertainment district

🔹1 Bedroom / 1.5 Baths968 sf – 90 m2Prices start from US $ 600,000’s🔹1 Bedroom + DEN /1.5 Baths1081 sf – 100 m2Prices start from US $ 800,00’s🔹2 Bedrooms + DEN / 3 Baths1345 sf – 124 m2Prices start from US $ 1,065,000🔹Corner 2 Bedrooms + DEN / 3 Baths1572 sf – 146 m2Prices start from US $ 1,163,000🔹Corner 3 Bedrooms + DEN / 4 Baths2131 sf – 198 m2Prices start from US $ 1,665,900 🔷 I have floor plans.🔶Available units with price.🔷Reservation ready!

Please contact me for more information on the Payment Structure Time Table and to get your Registration in!📞 808.747.3686📧 Annette.Dammeyer@cbrealty.comDM- @AnnetteDDammeyer🏡 🏝☀️ #oneparktower #onepark #parktower #oneparktowerflorida #keybiscayne #biscayneblvd #floridacondo #condoflorida #byturnberry #oneparktowerbyturnberry #turnberry #turnberrycondo #solemia #crystallagoon #naturallandscapes #northmiamicondo #northmiamicondos #privatebeachcondo #luxurycondo #luxury-condos #Floridarealestate #AnnetteDammeyer #SEFlorida 🏡 🏝☀️

Home Buyers • June 3, 2022

Exciting News!! Florida’s Hometown Heroes Program Started June 1st!

by Annette Dammeyer

What is it?

The Florida Hometown Heroes Housing program makes homeownership affordable for eligible frontline
community workers by providing down payment and closing cost assistance to income-qualified
homebuyers so you can purchase a primary residence in the community in which you work and serve.
Eligible borrowers can receive up to 5% of their total loan amount (maximum of $25,000) in the form of
a 0%, non-amortizing, 30-year deferred second mortgage.

Who Qualifies? 90+ Occupations are Eligible!

The Hometown Heroes (HTH) Housing Program makes housing affordable for eligible “frontline” workers, educators, police officers, healthcare providers, childcare, firefighters, nurses, military personnel, and others by providing down payment and closing cost assistance to qualified homebuyers. The Florida Hometown Heroes Loan Program offers a lower first mortgage rate AND additional special benefits to those who currently serve their communities and those who have served and continue to serve their country.

Are You a First Time Homebuyer? Not Sure? Here is how the IRS defines a First Time Homebuyer:

Additional Information and Resources

Please reach out to me and I will happily provide you with the following additional information and resources including:

LOAN LIMITS
DOWN PAYMENT ASSISTANCE SPECIFICS
QUALIFIED OCCUPATIONS LIST
REQUIRED DOCUMENTATION OF QUALIFIED OCCUPATION
ELIGIBLE PROPERTIES (Most types of properties are eligible)
APPROVED LOAN OFFICERS
WHERE TO OBTAIN THE REQUIRED HOMEBUYER EDUCATION (If you have not already completed the HUD approved Homebuyer education in the last two years)

$100 Million Dollars of funding is available for this Hometown Heroes Program! I can send you a direct link to get started taking advantage of this opportunity!

Contact me today, I am here to help!! My contact information is listed below in the flyer.

Your local trusted Sunshine State REALTOR,

Annette Dammeyer

Contact me today to get started!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 3535792

Market Report • May 31, 2022

Rio Vista Community – Market Report

by Annette Dammeyer

Rio Vista is one of the top neighborhoods in the Fort Lauderdale area. Rio Vista neighborhood is just south of downtown Fort Lauderdale and is an incredible boater’s paradise. The name “Rio Vista” means “River View” in Spanish. It is located along the New River intracoastal waterway and features many isles with waterfront homes. With the quick ocean access, it is an ideal neighborhood in the boating and yachting community.

Please click the link below for a Market Report for Rio Vista:

https://mce.cbprospectsquare.com/mce/prj/cwb/history/pip1/20220531/pip_150497_4345312_073405.htm

As always, please feel free to contact me with any of your real estate needs. I am here to help.

Events • May 27, 2022

Memorial Day 2022 – Events to Remember Our Military Service Members Who Died While in Active Service

by Annette Dammeyer

Memorial Day is an American holiday honoring the men and women who died while serving in the U.S. military. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades. Unofficially, it marks the beginning of the summer season.

Did you know? Each year on Memorial Day a national moment of remembrance takes place at 3:00 p.m. local time.

Here are some local SE Florida events to attend this Memorial Day weekend:

Memorial Day’s Salute to the Fallen

Hollywood, FL

https://local.aarp.org/event/memorial-days-salute-to-the-fallen-2022-05-29-hollywood-fl.html

MEMORIAL DAY BACKYARD BBQ + LIVE Music by Johnny + The Head Hunters

Fort Lauderdale, FL

https://www.unation.com/event/10622350

Memorial Day Ceremony

Coral Springs, FL

https://www.coralsprings.gov/Events-directory/Memorial-Day-Ceremony

Memorial Day Parade and Ceremony

Davie, FL

https://local.aarp.org/event/memorial-day-parade-and-ceremony-2022-05-30-davie-fl.html

Florida Real Estate Market Trends • May 26, 2022

2 of 3 Homes in Florida Selling in Less than 30 Days on Market!

by Annette Dammeyer

The Florida market is soaring. According to Florida Realtors economist:

2 of 3 Fla. Homes on Market Less than 30 Days

By Erica Plemmons

Florida Realtors economist: In 1Q 2022, half of new Fla. listings went under contract in 12 days – but look beyond that one statistic to see the shift in market speed.

ORLANDO, Fla –Florida Realtors market metrics – such as closed sales, median sale price and active inventory – summarize what’s happening in your market. But sometimes, one number can’t present the entire story.

In the first quarter (1Q) of 2022, the median time to contract for all property types in Florida was down to just 12 days. The median is the “middle,” so this means half of the homes sold in 12 days or less. This compares to 24 days one year ago, in 1Q 2021.

You can find out if homes in your local area are moving off of the market faster than the state by reviewing the median time to contract on SunStats, an interactive market tool – a free service as part of Florida Realtors membership.

The median provides a great starting point, but we can slice this data to reveal additional insights into the speed between listing and contract.

A cumulative frequency graph shows the percentage of properties selling under a certain number of days. For instance, if 2% of homes sell on the day they’re listed (0 days), and 3% sell the next day, a total of 5% (or 1 in 20 homes) sold in one day or less.

At 50%, a cumulative frequency chart tells us the same thing as the median time to contract.

The bulge in the lines has shifted toward fewer days for a higher percentage of homes. How quickly are homes selling?

In Florida across all property types, 68% (2 in 3 homes) sold in under 30 days in the first quarter of 2022. One year earlier, in 1Q 2021, about 54% of homes sold in 30 days or less, while only 41% sold at that pace in 1Q 2020. We can zoom in to look at these details.

Graph showing 68 of first quarter Florida listings

Recall that 41% of homes sold in 30 days just two years ago; now, in 1Q 2022, 41% of homes sold in a week or less!

You’ve likely experienced this market frenzy since the pandemic uncertainty eased. A home today serves more functions than it did in the past, so buyers who find one that suits their needs swoop it up quickly.

As interest rates rise, demand levels may moderate and push the curve back, however. We’ll follow up with any notable changes in the data as the year progresses.

Erica Plemmons is an economist and Director of Housing Statistics

Real Estate Area Report • May 24, 2022

Are You Looking in the Pompano Beach Area?

by Annette Dammeyer

Pompano Beach is a Florida city just north of Fort Lauderdale. It’s known for its beaches, marinas and offshore coral reef, plus numerous wrecks and other dive sites. The long Pompano Beach Pier stretches into the Atlantic Ocean. North, along the shore, the 1900s Hillsboro Lighthouse guards the Hillsboro Inlet, an entrance to the Intracoastal Waterway. Pompano Community Park has tennis courts and an amphitheater.

New market information will be available after the first of next month. Contact me if you would like updated personalized reports sent to you! Here is the last Area Report Information for Pompano Beach.

https://mce.cbprospectsquare.com/MCE/prj/cwb/links/mt/mtmain.asp?et=MT&ak=150497&makey=44979

Homeowner • May 23, 2022

RealVitalize® Program for Home Sellers

by Annette Dammeyer

RealVitalize® Program for Home Sellers

The RealVitalize® program provides home sellers with home improvement resources during
the listing period, with no upfront costs or interest fees. The Before and After changes can sell your property!

Non-structural projects can be completed with RealVitalize®. This includes renovations or just the final touch-up services that makes a home show-ready. Examples of frequently requested services include:

• Staging
• Landscaping
• Carpeting and Flooring
• Cleaning
• Moving and Storage*
• Painting
• Room Renovations
• Plumbing
• Electrical Repairs

* Up to 3 months of storage is available. Domestic moving in the United States is covered.
All transactions must be completed before closing.

Services that are not included with RealVitalize® are projects deemed structural. These are
remodels that affect the overall square footage or integrity of the home, including:

• Building new walls or tearing down existing walls
• Building an addition to a home
• Adding an entirely new roof
• Digging an in-ground pool

This exciting program can help you make small changes that make a big impact to your home’s selling price. Whether it’s a fresh coat of paint or renovating your kitchen, we can help you boost your sale price. There’s no hidden fees or interest—and you don’t have to pay until your property sells. Contact me today to learn more about the RealVitalize® program.

If you are ready to sell your home, but need to spruce it up first, please contact me and I will happily provide you with more information on RealVitalize®, Coldwell Banker’s fantastic program for sellers. I am here to help!

Annette Dammeyer, REALTOR®

Coldwell Banker Realty

901 E Las Olas Blvd Ste 101

Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 3535792

Coldwell Banker - Fort Lauderdale Las Olas & the Beaches

Accessibility Statement | Fair Housing Notice

© Coldwell Banker 2023 – 2024. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

What is a 1031 Exchange?

Who can take advantage of a 1031 exchange and what is the benefit?

Dania Beach – What’s Not to Love?

TREASURE COAST THEATRE PRESENTS THE CLASSIC NEIL SIMON COMEDY, “THE PRISONER OF SECOND AVENUE”

Friday’s Movies Under the Stars! Screening “JUMANJI”(1995) by Village Design Art Gallery Free

Welcome to the Sunny Side of Pride – Dania Pointe

Flamingo Gardens – Davie, FL

FREE OUR SEAS AT SUNSET ACTIVITIES

Get out, Have Fun and Enjoy the SUNSHINE STATE!!

Discover tropical living at its most luxurious.

What is it?

Who Qualifies? 90+ Occupations are Eligible!

Are You a First Time Homebuyer? Not Sure? Here is how the IRS defines a First Time Homebuyer:

Additional Information and Resources

$100 Million Dollars of funding is available for this Hometown Heroes Program! I can send you a direct link to get started taking advantage of this opportunity!

Memorial Day’s Salute to the Fallen

MEMORIAL DAY BACKYARD BBQ + LIVE Music by Johnny + The Head Hunters

Memorial Day Ceremony

Memorial Day Parade and Ceremony

The Florida market is soaring. According to Florida Realtors economist:

2 of 3 Fla. Homes on Market Less than 30 Days

RealVitalize® Program for Home Sellers