WISHING ALL OF OUR FRIENDS, FAMILY, CLIENTS, AND LOVED ONES
A VERY HAPPY AND SAFE THANKSGIVING WEEKEND!

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EURO EYES $1.50 - THIS IS GOOD

TO MY EUROPEAN FRIENDS:

The dollar fell to all-time lows against the euro and a basket of major currencies on Tuesday as investors feared the fallout from the credit turmoil was far from over and the Fed will have to cut interest rates some more.

Expectations of further monetary easing in the United States have seen investors focusing on the yield play, driving the euro to successive record peaks against the dollar.

The euro rose as high as $1.4571 , according to Reuters data, its highest level since its 1999 launch.

The dollar index, which tracks the greenback's performance against a basket of six major currencies, dipped to 75.986, the lowest in its more than 30-year history. The index (.DXY: Quote, Profile, Research)

There is certainly no change in the dollar's weak trend. It looks like $1.50 is the next target for euro/dollar.

In contrast to the Fed, which has slashed the fed funds rate target by 75 basis points in the past two months, the European Central Bank (ECB) has kept up hawkish rhetoric due to concerns about inflationary pressures.

With that as a backdrop, the market will target higher eurozone interest rates and lower U.S. interest rates. We see this as an opportunity for our European friends to make home purchases at substantial discounts, at prices that have never been seen before.

From Palm Beach to South Beach, pleaes allow Bradley E. Arnowitz, P.A. & Associates to share this unique buying opportunity with you.

Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on my web site http://www.arnowitzproperties.com/ for free and without obligation. Why? I want to be YOUR real estate agent. As your trusted, professional real estate partner, I will help you find the best home in your area within your price range.

Buying and selling a home is one of the biggest events in your life. As the areas #1 realtor, I have the experience and track record you are looking for. Please let me help.

Bradley E. Arnowitz,PA, RPS, CLHMS
Re/Max Hall of Fame
Founder, The Institue for Luxury Home Marketing
Renowned Property SpecialistCertified
Luxury Home Marketing Specialist
Voted "Best Local Realtor!", The Sun Times
Miami Beach Area Council Chair, Realtor Association of Miami & The Beaches

Please contact the firm at:
Bradley E. Arnowitz, P.A. & Associates
http://www.arnowitzproperties.com/
ClientCare@ArnowitzProperties.com
24/7 - (305) 776.6113

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Florida Property-Tax Amendment - Questions and Answers

Homeowners' guide to propety-tax amendment:

Of the four parts in a property-tax amendment up for a Jan. 29 vote, portability has the potential to affect homeowners the most. Key questions about it:
• Q: What is portability?
• A: The ability to transfer to a new home accumulated property-tax savings tied to the Save Our Homes law. The taxable value of a homestead can rise no more than 3 percent a year -- even if the real market value of the home is higher. Over a period of years, the market value of the home may be higher than its taxable value. That's called the ''differential.'' Under the amendment, that amount can be transferred to a new home so you pay less tax.

• Q: How can I find out the differential for my home?
• A: On Miami-Dade property-tax statements, subtract ''taxable value'' from ''market value'' to get the differential. In Broward, subtract ''taxable value'' from ''property assessment value.'' In Monroe, subtract ''taxable value'' from ``just value.''

• Q: How much savings can I carry to another home?
• A: If you buy a more expensive home, you transfer all of your benefit up to $500,000. For example, if you sell a home with market value of $600,000 and taxable value of $300,000, your differential is $300,000. If you then buy a new home with market value of $700,000, your taxable value would drop by the differential, $300,000. So your taxable value would be $400,000 your first year in the new home.
If you buy a lower-priced home, you transfer a percentage that matches your current benefit, up to $500,000. So if market value of your current home is $600,000 and your taxable value is $300,000, your differential is $300,000, or 50 percent. If you sell it and buy a new home for $400,000, you may transfer $200,000 -- 50 percent of the new home's market value. Your taxable value would be $200,000 the first year.

• Q: How much will my taxes increase on my new home in the future?
• A: You will still be covered by Save Our Homes, which means taxable value will grow no more than 3 percent each year.

• Q: What if I've never owned a home in Florida?
• A: You're at a disadvantage. But once you own a home, you will accumulate Save Our Homes benefits and can transfer them to another Florida home.

• Q: Do I get the benefits of portability only if I sell after the amendment passes?
• A: No. If the proposal passes on Jan. 29, you can get the benefits if you sold your home anytime in 2007, as long as you get homestead exemption on your new home by Jan. 1, 2009.

• Q: If I sell my home, do I have to buy another main home right away to transfer my tax savings?
• A: No. You will have two years to transfer savings.
Source: Miami Herald, MARY ELLEN KLAS

HELPFUL LINKS:
Broward County Tax Appraisal Site
http://www.bcpa.net/Homepage.asp
Miami Dade County Tax Appraisal Site
http://www.miamidade.gov/pa/
Interactive Tax Calculator
http://www.miamifly.net/interactive/proptax/
Arnowitz Properties main site
http://www.arnowitzproperties.com/

Hilights of property-tax proposal
HOMESTEAD
• All homeowners would receive an additional homestead exemption of $25,000 for the value of their home above $50,000.
• The new exemption doesn't apply to schools taxes, so the exemption would average about $15,000 statewide.
• First-year impact: $892 million.

PORTABILITY
• Owners of homestead property would be able to transfer their Save Our Homes benefit (up to $500,000) to a new homestead within two years of moving.
• Homeowners who moved in 2007 may transfer their benefit if they apply for a new homestead Jan. 1, 2008, or Jan. 1, 2009.
• This applies to all taxes, including school taxes.
• First year impact: $302 million.
Source: Florida Senate

Bradley E. Arnowitz, P.A. & Associates
http://www.arnowtizproperties.com/
ClientCare@ArnowitzProperties.com
24/7 (305) 776.6113

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New York Times Article

I read an interesting article in the New York Times regarding the market in South Florida and how high end properties have suffered less than lower and mid priced properties and thought you might find it interesting reading.

http://www.nytimes.com/2007/10/27/business/27home.html?_r=1&em&ex=1193803200&en=86a4808c3d8b88d3&ei=5087%0A&oref=slogin

Bradley E. Arnowitz, P.A. & Associates
http://www.arnowitzproperties.com/
ClientCare@ArnowitzProperties.com
(305) 776-6113

HONESTY * INTEGRITY * RESULTS

For Immediate Release

WEB FANTASTICS!

We are please to announce that http://www.arnowitzproperties/ traffic rank for the past three months is 2,573,312. An average of 857,771 visits per month!

Bradley E. Arnowitz, P.A. & Associates of Re/Max Beach Properties is a full-service firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties. Bradley E. Arnowitz, P.A. has been serving South Florida with Honesty, Integrity, & Results since 2001.

For more information, visit Arnowitz & Associates on the web at http://www.arnowitzproperties.com/ or contact the firm at Re/Max Beach Properties, 1355 Alton Road, Miami Beach, FL 33139 or Re/Max Beach Properties, 672 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009, 305.776.6113. ClientCare@ArnowitzProperties.com

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OPPORTUNITY KNOCKS

Please view these selected opportunites:

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NuRiver Landing
NuRiver Landing. Opulent, Panoramic, Picturesque! Located on the Famed New River, Ft. Lauderdale. The finest downtown living has to offer. Lease Purchase Available.
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DIPLOMAT OCEAN FRONT RESIDENCE
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Bradley E. Arnowitz, P.A. and Associates
Phone: 305-776-6113
Email: Brad@ArnowitzProperties.com
Website: http://www.arnowitzproperties.com/

HONESTY * INTEGRITY * RESULTS

Short Sales - FREE Foreclosure Lists

Short Sales and Foreclosures Offer Some Opportunities For Buyers In Broward, Dade and Palm Beach Counties:

How does a homebuyer, find a seller?
Sign up for our FREE List of Distressed and Foreclosed Properties @ http://www.arnowitzproperties.com/foreclosures.asp
Bradley E. Arnowitz, P.A. & Associates will send you a list of properties that match your criteria.

Nationally major banks and other lending institutions have recently written off billions of dollars to reflect the lower value of homes that they have repossessed. With these homes now priced more realistically, lenders are anxious to unload these non-performing assets and, locally, real estate brokers are being enlisted to market and move these properties.

This presents an excellent opportunity for first-time buyers to purchase homes in the Miami Dade, Broward, and Palm Beach Counties at prices well below where they were two or three years ago. Local mortgage loan officers are targeting those families or individuals with recession-proof occupations such as teachers, nurses, firemen and law enforcement personnel. For those buyers with good credit scores, 30-year fixed mortgages are still available with interest rates under 7 percent with minimal or no down payment.

Not so lucky are other potential home buyers - particularly those with poor credit scores, high debt ratios, spotty employment histories, or lack of down payment funds, — who have been frozen out of the market by tightened lending standards as a result of the mortgage meltdown.

Presently a huge percent of the foreclosures have involved subprime mortgages that were given to unqualified buyers, such as the adjustable mortgage. This percentage may change, however, thousands of other homeowners are currently in default on their mortgages. In many cases, banks and other lending institutions are delaying foreclosure proceedings.

Surprisingly, the homeowner and the lending institution both have an interest in avoiding foreclosure which will adversely impact the homeowner's credit for years to come and, at the same time, add to the growing inventory of unsold homes in the lender's possession. With at least 5 percent of homeowners delinquent in their mortgages, a new opportunity has emerged known as a "short sale."

If a mortgage-qualified investor or home buyer can be found for a home whose mortgage is in default, a lending institution is often willing to decrease the amount of the mortgage by as much as 25 percent or more in order to reduce its inventory and avoid lengthy and costly foreclosure proceedings.

It is important to know that all parties to a "short sale" must be in full agreement. Sometimes there is a second mortgage on the home and, in the event of a foreclosure, the second mortgage would most likely be wiped out. Therefore, in a "short sale" the second mortgage holder must be amenable to accepting a token amount.

How does a homebuyer, find a seller?
Sign up for our FREE List of Distressed and Foreclosed Properties @ http://www.arnowitzproperties.com/foreclosures.asp
Bradley E. Arnowitz, P.A. & Associates will send you a list of properties that match your criteria.


There can be pitfalls to a "short sale." If the mortgage is substantially reduced, the IRS may consider the reduction as taxable income to the seller. However, if the seller is nearly insolvent, the IRS does not pursue the matter.

The benefit to a potential buyer in finding a homeowner, teetering on the verge of foreclosure, is that a price can often be negotiated with the lender that is substantially below market value. If the home has already been foreclosed, the lender usually wants to recapture the time and money spent in the foreclosure proceedings.

Usually a "short sale" buyer will be offered a new mortgage by the lender but it is always a good idea for the buyer to have an alternative lender lined up in order to make certain the terms are competitive.

While the buyer may have some sympathy for the homeowner who is losing a home, chances are that the buyer may actually be preserving the seller's credit from total destruction so that, in the future, the seller may re-enter the housing market a little wiser and better prepared financially.

On the opposite side of the spectrum are those who can purchase a property quicly, all cash. The opportunities to purchase at well below value in a short amount of time will always give you the advantage while purchasing a preforeclosure or foreclosed property.

Bradley E. Arnowitz, P.A. & Associates
(305) 776.6113
www.ArnowitzProperties.com
ClientCare@ArnowitzProperties.com

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