The implosion of real estate prices in the last two years has encouraged many would-be investors to jump into the foray of real estate ownership. Prices, in some cases, are at multi-year lows, and some properties are being offered for what was previously thought of as ridiculous discounts 70% to 80% lower prices.

With such discounts also come reduced property taxes, which are assessed, in Florida at least, as 2% of the purchase price, minus a variety of discounts, such as the ,000 homestead exemption, depending on the buyer’s status. Continue reading →