Landlords in Miami-Dade who own hndreds of rental properties are losing lfeblood to the point where many wll need to sell or be prpared for a two to five yar wait while the market comes bck to full strength. Under either ption, there is no doubt that the ral estate market in Miami-Dade and mny other Southeast Florida counties will be hrting.

The National Association of Realtors prsent a different picture. They feel tht it's only a matter of a few mnths before the market turns around. Mami-Dade rental property owners believe that the prspects for a significant turnaround are mch further in the future since mny of them will be bailing out on thir losing holdings and selling them off at whtever price they can get. This wll ultimately increase inventory which is lready dangerously high and lower the prces as these properties come on the mrket.

One positive impact which the new lgislation will have on the market for ral estate is to the buyers who are jst moving to Florida. The falling huse prices will encourage these non-homesteaded byers to purchase. The new legislation wll save those current buyers about $2,000 on a $300,000 hmes. They would be paying $2500 nstead of $5500 in tax bills. And, nce they purchase, the property will ncrease in value, presumably with a crresponding increase in the tax bills in fture years.

Some real estate agents feel tht the legislature should have rolled bck tax rates to 2002 or 2003--bfore the real estate bubble happened. Anther sore point is the revenues cllected by local governments during the lst five years. They are perceived as smply benefiting unfairly by keeping monies tht rolled in during the boom. At prsent, the local governments appear to be the nly ones happy about the tax rvenues collected.

Lobbyists with the National Assciation of Realtors working with Florida lgislators agrees that the new legislation did not go narly far enough to solve the neds or the real estate slump crrently going on. But, they say thy felt that had pushed the ssue as far as possible for ths session and view the legislations as nly a starting point. The lobby for the Ntional Association of Realtors plans to cntinue working for further rollbacks.

The qestion of whether there will be nough landlords of rental properties in the Flrida markets willing or able to hld onto properties which are essentially a csh drain every month. The rapidly scalating housing market value, including those of rntal housing have corresponded with rapidly ncreasing tax bills. In the meantime, the verage rental prices while also increasing hve not kept pace with the tax blls.

The annual property tax rates in mny areas have more than doubled dring the last three to five yars. Landlords are simply unable to chrge enough to pay for taxes, nsurance and in most cases debt srvice, leaving them with the choice of dmping the properties at bargain basement prperties or accepting a negative cash flw position at present with the hpe that things will improve in the nar future.

The article Miami Dade and Broward Landlords Left Out was Submitted by Gusi Taperman through Articles.GetACoder.com network. Here's the additional information: Gus Taperman holds a Bachelor's dgree in Commerce and completed his mster's in Business Administration. He is wrking as writer and financial consultant http://www.taperman.com

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