David Shippey

Xcellence Realty

Welcome to Xcellence Realty. If you are interested in buying a home or selling your home, I encourage you to contact me through email or phone so we can further discuss your plans.

How do I navigate on your website? Let me explain a few ways. If you are visiting my website looking to find your next home, Welcome. You will notice a number of ways to search on my website for real estate in the area. I suggest you review the choice searches by clicking Sitemap on the bottom right of  my webpage. You will find searches for Million Dollar Homes, Retirement Homes, Gated Community Homes, Lakefront Homes, Chain of Lake Homes, Pool Homes, Luxury Homes, Golf Community Homes, 5 Bedroom Homes, 6 Bedroom Homes, Active Adult Homes, 55+ Homes, New Construction Homes, No HOA homes, and Historic Homes.

Buyers can also search by a MLS number, City, Map, Community Name, and Zip codes under the Property Search tab. I think you will really enjoy the map abilities provided.

There are also a number of popular communities listed on the bottom of my website and the top under Featured Subdivisions.

Let me know if I can answer any questions or further assist in the selling of your home or purchase of your next home. David Shippey.


Q: What is Homestead Exemption?

A: If the property is your primary residence, Florida provides up to a $50,000 exemption on your property taxes. For example, if your home is valued at $300,000 and you have a $50,000 homestead exemption (because the home is your primary residence), you will only be taxed on $250,000 instead of $300,000 value. This exemption could save you about $1,000 a year on your property taxes!

Q: How do I get the exemption?

A: A couple checkpoints are required to obtain the homestead exemption. You must own the home prior to January 1 to receive homestead exemption for the following year. You also must file for homestead exemption with your county's property appraiser prior to March 1 for that tax year. (You do not need to file every year; this is a one-time task.)

When you buy a home, you typically receive the current homeowner’s tax exemption for the rest of that year. Filing for homestead exemption with your local property appraiser's office will ensure those benefits continue the following year.

Q: What is Portability?

A: In Florida, the tax savings you accumulate on your primary residence over the years can transfer (or is portable) to your new home. This savings coupled with your homestead exemption can help further reduce your property taxes on your primary residence. Be sure to transfer your portability when you file for homestead exemption prior to March 1.

Have you heard about portability before? Real estate (like any industry) comes with its own set terms. If you're not already working with a Realtor, I'd be happy to walk you through buying or selling your home in Central Florida.

Q: What is the Save Our Homes Act?

A: In Florida, the Save Our Homes Act limits the annual increase of the assessed taxes each year to 3% or less with a Homestead Exemption on primary residence homes. It's also transferable to a new home so long as that residence is also located in Florida.

Sadly, this tax savings does not apply to investment or vacation homes -- only primary residences.

Q: How does the interest rate affect my mortgage payment?

A: Great question! This one is easiest to understand with an example.
If your loan amount is $300,000 with a 6.5% interest rate, your monthly payment would be approximately $1,896 over a 30-year term NOT including taxes, PMI, or homeowners insurance. The same loan amount ($300,000) with a 6.75% interest rate would make the monthly payment $1,946 -- still excluding taxes, PMI, and homeowners insurance. At 7% interest, the payment moves to $1,996. In this example, each .25% increase in the interest rate increases the monthly payment by $50.

Q: What are Buyer Closing Costs?

A: This depends on the type of transaction. If you are paying cash, then closing costs are minimal. Typically, there is only a fee to the closing title company to complete the transaction.

If you are getting a loan, then the fees or Buyer Closing Costs may include:

~ Appraisal
~ Survey
~ Title Fees
~ Lender Fees
~ Escrows
~ Mortgage Taxes
~ Homeowners Insurance

Q: What are Seller Closing Costs?

A: There are 5 main closing costs for Sellers paid at closing time.

1️⃣ Real Estate Commissions
2️⃣ Title Insurance
3️⃣ Documentary Stamps
4️⃣ Prorated Property Taxes
5️⃣ Title Fees

If you have a mortgage, equity line, or second mortgage, those would also be paid at the time of closing.

Q: Should I do a Final Walk Through before closing?

A: Yes!

Why? Because you don't know what you don't know. Unexpected things can happen after the seller vacates the property, and you don't want to find those out AFTER the home is officially yours.

Anything discovered during the final walk through can be addressed and could potentially save you money and heartache. It's always better to be safe than sorry!

Q: Are Open Houses worth it?

A: Yes and no... depending on who you ask. This is a highly debatable topic between many Realtors and customers. I would say that just as many think it is a waste of time and energy as there are that think it is worth the effort.

My opinion... Open Houses are worth it! Some buyers are reluctant to ask for a private showing and others are only casually looking. Offering an Open House with no obligation may attract the reluctant or casual buyer, and they could be the very one to actually purchase the home!

Believe it or not, I have actually sold homes during the Open House and make it a practice to host them at least once a month until the home sells.

Q: What's a seller's disclosure?

A: A seller's disclosure is a document that allows you to share (or disclose) things about the home you're trying to sell. For example, things like an AC replacement, roof issues, or plumbing repairs would be things found on a seller's disclosure. It is important to disclose every known fact about a home to potential buyers.

Remember - There is nothing at all wrong with disclosing a problem that you resolved. Be sure to document what happened, how you addressed it, and the current condition of that specific situation.

Thinking about buying a new home? I'd love to help! Having an experienced realtor on your side makes all the difference. Helping people find the home that's best for them is the reason I got into real estate more than 18 years ago. Send me a message, and let's talk!