The Housing Market is Back and Everyone is Agreeing

Read what the major publications are writing.

US News and World Report  December 19, 2012

“Rising home prices should motivate would-be sellers to put their homes on the market and it also stimulates new construction, both of which will expand inventory, boost sales, and give house hunters more to choose from.”

CNN Money Magazine  April 8, 2013

“Inventory is tight, and bidding wars are back in some parts of the country.  To snag your dream home, you’ll have to pay up and contend with continuing strict loan requirements.  The bright side: Despite rising prices and mortgage rates that are edging upward, buying a home is still cheaper than renting in the majority of the top 100 markets.”Sarasota Real Estate Recovery

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There has been much discussion and general confusion about a tax on real estate from the new Obama health care law that is scheduled to go into effect this coming year. The following is a list of ten things you need to know about the health care tax on real estate as recently researched and published from NAR - National Association of Realtors®. NAR has prepared a guide "Top Ten Things About the 3,8% Tax".  Be advised to check with your tax professional about how this tax effects you.

Health Care Tax on Real Estate1) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax.

2) The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll…

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Sometimes when people are thinking about moving they will ask me the question,

Should I Rent My Home or Should I Sell My Home?

As with all of life's greatest questions the answer is usually the same.   WELL, . . . .  That Depends!

Don't you just love that answer?  It really depends on so many different factors that I thought the  best way for people to make that decision is to be better informed.  The following article came from Steve Harney and his team at KCM.   Just some food for thought. Enjoy!

Should I Rent my House If I Can't Sell It?

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by The KCM BLOG August 6, 2012

There has been a lot written about how buying a home is less expensive than renting one in many parts of the country. Rents are skyrocketing and homes are at bargain prices.…

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The following article was published January 2012  By Donna Gehrke-White, Sun Sentinel, Ft. Lauderdale, FL.

WASHINGTON – Jan. 9, 2012 – You may owe federal income taxes in 2013 if you have a short sale, foreclosure after this year. Now is the time to make the hard decision: Are you going to walk away from your underwater home?

Uncle Sam is still giving homeowners until Dec. 31, 2012, to go through a short sale or foreclosure without tax consequences – as long as the lender officially releases the debt.

But on Jan. 1, 2013, the rules change: The amount a lender forgives, ether in a short sale or foreclosure, on a primary residence will be taxable on federal income taxes.

So if a house sold $50,000 short of what is owed on the mortgage, then the selling…

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Applying for a Florida Homestead Exemption is a simple process and can be done on-line or in person through the Sarasota County Appraisers office however, there are certain guidelines and dead line dates that you must be aware of in order to qualify. 

How to apply for a Florida Homestead Exemption

Florida Statute 196.031 specifies that every person who has legal title or beneficial title to real property in the State of Florida and makes the same their permanent residence in good faith, is eligible for this exemption entitlement. The law does not require you to reside at your property a minimum number of days every year in order to be a permanent resident.

Visit this link to view:      What is required to be a permanent Resident of Florida

In…

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Borrower -  Beware of possible recourse with that short sale or foreclosure.

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Ever since short sales and foreclosures began several years ago, there has been a growing consensus of opinion that at some time banks and lenders were not going to continue to let the borrower “off the hook” for the money owed. 

That time seems to have come according to this article written by Michael Pollick on Sunday June 19, 2011 in the Sarasota Herald Tribune.  Homeowner & Condo Associations along with Banks are becoming proactive in recovering deficiency judgments for the money owed on short sales, foreclosures and association fees.

Visit the link below to view the complete article and read how this may effect you if you are going to be a short sale or a…

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Why Using a Sarasota Real Estate Agent is Important.

This article from Harold Bubil, of the Sarasota Herald Tribune appeared in our local paper.  I think Harold does a great job in summing up the reasons for using a real estate professional in this market.  I recently received a call from a potential customer who was trying to navigate the waters of a purchase without using the proper professional to help him get the job done.  Don’t get caught in stormy waters.  Call a professional and then buy or sell your home and get the job done.


"Even with Web, help from a pro is needed"

By Harold Bubil

Published: Sunday, December 26, 2010 at 1:00 a.m.

The vast majority - 90 percent -- of home shoppers use the Internet to search for a new home,…

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Where are the interest rates going to do in the future? 
  
A look into the crystal ball.........

Let me give you some insights as to what the real estate field is hearing.
Currently interest rates are hovering in the low 5% range.  

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In a recent article written by Michael Pollick of the Sarasota Herald-Tribune dated March 30, 2010,   Michael wrote,

” Signs are pointing to the end of the era of 5 percent mortgages, one that already has lasted longer than most thought it would.  It is clear that the combination play used by the government and Federal Reserve to stimulate the residential real estate market in 2009 and 2010 -- artificially cheap mortgage rates coupled with lucrative federal tax credits and easily available Federal Housing Administration loans --…

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