Short Sales – Income Tax Effect

July 5, 2009

Sellers of short sales often are not aware of the income tax effects of the short sale transaction and surprised to receive a form 1099-c.
Below is information for sellers of potential short sale transactions.
A short sale in real estate occurs when the outstanding loan against a property exceeds the market value of the property and [...]

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Home Valuation Changes

April 8, 2009

Home Valuation Code of Conduct Changes Effective May 1, 2009
The Federal Housing Financing Agency’s Home Valuation Code of Conduct (Code, or HVCC) will be effective on May 1, 2009, and will require that the lender order the appraisal. The intent of the Code is to help ensure that borrowers, homebuyers and secondary mortgage market investors [...]

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Foreclosures Sales Price to List Price in Naples

March 11, 2009

A frequent question asked in today’s real estate market is “How much will a lender or bank discount the list price of a foreclosed single family home which they own in the Naples area?”
One individual stated that banks are selling these properties with a discount of 25% from the list price or 75% of the [...]

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Naples Florida Real Estate News – 10/24/07

October 24, 2007

HOME SALES – Mirroring the national trend, turmoil in the mortgage market impacted Florida’s housing sector in September, despite continued low unemployment rates and other positive economic activity. Statewide sales of existing single-family homes totaled 8,688 last month, a decrease of 38 percent compared to September 2006 activity, according to Florida Association of REALTORS. The [...]

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Naples Florida Real Estate News – 09/28/07

September 28, 2007

Today’s topics cover a lot on mortgages – rates, fraud, and reform.  What’s going to happen with the economy – read one notable economist’s view. A valuable buyer tip has been added – based upon investors criteria. Good advise from the pro’s for the homebuyer.

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Naples Florida Real Estate Taxes

July 10, 2007

I received a question today, that my answer could be informative for potential purchasers of Naples FL real estate. 
I have another question for you. A friend of mine living in Florida, told me the way to figure out how much you’ll be paying in taxes is, it’s $12.00 per $1,000 in Florida. Is this true for all of [...]

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Naples Condo Values Vary

March 8, 2007

Often people want to know from a real estate agent’s point of view where they should consider buying a condo.  Recently, a few people asked about some three different bundled golf course communities. 
Looking at closed sales for the past six months and the previous six months the results for the average price paid was rather interesting to [...]

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Real Estate Agent Representation

February 8, 2007

Today, Jim Messenger found an interesting and somewhat misleading article about real estate agents representing buyers.
Personally, I found the author of the article rather misinformed or not doing sufficient research to realize that various states have different laws governing real estate brokerage and do vary from state to state.
If you are a buyer of real [...]

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10 Fixed Option ARM

December 18, 2006

The 10 Year FIXED Option ARM solves the problem of the option ARM in the borrower’s favor.
First and most importantly, the actual rate at which the loan accrues interest is FIXED for the first 10 years. The borrower will not get run over by a rising rate market.
Second, the loan allows for the 4 “options” [...]

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Year-End Bonus In Your Future?

December 4, 2006

Are you expecting a year-end or holiday bonus this year? 
The calendar year-end (December 31st) is fast approaching, here is a money savings hint that might be applicable to your own personal situation.
Some lenders will recast your monthly mortgage payment, if you make a substantial principal payment.  Recasting is after a substantial payment towards the outstanding balance of [...]

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