Entries by KarenKohler

IMPORTANT RULES TO REMEMBER REGARDING YOUR PRINCIPAL RESIDENCE EXEMPTION:

To give you some background information… Michigan law creates a cap on the amount real property taxes may increase for residential property that is the principal residence (formerly known as homestead) of a taxpayer. The main rule is that a property owner may only hold the exemption on his or her primary residence. To claim a principal residence exemption a property […]

LISTINGS AFTER 5! – A Realtor Event

Access Title Agency, Caliber Home Loans, and KGT Remodeling Present Listings After 5! JOIN US AT ALEXANDER’S ON JANUARY 16TH, 2019 FROM 4:30-6:30PM FOR WINE AND HORS D’ OEUVRES BRING YOUR FAVORITE LISTING TO SHOWCASE FOR 1 MINUTE AND ENTER A DRAWING TO HAVE IT PUBLISHED IN THE SW FL REAL ESTATE SHOWCASE MAGAZINE!! ALEXANDER’S […]

Michigan Home Sales Continue Slide Versus 2017 Prices Up

October homes sales in the five-county region show a slide continuing as compared to strong sales last year, as the number of units decreased in each county versus October a year ago. Only Antrim County came close to matching last year’s results. This year’s 34 home sales in Antrim County actually produced a greater dollar […]

October Real Estate Activity Strong in Naples

Closed sales of homes in the Naples market grew 20 percent to 674 sales in October 2018 compared to 561 sales in October 2017. The last few months have seen not only a return to a steady housing market for Naples since Hurricane Irma, but also an increased buyer appetite for homes in Collier County. […]

Top 10 Safest Cities in Florida during a Hurricane

There’s really no place that’s 100 percent safe in Florida when it comes to hurricanes. Even Orlando got hit twice in 2004 by hurricanes Charley and Frances. And, although Florida enjoyed a more than 10-year hurricane drought after 2005’s Hurricane Wilma, Hurricane Hermine made landfall in the Florida Panhandle in 2016. Still, homeinsurance.com has ranked […]

Property Tax Exemptions and Additional Benefits

Property owners in Florida may be eligible for exemptions and additional benefits that can reduce their property tax liability. The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. Further benefits are available to property owners with disabilities, senior citizens, veterans and active […]

FIRPTA WITHHOLDING

A Notice to Agents, Buyers & Sellers A disposition of real property by a foreign person is subject to the Foreign Investment in Real Property Tax Act of 1908 (FIRPTA) income tax withholding. FIRPTA authorizes the U.S. to tax foreign persons on transfers of real property. Buyers purchasing real property from foreign persons are required […]

Don’t Forget to File for an Extension to Protect the Full 180 Day Exchange Period in a 1031 Exchange

If you are beginning the process of an IRC §1031 exchange and your relinquished property will close between October 18th and December 31st, 2018, please be aware that your normal exchange period of 180 days will be shortened if you close during this period. Why? Because Treasury Reg. § 1.1031(k)-1(b) (ii) – provides as follows: […]

Naples 3rd Quarter Market Statistics

Naples market statistics showed increases across the board in the 3rd quarter from 2017 to 2018. Overall inventory saw a 4% increase from a year ago, and a staggering 20% increase in overall pending sales. The average overall days on the market showed a 1% decrease. Closed sales for condos increased by 20%, single family […]

Many Enlist, But Flood Coverage Still Falls Short

Even as flood water continue to sit in living rooms and kitchens across a large swath of North Carolina it is clear that most of those homes are not insured against the damage. Mary Williams Walsh, writing in the New York Times, says that in North Carolina and South Carolina, which suffered less widespread damage, […]