Entries by KarenKohler

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, […]

FAQ’s – Recording Documents in Leelanau County

By Alicia Kellogg Here are some frequently asked questions regarding recording documents specifically for Leelanau County: Question: What are the document recording requirements? Answer: Signatures must be original, and the names must be typed or printed beneath signatures. MCLA 565.201 Sec. 1(a) The name and address of the person who drafted the document must appear […]

Facts About Credit Scores Loan Officers Need to Know

Editor’s note: Guest post provided by business development and education expert for American Reporting Company (ARC), LLC., Mike Olden. Here are a few facts about credit scores loan officers need to know, because in the mortgage finance industry we sometimes hear the following from borrowers: “Are all credit scores the same?” or perhaps more often, […]