Florida Real Estate Blog | Florida Team Realty

Florida Short Sale Sellers Could Be Taxed As Income On Sale

On April 2, 2012, in Florida Real Estate Blog, by Marc Vitorillo

Under U.S. law, a homeowner with an underwater mortgage who goes through a short sale has part of his or her debt forgiven by a bank. The amount forgiven is legally considered income, as if the lender gave the owner a monetary gift by saying, “You no longer have to pay this.” As a gift, [...]

Who Are The Biggest U.S. Mortgage Lenders

On February 21, 2012, in Florida Real Estate, Florida Real Estate Blog, by Marc Vitorillo

Residential originations fell in 2011, and some lenders saw a bigger decline than others, according to MortgageDaily.com’s 2011 Mortgage Lender Ranking. The government’s role in residential finance was reduced last year. Fourth-quarter originations by all lenders were an estimated $381 billion, up from approximately $317 billion closed three months earlier. The biggest fourth-quarter lender was [...]

Florida Real Estate: More Deals Falling Through

On February 8, 2012, in Florida Real Estate, Florida Real Estate Blog, by Marc Vitorillo

Appraisals coming in lower than the agreed-upon sales price continue to cause more real estate deals to be cancelled, recent surveys show. In December, a third of real estate professionals reported they had a real estate contract fall through, up from 9 percent a year earlier. The National Association of Realtors®, along with other housing [...]

Florida Real Estate Bargains for International Buyers

On December 30, 2011, in Florida Real Estate, Florida Real Estate Blog, by Marc Vitorillo

Florida real estate prices have dropped significantly since 2005. Enticing prices, inventory and low-rate financing are just a few reasons that international investors are buying homes, condos, lofts, villas and golf course real estate properties in Florida. You have an incredible opportunity to own Florida real estate. In fact, there has never been a better [...]

Why Home Ownership Matters

On September 22, 2011, in Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

A number of research studies have shown that home ownership provides social and societal benefits. Not only is home ownership one of the best ways to build long-term wealth, providing resources for a more comfortable retirement, but it also fosters an immeasurable sense of community and stability vital to growing families. NAR’s “Social Benefits of [...]

The Importance of Mortgage Interest Deduction

On August 22, 2011, in Florida Real Estate Blog, by Marc Vitorillo

There’s no question we’re dealing with difficult issues when it comes to the future of our nation’s economy, but in the process, we must not lose sight of the values that helped make our country strong in the first place. Major changes to home ownership tax benefits like the mortgage interest deduction could adversely affect [...]

A New Bill to Expedite Short Sales?

On May 9, 2011, in Florida Real Estate, Florida Real Estate Blog, by Marc Vitorillo

Short Sale Relief on the Horizon? A new bill introduced in the U.S. House of Representatives could bring relief to distressed home owners hoping to avoid foreclosure through short sales. The “Prompt Decision for Qualification for Short Sale Act of 2011” would impose a deadline of 45 days on lenders to respond to short sale [...]

Tax Time and Tax Benefits

On April 3, 2011, in Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

Tax season is underway and deadline is just around the corner. American home owners are once again enjoying the benefit of the mortgage interest deduction. The ability to deduct the interest paid on a mortgage can mean significant savings for these home owners. For example, a family who bought a home last year with a$200,000, [...]

Florida’s Existing Home, Condo Sales Up in January 2011

On March 6, 2011, in Buyer Tips, Florida Real Estate, Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

Florida’s existing home and existing condo sales rose in January, according to the latest housing data released by Florida Realtors®. Existing home sales increased 14 percent last month with a total of 12,151 homes sold statewide compared to 10,702 homes sold in January 2010, according to Florida Realtors. January’s statewide sales of existing condos rose [...]

Tampa and Orlando, Better to Buy Than Rent in 2011

On January 7, 2011, in Buyer Tips, Florida Real Estate Blog, by Marc Vitorillo

I get asked many times from potential buyers, especially from college students and single professionals, if they are better off renting than buying. The answer is…it depends. Depends on how long they will stay in the property, their financial situation, job security, cash flow, etc. But all else equal, we can then look at local [...]