Sarasota Association of Realtors Report Single Family Home Median Prices Up 20.6 Percent in November In their January news posting, the Sarasota Association of Realtors provided the following information on the Sarasota real estate market for November. Median sale prices for single family homes sold in Sarasota County in November 2013 were up 20.6 percent over last ...

In the Market for a Home Loan? ACT FAST before Mortgage Loan Limits Change in 2014. Important news if you are in the market for a home loan: Effective January 1, 2014, the loan limit for FHA for Sarasota and Manatee Counties has been REDUCED to $285,200. This means that if you have been sitting on the fence about obtaining a mortgage, NOW is the time to apply for a ...

5 Questions for Attorney Jo Ann Koontz Here are five questions for real estate attorney and certified public accountant, Jo Ann Koontz. Jo Ann is founder of Koontz & Associates, PL, a law firm that focuses on Residential and Commercial Real Estate Law, Business Law, and Tax Law. Jo Ann is uniquely qualified to handle real estate legal matters and help to minimize ...

The IRS has issued final regulations that provide user fees charged for processing installment agreements and offers-in-compromise. The regulations affect taxpayers who want to pay their federal tax liabilities through installment agreements and offers-in-compromise. These regulations are effective on December 2, 2013, and apply to installment agreements entered into, ...

BEWARE of Phishing Scams and Email Fraud! Recently, a client received a fairly official looking email from what appeared to be the IRS. Upon closer inspection, it was not from the IRS at all. Instead, it was a bogus notice fraudulently posing as the Internal Revenue Service. The attempt was to acquire social security numbers and personal financial information. NOTE: The ...

IRS Delays Processing of 2013 Taxes The Internal Revenue Service (IRS) announced that due to the 16-day government shutdown, they will begin processing tax returns one- to two-weeks later than planned. The original start date was January 21, 2014. With this delay, the tax season could begin no earlier than January 28 or as late as February 4, 2014. The IRS will not ...

WHY DO I NEED A REAL ESTATE ATTORNEY? There is an old lawyer joke: How many lawyers does it take to change a light bulb? Answer: Fifty four. Eight to argue, one to get a continuance, one to object, one to demur, two to research precedents, one to dictate a letter, one to stipulate, five to turn in their time cards, one to depose, one to write interrogatories, two to ...

Flood Insurance Rate Increase Impacts SW Florida Real Estate Purchases Buyers considering the purchase of a coastal Florida home need to be aware of recent changes in flood insurance coverage. Properties located in designated flood zones V, A (except AR and A99) or D are facing significant flood insurance rate increases over 2012 rates due to the change in federal ...

The Limited Liability Company (LLC) has become an increasingly popular vehicle for the foreigner buyer, or real estate investor seeking to establish a level of personal liability and asset protection, while minimizing their tax liability. An LLC with foreign members has the flexibility to decide whether to be taxed as a partnership, C corporation or, in the case of a ...

The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in their homes. Beginning July 1 2013, servicers will be required to offer eligible borrowers who are at least 90 days delinquent on their mortgage an easy ...