Hot Property

Wall Street Reform Impact On Real Estate

Relatively few of the pages of legislation touch on real estate finance directly. Much of the bill addresses the way hedge funds, banks, and other financial services companies are regulated. One of its centerpieces is the new Financial Stability Oversight Council, which will have the job of issuing alerts when it sees lending practices becoming [...]

Property Tax Relief for Commercial Waterfront Owners

The 2010 Florida Legislative Session just ended.  Several significant bills were passed regarding real estate and property ownership.  One very important bill is SB1408. Guidelines for appraising commercial waterfront properties. In 2008, voters approved a constitutional amendment directing property appraisers to base the assessments of marinas, fisheries, boat builders and other “working waterfront business” on [...]

“CAP AND TRADE” INACCURATE INFORMATION For Homeowners.

Recently, an email began re-circulating with some erroneous information in it about the American Clean Energy and Security Act (HR 2454) that was passed by the House last year.  Please be aware that the claims that HR 2454 requires a license or retrofit by property owners to sell their home, are not factually based.  If you [...]

Will MOBILITY FEEs replace Hillsborough County IMPACT FEES?

Per a Florida State law passed in 2009 (SB-360) Hillsborough County is considering a MOBILITY FEE.  Buried in the law is a requirement for local government to consider having builders and developers pay for the impact to public roads and transportation brought on by development.  This sounds reasonable enough in it’s simplest form, doesn’t it? Please understand that since [...]

National Broadband Plan – Could make your home worth more.

On September 8, The National Association of REALTORS (NAR) filed a comment letter with the Federal Communications Commision (FCC) in its proceeding to develop a national broadband plan. NAR supports the FCC’s efforts because the business of real estate is increasingly conducted online. Streaming video, virtual tours and voice-over-internet-protocol are just some of the technologies [...]

New Law requiring Appraisers to be College Educated may have a Fast Track here in Florida

DBPR accelerates licensing for appraisers, approves FSU pilot program ORLANDO, Fla. – March 9, 2009 – College graduates hoping to become real estate appraisers may be able to go through an accelerated licensing process under a new initiative, which seeks to eliminate submission of college transcripts as part of the application. The Florida Department of [...]

STATE OF THE ONION as it were between Florida Legislators and REALTORS for 2009

The Florida Association of REALTORS® will focus our 2009 legislative advocacy on efforts to stimulate our state’s economy.  Following the Legislature’s January special session to plug a $2.8 billion budget deficit, Florida lawmakers will certainly spend a good part of the next two months cutting the budget even further and possibly looking at new taxes [...]

Fannie Mae to allow Investors to have up to 10 financed properties

Qualified investors who’s business isreal estate should be able to leverage their investments and grow their business.  This is especially important in today’s economic dilemma.  The modification of this rule may help to energize our real estate markets.  The key to success will be making certain the investors are qualified and able to sustain their [...]

Offshore Oil Drilling Ban Soon To Be History.

With our large amount of Florida Coastline, Team Sumberg has been paying close attention to the offshore drilling debate.  Our beaches here in the Tampa Bay area are one of our most prized resources and we want to make sure that no harm comes to them.  WASHINGTON – Sept. 25, 2008 – The House of [...]

Shortsales, Closings and Doc Stamps in Florida

Team Sumberg just received this update that addresses the questions regarding Documentary Stamps on Short Sales in Florida.  You are welcome to contact us with questions or for a copy of the TAA. info@TeamSumberg.com The Florida Department of Revenue (DOR) issued a ruling late yesterday stating that doc stamp taxes owed on a short sale [...]