FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … Keep reading... about FIRPTA Foreign Investment in Real Property Tax Act
Real Estate News & Information
Home Prices in SW Florida
Home Prices Rise Slowly A recent study by Standard & Poor’s and its research partners have determined that home prices across the nation are rising at a moderate rate. This is good news as real estate markets show recovery but have not returned to panic speculation. This, coupled with strong consumer confidence suggests a good time to buy a home. According to economic … Keep reading... about Home Prices in SW Florida
To Build or Buy an Existing Home
There are many reasons to build a new home but there are just as many reasons to consider an existing home. A person considering a move should carefully weigh the costs and challenges whether to build or buy an existing home. In Florida, the average time to complete new home construction is seven months. However, that number is somewhat misleading. Seven months is the … Keep reading... about To Build or Buy an Existing Home
Homeownership in Sarasota Area
Sarasota Homeownership According to research by the National Association of Realtors (NAR), the rate of homeownership has fallen to its lowest level since 1965. Today in many areas, people are renting homes when they actually can afford to buy. For most people, owning a home is their most secure and valuable investment. Homeownership is a way to save money each month without … Keep reading... about Homeownership in Sarasota Area
National Flood Insurance Program NFIP
National Flood Insurance Program (NFIP) US Senators from New Jersey, Cory Booker and Bob Menendez have written a letter to Federal Emergency Management Agency (FEMA) calling for changes to the National Flood Insurance Program (NFIP). The letter states that the agency that oversees flood insurance for millions of homes in vulnerable areas has done too little to mitigate the … Keep reading... about National Flood Insurance Program NFIP