Condo rules clash with market realities When some owners of condos in Pelican Cove wanted to hold an open house to help with sluggish sales, it set off a storm of controversy. Barbara Simons gazes at the serene view of Sarasota Bay that dominates the condominium she inherited from her mother, a spacious second-story waterfront …
Monthly Archives: February 2007
Where has the money gone? [South Florida]
Where has the money gone? [South Florida] The arrest of Sarasota businessman Daniel Prewett has investors worried. Dr. Wayne Cohen and his wife invested $462,000 with Daniel Prewett, so the Cohens had reason to be alarmed when they heard Prewett had been arrested on a federal money laundering charge. The couple had given Prewett the …
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Even reluctant landlords can reap tax breaks
Even reluctant landlords can reap tax breaks Perhaps you’re a reluctant landlord. Caught in the housing downturn and unable to sell your house or condo at a decent price in 2006, you may have decided to rent out the property. Now, at tax time, you are left with a jumble of rules you never encountered …
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So what does $250,000 get you these days? [Central Florida]
So what does $250,000 get you these days? [Central Florida] The median resale price of a home in Central Florida has hovered at a quarter of a million dollars for almost a year. A cool quarter of a million dollars. Two hundred and fifty grand. That’s roughly what it takes to buy a typical used …
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Mortgage co-signer’s name shouldn’t be on title
Will quitclaiming interest to relatives have tax consequences? DEAR BOB: About five years ago, I co-signed a home mortgage for my nephew and his wife. They were newlyweds buying their first home. They both had great jobs and great income, but no credit history so I volunteered to help them get a mortgage loan at …
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Toll, Centex, Lennar Join `Moron’ Speculators in Land Grab Bust
Toll, Centex, Lennar Join `Moron’ Speculators in Land Grab Bust Brian Tuttle owns so much land that he paid $3.6 million to get rid of 125 acres ready for development in the middle of Florida’s Palm Beach County. “In 2005, I was a brain surgeon, and in 2006, I was a moron,” said Tuttle, who …
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