Cape Coral Florida's Real Estate Guide

Well-cared for 2 BR 2BA 1Car Garage, FIRST floor condo in popular Marsh Landing in Estero Florida!  Right  across from Coconut Point Mall, conveniently located between Ft Myers and Bonita near three major malls, the airport and the beach. Don't let this one get away. Hurry before its gone~!  Won't last long~

Call us today for your private showing today!  

WASHINGTON - Feb. 3, 2012 - If a bank writes off debt in a short sale, it's a "taxable event," and the lender tells the Internal Revenue Service about the deal by submitting a "Form 1099-C, Cancellation of Debt" at the end of the year. Home sellers must acknowledge the amount when they fill out their federal taxes. Through Dec. 31, 2012, however, the federal government forgives any tax liability associated with forgiveness of a mortgage loan.

"In general, homeowners believe the government will extend this tax provision," says San Diego Realtor Joy Bender. "However, as evidenced by the First Time Homebuyer Credit expiration in 2010, you can't always count on the government to bail you out."

The government generally considers forgiven debt to be income. If a seller has signed legal loan papers to take out a $200,000 mortgage and the lender accepts $100,000 in a short sale, for example, the seller received the equivalent of $100,000 in free money by government estimates. As a result, the IRS taxes it. For tax year 2012, however, the government still forgives the debt; in 2013, it might not.

The tax amount can be significant. On a debt of $100,000, a short-sale seller in the 25 percent tax bracket could end up owing $25,000 in income taxes.

Since short sales can take months and even fall through, homeowners considering a short sale may want to start the process sooner rather than later.

© a2012 Florida Realtor

Are you looking for a short sale specialist?

The Best Realty Team has a new member who is a Short Sale specialist, Beth Rivera.
Beth has been negotiating Short Sales successfully for her clients and has a great track
record. Over the years she has dealt with almost 75 Short Sales and has a 98% success
rate.

If you feel lost and have questions please feel free to call The Best Realty Team"  for your Short sale needs @ 239-671-3300

They don't call us " The Best Realty Team' for nothing!

This is a Short Sale subject to existing lender's approval which could result in delays. JUST REDUCED! Make Offer! Why gamble when you can have a tried and true sure thing. This sunny, manor home with 2 Bedrooms, 2 Baths and formal dining room in a friendly neighborhood of well cared for homes in Estero, is as desirable now, as it was new. Enjoy the community pool and tennis courts which are steps away from your extra spacious screened lanai. You also have a full view of the golf course from all windows and the lanai. Ownership in the Villages at Country Creek is a unique investment. Check out the low fees in this bundled golf community close to lots of shopping, restaurants and the airport.

Dont miss this amazing oppurtunity!  Call us today @ 239-671-3300...

This home is one of the lowest priced homes located in the beautiful golf and tennis community of Herons Glen in North Fort Myers Florida...A 2 Bedroom/2 Bath home would love a new family! . The home features a living/dining area, nice kitchen with family room, extra large lanai, walk-in master closet, and it also includes a golf cart! Herons Glen offers a clubhouse, pool, spa, restaurant, library, game room, fitness room, and many more amenities! Not a short sale! Not a foreclosure! Motivated Sellers! Come live the Dream!  Don't miss this beauty, take advantage to today's prices while you can!!!

Call " The Best Realty Team " today for your private showing ~  This one is worth looking at!

Fully Furnished Beautiful 55+ condo on 100+ foot Gulf Access Canal. Home features 2 bedrooms and 2 baths, newer kitchen, which is cute as a button . The a/c was just serviced this week, and it has roll down hurricane shutters too! An amazing view from your tiled screened lanai, pristine grounds, well maintained club house with full kitchen and bathroom, heated community pool, new roof and strong association reserves. Complex is conveniently located close to shopping, beaches, restaurants and ONLY one canal away from the Rubicon. Come enjoy the Florida lifestyle. Fast response seller and quick close. Rear view of community center, boat dock and pool. THIS IS A MUST SEE~~ Photo's don't do it justice~

Call " The Best Realty Team" for your private showing today~~~    239-671-3300