The Anna Maria Island Sun Newspaper

Vol. 13 No. 25 - April 3, 2013

REAL ESTATE

Real estate legislation to watch closely

 

The most important responsibility we have as citizens of the United States is to understand and vote on legislation presented to us, as well as understanding legislation that is moving through state and national legislative bodies on their way to becoming laws. It’s not always easy to do this in view of the busy lives most of us have and the complicated nature of some of these issues, but try we must. There are currently two issues worth keeping an eye on, one which you will be asked to vote on and another making its way through the Florida Legislature.

The first important subject is one that you as voters will determine. The Manatee County Commissioners voted in favor of a referendum on raising the sales tax by a half-cent from 6.5 percent to 7 percent. These funds are to be used to finance community health care for the indigent designed to replace current funding which will be exhausted in 2015. Part of this referendum also includes a provision to lower property tax rates by 13 percent for the unincorporated areas of Manatee County and 26 percent for the municipalities.

If approved the increase in sales tax is expected to generate an estimated $23 million annually. The intention of the proposal is to get everyone living or visiting Manatee County to pay a little more to cover health care costs while keeping property taxes at a level that would encourage growth.

The referendum is currently set to be held on June 18, but within the last week there has been a discussion among the commissioners to postpone the vote 'til later in the year. Some of the commissioners feel that postponing the vote would be a better representation of the electorate since presumably more residents will be available.

The second legislative issue that has been floating around the Florida House for a while is a proposal that would speed up the foreclosure process. Currently lenders have up to five years to pursue a claim after a foreclosure action. House Bill 87 “Fair Foreclosure Act” would shorten the allowable time to one year. In addition, it would allow third-party lienholders such as homeowner associations to route foreclosures through an expedited process rather than through a typical court proceeding, which could last up to five years.

At this time homeowner associations are not paid their maintenance fees by either the defaulting homeowner or the lender. These associations are forced to assess all other homeowners to make up the difference which in condominium complexes can be substantial. It’s not until a lender actually forecloses on the property can associations start receiving their annual maintenance fees.

Homeowner advocates are not supporting this bill indicating any legislation that expedites the foreclosure process ultimately hurts the homeowner. In addition, it is contended that delaying the foreclosure process provides homeowners with more time to be considered for mortgage modification programs and to negotiate alternatives to foreclosure like short sales.

In the case of the referendum you will positively have a chance to voice your opinion and vote accordingly. As far as House Bill 87 is concerned the only thing you can do is contact your representative to voice your opinion assuming it remains on their docket and keeps moving forward.

As far as the impact of these two pieces of legislation on the real estate market is concerned, my personal opinion is that both measures would have a positive effect. Lowering property tax is always good for the market as long as those funds are being recouped in another form, and expediting foreclosures and keeping condominium associations solvent can only help an emerging marketplace.

So do your duty by voting and weighing in on laws that will have an effect on your life. It’s both a responsibility and a privilege in the land of the free.

Real Estate Transactions
Real Estate Transfers from December 2012 and January 2013
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

12/14/2012 399,000 370,000 113 North Bay Blvd. 56.5x110 Ac
12/07/2012 799,000 779,000 811 S Bay Blvd. 2541 75x155 3 Br/2 Ba SFR
12/13/2012 1,300,000 1,100,000 104 Willow Ave.# A 1906 57x100 4 Br/3.5 Ba SFR
12/14/2012 469,000 469,000 118 Palmetto Ave. 707 48x50 2 Br/2 Ba SFR 12/14/2012 812,500 785,000 416 Spring Ave. 1546 52x145 3 BR/2.5 BA SFR
12/18/2012 950,000 800,000 104 Magnolia Ave. 2012 75x145 3 BR/3 BA SFR 12/27/2012 1,299,000 940,000 204 Oak Ave. 3318 73x110 4 BR/3.5 BA SFR
12/28/2012 575,000 540,000 512 Magnolia Ave. 1742 51x145 3 Br/2 Ba SFR
12/28/2012 1,995,000 1,750,000 103 Palmetto Ave. 1930 115x100 2 Br/1.5 Ba SFR
12/31/2012 899,000 900,000 212 Oak Ave. 3780 72x148 5 Br/5 Ba SFR
01/18/2013 725,000 690,000 300 N Shore Dr. 1500 4 Br/3 Ba SFR
01/08/2013 675,000 520,000 834 S Bay Blvd. # A 50x223 Ac
01/08/2013 675,000 520,000 834 S Bay Blvd. # B 50x223 Vac

Bradenton Beach

12/18/2012 389,000 351,000 2317 Avenue C # 300 1620 82 & 85x106 Inc
12/13/2012 319,000 290,000 1000 Gulf Dr. # 2 480 1 Br/1 Ba Condo

Cortez

12/14/2012 124,900 124,900 9604 Cortez Rd. #422 1218 2 Br/2 Ba Condo, Reo/Bank owned
12/20/2012 420,000 380,000 3860MarinersWy.#411 2227 3 Br/3 Ba Condo
01/07/2013 499,000 450,000 4004 128th St. W. #902 1628 3 Br/3 Ba Condo
01/18/2013 349,000 335,000 4112 128th St. W.#603 1762 2 Br/2 Ba Condo
01/25/2013 775,000 713,000 12923 Yacht Club Pl. 2784 4 Br/2 Ba/2 Half Baths SFR

Holmes Beach

12/06/2012 397,000 373,000 3013 Avenue F # U22 984 2 Br/1 Ba Condo
12/07/2012 730,000 625,000 212 52nd St 2656 3 Br/3 Ba Condo, Short Sale
12/27/2012 259,900 240,000 600 Manatee Ave. #225 1176 2 Br/2 Ba Condo
12/28/2012 210,000 193,000 3000 Gulf Dr. # 4 756 1 Br/1 Ba Condo
12/28/2012 600,000 500,000 204 52nd St .# 204 2656 4 Ba/3 Ba Condo, Short Sale
12/05/2012 1,189,000 1,100,000 642 Key Royale Dr. 4252 4 Br/5.5Ba Condo
12/05/2012 549,000 520,000 300 67th St. 1300 50x 100 3 Br/2 Ba SFR
12/07/2012 559,000 550,000 522 72nd St. 1949 100x17 3 Br/2 Ba SFR
12/10/2012 599,000 565,000 310 66th St. 1974 3 Br/3 Ba SFR
12/11/2012 439,000 415,000 215 66th St. 1114 54x105 3 Br/2 Ba SFR
12/14/2012 499,000 485,000 5802 De Palmas Ave. 1520 50x101 3 Br/3 Ba SFR
12/17/2012 489,000 450,000 5608 Holmes Blvd. 1040 2 Br/1 Ba SFR
12/19/2012 629,000 592,000 113 75th St. 1819 3 Br/2.5 Ba SFR 12/19/2012 494,000 469,500 212 81st St .# A 1200 90x90 3 Br/2 Ba SFR
12/21/2012 439,000 430,000 205 77th St. # B 900 2 Br/2 Ba SFR
12/26/2012 379,000 325,000 5903 Flotilla Dr. 1226 2 Br/2 Ba SFR
12/28/2012 399,900 363,750 503 71st St. 1884 95x97 3 Br/2 Ba SFR
12/31/2012 549,000 525,000 3705 Gulf Dr. # B 1227 3 Br/2 Ba SFR
12/31/2012 539,000 525,000 302 67th St. 1450 50x100 3 Br/2 Ba SFR
12/31/2012 1,000,000 800,000 303 68th St. 2000 4 Br/3 Ba SFR
12/31/2012 632,500 507,100 520 74th St. 3232 100x121 3 Br/3.5 Ba SFR, Short Sale
12/31/2012 995,000 940,000 516 83rd St. 1710 3 Ba/2 Ba SFR
01/14/2013 429,000 350,000 5200 Gulf Dr. # 304 1057 2 Br/2 Ba Condo, Short Sale
01/31/2013 425,000 410,000 5200 Gulf Dr. # 502 1169 2 Br/2 Ba Condo
01/15/2013 550,000 525,000 306 56th St. # 2 1620 3 Br/2 Ba SFR
01/18/2013 559,000 500,000 303 74th St. # A 1912 85x109 3 Br/3 Ba SFR
01/18/2013 749,000 700,000 4804 Gulf Dr. 3000 50x90 6 Br/4.5 Ba SFR
01/23/2013 598,000 550,000 208 67th St. 1443 75x105 3 Br/2 Ba SFR
01/24/2013 439,000 405,000 8316 Marina Dr. 1440 83x110 2 Br/2 Ba SFR
01/25/2013 645,000 580,000 520 Bayview Dr. 1970 87x118 3 Br/3 Ba SFR
01/30/2013 559,000 536,750 515 42nd St. 1590 3 Br/3 Ba SFR
01/15/2013 299,900 275,000 212 77th St. 85x98 Vac

 

Source: Manatee County Property Appraiser’s Office


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