Small Business Jobs Act enacts new provision: 1099s will be required for 2011 payments

The recently enacted Small Business Jobs Act includes a provision related to reporting requirements of rental property expense payments. After Dec. 31, 2010, the new law requires those who receive rental income from real property to file 1099s with the IRS for service providers such as plumbers, painters and accountants, who receive more than $600 in payments over the course of the year. Even though the 1099 forms will not need to be issued until early in 2012, it will be necessary to begin keeping track of payment information on Jan. 1, 2011, and to collect completed w-9 forms from service providers to obtain their names, addresses and taxpayer identification numbers.   Exceptions are provided for individuals renting their principal residences (including active members of the military), taxpayers whose rental income doesn’t exceed an IRS-determined minimal amount, and those for whom the reporting requirement would create a hardship (under IRS regulations). 

Included in the provision is an increase in penalties for failure to file 1099s with the IRS. For further information, contact your tax accountant

Call Today

Keller Williams Realty’s At The Beach Team sells more real estate here at the beach than almost anyone and we would be happy to help you a find a great deal here at the beach. Simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.

Real Estate News

Keller Williams Realty’s At The Beach Team  has a series of Real Estate News Blogs keep you up to date on the area your are interested in.  Simply click on the your favorite blog and find more information about it’s real estate market including all Foreclosures and Short Sales and much more. 

The Destin Real Estate News to find more information about Destin Real Estate including all Destin Foreclosures and Destin Short Sales and much more. 

30A Real Estate News to find more information about 30A Real Estate including all 30A Foreclosures and 30A Short Sales and much more. 

Panama City Real Estate News to find more information about Destin Real Estate including all Destin Foreclosures and Destin Short Sales and much more. 

Two Incredible Offers

Real Estate Foreclosure and Short Sale Alerts

Sign up for our Foreclosures and Short Sales Alert and we will send you an email notification as soon as any new Foreclosures or Short Sales hit the market – that way you will never miss an opportunity to get a great deal on Real Estate.

FREE Real Estate Monthly Update

Sign up for our FREE Real Estate Monthly Update and we will email you a report every month showing which Homes and Condos have sold, under contract, currently for sale and all price changes.  This is incredibly valuable information that anyone that owns Real Estate or is interested in Real Estate needs to have and because we want to be your real estate resource here at the beach we will send it to you - free!

Getting A Mortgage?  Don’t Wait Too Long

I saw this reported by Inman News and it tells me that people thinking about buying second homes at the beach should take advantage of the still low cost of money before it’s too late. 

Mortgage Rates Continue Upward Climb
Freddie Mac reported that fixed-rate mortgages rose for a third consecutive week during the period ended Dec. 2.

· Interest on 30-year loans inched up to 4.46 percent from 4.4 percent.

· Rates on 15-year mortgages averaged 3.81 percent, an increase from 3.77 percent a week ago.

Adjustable-rate mortgages were slightly higher as well:

· One-year ARM rose up to 3.25 percent from 3.23 percent

· Five-year ARM moved up to 3.49 percent compared to 3.45 percent.

Source: Inman News (12/03/10)

Call Today

Keller Williams Realty’s At The Beach Team sells more real estate here at the beach than almost anyone and we would be happy to help you a find  a great deal here at the beach. Simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.

Real Estate News

Keller Williams Realty’s At The Beach Team  has a series of Real Estate News Blogs keep you up to date on the area your are interested in.  Simply click on the your favorite blog and find more information about it’s real estate market including all Foreclosures and Short Sales and much more. 

The Destin Real Estate News to find more information about Destin Real Estate including all Destin Foreclosures and Destin Short Sales and much more. 

30A Real Estate News to find more information about 30A Real Estate including all 30A Foreclosures and 30A Short Sales and much more. 

Panama City Real Estate News to find more information about Destin Real Estate including all Destin Foreclosures and Destin Short Sales and much more. 

Two Incredible Offers

Real Estate Foreclosure and Short Sale Alerts

Sign up for our Foreclosures and Short Sales Alert and we will send you an email notification as soon as any new Foreclosures or Short Sales hit the market — that way you will never miss an opportunity to get a great deal on Real Estate.

FREE Real Estate Monthly Update

Sign up for our FREE Real Estate Monthly Update and we will email you a report every month showing which Homes and Condos have sold, under contract, currently for sale and all price changes.  This is incredibly valuable information that anyone that owns Real Estate or is interested in Real Estate needs to have and because we want to be your real estate resource here at the beach we will send it to you - free!

Are Destin Area Condos?  Yes!

For all of you out there who own a Destin Condo For Sale, a Panama City Condo For Sale or are thinking about selling your condo at the beach this fall and are curious if anything is selling I can tell you that yes both Destin and Panama City Area Condos are selling!  Here is a recap of the Destin Area and Panama City Area Condo sales for October

Destin Condo Sales

• Number of Destin Area Condos Sold:  110
• The lowest Price: $50,000
• The Highest Price: $2,150,000
• The Average Price: $314,408

As you can see there was a pretty diverse range of Destin Condos sold over the last 30 days. 

Destin Condo Foreclosures and Short Sales

Here is another interesting statistic for those of you selling or considering selling your condo at the beach:

55% of all condos sold in October were either a short sale or foreclosure.  This is down a little from the highs of 65+ but still very high which is good news but still very problematic for Destin Condo Sellers. 

Search Destin Condo Foreclosures and Short Sales

Panama City Beach Condo Sales

• Number of Destin Area Condos Sold in October:  54
• The lowest Price: $70,000
• The Highest Price: $665,000
• The Average Price: $216,462

As you can see there was a pretty diverse range of Panama City Beach Condos sold over the last 30 days. 

Panama City Condo Foreclosures and Short Sales

Here is another interesting statistic for those of you selling or considering selling your condo at the beach:

37% of all condos sold in October were either a short sale or foreclosure.  This is down a little from the highs of 60+ but still very high which is good news but still very problematic for Panama City Condo Sellers. 

Search Panama City Condo Foreclosures and Short Sales

Thinking of Selling Your Destin Condo?  How About Your Panama City Condo?

I know that it’s a tough market for sellers right now and I certainly would not advise you sell unless you had to or if you could use your money better somewhere else.  If you are curious about the value of your property simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com  and I will be happy to do an analysis on where the value is for your property right now and what it will take to get it sold quickly for the best price possible.  Then if it makes sense to sell we can move forward or if it makes more sense to wait we will simply monitor the market until the time is right.   

We Want To Be Your Local Real Estate Resource

My team and I sell more condos here at the beach than almost anyone and we would be happy to help you sell your Destin or Panama City Condo when the time is right.  In the mean time we want to be your real estate resource at the beach so if there is anything we can do for you just call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.

Ever wonder what houses are selling for in other parts of the country?  I’ve heard for years that prices are extremely high in California so I thought I’d take a look and see how we compare and here is what I found. 

California First

 I was on Lenny LaRocca’s web site www.southbayhomeexpert.com – Lenny covers the Hermosa Beach area in California and I saw that this house in Torrence CA recently sold for $619,000.  It was built in 1954, has 3 bedrooms, 2 bathrooms and 1,338 sq. ft.   

What About Florida?

By comparison this house in the gated community of Kelly Plantation in Destin Florida sold recently for $600,000.  It was built in 1998, has 4 bedrooms, 4 bathrooms and 3,350 sq.ft. 

Interesting isn’t it? 

For more information on Destin Homes For Sale or Destin Condos For Sale simply click on the links and let Keller Williams Realty’s At The Beach Team help you get your place at the beach – relatively cheap!

Are the effects of the new Panama City airport are already being felt?

Check out the deal Delta Airlines is running right now on airfare from Northwest Florida Regional Airport to Atlanta.   Granted it’s a short term promotion and has to be taken advantage of this weekend but it does bring exposure and accessibility to the area in Atlanta – a major feeder market for 30A Real Estate.  When the new airport opens I think you will see more deals like this in cities that Southwest flys such as Houston, Washington DC and Orlando. 

How does this effect 30A Homes, Condos and Land For Sale? 

More exposure to more areas will open more peoples eyes to how wonderful Florida’s Emerald Coast is and the incredible deals on 30A Real Estate right now. 

Click on the picture to book a ticket.  If you have questions about 30A Real Estate For Sale including 30A Foreclosures or even 30A Short Sales simply give us a call at 850-654-3325 or send an email to JohnMoran@AtTheBeachTeam.com

Four Cities to flight non-stop from Panama City, FL

Southwest Airlines announced that it will fly directly to Orlando, Houston, Nashville and Baltimore from the new airport under construction.

The flights fare will start as low as $49 one way…

and there will be two flights a day from each destination.  These low fares will force other airlines to reduce their fares to stay in the game. Southwest Airlines anticipate serving around 2,000 travelers a day.

These strategically chosen cities will provide semi-direct flights to Chicago, New York, Dallas and Ft. Lauderdale. Semi-direct flights mean that you will stop before arriving to your destination, but will not leave the plane. You can book your direct flight now at www.southwest.com.

Go to www.AtTheBeachFl.com for things to do in South Walton

Florida Panhandle Beaches are a Top Destination

I am really proud to say that one of the top destinations for 2010 is the place I live in. Out of thirteen destinations all over the word, I am not surprise that Florida Gulf Coast is one of them. This place is amazing! There are things to do for the entire family.  The Florida Panhandle Beaches are a must see destination.

This place has been overlooked by many, but the true is that it contains some of the most diverse recreation choices along Florida’s Gulf coast, and some of the best options for visitors seeking an affordable family vacation.

Watercolor home for sale as a short sale – click on picture for details

Looking for a great deal on 30A real estate?  Be sure to check out 30A Short Sales

Here is the deal - 30A Short Sales may take a while to work through but man if you are patient you can get great deals on real estate at the beach.   We are seeing banks take as low as $50 cents on the dollar for condos, homes and land.  Take a look at these examples…

Watercolor Short Sales: Last year a watercolor lot that sold in 2005 for 625,000 sold for just $224,900!  Amazing!  Click on the link to see all …

 the current watercolor short sales including Watercolor Homes, Watercolor Land and Watercolor Condos.  Also follow Watercolor Short Sales at the Watercolor Real Estate News.

Check out this Watersound Condo Short Sale – Click on picture for details

Watersound Short Sales:  There are a number of Watersound Short Sales available right now so if you want to see what kind of deals you can get check out the Watersound Real Estate News.

Rosemary Beach Short Sale – Click on picture for details

Rosemary Beach Short Sales?  Absoultely!  Rosemary Beach Short Sales are also a great way to find tremendous bargains on Rosemary Beach Homes For Sale, Rosemary Beach Land For Sale and Rosemary Beach Condos For Sale.  Don’t miss out on any Rosemary Beach Short Sales and sign up for the FREE Rosemary Beach Short Sales Alert where we will send you an email as soon as a Rosemary Beach Property hits the market!

Are There More 30A Short Sales?

These are just a few of the deals that people are getting through 30A short sales and there are many many more to be had, but the go fast, so don’t miss out on your gread deal on 30A and Sign Up for our FREE Short Sale Alerts and we will email you every short sale as soon as it hits the market. 

Call your 30A Real Estate Resource Keller Williams Realty’s At The Beach Team  for all your real estate needs.  Today!