Real Estate Blog

Orlando's annual median home price ($149,625) finished out the year 23.66 percent higher than the 2012 annual median price ($121,000), thanks to significant median price improvements every single month in 2013. In fact, Orlando's median price (all sales types combined) has now posted positive year-to-year gains for 29 consecutive months, and has risen 68.76 percent since January 2011.

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Orlando is named one of the "8 Great Destinations for Business Meetings & Events" featured in this week's OBJ.  Click here to read more.

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Suzi Karr Realty reports Congress has extended the Mortgage Forgiveness Debt Relief Act through December 31, 2013. The Act relieves distressed homeowners from having to pay income taxes on the mortgage debt forgiven in a short sale, foreclosure, or principal reduction.

Congress passed a bill, The American Taxpayer Relief Act of 2012, as part of a deal to avert the so-called fiscal cliff. This legislation includes extending the Mortgage Forgiveness Debt Relief Act through December 31, 2013. The law impacts homeowners who are granted principal forgiveness on their loan, due to a short sale, a deed-in-lieu of foreclosure, or have lost their home to foreclosure.

Under the federal tax code, all types of forgiven debt are treated as income, subject to regular…