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Property Overassed ? Realty Property Tax Appeal Services

Posted on April 17, 2009 by admin

Cuyahoga County had its regular property assessment in 2006. Many of us homeowners in Cuyahoga County were not happy with new property taxes. The timing was not perfect, as property tax increase came along with sub-prime crisis, growth of foreclosure rate and market price adjustment of 2007. Many homeowners notice that assessed value is much higher than possible market value of their homes. There is a way to reduce your taxes if you file a complaint with Cuyahoga County before the end of the day of March 31, 2008. You may find all the forms and information about the procedure at the web site of Cuyahoga County Board of Revision http://bor.cuyahogacounty.us/.

As we get a lot of inquiries from our clients regarding the market condition in their neighborhoods, we in Local-n-Global Realty decided to offer our clients and friends free Market snapshot services. Please go to the front page of www.Local-n-Global.com and fill in the Evaluate your house form. You will receive the most up-to-date information about house listings and sales in your neighborhood. If you see that your house is over-assessed in comparison with the market value of the similar houses in your community, you may go ahead and ask the County Auditor for tax relief based on real market condition in your area. Please do not hesitate to use this service. It is accurate. It is free. We are here to help you.

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We want our communities to prosper, our schools to get stronger, and our neighborhoods to be better. We are responsible tax payers. BUT – if there is any mistake in you

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Assessment mistake will cost East Chicago

Posted on April 16, 2009 by admin

The North Township assessor made an error that will result in an estimated $11.5 million shortfall in East Chicago’s tax revenue, the assessor confirmed Thursday.

Assessor John Matonovich publicly acknowledged the mistake in a letter released Thursday by his chief deputy, Margot Miller. Miller said Matonovich would have no further comment on the matter.

Sherry Stone, an assistant to Lake County Assessor Paul Karras, said the error apparently occurred when the township’s assessment of the ArcelorMittal steel plant was mistakenly entered twice into the county’s database under the separate names of Inland and Mittal.

Inland changed its corporate name after merging into ArcelorMittal, the world’s largest steelmaker.

Matonovich states in the letter, “As you are aware, a data input error in my office has erroneously produced a $151 million assessment notice, which will result in a $11.5 million shortfall in tax collections for the City of East Chicago.

“I assume full responsibility for the error. I apologize to Mayor Pabey, the elected officials of East Chicago and to the citizens of East Chicago for this gross error.”

In the letter, Matonovich also promised added levels of review to ensure similar situation will not reoccur.

James Bennett, a financial consultant for East Chicago, said he is trying to determine the impact of the error but believes Matonovich’s multimillion dollar estimate may be too high.

“We don’t know all the facts. We are going to have everyone sit down in the same room and figure it out,” Bennett said.

Bennett said the city budget already is under stress because of a state-mandated property-tax freeze that will deny $2 million to the city budget this year. He said proposed pay raises for employees may be jeopardized.

Stone said the township assessors have been struggling with the new system of linking property taxes to real estate market values.

Last month, Ross Township Assessor Randall Guernsey said his office is correcting an undervaluation of Westfield Southlake mall, more than doubling the shopping center’s tax value to make it right.

And last spring, a vacant lot in East Chicago was mistakenly given a $1.2 billion value because of a clerical error, with a North Township assessor’s employee mistaking square feet for acres, the township assessor reported.

http://www.thetimesonline.com/articles/2008/01/04/news/top_news/doccb0d2f76ac8e1952862573c60004bf98.txt

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Real Estate Briefs

Posted on April 16, 2009 by admin

list of real estate briefs.

Officers elected

The CCIM Institute’s Southwest Florida District has elected its 2008 officers. Jim Tamblyn, CCIM, senior commercial property specialist with Colliers Arnold, was elected to a second term as the district’s president. Laura Fish, CCIM, broker/owner with Platinum Coast Investment Realty Inc., was re-elected vice president; Adam Palmer, commercial associate with Coldwell Banker Commercial NRT, was elected treasurer; and Andrew Falde, commercial property specialist with Colliers Arnold, was elected secretary. The district will hold its eighth annual Real Estate Outlook Conference on Tuesday, Jan. 22 at Harborside Event Center. To learn more about the district’s activities, or to register for the Outlook Conference, visit chapters.ccim.com/floridasouthwest.

Estate home under way

Florida Lifestyle Homes of Fort Myers Inc. has broken ground for its newest estate home in the Via Largo neighborhood of Renaissance, a single-family community of luxury homes in south Fort Myers. The Sarzana is a four-bedroom, four-bath with study great room plan offering 5,868 total square feet. Features include an outdoor living area and pool with a sun shelf surrounding a raised spa, swim-up bar and negative edge waterfall between decorative planters. The home is priced under $1.9 million and includes homesite, pool/spa and architectural design upgrades. Renaissance is a Worthington Communities golf course development off Daniels Parkway, immediately west of Interstate 75.

Are your property taxes too high ?
Commercial / Business / Residential / Assessment Appeals
Sytko Property Services

REIS meeting

Mark Vintner, senior economist for Wachovia Bank, will visit Fort Myers to offer insight on national and regional economic trends. The presentation will take place at the Real Estate Investment Society (REIS) Tuesday, Feb. 12 luncheon meeting. Vintner is an analyst of market trends and federal economic policy. His presentation to REIS is expected to focus on real estate lending practices, capital markets, the housing industry, and the implications for Southwest Florida. The meeting begins at 11:45 a.m. in the Magnolia Room at Pelican Preserve’s Town Center on Colonial Boulevard, one mile east of Interstate 75’s Exit 136 in Fort Myers. Admission is $25 for members and $35 for guests, which includes lunch. Reservations are required by Thursday, Feb. 7 and may be made by calling Sharon Heston at 239-410-1253, or by visiting the REIS Web site at www.reis-swfl.org.

Affiliation noted

Naples Realty Services Inc., dba ONESource Real Estate Services Center, announced an affiliation with Joseph I. Cruz, agency principal of the Allstate Insurance office on Mannix Drive in Naples. Cruz has become licensed as a real estate sales associate to combine his established insurance consumer services with ONESource. He is a graduate of SUNY College at Old Westbury, N.Y. with a degree in business administration. Prior to relocating to the Naples area in 2000, Cruz was engaged in financial services and resort area real estate brokerage in New Jersey.

Homesites remain

Seven homesites remain for sale at Banyan Bay on Winkler and Summerlin roads in Fort Myers, where new single-family homes are priced from the $260s. Joe Fontana, president of Ryland Homes in the Fort Myers region, said Ryland Mortgage is offering new homebuyers at Banyan Bay up to $10,000 toward closing costs. New three- and four-bedroom single-family homes at Banyan Bay range from 1,697 square feet of living space to 3,130 square feet, with 2.5 baths and two- and three-car garages.

Subsidiary company formed

The marketing and public relations firm of Ottenstein Marketing has launched a new division: WEB.WRITER, a auxiliary company that specializes in writing succinct, sales-generating copy targeted specifically toward Internet marketing and Web site design. Ottenstein Marketing and WEB.WRITER are both owned by Marla Ottenstein and specialize in the development and execution of individualized marketing strategies, which are custom designed to the clients’ needs. WEB.WRITER has conceptualized and written the text for several local Web sites, including Morris Law Offices LLC, Heatherwood Construction, Lodge Construction, Total Concept Inc. and Ottenstein Marketing. Additionally, WEB.WRITER wrote the text for the architectural firm of Poole & Poole Architecture in Richmond, Va. and Atlanta. The firm also offers writing services for brochures, newsletters, advertisements and resumes and professional biographies. The Web site is www.ottensteinmarketing.com.

Construction under way

Fort Myers-based J.L. Wallace Inc. has begun construction of a clubhouse at River Strand Golf and Country Club in Heritage Harbour, a new community developed by Lennar Homes in Bradenton. The 39,750-square-foot clubhouse will include a full-service restaurant and bar, kitchen, card room, billiards room, golf and tennis pro shops, snack bar, a fitness center and aerobics room, a locker room and golf cart and bag storage. The project also includes a swimming pool, resistance pool and spa. David Grossman of J.L. Wallace is serving as project manager, and Robbyn Spears is serving as senior project manager assistant. Jim Ruby is the superintendent. Fawley Bryant Architects Inc. provided architectural design services.

Property tax forum

The Greater Naples Better Government Committee will present an educational forum entitled “The Legislature’s Property Tax Reform, Will it Help or Hinder Progress in Collier, in Florida?” The forum will be held Thursday, Jan. 17 at 6 p.m. at the Naples Hilton, 5111 U.S. 41 N. The forum is free and open to the public. Collier County Property Appraiser Abe Skinner and Collier County Manager Jim Mudd will speak to the financial benefits to citizens and to the implications for the future of government services. Lt. Gov. Jeff Kottkamp and County Commissioner Fred Coyle will offer their views of benefits gained or losses expected from this legislation.

Condo course offered

A free course on conflict resolution for condominium and cooperative board members and unit owners will be held on Thursday, Feb. 7 from 8 a.m. to 11 a.m. at the Seven Lakes Condominium Association, 1965 Seven Lakes Blvd., Fort Myers. The course will be taught by Community Associations Institute (CAI), the designated condominium and cooperative educational provider of the State of Florida’s Department of Professional and Business Regulation, Division of Florida Land Sales, Condominiums and Mobile Homes. The course will explore the role of the board of directors in creating and enforcing rules as well as how those rules ultimately impact unit owners. It will also review basic principles of group interaction, conflict management and communications and describe constructive steps that unit owners can take to prevent conflict from escalating into costly and damaging disputes. This course does not count for CEUs for community association managers. Registration is required. To reserve a space, call Laura Hagan at 727… or e-mail FLeducation@caionline.org.

Headquarters 50% completed

FineMark National Bank & Trust, a nationally-chartered bank and trust company serving Southwest Florida, announced that construction of its new corporate headquarters is proceeding on schedule and has reached the half-way point. The new headquarters is at Riverwalk at Whiskey Creek, immediately north of College Parkway off Winkler Road in Fort Myers. The 20,000-square-foot, two-story building will offer private client rooms, dining facilities, a vault with safe deposit boxes and drive-thru service. The facility will also include a first-floor community room with seating for 120 guests. The new headquarters was designed to reflect the architectural style of Frank Lloyd Wright. Bruce Gora, of Gora McGahey, designed the building. Owen-Ames-Kimball is the general contractor for the project. Completion of the facility is scheduled for the first quarter of 2008.

Contract awarded

Fort Myers-based J.L. Wallace Inc. has been awarded a contract to build a 22,000-square-foot education building for Cape Christian Fellowship, a non-denominational Christian church at 210 Chiquita Blvd. in Cape Coral. The new building will allow the church to offer additional services to its members. The first floor of the two-story building will offer approximately 16,300 square feet, and the second floor will offer 5,700 square feet. The building will include hollow-core slabs, structural steel, built-up roofing, carpentry, stage areas, cabinetry and elevators. J.L. Wallace is also providing the comprehensive site package including paving, storm drainage, site lighting and concrete, landscaping and irrigation. Harold Morgan of J.L. Wallace will serve as the senior project manager, and Bev Valdes will serve as project manager assistant. Construction is expected to start in February with completion in December.

Gilkey speaks at conference

Dennis Gilkey, CEO of Gilkey Organization, gave a presentation entitled “Sustainable Master Planned Communities” at the Treasure Coast Green Conference, a day-long event hosted by St. Lucie County and the cities of Port St. Lucie and Fort Pierce. Gilkey, who is a member of the Century Commission for a Sustainable Florida, also spoke about the commission’s work, factors affecting future growth in Florida and principles for sustainable master planned communities.The Treasure Coast Green Conference featured speakers who highlighted green success stories, trends in green development and challenges and opportunities associated with creating green communities on the Treasure Coast. It was attended by more than 450 individuals from 200 organizations.

Construction milestone reached

Trish Biebricher, vice president of marketing and communications at Moorings Park, hosted a topping-off celebration for the new Courtyard Residences on Dec. 20, 2007. The new independent living Courtyard Residences offers 32 custom floor plans ranging from 1,345 to 4,365 square feet, all with private elevators and first-level parking. Each apartment was designed and coordinated with the resident and architect, Phil Kreig, from Burt, Hill, Pollock and Kreig. Moorings Park is a nationally accredited, not-for-profit, Medicare-certified community.

Transactions

Gates D’Alessandro & Woodyard Realtors announced the following transactions:

Championship Circle Holdings Inc. leased 200 square feet of office space at the Pinebrook Park Complex from Harry M. Lowell. Steve Wood negotiated the transaction.

Auditory Associates of Sanibel Inc. leased 1,200 square feet of office space at the North River Center on U.S. 41 North in Fort Myers from TBM Properties. John Kremski and Todd Holman completed the transaction.

New You Studio Inc. leased Units 110 and 209 to be used as a fitness studio at the Pinebrook Park Complex. Harry M. Lowell, Holman and Wood completed the transaction.

H.I.S. LLC leased 4,762 square feet of office/warehouse space for a granite/Corian countertop business at the Billy Creek Commerce Center from Central Park Office Complex LLC. Kevin Rosenthal negotiated the transaction.

Muzak LLC leased 2,560 square feet of office/warehouse space at Airport Woods from Suffield Investments LLP. Kremski and Holman completed the transaction.

Investment Properties Corp. reported the following transactions:

American Royal Arts Corp. leased 1,105 square feet of retail space at 785 Fifth Ave. S. in Naples from Mom’s Partners. Paige Eber negotiated the transaction.

M&M Developers LLC purchased a 6,750-square-foot industrial building on 0.62 acres at 2001 Seward Ave. in Naples from Mark and Paula Yamin for $865,000.

Naples Mattress LLC leased 1,000 square feet of industrial/warehouse space at 5700 Taylor Road, A-2 in Naples from WVG Limited Partnership. Christine Gonnering Martin negotiated the transaction.

CB Richard Ellis reported the following transactions:

Fifth Third Bank has purchased 2.2 acres at 17100 U.S. 41 S. in Fort Myers from Collier Florida Properties LLC for $2,659,575. Dan O’Berski, Larry Foster, Glenda Fortune and Bill Young represented the buyer.

Department of Lottery has leased 4,100 square feet in the Metro Park Business Plaza at 2830 Winkler Ave. in Fort Myers from Metro Park of Ft. Myers LLC. Scott Dunnuck represented the landlord, and Kim Colquitt of Staubach represented the tenant.

Floor’d Inc. has leased 2,293 square feet at 1440 Railhead Blvd. in Naples from Byron Trerice, J., Trust. Fred Kermani represented the landlord, and Aaron Lynch of Downing-Frye Realty Inc. represented the tenant.

Groskreutz & Garner has leased 1,336 square feet in the M&I Building at 800 Laurel Oak Drive in Naples from NNN Naples Laurel Oak LLC. Dunnuck brokered the transaction.http://www.naplesnews.com/news/2008/jan/12/real-estate-briefs-jan-13-2008/

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Example Effects Real Estate Property Valuations Decreases

Posted on April 16, 2009 by admin

The 1031 Tax Group victim’s list continues to get longer and more compelling with the following comment-letter I received this past week. Like Elizabeth and the other victims of the Okun owned 1031 Tax Group, Rudy Lozano is a victim with the type of story we all should be alarmed about hearing.

Even worse, Rudy is a Real Estate Broker which proves that this type of scam can happen to anybody at anytime!

If any of my reputable QI’s, attorneys, CPA,s, journalists, or qualified investment professional readers can and will help Rudy, please comment or better yet contact Rudy Lozano. Together maybe we can find answers or a resource that Mr. Lozano may utilize in his efforts to get help:

“My name is Rudy Lozano and I am a first generation Mexican American and proud owner of a REMAX Franchise in San Antonio. On the advice of a my fee attorney in San Antonio DBA Lawyer’s Title I was recommended this national exchange service.

I am NO attorney but on the advice and opinion of this attorney I took his advice and deposited my 1031 exchange $$$.

My question is do I have any recourse against this fee attorney?

I am not sure if a kick back was involved from recommending the service but the attorney could have nonetheless referred me to the state insured and nationally recognized 1031 exchange that Lawyers Title has in place rather than one that was not regulated and had nothing to do with his parent company and or firm.

This attorney is a millionaire and I am penny-less!!!!!

I cannot understand if Okun has over 700k million in assets why the BK Court is not pushing to sell all assets NOW to satisfy all pending claims that are under 300k million?

Can someone explain this to me as if I were a 3 year old.?????

My parents who are 70 years old sold this property so that I could expand my business and take care of them like a good son does. NOW I have no money and a $1500 debt monthly that I pledged to my parents to ensure they did not have to rely on SSI. My obligation is pending to my parents who could no longer handle this rental property due to their age-on money I never even have seen, used or might never even get back. Till this day they do not know the money is missing or what happened in fear their health will diminish.

If there is a GOD or JUSTICE in this world OKUN needs to dispose of all his assets to satisfy those of innocent hard working people.

He needs to be reported to any and all reporting agencies that have to do with securing a loan, job or passing securities and exchange clearances. I have filed a postal criminal claim against this sub-human being.

Devastated Still with NO hope in San Antonio, TEXAS.

Why does the government and the IRS wish NOT to be involved?

We must learn from our past mistakes and ensure that capitalism continues to reign in this free world but we must go after unethical people with a passion for JUSTICE.

For all of you that are suffering GREAT financial emotional,spiritual and physical stress, GOD Bless YOU!

YOu are NOT alone.”

Sincerely,

Rudy Lozano,
Broker of Record
RE/MAX Fidelity Realty

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Local tax foes vent anger

Posted on April 15, 2009 by admin

Top story

PROTESTERS IN THE PARK

Local

Local tax foes vent anger

United by a desire for lower taxes, a group of Americans took to the streets after paying their taxes Wednesday for their first protest.