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From the staff of the Tampa Bay Times

Omitting facts, conservative pub misleadingly questions Nelson's condo deal with contributor

The conservative Washington Free Beacon is out with a report questioning Democratic Sen. Bill Nelson's recent purchase of an Orlando condo. But as our colleague Marc Caputo of the Miami Herald points out, it's lacking a lot.

This piece, a GOP oppo dump, misses some major context and omits facts, according both to Nelson's office, a trusted colleague and a plain reading of the law, the Mortgage Forgiveness Tax Relief Act, which would not apply to developers but a person's "principal residence." But the Beacon suggests there's a quid-pro-quo at play, when really there's no evidence of that.

Also, the proposed Act is an extension of already existing law. So the contributor-developer, Francis Issa, would already have benefited from the already existing statute, not this extension. But again, this extension wouldn't benefit him anyway.

As for the deal Nelson allegedly got, it's not a shock that a one-time $1 million property sold for $717,800. Florida real estate is still horrible, and the condo market is even worse. Every buyer gets a legal/ethical steal nowadays who's a buyer. Indeed, another buyer got almost the same deal next door to Nelson but for "$725,000—$2 more per square foot than Nelson’s condo," the Beacon notes. It doesn't mention what Nelson's office says: That the added price was because that other condo was fully furnished; Nelson's wasn't.

Again, this is a conservative oppo dump that a colleague passed on due to the facts above and other errors (e.g., it's not really a "short sale")

[Last modified: Friday, June 8, 2012 1:33pm]

    

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