Metas
Naples Florida Real Estate News - 11/02/07
REAL ESTATE TAXES - Property tax battle, round 2: Members of Florida’s Taxation and Budget Reform Commission, which can put proposed constitutional amendments on the ballot, voiced frustration that businesses, snowbirds and first-time homebuyers receive little relief in the recently approved tax reform amendment.
MORTGAGE RATES - Rates on 30-year mortgages fell to the lowest level in five months – 6.26 percent – as evidence mounted that the economy is slowing down.
FORECLOSURES - The Bush administration assured Congress on Friday that it is aggressively working to deal with a rising tide of mortgage foreclosures. Officials, however, said homeowners threatened with foreclosure must also do their part and be proactive.
SELLING PRICES - Home sellers who list at a high price to “test” the market do themselves a disservice, according to research by a New Jersey appraiser – their homes spend more days on the market and eventually sell for less than similar homes priced realistically from the start. Most sellers would retort "I don’t want to give away my home." Sold comparable properties are one aspect of pricing a home properly to determine market value. Pending sales are another key aspect of pricing - these tell us what price a buyer and seller see as a price to negotiate and agree to transact. Finally, it is not only looking at comparables within a neighborhood or subdivision, but also looking at the macro view of the real estate market. Finally, looking at active properties to determine the list price.
Naples Florida Real Estate News - 11/01/07
REAL ESTATE TAXES - How much will your homebuyers save if the current property tax amendment passes in January? How much will non-homesteaded owners save? The formula is fairly simple compared to earlier versions of property tax reform, though longtime homeowners gain the most.
DOWNPAYMENT ASSISTANCE - Seller downpayment assistance programs may continue to operate, at least for now. A judge issued a temporary order yesterday halting a HUD rule that would have stopped the programs run by companies such as AmeriDream and the Nehemiah Corporation.
FORECLOSURES - A soaring number of U.S. homeowners struggled to make mortgage payments in the third quarter, according to RealtyTrac. In Florida, 86,465 foreclosures were filed on 60,992 properties, up 51.5 percent from the previous quarter – one filing for every 95 households. A key item to remember is that this statement covers the State of Florida, and local areas maybe significantly different, either, better or worse.
HURRICANE MITIGATION - To audit itself, the state’s My Safe Florida Home program randomly reinspected 3,000 homes to make sure the first inspector’s results matched those of a second inspector. The result: They didn’t.
COMMERCIAL REAL ESTATE - Federal regulators on Wednesday approved a rule that would ban exclusive agreements that cable television operators have with apartment buildings, opening up competition for other video providers.