Real Estate News 04/30/08

April 30, 2008

FEDS CUT INTEREST RATE
This afternoon the Federal Reserve cut the Fed Funds rate a quarter of one percent from 2.25% to 2.0%. The prime rate should follow with a drop of one-quarter percent from 5.25% to 5.0%. The rate cut will not affect fixed rate mortgages, however, those borrowers with home equity loans, a home [...]

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Real Estate News 04/29/08

April 30, 2008

FORECLOSURES
The number of homes in some stage of the foreclosure process rose again in the first quarter, according to RealtyTrac. And while Florida had a number of cities near the top of the list, California and Nevada landed the top spots. Stockton, Calif., ranked Number 1, with one out of every 30 homeowners in [...]

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Real Estate News 04/28/08

April 28, 2008

COUNTRYWIDE
Consumer advocates claim Countrywide has not been responsive enough to homeowners struggling to make mortgage payments, and that Bank of America needs to do more when it takes over the troubled lender. The Fed is currently investigating the allegation, as it must do under the law, to make sure consumers wouldn’t be harmed by [...]

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Real Estate News 04/25/08

April 26, 2008

REAL ESTATE TAX AMENDMENT
Florida’s Taxation and Budget Reform Commission voted yesterday in favor of a constitutional amendment to decrease property taxes in exchange for higher sales taxes, providing it’s approved by 60 percent of voters in November.
FORECLOSURES
The Bush administration "strongly opposes" Democrats’ housing rescue package, an official announced yesterday, calling it a bailout [...]

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Naples Condo Market Conditions March 08

April 25, 2008

Market conditions and trends are important for both condominium buyers and sellers in determining their actions in the Naples real estate market, as well as, cyclical variations. The market conditions for Naples condominiums cover both the month of March 2008 and the first calendar quarter of 2008, ending March 31, 2008. The monthly analysis reflects [...]

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Naples Home Market Conditions March 2008

April 25, 2008

The market conditions for Naples covers both the month of March 2008 and the first calendar quarter of 2008, ending March 31, 2008. A monthly analysis reflects activity during a month with comparative data for the previous years of 2007 and 2006. The quarterly analysis covers a longer period of time, therefore, giving a more [...]

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Real Estate News 04/24/08

April 24, 2008

REAL ESTATE TAXES
The Florida House passed a stringent tax-cut package along party lines, but faces long odds in getting the Senate to agree to cuts that would dig into local government and school budgets.
NEW HOME SALES
New home sales were down again in March by 8.5 percent, with the median price 13.3 percent lower [...]

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Real Estate News 04/23/08

April 24, 2008

HOMEOWNERS INSURANCE
It’s a do-over: Allstate Corp. is preparing for both favorable and unfavorable rulings on its ability to conduct new business in Florida after an appeals court erroneously released a decision late Monday that could have meant trouble for the insurer. The real ruling is expected Tuesday.
SUBPRIME MORTGAGES
Efforts to help struggling borrowers are [...]

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Real Estate News 04/22/08

April 22, 2008

HOME SALES
Florida Association of Realtors statewide reported slight gains in existing home and condominium sales from February to March 2008, according to Florida Association of Realtor’s latest housing statistics. A total of 9,142 existing single-family homes changed hands in March, a 10 percent increase over the previous month. Statewide existing condo sales totaled 3,145 in [...]

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Real Estate News 04/21/08

April 22, 2008

HOMEOWNERS INSURANCE
Headed into the final two weeks of the legislative session, several property insurance bills winding through the state House and Senate are like hurricanes – they’re moving slowly, gaining speed and could hit homeowners hard.
FEDERAL REGULATION
Many conservatives now think the government needs to get more involved in regulating the financial aspects of [...]

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