Naples Real Estate News 07/08/08

July 9, 2008

HOUSING AID
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support on Monday, inching toward possible passage by the end of the week despite Republican objections. The bill’s centerpiece is a new $300 billion Federal Housing Administration program to allow struggling homeowners who are currently too financially risky [...]

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Naples Real Estate News 07/07/08

July 7, 2008

PERMANENT GENERATOR PERMITTED?
If you installed a “permanent generator” for you home or condo in Naples, Bonita Springs or Estero – was it properly permitted and installed to code?
If a home listing includes a “permanent generator,” it may not be installed to code. Building officials estimate tens of thousands of open permit cases exist in [...]

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Naples Real Estate News 07/03/08

July 6, 2008

MORTGAGE RATES
Rates on 30-year mortgages, which had been rising for five straight weeks, posted a decline this week to 6.35 percent as signals from the Federal Reserve eased worries about imminent interest rate increases.
MY SAFE FLORIDA HOME
Florida’s Chief Financial Officer announced today that the My Safe Florida Home program will end this weekend, when [...]

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Naples Real Estate News 07/02/08

July 3, 2008

REAL ESTATE TAXES
Every homesteaded property owner in Naples, Bonita Springs, Estero and elsewhere in Florida will pay less property tax this year than they would have paid if Amendment 1 had not passed in January and property values had not declined. However, owners of $420,000 and higher properties who have a lot of their property [...]

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Naples Real Estate News 07/01/08

July 2, 2008

COUNTRYWIDE
Florida Attorney General Bill McCollum filed a lawsuit against Countrywide Financial Corp. Monday for misleading and unfair trade practices. “It is unthinkable a company would try to take advantage of someone’s dream of homeownership,” says McCollum. Meanwhile, Bank of America’s purchase of Countrywide Financial Corp. is expected to become official today.
Listen to the report.
WORKFORCE HOUSING
Florida [...]

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Naples Real Estate News 06/30/08

July 1, 2008

MORTGAGE RATES
If it isn’t one thing, it’s another. Historically low mortgage rates have been one of the few strengths in today’s housing market, but inflation fears may be nudging rates higher.
FLOOD INSURANCE
Congress plans to address insurance regulatory issues in July before departing on an extended summer vacation, and industry officials are hopeful that lawmakers will [...]

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Naples Real Estate News 06/27/08

June 28, 2008

MORTGAGE RATES
Rates on 30-year mortgages rose again this week – to 6.45 percent – climbing to the highest level in more than nine months, reflecting concerns about how the Federal Reserve will respond to higher inflation pressures.
HOMESTEAD EXEMPTION
As county budgets shrink, officials are becoming more aggressive seeking out owners who lie about their living status [...]

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Naples Real Estate News 06/26/08

June 27, 2008

HOME SALES
A total of 12,175 existing single-family homes sold in May, up 8.7 percent over the previous month when 11,200 homes changed hands statewide, according to FAR. Existing condo sales statewide rose 3 percent, with a total of 4,018 units sold in May compared with 3,900 condos in April.
In Naples during the month of May [...]

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Naples Real Estate News 06/25/08

June 26, 2008

MORTGAGES
No downpayment mortgages have largely disappeared as a financing option from private lenders. But they are still available – and growing more popular – using existing Federal Housing Administration programs in conjunction with nonprofit groups’ downpayment assistance programs – Nehemiah Corporation and AmeriDream.
FLORIDA CONSUMER CONFIDENCE
Higher gas and food prices, continued declines in housing prices and [...]

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Naples Real Estate News 06/24/08

June 25, 2008

HURRICANE MITIGATION
Naples, Bonita Springs, and Estero homeowners take note: If you want a free hurricane home inspection courtesy of the State of Florida, sign up now. Most homeowners save money on property insurance following an inspection, but the program will achieve its goals and probably stop taking new applications later this summer.
REAL ESTATE TAXES
The Amendment [...]

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