FANNIE AND FREDDIE
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in “no danger of failing.” However, he says that “weakness of market confidence” is hurting the companies.
STATE FARM
State Farm, Florida’s largest private property insurer, asked the state for an average rate increase of 47.1 percent on homeowner policies, saying it needs the money to pay claims if major storms strike. The planned increase tests lawmakers’ efforts to curb property insurance prices that doubled or tripled in some cases after hurricanes hit in 2004 and 2005.
AMENDMENT 5
If Florida voters pass Amendment 5 in November, property taxes will drop by 25 to 40 percent, but the amendment must first face a court challenge. A Tallahassee judge will hear arguments on August 13.
{ 1 comment }
Wow, this is a great blog. I’ve been looking for a long time to find a site that does a good job tracking the Naples real estate market. I especially appreciate the “number of months” of Naples home inventory reports that your site is providing. I’m considering selling at some point and I appreciate realtors that focus on both inventory and pricing levels. The other thing that is going to help take out some of that inventory is Florida home insurance coming down somewhat in price. We have to be careful though that State Farm Florida is not successful with this ridiculous, massive increase that they are pursuing.
I wanted to let you and your blog readers know about a website that I used to find another Florida homeowners insurance company in Naples when I was dropped by State Farm Florida:
homeinsurancebuyers.org
I’m not the only one in Collier County who had success using this site after having my insurance in Naples Florida cancelled.
Let’s home State Farm Florida doen’t get that massive increase and please keep up the great work on this blog.
Thank you
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