Florida Real Estate News - 03/15/07

March 16, 2007 Posted in Real Estate News 

MORTGAGES
HUD is preparing to punish some subprime mortgage lenders under investigation for discriminatory practices it announced yesterday. HUD also suggested that the largest mortgage companies, Fannie Mae and Freddie Mac, should consider giving strapped homeowners more time to make their payments.

NATIONAL REAL ESTATE FORECAST
The real estate market faces unique conditions right now, such as the subprime mortgage market problem and unusual weather. Consequently, the National Association of Realtors (NAR) predicts that things will likely get better this year but hesitates to say exactly when that turnaround will occur.

REMODELING
The market slowdown hasn’t curbed consumers’ desire for upscale kitchens and baths. Upper-end appliances are becoming more popular, even for homes that aren’t at the upper end of a price range, says American Institute of Architects Chief Economist Kermit Baker.

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