Naples Florida Real Estate News - 08/20/07
Today’s Naples Florida real estate news covers homeowners insurance company requests being withdrawal, Countrywide more stable than first suggested, simple explanation of short sales, and how to attract potential buyers and catch their eye.
HOMEOWNERS INSURANCE - The Florida Office of Insurance Regulation said Friday that two insurance companies withdrew their requests to raise rates for residential policies by 49.1 percent. In a separate announcement, a state-created hurricane model was adjusted, but insurers question the reason for the change.
LENDERS - Countrywide’s recent financial stumble sent shivers through financial markets, but several analysts say the company could survive even a bad credit crisis because deposits in Countrywide’s bank give it stability that’s lacking in other stand-alone mortgage lenders.
SHORT HOME SALES - In a short sale, a property owner who owes more on a property than it’s worth deeds it back to the lender. The owner avoids the cost of foreclosure, while the lender loses money on the price by forgiving the difference between loan and sales price but saves on the carrying costs and some legal bills.
HOMESELLING - Want to help your sellers catch the eye of potential buyers? Have them consider an investment in their yard, maybe by adding flowers, trees or shrubbery. A nicely landscaped property can boost the selling price by about 7 percent, according to researchers.
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