Naples Florida Real Estate News - 09/14/07
Is there relief for people hoping to buy or refi with a fixed rate mortgage? More mortgage company layoffs - is it good or bad? Can we blame Alan Greenspan for the subprime mortgage troubles? Report on real estate taxes amendment to be voted on in January is out - to keep or not to keep your Save Our Homes Amendment?
MORTGAGES:
RATES - Rates on 30-year mortgages dropped this week to the lowest point in four months – an average of 6.31 percent for fixed rate mortgages – providing some relief for people hoping to refinance or buy a new home.
LAYOFFS - More mortgage companies have announced layoffs in September, but there are a few signs of hope. Many bigger mortgage companies have stabilized their financial positions as some weaker and riskier players go under, which should eventually make the industry leaner yet stronger.
SUBPRIMES - Did bad federal policies lead to the current mortgage crisis? In an upcoming interview, former Federal Reserve Chairman Alan Greenspan says he knew about subprime mortgage troubles early on, but failed to see the danger until late 2005 and 2006.
REAL ESTATE TAXES - The analysis is in, and it’s ponderous. A comprehensive study of Florida property tax laws – ordered by the Florida Legislature and conducted by a team of economists from the University of Florida and Florida State University – was released yesterday. Issued in three parts, the entire study has 689 pages and sometimes-challenging text. But it does study the state’s property tax problems from all angles. For example, the study finds that only 9.2 percent of Florida households would be better off keeping their Save Our Homes exemption if the proposed property tax amendment passes in January – but the authors also note that far more would opt to keep SOH under that scenario.
Comments
Got something to say?