REAL ESTATE TAXES – Local government property taxes almost doubled from 2001-2006, which should have plumped up cities’ and counties’ spending reserves for a rainy day. Florida residents are tightening their budget belts and putting on their rain gear – local governments should be held accountable for their spending habits, too. Passage of Amendment 1 will give residents a much-needed tax break, put money back into their pockets and help spark the state’s economy. Take that to the bank!
Gov. Charlie Crist yesterday urged voters to approve Amendment 1, speaking from homes across the state. . .
as part of the “Yes on 1” campaign. “You know what that (amendment) will do to the real estate market in Florida? I tell you, it will ignite it,” Crist said.
HOMEOWNERS INSURANCE – Florida Insurance Commissioner Kevin McCarty wielded a big stick yesterday. Angered that Allstate Insurance failed to deliver documents demanded by a state subpoena, McCarty suspended the mega-insurer’s right to sign up any new clients in the state, including those seeking auto policies.
HOME BUILDERS – Upscale homebuilder WCI Communities Inc. renegotiated loan terms with two banks Wednesday, a crucial move that caused its stock price to rise and set aside speculation that the company was headed toward bankruptcy.
HOUSING STARTS – The prolonged slump in U.S. housing pushed construction of new homes in 2007 down by the largest amount in 27 years. For December alone, construction fell by a bigger-than-expected 14.2 percent.
RENT OR BUY? – Are you a potential homebuyer on the fence? Smart Money’s Web site allows you to calculate in dollars and cents whether it’s beneficial to rent or buy. An online worksheet estimates how much value will be found in either scenario. Even if it’s smarter for a person to rent now and buy later. Check it out at: http://www.smartmoney.com/home/buying/
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