Metas
Naples Real Estate News - 05/29/07
FLORIDA REAL ESTATEÂ TAXES
Gov. Crist vetoed items worth about $459 million in Florida’s budget Friday, including money that would have gone toward a new hurricane house, which researches building techniques that mitigate storm damage, and a separate study of windstorm losses. But a Democratic proposal to use that money to lower property taxes was rejected by House Speaker Marco Rubio.
CONDO HOTELS
Along with the condo market, the condo-hotel sector has slowed down, too. For example, South Florida’s recently developed St. Augustine condo-hotel failed to sell at auction, forcing its lender to buy the hotel in bankruptcy proceedings last week.
Frankly, I would not invest in a condo hotel without a full understanding of the rules and regulations.
SUBPRIME MORTGAGES (LIAR’S LOANS)
Originally meant for solidly self-employed homebuyers, stated-income loans – sometimes called ‘liar’s loans’ – are ones where borrowers list income and assets without having to prove anything. The number of stated-income loans rose rapidly during the housing boom and, some critics say, contributed to the current subprime mortgage fallout.
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