Naples Real Estate News 06/16/08
REAL ESTATE FORECAST
National Association of REALTORS® Chief Economist Lawrence Yun, speaking to Florida real estate professionals last week, called 2008 a "year of cleanup." Yun predicts that the second half of the year will be better than the first, due to improving mortgage markets, foreign investors and Baby Boomers.
PROPERTY MANAGEMENT
A Florida landlord can now charge liquidated damages or an early termination fee under a bill signed last week by Governor Charlie Crist, even if the property is re-rented immediately. The bill is similar to one Crist vetoed last year.
FHA MORTGAGES
For one year, Federal Housing Administration will insure vacant foreclosed properties marketed and sold by property disposition firms on behalf of lenders. The properties, which must purchased by owner-occupants, will no longer be subject to the customary 90-day waiting period.
HOME SELLERS
Too many sellers in Florida and elsewhere aren’t setting the right price for their home, asking for too much money and ignoring the both the closed sales, pending sales and list prices of nearby homes, not to mention their real estate agents’ advice.
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