Naples Real Estate News 06/24/08
HURRICANE MITIGATION
Naples, Bonita Springs, and Estero homeowners take note: If you want a free hurricane home inspection courtesy of the State of Florida, sign up now. Most homeowners save money on property insurance following an inspection, but the program will achieve its goals and probably stop taking new applications later this summer.
REAL ESTATE TAXES
The Amendment 5 real estate tax reform that voters will consider in November, the opposition officially kicked off its campaign yesterday. John Sebree, notes that the opposition group’s anti-amendment campaign has not offered any alternative solutions to Florida’s current property tax crisis. “Is any property tax relief good to them?” he asks.
The opposition is coming from businesses in the health care industry, agriculture, as well as, public schools.
ENVIRONMENT
The nation’s largest producer of cane sugar is set to go out of business in a $1.7 billion deal to sell its land to the state of Florida for Everglades restoration, Govenor Crist announced this morning.
CONSUMER CONFIDENCE
The Conference Board Consumer Confidence Index declined again in June to 50.4. Lynn Franco, director of The Conference Board Consumer Research Center, noted that consumers’ assessment of present-day conditions “suggests the economy remains stuck in low gear.”
REAL ESTATE ECONOMY
According to the latest housing report from Harvard University’s Joint Center for Housing Studies, the picture isn’t pretty. “We’ve never had so much information or data in uncharted water,” says Eric Belsky, the Joint Center’s executive director, who does not predict a quick recovery. However, the report expects immigration growth to be a key factor in rejuvenating the housing market.
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