January 2007 - Posts
FORT LAUDERDALE, Fla. – Jan. 26, 2007 – To a financially strapped homeowner terrified by the prospect of foreclosure, it sounds like an escape plan: temporarily transfer title of the property to a foreclosure rescue firm, which pays the mortgage
Read More...
NEW YORK – Jan. 26, 2007 – Amid a continuing glut of homes for sale in most of the country, buyers should have plenty of choices and lots of bargaining power in the spring selling season – typically the busiest time of the year.
Read More...
WASHINGTON – Jan. 26, 2007 – The National Association of Home Builders’ (NAHB) Multifamily Stock Index (MFSI) dipped again in December as the index continues to fall back from the record highs set throughout most of 2006. The December
Read More...
WASHINGTON – Jan. 26, 2007 – Sales of new one-family houses in December 2006 were at a seasonally adjusted annual rate of 1,120,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and
Read More...
WASHINGTON – Jan. 26, 2007 – Rates on 30-year mortgages edged up to the highest level since early November as the economy continued to show surprising signs of strength. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate
Read More...
DALLAS – Jan. 24, 2007 – Fresh reports from two large builders added to signs that the housing market is still sinking, but home-building stocks rose as D.R. Horton Inc. beat Wall Street’s grim expectations. Horton, the nation’s
Read More...
WASHINGTON – Jan. 24, 2007 – Global real estate investors say their U.S. real estate investment strategies for 2007 and beyond will include properties traditionally considered to have higher risk according to the results of the 15th Annual
Read More...
NEW YORK – Jan. 24, 2007 – Expect to see foreclosures on subprime or nontraditional loans – mortgages made to consumers with impaired credit – to accelerate, according to the Center for Responsible Lending (CNL) ( http://www.responsiblelending.org
Read More...
TALLAHASSEE, Fla. (AP) – Jan. 24, 2007 – A one-time Florida Supreme Court justice and a former senator came down on opposite sides of a debate Tuesday over whether voters should be allowed to adopt laws by citizen initiative as they now can
Read More...
TALLAHASSEE, Fla. – Jan. 24, 2007 – As state lawmakers debated and cheered the property insurance savings they are bringing to their districts, insurance lobbyists sounded alarms Monday about the cost to their industry and ultimately to consumers.
Read More...
WASHINGTON – Jan. 23, 2007 – At 64, and looking toward his retirement next year, Willie Lee Howard agreed to refinance his duplex in Northeast Washington, thinking that a fixed-rate loan would help stabilize his finances. What Howard got instead
Read More...
WASHINGTON – Jan. 23, 2007 – The U.S. Department of Housing and Urban Development (HUD) announced that it published guidance in the Federal Register yesterday to help housing providers ensure that people with Limited English Proficiency (LEP)
Read More...
WASHINGTON – Jan. 23, 2007 – What new marketing trends are in store for the year ahead? Futurist Faith Popcorn has predictions for everything from personalized branding to housing styles that meet the needs of baby boomers and Gen Y. Here’s
Read More...
WEST PALM BEACH, Fla. – Jan. 23, 2007 – Democratic freshmen congressmen Ron Klein and Tim Mahoney held a joint news conference Saturday to discuss the Democrats’ “First 100 Hours of Legislation” and their roles as leaders
Read More...
TALLAHASSEE, Fla. – Jan. 23, 2006 – Charged with the daunting task of reducing homeowners insurance premiums for millions of Florida property owners, the Florida Legislature last night passed a 167-page bill that could lower premiums between
Read More...
WASHINGTON – Jan. 22, 2007 – No longer as much of a bargain as they were before the Federal Reserve raised short-term rates, adjustable mortgages lost some of their share of the residential market in 2006. At the end of December, the market
Read More...
TALLAHASSEE, Fla. (AP) – Jan. 22, 2007 – Florida’s state-created insurer of last resort will pay almost $1 million to settle a lawsuit that alleged a former executive took bribes to steer business to adjusters. Citizens Property Insurance
Read More...
MIAMI BEACH, Fla. – Jan. 22, 2007 – Does a proposed Miami Beach ordinance mean that code enforcers can bust your backyard barbecue if guests bring beef and beer worth more than $100? Or does it mean that promoters can’t stage Internet-advertised
Read More...
TALLAHASSEE, Fla. – Jan. 22, 2007 – Vanguard Fire & Casualty Company, a property insurer for about 75,000 homeowners in Florida, was ordered into receivership by a Leon County judge and will be overseen by the Florida Department of Financial
Read More...
TALLAHASSEE – Jan. 22, 2007 – Lawmakers turned their attention to Citizens Property Insurance Corp. on Sunday, wringing some additional rate relief for customers in the state pool after reaching a broader agreement over the weekend to roll
Read More...
ORLANDO, Fla. – Jan. 19, 2007 – The Home Builders Association of Metro Orlando kicked off a marketing campaign this week to encourage “fence sitters” that now really is a good time to buy a home in the Orlando area. Valued at nearly
Read More...
WASHINGTON – Jan. 19, 2007 – Rates on 30-year mortgages rose this week to the highest level in nine weeks as financial markets reacted to a series of more upbeat financial reports. Mortgage giant Freddie Mac reported Thursday that 30-year,
Read More...
ORLANDO, Fla. (AP) – Jan. 19, 2007 – CNL Hotels & Resorts Inc., the nation’s second-largest hotel real estate investment trust (REIT), said Friday it agreed to a takeover offer from Morgan Stanley Real Estate valued at about $3.13
Read More...
TALLAHASSEE – Jan. 19, 2007 – Lawmakers had promised quick and significant relief to the property insurance crisis, and while proposals in the state Capitol would lighten ratepayers’ burdens, it will likely take months to realize the
Read More...
Unless you’re a champion saver, affording a home on a single teacher’s, police officer’s or nurse’s salary is getting near impossible in the Tampa Bay area. Thanks to frantic housing appreciation the past 5 years, you’d have
Read More...
SANFORD -- The timing couldn't have been better. A well-heeled developer proposed upscale condominiums that promised to ride a red-hot housing market and bring high-end living along the shores of Lake Monroe. Giddy city officials bent over backward
Read More...
Attractive entrances can draw buyers BY ANNE STRAUB FOR FLORIDA TODAY When owners want to sell their home, they pay particular attention to its appearance from the street, or what's known as "curb appeal." A home with attractive landscaping
Read More...
TAMPA, Fla. – Jan. 15, 2007 – A new computer model that has contributed to large spikes in property insurance rates in coastal areas should have had full review by outside experts before it was released, the ethics chief of the world’s
Read More...
TALLAHASSEE, Fla. – Jan. 15, 2007 – On the eve of a special session on the property insurance crisis, the Florida Chamber of Commerce has gotten a flood of colorful replies from business owners to its e-mailed survey about property insurance
Read More...
NEW YORK – Jan. 15, 2007 – Last year wasn’t exactly a great year for Florida real estate – existing single-family homes sales were down 30 percent in November compared to the previous year and prices fell 3 percent in that time
Read More...
TALLAHASSEE, Fla. – Jan. 15, 2007 – Florida’s insurance crisis takes center stage in Tallahassee starting Tuesday, when legislators convene for a special session devoted solely to the state’s property insurance mess and how to
Read More...
WASHINGTON – Jan. 12, 2007 – Mortgage insurance is now deductible on federal income taxes but accompanied by so many restrictions that only a handful of Americans benefit. President Bush signed a multi-faceted tax bill (H.R. 6111) that includes,
Read More...
TALLAHASSEE, Fla. – Jan. 12, 2006 – Thursday was a busy day in the insurance reform arena in Tallahassee. Gov. Charlie Crist applauded legislative leaders for the commitment they’re making this and next week to “providing immediate
Read More...
Mortgage Rate Trend Index Mortgage rates may continue to rise over the next 30 to 45 days, according to 40 percent of the mortgage experts polled by Bankrate.com this week. But an equal number, 40 percent, foresee no change while 20 percent predict a
Read More...
ORLANDO, Fla. – Jan. 12, 2007 – Several local Realtor® organizations are building promotional campaigns to increase public awareness of homebuying opportunities in their respective local markets and to explain that current market conditions
Read More...
TALLAHASSEE, Fla. (AP) – Jan. 12, 2007 – Lawmakers could put a property tax relief measure before voters as early as this fall, Senate Finance and Taxation Committee Chairman Mike Haridopolos said Thursday. Legislators have been flooded with
Read More...
Pasco County lawmakers' proposal to make sinkhole coverage optional and lower insurance rates has been left out of the Florida Senate's first stab at insurance reform. Instead, the draft bill in the Senate insurance committee includes changes
Read More...
MIAMI – Jan. 10, 2007 – Residents of some South Florida cities may be eligible for discounts on flood insurance, thanks to municipal drainage-improvement programs. Insurance companies are supposed to offer the discount automatically, but residents
Read More...
DALLAS – Jan. 10, 2007 – D.R. Horton Inc., one of the nation’s largest homebuilders, said Tuesday its late-2006 sales orders fell 28 percent, dampening sentiment that the housing sector may be recovering from a slump. The news was even
Read More...
NORTH PALM BEACH, Fla. – Jan. 10, 2007 – Because everyone's situation is unique, it's impossible to give general guidelines for mortgage strategies in 2007, but maybe some answers will help you in deciding your next mortgage move.
Read More...
HOLLYWOOD, Fla. – Jan. 10, 2007 – Hollywood officials are poised to test Florida law and once again try to use the city’s power to force the sale of private property to clean up a blighted area. On Jan. 17, commissioners are expected
Read More...
MIAMI (AP) – Jan. 3, 2007 – Lennar Corp., one of the nation’s largest homebuilders, said Tuesday it expected a fourth-quarter loss as the company reevaluates how much its inventory is worth amid a slowing industry. The Miami-based company
Read More...
WASHINGTON – Jan. 3, 2007 – Reduced federal funding has left states and cities scrambling for ways to fund infrastructure improvements – from deteriorating bridges and highways to the growing demand for mass transit – necessary
Read More...
NEW YORK – Jan. 3, 2007 – The bull market in commercial real estate made 2006 a record year, and many believe 2007 will be just as good. “There’s just a lot of cash in the system chasing assets that throw off a yield,” says
Read More...
NEW YORK – Jan. 3, 2007 – Boosting the value of your home is never an easy task. It takes time, money, and – when your kitchen’s covered in plastic tarp – weeks of pizza delivery. And with home prices still sliding in many
Read More...
TALLAHASSEE, Fla. – Jan. 3, 2007 – Charlie Crist formally claimed the mantle of the “people’s governor” Tuesday, promising in his inaugural address a state government less partisan, more open and more accountable to those
Read More...