HOMEOWNERS INSURANCE – Five homeowners insurance companies want to raise rates just weeks after the state ordered providers to lower premiums. The state has been asked to approve requests from Auto Owners (average of 41.9 percent), Cincinnati Insurance (37.5 percent), Florida Farm (30.3 percent), Hartford, (29.5 percent) and Metropolitan Property and Casualty (14.9 percent).

Personnally I don’t know of anyone that is using any of the above mentioned insurance companies to insure their Bonita Springs real estate holdings.

AFFORDABLE HOUSING TRUST FUNDS – Florida has affordable housing trust funds, but a bill introduced yesterday in the U.S. Congress would take it to the next level – creating a national affordable housing trust fund.

Using a national affordable housing trust fund may have a negative impact on the state’s affordable housing issues, especially in the Naples real estate market, due to the high cost of housing here, if national medians are used to determine housing cost and income guidelines.

CITIZENS PROPERTY INSURANCE – It’s big and getting bigger: Citizens Property Insurance, the state-run insurer, surpassed 1.3 million policies in May. It’s taking on new policies at an even faster pace this month with the biggest growth coming from outside Florida’s riskiest coastal areas.

Riskiest coastal areas does include the Naples, Bonita Springs and Estero Florida real estate markets.

MORTGAGE RATES – Rates on 30-year, fixed-rate mortgages averaged 6.67 percent this week, compared with 6.69 percent last week, in the second decline after five weeks of increases, according to Freddie Mac’s weekly nationwide survey.

INTEREST RATES – Feeling more optimistic about economic growth and lower inflation, the Federal Reserve on Thursday left the key federal funds interest rate unchanged at 5.25 percent, where it has stayed for the past year. Most analysts think the Fed will remain on hold for the rest of this year and well into 2008, giving a bit of stability to ARMs.

HOME INSPECTIONS – It’s official: Gov. Charlie Crist signed SB 2234, which creates a program to license home, mold and wind mitigation inspectors working in Florida. But don’t expect quick changes. The new law becomes effective July 1, 2010.

This is a law that many thought would not be signed by the governor.

I would still recommend any one buying a home in the

REAL ESTATE TAXES – Wait until voters have a chance to approve or reject the current real estate tax proposal, Allan Bense urged colleagues on the Taxation and Budget Reform Commission that met yesterday. If that proposal fails, the commission has the power to put another plan before voters as early as November 2008.

Lately, it is becoming evident that legislative persons are not willing to grab an issue and find a resolution. Legislative officials need to take a stand rather than just take a proposal to the people. Guess it is why they are politicians!

HOMEOWNERS INSURANCE – How do homeowners insurance rates compare in your county? Homeowners and buyers can now find comparison info on a state-run Web site, which creates a fictional house and then shows how much it would cost to insure, by company and county, based on rate filings submitted to the Florida Office of Insurance Regulation.

The web site is “Shop and Compare Rates” – www.ShopAndCompareRates.com

If you are thinking about buying Naples real estate, Bonita Springs real estate, or Estero real estate – you might want to bookmark the "Shop and Compare Rates" web site. I plan on bookmarking it myself.

FLORIDA CONSUMER CONFIDENCE – Consumer confidence in Florida rose one point to 83 in June, one month after dropping to its lowest level in 19 months, according to UF economists. Florida residents are more optimistic about future economic conditions, the latest survey finds.

NATIONAL DISASTER INSURANCE – Florida Senator Bill Nelson’s proposal to create a commission to study national disaster insurance seems to be in limbo. A frustrated Nelson says the idea of a commission is the “only viable option” to get the Senate to start dealing with the costs of homeowners insurance in Florida and other disaster-prone areas.

AFFORDABLE HOUSING – To help address the need for affordable housing for people of all income levels throughout the Sunshine State, the Wachovia Foundation is giving $500,000 to UF for a three-year research project. UF plans to create a software model that helps communities evaluate and rank areas identified as suitable for affordable housing.

Will be interesting to see how the Naples, Bonita Springs and Estero real estate markets can locate areas for affordable housing.

Not too much to report on today’s Naples real estate news, so it will a rather post.

FLORIDA HOMEOWNERS INSURANCE – Florida’s catastrophe fund is facing a decision: Spend money now so we have more insurance backing if a big one hits; or save money now by gambling that hurricane damage, if any, will be relatively minor. Currently, leaders are leaning toward the latter.

FLORIDA HOME INSPECTOR LICENSING – Gov. Charlie Crist recently received SB 2234 by Stephen Wise (R- Jacksonville) regarding state regulation of home inspectors, and has until the end of this week (June 30) to sign it. However, there’s reason to believe the governor may consider vetoing it since he’s already vetoed a bill that instituted higher standards for nail technicians (under DBPR/cosmetologists).

FLORIDA HOME SALES – Statewide sales of existing single-family homes in Florida totaled 12,607 in May, an amount more in line with activity in May 2002 – prior to the housing boom years – than May 2006 numbers. A total of 19,072 homes sold in May 2006 for a 34 percent decrease in the year-to-year comparison. The statewide median price was $237,000 last month.

FLORIDA REAL ESTATE TAXES – “Local government has shut down the No. 1 industry in the state of Florida, and the No. 1 industry isn’t tourism, it’s growth,” said Sen. Mike Bennett (R-Bradenton). Bennett said he approved the recent real estate tax reform measure, which does not go far enough, because there was no other bill on the floor.

FLORIDA HOMEOWNERS INSURANCE – According to Florida Insurance Commissioner Kevin McCarty, the homeowners insurance market has started to stabilize, major insurers don’t plan additional cutbacks and new insurers will take on new policies. But other experts don’t paint a picture quite so rosy.

NEW FLORIDA HOMES – A higher percentage of all homebuyers opt for new construction rather than an existing house, at least according to a report released in Central Florida. Builders with deep pockets and aggressive marketing campaigns pull out all the stops, making it more difficult for single homeowners to compete.  The same can be said for the Estero FL real estate, Bonita Springs FL real estate and Naples FL real estate markets.