REAL ESTATE TAXES – Will the Legislature’s latest tax fix juice up Florida’s real estate market? Many say the tax-relief package, if approved by voters in January, should help convince buyers to make a commitment – but no one can say how many will take the plunge.

HOMEOWNERS INSURANCE – Florida officials approved another surcharge that will be tacked onto all property insurance policies. The 2 percent increase will pay for losses attributed to the bankruptcy of Poe insurance companies and will start appearing on March bills. It’s the third surcharge approved in the last 15 months and the first one that also applies to customers of the state-created Citizens Property Insurance Corp.

FLORIDA CONSUMER CONFIDENCE – A weak housing market doesn’t deter Floridians. Consumer confidence in the state rose three points in October, with much of the increase attributed to low-income households.

INTEREST RATES – The Federal Reserve, confronted with surging oil prices and a slumping housing market, cut a key interest rate by a quarter-point, the second rate reduction this year. The move should lower adjustable rate mortgage rates, though it does not always impact fixed rate mortgages.

FLORIDA REAL ESTATE TAXES - It’s voters’ turn: The Florida Legislature passed real estate tax reform and a proposed amendment will appear on the January ballot. The amendment offers moderate relief for homeowners and slight relief for commercial property but does not go as far as an earlier House proposal; and tax portability, as proposed, could face a constitutional challenge in the courts.

REAL ESTATE SETTLEMENT PROCEDURES ACT - Housing and Urban Development announced settlements with six major U.S. homebuilders over RESPA violations. According to HUD, complex business arrangements shielded payments for referrals.
• $466,000 settlement with Pulte Homes Inc., and its captive title reinsurance company Marquette Title Insurance Co.
• $456,000 settlement with KB Home and its captive title reinsurance company Westview Co.
• $261,000 settlement with Beazer Homes USA Inc. and its captive title reinsurance company Security Title Insurance Co.
• $66,000 settlement with Meritage Homes Corp., Meritage Homes of California Inc., Meritage Homes of Nevada Inc., Meritage Homes of Arizona Inc., and their captive title reinsurance company Meritage Paseo Crossing LLC
• $84,000 settlement with The Ryland Group Inc. and its captive title reinsurance company Cornerstone Title Insurance Co.
• $52,000 settlement with Technical Olympic USA Inc. (TOUSA Homes) and its captive title reinsurance company Universal Land Title Inc.

CITIZENS PROPERTY INSURANCE – The state Office of Insurance Regulation has given four Florida-based companies the OK to take 173,000 homeowner insurance policies out of Citizens Property Insurance Corp, now the state’s largest home insurer. Thousands of homeowners – most in South Florida – will start receiving notices of the offers Nov. 7.

HURRICANE MITIGATION – The My Safe Florida Home program announced it is increasing standards for its wind inspection firms. Since April 2007, the program has performed over 111,200 free wind inspections and approved more than 13,500 homeowners for matching grants to help harden their homes.

FLORIDA REAL ESTATE TAXES - At mid-afternoon, the Florida House was still deliberating over a leaner real estate tax reform package passed out today by the Senate. The proposal would increase the homestead exemption for properties worth at least $75,000 – except for school taxes; would provide a 10 percent cap for non-homestead properties, except for school taxes; and includes a ”portability” provision allowing homesteaders to take at least part of the benefits they get from the existing Save Our Homes assessment cap with them they move. Lawmakers have until 11:59 p.m. to pass some sort of real estate tax relief measure if it’s to go before voters on the Jan. 29 ballot.

LUXURY HOMES AND CONDOS – Florida homes and condos with price tags of $1 million or more are still changing hands at roughly the same price, albeit not as briskly as they did a year ago, according to recent real estate data. Wealthy foreign buyers have helped buoy the Florida market’s upper end, analysts note, adding that the state continues to appeal to wealthy retirees and to second-home buyers, particularly from the Northeastern U.S.

ECONOMY Will the Federal Reserve cut interest rates again? After sifting through mixed corporate profit reports and uneven readings on the economy, Wall Street will find out the answer when the Fed meets Tuesday and Wednesday. Most investors expect policymakers will decide tight credit is the bigger risk to the economy and lower rates.

PROPERTY TAXES – If the Legislature’s fussing and fighting over a way to trim property taxes isn’t confusing enough, here’s one more potential complication. There is a remote possibility that legislators’ earlier tax reduction proposal – the “super” homestead exemption – could appear on the same ballot for voters to consider in January.

MORTGAGE - Rates on 30-year mortgages this week fell to 6.33 percent, the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will boost the sluggish economy by cutting interest rates further, according to Freddie Mac’s weekly nationwide survey.

Bank of America plans to exit the wholesale mortgage business and eliminate about 700 jobs. Bank officials said Thursday that the nation’s second-largest bank will stop offering home mortgages through brokers at the end of the year to focus on direct-to-consumer lending through its banking centers and loan officers.