REAL ESTATE TAXES – The tax swap may be back. A panel of the Florida’s Taxation and Budget Reform Commission, a group with the power to put an amendment directly on the November 2008 ballot, is considering a plan to reduce homestead property taxes and cap non-homestead property taxes with a temporary increase in the sales tax.

HOMEOWNERS INSURANCE – The news from the insurance industry isn’t good: Florida still is the most catastrophe-prone state because of its exposure to hurricanes, says Bob Hartwig, chief economist for the Insurance Information Institute. Translation? Homeowners’ insurance rates in Florida are likely to go higher even though an uneventful 2007 hurricane season ends today.

MORTGAGE INTEREST RATES – Mortgage rates fell sharply this week with 30-year mortgages dropping to an average of 6.10 percent – the lowest level in more than two years, according to Freddie Mac’s weekly nationwide survey.

ECONOMY – Noting the strains of a housing slump and credit crunch, the White House lowered its projection for economic growth next year. The new forecast calls for the gross domestic product to grow by 2.7 percent in 2008 instead of the previous 3.1 percent increase.

FORECLOSURES – A United States bankruptcy court is figuring out what to do with the assets and debts of Levitt and Sons, and decisions could create opportunities for developers and homebuyers, even as past customers wrestle with unpaid subcontractors and the possible loss of deposits.

REAL ESTATE INVESTING – The subprime mortgage problem has hit home for many local governments in Florida. State cities, counties and agencies have pulled billions of dollars out of a state-run investment fund that is backed by subprime mortgages.

ECONOMY – The Federal Reserve’s latest economic snapshot released yesterday finds that the housing slump and credit crunch has made consumers more cautious. But the Fed also suggested that it would again lower interest rates at its Dec. 11 meeting, sending stock prices higher.

FLORIDA FORECLOSURES – United States foreclosure filings nearly doubled in October from the same month last year, according to RealtyTrac. Florida ranked third among the states with one foreclosure filing for every 273 households – an amount down more than 9 percent from September but up nearly 165 percent compared to October 2006.

NEW HOME SALES – October new home sales released by the Census Bureau and Housing and Urban Development today were up – 1.7 percent higher than September sales; however, new home sales were down 23.5 percent compared to activity in October 2006.

HOME PRICES – According to the United States Office of Federal Housing Enterprise Oversight, home prices posted a year-over-year increase of 1.8 percent in the third quarter with Florida prices declining slightly. But only one other state had higher price appreciation over the past five years, with Florida housing prices up 96.23 percent.

HOME SALES – Disruptions in the mortgage market and tightening credit continued to impact Florida’s housing sector in October, with statewide sales of existing single-family homes totaling 9,165, a decrease of 29 percent from the October 2006 figure. The statewide existing-home median price last month was $222,100.

MORTGAGES – After avoiding major trouble most of the year, Wells Fargo & Co. has finally bogged down in the mortgage muck that’s muddying one major bank after another – but it’s still in better shape than many of its peers.

FLORIDA CONSUMER CONFIDENCE – Florida’s consumer confidence dropped two points to 77 in November, a new University of Florida study finds.

ECONOMY – Florida tourism rebounded strongly during the heart of hurricane season, helping to boost the state’s economy, according to new figures from Visit Florida. More than 21 million people visited the Sunshine State from July 1 to Sept. 30 – a 4.8 percent increase over a year ago.

HOMETOWN DEMOCRACY – A new law that allows voters to revoke their signatures on petitions for constitutional amendments survived an initial court challenge Tuesday. The ruling raises the bar for advocates of Hometown Democracy, which if passed, would require voter approval for comprehensive development plan changes. An appeal is expected.

HOW’S FLORIDA DOING? Gov. Charlie Crist promised to make Florida government more accessible to the public, and a new Web site seems to do just that. Florida Performs compiles data from a variety of sources and provides a synopsis of Florida’s current state of affairs. And it appears to be balanced, citing the bad news as well as the good. Under health it notes that the state ranks 47th out of 50 for access to services; and under housing, it calls the current situation “worsening” in a sector that is “a key indicator of the state’s economy as a whole.” The site explains the importance of each issue and what, if anything, state government can do about it. Have an opinion? Visitors also can e-mail the governor and tell him what they think. To see Florida Performs, go to: http://www.floridaperforms.com

HOMEOWNERS INSURANCE- More than 13,000 homeowners have used the state’smediation program to deal with disputed property insurance claims and 400 to 500new claims come in each month. State officials now say they’ll consider ways tomake the system more efficient.

ECONOMY – Everything will be okay: Rising foreclosures will lead to billions of dollars in lost economic activity next year in major U.S. cities, but homeowners and financial institutions have the ability to contain the effects, according to a report released today.

The report suggests that homeowners, banks, holders of mortgage-backed securities and loan servicers can work together to ease the economic effects. Agreeing to new payment terms on some loans, for example, could make the difference between a family keeping a home and losing it in foreclosure.

CONSUMER CONFIDENCE – American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence 8 points lower to its weakest level in two years.

RELOCATION – According to the Employee Relocation Council, employee relocation costs rose to $62,000 this year, with $15,000 of that amount a loss from the sale of a home. As a result, many employers now offer greater relocation help.

INTERNATIONAL – A housing-market meltdown may be wracking the U.S. economy and shaking the financial markets, but in Asia, the question is how to cool things down.

REAL ESTATE TAXES – Continuing to bash a property-tax plan he reluctantly voted for, House Speaker Marco Rubio is now urging supporters to back a citizens’ petition to cap the total amount of taxes paid by every property owner to 1.35 percent of the property’s value.

ECONOMY – Some 2 million homeowners hold $600 billion of sub-prime adjustable rate mortgages due to reset at higher amounts during the next eight months, and experts offer a range of forecasts on how that will affect the U.S. economy.

1031 EXCHANGES- Want to know more about 1031 exchanges? Using theselike-kind exchanges instead of selling the property outright will almostcertainly save you big bucks in taxes, according to an expert in 1031exchanges.