REAL ESTATE TAXES – If real estate taxes drop 25 percent through an amendment appearing on the November ballot, schools would need at least $8 billion from an alternate source. That raises the possibility, once again, of a sales tax on services, which could be levied on everything from lawn mowing to accounting.

HOMEOWNERS INSURANCE – Florida’s budget crisis has taken center stage this legislative session, but at least some issues surrounding property insurance should get a hearing. Different proposals have been suggested, but most follow the same philosophy: Get tougher on insurers. If you have a homeowners insurance policy on your Naples, Bonita Springs, or Estero residence, be sure to shop around for the best coverage and premiums – you might be surprised to find out the savings on your annual premium.

MORTGAGES – The government injected an additional $200 billion of financing for home loans today by relaxing capital requirements at Fannie Mae and Freddie Mac. The freed-up money will go toward buying mortgages of struggling homeowners.

ECONOMY – Wall Street storms higher after a three-quarter-point rate cut from the Fed and stronger-than-expected investment bank profits. However, the Commerce Department said home construction fell in February: housing starts fell 0.6 percent, while building permits were down 7.8 percent.

HOME VALUES – The real estate mantra of "location, location, location" rings particularly true in a slow market. Buyers should do their research, because choosing the right neighborhood could have a big effect on whether or not their home turns out to be a winning investment. Key item to look for is the number of possible short sale, pre-foreclosures and foreclosed properties on the market within a neighborhood or complex. Sellers, if possible, should consider not listing their property as the previous mentioned types of properties, could cause their property’s value to be artificially lowered. Rumor has it that lenders are requesting appraiser not to use "distressed" properties as comparables when completing an appraisal and allowing properties further away from the subject property to be used. Guess it is time to review where "distressed" properties are located in Naples, Bonita Springs and Estero areas.

REAL ESTATE TAXES – Florida’s Taxation and Budget Reform Commission, which has the ability to put constitutional amendments directly on the November ballot, will discuss and vote on three property tax plans today in Tallahassee. Each of the plans would reduce property taxes by at least a third for all property owners, and could save taxpayers statewide between $7 billion to $8 billion a year.

MORTGAGE MARKET – As the damage from the credit crisis spreads and the bad news continues (think cash-strapped Bear Stearns) the Federal Reserve’s attempts so far to alleviate the problems – including a series of interest rate cuts and steps to inject hundreds of billions of dollars into the banking system – have had only short-term benefits. And investors are questioning how much the Fed ultimately can do.

REAL ESTATE INVESTING – The housing markets in college towns have remained relatively stable in the current slowdown, with students, university employees and faculty forming a steady stream of renters and homebuyers. Foreclosures are more common farther away from the University of Florida campus in Gainesville, for example, and finding a good investment property close to campus is difficult because sellers are few and prices are relatively high, says a Gainesville REALTOR®.

MORTGAGE RATES – Rates on 30-year mortgages increased this week for the fourth time in the past five weeks, rising to an average of 6.13 percent, up from 6.03 percent last week, according to Freddie Mac’s weekly nationwide survey.

HOMEOWNERS INSURANCE – A Florida Senate panel charged with studying Florida’s property insurance troubles – and why rates did not drop as hoped last year – delivered its findings and recommendations to lawmakers yesterday. One discovery: Computer models used to estimate future losses must be approved by the state, but some companies modified them later.

GOOD FAITH ESTIMATES – Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush.

If you are considering making a real estate purchase in the Naples, Bonita Springs or Estero areas be sure to obtain a good faith estimate from the loan officer or mortgage broker. Comparison shopping can save you literally thousands of dollars over the life of the mortgage as well as a better Annual Percentage Rate. 

HOMEOWNERSHIP – Govenor Charlie Crist’s Florida HOPE Task Force will meet March 19 in Tallahassee, where task force members will accept public comments on Florida’s foreclosure rate, and its impact on the state’s economy. The group’s goal is to "provide real solutions for Florida’s families and our state’s economy," according to Lieutenant Governor Jeff Kottkamp, task force chairperson.

MORTGAGE FRAUD – Florida ranked number one in the country for mortgage fraud for the second year in a row, according to a report released by the Mortgage Asset Research Institute and an industry group of the nation’s biggest lenders. Lenders reported more than twice the number of suspected fraud cases in Florida than would otherwise be considered average, based on the number of loans originated here in 2007.