REAL ESTATE TAXES

The Florida House passed a stringent tax-cut package along party lines, but faces long odds in getting the Senate to agree to cuts that would dig into local government and school budgets.

NEW HOME SALES

New home sales were down again in March by 8.5 percent, with the median price 13.3 percent lower than in March 2007.

HOMETOWN DEMOCRACY

A Florida Court of Appeal yesterday overturned a law allowing voters to revoke their signature from a petition signed in favor of the Hometown Democracy anti-growth amendment. Opponents of the amendment plan to appeal the decision. No matter what the outcome, though, the Hometown Democracy Amendment will not appear on the November ballot.

Computer Tip – today I this great resource for computer users on the Sellius Blog – you might want to check it out – 529 Computer Tips from PC Magazine. Thanks for the great article, Joe Ferrara.

HOMEOWNERS INSURANCE

It’s a do-over: Allstate Corp. is preparing for both favorable and unfavorable rulings on its ability to conduct new business in Florida after an appeals court erroneously released a decision late Monday that could have meant trouble for the insurer. The real ruling is expected Tuesday.

SUBPRIME MORTGAGES

Efforts to help struggling borrowers are falling short, according to a report from the State Foreclosure Prevention Working Group, which found that 70 percent of homeowners at least two months behind on their mortgage payments still aren’t getting help. The number of homeowners facing foreclosure has increased 16 percent, partly based on slow assistance from lenders, according to the report.

INSURANCE ADJUSTERS

Public adjusters: Defenders of homeowners or opportunists who milk the system? While many property owners credit public adjusters with saving their home, critics claim that adjusters pressure homeowners to submit less-than-legitimate claims. In response, a handful of bills in the Florida Legislature would create new oversight rules.  

HOME SALES

Florida Association of Realtors statewide reported slight gains in existing home and condominium sales from February to March 2008, according to Florida Association of Realtor’s latest housing statistics. A total of 9,142 existing single-family homes changed hands in March, a 10 percent increase over the previous month. Statewide existing condo sales totaled 3,145 in March, up 13.7 percent compared to February’s sales. Tomorrow market updates for Naples, Bonita Springs, and Estero will be posted.

HOMEOWNERSHIP

The American Dream lives. According to a survey from America On Line Real Estate and Zogby International, 31 percent of respondents believe their home is worth more than it was a year ago, and 56 percent do not think their home will be worth less in five years; 69 percent consider real estate to be a viable investment.

SUBPRIME MORTGAGES

A leading plan in Congress would make it easier for an at-risk homeowner to get an Federal Housing Administration – backed mortgage. If enacted as written, total monthly debt obligations could rise to 50 percent (or 55 percent at Federal Housing Administration’s discretion) of monthly income, and a poor credit score or past delinquencies cannot by themselves disqualify a homeowner.

JUMBO LOANS

Jumbo loans have been tainted by the subprime mortgage crisis even for borrowers with good credit. Twelve months ago, only a quarter point separated jumbo rates from conventional mortgage rates; but today, the difference is more than 1.5 points.

ALLSTATE

Allstate’s 1,100 insurance agents in Florida are still in business, thanks to a mistake by Florida’s 1st District Court of Appeal. The court issued an order denying Allstate’s appeal of a suspension but quickly withdrew it “due to clerical error.”

HOMEOWNERS INSURANCE

Headed into the final two weeks of the legislative session, several property insurance bills winding through the state House and Senate are like hurricanes – they’re moving slowly, gaining speed and could hit homeowners hard.

FEDERAL REGULATION

Many conservatives now think the government needs to get more involved in regulating the financial aspects of the housing industry, even if it goes against their philosophical position concerning limited government interference in business and individuals’ lives.

HOUSING AND URBAN DEVELOPMENT

President Bush on Friday chose Small Business Administration Administrator Steve Preston to take over as head of the government’s housing agency at a time of crisis in the industry. Democrats praised him as a problem-solver.

HEALTH INSURANCE

The Florida House early Saturday passed a massive plan to make affordable, bare-bones health insurance available for Floridians. A less wide-ranging proposal has already passed the Senate, and now the two groups must work out their differences before sending a final proposal to Govenor Charlie Crist.