REAL ESTATE TAXES – Florida’s House of Representatives released its updated real estate tax reform plan, which includes a number of initiatives. House leaders now hope to build a bipartisan consensus to show the Senate that they’re serious about drastically cutting state real estate taxes.
COMMERCIAL REAL ESTATE – Analysts say the outlook for commercial real estate is cautious but decidedly upbeat. Led by strong growth in the office and retail segments, commercial property sales hit $401 billion through Oct. 18, outpacing last year’s $359 billion total, according to Real Capital Analytics, a New York based real-estate research firm.
HOMEOWNERS INSURANCE – Will Florida’s fragile property insurance market right itself any time soon? Will rates continue to climb? Insurance Commissioner Kevin McCarty offered some answers in an interview last week.
FORECLOSURES – A growing number of investors are making the drastic decision to walk away from their properties and ultimately send it into foreclosure. But financial advisors say that walking away from a mortgage is almost always a bad idea: You may lose your ability to take out future loans, and the lender could come after your personal assets, depending on state laws and the terms of your loan.