DOCUMENTARY STAMPS

Effective June 1, the state stopped requiring real estate buyers and sellers to reveal their sales price in sworn government documents, leading local officials to worry about an increase in tax cheats and a decrease in income from documentary stamp taxes. “It’s typical state government: penny-wise and pound-foolish,” says Broward County Property Appraiser Lori Parrish. “Most people are honest, and we have to hope they continue to do the right thing.”

Documentary stamps paid on the deed based upon the sales price of the property is $0.70 per $100 or faction thereof.

ONLINE HOME VALUES

Consumers love real estate Web sites that offer an immediate estimate of a home’s worth, and some Internet users are almost addicted to seeing fluctuations in their home’s value. One problem, however: The percentage of error is still “very large,” making any single home’s estimate almost worthless.

My personal experience with these web sites is that my personal Naples home was overvalued by about 20 percent based upon current market conditions.

HOUSING AID

Negotiators are working to reach a deal with the White House on a massive housing rescue package, hoping to get the initiative passed this summer. President Bush has threatened a veto, but lawmakers in both parties say the housing legislation is a political imperative. “The American people expect us to provide effective and timely solutions,” Treasury Secretary Henry M. Paulson said.

VACANT HOMES

One of the chief frustrations that cities face in dealing with the nation’s foreclosure crisis is collecting on liens for code violations. In the hopes of finding some solutions to the growing problem of vacant and abandoned properties, mayors of cities across the nation attended the U.S. Conference of Mayors in Miami Sunday.

WATER RIGHTS

As Florida’s population grows, water increasingly becomes a political issue. Last week, Florida said it would sue the Army Corps of Engineers for violating the Endangered Species Act, a move that could further complicate strained relations over shared water resources between Florida and Georgia.