Overheated Housing Markets Cool - June , 2007
Florida Legislature OK'S Tax Cut - June , 2007
Local Real Estate Market Brighter Than National - June 2007
Values Keep Rising - June 2007
Plenty of Room for Rebound - June 2007
Home sale pick up in Sarasota area - May 2007
Florida Home Market Still in Flux - May 2007
Mortgage Applications Tick Higher - May 2007
Sarasota Homes Sales Buck National Trend - April 2007
 

Real Pain from Real Estate - December 2006
First-Timers Begin Looking At Houses Again - December 2006
Mortgage Rates Fall - November 2006
Realtors Like MLS Data - October 2006
National Real Estate News
Market Challenges Appraisers - September, 2006
 

Insurance update - September 15, 2006
Florida’s Hurricane Catastrophe Fund and discounts for homeowners who harden their homes against hurricanes were key topics of discussion at last week’s meeting of the governor’s Property & Casualty Insurance Reform Committee. The 15-member group, made up of Realtors®, insurance company representatives, business owners, legislators and other stakeholders, was formed to study all aspects of Florida’s crippled insurance market and recommend solutions to Gov. Jeb Bush and other legislative leaders by Nov. 15. Among the ideas discussed last week: Expanding the CAT Fund to include commercial carriers; requiring insurers to offer consumers discounts for fortifying their homes against hurricanes and to clearly outline the discounts in renewal notices; and allocating more money to the state’s free hurricane inspection program ( http://www.mysafefloridahome.com) . Details of the specific proposals are available at http://www.myfloridainsurancereform.com . The group meets again on Sept. 21 at Florida International University’s main campus (Graham Center) in Miami.

Florida Insurance Commissioner Kevin McCarty last week ordered Universal Underwriters Insurance Company to refund $5.3 million in premium overcharges to commercial policyholders in the state. The order also requires Universal to develop and implement procedures to assure that appropriate premiums are charged to Florida businesses in the future.

State regulators last week rejected a request by First Floridian Auto and Home Insurance Co.’s to raise homeowners’ insurance rates by an average 63.2%. Tampa-based First Floridian has more than 86,000 policies in Florida.

* Some 370,000 Allstate Floridian policyholders could face double-digit rate hikes as early as Dec. 3. Florida’s third largest insurer wants to raise rates 24% for Allstate Floridian customers and 33% for Allstate Floridian Indemnity customers. If approved, this will be the second double-digit rate hike for Allstate customers this year.
Source: Sarasota Association of Realtors

NAR predicts slower real estate market - September 15, 2006
NAR’s most recent Pending Home Sales Index, which is based on contracts signed in July, dropped 7 percent in June to 105.6, a clear indication of what many have expected for some time: home sales are softening. (An index of 100 is equal to the average level of contract activity during 2001, the first year to be examined.)

According to David Lereah, NAR’s chief economist, “Psychological factors are causing some buyers to remain on the sidelines, waiting for prices to stabilize or for more favorable news about the market and the economy. Contributing to this hesitancy is a lot of negative news stories. In the end we believe underlying market fundamentals will prevail.”

According to figures released last week by the Office of Federal Housing Enterprise Oversight (OFHEO), the agency that oversees Fannie Mae and Freddie Mac, average home prices rose 1.17 percent in the April-June period. That compares with a 3.65 percent increase in the second quarter of 2005, representing the biggest decline in price growth since OFHEO started keeping track of home prices in 1975. The agency cited higher interest rates and rising inventories of homes for sale as possible factors in the slowdown in price growth.

The University of Florida’s (UF) Consumer Confidence Index dipped 11 points in August to 76, its lowest level in more than a decade. Floridians were feeling blue on many levels: expectations about U.S. economic conditions over the next year and next five years; perceptions of whether it’s a good time to buy big-ticket items; perceptions of personal finances over the next year; and expectations about personal finances now compared with a year ago. Nationally, the Conference Board Consumer Confidence Index posted a sharp decline in August. The Index now stands at 99.6, down from 107.0 in July.

Source: Sarasota Association of Realtors