Real Estate Sales Increase.. Read on...

This is a VERY positive article. Note the increase of sales, and the slight decline in pricing from a year ago...BUT notice the 34% increase in prices over a 5 year period which is 7% per year.

Sales up, prices up, interest rates low. This is a great time to be in the real estate business.


http://www.floridarealtors.org/NewsAndEvents/n1-062608.cfm

Fed leaves rate means good news for real estate market.

Fed leaves rates unchanged....
Central bank ends nine-month course of rate cuts as it cites rising inflation risks and hints at a rebound in the economy.

This means that now is a great time to buy real estate, especially in the Lake City, FL area.

http://money.cnn.com/2008/06/25/news/economy/fed_decision/index.htm?cnn=yes

Online Home Values

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.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-062308.cfm

Mortgage Fraud Crackdown

See the article below, this is a big part of why the mortgage industry was in such a termoil.
from Chad Stewart - Lake City Florida Realtor & Blogger.
www.chadstewart.com

MORTGAGE FRAUD
At least 22 people in Miami-Dade have been arrested on federal mortgage fraud charges in recent weeks, pushing the total to 102 people charged since September. In 2007, there were 47,000 "suspicious activity reports" in Florida, which leads the nation in the number of reports. In 2003, there were only 7,000 - an increase of more than 570 percent.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-062008.cfm

Housing Aid

HOUSING AID
Major mortgage lenders have agreed to streamline and speed up the process for assisting distressed homeowners following criticism that they're too slow and sometimes unresponsive. Under new guidelines, homeowners seeking help can expect an answer within 45 days.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-061708.cfm

Analyst paints rosy picture for S. Fla. real estate agents

Analyst paints rosy picture for S. Fla. real estate agents
CORAL GABLES, Fla. – June 16, 2008 – Home prices in South Florida “easily” could be 20 percent to 30 percent higher by 2013, the chief economist for the National Association of Realtors said Thursday.Addressing local real estate agents during a conference at the Biltmore Hotel in Coral Gables, Lawrence Yun countered the persistent pessimism of experts who insist the region’s housing market will continue to struggle before rebounding slowly during the next few years.USA Today recently identified Yun as one of the nation’s top 10 analysts on a list measuring accuracy in forecasting. But real estate observers say he is overly optimistic because he works for the national Realtors’ group, whose goal is to promote home sales.

http://www.floridarealtors.org/NewsAndEvents/n3-061608.cfm

Selling your home means being realistic in down market FORT LAUDERDALE, Fla. – June 16, 2008 – Setting the right price for a home sounds simple, but too many sellers aren’t doing it.They insist that their properties are special and holding value, even though the median prices for existing homes have plummeted 26 percent and 24 percent, respectively, in Palm Beach and Broward counties since late 2005.These stubborn sellers ask for too much money, ignoring the list prices of nearby homes, not to mention their real estate agents’ advice. It’s a short-sighted strategy, one that ultimately costs tens of thousands of dollars in a depressed housing market like South Florida, agents say.

http://www.floridarealtors.org/NewsAndEvents/n4-061608.cfm

TECHNOLOGY Check it out: Tech analysts are praising the new iPhone's business applications, saying it poses a real challenge to the BlackBerry and other corporate cell phone systems for the first time. For example, unlike its predecessor, the 3G iPhone can connect with most corporate e-mail systems and handle Microsoft PowerPoint presentations.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-061108.cfm

HOMEBUYER TAX CREDIT NAR testified Thursday that a temporary tax credit would be the best incentive to move hesitant homebuyers into the market, basing its support on the success of a 1975 temporary tax credit that jump-started a slow housing market.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-060908.cfm

PENDING SALES NAR's Pending Home Sales Index, based on contracts signed in April, rose 6.3 percent to stand at 88.2 from a reading of 83.0 in March - the highest index since last October. According to NAR's latest forecast, a modest gain in home sales is possible over the next couple months, and the second half of this year should see some improvement as more buyers are able to access affordable mortgages. Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-060908.cfm

PROPERTY INSURANCE State officials issued a final decision Friday rejecting Hartford Insurance Co. of the Midwest and its affiliates' request for an average property insurance price increase of 40 percent. The Hartford decision is part of a campaign to "protect Florida consumers from unwarranted rate increases," Insurance Commissioner Kevin McCarty said in a statement.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-060308.cfm

PROPERTY TAXES It appears that Florida cities aren't hurting too much from the property tax cuts created by January's Amendment 1 thanks to the number of commercial enterprises. But suburban and rural areas have lost more funding since private homeowners benefited more from the tax cuts, and many local governments say they must raise tax rates or cut spending.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n4-060308.cfm

Real Estate in Lake City,