Friday, August 28, 2009
Wednesday, August 19, 2009
Blaming the recession and steep drop in new residents of 58,000 over the past year for plunging tax revenues jobs in construction, real estate and mortgage lending have disappeared. This has resulted in empty classroom seats, down about 10,000 statewide compared to the previous year. Current popular is about 18.3 million, says the US Census Bureau.
Florida’s unemployment rate in June was 10,6%, highest rate since 1975, one of the highest rates in the US. Estimates used data from residential electric hookups, building permits and homestead exemptions.
Another factor fewer people are moving to Florida is their inability to sell their homes elsewhere to be able to move here.
However, growth is expected to resume as the economy improves.
Friday, August 14, 2009
The $8000 tax credit for new buyers using FHA-insured loans can be used for additional down payment funds or towards closing costs, and is set to expire November 30th. It has been very popular among first time home buyers to the extent of recent home sales to 1st time home buyers are estimated to be 40% of the market. There is talk from Senate and Congress of:
· extending the tax credit by the end of the year
· raising the tax credit to 15% or 10% of the home’s purchase price, whichever is lower
· removing income restrictions (currently available only to households making $75,000 or less)
· extending tax credit to ALL home purchasers, not just first-timers
· Estimates are that just upping the credit to $15000 would lead to 400,000 more home sales
Foreclosures weighing down many markets would be sold and absorbed. Let’s see if these ideas are passed and implemented.
Wednesday, August 12, 2009
Thursday, August 06, 2009
1. Olympic Village, Calif., 96146
2. Tahoe City, Calif., 96145
3. Terra Linda, Calif., 94903
4. Fisher Island, Fla., 33109
5. Dallas, Texas, 75205
6. Malibu, Calif., 90265
7. Bal Harbour Fla., 33154
8. Key Biscayne, Fla., 33149
9. Lake Forest, Ill., 6004510. New York City (Upper West Side), 10069