FAR “PUTS MONEY WHERE ITS MOUTH IS” RE PROPERTY TAX REFORM BALLOT

The Florida Association of Realtors, the largest trade group in the state, with 150,000 members, has pledged up to $1-MM to support passage of the Save Our Homes Amendment to allow homeowners to continue the 1992 Amendment for a 3% tax cap or to choose a new “super-homestead” exemption, taking up to $195,000 off their home’s taxable value. Passage of this amendment will provide meaningful tax relief for thousands of families including 1^st time homebuyers, and will equalize neighbor’s property taxes, says the FAR President Nancy Riley. She stated that then nurses, police officers, teachers and emergency first responders can afford to live in the communities they serve.

BOCA MUSEUM PLANS EXHIBIT OF DEGAS SCULPTURES

While a Jacksonville art gallery owner claims the 74 sculptures are “fakes,” made after Degas’ death in 1917, the Museum’s Board of Trustees discounts the art gallery owner’s opinion, noting the goal might be “to get his name in the newspaper.” Museums currently displaying all or portions of the Degas bronzes include the Metropolitan Museum of Art in New York, the Getty Museum in Los Angeles and the Chicago Institute of Art in Chicago. The National Endowment for the Humanities has underwritten some of the insurance expenses for the upcoming show. The museum’s website says that the exhibit, DEGAS IN BRONZE, “offers an extremely rate opportunity to view 74 sculptures, posthumously cast in bronze from Degas’ original composite and wax models.”

IN MY HUMBLE OPINION…

With reports just in that New York City and Salt Lake City are avoiding “the [real estate] bust,” can Palm Beach County be far behind? Some investors tell me they are “sitting on the sidelines” waiting for prices to keep dropping… other investors want to “sell and get out now,” but in many cases sellers are “standing pat.” Expired listings number near or over 500 properties each day. Some sellers cancel listings after getting low low bids. Remember that June and July are usually “slow months” with so many residents and part-timers out of town. August has been an outstanding month for sales in past years as folks come down to purchase residences for this coming winter… perhaps that will happen in 2007 as well. As a Realtor, I can tell you that every day in this career is exciting… new faces… new properties… no two ever alike. Like the stock market, real estate is cyclical… and what goes down will go up… just a matter of time. Stay cool. Hang in there.

Marilyn Farber Jacobs, Realtor, ePRO

GREEN IS THE BUZZWORD TODAY

An Environmentally Certified “Green” $25-MM mansion is being built in Manalapan.

Frank McKinney has been building one-of-a-kind mansions in the area for the last 20 years, and is now creating an oceanfront estate that is approved by the standards of the US Green Building Council and the Florida Green Building Council. The entire project will be the subject of a documentary series. Groundbreaking is being filmed as part of this program. A scale model has been made.

The 15,000 sq ft 3-story mansion will be rooted in nature, and will feature

• thatched roofs
• water gardens
• floating sun terraces
• a waterfall spa with fire feature
• interior acrylic main floor with moving water below
• a 24’ sheer water wall with fog/smoke screen on which moving images are projected
• suspended double-helix main glass staircase
• hand-blown chandelier that mixes electricity with water
• arched aquarium wet bar to be able to walk below and view the fish above
• guesthouse made of palm and bamboo that is partially submerged in a lagoon.

“Green” features will include

• solar panels that could cover a regulation-size basketball court to generate enough energy for two average-size homes
• water system that collects enough “gray” runoff water to fill the average swimming pool every 2 weeks
• reclaimied wood amounting to saving 7 ½ acres of Brazilian rain forest
• renewable woods that regenerate every 3 years vs. every 50 years for other hardwoods
• pools, reflecting ponds, water gardens, misters and more to drop the site temperature 3-5 degrees over neighboring properties
• recycling 340,000 lbs of debris during construction
• air-conditioning and air purification systems four times better than an operating room in the Mayo Clinic.

MacKinney has written two best-selling books, and raises millions of dollars for his Caring House Project Foundation to build housing for the poor in the United States, Haiti, South America, and the Caribbean.

Governor Charlie Crist plans to reenergize the state with a mixture of solar, wind and nuclear fuel. He is expected to emphasize using renewable fuels and include mandates for reducing greenhouse gas emissions. Friday afternoon, after two days of workshops and speeches at the Florida Climate Change Summit, Crist will sign executive orders and put his plan into law. Crist has signed California Gov. Arnold Schwarzenegger, Robert F. Kennedy Jr. and Theodore Roosevelt IV to the bill along with various Hollywood personalities and scientists, renewable-energy advocates and environmentalists who will talk about how Florida can become more energy-efficient and use alternative fuels.

California Governor Schwarzenegger has committing his state to reducing its carbon emissions by 25% by 2020, calling for 1 million solar roofs by 2018, tightening car-emission standards and creating a multi-state global warming group and it is speculated that this will happen also in Florida.

Florida Power & Light Co., the state's largest utility, maintains that using renewable fuels and more stringent energy-conservation steps won't be able to support all of Florida's future growth.

According to an FPL spokesman, "What you have heard from the environmental movement is that we can get there through renewables or we can get there through offsetting the energy that we are demanding today. And what we're saying is that (it) will not get you there. You will still need to build power plants." Crist has praised FPL for exploring a wind power project in St. Lucie County and is ecstatic about utility regulators denying the utility's plan to build a "clean coal" power plant in Glades County.

IDEAS FOR the 4th of JULY

BOCA RATON:

Wear your red, white and blue outfit and mosey over to FAU, beginning at 6 pm on Wednesday, July 4^th for a musical revue at 4 pm of “An American Songbook: Irving Berlin, at FAU’s University Theater. Tickets are $20. At 5:30, a few blocks away, the outdoor event will begin with games at the carnival midway and family activities. The muxic beings with the “Rumor Has It” band offering music of the 1950’s and 1960’s. At 6 pm family activities are held and at 6:30 pm there will be a stage show, “You’re A Grand Old Flag. At 7:30 the Florida Wind Symphony presents a patriotic musical tribute including vocal selections from the “Irving Berlin Review” and popular family musical, “Bye Bye Birdie, both currently being presented at the University Theatre.

At 9 pm, a fireworks display will take place with traditional patriotic music supplied by Radio station WRMF 97.9 FM.

Other activities include appearances by FAU athletic teams and coaches, clowns amking animal sculptured balloons, face painting, sand art, gift drawings and family games. Special music and activities will be provided by the Childrens Museum and Glass Productions. “Operation Goody Boxes”, coordinated by the Humanitarian Society and othes, will receive monetary donations at their tent by the stage area to prepare and mail “goody boxes” to troops overseas.

Food vendors will provide picnic-type foods. No personal fireworks, open fires, pets or alcoholic beverages allowed. Bring blankets and lawn chairs. Closest parking lots to the events are 1, 2, 4 and the parking garage next to parking lot 1. Those with handicapped needs are asked to use the 20^th Street entrance and go to parking lot 1. For information call 561-393-7806, selection 2.

DELRAY BEACH:

Join the day-long celebration on the beach, an ongoing tradition in Delray, starting at 8 am on Wednesday July 4^th. Three days in advance world-class sand sculptors being their work, with a grand unveiling of the large-scale sculpture on July 3^rd. At 10 am there will be a flag raising ceremony of a 30’x60’ American flag near the intersection of Ocean Boulevard and Atlantic Avenue. At 4 pm the traditional Patriotic Bicycle and Scooter Parade will leave from Veterans Park and head for the beach. New bicycles, helmets, gift cards and more will be awarded for the best decorated bicycles, wagons and scooters.

There will be music, entertainment and food available at restaurants on the beach. At 8:45 pm Mayor Rita Ellis will lead the pledge of allegiance and at 9 pm the fireworks begin accompanied by music.

HOME & CONDO SALES PREDICTED TO MAKE STRIDES

More and more positive mentions of home sales are being seen in the media.

NAR projects that sales will have a gradual upturn becoming more pronounced by the end of 2007. FAR reports that statewide sales of existing single-family homes in Florida totaled 12,607 in May, which is more in line with May 2002 activity, prior to the housing boom years, than May 2006 with 19,072 homes – a 34% decrease in the year-to-year comparison.

The MSA (Metropolitan Statistical Area) reported that the Boca-West Palm area had 741 homes sold last month compared to 982 a year ago, producing a 25% decrease. Median price was $387,800 whereas in May 2006 it ws $391,000 resulting ina 1% decrease. 613 existing condos changed hands last month, up 11% from the 552 condos sold the previous year. Existing condo medial sales price in May was $217,400; a year ago it was $218,900, for a 1% decrease.

Among the state’s larger markets, the West Palm Beach-Boca Raton Metropolitan Statistical Area (MSA) reported 741 existing homes sold last month compared to 982 homes sold a year ago for a 25 percent decrease. The market's median sales price for homes was $387,800; it was $391,000 in May 2006 for a 1 percent decrease. A total of 613 existing condos changed hands in the MSA last month, up 11 percent from the 552 condos sold the previous year. The existing condo median sales price in May was $217,400; a year ago, it was $218,900 for a 1 percent decrease.

ISRAEL BONDS INVESTMENT BILL SIGNED BY GOV CHRIST

A bill authorizing county and local governments throughout the state to invest surplus funds in bonds backed by the full faith and credit of the State of Israel has been adopted by the Florida State Legislature, starting July 1st, and was signed by Governor Charlie Christ on June 8th at a ceremony at Temple Beth El in Boca Raton.

Those authorized to invest are state agencies, municipal fire and police pension funds and local governments.

Gov. Christ recently returned from a trip to Israel that focused on bilateral trade between Israel and the State of Florida.

The first Israel bond was sold in 1951 and close to $25-billion in investment capital has been secured for the development of every aspect of Israel’s economy including agriculture, commerce and industry, and to absorb Jews from the former Soviet Union, Ethiopia and elsewhere.

More than $100-million of Israel Bonds are purchased every year within the State of Florida by individuals, corporations, pension plans, universities, hospitals, foundations, unions, banks and insurance companies.

BOCA TEECA TOWNHOUSE PROJECT NEARS FINAL RULING

The Planning and Zoning Board recommended the 211-unit townhouse project to be built on 30 acres on the southwest edge of Ocean Breeze Golf Course at Boca Teeca to the City Council after a hearing this past week. A public hearing will be held on August 14, and next the Department of Community Affairs must review the proposal. It then goes back to City Counsel in November or December for a final vote, requiring 4 yes votes of the 5 members voting. The proposal includes renovating the Inn at Ocean Breeze by adding 46 hotel rooms to the existing 46, and refurbishing the Boca Teeca clubhouse by adding a new social center. Included would be creating a new 9-hole executive golf course and a redesigned 18-hole golf course on the existing fairways. The townhouses would have golf course views. President of the President’s Council said that “the overwhelming majority of Boca Teeca unit owners fully endorse this plan and voluntarily agree to lift the deed restriction on 30 acres of the south course to allow for a limited 211-unit town home project.” Concerns included traffic along NW 2^nd Avenue and the loss to some residents of golf course views.

“PROTECTING FLORIDA’S INVESTMENTS ACT” SIGNED

Florida has now become the first state in the US to link its public investments with the actions of “rogue” nations.

The new law allows Florida to divest some of its $150-BB fund and other public investments from firms that refuse to stop doing business with or otherwise support Iran and Sudan. Genocide and the development of nuclear weapons by Iran, the “world’s leading state sponsor of terror,” will not be sponsored by Florida, said Senator Ted Deutch (D-Boca Raton) and he praised Florida Governor Charlie Christ, just back from a trip to Israel, for signing the bill.

Deutch says he is working with other states to accomplish a similar program, and Governor Christ has sent letters to Governors of 49 other states encouraging them to follow suit. Deutch said the use of the law would require three steps: Identify firms with ties described by the law, Engage those firms “in a dialogue that causes them to understand what they are doing, and Ask that those ties be severed. If they are not severed, those stocks will be divested from the pension funds holdings.

This bill was signed by Governor Christ at Temple Beth El in Boca Raton.

TAX CUTS ARE IN.....

Dear Property Tax Reform Supporter:

I am excited to announce that an agreement has been reached between the House and the Senate on the tax cut levels for historic relief and reform package that will save Florida taxpayers $31.6 billion over the next five years. This is, by far, the largest tax cut in Florida’s history.

I cannot be more proud of the excellent work of our negotiating team and the valuable input from our respective legislative chambers. Together, we are bringing forth a thoughtful and comprehensive plan that will give every property owner – homestead, non-homestead residential, and commercial/industrial – a tax cut this year. We are confident that when this plan is implemented, Floridians will finally have a more equitable tax system that will yield property tax bills that they can afford to pay.

The details of the plan are provided below. Thank you for continued involvement in this very important issue. Please e-mail us at info@nomorepropertytax.com for more information.

Sincerely,

Marco Rubio

Speaker, Florida House of Representatives

$15.6 billion in Immediate Tax Relief and Reform (Statutory Changes)

• Beginning this year, every category of property taxpayer will benefit from the cut and the cap that the statute imposes.
• All cities and counties will be required to cut taxes in the upcoming 2007-2008 fiscal year to the 2006-2007 revenue levels. These local governments will then be required to make an additional cut of 3%, 5%, 7% or 9%. The level of cuts will be determined by a formula that analyzes their taxing performance over the past 5 years, measured against a statewide average.
• Special taxing districts and fiscally limited cities and counties will be required to cut taxes to the 2006-2007 revenue levels and make an additional cut of 3%.
• A cap on future property tax revenues (based on the rate of personal income growth and new construction) will be imposed to ensure that government cannot grow faster than personal income.
• Local governments may override the cut and the cap. The method for the override will vary based on the magnitude of the local government’s action (escalating from a supermajority vote of the local governing body, to a unanimous vote of the local governing body, to a referendum).

$16 billion in Further Tax Relief and Reform (Constitutional Amendment)

• The estimated average savings for a homestead property (combining statutory and constitutional changes) will be $1,300 in 2008-2009. This average savings represents a 44% reduction.
• “Save our Homes” is replaced with a new “super exemption”. An estimated 73% of homesteaded properties will receive a greater benefit under this new exemption.
• The new “super exemption” will be as follows:
• Level 1: Homestead Property will receive an exemption of 75% of the first $200,000 in value of the home. The minimum exemption is $50,000 per homestead.
• Level 2: In addition to Level 1, homestead property will obtain another 15% exemption for the next $300,000 in value.
• We will grandfather the tax savings and assessment cap for the minority of property owners who have greater benefits under the current “Save our Homes” plan.
• We will preserve all existing constitutional exemptions based on special circumstances, including those now provided to disabled veterans, low income seniors and agricultural lands.
• Because the tax base for all taxing authorities will decline under the constitutional amendment, the fiscal analyses reflects a reduction in school funding. We intend to hold schools harmless from these cuts.

Other Constitutional Changes

There has been agreement to address remaining issues such as additional relief to low income elderly taxpayers, offering incentives for affordable housing and providing tax reform for “working waterfronts” and small businesses. Small businesses will receive a $25,000 tangible personal property tax (TPP) exemption resulting in a total exemption for $1 million of the 1.3 million businesses who must pay this tax. Furthermore, those who receive a total exemption on their TPP will never have to file the burdensome paperwork associated with the tax again.

BRINY BREEZES

The developer’s plan for 60 units per acre in Briny Breezes is being contested by locals. Hottest issue is the density level. It was pointed out by Ocean Ridge Mayor Ken Kaleel that this complex will be built on “a fragile piece of land,”. The developer offered $514-MM for the 43 acres that includes 600’ of the Atlantic Ocean frontage. Right now there are 12 units per acre with the trailers on the land, and Boca Raton, as an example, has maximum density of 20 units per acre. Some of the issues mentioned include overburdening roads, stretching scarce natural resources, and insurance increases from overbuilding on vulnerable barrier islands. Figures were mentioned that there were 488 existing trailers, and plans are to build 1500 units, either condos, timeshares or hotel rooms. The developer describes that portion of A1A as an arterial road, but the FDOT classifies it as a collector road, which is subject to higher standards. The county is concerned about a bigger need for sufficient drinking and firewater as well as traffic concerns and environmental issues. The developer’s preliminary proposal is being reviewed and expected to be finished June 29^th, when further debate no doubt will begin. For comments on the proposal you can email Robert Dennis, Regional Planning Administrator at bob.dennis@dca.state.fl.us.

MORIKAMI MUSEUM & JAPANESE GARDENS CELEBRATING 30TH YEAR

On Monday, June 25, a very special anniversary party, free to members and non-members, will be held at the facilities from 10 am to 5 pm. At 1:30 pm a huge anniversary cake will be cut and served.

There will be two free tours of the Pastimes and Amusements of the Japanese exhibition including Japanese toys, games, musical instruments and other objects depicting the spirit of amusement and playfulness enjoyed in Japan, which officially opens on June 26^th. One tour will be held at noon, one at 3 pm, limited to the first 100 people. Two tours will also be offered of the exhibition Yamato Colony at 11 am and 2 pm, each tour limited to 50 people. These are provided by a one-year Florida state grant. Tickets for all tours will be given out on a first-come, first-served basis, starting at 10 am. Guests are invited to stroll through the Japanese Gardens and can use a free audio tour.

For children, a treasure trek activity is being scheduled to take place in the Gardens. The Cornell Café will be open for lunch. The museum store will give a free Japanese fan for purchases over $15 and discounts on some items.

The Morikami Museum and Japanese Gardens are owned and operated by the Palm Beach County Parks and Recreation Department. They are located at 4000 Morikami Park Road in Delray Beach off Jog Road between Linton Boulevard and Clint Moore Road. 561-495-0233 or www.morikami.org.

FLORIDA’S HERITAGE TO BE SHOWN IN ART SHOW & THEATRE AT SUGAR SANDS PARK

Willow Theatre presents “The Life of Ivy Stranahan: A florida Pioneer, Saturday June 23^rd at 2 pm. Reknowned historical Chautauqa portrayal artist tells tales of old Florida, with Mrs. Stranahan trekking through knee-deep mud, championing the Seminole Indians cause and becoming Ft. Lauderdale’s first teacher, a portrait of achievement and courage. Tickets are $12. Purchase at box office (561-347-3948).

The Boca Historical Society exhibits will include”Herstory: Boca Raton’s Pioneer Women.”

Sugar Sands Park Community Center and the Willow Theatre are located at 300 S. Military Trail, B oca Raton (561-347-3900 or www.sugar-sandpark.org).

DOT EAST ATLANTIC AVENUE IMPROVEMENTS HEARING

On June 6 a meeting will be held to discuss proposed improvements to East Atlantic Avenue in Delray Beach between NW and SW 12^th Avenue to A1A. This will include milling and repaving existing roadway, updating curb ramps at intersections and adding cross walks, installing new mast arm traffic signals at some intersections, installing new highway lighting and adding new landscaping and decorative features. No formal presentation will be made; it will be an informal open meeting. It will be held 3-8 pm at the Old School Square Gymnasium at 51 N. Swinton Ave, just north of Atlantic Avenue. Construction is expected to begin in August 2008 and completed in a year and a half. Estimated cost is about $6-MM. For more information call FDOT’s Project Manager John Thmpson at 866-336-8435, Ext 4680 or email: John.Thompson@dot.state.fl.us.

THIS FRIDAY STARTS A 12-DAY TAX FREE HOLIDAY ON STORM ITEMS

Save money on batteries, generators, flashlights, fans, portable radios and other storm-related supplies during this period when you won’t be paying sales tax on these items. Florida residents are expected to save about $25-MM in sales taxes during this period.

DOWNTOWN BOCA SPINE

Plans for Crocker Partners to create a downtown Boca Raton pedestrian “spine which will include stores, shops, a hotel, offices and restaurants to create a pedestrian-friendly area with green space to attract walkers, are moving ahead now. The CEO, Tom Crocker says he has the backing of about 50% of downtown property owners for this Sandborn Square development, and is still working towards accord with one of the city’s largest landlords, who owns the Royal Palm Place shopping plaza at the south end of the city, which is planned to connect with Mizner Park. Two city blocks in downtown Boca will be involved. An architectural firm has been hired. The city, under Crocker Partners’ proposal, could authorize creation of a self-taxing community development district, which would be devoted to the spine road and public parking, then requiring no outlay of city money nor the need for bonds. Estimate from the city for the cost of the spine is about $30-MM.

BOCA AIRPORT OFFICIALS WINNING FIGHT AGAINST NOISE

Stage 1 and Stage 2 aircraft, weighing less than 75,000 lbs., are considered the noisiest of the small jets. Currently, an amendment to a bill that would phase out these aircraft has been approved by the US Senate Commerce Committee. Owners and operators of these craft would have a 5-year time frame either to discontinue operations or retrofit the planes with quieter engines. The Boca Airport has some Stage 2 planes based at the airfield, but no Stage 1 planes. Boca Airport is a member of the national organization, “Sound Initiative: A Coalition for Quieter Skies,” formed by airports and supported by local governments and anti-noise proponents. A noise abatement report and a committee to handle noise complaints were created a few years ago as a result of the aircraft noise from the Boca Airport. Next the bill goes to the Finance Committee for consideration, and then a House version will be considered.

100 COMPUTERS PURCHASED FOR PUBLIC USE BY NEW BOCA LIBRARY

With construction back on track and completion expected by the end of the year, there will be 65,000 books and 7,000 other media (DVD’s and CD’s). Computers will be purchased and there will be 2 computer labs, one for children and the other for adults. Another new library is planned on a parcel of land just north of the existing downtown facility at 100 NW Second Avenue.

UPDATE: FLORIDA LEGISLATURE

PROPERTY TAX – “where it is” on 5-4-07

The Florida Legislature suspended negotiations on Save Our Homes portability, rollbacks and other property tax reform proposals until next month when lawmakers return to Tallahassee for a 10-day special session from June 12-June 22. Both sides have already agreed on two FAR-supported tax relief measures - $25,000 exemption on personal intangible property for small businesses and some form of Save Our Homes portability (terms not released). Sources say that so far there is agreement on cutting property taxes by about $20-$25-billion over 5 years; no sales tax increase; some form of Save our Homes portability.

To write your legislator send an email to http://floridarealtors.org - see Legislative Center.

Legislators made it easier for certain property owners to get insurance from Citizens which is now Florida’s largest insurer with 1.3 million policyholders. Property owners will be allowed into the Citizens pool if the only insurance they could obtain on the private market was 15% more expensive than what they would pay Citizens. Citizens rates would freeze through 2008. On Jan 1, 2009, Citizens would again be allowed to raise rates.

Homes valued at over $750,000 and located in high-risk zones will be required to install opening protections as of July 1, 2008 if they seek a building permit for work estimated at $50,000 or more. By 1/1/2009, all homes valued at over $750,000 in high-risk zones must be fitted wit opening protections to remain eligible for Citizens coverage. This is to help reduce some of the risk in the event of a devastating storm. Free inspections of 400,000 single-family homes is called for and grants and loan are provided to certain homeowners to make improvements to strengthen their home against storms.

Home inspectors, mold remediators and mold assessors will be required to be licensed by the Dept. of Business and Professional Regulation as of July 1, 2010 IF SIGNED BY THE GOVERNOR.

Landlords are limited to a financial penalty when a tenant breaks a lease of two months of rent for leases of less than a year. Effective at once IF THE GOVERNOR SIGNS IT.

Mortgage brokers and lenders will now have many disclosure and education requirements to help protect consumers during the mortgage loan application process. This bill includes additional enforcement and investigative tools for prosecuting mortgage fraud. The definition of “primary title services” and “related title services” will be amended and a civil court case codified that permits a portion of a title insurance premium to be rebated IF SIGNED BY THE GOVERNOR.

RECORD PROFITS IN 2006 FOR NATION’S PROPERTY/CASUALTY INSURERS

Industry net income rose to $63.7-BB in 2006 from $44.2-BB in 2005, according to the Property Casualty Insurers Assn. Most of the improvement, they said, was because of fewer catastrophic storms in 2006 than in 2005. Profits were also boosted by stronger underwriting gains, which are premiums minus losses and admin expenses. While a highly active hurricane season was predicted for 2006, it gave insurers much-needed time to recover from the six 2005 catastrophic hurricanes. Chief Economist, of the PCIAA, Genio Staranczak, said that insurers need to worry about future storms. Increased property values, growing population and a threat of more frequent and severe storms in high risk areas of the US create a financial problem the nation must deal with. Colorado State U experts predict that the 2007 Atlantic hurricane season will be very active with 9 hurricanes.

LOTS DOING IN “TALLAHASSEE”

1000+ realtors are in Tallahassee for the FAR (FL Association of Realtors) convention, and meeting with local senators and representatives on property tax reform, affordable housing, property insurance and other housing issues.

On tap:
…Senate is expected to release its property tax reform package shortly
…Senate Banking Committee and Insurance Committee Chairman rolled out property tax insurance reform bills (each of which have been approved during the proceedings)
…Another bill deals with hurricane mitigation
…Gov. Charlie Christ is supporting bill SB-2498 to allow homeowners to opt for coverage from the state-run insurer if they have an offer from a private insurer that’s 15% higher than the premium charged by Citizens. Homeowners would be allowed to stay with Citizens regardless of the rate offered by a private market insurance company & the bill will require the Office of Insurance Regulation to take into consideration the profits of parent companies when approving insurance rates
… The Senate Regulated Industries committee unanimously passed SB 2234 to provide licensure and regulation of home inspectors, mold assessors and remediators, but exempt from law: engineers, architects, building code administrators, real estate appraisers and fire safety inspectors. Licensure would be required for completion of a 120-hour course of study, and require 14 hours of continuing ed every 2 years.
…Gov. Christ signed legislation that could double the additional homestead exemption available to low-income seniors. HB333 implements a constitutional amendment approved by voters that increases the local option for the homestead exemption from $25,000 to $50,000 for individuals age 65 and older whose income does not exceed $23,414 in 2007.

GRADING SYSTEM COMING FOR EACH HOME’S ABILITY TO WITHSTAND SEVERE WIND DAMAGE FROM STORMS

During January’s special session to address the property insurance crisis in Florida, Senate Bill1980 and House Bill 1-A contained a rating system to score homes on a scale of 1 to 100 for their ability to withstand severe wind damage from storms. The Florida Insurance Commissioner said that “the adoption of a uniform scoring system for home safety is long overdue.” This plan is yet to be approved by lawmakers.

FIVE MAJOR HURRICANES FORECASTED FOR 2007

Forecasters from the Tropical Meteorology Project at Colorado State University say that with El Nino weakening, the 2007 hurricane season will be very active... and will include 17 named storms for the season between June 1 and November 30. Included, they predict, will be 9 hurricanes, 5 of which are expected to be major with sustained surface winds of at least 111 mph. However, the season, they say, will not be as active as 2004 and 2005 when hurricanes caused billions of dollars worth of damage in Florida, and days or weeks without power for millions of residents. They predict there is a 50% chance of at least one major hurricane hitting land along the east coast, including the Florida peninsula.

El Nino occurs when weak easterly trade winds allow warmer waters of the western Pacific to migrate east. The accompanying vertical wind shear stunts the formation of hurricanes. In the end of May this team will update their predictions.

NEW CHANGES COMING TO PROPERTY TAXES AND HOMEOWNERS INSURANCE

State House leaders fast-track bill to reduce property taxes. In early March the House Efficiency & Accountability Council passed a controversial bill to sharply roll back local taxes, saving homeowners statewide as much as $5.8 billion. This is step #1 in a 2-phase plan – the 2^nd is a constitutional amendment to do away with all taxes on homesteaded property and replace this with a 2 ½% increase in the statewide sales tax.

The Florida legislature passed a bill that could lower premiums between 5% and 40% and provide other insurance relief to millions of property owners. Some of the new provisions might include that property owners may be able to exclude windstorm and contents coverage. The state may remove the new requirement that Citizens Property Insurance Corporation charge the highest premiums in the state. The Citizen’s Jan 1, 2007 rate increase might be frozen at the Dec. 31, 2006 level. They may eliminate the cap on deductibles so a homeowner can choose a deductible other than the standard 2%, 5% OR 10% in current law. All non-homestead properties would be eligible for Citizens coverage effective March 1, 2007. Insurance companies may be required to give at least 100 days written notice of non-renewal, cancellation or termination of a homeowners policy. Payment of claims might be expedited following a storm, e.g., within 90 days.

To read the entire bill go to http://snipurl.com/185co.

1st Annual "MEET ME" ARTS & CRAFTS FESTIVAL

March 3 & 4, 2007 - Royal Palm Place, Boca Raton FL

This show will feature over 75 artists and crafters from all over the US, showcasing a variety of fine arts, sculpture, painting, mixed media and unique crafts. 10 am - 5 pm. Admission is Free.

http://www.royalpalmplace.com

A WONDERFUL IDEA FOR LUNCH!

A Gilded Age Tea

1/1/2007 - 4/7/2007 - Flagler Museum, One Whitehall Way, Palm Beach, FL 33480.

The Pavilion Cafe will present a traditional Gilded Age style lunch featuring an array of delicacies and refreshments reminiscent of the elegance of entertaining during the Gilded Age.

Tuesday - Saturday: 11:30 a.m. - 2:30 p.m.; Sunday: 12:00 p.m. - 3:00 p.m.$18 for museum members; $33 for non-members (includes museum admission).

http://www.flaglermuseum.us/

Want to sell your home? Looking to buy in southeast Florida?

TALK TO Multi-Million Dollar Producer MARILYN FARBER JACOBS, Realtor, e-PRO - Lang Realty. Phone: 561-988-0070 Fax: 888-811-8803. Marilyn lists and sells Homes, Condos and Townhouses in Southeast Florida - All Palm Beach County and North Broward County, and anywhere from Jupiter to Miami.

MARILYN SELLS HOMES THAT DIDN'T SELL.

Explore the area, Search FL MLS at http://www.marilynjacobs.com/ & Compare Waterfront Condos at http://www.flwaterfrontcondos.com/. If you know someone who is interested in a reverse mortgage, see http://www.ReverseMortgages4Seniors.vpweb.com.

Please add your comments and send your questions! Happy to answer them and to explore the area with you to find you THE HOME OF YOUR DREAMS. If you are interested in listing your home for sale, ask for Marilyn's Marketing Plan! See how Marilyn brings THE MOST BUYERS to your listing!

FESTIVAL OF THE ARTS AT MIZNER PARK

Key events at the Festival include violinist Itzhak Perlman (March 10), concerts by the Boca Raton Philharmonic Symphonia with Flutist James Galway (March 6) and jazz trumpeter Arturo Sandoval (March 11). Lectures will be given by Edward Albee and Anna Quindlen. For more information and reservations, go to http://www.festivaloftheartsboc.org/, or call 866-571-2787.

HOMES AND CONDOS SALES NUMBERS DOWN

2% less home sales and 23% less condo sales in the West Palm Beach/Boca area for 1Q 07 vs. 1Q06, 8% lower priced single family existing homes sales and 29% lower priced sales of condos. Source for this information is FAR (Florida Association of Realtors) and University of Florida Real Estate Research Center based on MLS survey of sales levels from Florida's Realtor boards/associations.

CLEVELAND CLINIC TO OPEN WEST PALM BEACH OFFICE

The Ohio-based clinic, one of the nation’s top hospitals and an international leader in clinical research and medical education will open the Cleveland Clinic Health & Wellness Center in early February at a temporary location in the Northbridge Center, 515 N. Flagler Drive, West Palm Beach, and will expand to a permanent location in early 2008.

The Center will initially be staffed by one to two internal medicine physicians and other specialists and will rotate the specialists as need demands. Specialists could include neurologists who are in short supply in Palm Beach County. Consultants and evalutions will be provided and transfer to the Clinic’s Weston medial campus, a 150-bed hospital, outpatient clinic and providing educational facilities. About 120 physicians with 35 specialties will be available for Palm Beachers from this Weston campus. Patient demand will drive which specialties are chosen for Palm Beach.

The Cleveland Clinic is the only institution in Borward County that offers post-graduate medical education in internal medicine, cardiology, colorectal surgery and others. Some of these specialists may do rotations at the West Palm Beach Center.
A $70-MM donation from Sydell Miller of Palm Beach and Cleveland, who credits the Cleveland Clinic with saving her life by diagnosis and surgery in 1992, has been a major spark plug in getting the Cleveland Clinic to the Palm Beaches.

EVENING ON ANTIQUE ROW

Mark your calendars now to attend the 12th Annual Evening on South Dixie Antique Row in West Palm Beach, a Benefit for the Historical Society of Palm Beach County: Satruday, March 3rd, 5:30 – 9:30 pm.

Promenade down the finest antiques street in Florida enjoying food, wine and music. Held between the 3300 and 3900 blocks of South Dixie Highway between Southern and Greenwood.
Advance tickets are $30 each ;r $55 for 2 – or pay $35 each at the door. See www.historicalsocietypbc.org.

FYI for the HARD OF HEARING

CAPTIONED PHONE SERVICE COMING ON COMPUTER, PDA OR OTHER WIRELESS DEVICE FOR HEARING IMPAIRED

FCC approves Internet Protocol captioned telephone service for reimbursement from the telecommunications relay fund. Now captioned telephone will be brought into the broadband world. This will enable Americans with hearing loss who have up to now been served by relay services to have full communications access.

A computer, PDA or wireless device will be used to make a call without having to purchase special telephone equipment and will be particularly helpful in the workplace. In addition, people with low vision will be accommodated because they can take advantage of the large text, variable fonts and colors available.

A consumer can make a voice-to-voice phone call and then both listen to the other party, to the extent that they can hear what is said, and read on a screen what they have said, giving clarity. The Commission said that it expects that, as with captioned telephone service, the service will be provided in a way that is automated and invisible to both parties to the call, and will be fast enough to keep up with the speed of the other party’s speech.
The Commission conditioned its approval of the October 2005 petition from the Hearing Loss Association of America, which was widely supported by more than 30 organizations in the disability community. All providers must be licensed at reasonable rates. IP CTS calls will be compensated, on an interim basis, at the IP Relay compensation rate. Providers seeking to offer this service and be compensated from the Fund may seek certification from the Commission as an eligible provider. This is an interim measure and the Commission intends to revisit the cost recovery methodology for this service in the future, including jurisdictional separation of costs.

Florida Leads the way in Luxury Golf Course Real Estate

UNIQUE HOMES: Stateside, Florida Leads the Way in luxury golf course real estate with 545 golf-course communities. Since 2001, 1764 new golf holes have been added, which would equal 98 new 18-hole golf courses. In 2006, 153 new holes appeared through August.

PORTABILITY PETITION (re property taxes)

TO SIGN and WHERE TO MAIL PORTABILITY PETITION (re property taxes) go to:

http://www.co.palm-beach.fl..us/papa/

and click on link to portability petition - get address to mail petition to, print it out and sign and mail it.

"The Florida Legislature could add the issue of Portability to its January special session agenda and adopt our ballot language," said Palm Beach County Property Appraiser Gary Nikolits, a member of the Board that sponsors the petition drive. "That would save us the work of gathering the nearly 750,000 signatures needed to place the issue on the ballot," he added.

MARILYN FARBER JACOBS

EMINENT DOMAIN MAY RESULT TO CREATE DOWNTOWN BOCA “SPINE”

A pedestrian walkway is proposed from Mizner Park to Royal Palm Place and negotiations soon will begin for the purchase of land in the area, with eminent domain (“the forced taking of land”) a possible consideration. The aim is to create a path with eye-appealing amenities to draw people to see it, and to shop along the way. The Boca Raton Historical Society is trying to preserve certain sections of the city’s retail center because of the historic value. The land acquisition should end by the 3rd quarter of 2008. A bond issue will develop to cover costs, and public input will be involved Design of the spine should run from mid-2008 to the first quarter of 2 009. Construction and engineering could start in the 2nd quarter of 2009 with completion planned for the 4th quarter of 2010.

9-PASSENGER JET CHARTER ADDED AT BOCA RATON AIRPORT

Executive Jet Management added a private jet to Boca Raton which has a non-stop range of 4400 miles, and can fly Boca to Los Angeles or Miami to Brazil. The company is a leading provider of worldwide jet charter and aircraft management services which has earned the “Best Charter Service” award from Professional Pilot magazine subscribers for it’s 9th consecutive year. The company is a wholly owned subsidiary of NetJets Inc., a Berkshire Hathaway company and manages aircraft in more than 60 locations throughout the country. The jet features a DVD player, two 18” video monitors, two data ports, flight phone and galley with microwave and conventional ovens. The plane is a Falcon 2000EX.

TRUTH or FICTION in the headlines?

An article in the Wall St Journal on September 12, 2006, stated that home sales have "plunged over the past year in many areas where prices had soard over the preceding five years." The full story is that prices only went down 1.7% although the number of home sales did plummet 12.6% in August 2006 vs. August 2005. More accurately, sales have EASED. Not a huge plunging change! Although not the case in 2004 and 2005, there is a slowdown in home sales during most summers in home sales in Florida!

NEWSPAPERS HAVE LOST MANY REAL ESTATE ADS TO THE INTERNET

Newspapers will face a huge loss of real estate ads to the Internet, according to Borrell Associates, a national consulting and research firm that tracks local internet advertising and crafts strategies for media and websites. See http://www.borrellassociates.com/product.cfm?prodID=55 .

"Toward the end of 2005, the Internet became the most-used method of selling a home -- beating out even the old-faithful yard sign," says Borrell. “The $11 billion spent on total real estate advertising stagnated, growing less than 4% over the past four years, while the available advertising inventory -- the number of existing homes for sale on the market -- rose 41 percent in the last 12 months. That metric alone is enough to stop a real estate advertising executive dead in his or her tracks."

The Newspaper Association of America reports that classified ad revenue amounted to $16.6 billion in 2004 -- down from $19.6 billion from 2000. Corrected for inflation the situation is far worse: Newspapers would have to have taken in $21.5 billion in 2005 to equal their 2000 classified revenues. See http://www.naa.org/thesource/20.asp .

Will INTEREST RATES GO FARTHER DOWN NOW?

September 18, 2006 - Says David Lereah, chief economist for the National Association of Realtors, "Mortgage rates are one of the bright spots in the economy right now, with an unexpected decline recently in the 30-year fixed rate to a narrow range around six-and-a-half percent. This should encourage some of the nearly 4 million people who’ve found newly created jobs over the last two years.”

CITIZEN's DEFICIT to cost ALL FL HOMEOWNERS

CITIZEN’s DEFICIT to cost ALL FL HOMEOWNERS

A one-time charge of $20.70 for every $1000 of annual homeowner insurance premiums due for Florida homeowners with their next renewal bills, added to rate hikes that have already appeared. This is to HELP cover Citizen’s Property Insurance Corp’s $1.7-Billion deficit from 2005, to shore up the state’s home insurer of last resort and now its biggest property insurer.

This is the second time in 2 years that all Florida home insurance policyholders are being forced to bail out Citizens, which has been drained by hurricane-related claims.

Once the assessment gets the go-ahead from the state Office of Insurance Regulation, homeowner insurance companies will pay Citizens and pass the charge on to their customers when the policies are renewed.

This assessment, already approved, is expected to raise $163-MM, and combined with $715-MM in sales tax money already set aside, plus the assessment Citizens is to consider next month which is expected to raise $822-MM.

This information is from the 9-17-06 issue of the Sun-Sentinel newspaper.

Have You Read About CarePages?

CarePages.com is a free secure private internet space for families and invited friends to form an online support community around a patient. This space can be used to post get-well wishes, upload photos and share info about the loved one’s illness, recovery and/or rehab. Patients can respond online, and family members can communicate with staff.

One family member is designated to be in charge of the space. CarePages currently manages over 50,000 individual CarePages communities with over 5-MM members in 190 countries around the world. Over 500 hospital and health care facilities across the US and Canada are offering their own customized versions of CarePages.

Go to www.carepages.com for a visit.