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HOME SALES
Rising mortgage rates, rising insurance premiums and higher energy
costs impacted Florida's housing sector in June. A total of 18,089
existing single-family homes sold statewide last month, a decrease
of 29 percent from the previous June, according to FAR. The
statewide existing home median price rose 3 percent to $257,800.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n1-07252006
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COMMERCIAL
For years, Florida job boosters pitched the state as the economic
development equivalent of Wal-Mart, with "Everyday Low Prices"
on homes, commercial property, taxes and wages. In the past half-
decade, though, some areas of Florida have shed the Wal-Mart cost
structure and are now edging into Nordstrom territory.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n2-07252006
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CONSUMER CONFIDENCE
Are there good times ahead? The Conference Board Consumer
Confidence Index, which had increased moderately in June,
posted another slight increase in July. The Index now stands at
106.5, up from 105.4 in June.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n3-07252006
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MORTGAGES
The FRM is making a comeback. As short-term interest rates increased
over the second half of 2005, homeowners moved from ARMs and back
toward fixed-rate mortgages, according to the Mortgage Bankers
Association.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n4-07252006
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APPRAISALS
As the housing market adjusts, some homeowners may be dealing with
issues relating to inflated appraisals of home values. Such appraisals
could be a risk for those who in the past few years have bought homes
with little or no downpayment, or used almost all of their home equity
to finance home improvements or other types of spending.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n5-07252006
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DEMAND FOR SENIOR HOUSING GROWS
The market for senior housing is growing, according to the National
Investment Conference for the Senior Living and Long Term Care
Industries, which provides information to lenders, investors and
others interested in senior housing financial issues. NIC says
demand for senior housing will double and the amount of capital
invested will rise to $490 billion by 2030. The typical 80- to
85-year-old senior -- the likely customer for senior housing --
owns his or her own home outright and can afford to demand
quality accommodations, says Michael Hargrave, director of
sales and marketing for NIC.
Source: The Miami Herald, Elaine De Valle (07/23/06)
© Copyright 2006 INFORMATION, INC. Bethesda, MD
(301) 215-4688
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WHAT ARE YOUR ISSUES?
Take a moment to help FAR develop its 2007 legislative agenda
by completing the FAR Public Policy Agenda Survey now. FAR
would like to identify Realtors' top priorities heading into next
year's legislative session. We need your help focusing and ranking
top legislative and regulatory concerns. As a member of the Florida
Association of Realtors, your input is vital and every response counts.
Your survey feedback will help us develop our 2007 public policy
agenda, and we will use this member-driven consensus as our marching
orders in Tallahassee next session. To make your voice heard, go to
FAR's legislative Web site, http://media.living.net/Legislative2006, and
on the left side, click "Take the FAR Public Policy agenda survey now!"
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