News: Current Articles

Posted May 01, 2009 01:43

The Atlantic hurricane season starts June 1 - 30 days from now. Since flood insurance takes 30 days to become effective after a homeowner applies, today marks Floridians last chance to get flood insurance by the June 1 debut.

"Past hurricane seasons have shown that storms can form as early as the beginning of June, so property owners can't afford to wait to buy flood insurance," says Ed Connor, acting federal insurance administrator and acting assistant administrator, FEMA Mitigation Directorate.

Many homeowners still wrongly believe that their property insurance policy will cover all damage from a hurricane.

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Posted April 26, 2009 22:26

How can you tell if a listing has Chinese drywall? It's a simple question without a simple answer. The Florida Department of Health has a Web site section devoted to the problem, however, and it updates information as it comes in.

Since it helps to understand what kind of damage tainted Chinese drywall can cause, one section, "Case Definition with Pictures," includes photos of mirrors, pictures, pipes and other household items impacted by the drywall.

The Web site also explains how the state plans to deal with the problem and includes details on how to file a complaint. For more info, visit the site at: http://www.doh.state.fl.us/Environment/community/indoor-air/drywall.html.

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Posted April 26, 2009 22:23

In every crisis, a handful of unsavory characters will take advantage of worried homeowners. Yesterday, Florida Attorney General Bill McCollum issued a consumer advisory against "experts" offering help with Chinese drywall problems.

At least two types of fraudulent activity involving the defective drywall have been reported to the Florida Attorney General Bill McCollum's Office by individuals in the building industry: bogus tests to determine the presence of the product and quick cure remedies that falsely claim to remove the corrosive properties of the drywall.

According to reports, defective Chinese drywall in a home causes black corrosion to appear on copper air conditioner coils and non-insulated copper wiring. If the air conditioner coils are corroded black, there is a strong likelihood that defective imported drywall is present in the home. Most homes that contain defective imported drywall were built between 2004 and 2008. Other homes probably do not have Chinese drywall.

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Posted April 26, 2009 22:19

If first-time homebuyers wait until November to sign a sales contract, it's probably too late to get the $8,000 tax credit. To qualify, buyers must close before Dec. 1 - a signed contract is not enough. New construction should be started by mid-summer to qualify.

According to the National Association of Realtors, a "home is considered as 'purchased' when all events have occurred that transfer the title from the seller to the new purchaser. Thus, closings must occur before December 1, 2009 for purchases to be eligible for the credit."

Noting that deadline, the National Association of Builders kicked off a campaign notifying buyers that if they want the tax credit, they should plan to sign a construction contact soon.

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Posted April 17, 2009 14:38

Florida Attorney General Bill McCollum unveiled a new Web site to help homeowners avoid mortgage fraud scams. The Web site - http://myfloridalegal.com/mortgagefraud - gives consumers easy access to current investigations, complaint forms, and tips to identify and avoid foreclosure rescue fraud. Fraud involving loan modifications related to foreclosures is the complaint topic most commonly reported to the Attorney General's Office. The complaints many times relate to an up-front fee.


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Posted April 17, 2009 14:38

Florida lawmakers heard the Realtor voice, and Gov. Charlie Crist backed up the message.

Crist made a surprise appearance yesterday before a Senate committee to throw his support behind a new first-time homebuyer property tax exemption. The Florida Association of Realtors' (FAR) Office of Public Policy was instrumental in obtaining sponsors for the measure.

Crist testified before the Finance and Tax Committee just moments after he met with 10 Realtors who told him they were seeing, according to the governor, a "positive upswing" in home sales in parts of Florida.

"It may not be a blessing for government," Crist said of the ballot measure's potential for reducing property tax revenue. "But I know who we work for - we work for the people.

"And for young couples that may want to get a first home, or for families starting out, or even for someone like me, who never bought a home. And I'd like to buy my first home," Crist added.


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Posted April 08, 2009 17:12

April 8, 2009 - Thanks to record low mortgage rates and declining home prices, 55 million families - half of all U.S. households - can afford today's $200,000 median-priced new home, according to figures released by the National Association of Home Builders (NAHB).

"That's an increase of 17 million households from conditions just two years ago, and the best housing affordability number we have seen in years," says NAHB Chairman Joe Robson. "We are now seeing the first signs that buyers are returning to the marketplace."

Based on data from the U.S. Census Bureau comparing home prices, mortgage rates and minimum income needed to purchase a median-priced home in February 2007 and February 2009, a typical family today can purchase a house with $20,000 less in household income as they save nearly $500 per month on principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.

Single-family permits rose 11 percent in February; new and existing home sales also posted gains; and the huge inventory backlog is being slowly
whittled down. In a survey for Century 21 Real Estate last month, a majority of prospective first-time home buyers - 78 percent - said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.

Another sign that consumers are considering jumping back into the housing market is the growing interest in the $8,000 first-time home buyer tax credit included in the recently enacted economic stimulus package. During February and March, 1.5 million visitors logged on to NAHB's consumer Web site, www.federalhousingtaxcredit.com, to learn more about the tax credit. 

Further, a new survey commissioned by Move Inc. found that nearly 20 percent of those who plan to purchase a home this year are doing so to take
advantage of the tax credit, which expires at the end of November.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

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Posted February 24, 2009 23:16

Find something to do for all ages!
Palm Beach County has events going on all year long. There is always a concert series and festivals, guided tours and nature exhibits, or greenmarket to visit.

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Posted February 13, 2009 00:21

DETROIT - Feb. 12, 2009 - Ralph R. Roberts, consumer advocate and spokesperson for Federal Loan Modification Law Center, LLP, released a list of the top 10 steps homeowners can take to negotiate an affordable loan modification. The following steps apply to homeowners working directly with a lender, as well as to those teaming up with an attorney or alternative third-party representative.

1. Come clean. It can be tempting to bend the truth when you are trying to convince a lender to approve a loan modification. Only by laying all your cards on the table and disclosing the truth can you begin to develop and implement solutions that will put you back on the path to long-term financial health.
2. Understand your lender's point of view. As far as your lender is concerned, it all boils down to money. You are most likely to be approved if you can show modifying your loan will cost the lender less than a foreclosure.
3. Keep a cool head. Expressing anger toward your lender puts you in an extremely disadvantageous position. For example, your lender may decide that you are unreasonable and that foreclosing would be less costly overall.
4. Give them what they need. In order to expedite the situation, find out exactly which forms you need to fill out and which documents your lender needs to process your application. Make sure you provide everything to your lender or representative in the manner specified.
5. Ask for what you want. Before meeting with your lender, make sure you spend some time figuring out what you want and need. For example, how much can you realistically afford to pay each month?
6. Let them do their job. Loan modifications typically take between 30-90 days from start to finish. During this time, avoid the temptation to micromanage the process. To alleviate unnecessary anxiety, ask your lender for an anticipated timeline.
7. Get your financial house in order. Put a tracking system in place today and start developing a budget to ensure you are not spending more money than you are earning.

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Posted February 02, 2009 19:58

Find something to do for all ages!
Palm Beach County has events going on all year long. There is always a concert series and festivals, guided tours and nature exhibits, or greenmarket to visit.

“Rhythm & Roots” Exhibit
1/5/2009 - 3/29/2009
Spady Cultural Heritage Museum
170 NW 5th Avenue; Delray Beach, FL 33444
The “Rhythm & Roots” Exhibit is an exhibition dedicated to the music and musicians of the South. While the South has a rich tradition of deeply rooted music forms – Appalachian, Blues, Bluegrass, Cajun, Country and Gospel among them – Rhythm & Roots is a tribute to all of the musical forms that come together to create the Southern sound.
Visit Website

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Posted January 28, 2009 15:45

State Farm announced today that it's pulling out of the property insurance market throughout Florida. Regulators have 90 days to approve the move, and State Farm cannot drop policies for at least 180 days after that, so current customers face no immediate threat. Florida Insurance Commissioner Kevin McCarty calls the move disappointing but not a surprise.

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Posted January 19, 2009 10:30

Since 1999, the Florida Association of Realtors (FAR) has sponsored a Scholarship/Essay Contest for High School Seniors who reside in Florida. Seniors who plan on continuing their education at a college, university, technical school or some other institution of higher learning are eligible. Children of licensed real estate practitioners are not eligible, nor are children whose parents or guardians are employed by any local Realtor board/associations or by the Florida Association of Realtors®.

Students turning in the first-place winning entry in each of FAR's 13 Regional Districts will receive a $1,000 scholarship award. The 13 student winners will go on to compete to win three $5,000 FAR scholarships on a state level, giving each of the state grand prize winners a total of $6,000 in scholarship funding. FAR will award a total of $28,000 in scholarship funding this year to help young people realize their college dreams.

Each year, FAR sends copies of the scholarship/essay contest application kit and other materials to senior high schools' guidance offices throughout Florida. You may also download the materials on the Floridarealtors.org site.

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Posted January 08, 2009 23:09

ORLANDO, Fla. - Jan. 8, 2009 - United Van Lines tracks its moves each year and compares the number of people moving into each state versus the number moving out. In 2008, the company found Florida to be "balanced," meaning the number of inbound and outbound movers was almost equal. The Mid-Atlantic states saw growth, however, while states to the north saw decreases.

The Mid-Atlantic and Western regions
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Posted December 30, 2008 09:34

Find something to do for all ages!
Palm Beach County has events going on all year long. There is always a concert series and festivals, guided tours and nature exhibits, or greenmarket to visit.

New Years Celebrations
12/31/2008 - 1/1/2009
The Colony Hotel
155 Hammon Avenue; Palm Beach, FL 33480
The Colony offers two wonderful ways to ring in the New Year. Choose between the Polo Steakhouse cocktails, dinner and dancing or Royal Room Cabaret cocktails, dinner and show. Reservation
7:30 p.m.

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Posted December 08, 2008 18:15

Floridians will see a 45-day home foreclosure grace period during the 2008 Holiday Season.  Last week, Governor Crist joined officers of the Florida Banking Association and the Florida Credit Union League to announce the start of the Holiday foreclosure relief period.

Financial institutions across the Sunshine State volunteered to participate in the 45-day period, agreeing to stop filing new foreclosure petitions and scheduling foreclosure sales for homestead properties.  Non-homesteaded properties, businesses and second homes are not included.

Over 150,000 Florida households were impacted by the foreclosure process in October. Fannie Mae and Freddie Mac recently made a similar announcement, suspending foreclosure and eviction proceedings from November 26, 2008 through January 9, 2009.

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Posted December 05, 2008 10:20

Find something to do for all ages!
Palm Beach County has events going on all year long. There is always a concert series and festivals, guided tours and nature exhibits, or greenmarket to visit.

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Posted December 03, 2008 09:20

The town council approved Harbourside, a proposed  waterfront development that includes retail, offices, boat docking and a five-story hotel with arooftop bar and pool on December 2, 2008. Harbourside will be located on the 8 acres on the northwest corner of Indiantown Road and U.S. Hwy. 1 in Jupiter.  The project is 300,000-square-feet to include shops, offices and restaurants with outdoor seating. Plans call for 30 private and public boat slips, a water taxi stand and a 210-room hotel.

Construction is expected to begin this spring and completed in 2011, according to spokesperson for developers Allied Capital and Development. Riverwalk, a waterfront walkway from the beach to Jupiter Inlet, must be complete before the project gets it first certificate of occupancy.  The Town of Jupiter will be able to close the roadway alongside Harbourside on the Intracoastal Waterway up to two days a month for town events, such as street festivals or art fairs. About 2,500 square feet is reserved for cultural use and that must be approved by town. Jupiter could approve the Burt Reynolds museum to move in since the current building is to be demolished.

The plan calls for demolishing the museum building and replacing it with a five-story parking garage to accommodate over 1000 cars. Parking would be free for patrons with parking tickets validated by Harbourside businesses. Parking would also be free for town events. This approval brings to an end the many projects that have been rejected over the past decade.

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Posted November 29, 2008 11:23

Holiday Boat Parades have been a tradition in Palm Beach County for almost 20 years. The Marine Industries Association of Palm Beach County decidedthat it was time to give this outstanding Palm Beach Tradition new life and direction.

Viewing areas include waterfront restaurants, parks, marinas, the North Palm Beach Country Club and Jupiter Riverwalk, thousands of spectators now greet boaters as they again light up the waterway for the holiday season!

Click on link below to see the time and routes.

http://www.pbboatparade.com/
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Posted November 13, 2008 18:13

Good Faith Estimates will be standardized effective Jan. 1, 2010, under rules issued by the U.S. Department of Housing and Urban Development (HUD) yesterday. The change, HUD says, will save consumers $700 at the closing table by making it easier to compare mortgage offers from competing banks.

"It has been a long road, but today we can finally announce a better way to buy homes in America," says HUD Secretary Steve Preston. "Consumers need and deserve to know what they're getting themselves into before they sign on the dotted line. After carefully considering the concerns of consumers and the different businesses in the housing sector, we have developed an approach that empowers the average family to shop for the most appropriate loan to meet their needs."

Last March, HUD proposed reforms to the longstanding regulatory requirements of the Real Estate Settlement Procedures Act (RESPA), and last May, HUD extended the rule's comment period. HUD received approximately 12,000 comment letters following the proposal of its new RESPA rule. In considering those comments, HUD says it made considerable modifications. For example, HUD originally proposed that settlement agents read a closing script at the closing table and that a copy be provided to borrowers. HUD ultimately discarded the script in favor of a new page on the HUD-1 Settlement Statement that allows consumers to compare their final loan terms and closing costs with those listed on their Good Faith Estimate.

The new Good Faith Estimate should clearly answer the following consumer concerns:

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