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Hello
Everyone!
Here is the latest Real Estate news
from Florida and around the Nation. As always, please feel
free to call or email me any time, even if it's just to keep in touch.
Remember, Real
Estate is a sound investment at any stage of your life and having the right
professional to help you along in the process is imperative. |
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Legal Robin Hood fights
foreclosure giants
Fla. lawyer kick-started
meltdown by questioning paperwork, getting depositions and posting
discoveries on his website.
Read more.
Fewer get modified
mortgage
The number of homeowners
in the federal bailout program fell to its lowest level in nearly a year.
Read more.
Florida existing home median price: $133,400
Florida existing condo median price: $83,400
MyFlorida.com –
Florida's official state Web site – lists national and state resources for
insurance and emergency contacts. Also, download the state's
Get a Plan
checklist.
The 2nd Annual
Cocoa Beach Air
Show is happening Oct. 30th and 31st. |
(pronounced PIE-THA)
Visit my Website
www.jmayer.info
Where you will find all the resources and
information to make the right Real Estate decisions.
Pytha Realty Group,
1175 N Courtenay Pkwy, Suite 4A, Merritt Island, Fl.
Call 321-799-8334
Cell 321-213-4831 EMAIL
Visit my BLOG Serving the
entire Space Coast in Brevard County. Specializing in Cocoa Beach,
Cape Canaveral and Merritt Island. |
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Florida’s consumer
confidence gets big boost
GAINESVILLE, Fla. – Oct. 27, 2010 – Historically
low interest rates, bargains on condominiums and a moratorium on foreclosures
likely caused a six-point jump in Florida’s consumer confidence in October to
74, its highest level in six months, according to a new University of Florida (UF)
survey.
“Much like the spike in April’s consumer confidence, this increase was not
expected,” says Chris McCarty, director of UF’s Survey Research Center in the
Bureau of Economic and Business Research. In April, home appliance rebates
sparked the increase, he says.
All five of the index components rose in October, with the biggest increase in
perceptions about whether it’s a good time to buy big-ticket consumer items,
which jumped 10 points to 85.
Perceptions of personal finances now compared with a year ago rose six points to
55, while perceptions of personal finances a year from now rose seven points to
85. Perceptions of U.S. economic conditions over the next year rose five points
to 68, while perceptions of U.S. economic conditions over the next five years
rose two points to 78.
“As we get closer to the holiday season, consumers should expect increases in
both gas and food prices, which will likely affect consumer confidence and
holiday sales,” McCarty says. “Given the large increase in confidence this
month, I expect a slight decline next month, barring some significant change in
the economic climate.”
The rise in confidence this month was particularly marked among seniors. The
index rose only two points for those under 60, but 11 points for those 60 and
older.
“This is an odd result when the biggest news for seniors during October was the
announcement on Oct. 15 of no cost-of-living adjustment to Social Security,”
McCarty says. “Since then, there has been a push among President Obama and some
in Congress for a one-time payment of $250 as compensation.”
It’s also possible that the midterm election cycle could somehow affect senior
optimism, McCarty says. “It is not unusual for the potential viability of one
candidate … to translate into one of the index components, although that is
typically one of the two components measuring perceptions of U.S. economic
conditions.”
A likely cause of an increase in consumer confidence overall is the effect of
the temporary moratorium on foreclosures and the possibility of delaying
foreclosures as a result of the news that banks may be vulnerable in not
following procedures in the filing of paperwork when buying and selling
mortgages.
The increase in confidence comes amid mixed economic news about employment,
housing, tax revenue and tourism revenue. The latest unemployment figures, which
were just released, show Florida’s jobless rate in September was up to 11.9
percent from a revised August figure of 11.8 percent – far above the national
unemployment rate of 9.6 percent.
“Although housing prices have been declining, condo sales have been on the rise
due in part to bargain-buying by those with cash,” McCarty says. Florida’s
number of tourists and the resulting tourism revenue are also outpacing last
year.
“My thinking had been that consumer confidence would remain mired in the upper
60s and low 70s until there was a clear path to economic recovery,” McCarty
says. “While I still believe that to be the case, the confidence index for
Florida has been somewhat erratic since April.”
The research center conducts the Florida Consumer Attitude Survey monthly.
Respondents are 18 or older and live in households telephoned randomly. The
preliminary index for October was collected from 403 responses.
© 2010 Florida Realtors®
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Tax
Foundation says Fla. welcoming to business
TALLAHASSEE, Fla. (AP) – Oct. 27, 2010 – The
Tax Foundation says Florida again has the nation’s fifth best tax climate
for business in 2011.
The nonpartisan, nonprofit organization that monitors government fiscal
policy issued its annual business climate index Tuesday.
While some states are up and others are down, Florida has remained steady in
fifth place for six years in a row.
A key factor is Florida’s lack of a personal income tax, which gives the
state a top ranking in that category.
Florida also ranks 15th in corporate taxes, 30th in sales taxes, third in
unemployment compensation taxes and 28th in property taxes, according to the
Washington, D.C.-based organization.
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