Longer processing times and the backlash against banks’ speed-dialed foreclosures have more to do with the brighter number than an actual recovery in the housing market.
real estate
Florida Home Sales Rise in 1Q, Home Values Tumble Again
Florida home sales rose 13 percent in the 1st quarter, led by a glut of bank-owned homes on the market, but housing prices continued to fall, dampening hopes that property values have bottomed out.
Loan Modifications: How Banks Require Struggling Homeowners to Waive Rights
Mortgage loan modification scams: Regulators ban the practice, but banks are forcing homeowners struggling to save their home to sign away their right to sue.
Property Tax Overhaul Passes House: Breaks For New Home Buyers, Business, Snowbirds
First-time home buyers would get a 50 percent property tax break on the value of their home. Voters would decide whether to cap property tax assessment increases for commercial properties at 5 percent.
New Home Sales Rebound From Record Low, But Sales Still 22% Lower Than Last Year
March new home sales post an 11 percent increase over February, but February had posted a record low, and March’s 300,000 sales volume is still 22 percent below sales in March 2010.
Growth-Management 2.0: Local Government Whims Sprawl Over State Oversight
Republicans have complained for years that growth management rules slow growth in the state. A glut of empty homes suggests otherwise. Local governments will be empowered to take advantage of far more lax growth rules.
Property Tax Reform: 50% Exemptions, Breaks for Investors, Losses for Local Governments
Supporters of the overhaul say it’ll fill up empty homes. Critics say it’ll also slash local government revenue and further shift the tax burden to current residents, exacerbating inequities.
Postcard-Size Economic Development: Palm Coast’s Plea to Absentee Property Owners
The city administration is planning to send postcards to owners of some 18,000 empty lots and 5,400 empty homes as a step to reviving the real estate market, though the city’s development policy is at cross-purposes with filling those empty lots.
From DuPont to ITT: A Century of Marketing Flagler County to Northern Chill Migrants
Marketing Flagler County: Sisco Deen tells the story of the DuPont Land Co.’s — and other development companies’ — marketing schemes to get northerners to buy in Flagler County, long before ITT industrialized the process.
Wrongful Foreclosure: What You Need To Know
Banks and foreclosure defense attorneys disagree on whether errors in the process have caused wrongful foreclosures — but their definitions of what constitutes a “wrongful foreclosure” differ.