Wednesday, October 7, 2009

10/07/2009 EarlyBird News

---------- Forwarded message ----------
From: Florida Realtors <earlybird@email.floridarealtors.org>
Date: Wed, Oct 7, 2009 at 3:06 PM
Subject: 10/07/2009 EarlyBird News
To: john@johnjrose.com

EarlyBird News

Daily Briefing: Wednesday, October 7, 2009
A service for members of Florida Realtors®

TODAY'S TOP STORIES

Court rules against short-sale commission cut

A new quasi-federal rule forbids some commission cuts in a short sale; separately, an Iowa court opposed last-minute cuts. Read more.

Fla. DCA: Local cities keep growth rules

In Senate testimony, DCA chief Tom Pelham said a Fla. law does not override local growth management laws. Read more.

Recession takes $730M of local tax revenues

The decline in property values continues to impact local governments; 2/3s of counties report lower tax collections. Read more.

Fla. panel seeks answers on rates, solvency

The state's insurance commissioner testifies some companies would go out of business after a major hurricane strike. Read more.

Private investors dominate foreclosure market

A federal program to acquire vacant property for rehab has a problem: Investors shut it out by buying the discounted homes first. Read more.

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Americans on the move choose college towns

Four Fla. cities made a list of top cities in number of new residents - Cape Coral, Lakeland, Palm Bay and Bradenton. Read more.

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Overlooked FHA Loan Ideal for Foreclosure Buyers

This article from RealtyTrac’s monthly newsletter, RealtyTrends, has been sent to you by john rose

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http://www.realtytrac.com/News-Trends/newsletter/Current.html?Article=1

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Daily Real Estate News

---------- Forwarded message ----------
From: REALTOR(R) Magazine Online <NAR@newsletters.realtor.org>
Date: Wed, Oct 7, 2009 at 2:24 PM
Subject: Daily Real Estate News
To: john@johnjrose.com

If you have trouble reading this e-mail click here.



October 7, 2009


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	FHA Defends Role in Recovery Federal Housing Administration Commissioner David Stevens says the government insurer poses little risk to taxpayers and is underwriting far more lower-risk borrowers compared to a few years ago. Read more >

	Mortgage Applications Rise as Rates Fall Refinancings were up 18 percent last week, the highest level since May, while purchase activity jumped nearly 13 percent, according to the Mortgage Bankers Association. Read more >

	Office Vacancy Rates Still Soaring Nationwide vacancies reached a five-year high of 16.5 percent in the third quarter, while rents continued to decline, according to Reis Inc. Read more >

	Builders Win Right-to-Repair Case Home owners must initiate repair process in construction defect cases before filing lawsuits, according to California Superior Court ruling. Read more >

	Buyers Are Cutting the Fluff, Architects say More favor energy-saving features, including better insulation and solar panels over high-end kitchens and baths, according to an American Institute of Architects survey. Read more >

	Starwood to Acquire Distressed Condos Investment group to take over 112 construction loans, two-thirds of which are in default or foreclosure. Read more >

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