According to a report from the Florida Association of Realtors (FAR), Florida is both a great place to live and work. Naturally, those of us who reside in the Sunshine State already know this to be true. But for many of the folks outside of our wonderful state who might be unaware, here are some interesting things to consider.

Business Climate:

• Florida is the fourth most populous state in the United States, with a large and diverse population.
• The state’s Legislature has made it a priority to not only encourage new businesses and industries to come to Florida, but to provide the kind of supportive climate that entrepreneurs and businesses need to succeed and prosper. Florida Among Top 5 States for Best Business Climate

Tags: Florida, living

For the second month in a row, Florida existing home and condominium sales rose on a year over year basis in October. Thirteen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes; nine also showed gains in condo sales, marking the fourth month in a row that a large number of markets have noted higher sales activity. Pending sales were also up again in many markets indicating stabilization continues to take hold in many areas.

Statewide, sales of existing single-family homes totaled 10,443, up 15% year over year. Existing condominium sales in October totaled 2,956 statewide and were up 5% from a year ago. Falling property prices continue to be the impetus for the increase in sales. The median home price fell 24% to $169,700 and the median condo price fell 23% to $147,600. The median is the midpoint; half the homes sold for more, half for less.

Tags: Florida, real estate, sales

Well it looks like the Feds have finally made a move that is actually going to have an immediate impact on the economy, especially the housing market.

The Federal Reserve announced yesterday that it would purchase Mortgage-Backed Securities (MBS) from Fannie Mae, Freddie Mac and Ginny Mae for up to $500 billion. The purchases will begin next week when the Fed will buy $100 Billion worth of the securities from primary dealers through a series of competitive auctions. Shortly thereafter, they plan to have selected asset managers begin conducting additional MBS purchases up to the $500 Billion total over the next few quarters.

Tags: FHA, Florida, Interest Rates, mortgages

For the first time in three years, both existing home and condominium sales rose on a year over year basis throughout Florida. It was also the third month in a row that a large number of the state’s metropolitan statistical areas (MSAs) noted higher sales activity. In addition, pending sales were up again in many markets indicating stabilization is definitely taking hold in Florida’s housing sector.

Tags: Florida, real estate, sales

Imagine the surprise of over a million Florida residents who received their proposed 2008 real estate tax assessments expecting to see a tax decrease (based on the passage of the Amendment I) and finding out their taxable value has actually may have gone up by 3 percent. How is this possible you say, especially considering almost everyone’s market value has dropped in the last two years? Welcome to the world of the state’s “down-means-up recapture rule”.

The rule was adopted way back in 1995 by the state’s Department of Revenue with the full backing of then Governor Lawton Chiles. In fact, they even went to court when a group of county property appraisers challenged the rule prior to its being passed by the Florida Cabinet. Unfortunately, the administrative law judge hearing the case approved the rule calling it “an appropriate way to apply the Save our Homes Amendment when property values go down (try and figure this one out).

Tags: Florida, real estate, taxes

According to Money Magazine, Collier County in Southwest Florida ranks fourth on its list as one of the best places to live for having a long life. The magazine surveys various regions and identifies areas where residents have some of the longest life expectancies in the country.

Home to the City of Naples, Collier is the largest county (land wise) in the state. Fortunately for its residents, roughly 80% of it is devoted to nature preserves, state parks and recreation areas. In its survey results, Money stated “Collier County is the picture of Florida Leisure” and “almost any kind of water-related activity or exercise is readily available.”

Tags: Florida, living

Florida real estate sales continued to show strength throughout the state in July. In fact, for the first time in two years, statewide single family existing home sales increased year over year in July.

The numbers are quite amazing considering most of the national media pundits would have you believe the State’s housing market has fallen off a cliff. The reality is anything but gloom and doom. Savvy retirees, bargain hunters and international buyers are all recognizing that their opportunity to grab an affordable slice of the Florida lifestyle is happening right now.

Here’s a review of some of the numbers:

Tags: Florida, real estate, sales