There has been some good news that should help people thinking about purchasing Florida Keys real estate in 2008. The following are two article recaps about mortgages and real estate tax changes that will help you buy that home in Paradise.
Proposed mortgage plan could aid marketsWASHINGTON – Jan. 25, 2008
– A component of the government’s tentative economic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher-priced housing markets.The package agreed upon by Democratic and Republican members of the House would allow government-sponsored Fannie Mae and Freddie Mac to buy mortgages up to 75 percent more expensive than the current $417,000 limit. The Senate and White House still must sign off on the proposed stimulus plan, which also includes tax rebates for Americans.Raising the limit on so-called conforming loans will allow a larger pool of borrowers to find lower rates when buying a new home or refinancing an existing mortgage.“It’s good for homebuyers who have prime credit, have some money to put down and can meet tougher underwriting standards that are in place now,” said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication.
"Yes on Amendment 1" passed for the following reasons:
• People who have felt trapped in their homes – unable to size up or scale down – can now afford to sell.• Keeps Save Our Homes while cutting taxes and expanding the homestead exemption for the first time since 1980. Caps non-homestead property assessments at 10 percent annually.
There are currently plenty of homes for sale at very good prices with motivated sellers.
Please let me know what your looking for and I will help you find just the right property.
Look forward to hearing from you. As always, I appreciate your feedback.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 or 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
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