Governor vetoes HB 545
TALLAHASSEE, Fla. – June 2, 2010 Governor Crist vetoed HB 545, a Realtor-supported measure that would have repealed an onerous disclosure for coastal property owners.
"We had not heard from one group or individual who was opposed to HB 545, so we are quite surprised the governor would veto the bill and expose hundreds of thousands of property owners to safety issues and higher premiums, and increase legal liability and litigation for sellers and real estate practitioners," said John Sebree, vice president of public policy for the Florida Realtors. "We're talking with the bill sponsor to see if there are enough votes in the Florida House and Senate to override the veto. It's a long shot, but one worth taking considering the damage this bill will cause when it takes effect Jan. 1, 2011."
HB 545 by Rep. Pat Patterson (R-DeLand) sought to repeal the windstorm mitigation disclosure – one of the last remnants of the My Safe Florida Home program, which expired in 2009 due to lack of funding. Effective Jan. 1, 2011, sellers of home located in wind-borne debris regions must provide buyers with the building's hurricane resistance rating and three improvement plans, including costs. Inspectors are not registered with the state and the inspection process has been widely criticized for "widespread, fraudulent and unethical behavior," according to a study by the Florida Commission on Hurricane Loss Projection Methodology.
"The inspection process is rife with fraud and provides buyers with inaccurate information 55-80 percent of the time," said Trey Goldman, Florida Realtors' legislative counsel. "The veto will ultimately result in a less efficient insurance market, higher premiums for everyone and possibly the loss of life if homeowners fail to evacuate during hurricanes because they mistakenly believe their homes are more wind resistant than they really are."
• Posted on Thursday, June 03, 2010 at 16:28 by admin
Printer Friendly
Open House Search Released!
Now you can search for Open Houses online, 24x7, complete with all the MLS data, photos, and more! Just click the link and see what homes will be Open this weekend or next!
• Posted on Wednesday, April 21, 2010 at 08:37 by admin
Printer Friendly
New Shopping For Your Home Loan Booklet
HUD has a released a new booklet for consumers, "Shopping For Your Home Loan." It's a great resource - dowload your copy here
• Posted on Monday, December 28, 2009 at 08:57 by admin
Printer Friendly
New HAFA Guidelines
The U.S. Treasury Department has released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. For details, click here
• Posted on Monday, December 07, 2009 at 09:05 by admin
Printer Friendly
Chinese Drywall Forms Available
CHINESE DRYWALL FORMS NOW AVAILABLE
Two forms are available from FAR to assist Realtors working with buyers and sellers of property potentially affected by Chinese drywall:
Chinese/Defective Drywall Addendum to Contract (CDA-1)
This is a form to be used if a buyer desires to perform a Chinese/defective drywall inspection. The Addendum allows the buyer to cancel the contract if the inspection reveals the presence of Chinese/defective drywall and the cost to repair/replace the defective drywall or damage resulting from the defective drywall exceeds a predetermined amount.
Seller's Real Property Disclosure Statement (SRPD-4)
FAR modified paragraph 5 of this form with language addressing Chinese/defective drywall issues. Sellers may use this form to disclose facts relating to the condition of the property and to disclose defects or facts that materially affect the value of the property but that are not readily observable by or known to the buyer.
Both forms are available in the Forms Basic and TransactionDesk areas of floridarealtors.org. As always, please direct legal questions to FAR's Legal Hotline: 407-438-1409.
• Posted on Tuesday, April 28, 2009 at 16:37 by admin
Printer Friendly
New $8,000 Tax Credit for 1st Time Homebuyers
Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
See the details
• Posted on Sunday, February 22, 2009 at 10:31 by admin
Printer Friendly
New Condo Form Available
Beginning Jan. 1, 2009, condo sellers (who are not developers) must provide prospective buyers a disclosure from the Florida Department of Business and Professional Regulation (DBPR) which details the rights and responsibilities of condominium boards and unit owners, voting rights, meeting notices and other governance matters. This disclosure, known as the Condominium Governance Form, is now available in PDF form here
Also note that two standard business forms -- the FAR Residential Sale and Purchase Contract: Comprehensive Addendum (FARA-10) and the Comprehensive Rider to the FAR/BAR Contract for Sale and Purchase (FBCR-10) -- have been updated to reference the 2009 disclosure requirement. You'll find the newest versions of these forms on floridarealtors.org. From the home page, select "Forms Basic" or "Forms Online Gold," or login to the Transaction Desk™. Questions about the disclosure? Please contact FAR's Legal Hotline at (407) 438-1409.
• Posted on Thursday, December 18, 2008 at 14:16 by admin
Printer Friendly
News-Journal To Publish Real Estate Tabloid
Starting in the spring of 2009, The News-Journal will begin publishing a new product called "The REsource." Designed in partnership with the Daytona Beach Area Realtors and the Volusia Home Builders Association, this new REsource will give you a way to get reach over 219,000 readers in Volusia and Flagler county every other week.
This new section will publish every other Friday appealing to all readers on the day they are making their weekend plans. Most importantly, REsource will feature positive and informative articles written by the DBAAR and VHBA. For rates and information on why this is the most cost effective Real Estate REsource on the market, please contact your News- Journal Account Executive.
For details, click here
• Posted on Wednesday, November 26, 2008 at 11:09 by admin
Printer Friendly
Neighborhood Stabilization Program Announced
WASHINGTON - U.S. Housing and Urban Development has allocated a total of $3.92 billion to all states and particularly hard-hit areas trying to respond to the effects of high foreclosures. HUD's new Neighborhood Stabilization Program (NSP) will provide targeted emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. Volusia County is set to get $5.2 Million of the $541 Million allocated to Florida. For more information click here
• Posted on Friday, October 03, 2008 at 16:34 by admin
Printer Friendly
Daytona Ranks in Top 100 Best Performing Cities
The Milken Institute has just released their 200 Best Performing Cities of 2008……Daytona Beach ranked in the top 100 at #92. Metro-Orlando’s overall rating is #11; and Jacksonville was #39. Others (including listings for both large and small cities) can be accessed here
• Posted on Tuesday, September 30, 2008 at 14:04 by admin
Printer Friendly