Orlando Florida Real Estate Blog

Here’s what’s new in the world of real estate: ORLANDO, Fla. – Apr. 27, 2007 – The pace for Florida’s existing home sales remained slow in January, though the inventory of homes began to drop in many markets across the state, according to the Florida Association of Realtors® (FAR). Statewide, sales of single-family existing homes totaled 9,382 last month compared to 12,906 homes sold in January 2006 for a 27 percent decrease.

Existing home sales likely will gradually rise this year and into 2008, according to the latest housing outlook from the National Association of Realtors® (NAR). “Home sales may appear weak in comparison with the record surge in 2005, but they will be sustained at historically high levels that are in line with long-term demand,” says NAR Chief Economist David Lereah. As inventory levels become more balanced over the next few months, analysts also expect to see some modest price gains.

TALLAHASSEE, Fla. (AP) – April 13, 2007 The governor has called for doubling the existing $25,000 homestead exemption to $50,000. The Senate plan would also double it but only for first-time buyers of homes valued below $100,000.

Over time, the extra exemption for new homeowners would be replaced by benefits from the existing Save Our Homes Amendment, which limits annual tax increases to no more than 3 percent.