Brokers crossing over

Brokers crossing over: "WASHINGTON -- Aug. 29, 2006 -- A growing number of residential real estate brokers are expanding into the commercial arena.

National Association of Realtors spokesman Lucien Salvant says brokers are seeing business decline in the residential sector as home sales slow, but the commercial sector is recording gains.

'The grass is a little greener, and the money is, too,' notes Salvant. The Realtors Commercial Alliance has seen its membership roster more than double over the past five years, and NAR recorded a 62-percent jump in membership over the same time span."

New home sales drop 4.3 percent in July

New home sales drop 4.3 percent in July: "New home sales drop 4.3 percent in July
WASHINGTON (AP) -- Aug. 24, 2006 -- Sales of new U.S. homes dropped in July by the largest amount since February while the inventory of unsold homes climbed to a record high.

Piling on more proof that the housing boom is over, the Commerce Department reported Thursday that new home sales fell by 4.3 percent last month to a seasonally adjusted annual sales pace of 1.072 million units. The decline was the largest since an 11.5 percent plunge in February.

Sales of both new and existing homes set records for five consecutive years as the housing industry enjoyed a boom powered by the lowest mortgage rates in four decades. But rates have been steadily rising this year as the Federal Reserve tightens credit conditions as a way to slow the economy and keep inflation under control.

Analysts expect home sales to drop by some 10 percent this year."

Home sellers rent fine art to lure buyers

Home sellers rent fine art to lure buyers: "NEW YORK -- Aug. 21, 2006 -- Art museums have long rented paintings to art lovers who want the real thing on their walls, but lately, museum officials say they�ve seen a spike in demand from home sellers.

The latest customers are redecorating their homes in hopes of boosting their selling price and ramping up buyer interest.

At the Seattle Art Museum Gallery, revenue has more than doubled in four years, to $1 million, says gallery director Barbara Shaiman. Sales have doubled since 2001 at the Larsen Gallery in Scottsdale, Ariz., in part because of bigger orders for contemporary art from sellers of the area's new, loft-like buildings."

Broward County: Straw vote urged on property tax issue

Broward County: Straw vote urged on property tax issue: "Broward County: Straw vote urged on property tax issue
FORT LAUDERDALE, Fla. -- Aug. 10, 2006 -- It's a question with a predictable answer for homeowners eager to move: Are you afraid that buying a new home would boost your property tax bill?

Broward voters may be able to weigh in with their responses this fall -- but their vote would only be a straw poll of their opinions, not a binding referendum.

Broward County Commissioner Jim Scott wants to ask voters whether they support the concept of 'portability' in property taxes. The idea is to allow homeowners to take the taxable value of their old home and transfer it to their new home, even though the new home might cost more.

'People are really prisoners in their homes, and property taxes are too high. This is going to help,' said Scott, who will ask commissioners next week to put the straw ballot question to Broward voters this fall."

High-flying housing market hitting some turbulence: South Florida Sun-Sentinel

High-flying housing market hitting some turbulence: South Florida Sun-Sentinel: "WASHINGTON -- The ``For Sale'' signs are staying out longer. House prices are easing as sellers try to lure in buyers.

The big question now: Will the nation's five-year housing boom turn into a devastating bust that could derail the overall economy?

``We recognize the risk ... and we are watching it very carefully,'' Federal Reserve Chairman Ben Bernanke told Congress recently.

The Fed's interest rate increases, which have helped push mortgage rates to the highest levels in more than four years, are putting a damper on housing."

Planet Realtor News Item

Planet Realtor News Item: "New property insurers: Undaunted by Florida's climate
MIAMI -- Aug. 9, 2006 -- Wayne Fletcher is accustomed to the typical response he gets when introducing himself as the president and CEO of a start-up insurance company that's about to begin writing property and casualty policies in the state.

'Are you crazy?' people ask him. 'You're in Florida.'

But those skeptics aside, Fletcher is excited that he will see Miami-based Northern Capital Insurance ink its first policy sometime this week. It is one of 24 new insurance companies that have entered the state since the beginning of 2005, according to the Florida Office of Insurance Regulation."