Florida Real Estate News

At the recent Federal Reserve Meeting chairman Ben Bernankie left the federal reserves prime lending rate unchanged for the time being at 2%. Lower inflation rates and a stronger dollar help influence the Fed's recent decision to leave rates unchanged.

Home sales have shown slight increases in 2008 rising by almost 40% over 2007 totals. This is a good sign that the market is on track for a comming recovery. Projected sales totals for Lee County this year is expected to be almost 10,000 units. This hopefully will help curtail the overabundant supply side of the market and lead to further recovery in the up-comming 2009 season.

A recent bill passed by congress will help bolster the huge mortgage lenders Fannie Mae and Freddie Mac. This is well timed legislation for helping out a weak housing market.

Country Wide finacial is undergoing a recent lawsuit in Florida filed by Attorney General Bill McCollum. They have been charged with loose lending practices and failure to render potential borrowers information accurately.

Tuscany Reserve a 470+ acre resort and golf club in North Naples underwent a change of owership recently. AB of Naples bought the popular club for $65 million dollars recently and has plans to continue its operation indefinitely.