Top 5 Real Estate News in Florida
Home Price Rise including Florida
This spring housing market is responding to an improving balance between real estate supply and demand causing stabilization in house prices. But some markets are seeing much more price increase of 0.6 percent in home prices including Florida because of this year stabilization is occurring without the support of tax credits and in spite of a declining share of REO sales.
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Florida still at top 5 for Best on Taxes
Florida remained very steady for eight years and ranked again in Top 5 for best on taxes on business according to the 2012 State Business Tax Climate Index report from the Tax Foundation that measures each state’s tax climate against every other state that focuses on how a state enhances or harms a state’s businesses. Score and rank it by looking at dozens of state tax provision. The lack of state personal income tax play a big factor of Florida’s ranking.
The National Flood Insurance Program Has Been Extended
5 year-extension of National Flood Insurance Program was recently approved by the Congress. The NFIP identifies flood risks and provide financial assistance to those affected by flood disasters and also helps lessen the financial burden on businesses, individual and government. Without renewal of the program potential home owners in flood-susceptible areas would not be able to close on mortgage. The Federal Emergency Management Agency will also allow the bill to buy a private reinsurance to support the program and to reduce their dependence on Treasury Loans. The program will include important provisions and flood maps that are used to inform property owners and officials of possible flood risk.