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ST. JOE CO.
St. Joe, Florida's largest private landowner, will cut back on jobs and
reorganize its corporate structure. In the reorganizations, St. Joe will
consolidate three of its former major units, which focused on residential
projects, commercial and land sales. Instead, the company will break
into units focusing on geographic regions.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n1-08142006
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PROPERTY INSURANCE
Condo living is quickly becoming more expensive as insurers pull out of
the condo association market. Since April, the number of condominium
associations covered by the state-sponsored insurer of last resort has
gone from 3,500 to 5,000, and new applications are coming in at a clip
of 250 each week.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n2-08142006
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HOME EQUITY
A home has become the primary asset for more Americans, and some
economists warn that many homeowners are jeopardizing their
retirement savings by continuously tapping into their home equity.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n3-08142006
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COMMERCIAL
More developers and landlords have turned multifamily properties
into for-sale condos over the past few years. Thirty-four percent
of multifamily residences sold last year were condo conversions,
according to NAR.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n4-08142006
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ECONOMY
While many analysts seem to agree that the U.S. economy is slowing,
many news reports are focusing on the differing predictions of what's
next: a return to stable, modest growth or a recession.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n5-08142006
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GENERATORS: A SELLING TOOL
Real estate listings in storm-prone areas are starting to boast "built-in
generator" as a perk alongside granite countertops and hardwood floors.
Along the Gulf Coast and beyond, some homeowners invest up to tens
of thousands of dollars in propane- or natural gas-run generators that
automatically click on when the power is out, running major appliances,
even the air conditioning. "It's becoming a status symbol," says Bill
Palmer, a buyer for Home Depot. "You have the ability to make that
huge house run in the wake of a storm." The standby generator industry
grew from a $100 million to a $500 million industry between 2000 and
2005, according to Generac Power Systems, the nation's largest
generator manufacturer. The best customers are wealthy and middle-
class homeowners who have had a multiple-day experience with power
outages. The biggest sellers are powered by natural gas or propane and
cost between $2,500 and $5,000, plus installation, permits and
inspection fees. A recent survey by the Propane Education & Research
Council found that nearly half of residents in hurricane-prone areas
expect to lose power for 24 hours or more during a hurricane season.
A quarter said they owned generators.
Source: The Christian Science Monitor, Amy Green (08/11/2006)
© 2006 FLORIDA ASSOCIATION OF REALTORS®
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LET'S DO LUNCH IN HOLLYWOOD
One month from today, keynote speaker Steve Gilliland will address
Florida Realtors at the Super Sales Day Awards Luncheon on Sept. 14,
part of FAR's 2006 Convention and Trade Expo. The convention runs
from Sept. 13-17, 2006, at the Westin Diplomat Resort & Spa in
Hollywood, Fla. Educational sessions cover everything from technology
to the law, and over 100 trade show vendors will offer products to help
make your business bigger, better and more profitable. Hotel
accommodations at the Westin are going fast and space is already
filled on some nights, though nearby hotels still have accommodations.
For more information, go to http://media.living.net/2006convention or
call FAR at (800) 669-4327.
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