Randy's Real Estate Market Update

There are some significant news updates this week that you should be aware of:

Economic Recovery is Modest:

The Federal Reserve said on Wednesday that the economy is recovering modestly. According to the Fed, gains were "small and scattered". The general report of the Southeast part of the United States, known as the 6th District stated that "home sales continued to rebound but at a slower pace. Although layoffs eased, firms are waiting for a surge in sales before hiring."

Property Tax Appeals:

Palm Beach County officials are calling for a statewide change of the fee incurred by property owners who appeal their taxes from $15 to $50. According to the Broward County Value Adjustment Board this is a move to cover the actual cost of the appeal, and as a deterant for property owners to file appeals.

In Broward County, the appeals increased 9% to 32,411 this year.

HUD to add fair housing protection for homosexuals:

The Department of Housing and Urban Development (HUD) is developing regualtions to ensure that gays and lesbians aren't denied access to federally subsidized housing based on their sexual orientation. There's no word on how soon such changes would take effect, however it does appear that the changes are in the works.

As always, Wieder Realty stays on top of all of the latest changes and trends in the South Florida Real Estate market in order to serve our customers better.

Make Wieder Realty your local real estate expert today!