Dangerous Realtors! Beware!

TALLAHASSEE, Fla. – March 3, 2009 – The Florida Department of Business and Professional Regulation’s (DBPR) Division of Regulation last week rolled out a statewide unlicensed activity enforcement operation aimed at protecting the public from the dangers caused by unlicensed individuals. Working in 10 regions throughout the state, staff investigators checked over 500 licenses during the operation, which resulted in 86 citations, 41 arrests, 16 cease and desists orders and 15 notices of non-compliance.“Many Floridians may not be aware of the dangers that are associated with unlicensed activity, but I have heard first-hand from consumers and licensees who have been harmed,” said DBPR Secretary Charles W. Drago. “Their stories have motivated us to increase our efforts and find new ways to combat unlicensed activity.”Unlicensed activity threatens the financial and personal safety of consumers, leaving them with little to no recourse. State-licensed professionals are also impacted by unlicensed activity. Unlicensed individuals often underbid licensed professionals, but they usually do not carry workers’ compensation or liability insurance, posing an increased threat to consumers.“All unlicensed activity puts consumers at risk, whether it’s the illegal selling of real estate that could affect the biggest investment that many families ever make – their home – or other kinds of unlicensed activity,” says Cynthia Shelton, 2009 president of the Florida Association of Realtors® (FAR). “This kind of illegal activity hurts the public, harms legitimate business and business professionals, and ultimately weakens our communities. It unfairly taints the reputation of true real estate professionals, who care deeply about their work and the people they serve.“Unlicensed activity is a burden that we all bear – financially, legally, economically and in human resources. We need strong enforcement efforts by DBPR to protect consumers and our state’s responsible business interests,” Shelton says.Unlicensed activity can result in a first-degree misdemeanor criminal charge and a fine up to $5,000. The department’s ultimate goal is to bring people into compliance with the law. Unlicensed activity charges do not bar an individual from obtaining a license. The department’s mission is to license efficiently and regulate fairly, and the overall goal is to ensure that those providing professional services to Floridians obtain a license in order to comply with the law. DBPR uses a variety of tools to help eliminate the practice of unlicensed activity, including working with various agencies, industry groups and local law enforcement, which provides vital support during these operations. The department’s mission is to license efficiently and regulate fairly. DBPR licenses more than one million businesses and professionals ranging from real estate agents, veterinarians, and accountants to contractors and cosmetologists. For more information go to: www.MyFloridaLicense.com.© 2009 FLORIDA ASSOCIATION OF REALTORS®

Do you want to know about foreclosures in Naples FL?

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Naples FL continues to have the best beaches, shopping and resort lifestyle without big FL city traffic.

Is this you???

It is time to get out of winter and in paradise!!

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Mortgage relief maybe as soon as April

Mortgage Relief Coming Soon!

....final details will be released Wednesday, but Donovan said the plan will allow borrowers with big debts from car loans, credit cards and unaffordable mortgages to have their home loans modified to lower the monthly payment, even if they are not in default.Borrowers who owe up to 5 percent more than their home’s current value will be able to refinance, as long as their mortgages are held by mortgage finance companies Fannie Mae or Freddie Mac. At the same time, loan modifications will be available for borrowers who owe up to 50 percent more than their home’s current value, Donovan said.A refinanced mortgage involves a new loan contract, while a modified mortgage involves changes to an existing one, such as extending the amount of time it takes to pay the loan back from 30 to 40 years, or lowering the interest rate.Testifying before Senate lawmakers, Donovan said, “We expect to see large numbers of modifications happen very quickly,” and hope it causes foreclosure rates to drop as soon as April.

source: NAR

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Florida's Existing Home Sales Rose!

Florida's existing home sales rose!

Florida's existing home sales rose 24 percent in January, making it the fifth month in a row that sales activity increased year-to-year, according to the latest housing data from FAR. Florida Realtors also reported a 13 percent gain in statewide sales of existing condos last month. NAR reported that nationwide sales of existing homes - all housing types - fell 5.3 percent last month; at the same time, inventories fell to a two-year low.

Mortgage news!! Good News!!

Today's rates are:

Conforming loans up to $417,000
30 year fixed 5.375%
15 year fixed 4.875%

Jumbo ARMS up to $650,000:
5/1 ARM @ 4.875%*
7/1 ARM @ 5.125%*

*Add .125% to rate for jumbo loans up to $3mmMortgage rates hold below 5.5 percent

The Vineyards Naples FL

Unique opportunity to own an immaculate townhouse in North Naples? premier country club community. This spacious Vineyards property is located in an established gated neighborhood with heated pool just steps away. Master bedroom on first floor and two bedrooms on the second. Brand new Kitchen appliances,paint and granite counters. This property epitomizes the Florida lifestyle and is offered beautifully furnished. Roof and Air conditioner have been recently replaced. Move-in ready or great investment to rent. Act quickly!!

Price $379,000

Size # 3 Bedroom 2.5 Baths

ASKING ONLY $235,000--- NAPLES FL

Gorgeous two story townhouse. The beautiful new walnut flooring on the first floor and up the staircase sets this unit apart from the rest. Stainless steel refrigerator, neutral kitchen cabinets and countertops. The three upstairs bedrooms have been custom painted in warm tones. One guest bedroom has a tailored sitting storage window bench. The master bath has customized crafted shower tile. There is a fabulous recreation area with tennis courts, swimming pool and playground. This lovely home is convenient to 5th Ave. shopping, dining and the beaches. And look at those LOW HOA fees. “Brand new airconditioner 09/15/08”

BRIARWOOD-CLOSE TO OLD NAPLES AND 5TH AVE.

Florida Home Insurance Update! Very Important

Florida Insurance Commissioner Approves State Farm Withdrawal Plan, With Conditions
TALLAHASSEE, Fla. – Florida Insurance Commissioner Kevin McCarty today announced that he has conditionally approved the withdrawal plan submitted Jan. 27 to the Office of Insurance Regulation (Office) by State Farm Florida Insurance Co. (State Farm Florida) and State Farm Mutual Automobile Insurance Co. (State Farm Mutual). Today’s order allows the State Farm companies to move forward with their plan to withdraw from the Florida property insurance market, but stipulates several key conditions with which the company must comply.

Commissioner McCarty’s conditional approval order states in part:
State Farm Florida shall surrender its Certificate of Authority within 30 days;
State Farm shall facilitate the orderly transition of policies from State Farm Florida to the private marketplace in a method directed by the Office and shall not place any of the policies in Citizens;
State Farm shall not interfere with the appointment of its agents to other private insurance companies to place State Farm Florida policies directly with those other private insurance companies;
In an effort to minimize the impact of market disruption on all of its policyholders, State Farm shall issue pro-rata refunds of premium to any policyholder seeking to voluntarily cancel or non-renew a policy and will not short-rate the return premium for any policy in any line, whether it be automobile, boat, or property insurance coverage;
State Farm shall consider all offers to buy or assume all or part of its business. A copy of any such offer shall be provided to the Office within 48 hours of its receipt.

“I could not approve the withdrawal plan State Farm submitted, because, as Florida law states, I believe that plan was ‘hazardous’ to State Farm policyholders and to the public,” said Commissioner McCarty. “State Farm intended to dump all of its customers into Citizens; and that is not acceptable for their customers or for the people of Florida. We have private companies that are eager to grow their businesses, and I expect State Farm to fully cooperate in facilitating a smooth transition of their policyholders to those companies.

The law governing the withdrawal of an insurance company and the Office’s review of a withdrawal plan can be found in section 624.430(2), Florida Statutes.

State Farm now has 21 days to review Commissioner McCarty’s Order and to decide whether to abide by it or to request an administrative hearing by filing a petition with the Office.

A detailed chronology of all events associated with recent State Farm issues is available on the Office Web site, www.floir.com and in the Office’s Jan. 12 news release announcing Commissioner McCarty’s Final Order denying State Farm’s 47 percent average statewide rate increase. About the Florida Office of Insurance RegulationThe Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The Office protects Florida consumers through regulatory oversight of: insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. For more information about the Office, please visit www.floir.com. If you would like information about the Cover Florida Health Care Access Program, please go to www.coverfloridahealthcare.com.