Real Estate Market in Wesley Chapel and Tampa Bay Florida

There’s a new disclosure included in the property insurance law(CS/SB 1486) that took effect June 1. Sellers of real property -- commercial and residential -- for which an insurance claim for sinkholedamage was made must disclose to buyers (1) that a sinkhole claim was paid and (2) if the full amount of the proceeds were used to repair thesinkhole damage. The law doesn’t specify the type of disclosure (written or verbal) or when to make the disclosure. Questions? Contact FAR’sLegal Hotline at 407-438-1409.

Federal Reserve Chairman Alan Greenspan said Monday he does not have a good explanation for why long-term interest rates have been falling at a time when short-term rates have been rising, noting that the trend is "clearly without recent
precedent."

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http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n3-06072005

Buyers looking to win bidding wars are signing contracts with "not subject to appraisal" clauses, as many South Florida homes don't appraise high enough but sell quickly anyway.

Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n1-06072005