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Your Bi-Weekly Newsflash from
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A quick dash of news you need to hear
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Data Suggests More Moving Out of Florida
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 Once the dream of many a retiree and young person seeking to live in
paradise, the prospect of living in Florida seems to be less attractive
in the current economic downturn.
Data from moving companies
and the Florida Department of Motor Vehicles suggest that fewer people
are moving to the state and, at the very least, an equal number of
residents are moving out.
Atlas Van Lines moved a total of
5,277 households into the state in 2008, but moved out 6,367
households, according to the moving company's migration study.
Those numbers compare with the 9,069 households moving into Florida and
the 7,180 moving out in 2004, when the state's real estate market was
just heating up.
Locally, 43 households moved out of Bradenton
and 19 moved in between Jan. 1 and June 22 of this year, according to
Atlas officials.
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Investor Report: Condo Loan Rules
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 FHA has come out with its long-awaited rules on condominium loans,
and they're a mixed bag for investors, second home and other buyers and
sellers.
On the one hand, the rules allow lenders a lot of more flexibility
in reviewing condo project eligibility and documentation. That's good
-- it should allow more lenders to increase their condo activity in the
red-hot FHA segment of the market.
On the other hand, the agency is imposing a number of important restrictions. Here's a quick overview of the rules:
Units in condo hotels are prohibited. Ditto for units in time
share or "segmented ownership" projects, houseboat condo developments,
and projects where there are multiple dwellings inside single
condominium units.
Read on...
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