Topic: Mortgage Crisis

Groups are hoping to keep funds originally dedicated for affordable housing programs in those programs this year. But lawmakers have swept those funds into general revenue more often than not over the last decade, and despite a large surplus this year the trust fund will be competing with other plans for tax cuts and spending increases in other areas.

Rising flood insurance rates are proving a significant obstacle to the housing recovery in the Tampa Bay area. ... Related Research: Recent reports about the the state of real estate in Florida.

Lawmakers are pushing bills this year to limit local governments' ability to charge transportation concurrency fees, reduce state reviews of local growth management decisions, require written notice to retain subsurface mineral rights and require Citizens Property Insurance Corp. customers to repair sinkhole damage only through approved contractors.

In a $100,000 Web ad buy, the Republican Party of Florida contends former Gov. Charlie Crist was responsible for the state's economic downturn. Meanwhile, Crist hires a campaign manager who was President Barack Obama's national associate political director during the 2012 re-election campaign.

Investment firms have significantly slowed their purchases of cheaper homes, sending sales figures downward in markets initially targeted by investors. ... Related Research: Florida Realtors November 2013 reports, CoreLogic Equity Report - Third Quarter 2013, and RealtyTrac Exclusive Report: Back to Reality with Buy to Rent.

Florida Realtors, meanwhile, predict housing market growth but at a slower pace next year. ... Related Research: Dec. 10, 2013 RealtyTrac U.S. Foreclosure Market Report for November 2013.

A surge in foreclosures of homes valued at $5 million or more might not be all bad, a new report suggests, since it may indicate banks and lenders are more capable of shouldering larger losses. ... Related Research: RealtyTrac Report: "High-End Foreclosures Up 61 Percent Year-to-Date in 2013, Bucking Trend," and RealtyTrac: High End Foreclosures by State, MSA and Zip Code.

Statewide home and condo sales and prices posted positive numbers last month despite strong headwinds from the federal government shutdown and new fears over spiking flood insurance premiums. In areas such as Miami and Tampa, which will be affected most by the sharp increase in flood rates, prices rose but overall sales could be waning. ... Related Research: Nov. 20, 2013 Florida Realtors press release, "Fla.'s Housing Market Continues Positive Track in Oct. 2013."

After declining this summer, initial foreclosure proceedings swelled in October and rose 36 percent in Florida.

About 8 percent of all sales of single-family homes and condos for the 2012-2013 fiscal year were purchased by international buyers. ... Related Research: Oct. 4, 2013 Press release, "Florida Realtors®: International Sales Key for Fla.'s Housing Market."

Banks and lenders have been slow to take advantage of a new law designed to speed up the foreclosure process. If initial foreclosure proceedings continue to fall short of projections, it could affect funding for the courts, which rely in part on fees from foreclosure filings. ... Related Research: Recommendations of the Foreclosure Initiative Workgroup, Foreclosure Backlog Reduction Plan for the State Courts System, a backlog status report and court revenue projections.

Sales and prices of existing single-family homes and condos shot up from July 2012, continuing Florida's steady rebound from the housing bust last decade. ... Related Research: Housing Data and News Release from Florida Realtors.

The Sunshine State's led the nation again in foreclosure filings for July, according to a report from California-based RealtyTrac. But those numbers are driven mainly by scheduled foreclosure auctions and bank repossessions, and initial default notices are down.

Florida's economy is projected to get a lift in 2014, but the high growth experienced before the Great Recession will remain out of reach, according a report from a renowned UCF economist. ... Related Research: UCF Institute for Economic Competitiveness: Florida & Metro Forecast July 2013.