PROPERTY TAXES

Gov. Jeb Bush appointed a 15-member committee Wednesday to make
recommendations on how to curtail increases and remove inequities in
Florida's property taxes. Realtors are represented as well as
homebuilders, appraisers, business leaders and legislators.

________________________

DEVELOPMENT

Citizens Property Insurance, the state-run insurer of last resort,
scheduled a special board meeting for Friday to discuss whether
it should resume writing insurance to cover construction projects.

__________________________

INTEREST RATES

Appearing before Congress yesterday, Federal Reserve Board Chairman
Ben Bernanke said that a slowing economy would reduce inflation
without a recession even in the face of record oil prices. He also implied
that the central bank's tightening of monetary policy is either at or near
an end after 17 straight interest-rate increases.

__________________________

HOMEBUYERS

Too often, renters look at their current monthly rent payment, compare
it to the cost of owning a home, and decide the latter is "something
I can't afford." But the financial advantage of homeownership, from
property appreciation to income tax deductions, makes renting more
expensive, and a new brochure published by NAR explains that fact
to renters.

__________________________

FORECLOSURES

The number of homes entering some stage of foreclosure declined in
June both nationwide and across Florida, dropping to their lowest levels
of the year, according to a national survey released Tuesday. Florida's
rate of foreclosure in June -- one new filing for every 849 households --
was the eighth-worst rate in the nation, but an improvement from one
year earlier.


**********************************************************