Condominiums were especially hard hit in the recent market downturn in Florida for a number of reasons.

Therefore guidelines for lending on condos has been significantly tightened by lenders.
Condo loans now have to jump through two hoops. First the borrower has to qualify. Then the condo association has to qualify.

Primary residence and second home condo purchases are also treated differently.

There is no Private Mortgage Insurance (PMI) currently...

If you’ve purchased a home in FL in 2011 and have made that home your permanent residence, you may qualify for a Homestead Exemption, which can save you $$$ each year on your property tax bill.

The Homestead Exemption exempts the first $25,000 of value from ad valorem taxes and another $25,000 on assessed values between $50,000 and $75,000 for a total of $50,000. The 2nd $25,000 in exemption does not apply to all taxing authorities. The exemptions could potentially save a homeowner...

Congress has yet to pass a 5 year reauthorization bill and has instead passed a series of short term extensions. The latest extension authorizes the flood insurance program until May 31st, 2012.

This federal program is critical to homebuyers in many parts of Florida who need flood insurance in order to get financing for their home purchase. It is also important to the thousands of homeowners who’s properties are located within flood zones.

I will keep city-data viewers...

Short sales have been around for several years now, but they take on new significance in 2012 due an upcoming deadline.

First, what exactly is a short sale? A short sale occurs when a property is sold for less than what is needed to pay off any loans on the property. When this debt is cancelled, the lender's obligation by law is to file a 1099-C with the IRS to report the transaction.

Under the Mortgage Debt Relief Act of 2007, if a home was a principal residence in...

The Florida Department of Education has released the rankings of all of the state's 3078 schools, which includes both public and charter, based mainly on FCAT scores.

Elementary & middle school rankings also included factors such as whether schools helped struggling students progress. High School rankings also included graduation rates & how many students passed college level courses such as Advanced Placement. Of course, FCAT scores are not the only criteria parents consider...