Report: U.S. now a steal as a place to do business

NEW YORK (AP) – March 28, 2008 – Thanks to the weakened dollar, the U.S. has leapfrogged France, Britain and other European countries as a cheaper place to do business.

A new study released Thursday by the auditing and consulting firm KPMG shows that the U.S. moved up on the list of places around the world that are the most cost-efficient. Researchers compared 136 cities in 10 countries in North America, Europe and Asia, but did not include fast-growing China.

Mark MacDonald, the global director of KPMG Competitive Alternatives, said the survey authors found the U.S. to be more cost competitive than they’d ever seen because of the plunging dollar.

Pending sales is lone bright spot in struggling market

Jerry W. Jackson Sentinel Staff Writer

March 31, 2008

Looking for any positive signs they can find in this historic housing downturn, local Realtors are focusing right now on the growth in pending sales -- one bright spot.

The Orlando Regional Realtor Association reported that new pending contracts rose from 1,239 in January to 1,537 in February.

Dusty Sutton, broker-owner of Sutton and Sutton Realty in Orlando, said the March numbers "will be up again, I can promise you, based on what we are seeing. They are up all over the state."

Panel considers property tax plans

TALLAHASSEE, Fla. – March 17, 2008 – Florida's best chance of voting on another property-tax revision this year happens Monday, when the state tax panel that has the ability to put constitutional amendments directly on the November ballot votes on three proposals.

If the 25-member Taxation and Budget Reform Commission approves any of the three ideas and voters agree, it would become the largest tax change in Florida history since legislators passed the failed services tax 20 years ago.


Friday, March 14, 2008

More Baldwin Park retailers struggling with rent, slow biz

Property owner evicted four tenants for non-payment, court records show.

Orlando Business Journal - by Anjali Fluker Staff Writer

Mark Greenberg doesn't bother to go to work before 1 p.m. or so.

Even after that, the co-owner of Wine­Styles store and bar in Baldwin Park says business is so slow that it's tough to pay the rent.

He's one of a growing number of tenants in the Baldwin Park Village Center struggling to make ends meet in the high-end community's central business district.

Surprise fall in US inflation offers hope

By James Politi, Andrew Ward and Krishna Guha in Washington

Published: March 14 2008 13:41 | Last updated: March 14 2008 19:54

A surprise fall in inflation last month on Friday offered a glimmer of hope that price pressures could be softening in the face of economic weakness, giving the Federal Reserve greater scope to cut US interest rates.

The news came as president George W. Bush sought to calm nerves over the deteriorating economy by voicing optimism about the long-term outlook. Mr Bush assured the public that the Federal Reserve and Treasury Department would take “appropriate steps” to promote financial market stability.

Associated Press
Fed Takes New Steps on Credit Crisis
By JEANNINE AVERSA 03.07.08, 10:43 AM ET

WASHINGTON -The Federal Reserve is taking bigger steps to ease the nation's credit crisis, including increasing the amount of loans it plans to make available to banks this month to $100 billion.

The Federal Reserve announced Friday that it will boost the size of auctions planned for March 10 and March 24 to $50 billion each. That is up from the $30 billion limits it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending to their customers.

Sanford site eyed for mixed-use redevelopment

Project could be catalyst for others along U.S. Highway 17-92.

Orlando Business Journal - by Dan Ping Staff Writer

ANFORD -- A former building supply store may soon become the site of the first mixed-use redevelopment along Seminole County's U.S. Highway 17-92 corridor.

Universal FML Investments LLC bought the vacant Scotty's Home Center building in the 700 block of French Avenue in Sanford for $1.2 million during a Jan. 24 auction conducted by Karlin Daniel & Associates Inc.

Scott Partnership Architecture Inc. of Maitland will design a dense mixed-use project on the 3.1-acre site, but details on the size, cost and components of the project haven't been determined yet, says Kendra Cassel, business development director for Scott Partnership. "We literally just started working on the project."

Government to lift Fannie, Freddie limits

WASHINGTON – Feb. 28, 2008 – The federal regulator for Fannie Mae and Freddie Mac said Wednesday it would lift restrictions later this week on the amount of mortgages the government-sponsored companies can hold on their books.

Shares of Fannie and Freddie rose even after Fannie reported a nearly $3.6 billion loss in the fourth quarter of 2007 amid rising home-loan delinquencies.

The Office of Federal Housing Enterprise Oversight, acting after Fannie Mae published audited financial results for 2007 on Wednesday morning, said the two companies’ mortgage investment limits, currently at around a combined $1.5 billion, would be lifted effective Saturday. Freddie Mac is due to report is financial results on Thursday.


Hop on the “Foreclosure Express”

PORT ST. LUCIE, Fla. – Feb. 28, 2008 – A lender, a title company rep, an attorney, a real estate broker and 57 motivated homebuyers are sitting on a bus.

Stop me if you’ve heard this one before.

No? Then let’s cut to the punch line of an adventure called the “Foreclosure Express.”

In four hours, the prospects and industry experts viewed 11 short sale and foreclosed homes. Two of the homes went under contract. Negotiations are underway on several others. And next month’s bus tour is already filled to near-capacity with motivated buyers interested in purchasing short-sale and foreclosed properties in Port St. Lucie.

Credit for the marketing plan and success of this venture belong to Selma Schevers, owner and general manager of Realty Unlimited GMAC Real Estate in Port St. Lucie, and her Realtor team who decided a bus tour would be the best way to get buyers and experts in one place. "We have so many investors that we're working with, and they're constantly approaching us about foreclosure or pre-foreclosure opportunities," says Schevers.