DAILY BRIEFING: Monday, September 29, 2008

DAILY BRIEFING
Monday, September 29, 2008


FEDERAL AID

The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

FORECLOSURES

Florida will receive $541 million in new federal foreclosure funds that must be used to buy property, rehabilitate abandoned homes and offer downpayment assistance to low-to-middle-income home buyers.

DISASTER RELIEF FUND

Florida Realtors have extended a generous helping hand to Realtors whose homes or businesses were damaged by Hurricane Ike by pledging $50,000 from the FAR Disaster Relief Fund (DRF).

FAR OFFICERS

Wendell Davis, a broker with Watson Realty Corp. in Jacksonville, has been named 2009 president-elect of FAR, and will serve with President Cynthia Shelton, Colliers Arnold, Orlando; Vice President Patricia Fitzgerald, Coastal Properties, Stuart; Treasurer Summer Greene, Prudential Florida 1st Realty Coral Ridge, Ft. Lauderdale; and Secretary Dean Asher, Don Asher & Associates, Orlando. FAR also elected District Vice Presidents and NAR directors, and voted on several public policy initiatives.

MOLD

Mold is back. While the issue never really went away, Tropical Storm Fay, Florida's fourth wettest, has made mold an issue again for homeowners and buyers. Loose drywall tape, light wall stains or even unusual amounts of dust on duct vents could be early signs.