Charged with the daunting task of reducing homeowners insurance premiums for millions of Florida property owners, the Florida Legislature has passed a 167-page bill that could lower premiums between 5 percent and 40 percent and provide other insurance relief to millions of property owners.
Did You Know?
• The local multiple listing service allows home sellers to increase the exposure of their properties among hundreds, and sometimes thousands, of real estate agents assisting home buyers in their search. Among recent sellers, 88 percent reported their home was listed on a MLS. (2006 NAR Profile of Home Buyers and Sellers)
“Florida’s 160,000 Realtors congratulate Governor Charlie Crist for his commitment to reducing property insurance costs, and to the Legislature for acting in a truly non-partisan manner to provide relief to those who call Florida home,” says Nancy Riley, 2007 president of the Florida Association of Realtors. “This is a good first step in reenergizing the housing sector of our economy so buyers can take advantage of very attractive interest rates.
“But there’s more work to be done in order to create a vibrant and competitive insurance market. FAR’s leadership and public policy teams will continue to work with legislators throughout the 2007 legislative session to keep the American Dream of homeownership alive for all families.”