What were the top real estate stories of 2007? The slowing home sales market tops the list, followed by Florida-specific concerns – property taxes and property insurance – along with troubles in the mortgage market and, finally, a proposed Hometown Democracy constitutional amendment that could go before voters in 2008. Here are the issues that shaped Florida’s real estate world in 2007 and a glimpse at what the New Year holds.

The National Association of REALTORS recently released its quarterly Commercial Real Estate Outlook (CREO) and it shows a mixed picture.  While it shows the commercial market slowing down, it is not as severe as some expected.

The following is excerpted from U. S. Senator-Florida, Bill Nelson's e-Brief today:

The problems surrounding the subprime mortgage market have pushed the housing market into its worst slump in 16 years - weakening the economy in Florida and throughout the country and making American families less secure.  Before turning the lights out on the first session of the 110th Congress, lawmakers passed two important pieces of legislation that address the crisis.

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WASHINGTON – Dec. 3, 2007 – If lenders temporarily freeze low introductory interest rates on home loans made to risky borrowers before they soar, it would be a modest fix for the country’s fractured housing market.

The problems are so far-reaching, analysts say, that an emerging Bush administration-backed plan – nicknamed “teaser-freezer” by one economist – won’t spare many borrowers, or bankers, from the pain of escalating foreclosures and defaults.

WASHINGTON (AP) – Dec. 3, 2007 – Treasury Secretary Henry Paulson said Monday he is confident there will soon be an agreement to help thousands of American homeowners avoid mortgage defaults by temporarily freezing their interest rates.

NEW YORK – Dec. 3, 2007 – As Wall Street banks tighten their purse strings on commercial real estate financing, other lenders are ready to foot the bill.

Foreign banks, insurance companies and smaller real estate shops are poised to see robust business from anxious developers who are finding it difficult to drum up funds in the commercial mortgage-backed securities market.