Foreclosures down from 2008

Right now, taxpayers are willing to grasp any piece of good economic news, no matter how small.
The latest report out of the county clerk's office shows the number of foreclosure filings in Hernando County has declined for the second consecutive month over last year.
In October, there were 291 filings, down from 333 one year ago. The county recorded 269 filings In September, down also from 333 last year.
That's good news. But when compared to past years, the numbers are still significantly higher. In September and October 2007, filings were 153 and 208 respectively.
Meanwhile, homebuilders are hopeful that President Obama's signing the law that extends and expands the $8,000 first-time homebuyer tax credit will further stimulate the depressed housing industry and the economy.
It extends the $8,000 credit for first-time homebuyers for sales contracts entered into by April 30, 2010, and closed by June 30.
Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence, according to the National Association of Home Builders (NAHB).
An existing homeowner can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight.
The income eligibility limits to claim the full credit amount was raised to $125,000 for individuals and $225,000 for married couples.
"The tax credit (will) further stabilize housing and the economy by creating new jobs, stimulating home sales, reducing foreclosures, cutting excess inventories and stabilizing home prices." said NAHB Chairman Joe Robson.
On Tuesday, county commissioners voted 5-0 to roll back impact fees for residential and commercial construction to 2001 levels, from the current $9,200 to $4,848.
The rollback starts Dec. 1 and lasts one year, after which commissioners will review its effects.
Local builders hailed the move, saying it should prompt new home construction and put contractors and trades people back to work.
There are safeguards built into the system to prevent developers rushing to pull permits and then sitting on them for years waiting for the economy to improve.
Senior Planner Paul Wieczorek said the permit issued during the year of the reduction must be maintained and remain active through the completion of the structure.
The actual building must begin during the reduction year, Wieczorek said.
Commissioner Dave Russell said Thursday the halving of the impact fee is targeted to potential buyers who are on the fence and not to developer stockpiling.
Russell said commissioners wanted to ensure nobody "games the system."
Amy Katz of Spring Hill has been following the impact fee debate closely. She doesn't believe it will work and doesn't believe it will solve the foreclosure crisis.
"In normal times during a regular economic cycle it would," said Katz, who helped out at her husband's plumbing company in New York. "But people are hurting so badly."
People are holding on now "because they don't know if tomorrow they are going to get a paycheck," she added.