Some updates on the Florida housing market. "No signs point to a housing bubble in the Tallahassee market. At least that's the thought from local appraiser Clay Ketcham. 'If I knew if there was a bubble, I wouldn't be here,' Ketcham quipped. 'I don't think anyone knows that.'"

"The market here is doing well, he said. While there is a large inventory of homes costing $500,000 or more, there is still an active market for homes $350,000 and below. 'I think there are some areas where you see some softening, but Tallahassee is strategically poised to grow.'"

The January median for Tallahassee was reported to be $175,500.

The Sun Sentinel. "The Florida Hurricane Catastrophe Fund is facing a shortfall and needs a rapid cash infusion to ensure there's enough money for insurers to pay property damage claims from last year's storms and replenish the account for next hurricane season, a state catastrophe fund advisory board recommended."

"Whatever is decided, all of the state's homeowners will ultimately pick up part of the tab because insurance companies are expected to pass on the additional costs to their customers. Already, Florida homeowners are paying down a $516 million deficit state-backed Citizens Property Insurance Corp. incurred from the 2004 hurricane season."

"Owners of Florida vacation properties and second homes insured by Citizens Property Insurance Corp. would face a 25 percent surcharge under an insurance overhaul outlined by Florida Senate leaders."

"The move to help keep the state's beleaguered insurer of last resort from going broke after future hurricanes shifts a big portion of insurance costs to nonvoting, seasonal residents. Sen. Rudy Garcia defended the idea of charging owners of non-homestead properties higher rates. 'We're very interested in keeping our welcome sign up for the people who have vacation homes here,' he said. 'But should the people of Florida subsidize [nonresidents'] insurance costs?'"

"It's unclear what portion of Citizens' accounts are for non-homestead properties. Property records reviewed by the South Florida Sun-Sentinel indicate a substantial number of South Floridians could pay more under the Senate plan."

"Of the 156,533 residential properties in Broward County east of Interstate 95, about 43 percent do not have homestead exemptions, property appraiser records show. In Palm Beach County, looking only at single-family homes east of Interstate 95, there are 74,506 properties, of which 25 percent are non-homestead."

"The Senate proposal, similar to the House version, forbids Citizens from covering homes worth more than $1 million in order to reduce the company's risk and the need for future surcharges. In September, Citizens covered about 5,500 homes valued at $1 million or more."