Saturday, September 17, 2011

HERE WE GO AGAIN...


RealtyTrac advises that while foreclosure activity fell for the 11th straight month on a yearly basis in August, it rose compared to July. In August the nation’s foreclosure rate was 1 in 570 housing units. The increase in foreclosure activity was driven by a 33% jump in default notices, largest monthly increase since August 2007. RealtyTrac’s CEO stated that, “The big increase in new foreclosure actions may be a signal that lenders are starting to push thru some of the foreclosures delayed by robo-signing and other documentation problems.” Scheduled auctions and bank repos fell both month-to-month and year- over –year in August. In Florida 23,569 properties received a foreclosure filing in August, a 59% drop from August 2010. That accounts for 1 in 376 units.


Banks are offering incentives of $10,000, $20,000 and $30,000 to sellers who go to foreclosure to help with a new start and a new bill, Homestead Act 2, being introduced shortly, will propose offering $20,000 to foreclosure buyers for down payment assistance. A similar offer was made by President Abraham Lincoln in 1862 for Union Army veterans to file an application and claim up to 160 acres of government land; the homesteader was required to improve the land building a home and growing crops. It would come in the form of a loan and be forgiven each year in the first 5 years of the homestead, by 1/5th each year.

Thursday, September 01, 2011

2002 PRICES PREVAIL FOR SOME SOUTH FLORIDA HOMES





According to the Chairman of the Index Committee and S&P indices, “No cities made new lows in June 2011,” and “this month’s S&P/Case Shiller Home Price Index report showed mixed signals for recovery in home prices.” Home sales, they say, are at the same levels in June as they were in 2002. Homes in the tri-county area were up .6% from May but down 5.1% from the same period in 2010. Keep in mind that “2002 prices prevail” does not refer to all sales. When homes are well located for the buyers needs and have extra features such as pools, boat docks, sizeable lots, and upgraded kitchens and baths, the seller may get a higher price than the “2002 value.” Investors looking for income earning properties, on the other hand, bid low, so those sales are at the 2002 level, and maybe lower if not in good condition.


Pending sales have declined, and until we have easier access to credit, an increase in job opportunities, and the financial markets stabilize, the housing market will continue to struggle to recover. Lawrence Yun, NAR chief economist, said, “The market can easily move into a healthy expansion if mortgage underwriting standards return to normalcy… proper comparables [must be] used in appraisal valuations” and he added that the short sale process must be streamlined. He also stated that, “investors are buying real estate as a future inflation hedge.”


Nevertheless, this remains the best time ever to buy in Florida, and discerning cash buyers are buying. Those looking at higher end houses realize that if they buy now, they can live in a beautiful home, in due time it will appreciate in value while they are enjoying the lifestyle… and real estate has ALWAYS “COME BACK”.

Monday, August 08, 2011

BOCA FESTIVAL 2011 RAISES FUNDS FOR CHARITIES


Boca Festival 2011 events begin August 8th with Martinis and Manicures from 6-9 pm benefiting the American Cancer Society at Tipsy Spa Salon, 100 Plaza Real South, Suite J, Boca Raton, FL 33432. Phone: 561-394-7751 x 5308.  

The Festival runs for the whole month of August.  See EVENTS.

Have fun while groups are fund raising this month in various areas in downtown Boca.

Saturday, July 30, 2011

DON'T LIKE WAITING ON LINE?

Here is a helpful idea when you need drivers licensing services.  If you have a mobile device, you can text waitpbc to 41411, says Anne M. Gannon, Constitutional Tax Collector, and you will receive back a text message shoing the number of people currently in line for a license and the approximate wait minutes.  Appointments for drivers license services can be scheduled up to three months in advance and wait times can be viewed at www.taxcollectorpbc.com.  Payment options include cash, check or money order; credit cards cannot be processed.  For office locations go to http://www.flhsmv.gov/offices/.
 Since 2010 the Legislature transferred the job of issuing Real ID driver licenses from the DMV to local tax collectors.  One must go in person to prove their identity, according to the Federal Real ID Act.  With their service centers now in small offices, Gannon says, “We are harnessing the power of technology to put new tools directly in the customers’ hands.
Other implementations to assist those waiting on line include a mobile receptionist issuing Q-flow tickets to clients standing in line so they can circumvent the line; mobile receptionist can process simple motor vehicle transactions including license plate surrender or renewal and handicapped parking permits.  An employee checks the line in peak times so if you do not have required documentation you don’t wait needlessly.

Thursday, July 21, 2011

CREST THEATRE IN DELRAY BEACH TO PRESENT INTERESTING LECTURES

Thursdays at 2 pm, “come winter,” the Robert D. Chapin 2012 Lecture Series presents the following programs and you may want to note them on your calendar now:
 January 12:  Author and Today Show correspondent JENNA BUSH HAGER may tell stories of inspirational people doing great things across America, which she contributes to the Today Show.  Jenna is the daughter of former President George and Laura Bush and granddaughter of former President George H.W. and Barbara Bush.  Jenna wrote “Ana’s Story:  A Journey of Hope”, inspired through working with UNICEF which became a New York Times Best Seller.
 February 2:  US Ambassador to the Manila-based Asian Development Bank, ROBERT “Skip” ORR, is former President of Boeing Japan, and former Vice President of Motorola’s European Affairs Division.  He graduated from Florida Atlantic University in 1976, received his Master’s Degree from Georgetown University, and Doctorate in Political Science from Tokyo University.  
 March 15: host of The Newlywed Game and former disc jockey BOB EUBANKS will share with us untold stories and funny anecdotes about some Hollywood and Music Industry moments.  His six rules for success are motivational.  He will also review hilarious moments from The Newlywed Game.  In 2000 Bob became the only tv personality to ever host the same show format for 5 decades.
 April 5: Journalist, Producer, Author and Writer STEVEN BOGART is also the son of legendary acting greats Humphrey Bogart and Lauren Bacall.  His non-fiction “Bogart: In Search of My Father” was a bestseller.  He will share with us his personal insights and funny stories about his parents and some rarely seen home movies.
General Admission is $25 for open balcony seating; reserved seating on the main floor is $40.  Reserved tickets include a post-lecture reception.  
============================================================

Sunday, July 17, 2011

WHAT IS AGING ABOUT?


MIT RESEARCH: 
Understanding how the body ages 
 
 

WHAT IS AGING ABOUT?


MIT RESEARCH: 
Understanding how the body ages 
 
 

Saturday, July 09, 2011

EVENTS THIS WEEKEND AND BEYOND..


Looking for TREASURES at Bargain Rates?  Be at Bruce Kodner Galleries on Sunday, July 10th at 1 pm for all kinds of goodies to bid on from stunning jewelry to sculpture to porcelain to watches to oriental room size rugs and much, much more.  Located just below Lake Avenue in Lake Worth on east side of Dixie.


Cirque du Soleil: Alegria was an early presentation, still popular after 17 years, featuring classic baroque imagery and a timeless theme of age.  Bank Atlantic Center in Sunrise, an indoor arena, presents this and other shows this month. 

Mizner Park Amphitheater presents “Summer in the City,” a Neil Diamond Tribute on July 29, 2011 at 7 pm.  It is a free concert.  You can bring along a chair or blanket, relax and enjoy the best of entertainment under the stars and bring the whole family.  Lots of great eateries for dinner in Mizner Park!


Crafts fan?  Be at the South Florida Expo Center, South Florida Fairgrounds, 9067 Southern Blvd, West Palm Beach starting at 10 am July 9 to see unique one-of-a-kind items and gifts, try on custom made gold and silver jewelry, find handcrafted furniture, fudge and gourmet delights, folk art, dolls, candies, artwork, pet items, quilts, wearable art, and many other collectable items.
 ======================================================

Thursday, June 30, 2011

NAR COMMENTS RE PENDING HOME SALES TRENDING UP

While inventories are falling, pendings have trended up in 7 of the last 11 months. 


Lawrence Yun, National Association of Realtors Chief Economist, said that the upward trending of home sale pendings bodes well for home prices. “Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace,” he said.  “Home sales still could be 15 to 20 percent higher,” Yun said.


“If banks would simply return to normal sound underwriting standards and begin lending to more creditworthy borrowers, we’d get a much faster recovery in the housing sector.”  Yun, as is the common thread, said that healthy job creation is necessary to ensure a solid recovery both in home sales and the overall economy.


A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. 

Thursday, June 09, 2011

NAR reports that Foreign purchasers buy U.S. property for investment, vacation, and locational reasons.

  • National Association of Realltor’s 2011 Profile of International Home Buying Activity reports that foreigners view U.S. properties as a secure investment, one that provides rental and long-term appreciation possibilities.
  • Homes in this country are less expensive than comparable foreign properties.
  • International purchasers buy properties for both vacation and rental purposes

Wednesday, June 08, 2011

FLORIDA CFO WANTS YOUR FEEDBACK ON IMPROVING THE FLORIDA HOME INSURANCE MARKET

Dear Friend,

With the 2011 hurricane season now underway, I am hopeful that we will continue the good fortune we have experienced for the past five years.

The past two legislative sessions have shown the delicate balance needed to attract the private insurance industry back to Florida while ensuring fair and equitable rates for Floridians. These legislative reforms should signal to the insurance industry that Florida is open, competitive and ready for their business.

Attached are two recent articles regarding the need for further discussion and reforms surrounding the Florida Hurricane Catastrophe Fund and Citizens Property Insurance Company. I found them to be thought-provoking and worthy of discussion.

I look forward to your feedback on these articles and any other insurance-related topics. It is an honor to serve as your Chief Financial Officer.

Sincerely,
Jeff

Jeff Atwater
Florida's Chief Financial Officer
Jeff.Atwater@myfloridacfo.com 
 

Tuesday, June 07, 2011

ACTIVE LISTINGS DWINDLE WHILE PENDINGS ARE UP


    ACTIVE listings are properties 
   where no current sale contract 
   exists

   PENDING sales are properties in 
   which a contract for sale has 
   been executed but not yet closed.

Thursday, May 26, 2011

HOUSING AND OTHER NEWS


HOUSING AFFORDABILITY HITS NEW HIGH; 
BANK FORECLOSURE ABUSE SETTLEMENTS 
UNDER DISCUSSION; 
PUBLIC SCHOOL CUTS SOLUTIONS

With the national median family income at $64,400, the National Association of Home Builders and Wells Fargo announced that 74.6% of new and existing homes sold in 1Q-2011 were affordable to these families.  This is the highest level recorded in more than 20 years since the index has been measured.  In 2010 73.9% was the figure.  Interest rates are at historically low levels, but credit is very tight.  


Freddie Mac is offering up to 3.5% closing-cost assistance and a $1200 bonus to buyers agents on sales of HomeSteps properties.  Offers must be received by July 31 with escrow closing onor before September 30.


Five of the nation’s largest banks were told by state attorneys general that they face liability of at least $17BB in civil lawsuits unless they can reach a settlement regarding improper foreclosure practices.  There are additional potential claims of billions of dollars from federal agencies including HUD and DOJ. Banks have proposed a $5BB settlement to compensate any previously wronged borrowers and to provide transition assistance for borrowers ousted from their homes.  Federal and state officials say that is insufficient and want $20BB to resolve these problems which the state attorneys general from all 50 states and DC have been investigating since last fall.  


New home sales April gains as opposed to March gains were 7.1%.  However, this is down 23% from sales in April 2010.


Budget cuts are causing some public schools to shift costs to students for enrolling in some courses and activities.  Parents are being asked to pay for supplemental materials such as printer ink, biology lab safety goggles and algebra workbooks, some schools offering installment pay plans and others accepting credit cards for a small fee.  Some fees are waived for low-income families.  In California, the American Civil Liberties Union is suing the State for allowing districts to charge a wide array of fees.  Enrichment programs have been cut or eliminated such as advanced math and science, music, art, drama, foreign languages, sports, gifted student courses and help for struggling readers in order to meet budget.  Some teachers noted that many students have taken on part time jobs to pay for activities they want to take part in such as athletics and music.

Wednesday, May 04, 2011

By Asher Price AMERICAN-STATESMAN STAFF
Updated: 5:38 a.m. Wednesday, May 4, 2011
Published: 9:57 p.m. Tuesday, May 3, 2011
A demolition whiz, an expert parachutist and diver, a pilot of mini-submarines and, at one point, an aspiring journalist if Rambo were a Renaissance man, and a lot thinner and taller, he might look like Bill McRaven.

Long before he devised the strategy for how to capture or kill Osama bin Laden, McRaven began preparing for a career as a super-commando while he was an undergraduate at the University of Texas.

McRaven, 55 and now a vice admiral, had been something of a bin Laden hunter for at least a half-dozen years before successfully directing the attack Sunday as the leader of the Joint Special Operations Command.

McRaven, who hails from San Antonio, began preparing for his storied career with the Navy SEALs, the elite special operations forces, while still a member of the Reserve Officers' Training Corps at UT, from which he graduated in 1977 as a journalism major.

"He had drive," said James Gruetzner, who was in the same Navy ROTC battalion as McRaven. "He went on extraordinarily long runs to stay in shape. He was very dedicated."

McRaven grew up in a military family — his father, a former football player, had served as a pilot in World War II — and early outings as a 10-year-old to scuba dive at the YMCA put him on the Navy path, said his sister Nan McRaven, an Austin public affairs consultant who serves on the board of Austin Community College.
"He became very focused on SEAL training," said Curtis Raetz, who also was in the ROTC battalion. "He was able to lap us all no matter how hard we tried."

Students aiming to become SEALs were "fanatical" about physical training, said Greg Colchin, another member of the battalion.
"People think of it as a physical thing, but it's also a mental thing," said Nan McRaven, who said her brother has loved to read ever since their mother compelled him to recite poetry as a boy. "He's focused, and he has the humility for real leadership."

Eventually he would become a qualified diver, parachutist, demolition expert and submersible pilot. He also had smarts. He earned a master's degree in national security affairs, and in 1995, he wrote "Spec Ops: Case Studies in Special Operations Warfare Theory and Practice," in which he developed his own definition of a special operation as one "conducted by forces specially trained, equipped, and supported for a specific target whose destruction, elimination, or rescue (in the case of hostages), is a political or military imperative."

Nominating McRaven for a fourth star this year, Defense Secretary Robert Gates said the Joint Special Operations Command "ruthlessly and effectively (took) the fight to American's most dangerous and vicious enemies."

At its head was McRaven, who "is reputed to be the smartest SEAL that ever lived. He is physically tough, compassionate and can drive a knife through your ribs in a nanosecond," a former commander told Newsweek in 2004.
He also has shown a capacity for contrition. In April 2010, a couple of months after a special forces team mistakenly killed an Afghan police chief, a prosecutor and three unarmed women, McRaven pleaded for forgiveness from a local patriarch, bringing with him an offering of two sheep as part of a custom to make amends.
That followed McRaven's decision to tamp down commando raids in Afghanistan to avoid civilian deaths.

Whatever successes he achieved remained outstripped by the specter of bin Laden, whose elimination, to use McRaven's own word, remained an "imperative."

As long ago as 2004, having already commanded the team that helped capture Iraqi dictator Saddam Hussein — soldiers based at Fort Hood also were involved — he turned his attention to capturing Public Enemy No. 1.

But he was stymied until this spring, when intelligence officers determined that bin Laden was in hiding in Pakistan.

McRaven spent weeks working with the CIA on the commando operation, The New York Times has reported, coming up with three options: a helicopter assault using American commandos, a strike with B-2 bombers that would obliterate the compound or a joint raid with Pakistani intelligence operatives who would be told about the mission hours before the launch.

The decision, to swoop in with a crew of American commandos, was in keeping with McRaven's view of special operations.
In 2001 congressional testimony on military training, McRaven described the two primary missions of Navy SEALs: "Reconnaissance and what we call direct action: raids, ambushes, swimmer sneak attacks and optical clearance for amphibious landings," he said. "Most of these missions originate from the water and require us to work in small units, behind enemy lines at night, with little or no outside support."

Monday, April 25, 2011

AS PRICES RISE THIS SUMMER
 
 WHERE IS THE 

Sunday, April 24, 2011

FLORIDA CHAMBER FOUNDATION SEEKS TO GUIDE FLORIDA TO ITS NEXT ECONOMY



The Florida Chamber Foundation will use the Six Pillars Caucus System, a qualitative research program to engage the best and brightest minds in the state, as a method of starting the first-ever statewide strategic plan to help guide Florida toward its next economy.   Their plan will include an economy that offers high-wage jobs, global competitiveness and vibrant communities by 2030.

Now in its second year, construction of a plan has already begun and deliberations will be more focused in order to finalize the first draft.

The group is seeking volunteer caucus members to engage and collaborate with others with a commitment to Florida’s future.  Find information here or contact Sara Patterson spatterson@FLFoundation.org, (850) 521-1226

Thursday, April 07, 2011

INTERESTING THINGS
TO DO
IN BOCA RATON


Art & Design Walk: 6-9 p.m. April 7 at Royal Palm Place, 308 S. Federal Highway,  561-392-8920 ext. 361.


Lladro Sculptor Event: 4-7 p.m. April 12 at Best Wishes. 2000 NE Fifth Ave., RSVP 561-392-7688.

Historic Trolley Tour: 10 a.m. April 14. Leaving from Boca Raton Historical Society, Town Hall, 71 N. Federal Highway. $30. RSVP 561-395-6766.



Giant Flea Market: 8 a.m.-1 p.m. April 16 at Unitarian Universalist, 2601 St. Andrews Blvd., 561-482- 2001.


Boca Raton Historical Society Hotel Tour: 2 p.m. April 19 at Boca Raton Resort and Club, 501 E. Camino Real. Cost $15 with $10 valet fee. RSVP 561-395-6766

Sunday, April 03, 2011

IN CASE YOU ARE WONDERING… HERE IT IS ... TIGER’S NEW HOME IN JUPITER


 Tiger Woods’ new home in Jupiter has a 4-hole golf course and running track and overlooks the Atlantic Ocean on one side, and the Intracoastal Waterway on the other.  Price ticket? $60MM.
 Prior to his split with now ex-wife Ellen Nordegren, they spent many months planning every detail together.  The 10,000 sq ft house is on Jupiter Island.  Meant to be a family home, now it is a state-of-the-art bachelor pad.  The huge master bedroom has “his-and-hers” bathrooms and there are three more bedroom suites.  There is a glass-fronted elevator. Other features are a basement wine cellar, and perhaps a move theatre and game room for the Woods’ children, Sam and Charlie.
 Many tall trees and high boundary walls surround the plot, giving the privacy desired, but aerial photos, which appeared on Tiger’s blog, show the compound nicely.
 Four more buildings are adjoined to the main house, including a boathouse, golf training studio, stand-alone garage and huge guesthouse.  There is a tennis court, gym, diving pool, lap lane, 100’ running track and a 3.5 acre 4-hole golf course.  The short-game area has four greens, six sand traps with different depths and kinds of sand, a video center and putting studio.  
 A pair of boat docks on the Intracoastal side of the property will hold Woods’ 155 ft yacht, named Privacy.

Friday, April 01, 2011

IS THIS ANY WAY TO RUN A COMPANY? YOU BETCHA IT IS!

 I rarely put an item on my blogs with just a link, but this is a "must see", just one story about a work ethic that makes America great!  Watch the video!

http://www.blogsouthwest.com/video/luv-stories-unexpected-thank-you

Monday, March 21, 2011

CENSUS: FLORIDA HAD 7TH CONSECUTIVE DECADE OF DOUBLE-DIGIT POPULATION GROWTH



Florida remains one of the top places to move to in the United States.  The US population grew by 9.7%, and Sunshine State residents grew by 17.6 percent with a 2.8MM increase in residents between 2000 and 2010.
This growth swelled despite a high rate of unemployment and a housing slump.  While 1.7MM new residential units were built over the past decade, the number of vacant properties climbed nearly 63% during the same time frame, according to the New York Times.

Wednesday, March 09, 2011

NEW BILLS ARE UNDER CONSIDERATION NEXT WEEK IN TALLAHASSEE RELATING TO REAL ESTATE PROBLEMS

With Florida having hundreds of thousands of foreclosures, millions of underwater mortgages and four years of depreciating values, lawmakers meeting next week in Tallahassee are considering new real estate laws.  They generally affect help for condo associations, property tax reform or changes to the foreclosure process.
The Distressed Condo Relief Act passed last year gave condo associations the authority to collect rent directly from tenants of delinquent owners until delinquencies are paid up, and to bar non-paying condo owners from using common amenities like pools and clubhouses.  The bill also provides protections for condo associations that file foreclosure against delinquent unit owners, ensuring that they are not held liable for that owner’s past due assessments when they take title.
A bill being considered this year would give condo associations the power to restrict cable television service and internet access from owners of delinquent condos.  It was pointed out that the reason many homeowners are in default is lack of jobs; this could mean less access to job opportunities.
 Another Bill will change a portion of the Save Our Homes Law by eliminating the Recapture Rule.  If voters approve, a home’s property value assessment would not be increased during years when the home’s market value decreases.  More than 300,000 homes were affected by rising property taxes while property values fell 13% in 2010. However with governments struggling with budget cuts, less property revenue means MORE cuts.  
 A bill is being considered to potentially lower property taxes for new and 2nd homeowners, and the annual cap on increases for non-homesteaded properties would be reduced from 10% down to 3%.  An additional homestead exemption would be given to first-time homebuyers, worth 50% of the property value.
A bill is up for consideration to provide banks and mortgage lenders the option of conducting foreclosure on commercial properties outside the courtroom rather than going to court to repossess delinquent properties, allowing lenders to reclaim a property through a trustee foreclosure which is usually faster than a judicial foreclosure.  According to the Miami Herald, about 100,000 foreclosed residential homes are stymied within the processes right now.



There will be an attempt to direct funds for affordable housing away from new housing to instead renovate vacant abandoned properties and tenants will be given 90 days notice to move out of repossessed foreclosed homes.



Nevertheless it is apparent that current problems will not be solved quickly, and that there are pros and cons with every change.

Thursday, March 03, 2011

UPDATES ON THE HOME FRONT - PRICES DOWN, SALES UP


Realtytrac reports that 26% of all home sales are foreclosures, nationally and Bank repossessions level off, down slightly from 2009 but up from 2008.

Case-Schiller reports that during the 6 months ending December 31, home prices fell nearly 6%. 

National Association of Realtors reports that sales of existing homes rose for the third straight month.

In 2010, Nevada,  Arizona, California and Florida had the highest percentage of foreclosures, in that order.

Cash buyers are offering very low bids, especially for distressed homes being sold at deep discounts, pulling the median price down.

According to Zillow, nearly 30% of mortgage borrowers are underwater on loans and very vulnerable to foreclosure.

Thursday, February 24, 2011

THE GOOD NEWS



According to the National Association of Realtors:
·        Existing home sales increased 2.7% nationally
·        This is the first time in 7 months that sales activity was higher than a year earlier
·        Chief Economist Lawrence Yun says
o   Home sales uptrend is consistent with improvements in the economy and jobs
o   Consumer confidence is boosting
o   Affordability conditions are a big factor
o   Tight credit has resulted in high levels of all-cash purchases primarily for distressed homes sold at deep discounts – which pulls the median price downward but traditional homes in good condition have held their value
o   Investor activity is another factor re purchasing undervalued homes
·        In January, first time buyers bought 29% of homes sold
·        Investors bought 23% of purchases in January
·        Housing inventory is at a 7.6 month supply, lowest level since 12/2009
·        Existing-home sales increased 3.6% in the South
NAR is America’s largest real estate trade association, representing 1.1MM members involved in all aspects of the residential and commercial real estate industries.