EVER WONDERED WHAT THE INTERNET ECONOMY IS?

McKinsey estimates that the 200 million-person global economy has reached $8-trillion.  The report is limited to the G-8 countries plus Brazil, China, India and South Korea.

·        Private consumption refers to, electronic equipment, e-commerce, broadband subscriptions, mobile internet and hardware and software consumption

·        Private investment refers to, from telecommunications industry and maintenance of extranet, intranet and websites

·        Public expenditure refers to, government buying and spending of hardware and services

·        Trade refers to, exports of internet equipment and b-2-b services with overseas companies

The internet contributes more to the economy than mining, utilities, agriculture or education.  In France since the mid-1990’s, McKinsey states that the internet created twice the number of jobs that it destroyed.  World leader of the online industry is the United States with 30% of global internet revenues, but the UK is the world leader in online retail sales.  China’s and India’s internet economies rely on exporting online services for most of their economies.

NOTE THAT REAL ESTATE HAS THE GREATEST WEIGHT IN THE GDP.... 

CONGRESSIONAL MEDAL OF HONOR WINNER

You might remember a news story several months ago about a crotchety old man who defied his homeowners association and refused to take down
the flagpole on his property and the large flag that flew on it. Now you can
find out who, exactly, that old man was.
On June 15, 1919, Van T. Barfoot was born in Edinburg -- probably
didn't make much news back then. twenty-five years later, on May 23, 1944, near Carano , Italy , Van T. Barfoot, who had enlisted in the US Army in 1940, set out to
flank German machine gun positions from which fire was coming down on his fellow soldiers. He advanced through a minefield, took out three enemy machine gun positions and returned with 17 prisoners of war.

If that wasn't enough for a day's work, he later took on and
destroyed three German tanks sent to retake the machine gun positions.

That probably didn't make much news either, given the scope of the
war, but it did earn Van T. Barfoot, who retired as a colonel after
also serving in Korea and Vietnam , a Congressional Medal of Honor.

What did make news was a neighborhood association's quibble with how the 90-year-old veteran chose to fly the American flag outside his suburban Virginia home. Seems the rules said a flag could be flown on a house-mounted bracket, but, for decorum, items such as Barfoot's 21-foot flagpole were unsuitable.

He had been denied a permit for the pole, erected it anyway and was facing court action if he didn't take it down. Since the story made national TV, the neighborhood association has rethought its position and agreed to indulge this old hero who dwells among them.

"In the time I have left I plan to continue to fly the American flag without interference," Barfoot told The Associated Press. As well he should. And if any of his neighbors still takes a notion to contest him, they might want to read his Medal of Honor citation. It indicates he's not real good at backing down.
Van T. Barfoot's Medal of Honor citation:
This 1944 Medal of Honor citation, listed with the National Medal of Honor Society, is for Second Lieutenant Van T. Barfoot, 157th Infantry, 45th Infantry:
WE ONLY LIVE IN THE LAND OF THE FREE... BECAUSE OF THE BRAVE! AND, BECAUSE OF OLD MEN LIKE VAN BARFOOT!

FORBES: MOST EXPENSIVE GATED COMMUNITIES IN AMERICA

RELAX TO MUSIC FROM THE GOLDEN AGE OF JAZZ, SHOW TUNES, SWING, CLASSIC JAZZ, BEBOP, BOSSA NOVA – DOORS OPEN 7 PM, MUSIC STARTS AT 7:30 PM

fau

New 1200-bed apartment opens near new Florida Atlantic University football stadium, offering large pool, sand volleyball court and bbq grills.  Resident card access for elevators increases security.  Campus has a fitness and recreation center, movie house and mall-style food court.  

Cost to student for a semester is $4400-$4800.  This $121-MM complex has a 7- and 8-story buildings separated by a courtyard, with 2- and 4-bedroom apartments, two baths, kitchens, cable tv and high speed internet access.  Each student has their own bedroom and full size bed.  Apartments are all rented for this semester.

AWARD WINNING PALM BEACH COUNTY THRIVES.

Palm Beach County maintains a strong internet presence by offering many web-based applications to easily and transparently access service and do business with county departments and agencies. The 2011 Digital Counties Survey, partnering with the National Association of Counties, awarded our county #1 in digital technology, #1 in counties with populations over 500,000.

The annual survey takes into account achievements using technology both regarding operating efficiencies and realizing strategic objectives. ePZV refers to planning, zoning and building. ePermits is used for land development. WbEOC is for emergency management,e911for emergency dispatch, LEX for law enforcement data sharing, HRIS for human services and myGeoNav (GIS).

Many government, education and nonprofit organizations are connected to the county fiber optic network, allowing an open access public network. Internet service is provided to the network by Florida LambdaRail.

For making government information easily accessible, the county website, www.pbcgov.com won the 2011 Sunny Award from Sunshine Review which recognizes government websites exceeding standards aimed at encouraging open government, and the 2010 NACo Achievement Award for outstanding promotion of government transparency was presented to the Palm Beach County Ethics Initiative.

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.

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”.

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.

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.

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.  

============================================================

WHAT IS AGING ABOUT?

MIT RESEARCH: 

Understanding how the body ages 

via an aging suit 

 

 

WHAT IS AGING ABOUT?

MIT RESEARCH: 

Understanding how the body ages 

via an aging suit 

 

 

EVENTS THIS WEEKEND AND BEYOND..

Looking for TREASURES at Bargain Rates?  Be at Bruce Kodner Galleries on Sunday, July 10^th 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.

 ======================================================

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. 

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

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 Atwater
Florida's Chief Financial Officer

Jeff.Atwater@myfloridacfo.com 

 

Attachments:
Wall Street Journal Editorial on 5-21-2011
Guest Column by Don Brown in Tallahassee Democrat

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.