While it's an unpleasant thought, there are individuals that take delight in posting hate e-Mail on the Internet.  Recent major network reports have brought to light the ability to confirm where hate e-Mail comes from.  If you or someone you care for is the ill recipient of such, you may report the abuse to the originator's Internet Service Provider.  What many "thought to be anonymous senders" don't know is that by visiting Whois By IP Address and inputting the IP Address that is automatically forwarded to the recipient in the body of an email from the originator, a list of email addresses to report the abuse will be displayed along with telephone contact numbers.  There are different levels of reporting including Subpoena Requests.  There are a plethora of ways to channel negative energy into something positive for family, fellow neighbors and community.  Our World needs this channeling.  Lets hope these sad souls can see the light. 

Hopefully, no one in the ActiveRain Community will have to utilize this information.

"Carry out a random act of kindness, with no expectation of reward, safe in the knowledge that one day someone might do the same for you." -Princess Diana

Hey Everyone... 

This article comes straight from the Florida Association of Realtors News & Events Site.  Buyers that I have been working with, that are on the fence about purchasing, have found the information in this "insightful."

Also, Forbes Magazine listed the Top 10 Places to buy and it's not surprising that Florida was in the list.  As Florida residents we know that the appeal to live here is strong.  While there are wonderful places to live throughout the U.S., the article mentioned at the beginning of this blog states that Florida will continue to benefit from an incoming population from both U.S. and international migrants.  Economist Hank Fishkind predicts that Florida will add roughly 265,000 new residents in 2008.  While that number may be down from the stats in 2006 and 2007, Mr. Fishkind's data shows that the state's population may rise by 288,000 in 2009 and 332,000 in 2010.  From an optimistic stand-point, the timeline goes hand in hand with our 3-5 year real estate cycle. 

With nearly 3 years of negative media reports about the "bubble bursting," the article along with the National Association of Realtors latest Television and Internet campaigns, have become useful tools in educating Buyers and Sellers on the difference between national reports and actual local statistics (markets).

Have a Successful Day!!!

The Office of Federal Housing Enterprise Oversight (OFHEO) latest quarterly report shows that Florida home prices rose over a five-year period.  Home values rose 95.3 percent. Hawaii is the only state reporting a stronger home price over the same 5 year period at 106.43%.  (Nationally, the increase for the same 5 year period was 50.76%.

Granted we knew our market was good, but it's great to be recognized nationally!

Have a successful, and safe, Labor Day Weekend!

Liz Streed, Associate-Realtor, Gaston & Associates Realty - www.surf4turf.net - 850-368-7735

In an effort to reduce its storm risk payouts, Nationwide Insurance has announced its plans to drop 39,000 homeowner insurance policies plus 1600 business policies.  All cuts should be done by mid-2008.  The policy cuts will be made on customer renewal dates starting early next year; without interruption to their policy during Hurricane Season which ends on November 30.  Some of the deciding factors in why your Nationwide policy may have been cancelled relate to and are not limited to the distance a home is from the coast, its age, value and type of construction.  Nationwide will begin sending out notices to their customers in September. Affected policy holders will receive offers for alternative coverage from Security First Insurance, a Fort Lauderdale company.

The Florida Office of Insurance Regulation released a statement regarding Nationwide, saying "it is unfortunate that this is largely reflective of what ... the private property insurance market in Florida has been doing."

Not alone in the trimming, State Farm is dumping about 50,000 coastal policies starting next year, and Allstate Floridian has already began the cancellation process this past Spring.  Allstate's customers are being offered insurance through Royal Palm Insurance Co.

After all is said and done, Nationwide will retain 176,000 homeowner policies and 40,800 commercial policies statewide. 

All these cuts continue to grow Florida's largest overall property insurer, the state-backed Citizens Property Insurance Corp., , due to dropped policies.

This just in...

One economist in Orlando believes that the market reached bottom a few months ago.  In his weekly radio address on WMFE in Orlando, Hank Fishkind points out that he believes that while things aren't great, they're not getting any worse.  Mr. Fishkind acknowledges that home starts have dropped 36% from their peak, but also states that the public's perception about the housing market versus that of statistical data indicates that things aren't getting worse.  Mr. Fishkind further went on to say "...the sales of existing homes were again stable for the seventh month in a row... While recovery may be some time off, it is clear that Florida's housing markets have bottomed out."  Mr. Fishkind doesn't feel that home prices in the State of Florida will decline further in the coming 18-36 months siting that "more overbuilt markets will take longer to recover."

So... is the glass half full or half empty?

Liz Streed, Associate-Realtor - 850-368-7735 - www.surf4turf.net

Looking to live in a warmer climate, but don't want stereotypical Florida?  ...Then come and visit Navarre and Navarre Beach on Florida's Panhandle also known as the Emerald Coast!

Miles of unspoiled beaches with soft, white sand and the Emerald Green waters of the Gulf of Mexico is what Navarre Beach is famous for...a laid-back style of life.

Navarre offers existing and new construction, and several different subdivisions or condo developments are bound to meet your approval. 

Dining, Entertainment and Accommodations can be found on the peninsula of Navarre and on Navarre Beach Island. 

Jet Skiing, Fishing, Sunbathing, Volley Ball, Boating and Sailing are just a few of the activities you can enjoy on the Santa Rosa Sound; the body of Intracoastal Waters that separate the peninsula of Navarre from the Island of Navarre Beach.

Why vacation where you can live?  Start your search online at: http://www.surf4turf.net/ or call Liz Streed at 850-368-7735 for a complete list of available property for sale and rent.

Cheers!

If you're like me, you tried to remain optimistic about the much discussed decrease in real estate taxes, despite a variety of factors that affect this possibility.

FAR reported yesterday that local governments are still trying to finalize their budgets before it can be determined if taxes will go up, down or remain the same.  To further complicate matters, it is reported that Statewide property values are up -- roughly 10%.  This includes new construction, however the increase has been seen inland -- residuals from the "boom" in coastal areas. 

The coastal counties of Volusia and Brevard, went up only 7% and 4%, respectively, while Marion and Lake counties increased 28% and 18%, respectively.  

On the flip side, commercial values have remained strong in many areas despite the decline in value of residential properties.

Local governments are to cap taxes at last year's level and then roll them back by up to 9 percent depending on how much their revenues had increased in recent years.  However, another variable allows for local governments to override the rollback by votes of more than a simple majority. 

Tax bills are to be based on property values as of last Jan. 1, meaning that the full effect of the residential market decline won't be felt in this year's tax bills.  

At least in our market (locally) along the Emerald Coast, it appears that Sellers are no longer lowering their prices despite the fact tht buyers are still in the wings for this to happen.

Some homeowners also may get higher tax bills even though their homes' market values have declined due to a quirk in the Save Our Homes Amendment voters approved in 1992.

On January 29, 2008, Voters will have the opportunity to make another change in property taxes by passing an amendment  that would phase out Save Our Homes and offer homeowners the choice of keeping their current benefits or trading them for a super exemption - 75 percent off the first $200,000 of a home's value and 15 percent off the next $300,000.  However, when ownership changes, the home would not be eligible to stay under the Save Our Homes program.  Initiatives have been started to get another amendment on the November 2008 ballot (at least in Lee County) that would allow homeowners to take the Save Our Homes benefits with them to a new home.

November is just around the corner...

Is your adjustable-rate mortgage getting out of hand?  Are changes in income creating financial stress in getting your mortgage paid?  What follows are a few tips to consider before things become worse:

1.)  Assess your situation early in the game looking for ways to cut back on expenses thereby increasing your income.

2.)  Talk with a local loan officer about refinancing your current loan to a 30-year, fixed-rate mortgage.  Rates are still attractively low. If refinancing isn't an option, then consider selling your home.  Make sure the Real Estate Agent provides an Estimate of Closing Costs so that you don't fall short of funds at the closing table.  Also, remember that when your home is sold, you can cancel your homeowners insurance and will be entitled to a portional rebate as well as funds available in your escrow account.

3.)  Many States offer one time mortgage relief.  Contact your local housing authority for further details if applicable in your area.

4.)  Stay ahead of possible foreclosure proceedings by calling your lender to discuss options if you think that you may miss a mortgage payment.  Your lender may offer to modify your existing loan or temporarily adjust the rate.  Remember that the better your credit score and employment history, the more receptive the lender will be to working out an arrangement with you.

Hey Y'All...

If you haven't had the time to read NAR's latest forecast on the national real estate market, paste the following link into your browser: 

http://www.floridarealtors.org/NewsAndEvents/n3-080907.cfm

While not all markets are created equal, we have to realize that this information is gathered from each State's association, which in turn is gathered from the local boards.   

Perhaps there's light at the end of the tunnel!

Have a successful day!

Just in today from the Florida Assn. of Realtors' Early Bird report states that from a recent survey conducted by University of Florida that only 5% of 287 homeowners expect home values to fall during the next five years.

82% Expect home values to rise while 135 feel they will remain the same. The median respondent expected a gain of 18 percent, or a little more than 3 percent a year.  UF economists said they weren't surprised by the results.

What Florida has on its side versus other States is that Florida is still a retirement destination for baby-boomers, which should aid in pushing housing prices up eventually.  However, in most Florida markets the median price of existing homes are still on the decline.  The market is seeing a self-correction after the boom years since 2000.

While the report on Early Bird News may be refreshing, keep in mind that not all Florida markets are created equal.

Have a successful day!