Lee Forbes' Blog | Lakewood Ranch Florida and Regional News

Covered Bridge new listing!!

Mon, 02 Nov 2009 14:23:33 -0600

Single Family ELLENTON FL 34222 Manatee COVERED BRIDGE EST PH4A 4B 5A& M5808474

Address: 5923 WILLOW BRIDGE LOOP
ELLENTON FL 34222
Neighborhood: COVERED BRIDGE EST PH4A 4B 5A&
Price: $170,000.00
Beds: 4
Baths: 2
Year Built: 2005

Square Feet: 2624
Lot Size: .16

Click Here For the Virtual Tour!

Remarks:
Short Sale - Expansive home tucked away just north of the river in Covered Bridge Estates! Better than new, this prime location ascends you to local shopping and dining plus the interstate for travel or commute. Community pool, Fitness Center, and tennis courts too! Visit the Prime Outlet shopping plaza just a short bike ride away or wind your way down to the rivers edge to take in a sunset of set off your boat at the public ramp. This growing community will top your expectations of Florida living!

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Cegnar,Angela
Courtesy of:: KELLER WILLIAMS REALTY
Direct phone:: 9412663872

CAUTIOUSLY RECOVERING...

Mon, 02 Nov 2009 14:20:48 -0600

The government reported our first quarter of positive economic growth last week, indicating the recovery has begun. Yet investors kept the Dow moving up and down over 100 points four out of the five days, ending the week with a startling 249-point drop. Was this a bull market correction, or the return to a bear market? Who knows? The only thing certain is that investors aren't quite sure the economy is back on track.

Makes you wonder what it will take to convince them. The initial estimate for Q3 real GDP revealed the economy growing at a 3.5% annual rate -- way better than expected and the first rise in GDP in over a year. Happily, most of the advance was driven by consumption. Q3 GDP also showed home building UP at a 23.3% annual rate, its fastest rise since the '80's. Plus, Q3 corporate earnings reported so far show over 80% of the companies beating estimates, the highest rate in history.

On the jobs front, Initial Unemployment Claims dropped and the 4-week moving average hit a new low in the recovery of 526,000. Continuing Claims fell to 5.8 million. Positive news also included Durable Goods Orders UP for September, their fourth boost in six months. Most impressive of all, the Chicago PMI measuring Midwest manufacturing, shot up to its highest level in over a year. And the Richmond Fed index for Mid-Atlantic manufacturing logged its sixth straight month in expansion territory. All are favorable signs for U.S. manufacturing.

How to Find FHA Approved Condos

Thu, 25 Jun 2009 09:08:11 -0500

New or Newly Converted Condos:

To determine project eligibility on current projects with Fannie Mae go to www.efanniemae.com

click Single Family tab

click Reference materials

click Accepted Condos

click Appropriate State and review expiration date

Established Projects (90% sold & conveyed and owners control HOA)

Email opuscondospotapproval@wellsfargo.com to see if we have project approval.

If not, can submit to BPAG using streamlined "Established Condo" approval process

Possible FHA approved Condos:

https://entp.hud.gov/idapp/html/condlook.cfm

Sort by Project Name, City and/or State

FHA Spot Approval:

Must be 90% sold and closed

Must be 51% o/o or 2^nd home

Owners must have controlled HOA for 12 months

See FHA 921 and Answer key on Regional Builder Website

** Make sure to get a 921 filled out and review for the following:

1. # total units, sold and closed and investor %

2. Ensure no more than 15% of total units are delinquent on HOA dues

3. Ensure no person or entity owns more than 10% of the units

4. Ensure proper insurance coverage including Fidelity Insurance

www.GulfsideLand.com

Lakewood Ranch Condo for rent in Summerfield Hollow

Tue, 26 May 2009 23:15:14 -0500

Bradenton FL 34202 Manatee Summerfield Hollow M5804887

Address: 6210 Rosefinch Ct
Bradenton FL 34202
Neighborhood: Summerfield Hollow
Price: $1,100.00
Beds: 2
Baths: 2
Year Built: 2003

Square Feet: 1461
Lot Size:

Click Here For the Virtual Tour!

Remarks:
Ideal Lakewood Ranch Living! This stylish townhome features 2BR/2BA maintenance free w/roomy 1 car garage*The spacious floorplan offers living/dining room combination w/access to exclusive balcony*separate family room w/built-in entertainment center*eat- in kitchen*large indoor laundry room*all with ceramic tile*Home is light & bright w/Northeast exposure*Includes cable TV/Water/Trash/Landscaping.

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Water access Villa ready for your next vacation!

Tue, 26 May 2009 23:11:57 -0500

BRADENTON FL 34210 Manatee PALMA SOLA HARBOUR CONDO 1 M5797209

Address: 4100 EL DORADO CV
BRADENTON FL 34210
Neighborhood: PALMA SOLA HARBOUR CONDO 1
Price: $110,000.00
Beds: 1
Baths: 1
Year Built: 1973

Square Feet: 918
Lot Size: 0

Click Here For the Virtual Tour!

Remarks:
Find safe Harbour for your boat... Right behind your home! Pristine community located just minutes from the beaches and shopping. Covered parking in front and hop out back to your sailboat and your off to the sunset.

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Guidelines For Effective Online Communication

Mon, 25 May 2009 21:02:30 -0500

Before adding data to The Internet, you should define which form of online communication you are intending to employ...

Announcements: These are statements such as, "Selling Lakers tickets, anyone interested?" or "Hosting a filmmaker panel tonight at 8pm." They communicate who, what, where, when data for those that are interested.

Open Queries: These are public questions, such as "Moving to Seattle next month. Can anyone recommend a physical therapist?" or "Seeking advice on buying my first guitar." These are intended to generate open commentary, discussion, or even debate. Very useful when you want to get feedback from multiple readers.

Private Messages / Email: These are sent from one person to another. "Bill, are you available in June for collaborating on a blues album? I can pay your travel expenses" or "Sorry I couldn't make it last night. My uncle kept me on the phone for 2 hours, he is having a crisis."

Instant Message: These are for immediate, active discussion, in real-time. These are convenient when you and / or your friend is at work and you want short bursts of conversation that do not involve talking on the phone.

Text Messaging: These are most suited for instances when you want to locate someone in a loud concert, send a quiet reminder during a meeting, or to deliver a phone number or address to someone. When simply using your voice is not an option.

Personal Journals: These are for keeping track of your own personal activities, thoughts, and feelings, so you can refer to them later for contemplation or analysis. "Went to store, started feeling better. Hoping I can go to Disney Hall tomorrow night," or, "Thinking of eating some Pizza. Missing Kelly." No one needs to read these but you.

That means that Private messages don't go on Walls. Personal Journals are not Announcements. Emails are not Instant Messages. Text Messaging is only a backup for when you can't or don't want to actually talk to a human. Never, ever post flirtatious or passive-aggressive little snipes or lobs that are intended to make people ask more questions. Streamline your messages and take into consideration who needs to read them and who does not. (This also goes for photos!)

Let's keep The Internet clean and organized, and save real, personal interaction for real people. Thank you.

Twitter tips and treats for your networking

Fri, 15 May 2009 08:50:14 -0500

I'll assume you're already sold on Twitter but here's some tips to help step up your game.

Customize Everything
Twitter makes it really easy to customize your profile with your company logo and an image of yourself-so take advantage of that! It just takes a few seconds and it will mean a world of difference in getting prospective customers to click "follow."

Network Locally
It's fun to have a big audience and befriend agents across the country, but don't forget the purpose of your marketing. Your goal is to sell more homes so it does not really matter if Ted in England is following you, unless of course he has friends in your area. Do local searches to begin the conversation with other real estate professionals and consumers.

Do Some Automation
Many real estate agents hesitate to get involved with social networking because it can all become overwhelming. I know the feeling! The nice thing about Twitter is all the applications that you can use to automate certain functions. EasyTweets alerts you any time someone uses one of your target keywords. For instance, it would send you an email when someone says "I'm buying a home in Kansas City. Know any agents?" Boom, you're in! Some other great tools to look into are TweetBacks, TwitterFon, and Twitterfeed.

Keep the User in Mind
It's tempting to stuff your feed constantly with keyword heavy tweets and follow everybody under the sun, hoping they will follow you back. Like any marketing tactic, don't forget about the real goal and what effect your actions will have on your prospective customers.

Hopefully this post will encourage you to join Twitter if you haven't already or take it to the next level if you're already tweeting.

Thank you kindly,

Lee Forbes CRS, GRI, ABR, E-Pro

Broker-Associate
RE/MAX Alliance Group
"We Make Real Estate Easy"
Visit our website GulfsideLand.com  for FREE info:

·       Mortgage Calculator
·       Articles & Advice for Homebuyers & Homesellers
·       Search the Mid Florida Regional Multiple Listing Service

Awarded "Young Professional of the Year" by the Manatee Association of Realtors!

How to use your Multi core processor to speed up the windows start up process

Wed, 08 Apr 2009 10:39:03 -0500

Suprise! You spent all that money on a fance new PC or laptop hoping to speed up your user experiance only to see an agonizing start up time day after day.

So you would think it's just a bloated OS causing the long load times. Well I say nee, nee my friend. Nee nee...

Seems that there is a fancy little setting that needs to be flipped on that is unchecked out of the box. I was happy when a friend passed on this windows secret and now it's time to share.

As a default, Vista only boots using a single core processor. Most of us now have atleast a dual core centrino laptop or intel core two desk tops we are working with. So let's review the steps nessicary to boot using all available cores to get things really humming.

1. click the windows start button and type "msconfig" in the search box and open the msconfig program.

2. Navigate to the BOOT tab and click on the "advanced" button

3. You will see a crazy little place in the top left for you to change to the appropriate number oc core processors available. Make the change to match your system, mine was from one to two cores.

4. check the box "Detect HAL" just below the core count you just changed and consider setting the memory to what you got over on the right too.

5. Hit the apply and OK buttons till you are blue in the face and then happily restart you PC as requested by windows vista.

ZOOOOM... your off now using multi core boot! Should cut your boot time by atleast 30%!!!

Remodeled from Head to toe three bedroom home now only $120,000

Tue, 24 Mar 2009 11:52:14 -0500

BRADENTON FL 34203 Manatee ALBERTA PARK M5802436

Address: 5612 23RD ST E
BRADENTON FL 34203
Neighborhood: ALBERTA PARK
Price: $120,000.00
Beds: 3
Baths: 1
Year Built: 1957

Square Feet: 960
Lot Size: .23

Click Here For the Virtual Tour!

Remarks:
Shiny new renovations Make this quiet east bradenton home a super value! New plumbing, updated electrical, complete kitchen upgrade, flooring andnew stucco and paint. Stop and see the great area with quick access to HWY 301 and I-75. no deed restrictions! work trucks are OK!

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Home Close to Tropicana for sale only $78,000

Tue, 24 Mar 2009 11:50:22 -0500

BRADENTON FL 34208 Manatee LINCOLN HTS M5800727

Address: 1010 8TH ST E
BRADENTON FL 34208
Neighborhood: LINCOLN HTS
Price: $590.00
Beds: 2
Baths: 1
Year Built: 1940

Square Feet: 736
Lot Size: .14

Click Here For the Virtual Tour!

Remarks:
Una casa comoda e renta rasonable! Cozy 2 bedroom home with large lot close to tropicana now available for annual rent. $590 monthly with a $500 security deposit or $650 monthly with no deposit! Rent to own also available for the choice tenant. ready for

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Fancy two story model for sale in Bradenton

Mon, 23 Mar 2009 10:34:19 -0500

BRADENTON FL 34208 Manatee HIGHLAND RIDGE M5802258

Address: 3905 32ND LN E
BRADENTON FL 34208
Neighborhood: HIGHLAND RIDGE
Price: $395,000.00
Beds: 4
Baths: 3
Year Built: 2004

Square Feet: 2672
Lot Size: .22

Click Here For the Virtual Tour!

Remarks:
Spacious Worthington II model by Morrison Homes now available with quick access to SR70 and HWY301. Only moments from interstate I-75 or Sarasota. **Heated and Remote controlled Pebble-Tec pool and Spa package included! Natural preserve view. k pond provide privacy out back and pool side. 3 car garage for your toys. Theater / Bonus room upstairs offers an exciting retreat.

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Remodeled east side home for rent in Bradnton

Mon, 23 Mar 2009 10:32:24 -0500

BRADENTON FL 34203 Manatee ALBERTA PARK M5803050

Address: 5612 23RD ST E
BRADENTON FL 34203
Neighborhood: ALBERTA PARK
Price: $1,000.00
Beds: 3
Baths: 1
Year Built: 1957

Square Feet: 960
Lot Size: .23

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Canal fron Villa with boat dock - sail away today for only $130,000

Mon, 23 Mar 2009 10:24:42 -0500

BRADENTON FL 34210 Manatee PALMA SOLA HARBOUR CONDO 1 M5797209

Address: 4100 EL DORADO CV
BRADENTON FL 34210
Neighborhood: PALMA SOLA HARBOUR CONDO 1
Price: $130,000.00
Beds: 1
Baths: 1
Year Built: 1973

Square Feet: 918
Lot Size: 0

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

$15,000 tax credit

Mon, 09 Feb 2009 09:00:06 -0600

Last evening the United States Senate unanimously passed a bipartisan amendment, offered by REALTOR Champions, Senators Johnny Isakson (R-GA) and Joe Lieberman (ID-CT) to the Economic Stimulus Bill creating a $15,000 tax credit to individuals who purchase a home in the next year.

Specifically, the Isakson-Lieberman amendment to the pending economic stimulus bill would provide a direct tax credit to any homebuyer who purchases any home. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation s enactment, and the tax credit would not have to be repaid.

The amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment.

While the final details of the Stimulus Bill are still being debated, this amendment represents a tremendous step forward in NAR's efforts to stabilize housing markets around the nation. Because of the efforts of REALTORS , we expect the final Economic Stimulus Bill will contain several major housing provisions. We will continue to update you as the bill progresses through the legislative process.

Manatee county real esate investors lunch meeting January 30th

Wed, 28 Jan 2009 09:59:44 -0600

Good afternoon! Ahhh, back to 80 degrees again and things are heating up at our weekly meeting as well. This week, attorney David Rosenberg will be sharing his vast knowledge on something we are very familiar with in the Sunshine State, “Dare to Share: The Truth About Fractional Ownerships and Timeshares.” If you, a parent, a friend, or a cousin are involved in one of these, you will definitely want to be at the meeting to hear David speak and ask him your questions. See you then! MIKE TULLIO, DIRECTOR (941)228-1020 CELL (866)415-7805 FAX WWW.MANAREIA.COM WHEN: Fridays from 11:45-1:15 PM WHERE: New China Buffet at 8341 Lockwood Ridge Rd. Sarasota, FL 34243 Click here for directions. We’ll gather in the meeting room to the right of the buffet. WHAT: A round table lunch and discussion of real estate topics and trends. We are open to investors, landlords, owners, renters, buyers and sellers. The focus of our meetings is on Information, Motivation, Education, Training and Networking. INFO: For more information call Mike Tullio @ (941)228-1020 or visit our website at www.manareia.com.

Top 5 reasons Why homebuyers should act NOW

Fri, 23 Jan 2009 14:36:20 -0600

In spite of the negatives in the media, the housing market has several positive conditions smart buyers are jumping on now...

1. Low prices. The fact home prices have dropped is unfortunate for sellers and the economy, but for buyers it presents a golden opportunity they may never see again. Today's low prices mean buyers can get MORE HOUSE and a BETTER NEIGHBORHOOD than they've been able to afford before.

2. Fantastic rates. Mortgage rates are at 37-year lows. We may not see rates like this for a long, long time. Each 1% drop in interest rates roughly translates into a 10% boost in purchasing power. Combined with today's low home prices, this adds up to real values that smart buyers don't want to miss.

3. Lots of choice. Today, buyers have lots of options to look at. This is great for first-time buyers who often like to see more. First-timers are also in a great situation because they don't have a home to sell. But all buyers benefit from choice... they have a better chance of finally getting exactly what they want in a home!

4. Negotiating leverage. Buyers who hate to negotiate will be relieved to know that in today's buyer's market, they have all the leverage. So it should be a lot quicker and easier for them to negotiate their best deal right now.

5. Bottoming signs. All down cycles eventually turn around. No one knows when, but there are encouraging signs housing prices may be stabilizing in parts of the country. Recent numbers from the Federal Housing Finance Agency show home prices UP 0.6% in the Mountain states and UP 0.2% in New England. Imagine that!

Bottom line: buyers have a fabulous opportunity to purchase a great home they can really afford – low market prices – at great monthly payments. But it won't last!

Manatee Investors welcome to our meeting!

Wed, 21 Jan 2009 11:23:22 -0600

Good afternoon! Another week, another great speaker lined up for the wonderful members of the ManaREIA! We have Guenter Manczur, a CCIM with Calkain Realty Advisors coming to talk on, "Let's Go To Commercial Break: Making Money on Commercial Real Estate Deals." Diversification is such an overused term, but as with any cliché, there is truth at the core. Should be a great chance to see how you can buy your next Starbucks franchise. See you then!

MIKE TULLIO, DIRECTOR

(941)228-1020 CELL (866)415-7805 FAX

WWW.MANAREIA.COM

WHEN: Fridays from 11:45-1:15 PM

WHERE: New China Buffet at 8341 Lockwood Ridge Rd. Sarasota, FL 34243

Click here for directions. We'll gather in the meeting room to the right of the buffet.

Foreclosures Online?? NO WAY!!

Sun, 04 Jan 2009 17:20:08 -0600

Embedded video from CNN Video

Short sales benefit from bailout! - How the bailout will affect homeowners

Mon, 22 Dec 2008 12:31:35 -0600

Via Axel Weiss . Weiss & Weiss International LLC (Broker-Owner):

Bradenton / Sarasota - The bailout plan (Emergency Economic Stabilization Act of 2008) was signed into law on Oct 3 2008. Many current homeowners who are in trouble of paying their mortgage look for it as a relief to their situation. As many of them purchased at inflated 2005, 2006 prices owe more than the home is worth now, are practically "caught" in their home.

Depending on the individual situation, short sales brought substantial relief in the past, but on the contrary meant that they had to leave their home before the deal was closed.

Homeownership in the US is more than in other countries considered a basic right for many. So leaving your home makes people deperate and look for other ways to solve the situation.

Will the bailout help me as a homeowner keep my home?

You have to analyze the situation first and find the reasons how you could come into this situation. Current law already allows judges to adjust the principal of mortgages. In the past judges were tight to only adjust the rate. So theoretically a judge can lower the principal which leads to lower payments and would even allow a sale at a lower sale price without the short sale scenario. But can that really help?

The question should be: What were the reasons which led to the individual situation?

The bailout will not help those who cannot affort it!

As a general rule you can not survive when you spend more than 50% of your income on housing. Generally speaking a mortgage costs about $600 - $800 a months per $100,000 owed. So if you go by this rule, somebody making $2000 a months should not live in a $300,000 house.

The only reason somebody making $2000 could live in a $500,000 home in the past was because as prices of homes and its appraisal values increased dramatically people could refinance at a higher level. Most of time some of this money, if not most, was used to cover closing costs and monthly payments afterwards. So basically the "regular" income was not even used to cover mortgage expenses.

The evil of the "leverage effect"

With home prices increasing at double digits after 2004, people we suggested by banks and brokers to purchase homes which were obiously oversized for them. They told, "the price will go up, don't you want to participate?" So people were suggested buying a 5 bedroom house instead of a 3 bedroom. Brokers sold it as a win-win for everybody: Their commission was higher and the homeowner could use the leverage effect by lending more money for an appreciating asset. However what nobody told, the risk and burden led only by the homeowner as he was responsible for the loan with his full assets.

This worked for some time, made some pretty rich. But like any pyramid scheme, once this started failing most were left behind.

And there are further effects:

Oversized home = You pay more in taxes, more in maintenace and more in energy.

All this permanentely for ever, due to the fact that you live in an oversized home.

While a 5 bedrooms is suitable when you have 3 kids at home, it looks pretty oversized for a retired couple on a fixed $2000 income living in a $600,000 house.

Where is the help?
Congress already put a similar HUD program Hope for Homeowners into law. This program can bring relief to homeowners which satisfy all of these criterias:

- Long term affordability
- No investor bailout
- Equity sharing
- Voluntary lender participation

If you qualify, the old loan(s) would be wiped out and you can refinance at a special H4H backed loan at 90% of current appraisal value.

Consequentely these scenarios would never qualify at all:

- Investment, including most second homes
- Payment to income values over approx. 40%, i.e. if you had to spent more than 40% of your income on mortgages

In addition to that, the plan includes that all positive appreciation of the home (over the 100% appraisal value) in future would be shared with FHA at 50%.

Although there are not yet all specific rules about the new bailout out, it looks like the rules will mostly match those of Hope for homeowners program. They only difference will be that the program is offered to all borrowers instead of a voluntary participation.

If you are living in an oversized home and your income does not and will be sufficient to cover the payments of even a reduced mortgage you will not benefit in any way from this program. Moreover as prices for energy and taxes will not drop significantly you are just spending your future.

Short Sales will be the main beneficiaries of the bailout.

As banks are forced to help instead of granting something voluntarily, the position of homeowners will improve. A successful short sale will bring people much faster back on track.

If you are in trouble, there is no reason not to starting taking care of yourself now. Engage an honorable advisor to bring you back on track.

Axel Weiss, MBA Broker
Weiss & Weiss International Realty
PO 14222
Bradenton, FL 34205
www.bradentonbroker.com

Bradenton/Sarasota among the top 3 destinations of foreign home buyers

Mon, 22 Dec 2008 12:31:23 -0600

Via Axel Weiss . Weiss & Weiss International LLC (Broker-Owner):

While the Real Estate Market is struggling nationally and in Florida specifically, one significant countervailing force has been the growing importance of foreign home buyers. According to the National Association of Realtors "Profile of International Home Buying in Florida" Survey, especially buyers from Canada and Western Europe are attracted to the area by the weak dollar.

The most interesting part of this survey for us is that the Bradenton/Sarasota area makes the third place for the most frequently reported location of a home purchase after the Miami-Fort Lauderdale and the Orlando-Kissimmee areas. If you take in consideration that our area is much smaller than the Miami or Orlando area, this news is even more significant.

The buyers who bought property in Bradenton and Sarasota were mostly from Western Europe (44 %) and Canada (44 %). This survey shows how important international buyers are for our local market. "For home sellers it is extremely important that their property gets enough exposure on the international market. International Marketing can be the difference between selling or not selling their homes", according to Weiss.

According to the survey foreign-born Realtors are more likely to work with international clients than U.S.-born Realtors. Foreign buyers often feel more confident when working with Realtors from their home country.

The reason for the increasing interest of foreign buyers in Florida properties can be seen in the falling value of the U.S. dollar relative to major world currencies during the past several years. As a result the cost of Florda property, priced in dollars, is much lower when converted to the buyer´s home country currency. From the percpective of foreign buyers Florida real estate is effectively on sale.

DEAR PRESIDENT OBAMA - I WANT A JOB IN YOUR ADMINISTRATION - CZAR OF ECONOMIC COMMON SENSE

Mon, 22 Dec 2008 11:32:55 -0600

Via Lenn Harley Homefinders.com MD & VA Real Estate:

PROPOSAL FOR POSITION OF CZAR OF ECONOMIC COMMON SENSE

Dear Mr. President.

   Re: COMMON SENSE IN GOVERNMENT

POSITION: Kindly accept this application for the newly created position of CZAR OF ECONOMIC COMMON SENSE. Hopefully, you'll consider making this a cabinet level position because many Americans understand that common sense is sadly mission from government today.

STATEMENT OF NEED:   The United States of America is in recession. Strong and innovative management of the economy is essential for the viability of financial health of the citizens of this great country. Management of the economy of the country has been reactive, wrongheaded and dangerous to the financial stability of the American family.

STRATEGY: I suggest that you make this position a "Recess Appointment" at the first opportunity. Sadly, there is little hope that any Congress, present or future, would approve anyone for a post in your administration that required Common Sense because the concept of Common Sense is alien to a Congress that can be relied upon to seek personal gain over benefit to country.

The legislative records of the present Congress has a track record that:

Puts Party above constituent.

Rewards campaign contributors with tax advantages.

Manipulates legislative order to reward cronies.

We know from your pronouncements since winning the election to the highest office in the country, that you are a man of open mind and flexibility.

PRIORITY: The economic condition in the United States is dire. The former administration was one of reaction and not one of leadership. While the new appointments to the economic management posts in your administration have the credentials for strong, sensible leadership, sadly, they have no history of common sense in any office in which they have served. It is necessary that the citizens of the United States have a voice for common sense in your cabinet.

Management of the Economy of the United States is critical and deserves priority over other interests. Without sound economic management, the U.S. taxpayers will not be able to fund the interests of the environmentalists, organized labor, industrial manufacturing, health services, scientific research, foreign trade, and other well represented special interests.

WHY A CZAR OF ECONOMIC COMMON SENSE? A high percentage of American citizens, the families and individuals who pay taxes to fund the budget of the United States are in a diminishing financial condition. Not only is the income of the average American providing less and less buying power, the primary financial asset of most Americans, the equity in their homes has vanished.

THE PROBLEM WITH THE ECONOMY: The American tax payer has lost their capital, their credit, their savings, their leverage, their voice. The American home owner finanances the building industry, the home improvement industry, the real estate industry, the home mortgage industry, the home furnishings industry, local public schools and more.

THE FINANCIAL INDUSTRY PROFITED FROM ILLEGAL ACTS PERPETRATED AGAINST AMERICAN BORROWERS. The Department of the Treasury and Board of Governors of the Federal Reserve reward the criminals on Wall Street with about $350,000,000,000 to replace their lost capital and encourage the banks and financial institutions to resume providing consumers with credit to finance the purchase of homes, automobiles and consumer goods.

THE FINANCIAL HOUSES AND BANKS TOOK THE MONEY. Yet, mortgages loan approval is more difficult than at any time in the past 30 years. Automobile financing is at an all time low causing the callapse of the American Automobile Manufacturing companies and the chain of businesses that provide jobs for about 10% of the American tax payers.

Giving money to the financial industry that designed the financial instruments that caused the decline of the housing industry made no COMMON SENSE. It is clear that the President of the United States, the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve and other decision makers do not understand the critical nature of the health of the housing industry and have made policy decisions that made so little common sense, that they defies logic.

COMMON SENSE dictates that the first priority of the Government of the United States is the financial health of the American home owner.

I WANT THAT JOB. Someone needs to look out for the folks.



Courtesy, Lenn Harley, Broker, Homefinders.com.

INFO THAT HITS US WHERE WE LIVE

Mon, 17 Nov 2008 09:38:01 -0600

Last Tuesday Citigroup joined JPMorgan Chase and Bank of America in announcing a major loan modification program. The bank's CitiMortgage unit is offering to modify the terms of mortgages for borrowers at risk of falling behind on their payments. The Citi Homeowner Assistance program plans to contact about 500,000 homeowners in the next six months, involving up to $20 billion in mortgages. Citigroup's loss mitigation efforts have already prevented about 370,000 foreclosures on $35 billion in loans since early last year.

That same day, administration officials in Washington announced a plan for refinancing delinquent loans held by Fannie Mae and Freddie Mac, the now government-controlled giant mortgage companies. This could result in lower payments for hundreds of thousands of homeowners. The program builds on the Hope Now program already in place. The goal is to reduce mortgage payments to no more than 38% of a family's monthly income. Slowing the pace of foreclosures is key to our recovery and these programs all help.

You probably heard foreclosure filings were up in October, 25% over the previous year. But foreclosure filings were up only 5% over the previous month and some states actually had declines. Lost in all the noise was the fact these filings don't all wind up as foreclosures. Borrowers are able to refinance their mortgages, negotiate loan modifications, workouts or short sales with lenders.

>> Review of Last Week

RISKY BUSINESS... What's going on now in the economy is being called risk aversion hysteria and that's an apt name. Unfortunately, what the hysterical avoidance of risk actually does is create more of it. With all the talk of a credit crisis, a shrinking economy and fewer jobs, people decide to be more careful with their money. This tanks consumer spending, which gets Wall Street worried, and stock prices swoon - so we wind up with a riskier environment.

A sterling example of this popped up last week. Part of the market's poor performance was tied to the terrible 2.8% drop in retail sales for October, which was directly linked to the current consumer aversion to risk. But it should be noted, if you exclude autos, building materials and gas, "core" retail sales fell only 0.5%. Still a decline, but smaller than the previous two months and, in fact, UP 1.3% over last year. We also want to point out that some economists expect October to be the worst month for retail in the recession and are projecting a "V"-shaped recovery, with growth coming back by Q2 of next year.

On the positive side, the Chinese government announced Monday a $586 billion plan to stimulate their economy. This set off a stock rally in China and inspired some good moves in our own markets for a while. And please also note that crude oil closed the week at $57.04 per barrel. But we did have lower earnings outlooks from a handful of retailers, plus Intel, who showed that techies can be cautious too. There was much hand wringing about whether the government should bail out the US auto industry. The week ended with the G20 countries meeting over the weekend in Washington to talk more about fixing this crisis and preventing future ones.

It was a super-volatile week in the markets, with a 911-point swing in the Dow on Thursday, when it closed up 552 points, its third-biggest gain ever. But for the week, all indexes ended down. The Dow was off 5.0%, at 8497.31. The S&P 500, down 6.2%, went to 873.29. The NASDAQ lost 7.9%, going to 1516.85.

The bond market moved around all week. But the benchmark 10-year Treasury ended up, so its yield, which runs counter to price, went a tick lower, finishing at 3.725%, nicely below the 4% threshold. Borrowers can expect mortgage rates to remain at historically low levels, where they've been for quite some time.

>> This Week's Forecast

REMEMBER INFLATION?... Doesn't seem to be as much of a problem now as it was just a short while ago, but just to make sure everything's still OK, we can check on the Producer Price Index (PPI) on Tuesday and the more critical Consumer Price Index (CPI) the next day. The FOMC minutes on Wednesday will explore the Fed's head set at their October 29 meeting. Then the Philadelphia Fed Index will give its indication of our economic state. Thursday evening we'll hear more on the economy from Treasury Secretary Paulson.

A few biggies will report Q3 earnings this week, including Lowe's, Target, Home Depot and Dell.

Lee Forbes

LeeForbes.com

Gulfsideland.com (search over 118,000 active listings across Florida!)

How to make money with an open house today!

Tue, 14 Oct 2008 09:27:25 -0500

Open houses are only to make a Seller feel like you are doing some kind of active prospecting but it really isn't. Open houses are for you to find buyers to work with and an ocasional 1% chance they might want the home you are holding open.

I suggest you stop spending advertising money on open houses and stop waisting your weekends. If you want to make them productive for your business then use them for you. ie: Only hold open houses in communities you farm. Put up a zillion directional signs in the community that really are there to brand you to the neighbors. Hold the home open during the week leaving the weekend for hot buyers. only hold the home open for an Hour. Yes, one hour!

*** here is the key*** Walk door to door around the community and hand out a flyer about the home encouraging the community to visit the home. ** Nosy neighbors are really interviewing you as a listing agent for selling thier home!! Use open houses as a listing tool!! Now that is what I call Active prospecting!!

Lee Forbes CRS, GRI, ABR, E-Pro

Broker-Associate

9115 58th Drive East
Bradenton, FL 34208

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A new era of affordability for homes

Tue, 14 Oct 2008 08:30:58 -0500

Our local news paper got it right this time with a long interview and statistics review with me for this article. I am glad to see a writer that truly listens and finds the facts showing hot areas in our current market.

Here is the article for those who would like to read.

By Aaron Kessler

Published: Monday, October 13, 2008 at 12:10 p.m.
Last Modified: Monday, October 13, 2008 at 12:41 p.m.

The housing market and the economy as a whole may be struggling mightily, but as home prices in the region return to where they would have been -- and perhaps should have been -- all along, if not for the boom years, there has been one positive result: housing has become affordable again.

Lee Forbes, an agent with Re/Max Alliance Group, compiles data on local housing sales every month by price range.

With the fall in prices, regular people who live and work in the Sarasota-Bradenton area are again able to buy a home after prices had shot up so high during the boom that the typical salary could not keep up with those inflated values, Forbes said.

That did not stop some banks from making risky loans to people who should not have been getting them. That thinking led directly to the bust the entire economy is now experiencing.

But the drop in home prices does have the effect of bringing the market back toward equilibrium.

Forbes said people are buying again -- and the price range that is really moving at the moment? Roughly $200,000 and under.

"It's affordable out there right now, finally," Forbes said. "People who work in the service industry in Southwest Florida, who are teachers, who are cops, that's their price range. And so we're seeing a lot of activity."

Forbes said homes going for less than $150,000 are even more "the hot properties right now." "That is where a lot of bargains are being found," he said.

Sales data for August -- traditionally the slowest month of the year -- show that in Sarasota County, out of 343 single-family homes that sold, 194 were priced at $200,000 and under. One hundred forty-one of those sales involved homes that went for $150,000 and under.

One of the most significant factors in determining the health of the housing market -- months of supply -- also showed that the lower price brackets were doing much better than their higher-priced counterparts.

A six-month supply of inventory is considered normal, when the supply and demand are in a natural balance. In August, Sarasota County as a whole, for example, averaged about 20 months of supply.

Homes priced between $100,000 and $150,000, however, clocked in at only 12.4 months of inventory.

Meanwhile, those priced at $100,000 and under -- a range that during the boom could not even get you a mobile home but that now features some good two-bedroom, one-bath starter homes and other opportunities -- were doing even better. Only 10.3 months of inventory remained, Forbes' data shows.

In Sarasota, 56 homes sold for $100,000 or less in August, and 318 such homes sold in the past six months.

On the flip side, homes hovering under the $500,000 mark are proving very difficult to sell.

"When we're talking about 400, 450, 500 -- those have been stagnant across both Sarasota and Manatee," Forbes said. "Those people are really stuck."

In August, only three closings took place for homes priced from $450,000 to $500,000. In terms of inventory, sellers are looking at 79.7 months of supply -- the highest of any bracket tracked.

Forbes said those price ranges are truly getting into executive-level homes, and there simply are not enough buyers anymore in the Sarasota area.

"We only have so many corporate executives and corporate headquarters in this area," Forbes said.

Of course, it was not always a dead zone for those with $450,000 homes on the market. Forbes said when the overall inventory in Sarasota-Bradenton hit its peak after the boom, homes in that price range were actually doing quite well.

"But that was everyone trying to get out, and now those who didn't are facing a tough time," he said.

Even those with million-dollar properties saw a better August than those trying to sell in that $450,000 to $500,000 range. Nine sales closed between $1 million and $2 million, with 42 months of inventory still remaining in Sarasota County.

Meanwhile, while prices have continued to drop this year, the sales figures indicate that many sellers in the Sarasota-Bradenton area are still trying to ask too much for their homes.

In Sarasota County, the median list price for a single-family home in August was $199,000, according to Forbes' data. But the median sold price was only $177,300.

Looking at the average instead of the median, the average list price for Sarasota during the same period was $375,070. But again, the average sold price was only $329,982.

In Manatee County, there was also a disconnect between what sellers wanted and what buyers were willing to pay.

Manatee single-family homes were listed for a median price of $275,000, but sold for a median price of $255,000.

One group of sellers who apparently are not having any qualms about lowering their prices are banks.

The number of bank-owned properties that have been seized in foreclosure continues to increase. Lenders are proving to be some of the most motivated sellers in the marketplace.

"Foreclosures are selling like hot cakes," Forbes said. "They are lasting a few weeks on the market, and that's usually it before they're selling right now."

INFO THAT HITS US WHERE WE LIVE

Mon, 06 Oct 2008 08:22:27 -0500

Perhaps the most important thing to talk about in the housing market is the potential effect of all this talk about threats to our economy. There is no question the credit markets need help--or their troubles could negatively impact the overall economy. That's why Congress, despite all the political posturing, ultimately did what needed to be done. But the truth is, the credit market problems were not caused by a bad economy. In fact, during the year of this "credit market crisis" real GDP GREW by 2.1%--3.1% if you take out housing. So we all need to get the word out: this rescue plan is needed, but the underlying economy is OK. 95% of the mortgages in this country are current in their monthly payments and will be paid off just fine.

We all know home prices need to rebound before things get back to normal. Uncertainty in the financial system was clearly hindering the housing recovery, so a rescue plan should help. Meanwhile, last week a closely watched home-price index showed a slowing in the pace of price declines for July. Even better, seven of the 20 regions surveyed posted NO DECLINES, led by Minneapolis with a 1.3% price RISE! Another survey of 25 metropolitan areas showed 24 had price drops for the year ending July 31. But Milwaukee had a 2.9% INCREASE. And some price declines were negligible--a 1.2% drop in Chicago and 1.5% for Columbus, Ohio--for the year!

Lee Forbes,

www.LeeForbes.com

www.Gulfsideland.com