Northwest Florida Realtor

Should this be considered fraud

2008-08-19T22:05:46Z

I wont put the Realtors name out there that listed this but I had a client contact me about putting in a full price offer. So what do you tell a buyer that is looking at something like this?

Detached Single Family
MLS#:	497144m OfficeFile#:	ListPrice:	$10,001
Status:	Active Last Change: 8/7/2008	ApproxSF:	4,943 BG:
Address:	172 TWISTED PINE TRAIL	$/Sqft:	$2.02
	SANTA ROSA BEACH, FL	Bedrooms:	4
Zip:	32459	Baths Full/Half:	3/1
County:	WALTON	Stories:	2
MainArea:	15 South Walton West	YearBuilt:	2006
SubArea:	04 MIRAMAR BEACH SOUTHEAST	OccStat:	Vacant
Subdiv:	FOUR MILE VILLAGE	ImmOcc?	Y
ParcelID:	35-2S-21-42000-034-0200	ConstrStat:	ConstrCmplt
ElemSch: VAN R BUTLER Middle: EMERALD COAST High: SOUTH WALTON
Dir:	Four Mile Village is just East of Topsl Beach Resort on south side of 98.
Legal:	COM AT NE/C OF THE NW 1/4 OF SE1/4 THENCE RUN E 35.82 FT RUN N 01 DEG 04'E 132.30 FT TO POB N 8635' W 149.94 FT, N 0335'W 365.87 FT, S 8635'E 181.90 FT S O104'W 363.77 FT TO POB CONTAINING 1.39 ACRES BEING PARCEL M

Acreage. Walton County Florida. 4/3 1/2 Wow!! This is your dream house!!! Includes top of the line aplliances! No detail has been over looked! Resort like ammentities with spectacular view of the ocean, gym, gated entrance and more! Huge master bath. $10,001.00 (Dollars?) This is not a misprint the lender wants offers, regardless how ridiculously low! This is a short sale, pre foreclosure. Owner is a licensed real estate broker or salesperson. PROPERTY TO BE SOLD "AS IS".

Largest order ever of single turbine windmills from GE for the Texas panhandle

2008-08-19T09:11:40Z

New York Times columnist Thomas L. Friedman sat down for breakfast with T. Boone last week and came away impressed. Describing T. Boone as a cross between J.R. Ewing of "Dallas" and Sierra Club Executive Director Carl Pope, Friedman wrote in his Sunday column:

Pickens made clear... that he was tired of waiting for Washington to produce a serious energy plan. So his company, Mesa Power, is now building the world's largest wind farm in the Texas Panhandle, where he's spent $2 billion buying land and 700 wind turbines from General Electric-the largest single turbine order ever. The U.S. could secure 20 percent of its electricity needs from wind alone.

But Pickens knows he's unique. Unless, he says, "Congress adopts clear, predictable policies"-with long-term tax incentives and infrastructure-so thousands of investors can jump into clean power, we'll never get the scale we need to break our addiction.

USA Mens Basketball Team this year

2008-08-19T01:30:24Z

I have enjoyed watching the Team this year. Coach K from long time college coach of Duke.

They look like a team they have invested the time and effort and there is not just one player trying to score all the points. This was what was not done in the last go round.

They will win the Gold this time for sure.

My favorite of course Lebron James as I am a life long CAVS fan.

South of I-10 just listed off of PJ Adams in the Northview Subdivision 1207 Northview Dr

2008-08-18T16:32:58Z

Detached Single Family				.
MLS#:	499945m OfficeFile#:	ListPrice:	$239,000
Status:	Provisional Last Change: 8/18/2008	ApproxSF:	2,000 BG:
Address:	1207 NORTHVIEW Dr	$/Sqft:	$119.50
	CRESTVIEW, FL	Bedrooms:	4
Zip:	32536	Baths Full/Half:	2/
County:	OKALOOSA	Stories:	1
MainArea:	25 Crestview Area	YearBuilt:	2002
SubArea:	02 CRESTVIEW SOUTHWEST	OccStat:	Occupied
Subdiv:	NORTHVIEW ESTATES	ImmOcc?
ParcelID:	31-3N-23-2817-000B-0080	ConstrStat:	ConstrCmplt
ElemSch: ANTIOCH Middle: DAVIDSON High: CRESTVIEW
Dir:	HWY 85, west on PJ Adams,North on Villacrest drive. West on Northview Dr property will be on your left.
Legal:	LOT 8B OF NORTHVIEW ESTATES 7TH ADDITION.

Located in Northview Estates this one has it all convenient to Eglin, on the south side of Crestview South of I-10,and close to shopping.Really Convenient to everything!GREAT NEIGHBORHOOD FOR YOUR FAMILY.You can tell this home has been well taken care of as soon as you pull up to the front of this home notice the green lawn with the sprinkler systems keeping this a beautifully landsacped yard this yard inculdes multiple large palm trees in the front and with multiple palm trees surround the pool in the back. Large sundeck on the back of the home just down from the covered back deck overlooking the large back yard. The back yard has been fenced for added privacy. This home offers lots of extras some of the features include double car garage with the garage door opener, Side yard building conveys with the home. beautiful fireplace in spacious living room. Master Bedroom suite includes garden tub, separate shower, walk-in closet. Open kitchen plan with island.Seperate laundry room off of the kitchen.Extra lines added in bedroom for computer high speed. All brick light and bright this 4 Bedroom/2Bath split floor plan is a must see SELLER will pay all standard CLOSING COSTS on an acceptable offer.

ParkingSpaces:	Garage:2	Lot Dim.:	100X110	LotAcc:		WatFrnt:
PrkingFeat:		Acres:	0.25	Zoning:	Residential Single Family	WatView:
WFFeet:		LotFeat:
ProjFacil:

Room Type	Lvl	Dimnsns
Family	1	15x18	Design:	Contemporary
DiningRoom	1	12x17	Design:	Contemporary
Kitchen	1	12x12	Const/Siding:	Foundation Slab On Grade, Frame, Roof Fiberglass, Siding Brick All, Trim Vinyl
Breakfast	1	12x7	Const/Siding:
Bedrm:Master	1	16x15	ExtFeatures:	Deck Covered, Deck Open, Fenced Back Yard, Lawn Pump, Patio Covered, Patio Enclosed, Pool In-Ground, Sprinkler System, Yard Building
Bedrm:Additnl	1	13x11	ExtFeatures:
Bedrm:Additnl	1	11x13	IntFeatures:	Fireplace, Floor:Vinyl, Floor:W/W Carpet, Kitchen:Island, Shelving, Split Bedroom, Washer/Dryer Hookup, Upgraded Media Wiring, Owner's Closet
Bedrm:Additnl	1	11x15	IntFeatures:
Garage	1	20x20	Appliances:
			Appliances:
			Utilities:	Electric, Phone, Public Water, Septic Tank, Sewer Available, TV Cable
			Utilities:
			Energy:	A/C: Central Electric, Double Paned Windows, Heat Pump A/A, Heat: Central Electric, Insulated Doors, Ridge Vent, Water Heater: Electric
			Energy:

Mbed/Mbath: Mbath Double Vanity, Mbath Dressing Area, Mbath Garden Tub, Mbath Separate Shower, Mbath Walk-In-Closet, Mbath Whirlpool, Mbed Carpeted

Out of the box

2008-08-15T18:10:45Z

This Group is focused on unusual marketing and sales strategies and techniques. Specifically geared towards people who don't do the status quo. They rise above it. If you think outside of the proverbial box then this Group is right up your Rain Alley. Watch out though. This is no place to go off topic. You will be zapped. Poof. Don't make me go there. :>)

Founder:	"The Lovely Wife"...Broker Bryant's Wife...
Founded:	12/03/06
Subscribers:	2330
Posts:	3030

There seem to always be a good post on here so I joined them.

FSBO

2008-08-15T18:08:50Z

A group to discus and share ideas for the marketing to the FSBO Market, Tips, Ticks and What has worked and has Not Worked for other marketing to the FSBO Market

Founder:	Chuck Kuhter
Founded:	12/03/06
Subscribers:	1270
Posts:	476

You know I have looked at groups on ActiveRain and had not joined many but I have found ones that I had thought about taking a look at but never seem to have the time to so I have just joined another one.

Home Sales

2008-08-15T18:02:55Z

HOME SALES

Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n1-081408.cfm

Not to play half empty but How many were short sales out of this?

ECAR Class Accredited Luxury Home Specialist

2008-08-15T17:58:40Z

You all know where the luxury homes are! In this two day course with Valleri Crabtree, learn the needs and desires of luxury home sellers and buyers. This entertaining speaker will teach you how to market yourself to find luxury home buyers! Learn the 4 steps to showing a luxury home and the 9 key buyer signals to know when you've found a luxury home buyer. Learn the Feng-Shui Phenomenon and more!       "Accredited Luxury Home Specialist Designation Program"
Monday and Tuesday, August 18-19, 2008              Time: 9:00am - 4:00pm Instructor: Valleri Crabtree                          Cost: $399
Sponsors: H & S Title and Wallace Moorehand     11 Hours of CE Credit
Learn how to find, market, and present yourself to affluent buyers and sellers with confidence; how to enhance, expand, and refine your services to appeal to the luxury home market; detailed luxury home market trends, staging tips, and key presentation techniques!
http://ims.ecaor.com/scripts/mgrqispi.dll?APPNAME=IMS&PRGNAME=IMSMemberLoginCookie&ARGUMENTS=-AECAR&SessionType=M&ServiceName=REGE&ClassID=ED265
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Have you ever went to a listing agent to ask for a key for an expired property and they say NO?

2008-08-14T16:31:42Z

Detached Single Family
MLS#:	482856m OfficeFile#: 8000	ListPrice:	$229,500
Status:	Expired Last Change: 7/1/2008	ApproxSF:	2,570 BG:
Address:	328 ROBERTS RD E	$/Sqft:	$89.29
	DEFUNIAK SPRINGS, FL	Bedrooms:	4
Zip:	32433	Baths Full/Half:	3/
County:	WALTON	Stories:	1
MainArea:	23 North Walton County	YearBuilt:	1977
SubArea:	05 MOSSY HEAD	OccStat:	Occupied
Subdiv:	LEISURE LAKES	ImmOcc?
ParcelID:	23-3N-21-37061-000-0040	ConstrStat:	ConstrCmplt
ElemSch: MAUDE SAUNDERS Middle: WALTON High: WALTON
Dir:	Highway 90 to North on Hinote Road. First right is East Robert Road. Home is on the right.
Legal:	Lots 4 & 5 Leisure Lakes S/D and an INT IN COMMON ELEMENTS AS RECD IN OR 315-520 being REFLECTION LAKE & MAGNOLIA LANE OR 990-218

Foreclosure. This is the Deal You are Looking For! 2.93 acres on Leisure Lake. This 4 Bedroom, 3 bath All Brick Home has something for everyone. Cool down during those hot summer days by the in-ground pool, tinker or artistic endeavors can be accomplished in the large workshop/studio. No need to put lawn equipment in the garage with this nice size storage shed. Two Master Bedrooms with Bath. Master Bath #1 has separate shower with whirlpool bath. Lovely florida room with vaulted ceiling. All this and almost 3 acres with dock on the lake for fishing. Mossy Head is the place to be with the new school being built, Proposed Manufacturing plant and the central location to Niceville, Crestview and DeFuniak Springs. This one is a must see. Square footage taken from 2006 appraisal.

Today I tried to do an Interior BPO on this property listed above I was given the contact information for point of contact being the old listing agent we will just say Donna B. down in Niceville. I was suprised however to hear that she had a problem with turning over the key to me as she listed the property with the old owner's and now that it has been foreclosed on and the bank owns it she is not sure what to do.

I had offered to pick up the key she said she was not sure of the "liability factor of doing that" she said.

I dont get it , if there was a lockbox on the property I would be able to gain access to the property and take pictures no problem. She would not have had a problem if the lockbox was still there and it was listed for sale?

I am thinking that I am missing something and then it comes up she wants to hear from the bank and had never heard anything from anyone until today that being me.She wanted to hear from whoever ordered the BPO I thought well she might just want to know why they would never contact her about the short sale so I could understand that .

She then says well give me the number for the BPO place I will call them. So I started wondering is she try to see what BPO place is doing orders in the area so she could do them in the future could that be the reason for the request?

I felt this was an agent just being hard to deal with for no reason, then when there is a three way call placed with me and Donna with me placing it calling the BPO company I hear "I dont want to have to drive 40 minutes" Tells the BPO place that she will be available next week to let me in.

I wanted to say then dont take listings thats out of your area if you dont want to deal with what may come with that.

I am looking at it from my point of view so am I missing something?

New law gives first time home buyers 7500 tax credit

2008-08-12T18:42:57Z

New law gives first-time buyers $7,500 tax credit

WASHINGTON - Aug. 1, 2008 - Tell first-time homebuyers it's time to commit: A provision of the recently-passed federal housing recovery bill gives first-time buyers an interest-free loan of up to $7,500 in the form of an income tax credit.

The credit equals 10 percent of a home's cost up to $7,500, and applies to any single-family residence (including condos and co-ops) to be used as a buyer's principal residence.

First-time homebuyers, defined as those who have not owned a home for at least three years, will claim the tax credit the first year they file federal taxes and receive the money as a reduction of their federal tax liability. The money must be repaid at the rate of 6.67 percent of the total credit each year for 15 years, essentially making it an interest-free loan. If a home is sold before the 15-year pay-off, the balance of the credit is recaptured at resale.

The credit was included in the new law as a way to entice first-time buyers to get off the fence and commit to a purchase.

Other provisions:

· Income limits: Full credit goes to individuals making $75,000 per year or less ($150,000 for couples). The credit amount phases out for higher incomes.

· Effective dates: The new law is retroactive back to April 9, 2008. It terminates on June 30, 2009.

· Alternative Minimum Tax: Credit can be used against the AMT and the credit will not throw any individual into AMT territory.

To read more information about the tax credit and other provisions of the federal housing rescue plan, visit the National Association of Realtors Web site at: http://www.realtor.org/gapublic.nsf/pages/hr_3221_key_provisions

© 2008 FLORIDA ASSOCIATION OF REALTORS®

2007 Florida Home sales profile of buyers and sellers

2008-08-12T18:41:16Z

Study: Single person, non-child families trend in 2007 Florida home sales

One in three Florida homebuyers is single, with 21 percent of 2007 home purchases made by single women and 12 percent by single men - just one finding from the newly-released Florida version of NAR's "2007 Profile of Florida Homebuyers and Sellers." Another highlight: Over two-thirds of Florida buyers (64 percent) had no children younger than 18.

The 2007 Profile of Florida Homebuyers and Sellers describes the characteristics and motivations of recent homebuyers and sellers in Florida to help real estate professionals track the changing demands of consumers in a dynamic market. Here's a summary of the report's findings:

Characteristics of homebuyers

· The median age of homebuyers was 43 years old. Among first-time buyers, the median age was 32.

· The 2006 median household income of homebuyers was $67,500 compared to $74,000 among homebuyers nationally.

· Sixty-four percent of homebuyers reported that there were no children under age 18 residing in the home.

· Fifty-nine percent of homebuyers were married couples, 21 percent single females, 12 percent single males, and 6 percent were unmarried couples.

· Eighteen percent of Florida homebuyers reported they were born outside the United States, compared to 9 percent nationally.

· First-time homebuyers accounted for 38 percent of homes purchased in 2007.

· Forty-nine percent of first-time homebuyers were between 25 and 34 years old.

· The median income of first-time homebuyers was $58400 compared to $58,600 among all first-time buyers nationally.

· Sixty-five percent of homebuyers between 18 and 24 purchased a home because of their desire to own a home of their own and establish a household.

· Thirty-eight percent of homebuyers reported using social networking Web sites, such as, MySpace, Facebook, LinkedIn, and Friendster. Among homebuyers aged 18 to 24, 76 percent reported using social networking sites.

Characteristics of homes purchased

· Twenty-seven percent of recent homebuyers purchased newly built homes.

· Fifty-eight percent of homes purchased were detached single-family homes.

· The typical homebuyer purchased a home 14 miles from their previous residence.

· The median price of homes purchased was $230,000 compared to $215,000 in the U.S.

· The typical buyer purchased a home that was 1,700 square feet in size.

· Recent homebuyers plan to live in their home a median of 10 years.

The home search process

· Twenty-five percent of recent buyers reported that their first step in the home-buying process was looking online for properties for sale. Eighteen percent of first-time buyers and 24 percent of repeat buyers reported their first step was to contact a real estate agent.

· Eighty percent of homebuyers used the Internet to search for homes.

· The typical homebuyer searched for a home for a median 8 weeks and saw a median 10 homes.

· Eighty-four percent of homebuyers used a real estate professional during their home search.

· Among homebuyers, the typical Internet searcher was 40 years old and visited a median 10 homes. The typical homebuyer that did not use the Internet to search for homes was 53 years old and saw a median 5 homes.

· Thirty-seven percent of homebuyers first learned about the home they purchased from a real estate professional; 19 percent first learned about the home they purchased through the Internet.

· Seventy-two percent of buyers viewed the Internet as a very useful tool in their home search.

· Real estate agents were viewed as a very useful information source by 67 percent of buyers, and as a somewhat useful information source by an additional 23 percent of buyers searching for a home.

Home buying and real estate professionals

· Seventy-one percent of homebuyers purchased their home through a real estate agent or broker.

· Buyers searched for a median of two weeks on their own before contacting an agent.

· A friend, family member, neighbor or relative referred 52 percent of first-time buyers to their agent.

· Ninety-eight percent of buyers ranked honesty and integrity as a "very important" factor when choosing a real estate professional to assist with a home purchase.

· When asked about their agent's performance on those qualities considered important, 80 percent reported they were "very satisfied" with the honesty and integrity of their agent.

· Sixty-eight percent of recent buyers will definitely use their agent again, and an additional 19 percent will probably use the agent again or recommend to others.

Financing the home purchase

· Ninety percent of homebuyers financed their home purchase; 98 percent of first-time homebuyers financed the purchase of their home compared to 90 percent of repeat buyers.

· Savings were the chief source of the downpayment for most first-time homebuyers (69 percent).

· Fifty-three percent of repeat buyers used proceeds from the sale of their primary residence toward the downpayment; 46 percent relied on savings for a portion of the downpayment.

· Forty-seven percent of all buyers believe that their home purchase was a better financial investment than stocks, and an additional 30 percent of buyers feel their home purchase was at least as good an investment as stocks.

Home sellers and their selling experience

· The median age of home sellers was 48 years; they had a median income of $83900.

· Sixty-nine percent of home sellers were married and 61 percent had no children under 18 years old living at home.

· Fifty-one percent of home sellers traded up to a larger home when purchasing their next home.

· The typical home seller owned their home for 6 years.

· Fifty-three percent of recent home sellers reported that they undertook home improvement or remodeling projects within three months prior to putting their home on the market.

· The typical home was on the market for 10 weeks. 33 percent of home sellers did not reduce their asking price before their home sold.

· Recent sellers typically sold their homes for 96 percent of the listing price.

· Seventy-nine percent of sellers used an agent or broker to sell their home.

· Sixty-seven percent of all sellers were very satisfied with the selling process.

Home sellers and real estate professionals

· Fifty-nine percent of sellers contacted only one agent before selecting one to help assist in the sale of their home.

· When selecting a real estate professional, 36 percent of sellers received a recommendation from a friend, neighbor or relative.

· The reputation of the agent was the most important factor when choosing a real estate professional for 39 percent of recent sellers.

· Twenty-six percent of sellers used the same agent for their home purchase.

· For 37 percent of sellers, their most important expectation is that the real estate agent will help sell the home within a specific timeframe.

· Eighty-six percent of sellers reported that their home was listed or advertised on the Internet.

· Eighty-two percent of sellers used an agent that provided a broad range of services and managed most aspects of the sales transaction.

· Sixty-two percent of sellers reported they would definitely use the same real estate agent again.

Price is the key

2008-08-12T18:39:16Z

PRICE TRUMPS CREATIVITY

Sellers nationwide want something that makes their home stand out from the sea of listings, but those who try some creative marketing generally find that only one thing counts in today's market - price.

Two essay contests in Colorado and Oregon failed to attract enough contestants, and the homes are once again listed in a traditional way. Many sellers include traditional perks, such as the furniture or a car, but some have gone much further. A 42-year-old single mother in South Florida offered herself in marriage to some lucky homebuyer; and a couple in Pennsylvania offered to will the house back, upon their death, to a buyer.

However, Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors Inc. in Miami, says all the unusual incentives are crazy. He says the motivation to buyers is the same: price. "Of course you want to draw attention to your property any way you can," Shuffield says. "But free trips or cars, that's costing somebody somewhere, and a buyer would rather have a reduced price and decide what to do with their money."

FHA extending financing for immediate purchase of foreclosured homes

2008-08-12T18:35:40Z

FHA extends financing for immediate purchase of foreclosed homes

In an effort to stabilize declining home values in certain neighborhoods, the Bush Administration today announced a temporary policy that will extend government-backed mortgage insurance and allow for the immediate sale of vacant foreclosed properties.

For one year, the Federal Housing Administration (FHA) will insure foreclosed properties marketed and sold by property disposition firms on behalf of lenders. The properties, which must purchased by owner-occupants, will no longer be subject to the customary 90-day waiting period.

"A glut of foreclosed and abandoned homes harms neighborhoods, frustrates homebuyers and delays a community's recovery," said Brian D. Montgomery, Assistant Secretary of Housing-Federal Housing Commissioner. "The action we take today will allow homebuyers to purchase these homes in much greater numbers and ease the excess supply of unsold homes in neighborhoods across the country."

FHA's new temporary policy will help stabilize neighborhoods experiencing high rates of foreclosure by reducing the inventory of unsold properties. Many foreclosed properties remain vacant for months, inviting vandalism and reducing values of surrounding homes. To address that sizeable inventory, lenders have hired companies that specialize in the marketing and disposition of foreclosed homes. It's reasonable and appropriate that these firms have the ability to sell the properties to borrowers using FHA financing.

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This prohibition is intended to prevent property flipping, a predatory practice that strips a home of its equity before being quickly resold at an inflated price to an unsuspecting buyer. FHA's new policy will permit the immediate sale of foreclosed properties to legitimate borrowers wishing to use FHA-insured financing.

Free legal advise to Florida Homeowners

2008-08-12T18:30:45Z

Florida offers free legal advice to troubled homeowners

TALLAHASSEE, Fla. - July 10, 2008 - Florida homeowners facing foreclosure have access to a lawyer and free legal advice through a program offered by the Florida Bar and Florida Legal Services.

According to Florida Legal Services Inc., 77,000 state homeowners are in foreclosure, making Florida second in the nation only to California. And many others are at least 30 days past due on their mortgage payment, which places them at risk of having their loans foreclosed.

Florida Legal Services and the Florida Bar Association have partnered in establishing a toll-free hotline - (866) 607-2187 - that consumers can call. They'll be asked a few initial questions about their situation to ensure accurate placement, and then be sent to a free attorney. The attorney will then negotiate with the lender on behalf of the client to keep the home from being foreclosed.

"I applaud Florida Legal Services and the Florida Bar for offering this public service," says Florida Agriculture and Consumer Services Commissioner Charles H.
Bronson. "Any effort that helps families keep their homes in this uncertain economy is beneficial."

More than 10,000 Florida attorneys have volunteered their services in the program, according to Florida Legal Services Inc.

© 2008 FLORIDA ASSOCIATION OF REALTORS®

Outstanding Realtor Association Web Site

2008-08-12T18:29:03Z

About this site

Could you use a pick-me-up in today's market? At the award-winning Great Time To Buy Florida Web site, you'll find moneymaking strategies, statistics highlighting market-positives and advice from veteran Realtors. Spread the good news!

National Association of REALTORS® 2008 Best of the Web Outstanding Member Service Feature Winner.

Great time to buy according to study about Florida

2008-08-12T18:22:47Z

Economists: Housing declines to remain small

Great Time To Buy Florida

FAR has a Web site dedicated to positive news about Florida's real estate market and why it's a great time to buy. Read more here.

WASHINGTON - Aug. 5, 2008 - A team of economists who created a variety of forecasting models concludes that predictions of further large housing price declines are greatly overblown.

They point to the house price index of the Office of Federal Housing Enterprise as most reflective of reality. Its data reveals that only four states - Arizona, California, Florida, and Nevada - have had declines of more than 4 percent in home prices over the past year.

These economists, including professors from Columbia University and from the Center for Real Estate at Wichita State University in Kansas, discount more drastic figures from the Standard & Poor's/Case-Shiller housing price index. They say this index is faulty because it doesn't include data from 13 states and offers only partial coverage of 29 others, making its results an inaccurate reflection of middle-market homeownership.

Using a model constructed from the OFHEO price index, foreclosures, home sales, permits and employment, the economic team concluded that declines in house prices are highly likely to remain small.

"Our analysis reveals, unsurprisingly, that foreclosures and home prices have negative effects on each other over time, but this does not imply a vicious cycle of collapsing prices. Our models predict that as foreclosures continue to climb in many states, house prices will remain flat or decline in those states - but will not collapse.

"One reason for this is that the effect of foreclosure shocks on house prices is small. Furthermore, other fundamental factors (such as employment growth and a slowing of the growth of the housing supply over the past year and a half) will cushion the impact of foreclosures," the economic team said.

Source: The Washington Post, Charles W. Calomiris, Stanley D. Longhofer and William Miles (08/04/08)

Gov Charlie Crist talked on a plan as reported by AP to lower taxes

2008-08-12T18:20:13Z

It stands to reason that if the number of foreclosures are not going down we may want to help homeowners any way possible?

TALLAHASSEE, Fla. (AP) - Aug. 6, 2008 - Gov. Charlie Crist gave more lip service Tuesday to a plan that would lower property taxes and boost sales taxes, but again said he hasn't decided whether to campaign for the ballot proposal as he did on behalf of another tax-cutting measure that voters approved in January.

For at least two months Crist has been saying he supports the proposed state constitutional amendment, which will be on the Nov. 4 ballot if it survives a legal challenge.

He spoke out again for Amendment 5 at one of his periodic ‘‘Tallahassee Tuesday'' meetings with constituent groups, this time business people, but he remained noncommittal on his role in the campaign.

‘‘I'm evaluating it,'' Crist said. ‘‘I think the closer we get to November the better idea we'll have about our level of involvement.''

Crist was the face of Amendment 1, stumping the state for the measure that's expected to cut homeowners' property taxes by about $240 a month - more if they move. The amendment passed Jan. 29.

Amendment 5 would cut property taxes about 25 percent for all property owners, not just homeowners, by eliminating most school taxes. It would also require the state to replace that money - currently about $8 billion a year - through various means including a sales tax increase and spending cuts.

Another provision would limit annual assessment increases on property.

The very group Crist invited to the Governor's Mansion to talk about the state's sagging economy is sharply split on Amendment 5.

Chuck Bonfiglio, president of the Florida Association of Realtors, thanked Crist for being ‘‘the catalyst'' for Amendment 1 and said Amendment 5 would be the second part of tax relief he promised.

Crist reaffirmed his support but passed up a chance to commit to an active role. Instead, he noted that Florida Chamber of Commerce president Mark Wilson made it tougher to pass.

The chamber two years ago led a successful campaign to require 60 percent voter approval, instead of a simple majority, to amend the Florida Constitution.

Amendment 1 was the first to fall under the new requirement. It passed with 64 percent of the vote. Unlike Amendment 5, though, it had nearly unanimous support from the business community.

The chamber is one of Amendment 5's leading opponents. Wilson said nothing about it during the meeting but later said the chamber agrees property taxes should be cut.

‘‘Our concern is where are we going to make it up?'' Wilson said. ‘‘The voters of Florida remember the lottery and they remember being told that we were going to put a lot of money into education.''

Lottery money has gone to education, but the state has reduced its overall share of public school funding, which has contributed to local property tax increases.

Robert Parrish, president of the Florida Home Builders Association, told Crist he expects his group to take a position on Amendment 5 in a couple weeks.

Even more than Realtors, home builders need a stimulus. Parrish said his group expects to lose 25 percent of its membership this year and another 25 percent next year due to the state's housing bust.

‘‘We're basically a very unhealthy patient right now,'' Parrish said. ‘‘We're not getting any better. We could be getting sicker between now and next year. We're looking for the doctor.''

Housing Bill Headed to White House

2008-08-12T18:09:16Z

I have to say about the below article I received from NAR great work on first steps from what it sounds like. I want to just say to Mr. Martinez where is the loss mitigation regulations and standards????????

Measure includes Martinez provisions to create loan originator licensing and FHA appraisal standards

July 28, 2008 -

WASHINGTON - U.S. Senator Mel Martinez (R-FL) announced Congress has approved and is sending to the White House a comprehensive effort to curtail the rising number of foreclosures, create opportunities for more affordable housing for Americans, and reform the regulation of Government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac in order to improve their critical role in the housing finance system.

"Florida has been hit hard by the housing crisis, ranking second in the nation in record foreclosures last year. This bill is the product of Congress coming together to address this crisis and bring relief to Floridians who face losing their homes," Martinez said. "While addressing the current crisis, this also strengthens the housing market for the long-term. Modernization of the FHA will allow the program to serve more families. After the recent problems with Freddie Mac and Fannie Mae, it is clear that we need a stronger oversight system for GSEs to better fulfill their public mission and this bill puts that system in place."

The legislation includes a measure authored by Senators Martinez and Dianne Feinstein (D-CA) to create national licensing and oversight standards for residential mortgage loan originators. The Secure and Fair Enforcement in Mortgage Licensing (SAFE) act is intended to eliminate bad actors from the mortgage business and require loan originators to meet minimum national standards to ensure they are professional, competent and trustworthy. In 2006 and 2007, Florida was ranked first in the United States for mortgage loans that contained alleged fraud against the lenders.

"The current crisis has shown us that while some homeowners unfortunately made bad financial decisions, others were clearly taken advantage of by bad actors in the housing industry. National licensing standards will help decrease the number of unscrupulous loan originators and predatory mortgages," Senator Martinez said. "The SAFE Act will help to eliminate fraudulent loan originators from the housing industry and give more reassurance to homebuyers at a time when they are making an important financial commitment in purchasing a home."

Senator Martinez also authored a provision with Senator Bob Casey (D-PA) to include stricter appraisal standards for Federal Housing Administration (FHA)-backed loans as part of the Hope for Homeowners measure. It requires that appraisers of property insured by FHA be certified by the state where the property is located, or by a nationally recognized professional appraisal organization, and have demonstrated verifiable education in FHA appraisal requirements. The Hope for Homeowners is a voluntary program that will allow distressed homeowners facing foreclosure to refinance into a more affordable, secure FHA-backed mortgage.

"This is the first step in working to make appraisal standards uniform across the nation," Martinez said. "This provision strengthens standards for FHA appraisals and ensures the integrity of the new FHA program that offers foreclosure assistance."

The legislation will now be sent to the White House where the President is expected to sign the measure into law.