The Basics: 2009 First-Time Home Buyer Tax Credit
From Realtor.org
Bringing the Dream of Homeownership Within Reach:

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

8,000 reasons to get off the fence.

8,000 Reasons for you to get off the fence.
Check out $8,000 dollar bill & then click this to check out & print the flyer.
There's never been a better time to buy a home. Really.

Real Estate is awesome.

TODAY'S TOP STORIES
All credit goes to Early Bird News for these...
Citizens insurance approves rate changes
Florida's largest property insurer approved a 10% rate hike for many customers, but a 10% rate decrease for some. Read more.
Appeals court upholds 'Save Our Homes'
Alabama residents had filed a suit alleging that it discriminates against property owners who aren't full-time residents. Read more.
Lawsuit filed against growth management bill
Local governments asked a circuit court to reject the law, saying it's an unfunded mandate that Florida law bans. Read more.
Your home's worth: Who can tell these days?
Should home value calculations consider nearby distressed property? Appraisers, real-estate agents and owners disagree. Read more.
Poll: Would-be homebuyers still cautious. More than half say they're not prepared to jump into the market, with a fear of job loss their No. 1 reason. Read more.

From Florida Assoc of Realtors... Tips & Info sites for home loans...

• Bankrate.com: www.bankrate.com/brm/green/mtg/mort1a.asp Good primer on different types of mortgage borrowing.

• Federal Deposit Insurance Corp.: www.mortgageinfocenter.com/tips/default.asp Offers dozens of mortgage borrowing tips over five pages.

Study: Housing Market in Lake City, FL

This is an article that was published in the Lake City Reporter yesterday. Written by Jeff M. Hardison.. & all credit goes to him & the Lake City Reporter...

This explains how the trend of more sale & activity but lower prices is still moving up north in Florida, still reaching into the Lake City, FL area. Here is the article.

__________________

Statewide numbers for Realtor sales of single-family existing homes looked good in May of 2009, according to the North Florida Forecaster newsletter. The newsletter is a publication of the Lake City Board of Realtors. People who are in the house-buying mode as end users will find Lake City to be a good market now, said Lake City Board of Realtors Executive Vice President Dan Gherna.

A trend of property prices being drastically reduced is moving northward, Gherna said, as reflected by Ocala showing a 1 percent increase in the number of Realtor sales of single-family existing homes in May 2009 over May 2008.

In Ocala, there was a 22 percent decrease in median prices of homes sold in May of 2008 compared with May of 2009 — dropping from $143,100 to $111,600.

“It’s encouraging to see Ocala’s results,” he said.Gherna said the Lake City-Live Oak market reflects low sales from May in comparison with the same month in 2008.“The bad markets are Gainesville, Lake City and Tallahassee,” he said.Gherna said a 13 percent reduced median sales price from $150,000 in May of 2008 to $130,000 in May of 2009 for the Lake City-Live Oak market is not significant enough to expect a dramatic increase in sales.

The Lake City-Live Oak market showed a 22 percent decrease in the number of sales, dropping from 41 houses sold in May of 2008 to 32 homes sold in May of 2009, Gherna said.

“Our distress property sales were only 30 percent,” he said. This compares to South Florida, where they are upwards of 80 percent.”

The Fort Myers-Cape Coral market showed the most significant positive sales increase by going up 72 percent when comparing figures from May 2008 and May 2009. There were 823 houses sold in that market in May of 2008 and that jumped to 1,417 houses sold in May of 2009.The median price of houses in Fort Myers-Cape Coral dropped by 58 percent, from $212,400 in May of 2008 to $88,500 in May of 2009.“In Fort Myers and Cape Coral,” Gherna said, “it looks like a war zone. There are new subdivisions where people are not mowing and windows are broken. Banks see these homes as a liability.”

Gainesville, Tallahassee, Lake City-Live Oak and Sarasota-Bradenton markets are the only double-digit negative Realtor sales figures for May of 2009 compared with May of 2008.Of the 21 markets reviewed by a survey of Multiple Listing Services sales levels from Florida’s Realtors, only Panama City showed a single digit 7 percent drop in median prices from $190,000 in May of 2008 to $167,500 in May of 2008. All other areas dropped prices from 58 percent to 10 percent.

Youtube, Old campsites, & Real Estate

Chad Stewart is now on Youtube as well... Check out videos & home tours & keep checking back.... If you are a Realtor & are not yet using Youtube or many of these online marketing & networking sites, you might as well get started. You need to keep your listing exposed to absolutly as many people as you possibly can.

Here is my Youtube channel if you want to check it out. http://www.youtube.com/user/chadrealestate101

You can even post the videos right in your blog like this... Check out some of these "homes" ... You definetly want to make sure you have an agent on the ground to check out sites, so you don't end up buying a place like this not knowing what you are getting into... wow, quite the place to drive thru....

Chad Stewart - Westfield Realty is on Twitter

Follow me on Twitter

http://twitter.com/ChadRealEstate

South Florida market looking better Threats still exist, however, says NAR Economist Lawrence Yun, who spoke at Miami's International Real Estate Congress. Read more

Short Sale & Foreclosure Report for Lake City, FL

Lake City, FL is definitely experiencing more short sales, foreclosures, & over REO or Bank owned properties & home sales than even just 1 year ago. Although we still do not seem to be even close to south Florida in terms of a REO dominated market to the levels of a 80-90% range. Locally we are at about 30% of our home sale business is Foreclosures & Short Sales.

152 residential properties sold YTD Jan thru June 13th 2009 in my north FL county (Columbia Count) "rural FL" 49 of those were REO, Foreclosure, Shortsales or approximatly 30% of the Market. Median sales price for all 152 sales YTD was $114,450 or about 80% of original list price for 2009 YTD.

Last Year, 2008 YTD thru 6-13-2008, by comparison there were 186 sales YTD with only maybe 15 or so REO,Foreclosure, or Short Sales being only about 8% of the market. Median sales price for these were $145,000. Selling at 89% of original list price.

Information pulled by Chad Stewart with Westfield Realty Group out of the Lake City North FL MLS. Lake City FL Board of Realtors.

Chad Stewart - Real Estate Blogger author.

http://www.chadstewart.com

Pending Home Sales Up 6.7%, Biggest Gain in Over 7 Years http://www.cnbc.com/id/31063170

1099-c Cancellation of Debt on Foreclosure or short Sale

Wondering about a 1099-c regarding cancellation of debt on a foreclosure or short sale. You may qualify for NOT paying taxex on that "income"
http://www.irs.gov/newsroom/article/0,,id=174034,00.html

Homebuyers credit!!! :)

Governor signs $8K homebuyer credit into law
On July 1, first-time Florida buyers who quality for the federal $8,000 tax credit can use it toward a downpayment. Read more.
http://www.floridarealtors.org/NewsAndEvents/n3-052709.cfm

Lake City, FL Real Estate Sale

Home sold in Eastside Village. Only on the Market for 4 days!! But really only 1 business day. Wow. This goes to show price it right & still you can sell quickly in Lake City, FL. This was not a short sale or foreclosure.

Big Improvement to First-Time Buyer Tax Credit
Under a new FHA rule, lenders can allow first-time home buyers to use the $8,000 tax credit as a down payment. Otherwise, buyers wouldn't get the money until they receive their tax return.
http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument

Florida Real Estate Market.

FLORIDA REAL ESTATE

A monthly UF survey finds an increase in confidence for the Florida real estate market. "Positive responses ... lead us to believe there is light at the end of the tunnel," says Timothy Becker, director of UF's Bergstrom Center for Real Estate Studies. According to Becker, many respondents believe that government stimulus efforts are working.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-051309.cfm

Latest Listing & Youtube Video Test.
Maple Ln for $99,900. Lake City, FL Real Estate.

Short Sales & Foreclosures,

This article has important things to keep in mind when dealing with sellers that wish to walk the path of a short sale, foreclosure or deed in lieu of foreclosure.

http://www.brokeragentsocial.com/article.php?article_id=308

Tax Credit

Limited time to partake in the $8000 tax credit!

http://www.floridarealtors.org/NewsAndEvents/n1-042409.cfm

Florida Real Estate Market

Here is some great news..., yes buyers get in there & start making your move. Well priced properties are selling quick. - Chad Stewart - Lake City, FL

RECOVERY ON THE WAY?
Housing Predictor - which monitors over 250 residential property markets nationwide - says Florida appears to be emerging from the realty slump before any other state, including California. The Sunshine State is seeing population growth, and single-family home and condominium sales have been on the rise for more than six months. Foreclosures and short sales presently account for approximately 67 percent of all sales and often are not included in real estate agents' tallies. Additionally, banks in many Florida housing markets are cranking out more home loans, and sellers finance almost 20 percent of all sales.
Source: First???EmailWire.com (04/21/09) © Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688

OPEN HOUSES
Despite a changing market, many real estate professionals say open houses still effectively showcase a home. "Anything you can do helps," says Trudy Severa, a sales associate in Reston, Va. "It's a numbers game, and there is no way to know the residual effects [that an open house can have]."Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-041409.cfm

RENTERS
Renters who have never missed a payment sometimes find themselves on the street because a landlord lost their house to foreclosure. But for $25 per year, a new program, RealtyTrac Renter Alerts, will monitor the home and inform renters about any foreclosure activity.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-040609.cfm

Look at this. NAR housing affordability index at 173. This is the best index since they started keeping records.

http://www.floridarealtors.org/NewsAndEvents/n2-040109.cfm

GOOD TIME TO BUY
There are signs that the housing market is starting to look healthier as many people realize it's a good time to buy a home. One of the best reasons: Uncle Sam is there to help first-time buyers, who are entitled to a maximum $8,000 tax credit on the purchase of their home.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-033109.cfm

HOME SALES
Florida's existing home sales rose 24 percent in January, making it the fifth month in a row that sales activity increased year-to-year, according to the latest housing data from FAR. Florida Realtors also reported a 13 percent gain in statewide sales of existing condos last month. NAR reported that nationwide sales of existing homes - all housing types - fell 5.3 percent last month; at the same time, inventories fell to a two-year low.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-022509.cfm

HOMEBUYER TAX CREDIT
The current version of the economic stimulus contains a tax credit of up to $8,000 for first-time homebuyers only, though it does not have to be paid back if the house is owned for three years or more. The amount is far less than the $15,000 initially expected, and analysts say it will provide only a modest boost to the U.S. housing market.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-021309.cfm

"The Day the Market got better"

I was working hard in my office on new listings on Feb 9th, 2009, when my phone range.

...It was a investment prospect I had last talked to in August of 2007!!!! He was interested in making a purchase again after not have done anything in the past.., well should we say long time...
...A short time before that a land seller called that had not relisted his property, he was now ready to "do something"
...While getting my oil change, the attendant say my real estate name tage & said "I want to buy a home now!"
...a before that I had a development prospect interested again in developing a new retail center...He had been waiting things out for 9 months to a year.

It felt like that on Feb 9th, there was a surge of new activity, especially these "out of the blue" calls of people ready to get things moving again.

So I have officially labled Feb 9th as the day I reached the bottom of the market in terms of activity levels, no where left but up from here... Really throughout he start of the year, buyer, seller, prospect activity has really picked up, and I think it picked up even more in Feb of 2009.
I actually got pretty excited, I love the real estate business (even in a softer market) so I get really excited to see some activity levels coming back again.

So I am officially labeling Feb 9th, 2009 the day the market got better.

Thats all for now..I'm off to market another property, get that happy buyer & happy seller together for a wonderful deal.
Has anybody else had one of these "moments"?? I would love to hear about it. Leave me a comment.
Chad.
www.chadstewart.com

COMMERCIAL
The commercial real estate industry applauded the government's move to include commercial mortgages in a key lending program Tuesday, but experts said the plan's lack of details is disconcerting.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-021109.cfm

MARKETING
Many potential buyers think they won't qualify for a mortgage, and that they must have a substantial downpayment first. But some Realtors are using that information to their advantage, hosting "Why Rent Events" that instruct shoppers on how to buy a home right now.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-020409.cfm

Here are some things to watch for when shopping for homes or land online... I have designed my www.chadstewart.com website to be automatically updated dailey with accurate information, but still contacting a Realtor directly is the best way to get best info.
Thanks. Have a great day.

ONLINE SHOPPERS NEED YOU.
Home shopping alone - without the help of a professional even when online - can become a huge handicap for home buyers. Here are four reasons:

• Late information. Shoppers who limit themselves to only looking at real estate Web sites will overlook some very good properties, possibly one that is perfect for them, and they won't get up-to-the minute information.
• Fake listings. Web operators sometimes try to collect page views with fake listings to pump up their advertising returns, and that wastes the time of real home shoppers. It's also frustrating for shoppers to find an interesting home that's not available.
Questionable information. Home value Web sites only go so far. Sites like Zillow.com and Cyberhomes.com put prices out there that may or may not be an accurate reflection of neighborhood or housing value. Working with a professional means the buyer gets the benefit of a broader range of knowledgeable resources.
• Process help. Once a home shopper has found a property, working with a pro means they'll follow the right path to close the deal. For anyone except experienced investors, going it totally alone can be risky.

MORTGAGES
Don't believe everything you read, says NAR. As part of a housing story, a number of media outlets say buyers now need a 20 percent downpayment to get into a home, which is not true. FHA mortgages, for example, require only a 3.5 percent downpayment.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-010609.cfm

FLORIDA CONSUMER CONFIDENCE
Consumer confidence among Floridians rose five points to 67 in December, reflecting optimism about new presidential leadership in 2009, a University of Florida study finds. Housing prices continue to fall, although some areas of Florida appear to have turned the corner and may benefit from the spring real estate season, says Chris McCarty, director of UF's Survey Research Center.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-010509.cfm

Home Affordibility

Wow!! the National Association of Realtors just released the affordibility index for November 2008, it has reached 142...

On this index the higher the number the more affordable it is to buy a home based on interest rates, median home prices, and median income ...

This truly is one of the best times to purchase a home even in the past 20 to 30 years!!!

Great rates, Great prices, things are looking good for 2009.

Fannie Mae said Monday it's finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure. The mortgage giant says renters who can make their monthly payments could be offered a new lease or given cash to help move to a new home.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-121608.cfm

REAL ESTATE TRENDS
When the economy shrinks, so does the size of housing, sending the popularity of tiny apartments and condos soaring as construction costs rise and financial markets fall. Developers are also responding to buyers' penchant for urban living and their environmental awareness.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-120808.cfm

HOME SALES
For the second month in a row, Florida's existing home sales rose in October: Florida Realtors reported a 15 percent increase in activity in the year-to-year comparison; last month's sales of existing condos statewide increased 5 percent in the year-to-year comparison. Meanwhile, NAR reports that existing-home sales fell 3.1 percent from the strong gain seen in September.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-112408.cfm

Right now, yes in the year 2008, is the most affordable time to purchase a house in the last 35 years...
Based info from the NAR (National Association of Realtors), every year, the combination of median single family home price, family income, qualifying income, interest rates = the Housing affordibility index.
Here is how it works, a score of 100 means a family has the exact amount of income to qualify for a home, a score of 120 means a family has 120% of the income needed, therefore making it actually more affordable & the home mortgage payment a smaller portion of their bills.. http://www.realtor.org/research/research/hameth
So, we need to spread the word!!, there is no technical, financial, or analytical reason not to buy a home..
Not only is it the classic rallying cray of a "Great time to Buy" but its actually the "BEST time to Buy in out of the past 35 years"!!!!
Wow!! That is something to write home about... or at least to write to customers about homes about...
US HOUSING AFFORDABILITY INDEX is NOW 135

RESPA REFORM
Good Faith Estimates will be standardized effective Jan. 1, 2010, under rules issued by HUD yesterday. The change, HUD says, will save consumers $700 at the closing table by making it easier to compare mortgage offers from competing banks.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-111308.cfm

FHA LOANS
Starting Jan. 1, 2009, FHA will insure single-family home mortgages up to $271,050 in low-cost areas, and up to $625,500 in high-cost areas. While the February stimulus package temporarily raised the FHA maximum higher, $625,500 still represents a significant increase over the original $362,790 limit.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-111208.cfm

Clippings from Lake City Reporter... all credit goes to Lake City Reporter and/or Forbes.

http://www.lakecityreporter.com/articles/2008/11/09/news/doc49166a61004de174884352.txt

In the most recent issue of Forbes, the magazine lists the most and least vulnerable towns in the United States. Using criteria that focuses on 141 micropolitan areas in the nation, Lake City ranks 95th out of the 141 — the higher the ranking, the better, Forbes explained.

Of the Florida cities listed, only one — Key West, which is labeled the second least vulnerable town in the U.S. — ranks higher than Lake City.

Obama Will Support Housing, Says NARPresident-elect Barack Obama is likely to make a housing market recovery a central part of his economic revival plan, NAR leaders said Thursday.

COMMERCIAL
Citizens Property Insurance Corp. announced that it will begin offering a Commercial Nonresidential Multi-peril (CNR-M) policy on Nov. 17, 2008. This new policy will be available to eligible nonresidential entities statewide.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-110408.cfm

Good article. It looks like we have turned the corner and are on our way!
http://www.floridarealtors.org/NewsAndEvents/n2-103008.cfm

FORECLOSURES
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of 2008 compared with the same period in 2007, according to data released Thursday. One bright spot: Filings in September were actually down 12 percent from August.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-102308.cfm

NEW HOMES
To compensate for a drop in sales, many new home builders switched to the construction of smaller houses. That worked for a while, but to attract buyers now, they're cutting square footage even more.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-101308.cfm

PENDING HOME SALES
Pending home sales surged 7.4 percent, according to NAR's latest Pending Home Sales Index, and the number is 8.8 percent higher year-over-year. Lawrence Yun, NAR chief economist, says homebuyers were responding to improved affordability, especially in states such as Florida, California, Nevada, Arizona and Rhode Island.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-100808.cfm

FORECLOSURES
Florida will receive $541 million in new federal foreclosure funds that must be used to buy property, rehabilitate abandoned homes and offer downpayment assistance to low-to-middle-income home buyers.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-092908.cfm

Lake City FL Real Estate - Land Liquidation Sale

I wanted to take a minute & let you know about a sale we are having. This is our Land Liquidation Sale!!!. I have a list of listings that the sellers are very motivated & have authorized me to liquidate their properties at unheard of prices. These are all priced below market value for Columbia County, FL / Lake City, FL area. Check out the list below & regardless if this is the exact type of property you are looking for, these are incredible deals to check out. Otherwise forward these to anybody that you may know that may be interested. NOW is the time to get a deal.

• Lot 3 - Sylvi Cir - Star Lake Subdivision. This is a .58 acre LakeFront Lot. Originally priced at $84,000. This has been reduced to $39,900. You simply will not find another quality Lake front lot at this price. Seller needs quick cash closing. This is a deal!!MLS 66648.
  
• Olivia Court. This is a construction development opportunity. 1.66 acres. Priced at $29,900, and bring any offer. Zoned RSF-3, 8 units per acre zoning, preliminary plat NOT filed shows 8 possible building lots, or build off existing road. MLS 63259.
  
• Explorer Glen - Plenty of room to raise horses or a few other animals.. 16.17 acres priced at only $6178 per acre. $99,900 list price. NEW Listing. MLS 67962. Well, Septic on property per owner. Ft. White, FL area. One of the best prices in the county for acreage this size. Massive price reduction from original listing.
  
• Happy Jack Dr. - Several 10 acre lots available. BEST PRICE in THE COUNTY!!! for 10 acre tracts. Priced at only $53,000 for Lots 6 & 8, and $58,000 for Lot 7. MLS 64578. Only about 10-15 minutes from Lake City. Great Value.
  
• Lot 5 - Gideon Pl. This is a 10 acre parcel with 2 homesites already setup.. 2 wells, 2 power poles, 2 sceptics, Reduced by over $45,000 for buyer to take advantage of this. Priced at $69,900. MLS 65364.
  
• Haygood Loop. Multi-Family Development opportunity. Priced at $89,900, this is a 1.4 acre parcel. It is zoned & land use for 8 units per acre. Good locations, very close to schools, High & Dry. Multi-Family is great for Lake City, FL. Good demand MLS 61057.
  
  
• Horse Way. 5 acres close to Lake City, Mostly pasture. New Listing. Priced at only $49,900. MLS 67926. Great value, Great location in north central Florida.

Email me back for a map & a flyer on any property you are interested in. I will be personally coordinating all offers for the above properties, so contact me right away with questions, and about putting in your offer.
More Good Deals on Land & Homes Available at: http://www.chadstewart.com/

FANNIE MAE AND FREDDIE MAC
What does the federal government bailout of Fannie Mae and Freddie Mac mean to home buyers and sellers? Generally, it's a good thing, and brings stability to the mortgage market. Most experts even expect mortgage rates to drop some over the short term, though qualifying for a mortgage will remain a challenge unless the feds tinker with fees or rules.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-090808.cfm

HURRICANES
With most closings shut down by property insurers when a storm is "in the box," some sales may have to be scheduled between bouts of bad weather. Hurricane Gustav is departing only to see new threats from Hanna, a strengthening Ike and newcomer Josephine.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-090308.cfm

RENTERS INSURANCE
Renters insurance isn't a burning issue to most renters. It's often only after a robbery that a policy suddenly seems like a no-brainer.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-082808.cfm

REAL ESTATE ECONOMYI
s this the real estate turnaround? On the heels of an increase in Florida home sales, a spike in new home sales and an upswing in consumer confidence, traffic to Realtor.com went up significantly in July, with traffic 29 percent higher and time spent on the Web site up 26 percent compared to one month earlier.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-082808.cfm

HOME SALES
Single-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida's housing sector, according to FAR's latest housing statistics. NAR also reported that national existing-home sales rose in July to the highest level in five months.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-082508.cfm

PROPERTY INSURANCE
How will homeowners fare with property insurers when seeking repairs for damage from Tropical Storm Fay? There's good news/bad news. Since Fay never became a hurricane, the higher deductibles don't apply. But flood damage is not covered under most policies, and less than half of homesteaded owners have a supplementary flood insurance policy.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-082208.cfm

IN THE BOX
With Tropical Storm Fay bearing down on Florida, most property insurers have stopped writing new policies, which could stall closings scheduled early this week if a mortgage lender demands coverage before releasing money. Florida's property insurer, Citizens Property Insurance, stopped writing new policies on Sunday morning, for example. Most insurers resume writing new policies once tropical storm or hurricane watches and/or warnings have been lifted. "The box" - the geographic area in which policies will not be written - varies among insurers, so it's worth a phone call for any closings scheduled during a storm. For more hurricane info, visit the floridarealtors.org hurricane page at: http://www.floridarealtors.org/NewsAndEvents/Before-disaster-strikes.cfm.

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

AMENDMENT 5
Gov. Charlie Crist spoke out again in favor of Amendment 5 yesterday during one of his meetings with constituent groups, this time business people. The group included FAR President Chuck Bonfiglio, who thanked Crist for being ''the catalyst'' for Amendment 1, and said that Amendment 5 would be the second part of the tax relief promised by the governor.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-080608.cfm

HOUSING AID
President Bush signed the massive housing bill intended to provide mortgage relief for 400,000 struggling U.S. homeowners and stabilize financial markets. The measure also offers a temporary lifeline to mortgage companies Fannie Mae and Freddie Mac and tightens controls over the two government-sponsored businesses.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-073008.cfm

Nice Site

This is a pretty nice website for flyers, postings your listings to Trulia, Zillow, etc, Its called Vflyer, http://www.vflyer.com/ , Even create cool little widgets like this for showcasing your listings.

Positive Movement in Home Sales

Well its not as bad as you hear in the national media. Check out this article from Florida Associateion fo REaltors. Numbers keeping somewhat steady, although we are still seeing frequent price reductions for motivated sellers.

HOME SALES

Many Florida Realtors reported positive movement in their local housing markets in June, with the statewide median price for both existing home sales and condo sales up 1 percent over the May 2008 figures, according to FAR's latest housing statistics. The statewide existing-home median price last month was $205,500; the statewide median condo price was $183,700.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-072408.cfm

Lake City FL Commercial Medical Complex for Sale

Lake City FL Medical Office Complex For Sale or For Lease
Hello,
Doing a little listing marketing blogging today....
Here is my latest big listing...$6,900,000. The property is for sale or for lease.

http://www.halloffamedrive.com/ -- Website for complete property information.
Southern Mediplex is a 34,000+ sq ft 9.7 acre complex with innovative solutions for medical & health services. Property consists of 3 buildings including: a 2 story, 24,126 sq ft out-patient/office; a single story 6,285 sq ft Surgery center, and a 3,990 free standing building. Incredible location in Lake City, FL, near Hwy 90 & I-75. Information available regarding leases, current occupancy, floorplans, & more.

http://www.chadstewart.com/
Chad Stewart - Westfield Realty Group - Real Estate Broker Associate in Lake City, FL.

Selling a Home in a Hurry Still PossibleThink those days of selling a house in 48 hours or less are over? Some houses can still sell fast.

http://www.realtor.org/RMODaily.nsf/pages/News2008070703?OpenDocument

Columbia County - Lake City FL Schools

8 county schools earn ‘A’ ranking
High scores could relate to more money from state.

http://www.lakecityreporter.com/articles/2008/07/09/news/doc4874318f01c9d119325501.txt

Columbia County schools marked significant improvement for the 2007-2008 school year, with eight of the 12 schools in the district scoring an “A” for the year, and the school district attained a “B” for the first time since district grades were implemented.

MORTGAGES
The Federal Reserve will issue new lending rules next week to protect future homebuyers from shady lending practices. The plan would apply to new loans made by thousands of lenders of all types, including banks and brokers.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-070908.cfm

REOs
While it's impossible to predict the future of median home prices, some experts don't think REOs will decline any more since banks are cutting such great deals right now.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-070808.cfm

SELLER SERVICES
It's a buyer's market, but sellers can increase the chance of a sale in today's climate by working with a Realtor and considering these eight things.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-070108.cfm __________________________

Enthusiasm keeps practitioner on top
TAMPA, Fla. – July 1, 2008 – Blucher Bridges, a sales representative for Standard Pacific Homes in the Seven Oaks community in Wesley Chapel, Fla., recently sold his 300th new home.

http://www.floridarealtors.org/NewsAndEvents/n4-070108.cfm

Real Estate Sales Increase.. Read on...

This is a VERY positive article. Note the increase of sales, and the slight decline in pricing from a year ago...BUT notice the 34% increase in prices over a 5 year period which is 7% per year.

Sales up, prices up, interest rates low. This is a great time to be in the real estate business.


http://www.floridarealtors.org/NewsAndEvents/n1-062608.cfm

Fed leaves rate means good news for real estate market.

Fed leaves rates unchanged....
Central bank ends nine-month course of rate cuts as it cites rising inflation risks and hints at a rebound in the economy.

This means that now is a great time to buy real estate, especially in the Lake City, FL area.

http://money.cnn.com/2008/06/25/news/economy/fed_decision/index.htm?cnn=yes

Online Home Values

ONLINE HOME VALUES
Consumers love real estate Web sites that offer an immediate estimate of a home's worth, and some Internet users are almost addicted to seeing fluctuations in their home's value. One problem, however: The percentage of error is still "very large," making any single home's estimate almost worthless.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-062308.cfm

Mortgage Fraud Crackdown

See the article below, this is a big part of why the mortgage industry was in such a termoil.
from Chad Stewart - Lake City Florida Realtor & Blogger.
www.chadstewart.com

MORTGAGE FRAUD
At least 22 people in Miami-Dade have been arrested on federal mortgage fraud charges in recent weeks, pushing the total to 102 people charged since September. In 2007, there were 47,000 "suspicious activity reports" in Florida, which leads the nation in the number of reports. In 2003, there were only 7,000 - an increase of more than 570 percent.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-062008.cfm

Housing Aid

HOUSING AID
Major mortgage lenders have agreed to streamline and speed up the process for assisting distressed homeowners following criticism that they're too slow and sometimes unresponsive. Under new guidelines, homeowners seeking help can expect an answer within 45 days.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-061708.cfm

Analyst paints rosy picture for S. Fla. real estate agents

Analyst paints rosy picture for S. Fla. real estate agents
CORAL GABLES, Fla. – June 16, 2008 – Home prices in South Florida “easily” could be 20 percent to 30 percent higher by 2013, the chief economist for the National Association of Realtors said Thursday.Addressing local real estate agents during a conference at the Biltmore Hotel in Coral Gables, Lawrence Yun countered the persistent pessimism of experts who insist the region’s housing market will continue to struggle before rebounding slowly during the next few years.USA Today recently identified Yun as one of the nation’s top 10 analysts on a list measuring accuracy in forecasting. But real estate observers say he is overly optimistic because he works for the national Realtors’ group, whose goal is to promote home sales.

http://www.floridarealtors.org/NewsAndEvents/n3-061608.cfm

Selling your home means being realistic in down market FORT LAUDERDALE, Fla. – June 16, 2008 – Setting the right price for a home sounds simple, but too many sellers aren’t doing it.They insist that their properties are special and holding value, even though the median prices for existing homes have plummeted 26 percent and 24 percent, respectively, in Palm Beach and Broward counties since late 2005.These stubborn sellers ask for too much money, ignoring the list prices of nearby homes, not to mention their real estate agents’ advice. It’s a short-sighted strategy, one that ultimately costs tens of thousands of dollars in a depressed housing market like South Florida, agents say.

http://www.floridarealtors.org/NewsAndEvents/n4-061608.cfm

TECHNOLOGY Check it out: Tech analysts are praising the new iPhone's business applications, saying it poses a real challenge to the BlackBerry and other corporate cell phone systems for the first time. For example, unlike its predecessor, the 3G iPhone can connect with most corporate e-mail systems and handle Microsoft PowerPoint presentations.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-061108.cfm

HOMEBUYER TAX CREDIT NAR testified Thursday that a temporary tax credit would be the best incentive to move hesitant homebuyers into the market, basing its support on the success of a 1975 temporary tax credit that jump-started a slow housing market.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-060908.cfm

PENDING SALES NAR's Pending Home Sales Index, based on contracts signed in April, rose 6.3 percent to stand at 88.2 from a reading of 83.0 in March - the highest index since last October. According to NAR's latest forecast, a modest gain in home sales is possible over the next couple months, and the second half of this year should see some improvement as more buyers are able to access affordable mortgages. Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-060908.cfm

PROPERTY INSURANCE State officials issued a final decision Friday rejecting Hartford Insurance Co. of the Midwest and its affiliates' request for an average property insurance price increase of 40 percent. The Hartford decision is part of a campaign to "protect Florida consumers from unwarranted rate increases," Insurance Commissioner Kevin McCarty said in a statement.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-060308.cfm

PROPERTY TAXES It appears that Florida cities aren't hurting too much from the property tax cuts created by January's Amendment 1 thanks to the number of commercial enterprises. But suburban and rural areas have lost more funding since private homeowners benefited more from the tax cuts, and many local governments say they must raise tax rates or cut spending.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n4-060308.cfm

Real Estate in Lake City,

Brand new never been lived in house built by Whiddon Construction on Two (2) acres!!! Priced at $239,900. Home is for sale in Lake City, FL.

Brand new house on two (2) acres !!!

Stone & hardy board house was built by Whiddon Construction. Great floor plan, great room wi vaulted ceiling, 18’4” x 12’8” master, his/her closets, wood floor in dining room, screened porch, sprinkler system, landscaping & sod, security system.

Must see this area with lots of room for kids to run, horses, ATV, gardening, etc. Tranquil rural area, but still short drive to town. Scattered oaks in the front of the lot & pasture land in the back. Call your Realtor for floor plan or tour.

THAR' SHE BLOWS. OR NOT.Government forecasters officially predict six to nine hurricanes in 2008, with up to five becoming major storms. However, forecasters say the chances for an above-average season are about 65 percent; the chances for a normal season about 25 percent; and the chances for a slow season about 10 percent, making the outlook sound almost like a guess. Coupled with two recent years of above-average forecasts and below-average storms, Floridians may be getting confused. Two major points must be made, however: One, it doesn't matter if there is only one major storm in 2008 should that one major storm hit your home. Two, less-than-accurate forecasts could make Floridians apathetic about hurricane preparations and forget that they live on a peninsula that sticks out into the ocean like a giant hurricane "Kick Me" sign. Every state homeowner should prepare for the worst even as they hope for the best. For more information, visit floridarealtor.org's "Hurricane Information and Resources" page at: http://www.floridarealtors.org/NewsAndEvents/Before-disaster-strikes.cfm.

Florida existing home sales improve in April compared to March 2008ORLANDO, Fla. – May 23, 2008 – Florida Realtors® statewide reported an upswing in existing home and condominium sales from March to April 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR). A total of 11,200 existing single-family homes changed hands in April, a 20 percent increase over the previous month when 9,330 homes sold. Existing condo sales statewide rose 21.6 percent, with 3,900 units sold in April compared with 3,207 condos in March.

http://www.floridarealtors.org/NewsAndEvents/n1-052308.cfm

COMMERCIAL According to the latest NAR Commercial Member Profile, commercial members experienced a 7 percent jump in median sales volume for 2006, reaching a median of $2.249 million in sales. Selling land was the single largest commercial specialty for respondents, accounting for 19 percent.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-052108.cfm

CHARITY The foreclosure problem has given something good to the country's best-known housing charity: Cheap properties for sale. Some Habitat for Humanity chapters have seized the buying opportunities.Read the full story: http://www.floridarealtors.org/NewsAndEvents/n5-052208.cfm

From Florida Realtors.org HOME SALES Florida Realtors reported positive signs in their local housing markets during first quarter 2008, noting a slower rate of expansion for inventory levels and an increase in pending home sales in some areas. Another positive note: A total of 8,581 existing condos sold statewide during the quarter, up 8.3 percent over fourth quarter 2007. "If we look at what is happening month-over-month for 2008, it appears that the bottom may be here," says 2008 FAR President Chuck Bonfiglio. "We are now seeing more activity, more sales and even prices starting to rise in some markets."Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n1-051308.cfm

GETTING BETTER ALL THE TIME
According to Realty Times, Florida real estate experts say the state's housing market is showing signs of recovery, despite falling residential prices and rising foreclosures and short sales. They note that inventory is expanding at slower rates, and home sales are on the rise in some markets. The Realtor Association of Greater Fort Myers, for instance, reports an 85-percent surge in pending single-family home sales in its area during the past 10 weeks. Meanwhile, pending sales jumped 65 percent in February from January in Fort Lauderdale, and 30 percent in March from the prior month in Palm Beach County.Source: Realty Times (05/09/08) Carr, M. Anthony © Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

HOMESELLERS
It's a challenge to sell a home in today's market, but the battle eases considerably with careful preparation. Sellers should focus on the top 10 issues. Curb appeal, kitchens, bathrooms and doors head the list.Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n5-050508.cfm

Wow, billion dollar home in India...
Check out this article from Forbes

http://www.forbes.com/2008/04/30/home-india-billion-forbeslife-cx_mw_0430realestate.html

Daily Real Estate News May 1, 2008 The First $2-Billion Home Is Coming The world’s largest and most expensive home will be completed in January.The 27-story skyscraper in downtown Mumbai, India, will be the residence of Mukesh Ambani and his wife Nita. Ambani, head of Mumbai-based petrochemical company Reliance Industries, is the fifth richest man in the world.The couple who have three children, are custom designing their $2 billion property with help from architecture firms Perkins + Will and Hirsch Bedner Assoc., based in Dallas and Los Angeles respectively.The home will have 400,000 square feet of interior space, nine elevators, a ballroom and a section for security guards and assistants to relax.There will also be an ice room where residents and guests can escape the Mumbai heat and be dusted by man-made snow flurries.Source: Forbes, Matt Woolsey (04/30/2008)

http://www.forbes.com/lists/2008/10/billionaires08_Mukesh-Ambani_NY3A.html

MORTGAGE RATES Rates on 30-year mortgages remained above 6 percent and almost unchanged this week. Experts polled by Bankrate.com generally agree that rates will increase or remain steady in the short term.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-050208.cfm

HOMEBUYERSSome programs for first-time buyers still offer slightly more lenient underwriting standards that make it easier to get into a home, or discounted interest rates that make homeownership more affordable. But it's harder to find first-timer mortgages today.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n3-043008.cfm

What a deal! Perfect for FHA financing. Home features R13 wall insulation for efficiency, oak kitchen cabinets, 25 year shingles, fenced back yard. Call Chad Stewart, http://www.chadstewart.com/ for 386-487-1463 . $118,900.

FHA: New government data shows that claims on FHA mortgage insurance, which is backed by the government to prevent foreclosures, rose by 61 percent last year compared to five years ago. These payoffs allowed more than six in 10 homeowners who defaulted on FHA-insured loans to stay in their homes.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-042808.cfm

HOME SALES
Florida Realtors statewide reported slight gains in existing home and condominium sales from February to March 2008, according to FAR's latest housing statistics. A total of 9,142 existing single-family homes changed hands in March, a 10 percent increase over the previous month. Statewide existing condo sales totaled 3,145 in March, up 13.7 percent compared to February's sales.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-042208.cfm

Lake City among country’s hottest markets
Magazine rates area as No. 47 for doing business.
By TROY ROBERTS
www.lakecityreporter.com

Lake City was named one of the top 100 small business markets in the south — coming in at No. 47 — in the April issue of Southern Business and Development magazine.Lake City was second on the list in the state of Florida behind Palm Coast.

This is the second time in the past decade that Lake City has been named one of the top small business markets by this magazine, said Jim Poole, executive director of the Lake City-Columbia County Chamber of Commerce.“This is based on the number of actual deals or company locations within your community that has created a minimum of 200 jobs,” Poole said.

He said the scoring is done during the course of a five-year time frame, and new industries in Lake City such as Hunter Panels, New Millennium Building Systems, U.S. Cold Storage and Target helped Lake City place on the list again.Ranking businesses east of Texas and south of West Virginia, the magazine ranked communities similar in size to Lake City, Poole said, and noted that many of the communities were larger than Lake City and very few, if any, were actually smaller.

Lake City being named to the list could help future expansion, Poole said, as companies looking to relocate into the South or into Florida will see Lake City’s high ranking.

“The last time (we were named to the list), it definitely helped us because people began to realize where we were, and began to look and see who is here and what’s happening and why this community was emerging,” he said.“I think that will continue,” Poole said.

“The magazine goes out to site developers, company locators, people looking for new locations for businesses; when they go through the businesses on the list, they’ll see how well we did within the state and southern markets.”

PENDING HOME SALESNAR released its pending home sales and outlook this morning, with Chief Economist Lawrence Yun predicting little change over the next few months followed by an upswing in sales in the second half of the year.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n5-040808.cfm

Canadians, especially those who live in U.S. border areas, are snapping up vacation homes in the U.S. as the Canadian dollar gains value against the declining American dollar. According to NAR, the largest number of Canadians head to Florida, with California ranking second.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-040808.cfm

Title: 5 Tips for Buying a Home in a Down Market
URL: http://www.bankaholic.com/2008/buying-home-down-market/

MARKET WATCH: GAINESVILLEIn Gainesville, some positive signs have recently emerged about median home prices and existing home sales. "I think we're heading in the right direction," says Craig McCall, president-elect of the Gainesville Alachua County Association of Realtors. More buyers, McCall says, are beginning to look at properties, and agents are starting to receive more offers.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-040108.cfm __________________________

HOMEBUYERSRecognizing that the current market favors buyers, 77 percent of respondents in a MarketTools survey said that the time is right to buy a home - a 20 percent increase compared to a similar January survey.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-032608.cfm __________________________

Breaking News

Home sales rose by 2.9 percent in February, the first increase after six straight declines, trade group reports.
from Cnn.com today 3-24-08

HOME VALUESThe real estate mantra of "location, location, location" rings particularly true in a slow market. Encourage your buyers to do their research, because choosing the right neighborhood could have a big effect on whether or not their home turns out to be a winning investment.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-031708.cfm

STUDY SAYS: MILD HOUSING RECOVERY ON THE WAYIt looks like the housing market may have hit bottom, setting the stage for a mild housing recovery to begin prior to year-end 2008, according to a new study by SMR Research Corp. The market's recovery is likely to be gradual, with house prices merely firming up or increasing slightly, rather than returning to the strong growth seen from 2002 to mid-2006, the firm said. An SMR study was among the first to declare (in 2002) that a housing price bubble existed, defined as prices rising faster than consumer incomes. In a 2004 study, SMR forecast that a "perfect storm" in credit quality would cause an explosion in foreclosures within two years. SMR specializes in mortgage and home equity loan industry research. "Our prior forecasts were accurate but widely disbelieved when issued," says SMR President Stuart A. Feldstein. "We similarly expect a skeptical reaction now to a recovery forecast, which is not the common view. But the numbers are what they are." The new recovery forecast was published within SMR's annual spring study. "Homes are now affordable again," Feldstein says. "Consumer psychology is the biggest remaining hurdle to recovery." © 2008 FLORIDA ASSOCIATION OF REALTORS