Tuesday, September 28, 2010

Mortgage Rates Regions bank

From the desk of Alan Vanderheiden

Senior Mortgage Advisor

Regions Mortgage

1409 Sadler Road

Fernandina Beach, FL 32034

904-277-3232 (office) 904-335-0500 (cell) 904-277-2261 (fax)


September 28, 2010

FNMA 30 Year Fixed: 4.125%

FNMA 15 Year Fixed: 3.625%

USDA / FHA / VA: 4.25%

Hello Friends,

I usually don’t sell on mortgage rates. However, pricing is so attractive today I wanted to touch base with you all.

I heard that Washington declared the recession was over a couple of weeks ago. I don’t know about you but it sure doesn’t feel over. There is still a ways to go before I feel better about our industry and economy.

Several reasons rates continue to be low. In fact these rates I’ve published today are as low as I’ve ever seen. While the government continues to print money to stimulate the economy, inflation continues to stay on the horizon. We are still in a recession….just ask the 6 million people out of work. I believe pricing will remain low until we put folks back to work and they begin spending money. Then we’ll work our way out of the recession and inflation will come roaring in. Rates will move up quickly.

The housing market is about 30% of the economy. Stimulus money did a good job of giving our industry a boost in the spring but now this money is gone we are back to a declining housing market. Whatever Washington does in the future to give us another shot of money can only be a temporary solution. The real improvement in housing will come as people go back to work, are not fearful of losing jobs and have money to spend. Your guess is as good as mine how long this will take.

I am seeing more contracts for second homes and investment properties. Buyers that have money are seeing an opportunity to find real values in housing. The condo market seems to be improving and yes…..we have a program for non-warrantable condos.

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net

Wednesday, September 22, 2010

Tennis Anyone

Reprinted from the Jacksonville Paper
The $10,000 WOmen’s Tennis Championships beginS this weeK on Amelia Island
This USTA Pro Circuit event will be the first at the OMNI-Amelia Island Plantation
Amelia Island, FL – September 20, 2010 –
The 2010 Amelia Island $10,000 Women’s Tennis Championships, a USTA Pro Circuit event, begins this week at the Omni Amelia Island Plantation.

Sunday, September 26 – Monday, September 27: Qualifying Rounds
Tuesday, September 28 – Friday, October 1: Main Draw
Saturday, October 2: Singles Semi-finals and Doubles finals
Sunday, October 3: Singles Finals

“The women who will be playing here in September are at the top of their game, and we are looking forward to watching the next generation of great players. The USTA Pro Circuit events in the tennis world inspire community spirit like the best minor leagues of professional baseball,” said Kelly Gunterman, Director of Tennis at the OMNI Amelia Island Plantation and Tournament Director for the USTA Pro Circuit events.

Admission to the tournament will be free from Sunday through Friday. Saturday, October 2 and Sunday, October 3, the Fernandina Beach Rotary Club will sell the admission tickets ($10) onsite, to support their not-for-profit programs.

VIP tickets, which will include VIP tent and reserved seating for Friday, October 1- Sunday, October 3, are available for $75 per ticket. A portion of the proceeds will benefit Tennis Without Borders, helping students pursue life opportunities on and off the court.

Tennis Without Borders will also be accepting donations of used racquets (any size, any year, any style).

On Saturday, October 2, Brooks Rehabilitation will be onsite offering free orthopedic musculoskeletal screenings by a licensed physical therapist.

For tournament and ticket information, contact Kelly Gunterman at gunterman.kelly@aipfl.com, (802) 345-9842 or (904) 277-5145.

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com

Monday, September 20, 2010

JD Power Ratings

Prudential Real Estate and Relocation Services President Earl Lee at Summit Conference today unveiled a “microsite” through which sales professionals can share detailed information on the Network’s recent J.D. Power and Associates award for “Highest Overall Satisfaction for Home Sellers Among National Full Service Real Estate Firms.”

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com

Wednesday, September 8, 2010

Jacksonville Area Real Estate Report

Jacksonville, FL – Job Worries and Tight Lending
Limit Pool of Buyers
(3,320 single-family permits in 2009, 23rd largest market in the country)

Buyer traffic remains at depressed levels. Buyer traffic inched up in August, as our
traffic index improved to 20 from 18 in July, but remains at depressed levels well below agents’ expectations (any reading below 50 indicates traffic levels below expectations). Agents primarily cited the challenging jobs environment as well as difficulty getting buyers qualified for loans as the reasons for the weak traffic levels. One agent noted, “Lenders are too strict on financing still.” Another agreed, saying buyers were worried about, “getting loan approvals and job security.” A third agent also had similar comments, noting traffic was less than expected due to, “unemployment and job insecurity.” One agent who saw healthier traffic trends said “low prices” were the driving force.

Home prices fall further as inventories increase. Home prices continued to decline in August, as our home price index fell to 22 from 25 in July, with readings below 50indicating lower prices over the last 30 days. Weak demand and higher inventory levels contributed to the declines. Our home listings index dropped to 35 in August from 54 in July, indicating a further rise in inventories following temporary stabilization last month(readings below 50 point to higher inventory levels). In addition, our time to sell index (a leading indicator of home prices reflecting both demand and inventory trends) deteriorated further in August. Our index fell to 25 from 39 in July, with readings below 50 indicating a longer time needed to sell a home over the past 30 days. The rising inventory and longer time needed to sell a home point to further price declines in the coming months.

John Holbrook - Realtor
Prudential Chaplin Williams Realty
Amelia Island, Florida 32034

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com