Tuesday, June 28, 2011

75% of Americans support homeownership

WASHINGTON – June 15, 2011 – Nearly three out of four American voters believe that it’s reasonable and appropriate for the federal government to provide tax incentives to promote homeownership, a sentiment that cuts across partisan and regional lines across the country, according to a recent poll conducted on behalf of the National Association of Home Builders (NAHB).

Further, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive.

“Despite the current housing downturn, Americans still see homeownership as a core value and key building block,” says Celinda Lake, president of Lake Research Partners, which conducted the survey along with Public Opinion Strategies. “The bottom line: The bipartisan consensus outside the Beltway is that owning a home remains an essential part of the American Dream, and voters would strongly oppose any efforts by lawmakers to increase barriers to homeownership.”

Two thousand likely 2012 voters were surveyed from May 3 through May 9. Among the poll’s key findings:

• 73 percent of all respondents – both owners and renters – believe the federal government should provide tax incentives to promote homeownership. This support for housing runs strong among all party affiliations, with 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreeing.

• 71 percent of voters oppose proposals to eliminate the mortgage interest deduction, and 63 percent oppose efforts to reduce it. A majority also oppose eliminating the deduction for interest paid on home equity loans, ending the deduction for interest paid on a second home, limiting the deduction for those earning more than $250,000 per year or capping the deduction for homeowners with mortgages over $500,000.

• By a more than two-to-one margin (57 percent to 26 percent), voters said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction. These figures held firm across the political spectrum, with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.

• Even when told that getting rid of the mortgage interest deduction would help ease the federal budget deficit, 65 percent of voters opposed any proposal to abolish the housing tax provision. This strong consensus cuts across partisan lines, with 69 percent of Republicans, 69 percent of Independents and 59 percent of Democrats opposing eliminating the deduction.

• Saving for a downpayment and closing costs is the biggest barrier to homeownership.

• Among voters who are aware of proposals under consideration by Washington policymakers to raise the downpayment requirements for a home loan, 92 percent believe it will make it more difficult to buy a home. Six federal agencies are proposing a national standard to require a minimum 20 percent downpayment, which would be opposed by households most likely to be affected – mortgage holders and renters ages 18 to 54. Among voters in these age groups, 59 percent of renters and 58 percent of those holding a mortgage oppose adding that obstacle to buying a home.

• 81 percent of voters agree on the need to promote policies that encourage homeownership in order to rebuild the middle class and 83 percent believe that a strong housing industry will provide more jobs and strengthen the economic health of local communities.

• 75 percent of voters say that owning a home is the best long-term investment they can make.

• 73 percent of voters who do not now own a home say that it is a goal of theirs to eventually buy a home.

• An even greater percentage of homeowners – 95 percent – say they’re happy with their decision to own a home and believe that owning a own home is important.

© 2011 Florida Realtors®

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

Demand for rentals increases

SAN ANTONIO, Texas – June 20, 2011 – The downturn in the economy has changed the way people live and think about real estate, forcing many to become renters and sending adult children back home to live.

Three economists at the National Association of Real Estate Editors conference last Friday said those trends could affect the residential real estate market for years to come.

And that double dip you’ve been hearing about in the housing market? Never happened. The market’s still on it’s way down, they agreed.

The sluggish job market, falling home prices and persistent foreclosures have driven up demand in the rental market, especially in hard-hit areas such as Tampa Bay, said Stan Humphries, an economist with Zillow.com.

Foreclosed homeowners are often forced into the rental market. More adult children are moving back home with their parents and more elderly are moving in with their kids, Humphries said.

There’s also an uptick of multiple families moving in together to help make ends meet, he said. This increase in rental demand will translate to higher rental rates this year, said Humphries who predicts rental rates will increase 3.5 to 4.5 percent in 2011, compared to the previous year.

At the same time, Humphries said 1.2- to 2.2-million people will transition from owners to renters over the next couple of years.

Humphries’ other panelists, Jed Smith, an economist with the National Association of Realtors and Mark Dotzour, an economist with Texas A & M Real Estate Center, agreed.

Housing prices are now falling, after a brief period of what looked like stabilization late last year, but all three economists said the nation isn’t experiencing a double dip.

“We never hit bottom in the first place,” Dotzour said.

Dotzour and Smith, with the Realtors, said government intervention, such as tax credit incentives for buyers and failed mortgage modifications, actually made things worse in the long run.

“We like capitalism on the way up and socialism on the way down,” Dotzour said. “And we’re paying for it now.”

Humphries said the government spent $15 billion to $20 billion on tax credits, and “we’re paying all that back.”

The bright side of this continued downturn is that multi-family developers will benefit, the economists said.

Multi-family housing starts are up, and developers are preparing for additional increase in demand, Humphries said.

As foreclosures increase and are resold to people who want to live there, rather than to investors, prices will stabilize. When that happens, he said, single-family demand will increase, too.

But it’s unclear how long it will take for that to happen, Dotzour said.

“Why would a bank wait 24 months to start the foreclosure process?” he said.

Banks are still taking too long to foreclose, he said, adding that the market won’t be stable until all the foreclosure inventory is reabsorbed into the market.

When things have improved, though, Humphries said, the housing landscape in most metros will look different. That’s particularly true, he said, in areas like Tampa Bay, where builders constructed thousands of new homes on the outskirts of the city.

“People want to live closer to cities and in smaller homes,” Humphries said. “A lot of the housing stock in the suburbs don’t speak to that demand.”

That may mean more redevelopment near downtown cores.

Copyright © 2011, Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services.

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

Update personal items inventory records

When homeowners lose everything in a disaster, they assume their home insurance will cover everything lost. But without documenting all your belongings, you may never recover all of your losses, experts note. As a recent article at AOL Real Estate notes “a claim is only as strong as the inventory list.”

As such, good record-keeping is critical. A basic pen-and-paper list stored in a safe deposit box can suffice. The list should include everything from bedsheets to clothes to furniture. However, if a home is destroyed, the pen-and-paper list may be destroyed too.

Some Web sites are popping up to help homeowners create an inventory record-keeping list that can be stored on remote servers and accessed from anywhere. One Web site, DocuHome.com, allows homeowners to upload room photos and then tag furniture and belongings. You can then create an inventory spreadsheet from all of the tags and enter values or other notes on items.

Source: “Tag Your Home Photos for Better Insurance Claims,” AOL Real Estate

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

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

Florida Realtors: Homeowners should take summer safety precautions

ORLANDO, Fla. – June 28, 2011 – Many families across Florida and the rest of the nation will spend the Fourth of July holiday away from home, basking on the state’s beautiful beaches, traveling to see relatives or maybe just visiting friends for a backyard barbecue.

To fully enjoy those activities and other summertime pursuits spent away from home, Florida Realtors® suggests that homeowners take precautions to safeguard their residences when they’re not around. Crime rates across the country often start to peak as temperatures rise during warm weather months – the same time that many families leave their homes unoccupied and unprotected.

“A home is the biggest financial investment that most people will make in their lifetimes, but it is also the place where they raise their families, build memories and share their dreams for the future,” says Florida Realtors® 2011 President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “It just makes sense to take steps to protect something so priceless.”

Homeowners can take these simple precautions to make their homes less of a target for criminals:

No home alone: Before leaving your home during the day, make it look as if someone is still at home by using timers on lights in various rooms. Even though daylight hours are longer during the summer, it may still get dark faster than you expect or you may return home later than anticipated, and taking this step ensures that your home appears occupied at all times.

No open door policy: Ensure that all doors leading to the home and garage are locked, even when leaving for short periods of time. The typical burglary takes less than five minutes, and unlocked doors, combined with an empty home, put out the “welcome mat” for crime.

Someone to watch over me: Be landscape smart. Shrubbery and other plants can grow very rapidly during the warm, wet summer months, so keep them trimmed to allow your neighbors to keep an eye on your home. Also, an unkempt yard could be viewed as a sign of an empty home to a burglar.

A key reminder: When leaving home, take your house keys along or leave a spare set with a trusted neighbor. Never leave a key under a welcome mat, in a mailbox or other hiding spots – most burglars know where to look.

Crime doesn’t take a vacation: If you’re planning to be away from home on vacation for more than a day or two, ask a neighbor to park a car in your driveway and pick up your mail and newspapers – or be sure to make arrangements to cancel the paper and hold the mail. Disable your garage door opener and manually lock it from the inside, and don’t forget to check that the door leading from the garage to the home is locked, too.

© 2011 Florida Realtors®


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

Spring buying boosts home prices in 13 U.S. cities

WASHINGTON (AP) – June 28, 2011 – Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.

Prices rose in 13 of the 20 cities tracked by the Standard & Poor’s/Case-Shiller home-price index, according to the April report released Tuesday. Washington, D.C., saw the biggest price increases, followed by San Francisco, Atlanta and Seattle.

The index, which covers metro areas that include about 50 percent of U.S. households, rose 0.7 percent. It marked the first increase since July. The index measures sales of select homes in those cities compared with prices in January 2000 and provides a three-month average price. The April data is the latest available.

Last summer prices rose nearly 4 percent before falling more than 7 percent to new record lows this winter. Home prices in big metro areas sank in March to their lowest since 2002. Since the bubble burst in 2006, prices have fallen more than they did during the Great Depression.

The positive data released Tuesday came with a caveat: It was not adjusted for seasonal factors. When looking at seasonally adjusted numbers, prices actually fell.

David M. Blitzer, chairman of Standard & Poor’s index committee, cautioned that while the price index increase was a “welcome shift from recent months,” much of the improvement was likely because of the beginning of the traditionally busy spring and summer home-buying seasons.

“It is much too early to tell if this is a turning point or simply due to some warmer weather,” he said.

Despite the gains in other cities, six metro areas are at their lowest levels in nearly four years. Those markets are: Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa.

Analysts said the report hardly signaled an end to the falling home prices. They noted that homeowners are mostly unwilling to sell given the widespread declines in home values. And nearly 2 million foreclosures could hit the market over the next two years.

“It’s hard to sell when buyers have the leverage and foreclosures continue to create a gap between distressed sale prices and non-distressed sale prices,” said Jonathan Basile, director of economics at Credit Suisse Securities.

Homes in foreclosure sell at a 20 percent discount on average, which can hurt prices in neighborhoods. Many foreclosures have been delayed while federal regulators, state attorneys general and banks review how those foreclosures were carried out over the past two years.

Housing remains the weakest part of the U.S. economy.

Sales of previously occupied homes sank in May to a seasonally adjusted annual rate of 4.81 million. That’s far below the roughly 6 million sold in healthy housing markets. Since the housing boom went bust in 2006, sales have fallen in four of the past five years.

New-home sales haven’t fared any better. They fell in May to a seasonally adjusted annual rate of 319,000 — fewer than half the 700,000 that economists say must be sold to sustain a healthy housing market. Sales of new homes have fallen 18 percent in the two years since the recession ended. Last year was the worst for new-home sales on records dating back half a century.

Larger downpayment requirements, tougher lending standards and high unemployment are preventing people from buying homes. Many people who can afford to buy are holding off, worried that prices have yet to bottom out.

The depressed housing market has weighed on the broader economy. Declining home prices have kept people from selling their houses and moving to find jobs in growing areas. They have also made people feel less wealthy. That has reduced consumer spending, which drives about 70 percent of economic activity.
Copyright © 2011 The Associated Press, Derek Kravitz, AP business writer. All rights reserved.

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

Thursday, June 23, 2011

How To Prepare Your House For Sale

1. Disassociate Yourself With Your Home.
Say to yourself, "This is not my home; it is a house -- a product to be sold much like a box of cereal on the grocery store shelf.
Make the mental decision to "let go" of your emotions and focus on the fact that soon this house will no longer be yours.
Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
Say goodbye to every room.
Don't look backwards -- look toward the future.

2. De-Personalize.
Pack up those personal photographs and family heirlooms. Buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they can't do that if yours are there! You don't want to make any buyer ask, "I wonder what kind of people live in this home?" You want buyers to say, "I can see myself living here."

3. De-Clutter!
People collect an amazing quantity of junk. Consider this: if you haven't used it in over a year, you probably don't need it.
If you don't need it, why not donate it or throw it away?
Remove all books from bookcases.
Pack up those knickknacks.
Clean off everything on kitchen counters.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Think of this process as a head-start on the packing you will eventually need to do anyway.

4.Rearrange Bedroom Closets and Kitchen Cabinets.
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:
Alphabetize spice jars.
Neatly stack dishes.
Turn coffee cup handles facing the same way.
Hang shirts together, buttoned and facing the same direction.
Line up shoes.

5. Rent a Storage Unit.
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. You don't want buyers scratching their heads and saying, "What is this room used for?"

6. Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won't want it. Once you tell a buyer she can't have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

7. Make Minor Repairs.
Replace cracked floor or counter tiles.
Patch holes in walls.
Fix leaky faucets.
Fix doors that don't close properly and kitchen drawers that jam.
Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
(Don't give buyers any reason to remember your home as "the house with the orange bathroom.")
Replace burned-out light bulbs.
If you've considered replacing a worn bedspread, do so now!

8. Make the House Sparkle!
Wash windows inside and out.
Rent a pressure washer and spray down sidewalks and exterior.
Clean out cobwebs.
Re-caulk tubs, showers and sinks.
Polish chrome faucets and mirrors.
Clean out the refrigerator.
Vacuum daily.
Wax floors.
Dust furniture, ceiling fan blades and light fixtures.
Bleach dingy grout.
Replace worn rugs.
Hang up fresh towels.
Bathroom towels look great fastened with ribbon and bows.
Clean and air out any musty smelling areas. Odors are a no-no.

9. Scrutinize.
Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
Linger in the doorway of every single room and imagine how your house will look to a buyer.
Examine carefully how furniture is arranged and move pieces around until it makes sense.
Make sure window coverings hang level.
Tune in to the room's statement and its emotional pull. Does it have impact and pizzazz?
Does it look like nobody lives in this house? You're almost finished.

10. Check Curb Appeal.
If a buyer won't get out of her agent's car because she doesn't like the exterior of your home, you'll never get her inside.
Keep the sidewalks cleared.
Mow the lawn.
Paint faded window trim.
Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
Trim your bushes.
Make sure visitors can clearly read your house number.

- homebuying

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

Top 10 Reasons to Hire a Real Estate Agent

1. Education & Experience
You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros gives us that time.

2. Agents are Buffers
Agents take the spam out of your property showings and visits. If you're a buyer of new homes, your agent will whip out her sword and keep the builder's agents at bay, preventing them from biting or nipping at your heels. If you're a seller, your agent will filter all those phone calls that lead to nowhere from lookie loos and try to induce serious buyers to immediately write an offer.

3. Neighborhood Knowledge
Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.

4. Price Guidance
Contrary to what some people believe, agents do not select prices for sellers or buyers. However, an agent will help to guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

5. Market Conditions Information
Real estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6. Professional Networking
Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.

7. Negotiation Skills & Confidentiality
Top producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good agents are not messengers, delivering buyer's offers to sellers and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.

8. Handling Volumes of Paperwork
One-page deposit receipts were prevalent in the early 1970s. Today's purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!

9. Answer Questions After Closing
Even the smoothest transactions that close without complications can come back to haunt. For example, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don't leave you in the dust to fend for yourself.

10. Develop Relationships for Future Business
The basis for an agent's success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.

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

FHFA House Price Index rises 0.8% in April

WASHINGTON – June 22, 2011 – House prices rose 0.8 percent on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. It was the first month-to-month price increase since May 2010.

The previously reported 0.3 percent decrease in March was revised to a 0.4 percent decrease. For the 12 months ending in April, U.S. prices fell 5.7 percent, and the U.S. index is 19.3 percent below its April 2007 peak and roughly the same as the January 2004 index level.

The FHFA monthly index is calculated by using the purchase price of houses sold to or guaranteed by Fannie Mae or Freddie Mac.

For the nine Census Divisions tracked during the March-April period, seasonally adjusted monthly price changes ranged from -1.3 percent in the Mountain Division to +2.2 percent in the New England Division.

Florida, which is in the South Atlantic division, was one of only three to show a price drop with -0.2 percent.

© 2011 Florida Realtors®

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

All-cash buyers scooping up homes

WASHINGTON – June 22, 2011 – Cash buyers are snapping up homes in markets nationwide, betting that deals won’t get much better.

Last month, all-cash buyers accounted for 30 percent of existing home sales, up from 25 percent in May 2010, and 12 percent two years ago, says the National Association of Realtors.

Cash buyers, who are mostly investors, accounted for at least 30 percent of existing-home sales for the fifth-straight month, the association says. They hit 35 percent of buyers in March.

The cash buyers are enticed by low prices and potential rental income, economists say. But while their activity has helped curb price drops, price increases have yet to follow.

In May, the median price of an existing single-family home fell 4.5 percent to $166,700 from a year ago, the association reported Tuesday. Volume also dropped. Existing home sales in the month including single family, condos and townhouses were down 15 percent from the previous May, when a federal tax credit boosted sales.

Without cash buyers, “We would be in much worse shape than we are,” says Jim Gillespie, CEO of Coldwell Banker Real Estate. “They recognize that this is the smartest time to buy,” because U.S. home prices are 33 percent below their 2006 peak.

Cash buyers are especially prevalent in markets where prices have fallen the most, often areas hard hit by foreclosures.

In Las Vegas, the foreclosure capitol of the U.S. for the past four years, cash buyers accounted for 49 percent of first-quarter sales vs. 20 percent in the first quarter of 1997, says data from real estate site Zillow.com. In that area, home prices are almost 60 percent off their 2006 peak.

In the Miami-Fort Lauderdale area, 63 percent of first-quarter buyers paid in cash, vs. 39 percent in 1997’s first quarter, Zillow says.

Phoenix is also seeing more cash buyers, 44 percent in the first quarter up from 25 percent in the same 1997 period, Zillow data show.

The big numbers are “positive news,” says Stan Humphries, Zillow chief economist. “These are people who’re getting back into the market because they see good value.”

Cash buyers often get better deals because sellers know their offers won’t fall through for lack of financing, says Walt Danley, president of the luxury real estate firm The Walt Danley Group in Arizona. A discount of up to 5 percent is typical, he says.

While Danley sees many foreign buyers paying cash, investors looking for rentals are also big cash buyers.

Given low prices, they can buy homes, rent them and be immediately cash-flow positive, says Paul Dales, an economist for Capital Economics.

© Copyright 2011 USA TODAY, a division of Gannett Co. Inc., Julie Schmit.

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

Tips for a First-time Home Buyer

How a First-Time Home Buyer Can Rate Inventory

Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
Take copious notes of unusual features, colors and design elements.
Pay attention to the home's surroundings. What is next door? Do 2-story homes tower over your single story?
Do you like the location? Is it near a park or a power plant?
Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.

View Top Choices a Second Time Before Buying That First Home

After touring homes for a few days, you will probably instinctively know which one or two homes you would like to buy. Ask to see them again. You will see them with different eyes and notice elements that were overlooked the first go-around.

At this point, your agent should call the listing agents to find out more about the sellers' motivation and to double-check that an offer hasn't come in, making sure these homes are still available to purchase.
Making the Selection To Buy a Home

I'll let you in on a little secret. I generally know which home a buyer is going to choose, and I suspect most other agents operate the same way. It's an intuition. But I make it a practice not to steer buyers, and I insist that buyers choose the home without interference from me. It's not my choice to make.

Real estate agents are required, however, to point out defects and should help buyers feel confident that the home selected meets the buyer's search parameters.

-homebuying

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

Friday, June 17, 2011

Florida Commercial Real Estate Conditions

Reasonable real estate assessments are being made every so often to make sure that any progress is tracked and documented for the benefit of numerous people. Having gone through the first half of 2011, people have been looking back and making reviews on how things have been going, and one segment of the real estate market which has been taken into consideration is that of the commercial real estate niche for the state of Florida.

The past couple of months have proven to be somewhat slow in terms of activity and movement but the trends that have been noticed are definitely positive, especially since its takeoff from the last few months of 2010. In fact, the southern region of Florida has experienced a much faster rate of activity compared to that of its northern counterpart which has not been exposed to as much activity on the commercial real estate market.

It is definitely a good thing for real estate enthusiasts, especially those that are directly involved with the Florida commercial real estate market, to see that things have been able to follow through smoothly since the end of last year and this is something that people are hoping will continue to for the upcoming months.

Should the positive trend in commercial real estate within Florida keep up with the changing times, it is likely that the rest of Florida real estate will follow suit and that would be a very good thing for both the real estate world, and the state itself. Where there are commercial real estate activities going on, people can expect to find some great opportunities and that is always a good thing for any location.

Among the various observations that have been made, people have noticed that there has been a good degree of interest in sublease spaces all across Florida. Also, rental rates for various Florida commercial real estate properties are likely to even out and remain consistent since these rates began to increase from being at a very low range in the past couple of years.

As far as the industrial modes of commercial real estate within the state of Florida, it seems that Miami happens to have displayed some very good changes as the vacancy within the region has dropped from 10.3 percent to a much healthier 7.8 percent.

If things continue to move in the same positive direction that the Florida commercial real estate market has been moving in for the next couple of months — or years — then we can definitely look forward to a better way of life starting with better real estate conditions.

turk . us

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

The Real Estate in the Jacksonville Communities

The Real Estate in the Jacksonville Communities is flourishing as a result of more and more people migrating from the north and expanding our residential market making it one of the “hottest” areas in Florida's First Coast.

Jacksonville and surrounding areas offer a variety of housing options with opportunities to meet everyone’s needs. We have several exclusive neighborhoods highlighting grand estate homes, golf courses, manned gates and more. Families are also attracted to the Jacksonville area due to the excellent school system and athletic programs. As you can see, Jacksonville have it all! Just call me with your needs and I will match you with your perfect home.

-bring you home . com

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

Stars & Stripes festival

Celebrate Independence Day at the Stars & Stripes Freedom Festival in Central Park, Fernandina Beach, on Monday, July 4 from 10 a.m. to 3 p.m., followed by a patriotic parade on Centre Street, a concert of Americana music at the Depot and fireworks at the Fernandina Harbor Marina.

The festival at Central Park will feature a Touch-A-Truck Public Safety display; musical entertainment throughout the day by The Beech Street Blues Band; a Parent-Child Look-A-Like Contest (sign up starting at 10 a.m., contest between 1-1:30 p.m.); an All American Apple Pie Contest with a $100 first prize; teamwork games; Fun for the Kids playground; food and arts and crafts vendors. Parents and kids may make a thank you card to send to a member of the active military and veterans at the Craft Center.

Wear red, white and blue at the Stars & Stripes Freedom Festival Parade at 7 p.m. on Centre Street. After the parade, gather at the Depot at the foot of Centre Street at 8:15 p.m. for a concert of patriotic and Americana folk music, marches and other tunes by the Amelia Arts Academy's New Horizons Band. The annual City of Fernandina Beach 4th of July Fireworks Display can be viewed to the south of the Fernandina Harbor Marina around 9:30 p.m. Bring your own folding chair.

Visit www.shinybadgesball.com under the Stars & Stripes Freedom Festival tab for parade entry information. For more information, to participate, volunteer or to be a sponsor, contact Marty Scott at 753-4467, Arlene Scott at 753-8774, Sandy Price at 206-0756, fax 321-5643, or email shinybadgesball@gmail.com.

-Fernandina Beach News Leader

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

What are the Best Ways to Add Value to Your Home?

A Home Office Remodel
Home offices are becoming less of a luxury and more of a necessity, with more people telecommuting. The number of Americans that work from home is in the millions, and that number has continued to grow every year. With many companies cutting costs and becoming more aware of their carbon footprints, telecommuting has become a viable solution for many in the working world. Making sure that your home has a state-of-the-art space for potential teleworkers is a surefire way to increase your home’s value.

Renovate or Add a Family Room.
With open floor plans becoming more in demand, a family room is an excellent way to make existing homes more like new construction. Remember, it’s a good idea to keep in mind what homes in your area are like. People like to purchase homes that blend with other homes around them. Chances are you’ll find many of your neighbors are investing in family rooms as well.

Replace Old Windows.
Thirty percent of a home’s energy is lost through its windows. Replacing old windows with energy-efficient ones signals to home buyers that you really care about the house and it reflects on the quality of the house as a whole. Plus, who doesn’t like to save money on energy bills?

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

Monday, June 6, 2011

Jacksonville Market Report

Jacksonville, FL – Distress Drives Better Volume as
Buyers Continue to Look for Deals


(3,381 single-family permits in 2010, 26th largest market in the country)
Demand continues to improve on demand for distress opportunities. Buyer traffic
improved further in May, as our traffic index increased to 61 from 54 in April, coming in above agents’ expectations for this time of year (readings greater than 50). Agents continued to stress the crucial role of lower prices in contributing to the better traffic readings as of late. Agents noted that buyers remain drawn to distress properties that “present a good buying opportunity.” One agent mentioned, “I’ve been slammed. My buyers are a combination of investors, relocations and first-time buyers.” Agents also noted that the level of quality inventory has been low, leading buyers to actively seek out the best properties. Low interest rates seem to be sweetening the deal, as several agents noted that a combination of the lower prices with the low interest rates have helped traffic and sales.

Agents mentioned that foreclosures and short sales are the primary drivers of
the region’s demand. Home prices fall as distress drives volume. Prices fell in May despite the improvement in demand, as distress-driven sales volume has kept a lid on any price stabilization. Our home price index fell to 35 from 42 in April, pointing to sequentially lower home prices (readings below 50 point to falling home prices). Meanwhile, our home listings index pointed to a drop in inventory levels, as it came in at 58 (from 39 in April), with readings above 50 pointing to reduced inventory levels. However, we see this as a result of the prolonged foreclosure processes (as a result of the foreclosure moratoria of 2010), and expect distress to lead an increase in inventory levels in coming months. Our time to sell index came in at 42 (from 50 in April), pointing to a slight increase in the length of time needed to sell a home (readings below 50 point to a longer time to sell).

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

www.nassaumls.net
www.johnholbrook.blogspot.com

Wednesday, June 1, 2011

934 18TH STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

934 18TH STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

977 CHAD STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

977 CHAD STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

2064 MARLIN COURT Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

2064 MARLIN COURT Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

1006B NATURES WALK DRIVE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

1006B NATURES WALK DRIVE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

2103 CEDAR STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

2103 CEDAR STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

2019 VILLAGE LANE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

2019 VILLAGE LANE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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

1612 INVERNESS ROAD Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

1612 INVERNESS ROAD Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

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