Monday, October 24, 2011

10 Heron Oaks Court, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$610,000 10 Heron Oaks Court, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

Halloween on Amelia Island

Haunted Happenings From ghost tours to Halloween parties to fall festivals, 'tis the season to get spooky. Here's a list of what's going on in Nassau County: Ghost tours The Amelia Island Museum of History, 233 S. Third St., is offering special ghost tours during the month of October (except for Sundays). It will also host a Haunted Museum Tour on Oct. 28. Guests interested in making reservations for six or more people can call Thea Seagraves at 261-7378, ext.105 for times and dates. For additional details, visit www.ameliamuseum.org. Howl-O-Ween Pawty The second annual Howl-O-Ween Pet Costume Pawty will be held at the Nassau County animal shelter on Oct. 15. Registration begins at 11 a.m. and the judging at 11:30 a.m. This is a free event. All pets must be leashed or in a carrier. First place will be awarded in the following Cat-a-Gories: Most Adorable; Best Look-a-Like (human and pet); Scariest; Most Macho; Best Non-Store Bought Costume; and Best Pet Trick. For information call the shelter at 491-7440. Fall Festival Postponed due to weather, the Fall Festival at Amelia Island Montessori School will now be held Oct. 15. Community yard sale with loads of children's and home items begins at 8 a.m.; festival with carnival games, food and drink and Halloween Costume Corner runs from 9 a.m.-2 p.m. Performances by Kinderstudios and Dance Trance plus $5 unlimited bouncing in bounce houses. Call 261-6610 for information or to participate as a vendor. Visit www.ameliaislandmontessori.com. Holler for a Dollar The Florida State College Nassau Outdoor Education Center, 76346 William Burgess Blvd., Yulee will host the Ninth Annual "Holler for a Dollar" Haunted House Oct. 22, 28, and 29, from 7:30-11 p.m. each night. In addition to the Haunted House, there will be a Haunted Hayride and Haunted Forest. Admission is $2 per event or $5 for all three. "Ghoulish Treats" will be available to purchase. All proceeds will be donated to Take Stock in Children, United Way and United Communities, and the Baptist Medical Center Cancer Research Institute. The events are appropriate for ages 9 to 99. For information call 548-4490. Fall Festival Memorial United Methodist Church will host a Fall Festival Oct. 22 from 10 a.m.-1 p.m. in Central Park with food, pony rides, horse-drawn hayrides, a bounce house and carnival-style games with school supplies as prizes. The entire community is invited. Call 261-5769 for information. 'Haunted Hour' The West Nassau High School Drama Department, 1 Warrior Drive, Callahan, will present two one-act plays and a radio show, the Haunted Hour, on Oct. 21 and 22 from 6:30-8:30 p.m. Tickets are $3 at the door. All are welcome. Call (904) 879-3461 or email alison.stewart@nassau.k12.fl.us for information. Halloween Hoopla The ACT Teen Theatre Troupe invites you to bring young kids for some Halloween Fall Fun Oct. 23 from 3-6 p.m. The main stage theater lobby will be turned into a small fall festival with game booths and a $1 ticket raffle for a Halloween basket of treats. The ACT Teen (ZOMBIE) Troupe will present a Halloween-themed musical performance at 3:30 and 6:30 p.m. Doors open at 3 p.m. and again at 6 p.m. Cost is $5 per child 12 years and under. Adults accompanied by a child (and people over 12) pay $2. The $5 children's ticket includes admission to all the game booths. For information email tonidamico@ymail.com. Bethlehem Marketplace Springhill Baptist Church announces its annual Fall Festival, Bethlehem Marketplace, Oct. 28 from 6-9 p.m. Enjoy activities, games, prizes and rides. Admission is one non-perishable food item to help re-stock the community food pantry. Hamburgers, hotdogs, chips and drinks will be available at low prices. Please, no scary costumes. Springhill Baptist Church is located at 941017 Old Nassauville Road. Call 261-4741. Pet parade Dress your pet in their favorite Halloween costume and join the fun for Omni Amelia Island Plantation's annual pet parade and costume contest, Oct. 28 at 5 p.m. Donations benefit Rescuing Animals in Nassau. Prizes will be given for best costume. Call the Nature Center at 321-5082 to pre-register, or register at the Spa and Shops from 4:30-4:45 p.m. the day of the event. Fall Festival Join Community Baptist Church, 85326 Winona Bayview Road, Yulee (off Radio Road) for a free Fall Festival Oct. 29 beginning at 4 p.m. The event, open to everyone, features games, prizes, food, horse and wagon rides, a bouncy house and an Old Tyme Country Store with old-time prices. Booths open at 5 p.m. For information contact Sandra Kennison, (904) 521-4068 or 225-5430. Story created Oct 17, 2011 NewsLeader - 06:08:30 PDT. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

HARP Changes

October 24, 2011 – The Federal Housing Finance Agency, with Fannie Mae and Freddie Mac (the Enterprises), today announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their home mortgage. The program enhancements were developed at FHFA’s direction with input from lenders, mortgage insurers and other industry participants. "We know that there are many homeowners who are eligible to refinance under HARP and those are the borrowers we want to reach," said FHFA Acting Director Edward J. DeMarco. "Building on the industry’s experience with HARP over the last two years, we have identified several changes that will make the program accessible to more borrowers with mortgages owned or guaranteed by the Enterprises. Our goal in pursuing these changes is to create refinancing opportunities for these borrowers, while reducing risk for Fannie Mae and Freddie Mac and bringing a measure of stability to housing markets." Fannie Mae and Freddie Mac have helped approximately 9 million families refinance into a lower cost or more sustainable mortgage product, approximately 10 percent of those via HARP. HARP is unique in that it is the only refinance program that enables borrowers who owe more than their home is worth to take advantage of low interest rates and other refinancing benefits. This program will continue to be available to borrowers with loans sold to the Enterprises on or before May 31, 2009 with current loan-t0-value (LTV) ratios above 80 percent. •The new program enhancements address several other key aspects of HARP including: •Eliminating certain risk-based fees for borrowers who refinance into shorter-term mortgages and lowering fees for other borrowers; •Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by Fannie Mae and Freddie Mac; •Waiving certain representations and warranties that lenders commit to in making loans owned or guaranteed by Fannie Mae and Freddie Mac; •Eliminating the need for a new property appraisal where there is a reliable AVM (automated valuation model) estimate provided by the Enterprises; and •Extending the end date for HARP until Dec. 31, 2013 for loans originally sold to the Enterprises on or before May 31, 2009. An important element of these changes is the encouragement, through elimination of certain risk-based fees, for borrowers to utilize HARP to refinance into shorter-term mortgages. Borrowers who owe more on their house than the house is worth will be able to reduce the balance owed much faster if they take advantage of today’s low interest rates by shortening the term of their mortgage. The Enterprises plan to issue guidance with operational details about the HARP changes to mortgage lenders and servicers by November 15. Since industry participation in HARP is not mandatory, implementation schedules will vary as individual lenders, mortgage insurers and other market participants modify their processes. -------------------------------------------------------------------------------- Home Affordable Refinance Program (HARP) Fact Sheet Program Overview The Federal Housing Finance Agency (FHFA) and the Department of the Treasury introduced HARP in early 2009 as part of the Obama Administration’s Making Home Affordable program. HARP provides borrowers, who may not otherwise qualify for refinancing because of declining home values or reduced access to mortgage insurance, the ability to refinance their mortgages into a lower interest rate and/or more stable mortgage product. Homeowners Helped Since Program Inception As of August 31, 2011, nearly 894,000 borrowers had refinanced through HARP. HARP is only one refinancing option HARP is only one of several refinancing options available to homeowners. Since April 2009 when HARP began, Fannie Mae and Freddie Mac have helped approximately nine million families refinance into a lower cost or more sustainable mortgage product. HARP is unique in that it is the only refinance program that enables borrowers who owe more than their home is worth to take advantage of low interest rates and other refinancing benefits. Provided by GoToby.com John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Short Sale vs. Foreclosure: A Short Sale Always Wins

Short Sale vs. Foreclosure: A Short Sale Always Wins
by Christopher Reale on October 4, 2011 · 31 comments

in For Sellers, Foreclosures, Short Sales

2155
ShareShare2155We are again honored to have Christopher Reale, Director of Short Sale Operations at Lepizzera and Laprocina Title and Escrow Services, as today’s guest blogger. He is an expert on the short sale process and will share his knowledge with us on a regular basis. – The KCM Crew

Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.

The most prevalent question and one that continues to permeate the industry is:

“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?”

Short Sale vs. Foreclosure: A Short Sale Always Wins

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

Housing Affordability: Price to Income

The Research
The resale of existing homes fell 3 percent in September according to the National Association of Realtors.[i] A new wave of foreclosures is scheduled to hit the U.S. housing markets.[ii] Homeownership levels experienced their largest decline since the Great Depression.[iii] Is there any good news about housing? Are there any signs of life in the U.S. property markets?

Housing Affordability: Price to Income

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

Friday, October 21, 2011

Selling your home in Fernandina Beach and Yulee

Prudential Chaplin Williams Realty is a team of local real estate experts ready to reveal the secrets of how we can help you sell your home. From setting the price to creating marketing campaigns for traditional media and Web, we’ve got a proven plan that will match your home with the right buyers for the right price. We are committed to fast, professional and courteous personal service to help you understand and feel at ease throughout the home selling process. Our trained and certified agents specialize in the Nassau County, FL real estate market and are prepared to sell your home to the right buyer for the best price. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

536 Spanish Way W, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

Builder will pay 4.5% up to $10,000 toward total closing costs + buyer's first 3 months of interest payments when a SEDA preferred lender is used.

$324,800
536 Spanish Way W, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

31 Salt Marsh Drive, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

SOUTHERN LIVING style located within Long Point in the Amelia Island Plantation, a signature Omni resort community. This LOW COUNTRY ELEVATION has lots of appeal with wrap-around veranda, wood floors & PLANTATION SHUTTERS. The LIGHT & BRIGHT kitchen has double wall ovens, task lighting, windows over sink, GE appliance package, island with JENN-AIRE COOKTOP, plus deep breakfast bar open to the family room with skylights & SOARING 19-FOOT CEILING. Tranquil 45-foot wide screened porch extends the width of the house with pure privacy overlooking rear yard & marshlands. ANDERSEN WINDOWS & DOORS, en suite bedrooms, dual zone HVAC, cedar lap siding, governor's driveway & a NEW ROOF installed 2011.

$898,000
31 Salt Marsh Drive, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

1871 Perimeter Park Road, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$449,900
Beautiful 2 story home in Amelia Park with terrific front porch and covered balcony! This home features many upgrades like true hardwood floors, upscale fixtures and appliances, exquisite light fixtures, granite counters, plantation shutters and much more. Very open and bright throughout! First floor features living room with fireplace, formal dining, kitchen and breakfast room, master bedroom suite and laundry room. The upstairs features 2 bedrooms with an office/study in between. Double car garage with built-in overhead storage off of rear alley access. This is a must see home!!

1871 Perimeter Park Road, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

37159 Southern Glen Way, Hillard, FL 32046 :: Prudential Chaplin Williams Realty

Quality built home in Hilliard, short drive to the downtown area. Well cared for with rear screened lania and fenced rear yard. Single story floor plan. Community playground as well as dog park. Stucco exterior. Includes all appliances. Small neighborhood of newer homes.

$140,000 37159 Southern Glen Way, Hillard, FL 32046 :: Prudential Chaplin Williams Realty

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

103 Cormorant Court, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$234,900 Located a short 2 blocks from the beach, this is the perfect location for any one wanting the convenience of a zero lot line home. HOA takes care of your lawn and the pool is across the street. Heated/cooled Florida room not included in square footage listed. 3 open patios. This is a bright home with large, open living area.

103 Cormorant Court, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

405 S 17TH STREET, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$98,500 =-centrally located to shopping and schools, this home has a large lot with fenced rear yard. Owner recently installed new HVAC system and water heater. Curently rented at $850/month

405 S 17TH STREET, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

2725 Robert Oliver Avenue, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$299,000 - Walk to beach, South end of Amelia Island Home for Sale
2725 Robert Oliver Avenue, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

218 S Division Street, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$35,000 On Amelia Island - Division St Home for sale
218 S Division Street, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

85386 Sagaponack Drive, Fernandina Beach, FL 32034 :: Prudential Chaplin Williams Realty

$239,990 - North Hampton Home Newly listed
85386 Sagaponack Drive, Fernandina Beach, FL 32034 :: Prudential Chaplin Williams Realty

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

Housing Market Trends: 10/19/2011 - Nassau County, FL

Market Trends: 10/19/2011 Fernandina Beach - Nassau County, FL Market Snapshot Total Properties Listed: 1,547 Month-Over-Month Change: -1.15% Average List Price: $345,599 Month-Over-Month Change: -2.24% Median List Price: $227,110 Month-Over-Month Change: -1.25% Typical Property Single-Family Home 3.19 Bedrooms 2.54 Baths $345,599 Average List Price $202/SqFt Average Price per SqFt. Average Price by Bedrooms: 1 Bedroom: $213,739 2 Bedrooms: $275,008 3 Bedrooms: $365,920 4 Bedrooms: $476,958 5 Bedrooms: $721,217 John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Thursday, October 20, 2011

Fernandina Beach Mortgage Information

What’s First? The House or the Mortgage? by Dean Hartman on October 20, 2011 · 0 comments ShareShare Most people get it backwards. They shop for a home, THEN, they try to structure the financing for it. They make the emotional decision of buying the home of their dreams, THEN, try to apply logic in how they pay for it. Many even go “online” and play with what is affordable by underwriting standards without TRULY considering their future. I am always fascinated by mortgage underwriting “standards” when they don’t even take into account some very large variables that affect an applicant’s cash flow, and thereby, their ability to repay the loan or maintain a lifestyle they want: Are you single or a family of six? Costs for food and clothing alone are very different. Do you live in a state that requires State Income Tax or not? Another significant part of the equation. How often do you like to eat out or vacation? Are you willing to sacrifice these things for a bigger or nicer home? Falling in love with a home without considering the REAL impact on your lifestyle is a recipe for unhappiness….either in re-adjusting to a “lesser” home or disappointment over the lack of vacations or nights out. My advice is to first work on your financing. Go the logic route. Find out what you can afford from a lender’s underwriting perspective, but then, spend some time considering the the cash flow realities of your choice. Work with your loan officer to make wise choices. Additionally, your loan officer should be advising you on ways to properly represent and transfer your assets, how to explain and document your income, as well as, assisting you in methods to get your optimal credit score. This counsel can be invaluable in smoothing out some of the bumps in the mortgage process, besides giving you the best chance to get the most aggressive pricing available. To me, the choice is crystal clear…the mortgage before the house! John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Wednesday, October 19, 2011

Prudential Chaplin Williams Realty - Amelia Island

Prudential Chaplin Williams passes 235 real estate sides closed for 2011. This includes homes for sale, vacant lots and condos in the Fernandina Beach, Amelia Island and Yulee areas as well as Callahan and Hilliard. Prudential Chaplin Williams is currently the number one office in sales, listings and closed units in Nassau Couty for 2011. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Tuesday, October 18, 2011

2511 Tennis Villas, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$299,000 for a tennis villa on Amelia island Plantation.
2511 Tennis Villas, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

1815 S 8TH STREET, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$325,000 for a new commercial building and lot on 8th Street in Fernandina Beach.
1815 S 8TH STREET, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

3201 Eventide C0urt, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$449,000 for 2900 sq ft detached home near The Surf Reastaurant on Fletcher Ave.
3201 Eventide C0urt, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

160 AC Tompkins Landing Rd, Hilliard, FL 32046 :: Prudential Chaplin Williams Realty

160 acres in Hilliard for $750,000
160 AC Tompkins Landing Rd, Hilliard, FL 32046 :: Prudential Chaplin Williams Realty

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

A202 The Landings, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

$863,500 for a new riverfront condo thats over 3000 sq ft.
A202 The Landings, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

Old Dixie Highway, Callahan, FL 32011 :: Prudential Chaplin Williams Realty

$2,470,000 for 759 acres in Nassau County

Old Dixie Highway, Callahan, FL 32011 :: Prudential Chaplin Williams Realty

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

REO Market Peak Levels

Monday, October 17th, 2011, 4:15 pm The sale of properties repossessed through foreclosure may not peak until 2013, keeping home prices from a meaningful recovery for some time, analysts estimated Monday. Nearly half of the more than 552,000 REO properties liquidated in the first half of 2011 were held by private banks. In the years ahead, the government — including the Department of Housing and Urban Development, Fannie Mae and Freddie Mac — will begin taking a majority of the activity. In 2013, REO sales could reach 1.48 million properties, according to estimates from Bank of America Merrill Lynch analysts, a 10% increase from projected amount in 2012. "We do not expect to see anywhere near the downward pressure on home prices that we had back in 2008, since the expected percent changes in liquidation volumes are so much smaller," BofAML analysts said. "But home prices are starting from a negative point, so the implication is that home prices will continue to decline as the foreclosures transition through the pipeline." Most of the projected increase will come as the government begins to unload its backlog. The government-sponsored enterprises and HUD, analysts estimate, will liquidate roughly 595,000 properties in 2013 alone. Total REO liquidations wouldn't drop below 1 million until 2015, according to BofAML. The Obama administration began work last month developing new strategies for selling this mass of properties, which may involve renting more of them. The Federal Housing Finance Agency is also working on a way to refinance more underwater borrowers to entice them from walking away. "I would essentially rent the house back to those who are living in them now," said Susan Woodward, an economist with Sand Hill Econometrics. "I don't think it makes a lot of sense to push 4 million people out of their homes when they're victims of a slower economy they had nothing to do with." Other analysts were skeptical of anyone who could predict accurately what the GSEs or Washington would do, especially after the elections in 2012. "Do they really think that the government under any administration would let 500,000 homes hit the market and crash prices all over again, six years after the first crash?" said Scott Sambucci, chief analyst at Altos Research. He said even if unemployment improved by a full percentage point or two — which he said would be a stretch — the market would still struggle to meet such a supply influx. "It would crash the market, so no, it'll never happen," Sambucci said. Daren Blomquist at RealtyTrac, which monitors foreclosure filings across the country, said the sale of REO is on track to reach 825,000 by the end of 2011. "We do expect the REOs to pick back up in 2012 as lenders push through some of the foreclosures delayed by processing and paperwork issues," Blomquist said, adding the inventory needed to be sold could reach well into the millions. If half of the 800,000 mortgages currently somewhere in the foreclosure process and another half of the 1.5 million loans in serious delinquency end up REO, it could mean an additional, 1.15 million properties that would need to be liquidated — not including new foreclosures that enter the process, according to RealtyTrac. "That's very possible given continued high unemployment rates and high underwater rates," Blomquist said. RealtyTrac estimates roughly 27% of all outstanding mortgages are worth more than the underlying property. Woodward said refinancing borrowers, in negative equity or not, down to current market rates could result in a total savings for U.S. households at $250 billion annually. When asked if private investors would return to fund the future mortgage market after such a radical change, she said they would. "I think the whole world would see this as a one-time fix. We did similar extreme things during the Great Depression," Woodward said. Investors themselves, though, showed little confidence they would take on such a risk again. In fact, most are trying to keep the government involved in the housing market for the future, to keep risks as low as possible. Otherwise, foreign investors would flee. While the estimates on how many REO will be sold in the future are extremely difficult to nail down, the size of the best projections share a common and threatening scale. Analysts said major refinancing schemes or new strategies for liquidating REO on a local level would need to be completed soon to rescue house prices from the still increasing pressure of mounting foreclosures. "The need for policy support would therefore be considered urgent," the BofAML analysts said. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Monday, October 10, 2011

Jacksonville Buyers Report

Jacksonville, FL – Buyers Running for the Hills with Cloud of Uncertainty Looming (3,381 single-family permits in 2010, 26th largest market in the country) Traffic falls further as index reaches new lows for the year. Traffic fell sharply in September, as our traffic index dipped to 23 from 39 in August, missing agents’ expectations for this time of year (readings below 50). This marks the region’s lowest reading since October 2010. Agents highlighted that buyers were only looking if they “truly needed a home,” otherwise they remained on the sidelines. Economic concerns, volatile stock market activity, and an overall lack of confidence all worked to keep buyers away from the market in September. One agent mentioned, “There is a sense of folks hunkering down.” Another agent noted, “Job security is a real issue for people. They don’t feel comfortable making such a big ticket commitment.” Traffic has been choppy since peaking in May, with September marking the lowest reading. One agent thinks the trend could end up looking worse as the year progresses, commenting, “Foot traffic is ok, but phone traffic is slower, meaning the end of the year could be really slow.” Agents also mentioned that would be buyers have had continued difficulty securing financing. Pricing continues to fall as homes linger on the market. Home prices continued to face pressure in September, as our home price index came in at 32 (from 23 in August), closer toward a neutral reading, but still falling short, pointing to sequentially lower prices (readings below 50). We think recent inventory trends may have helped our price index, as inventory levels were stable for the second consecutive month. Our home listings index came in at 50 (unchanged from our reading in August), with readings of 50 pointing to flat inventory levels. However, the time to sell increased again in September, which we expect to remain a drag on the region’s pricing. Our time to sell index came in at 14 (from 23 in August), with readings below 50 pointing to an increased time to sell. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Friday, October 7, 2011

95016 PASO ROBLES COURT Fernandina Beach, FL 32034 Hot Off The MLS!

95016 PASO ROBLES COURT Fernandina Beach, 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

86961 WORTHINGTON DRIVE Yulee, FL 32097 Hot Off The MLS!

86961 WORTHINGTON DRIVE Yulee, FL 32097 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

97285 CASTLE RIDGE DRIVE Yulee, FL 32097 Hot Off The MLS!

97285 CASTLE RIDGE DRIVE Yulee, FL 32097 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

97285 CASTLE RIDGE DRIVE Yulee, FL 32097 Hot Off The MLS!

97285 CASTLE RIDGE DRIVE Yulee, FL 32097 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

157 INDIGO STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

157 INDIGO 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

55397 BEAR RUN ROAD Callahan, FL 32011 Hot Off The MLS!

55397 BEAR RUN ROAD Callahan, FL 32011 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

55397 BEAR RUN ROAD Callahan, FL 32011 Hot Off The MLS!

55397 BEAR RUN ROAD Callahan, FL 32011 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

54307 ARMSTRONG ROAD Callahan, FL 32011 Hot Off The MLS!

54307 ARMSTRONG ROAD Callahan, FL 32011 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

97070 CARAVEL TRAIL Yulee, FL 32097 Hot Off The MLS!

97070 CARAVEL TRAIL Yulee, FL 32097 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

1923 STERLING LANE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

1923 STERLING 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

1719 15TH STREET Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

1719 15TH 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

1541 EAST SR 200 Yulee, FL 32097 Hot Off The MLS!

1541 EAST SR 200 Yulee, FL 32097 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

1541 EAST SR 200 Yulee, FL 32097 Hot Off The MLS!

1541 EAST SR 200 Yulee, FL 32097 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

Picking the Right Agent is Crucial

Picking the Right Agent is Crucial

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

54416 TURNING LEAF DRIVE Callahan, FL 32011 Hot Off The MLS!

54416 TURNING LEAF DRIVE Callahan, FL 32011 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

95064 POPLAR WAY Fernandina Beach, FL 32034 Hot Off The MLS!

95064 POPLAR WAY Fernandina Beach, 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

85722 MINER ROAD Yulee, FL 32097 Hot Off The MLS!

85722 MINER ROAD Yulee, FL 32097 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

95033 BUCKEYE COURT Fernandina Beach, FL 32034 Hot Off The MLS!

95033 BUCKEYE COURT Fernandina Beach, 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

54215 JAMIE DRIVE Callahan, FL 32011 Hot Off The MLS!

54215 JAMIE DRIVE Callahan, FL 32011 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

96423 MONTEGO BAY Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

96423 MONTEGO BAY 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

65028 LAGOON FOREST DRIVE Yulee, FL 32097 Hot Off The MLS!

65028 LAGOON FOREST DRIVE Yulee, FL 32097 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

97057 DOUBLOON WAY Yulee, FL 32097 Hot Off The MLS!

97057 DOUBLOON WAY Yulee, FL 32097 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

1820 REATTA LANE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

1820 REATTA 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

37856 POOLE ROAD Hilliard, FL 32046 Hot Off The MLS!

37856 POOLE ROAD Hilliard, FL 32046 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

32745 SUNNY PARKE DRIVE Fernandina Beach, FL 32034 Hot Off The MLS!

32745 SUNNY PARKE DRIVE Fernandina Beach, 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

41 OAK GROVE PLACE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

41 OAK GROVE PLACE 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

85586 BOSTICK WOOD DRIVE Fernandina Beach, FL 32034 Hot Off The MLS!

85586 BOSTICK WOOD DRIVE Fernandina Beach, 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.net
www.johnholbrook.blogspot.com

2815 PARK SQUARE PLACE Fernandina Beach/Amelia Island, FL 32034 Hot Off The MLS!

2815 PARK SQUARE PLACE 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.net
www.johnholbrook.blogspot.com

95006 LANTANA COURT Fernandina Beach, FL 32034 Hot Off The MLS!

95006 LANTANA COURT Fernandina Beach, 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.net
www.johnholbrook.blogspot.com

41 Oak Grove Place, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

41 Oak Grove Place, Fernandina Beach/Amelia Island, FL 32034 :: Prudential Chaplin Williams Realty

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

Thursday, October 6, 2011

Tips To Present a Stronger Mortgage Application

Tips To Present a Stronger Mortgage Application

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

Green Building Features - Fernandina Beach

Appraisers Embrace Green Features The nation's largest professional association of real estate appraisers has developed a form to help appraisers analyze values of energy-efficient home features. The Appraisal Institute issued the form as an optional addendum to Fannie Mae Form 1004, the appraisal industry's most widely used form for mortgage-lending purposes. Used by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA), Form 1004 is completed by appraisers to uphold safe and sound lending. Currently, the contributory value of a home's green features is rarely part of the equation. The Institute's addendum allows appraisers to identify and describe a home's green features, from solar panels to energy-saving appliances. Form 1004 devotes limited attention to energy-efficient features, so green data usually doesn't appear in the appraisal report, or it is included in a lengthy narrative that often is ignored. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Omni Amelia island Plantation

$80 million to rejuvenate Plantation By Garrett Pelican, News-Leader Nassau County Commissioners have unanimously approved Omni's $80 million plans to revitalize the Amelia Island Plantation. The plans - including additions to the resort hotel, convention center and commercial area - drew praise from commissioners and members of the audience alike. "It's all about jobs," he said. "We're creating jobs, we're bringing in new jobs, we're keeping jobs. ... I'm excited that Omni's a very good corporate citizen and a very good corporate partner for Nassau County, and I welcome them and thank them so much for what they're doing." Omni, one of the county's largest employers, would add about 100 new jobs once the project is completed, not to mention the benefits of construction employment. Steve Rieck, executive director of the Nassau County Economic Development Board, told commissioners that he received a phone call from the governor's office notifying him that the development has been approved for a rural jobs tax credit award of $210,000, to be administered when the jobs become available. "We think that this project is going to go a long way towards what we're all trying to achieve here in terms of a better working environment and a larger economic pie for us all to enjoy," he said. "I'd like to say on the record that NCEDB fully supports and will offer whatever assistance we can in the future to making this project successful." Omni plans to make major improvements on Amelia Island Plantation's 1,350-acre site. They includes: ~~ Reconstruction and expansion of the resort's hotel, adding 155 rooms to its current 249. ~~ A new Beach Club, including new swimming pools and ancillary facilities. ~~ A new three-story parking structure. ~~ Addition of 41,000 square feet, including a new ballroom, to the existing convention center. ~~ Two new restaurants and new pedestrian walkways and traffic pattern changes to the Spa & Shops commercial area. ~~ Interior and exterior enhancements to many of the current facilities, some of them dating to the Plantation's origins 40 years ago. The county commission has authority over the project because it is a Planned Unit Development subject to local and state laws governing residential and commercial areas of substantive size and impact. The Amelia Island Plantation development began in 1972 and was expanded in 1982. Its development plan has been amended over the years, including as recently as December 2006, but this is the first major redevelopment and expansion since 1982. Omni Amelia Island LLC assumed ownership of the Amelia Island Co. about a year ago as the result of a bankruptcy proceeding, the second such in the history of the Amelia Island Plantation, originally founded on the southern end of the island by the resort developers of the Hilton Head, S.C. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Bank of America - Amelia Island, Weekly Economic Report

National BOA Report Some pessimism crept back into the markets late last week as China's manufacturing PMI contracted for a third consecutive month. There is growing fear that a slowdown in China could affect the already fragile global economy. Also personal income was reported lower than expected. On the optimistic side, several economic reports were better than expected. New home sales for August were up 6.1% from a year earlier and the Case-Shiller Home Price Index rose in July from June in the 10 and 20 city survey, and was the fourth monthly gain in a row. There was also some positive news from overseas. European leaders are designing a Special Purpose Vehicle (SPV) that would issue bonds and purchase European debt to try to contain the malaise in that region. Plus, Germany voted in support of the expansion of the European Financial Stability Facility (EFSF), which will be used to help European Union member countries access capital. This is optimistic news, as it shows Germany is taking steps to help debt laden countries avoid default and potentially threaten the European Union. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com

Monday, October 3, 2011

Short Sales - Amelia Island & Fernandina Beach, National Report

The Office of the Comptroller of the Currency released their Second Quarter 2011 Mortgage Metrics Report last week. In the report, they covered the success the banking industry is having in each of several categories regarding the current housing crisis. Here is what they found: Loan modifications – These are “actions that contractually change the terms of mortgages with respect to interest rates, maturity, principal, or other terms of the loan.” Down 18.1% from the first quarter and down 19.5% from last year. Completed foreclosures – Where “ownership of properties transferred to servicers or investors. The ultimate result is the loss of borrowers’ homes because of nonpayment.” Up 1.2% from the first quarter but down 30.7% from last year. Newly initiated foreclosures – “Mortgages for which the servicers initiate formal foreclosure proceedings during the month. Many newly initiated foreclosures do not result in the loss of borrowers’ homes because servicers simultaneously pursue other loss mitigation actions, and borrowers may act to return their mortgages to current and performing status.” Down 8% from the first quarter and down 1.7% from last year. Short sales – “Sales of the mortgaged properties at prices that net less than the total amount due on the mortgages. Servicers and borrowers negotiate repayment programs, forbearance, or forgiveness for any remaining deficiency on the debt. Short sales typically have a less adverse impact than foreclosures on borrowers’ credit records.” Up 12.6% from the first quarter and up 1.7% from last year. Bottom Line The only category which is up month-over-month and year-over-year is short sales. And the rate of increase in short sales is accelerating. Tomorrow, we will blog on the advantage of the short sale process to the homeowner. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com