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

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

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

Jazz Festival - Amelia Island

Amelia Island Jazz Festival 2011 Amelia Island Jazz Festival tickets are now on sale online for all shows. Beginning Oct. 2 with a free Amelia Park concert by the U.S. Navy Big Band and closing Oct. 9 with a Dixieland brunch at the Beech Street Grill, the weeklong event will present blues on Oct. 5 at Sandy Bottoms with Toots Lorraine, an Oct. 6 Latin show and dance with Impacto Latino at St. Peter's Episcopal Church, jazz songstress extraordinaire Nicole Henry Oct. 7, and Louisiana rhythm masters Buckwheat Zydeco Oct. 8, both within an expanded setting at St. Peter's. For information visit www.ameliaislandjazzfestival.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

Bike Trails Amelia Island

A Florida Department of Transportation public information workshop to discuss a multi-use trail for bicyclists and pedestrians alongside Florida A1A in Amelia Island will be discussed today at the American Beach Community Center, 1600 Julia St. in American Beach. An open house will be held from 4:30 to 6:30 p.m., followed by a opportunity for the public to comment at 6:30 p.m. The state is proposing paving a 10-foot wide asphalt path alongside Florida A1A north of the Nassau Sound Bridge and the Amelia Island State Park to Peter's Point Park, a distance of almost six miles. The paved trail will be built primarily on the east side of A1A, but will cross over to the west side in a few places. The project includes drainage structures, utility coordination and wetland permitting and is estimated at $1.6 million. Currently, the project is scheduled for construction in late 2012. Public comments can be made to the FDOT project manager Amy Williams at amy.williams@dot.state.fl.us Read more at Jacksonville.com: http://jacksonville.com/community/nassau/2011-09-22/story/new-trail-along-florida-a1a-amelia-island-discussed-tonight#ixzz1ZLp3Xsdr 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

Florida - Georgia weekend on Amelia Island

AMELIA ISLAND, FL, Sep 28, 2011 (MARKETWIRE via COMTEX) -- One of the biggest rivalries in college football is making its way to Northeast Florida once again for the much anticipated Florida vs. Georgia Game, Saturday, October 29 at EverBank Field in Jacksonville. Located 45 minutes from downtown Jacksonville, Amelia Island is offering a variety of discounts and events allowing fans to score big on their Florida-Georgia Football Weekend. Amelia Island, Florida has created a gridiron getaway contest in which one lucky fan will win a three-night stay at Omni Amelia Island Plantation. Visit www.ameliaisland.com/florida-georgia-showdown to enter. Guests can also enter the sweepstakes by sending a text message with "Ameliaisland Sweeps" to 77950 on their mobile phone. Amelia Island offers a full roster of accommodation options for Gator and Bulldog fans looking to turn a game day trip into a weekend getaway. The Amelia Island CVB is offering 15 percent off accommodations at 15 locations during Florida-Georgia Football Weekend. Book the Florida vs. Georgia game weekend today and receive 15 percent off per night at a choice of 15 Amelia Island accommodations. The offer is only available by calling the participating property and mentioning "Go Bulldogs" or "Go Gators." A two night minimum stay is required and offer is only valid on reservations made before September 30. Visit www.ameliaisland.com/plan-your-vacation/memorable-offers/flga-special-offer for a list of participating Amelia Island hotels. The Omni Amelia Island Plantation is providing several events open to the public to kick off the rivalry weekend. On October 28, The Shops at Omni Amelia Island Plantation are offering a Florida-Georgia Block Party. Starting at 4 p.m., the party will offer family fun with live music, family-friendly activities and much more. From 7 to 10 p.m., the Jim Beam Party offers UGA highlights, game tent with simulators and video games and more. The after-party kicks off at 10 p.m. at Falcon's Nest 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

13,780 homes sold yesterday!

13,780 Homes Sold Yesterday by The KCM Crew on September 26, 2011 · 3 comments ShareShare To all those who have declared the real estate market dead, we want you to know that over 13,780 houses sold yesterday, 13,780 will sell today and 13,780 will sell tomorrow. That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales had increased 7.7% over the month before and 18.6% over the year before. According to the report, annualized sales now stand at 5.03 million. Divide that number by 365 (days in a year) and we can see that, on average, well over 13,000 homes sell every day. We realize that these numbers are below the record for homes sold in 2006. We also know that we may never see those numbers again (and that is probably a good thing). But to say that the current real estate market is dead or that houses are not selling is totally inaccurate. We have over 13,000 pieces of evidence to prove that. 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

Seller's Window

We have suggested that sellers who need to sell within the next 18 months had a ‘window of opportunity’ to sell at higher prices. They needed to put their houses up for sale immediately before a flood of distressed properties were introduced to the market. This window is beginning to close. The paperwork challenges faced by banks that caused a delay in the foreclosure process over the last ten months are starting to clear. It seems that these houses are now coming to the market. RealtyTrac reported in their September Foreclosure Report: “Default notices were filed for the first time on a total of 78,880 U.S. properties in August, a nine-month high and a 33 percent increase from July — the biggest month-over-month increase since August 2007.” James Saccacio, chief executive officer of RealtyTrac explained: “The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robo-signing and other documentation problems. It also foreshadows more bank repossessions in the coming months as these new foreclosures make their way through the process.” Diana Olick, of CNBC’s Realty Check quoted a spokesperson for Bank of America: “ Strong gains like that from July to August demonstrate our progress – primarily in judicial states — clearing more volume to advance to foreclosure once we pass the numerous quality controls we have in place and exhaust all options with homeowners.” The impact will be felt from coast to coast. New Jersey Superior Court Judge Mary Jacobson recently cleared the way for the top banks to resume foreclosures in the state. The impact this will have on the number of distressed properties can be clearly seen in these statistics reported by Housing Wire: “In October, New Jersey had the 24th highest foreclosure rate in the country, with servicers filing roughly 5,200 foreclosures that month, according to RealtyTrac. By July, the Garden State’s foreclosure rate dropped to 42nd with just 1,112 filings last month.” ForeclosureRadar, which handles research in California, Oregon, Washington, Arizona and Nevada, last week reported: “Foreclosure starts rose in every state.” Bottom Line If you currently are selling your home, price it to compel a buyer to purchase it now. Waiting will cause you to compete with an increased number of distressed properties which sell at dramatically discounted prices. 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

Northeast Florida Market report - Real Estate

Jacksonville, FL – Converting Traffic into Contracts is Taking Time, Patience, and Lower Prices (3,381 single-family permits in 2010, 26th largest market in the country) Traffic down modestly, but still at decent levels. Buyer traffic fell in August, as our traffic index dipped slightly to 39 from 42 in July, indicating traffic levels below agents’ expectations (any reading below 50). However, this was still good enough to be tied for the highest reading in the 20 largest markets we survey. After a solid spring and early summer, sales seem to have moderated as of late, but agents say well-priced homes in good locations are still selling. One agent commented, “The under $150,000 market is heating up and involves lots of work and showings.” Another agent said, “I’m feeling more sincerity on the part of the buyers looking around.” However, not all were as positive. One agent said that the traffic may have been ok, but, “Still just a bunch of lookers.” Others also noted difficulty securing financing and getting appraisals high enough to support prices. “Many properties are not appraising, including short sales,” according to one agent. Sellers cutting prices in order to generate buyer interest. Home prices remained under pressure in August as sellers continued to adjust in response to buyer demands and competition from distress. Our home price index slipped to 23 from 25 in July, with readings below 50 indicating lower home prices over the past 30 days. We think the declines are likely to continue in the coming months. Inventory levels were stable in August, as our home listings index fell to 50 from 58 in July, in-line with a neutral reading of 50. However, our time to sell index still indicated a longer time needed to sell a home, as deals are taking longer to formalize given buyer hesitancy, coming in at 23 in August (from 21 in July) vs. a neutral reading of 50. The longer time needed to sell is typically a negative indicator for near-term pricing trends. 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