Foreclosures: One-third of Fla. sales
WASHINGTON – June 30, 2010 – According to a new report from RealtyTrac, foreclosure homes accounted for 31 percent of all residential sales in the first quarter of 2010. Additionally, the average sales price of properties sold while in some stage of foreclosure was nearly 27 percent below the average sales price of properties not in the foreclosure process.
A total of 232,959 U.S. properties in some stage of foreclosure – default, scheduled for auction or bank-owned (REO) – sold to third parties in first quarter 2010, a decrease of 14 percent from the previous quarter and down 33 percent from the peak during the first quarter of 2009, when sales of foreclosure homes accounted for 37 percent of all residential sales.
“First-time homebuyers and investors continue to buy foreclosure properties in large numbers and at substantial discounts,” says James J. Saccacio, chief executive officer of RealtyTrac. “As lenders have begun repossessing homes at record levels over the first half of 2010, it will be interesting to watch how they will manage the inventory levels of distressed properties on the market in order to prevent more dramatic price deterioration.”
The average sales prices on properties in some stage of foreclosure decreased 23 percent from 2006 to 2009, while the average discounts on foreclosure purchases steadily increased from 21 percent in 2006 to 27 percent in the first quarter of 2010. Discounts on REOs are larger than discounts on pre-foreclosures, although discounts on pre-foreclosures appear to be trending higher as short sales become more common.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Wednesday, June 30, 2010
Fernandina Beach Real Estate
Lenders use deeds-in-lieu to clear out inventory
WASHINGTON – June 30, 2010 – Thanks to new federal programs that offer cash incentives, some lenders are turning to deeds-in-lieu as the best solution for underwater borrowers willing to turn over their properties.
It’s cheaper for lenders to do deeds-in-lieu because it gives them overnight control of the property. With mortgage rates at less than 5 percent, lenders believe that they can resell a property faster and on more favorable terms than they would receive going through a short sale.
Matt Vernon, an expert in short sales and deed-in-lieu deals for Bank of America, says his company is offering cash incentives that range from $3,000 to $15,000 to persuade troubled borrowers to sign on.
Deeds-in-lieu don’t harm a borrower’s credit rating as much as a foreclosure or a bankruptcy, but because they are treated as debts that are “not paid as agreed,” they do leave a mark on credit scores.
Source: Washington Post, Ken Harney (06/26/2010)
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
WASHINGTON – June 30, 2010 – Thanks to new federal programs that offer cash incentives, some lenders are turning to deeds-in-lieu as the best solution for underwater borrowers willing to turn over their properties.
It’s cheaper for lenders to do deeds-in-lieu because it gives them overnight control of the property. With mortgage rates at less than 5 percent, lenders believe that they can resell a property faster and on more favorable terms than they would receive going through a short sale.
Matt Vernon, an expert in short sales and deed-in-lieu deals for Bank of America, says his company is offering cash incentives that range from $3,000 to $15,000 to persuade troubled borrowers to sign on.
Deeds-in-lieu don’t harm a borrower’s credit rating as much as a foreclosure or a bankruptcy, but because they are treated as debts that are “not paid as agreed,” they do leave a mark on credit scores.
Source: Washington Post, Ken Harney (06/26/2010)
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Sunday, June 27, 2010
Amelia Island Bank Owned Home
Address: 2221 CAPTAIN KIDD , FERNANDINA BEACH , FLORIDA ; 32034 County: Nassau
List Number 529038 Status Active
Property Type Residential Price $ 154,900
Region 40-NASSAU COUNTY Area 450-AMELIA ISLAND
Parcel # 00 00 31 1438 0010 0000 Subd-Legal LAKEWOOD
Common LAKEWOOD Association Fee Y
Assoc Fee $ 255 Assoc Fee Freq Annually
CDD Fee Y/N N CDD Fee 0.00
Bedrooms 3 Full Baths 2
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 1,363 Year Built 1991
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
List Number 529038 Status Active
Property Type Residential Price $ 154,900
Region 40-NASSAU COUNTY Area 450-AMELIA ISLAND
Parcel # 00 00 31 1438 0010 0000 Subd-Legal LAKEWOOD
Common LAKEWOOD Association Fee Y
Assoc Fee $ 255 Assoc Fee Freq Annually
CDD Fee Y/N N CDD Fee 0.00
Bedrooms 3 Full Baths 2
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 1,363 Year Built 1991
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Saturday, June 26, 2010
Amelia Island Bank Rates - Mortgages
WASHINGTON – June 25, 2010 – Mortgage rates fell this week to the lowest level on records dating to 1971, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.
The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.
That's the lowest point since Freddie Mac began tracking rates in April 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.
That's the lowest point since Freddie Mac began tracking rates in April 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Amelia National Bank Owned Home
Address: 95012 SUNFLOWER CT , FERNANDINA BEACH , FLORIDA ; 32034-7000 County: Nassau
List Number 529382 Status Active
Property Type Residential Price $ 209,900
Region 40-NASSAU COUNTY Area 472-ONEIL,NASSAVILLE,HOLLY PT
Parcel # 26 2N 28 006A 0145 0000 Subd-Legal AMELIA NATIONAL
Common AMELIA NATIONAL Association Fee Y
Assoc Fee $ 819 Assoc Fee Freq Annually
CDD Fee Y/N Y CDD Fee 1,459.53
Bedrooms 4 Full Baths 3
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 2,666 Year Built 2005
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
List Number 529382 Status Active
Property Type Residential Price $ 209,900
Region 40-NASSAU COUNTY Area 472-ONEIL,NASSAVILLE,HOLLY PT
Parcel # 26 2N 28 006A 0145 0000 Subd-Legal AMELIA NATIONAL
Common AMELIA NATIONAL Association Fee Y
Assoc Fee $ 819 Assoc Fee Freq Annually
CDD Fee Y/N Y CDD Fee 1,459.53
Bedrooms 4 Full Baths 3
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 2,666 Year Built 2005
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 17, 2010
Regions Bank Fernandina Beach Update
From the desk of Alan Vanderheiden
Senior Mortgage Advisor
Regions Mortgage
1409 Sadler Road
Fernandina Beach, FL 32034
904-277-3232 (office) 904-335-0500 (cell) 904-277-2261 (fax)
alan.van@regions.com
June 17, 2010
FNMA 30 Year Fixed: 4.75%
FNMA 15 Year Fixed: 4.00%
USDA / FHA / VA: 4.75%
Hello Friends,
Looks like the “summer sizzle” has begun……
Have you noticed mortgage rates lately? They are once again approaching historic lows. In fact presently we are seeing the best pricing of the year. So what is causing rates to remain this low?
A few things are working in our favor. One is unemployment. We still have millions of able bodied workers looking for jobs. Colleges and Universities have just graduated thousands of co-eds that are now looking for work. Did you know that our economy would need to hire 125,000 per month just to keep up with the graduates coming out of higher education? Until we can put folks back to work where they will earn money to spend the sluggish economy will continue.
Also, the economic crisis in Europe has hurt world wide markets. In the US recently, institutional investors have pulled money from Wall Street and moved it to the safe haven of bonds. This has pushed bond yields highs keeping mortgage rates down.
Inflation is still on the distant horizon and is not affecting our economy…..yet.
The first time homebuyer tax credit has been extended to September 30 for those buyers who have a contract as of April 30. Approximately 180,000 homeowners would miss the current June 30 deadline for closing….many due to lengthy short sales transaction. Yipppiee.
Did you know that for every dollar Regions lends we have $0.99 in depository assets? Regions’ is very solid and very well positioned to lend.
Please let me know how I can help you. See you soon.
See you soon.
Alan
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Senior Mortgage Advisor
Regions Mortgage
1409 Sadler Road
Fernandina Beach, FL 32034
904-277-3232 (office) 904-335-0500 (cell) 904-277-2261 (fax)
alan.van@regions.com
June 17, 2010
FNMA 30 Year Fixed: 4.75%
FNMA 15 Year Fixed: 4.00%
USDA / FHA / VA: 4.75%
Hello Friends,
Looks like the “summer sizzle” has begun……
Have you noticed mortgage rates lately? They are once again approaching historic lows. In fact presently we are seeing the best pricing of the year. So what is causing rates to remain this low?
A few things are working in our favor. One is unemployment. We still have millions of able bodied workers looking for jobs. Colleges and Universities have just graduated thousands of co-eds that are now looking for work. Did you know that our economy would need to hire 125,000 per month just to keep up with the graduates coming out of higher education? Until we can put folks back to work where they will earn money to spend the sluggish economy will continue.
Also, the economic crisis in Europe has hurt world wide markets. In the US recently, institutional investors have pulled money from Wall Street and moved it to the safe haven of bonds. This has pushed bond yields highs keeping mortgage rates down.
Inflation is still on the distant horizon and is not affecting our economy…..yet.
The first time homebuyer tax credit has been extended to September 30 for those buyers who have a contract as of April 30. Approximately 180,000 homeowners would miss the current June 30 deadline for closing….many due to lengthy short sales transaction. Yipppiee.
Did you know that for every dollar Regions lends we have $0.99 in depository assets? Regions’ is very solid and very well positioned to lend.
Please let me know how I can help you. See you soon.
See you soon.
Alan
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Tuesday, June 15, 2010
Center Street - Fernandina Beach Office
With the opening of a brand new downtown location, local Real Estate company PRUDENTIAL CHAPLIN WILLIAMS REALTY underwrites its optimistic stance for an upswing in the local real estate market. The Company is currently the number one real estate company in closed sales for 2010, as per its press release.
The office, located at 402 Centre St., in the same building as the Convention and Visitor Bureau (CVB) is the third office location for Prudential Chaplin Williams in Nassau County, with the original office still on the southside of Amelia Island on the First Coast Highway and another one in Yulee on A1A/State Rd. 200
Of the 38 real estate professionals currently associated with the company, Carolyn Cherry, Carolyn Lockhart, Julie McCracken, Lila Keim , Mark Walker, and the Werling Team consisting of Karen and Paul Werling, Julianna Miller, Nick Burke, and Paul & Decie Wetherhill, will be working out of the prestigious downtown location.
History
Prudential Chaplin Williams brokers, Dee Chaplin and Hugh Williams became partners in 1998 and established Chaplin Williams Realty, Inc. on Amelia Island. In 2004 the property rental division was established which specializes in long term rentals in Nassau County. As the area grew in national and international awareness Dee and Hugh purchased the franchise name of Prudential for worldwide recognition and exposure. Both brokers continue to be very active and hands on in the community and the field of real estate.
In 2007, Dee Chaplin was president of the Amelia Island Nassau County Board of Realtors while Hugh was President of the Multiple Listing Service. Dee is past president of the Board of the Restoration Foundation and still retains membership. Her family owns the only residence left on Centre Street. The fountain in front of the Court House in Downtown was dedicated to the memory of Pat Williams, Hugh’s mother, erected for all the time and energy she spent on stewarding causes of the Historic District.
The roots and involvement of the Prudential team members with the island and the town of Fernandina Beach goes way back tot the days before real estate booms (and busts) and knowing the underlying values of an island community is paramount to successful real estate transactions.
All agents and brokers in the Prudential team acknowledge this by continuing to be a moving part of our community. Dee is slated to return as the 2011 President of the Board of Realtors and many of the Chaplin Williams agents are a part of the Board and committee chairs to better continue to lead the real estate industry in our community, aside from serving in many local charities and service clubs.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
The office, located at 402 Centre St., in the same building as the Convention and Visitor Bureau (CVB) is the third office location for Prudential Chaplin Williams in Nassau County, with the original office still on the southside of Amelia Island on the First Coast Highway and another one in Yulee on A1A/State Rd. 200
Of the 38 real estate professionals currently associated with the company, Carolyn Cherry, Carolyn Lockhart, Julie McCracken, Lila Keim , Mark Walker, and the Werling Team consisting of Karen and Paul Werling, Julianna Miller, Nick Burke, and Paul & Decie Wetherhill, will be working out of the prestigious downtown location.
History
Prudential Chaplin Williams brokers, Dee Chaplin and Hugh Williams became partners in 1998 and established Chaplin Williams Realty, Inc. on Amelia Island. In 2004 the property rental division was established which specializes in long term rentals in Nassau County. As the area grew in national and international awareness Dee and Hugh purchased the franchise name of Prudential for worldwide recognition and exposure. Both brokers continue to be very active and hands on in the community and the field of real estate.
In 2007, Dee Chaplin was president of the Amelia Island Nassau County Board of Realtors while Hugh was President of the Multiple Listing Service. Dee is past president of the Board of the Restoration Foundation and still retains membership. Her family owns the only residence left on Centre Street. The fountain in front of the Court House in Downtown was dedicated to the memory of Pat Williams, Hugh’s mother, erected for all the time and energy she spent on stewarding causes of the Historic District.
The roots and involvement of the Prudential team members with the island and the town of Fernandina Beach goes way back tot the days before real estate booms (and busts) and knowing the underlying values of an island community is paramount to successful real estate transactions.
All agents and brokers in the Prudential team acknowledge this by continuing to be a moving part of our community. Dee is slated to return as the 2011 President of the Board of Realtors and many of the Chaplin Williams agents are a part of the Board and committee chairs to better continue to lead the real estate industry in our community, aside from serving in many local charities and service clubs.
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 10, 2010
New Bank Listing in MLS
Address: 319 North 14TH ST , FERNANDINA BEACH , FLORIDA ; 32034-5121 County: Nassau
List Number 526107 Status Active
Property Type Residential Price $ 149,900
Region 40-NASSAU COUNTY Area 410-FERNANDINA BCH DOWNTOWN-WEST
Parcel # 00 00 31 1800 0245 0072 Subd-Legal Verifying Subdivision
Common VERIFYING SUBDIVISION Association Fee N
Assoc Fee $ 0 Assoc Fee Freq N/A
CDD Fee Y/N N CDD Fee 0.00
Bedrooms 4 Full Baths 3
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 2,536 Year Built 1990
John Holbrook - Realtor
904-415-0171
Address: 319 North 14TH ST , FERNANDINA BEACH , FLORIDA ; 32034-5121 County: Nassau
List Number 526107 Status Active
Property Type Residential Price $ 149,900
Region 40-NASSAU COUNTY Area 410-FERNANDINA BCH DOWNTOWN-WEST
Parcel # 00 00 31 1800 0245 0072 Subd-Legal Verifying Subdivision
Common VERIFYING SUBDIVISION Association Fee N
Assoc Fee $ 0 Assoc Fee Freq N/A
CDD Fee Y/N N CDD Fee 0.00
Bedrooms 4 Full Baths 3
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 2,536 Year Built 1990
John Holbrook - Realtor
904-415-0171
Monday, June 7, 2010
Jacksonville Housing Market
Jacksonville, FL – Buyers Lose Interest without the
Tax Credit
(3,320 single-family permits in 2009, 23rd largest market in the country)
Traffic falls in May after the tax credit expired. Buyer traffic fell in May after two consecutive months of higher readings, as our buyer traffic index fell sharply to 39 from 67 in April (readings below 50 point to traffic lower than agents’ expectations). The decline in traffic does not come as much of a surprise as the majority of positive commentary in our April survey was directly related to the benefits of the credit. However, agents also mentioned that a weaker economic outlook among buyers was also partly responsible for the slower demand, as buyers were hesitant to look at homes without better financial stability. The fear of potential job losses increased buyers’ anxiety. We expect demand to
remain slow over the next several months before seeing more consistent improvement
later this year. Prices decline moderately, and inventory levels trend higher. Prices remained under pressure in May, as our home price index came in at 39 (from 28 in April), staying below a neutral reading of 50 (readings below 50 point to lower prices over the last 30 days). Meanwhile, inventory levels continue to add risk to price stabilization, as our home listings index fell to 38 in May from 39 in April, pointing to higher inventory levels for the past month (readings below 50 point to higher inventory levels).
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Tax Credit
(3,320 single-family permits in 2009, 23rd largest market in the country)
Traffic falls in May after the tax credit expired. Buyer traffic fell in May after two consecutive months of higher readings, as our buyer traffic index fell sharply to 39 from 67 in April (readings below 50 point to traffic lower than agents’ expectations). The decline in traffic does not come as much of a surprise as the majority of positive commentary in our April survey was directly related to the benefits of the credit. However, agents also mentioned that a weaker economic outlook among buyers was also partly responsible for the slower demand, as buyers were hesitant to look at homes without better financial stability. The fear of potential job losses increased buyers’ anxiety. We expect demand to
remain slow over the next several months before seeing more consistent improvement
later this year. Prices decline moderately, and inventory levels trend higher. Prices remained under pressure in May, as our home price index came in at 39 (from 28 in April), staying below a neutral reading of 50 (readings below 50 point to lower prices over the last 30 days). Meanwhile, inventory levels continue to add risk to price stabilization, as our home listings index fell to 38 in May from 39 in April, pointing to higher inventory levels for the past month (readings below 50 point to higher inventory levels).
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Thursday, June 3, 2010
Amelia National Home
MLS Number 50810
List Price: $529,000 Beds: 4 Baths: 3 Home Size: 3190 square feet Lot Size: 0.43 acres Year Built: 2006 Property Type: RESIDENTIAL Subdivision: Amelia National
REALTOR COMMENTS
Sell, Sell, Sell. Reduced $200k. Rare opportunity to own a custom built Brylen Home on a founders lot in the gated community of Amelia National Golfcourse designed by Tom Fazio. Country Club living at its finest! Water to golf views. Screened lania, pool and heated spa. Loaded with upgrades. Top level facilities with onsite clubhouse, tennis courts, and restaurant. Gourmet kitchen with gas range, granite countertops, center island and custom cabinets. Plenty of space for entertaining or family gatherings. Deluxe game room adjacent to main living room. Fireplace and wet bar are just some of the attractive features of this home. 15 minute drive to Jacksonville airport. Ask about additional photos.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
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