Florida Cash Real estate Purchases

Florida leads nation in cash-only home sales Florida led the nation last month with what one expert called an "astounding" rate of all-cash home sales: 66 percent, a new report shows. Investor groups, international buyers, landlords and those in the market for vacation homes are fueling a cash-only market that has virtually shut out entry-level homebuyers, who can't get approved for mortgages. More from the Orlando Sentinel and the South Florida Sun-Sentinel. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Fernandina's Young homebuyers

According to the National Association of Realtors’ 2013 Home Buyer and Seller Generational Trends study, the average Millennial home buyer (32 years old or younger) purchased a home within 8 miles of their previous home, whether leased or owned. To put icing on the cake for all of the incredible lead converters out there: 69% of Millennials contacted and worked with just one agent in the home buying process. This is a higher percentage than any other age group in the survey. Furthermore, 59% used the same agent to sell a home as when they purchased. Again, the highest of any generational group. Why is this important? It proves once and for all that there isn’t some mythical land where young home buyers will come from. We are right in front of you, working in the communities we live, and where we plan on staying for a while. No media article or pundit can take away from what quantified studies prove. Contrary to certain media opinions, Millennials are not fickle narcissists who only care about themselves: We as a generation want an agents’ experience in negotiations, not their beliefs about what THEY think we need. Millennials are an important part of the market, and like anyone else, we will use the agent that best suits our needs. Most likely, that agent will be someone who listens, understands why young home buyers are purchasing, and understands they are an advocate for their clients. You don’t need to reinvent the game. Do what you do best. Take young home buyers seriously, and be visible…on the internet AND in your community. Now, when a young home buyer approaches you at Starbucks with Beats™ by Dre headphones and Rayban Clubmasters® on, don’t dismiss them. They may have invented a website worth billions or just be hard working professionals. But, at some point, they realize it is time to buy their first home and start a family as has every other generation throughout history. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Field Street

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

House Pricing is Still about Supply and Demand

House Pricing is Still about Supply and Demand

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

Real Estate Prices over 30 Years [INFOGRAPHIC]

Real Estate Prices over 30 Years [INFOGRAPHIC]

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

Fort Clinch on Amelia Island

Welcome to Fort Clinch State Park A part of the park system since 1935, Fort Clinch is one of the most well-preserved 19th century forts in the country. Although no battles were fought here, it was garrisoned during both the Civil and Spanish-American wars. During the 1930s, the Civilian Conservation Corps began preserving and rebuilding many of the structures of the abandoned fort. Daily tours with period reenactors depicting garrison life bring the fort to life for visitors. Sunbathing, swimming, and beachcombing are popular activities at the beach. Anglers can fish from the pier or take advantage of excellent surf fishing. Hikers and bicyclists can enjoy a six-mile trail through the park. Self-guided nature trails provide opportunities to learn about and observe native plants and wildlife. A full-facility campground and a youth camping area provide overnight accommodations. www.floridastateparks.org John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Plantation Point on Amelia Island

About Plantation Point Plantation Point was developed in the early 1990's on the south western end of Amelia Island on the lands along Harrison Creek. Plantation Point is just north of Amelia Island Plantation and is a gated community with beautiful live oak trees. Some homesites front the marsh and have wonderful marsh views. Beautiful golf courses, shopping centers, restaurants, and Historic Downtown Fernandina are only a short distance away. Interesting fact about Plantation Point during construction. It was discovered that native Americans of the Orange Period and the St. Johns Period once inhabited the land some time between 1000 and 2000 BC. Construction plans were changed to allow the archaeological team to excavate portions of the sites in order to save for future generations the information that these early occupants left behind in the archaeological sites on the property. www.plantationpoint.org John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Amelia River Golf - Fernandina Beach

Amelia River Golf Club 4477 Buccaneer Trail Fernandina Beach, Florida 32034 Pro Shop: 904-491-8500 Restaurant: 904-271-4039 Lee Allen Director of Golf lallen@ameliariverclub.com Colson Hillier Director of Marketing chillier@ameliariverclub.com James Wathen Golf Course Superintendent jwathen@ameliariverclub.com Alan Clack Head Golf Professional aclack@ameliariverclub.com Mark Dailey PGA Professional mdailey@ameliariverclub.com Kellie Culbreth Marketing and Special Events kellie@lickwidmarketing.com Arnaldo Gonzalez Food and Beverage Director papi@ameliariverclub.com John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Loans in Fernandina Beach

Ending Freddie Mac and Fannie Mae will mean two things to the housing industry: higher rates and probably shorter mortgages. This will result in larger monthly mortgage payments. Fannie Mae and Freddie Mac are government run agencies that have propped up a troubled real estate market over the last several years. The agencies always had a place within the mortgage sector but over the past several years have been involved in over 90% of new mortgage originations. As they wind down this involvement, the mortgage space may change dramatically. David Stevens, CEO of the Mortgage Bankers Association and a former Obama administration housing official, in a recent AP article explains what will be the result of winding down Fannie and Freddie: “You have to assume that almost in any future model being drafted, loans will be more expensive.” This will be felt in two ways. Higher Interest Rates In the same AP article, Mark Zandi, chief economist at Moody’s Analytics, reveals: “It will mean higher mortgage rates. The question is how much higher.” According to Zandi, borrowers could pay about ½ point higher in interest rate ($75-$135 extra in interest payments per month to the average purchaser on a $200,000 loan). Why a projected increase in rates? The average 30 year mortgage rate over the last three decades is 8.69%. From 2003-2008, it was 6.06%. Part of the government’s stimulus program was spent on keeping mortgage rates low while the economy recovered. Many think that rates will return to the 6-6.5 range should Fannie and Freddie cease operations. Shorter Loan Terms Once Freddie and Fannie no longer exist, the question becomes whether or not the private sector will any longer feel comfortable issuing a fixed rate loan for 30 years. In Canada, for example, they don’t even have 30 year fix rate mortgages available. The vast majority of Canadian home loans have a 25 year payout with the interest rate being renegotiated every five years. If rates go down, the borrower will wind up with a lower rate. If rates go up, the borrower ends up paying a higher rate. If you want a fixed rate mortgage for 25 years you pay a rate approximately two percentage points higher than the going rate at the time of your closing. Some believe that the private sector will no longer make the 30 year mortgage option available for at least a portion of borrowers. Bottom Line It will be interesting to see how the winding down of the two agencies impacts the housing market going forward. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.johnholbrook.blogspot.com www.jholbrook.ameliaislandrealestatelistings.com

Real Estate without Freddie and Fannie

Real Estate without Freddie and Fannie

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

Buying or Selling a Home? Where Are Values Headed?

Buying or Selling a Home? Where Are Values Headed?

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

Things Have Changed. Have You?

Things Have Changed. Have You?

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

5 Demands to Make on Your Real Estate Agent

5 Demands to Make on Your Real Estate Agent

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