All the neighboring communities envy Amelia Walk's Club area! Oversized pool, club house for family events, playground, tennis courts, workout room and much more. and if that wasn't enough This Lakefront home is the icing on the cake! Pride of ownership with lots of upgrades like granite, ten foot ceilings and built in speakers! easy to see!
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John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
Wednesday, July 6, 2011
31185 GRASSY PARKE DRIVE Fernandina Beach, FL 32034 Hot Off The MLS!
Well cared for home in popular Flora Parke. Nice, open 3/2 with office (office could be 4th bedroom -already has a closet). Spacious 18'X24' air conditioned & heated Florida Room (wired for spa & cable) with additional extended covered patio area. Huge back yard, (room for pool and then some), fully fenced with long lasting vinyl fence, has 8x10 shed and well for irrigation system. All appliances including a water softener & 2nd full sized refrigerator in garage. Upgraded lighting, plumbing fixtures and ceiling fans. Dont pass this one up!
$199,990
31185 GRASSY 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
$199,990
31185 GRASSY 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
97218 BLUFF VIEW LOT 37 Fernandina Beach, FL 32034 Hot Off The MLS!
2 Story w/master on first floor. Preserve view in private gated community. Glass front door, side entry garage and 10x12 Covered patio. D.R. Horton pays 4.5% up to $7,000 in closing costs when using DHI Mortgage .
$199,990
97218 BLUFF VIEW LOT 37 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
$199,990
97218 BLUFF VIEW LOT 37 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
96223 LONG BEACH DRIVE Fernandina Beach, FL 32034 Hot Off The MLS!
Beautiful "new" never lived -in home with interior columns, solid surface countertops, over the range microwave, sprinkler system, alarm system, sep. laundry room, his and hers vanities, dual sinks in second bathroom, architectural niches and more. Gorgeous award winning pool, playground, tennis courts and 18 hole Jack Nicklaus designed golf course with golf club. Community features Out Post with kayak storage , launch area, outdoor kitchen, boat and RV storage and a sports field. Close to shopping, beaches and houses of worship.
$199,999
96223 LONG BEACH 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
$199,999
96223 LONG BEACH 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
96088 BARNWELL CIRCLE Fernandina Beach, FL 32034 Hot Off The MLS!
This is the perfect home for the feel of country living but with all of your conveniences just right around the corner. Secluded and private on a large shady lot, but convenient to everything. This home has been kept immaculate by the owners and is ready to move right in! It features an open floor plan with vaulted ceilings, sky lights, custom trim & crown moulding through out, and bamboo plank flooring. You also have plenty of room to park your RV, boat, extra car or all 3! A really great neighborhood with nice neighbors on every side. You won't find many like this one at this price!
96088 BARNWELL CIRCLE 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
96088 BARNWELL CIRCLE 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
Marsh Lakes
$200,000null
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
5 things to look for in the real estate market
Interest Rates RiseMany, including us, have been surprised that rates have not risen already. However, the next several months are going to see three distinct changes that will propel rates upward.
As the government starts to leave the mortgage market, private industry will step in. Private industry demands a higher rate of return on their investments. Mortgages will be no different. Studies have shown that 30 year mortgage rates could increase by 1 to 3% over the current rate.
In many higher priced markets, rolling back Conforming Loan Limits means that rates for the mortgages on these properties will resort back to the rates on private jumbo loans. The FHFA informed us that last year, the difference between mortgage rates for jumbo loans and jumbo-conforming mortgages has varied between about ½ and ¾ of a percentage point.
As the economy gets better (and we believe it will), the pressure to keep rates low to stimulate growth will abate.
Some Loan Requirements Tighten but More Can Now Get a LoanLending institutions have already started to introduce stricter mortgage guidelines. Whether the Quality Residential Mortgage (QRM) requirements are instituted as originally proposed or eased somewhat, there is no doubt that guidelines will continue to tighten as we work through the year. However, we believe the private sector will again start introducing alternative mortgage financing but at a greater expense to the consumer. You WILL be able to get a mortgage. It will just cost you more.
Housing Sales IncreaseContracted sales have shown consistent improvement over the last six months and we feel this will continue and actually begin gaining even greater momentum. We believe there is a ‘pent-up’ buying demand caused by the volatility of the market over the last several years. When interest rates start to move upward and alternative financing becomes more available, these buyers will start to jump off the fence. We believe there will be a major upswing in sales over the next six months.
Distressed Properties Increase Markedly
More people are paying their mortgage on time and that is great news for housing in the long term. However, the numbers of distressed properties currently in the foreclosure process is still very swollen. These properties will begin coming to the market in the second half of the year as short sales and foreclosures. The numbers will be staggering in some areas.
Prices Continue to Soften in Most Markets
The current housing inventory for sale and the distressed properties about to come on the market will vastly outnumber the increased supply of purchasers we will see over the next six months. There will be more houses for sale then there will be buyers purchasing them. That oversupply will continue to put downward pressure on prices through the rest of this year and into 2012.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
As the government starts to leave the mortgage market, private industry will step in. Private industry demands a higher rate of return on their investments. Mortgages will be no different. Studies have shown that 30 year mortgage rates could increase by 1 to 3% over the current rate.
In many higher priced markets, rolling back Conforming Loan Limits means that rates for the mortgages on these properties will resort back to the rates on private jumbo loans. The FHFA informed us that last year, the difference between mortgage rates for jumbo loans and jumbo-conforming mortgages has varied between about ½ and ¾ of a percentage point.
As the economy gets better (and we believe it will), the pressure to keep rates low to stimulate growth will abate.
Some Loan Requirements Tighten but More Can Now Get a LoanLending institutions have already started to introduce stricter mortgage guidelines. Whether the Quality Residential Mortgage (QRM) requirements are instituted as originally proposed or eased somewhat, there is no doubt that guidelines will continue to tighten as we work through the year. However, we believe the private sector will again start introducing alternative mortgage financing but at a greater expense to the consumer. You WILL be able to get a mortgage. It will just cost you more.
Housing Sales IncreaseContracted sales have shown consistent improvement over the last six months and we feel this will continue and actually begin gaining even greater momentum. We believe there is a ‘pent-up’ buying demand caused by the volatility of the market over the last several years. When interest rates start to move upward and alternative financing becomes more available, these buyers will start to jump off the fence. We believe there will be a major upswing in sales over the next six months.
Distressed Properties Increase Markedly
More people are paying their mortgage on time and that is great news for housing in the long term. However, the numbers of distressed properties currently in the foreclosure process is still very swollen. These properties will begin coming to the market in the second half of the year as short sales and foreclosures. The numbers will be staggering in some areas.
Prices Continue to Soften in Most Markets
The current housing inventory for sale and the distressed properties about to come on the market will vastly outnumber the increased supply of purchasers we will see over the next six months. There will be more houses for sale then there will be buyers purchasing them. That oversupply will continue to put downward pressure on prices through the rest of this year and into 2012.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
Tuesday, July 5, 2011
Prices begin to Stabilize
Home Prices: Even More Confusion
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
www.jholbrook.ameliaislandrealestatelistings.com
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
www.jholbrook.ameliaislandrealestatelistings.com
Goverment wants out of the mortage business
QRM: The Potential Cost to a Purchaser
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
Almost 14,000 Houses Sold Yesterday
Almost 14,000 Houses Sold Yesterday
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
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, June 28, 2011
75% of Americans support homeownership
WASHINGTON – June 15, 2011 – Nearly three out of four American voters believe that it’s reasonable and appropriate for the federal government to provide tax incentives to promote homeownership, a sentiment that cuts across partisan and regional lines across the country, according to a recent poll conducted on behalf of the National Association of Home Builders (NAHB).
Further, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive.
“Despite the current housing downturn, Americans still see homeownership as a core value and key building block,” says Celinda Lake, president of Lake Research Partners, which conducted the survey along with Public Opinion Strategies. “The bottom line: The bipartisan consensus outside the Beltway is that owning a home remains an essential part of the American Dream, and voters would strongly oppose any efforts by lawmakers to increase barriers to homeownership.”
Two thousand likely 2012 voters were surveyed from May 3 through May 9. Among the poll’s key findings:
• 73 percent of all respondents – both owners and renters – believe the federal government should provide tax incentives to promote homeownership. This support for housing runs strong among all party affiliations, with 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreeing.
• 71 percent of voters oppose proposals to eliminate the mortgage interest deduction, and 63 percent oppose efforts to reduce it. A majority also oppose eliminating the deduction for interest paid on home equity loans, ending the deduction for interest paid on a second home, limiting the deduction for those earning more than $250,000 per year or capping the deduction for homeowners with mortgages over $500,000.
• By a more than two-to-one margin (57 percent to 26 percent), voters said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction. These figures held firm across the political spectrum, with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.
• Even when told that getting rid of the mortgage interest deduction would help ease the federal budget deficit, 65 percent of voters opposed any proposal to abolish the housing tax provision. This strong consensus cuts across partisan lines, with 69 percent of Republicans, 69 percent of Independents and 59 percent of Democrats opposing eliminating the deduction.
• Saving for a downpayment and closing costs is the biggest barrier to homeownership.
• Among voters who are aware of proposals under consideration by Washington policymakers to raise the downpayment requirements for a home loan, 92 percent believe it will make it more difficult to buy a home. Six federal agencies are proposing a national standard to require a minimum 20 percent downpayment, which would be opposed by households most likely to be affected – mortgage holders and renters ages 18 to 54. Among voters in these age groups, 59 percent of renters and 58 percent of those holding a mortgage oppose adding that obstacle to buying a home.
• 81 percent of voters agree on the need to promote policies that encourage homeownership in order to rebuild the middle class and 83 percent believe that a strong housing industry will provide more jobs and strengthen the economic health of local communities.
• 75 percent of voters say that owning a home is the best long-term investment they can make.
• 73 percent of voters who do not now own a home say that it is a goal of theirs to eventually buy a home.
• An even greater percentage of homeowners – 95 percent – say they’re happy with their decision to own a home and believe that owning a own home is important.
© 2011 Florida Realtors®
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Further, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive.
“Despite the current housing downturn, Americans still see homeownership as a core value and key building block,” says Celinda Lake, president of Lake Research Partners, which conducted the survey along with Public Opinion Strategies. “The bottom line: The bipartisan consensus outside the Beltway is that owning a home remains an essential part of the American Dream, and voters would strongly oppose any efforts by lawmakers to increase barriers to homeownership.”
Two thousand likely 2012 voters were surveyed from May 3 through May 9. Among the poll’s key findings:
• 73 percent of all respondents – both owners and renters – believe the federal government should provide tax incentives to promote homeownership. This support for housing runs strong among all party affiliations, with 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreeing.
• 71 percent of voters oppose proposals to eliminate the mortgage interest deduction, and 63 percent oppose efforts to reduce it. A majority also oppose eliminating the deduction for interest paid on home equity loans, ending the deduction for interest paid on a second home, limiting the deduction for those earning more than $250,000 per year or capping the deduction for homeowners with mortgages over $500,000.
• By a more than two-to-one margin (57 percent to 26 percent), voters said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction. These figures held firm across the political spectrum, with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.
• Even when told that getting rid of the mortgage interest deduction would help ease the federal budget deficit, 65 percent of voters opposed any proposal to abolish the housing tax provision. This strong consensus cuts across partisan lines, with 69 percent of Republicans, 69 percent of Independents and 59 percent of Democrats opposing eliminating the deduction.
• Saving for a downpayment and closing costs is the biggest barrier to homeownership.
• Among voters who are aware of proposals under consideration by Washington policymakers to raise the downpayment requirements for a home loan, 92 percent believe it will make it more difficult to buy a home. Six federal agencies are proposing a national standard to require a minimum 20 percent downpayment, which would be opposed by households most likely to be affected – mortgage holders and renters ages 18 to 54. Among voters in these age groups, 59 percent of renters and 58 percent of those holding a mortgage oppose adding that obstacle to buying a home.
• 81 percent of voters agree on the need to promote policies that encourage homeownership in order to rebuild the middle class and 83 percent believe that a strong housing industry will provide more jobs and strengthen the economic health of local communities.
• 75 percent of voters say that owning a home is the best long-term investment they can make.
• 73 percent of voters who do not now own a home say that it is a goal of theirs to eventually buy a home.
• An even greater percentage of homeowners – 95 percent – say they’re happy with their decision to own a home and believe that owning a own home is important.
© 2011 Florida Realtors®
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Demand for rentals increases
SAN ANTONIO, Texas – June 20, 2011 – The downturn in the economy has changed the way people live and think about real estate, forcing many to become renters and sending adult children back home to live.
Three economists at the National Association of Real Estate Editors conference last Friday said those trends could affect the residential real estate market for years to come.
And that double dip you’ve been hearing about in the housing market? Never happened. The market’s still on it’s way down, they agreed.
The sluggish job market, falling home prices and persistent foreclosures have driven up demand in the rental market, especially in hard-hit areas such as Tampa Bay, said Stan Humphries, an economist with Zillow.com.
Foreclosed homeowners are often forced into the rental market. More adult children are moving back home with their parents and more elderly are moving in with their kids, Humphries said.
There’s also an uptick of multiple families moving in together to help make ends meet, he said. This increase in rental demand will translate to higher rental rates this year, said Humphries who predicts rental rates will increase 3.5 to 4.5 percent in 2011, compared to the previous year.
At the same time, Humphries said 1.2- to 2.2-million people will transition from owners to renters over the next couple of years.
Humphries’ other panelists, Jed Smith, an economist with the National Association of Realtors and Mark Dotzour, an economist with Texas A & M Real Estate Center, agreed.
Housing prices are now falling, after a brief period of what looked like stabilization late last year, but all three economists said the nation isn’t experiencing a double dip.
“We never hit bottom in the first place,” Dotzour said.
Dotzour and Smith, with the Realtors, said government intervention, such as tax credit incentives for buyers and failed mortgage modifications, actually made things worse in the long run.
“We like capitalism on the way up and socialism on the way down,” Dotzour said. “And we’re paying for it now.”
Humphries said the government spent $15 billion to $20 billion on tax credits, and “we’re paying all that back.”
The bright side of this continued downturn is that multi-family developers will benefit, the economists said.
Multi-family housing starts are up, and developers are preparing for additional increase in demand, Humphries said.
As foreclosures increase and are resold to people who want to live there, rather than to investors, prices will stabilize. When that happens, he said, single-family demand will increase, too.
But it’s unclear how long it will take for that to happen, Dotzour said.
“Why would a bank wait 24 months to start the foreclosure process?” he said.
Banks are still taking too long to foreclose, he said, adding that the market won’t be stable until all the foreclosure inventory is reabsorbed into the market.
When things have improved, though, Humphries said, the housing landscape in most metros will look different. That’s particularly true, he said, in areas like Tampa Bay, where builders constructed thousands of new homes on the outskirts of the city.
“People want to live closer to cities and in smaller homes,” Humphries said. “A lot of the housing stock in the suburbs don’t speak to that demand.”
That may mean more redevelopment near downtown cores.
Copyright © 2011, Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
Three economists at the National Association of Real Estate Editors conference last Friday said those trends could affect the residential real estate market for years to come.
And that double dip you’ve been hearing about in the housing market? Never happened. The market’s still on it’s way down, they agreed.
The sluggish job market, falling home prices and persistent foreclosures have driven up demand in the rental market, especially in hard-hit areas such as Tampa Bay, said Stan Humphries, an economist with Zillow.com.
Foreclosed homeowners are often forced into the rental market. More adult children are moving back home with their parents and more elderly are moving in with their kids, Humphries said.
There’s also an uptick of multiple families moving in together to help make ends meet, he said. This increase in rental demand will translate to higher rental rates this year, said Humphries who predicts rental rates will increase 3.5 to 4.5 percent in 2011, compared to the previous year.
At the same time, Humphries said 1.2- to 2.2-million people will transition from owners to renters over the next couple of years.
Humphries’ other panelists, Jed Smith, an economist with the National Association of Realtors and Mark Dotzour, an economist with Texas A & M Real Estate Center, agreed.
Housing prices are now falling, after a brief period of what looked like stabilization late last year, but all three economists said the nation isn’t experiencing a double dip.
“We never hit bottom in the first place,” Dotzour said.
Dotzour and Smith, with the Realtors, said government intervention, such as tax credit incentives for buyers and failed mortgage modifications, actually made things worse in the long run.
“We like capitalism on the way up and socialism on the way down,” Dotzour said. “And we’re paying for it now.”
Humphries said the government spent $15 billion to $20 billion on tax credits, and “we’re paying all that back.”
The bright side of this continued downturn is that multi-family developers will benefit, the economists said.
Multi-family housing starts are up, and developers are preparing for additional increase in demand, Humphries said.
As foreclosures increase and are resold to people who want to live there, rather than to investors, prices will stabilize. When that happens, he said, single-family demand will increase, too.
But it’s unclear how long it will take for that to happen, Dotzour said.
“Why would a bank wait 24 months to start the foreclosure process?” he said.
Banks are still taking too long to foreclose, he said, adding that the market won’t be stable until all the foreclosure inventory is reabsorbed into the market.
When things have improved, though, Humphries said, the housing landscape in most metros will look different. That’s particularly true, he said, in areas like Tampa Bay, where builders constructed thousands of new homes on the outskirts of the city.
“People want to live closer to cities and in smaller homes,” Humphries said. “A lot of the housing stock in the suburbs don’t speak to that demand.”
That may mean more redevelopment near downtown cores.
Copyright © 2011, Tampa Tribune, Fla., Shannon Behnken. Distributed by McClatchy-Tribune Information Services.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.netwww.johnholbrook.blogspot.com
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