LATEST FLORIDA HOME SALES NEWS:   WHY IS RIGHT NOW THE BEST TIME EVER TO BUY A PROPERTY IN FLORIDA? Florida single family home sales in Florida were up 33% for the month of JANUARY 2010  compared with the prior year, and condo sales gained 91%.  REALTY TIMES reports that Lawrence Yun, chief economist for the National Association of Realtors which conducts the pending sales survey said the swings from month to month are "masking the underlying trend (in housing) which is a broad improvement over year-ago levels."   Yun also predicts that that the two home purchase tax credits -- the extended $8,000 credit and the new $6,500 credit -- will have a significant impact on closed sales in the coming several months.  He forecasts that the two credits combined will stimulate 2.4 million sales in 2010, and most of that activity will be compressed into the first six months of the year. December's pending sales contracts were 11 percent higher than December 2008's.

19^th ANNUAL BIG WINTER SPECTACULAR 

WEST PALM BEACH ANTIQUES FESTIVAL.

Florida’s largest antique show with more than 1000 dealers hosts the Big Winter Spectacular on February 5-7, 2010.  An Early Buyer pass can be purchased to enter from 9-12 Friday mornings for $25 and is good all weekend.  Daily admission is $7 for adults, $6 for seniors.  Children under 16 are free.  Discount coupons for admissions are available in the newspapers and at http://www.wpbaf.com.

You will find everything from period furniture from the 1700’s to 1960’s modernism for sale.  Glass and jewelry repair will be onsite, while you wait and shop around your items can be fixed.  Browse and shop inside huge new air conditioned buildings, and outside more than 100 dealers set up in covered areas or tents.  Unlimited free parking, and food and drink concessions are available.

Hours are:
Friday, 2/5: noon to 5 pm

Saturday, 2/6 9 am to 5 pm

Sunday 2/7: 10 am to 4:30 pm

The Americraft Expo Center at the South Florida Fair is located at 9067 Southern Boulevard in West Palm Beach.  From the Florida turnpike go west on Southern Boulevard for 1 ½ miles.  From I-95 go west on Southern Boulevard for 7 miles. 

For more information email info@wpbaf.com or call 941-697-7475.

Florida single family home sales in Florida
were up 33% for the month of JANUARY 2010 
compared with the prior year, and
condo sales gained 91%.

THE WHITE HOUSE LOST MARKET VALUE TOO…      

The Palm Beach Post Real Estate News page reports that,  “you and your neighbors are not alone.  The place the president and his family call home was worth 5.1% less last year, one analyst says.”

Zillow “zestimates” 1600 Pennsylvania Avenue, NW, Washington DC (The White House) at $288,494,000.  The residence has 16 bedrooms, 35 baths and is 55,000 sq ft.  They further estimate a monthly mortgage payment would be $1,216,562.

START COLLECTING YOUR WARES FOR SALE NOW AND GET A BOOTH ($25) AT DELRAY BEACH’S TRASH & TREASURE YARD SALE FEBRUARY 6^TH

Turn your wares into cash by renting a 10x10 area at the TRASH AND TREASURE YARD SALE.  $25 fee must be paid by February 6^th at Administrative Office, Crest Theatre Building, open  Mon/Fri 9 am to 5 pm.  Load in between 6 and 8 am Friday, Feb 6th – yard s le is under BIG tent Entertainment Pavilion from 8 am to 1 pm.  NO Dealers and NO flea market items. Sale is for the general public.  A Goodwill truck will be on site after the sale to take any remaining items for donation.  Old School Square is at 51 North Swinton Avenue (off Atlantic Avenue) in Delray Beach.  For more information call 561-243-7922.

AZURA BOUGHT OUT OF FORECLOSURE BY TOLL BROS.

Located on the east side of Jog Road, just south of Polo Club, an affiliate of homebuilding giant Toll Bros. has taken title to the unfinished 37-acre Azura estate home project in Boca Raton.  It was planned for 92 homes ranging in price from $1.6MM - $3MM and touted as one of the premier developments in Boca Raton.  .  Most lots are vacant, only 7 were sold for a total of $19MM.

Initial sale and assumption agreement were signed in October.  Regions Bank won a $43.1MM foreclosure judgment against developers Polo Field Estates and Gordon Homes in early December and the bank sold the mortgage to Toll FL X.L.P. on December 23^rd.

At the foreclosure sale on January 11^th, Toll FL X won title to Azura after submitting a $5.1MM bid, based on the $43.1MM foreclosure judgment it acquired when it bought the mortgage.

PALM BEACH POETRY FESTIVAL

The Old School Square Cultural Arts Center is the location for the 6^th Annual six days of readings, lectures and poetry workshops. from Monday, January 18^th through Saturday, January 23^rd.  Twelve award-winning international poets will be featured as fans from 25 different states listen to participating poets in readings, talks and panel discussions.  Nine of the events are ticket and there are two free poetry readings. 

The faculty includes critically acclaimed poets who teach in graduate and college level writing programs and include the New York Poet Laureate, winner of the National Book Awared and many other  staff have received outstanding awards and fellowships.

Tickets are available through the festival website and at the Crest Theatre Box Office at Old School Square, or by phone at 561-243-7922. Tickets are $12 for adults, $10 for seniors and $8 for students. Special student group rates are available.

Visit http://www.palmbeachpoetryfestival.org/ for more information and a complete list of events.

KEY WEST TRUMAN LITTLE WHITE HOUSE-A GREAT PLACE TO VISIT!

From 1946 to 1952, The Harry S. Truman Little White House was the winter White House of America, and subsequently used by later Presidents.  Fourteen American Presidents have vacationed in the Florida Keys and Key West.  This was a relaxing and restoring environment when dealing with the threats of the Cold War. Opened in 1991 as the only Florida Presidential Museum, almost 90% of the furnishings are original to the site, giving an intimate view of Truman’s personal life.  Restoration is ongoing to bring the property even closer to its 1949 appearance.  Public donations are accepted by the Harry S.Truman foundation.

Tour Guides offer glimpses into the Cold War politics, personal views of Truman, and the Naval History of Key West.  The tours are occasional closed for government functions.  The home can be used for Private Events as well.  Your can host your own private state dinner for two or for one hundred and have an extraordinary dinner party.  Weddings are held here too.  From February 1 to April 1, 2010, “With Love, Harry” will celebrate Bess Truman’s 125^th birthday.  Included will be a display of the thousands of letters sent between Harry and Bess over 50 years. Botanical Gardens tours reveal an acre of tropical foliage and trees surrounded by the original 1890 wrought iron fence.

Christmas is a special time here, with “Harry’s Girls” decorating the house.  There is a Museum Gift Shop featuring White House Ornaments dating back to 1999.  Recently Truman’s 125^th birthday was celebrated at the Little White House representing three of his most important decisions: recognition of the state of Israel, the berlin Airlift and desegregation of the military.  The birthday cake was served by  “Harry’s Girls.”

Thirty-five percent of Americans polled by Washington Whispers picked the Key West Little White House as the place they most would like to visit, topping all other seasonal White House locations.  Click here for TOUR INFORMATION.  You can call 305-294-9501 for information.

REPORT ON THE ECONOMY

The Washington Post reports that:

"There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well.

"Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.

"And the net worth of American households -- the value of their houses, retirement funds and other assets minus debts -- has also declined when adjusted for inflation, compared with sharp gains in every previous decade since data were initially collected in the 1950s." (See: "Aughts were a lost decade for U.S. economy, workers," Jan. 2, 2010)

Translation: The economy was downsized during the past decade.

We're just not going to have a better real estate market, or much of anything else, until demand for labor increases in terms of both jobs and real income.

NEW YEARS GOOD NEWS: CHAMPAGNE KEEPS HEART DISEASE AT BAY

 Top British scientists tell us to start New Year with a “glass of bubbly,” to keep strokes and heart attacks away, like two glasses of red wine is recommended for as well.  According to Dr. Jeremy Spencer of Reading University, who asked the Daily Mail, “a couple of glasses a day has a beneficial effect on the walls of blood vessels—which suggests champagne has the potential to reduce strokes and heart disease.”  Other types of sparkling wines can help, and perhaps a mug of hot cocoa, though Dr Spencer said, “While the benefit is the same, it doesn’t seem as much fun somehow.”  We leave the choice up to the readership!

INTERESTED IN DOING THE "IN" THING?

Don't miss Stefan Swanepoel's DEFINITIVE INFO on SOCIAL MEDIA and 10-DAY Action plan. Many free good downloads. http://tinyurl.com/yczfqmc

STORY OF RUDOLPH THE RED NOSED REINDEER... confirmed by SNOPES as true

 

A guy named Bob May, depressed and brokenhearted, stared out his drafty apartment window into the chilling December night. His 4-year-old daughter, Barbara, sat on his lap quietly sobbing. Bobs wife, Evelyn, was dying of cancer. Little Barbara couldn't understand why her mommy could never come home. Barbara looked up into her dads eyes and asked, "Why isn't Mommy just like everybody else's Mommy?" Bob's jaw tightened and his eyes welled with tears. Her question brought waves of grief, but also of anger. It had been the story of Bob's life. Life always had to be different for Bob. Being small when he was a kid, Bob was often bullied by other boys. He was too little at the time to compete in sports. He was often called names he'd rather not remember.

From childhood, Bob was different and never seemed to fit in. Bob did complete college, married his loving wife and was grateful to get his job as a copywriter at Montgomery Ward during the Great Depression. Then he was blessed with his little girl. But it was all short-lived. Evelyn's bout with cancer stripped them of all their savings and now Bob and his daughter were forced to live in a two-room apartment in the Chicago slums. Evelyn died just days before Christmas in 1938. Bob struggled to give hope to his child, for whom he couldn't even afford to buy a Christmas gift. But if he couldn't buy a gift, he was determined a make one - a storybook!

Bob had created an animal character in his own mind and told the animal's story to little Barbara to give her comfort and hope. Again and again Bob told the story, embellishing it more with each telling. Who was the character? What was the story all about? The story Bob May created was his own autobiography in fable form. The character he created was a misfit outcast like he was. The name of the character? A little reindeer named Rudolph, with a big shiny nose.

Bob finished the book just in time to give it to his little girl on Christmas Day. But the story doesn't end there. The general manager of Montgomery Ward caught wind of the little storybook and offered Bob May a nominal fee to purchase the rights to print the book. Wards went on to print Rudolph the Red-Nosed Reindeer and distribute it to children visiting Santa Claus in their stores. By 1946 Wards had printed and distributed more than six million copies of Rudolph. That same year, a major publisher wanted to purchase the rights from Wards to print an updated version of the book. In an unprecedented gesture of kindness, the CEO of Wards returned all rights back to Bob May. The book became a best seller. Many toy and marketing deals followed and Bob May, now remarried with a growing family, became wealthy from the story he created to comfort his grieving daughter.

But the story doesn't end there either. Bob's brother-in-law, Johnny Marks, made a song adaptation to Rudolph. Though the song was turned down by such popular vocalists as Bing Crosby and Dinah Shore , it was recorded by the singing cowboy, Gene Autry. "Rudolph the Red-Nosed Reindeer" was released in 1949 and became a phenomenal success, selling more records than any other Christmas song, with the exception of "White Christmas." The gift of love that Bob May created for his daughter so long ago kept on returning to bless him again and again. And Bob May learned the lesson, just like his dear friend Rudolph, that being different isn't so bad. In fact, being different can be a blessing!

OLD SCHOOL SQUARE’S CREST THEATER PRESENTS 

WINTER WONDERLAND ON ICE          

  

With 3 performances coming up, you don’t want to miss the international cast of champion pairs an soloists, colorful costumes and exciting music, electrifying jumps, lifts and spins and enchanting vocals.  Olympic Bronze medalist and 2-time European Champion Jozef (“Jumpin’ Joe) Sabovcik will WOW us with his skating performance.  Performances are Friday, December 18^th at 8 pm; Saturday, December 19^th at 2pm and 8pm; Sunday, December 20^th at 2 pm and 7 pm.   

Tickets are $42 and can be ordered online at http://www.oldschool.org/ or by calling 561-243-7922, ext 1.  The Crest Theatre is located at Old School square, 51 No. Winton Avenue, Delray Beach.   

Come early with the elementary school (and pre-school) children who can ride the Carousel.  Carousel hours are 5-9 pm weekdays and 1-9 pm weekends and during school break.  Rides are $2 each.

WHERE THE WILD THINGS ARE

Visit the Panther Ridge Conservation Center in Wellington to see the lifetime home for abandoned, abused or unwanted captive, exotic felines.  Here you can learn about the challenges these animals face in the wild, medical care, nutrition and the problems related to private ownership.  The animals roam within a 3-acre pen.   

The Center is located at 14755 Palm Beach Point Boulevard in Wellington, FL 33414 - Phone: 561-795-8914.  Group and Individual Tours can be arranged. 

The Center survives as a non-profit organization thanks to contributions from corporations, individual patrons and veterinary facilities.  

Come on over on December 13^th for hors d’oeuvres, entertainment, raffle prizes and take a photo with a baby jaguar at their fund raising event from 12-3 pm at LoLa Restaurant and Ultria Lounge, 16950 Jog Road, Delray Beach.  561-496-5652.

STAGING TO SELL… WHAT IT’S ALL ABOUT

Robb & Stucky in Boca Raton will present ideas for anyone thinking of selling their residence on December 29^th at 2 pm.   Learn how to “prep” your home for a faster sale, and how you can make your property stand out from others on the market.   It could make the difference in this highly competitive market as to whether the house sells or not, and/or result in getting a faster sale.  Details also will be discussed on current real estate market trends. 

Robb & Stucky is located in Mizner Park at 200 Plaza Real.  You can also request a complimentary design consult.  Call 561-862-5597 to reserve a seat for this seminar which is free to the public.  Click here for a list of other seminars and events at the Boca Raton store.

WHAT TO DO AT GUMBO LIMBO

NATURE CENTER in BOCA RATON

Founded in 1984, Gumbo Limbo’s mission is to increase public awareness of coastal and marine ecosystems through research, education, preservation and conservation.   Stroll through the butterfly garden, climb the observation tower located on the winding boardwalk through coastal hammock, sit in a Chiki hut, visit the saltwater tanks brimming with marine life, including sea turtles, fish, sharks and rays and take pictures in our sea turtle garden with 7 giant turtles. 

Marine and coastal environmental education for the community is provided through classes, workshops, lectures, field trips and research.  Programs are given for children, adults and families. Sea Turtle Research includes information on tracking them and observing their nests in the area.   Closed on Christmas and New Years Day, the Center is open 361 days a year, Monday thru Saturday from 9 am – 4 pm, Sunday from Noon to 4 pm.  For information, call 561-338-1473.

 

SHOP TIL YOU DROP ON THE BUSIEST SHOPPING DAY OF THE YEAR

A must stop is the Trash and Treasure Yard Sale at the Old School Square Grounds, being held 8 am to 1 pm on November 27th.  For you treasure hunters, THIS is the place to be!  Recycle and reuse previously loved items and find hand-crafted treasures by local artists and non-profits.  The kids will love to ride on the Holiday Carousel.   Booths are still available for a $25 tax deductible entry fee for 10’x10’,,, clean out your closets, cupboards, garages and storage units.  Participants are residents, artists, crafters and non-profits; no dealers no free market vendors.  Sign up by November 25^th with cash or check at the Administrative Offices in the Crest Theatre building, 1^st floor, from 9-5 Monday thru Friday.  Make checks payable to Old School Square.  Call 561-243-7922 X391 or email volunteer@oldschoo.org.  Unsold “stuff” can be taken away after the sales by a  GOODWILL donation truck.

Mizner Park Mall Owner will exit bankruptcy by 2010

According to Reuters, General Growth Properties, the second-largest mall owner in the U.S., which operates Boca Raton's Mizner Park mall, has reached a deal with its lenders to extend loans, a move that will allow it to exit bankruptcy by 2010. Representatives from 70 of General Growth's loans, some of which exceeded $1 billion in value, agreed to extensions averaging six years. The Chicago-based company's financial woes, marking the biggest real estate failure in U.S. history, according to a report from Reuters, have underscored the nationwide retail crisis, as vacancies in the retail real estate sector have continued to mount as the holiday season approaches.

DEED FOR LEASE PROGRAM (DL-4)

New program announced by Fannie Mae (Federal National Mortgage Association) to keep mortgage-challenged borrowers in their homes. Qualified borrowers relinquish the deed to their property and rent their home at market rate for 12 months. To read more about it, see Chris Thorman’s informative blog. Your comments are most welcome!

CAN LIFE SETTLEMENTS WORK FOR YOU AS A NEW SOURCE FOR FUNDS?

·        Your term policy can be evaluated in the Life Settlement Market if it can be converted to Universal Life; it would be converted during the closing process

o      If your health has deteriorated to the point where premiums on new life insurance would be cost prohibitive converting term to universal or whole life may be the only viable option

·        Have your whole life premiums escalated making you consider surrender or lapsing the policy perhaps for low cash payout?  A Life Settlement MAY BE THE BEST SOLUTION – cash out under performing insurance and use the proceeds to purchase more appropriate coverage.

·        Does your business hold life insurance that may no longer be necessary, and in need of reevaluation and change to life settlement or other solution, e.g.

o      due to retirement of key executive

o      partnership dissolution

o      executives who do not wish to keep a policy in a retirement package in force

o      change of business ownership

o      exit strategies for benefit programs

o      proper market asset valuation of business owned life insurance

·        Do you have life insurance providing a deferred benefit to a charity, and if so, would you prefer a solution that will make more immediate donations during your lifetime?  If yes, consider a life settlement solution.  The charities then will not have premium obligations when you pass on.

MORE INFORMATION

1st TIME HOMEBUYERS TAX CREDIT EXTENDED TO APRIL 30, 2010

The $8000 tax break for first-time home buyers would require a signed purchase agreement contract, and will have a 60-day cushion beyond the end of April to complete the closing.

In addition, existing homeowners who have lived in their current residence for at least 5 years but want to relocate to a new primary residence can use a $6,500 tax credit.

Income limits for both would be $125,000 for individuals and $225,000 for couples.

The tax break would be offered on homes priced at $800,000 or less Recipients who sell the home or stop using it as their primary residence within 3 years would be required to repay the credit

ART REIGNS SUPREME
The New York Times reports that prices at Sotheby’s Auction far surpass estimates. A recent auction was well represented by buyers from the US, China, Latin America and Russia. A Derain, “Barque au Port de Collioure sold for $14MM recently, the highest price for one of the artists works at auction. It was estimated to sell for $8MM but there were 3 bidders and one was determined to win the painting.

TIME FOR A RETURN TO THE VICTORIAN ERA?

Are you interested in Victorian homes in Palm Beach or Broward County? Call Marilyn at 561-302-3388 for more information.

Meanwhile, mark your calendar now for a very interesting afternoon. Enjoy a “Harvest Tea” and treats with Victorian hostesses in costume and your personal butler, most elegantly done by The Mad Platter Catering and Befitting Just Your Style at Robb & Stucky at 200 Plaza Real in Mizner Park on Wednesday, November 23 at 2 pm. See a traditional Victorian Thanksgiving… and get new ideas for your own holiday. Tips will be offered on blending older furnishings with today’s lifestyle with your own distinctive touch. Reserve by calling 800-838-5931 for pricing and reservations.

Design Professionals: Did you know that Robb & Stucky offers CEU Classes for you? See http://www.robbstucky.com/CEU-Classes-for-Design-Professionals.aspx?Id=10 for list of classes.

For AUCTIONS: BEST BUYS IN TOWN and HISTORIC HOMES: WHAT'S OLD IS NEW AGAIN See The Examiner.

DELRAY BEACH HISTORICAL SOCIETY FEATURES EXHIBITS

Looking for a unique outfit? Cason Cottage, originally built in 1915, will feature a Vintage Clothing Exhibit and Sale and is open Thursdays, Fridays and Saturdays until November 27^th, from 11 am to 3 pm. $4 per person; 10% of clothing sales will be donated to the Delray Beach Historical Society located at 3 NE 1st Street, Delray Beach.

“Ride and Remember” Quilting Exhibit – 5-7 pm Receiption at ESW Learning Center within Historical Society location.

Boooo… Halloween Fair, “Celebration of Generations includes candy hunt, face paintings, costume parade and more, Saturday Oct 31 from 11-3 within Historical Society location

For more details go to http://www.db-hs.org/ and http://www.museumsusa.org/museums/info/1160268 .

WEEK OF 10-12-09 PENDING SALES ROSE BY 2% IN SOUTH FLORIDA

Buyers are becoming aware that NOW is the BEST TIME EVER to buy in Florida, and the best properties are being bought up as you read this. Front runner Palm Beach County was up 3%. Have you been out looking for the best possible deal? Better hurry….

HOW LONG WILL FOOD STAY OKAY IN YOUR HOUSE?
Keep it or toss it? Head over to http://www.stilltasty.com, and find out shelf life, and length of time it’s ok in the refrigerator or freezer. Search for the foods you want to know about. You might find some surprises!

SEPTEMBER 2009 HOUSING NEWS

HOUSING INDUSTRY GROUPS WORKING ON APPRAISAL REFORMS

Things are looking up as this thorny appraisal vs.comparables problem is faced at last. Among the issues being discussed jointly by the NAR (National Association of Realtors), NAHB (National Association of Builders), MBA (Mortgage Bankers Association and appraisal groups are:

· Appraisers not using proper adjustments on comps (comparables) on foreclosed or other distressed properties

· The HVCC (Home Valuation Code of Conduct) impacting the ability to get quality appraisals in distressed markets

· Some appraisers for comps in area they are not familiar with and that impacts the appraisals, driving down home values

· Urging federal regulators to adopt and enforce more clear regulatory guidance on appraisals for distressed and foreclosed properties for realistic valuations and truly comparable sales

· Calling for immediate action to address these appraisal-related claims

· Sometimes appraisers do a “drive by,” only looking at the exteriors of homes as they do not have access, and distressed properties often have apparent problems inside as compared to new, updated, and “market-ready” homes.

Okay government, let’s get this fixed. It IS BROKE.

FOR THOSE WITH PROBLEMS PAYING THEIR MORTGAGES THESE LINKS MAY BE OF INTEREST

MAKING HOME AFFORDABLE PROGRAM

BUYING FORECLOSURES

FORECLOSURE PREVENTION

SHORT SALE GUIDE, ISSUES, PITFALLS AND MORE

Keep in mind: Marilyn's team includes CDPE Graduates (CERTIFIED DISTRESSED PROPERTY EXPERTS) and if you know someone who could use help, please let us know who they are, or suggest they call us. We will do the best that we can to be of help. Call Marilyn at 561-988-0070 for more information.

JOINT COMMISSION FOR PRIMARY STROKE CENTERS GIVES BOCA RATON COMMUNITY HOSPITAL GOLD SEAL OF APPROVAL

The 3^rd large cause of death, about 700,000 people each year experience a new or recurrent stroke. Someone suffers a stroke every 45 seconds and someone dies of a stroke every 3.1 minutes. It is also a leading cause of long-term disability. With timing following the stroke being critical, having a Joint Commission Certified Primary Stroke Center nearby that is staffed with physicians, nurses and other healthcare professionals, is most welcome. The Certification is based on primary stroke center recommendations published by the Brain Attack Coalition and the American Stroke Association’s statements/guidelines for stroke care. The Join Commission was founded in 1951 and strives to continuously improve the safety and quality of care provided to the public.

GREATER BOCA RATON CHAMBER OF COMMERCE AFTER-HOURS NETWORKING

The 4^th Tuesday of every month an event is held with nearly 250 attendees getting networking opportunities. In August the event was held at the Boca Resort Hotel. Your editor attended with friend John Allison, and we had a wonderful time mingling, dancing and... YES!… sampling the delicious foods and wines. The event was called WINE & ALL THAT JAZZ… AND MORE… 2009. Along with lots of people, great food, lots of new hellos, it was a night of wonderful wine from Southern Wine & Spirits of South Florida and fabulous food from Bogart's Bar & Grille, Ruth's Chris Steak House, Saba Asian Dining and Sushi Bar, The Addison Boca Raton, The Capital Grille, Truluck's, and ZED 451. YUM. Belly dancers performed and worked their way through the crowd – one gave Marilyn a lesson… hey! That is great exercise! There is a fee to attend. The Boca Resort Hotel just opened a new huge room – turn right when you enter the main doors and go to the end. It is filled with dark blue banquette lounge seats, and there was a “Neil Diamond-type” singer. $15 buys you 2 drinks and a comfortable seat. Nice place to while away the hours. Every seat was taken! Drop by and enjoy!

DID YOUR PRELIMINARY PROPERTY TAX BILL GO UP?

While local headlines SCREAM that Florida properties were devalued even more this year (did I hear 18%?), the property taxes, inexplicably, are going UP UP AND AWAY. Appeals to the county’s Value Adjustment Board by angry taxpayers for their 2009 property tax bills are expected to climb, perhaps by over 20% up from 13,200 appeals in 2008, challenging property assessments and homestead and tax exemption classifications. Petitions can be file online or in person at 301 N. Olive Avenue, West Palm Beach, until September 14^th, and there is a $15 filing fee. For more information call the Clerk and Comptroller's office at (561) 355- 6289. The Clerks office says that while the increase in appeals may be due to the economic downturn, a state law has changed requiring the property appraisers office to prove their assessments are accurate. In the past the property owner had to prove the assessment was wrong. Special magistrates must be hired to settle disputes between property owners and the county property appraisers office. Responsibility for processing petitions and scheduling hearings lies with the Clerks office. Preliminary tax notices were mailed Friday to all county property owners.

FIRST FLORIDA POPULATION DROP SINCE MILITARY PERSONNEL LEFT IN1946

Blaming the recession and steep drop in new residents of 58,000 over the past year for plunging tax revenues jobs in construction, real estate and mortgage lending have disappeared. This has resulted in empty classroom seats, down about 10,000 statewide compared to the previous year. Current popular is about 18.3 million, says the US Census Bureau.

Florida’s unemployment rate in June was 10,6%, highest rate since 1975, one of the highest rates in the US. Estimates used data from residential electric hookups, building permits and homestead exemptions.

Another factor fewer people are moving to Florida is their inability to sell their homes elsewhere to be able to move here.

However, growth is expected to resume as the economy improves.

STIMULUS PACKAGE’S FIRST TIME HOME BUYERS TAX CREDIT MAY BE EXPANDED

The $8000 tax credit for new buyers using FHA-insured loans can be used for additional down payment funds or towards closing costs, and is set to expire November 30^th. It has been very popular among first time home buyers to the extent of recent home sales to 1^st time home buyers are estimated to be 40% of the market. There is talk from Senate and Congress of:

· extending the tax credit by the end of the year

· raising the tax credit to 15% or 10% of the home’s purchase price, whichever is lower

· removing income restrictions (currently available only to households making $75,000 or less)

· extending tax credit to ALL home purchasers, not just first-timers

· Estimates are that just upping the credit to $15000 would lead to 400,000 more home sales

Foreclosures weighing down many markets would be sold and absorbed. Let’s see if these ideas are passed and implemented.

WANT TO SEE THE US DEBT & CITIZEN LIABILITIES?
US DEBT CLOCK

CASE-SHILLER HOME PRICE INDEX RISES

A May 2009 increase of 0.5% in the closely watched Case-Shiller home price index indicates that the US housing recovery is seen possible now. Prices tumbled more than 32% from their peak in 2Q 2006. Case said that prices may be at the bottom now.

· Preventative risk--management must be a priority going forward, according to Shiller.

· He also stated that the mortgage contract structure must be made to protect home-buyers in case of a downturn. “The new standard for mortgage should be a continuous work-out mortgage,” so that “if home prices fall then your mortgage payment will go down.”

· Shiller cautioned that recent bank bailouts were “extraordinary events that we should want to prevent as much as possible in the future.”

· In June new home sales jumped 11%, the biggest monthly gain in 8 years according the US Commerce Department.

· National association of Realtors said existing home sales rose for the 3^rd straight month in June.

But, with unemployment and foreclosures still rising, caution was advised. Shiller said that confidence in the US financial system is crucial for an economic recovery, and can be best restored by having a clear regulatory framework for investors. He mentioned that foreign investors who were thinking about putting money in this country are feeling somewhat less assured.

REPORTS SHOWING HOUSING MARKET ON THE MEND

With sales up in all four regions of the United States, and the number of previously occupied homes sold in June being the third month in a row to go up, this kind of expansion has not been seen in almost 5 years.

Sales roses 3.6% according to the National Association of Realtors. The foreclosure market is shrinking. It is meaningful that about on third of homes sold in June were foreclosure related, down from nearly half of those sold earlier this year. See the Federal Housing Finance Agency report showing home prices rose almost 1% in May.

There has never been a better time to buy a home in Florida with interest rates down and home prices so much lower than in recent years. The “best buys” are starting to be snatched up now.

NEW PLAN BEING DISCUSSED FOR HOUSES IN FORECLOSURE

According to the Florida Association of Realtors, a plan being developed by both Obama and Congress will allow homeowners to rent their foreclosed home for at least 5 years, maybe as long as 10 years. Motivated by the thought that Florida doesn’t need any more vacant homes, and that the modification plans have not been as successful as Congress hoped, the overall economy as well as the real estate situation in Florida could change for the better with this plan. Florida’s foreclosure rate remains third highest in the nation. One in every 33 households received a default notice, auction notice or bank repossession. One plan is for lenders selling foreclosed homes to approved professional landlords. Another idea is for lenders to sell to private investors, or keep the home and hire a management firm to handle the rental. However, some warn of banks wanting to shed properties rather than become landlords and selling to low-balling investors, which would knock prices farther down.

YOUR ART COULD BE EXHIBITED… AND SOLD… IN PUBLIC PLACES

Your work can be exhibited and sold at the 4-month long Palm Beach International Airport in West Palm Beach. Those waiting for flights could keep busy with looking at the art exhibit that will be held from September 17, 2009 to December 17, 2009. The theme is “Solar Abstrations” and will feature works that explore the power and brilliance of the sun’s splendor here in Palm Beach County. Sponsored by “Art in Public Places.” Go to http://pbcgov.com/fdo/art/calls.htm or email esinger@pbcgov.org for more details. Entry deadline is August 20^th. Entry fee is $10. Pick up your paint brush NOW… and GO FOR IT!

LET IT SNOW… LET IT SNOW… and BRING YOUR MITTENS to a “COOL” EVENT

The last time your editor saw snow in Palm Beach County was when visiting during the winter of 1976, when snow briefly fell in Palm Beach near the water. Palm Beach County will have it’s own winter wonderland this weekend at the Palm Beach Zoo in Dreher Park, Southern Boulevard just east of I-95, for “little kids” and “big kids”. “Winter in July” will be held from 10 am to 4 pm both days. Forty… yes FORTY TONS of snow will fall. Many ice-age fossils will be on display. You can go on a fossil dig, make a fossil shark-tooth necklace, enjoy children’s entertainment, have animal encounters, visit the “sand box” to create your own cool treat, relax in the Florida Pioneer House and hear Arctic-themed stories, meet the “Snow Queen” and learn about sun safety. Go “ice-fishing” and see what prize you can reel in. Admission for adults is $12.95, Seniors 60 and up $9.95, Children 3-12 $8.95, children under 3 and zoo embers are free. The purpose is to educate children about the importance of sun safety and let them experience the wonders of winter without leaving Palm Beach County. The event is co-sponsored by South Florida Parenting Magazine and Panera Bread Company. Sun Safety materials are provided by the Skin Cancer Foundation and Armchem. Daily events at The Zoo include an interactive “Wings Over Water” show with 20 trained birds, 11-3 weekdays and 11-2 weekends This is sponsored by AirTran. The “Wild Things Show’ includes New Guinea Singing Dogs Mic and Sidney, Scooter the South Asian binturong, Xena the African pygmy hedgehog and Boris the Scarlet Macaw and a Brazilian rainbow boa. Come visit and enjoy seeing all the animals!

THE USUALLY GLOOMY CASE-SHILLER INDEX STARTING TO REPORT REAL ESTATE GAINS

With the overall report slightly negative for last month, if Dallas, Denver, DC, Seattle, San Francisco, Atlanta, Boston and Cleveland are showing small increase in home sales, will FLORIDA BE NEXT? According to Realty Times, “even the most bearish of researchers agree: prices are bottoming out, even in some of the hardest hit areas.” They report that detached houses resales were up 56% over a year ago, and condo sales up 30%. Sale prices, however, were down, e.g., down 38% in Phoenix. Consumer confidence is up, especially in willingness to consider “big ticket” items, such as a home. With mortgage rates still very low, this may be THE LAST BEST TIME to buy, RIGHT NOW. Keep in mind that with so many job losses every month and unemployment rates very high, touch credit and underwriting, it is not yet “happy days are here again” by any means. But how nice it is to see a start to home sales trending UP.

INSURANCE PURCHASE TRENDS

According to an article in the July issue of Insurance News Net Magazine, “After Americans lost their shirts in the federally regulated equities market, they were able to find refuge with the guarantees afforded by indexed annuities… Americans who placed over $150 billion in these secure products since 1995 have been sleeping easier at night because of the guarantees.”

Seeking a flight to safety for their reduced holdings, and this includes families who now have one income instead of two, many are placing funds in affordable term insurance, applications for which have climbed steadily over the years.

Marilyn can tell you about term policies that can be converted to cash value universal or whole life policies when you are ready to increase premiums as the economy improves. Meanwhile, your family will be protected. For example Marilyn just wrote an application for a 47 year old male, non-smoker, preferred status, for $750,000. Term is 15 years; convertible. Premium: under $72/month. Premiums will vary with age, tobacco usage and health status. It is predicted that in the future longer term policies will not be available or will be disproportionally more expensive.

Fixed annuities were up 74% for 1Q09 vs. 1Q08. Life insurance applications for the age 60+ group climbed 11.3% in May-09 compared to May-08.

Marilyn Farber Jacobs (561-988-0070) is a Licensed Advisor / Insurance Agent with American Life & Health Group, Inc.

WHAT TO LOVE ABOUT LIVING IN PALM BEACH COUNTY

• Beautiful white, sandy beaches
• Miles of scenic parks and nature preserves
• Oceans, rivers and lakes offering boating, fishing, swimming and other water recreation
• A rich and varied history, which includes the city of St. Augustine, the oldest permanent European settlement in the mainland United States
• Unique family-friendly attractions
• World Class Entertainment Facilities, Museums, Theatres
• Cultural activities offer residents and visitors music, dance and arts events
• Florida’s climate featuring an average annual high of 81 degrees Fahrenheit and an average annual low of 60 degrees
• The state’s homeownership rate currently stands at about 70 percent, well above the national average
• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates

Calling Florida “The Sunshine State” is very fitting for Palm Beach County

REMEMBER THE GOOD OLE DAYS?

Some thought “the world was coming to an end” when we watched the high school generation rebel and dress “casual” with jeans, snap their gum loudly, shake their hips, the girls wore pedal pushers to school and the boys had greasy hairdos. The Lake Worth Playhouse at 709 Lake Avenue in Lake Worth will present Grease during July and August. See PLAYHOUSE SCHEDULE. Relive that time at Rydell High School with John Travolta and Olivia Newton John showing us how it was done, with those wonderful catchy tunes, bringing back the sounds of Elvis, Little Richard and Buddy Holly. Check out the other coming shows for the season as well. Prices are: Mezzanine LQ $25.00, Orchestra AAK $29.00