My Listings

My Listings
Browse my web site

Friday, February 20, 2009

New Homeowner Affordability and Stability

Today, President Barack Obama announced a new U.S. government plan designed to help more Americans who have fallen behind on their mortgage payments or are in imminent danger of missing a payment. Called the Homeowner Affordability and Stability Plan, it includes both a modification program for at-risk borrowers and refinance initiative for Fannie Mae and Freddie Mac borrowers who are current on their mortgage payments.

As stated by Fannie Mae President and CEO Herb Allison in a media statement, "Fannie Mae is committed to working with the Administration, FHFA and our industry partners to rapidly implement the President's Homeowner Affordability and Stability Plan and we will make every possible effort to help eligible borrowers sustain homeownership over the long term."

For More Information
We are still working through the details of program implementation and expect to issue Guide Announcements in the near future.
In the meantime, please refer to the government's new Web site, FinancialStability.gov, which includes an executive summary, fact sheet, case studies, and Q&A.

New Homeowner Affordability and Stability

Today, President Barack Obama announced a new U.S. government plan designed to help more Americans who have fallen behind on their mortgage payments or are in imminent danger of missing a payment. Called the Homeowner Affordability and Stability Plan, it includes both a modification program for at-risk borrowers and refinance initiative for Fannie Mae and Freddie Mac borrowers who are current on their mortgage payments.

As stated by Fannie Mae President and CEO Herb Allison in a media statement, "Fannie Mae is committed to working with the Administration, FHFA and our industry partners to rapidly implement the President's Homeowner Affordability and Stability Plan and we will make every possible effort to help eligible borrowers sustain homeownership over the long term."

For More Information
We are still working through the details of program implementation and expect to issue Guide Announcements in the near future.
In the meantime, please refer to the government's new Web site, FinancialStability.gov, which includes an executive summary, fact sheet, case studies, and Q&A.

Thursday, February 19, 2009

Some stats

The number of out-of-state residents moving to Florida in 2008 was down 30 percent compared to five years ago, according to an AP analysis of driver's license applications.
The number of new residents from New York, Florida's top feeder state, declined 50 percent. I guess it didn't get cold enough for them to make the move.

Tuesday, February 17, 2009

Market Value

Thinking of selling your home? Not sure if you are upside down in today's real estate market? Why not call me if you are in the Palm Coast or Flagler area for a CMA (Comparable Market Analysis) and see what options you have. You might want to hold on to the house and rent it until the real estate market adjusts.
Now on the other hand, if you are looking to buy or invest in real estate, now is the perfect time. The chief economist for the National Association of REALTORS said that this scenario would probably not be duplicated in our lifetime. Meaning the home prices and interest rates are at an all time low.

Saturday, February 14, 2009

Tax Credits

The current version of the economic stimulus contains a tax credit of up to $8,000 for first-time homebuyers only, though it does not have to be paid back if the house is owned for three years or more. The amount is far less than the $15,000 initially expected, and analysts say it will provide only a modest boost to the U.S. housing market

Friday, February 13, 2009

Did you know?

FSBO homes sell for $36,000 less than agent assisted sales and FSBO market share has been tumbling. The desperate FSBO sales are now listed with deep discounts, which draw some bargain hunters. Because FSBOs often start out at a very low price, they do little to negotiate down from the already low "listed" price.

Saturday, February 7, 2009

Home Buyer Tax Credit

A $15,000 homebuyer tax credit (or 10 percent of a home's selling price, whichever is less) in a stimulus bill passed by the U.S. Senate would apply to all homebuyers of a principle residence. Better yet: The homebuyer would not have to pay it back. The tax credit and its rules could change, however, before final passage in the House.

Wednesday, February 4, 2009

Main Fire Station

The City of Palm Coast opened a brand new Main Fire Station to the public on Monday, February 2nd. Located at 1250 Belle Terre Parkway, the 15,000 square foot facility is now home to 24 firefighters, paramedics and administrators. Designed by Architect Design Group and constructed by Billco Construction, Inc., the station has bunk rooms, four double bays that house eight vehicles and a training room.
The new Main Station belongs to all residents of Palm Coast and citizens are invited to stop by to tour the facility, have their blood pressure checked and meet the fire department staff. The Station is located at the corner of Belle Terre and Royal Palms Parkways. A future community open house is planned. For more information, please contact Fire Chief Mike Beadle at 386-986-2302.