$299,900.00 5495 SE 44th Circle Ocala, FL 34480 Beds: 3 Rooms: 0 Full Baths: 2 Sq. Ft.: 2039 Garage: 2 Built: 2002   If you are looking for the best priced custom built pool home in prestigious Dalton Woods, then you have found it, look no further. This beautiful Marco Polo built home was built in 2002 and has a very nice open layout with formal living & dining rooms boasting soaring ceilings, catwalks and beautiful views of the huge pool area. The master has tray ceilings, plant shelves, glass enclosed shower, marble vanities,garden tub, his & hers walk in closets, private pool entrance. The kitchen has double ovens, dishwasher, side by side, glass top range, built in microwave and a garbage disposal.The custom built pool is brand new, heated, with a jacuzzi and waterfall.The huge deck is great for all your entertaining and the cooking facility is ready for your outdoor kitchen. There is plenty of RV/ Boat parking for all the toys inside the privacy fenced back yard. The list goes on!! Please call Jeff for your private showing today. 352-572-4051 SHOWN BY APPOINTMENT ONLY. BROKER OWNER GP TO WWW.JEFFMINTON.NET for more pics & info. This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Jeff Minton Tri County Realty Group Inc. 3525724051 www.JEFFMINTON.net     Visit this listing here

$199,900.00 41141 Balsam St Eustis, FL 32726 Beds: 4.0 Rooms: 7 Baths: 2.00 Sq. Ft.: 1878.00 Garage: 0 Built: 2009   This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Jeff Minton Tri County Realty Group Inc. 352-572-4051 www.JEFFMINTON.net     Visit this listing at Here

$159,000.00 13350 SW 61 Pl Rd Ocala, FL 34481 Beds: 3.0 Rooms: 10 Baths: 2.00 Sq. Ft.: 1569.00 Garage: 0 Built: 2009   This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Jeff Minton Tri County Realty Group Inc. 352-572-4051 www.JEFFMINTON.net     Visit this listing at Here

Government blocks Fannie, Freddie CEOs’ exit packages

WASHINGTON – Sept. 16, 2008 – The federal government will not pay the ousted chief executives of mortgage finance companies Fannie Mae and Freddie Mac up to $24 million in exit packages.

The Federal Housing Finance Agency notified former Fannie Mae CEO Daniel Mudd and former Freddie Mac CEO Richard Syron that such “golden parachute” payments will not be paid. The housing agency, which took control over the companies earlier this month, made the announcement on Sunday.

“It would have been unconscionable to award these inflated salaries, particularly when the leadership of Fannie and Freddie can hardly be given good grades,” Sen. Charles Schumer, D-N.Y., said in a statement.

Mudd had been due to receive up to $8.4 million in compensation, while Syron was due to receive up to $15.5 million, according to calculations by David Schmidt, a senior consultant at executive compensation consulting firm James F. Reda & Associates.

Representatives of both Syron and Mudd declined to comment Monday morning. Mudd received $12.2 million in compensation in 2007, and Syron was paid $19.8 million.

Herbert Allison was named the new chief executive of Fannie, and David Moffett the new CEO of Freddie as part of the government’s bailout of the two huge mortgage financing agencies. Fannie and Freddie own or guarantee about $5 trillion of the nation’s outstanding mortgages, roughly half the nation’s total.

James Lockhart, the housing agency’s director has said that compensation for the new executives will be “significantly lower than the outgoing CEOs.”

Fannie, Freddie deal helps some borrowers, not all

NEW YORK – Sept. 8, 2008 – Few outside Washington and Wall Street may understand what Fannie Mae and Freddie Mac do, but the government’s bailout of the two will likely be felt in cities and suburbs across the country.

The takeover will be good news for those looking to buy a home or hoping to refinance their mortgages if it leads to lower interest rates, as experts expect.

But for homeowners already behind on their mortgage payments, or who owe more than their homes are now worth, the plan unveiled Sunday by Treasury Secretary Henry Paulson offers little in the way of extra relief.

“The bailout will give the mortgage industry a stability that we haven’t had in a couple of years,” said Rich Cosner, president of Prudential California Realty. “But frankly no, it won’t help (struggling borrowers) to refinance.”

Fannie Mae and Freddie Mac play a critical and increasingly dominant role in the mortgage market. The companies buy mortgage loans from banks and package those loans into securities that they either hold or sell to U.S. and foreign investors. That allows traditional lenders like Bank of America, Wells Fargo and Washington Mutual to make more loans.

Together, Fannie and Freddie own or guarantee about $5 trillion in home loans, about half the nation’s total. But an alarming number of those loans started going into default, draining the companies’ financial reserves and sending a chill through credit markets worldwide. As investors grew more skittish, borrowing costs started rising.

By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.

While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly

ORLANDO, Fla. – Aug. 25, 2008 – Single-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida’s housing sector, according to the latest housing statistics released by the Florida Association of Realtors® (FAR).

A total of 11,498 existing homes sold statewide last month while 11,492 homes sold in July 2007, maintaining the same level of sales activity in the year-to-year comparison, according to FAR. The last time statewide sales of existing homes outpaced the previous year’s sales figure was in the year-end 2005 report, according to FAR records, when sales were up 2 percent over year-end 2004.

Florida’s median sales price for existing homes last month was $193,600; a year ago, it was $238,900 for a 19 percent decrease. But, looking back to July 2003, the statewide median sales price for single-family homes has increased 18 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $164,000. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in June 2008 was $213,800, down 6.7 percent from a year earlier, according to NAR. In California, the statewide median resales price was $368,250 in June; in Massachusetts, it was $334,900; in Maryland, it was $306,083; and in New York, it was $219,000.

Industry analysts predict that the housing stimulus bill recently passed by Congress should help boost the housing sector’s recovery. Existing home sales nationwide are expected to show some modest improvement in the coming months, according to the latest housing outlook from the National Association of Realtors® (NAR). “With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009,” says NAR Chief Economist Lawrence Yun.

In a year-to-year comparison for condos, 3,375 units sold statewide compared to 3,641 in July 2007 for a 7 percent decline. The statewide existing-condo median sales price last month was $168,500; in July 2007 it was $194,100 for a 13 percent decrease. NAR reported the national median existing condo price was $224,200 in June 2008.

Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.43 percent, down from the average rate of 6.70 percent in July 2007, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

More than half of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in July; seven MSAs also showed gains in condo sales. Realtors around the state reported increased business activity, including more telephone calls, more home showings and a rise in pending sales.

Among the state’s large to medium-size markets, the West Palm-Boca Raton MSA reported a total of 652 homes sold in July compared to 605 homes a year ago for an 8 percent increase. The existing home median sales price was $291,300; a year ago, it was $372,200 for a 22 percent decrease. A total of 510 existing condos sold in the MSA last month compared to 440 condos the previous July for a 16 percent increase. The market’s existing condo median price was $152,300; a year ago, it was $178,200 for a 15 percent decrease.

© 2008 FLORIDA ASSOCIATION OF REALTORS

ORLANDO, Fla. – Aug. 14, 2008 – During the second quarter of 2008, Florida Realtors continued to report positive signs for the state’s housing sector, such as an increase in pending home sales (based on contracts signed but not closed) and a slower rate of expansion of inventory levels in some areas.

Sales of both existing single-family homes and existing condominiums improved in second quarter 2008 from the first quarter of the year, according to the latest housing statistics from the Florida Association of Realtors (FAR). A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008 when 25,443 homes sold. The statewide existing home median price in 2Q 2008 was $203,000, slightly higher than the $202,300 median price reported in 1Q 2008.

In the state’s existing condo market, a total of 11,343 units sold in 2Q 2008, a 32.2 percent increase over 1Q 2008 when 8,581 units changed hands. The statewide existing condo median price in 2Q 2008 was $181,100, an increase of 1.5 percent from 1Q 2008.

“Across the state, we’re seeing positive signs for Florida’s housing market,” says 2008 FAR President Chuck Bonfiglio. “Realtors are reporting heightened interest from buyers, more business activity and an increase in pending sales. Prices also appear to be reaching equilibrium in many areas, another encouraging sign that could boost the market’s momentum.”

Looking at the year-to-year quarterly comparison, a total of 35,178 single-family existing homes changed hands during the three-month period, a decrease of 6 percent compared to 37,407 homes sold during the same time a year earlier, according to FAR records. The statewide existing-home median sales price was $203,000 in the second quarter; a year ago, it was $241,200 for a decrease of 16 percent. In 2003, the second-quarter statewide median sales price was $154,700, which reflects an increase of 31.2 percent over the five-year period. The median is a typical market price where half the homes sold for more, half for less.

To gain insight into current trends in Florida’s real estate industry, the University of Florida’s Bergstrom Center for Real Estate Studies conducts a quarterly survey of industry executives, market research economists, real estate scholars and other experts. The second quarter 2008 survey found the long-term outlook for Florida remains positive. “As long as the United States economy has bright prospects and particularly as long as Florida has good prospects, it’s very hard I think to make a case for a long-term picture that’s negative,” says Wayne Archer, director of UF’s Bergstrom Center for Real Estate Studies. He added that the logical time for market cycles to change is likely the spring of 2009.

In a year-to-year quarterly comparison of condo sales, 11,343 units sold statewide for the quarter compared to 12,585 in 2Q 2007 for a 10 percent decrease. The statewide existing-condo median sales price was $181,100 for the three-month period; in 2Q 2007, it was $215,300 for a 16 percent decrease.

Continuing low mortgage rates remain another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 6.09 percent in second quarter 2008; one year earlier, it averaged 6.37 percent.

The latest industry outlook from the National Association of Realtors (NAR) predicts improvements in existing home sales in the coming months, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently approved housing stimulus legislation. “With a tax credit now available to first-time homebuyers, increases in home sales could be sustained with the momentum carrying into 2009,” says NAR Chief Economist Lawrence Yun.

© 2008 FLORIDA ASSOCIATION OF REALTORS

Signs of recovery in housing market?

JACKSONVILLE, Fla. – Aug. 6, 2008 – The last two years of declining home sales and prices have been a strain on anyone connected to real estate.

Discouraging monthly and quarterly statistics compared with previous years have found industry professionals, buyers, sellers and homeowners all searching for signs that a recovery is on the way.

And then something happened: The first half of the year finished with monthly upticks in the number of new and existing homes sold and median prices.

Is it a sign the market is on the mend or could the second half of the year see a return to falling sales and prices?

“It’s a powerful indicator of market momentum that we’re starting to move in a direction,” said Ray Rodriguez, owner of the Real Estate Strategy Center of North Florida Inc.

“Time will tell if it’s a trend, but it’s something good to value for the time being.”

A flood of factors

Northeast Florida got to the point of upward monthly indicators largely through local influences on the housing market. One was a continuation in the decline of new home permits that began in 2007, which the Northeast Florida Builders Association has said is a sign that excess new home inventory is being used. Data from Metrostudy, a national company that tracks housing data, illustrates that point.

Single-family inventory, which Metrostudy defines as units under construction, finished vacant units and models, declined by 33.9 percent to 3,596 units at the end of the second quarter.

“Rather than add more houses, builders made a concerted effort to steer buyers into purchasing a home already built,” said Joe Farinacci, Metrostudy manager for the North Florida market.

Part of the reason that helped spur month-to-month sales this year is owners of existing homes have to wait longer to sell, fueling the demand for a new home ready for move-in, Farinacci said.

The number of new homes started this year also helped the market uptick. Metrostudy data shows a decline compared with last year, with 1,288 new single-family and townhomes (not condominiums) started in Clay, Duval, Nassau and St. Johns counties between April and June, a decrease of 36.6 percent from the same time last year.

Fewer housing starts indicate homes are being sold since most builders aren’t constructing without a contract, Farinacci said.

While new home supply and demand has moved closer to a balance, an increase in foreclosures has continued to boost sales of existing homes.

In the first half of the year, filings for various stages of foreclosure from beginning notices to banks taking ownership of a property were up 69 percent to 9,062 from 5,371 the previous year, according to RealtyTrac.

“Consumers are seeing value in buying depressed property,” Rodriguez said. “It could be a good deal in a neighborhood maybe they couldn’t move into before. And one they don’t see themselves moving out of in a year.”

A long recovery

From an analytical standpoint, foreclosures represent a sale that gives the buyer value and the individual owner or bank a way out of a property.

But the gains in monthly sales numbers do bring lower median home prices, which in turn can bring lower overall property values.

Foreclosures will continue impacting the Northeast Florida market this year, though Wachovia senior economist Mark Vitner is more concerned about the rise in interest rates and tightening underwriting standards.

“That’s likely to keep home sales to the lows we’re seeing now,” Vitner said.

But it’s possible those lows could be improved by reports such as Forbes’ recent “Best Cities to Buy a Home.” Jacksonville came in ninth in the country’s 40 largest metropolitan cities for appreciating home prices and tightening vacancy rates based on information from the U.S. Census Bureau and the National Association of Realtors.

With the number and variety of factors as numerous as their outcomes, it’s difficult even for analysts to predict what will happen in the latter half of the year.

“It’s going to be a slow recovery,” said Rodriguez, who reviews housing data by hand, deed by deed.

“The market is going to come back in pieces.”

Florida’s existing housing market shows improving conditions in June 2008

ORLANDO, Fla. — July 24, 2008 – Many Florida Realtors® statewide noted positive movement in their local housing markets in June, with an upswing in the statewide median price reported for both existing home sales and condominium sales over May 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR).

The statewide existing-home median price in June was $205,500, up 1 percent from May’s median price of $203,300. The median price of an existing condo last month was $183,700, also up 1 percent from May’s figure of $181,800.

Nationally, existing home sales are expected to show some modest gains in the coming months, with a recovery predicted during the latter part of the year, according to the latest housing outlook from the National Association of Realtors® (NAR). “Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half,” said NAR Chief Economist Lawrence Yun. “Price conditions vary tremendously, even within a locality.”

In the year-to-year comparison, a total of 11,700 existing homes sold statewide last month while 12,276 homes sold in June 2007 for a decrease of 5 percent, according to FAR. Florida’s median sales price for existing homes last month was $205,500; a year ago, it was $244,400 for a 16 percent decrease. But, looking back to June 2003, the statewide median sales price for single-family homes has increased 26.9 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $161,900. The median is the midpoint; half the homes sold for more, half for less.

In a year-to-year comparison for condos, 3,628 units sold statewide compared to 3,851 in June 2007 for a 6 percent decline. The statewide existing-condo median sales price last month was $183,700; in June 2007 it was $212,400 for a 14 percent decrease. NAR reported the national median existing condo price was $223,400 in May 2008.

The national median sales price for existing single-family homes in May 2008 was $206,700, down 6.8 percent