Hurricane Season – Hope this Promises to be Another Quiet One!

Hurricane Season is upon us. It officially runs from June 1 through November 30. I hope this season promises to be another quiet one, like the previous couple of years have been here in Brevard County Florida. Some say that the hurricanes of 2004 were just a fluke. I hope that’s true.

A couple of ways to protect your home from hurricanes are:

If you hear of any impending storm, cover your windows with hurricane shutters or plywood.

Go up on your roof, or have someone go up there for you, and check to be sure that you have no loose shingles. If you do, fasten them. You don’t want your roof compromised during a storm.

Check your sofits and fascia. If they have become loose, be sure to get them tightly fastened. This will keep horizontal rain from getting up under this area.

Seal any small openings, cracks or holes you may have on your home. Look for holes where cables, pipes and wires enter the home. Seal around dryer vents, bath and kitchen vents and lights. Seal around your electric box or circuit panel. You don’t want the pounding rain penetrating any of the weak areas of your home.

Check outside. Trim back trees and loose limbs from house. Pick up all yard debris and anything that can become a projectile should a storm come.

Mortgage Rescue Scams – Homeowners and Investors Beware!

Recently there have been companies posing as Mortgage Rescue Centers. They claim to be able to assist distressed homeowners, going into foreclosure, by bailing them out.

To the investor that is interested in getting “in” on a piece of the action, one group promised a 50% return on your initial investment within 6 weeks. The woman running the scams in California, Nevada and Georgia collected over $18 million from unknowing people, thinking they were helping others.

Funds were provided to the first investors in, from money collected from the next group of investors. There was actually no help provided to distressed homeowners behind on mortgage payments or going into foreclosure, at all.

The woman behind this extravagant operation used $1.9 million of the money collected for her own wedding, honeymoon and expensive cars.

For additional information you can go to Clark Howard.com

Has anyone else heard of any of these kinds of scams, that we should alert people to?

Visit my website at www.SandyShoresMelbourne.com

Four Brevard County Florida Schools are Top Rated in the US

According to a Newsweek Magazine poll, 4 of Brevard County Florida schools are in the top 1300 of the country’s public high school rankings.

Cocoa Beach Junior/Senior High School ranked at 101. Last year they ranked 68.

West Shore Junior/Senior High School in Melbourne ranked at 200. Last year they ranked 320.

Satellite Beach High School ranked 812, up from last year at 842.

Merritt Island High School ranked at 929. Last year they ranked at 908.

The rankings are determined by the ratio of Advanced Placement, International Baccalaureate and Cambridge tests taken divided by the number of graduating seniors. They do not use the test scores in figuring rankings. They concentrate on AP and IB course taken, which give students a chance to do college level work in high school.

Visit the school page of my website at www.SandyShoresMelbourne.com for additional school rankings

Brevard County Home Sales Increased

by Sandy Shores Melbourne FL Realtor

According to the Florida Association of REALTORS, April 2008 is the third consecutive month in which Brevard County home sales increased from previous months, in single family and condo units. We are seeing the market pick up a bit, relative to the past several months sales. This holds true statewide, also.

However, figures are down compared to sales in April 2007. The median price of a single family home sold today is $160,000 compared to $195,500 a year ago. Condo prices dropped from $180,000 a year ago to $161,700 today. Median price means that half of homes sold for more and half of the homes sold for less money.

In some areas, across the nation, there is a 10 to 12 month supply of single family homes available for sale.

Is the market still declining? Have we hit rock bottom?

The big question may be, what happens when the oil bubble bursts? Or is it a bubble?

We have heard it said that if you cannot invest in the stock market for more than 10 years, stay away from it, otherwise you’ll lose money. Is this true? So, where will people put their money?

Will they go back into real estate sooner than we anticipate?

Will we hit rock bottom, and no one really recognize it, before the prices head back up?

We have seen buyers getting into the market today, negotiating good deals on homes for sale, purchased prior to the 2005 boom. And, many of the sellers negotiating with those buyers have seen their homes appreciate by 20% – 50% and sometimes even more.

Conditions for buying are favorable. Interest rates are still historically low. Remember when rates were 12% – 13% ? I remember when rates were even higher than that.

So, have we lost our perspective in this market? Or are high taxes and insurance costs stifling our growth?

If buyers do their homework and shop around there are low prices to be found. We’re seeing deals being scooped up everyday.

Check my website and read the Florida Association Realtors article, 20 Market Positives for Florida Real Market.

Foreclosure Forum Held – Tips on Avoiding Foreclosure

A foreclosure forum was held at the Melbourne Rialto Place Hotel on Tuesday. The event was to help those caught in the market slowdown and provided tips to help homeowners avoid foreclosure. The forum pointed out that banks are not in the business of owning real estate. They want to work with homeowners and help them through their financial problems.

Foreclosure proceedings typically begin when a mortgage holder is three months behind on their mortgage payment. Not every filing leads to an actual foreclosure.

According to HUD, US Department of Housing and Urban Development tips for avoiding foreclosure are as follows:

1. Don’t pretend the problem doesn’t exist.
The further you get behind, the worse your situation will get.

2. Contact your bank or mortgage company right away.
Today, lenders have programs and options to help you work through your financial troubles.

3. Open all the mail your bank or mortgage company sends.
Failure to read bank correspondence will not excuse you in foreclosure court.

4. Know your rights as a mortgage holder.
Read and be sure you understand all of the loan documents you signed. Often times, this is what got borrowers in trouble in the first place. Contact the Florida Housing Coalition at 850-878-4219 to understand Florida foreclosure laws and your rights.

5. Research your options.
Check on the FHA website for foreclosure prevention options.

6. Contact a HUD approved housing counselor.
Free or low cost housing counseling is available nationwide or call 1-800-569-4287.

7. Prioritize your spending.
Your house should be your first priority, after paying for your health care. Cut spending and see what can be cut out of your budget. Pay your mortgage first.

8. Use your assets.
Can you sell anything to pay your mortgage payment? Can someone in the family get an extra job? Show your lender that you are making the effort to stay abreast of your payments.

9. Avoid foreclosure prevention companies.
Do not pay a company to help get you from going into foreclosure, the money would be better spent paying your mortgage payment.

10. Don’t lost your house to a scam.
Do not sign over your home to company claiming to help stop the foreclosure proceedings on the home. Never sign a legal document without first consulting with an attorney, a HUD approved counselor or a trusted Real Estate professional.

Save on Electricity Costs

Well, we feel it when we walk outside…that warm, balmy, soon to be summer weather, creeping upon us. It’s time to close the windows and turn the air conditioning on. We are hearing that electricity costs are due to rise over the summer because of the price of natural gas and coal.

Here’s a couple of tips to help prepare your home and help keep your electric bill down:

Check your thermostat. Do you have a programmable one, that can be adjusted to set different temperatures at different times of the day and night? If you don’t have one, consider having one installed at a small cost. What is your thermostat set on? Set it for a couple degrees warmer in the house while you are away at work. And then when you’re home, have it drop back down. (Don’t forget about your pets during the day. Be sure it remains comfortable for them).

Clean or replace your A/C filter every month.

How much insulation do you have in your attic? Take a peek and look. A lot of hot air escapes from the attic. A well insulated attic can help save hundreds on your electric bill.

Check your windows and doors. Are they properly sealed? If not, add weather stripping where necessary and apply silicone or caulk around the windows.

Avoid pre rinsing dishes when putting them in the dishwasher.

Reset the temperature on your hot water heater, now that warm weather is here.

Reset the water level on your washing machine for each new load.

Clean your dryer lint trap before each new load.

Run your pool pump 6 hours a day, at the most, in the summer.

Turn off lights as you leave a room.

Turn off all ceiling fans when you leave the house for the day.

Turn off your computers. A computer that remains on for 24 hours a day can use up to $7 a month in electricity.

Keep your shades drawn on your windows during the day, while you are gone. It keeps the house a bit cooler.

Install the new CFL light bulbs. Each bulb can save as much as $30 to $50 a bulb, over the lifetime of the bulb.

Contact FPL and have them install an On-call box on your home. It can save you up to $100 a year.

Did you know that you can go online to FPL and take an energy survey. It tells you how much energy you are using and where you can reduce costs.

Florida Lead the Nation in Foreign Purchases

Florida is a great place for foreigners to invest their money, due to the favorable exchange rate between the pound and the dollar. We are seeing many international buyers purchasing here in the Sunshine State. In 2007, Florida lead the nation in foreign purchases at 26%.

Florida is easily accessible by air and by sea. There are 31 major airports and 14 deep water seaports here. So, it makes traveling internationally quite convenient.

Visit my website at www.SandyShoresMelbourne.com

Save thousands and Cut Years off Your Mortgage

Did you know that you can cut years off of your mortgage and save thousands in interest? By making one additional principal payment each year on your 30 year fixed rate mortgage, you can cut approximately 8 years* off of the length of your loan and save tens of thousands of dollars.

Have you heard about bi weekly mortgage payments?

These are when your mortgage payment amount is divided in half and you make the payment every 2 weeks, in effect adding one additional payment to your loan by the end of the year. Often times they cost a hefty fee to set up and the lending institution charges a monthly fee to process the payment. You can create the same effect by making an additional mortgage payment each year.**

Are you thinking that you just don’t have the extra money each year to mail in an additional payment?

Well, try this… divide your monthly mortgage payment by 12. Every month mail the additional 1/12 payment amount in with your monthly payment. So, if your monthly mortgage payment is $1200, $1200 divided by 12 =$100. Every month mail in $1300. At the end of the year, you will have made an additional principal payment.

It is advisable to send the extra principal payment to your lender in a separate check. It is important that you specify that the extra funds are to be used as a principal reduction. Check your online statement regulary to be sure this is being done.

Before starting a plan like this, be certain that your loan has no prepayment penalties. If you aren’t sure, check with your lender first.

*This figure may vary depending on the type of your loan.

**A true analysis can be done by using a mortgage calculator and running an amortization schedule to determine which program will provide the greatest benefit to you.

Bank Owned Homes in Brevard County Florida

In Brevard County Florida Real Estate there are currently 359 bank owned homes for sale through the Multiple Listing Service. The good news is that 148 foreclosed homes have contracts to purchase on them and 240 bank owned properties have sold since the beginning of 2008. These homes appear to be selling fairly quickly. Does this mean that the banks are becoming more realistic in their pricing to get these properties off of their books? And are buyers getting a good deal on these properties?

At this same time last year there were less than 80 bank owned homes for sale through the MLS in Brevard.

Free Experian Credit Score from Quizzle

Did you know that you can get your free Experian credit score and report online?*

This fun and easy to use website will also provide you with a free report that estimates the current value of your home, including the average amount of appreciation. It can also provide you with a budget report of your monthly finances. And you can get a rainy day fund report that indicates how much money you will need in reserve in case of emergency.

*Please be aware that this score may be different than your FICO score.