RENOVATED COCOA EXPO TOPS $40 MILLION MARK

                                                                   NEW COCOA STADIUM

When we began the $40 Million renovation and expansion of our complex back in the summer of 2011, we had one goal. We wanted to be the best place for competitive youth, high school and college sporting events.

Step foot in our sports complex and you’ll say mission accomplished. From the flexibility of our 100,000 foot gym with 11 NFHS regulation hardwood basketball courts and 14 hardwood volleyball courts to the magnitude of our 30,000 square foot training facility with state-of-the-art cardio and weight equipment, we’ve covered every base. Speaking of bases, our 13 baseball fields—7 of which are NCAA regulation, 16 bull pens, and 15 batting cages with video simulated pitching machines score big with baseball teams across the country. Throw in the professional baseball stadium that seats 5,000 and features a 40ft video scoreboard, and we’d say we’ve knocked it out of the park.

Of course the ideal sports complex would also give teams more time to play and train. That’s why we pushed the state-of-the-arts theme all the way to lodging, dining, and entertainment. Our private team dormitory style hotels give players the chance to unwind in style with a big screen TV in every room. They can also relax with teammates over ping pong, billiards, and arcade games in the All Star Players Lounge. If they’re feeling more adventurous, players can take advantage of their all-access pass to the Cocoa Expo Water Park where water slides and cooling stations are a short walk from their rooms. 

Rather than trekking out for a meal, teams can dine together at the All Star Buffet for breakfast, lunch, and dinner where all meals are hot and fresh. Players can also grab healthy snacks at the All Star Café in between meals.

While we've got plenty to keep athletes entertained with our Water Park and Players Lounge—we're also surrounded by attractions. Tour the Kennedy Space Center or visit the world-famous Cocoa Beach. Or take a short drive to Universal Studios, Disney World, and Sea World. (Learn more about our neighborhood in the Cocoa Beach Visitors Guide)

Our location also affords us gorgeous weather year-round with average temperatures at a comfortable 78 degrees—making playing indoors or out a year-round sport. Not to mention, the weather is always perfect for sun and surf in our Water Park or nearby beaches.

We dare you to find a better backdrop for competition.

PAUL KRUGMAN EXPLAINS THE HOUSING CRISIS

Krugman

From the March Issue of PLAYBOY

"If you're asking why people were buying those houses, it's because the money was being made available.  Why was the money being made available?  You had a whole machine making it seem as if dicey loans were actually safe, and a fair bit of predatory stuff was also going on.  People were being pushed into mortgages they were told they could afford  because they didn't understand the fine print.  Of course there was the slicing and dicing and tranching and making subprime toxic waste appear as triple-A bonds.

. . . Money was flowing easily.  Regulators were largely absent on both sides of the Atlantic.  In the United States it was more systematic deregulation and nobody willing to say 'Hey wait . . . this doesn't make sense.'  I doubt that many of them really understood just how bad it was really going to be.  But there were certainly people who understood they were cutting corners and taking risks that were much bigger than anyone was acknowledging.  We have a situation in which people in the financial industry are very much 'Heads I win, tails someone else loses.'  The whole way compensation works is that if you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk out of the wreckage a very rich man."

SUNDAY MORNING REAL ESTATE

Renting for the Rest of Their Lives

I’m witnessing a new renter mindset out there.  People who have had too many economic knocks to ever put their trust in mortgage lending, not that they would qualify for a mortgage, and people who gave up their credit card debt, some paying 24% which put such a small amount on the principle it wasn’t worth carrying the debt.  As one consumer said, “would take me 58 years to pay off if I lived that long”.  They stopped paying the cards and with no house, having gone through the foreclosure and short sale process, cleaned up what credit line they could and decided to be renters forever. 

They look for clean units where over the phone they sell the landlord on their strong income, no debts, and a history of paying their rent on time.  In some cases they will pay first and last months rent to get into a lease and by the end of one year usually can be renewed with normal terms.

The Housing Crash molded a new breed of consumers at risk, worse for the ages of 55 to 65 who have histories of buying up over time and increasing their equity targeted for a soft retirement.  With the equity sucked up the vacuum due to bank frauds of all kinds it left these middle class homeowners on the hook at a time when their health was at risk.   Priorities became a means to survival and even a second car had to go, be repossessed or auctioned off.

There will always be the question as to why the government allowed Banksters on Wall Street to manipulate bad paper in to triple AAA rated certificates, knowing full well these Trillion dollar assets were, in fact, worth crap.  No one has ever been prosecuted because under the old laws Banks were allowed to create a huge casino on Wall Street and when it went down, it took the middle class with it.  The 5% of the wealthy investors actually made money off the insurance claims and other instruments favoring them should the whole con game hit the wall.  It did.

But renters today, seasoned former homeowners, mostly older with health issues are a good risk to Landlords.  It doesn’t suggest that the landlord is going to be a millionaire over time because rental rates are adjusted based on demand and location and condition of the property.  But it means Landlords don’t have to carry the unit with no one living in it and paying the rents which pays the taxes and condo fees.  So it’s a nice match even though the real need is forcing a market value correction to get more people to buy.

Maybe we’ll see that downside with us another three years when a younger group gets employed and wants the American Dream.  Hopefully laws will be in place wherein the value is what it is and not some fantasy number from a Hedge Fund Manager on Wall Street.

If you are thinking of moving to Brevard County, Florida or know someone who is, give me a shout at victoradamus@gmail.com and I’ll be happy to send you by email a list of properties in your price range.

GORGEOUS OCEANFRONT PROPERTY $2,495,000

Aerial View

of exclusive property in

Melbourne Beach, Florida

Luxury Pool Screened

Formal Living Room

Be the first to see this treasure of a property.  Home's location is ocean to river.  Elegant structure with in law suite and enough garage space to park 10 cars.  R/V space too!  This is luxury living in Paradise.  The photos don't show the half of what's in this million dollar gem.  Pamper yourself!

See it with Me

321 639 8806

NEWS YOU CAN USE

Baby Bomers Geared up to Move

WASHINGTON, D.C. – Where will baby boomers go to retire? A new survey conducted by Mason-Dixon Polling & Research for the Consumer Federation of the Southeast finds one in three could move out of their home state in search of low taxes, low housing costs, pleasant climates and quality health care. They also want diverse recreational activities, supportive senior services, arts and cultural opportunities, nearby beaches and access to education.

The baby boom generation has 78 million members, and the first wave – those born in 1946 – reach the full age for Social Security retirement benefits this year.

According to the survey, a full third of baby boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population.

“According to this survey, substantial numbers (of baby boomers) are interested in relocating in retirement,” says Walter Dartland, president of the Consumer Federation of the Southeast. “The decisions they make about where they will retire will have a huge impact not only on their families’ finances but on the communities to which they move.”

Attracting even a small percentage of boomers can significantly impact a community. If just 0.3 percent move to a single area, it adds an estimated 1 billion per year in new economic income through jobs and new business.

“This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live,” says Jeff Johnson, AARP Florida’s interim state director. “AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population.”

Survey highlights

• More than half (58 percent) plan to buy a house in their retirement relocation destination.

• Some 96 percent of baby boomers surveyed say top-quality health care services are “very” or “somewhat” important to them in considering a relocation destination.

• Affordable housing ranks second, with nearly 92 percent ranking that as a “very” or “somewhat” important criterion.

• A warm, welcoming year-round climate is “very” or “somewhat” important to 85.5 percent – but a strong plurality of this group want their warm summers to be paired with a few cooler months.

• Low local taxes are “very” or “somewhat” important to 81.1 percent.

• Eight out of 10 relocating boomers want affordable recreational opportunities in a relocation destination, and about the same number seek strong local services for elder care.

• Seven in 10 prefer a mid-size city or small town.

• Arts and cultural opportunities are very or somewhat important to three in four.

• Beaches or ocean nearby is very or somewhat important to about six in 10.

• Educational opportunities are important to about half. A large university is a plus for four in 10 boomers willing to consider relocation.

• Diversity in a location is very or somewhat important.

Almost 54 percent of respondents indicated that the weak economy was not delaying their retirement plans, but about 36 percent said that the economy had delayed retirement.

Pollsters asked respondents to name – unprompted and with no suggested options – a state they might consider relocating to for retirement. About 18 percent mentioned Florida as a top relocation destination.

The survey, conducted by Mason-Dixon Polling & Research between Nov. 14 and 22, 2011, surveyed 1,100 Americans ages 47 to 65 who said they would relocate in retirement, were considering relocation or weren’t sure. All respondents surveyed lived in the eastern half of the U.S., outside of Florida. The survey carries a margin of error of plus or minus 3 percent.

To view the poll results visit: consumerfederationse.com

© 2012 Florida Realtors®

SUNDAY MORNING REAL ESTATE

Real Estate Nationwide is Reacting like the Stock Market

When I look at a U.S. map, I have to admit, the real estate markets nationwide are reacting like the stock market.  Some areas are selling for more than 10% compared to sales numbers in 2010 and others are slowly growing their equity by 4 to 5%.  Florida has, county by county, different numbers too.  Waterfront is coming back on the high side; newer pool homes are doing well; and short sales, where lenders take less than what is owed on the property, are getting multiple offers in some counties.  We see multiple offers here in Brevard County.

So if I look at the map, it does look like the stock market.  Some stocks do well and jump with no warning, others stay around a basic value and some stocks lose value.  In short, I see a correction in the real estate market this year which could be a basis for markets coming back.  I doubt they will all come back, location is still the driving force for home ownership, but if my focus is only in my backyard, I’m confident this market will do well.

I think it also has to do with politics, new consumer government programs, a push by the Fed to get banks to lend again and a combination of sellers helping starter buyers by paying some closing costs and some sellers taking back the first mortgages for income.

Even some banks are refinancing failed mortgages by reducing the rate to 2% and amortizing the loan value out 40 years.  That idea is good for keeping a homeowner in the home and it makes it easier on the bank’s foreclosure inventory.  The fact that the house is still intact will continue to enhance the neighborhood and benefit from an increase in value over time.

Cities are tearing down blocks of housing that have drawn fire from homeowners who live there complaining that the structures are being used by drug dealers and have become a blight on their community.  Through health services, the cities are taking the boom to those homes classified as un-inhabitable, clearing the area for new construction of homes in the future. 

All these county by county, city by city, solutions are impacting the next generation of sales and helping to correct the real estate market.  It’s no secret that more retirees coming to Florida mean a bump in our state economy.  They are retiring to a state that has grown in huge numbers. AARP reports them as a “block of voters” and more are on the way.  It’s the sunshine and cool winters that take them out of the cold north.  Florida is affordable, even for folks living on a fixed income.

If you are thinking of moving to Brevard County, Florida or know someone who is, give me a shout at victoradamus@gmail.com and I’ll be happy to send you by email a list of properties in your price range.

CHARTER A FISHING BOAT IN BREVARD COUNTY FLORIDA

Come join us for a true Florida Sport fishing charter of a lifetime. We welcome seasoned fishermen, as well as beginners – we love to share our knowledge! It will be smooth cruising out of Port Canaveral with our U.S. Coast Guard licensed Captains, Tim Altman and Charles Smith.

Our boat “The Fin freak”, is a custom built, 2007 27ft, Blackfin with twin Evinrude E-tecs 200HO. This vessel is designed for a fast, dry and comfortable ride to the deep blue. The Fin freak boasts Lowrance electronics, Taco Outriggers, Cannon Downrigger, Icom vhf, Kenwood and Alpine sound systems, a 7ft fish coffin{for the Big One}and much more. U.S.Coast Guard safety approved - safety is our #1 concern on the water, followed by filling the fish box.

WEBSITE HERE

FLORIDA RANKS 5 AS BEST FOR BUSINESS

WASHINGTON – Wyoming, Florida and Texas rank among the 10 best states for taxes on business, while companies in states like New York, New Jersey and California have a far less pleasant tax climate, according to the Tax Foundation’s State Business Tax Climate Index, now in its 8th edition.

The Tax Foundation says it looks at dozens of state tax provisions to create the ranking –a single easy-to-use score that measures each state’s tax climate against every other state. While some similar studies focus on residents’ tax burden they pay each year, the Index focuses on how a tax system enhances or harms a state’s businesses.

“Even in our global economy, a state’s stiffest and most direct competition often comes from other states,” says Tax Foundation economist Mark Robyn. “State lawmakers need to be aware of how their states’ business climates match up to their immediate neighbors and to other states in their region.”

The 10 best states in this year’s Index
1. Wyoming
2. South Dakota
3. Nevada
4. Alaska
5. Florida
6. New Hampshire
7. Washington
8. Montana
9. Texas
10. Utah

The 10 lowest ranked states in this year’s Index
41. Iowa
42. Maryland
43. Wisconsin
44. North Carolina
45. Minnesota
46. Rhode Island
47. Vermont
48. California
49. New York
50. New Jersey

The Tax Foundation has monitored fiscal policy at the federal, state and local levels since 1937. A copy of the latest report is available on the Tax Foundation’s website.

Is Now a Good Time to Buy Property?

You Bet IT IS!

"In five years people who could have bought a house at these low prices and didn't will be saying how much they'd wished they had," Jon Adamus, Broker, Adamus Realty Group

Jon has a good point!


It’s a good time to buy property in Brevard County and other areas of Florida because there is more inventory in the marketplace, the interest rates are low, less than 4% for buyers with good credit and many sellers are willing to deal or help with closing costs or defray a few months of monthly condo maintenance fees.


It’s a good time to buy because text book wisdom says “markets are cyclical” and they are. This means if you buy now, you will be buying close to the end of the down cycle before the market picks up again. That, in my opinion, is the best time to buy residential property. Sellers pricing of properties couldn’t be better. Some closing agents are reporting closing prices 10 to 25% less than appraised value. And buyers who zero in on the foreclosure markets are getting good deals too but the waiting time to close the transaction could go out beyond six months.  That's a long time to wait especially with Sellers who are out there competing with Short Sale prices.  They may even be a much better deal since they are caring for the property.


Having said that, why is the buyer pool always less than the amount of inventory offered in the marketplace when prices for properties are so good? Or when the market is near bottom? Well, that is what we call the psychology of market conditions. People, for some reason, have a fear of buying when the prices are falling and panic when interest rates rise. They can’t accept the opportunity at hand, and will wait in the hopes it even gets better, but unfortunately, many a buyer waits too long until the increase in interest rates force them out of the marketplace for what we call their house of choice.


This reluctance to buy, many experts agree, is impacted by “market shifts”. Changes in the real estate market that can throw buyers off balance. The perfect house is at the price they can afford but then they waited too long to buy it. Customers have told me “I could have bought that house a year ago when it was so much less” . . . or “I didn’t buy because nobody else was buying”.


I have also found that in a slow market buyers who read the market for what it is and are house hunting for a long term investment know instinctively when it’s the right time to buy because of the selection available “for sale”. People, who are ready to put their roots down, find a home priced below the market, one they can afford, jump on the opportunity to get the low price, even if they have to make a few trips to Home Depot.


Maybe they picked a house where they can make improvements to it over time and hopefully turn a profit when it’s their turn to sell three to five years down the road. These are “smart money” buyers. Buyers who buy in a down cycle always maximize their investment. They buy low so when it’s their turn to sell, they sell high.


But for the bubble burst nationwide, Brevard had one of the most stable real estate markets in the country. Homes doubled in value every 3 to 5 years!  And it brought tremendous expansion to Viera and the Suntree area of Melbourne. But the bubble burst isn't stopping builders here from expanding west of Melbourne.  We know the boomers are on the way.


I think we are fortunate to live here in Brevard County, Florida. We can thank a strong local economy for giving us a stable and balanced market. So YES! Now IS a good time to buy if you’re looking for a piece of paradise and planning on living here awhile.  We are closing 700 properties a month here in Brevard County according to the MLS.  So let's get going and find you a home in Paradise.


If you want to know more about Brevard or Brevard County real estate, give me a shout at victoradamus@gmail.com.

Or call 321 639 8806.

THIS BLOG SUPPORTS OPPOSITION TO SOPA