Point Of View

GORGEOUS OCEANFRONT PROPERTY $2,495,000

2012-02-05T17:01:00.000-05:00

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

2012-02-03T09:07:00.001-05:00

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

2012-01-29T05:33:00.001-05:00

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

2012-01-28T07:09:00.000-05:00

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

2012-01-27T10:14:00.000-05:00

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

Is Now a Good Time to Buy Property?

2012-01-25T09:00:00.000-05:00

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

2012-01-18T11:09:00.002-05:00

SUNDAY MORNING REAL ESTATE

2012-01-15T08:41:00.000-05:00

Usually in a general election year history shows it becomes a bumper year for sales in real estate. I have my doubts about this year being that kind of year where people looking to buy property across the U.S. actually doubles or triples the sales volume sold in 2011. It could happen. I’m just looking at statistics and we are fortunate to have traveled this far in five years from the balloon days, to have one year, last year, that got Florida out of negative appreciation. Home values actually gained one or two percent here.

The election year phobia started way back in the 1970’s when an accountant in Chicago bet that whoever was president would keep interest rates low during the peak campaign season and they did. In the years that followed, rates dropped again, regardless of what party won the Oval Office, and since then Realtors count on “tis the season” to rake in more dollars from more sales.

This year may be an exception because rates are steady at under 4% so the question is “how low can you go”? Maybe the Freddie will loosen up the criteria for new home buyers and that will stimulate a summer season of sales across the U.S. But that is pure guess work. The stock market could crash again due to European countries needing another bailout. So I am more inclined to think this is a trick year, driven by economic forces beyond the world of real estate. And I write this knowing the census report shows an estimated 1.4 million people are eligible for Social Security in 2012. Is retirement for that group a possibility? Surely for some it is and a percentage will flood through Florida looking for the best properties to retire to.

More than likely we will see more second home purchases. People planning to retire and wanting to buy their retirement home early at today’s prices while they continue to work up north or wherever their home base is today are considered top candidates, according to some analysts. Since they will be buying down, they can also afford for the market to improve where they are and hopefully sell for more down the road to wash the debt down here once they retire.

It’s a good idea but only if they qualify for a mortgage under the new government guidelines. Personally, I think returning veterans have a better chance of securing homes in the starter home price range. Disabled vets don’t pay homestead taxes so that is a big draw for them and we throw the sunshine in for free.

If you are looking in Brevard County, Florida for property, give me a shout at victoradamus@gmail.com and we’ll work together to find you a dream home you can afford.

WHAT A PROMOTION

2012-01-14T10:25:00.000-05:00

SUNDAY MORNING REAL ESTATE

2012-01-08T08:51:00.001-05:00

Brevard County Inches Up in 2011

The good news is, our Brevard County, Florida market inched up in 2011, lowering the negative appreciation of the housing market with sales recorded in the high end properties and short sales in the under $150,000 market. The bad news is that the middle income properties are not moving as fast and are putting a burden on new construction and re-sale properties trying to compete for those few buyers.

Bank problems aside, today a person up north can sell their house for less because they can buy the same size house here for the same price or even for the equity they receive from the house sale up north. It’s not a mixed bag. People with wealth can still find deals on condos facing the Atlantic Ocean. People just starting out can find short sales priced so low, they can buy more house for the money.

So what do the homeowners in the middle do? The homeowners with traditional three bedroom homes with two baths and two car garages living in neighborhoods that show a history of home values in the $250,000 to $400,000 range. That is the question for 2012.

The middle income homes are getting squeezed out of the market. As nice as they are, most of them, the owners have kept them up and show they are well cared for, are in a great location, access to A+ school systems, and usually have pools or sit on one acre lots, larger lots, with plenty of room to roam. Foreclosures in many of those neighborhoods have forced prices down by 57% since the boom days, making it impossible for the owners to sell at a profit. The owners that don’t have a mortgage are waiting for the market to rebound; the ones with mortgages are either living there and paying for a house that has a value less than what’s owed; or they give up and hand it back to the bank.

It’s going to be an interesting year here in Real Estate. It may be that the smart money people wait in line since most properties are based on values we saw in 2001. Approximately ten years of equity or minimum 20% earned in appreciation has been lost to the housing crash and waiting to make that back could take five years or an influx of boomers ready to push prices up to where they were in 2004, just before inflated prices dominated the marketplace.

If you are a young homeowner it may be worth the wait. Our retired population which usually face health issues may have to take the losses to get to safe harbor for health care. This would also lower the values in the middle income market.

All these factors tell me 2012 is a good time to buy here in Brevard County. If the banks loosen their lending criteria, or interest rates climb, then the market may move Buyers to buy because home values are escalating. It will be a situation where if you don’t buy this year, you may become a life-long renter. That’s how fast the market here can be stimulated.

My recommendation is “Don’t Wait”.

If you are looking in Brevard County, Florida for property, give me a shout at victoradamus@gmail.com and we’ll work together to find you a dream home you can afford.

SHORT SALES STILL THREATENED THE HIGH END MARKET

2012-01-06T08:03:00.000-05:00

The grand entrance to this five bedroom, five and a half bath pool home reflects the quality construction of the mid 2000's in Viera West, Florida

Gourmet Kitchen!

Luxury Pool and Spa

Built by Arthur Ruttenberg in 2007, this million dollar mini mansion is offered at a discount off market value for a mere $1,050,000. The outdoor pool and spa with fireplace make this a fine place for entertaining year 'round. There is also access to the Duran Golf Course. If affordable luxury is what you want. . . THIS IS IT.

See it With Me!

321 639-8806

Sellers Holding Out on Price Might Be a Good Thing

2012-01-03T16:39:00.000-05:00

Buyers vs. sellers on home prices

WASHINGTON – Housing analysts expect home prices to stabilize in 2012, but that doesn’t mean buyers and sellers won’t continue to be at odds over home prices.

While buyers are feeling good about the housing market and saying it’s a great time to buy, seller sentiment is falling to a record low, a new report by the Mortgage Bankers Association shows. Sellers say they’re unhappy because they can’t snag the prices for the home that they want.

The MBA report finds a large sentiment gap between homebuying and home selling that isn’t expected to narrow for at least five quarters.

From 1992 to 2005, seller sentiment remained high – between 40 percent and 60 percent, according to the report. However, since 2005, seller sentiment decreased to 7.6 percent. Meanwhile, homebuyer sentiment has remained high despite unemployment and economic conditions. Nearly 80 percent of American households say now is a good time to purchase a home.

As home values dropped over the last few years, many sellers refused to budge on their prices to reflect current market traditions. One reason why: About 20 percent of homeowners nationwide are considered “underwater,” owing more on their mortgage than their home is currently worth.

Also, some sellers realize there may be a benefit in waiting to sell or keeping the home on the market to hold out for a higher price, says the author of the report, Gary Engelhardt, a Syracuse economics professor.

“This (trend) could hold prices high enough to drive a substantial wedge between the existing buyer and seller,” Engelhardt says. “And a poor jobs market with limited mobility, a key driver of housing-market transactions, may exacerbate this.”

TRULY A HOME TO COME HOME TO

2011-12-17T03:14:00.000-05:00

Price Reduced $255,000

Over 3000 square feet on one acre

3 car storage

Double Shower in Master

All Brick on Concrete Block

All Season Room has Skylights

See it with Me!

321 639 8806

This is a special home to come home to. The owners are looking to retire. The prices here on the beach for a condo with an ocean view are so good that they need to sell low and buy low. This property, on one acre, was appraised in 2008 for $415,000. It's a gorgeous home to come home to. The three car garage will spoil the hobbyist in the family. And even in the heat of our Florida summers, just turn on the attic fan and it's a refreshing 80 degrees in there, suitable to work on gadgets and clean up antiques. If you are looking for privacy and some luxury plus a well built brick on concrete block structure, this is it.

THIS EXPLAINS A LOT

2011-12-13T14:33:00.000-05:00

Investors blamed for bubble in housing

LAS VEGAS – A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states.

Researchers with the Federal Reserve Bank of New York found that investors who used low-downpayment, subprime credit to purchase multiple residential properties helped inflate home prices and are largely to blame for the recession. The researchers said their findings focused on an “undocumented” dimension of the housing market crisis that had been previously overlooked as officials focused on how to contain the financial crisis, not what caused it.

More than a third of all U.S. home mortgages granted in 2006 went to people who already owned at least one house, according to the report. In Arizona, California, Florida and Nevada, where average home prices more than doubled from 2000 to 2006, investors made up nearly half of all mortgage-backed purchases during the housing bubble. Buyers owning three or more properties represented the fastest-growing segment of homeowners during that time.

“This may have allowed the bubble to inflate further, which caused millions of owner-occupants to pay more if they wanted to buy a home for their family,” the researchers noted.

Investors defaulted in large numbers after home values began to drop in 2006. They accounted for more than 25 percent of seriously delinquent mortgage balances nationwide, and more than a third in Arizona, California, Florida and Nevada from 2007 to 2009.

As a result, millions of homeowners saw their home values decline so that they were worth less than the original purchase price. Foreclosures skyrocketed. Residential construction also languished, putting hundreds of construction workers in the hardest-hit states out of work.

In Nevada, which has the highest foreclosure rate in the United States, the housing market remains weak. Paul Bell of the Greater Las Vegas Association of Realtors said the market has shifted so that cash investors are helping Las Vegas recover by buying multiple vacant homes, fixing them up and selling them. “If we did not have the serious investors in the market . . . we would have many neighborhoods in a very run-down condition,” he said.
Copyright © 2011 The Associated Press, Cristina Silva.

NEW VIERA HOSPITAL OPENS IN BREVARD COUNTY FLORIDA

2011-12-10T10:44:00.002-05:00

Health First thanks the thousands of residents, physicians, and community leaders as well as our own associates who have supported a new hospital for Viera.

I got the grand tour last week and it's a wonderful addition to the hospital care for our areas of Rockledge, Viera, Suntree and even Melbourne. Next door to this facility is a cancer clinic, one of the largest in Florida, called the Space Coast Cancer Clinic and it is huge.

The new 250,000-square-foot full-service hospital features 84 all private, inpatient rooms, 16 observation beds, full medical and surgical capabilities, a 24-hour Emergency Department, and outpatient diagnostic and treatment services such as a state-of-the-art Cardiac Catheterization Lab.

The Viera Health Park is for the new Pro-Health; Fitness Center and outpatient physical rehabilitation services opened as well as a medical office building.

We're pleased to bring these new services to the Viera area as we fulfill our Health First Mission of "positively changing the health and well-being of you and your family through excellent and compassionate health care."

Census Shows Older Population

2011-12-06T16:15:00.000-05:00

But Maybe Not as Talented as the Guy in the Photo!

WASHINGTON – The population is getting older, and adults 65 and older now make up the biggest part of the nation’s population in size and percentage, according to newly released data from the U.S. Census Bureau. Older residents now comprise 13 percent of the population, or 40.3 million people.

The older adult population increased by 15.1 percent from 2000 to 2010, while the combined remaining age groups saw 9.7 percent growth.

The states with the highest number of senior residents include Florida, West Virginia, Maine, Pennsylvania and Iowa. The state with the lowest number of seniors is Alaska – 7.7 percent compared to Florida’s 17.6 percent. However, Alaska also has the largest growth rate for older populations, according to Census data.

Source: “New Census Data Show Increase in Older Adults,” St. Louis Post-Dispatch (Dec. 1, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

Sunday Morning Real Estate

2011-12-04T05:23:00.000-05:00

Short Sale Buyers Beware!

I had a bad experience last week. The property I sold, which was due to close on the 30^th of November, did not close because two days before closing the bank holding the mortgage on the owner in default told the Title Agent they refused to pay the back taxes on the property or the back maintenance fees leaving the Buyer with those costs that amounted to over $3000. The Buyer’s down payment, plus their own closing costs left them short of what their lender required as back up cash in their savings account and the deal died. They also felt cheated getting this notice two days before closing.

I asked the Title Agent why the bank didn’t disclose those extra fees early on. She didn’t know and suspects it was done at the last minute by the underwriter who reviewed the closing documents prior to giving it approval to close. The house is back on the market only this time in the Realtor Remarks section, publicly discloses that the Buyer must pay owners taxes and maintenance fees. A little too late for the Buyers I had locked into a loan, which nowadays is hard to get regardless. Banks want so much down plus a high credit score and strong income that most Buyers are locked out of the conventional loan process because of a small ticket item like a late car payment.

This sale was ready to close and the Buyers were anxious to spend their first Christmas in the new-to-them home so the expectation of being happy homeowners was like pulling the rug out from under them. There was no way to explain it. It happened suddenly and in two days we were working with both banks to see if one would offer a solution. They wouldn’t. In fact the lender ran another credit check and saw a small drop in the Buyers credit score. Every time someone runs a credit check, the score drops because of the way the system is rigged. But that was their out for lending more money to cover the additional fees. The couple were heart broken and lost trust in the financial system which isn’t saying a whole lot in this day and age of marketing properties.

It questions whether the middle class has an even playing field anymore with regards to the lending process. Short sales are harder to nail down. I’ve known that for years. But the Buyers almost always get the property for today’s bargain basement prices and if you are shopping price, a short sale will always show up as the best deal per square footage. More house for the money.

In a way it ruined my Christmas too for this year. Extra cash would have made a big difference to my holiday plans. So count me in as one of the losers in the system that greed on Wall Street created for those that don’t have the cash to buy property without a lenders help. I know I’m not the only Real Estate agent that has been shut down when banks play these games. The bank now has to sell the same property again and as usual the taxes will still be owed and the maintenance fees accrue monthly. They might even see the day that our transaction would have net them more than one six months down the road.

If you are looking in Brevard County, Florida for property, give me a shout at victoradamus@gmail.com and we’ll work together to find you a dream home you can afford.

Celebrities From Brevard County, Florida

2011-11-29T08:00:00.000-05:00

YES! We have Celebrities from Brevard County, Florida and at the top of the list is Kelly Slater, world's greatest surfer. Longtime space broadcaster and author Jay Barbree who lives on South Merritt Island. Emory L Bennett, Korean War Medal of Honor recipient. The 520 bridge is named in his honor. Comedian Carrot Top (Scott Thompson) and Backstreet Boys singer Howie Dorough. Howie has a 10,000 square foot home on the Indian River. Football great Doug Flutie is from here. Saturday Night Live Actor Darrell Hammond lived here. Baseball player and manager Clint Hurdle. Olympian and NCAA champion swimmer Mitzi Kremer. Football great Wilbur Marshall. Doors singer Jim Morrison. Al Neuharth, founder of USA Today. And pitching star Tim Wakefield.

FOR THE U.S. THIS IS A DEFINITE QUAGMIRE

2011-11-28T12:31:00.000-05:00

"The deficit that should most worry us is a deficit of reasonableness. The problems the United States confronts are large but not insoluble. Yet sensible solutions that are broadly popular can’t be enacted.

Why? Because an ideological bloc that sees every crisis as an opportunity to reduce the size of government holds enough power in Congress to stop us from doing what needs to be done".

EJ Dionne

SUNDAY MORNING REAL ESTATE

2011-11-27T01:33:00.000-05:00

Nothing Beats Winning the Lottery!

I received a call from my wife’s friend Lucie yesterday. She said my friend Dave had won the Million Dollar Lottery in Virginia and had been overwhelmed with all the money sitting in their bank account. When I asked what he planned for the all that loot, she said, “first thing he did, of course, was bring home fresh salmon and cream for his cat Missy” a luxury he promised her if he ever won the big money. Well . . . I figured that was $50 off his grand net of $1.7 million. When you win the Lottery the U.S. Treasury takes 35% of your winnings right off the top. But Dave is bragging that he’s now in the 1% group of people with wealth but I doubt he’s really taken a good look at how much the 1% minority of wealth really has in this country.

His second purchase, she said, was to load the liquor cabinet with close to a thousand dollars of half jugs (mostly scotch) for parties he plans to share with neighbors and friends. Dave hasn’t had a drink in 10 years, around the time he also stopped smoking. He plans to pay to send their daughter Sherry back to finish her College degree, maybe even get a Masters. She can quit her job now that they have the money. She dropped out of College three years ago because she got pregnant and couldn’t care for the child without help. College became an expense the family could no longer afford.

Yesterday he drove home a Jaguar XK Coupe which he said he talked the salesman down from $95,000 to $86,000 “out the door” price. “It’s my baby,” he told her. Beats driving to work in the old truck he paid off in 2005. That’s the truck with the NASCAR bumper stickers on the truck panels and one on the back gate of the truck which reads “Some Village in Texas is Missing Their Idiot” from the George Bush days as President. He even parks it in the Pentagon parking lot where he works.

Lucie said he may quit his job too and take early retirement. He’s three years away from full retirement and I warned her to look at the health care question for the family as paying for COBRA or an independent plan may soak up a lot of the new found loot if someone needed surgery. Dave’s been on high blood pressure pills for years.

Needless to say it was a very special Thanksgiving Day and dinner for the entire family. They partied into the night. For Christmas family members will receive a check for $50,000 each to spend on whatever they want. And they won’t replace the kids equipment in the backyard. Lucie works as a baby sitter for five toddlers and that job too will end this year.

I suggested they invest some of the money in Real Estate while prices are still low. Buy a three bedroom, three bath oceanfront here in Brevard County, in Cocoa Beach, to get out of the cold in winter. Oceanfront newer units are priced in the $600,000 range and will one day be worth double. I hope she can convince Dave it’s worth considering. The house they live in now is worth what the mortgage is on it but I’m sure he will pay that off. But the most secure investments in real estate are still beachfront or waterfront. Those with two car storage will be worth even more.

Congratulations! Dave and Lucie. I hope you read this post and think about coming down for a visit so we can look at some gorgeous waterfront properties together.

If you are looking in Brevard County, Florida for property, give me a shout at victoradamus@gmail.com and we’ll work together to find you a dream home you can afford.

NASA LAUNCHES ROCKET TO MARS SUCCESSFULLY 10:04 AM TODAY

2011-11-26T05:26:00.001-05:00

This cool poster is Big News here in Brevard County, Florida. We are more than happy to have the shuttle orbiter Atlantis at home here at the Kennedy Space Center. The building to house Atlantis will cost upwards to $100 million for 65,000 square feet, a home to showcase this incredible space vehicle. For more information visit the Kennedy Visitor Complex.

INVESTORS ALERT: 19 ACRE RESIDENTIAL PROJECT AVAILABLE

2011-11-21T10:05:00.000-05:00

Two ten acre lots asking $1.5 Million

Almost 20 acres with 14 acres buildable and four acres preserve all bordering the beautiful park, Mudd Lake, protected by the State. These patio homes could be selling for under $100,000 and are close to the VA Clinic and new facilities in Orlando. It's a perfect location for disable vets too with only steps to the post office and a mile to shopping at Publix or Wal Mart or Winn Dixie. For plat and investment information call me. A rendering or plat of the proposed lots can be faxed or emailed by pdf format.

Victor Adamus

321 639 8806

SUNDAY MORNING REAL ESTATE

2011-11-19T10:17:00.000-05:00

Sock it Away and Then Pay Cash

Interesting story, compatible with what I wrote one Sunday about a couple socking away their owed mortgage money while they sat in foreclosure for three years and when their house sold on short sale terms, they paid cash for a property 550 square feet less but paid cash for it from holding the money owed to the lender of the first house they owned.

Now comes a couple who couldn’t make that dream come true. They only had saved $51,000 and went after listings in their “cash” range because with a foreclosure and late payments or no payments on their credit file they could no longer get a loan from a bank or credit union. So they offered $45,000 cash for a listing in a community of fourplexes. It was a short sale and the lender came back at $55,000 plus $1500 in closing costs the lender refused to pay. Most of those fees are to bring to date the maintenance fee the previous owner stopped paying and taxes that the lender had to pay which they wanted reimbursed to them at closing.

The couple didn’t have the money to go that high.

So they turned down the counter offer from the lender and rented a similar unit in the same complex for $800.00 a month, which included the condo fees. Thing is, they are the group of people who are now pushing up rental rates here in Brevard County, Florida which, in turn, will push up the value of properties. Renters are actually contributing to bringing the market back by paying a higher rent than the previous renter. In this case $100.00 more per month than the last Tenant.

Is it a good way to go or not? Well, unless the U.S. Government creates a loan program from government funds at one percent for all homeowners underwater, dropping their monthly payments 60% or more, these games will continue in the marketplace by people just fighting to survive. The economy does not look as if it will be short term, ending soon, or even by election day next year. Instead it’s time for the Obama Administration to take aim at helping the American Homeowner. The Federal Reserve lends banks money at 0%. The big boys get it all forcing the consumer to create their own wealth off defaulting on loans.

The one percent idea has been on the table since 2008. No one in Congress has ever put a one percent solution into a bill to even be considered. The president has never taken one side or the other. He wants a jobs bill and one that pays for itself.

I’m squarely on the homeowners side. I would like to think there is someone out there working up the numbers similar to the one percent solution to save the home market nationwide. There are so many ideas already floating around Washington, D.C. I say “pick one”. Get it going in the next 30 to 90 days. Don’t wait. And once again we will see a market increase in values, people saving half their mortgage money and saving it or spreading the excess around as consumers. That itself would put an end to these property math games.

If you are looking in Brevard County, Florida for property, give me a shout at victoradamus@gmail.com and we’ll work together to find you a dream home you can afford.

BREVARD COUNTY FLORIDA IS A GREAT PLACE TO RETIRE TO!

2011-11-18T14:08:00.000-05:00

While most piers in Florida tend to be geared toward fishing and sightseeing, the Cocoa Beach Pier, also known as the Canaveral Pier, is largely devoted to eating and drinking and people-watching. That isn't to say some serious fishing doesn't happen here, but it is overpowered by the restaurant business. The pier is actually a bit tricky to find if you've never been here before. It's on Meade Avenue and Ocean Beach Blvd. Just look for the Best Western Hotel. There is a traffic light. You can park in the pier parking lot for $5 per day, or you can find metered parking on the streets around the pier. If you just want to go fishing, I'd recommend that you drive north for 20 minutes or so to Port Canaveral's Jetty Park. The fishing is MUCH better there and you don't have to push your way through the pier restaurants to get to the fish.

Sunday Morning Real Estate

2011-11-13T10:52:00.001-05:00

WHAT IS THE ROBIN HOOD TAX BILL?

The Robin Hood (financial speculation) tax is a tiny pinch that would be felt primarily by high-volume, high-speed traders who deal in stocks, bonds, foreign currency bets, derivatives and other Wall Street financial products.

With a tax of only a fraction of a penny, we could raise billions to create jobs, lay the groundwork for long-term economic prosperity and help reduce the national debt. The Robin Hood tax also would discourage risky Wall Street speculation and encourage longer-term investments that would strengthen rather than endanger the economy.

These taxes have received broad support including this blogger who believes it would solve a good portion of our nations bleak economic outlook:

Economists, political leaders, religious leaders, business people and civil society groups around the world all support a financial speculation tax. Prominent supporters include Nobel Prize winners Joseph Stiglitz and Paul Krugman, President Nicolas Sarkozy of France, Chancellor Angela Merkel of Germany, Prime Minister Jose Luis Rodriguez Zapatero of Spain, Warren Buffett, George Soros and the Catholic Church.

Bill Gates also supported the tax at the G-20 summit in Paris. In the U.S., "Sen. Tom Harkin (D-Iowa) and Rep. Peter DeFazio (D-Ore.) introduced the Wall Street Trading and Speculators Tax Act that would assess a financial speculation tax of .03 percent."

I found this report at a blog named Crooks and Liars. I think it is worth a read.

Sunday Morning Real Estate

2011-11-06T11:13:00.000-05:00

It's a Buyer's Market!

I’m sure you may have read that guys putting up mirrors in the shower area of their homes are doing so to shave with hand soap and use the mirror to see what their pulling down on with the razor blades. Many that write in men's magazines claim up to $500 a year savings for just that little trick. It also claims to give the guy a closer shave. And if you pat dry the razor blades they last up to four times longer.

Well another way to save is if you are a renter paying $650 to $1400 a month in rent, you are, in effect a perfect person for home purchase. And buyers who are buying are buying at yesterday prices with todays dollars. This is a lot more than saving $500 a year. It might mean the difference between actually making money off the purchase later down the road, living in a larger and nicer place, and knowing the property belongs to you. You get no benefit from renting. The benefits go to the Landlord who owns the property and receives the income.

But I love to read how people are saving money. Our creativity shouts out in these dismal times of the Great Recession. Yet with 9% unemployment, it means that 91% are employed. Even though the banks are sitting on their cash, the usual shell shock for having trusted the brainiacs of Wall Street, there is money to borrow from Credit Unions and Community Banks if you are serious about owning your own place to live.

I understand that in these troubled times some folks have lost their credit rating, carrying bad debt themselves, just like the big boy banks, but to a much lessor degree. It will still prevent you from getting a loan, so if you still want to compete for a property to own while prices are low, get with a Mortgage Lender, preferably at a Credit Union or Community Bank and see what needs to be done to clean up your credit score so you can join the ranks of homeownership.

Just like the guys who shave in the shower, start saving all those pennies for a home purchase. It may seem that this recession is going to last forever but before you know it, that window will close and another one will open and if we have higher prices, driven up by people getting better paying jobs, then people who could have bought now will be left out in the cold.

If you’re looking in Brevard County, Florida give me a shout at victoradamus@gmail.com and we can start the lending process so we know your limit, how much house you can afford. Then get out there and look for the home of choice.

321 639 8806

Stunning Beach House Under $2,000,000

2011-11-05T09:41:00.000-04:00

Entrance

Real Chef's Kitchen

Your Walkway to the Atlantic Ocean

	Incomparable oceanfront gated home so close to it all. Four bedroom suites (master on ground floor), chef's gourmet kitchen, lots of storage, large family room upstairs with wet bar, panoramic views of the beach/ocean from all rooms, outdoor entertaining area with summer kitchen, yum yum, rooftop balcony, tropical pool with cabana overlooking the ocean. Only the finest of materials and craftsmanship! See it With Me 321 639 8806

Sunday Morning Real Estate

2011-10-30T10:20:00.000-04:00

Save Time While Shopping for a Home Mortgage

I put in a good deal of personal study time directly on financing real property this year because too many banks were turning down too many couples with good credit. One single person had an 800 credit score, owned her own car, and had a second income from a Trust set up by her parents. We found talking to a credit union was the answer, after a national bank turned her down.

Now Credit Unions, Community Banks are the first stop on the trail to home finance for me. That is what I found out this past year and it’s worth mentioning that the absolute very first step when I’m introduced to a new person, new buyer, is to get information from direct underwriting which means I have to get an underwriter involved in the beginning, not once we’ve found that home of choice.

These are my new rules. Because the banking and lending has changed so dramatically, one must adjust and fine tune approaches that otherwise would be a phone call away. Where underwriting was the last stop in the loan process, I make it my first stop. Also, once the underwriter has committed him or herself to support the buyer in writing, you know they have also run a credit check, done the averages based on three scores, known if there is a judgement on the credit file and so forth. So the pre-qualification letter isn’t just a list of items a lender has to check on, most on the list have already been done. This Buyer is ready to Buy!

Credit Unions and Community Banks take longer to process the loan. Yes, this is true. But it’s a better relationship, knowing up front that once the checks are done and the income stubs are approved, and a Landlord reports the Buyer pays on time, and there are no foreclosures in the Buyer’s past, then the lender can say they have the confidence to fund the new home.

Every State has a list of Credit Unions and Community Banks, mine are all in Brevard County:

Community Credit Union

Space Coast Credit Union
Community Bank of the South
Seacoast National Bank
Kennedy Space Coast Credit Union

Any of these local lenders can get that paperwork from underwriting, which may take more time, but, I think, well worth it in the path to home ownership. Keep in mind a lot of rules have changed, mostly rules that eliminate the middle class burdened with credit card debt, auto debt, and personal lines of credit. Without 20% down, a first time Buyer is encouraged to look at FHA and pay 3.5% down. Veterans can get a VA loan for 100% and just closing costs of a thousand dollars or less in most cases. Again, clean credit, higher than 740 on the credit score, and no late payments will stand the Buyer well in the loan process.

But I would look first to the people who are solid in the community and don’t waffle on the numbers towards the week of closing. The community banks are a wonderful way to start your day if you plan on securing home ownership.

And if you’re looking in Brevard County, Florida give me a shout at victoradamus@gmail.com and we can start the lending process so we know your limit, how much house you can afford. Then get out there and look for the home of choice.

321 639 8806

2011-10-23T03:00:00.004-04:00

“Home for the Holidays”

The announcement I’ve been waiting to hear for more than five years arrived this past week when President Barack Obama promised to end the war in Iraq by removing all troops by year end. I couldn’t be more excited. A war which Obama said was “a dumb war” when he ran for a councilman position in Chicago years ago, who would have ever guessed the same person would be standing in the rose garden calling an end to the war himself?

Chief Master Sgt. Gerald Delebreau who is in Iraq, according to Florida Today, is helping with the transition of troops back to Patrick Air Force Base here in Brevard County, Florida. This announcement to end the war keeps a brokered agreement made between the U.S. and Iraq by former president George W Bush. It’s quite unusual for Republican hopefuls to call foul ball at this historic moment. It was Bush, a Republican President, and Dick Cheney, Vice President, who set up the time table to draw down the troops.

Secondly it will stop the billion dollar a day expense to fund the troops in Iraq and help to stabilize our economy here at home. Something again, the Republicans in control of the House don’t care about, that and creating jobs. Obama is the only adult in the room. He is doing anything and everything to continue to improve American lives while the Congress sits on its’ hands.

One of the most outspoken Republicans to slam the President’s decision is John McCain (R-AZ) who lost the Presidency to Obama in 2008: "Today marks a harmful and sad setback for the United States in the world," McCain said in a statement Friday afternoon. "I respectfully disagree with the President: this decision will be viewed as a strategic victory for our enemies in the Middle East, especially the Iranian regime, which has worked relentlessly to ensure a full withdrawal of U.S. troops from Iraq."

The outcome, of course, for the government in Iraq has been a stalemate between those that want Iranian control by the Mullahs in the South and in central Iraq a moderate group that is encouraging a democratic government. The Kurds in the North are at war with Turkey. Whatever was going to happen would have happened years ago but for the fact that Americans had boots on the ground separating those two factions.

Now Iraq can do and be what it wants. It would be that way even if the U.S. stayed another nine years but what’s the point? I’m happy to see the end is near and all the dollars we save from supporting a sinkhole in Iraq are needed here to help the U.S. American families who are unemployed.

Let’s look forward to stimulating the housing economy and welcoming the troops home. Home buying couldn’t be better and if you know someone looking for property in Brevard County, Florida, have them give me a shout at victoradamus@gmail.com and we’ll find them their house of choice.

321 639 8806

From the National Association of Realtors

2011-10-17T15:23:00.000-04:00

Top 10 reasons to own rather than rent

1. You own it: With no landlord, you make the decisions.

2. You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes.

3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market.

4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests.

5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit.

6. You can predict expenses: Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time.

7. You pick it: Choose from different neighborhoods, styles and price ranges.

8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you.

9. You live in a neighborhood: You and your neighbors take pride in the local schools, roads and more – and you work together to build a friendly community.

10. You spend money on yourself: When you buy a chandelier or hardwood floor or kitchen cabinet, you’re spending hard-earned money on yourself and building your equity at the same time.

Buy with a Realtor who has more than 30 years experience. If you're looking in Brevard County, Florida Call:

321 639 8806

Sunday Morning Real Estate

2011-10-16T08:59:00.000-04:00

A Twist on Gaining in Foreclosures

Well it had to happen. Some smart money people figured out how to top end the foreclosure game. I had heard about people not getting foreclosed on for more than two years and I also found it rather odd that people are signing short sale deeds on properties they vacated to move to a property they had paid cash for and now own. But how did they pay cash for one house when they owed a mortgage on the other even though they went into default?

The answer, of course, is they made the same payment to their savings that would have gone to pay down the mortgage. Case in point is my last sale. The people owed $200,000 on a no doc loan from a lender out in California. When they found out the same properties in their neighborhood were selling for $95,000 they stopped paying the lender and started putting the monthly mortgage payment into savings. 30 months later when they have a court date for foreclosing on the property by the lender, they take the $50,000 from savings and buy a short sale for cash. They beat the bank at their own game, in a way.

Maybe. That’s if they don’t get stuck with the bank selling the house for less and sending them a 1099 for the difference. A 1099 is a government form used to declare income. Usually that happens only if the people are defaulting on an investment property. Playing the Real Estate market like a casino and losing. If the loss is huge, it may even take them into bankruptcy. It varies from State to State.

The people who bought my listing made higher than middle class incomes. Both are professionals but refused to carry a property that was worth half what they owed. Secondly, the property was not suitable for a retirement home, too big. What they sized down to is in a gated community with two pools, a lake, picnic area and jogging trails, a few minutes from major shopping and 15 minutes to two different hospitals. So in six years when they retire, they will already be where they want to be.

With no mortgage to pay and only an association fee of $225 a month, which includes water and sewer, the only other cost is electricity. Six years of banking more money will put them ahead again and quite possibly their short sale investment will be worth more than what they paid. It had sold in the boom days for $155,000.

It wasn’t my place to ask them if they had a retirement plan, 401k or other company benefit, because too many people have lost most of their contributions when the stock market crashed. But even so, if they both take Social Security and use the savings over the six years they invested, they should have a nice chunk of money to draw down from in an emergency. I mean who wouldn’t want to live in a nice place for $225 a month?

If you’re looking for a solid investment property with bargain prices here in Brevard County, Florida, give me a shout at victoradamus@gmail.com and I’ll be more than happy to show you properties in your income range.

Or Call

321 639 8806

LOVELY 1945 REMODELED BEACH HOME ALL CEDAR $999,750

2011-10-14T09:38:00.000-04:00

Entrance to Home

Backyard on the ocean

Timeless Cedar Shake style, oceanfront home offers 4 bedrooms, 3 baths with detached 2 car garage and fireplace. Enter into the natural light filled minimalist style interior with floor to ceiling tongue & groove paneling. The master suite occupies the entire 2nd floor complete with designer fixtures, dual vessel sinks, jetted tub and balcony overlooking your private ocean view. Master closet with custom shelving and space galore. Great value in this highly detailed, meticulously maintained home.
See it With ME 321 639 8806

NEW CREDIT SCORE MAY MAKE IT MORE DIFFICULT FOR BUYERS OF ALL AGES TO PURCHASE REAL PROPERTY

2011-10-10T14:40:00.000-04:00

From the National Association of Realtors

NEW YORK – CoreLogic announced a new credit score service, CoreScore, which will give lenders greater insight into a borrower’s outstanding debts and help to understand their credit worthiness. The new CoreScore credit report, which will be available to lenders and consumers, will include credit-risk information, as compliant with the Fair Credit Reporting Act.

It will not replace current credit reports but aims instead to fill gaps in current credit score reports.

The report will help “lenders mitigate risk by uncovering debt obligations, and increase new lending opportunities by identifying previously hidden credit behavior that could improve a consumer’s credit profile,” CoreLogic said in a press release announcing CoreScore.

According to CoreLogic, the reports will include buyer information such as:

• Properties owned (with and without debt obligations)
• Mortgage obligations with companies that may not report to traditional credit reporting agencies
• Property legal filings, such as notices of default
• Property tax amounts and payment status
• Estimated market values on all U.S. properties owned
• Rental applications and evictions
• Inquiries and charge-offs from payday and online lenders
• Consumer-specific bankruptcies, liens, judgments and child support obligations

CoreLogic will pull the information from its real estate database, rental information and public records.

From Florida Today . . .

2011-10-08T15:35:00.000-04:00

Canaveral Fire Rescue received state of the art firefighting equipment from Seaport Canaveral on Friday morning. The equipment included a Ranger 3 water cannon, capable of projecting water more than the length of a football field and could fill a swimming pool in three minutes.

Two Bedroom, Two Bath for $45,000. . . WOW !!

2011-10-05T14:09:00.000-04:00

View of Lake

Kitchen with Indoor Laundry

Courtyard with Tool Shed

Quail Ridge is a bedroom community in Cocoa, Florida just walking distance to Wal-Mart, diners, strip malls and a mile to the Beach Line for beaches heading east, Orlando heading west. It's the best priced property foreclosure I know of because it's clean as a pin. Just move right in. The location is great for a retired couple or income property. Quarterly ground fees are low and the community has a clubhouse and pool. Buy this condo and pay less than what 2/2's rent for.

SEE IT WITH ME!

321 639 8806

Philandthropist to the Arts Honor Heritage

2011-10-03T10:33:00.000-04:00

Remembrances of her Dad Samuel J Foosaner
(read the entire story by clicking on Florida Today below)

Arts philanthropist Dee Negroni-Hendrick sits in the living room of her spacious ninth-floor riverfront condo in Cocoa holding a thick folder brimming with pages that will form her father’s memoir. Editing marks cover most of the pages detailing the life of Samuel J. Foosaner.

She leafs through the loose pages until she finds the spot she wants, his remembrances of the Great Depression. She reads aloud:

“If ever I was humanly touched by profound compassion and sympathy, it was then.”

She begins to cry. This is an exceptional moment for a strong, no-nonsense woman known for her deep patronage of culture and education.

Composing herself, she explains her response.

“It’s a compassion that he had for people in less fortunate circumstances, which is what I love,” she said.

Foosaner’s compassion ran so deep that in 1980 he formed the Foosaner Foundation with $100,000. It has been run by Negroni-Hendrick since her father’s death in 1988.

Last July, Negroni-Hendrick closed out the Foosaner Foundation with a $1 million gift to benefit what once was the Brevard Art Museum. The name of the museum, now run by Florida Tech, was changed to Foosaner Art Museum.

Written by

Pam Harbaugh | FLORIDA TODAY

Sunday Morning Real Estate

2011-10-02T09:07:00.000-04:00

Living Ea$y in the Sunshine State

Say what you will about the housing market but boomers on small monthly incomes are finding their dollars go further here in Brevard County, Florida.

A couple I worked with in June just closed on a two bedroom, two bath condo, ground level, and has a view of the 10^th hole from their neighbors, one of the oldest golf Country Clubs in Brevard.

They paid cash . . . $35,000 to a Short Sale and considered the facts that the monthly maintenance fee is $200 and the taxes are $1100 a year it was well within their budget. The condo has 1200 square feet under air and a 20 foot by 6 foot screened porch which will be breezy and cool come this winter. They moved down from Virginia Beach, Virginia for a lower cost of living without giving up quality health care for seniors. Their combined Social Security is $1800 a month. “Thank God we own our own car” said Jenny. The condo had a make over a year ago including new A/C which was a bonus at this sold price.

There are 152 short sales in the MLS here that are 2 bedrooms, 2 baths from Mims to Malabar, some with an inland Lake view or golf course view. Closer to central Brevard, there are 16 that fit into the range of the buyers above. They chose this one because it was one mile to a major hospital and two miles to shopping. It also has a sports pool and clubhouse to entertain guests. The unit sold with one covered parking space and the owner said he never paid more than $88 a month in total utilities.

Even though the couple had hoped the market up in Virginia would turn around, increase in value, they said they couldn’t wait to get out of the cold and into the tropics. Both are over 70 and worked hard all their lives, she in retail, he sold used cars. They had paid off their house in 1999.

I’d like to send this story out to those in the north who have never learned the secret of Brevard County, Florida. We have miles and miles of beaches from Cape Canaveral to Sebastian Inlet. The Cruise Lines, including Disney, a gambling boat, and a location so convenient to Disney World and other parks, this is simply is a great place to retire to.

If you’re coming our way and would like to preview some investment properties or places to retire to under the sun, now is the time to buy while we still have bargain basement prices. Just give me a shout at victoradamus@gmail.com and we can set up a time to go see those listings in your price range.

Sunday Morning

2011-09-25T10:01:00.001-04:00

Breezy and Cool

Yup, that’s how we Floridians love our winters. It’s the best time to live in Florida and a special time if you live here in Brevard County. Our being so close to the Atlantic Ocean gives us a breeze as far inland as 10 miles. It’s the time of the year where instead of a change of seasons where people up north enjoy the colors of the changing leaves and the smell of burning leaves in the air, we enjoy steady temperatures of 60 degrees in the morning and 75 degrees in the afternoon. By December we will have what’s called “sweater weather”.

Brevard County is about 50 miles below the frost line. If you drew a straight line from Mobile, Alabama on the coast, through my hometown Panama City Beach and across Florida to between Daytona and Jacksonville, everything below that is below the frost line. I have been in the panhandle for Christmas and to a Florida boy this is like living up north. So cold I couldn’t get enough heat from the hotel burner and slept in my clothes.

All of Florida, when I grew up, was mainly clap board houses in the back woods and all dirt roads. We did visit my Grandfather in Miami a few times and found the beaches totally different from what we were accustomed to but the row of buildings across the street from the beach was what impressed me the most. That’s because, back then, our only good sized building in Panama City was City Hall which also served as the courthouse. We hung out at Tyndal Field Air Force Base because the airplanes from World War II were reconditioned there and the Army/Air Force was testing new jets. We could see them coming in over the ocean and loved it when they came so low it felt like they were on top of our heads. Today the jets are bigger, faster, and break the sound barrier over most of Panama City Beach. And of course the security is so tight only military and their family are allowed on the base.

But I’m happy where I am. I love the weather, even though I only tolerate 99 degrees in the summer. We say “Good bye Summer” when most folks up north say “Hello Summer”! I would have to say living in the tropics, close to Disney and Sea World and all the other parks plus some famous restaurants to enjoy, I’m in my comfort zone here in Brevard County.

Median Sale Prices on the Rise Nationwide

2011-09-21T15:33:00.001-04:00

Florida Markets Exceed National Average

ORLANDO, Fla. – Sales activity and median prices for Florida’s existing home and existing condo markets rose in August, according to the latest housing data released by Florida Realtors®. Existing home sales increased 15 percent last month with a total of 16,206 homes sold statewide compared to 14,131 homes sold in August 2010, according to Florida Realtors. The statewide median sales price for existing homes last month was $137,500, up 2 percent from the year-ago figure of $134,900. August’s statewide existing home median price was also slightly higher than it was in July.

“Over the past few months, it appears that home prices have been stabilizing in many local markets across the state,” said 2011 Florida Realtors President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “This is another positive sign that the housing recovery is gaining strength.”

According to analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. 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 August 2011 was $168,400, down 5.4 percent from a year ago, according to NAR. In California, the August statewide median resales price was $297,060; in Maryland, it was $241,564.

Fifteen of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales in August; 15 MSAs also had higher existing condo sales.

In Florida’s year-to-year comparison for condos, 7,098 units sold statewide last month compared to 6,041 units in August 2010 for an increase of 17 percent. The statewide existing condo median sales price last month was $91,100; in August 2010 it was $81,500 for a 12 percent increase. According to NAR, the national median existing condo sales price was $167,500 in August 2011.

NAR’s latest industry outlook notes that despite high affordability conditions, sales activity is underperforming, partially as a result of overly restrictive lending standards.

“Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers,” said NAR Chief Economist Lawrence Yun. “Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate additional economic activity and create jobs.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.27 percent in August, down from the 4.43 percent average during the same month a year earlier. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

FAR

Let's Do the Numbers

2011-09-19T16:07:00.000-04:00

Congress approval at all time low: 13%

Obama approval at all time low: 38%

Food stamp recipients at an all time high in May: 45.8 Million

Number of jobs created in August: 0. First time since WWII we’ve hit 0.

Number of bank executives prosecuted, indicted or imprisoned due to fraud: Zero

Approx number of homeowners or individual brokers prosecuted, indicted or imprisoned for mortgage fraud: 31…in the last 3 weeks.

70 bank failures this year so far (September 2, 2011). That’s behind last year’s record number but still a way ahead of years like 2006, when there were none.

Homeownership at lowest level in at least 13 years. 65.9%; Morgan Stanley says that’s optimistic, if you factor in those delinquent homeowners and the real number is more like 59.2% the lowest level since 1965

Sunday Morning Real Estate

2011-09-18T09:11:00.001-04:00

Looking at the Discount Mart in Real Estate

From my vantage point it looks like lenders have finally figured out that a Short Sale is less costly than legal fees to foreclose on a property where the owners have stopped paying the mortgage. The foreclosure, which gives the property back to the bank, usually comes with costly items to fix before putting it up for sale for less than what was owed on the property anyway. So why not take less now and be done with it? The short sale has become the discount mart for home ownership.

Yes it hurts the people who bought their homes prior to 2005 because when the boom went bust so did their equity. Short Sales drive down values so the millions of homeowners hoping to draw down on their equity into retirement will likely sell out and pay cash for the next home and later do a reverse mortgage to stay level with inflation. But needless to say, once the short sales remove toxic properties from the marketplace, values will rise and stablelize again making for a solid investment.

The Short Sale process is lengthy but not as long and drawn out as a year ago. Processors are in place and well trained to handle the numbers for the bank willing to take less than what is owed. Some transactions that had Private Mortgage Insurance (PMI) can claim against some of the defaults and actually come close to what they loaned on a property that has dropped in value some 40 to 57%.

The Short Sale I closed on last week also had a mandatory form for both parties to sign which assured the Buyer that the difference in what was owing will never become a lean against the Title; to the Seller, the lender will never go after them for the difference. This includes the IRS claiming the difference as income, although this isn’t the case in all transactions. There are investors that raised capital to buy multiple properties and then let them go into foreclosure realizing they will never make a dime in a depressed market.

Short Sales help get toxic properties off the lenders books. Buyers get the benefit of an affordable house with a low interest rate usually around 4%. So some say it’s a match made in heaven. It can also be a long term gold mine even if you have to make a few trips to Lowes or Home Depot. Because the Buyer has bought the property for half the original value, if long term, an investment in the property will only raise its’ value or if nothing else be the gem that shines when it’s their turn to sell.

Brevard County, Florida has properties offered as short sales in every price range. If you’re looking for a list of them to preview Adamus Realty Group is only a phone call away.

3216398806

If you are looking for a solid investment in real estate in Brevard County, Florida give me a shout at victoradamus@gmail.com and we will spend the time needed to find you the best investment.

A Huge Player in Mortgage Default Looks Like It's Finally Hitting the Wall

2011-09-13T16:34:00.000-04:00

Bank of America will eliminate 30,000 jobs

NEW YORK - Bank of America is slashing 30,000 jobs as part of an effort to reverse a crisis of confidence among investors. It’s the largest single job reduction by a U.S. company this year.

What CEO Brian Moynihan is trying to do is nothing less than save the nation’s largest bank. Investors have cut the bank’s market value by half this year. The bank is facing huge liabilities over soured mortgage investments and concerns over whether it has enough capital to withstand more financial shocks.
The cuts, which affect Bank of America’s consumer businesses, represent 10 percent of the Charlotte, N.C. bank’s workforce. The bank said it hopes the cuts and other measures will result in $5 billion in annual savings by 2014. The bank has already cut 6,000 jobs this year. The bank also said it would look for cost savings at its other businesses in a six-month review that will begin next month.

“It’s as if someone has hit the panic button,” said Bert Ely, president of banking consultant Ely & Co.
Moynihan has been taking other steps to shore up the bank’s standing. Last week he shook up the bank’s top management ranks and has been selling parts of the company to raise cash. Last month Warren Buffett’s Berkshire Hathaway Inc. invested $5 billion in the company.

Moynihan has struggled to calm investors ever since he took the top job in January 2010. He is reversing the empire-building strategy of his predecessor, Ken Lewis, who stepped down amid controversy over the purchase of Merrill Lynch during the financial crisis. Lewis also engineered the ill-fated acquisition of Countrywide Financial Corp., then the country’s largest mortgage lender, which has led to heavy financial losses, lawsuits and regulatory probes.

Moynihan is now taking a knife to the company, hoping to shrink it down to a more manageable size even if it means losing the bragging rights of being the nation’s largest bank. “We don’t have to be the biggest company out there,” said Moynihan.

Bank of America’s stock has lost 48 percent this year, largely because of problems related to poorly written mortgages at Countrywide. Just in the first half of the year the bank paid out $12.7 billion to settle claims from investors that it sold them securities backed by faulty mortgages.

Some investors and analysts worry that the job cuts will lead to poor customer service and the bank will lose market share to rivals at a time when there are signs that the economy is slowing down. They also wonder if the job cuts are enough to produce the profits the bank needs to overcome the spiraling costs from its mortgage business.

“There is a fair amount of skepticism on Wall Street, and Brian is doing as much as he can do in the face of a worsening economy,” said Nancy Bush, an analyst and contributing editor at SNL Financial, a research firm.

The bank’s stock was down for most of the afternoon but rose along with the overall market to close up 7 cents, or 1 percent, at $7.05.
The job cuts follow a revamp of the bank’s top management team last week. Two senior executives, wealth management head Sallie Krawcheck and head of consumer banking Joe Price, left the bank. The bank also elevated commercial banking chief David Darnell and investment banking head Tom Montag to co-chief operating officers, reporting to Moynihan.

Bank of America is seen as one of the most bloated banks in the industry. The payroll cuts will bring its work force in line with some of its key rivals. JPMorgan Chase & Co. had 250,000 workers at the end of the second quarter.

“Financial companies have already been cutting for a few months now. He’s a little late to the game already,” said Walter Todd, a portfolio manager at Greenwood Capital, which owns Bank of America preferred shares.

The cuts are the largest by a U.S. employer this year, according to the outplacement consulting firm Challenger, Gray & Christmas Inc. Merck & Co. said this year it would cut 13,000 jobs. Bank of America’s cuts are the largest since the Postal Service announced 30,000 job cuts last year. General Motors Co. cut 47,000 jobs in 2009.
Copyright © 2011 The Associated Press, Pallavi Gogoi, AP business writer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Well It's About Time . . .

2011-09-02T14:49:00.002-04:00


Feds sue banks over mortgage fraud By: Tim Mak September 2, 2011 06:02 AM EDT
The Federal Housing Finance Agency is expected to file lawsuits seeking billions in compensation against more than a dozen big banks, accusing them of financial misrepresentation in the mortgage market, a significant cause of the American economy’s current state of economic distress, according to a report Friday. The federal agency will file suits in the coming days, primarily aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank among others, The New York Times reported. The lawsuits will argue that the banks, which combined mortgage loans together and marketed them as securities to investors, did not perform the due diligence required under law, and will seek billions of dollars in compensation. The agency alleges that the banks did not notice that those who took out mortgages had their incomes inflated or falsified - which made them look better able to take out more expensive mortgages, The Times reports. When many borrowers became unable to pay their mortgages, the securities quickly lost value. Fannie Mae and Freddie Mac, which the Federal Housing Finance Agency oversees, lost more than $30 billion, in part because of these deals. The losses were mostly borne by taxpayers. The United States’ ongoing economic downturn is in part caused by the crash that was precipitated by the housing mortgage crisis. “The impending litigation underscores how almost exactly three years after the collapse of Lehman Brothers and the beginning of a financial crisis caused in large part by subprime lending, the legal fallout is mounting,” The Times reported. However, in a time of slow economic growth, bank officials have warned that further legal attacks will only delay the recovery in the housing market, and that lawsuits which could cost banks billions - resulting in a need for a further round of bailouts. The suits are being filed within the next week. Meanwhile, the Federal Housing Finance Agency is in the midst of another suit, which it filed in July against UBS, another major mortgage scrutinizer. In that lawsuit, the agency is seeking to recovery at least $900 million. Freddie and Fannie acquired the risky mortgage securities before the housing market collapsed when the investments looked relatively safe. Although the securities were backed by risky loans, they were rated as safe investments by rating agencies. As of June 30, Freddie Mac and Fannie Mae hold more than $118 billion of securities backed by risky home loans, with total losses so far at around $33 billion.

Best Buy This Week $1,115,000

2011-08-29T11:14:00.000-04:00

Wonderful Property at Still Point Drive in Melbourne Florida

Entrance View of Property

Eat in Kitchen with River Views

Pool and Spa

Private Dock

This property has it all. Magnificent river views. A 4 bedroom, 3 bath, over 3,000 square feet under air, with octagon dining room and built in buffet. The gourmet kitchen and Master Suite are only two of the hot buttons found in this incredible home with excellent location to schools and shopping.

See it With Me!

321 639 8806

Ask for Victor

Sunday Morning Real Estate

2011-08-21T09:16:00.000-04:00

Boomers are Looking Hard at Florida

The Summer selling statistics were OK for Brevard County, Florida sales. Not as good as previous years going back before the boom days. But back then we also didn’t have huge areas of new communities, springing up across the County. Now we do. And not to my amazement older folks facing retirement are making their plans and many include a pool home here in Brevard, less costly than other areas of the state, and close to major medical centers.

People looking want to buy now while the prices are still reasonable. Even though most of the cream on the high end is gone, waterfront on rivers and canals are still selling for half of what they sold for in 2005 and half had owners who improved the properties over time. Look for modern kitchens and baths and maybe a new finish on the pool. For boaters a few owners have installed docks with heavy lifts.

It’s no surprise that people have calculated what they need to retire on and where the healthiest place to retire to could be. I know a couple who has already traveled this summer to parts of Califronia; Arizona; and Nevada in the hopes of finding a location that fits both wallet and quality medical services. We fill that nitch here in Brevard. It’s a wonderland of sports, exercise programs, top notch health facilities, and close to the parks over in Orlando.

There is little thinking going on as to what to do on a weekend here in Brevard. Even the Brevard Zoo has expanded and offers some unique rides for kids and teens. The wildlife there is terrific. The Zoo is a good place to spend the day if you’re not a beachcomber and have to have the salt air first thing each morning.

Condos on the beach can still be had for half the price they were selling for a few years ago. Townhomes too have great price reductions. You can pick up a one car garage and extras square footage; or courtyard for privacy for the same price as an ocean front 2 bedroom, 2 bath. And the townhomes are walking distance to the ocean.

Whatever your lifestyle it can be found here in Brevard County, Florida. Even horse riding is competitive and we have training camps and ranches to store your horse and shows throughout the state.

Sunday Morning Comment on Real Estate

2011-08-14T11:36:00.000-04:00

All We Need Here is Another Sports Bar

Well I know Brevard County, Florida is still growing, still expanding west of I-95, and there is ground breaking in Viera for more food shopping outlets. But really, folks, all we need here is another Sports Bar and hearing that Buffalo Wild Wings is building off I-95 in Palm Bay, great location, by the way, there must be 49 sports bars per square 5 miles here in the County already.

OK maybe I’m exaggerating. But most strip malls have a Beef O’Brady’s; Norman's (not a franchise) has been popular in the Village with a super location, easy access from I-95; and spinkled along the beachfront is every kind of pizza sports bar imaginable including the franchise store fronts, one that boasts a “hot and ready” large for $5 bucks.

I probably am the only person in the County that acknowledges we are in hard economic times. No one has told the people at Buffalo Wild Wings that 2000 jobs at the Space Center just hit the wall or that our unemployment numbers are a tad below the 9% national level. They haven’t called to speak with me and I’m sure their demographs are the same I get, that boomers are heading this way in huge numbers from 2012 to 2017. So the old timers, like myself, have to eat their wings somewhere.

I did have lunch at a Buffalo Wild Wings restaurant up in Michigan years ago when the owners first started the original bar on a college campus in Ohio. The wings were good because the sauces offered were so flavorful and most of the wings were thick with meat, not what you get at some hotel restaurant chains that really don’t specialize in wings. It’s mostly the dip, garlic or hot, that is the draw for people who like wings.

Of course I’ll welcome another franchise to Brevard County. I love going to grand openings. I won’t give up on Ruby Tuesdays, Chili’s or my monthly trip to Outbacks though. But I guess there is always room for one more.

50 Millionth Shopper at Ron Jon Surf Shop !!

2011-08-13T08:54:00.000-04:00

We have it all here in Brevard County, Florida

Olivia Jensen, wrapping up a four-day beach vacation Friday with her brother and father, simply wanted a Ron Jon sweatshirt before heading back to Clearwater.

Her father, Mark Jensen, wavered, but, like many parents, he ended up giving in to his 12-year-old daughter's pleading dark eyes and dimpled smile.

The family ended up getting a lot more than a hoodie.

Jensen became the 50 millionth guest at the landmark Cocoa Beach store as he strolled in with Olivia and her brother, 13-year-old Mark Jr. The honor carried with it a surfboard, a $550 in-store shopping spree and a $2,000 check to be used at any other Ron Jon location throughout the United States.

"This is unbelievable," Mark Jensen said, posing for photos with his children as he was handed a surfboard-size ceremonial check for $2,000 signed by Ron Jon President Debbie Harvey.

READ MORE

Sunday Morning Real Estate

2011-08-07T09:12:00.000-04:00

Get the Facts Online

There’s a good letter to the editors of Florida Today in today’s Sunday edition by George Marker of Melbourne. Like me he is getting tired of reading letters and for me hearing clients distort the facts about our national debt. George writes if you want the truth “go to the Treasury Department website and search for the historical debt outstanding”. It’s there.

You can find it here.

You will learn that there were no funds set aside for the two outrageous wars of the Bush Administration, references that are historical fact that Tea Party Loonies don’t want you to remember. Yet the wars continue and even yesterday 30 Navy Seals were shot down in a Helicopter in Afghanistan trying to rescue trapped soldiers in a shooting spree with the Taliban.

There are other findings at the Treasury website that during the Bill Clinton years the debt ceiling was raised without any fanfare unlike we just experienced; Reagans Administration too; Both Bushes raised the debt ceiling; and Clinton left Bush with a budget surplus. So for eight years the country was on a spending spree . . . all Republican driven and every time the debt ceiling was raised it was raised with one sentence on a piece of paper and voted for in both the House and Senate without a whimper or a cry.

Those days are gone. The crazies have taken control of the House and you can bet there is more harm to come from them in slowing our desparate recovery. That is why the Standard & Poors dropped the U.S. credit rating one huge notch.

This year has been slow going in the housing market due to the unsettled feelings of where this country is heading. People are holding back their earned money and Wall Street is sitting on Trillions. Job growth is up but not up enough to balance the monthly numbers of new people entering the job market. These are facts Americans have to deal with and do it in a partisan way. Not listen to House representatives who want to destroy this great nation.

Don’t listen to your neighbor or co-worker. Like George Marker writes in his letter this morning, get the facts online.

If you are looking for a solid investment in real estate in Brevard County, Florida give me a shout at victoradamus@gmail.com and we will spend the time needed to find you the best investment.

Sunday Morning We Talk Real Estate and Politics

2011-07-31T09:03:00.000-04:00

It's Politics, This Week, Because . . .
our Dysfunctional Congress Won't Budge

If you’re looking for ways to put this debt ceiling crisis out of your mind, come to Brevard County, Florida where we have bikini contests; surfing exhibitions; a Zoo filled with real exotic animals, not the wasteful kind we find on Capitol Hill in Washington, D.C. And basically have some fun while America in Crisis handles its’ own mess by elected people who don’t have a clue how to govern. Your time is better spent hitting the surf and enjoying the beaches.

I’m glad I’m down here in Florida and not up there bearing the responsibility of raising the debt ceiling again so the country can meet its’ obligations like we always have done. The Taliban type faction called the “Tea Party” that refuses to act for the first time in our nation’s history doesn’t impress many people and you have to wonder if the people they want to hurt aren’t in their Districts.

They have NO senior citizens? NO children who need nutritious food served in schools across this great nation? NO one disabled that has special needs? And NOT one veteran who paid the price by losing an arm or both legs in a Republican war and depends on his disability check? People who lost their jobs? They have no one on this list in their District?

Hard to believe, isn’t it?

It’s no wonder this weekend is slow in Real Estate. No wonder banks are telling their employees to take vacation time. In just a few days, if the Congress doesn’t act, America will be in default on its’ debt. A debt made by the very Congress that doesn’t have the money to pay their bills. And just like a person who has lost his job, can’t pay VISA or MasterCard, the interest on the debt will continue to accrue on a daily basis. But that isn’t the case here. No one has lost their jobs. In fact, the Congress of the United States gets paid very well when you look at the fact that the average American makes $40,000 a year. The average American pays more in taxes each year than GE or Big Oil. This inequity will stop someday but when and where is the big question. Rich people can afford to buy politicians and that likely won’t stop. Politicians want to be bought and they want to keep their seats in the House so they rely on big businesses to keep their jobs secure. . . but only if they return favors, vote for what big business wants.

Oh there used to be honest politicians, Senators and Congressmen and women with ethics, around the days of Truman and John F Kennedy. But those days are gone.

So it’s time to have fun this weekend, get some heart healthy exercise and prepare yourself for some rough times ahead, worse than the previous recession.

When the debt ceiling isn’t raised and America is on the brink again, banks won’t be offering to help lend America the money to fix the debt like the Treasury, you and me, helped them in 2008. . . NOPE . . . America hits the wall again and the American people are the ones who will suffer.

This Year's Event is Sponsored by Petty's Market

2011-07-27T11:28:00.000-04:00

Hunderds of people look on as a endangered loggerhead sea turtle equipped with a satellite transmitter heads toward the Atlantic Ocean during last year's Tour De Turtles. The 2011 events kick off this weekend. FLORIDA TODAY 2010 photo

Petty's Meat Market on Wickham Road just north of the Pineda is the gourmet place in Brevard County, Florida for meats and treats. It's worth the trip to shop there. And so is heading to the beaches for the Tour De Turtles. There is so much to do here in Florida!

Sunday Morning We Talk Real Estate

2011-07-24T09:46:00.000-04:00

Seller Financing is More than Just on the Horizon

As sales creep along nationwide, more and more stories in the main stream media, point to banks sitting on trillions of dollars and not lending as they use to which is causing the slowdown in a major piece of the economy. You can’t force them to create a product that is flexible for those with strong incomes but little funds to put down. The age of the credit card way of doing business is pretty much dead. Credit card abusers are matching up with people in foreclosure but not with banks writing off huge sums of owed money. Credit card defaults are small potatoes. And yet a 30 day late can be the difference between getting a house loan or not getting one.

So along comes “seller financing”, a cover for the traditional lenders not lending or failing to lend based on wanting more money down that the buyer doesn’t have. Seller financing has its’ pitfalls for sure, but it also has advantages that ride high on that list of trading off a property you no longer want to creating an income stream over a reasonable period that can help you spruce up that next property you buy. Some sellers are getting top dollar for rental properties in good condition and collecting more than the rents because they also don’t have to pay a condo fee or taxes or insurance. The going rate is 6% but that is still low considering the risks. And buyers with strong incomes are putting down as low as 5% and paying their closing costs to take title to the property. They own it.

No one should enter into a seller financing agreement without the advice of a Realtor or Real Estate Attorney.

Sellers considering financing the transaction should rely on a credit check and background check without making any commitment to sell. A high credit score and no judgments chasing them plus the current payment history on their rental will give the seller a confidence in moving forward. Last on the list is proof of income and a bank statement showing their life style habits, where the income goes each month. A prequalification statement from a bank holding the downpayment is a good idea too. You want to lock those funds when the purchase agreement is signed.

For the person or persons buying it is wise to get an appraisal which can cost up to $400.00. It’s worth it if the appraisal comes in low and really good if it comes in over the agreed to sales price. Instant equity! The Buyers should ask for a home inspection and if refused by the seller, walk away from the transaction. This would indicate the seller has something to hide and it’s most often structural. Something costly. A broken ice maker will not kill the deal.

So if you are experiencing turn downs at the bank for the home of your dreams in a price range you know you can afford, have a Realtor search the MLS for similar properties offered by owner financing. It may be the ticket that works in this ongoing recession.

If you are looking in Brevard County, Florida give me a shout at victoradamus@gmail.com and we will spend the time needed to find you the best investment.

321 639 8806

Final Landing of Shuttle Atlantis 6 AM EST

2011-07-21T08:37:00.000-04:00

This is who we are on the Space Coast. Now we await the Saturn V rocket which will be designed to carry Astronauts to the International Space Station, see Shuttle docked to the space station below.

Shuttle Endeavor docks at the Space Station. Today marks the end of a 30 year Shuttle program here on the Space Coast in Brevard County, Florida.

Now Even Jumbo Loans are Going Down

2011-07-19T06:37:00.000-04:00

People of wealth will start to feel the heat since the jumbo loans, based on strong incomes, fueled the upper end Real Estate market. The Banking Industry still can't make a come back. It's worse off than the auto industry was.

NEW YORK – The private market is ready to fill the void when conforming limits on government-backed mortgages at Fannie Mae, Freddie Mac, and the Federal Housing Administration expire at the end of September 2011, Federal Reserve Chairman Ben Bernanke told the House Financial Services Committee on Wednesday.

On Oct. 1, the maximum mortgage amount in high-cost areas is set to drop from $729,750 to $625,500.

“As far as Fannie Mae and Freddie Mac are concerned, there is a tradeoff there between supporting the higher-priced homes and weaning the housing finance system off of unusual limits it was put under during the crisis,” Bernanke told the House committee. “I understand the private sector is taking at least a significant number of the jumbo mortgage market but at a higher cost.”

The National Association of Home Builders has said that it fears more than 17 million homes nationwide will become ineligible for more affordable federal funding when the loan limit expires.

While Bernanke acknowledges that jumbo loans will likely come “at a higher cost,” he said that needs to be kept in perspective.

“Mortgage rates on conforming loans are already near historic lows, hovering around 4.5 percent on the 30-year fixed,” he said.

Filed from the FAR.

Sunday Morning Real Estate Comment

2011-07-17T09:34:00.000-04:00

Oceanfront Condos Hold Steady She Goes

Some interesting statistics Realtors rely on are those found in the Multiple Listing Service (MLS), an online software program for members of our local association which tracks all properties for sale, for rent, sold, and expired and we have two associations here in Brevard County, Florida that share the same system.

For example. If I want to provide a customer with information on ocean waterfront condos I can track the sales progression as far back as 2009. From June 2010 to June 2011, approximately 30 units a month have changed hands and again last month 28, few being in the foreclosure category. This is particularly interesting because the units that traditionally get the high end of appreciation each year are oceanfront condos, then riverfront condos, then open water single family homes, and finally canal homes that have been remodeled or built new after 2002.

What’s nice about the Atlantic Coast is when everything dropped in the bucket, so to speak, oceanfront condos were selling for upwards to 57% off the normal prices set long before the big boom. New construction offered at close to a million dollars sold for $660,000 and only recently have we seen the prices edge upwards. So 30 units sold each month is a shot in the arm for our market and with the return to schools coming up next month the activity in all markets should start popping. The back to school buyers can’t wait.

I think oceanfront condos for retirees or military families from the Air Force Station down to Patrick and south of Patrick are the best investments if a person plans to hold ownership three to five years. The condos are basement prices, the ocean views are tempting and even the smell of the salt air is worth considering if your plans are set for the long haul. Leasing is also an option as some units that were leasing for $2000 are now taking $1500 a month and there are a few lease options out there to consider. I wouldn’t lease a fixer but I would buy one if the price is right.

So if you are bargain beach hunting this summer and need some assistance, I’d be glad to show you my picks on the ocean, on the river, even some canal homes that are priced way below market value.

If you are interested, give me a shout at victoradamus@gmail.com and we will spend the time needed to find you the best investment.

321 639 8806

The Reason The Middle Class is Stuggling to Come Back

2011-07-12T09:04:00.000-04:00

Sunday Morning

2011-07-10T07:07:00.000-04:00

Godspeed Atlantis!

One of the luxuries enjoyed here on the space coast in Brevard County Florida was watching the Shuttle program launches. And after 20 years of being apart of the NASA family it’s a heart breaker to see the final launch Friday of the good ship Atlantis. My wife sums up our true feelings of being part of the wonderful Space Coast family here:

During our nearly 20-years of living on The Space Coast, we've had the amazing experience of viewing dozens of shuttle launches up close and personal. For us, this was not a once-in-a-lifetime event, but a thrill lived many times over, and often shared with family and friends. We've viewed launches from the VIP site on the Banana River, from the press viewing stands at KSC, from the beach, from the riverfronts and from our own front yard. If one is honored to be at the VIP site, as we were on many occasions, you travel by NASA bus to the site, several hours prior to launch. We have waited there in the cold chill of a January night. We have waited there in the hot and humid July mid-day sun. You watch the countdown clock. There is always a hold at 9:00 minutes and counting. Are all systems go? The countdown clock begins again. At 3:00 minutes and counting, you'll hear the voices from Mission Control: Go, Go, Go. Your heart beats fast. You want to hear only "go", you never want to hear the word "scrub". Because all it takes is one "scrub" and back to the bus, to return yet another night or day. But return you do, always. For whether it is a nighttime launch, or day ~ whether against the rising sun over the ocean, or against the reflection of a setting sun from the west, each and every launch is spectacular. The engines fire. The smoke rises. The earth shakes beneath your feet. You cover your ears against the sound blasts. Then, lift off. The smoke plume curls up through the sky. Farther and farther it travels, faster and faster it goes. You watch for the separation of the rocket boosters, which fall away and land in the ocean. Safe. Another safe launch. An awesome spectacle, an amazing feat by humankind. We have cheered with a large crowd of young Japanese women when the first female astronaut from Japan rode off into space. On one bus ride back to the center (at 4:00 am, no less), we shared passing bottles of vodka from Russian visitors who had just viewed the first shuttle launch of a Russian cosmonaut joining with our astronauts. We have met people from all over the world, as they come from far and near to experience this. Some had a personal interest in special payloads that were on board the shuttles. I remember two in particular: a young man, a musician, had designed and created a very special guitar -- it would travel on board the shuttle that day, to be played by an astronaut once in space. Could we, as humans, make music in zero gravity? If in future times we were to live in outer space, we would want to have music as part of our lives -- would it be? Could it be? Sadly, I never learned the results of that experiment. Another I recall, was an elementary school teacher from Alabama. Her class one year mailed a Teddy Bear to another class of students in another part of the world. They in turn mailed Teddy on... and on... and on. For many years, through many classes of students, Teddy had traveled the world. Yes, the same Teddy... greeting hundreds and hundreds of students over the years. Now this teacher was retiring, and today Teddy would travel out-of-this-world. His final journey, likely watched and cheered on by thousands of students worldwide who remembered Teddy. Being a part of this over many years has been rewarding. Our space program has brought so much to our everyday lives in the fields of medicine, and technology, and food production, and automotive safety. Many payloads were scientific experiments, many were just to learn "can we make music" or let's honor Teddy. But the list of developments that improve much that we come in contact with each day is endless, and yet few are even aware that all these advancements are a direct result of space exploration and the shuttle program. What President Kennedy envisioned many decades ago, came to pass. Now the shuttle program is winding down. It is a sad time for those of us who have watched and been inspired by the years of achievement. It is a sad time for the thousands who were part of the NASA, KSC and the contractor workforce as they face an uncertain future. It is a sad time as we pause and remember Challenger and Columbia and the brave souls lost on those flights.

To all those who have been a part of space history, we thank you!

Atlantis and her crew, Godspeed.

Our two year old grandson watches his first Shuttle launch, which is NASA's last launch, from the Indian River in Cocoa. You can barely see the fire in the sky from this angle where we watched the lift off.

Cocoa Village

2011-07-09T09:23:00.000-04:00

This is the Clubhouse for 115 Indian River Drive. It's walking distance to Cocoa Village which is a premier place of fine dining and shops and waterfront park.

The dock is free to owners only and the people who take a slip divide the monthly utilities by the number of boat owners in the dock. You can see the Lanai at the end of the dock. Great for watching Rocket and Shuttle launches from the Cape.

These units face the Indian River. The complex is so popular even though it was built in 1977. It's the location and the prices that draw Buyers with and without boats to this lovely location. Prices for 2 bedrooms and 2 baths start from $95,000 to $150,000 with a water view. Unit 204 in the Tower which comes with underground parking is the only one on the market for $249,000. This is just a nice place to live and I love the idea of walking to the Village.

See It With Me

321 639 8806

Best Buy in Charolais Viera, Florida only $699,990I

2011-07-05T06:48:00.000-04:00

Grand Estate in Charolais, Rockledge, Florida

Entrance to 5 bedroom pool home

Pool, Spa, Lanai, Screened in, Private

Huge Kitchen

Private covered Lanai

Great for Entertaining

I remember when they first broke ground, pool homes in Charolais were selling in the million dollar range. Some still are. This one is priced right and ready for new owners. It's only two years old. It's on the Lake; has a three car garage; hard surface countertops in the kitchen; 90 degree doors; sitting room off the Master; summer kitchen; Wet bar and patterned tile. It's a MUST see!

See it with ME

321 639 8806

Sunday Morning Real Estate

2011-07-03T05:44:00.000-04:00

"Prices Couldn't Be Better" Here in Brevard

What can you buy for $250,000 here in Brevard County, Florida? Prices couldn’t be any lower as most economists dealing in Real Estate predict we are at the low end of the scale nationwide. No one knows when that pendulum will swing back to the higher side. But when it does, tons of lookers will have wished they had bought the house of their dreams for less.

Today we have condos on the Indian River, 3 bedrooms, 2 baths for under $250,000, even the newer ones are selling low. So if a riverfront condo is in your plans for investment or retirement, now is the time to buy. Two bedroom, two bath condos with an ocean view are under $250,000 and some even less are fixer uppers, a good buy too, because you can put your thumb print on it, make it look the way you want.

There are probably over a hundred single family homes under $250,000 for sale, some with large acreage, some in gated communities, even a few on canals that lead to major waterways. I saw 5 bedrooms, 3 bath homes for sale in the above price range and 3 bedroom, 3 baths homes even lower many built after 2002.

Our prices can’t be beat. Townhomes where an owner can walk to the beach are selling for under the $250,000 price tag. Some have large balconies off the second floor Master so you can see and hear the ocean. Some are four bedroom and 2 and a half baths; others are three bedrooms and 3 and a half baths. I couldn’t show you everything we have under $250,000 in one weekend. These bargain basement prices, more house for the money, are going up slightly, which is good for a healthy economy while at the same time interest rates are still under 4%.

If you want to see what is in a specific location, here in Brevard County, Florida give me a shout at victoradamus@gmail.com.

321 639 8806

Home Sales Price on the Rise in Brevard County Florida

2011-06-22T14:53:00.000-04:00

Existing home sales in Brevard County showed signs of strengthening in May, according to a report released Tuesday by Florida Realtors.

Both the number of homes sold and the median sales price were up after both dropped sharply earlier this year.

Last month, there were 662 existing single-family homes sold in the county, up from 617 in April and 637 in May 2010. Sales dropped as low as 460 in January.

The median sales price was $110,400.

The median sales price was $110,400. While that was down from $115,600 in May 2010, it was up slightly from April's $109,200 and represents the third consecutive month of increases. The median sales price had dropped to $87,700 in February, the lowest level in more than a decade.

There were 174 condos sold in Brevard in May. That was down from 194 sold in April, but up from 144 sold a year ago. The median price was $98,600, up from $95,800 in April but down from $115,400 in May 2010.

The recent sale numbers are the latest sign that the housing market might be nearing the end of five-year slide. The number of new foreclosure filings has fallen steeply in recent months, and the inventory of homes for sale has been shrinking.

For More Click on FLORIDA TODAY

Sunday Morning Real Estate

2011-06-12T11:36:00.000-04:00

Welcome to the Space Coast

Unique to Brevard County is our attrition rate which hasn’t changed since 1989. There are as many people passing on here in Brevard as coming down from out of state to take their place. The top ten states that people come from to join us in Paradise are: New York, New Jersey, Massachusetts, Virginia, Georgia, Pennsylvania, California, North Carolina, Ohio and Maryland. We also get a few Michiganders too.

Our population has been steady through the past 20 years of housing 200,000 to 205,000 people who live here year round. We have 33,600 in the work force that are professional and business services; 30,600 in education and health care; 25,500 in retail trade; 22,400 in manufacturing; 20,200 in leisure and hospitality; 11,000 in construction, mining, and logging; 5,800 in wholesale trade; 7,400 in financial activities; and 5000 in food and beverage.

A good thirty percent of our population is retired people living here in the tropics to play year round. Our retired folks live mostly on the coast: Cocoa Beach, Satellite Beach, down to Indian Harbor Beach. Others live on the mainland in cities like Palm Bay, Rockledge, Viera, Cocoa and Titusville. A few live far north in Mims.

We are known as the Space Coast because of the amazing Shuttle Program that has launched hundreds of missions into space from the Kennedy Space Center. The last launch which ends the program after 20 years is in July. Thousands of spectators are expected to pack our shores and hotels for the final launch.

If you are interested in looking at property, whether beach condo or a riverfront home there are plenty available to see. Brevard County, Florida is a wonderful place to live and retire to.

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

OR NEED MORE INFORMATION ABOUT THE AREA, PLEASE CALL VICTOR

321 639 8806

This Sign Could Be Just About Anywhere in the U.S.

2011-06-08T15:26:00.000-04:00

Found at http://www.stpaulrealestate.com/

Florida's Consumer Confidence Stays Level for First Time in Months

2011-06-04T16:57:00.000-04:00

GAINESVILLE, Fla. – Consumer confidence among Floridians remained at 68 in May, ending three consecutive months of decline, according to a new University of Florida (UF) survey.

“While the overall consumer confidence index has declined steadily over the last several months and remained flat this month, there has been some uncharacteristic volatility in the individual components,” said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. “Of particular interest are the changes in perceptions of personal finances. This month, there was a decline in perceptions of personal finances now compared to a year ago, while expectations of personal finances increased from a record low in the release last month. We attribute most of these changes to fallout from the Florida budget.”

Three of the five index components increased or remained the same. Perceptions of respondents’ personal financial situation expected a year from now experienced the largest increase, rising three points to 76. Perceptions of U.S. economic conditions over the next year (66) and perceptions of U.S. economic conditions over the next five years (72) remained the same.

Confidence in purchasing big-ticket items such as cars and appliances fell one point to 74, and perceptions of personal financial situation now compared with a year ago fell four points to 52.

Although April brought some positive signs of recovery, McCarty said the economic environment is still mixed. Unemployment dropped to 10.8 percent – the lowest in Florida since 2009 – but the rate is still one of the highest in the country. Median housing prices rose to $132,700, but McCarty said prices could decline as a backlog of foreclosures moves through the courts. Gas prices have declined the past two weeks, but should rise again with the summer travel season approaching.

“Looking ahead, Florida is once again at a crossroads,” McCarty said. “It is critical that the job situation in Florida continues to improve. Although there have been gains associated with a recovery in tourism, there are several thousand layoffs looming in the public sector and associated industries. These will likely show up in the unemployment rate for July or August. This will likely keep consumer confidence at relatively low levels in the upper 60s.”

The research center, a part of the Warrington College of Business Administration, conducts the Florida Consumer Attitude Survey monthly. Respondents are 18 or older and live in households telephoned randomly. The preliminary index for May was collected from 403 responses.

The index is benchmarked to 1966, so a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2; the highest possible is 150.

© 2011 Florida Realtors®

Home Sales Hint at Recovery

2011-05-22T15:13:00.000-04:00

by JOHN MCCARTHY
Florida Today

After a nearly six-year downslide, is Brevard County's housing market ready to make a turnaround?

Some signals point to at least a slowing of the decline, and real estate agents talk about a market that is becoming re-invigorated.

"We've seen a marked increase in sales," said Ray Craig, president of the Melbourne Area Association of Realtors.

Sales are indeed up. Over the past 12 months, 6,693 single-family homes were sold in Brevard. That was up from 5,734 in the same point of 2010, 5,464 in 2009 and 4,827 in 2008.

And there are other positives:

• Year-over-year price declines aren't as steep. The median sales price of houses here in 2010 was $105,900, down 9 percent from 2009. The percentage drops in 2009 and 2008 were 24 percent and 21 percent, respectively.
After 53 consecutive down months, three of the past six months have seen median price increases compared with a year earlier.

• New foreclosure filings are down sharply. Just 212 foreclosure suits were filed in Brevard in April, the lowest monthly total since October 2006. In the first four months of the year, 951 foreclosure suits were filed compared with 2,881 during the same period of 2010.

• Fewer new homes are com ing onto the market. In the past 12 months, the local Multiple Listings Service has had 6,596 new listings, according to Craig. That's down from 9,104 at the same time last year. Fewer homes for sale leads to higher prices and shorter sales times.

"It looks like we're poised for steady growth," Craig said.

But some worry that low consumer confidence, problems attaining mortgages and, maybe most potentially damaging, high unemployment, could extend the sluggish market for another year or two before there's a true rebound.

Persistent joblessness has the potential to stall any recovery in the housing market, both locally and nationwide.

READ THE REST

FROM FLORIDA TODAY . . . LOVE BUGS DRIFT ACROSS FLORIDA

2011-05-09T15:31:00.000-04:00

ROCKLEDGE — Linked in male-female union, legions of lovebugs drifted in droves around U.S. 1 vehicles Sunday morning at the Rockledge Square shopping plaza.

Splattering across windshields. Hurtling into headlights. And smearing across bumpers, grills, radiators and hoods, leaving splashed white smudges that bake onto vehicles in the sunshine.

Lovebug season has seized the Space Coast. The bane of motorists, a boon to car washes, plecia nearctica mating frenzies occur for roughly four weeks from late April to early May.

Floridian cleaning the love bugs off his car.

From the Florida Realtor

2011-04-17T14:39:00.000-04:00

Fla. leads nation in potential job growth

MIAMI– According to a Wells Fargo report, Florida is No. 1 in potential job growth once the state shakes off lingering effects from the recession.

The study looked at regional competitiveness – the factors that might lead employers to create jobs locally. To compile results, Wells Fargo analyzed 20 years of employment data and growth trends. It then projected future growth. While an expected boost in tourism post-recession played a part in Florida’s ranking, Wells Fargo also cited an expanded diversity in the state’s job market, such as the Scripps Research facility in Palm Beach County.

“The influx of new medical research facilities will help reinvigorate … growth in Florida, helping further diversify the state’s economy,” according to the report.

The study found Florida competitive in 22 industries. Georgia – No. 2 on the list – had 21. Wells Fargo considered traditionally white-collar industries as Florida strengths, including professional services, insurance and finance.

Sunday Morning

2011-04-10T12:19:00.001-04:00

Welcome to Brevard County Florida

I do believe that Brevard County, Florida is one of beachgoers best kept secrets. Affordable housing can be purchased river to ocean; condos with up river views on the intercoastal waterway; direct ocean units, spacious, priced well under $300,000; and fabulous entertainment, golfing, tennis, bike trails, you name it, whever you are you are not far from Disney and the parks. I would compare our stretch of beach to any on the Florida coastline as being perfect for nature lovers at Playalinda and for surfers it’s Satellite Beach, people who want the ocean view and fine food, it’s the Pier in Cocoa Beach.

The magazines you see on the right promote our community of fun and relaxation and looking at the printing quality of each, one printed by our local daily newspaper, Florida Today, and the other a fancy four color product published in Melbourne by SCB Marketing, advertisers are more than willing to share the cost to show snow birds or visitors year ‘round the benefits of living here. Fine food restaurants up and down the beach, on the mainland, in Cocoa Village can all be found in these books. I doubt the printing industry is really being forced out of business by the internet with the type of quality these printed magazines reflect. It’s a nice show piece to hand to someone from out of town or mail to people anywhere in the world.

And that’s just what Realtors are doing. Giving these books to potential prospects all over. Then follow up with email and answer important questions about a price range; school district; distances from here to there. A couple from Austin, Texas visited last week and said they came over from the parks; had lunch in Cocoa Village; and now were heading seven miles east to the beaches for the rest of the day.

I believe that once you discover the secrets of Brevard County, Florida you’ll want to share in all the fun and laughter at the beach, the parks, our world famous Port, great fishing and boating, and did I also mention the numerous hotels? You’ll always find a place to hang your hat here in Brevard County.

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

OR NEED MORE INFORMATION ABOUT THE AREA, PLEASE CALL VICTOR 321 639 8806

Not Funny!

2011-04-03T14:09:00.002-04:00

Sunday Morning We Talk Real Estate

2011-03-27T10:17:00.000-04:00

Looking for a Home . . . .

I’m not going to report the Colonels name in this opinion piece but for a guy age 40 who can verify his fighter pilot status, as impressive as that is and impressive as his current assignment is at the Air Force Station on North Merritt Island, driving 51 minutes to work is too much for him to handle. I kid you not. He gave up the home of his dreams on 2 acres because it was too far from work.

WOW!

Did that do me for the weekend or what? We are talking structure built like Fort Knox; granite countertops; a gorgeous fireplace in the family room, like “who needs it” he said living here in Florida; a three car garage; double shower in the Master and of course, I could go on and on. You get the picture. He gave up all that because it’s on the mainland and 51 minutes by all three of his calibrations, even GPS, and boy I did everything I could to shave 10 minutes off that clock but it wasn’t to be. He did NOT buy his dream home. And the one he looked at, closer to work, on Merritt Island was almost the same square footage, less wooded land, no fireplace, and cost $100,000 more. It’s also six years older than the home he fell in love with in Cocoa.

I’m still shaking my head.

For those of you who are asking, what did he buy? The answer is nothing . . . yet. He has talked about renting a direct ocean unit, much closer to work, almost on top of the AF Station, close you know, within 15 minutes by car. So I asked if he wanted to look at fancy ones, a Penthouse going for a mere $4500 a month and he said “No”. But, but, but it’s soooo close to work!

I’m guessing we’re still not on the same page.

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

CALL VICTOR 321 639 8806

Boy The Foreclosure People Bit Down on This Line Big Time

2011-03-24T17:51:00.003-04:00

BEST PRICED HOME ON LANSING ISLAND $1,049,000

2011-03-20T10:42:00.000-04:00

Engaging Curb Appeal

Summer Kitchen, Pool, Nature Views

Private Walkway to Navigable Grand Canal

This elegant Mediterranean mini mansion is located on the Grand Canal, boaters can be on river to ocean from this location in minutes. Home has faux finishes; gourmet kitchen with granite countertops; Thermador gas range; definitely designed for entertaining. Find this home under the fun catergory of paradise living in Florida. It has the best of everything on almost a full one acre. The Summer kitchen and the second floor screened porch has views of the deep water Grand Canal. There's more to write but I'll leave it with the 3 car garage and the rest to your imagination. Let your imagination run wild. The price is right!

Call Victor to See

321 639 8806

Sunday Morning Comment on Real Estate

2011-03-20T08:14:00.000-04:00

Looking for Investors for Veterans Village

The photo above is that of the frontage of a possible 20 acres of vacant land in Cocoa, Florida. The proposal to find investors to develop it has ranged from townhomes, to duplexes, to half million dollar properties facing Mudd Lake off the back property line to a Veterans Village. We went with a community for returning Veterans.

The original architectural designs by investors from Hollywood, Florida show 13.6 acres of developed lots measuring a quarter to one third acre, all patio homes, affordable structures, future homes for returning veterans and their families.

Unfortunately, the project was short lived because of a major player being diagnosed with cancer but his dream, is our dream too, so we on the listing side are still seeking investors who would like to form a group to make this a well designed community for all veterans.

It’s location, across from Cocoa High School and bordering the city’s Mudd Lake Park in the back, is unique because it makes it easy for the veteran to get around. It could be gated, have a community center, and a shuttle service to the VA Clinic which is only 20 minutes away by car. This is also the perfect project for this acreage because the new VA Hospital in Orlando is only 45 minutes away. For recreation, parks and the beach is just a few minutes east.

Adamus Realty Group has been talking to investors for over six months now and it may seem like in this Great Recession no one has the money to develop a property this size but there are people of wealth out there who would like to support returning veterans. I need to find those folks.

This development is unique too because the homes would be sold to a captive audience of veterans waiting to find a custom patio home that they help design, based on their special needs,up front, with five floor plans to choose from and alter.

This is all inspiring which is why we donate much of our time on a weekly basis to seek out the people who might be interested in making a few bucks on their investment while helping special needs veterans returning from Iraq or Afghanistan or older vets from Vietnam and WWII. They are special neighbors, a big part of the American family, because they put their lives on the line for all of us.

To me, it is a privilege to work on this project and for the investor an honor to get this Veterans Village from the drawing boards to the end user, a veteran in need.

For a proposed plat of the project and other information please contact me at victoradamus@gmail.com and I can email or overnight the package to you. You can always call to discuss the project and if you are a veteran and have a group that wants to help, please call.

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

CALL VICTOR

321 639 8806

Republicans Sitting Under the Dumb, Dumb Tree

2011-03-18T16:49:00.002-04:00

News From the Associated Press

2011-03-16T18:56:00.000-04:00

The Federal Reserve is sticking with its $600 billion Treasury bond-purchase program to strengthen the economy as Japan’s nuclear crisis raises worries around the globe.

The Fed made no changes Tuesday to the program. The decision was unanimous. The Fed says the economic recovery is on “firmer footing” and the jobs market is gradually improving. But the housing market remains depressed.

The Fed downplays inflation risks. It said higher energy prices is increasing inflation, but that the pickup in prices will be “transitory.”

The Fed made no mention of Japan’s crisis, which caused stocks to plunge. But the Fed’s stimulative policy would help the U.S. economy withstand widening economic risks from home and abroad.

Facts Came From the Most Recent Florida Real Estate Magazine

2011-03-14T08:37:00.000-04:00

Cruise Lines in both our Port here and in Miami are making big bucks.

Tourism has Come Back to Florida.

If You're Looking for a Place in the Sun

Call Victor Adamus

321 639 8806

Sunday Morning Comment on Real Estate

2011-03-13T10:18:00.000-04:00

I don’t really know why I write about a failing institution, like Bank of America, but the media has reported so many stories of this bank’s failures, to include a multitude of bad paper investments in real property that for me as a 25 year customer to jump all over them, although just, doesn’t give me a good feeling.

On the other hand, Bank of America just threw me under the bus last week by freezing future credit lines for me and my corporation, so I thought I’d share some thoughts as to why a bank would trash their good paying customers of 20 some years when they have plenty of people who gave up paying them when everything hit the wall in 2006.

The bank has it’s new rules and this bank is way under water so throwing us out with the trash means nothing to their bottom line, in fact, nothing right now can even help to juggle their bad debts and present their portfolio as anything but a total failure.

Banks as a whole have basically turned into vampires. They have handled the mortgage crisis in a manner that is often outright fraudulent, and a big part of their business model is to bleed their customers dry with fees.

To my shock and surprise I find even sociopath Glen Beck is getting into the hate BofA rant:

"When corporations like Bank of America don't pay their fair share of taxes, we have to 'cut' teachers, firefighters, and public servants."

"Do you pay your taxes? So do we. Why don't corporations pay their fair share, just like everyone else?"

"Bank of America is Bad for America. Bank of America pockets Billions in profits and bailouts, but $0 in American taxes - that's immoral and un-American."

Tax avoidance is immoral. If corporations paid their fair share, just like the rest of us, we could solve every state budget crisis without firing one more teacher, we could solve the federal deficit without touching Social Security, and we could put America back to work and drive down unemployment. Wisconsin would not have a "budget crisis" if Gov Walker hadn't handed corporate tax dodgers more tax breaks and used public workers as a scapegoat for the problems he created.

So Glen, what happens if people like myself, upset with getting our credit lines pulled, stop paying the monthly usury on the cards? What happens then? Doesn’t the bank still have the upper hand to kill off our credit scores, even though it’s also carrying over a trillion dollars in bad debt itself due to foreclosures, 7 million properties sitting on somebody’s desk? The whole system is broken.

It's the Bank of America that wants the consumer to pay on existing credit cards they can’t use anymore but they refuse to pay taxes on banking property in states where they have a community interest. They only have an interest in making money off the poor morons who stay as customers of the bank, knowing the bank is weak in its’ portfolio and could go under at any time. It wouldn’t take much for a few investors to demand their money back and BofA would be taken over by the Feds.

So much for this rant on banking but you have to admit it was the banksters on Wall Street that got us into this mess and it should be up to them to get us out of it. Good luck with that!

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

CALL VICTOR 321 639 8806

Kitchen Tip if You're Getting Ready to Sell from FAR

2011-03-09T15:32:00.000-05:00

Dressing up the kitchen with lighting. An affordable way to upgrade a kitchen is just by switching out the lights, designers say. For example, hand-blown glass shades on pendant lights, contemporary drum shades and chandeliers quickly update a kitchen. Layers of light continue to be popular, such as with a ceiling lighting fixture combined with under-counter lighting as well as ambient lights behind a glass-front door, designers say. LED under-counter lighting and LED recessed ceiling lights are also popular.

You may want to also consider the age of appliances. If over 10 years maybe replace with stainless steel appliances which will really dress up any kitchen. VMA

Sunday Morning Comment on Real Estate

2011-03-06T08:01:00.001-05:00

There were already Two Americas before the Great Recession, but in the wake of that seismic disruption, those two continents have only moved further apart.

Chris Hayes, the Nation

It’s hard to find any one person in the middle class that was unaffected by the Great Recession. As Hayes writes above, a person who graduated from college, had no interest in a property, no mortgage, no debt, a feeling of normalcy has to have returned to that person’s lifestyle. Just the knowledge that you are not one of the people banging their heads up against a wall, filing for separation from your spouse, and giving up your kids at the courthouse steps, is enough to sigh “whew” they dodged that bullet. In fact, they did survive because they were young and in the right place at the right time.

These are the first time buyers we Realtors look for to help find a property at the bottom of the bucket and like the future people saw, who are now under water with mortgages they hoped equity would balance out in their favor, the new kids on the block expect a similar outcome. The housing market crashed. Dreams were crushed. People lost their good name, their credit scores went down, most of their credit lines were canceled and the future for them as cash consumers is just about now hitting home. In a credit worthy world, cash goes fast.

This Great Recession has also put people into debt that had no debt. Losing money in the stock market if you are on a fixed income may have forced you to make certain house payments on a credit card and start the vicious cycle of creating debt. As much as the banks will allow, that is. And while the bank borrows money from the taxpayers, you and me, they will cut back and only lend money to those folks who don’t need loans. It is a crap shoot type game when you think they are lending you your money as ill begotten as it was. And charging you interest.

I do see the Tea Party and most of their ill effects. People who used to be quite comfortable sitting under the dumb, dumb, tree are now in charge of the Congress. That’s going to lead nowhere. But maybe this idea of two continents moving further apart is what we need right now. A wide gap to show how important education is and why it is also important never to let Corporate America run the government.

We shall see!

IF YOU’RE LOOKING FOR PROPERTY IN BREVARD COUNTY, FLORIDA

CALL VICTOR 321 639 8806

Huge Price Reduction on this 11th Floor Unit $650,000

2011-03-03T16:40:00.001-05:00

Entrance

View From Balcony and Master Bedroom

Front of Building Facing Cocoa Village

11th Floor End Unit facing up river views that are worth the asking price, truly a home to come home to. This is a terrrific 4 bedroom, 3 bath unit loaded with luxury appointments, come live your dreams in Paradise.

Call Victor to See

321 639 8806

FAR Reports on Low Interest Rates

2011-02-26T15:30:00.000-05:00

Average rate on 30-year mortgage dips to 4.95%

Half (50%) of the experts polled by Bankrate.com this week expect mortgage rates to go down over the short term, with only 13% predicting an increase. The remaining 37% foresee little change.

The average rate on the 30-year fixed mortgage fell below 5 percent this week, as investors sought more Treasury notes amid growing tension in the Middle East.

Freddie Mac said Thursday that the average rate on the 30-year loan slipped to 4.95 percent from 5 percent. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed home loan fell to 4.22 percent from 4.27 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

Mortgage rates tend to track the yield on the 10-year Treasury note. It fell this week as investors shifted money out of stocks and into safer assets amid escalating violence in Libya.

Even though rates are two-thirds to three-quarters of a percentage point higher than their lows just three months ago, they remain at historically low levels.