WaterColor Real Estate, Rosemary Beach and Scenic 30A
Randall Bramblett and Grayson Capps kick off the 2012 Songwriter Series next Thursday, October 18th at Bud & Alley’s Restaurant in Seaside FL on 30A. Tickets are available onlineand are $25 in advance and $30 at the door. The show kicks off at Bud & Alley’s Rooftop Stage at 4:00pm and will conclude at 7:00pm. See you there!
U.S. rate on 30-year FRM hits record 3.36%
On Friday October 5, 2012 we saw a fresh record low for the second week straight on fixed rate mortgages. This low is leading more homeowners to refinance which could ultimately help jumpstart the economy.
The last week of September’s rate for Freddie Mac was at 3.4% (the lowest since long term mortgages began in the 50’s) but it fell even lower to 3.36% last week.
Fifteen year fixed mortgage dropped to 2.69% which was also down from the previous week’s record low of 2.73%. This product is very popular for homeowners looking to refinance.
The Federal Reserve starting buying mortgage bonds to help boost the housing recovery which results in falling rates. They plan to continue this program until there is significant improvement in the job market.
Resales and new construction sales are up from 2011 and home values are beginning to increase. Builder confidence level is up as well.
Mortgage applications jumped up 16.6% and 83% were to refinance existing loans (reported by the Mortgage Bankers Association).
When homeowners refinance, their monthly payments typically declines in turn leaving them more money to spend. “Consumer spending drives nearly 70% of the economic activity.”
***This article was published by The Associated Press, Oct 5, 2012
Amendment 4 will be on Florida’s ballot in November. The amendment will lower property taxes for new homebuyers and give a boost to the housing market offering a healthy new exemption for first-time homebuyers. The proposal will also help protect working families, small businesses and homeowners from unfair and unexpected tax increases by helping to stop “recapture”, a tax that increases property taxes even when property values decline. Lastly, the amendment will lower assessment increases on non-homestead properties from a burdensome 10 percent to a more reasonable 5 percent.
So in a nutshell –
The new homestead exemption in Amendment 4 is applied to your current homestead exemption so it will not replace the exemption in current law. It will not affect the current budgets of local governments because it is not retroactive.
For more information visit www.taxyourassetsoff.com
If you have not had a chance to check out the 2012 Coastal Living Magazine’s Ultimate Beach House in Rosemary Beach … you better hurry because the tour ends this Sunday, October 7th. Tickets are $15/person and can be purchased at the house which is located at 194 West Kingston Road in Rosemary. The home is available to view on Friday and Saturday from 11-5 and Sunday from 1-5.
Coastal Living Magazine chose beautiful Rosemary Beach for its 15th Anniversary Ultimate Beach House and the tour began after completion in late June 2012. Residential designer, Lew Oliver with Whole Town Solutions was influenced by the British Colonial architecture of South Africa and also found great inspiration in his design by Scott Merrill’s Town Hall in Rosemary Beach. The home was built by Stan Benecki with Benecki Homes, decorated by Erika Powell with Urban Grace Interiors and the impeccable landscape design was by Alec Michaelides with Land Plus.
For more information visit Coastal Living Magazine online.
*** All photos courtesy of Coastal Living website
Don’t miss out on the Seaside Community Yard Sale this weekend! The next one will not be until February. The fun starts at 8:00am Saturday morning (October 6th) and lasts until 2:00pm. There is even an air conditioned shuttle service from WaterColor Crossings Shopping center on Hwy 395 to make it easier for you to get to town center. Valet parking will be available on Smolian Circle. Over 100 venders will set up shop and there will be something for everybody.
***Photo courtesy of 30a.com.
I wanted to share a few market statistics for Real Estate sales on 30A. 2012 volume of sales is up $39,047,736 from January to October compared to 2011. 2012 Inventory is down 305 units from January to October compared to 2011. Sales Price vs. List Price from January to October 2011 is 91.67% compared to January to October 2011 which was 89.69%. Price per square foot is up from $262/square foot in 2011 to $281/square foot. The market is strong! Don’t miss your opportunity to own a piece of paradise. (All data take from the Emerald Coast MLS. For a full report of these stats please email me a kholder@thebeachgroup.com).
And because it is such a rainy, gloomy day on 30A today I thought it may help brighten the spirits with this photo 🙂
