PENINSULA BOYNTON BEACH DEVELOPER IN BANKRUPTCY

Waterbrook Peninsula LLC has filed for bankruptcy. Your editor recently visited the project and took these photos. The property is on a small peninsula with water on three sides, on Federal Highway and the intracoastal waterway. It was planned to have 40 luxury condos, 20 town homes and 10 large single family homes. Construction is almost complete on the condos and single family homes but town homes have been delayed. This bankruptcy, where National City Bank foreclosed on a $26-MM mortgage, highlights the down market conditions.

MOST EXPENSIVE BOYNTON BEACH HOUSE SOLD IN 2008 TO JULY 1ST

From January 1 to July 1, 2008, there were 4 homes sold in Boynton Beach for over $1,000,000. A 5 bedroom, 7 1/2 bath .68 acre 2-story home in the luxury equestrian 280-acre community of Equus, with 6179 living sq feet, built in 2007 was sold in March 2008 for $1,275,000. Originally listed for $2,099,000, the price had been lowered to $1,600,000. The home was on the market for 394 days. The property features horse trails, and a 30’x15’ pool. The 7000 sq ft Clubhouse has tennis courts and billiards. Typical Equus homes are European Country Manor estates with part stone facades and soaring ceilings. There is a 30-acre Equestrian Center abutting the community which offers upkeep, boarding and training of horses, Grand Prix Ring, Dressage Ring, Lunge Ring, Working Rings, Riding School and over 5 ½ miles of scenic riding trails.

GAS FOR LIFE ???

The Florida Lottery is offering an 8-week “Summer Cash” drawing across the state to tap into the public’s frustration with sky-high gas prices. Prizes include “Gas for a Year” and “Gas for Life.” Tickets are $5. Grand prize is $250,000.

GO FOR IT!

RESIDENTS GET “BOON” FROM PALM TRAN’S NEW BUS LINE DOWN A1A

Bus service returns in early July. Every Wednesday beginning July 9^th the Coral Link will make hourly trips up and down State Road A1A from 9:05 am to 5:35 pm. The route encompasses a north and south run between Lake Worth Road and Ocean Avenue and goes as far west as the Lake Worth Tri-Rail station and the Winn-Dixie and Kmart stores in Lantana, Walgreen’s, Lake Worth and Lantana libraries and post office branches in Lake Worth and Lantana. Connection points will be provided to larger, major routes. The bus will pull into condominium parking lots for easier access for residents and upon request, will deviate from its route by up to ¾ of a mile to access stores and medical centers. Riders can call up to 3 days in advance to schedule a route deviation, or inform the driver upon boarding. The drivers have been instructed to pick up riders anywhere along State Road A1A and stops will be posted along the way. Cost is fifty cents for all riders, and they must have the correct fare. No passes will be accepted, and drivers will not carry change. This FLORIDA DOT is funding this pilot program for its first year, and will continue it if successful. For information call 877-870-9849.

NOTE: YOU MUST MOVE OVER FOR STOPPED EMERGENCY VEHICLES ON HIGHWAY

With the primary objective to save lives of law enforcement officers conducting traffic stops, a statute passed during the 2002 session of the Florida legislature requires that motorists traveling on I-95 and other Florida highways with two or more lanes traveling in the direction fo the emergency vehicle “slow down” or “move over” and out of the lane closest to the vehicle as soon as its safe to do so, when approaching an authorized emergency vehicle stopped on the highway. Drivers are required to slow to 20 miles per hour less than the posted speed limit if 25 miles per hour or greater or travel at 5 miles per hour when posted speed limit is 20 miles per hour or less.

KEEP IN MIND WHEN GETTING A MORTGAGE, THAT YOU GET MORE PROPERTY FOR THE MONEY WITH A LOWER RATE.

FLORIDA ASSOCIATION OF REALTORS

Rates on 30-Year Mortgages Jump

Washington, June 13,2008 – Rates on 30-year mortgages jumped to the highest level in nearly eight months, reflecting increased concerns about what the Federal Reserve might do to battle inflation.

Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.32 percent this week. That was sharply up from 6.09 percent last week.

It was the highest level for 30-year mortgages since they averaged 6.33 percent for the week of Oct. 25.

Analysts attributed the big jump to increased concerns in financial markets that the Federal Reserve might be preparing to start raising interest rates in order to make sure that inflation does not get out of control.

MORTGAGE RATE TREND INDEX

Most experts (71 percent) polled by Bankrate.com generally expect mortgage rates to continue rising over the next 30 to 45 days. However, 21 percent expect rates to go down while only 8 percent predict no change over the same time span.

Perhaps NOW is the time to buy… more and more listings are showing price RISES, not DROPS. These are indications that there is an uptrend RIGHT NOW.

TEMPLE BETH SHIRA TO JOIN UNION FOR REFORM JUDIASM

Four years ago, five families formed Temple Beth Shira, West Boca’s Reform Synagogue, as a supportive congregation. Today more than 130 families are members of this multi-generational congregation, devoted to Torah, Jewish values, social action and community outreach. Members come from Boynton Beach to Coral Springs. On Friday, June 13^th the temple, in West Boca, will be officially welcomed into the Union for Reform Judiasm, the only West Boca Temple to be so affiliated. Attendance at the event is free. For more information call 561-912-1453 or go to www.TempleBethShira.org. The Temple offers a comprehensive religious school, bar and bat mitzvah training and small classes. There is an active sisterhood and brotherhood. Cantor Ellen Stettner is the spiritual leader. She served as Cantor of the historic Stephen Wise Free Synagogue, New York City, NY, from 1981 through 2002, and was the first person to have occupied that position. She also served Temple Israel in Melbourne, Florida, as interim Spiritual Leader, before accepting the position of Spiritual Leader of Temple Beth Shira in West Boca Raton. Services are held every other Friday at 7:30 pm at West Boca High School. For more information call 561-912-1453 or go to www.templebethshira.org.

$232-MM – NEW WORLD RECORD FOR RESIDENTIAL PROPERTY?

It is widely reported, but not yet confirmed that Lakshmi Mittal is ready to spend USD $232-MM on a home for his son, Aditva Mittal (pictured here), in London’s Kensington Palace Gardens neighborhood. According to Forbes Magazine, Lakshmi Mittal is the 4^th richest person in the world with an estimated personal net worth of $45-BB. Current property owner is Noam Gottesman, hedge fund manager.

BOYNTON BEACH “GOING GREEN”?

Incentives are being proposed to allow developers to build at higher densities and offer fast-track permitting and reduced permitting, impact and other fees. Two non-profit groups dedicate to environmentally conscious building would offer LEED (Leadership in Energy & Environmental Design) certification. They are the Florida Green Building Coalition and the U.S. Green Building Council. The developers would construct energy-efficient buildings, saving on water use, and incorporate other “green” features including using Earth-friendly materials. Developers are concerned that “building green” is costlier, perhaps 10% additional, and that cost would be passed on to the buyers. It may be that buyers find a “green” building more desirable despite a higher cost.

GREEN CAY NATURE CENTER ACTIVITES FOR THE CHILDREN

TERRIFIC TURTLES
Saturday, May 24, 2:00 pm, All ages, $3 per person (Children 4 & under free)
Meet some of our shelled friends, and learn about the different varieties of turtles and their lifestyles! Reservations required.

STORY and CRAFT TIME
Saturday, May 31, 10:00 am, Ages 3-5, $1 per child
Join us monthly as we read stories, have learning time, and make crafts about animals and other nature-related themes! Topics will vary each month. Reservations required.

All participants are required to sign a Program Participation Form for every program or tour.

Green Cay Nature Center is operated by the Palm Beach County Parks and Recreation Department and is located at 12800 Hagen Ranch Road in Boynton Beach.

FOR BEST GAS PRICES

http://autos.msn.com/everyday/gasstations.aspx?zip=&src=Netx

DELRAY BEACH SELLS 4.85 ACRES IN LAKE IDA PARK AREA

Development plans of the new owner, a site plan for which has been submitted to the City of Boynton Beach propose a single-family residential community. Owner National Land Company (NLC) owns an adjacent property, currently part of Lake Ida Park, with a canal separating the two properties. NCL was the only bidder for the property, “as is” with no contingencies, which sold for $1.6-MM. NCL must however maintain shoreline enhancement and the “littoral zone” (the area of land between the high and low water marks). The county retains mineral and petroleum rights, but does not retain rights of entry and exploration.

MORTGAGE CRISIS AFFECTS 2 MILLION AMERICAN CHILDREN

SOMETHING TO THINK ABOUT: Analysis shows a negative impact on the health, education, and well-being of children A new report released today reveals that an estimated 2 million children will be directly impacted by the sub-prime mortgage crisis as their families lose their homes due to foreclosures. As the first comprehensive analysis of how the crisis will impact kids, the report explains that this number will rise even higher when accounting for other populations, such as children being evicted from rental units that are going into default and those children whose parents default on conventional loans. These foreclosures will happen primarily during 2008 and 2009. The report, which includes state-by-state estimates of the number of children that are directly impacted by this crisis, indicates that foreclosures often result in disruptions to a child's education, as well as issues relating to their physical and mental health. Moreover, behavioral problems are more likely to arise in children who lose their homes, as positive peer relationships disintegrate when children are forced from their neighborhoods. The report, entitled "The Impact of the Mortgage Crisis on Children" can be found at http://www.firstfocus.net/pages/3401/. In addition, the report finds that the physical and mental health of displaced children can be severely compromised, as families losing their homes are less likely to have money available for items such as health care and health insurance. Children impacted by the mortgage crisis are likely to experience excessive mobility and as a result are only half as likely to be proficient in reading as their peers. And, they are much more likely to be held back and eventually drop out of school. Children forced from their homes experience behavioral problems, such as increases in violence. Due to the increasing number of foreclosures, school districts across the country are experiencing increases in the number of homeless children entering their classrooms, many of which can be attributed to the mortgage crisis.

HOUSING PRICES PREDICTED TO GO UP 20-30% IN 5 YEARS

Association of Realtors Chief Economist Lawrence Yun recently said of an area that was hard hit by the housing downturn, that “the worst conditions in the Tampa market may have already passed… I think the second half of 2008 will be better. But if I look at the long-term perspective, five years from now, comfortably, one can say home prices in this region will be 20-30% higher.” He also said that while sub prime mortgages made up only 9% of all mortgages in the US, they made up 53% of US housing foreclosures, dragging down the housing market. Yun noted, “There’s a change in the mood over the last couple of weeks,” and that mortgage rates are at near historic lows, business spending is strong and corporate profits are up, all good economic signs. No doubt this is good news for Florida’s east coast too. According to an article in Realty Times, Palm Beach County buyers have purchased 30 percent more single-family homes from February to March.

WILL THE FHA OWN PART OF YOUR/YOUR NEIGHBOR’S HOME?

Rep. Barney Frank (D-MA) has a proposal (H.R. 5830) introduced in the House of Representatives suggesting that the FHA refinance mortgages and be part owners with profit sharing. The bill proposes a declining percentage fee on profits to discourage short-term speculators, and the program would not apply to 2^nd home owners, equal to 100% of all profits in year one, 80% in year 2, and so on for the first 5 years. Then there would be an “exit” fee equal to 3% of the sale price. This means lenders would accept losses and would later receive a portion of future profits from the home seller. To the besieged homeowner/seller, getting 97% of a profit after 5+ years is a big relief from total equity loss from a foreclosure.

FLORIDA #1 DESTINATION FOR INTERNATIONAL HOME BUYERS

A mid-2007 National Association of Realtors survey found that Florida was the leader in foreign home buying at 26% of all international purchases. California was next at 16%, Texas third at 10%. This includes purchase of mid-priced primary residences, luxury vacation homes, investments to rent out, and commercial properties. Being a convenient point of entry to the US from Europe and South American along with warm weather and recreational and cultural offerings were cited as reason for a preference for Florida properties. With the dollar weakness against the euro and British pound, foreign buyers have more purchasing power compared to home prices in other countries, e.g. the UK, Span and Ireland. Florida has 31 major airports and 14 deepwater seaports. According to the US census bureau, Florida gets more than 4-MM Visitors from 100+ countries in a year. In a 2005 FAR survey, 15% of total home sales in Florida were by international buyers. One-third of foreign buyers were from Latin America.

MILD HOUSING RECOVERY ON THE WAY BEFORE 2008 YEAR-END???

YES says a report from SMR Research Corp, who specialize in mortgage and home equity loan industry research. Being the first to report in 2004 that “a perfect storm” in credit quality would cause a blast in foreclosures within 2 years, they say, “Our prior forecasts were accurate but widely disbelieved when issued.” They expect skeptical reactions now too, but say “the numbers are what they are… homes are now affordable again… consumer psychology is the biggest remaining hurdle to recovery.”

TIPS FOR BUYING A HOME IN A DOWN MARKET

The subprime mortgage problem has scared a lot of people away from the housing market. However, the news isn’t all bad. The current market decline has dropped prices and made housing affordable to many fiscally responsible renters who never considered home ownership to be an option. Here are recommended steps for buyers to take advantage of this market downturn. Be aware of extraneous expenses including property taxes, homeowner’s insurance, standard maintenance, cost of utilities, and HOA fees or equity dues. Ask about current and upcoming special assessments. Decide how much you have left to spend on a mortgage, all closing costs, a down payment amount, paying down existing debts, and check on your credit records before applying in case there are errors to correct. Remember too that if you are selling and buying, while you may get a lower price than you want for your home, you will also get a low price for the home you buy. As a Realtor and a Mortgage Broker, your blog manager, Marilyn Farber Jacobs can assist you with all of these issues, and find you “the home of your dreams,” according to your criteria. Call 561-988-0070 or email marilynfjacobs@gmail.com. If you wish to receive all new properties that become available, go to http://www.FLWaterfrontCondos.com, register and list criteria for a condo, house or townhouse. Join the many buyers who regularly receive listings now. Perhaps your NEXT home will appear before your eyes, and Marilyn will be most happy to show you that home.

SUNDY HOUSE, DELRAY BEACH HISTORIC BOUTIQUE INN

Located in the heart of historic downtown Delray Beach, and one mile from the fabulous beach at the end of Atlantic Avenue, the Sundy House is a boutique inn listed on the National Register of Historic Places. This secluded retreat is nestled within an acre of stunning tropical gardens. The Victorian inn’s 11 luxurious guest accommodations feature sumptuous décor and modern amenities. Sundy House hides within an acre overflowing with 500 tropical plant species. In every corner, you'll discover unique details: a bed suspended in air, a sunset painted on the ceiling, red-cork wallpaper, and blue suede walls. Swim with turtles and angelfish in the naturally filtered swimming pond. Venturing away from this self-contained wonderland only brings more pleasures, like snorkeling or windsurfing in the southern Atlantic, minutes away. Stay for Sundy's Sunday brunch, a lavish affair with everything from eggs Benedict made with Florida lobster to raspberry ham with mango cole slaw. Doubles from $175; 561-272-5678 Experience the award-winning Sundy House Restaurant, the elegant Roux Bamboux Lounge. Just 20 minutes from Palm Beach International Airport and one hour north of Miami, our superb location is easy to reach whether for business or pleasure. The Sundy House is mere steps from shopping, dining and cultural events, in a serene setting in which art, history and culture merge. Complimentary transportation to beach/downtown where life is GOOD and ACTIVE. Other awards include: The New York Post – “Florida’s Top 50 Hotels and Resorts;” Travel + Leisure – “Top 30 Inns in the U.S;” Palm Beach Post – “Best Brunch and Most Romantic Restaurant;” South Florida Parenting – “Best Romantic Getaway.”

SUBMIT YOUR WORKS OF ART INSPIRED BY FLORA, FAUNA AND NATURAL PLACES IN THE COUNTY

“Local Treasures” is the theme for the 2008 summer/fall exhibit being shown from May 7^th to September 24^th with works of art being featured in public buildings, parks and plazas. IF you have talent, submit your works, reflecting the theme. For details – click on “Calls to Artists” or mail a self-addressed stamped envelope to Palm Beach County Art in Public Places, 2633 Vista Parkway, West Palm Beach FL 33422. Deadline for submission of photo of item is April 18^th.

$200-MM AFFORDABLE HOMES PROJECT GOING FORWARD

697 new homes, including senior rentals and for-sale townhouses, apartments and condos, will be going up in a revitalized neighborhood along a 27-acre stretch between Seacrest Boulevard and Federal Highway from 9^th to 11^th avenues. 10% would be subsidized with taxpayer money. Construction will begin in the spring of 2010; it may take up to six years to complete the project. First a 6500 sq ft senior center and 160 senior rentals will be built. There will be 7-story condo buildings for 300 units built along Federal Highway. There will be 32,600 sq ft of retail space. A development has been proposed for a mix of 84 for-sale town homes and 56 income-restricted rental apartments on the east and west side of Seacrest Boulevard between 7^th and 8^th Avenues.

BOYNTON BEACH CRA PROPOSES TRANSIT HUB

Thanks to the $185,000 proposal of the The Boynton Beach-Community Redevelopment Agency Board for a transit station between I-95 and Federal Highway from Martin Luther King Jr. Boulevard to just south of Ocean Avenue (one of several proposed sites), downtown may be transformed from languished to vibrant. The Florida East Coast Railway may be converted into a commuter rail. The hope is for Ocean Avenue to become a cultural campus with the main street lined with public art and historic homes serving as shops and art galleries. There already are public showcases with sculptured art in the roadway. Plans include a string of green spaces and parks along the railway, community and health services along Martin Luther King Jr Boulevard, a police precinct and neighborhood retail shops. It is estimated that these redevelopment projects could bring in$133-MM in property taxes over a 15-year build out. On April 15^th, City Commissioners, who have the final say, will discuss the downtown master plan.

TRANSFER YOUR CELLPHONE WITHOUT HIGH FEES BEFORE CONTRACT TERMINATES

Go to www.celltradeusa.com or www.cellswapper.com. You pay about $20 and the person who adopts your phone gets a short contract without an activation fee. Contact your carrier first for approval, and if you want to keep your old number, you’ll have to arrange that as well.

WANT TO PAY OFF YOUR MORTGAGE AND STAY IN YOUR HOME or CONDO?

In response to several questions from couples and individuals about how to stay in your permanent residence AND lower your budget by paying off your mortgage(s) without making additional monthly payouts, you may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off mortgages. You need to be age 62 or older. There are NO INCOME OR MEDICAL REQUIREMENTS TO QUALIFY. No change of title, no taxes on proceeds, no repayment for as long as you live and reside in the house, until it is sold. When sold, you or your heirs receive any appreciation up from the value at the time of a reverse mortgage. WITH THE HOUSING MARKET PRICES LOW RIGHT NOW, appreciation is a strong possibility in years to come. If the value of the house declines, you do not have to pay up the difference. In order to qualify for a U.S. Government-insured reverse mortgage, you must receive reverse mortgage counseling from a counseling agency that is approved and certified by the Federal Housing Administration (FHA). The counseling is a free safeguard for you and your family, to make sure that you completely understand what a Reverse Mortgage is, and what the process of obtaining a Reverse Mortgage is before you apply for one. Information about reverse mortgages. The Jumbo loans have been discontinued for now. The highest reverse mortgage amount is the lending limit in the county which is $369,700 but soon to be $417,000. Call Marilyn Jacobs, a Lic. Mortgage Broker, for a confidential appointment - 561-988-0070.

FORBES RECOGNIZES PALM BEACH COUNTY IN TOP TEN UP-AND-COMING TECH CITIES

“With Scripps Florida and the Max Planck Society both establishing world-class research facilities here, we are building the foundation for a knowledge-based economy.” Palm Beach County is recognized as a top pick for “Up-and-Coming Tech Cities,” and in scientific growth. Boca Raton is attracting firms, from biopharmaceuticals to stem cell research and storage, due to its solid business environment. Forbes list is called the TOP TEN HOTBEDS OF TOMORROW’S TECHNOLOGY. The survey considered specific pockets of science growth areas with “promising frontiers of innovation.” Forbes.com says that Palm Beach County is “becoming a haven for cutting-edge biotech and life science research.” More than 140 companies in the county are focused on discovery and advancement of drugs and pharmaceuticals, medical devices and equipment, research and testing. With strong collaborations among universities and pro-active assistance programs throughout the county, and philanthropic dollars, the area is thriving. Additional information can be found at www.bdb.org, the official public/private economic development organization for Palm Beach County and Enterprise Florida, a non-profit corporation founded in 1982 to attract and retain new industry, business investment, high quality jobs and workforce development. See Forbes says county number three in US.

NEW IRS RULING FOR VACATION HOME 1031’s

NEW IRS RULING FOR VACATION HOME 1031’s

• 24 month holding period
• for each 12 month period you must have rented vacation home for at least 14 days at fair market rent
• for each 12 month period owner can only use property for the greater of 14 days or 10% of the days rented.
• Days that relatives use the unit will count against you… unless they pay fair market rent
• You are allowed a reasonable number of “maintenance days” to care for the unit (not defined by IRS)

SUGGESTIONS:

· Tighten up record keeping and tax reporting

· Be serious in rental attempts

· Charge family members the going rental rate when they use it

Keep detailed records of dates you used the unit and what you did – and describe maintenance done for “maintenance days”

WHAT IS THE DIFFERENCE BETWEEN MORTGAGE PRE-APPROVAL AND MORTGAGE PRE-QUALIFICATION?

Verification and Documentation explain the difference. Pre-Qualification is based on information provided by the buyer whereas Pre-Approval is given after receipt of copies of bank account statements, income proof (pay stubs) and income tax returns; other information may be requested as well. Neither are considered a mortgage commitment, but the more detailed Pre-Approval is preferred by sellers. Pre-Qualification requires the borrowers name, address, phone number, date of birth and social security number with permission to do a credit check. Questions may be asked about annual income and what down payment the borrower can make. A letter is issued with an estimate of the amount of a mortgage for which the borrower can be approved, based on documentation verification, which may be described in the letter. The letter will also include a disclaimer, e.g., “subject to verification of employment (2 years of work history) / assets / credit review / charge card statements / mortgage underwriting guidelines” and the prevailing interest rate, which can be “locked in.” This serves temporarily as confirmation to a seller that a buyer appears to be able to afford to purchase their property. Underwriting criteria may include credit scores, work history, verification of income, qualifying income ratios, verification of where down payment will come from (e.g., brokerage or bank account or gift), cash reserves after closing. There may be information that has a negative impact on mortgage approval, including a borrowed down payment, inconsistent work history, unreported “cash” income, not enough assets for closing costs, and other issues.

LOOKING FOR SOMETHING CULTURAL TO DO THIS WEEK?

Renee Fleming… Kathleen Kennedy Townsend… the Russian National Orchestra… Joyce Carol Oates… The 5 Browns, on 5 pianos playing Home Blues from American in Paris… check out the schedule for the Boca Festival of the Arts this week…

ANTIQUE CLOCK EVALUATIONS

Ever wondered about the value of that pretty clock that has been in your shelf for years? Bring your antique clocks to the Cornell Museum, Old School Square, Delray Beach, between 1:00 and 4:00 p.m. for an informal evaluation by NAWCC members who are participating in the exhibit, Timekeeping through the Ages. For more information go to www.oldschool.org and see special events.

YOU WALK AWAY... from a mortgage!

The International Herald Tribune’s 2-29-2008 headline “Faced with mortgage default, some U.S. homeowners walk out” will lead you to this site, which results in walking away from a home and mortgage and ceding the home to a bank in foreclosure: http://www.youwalkaway.com/ . The house then becomes the lenders problem, and the former homeowner might be able to rent a property for less than half the cost of their mortgage they left behind. According to the article, while in some states banks have recourse to sue borrowers for their losses, it is usually not done because the process “is costly and “people’s nonhousing wealth tends to be pretty slim”. For a copy of the article, email marilynfjacobs@gmail.com. According to the founder of You Walk Away, which opened for business in January 2008, the company’s services are not for everybody and were meant as a last resort. Those finding themselves having to choose between a car payment and their kids’ health insurance or paying a ballooned mortgage may have an alternative now, and may feel that over the coming years their income will go up and their credit will improve while, in the meantime, they rent instead of owning a home.

INVESTORS: A GREAT TIME TO BUY!

With condo inventory SOARING here in Florida In the last 20 months, you may be able to buy RIGHT NOW at the lowest price you will see in a long time to come -

• $187,000 is median price for a Florida condo (per NAR)
• Median price is down 9% from one year ago
• Number of condos sold down 29% from one year ago
• Florida brings in more than 300,000 new residents per year (2^nd only to Texas)

Investors have started to GRAB GOOD DEALS while they can in this buyer’s market. The bad news for sellers means good news and opportunity for savvy buyers. Builders are making contributions to sweeten deals in the Florida condo market. LET MARILYN SHOW YOU THE BEST DEALS AROUND. To compare recent sales, amenities, restrictions and size of complexes go to http://www.FLWaterfrontCondos.com.

OFFICE HOURS EXTENDED FOR HOMESTEAD EXEMPTION, PORTABILITY FILINGS

Gary Nikolits, Palm Beach County Property Appraiser, reminds homeowners that there is less than a month left to file for 2008 homestead exemption and portability benefits and has extended office hours for the next three weeks. Extended hours will be available at the service center on the first floor of the Governmental Center at 301 N. Olive Avenue in West Palm Beach, at 3188 PGA Boulevard in Palm Beach Gardens and 501 So. Congress Avenue in Delray Beach, and 200 Civic Center Way in Royal Palm Beach. These offices will be open from 7:30 am to 6 pm weekdays. Filing deadline for exemptions is Monday, March 3^rd. It is suggested to file as early as possible to avoid long lines. You can file online on the Property Appraiser’s website; go to the Exemption E-File link on the home page and follow the prompts. For more information, call 561-355-2866.

HERE is your opportunity for international exposure of your work!

POETRY PROTOCOL, Syndicate is currently accepting poetry for it's International Poetry Quarterly. You also have the opportunity to submit your work for the '10TH ANNUAL MARILYN FARBER JACOBS POETRY AWARD' Contest! Grand prize: ONE HUNDRED DOLLARS!! Second Place: $50; Honorable Mention Certificates Awarded. SUBMISSION GUIDELINES: Theme: open - any style or genre of poetry; 20 lines or less; typed or printed, double spaced; deadline is March 18, 2008; entry fee: $5 for unlimited poem entries. Please make check out to: North Tulsa Literary Guild, Inc. and mail to North Tulsa Literary Guild, P.O. Box 6221, Tulsa, OK 74148-0221. ANYONE CAN ENTER!

GREAT DECISIONS GIVEN IN BOYNTON

America’s longest-standing global affairs education program, Great Decisions, is held at 2 pm on Thursdays at the Schoolhouse Children’s Museum, 129 East Ocean Avenue, Boynton Beach. Discuss world events after reading the weekly excerpt from the Briefing Book which places the thematic or geographic issue in historical context and provides background, current policies and alternative policy options. 2008 Great Books will be available for sale at the Boynton Beach City Library’s reference for $16. One copy is reserved at the reference desk for in-library use only. For more information call Karen Abramason, 561-742-6390 or email abramsonk@ci.boynton-beach.fl.us.

LINK TO LOWEST LOCAL GAS PRICES

http://www.sun-sentinel.com/business/custom/consumer/sfl-gasprices-htmlpage,0,826131.htmlpage

A PERSONAL MESSAGE FROM YOUR BLOG MANAGER

“Buyers are coming out of the woodwork,” is what I’m hearing from other real estate agents, and that is indeed true for me as well. I’m working with many buyers on purchasing primary and second homes. Closings are resulting. Some are from the US, and others from countries including Canada, England, and Singapore. I predicted in the past, and reiterate now: “the best buys will be made between now and the early summer… after that the pickings will be left on the market.” Sale prices are on the low side right now, interest rates are low and may go farther down, and there is huge inventory to pick from – A BUYER’S MARKET. Will keep the readership updated in the coming months… Marilyn Farber Jacobs, Realtor, ePRO – Lang Realty & Lic. Mortgage Broker – Iberia Mortgage Corp., Lic. Correspondent Lender

WHAT THE POLITICIANS ARE WORKING ON…. Maybe

… I did predict there would be big changes what with a national election looming up…

• A one-time $100-BB tax rebate and tax incentives for employers to hire more workers
• Temporary cut in corporate income taxes
• Emergency assistance for owners who need extra money to help with high heating bills this winter
• Proposals to expand loan modifications and payment relief for borrowers heading for serious delinquency or foreclosure
• Widening “rate freeze” mortgage relief programs beyond just sub-prime borrowers to ALL borrowers, including those with prime credit, who find themselves in trouble on their mortgages
• $MM’s for new assistance for local nonprofit counseling groups who reach out and guide mortgage borrowers in danger of losing their homes
• Federal Tax Code amendment allowing state & local housing agencies to issue tax-exempt bonds to refinance loans of troubled homeowners (not just assisting new home purchasers) at low, fixed rates
• Moratorium on foreclosures nationwide and legislative amendment allowing bankruptcy court judges to unilaterally reduce homeowners’ mortgage debts to lenders… BUT there is non-acceptance for these two issues from bankers and the mortgage industry

A WAY TO GET THROUGH AIRPORT SECURITY FAST

“Clear” is the fast pass for airport security. Clear members are pre-screened and provided with a high-tech card that allows them to access designated airport security fast lanes nationwide. Clear members pass through airport security faster, with more predictability and less hassle. Clear's first year price is $99.95. You can lock-in this rate by purchasing a two-year membership for $199.90 or three years for $299.85. For more information, go to http://www.flyclear.com/about/

A WONDERFUL CHRISTMAS GIFT IN HONOR OF YOUR FRIEND OR RELATIVE

Luv-A-Pet is one of the organizations that lost county funding this year, and they need help from the public. There is a very touching story in the current Town-Crier Online (http://www.thecrier.co) of a Chichuahua who needs surgery that they are helping. On Saturdays and Sundays, Debbie Shields, a member of the pet rescue organization, brings Gemma to the Royal Palm Beach PetSmart. Take the kids there and give Gemma some loving attention. And, leave a donation in honor of the kids, your Mom, your spouse, your own pooch or kitty. That is in keeping with the “giving” part of the Christmas holiday. Make it a better year for another creature who is in distress.

BIG TIME REAL ESTATE SALES

The Denver Post reports that billionaire hedge fund manager Louis Moore Bacon has purchased Steve Forbes’ 171,000 acre Trinchera Ranch in Colorado for $175,000,000, a new record for housing purchases. AP reports that Forbes ($500 MM net worth)sold the property to 51-year old Bacon ($1.7 BB net worth) because he has a solid conservation record and could be trusted to preserve the ranch. The Aspen Daily News article says the property is the largest privately owned ranch in Colorado and was part of the Sangre de Cristo Spanish land grant made in 1843. Malcolm S. Forbes purchased the property for roughly $20 an acre in 1969 and bought more land contiguous to the property in 1982. A spokesman for Mr. Bacon says he doesn’t have plans for the property “beyond spending part of every year there with his family and friends, enjoying its spectacular vistas, hunting, hiking and the like.” Former highest purchase was made by Ron Baron for his Hamptons’ tear-down. Saudi Prince Bandar bin Sultan took his $135,000,000 90-acre Hala Ranch off the market after receiving no acceptable bids. There is a helicopter pad at Trinchera, and here is the description from the listing: Colorado's largest ranch. Miles of trout-filled streams and herds of elk, deer and big-horn sheep share the 250 square miles of this private paradise in the Rockies. Acquired by Malcolm Forbes in 1969, it is a place where he would come to savor the tranquil, wide open spaces, to think, reflect and entertain. His children have expanded on this tradition and now make the ranch available for select groups. Headquarters, including the main lodge and state-of-the-art conference facilities are situated in the Trinchera Valley. The lodge itself is a virtual art museum with diverse collections of ships models, toy motorcycles, western paintings and bronzes acquired by Malcolm and his sons. The Forbes Trinchera Ranch offers corporate and business groups beauty, privacy, and luxury. It is a place to think, create, re-charge, and have fun.

ISRAELI SECURITIES APPROVED AS COUNTY INVESTMENT

The County Commissioners amended the county investment policy so that up to 1% of it’s $1.7BB portfolio can be invested in State of Israel securities, or a maximum of $17MM. Included can be bonds, notes or instruments backed by the full faith and credit of the State of Israel, if rated “A” or higher by Standard and Poor’s and Moody’s ratings services. They must also have a maturity of 2 years or less. The Development Corporation for Israel may act as an authorized broker/dealer for securities backed by the State of Israel only. Backed strongly by Commissioner Burt Aronson, whose Commission District 5 is heavily populated by Jewish families, he pointed out that “Israel has not defaulted on a bond in its 50-year history as a nation." The state of Florida holds at least $230MM in securities issued by the State of Israel and has been an investor for a long time. Governor Charlie Crist and Senator Ted Deutch signed legislation earlier this year called, “Protecting Florida’s Investments Act,” so as not to link public investments with “rogue” nations.

AGREEMENT NEAR TO FREEZE MORTGAGE RATES FOR SOME

A new program aimed at homeowners who have steady incomes and relatively clean repayment histories, who can afford the lower introductory mortgage rates they have now, but cannot afford the higher adjusted rates, may freeze their current rates temporarily. While some government regulators are calling for a 5-7 year freeze, investors want 1-2 year freezes. Two million sub prime mortgage holders, offered to borrowers with spotty credit histories, are scheduled to reset to much higher levels by the end of 2008, pushing payments up by $350/month and more. When enacted, this may start to relieve the worst housing slump in many years. Also being discussed is a program to create more affordable loans to homeowners who would like to refinance mortgages with lower payments. Expansion of FHA loan availability and boosting government oversight of Fannie Mae and Freddie Mac are being discussed as well. One trigger for these moves is fear of a full-blown recession if nothing is done to alleviate the current problems for many homeowners. This news is from the Florida Association of Realtors.