housing special report

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!!SPECIAL REPORT!!

NOW IS THE PERFECT TIME TO BUY REAL ESTATE

&

WATERSIDE COMMUNITY,VERO BEACH, FLORIDA IS THE PLACE.

www.affordable-custom-homes.com772-774-8355

The Housing Market Myth Busted!

The truth is there is an inventory of empty foreclosures; the housing marketmay drop another 10%; existing home sellers are desperate. All of this istrue.Only a select number of home builders can offer buyers new custom luxuryhomes in the Vacation Capital of the World at near foreclosure prices.The price of Preconstruction Homes has bottomed. These homes will not fallanother 10%. If you are contemplating a new home, vacation home, orinvestment real estate on Floridas East Coast, the time will never be anybetter than now!Banks are loaning at, soon to be rising, historically low interest rates; VeroBeach Florida will be in the top 1% of real estate markets to recover rapidly,providing immediate equity.

Study this report then call 561-775-5660 for a private consultation.

NOW IS THE PERFECT TIME TO BUY REAL ESTATEwww.affordable-custom-homes.com

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Wednesday, 15 October 2008Sarasota Real Estate Firm Promotes Sarasota on German Television

SARASOTA, FL, The topic of the televised interviews has been the real estatemarket in Florida and especially in the Sarasota Area [Vero Beach is theSarasota of the East Coast of Florida]. In July, two German TV crews, onewith Spiegel TV and the other with Stern TV, filmed German buyers inSarasota and interviewed them about the current Real Estate market,emphasizing the advantage European buyers have now, due to the strongEuro.

These reports not only promoted the real estate market, it also promoted thebeauty and affordability of Florida. Both reports have been broadcasted

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several times nationwide in Germany on VOX TV in September and earlyOctober.

This media interest has triggered a huge amount of e-mails and calls fromGerman viewers and it will definitely lure more buyers and tourists to Florida.


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Fred Pawle | October 15, 2008

Is now the time to snap up a holiday or investment property in the US?

The rate of forced sales suggests the answer is yes, although the

strengthening US dollar and uncertain capital gains mean it's not quite aforeign buyer's bonanza.

Already, 2.2 per cent of all US homes are in the foreclosure process,according to foreclosures.com . The Wall Street Journal predicted this weekthat there could be 1 million foreclosed properties on the US market by theend of the year.

Surprisingly, Florida ranks high among the states with significant rates of negative equity and foreclosures, and not just in the poorer areas. FortLauderdale and Coral Gables in west Miami have a surplus of large family

homes in urgent sales. [ In Vero Beach, Florida foreclosures are rare,attesting to the quality of living on the Treasure Coast. ]

"I expect the bottom is very near," said Fort Lauderdale agent JohnSabia. "It is expected that foreclosures will continue to rise into early 2009and then begin to trim and decline as we move through the year."

California also had high rates of foreclosures, but mostly in the lower socio-economic towns between Merced and Stockton, inland from San Francisco.

Meanwhile, in more salubrious Santa Monica, foreclosures were low[akin to Vero Beach, Florida], but the overarching depressed economicmood was still having an effect. "There are some very good buys," saysagent Simon Salloom. "This is the best I've seen it since 2000. It's definitelya buyer's market. The ratio of rent to prices is good.

"It could still go down a little more, maybe 5 or 10 per cent. But if wedo go down, I expect it will go back up real fast. Once the creditmarket thing figures itself out and we get a new President, I think

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things will really get better. I feel were at the epicentre of the stormright now."

There is an opportunity to buy quality right now, said west LosAngeles agent Jason Sturman. There are a lot of properties on the marketand still a lot of buyers, but our biggest problem right now is the lack of financing. Its becoming more difficult for people to get loans. So peoplecoming in with cash have a tremendous advantage .

He said the prices would stay low through 2009, and would not rise untilbanks were able to start lending again.


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October 14, 2008: 4:05 PM ETBy Jeanne Sahadi, CNNMoney.com senior writerNEW YORK (CNNMoney.com) -- The federal government on Tuesdayannounced a historic plan to restore confidence in the U.S. financialsystem and to spur banks to begin lending again more normally -both to each other and to consumers and businesses.

Here are the key elements that will be put in place first:

Buying equity in banksThe Treasury will buy up to $250 billion in senior preferred shares in a widevariety of banks.

Nine of the largest banks have agreed to be the first institutions in which thegovernment takes a stake. But the program will be available potentially tothousands of banks.

The government may take senior preferred shares up to the lesser of $25billion or 3% of the bank's risk-weighted assets.

The stakes will come largely in the form of non-voting shares and may besold to a third-party if the government wishes.

The shares will pay 5% a year in dividends for the first five years and 9%after that. The increase in the dividend may serve as incentive for the banks- if they have the private capital to do it - to buy back the government'sshares before the five years are up.

The government will also receive warrants to buy additional shares worth upto 15% of the preferred stock it buys. The strike price for Uncle Sam: the

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average price the stock was selling for over the 20-day period preceding thegovernment's purchase of preferred shares.

Given the battering bank shares have taken in the past week, if thegovernment exercises its warrants soon, it is likely to make a profit from its

investment in the first nine banks in the program, said Jaret Seiberg,financial services analyst at The Stanford Group, a policy research firm.

Participants in the program will be subject to the restrictions on executivecompensation that Congress included in the financial rescue law that itpassed on Oct. 3. One such measure, for example, requires that any bonusor incentive paid to a senior executive officer for targets met will have to berepaid if it's later proven that earnings or profit statements were inaccurate.

Backing new debt from banksThe Federal Deposit Insurance Corp. will guarantee new, senior unsecureddebt issued by banks, thrifts and bank holding companies. The new debt thatwill be covered must mature within three years, and banks may opt in to thisprogram until the end of June 2009.

The intent is to give confidence to the buyers of bank debt that they will getpaid back no matter what.

The program will be paid for by user fees imposed on banks. No taxpayerdollars or dollars from the FDIC insurance fund will be used.

Providing more coverage for bank depositsThe FDIC will temporarily provide unlimited coverage for all non-interest-bearing accounts, which typically are those where businesses park money tocover their near-term expenses such as payroll. The increased coverage willlast through the end of 2009.

The program will be paid for by user fees that are part of the premium thebank pays the FDIC to insure deposits. No taxpayer dollars or dollars fromthe FDIC insurance fund will be used.

The goal is to boost liquidity for otherwise healthy banks - particularlyregional and local ones - that might otherwise have seen nervous depositorspull their money out in favor of putting them at larger institutions.

Buy short-term commercial paperThe Federal Reserve is finalizing plans for a temporary program in which itwill buy high-quality three-month debt issued by businesses in thecommercial paper market.

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The commercial paper market, which has been sharply curtailed in recentweeks, is the prime source of funding used to cover operating costs at manyof the nation's largest companies and financial institutions.

The program would begin on Oct. 27 and would remain in effect until April

30, 2009.The intent of the program is to guarantee there will be a buyer of the debt,which in turn will make private-sector buyers more confident that they willget paid back if they, too, buy a company's short-term debt. That's becausethe company pays back debt holders by issuing new commercial paper.

But what about buying troubled assets?When the government's rescue plan was first formally proposed little morethan two weeks ago, the major initiative was supposed to be the purchase of troubled assets off of banks' balance sheets.

The rationale: Banks are having a hard time attracting capital because thereis concern that they may be holding so-called "toxic" assets. Those assetshave underlying value but no one has known how to price them in the wakeof the housing crisis.

The four major steps the government announced on Tuesday do not precludethe Treasury from pursuing its asset-purchase option. Indeed, Treasury andWhite House officials have indicated they are still working on structuring aprogram to buy troubled assets, which the government could hold until themarket recovers and then sell back to investors at a profit. But it clearly isn'tgoing to be the first effort out of the gate.


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View the following two videos for further explanation on instillingconfidence in world markets.http://money.cnn.com/video/#/video/news/2008/10/14/news.bair.101408.cnnmoney

The recession? It's already here

Sept. 9, 2008 U.S Gov. Bailout of Fannie & Freddie. Thegovernment slips a floor under existing home prices and opens banks lending channels.

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a decade , from a 4.99 million rate the prior month. The median homeprice in June was $215,100, down 6.1 percent from the same monthlast year.

Aug. 7, 2008 (Mayur Pahilajani - AHN News Writer)

New York, NY (AHN) - The housing market may not be driving the U.S.economy in to the recession, after all.

The number of homes under contract to be sold surged unexpectedlyin the month of June , according to a report released Thursday.

The National Association of Realtors reported on Thursday that pending U.S.homes sales rose by 5.3 percent in June, more than the prior month that wasrevised downwardly to 4.9 percent.

The report showed that its seasonally adjusted index of pending sales forexisting homes increased to 89, compared to the reading of 84.5 in themonth of May.

The market analysts had expected the NAR's Pending Home Sales Index todropped to 84.3 in the month of June.

Some market analysts speculated that bargain hunters have enteredthe market en masse, especially in areas that have experienceddouble-digit price drops.

"Buyers entering the hardest-hit markets , in some cases with multiple-bid offers, may have put a floor on prices ," Lawrence Yun, chief economistfor the NAR, said in a statement.

The NAR's index, which was down to a record low of 83 in March thisyear, was at 101.4 in June 2007 .

The pending home sales index, which is considered to be a leadingindicator of existing home sales, increased in all the four regions of the country.

In the Northeast in the month of June the index was up by 3.4 percent. Theindex increased by 1.3 percent in the Midwest, 4.6 percent in the West and9.3 percent in the South of the U.S.

Despite the monthly gains, all four regions remain below year-ago levels, asthe June index was 12 percent down.

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Meanwhile, some market analysts are expecting the last month's

Housing Bill to help the sales recover from the slumping marketcondition in the following months.

The U.S. Senate voted 72 to 13 in favor of the bill that offers up to $300billion in loan guarantees for homeowners to get cheaper loans.

The new law will also be used to rescue the beleaguered firms, Fannie Maeand Freddie Mac, which have found difficult to raise fresh capital enough toshore up its weakened balance sheet.

The housing legislation , which is the second major step by the Bush

administration after economy stimulus package in tax rebates, is aimed tohelp hundreds of thousands of families from losing their homes toforeclosure.

The new law signed by President Bush last week include a $7,500 taxcredit for first-time homebuyers, which is likely to improve thehousing market.

The basic rendering of the bill revolves around the following:

Help to Fannie Mae and Freddie Mac from the Treasury if they needit. (Together with a supposedly stronger regulator)

Refinancing help for homeowners under stress from the FHA. Grants for municipalities to buy abandoned properties. Housing tax breaks, including a credit to first time buyers. Money for pre-foreclosure counseling and legal services. Some profits from Fannie and Freddie will build affordable rental

housing.

By PAUL [email protected] : Aug. 7, 2008

The weak real estate market received a dose of good news Thursdaywhen a report showed pending sales of homes in the U.S. took anunexpected jump.

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The National Association of Realtors index of pending home salesrose 5.3% in June after a 4.9% slide in May. Economists hadprojected the index would fall 1%. Pending home sales are those onwhich the seller has accepted an offer but the transaction hasnt yet closed.

Some analysts attributed the rise in pending sales to the recordnumber of foreclosures and a decrease in home prices.

On the demand side, whats really been active is housing under$300,000, Ruzicka said, adding that he was optimistic about sales pickingup in the second half of this year and next spring.

A package of housing legislation signed last week by President Bush, whichincludes a tax credit of up to $7,500 for first-time buyers, also mightbe stirring interest.

I was shocked at how many Realtors, in the first couple days, got callsfrom buyers saying, We heard about the $7,500 tax credit, and wewant to start looking at houses , Ruzicka said.

This program could help as many as 400,000 homeowners across thecountry facing foreclosure. The 700-page bill also contains fundingfor counseling agencies, block grants for communities to buy andrehabilitate foreclosed properties, tax breaks for first-time homebuyers and protections for older Americans and veterans returningfrom military service.

By: JBS Staff August 18, 2008 An emergency monetary bazooka has been provided the Treasury. Threehundred billion dollars for FHA loan guarantees was also authorized throughfiscal year 2011 to assist borrowers at risk of foreclosure to refinance intoaffordable fixed-rate mortgages. The plan requires that voluntarilyparticipating lenders take a write-down on each existing mortgage off-loadedto the FHA lender. Authority was also provided for $3.9 billion in grants tostate and local governments to buy abandoned and foreclosed residentialproperties.

Sunday, August 10, 2008

By KATHY JUMPER

Real Estate Editor

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First-time homebuyers have a $7,500 incentive to buy a house, but here'sthe kicker: For the purposes of the new federal housing stimulus bill, a "first-time" homebuyer is anyone who has not owned a house in the past threeyears.

The Housing and Economic Recovery Act of 2008 is aimed at jump-starting the sluggish real estate market. Realtors and builders predict itwill reduce inventory and spur some move-up buyers to purchase newconstruction. "It should help all builders," said custom builder Mark Swanson,president of the Home Builders Association of Metro Mobile. " A lot of peopleare sitting on a house that they need to sell before they can move up.I think we'll see some first-time homebuyers purchasing thosehouses."

Key elements of the legislation signed by President Bush in late July include:

A temporary tax credit up to $7,500 available for first-time buyers whopurchased the home on or after April 9 of this year, or who buy before July 1,2009. Single taxpayers with incomes up to $75,000 and married couples whoearn up to $150,000 qualify for the tax credit, which must be paid back over15 years starting in 2010.

Revitalizing the Federal Housing Administration so more workingfamilies can become homeowners. The FHA will be able to insure upto $300 billion in mortgages to refinance loans headed forforeclosure.


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Downsizing the American Home - by Shawn Tully

Friday, June 6, 2008provided by

When the real estate market comes back , it will not be with a sonicboom. It is likely to be subtle, below the public's radar. The revival willprobably begin in the areas hit hardest by the bust: in Florida , LasVegas, and the honeycombed tracts that flank the broad freeways east of Los

Angeles known as the Inland Empire. (Indeed, home sales in SouthernCalifornia surged 22% from March to April, hitting their highest levels sinceAugust.) Why will housing come back? For a reason as solid as floor joists;the entry-level buyer, for the first time in years, is finding thatowning a new house is suddenly just as cheap as renting . "Those first-time buyers got locked out by high prices," says John Karevoll of DataQuick,a research firm that assembles data on the U.S. real estate market. " Nowthe buying activity that was on hold is starting to come back. "

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In hindsight, the reason for the current malaise is simple: too few buyers. By2007 more and more people were frozen out of the market - especially theentry-level buyers, who now account for as much as 30% of new-home sales.From 2005 to 2006 some first-timers rushed to purchase homes theycouldn't afford with the help of exotic loans. But another big group of consumers steered clear and are finally looking to buy. Now that prices of new houses have fallen as much as 30% they are returning -prompting a turning point in the housing cycle. Call it the NewAffordability.

Three factors are driving the New Affordability: housing prices,house size, and the government's expanding role in the mortgagemarket . [Step one for Uncle Sam was providing a floor for fallingproperty values. Step two is raising interest rates to stimulate abuying frenzy and turn the housing market around.] The experience of Richard Murkey, 28, and his wife, Kayla, 25, epitomizes the trend. These LasVegas residents started shopping in 2006 but couldn't remotely afford the$300,000-plus prices that modest houses were fetching at the height of thefrenzy. "Then, in the middle of 2007, we saw prices dropping, so we startedlooking again," says Richard, who sells safety products to construction sites.In January the Murkeys went to contract on a four-bedroom, Tuscan-stylehouse at $246,000, more than $50,000 less than it sold for 18 monthsbefore.

Today's buyers are willing to trade size and amenities for far lower prices. Butthey're extremely specific about what they want to keep. Buyers welcomehouses half as big as the models that reigned at the peak, as long as theyoffer plenty of bedrooms. They also don't miss the formal living and dining

rooms if a "great room" combines the two in one open space that includes agenerous-sized kitchen.

Bargain-hunters are drawn to these smaller houses, which look just like thebehemoths built in 2005 and 2006; right next to them are new houses withexactly the same 50-foot faades- and a big difference you don't notice fromthe street: They're about half as deep and roughly 2,000 square feet. Thosehomes preserve the community's curb appeal by keeping the faades lookingsimilar and sumptuous. But purchasers love that the new homes boast fivebedrooms, and they especially appreciate the price tag: about $220,000, vs.$420,000 for the big neighboring homes built at the peak (and that now sellfor around $300,000). Over time this New Affordability may swell the ranksof buyers. " What's been killing the market is people who are waitingto buy or incapable of getting financing," says Jonathan Dienhart of HanleyWood Market Intelligence, a residential real estate research firm.


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Today both land and construction costs are falling rapidly. In Florida,construction costs for a 2,000-square-foot home have dropped to$80,000, vs. $100,000 at the peak, a 20% reduction. The result isthat the average sales price there has fallen from $275,000 to$215,000.

Consumer prices were 5% higher than a year ago and rose 1.1% on amonthly basis, the Labor Department said.Federal Reserve boss Ben Bernanke has warned that the threat of risinginflation has intensified recently .Minutes from the Fed's latest meeting on interest rates indicated thenext move in borrowing costs could be up.It faces the dilemma of having to stem the rise in inflation while not furtherchoking an economy under serious strain.'Fed in a hole'June's annual inflation increase was the highest since 1991 while the monthly

jump is the sharpest since September 2005.In his second day of congressional testimony on Wednesday, the Fed bosssaid inflation was too high and it was a key objective for the centralbank to bring it down.Many analysts now believe that the central bank may have to leaveborrowing costs on hold, or even increase them, as it tries to steer a falteringeconomy through turbulent times.At the same time as inflationary pressures are rising, the US faces a severehousing slump, a credit crunch and financial market turmoil stemming fromthe collapse of the sub-prime mortgage market.According to minutes of the Fed's interest rate meeting in June,policymakers believed "the next change in the stance of policy couldwell be an increase" due to "upside risks to inflation and inflationexpectations".

The cost of taking out a mortgage in the US has climbed again due tofears over the fate of two huge lenders, according to The New YorkTimes.The interest rate on an average 30-year fixed rate mortgage rose to6.71% from 6.44% on Friday, HSH Associates says.And rates on loans of $729,750 or more hit 7.8%, the most sinceDecember 2000.

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[Rising interest rates trump declining property values, if in fact thereis any further declining. Strength of the USD will shrink the spreadof the dollar vs. the euro.]

NOW IS THE PERFECT TIME TO BUY REAL ESTATEwww.affordable-custom-homes.com772-774-8355

Updated Wednesday , July 16, 2008The upside of Florida real estate: 20 market positives

Lets take a look at some of the opportunities and positive indicators for thefuture of Floridas real estate market.

1. Long-term economic and demographic trends continue to favor Florida.

By 2010 it has been forecast that Florida will be the third mostpopulated state in the country. Floridas population is expectedto increase about 75 percent by 2030. Florida demonstrates along history of strong growth. It has been one of the 10fastest-growing states in the U.S. for each of the past sevendecades , and often it has been in the top four, according to censusdata. Population growth will continue to provide a foundation for othereconomic growth such as new jobs and growing incomes. All of whichis good for real estate.

2. People continue to move here. Its estimated that 900 people movehere every day. Based on recent trends, Stan Smith, director of UFBureau of Economic and Business Research , said he expects Floridato add about 300,000 residents a year during the next two tothree years .

3. Five of the top 15 cities in the Milken Institutes 2007 Best PerformingCities survey, which looks at sustainable economic growth, are inFlorida, including the No. 1 city, Ocala. A total of 13 Florida cities are inthe top 50.

4. Low unemployment. Almost 120,000 jobs were created in Florida inthe year between August 2006 and August 2007. Floridasunemployment rate has hovered at or under 4% for a long time; andwas 4% in August 2007, according to the latest data available from theU.S. Department of Labor. That not only puts it well below the nationalunemployment average, it also is the lowest unemployment rateamong all ten of the most populous states.

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5. Jobs are plentiful, and that trend will continue. A recent study byBizjournals called Where the Jobs Are found that 7 of the hottest15 job markets are in Florida.

6. Lets take a look at the weather. If you think the hurricanes we

experienced are going to have long-term effects on the Florida realestate market , consider this tidbit from Fortune Magazine. Itrecently reported, Economists and geographers who havestudied how natural disasters affect real estate values havegenerally found there to be no lasting impact. Example #1:When Hurricane Hugo hit Charleston, S. C., home values wereactually higher one year later. Example #2: That same year,1989, a huge earthquake made big news in San Francisco, andthe same thing happenedhouse prices went up.

7. Grant Thrall, a professor of whats called Economic Geography,explains this phenomenon this way residents move away andhome prices fall only when natural disasters start becomingregular occurrences in an area, not when they happenperiodically. And while the hurricane seasons of 2004 and2005 may still be fresh in our minds, the fact is, historically itwas a fluke. Eight storms hit the Florida mainland in those twoyears. But if you look back at the 50 years prior, only sixCategory 3 or higher storms hit the Florida mainland in half acentury. [Floridas infra-structure was surprisingly resilientafter the 2004 and 2005 storms. Those storms spurnedhousing structural upgrades that will lower or eliminatedamages if we ever experience further storms.]

8. Gov. Charlie Crist, state lawmakers and business groups arecommitted to finding real solutions to the escalating costs andshortage of property insurance in Florida, as well as much-neededproperty tax reform. Florida Realtors will continue working closely withlawmakers to help resolve these complicated issues and keep thestates economy moving forward. For example, 2007 FAR PresidentNancy Riley sits on the governors property tax reform commission,and 2005 FAR President Frank Kowalski served on the governorsinsurance reform commission.

9. Interests rates currently are still low, on a par with interestrates in the 1960s. And thanks to the Feds recent rate cut,were already seeing lower rates on home equity and mortgageloans, including jumbo loans. The Feds action effectivelyincreases the number of homebuyers able to make a purchase,which should increase demand, and also help support homeprices. Home prices continue to stabilize, inventory is plentifuland homebuyers have lots of options.

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10.Homeownership has value: Realtors believe and research supportsthat belief that homeownership provides a variety of benefits,tangible and intangible, to the community as well as the individualhomeowner.

11.Studies show that home equity is still the largest single source of household wealth, both for the individual homeowner and forhomeowners as a group. Home value is the most important singleaspect for homeowners.

12.Owning a home leads to increased personal well-being. Researchshows that people who own their own homes tend to show higherlevels of personal esteem and life satisfaction, which in turn helps tomake homeowners and their children more productive members of society.

13.Studies show that children raised in homes owned by theirfamilies are more likely to stay in school and more likely tograduate high school. Theyre also shown to have a higherlifetime annual income.

14.People who own homes have a strong financial stake in whathappens to their community and tend to become more involvedin community and civic affairs. Studies show that homeownersalso interact with their neighbors to gain wider influence overtheir neighborhoods and communities.

15. Homeowners join up to 41 percent more civic and/ornonprofessional organizations than renters , such as the PTA orScouts; vote in local elections 15 percent more often; enhance theirneighborhoods with gardens 12 percent more often; attend churchabout 10 percent more often; and have a 3 percent greater chance of being interested in public affairs.

16. 2007 Florida Association of Realtors (FAR) President Nancy Rileysays, Florida Realtors know buying a home is a very personalinvestment an investment in a familys future. Although researchshows it is the largest single investment most families make and helpsto provide security for the future, owning a home isn't just a financial

investment. Ownership is about having a place to call home: aplace where families build a future and become part of acommunity.

17. Over the past five years, the average homeowner has seen anincrease of 50 percent in value, according to the National Associationof Realtors (NAR). Here in Florida, the statewide median homeprice has shown an increase of 52.5 percent from November

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2002 to November 2007, according to FAR records. NAR housingindustry analysts project that prices will rise about 2 percent next year,and in coming years, average home price appreciation should return tohistorical averages of around 6 percent.

18.Florida is a great place to live and work. According to EnterpriseFlorida Inc., the Sunshine State has one of the nation's strongesttourism industries; it is fourth in the nation in high-tech jobs; is thethird largest exporter of high-tech goods and services; and is rankedas one of the best states in the nation to be an entrepreneur.

19.Orlando-based economist Dr. Hank Fishkind recently said inseveral media reports he believes that the worst of the so-called housing crisis has probably been mitigated by theactions of the Fed. Recovery will take a while, but it hasbegun. Another economist, Dr. Lawrence Yun, chief economistwith the National Association of Realtors, predicts that theFlorida housing market will get stronger in 2008 and will bebooming again by 2010.

20. And lets not forget the things that brought people to Florida in thefirst place, and will continue to attract them beautiful beaches,fabulous weather and a friendly business climate, with no stateincome tax. Its no wonder that Floridas combination of temperateclimate, outstanding recreational amenities and economic opportunityhas consistently put us at the top of Harris Polls most desirableplaces to live survey.


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Why It's a Great Time To Buy Real Estate in Florida!

Inventory : Conditions are ideal for buyers to find their dream home.Inventory is plentiful. In Floridas three largest markets alone, more than125,000 homes were for sale at years end in 2007. Even with these highinventory levels, economists predict that number will go down in 2008 which, of course, is another great reason to buy now.

Favorable interest rates/reduced prices: Do the math. Lower ratesmultiply buyers financial power, especially now when rates are near a 40-year low. Even one/half of one percentage point differencemeans a buyer could save more than $1,000 per year on a median-

priced home. Buyers get more home for the money , which is a perfectscenario for families looking to upsize.

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Crist, Floridas Govenor, said he plans to cut Florida property taxes inexchange for a higher sales tax. State officials said the $8 billion cut shouldbe made up by raising sales tax by a penny.

NAR's 2007 Profile of International Home Buying Activity

Location/lifestyle. With the extensive inventories in urban andsuburban locales, buyers can live closer to work, schools and rapidtransit lines. First-time homebuyers now have a package of housinglegislation signed last week by President Bush, which includes a taxcredit of up to $7,500. And lets not forget Floridas climate, world-class beaches, vibrant economy and diverse population.

While homes may be selling slowly in Florida, the fact remains that homesin the Sunshine State are selling , and thats good news. As Floridaeconomist Stan Geberer recently said in various media reports: If we had allthis excess inventory and nobody wanted to move here, you wouldn't be ableto sell the homes at any price. The fact that we have underlying demandand new job growth suggests this underlying demand is sufficient toclear the excess inventory without a dramatic collapse in prices.

The decision by Torrey Pines Institute for Molecular Studies toexpand into Florida further establishes our state as a hub foradvanced biomedical research and commercialization, said Bush. Thismove will have a significant impact on the local economy whilecontinuing to build upon a growing life sciences sector in Florida. Iwish Torrey Pines great success from its new home here in Floridafor many years to come .

Florida homeowners know that their homes remain goodinvestments . A July survey from the University of Floridas Bureau of Economic and Business Research found that Floridians are optimistic abouthousing prices, with only 5 percent of those polled saying they think theirhouse values will fall during the next five years.Eighty-two percent expected the value of their houses to rise, and 13 percentsaid they would remain the same. The median respondent expected a gain of 18 percent, or a little more than 3 percent a year. The chairman of UFseconomics department, Jonathan Hamilton, summed up the survey findings,noting that Most of the problem in Florida right now is that weve hada huge amount of building and lots of speculative buying, and thingsare now catching up.

In 2008, more than 300,000 people will move to Florida, generatinga demand for 150,000 for-sale and rental homes. Meanwhile, thestates economy is likely to add 175,000 new jobs, stronglyoutperforming national averages. And a significant percentage of Floridas 80 million domestic and international visitors will considerbuying second homes in the Sunshine State.

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Florida will continue to lure retirees and entrepreneurs looking for a warmclimate where they can enjoy an active lifestyle, says Linda C. Loomis, salesassociate, John R. Wood Inc./Realtors in Naples. With golf, boating,fishing, tennis, beach going, swimming and a host of other outdoor activitiesat their doorstep, Florida offers a healthy and appealing lifestyle.

Economists and real estate experts interviewed by Florida Realtor arecautiously optimistic about the states growth prospects for 2008. SeanSnaith, director, Institute for Economic Competitiveness (IEC) at theUniversity of Central Florida, Orlando, expects the states growth rateto pick up in 2008. The institutes recent Florida & Metro Forecast,2007-2010 says the state will see a distinct pickup in economicactivity with a 2.1 percent increase in new jobs in 2008nearlydouble the 1.2 percent projected for the United States as a whole.

In the real estate sector, Snaith notes, rising prices on Floridas coastsare shifting historic migration patterns toward the center of thestate . People are still coming to Florida, he says, but its the interiorcounties that are most likely to attract new residents and businesses.


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Heres a closer look at the regional markets around the state:

Orlando

With its strong tourism sector, defense-related contracts, new medicalinstitutions and overall commercial growth, Orlando is diversifying itseconomic base. In the IEC forecast, Snaith says Orlando will lead the state inpersonal income growth with high levels of employment and populationgrowth as well.

Randy Martin, broker-associate, and 2007 president, Orlando RegionalRealtor Association, points to the potential impact of a new medical city inthe Lake Nona corridor, including UCFs new medical school, the BurnhamInstitute for Medical Research, a VA hospital and a Nemours ChildrensHospital.

Anthony Crocco, director, Central Florida, MetroStudy in Orlando, says theregions job-formation numbers will look better next year because theoutflow of construction jobs has slowed.

There are several big expansion projects that will be factors next year,producing demand for housing and bringing more people to the region, whichremains relatively inexpensive, Crocco says.

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Orlando officials recently approved plans for a new performing arts center, anew basketball arena for the Orlando Magic and major renovations to theCitrus Bowl. In addition, an 18-story hotel has been proposed for theredevelopment of Church Street Station in downtown Orlando. Those newvenues add to the desirability of the greater Orlando area, Martin says,noting the fundamental appeal of the regions tourism sector.

Naples/Fort Myers

Another hot spot in the states economy will be the NaplesMarco Islandmetro market. This area will experience very strong growth in averageannual wage, and it will be one of few areas to experience positive housingstarts, says Snaith.

Throughout southwest Florida, job gains in healthcare, education andgovernment have largely offset the downward effect of construction, notesFishkind. Florida Gulf Coast University, Fort Myers, remains a major driver forthe regional economy.

From the real estate perspective, Loomis says, The areas phenomenal jobgrowth will stimulate net migration and long-term demographics, which inturn, will positively impact the housing market.


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Palm Beach/ Treasure Coast

One of the states most dynamic submarkets is northern Palm Beach County,which is beginning to enjoy the benefits of a growing biotechnologycluster focused on Scripps Florida in Jupiter .

Were beginning to see significant job-creation activity , says BradHunter, director, South Florida region, MetroStudy in Boca Raton. Its not thecavalry coming over the hill, but the biotech corridor will grow andcreate a solid foundation of high-wage jobs northward into St. LucieCounty and Indian River County. That will definitely enhance thelong-term value of residential properties.

http://www.workforceflorida.com/bcs/calendar_docs/biotech_handout_Board _Handouts_4-2-03.pdf

Also stimulating commercial development are new St. Lucie interchanges onthe Florida Turnpike and Interstate 95. Fishkind says more than 15 millionsquare feet of commercial space is planned along Becker Road in Port St.Lucie, including a 2 million-square-foot regional mall.

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If you look at the big suburban office nodes on I-95Fort Lauderdale,Cypress Creek, Boca Raton, West Palm Beach and PGA Boulevardyoull seethe next one will be in Port St. Lucie, he says. Some of the residentialbuilders got ahead of themselves, but the strength of demand and a drop innew construction will help absorb the excess inventory in 2008. This is amarket to watch for the future.

Along with new jobs and development, the region will also benefit from thetimeless appeal of its warm-weather lifestyle. As Marc Blasi, sales associatewith Luxury Homes Florida, Palm Beach, says, Unless people stopboating, fishing, playing golf or just lying on the beach, I think werepretty safe down here real estatewise .


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Indian River County, Fl. Real Estate Informationhttp://www.preconstructionprograms.com

64% Projected gain in home prices (5 year).

Median Home Price:2006 - $235,0002011 - $386,000

Population:2006 131,0002011 147,000

Per Capita Income:2006 - $44,4002011 - $51,200

Balmy weather, low property taxes, and a cost of living 3% lowerthan that of nearby West Palm Beach make this coastal town anaffordable alternative, with sandy shores and the best surfing on theeast coast .A Florida Atlantic University study says Indian River County and its two

closest neighbors will need a projected 154,000 homes during thenext 25 years to house the growing population and replace oldstructures. A Manpower Employment Outlook Survey predicts growth inconstruction, manufacturing, and real estate jobs too. Per capita incomegrowth closely shadowed that of Martin County, Floridas second wealthiest,and is gaining on that of Palm Bach County, the states richest.

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Is 'Net Powering Real Estate Recovery?

07 August 2008, 12:28by Cassimir Medford

Despite month-to-month vacillation in U.S. housing sales, the NationalAssociation of Realtors on Thursday said the housing industry may be inrecovery because gains in home sales in June were nationwide andcould be sustained by a recently-passed economic stimulus bill .

NAR, one of the largest trade groups in the U.S., said that the currentgrowth trend could be bolstered by a tax credit now available to first-time home buyers and a Federal law that makes it easier to securelower mortgages for more expensive homes.

But there is another less-obvious factor playing into the recovery. The easyavailability of real estate data on the Internet is changing consumerbehavior patterns, according to NAR, and that had some effect on thedownturn and it is influencing the recovery.

In the past people would buy a new home because they had an additionalchild or for some other life-changing reason, but people are now market-timing their purchases, said Lawrence Yun, NAR's chief economist. Thiscan affect both a downturn and a recovery.

Good and bad news now travels much faster and farther because evenhomeowners who are not planning to sell their homes are keeping tabs onboth the current value of their homes and the nationwide housing market.

There must always be caution when reading monthly data because of thebouncing around, but the June increase was much larger than recentmonths and given the availability of tax credits and lower interestrates, we believe it will be sustained , Mr Yun said.

Analyst Greg Sterling said that online real estate firms are having only amarginal effect on the economics of the industry, perhaps acceleratingconsumer trends, but the major trends are still being governed bydemand and supply.

The data available online may factor into consumer perceptions but themarket is moved by things like the availability of attractivefinancing, said Mr. Sterling, an analyst with Sterling Market Intelligence.

But over time the Internet will play a bigger role as consumerperceptions become more central to the economics of the real estatemarket .

Indian River County, the crown jewel of Florida's Treasure Coast ,

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enjoys an international reputation among vacationers and businessexecutives alike. With a quality of life unique even to Florida , IndianRiver County is where lifestyle and work style unite to create a highlyproductive and profitable environment.

Centrally located 75 miles south of the Kennedy Space Center and 135miles north of Miami , our 543 square miles contain beautiful beaches,immaculate ocean and river front communities and endless groves of renowned Indian River oranges and grapefruit.

Over 112,000 people reside in Indian River County, enjoying a climatemoderated by the warm tropical waters of the Gulf Stream. Balmy winterscombine with summers fresh ocean breezes to keep the averagetemperature a delicious 73 degrees , allowing residents to swim, golf, andplay tennis all year long.

In addition, the 26 miles of unspoiled beaches , the serene waterscapes of the Sebastian and Indian Rivers, and miles of pristine woodlands and fieldsprovide an endless array of recreational adventures . Free from urbansprawl and congestion, Indian River County offers the ideal setting forliving life to its fullest.

http://www.ircgov.com/Proj_Osprey.pdf

http://www.ircgov.com/Boards/BCC/2008/agendas/BCC042808AP.pdf

http://www.newpiper.com/piperjet/

In addition to its beaches and waters for swimming, scuba diving, boating,fishing, and other water sports, Indian River County's parks offer countlessopportunities for recreation and enjoying the outdoors. Five public golf courses allow for all levels of play and tennis facilities are widely available.Add Holman Stadium, the 6,500 seat Spring Training home of the Devil Rays,and a host of museums, theaters, restaurants, night spots, and shoppingareas, and you have the makings for an incomparable vacation.


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MSNBC - Video on Vero

Vero BeachThe City of Vero Beach is the county seat and the largest incorporatedmunicipality with an estimated population of more than 17,700. Greenery,open space, unspoiled beaches, and ocean vistas characterize this

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community which is the commercial and cultural center of the county.Originally a stop on the Florida East Coast Railroad, Vero Beach wasincorporated in 1910. The city is under a council-manager form of government. More information about the City of Vero Beach government canbe found at www.covb.org

Residents of Indian River County enjoy state-of-the-art medical care.Two full-service hospitals serve the area. Indian River Medical Centeris conveniently located in the central part of the county in VeroBeach. Sebastian River Medical Center is located in Sebastian. To ournorth in Melbourne is Holmes Regional Trauma Center, an affiliate of theUniversity of Florida Health Science Center, Jacksonville.

Indian River County welcomes inquiries from businesses seeking to relocate.More than one business has come to our area because the president, CEO, or

other officer visited here, recognized our unique environment, and decided torelocate.

Our ideal climate, wealth of recreational and cultural opportunities, widerange of housing options, and business relocation support make thetransition a pleasant experience for everyone. If you have any questionsplease contact our Economic Development Director [email protected]

ECONOMIC GARDENING - PROJECT GREEN JEANS

The Governor's Office of Trade, Tourism and Economic Development isexploring a pilot program for Florida's Research Coast region, which includesIndian River County. The link below will provide background information onthis Economic Gardening initiative, also referred to as "Project Green Jeans."Project Green Jeans gets its inspiration from Governor Crist's Blueprint forFlorida's Innovation Economy.

Once you have subscribed to Google Groups, click on "Background materials"to download a PowerPoint presentation and background information on thisinitiative. The site also encourages members to join in various discussiongroups and become an active participant in one of these discussiongroups/committees to discuss the next steps for our region to becomeFlorida's first Economic Gardening location.

Project Green Jeans

ECONOMIC DEVELOPMENT INCENTIVES

Below is a list of economic development incentives available to qualifiedtargeted businesses relocating to, or expanding in, Indian River County:

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Participation in the Florida Qualified Target Industry Tax Refund Program

Local Jobs Grant Program

Enterprise Zone Program tax benefits for businesses located within the Zone

Impact Fee Financing

Utility Deposit Waivers

Expedited permitting process

Availability of infrastructure with sufficient capacity (roads, water, sewer)

Availability of Industrial Revenue Bonds

Availability of job training and training grants through Indian RiverCommunity College

Assistance in acquiring federal or state grants (such as CommunityDevelopment Block Grants)

Qualified Target Industry Tax Refund Program

Business can receive a tax refund of up to $5,000 per new job created,$8,000 if located in the Enterprise Zone.

Business must pay an average wage of at least 115% of local average annualwage.

Business must create at least 10 new jobs in any of the states targetindustries. If an expansion, the expansion must result in at least a 10%increase in the businesss employment. The county provides 20% match of the total taxes refunded.

Local Jobs Grant Program

The Jobs Grant Program can apply to a company that creates 5 or more jobsin the countys target industries.

The salary or wage of each employee used to qualify the business for the jobs grant program must equal at least 100% of the countys average annualwage.

Bonuses for hiring county residents, for higher than average salaries, and forlocating in an Enterprise Zone. Maximum grant to an individual company is

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$500,000, except for the additional bonus to a business locating in anEnterprise Zone. Details of terms and conditions available on request.

Enterprise Zone Tax Benefits

Job Tax Credit on Sales Tax or Corporate Tax for new jobs created in theEnterprise Zone

Sales Tax Refund on building materials purchased for rehabilitation of realproperty, and on the purchase of machinery/equipment used in the Zone

Corporate Tax Credit based on increased ad valorem on improved realproperty

Impact Fee Financing Program

Allow financing of county-imposed Impact Fees up to six years for businesseslisted on the countys target industries list. Details of terms and conditionsavailable on request.

Waiving County Utility Deposit

The county will guarantee county utility deposits of up to $10,000(water and/or sewer) for businesses meeting eligibility

requirements. Details of terms and conditions available on request.

Indian River County, Florida Central to Where Your BusinessNeeds to Be

Indian River County is located on Florida's east coast , covering 543square miles of citrus groves, beaches, thriving commercial and growingindustry. Located 104.6 kilometers north of West Palm Beach and about twohours from Orlando, Indian River County is within three hours of 90% of Floridas population , with easy access to markets, yet far from urbansprawl, traffic and congestion.

Vero Beach, the county seat, has long been a popular resort area, attractingthousands to Indian River County and the array of recreational and

entertainment pursuits it offers. Indian River County's allure as a lightindustrial site is best demonstrated by the fact that virtually everycompany that has located has done so due to their CEOs positivevacation experience. Companies are also attracted to Indian RiverCounty because of our relatively low land costs and low labor costs,and the absence of a state income tax.

Local Industry

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As a partner in the Research Coast Economic Development Coalition, IndianRiver County represents a broad spectrum of industry. The New PiperAircraft, a leader in light aircraft manufacturing, has called Vero Beach homesince 1957. Macho Products, the largest U.S. producer of martial artsprotective gear, and Parker Products, the countrys leading manufacturer of custom hoses, are but a few of other nationally known and respectedcompanies located here. High tech firms like e-Merge Interactive and M.C.Miller Company, as well as scientific research entities such as Harbor BranchOceanographic Institute and Syngenta, bring the best and the brightestemployees to our area. A host of other well-known companies with facilitieshere include Ocean Spray Cranberries, the Los Angeles Dodgers and DisneysVero Beach Resort.

Infrastructure

The primary north-south highway through Indian River County is Interstate95. State Road 60 is the main east-west artery between Vero Beach and theTampa Bay area, with Floridas Turnpike just 30 minutes to the west. TheFlorida East Coast Railway provides freight service linking Indian RiverCounty to Miami in the south and all points north.

Vero Beach Municipal Airport is a full service Fixed Base Operator with a2133-meter runway. Catering primarily to private and corporate aircraft,charter service is also available to other Florida markets and the Bahamas.Daily commercial airline service direct to La Guardia and Atlanta is availableout of Melbourne International Airport, just 56 kilometers away.

CVS Pharmacy, a major U.S. pharmaceutical retailer, has recently

built a 37,161 square-meter facility in the new 181-hectare Indian RiverPark of Commerce, located on State Road 60 one mile west of I-95. TheParks central location for markets in Florida was cited as the major factor intheir decision to locate to Indian River County, plus the cooperation of localgovernment and local leadership. It was the best site geographically andeconomically, as stated by the companys site consultant.

Workforce/Training

Indian River Countys diverse workforce of 52,000 ranges from semi-

skilled to highly technical. Another 16,000 youngsters are beingprepared in our school system to eventually become productive members of the workforce through innovative programs in the countys diverse number of school choices.

Indian River Community College (IRCC) , a fully accredited and nationallyrecognized two-year institution, is known for its close relationship withthe business community in providing flexible training programs .

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IRCC, in conjunction with Florida Atlantic University, offers many 4-yeardegree programs as part of its innovative 2+2 Program.

For more information on locating your facility in Indian River County, Floridaplease visit our website at www.indianriverchamber.com

TESTIMONIALS ABOUT INDIAN RIVER COUNTYTestimonials from corporate executives will tell you first hand why IndianRiver County is an ideal choice when considering a corporate relocation.

The natural beauty, relaxed lifestyle and affluent atmosphere make it apopular alternative to busier vacation destinations.General Manager, Disneys Vero Beach Resort

Local people are often surprised to learn that the third largest privately-owned company in Florida is headquartered here in Vero Beach. In the high-profile corporate world it is nice to blend in and become part of thecommunitys ambience.Chief Financial Officer, George E. Warren Corporation

Recruiting and keeping a skilled workforce like ours is much easier in acommunity that offers such a satisfying quality of life. Also, Indian RiverCounty is easy to get in and out of which is important to us because ourdistribution and customer base is worldwide.President, The New Piper Aircraft

I have looked all over Florida the past five years for the ideal spot to relocatemy New Jersey-based test equipment manufacturing business. When Idecided on Vero Beach, the rest was easy. I quickly found the right locationand had no problem recruiting people.President, M. C. Miller Company

Imagine being a short drive from Floridas aerospace and defense center, yetfar from the congestion and hectic pace it creates.Vice President of Business Management, XL Vision

"I just fell in love with the area, I love the environmental consciousness.There can be no high-rises. There's no shadow on the beach at 3 p.m. I'm anature girl. I'm a turtle girl. I can't tell you how many times I've beeninvolved in a tug-of-war with crabs trying to take baby turtles away. Of course, I don't kill the crabs, but they know I mean business. I just lovebeing close to nature. That's why we're staying."Gloria Estefan, hotel, Costa D'Este

http://www.indianriverchamber.com/index.asp

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Vero Beach & Indian River County In The News

Money Magazine named Vero Beach one of the "Top Beach Towns"and one of "The Best Places to Live on the Coast."

Vero Beach was listed #7 of the best "emerging" areas according to the book Cities Ranked and Rated. Vero Beach was described as an"upscale beach community by Florida standards. "

Other accolades for Vero Beach includes a #1 rank as "the best smalltown in Florida and 12th in the nation" by America's Guide to Small

Towns. The artistic side of Vero Beach gained the town recognitionas one of the "top 10 art towns in the country."

http://www.mckeegarden.org/

http://indian-river.fl.us/living/cities/verobch.html

http://dvc.disney.go.com/dvc/guest/resorts/rentalResortLanding?id=VeroBeachResortRentalLandingPage&sourcecode=BEACHGOO&CMP=KNC-DVCVeroRentalsGoogle&HBX_PK=vero+beach+fl&HBX_OU=50

Vero Beach the Jewel of the Treasure Coast , is a gentle, sophisticatedand unpretentious town which, since 1948, has been the smallest city inthe nation to have its own professional baseball team the Dodgers .In recent years, this area has become home to Americas cultural andcorporate elite. Its a place where high level business deals are made on ahandshake during a round of golf new friends are easily met at the manyand diverse area activities and spirits are renewed through abundantrecreational opportunities available in this lovely tropical climate.www.affordable-custom-homes.com

Homey, yet casually elegant, Vero Beach and Indian RiverCounty attracts visitors and residents because of the culturalwealth and inherent natural beauty of the area. Vero Beach wasrated the Best Small Town in Florida & 12th in theNation and was named one of The 100 Best Art Towns inAmerica.

Strict building codes, a watchdog government, and anexceptionally high rate of charitable contributions &

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individual volunteerism contributes to the peaceful and idyllic lifestyle foundin Vero Beach and Indian River County.

Known as the Gateway to the Tropics ," Vero Beachis located in a climatic transition zone that offers anunusual mix of vegetation found in the coastal Carolinas ancient oak trees and pine forests blended with swayingpalms and colorful blooms typical of the tropics.

http://www.weather.com/weather/wxclimatology/monthly/graph/32963?from=36hr_bottomnav_undeclared

This area is also recognized as the 'Citrus Capital of theWorld ,' producing the finest Indian River citrus for the domesticmarket and worldwide export.

This quiet seaside village has evolved into an elegant and verysophisticated community that has been called the Florida Hamptons andthe New Palm Beach as it has become the playground of some of thewealthiest people in the world. It is the residential preference of moreretired Fortune 500 CEOs than anywhere else.http://www.verobeachbusinessdirectory.com/?current=one

The tropical climate allows a large diversity in vegetation with colorful florals,ancient oak trees, palms and a western landscape of pine forests as depictedin Bean Backus paintings. The natural beauty of Vero Beach captivatesvisitors and residents alike.

The pristine beaches along the Atlantic coastline offer wonderful sand,surf and breathtaking sunrises. Recreational opportunities include swimming,scuba diving, boating, fishing, surfing and other water sports. Beachgoerswill find several great family parks with playgrounds for the children andpavilions for grilling, and picnics. Ocean front dining is plentiful with bothindoor or outdoor choices for casual and fine dining.

Located at the northern end of the Treasure Coast , Vero Beach isapproximately 110 miles southeast of Orlando and 135 miles north of Miami.It consists of 13.1 square miles and has a population just a little over17,000.

CNBC news recently cited Vero Beach as the 2nd strongest realestate market in the country . Vero Beachs appeal extends to its excellentpublic and private school system, as well as a strong economy and vibrantbusiness and industry. The influx of research institutions is changingthe face of the job market.

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www.affordable-custom-homes.com

Visit our website, www.affordable-custom-homes.com , now.

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