I am in shock…..my poor parents……I guess a HUGE number of “Retirees” on “fixed” incomes are feeling the same way, as "many" retirees come to Florida to enjoy their next phase of their life....

..........of course there are full time residents that have been here their whole life & retired to stay here in the Sunshine State.

What if you woke up one day & your mortgage payment went up 28%….or let’s just say $700+ per month…. & it wasn’t because of the mortgage which is “fixed” like your income for the next 15, 30-40 years? It was your “escrow” items that do make up your monthly payment (in this case insurance) Yes, insurance went up approximately 27% with about 1% increase in property taxes. (my parents do have Homestead for both)

What if your salary had not gone up 28% & in fact it was “fixed” for the rest of your life, because you were retired (twice)??

What if most of your state had a majority of people on “fixed” income, or even yet “unemployed” or corporate cutbacks??

What if the property values had not gone up 28%…………..

What if this was at a point where you had enough to worry about just trying to keep up with your health & enjoy your latter years after all that hard work??

There is another economic blog I am going to post later, but just staying with this one subject ~ “how do you think this will impact our Housing market??”

Well this happened today, to my parents. I thought they had tabled it, & thought the powers to be were wiser of it because of the definite impact…..but I guess they didn’t.

http://www.culbertsonagency.com/state-farm-received-approval-for-18-8-rate-increase-on-florida-home-insurance/

This may be what sends us right over the economic edge here, at least in my region. We have a major corporation trying to cut 20% wages & lay off 13,000 employees, which will have a ripple affect in the next 2-12 months….but this is just a small portion compared to the Retirees here in Florida on “Fixed Incomes”, which consists of about 17-20% of our population.

Governor Scott - Really?? I ask the decision makers “Where does the Insanity end??!! I mean REALLY??!!””

Do you think that people can continue to pull it out of their derrière’s?

This is the tip of the iceberg, at least for Florida. Great job!!! Next will come in the next few months.

We had/have over approximately 2.9 million Senior people (as of 2004) that live/lived in Florida we are second to California who has/had 3.8 million residents as of July 2004 per the source below (courtesy of Senior Living)

http://seniorliving.about.com/od/lawpolitics/a/senior_pop_life.htm

As of 2010 we had a population in Florida of 18,801,310 with a growth of approximately 15% in the past decade. South Florida makes up almost 31% of the total State’s population & Miami Dade County having half of that 31%. The total population of the state has grown over 1 million in the past year. Senior Living residents make up about 17-20% of our population.

• I would say that in reality, 17-20% of our population would now be at risk with these changes of their escrow or monthly obligations??? 28% is a HUGE increase, no matter what level.

I will be writing to as many as I can about this matter, as I don’t feel that this political level has been very wise in looking out for our seniors? If anyone that would wish to contact Governor Scott about this matter, I have listed some information below, but…..it may be best to go to your Congressman.

　

Our Governor - Rick Scott

www.flgov.com/contact-gov-scott/

(850) 717-9337

http://www.stateofflorida.com/Portal/DesktopDefault.aspx?tabid=95

http://quickfacts.census.gov/qfd/states/12000.html

My parents are the most responsible people I know. They honor all they commit. They volunteer on several Federal Committees & serve hours without pay for retiree organizations & their credit union. My Mom worked another career after being forced into a “reduced” retirement from a government position & was fortunate to make another 13 years with the school board. Their intentions were to always move to a lesser expensive area that they liked, but the housing market went bust before my Mom could retire between health issues with my Dad & later she would experience. My Mom was weak at the knees today when they came home to open the mail & find this 28% increase!!!?? They both have some severe medical issues & simply looked towards a bit of enjoyment with the later years of life after working so hard. They were caught with their home when the market took the downward turn.

I am in shock…..my poor parents……I guess a HUGE number of “Retirees” on “fixed” incomes. I will, as my siblings work hard to try to see what we can do....but why do others place them in that position?? Why do they inflict their dignity?? You work your whole life under the guidelines you are given & plan accordingly only to have it ripped out from underneath you?? All from "greed".

How do these people get into office??? Where do others of power think that this money is going to come from as they continue to “reward” themselves??? So, you side with the top & let the other 80-90% suffer, be homeless, have ill health because your board of directors needed to make enough profit, fund their children’s private tuition, the $35million investment property for executives in a foreign country.

We had great service before & we seemed to manage. We have don’t have that much population to increase the expenses & if we do then they are contributing in multiple ways - sales tax, tourist tax, transient housing, tolls, tolls & more tolls, the Florida Lottery - not just property values.

My Mom’s question today was, “Are all states with catastrophic exposure paying the same severe increase??!”

(Example - the Gulf states of Texas, Louisiana, Mississippi, and Alabama. The tornado states like Oklahoma, Arkansas, Nebraska (Midwest). The earthquake prone) “Or are we the only ones bearing the burden?” She doubted they were because she didn’t feel their government thought they could afford it, and she didn’t know why ours could possibly??

How can this lunacy be stopped??!!

This week I have had a bit to think about, with a few other matters that are pretty big, and have vacillated from little shocks or surprises, to ANGER, to NAUSEA, to NUMBNESS………well the straw came today in the mortgage statement of my parents. I just don’t get it……”where do they think it is going to keep coming from???”

• What would you do if you woke up tomorrow & your mortgage (because of escrow went up 28%??
• What can we do to bring much of this insanity & imbalance under control.

There will be another economic message that has & will have a great impact - so many are so quick to place the blame..........

I look forward to your help and any feedback you may think that would be helpful. They are not alone & it will send (or has sent) another wave through the housing market.

For a personal tour of this wonderful neighborhood here in Port St Lucie, FL, please call Kevin B Tolbert, PA today, and to see current listings, please CLICK HERE.

And if you need to sell your home in Port St Lucie, FL, please www.SearchforSouthFloridaHome.Com is the only website you need to remember. We specialize in short sales and preventing foreclosure of your home, and if you qualify we can even get you cash back from your lender for relocation assistance at closing.

This is the latest Market Data for Port St Lucie, FL for Jan 2012.

Jan-12
# Months Inventory	6.56
# Active Listings	164
# Sold Listings	25
Absorption Rate	25

Please support local neighborhoods like Port St Lucie, FL and ourselves, Kevin B Tolbert, PA of Keller Williams Realty when you are looking to call Port St Lucie home and great communites like Port St Lucie, FL, Saint Lucie West, Tradition, Jensen Beach, Stuart, Palm City, Hobe Sound, or Sewell's Point.

If you are ready to call our beautiful area home, please call me today and we can make your real estate dreams come true. You can browse for homes on our website: Http://www.SearchforSouthFloridaHome.com.

If you are struggling with your mortgage and think you might be ready to short sale your home, please read my blog: Short Sale Specialist, and then call me for a personal and confidential consultation to discuss your situation.

If you are looking for the bargain of a lifetime, myself and my team are ready to help you navigate the shark infested waters of short sales and foreclosures to help you purchase more of a home than you ever thought possible with interest rates at historic lows and more wonderful deals than you can imagine such as our FEATURE NEIGHBORHOOD: Port St Lucie, FL.

Once you have visited for yourself, please use the comment section to say a few words about your visit and we will share your comments directly with the owners.

Thanks so much and God Bless.

Kevin B Tolbert, PA, GRI, CDPE

Keller Williams Realty of the Treasure Coast

1850 SW Fountainview Blvd Ste 300

St Lucie West, FL 34986

Direct: 772-834-0099

Email: kevinbtolbert@kw.com

Web: http://www.SearchforSouthFloridaHome.Com

Web: http://www.kevinBtolbertrealty.com

Blogs: http://www.kevinbtolbertpa.com

To see all our local listings please goto www.SearchforSouthFloridaHome.Com

To see all our statewide listings, please goto www.IsellPortStLucieLand.Com

To see all my blogs, please goto www.kevinbtolbertpa.com

For a personal tour of this wonderful neighborhood here in Port St Lucie, FL, please call Kevin B Tolbert, PA today, and to see current listings, please CLICK HERE.

And if you need to sell your home in Port St Lucie, FL, please www.SearchforSouthFloridaHome.Com is the only website you need to remember. We specialize in short sales and preventing foreclosure of your home, and if you qualify we can even get you cash back from your lender for relocation assistance at closing.

This is the latest Market Data for Port St Lucie, FL for Jan 2012.

Jan-12
# Months Inventory	4.55
# Active Listings	173
# Sold Listings	38
Absorption Rate	38

Please support local neighborhoods like Port St Lucie, FL and ourselves, Kevin B Tolbert, PA of Keller Williams Realty when you are looking to call Port St Lucie home and great communites like Port St Lucie, FL, Saint Lucie West, Tradition, Jensen Beach, Stuart, Palm City, Hobe Sound, or Sewell's Point.

If you are ready to call our beautiful area home, please call me today and we can make your real estate dreams come true. You can browse for homes on our website: Http://www.SearchforSouthFloridaHome.com.

If you are struggling with your mortgage and think you might be ready to short sale your home, please read my blog: Short Sale Specialist, and then call me for a personal and confidential consultation to discuss your situation.

If you are looking for the bargain of a lifetime, myself and my team are ready to help you navigate the shark infested waters of short sales and foreclosures to help you purchase more of a home than you ever thought possible with interest rates at historic lows and more wonderful deals than you can imagine such as our FEATURE NEIGHBORHOOD: Port St Lucie, FL.

Once you have visited for yourself, please use the comment section to say a few words about your visit and we will share your comments directly with the owners.

Thanks so much and God Bless.

Kevin B Tolbert, PA, GRI, CDPE

Keller Williams Realty of the Treasure Coast

1850 SW Fountainview Blvd Ste 300

St Lucie West, FL 34986

Direct: 772-834-0099

Email: kevinbtolbert@kw.com

Web: http://www.SearchforSouthFloridaHome.Com

Web: http://www.kevinBtolbertrealty.com

Blogs: http://www.kevinbtolbertpa.com

For a personal tour of this wonderful neighborhood here in Port St Lucie, FL, please call Kevin B Tolbert, PA today, and to see current listings, please CLICK HERE.

And if you need to sell your home in PGA Village Area of Port St Lucie, FL, please www.SearchforSouthFloridaHome.Com is the only website you need to remember. We specialize in short sales and preventing foreclosure of your home, and if you qualify we can even get you cash back from your lender for relocation assistance at closing.

This is the latest Market Data for PGA Village Area of Port St Lucie, FL for 2011.

Jan-12
# Months Inventory	0.00
# Active Listings	11
# Sold Listings	0
Absorption Rate	0

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Please support local neighborhoods like PGA Village Area of Port St Lucie, FLand ourselves, Kevin B Tolbert, PA of Keller Williams Realty when you are looking to call Port St Lucie home and great communites like Port St Lucie, FL, Saint Lucie West, Tradition, Jensen Beach, Stuart, Palm City, Hobe Sound, or Sewell's Point.

If you are ready to call our beautiful area home, please call me today and we can make your real estate dreams come true. You can browse for homes on our website: Http://www.SearchforSouthFloridaHome.com.

If you are struggling with your mortgage and think you might be ready to short sale your home, please read my blog: Short Sale Specialist, and then call me for a personal and confidential consultation to discuss your situation.

If you are looking for the bargain of a lifetime, myself and my team are ready to help you navigate the shark infested waters of short sales and foreclosures to help you purchase more of a home than you ever thought possible with interest rates at historic lows and more wonderful deals than you can imagine such as our FEATURE NEIGHBORHOOD: PGA Village Area of Port St Lucie, FL.

Once you have visited for yourself, please use the comment section to say a few words about your visit and we will share your comments directly with the owners.

Thanks so much and God Bless.

Kevin B Tolbert, PA, GRI, CDPE

Keller Williams Realty of the Treasure Coast

1850 SW Fountainview Blvd Ste 300

St Lucie West, FL 34986

Direct: 772-834-0099

Email: kevinbtolbert@kw.com

Web: http://www.SearchforSouthFloridaHome.Com

Web: http://www.kevinBtolbertrealty.com

Blogs: http://www.kevinbtolbertpa.com

It’s the big day.

The day you go to the title or escrow company, sign your name on the dotted line, hand over a check and prepare to take ownership of your new home.

It’s also the day that you and the seller will pay “closing” or settlement costs, an accumulation of separate charges paid to different entities for the professional services associated with the buying and selling of real property.

It’s too often a day filled with uncertainty and stress.

To help you better understand this confusing subject, the Land Title Association has answered some of the questions most commonly asked about title, closing and closing costs.

What services will I be paying for when I pay closing costs?

You will usually be paying for such things as real estate commissions, appraisal fees, loan fees, escrow charges, advance payments such as property taxes and homeowner’s insurance, title insurance premiums, pest inspections and the like.

How much should I expect to pay in closing costs?

The amount you pay for closing costs will vary; however, when buying your home and obtaining a new loan, an estimate of your closing costs will be provided to you pursuant to the Real Estate Settlement Procedures Act after you submit your loan application. This disclosure provides you with a good faith estimate of what your closing costs will be in the real estate process. An itemized list of charges will be prepared when you close your transaction and take title to your new property.

Can I pay for my closing costs in installments?

No, and it is easy to understand why. Many different parties will have fulfilled their responsibilities and be awaiting payment upon closing. The title or escrow company will disburse money to those parties, pursuant to the escrow instructions, when funds are available.

Will I be allowed to write a personal check to cover my closing cost?

Your closing funds should be in the form of a cashier’s check, issued by an institution from the state of your purchase, made payable to the title company or escrow office in the amount requested. A personal check may delay the closing or may be unacceptable to the title or escrow company. An out-of-state check could also cause a delay in your closing due to possible delays in clearing the check.

How much can I expect to pay for Title Insurance?

This point is often misunderstood. Although the title company or escrow office usually serves as a meeting ground for closing the sale, only a small percentage of total closing fees are actually for title insurance protection.

Your title insurance premium may actually amount to less than one percent of the purchase price of your home, and less than ten percent of your total closing costs. The title policy is good for as long as you and your heirs own the property with the payment of only one premium.

Why are separate owner’s and lender’s title insurance policies issued?

Both you and your lender will want the security offered by title insurance.

Your home is an important purchase, and you will want to be certain your home is yours, all yours. Title insurance companies insure your rights and interests in order to protect you against claims.

Your lender is looking to insure the enforceability of their lien on your property and marketability. What is meant by “marketability”? Local lenders will originate a loan here, and, often, sell it to an out-of-state investor. This investor, who may never see the property, needs to know that he has a valid and enforceable lien. Title insurance is the way of making certain. Without a current title policy, the loan is essentially unmarketable.

What does my Title dollar pay for?

Title insurers, unlike property or casualty insurance companies, operate under the theory of risk elimination.

Risk elimination can only be accomplished after an intensive period of risk identification.

Title companies spend a high percentage of their operating revenue each year collecting, storing, maintaining and analyzing official records for information that affects title to real property. The issuance of a title insurance policy is highly labor-intensive. It is based upon the maintenance of a title “plant” or library of title records, in many cases dating back over a hundred years. Each day, recorded documents affecting real property are posted to these plants so that when a title search on a particular parcel is requested, the information is already organized for rapid and accurate retrieval.

Trained title experts are able, with the aid of their extensive title plants, to identify the rights others may have in your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title. Before closing your transaction, you can seek to clear those encumbrances which you do not wish to assume.

The goal of title companies is to conduct such a thorough search and evaluation of public records that no claims will ever arise. Of course, this is impossible--we live in an imperfect world, where human error and changing legal interpretations make 100 percent risk elimination impossible. When claims do arise, title insurance companies have professional claims personnel to make sure that your property rights are protected pursuant to the terms of your policy.

To conclude, when you pay for your title insurance policy, you are paying for a team of professionals who have worked together to deliver you a title insurance policy which represents protection for your ownership of real property.

Who can I look for straight answers on Title, Closing, and closing costs?

Title or escrow company personnel are available to review and explain your title policy and your closing statement.