About Nassau County, FL

It's that time of year again....Halloween!! Below are a few of the local happenings in the Nassau County, FL area:

Goustly Tours are available at the Amelia Island Museum every Friday @ 6 p.m. Price is $10.00 for adults and $5.00 for students active military. For more information call 261-7378 ext. 105.

Saturday Tour is @ 2:00 for a ghostly version of the Eight Flags Tour - price is $7.00 for adults and $4.00 for students and active military.

Haunted Pub Crawl is every Thursday during October - price is $25.00 - must be 21 or older to participate - Call 261-7378 ext. 105 for reservations.

7th Annual "Holler for a Dollar" is presented by The Florida State College at Jacksonville, Nassau Outdoor Education Center, 76346 William Burgess Blvd. in Yulee. Haunted House, Haunted Hayride and Haunted Forest. October 30th and 31st @ 7:30-11:00. $2.00 per event or $5.00 for all three.

Looking for a great reason to visit Amelia Island? Try this event that's only 30 minutes away:

Jacksonville Sea & Sky Spectacular
November 6-8, 2009
Jacksonville Beach Oceanfront
Free Admission

Join the City of Jacksonville, Naval Station Mayport and City of Jacksonville Beach, City of Neptune Beach and City of Atlantic Beach as the skies and waterways of the First Coast are transformed into the backdrop for the most exciting air acts and military demonstrations in the world!

This free event features a dynamic over-the-ocean
sky show highlighted by the world-famous United States Navy Blue Angels along with other military and civilian flight teams, live entertainment and a street festival featuring static displays of aircraft and military vehicles, simulators, recruitment booths, and kids area and Meet The Performers Autograph Sessions.

In addition, the Sea and Sky Spectacular will also be encompassed within the City of Jacksonville's Week of Valor to celebrate and honor all military branches throughout the community. Week of Valor components will include events held in downtown Jacksonville as well as Naval Station Mayport.

As the tax credit deadline gets closer, I have a little bit of good news for our military clients serving (or having served) overseas. The House of Representatives voted unanimously Monday to extend the deadline for the home buyers' tax credit for one group of Americans.

HR 3590 will allow eligible military personnel and foreign service and intelligence officers to apply for the $8,000 tax credit for one year beyond its current November 30 deadline. Those meeting the underlying requirements for the credit must also be serving overseas or have spent at least 90 days deployed outside of the country during the current calendar year. It is expected that about 350,000 military personnel and an unknown number of federal employees may be affected by the new law.

The bill, introduced by Representative Charles Rangel (D-NY) because it was thought that families serving overseas were being passed over for this one-time opportunity to purchase a home. It passed the Housed passed with 416 votes and 16 abstentions.

It is anticipated that the bill will also be approved by the Senate, but it is not law yet.

Richard

See my WEB site: www.ameliaislandresidences.com

May 13 , 2009, 6:30 AM PST

National Average Fixed Rate Mortgage
Down 1 basis points at 4.91% on 05-12-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Down 4.0 basis points to 4.379%

Lock Advice: Float
Rates moved in a narrow band for the past two weeks and the current small upswing has topped and is pointed down.

DJI Stocks Opened 8,314.75 -104.02 -1.24%

European and Asian Markets Down 1.75%

10 Year Treasury currently 3.12%

Nymex Crude Oil $ 58.82 barrel, Down $0.03

http://www.yourfhaguru.com Your source for current Lending news and information

FHA Allows Advances on $8,000 Tax Credit
Yesterday, (May 12) the government gave the green light to the financing of bridge loans of up to $8,000 to first time home buyers who qualify for tax credits under the Obama Administration's economic stimulus plan.

Fannie MBS Issuance Hits Highest Mark Since 2003

Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume.

1st Quarter Residential Loan Originations Jump 36%

Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.

How To Apply For $8,000 First Time Buyer Tax Credit
Up to a $8000 Tax Credit is available from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

Wow. What a strong month for our office! We wrote about 15 contracts and continue to be strong in the residential market. Lots of value in the Amelia Island and Fernandina market. Recently put 2 homes in North Hampton under contract an one has already closed. Added several new listings on the Island, including a home on 14th street for $158,000, a condo at Ocean Park for $318,000, and am planning on picking up a listing agreement today for a home just off Island for $165,000k.