Venice, FL

Property Update Report by Kari A. Battaglia

For more information please call (941)-270-1851

The report summarizes listings sold, as well as active/pending listings for Jacaranda West. Listings summarized in the following table are based on information from the Mid Florida Regional MLS and/or other MLS Services. Properties sold were not all listed by Coldwell Banker Residential Real Estate and were listed by various MLS participating offices. Please note that For Sale By Owner properties are excluded because they often do not represent the full value of what they could sell for when properly priced and exposed to a greater number of qualified buyers through a professional real estate agent. The most recent listings sold are shown in more detail below as they represent the best indication of change in property values.

Summary of Solds for Jacaranda West

11/06/09 1702 Sklar Ct 3/2 1976 $298,900 $260,000 -13.01% 51

11/10/09 1704 Reef Ct 3/2 1974 $149,900 $165,000 +10.0% 115

11/30/09 1132 Olga Ct 2/2 1981 $159,900 $159,900 0.00% 9

12/04/09 1811 Oakwood 3/2 1983 $288,500 $250,000 -13.34% 131

Summary of Activity for Jacaranda West

11/09/09-01/11/10 4 $224,300 17 $233,497 7 $171,671

09/09/09-11/09/09 8 $218,750 19 $248,297 9 $210,166

06/01/09 -09/28/09 11 $213,263 13 $243,208 10 $187,250

01/01/09 - 05/31/09 6 $188,417 n/a n/a n/a n/a

06/01/08 - 12/31/08 12 $190,441 n/a n/a n/a n/a

The number of properties available for sale in the Venice/Englewood area real estate markets are continuing to decline, down 33.2% from the same month one year ago; 3010 single family homes for sale to 2012, sales that are pending in the area are remaining strong for December 2009, up over 23.7% from one year ago; 2349 properties pending to 308 properties pending*: an indicator of buyers interest in the Venice/Englewood real estate market. Even though the number of homes available for sale in our area continues to decline, we are still in a Buyer's market. Our Venice Coldwell Banker Office did 40% more business for 2009 than in 2008.

We were expected mortgage rates to increase for 2010, from the 4% range in December to the 5% to 6% range first quarter of 2010. Currently my mortgage reps are quoting in the 5% range. We are still looking at historically low rates. Homebuyer tax credit will be expiring quicker than you know it and buying activity was predicted to increase as buyers capture tax credit before expiration. Buying activity has increased for the lower priced homes.

Contact Kari A. Battaglia, PA GRI SRES^® , licensed REALTOR® in Venice Florida at 941-270-1851 to list your home, answer general questions or to help you search for homes for sale in Venice Florida. I currently serve customers in Venice Florida, Englewood Florida, Nokomis Florida, South Venice, Laurel, Osprey and Casey Key and Manasota Key communities. As a private landowner, I also have Tennessee properties available in the Chattanooga area. Call or email me to receive a list of Tennessee properties available for sale.

Contact me by email at Kari@DiscoverVeniceRealEstate.com. Need information fast, call me direct at 941-270-1851. Copyright©2009. By Kari A. Battaglia PA. All Rights Reserved.

DiscoverVeniceRealEstate.com - FREE MLS Search, Buyers guide, Sellers guide, Community Info/Links

Venice Golf & Country Club Property Update Report by Kari A. Battaglia

For more information please call (941)-270-1851

The report summarizes listings sold, as well as active/pending listings for Venice Golf & Country Club. Listings summarized in the following table are based on information from the Mid Florida Regional MLS and/or other MLS Services. Properties sold were not all listed by Coldwell Banker Residential Real Estate and were listed by various MLS participating offices. Please note that For Sale By Owner properties are excluded because they often do not represent the full value of what they could sell for when properly priced and exposed to a greater number of qualified buyers through a professional real estate agent. The most recent listings sold are shown in more detail below as they represent the best indication of change in property values.

Summary of Sold Listings for Venice Golf & Country Club

06/05/09 407 Huntridge Dr 4/3.1 1993 $595,000 $555,000 -6.72% 420

06/30/09 313 Lansbrook Dr 3/2 1994 $299,900 $240,000 -19.97% 239

08/04/09 319 Lansbrook Dr 3/2 1995 $249,900 $250,000 +0.1% 83

08/14/09 411 Wellington Ct 3/3 1992 $379,000 $320,000 -15.56% 301

08/14/09 411 Lansbrook Dr 4/3 1996 $539,000 $480,000 -10.94% 296

09/15/09 513 Summerfield 3/2 2001 $275,000 $276,000 +0.03% 122

09/18/09 397 Autumn Chase 4/3 1994 $598,000 $560,000 -6.35% 119

09/25/09 421 Autumn Chase 4/3 2005 $675,000 $638,000 -5.48% 18

09/30/09 232 Vestavia Dr 3/3 1991 $295,000 $266,500 -9.66% 478

11/16/09 332 Melrose Ct 3/2 1995 $287,000 $265,000 -7.66% 52

12/17/09 321 Lansbrook Dr 3/2 1995 $227,900 $216,450 -5.02% 124

12/28/09 215 Vestavia Dr 3/2 1991 $260,000 $240,000 -7.69% 416

12/28/09 415 Fieldstone Dr 4/3 1993 $495,000 $445,500 -10% 483

12/30/09 479 Summerfield 3/23 1992 $499,000 $460,000 -7.81% 330

Summary of Activity for Venice Golf & Country Club

06/01/09 -12/31/09 14 $372,317 48 $389,162 2 $329,499

01/01/09 - 06/01/09 2 $265,000 n/a n/a n/a n/a

06/01/08 - 12/31/08 12 $381,100 n/a n/a n/a n/a

The number of properties available for sale in the Venice/Englewood area real estate markets are continuing to decline, down 33.2% from the same month one year ago; 3010 single family homes for sale to 2012, sales that are pending in the area are remaining strong for December 2009, up over 23.7% from one year ago; 2349 properties pending to 308 properties pending*: an indicator of buyers interest in the Venice/Englewood real estate market. Even though the number of homes available for sale in our area continues to decline, we are still in a Buyer's market. Our Venice Coldwell Banker Office did 40% more business for 2009 than in 2008.

We are expected mortgage rates to increase for 2010, from the 4% range in December to the 5% to 6% range first quarter of 2010. Currently my mortgage reps are quoting in the 5% range. We are still looking at historically low rates. Homebuyer tax credit will be expiring quicker than you know it and buying activity was predicted to increase as buyers capture tax credit before expiration. Buying activity has increased for the lower priced homes.

Contact Kari A. Battaglia, PA GRI SRES^® , licensed REALTOR® in Venice Florida at 941-270-1851 to list your home, answer general questions or to help you search for homes for sale in Venice Florida. I currently serve customers in Venice Florida, Englewood Florida, Nokomis Florida, South Venice, Laurel, Osprey and Casey Key and Manasota Key communities. As a private landowner, I also have Tennessee properties available in the Chattanooga area. Call or email me to receive a list of Tennessee properties available for sale.

Contact me by email at Kari@DiscoverVeniceRealEstate.com. Need information fast, call me direct at 941-270-1851. Copyright©2009. By Kari A. Battaglia PA. All Rights Reserved.

DiscoverVeniceRealEstate.com - FREE MLS Search, Buyers guide, Sellers guide, Community Info/Links

Guest Blogger - Lena Reid, BB&T Bank AVP, Mortgage Loan Officer

FHA Property Flipping Rules -(Temporary Policy Change)

HUD is taking action to expedite the sales of foreclosed properties to new homebuyers.

FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. Effective with Purchase Contracts dated on and after February 1, 2010, the 90 day Property Flipping Rule will not apply.

This policy is temporary ONLY and has very strict conditions (SEE BELOW) to assure against predatory practices. (Change is effective for a 1 year period unless otherwise extended or withdrawn by the FHA Commissioner.)

This policy change will permit homebuyers to use FHA-insured financing to:

• Purchase HUD-Owned Properties

• Bank Owned Properties

• Properties Resold through Private Sales

Must meet the following conditions:

• All transactions must be arms-length, with NO identity of interest between the buyer and seller or other parties participating in the sales transaction.

• In cases in which the sales price of the property is 20 percent or more above the seller's acquisition cost, the waiver will only apply if the lender meets specific conditions.

Specific Conditions are:

a) Must justify increase in value by supporting documentation and/or a second appraisal which verifies that the seller has completed sufficient legitimate renovations, repair or rehabilitation work on subject property to substantiate the increase in value. In Cases where no work performed, Appraiser to provide explanation of increase since prior title transfer.

AND

b) A satisfactory property inspection prepared by a qualified inspector and provided to purchaser prior to closing. The borrower or seller can be charged a reasonable and customary

inspection fee for this service. Inspections can be done by FHA approved inspector, a licensed

home inspector or registered engineer. The inspector may have no interest in the property or relationship to the seller.

Lena Reid | BB&T Bank AVP, Mortgage Loan Officer | Office: 941- 492-2623 | Toll-free: 888-493-0300 | 1580 Jacaranda Blvd, Venice, FL 34293 | LReid@BBandT.com

Guest Blogger - Lena Reid, BB&T Bank AVP, Mortgage Loan Officer

FHA CURRENTLY HAS NO APPROVED CONDO PROJECTS - ALL PREVIOUS APPROVALS HAVE BEEN ELIMINATED!

Due to recent announcements in the industry concerning condominiums, no previously approved FHA projects will be accepted for any loans!

This change is effective with new applications on and after February 1, 2010.

Discontinuance of FHA-Approved Condominium Projects

It was announced by Fannie Mae and VA recently and by Freddie Mac today that the practice of accepting FHA-Approved condominiums on loans sent for purchase or guarantee is discontinued.

As a consequence of the above - we must no longer accept FHA-Approved condominiums for ALL LENDING products, including but not limited to Conventional, all Government (except for FHA, of course, as noted above), CHIP, Non-Conforming, AND Housing Agency loans.

In essence, all loans may no longer use the FHA-Approved Condominium list from FHA Connection and all loans involving condominiums must follow the published investor requirements for condominium approval, certification as usual.

We must continue to give due diligence in the review of all condominium projects - related to their constituent documents:

• minimum insurance requirements
• appraisals
• condominium project analysis
• Connventional, FHA, VA, USDA lending requirements, any separate Housing Agency or Third Party Servicer requirements.

Lena Reid | BB&T Bank AVP, Mortgage Loan Officer | Office: 941- 492-2623 | Toll-free: 888-493-0300 | 1580 Jacaranda Blvd, Venice, FL 34293 | LReid@BBandT.com

Contact Kari A. Battaglia, PA GRI SRES^® , licensed REALTOR® in Venice Florida at 941-270-1851 to list your home, answer general questions or to help you search for homes for sale in Venice Florida. I currently serve customers in Venice Florida, Englewood Florida, Nokomis Florida, South Venice, Laurel, Osprey and Casey Key and Manasota Key communities. As a private landowner, I also have Tennessee properties available in the Chattanooga area. Call or email me to receive a list of Tennessee properties available for sale.

Contact me by email at Kari@DiscoverVeniceRealEstate.com. Need information fast, call me direct at 941-270-1851. Copyright©2009. By Kari A. Battaglia PA. All Rights Reserved.

DiscoverVeniceRealEstate.com - FREE MLS Search, Buyers guide, Sellers guide, Community Info/Links

You may find this hard to believe and while it has a moral, of some sorts, I don't know what it might be?

Up in the top drawer of our Hi-Boy Chest of Drawers resided 5 of my favorite sweaters, the garments that we use on about 10 occasions all winter long down here in Paradise. Of the 5, I used 1 or 2 most years and never the others. DUH, it finally donned on me to donate 3 of them to the Goodwill folks, who do so much good in all of our communities, right? What motivated me was the receipt of a really nice oversized one for Christmas, and it needed a "home".

So, I had a good time unfolding, holding up and refolding each sweater as the selection process continued on. I finally settled on the 3 "winners" and noticed that there was a couple of under-shirts in the corner of the drawer. Upon lifting those shirts and aiming them at the Goodwill bag, I received my reward for kindness and sharing.

THREE 50 DOLLAR BILLS GREETED MY VERY SURPRISED HAND!!! Of course, I right away wondered why my wife would have hid them there, but in reality it was probably me, many "moons" ago. One of the 50's was an old one of the vintage that you don't see any more.

Well, is that a PAY IT FORWARD from the sweaters or is it not? Why had I taken maybe 10 years to rearrange, let alone donate, those top drawer items? Most of us surely have clothes that could do daily good for many others in our communities. And, it makes room for other things that don't have a "home" in our homes. Moreover, there just might be "Gold in Them Thar Drawers". This month I am going to rearrange and donate from the second drawer from the top, and see what my wife has hidden therein!!!