Amanda Wilson

Ok....I'm a positive person (one must be when venturing in real estate these days)....I read positive books, try to keep a good attitude and help my friends 'keep the faith.'

I rarely say what I truly feel...as I'm always trying to stay positive.

Get ready...cuzz here it comes....

The Recession is over...not quite...unemployment nationally is 10% with many states at a much higher percentage (California and Michigan, only to mention a few)...I do not believe much will happen until people have jobs...period!

The good news is...Banks are doing well....Goldman Sachs earns $3.19B--beating estimates--just a year after surviving the financial crisis with billions in federal aid. And isn't is great that Goldman Sachs will now contribute $200M to it's foundation, which promotes education. "Although the world continues to face serious economic challenges, we are seeing improving conditions," said Chief Executive Lloyd Blankfein. Naturally, Goldman has not disclosed how much it has set aside for it's annual bonus pool! However, Goldman Sachs did say they have earmarked $5.35 BILLION in compensation and benefits, an increase of 84% from the year earlier--putting it on course for a RECORD PAYOUT to its executives by the end of 2009. By paying the bonuses, the bank says it is 'being fair to our people who have done a remarkable job." Are they serious?

JP Morgan Chase reports a strong profit of $3.6B--they say that they are 'benefiting from a turn in the economy." I ask, WHAT TURN?

There is very little doubt that the housing market and the economy remain weak.

The number of foreclosure filings hit a record high in the third quarter, despite government and lender support--which can be difficult to find. During this time, 937,840 hones received a foreclosure letter--this means (via RealtyTrac) ONE in every 136 U.S. homes were in foreclosure. And foreclosures will continue to linger and home prices will continue to decline!

The deep decline in home prices has left nearly ONE in 6 U.S. homeowners owing more on their mortgage than the home is worth! Homeowners are underwater and this will continue as home prices decline--and likely means more eventual foreclosures.

As far as seniors go--there will be NO cost-of-living increase for 57 million social security beneficiaries next year because consumer prices have fallen! This marks the first time that social security benefits have not increased year over year since the cost-of-living adjustment was put into effect in 1975. President Obama is calling on Congress to send another $250 relief payment to seniors. Calling on Congress? $250?

Lastly, what does Sheila Bair have to say about the FDIC--The FDIC will likely stay in the RED through 2012. Bair says the fund has coe under severe strain in recent months amid the recent surge in bank failures. 98 banks have failed so far this year! Bank failure costs are expected to reach $100B over the next four years.

OK...that's the world as I see....You can dispute it, say I'm harboring negative energy--but these are the facts! I THINK IT IS TIME THAT OUR ECONOMY WORKS FOR EVERYONE AGAIN!

Below please find a real estate market chart update for all single family homes and condo in Fort Lauderdale. As you will note, inventory has dropped 30.9% in the last 15 months. Sales of all Fort Lauderdale condos and homes have increased by 28.3% in the last 15 months. Currently, we have a 14.1 months supply of properties on the market in Fort Lauderdale. The $8,000 tax credit for all first-time home buyers that qualify will expire November 30, 2009; however, we believe it will be extended at the last minute! FHA loans make up over 40% of the market--and the 203K FHA Renovation loan is a great program for those buyers that purchase fixer-uppers.

*** Publisher's Note ***:
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Facts and TrendsTM
Published Sep. 2009
Location : Ft Lauderdale Beach , Ft Lauderdale North East , Ft Lauderdale North West , Ft Lauderdale South East , Ft Lauderdale South West
Number of Homes For Sale vs. Sold vs. Pended (Jun. 2008 - Aug. 2009)
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
All Res. Proptypes - All Properties		Prepared for you by: Amanda Wilson, PA

	1 month	1 year	15 months
	July 09	Aug 09	% Change	Aug 08	Aug 09	% Change	June 08	Aug 09	% Change
For Sale	4762	4583	-3.8%	6275	4583	-27%	6637	4583	-30.9%
Sold	361	326	-9.7%	255	326	27.8%	254	326	28.3%
Pended	496	521	5%	276	521	88.8%	275	521	89.5%

Facts and TrendsTM
Published Sep. 2009
Location : Ft Lauderdale Beach , Ft Lauderdale North East , Ft Lauderdale North West , Ft Lauderdale South East , Ft Lauderdale South West
Months of Inventory based on Closed Sales (Jun. 2008 - Aug. 2009)
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
All Res. Proptypes - All Properties		Prepared for you by: Amanda Wilson, PA

	1 month	1 year	15 months
	July 09	Aug 09	% Change	Aug 08	Aug 09	% Change	June 08	Aug 09	% Change
Months of Inventory (Closed Sales)	13.2	14.1	6.8%	24.6	14.1	-42.7%	26.1	14.1	-46%

Since over 40% of today's loans are FHA--the 203K Renovation Loans really do work in today's real estate market!

What is the FHA 203K Renovation Loan Program--it's financing with all the fixings. You acquire the loan to buy the property and money to repair the property, as well--all in a single mortgage transaction. Loan amounts are based on improved property values and buyers can make improvements right after closing. All work must begin within 30 days of the loan closing and must be completed within the first 6 months. Renovation costs are spread throughout the mortgage term. These loans are available for single family homes with a purchase price up to $423,750 (includes renovations). A home buyer can borrow from $5,000 to $35,000 for renovations.

With so many foreclosures and short sales on the market--and many of these in need of appliances, new roofs, etc., this may be the best loan to get needed improvements done!

Here's what a buyer will need to do:

• Consult with a mortgage person to determine if the renovation program will meet their needs.
• Apply for a Purchase and Renovate Loan--providing credit documentation as requested. Review loan process and sign application documents. Review the contractor's package and copy of renovation disclosures.
• Upon credit approval, you will receive a pre-approval letter and a renovation specialist will contact you to discuss approval conditions and the process.
• Once you choose a property and execute purchase agreement, inspections will be scheduled by your realtor. Your home mortgage person will assign a HUD-certified consultant to you to determine the scope of work involved with the property.
• YOU select the contractor and provide a contractor's packet. Upon completion, the contractor returns the packet to the mortgage lender.
• The scope of the work is reviewed and accepted by all parties--you, your consultant, your contractor and your lender.
• The approved scope of the work is sent to an appraiser who inspects the property and determines its after-improved value.
• Final loan approval is issued after the scope of the work, appraisal and loan commitment conditions are reviewed and approved.
• You obtain the homeowner's insurance, the title is received, final figures are established and the closed documents are signed.
• Renovations must begin within 30 days of closing, cannot stop for more than 30 days and must be completed within the agreed-upon time frame--not longer than 6 months.
• As work is completed, inspections are made by HUD-certified consultant, funds are requested and disbursed.

And now, you can enjoy your newly-renovated home!

Everyone is talking about Rep. Joe Wilson, Serena Williams and yes, even kanye West recent outbursts--how they were just plain rude (Impulse Control Disorder)...In today's article in the "Los Angeles Times" (see below link), writter Robin Abcarian depicts a society, through historical events, that begins to gradually question authority which ultimately leads to rude behavior. It's a fascinating read!

Are these outbursts a general collapse of manners or are these people just wanting to be noticed? There are many theories. Have we indulged ourselves in emotions--from how kids treat their parents to how students treat their teaches and all the way up the line--to the President of the United States.

As a realtor in Fort Lauderdale, after showing clients 80 or more homes and they are still not ready to buy, an outburst from me would not further my success. It's a world of fast, fast, fast and instant gratification...everyone wants it now and wants it their way.

I suggest we all practice the art of patience--

http://www.latimes.com/news/nationworld/nation/la-na-civility16-2009sep16,0,6251412.story

Having attended many of Tony Robbin's seminars--and having found them to be incredible, please allow me an opportunity to summarize 5 Calls for Action:

1. MANAGE FRUSTRATION--Learn to manage it and how to use it. A negative attitude wipes out any positive action...Try this--Try to turn your Frustration into Fascination--just give it a try.

2. LEARN TO MANAGE REJECTION--I know--this isn't easy!

3. HANDLE FINANCIAL PRESSURE--Visualize the abundance in your life and wallet!

4. LEARN TO HANDLE COMPLACENCY--Move beyond your comfort zone! Push yourself....

5. ALWAYS GIVE MORE THAN YOU EXPECT TO RECEIVE--This is a key component!

LIVE WITH PASSION!

http://www.youtube.com/watch?v=Cpc-t-Uwv1I

Amanda Wilson, Fort Lauderdale Realtor

www.AmandaSellsFL.com