The official track takes a would-be Category 3 hurricane through the Yucatan Channel and into the central and northern Gulf through the holiday weekend. Looks like Florida we not be in the path of this storm but it does look to be heading straight for New Orleans and I hope that's not the case.
Again reminder if your closing on a property make sure to secure your Homeowner's Insurance before your area is considered within "The Box" of the storm.
ECONOMY
There were glimmers this week that the housing crisis has hit bottom. The decline in home prices is starting to ease and, in some cities, values are rising again. Existing home sales rose slightly, and the glut of newly built homes fell to a five month low. "The bottom of the housing downturn is coming into view," says Moody's Economy.com Chief Economist Mark Zandi.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-082708.cfm
FLORIDA CONSUMER CONFIDENCE
Happier days are here again. Consumer confidence among Floridians made huge gains in August, rising six points to 67 from its revised July index, suggesting a turning point amid signs that housing prices are stabilizing, according to the UF economists who conducted the study.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-082708.cfm
HOME SALES
Single-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida's housing sector, according to FAR's latest housing statistics. NAR also reported that national existing-home sales rose in July to the highest level in five months.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-082508.cfm
VA LOANS
The Department of Veterans Affairs (VA) is raising ceilings on its no-downpayment home loans from the current $417,000 to as much as $729,000. The increases are effective immediately under legislation recently enacted under the Housing and Economic Recovery Act of 2008.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-082508.cfm
MORTGAGE RATES
Rates on 30-year mortgages, which averaged 6.47 percent this week, fell slightly to the lowest level since mid-July.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n4-082208.cfm
FANNIE AND FREDDIE
A government rescue of Fannie Mae and Freddie Mac could be costly for scores of investment, banking and insurance companies that hold billions of dollars in the mortgage finance giants. "There's enormous investor concern," says Bert Ely, an Alexandria, Va. banking industry consultant.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-082208.cfm
Look at all the activity in Pebblebrooke Lakes, most have now sold since April 2008 just look at the charts below.
Last 14 homes that have SOLD since April 2008 in Pebblebrooke Lakes.
| $282,000 | 399 BURNT PINE DR | PEBBLEBROOKE LAKES | 4 Bed | 3 | 0 | 2,581 | 2001 | 4/3/2008 | |
| $350,000 | 377 SWEET BAY LN | PEBBLEBROOKE LAKES | 3 Bed | 2 | 1 | 1,804 | 2002 | 4/8/2008 | |
| $365,000 | 265 SHELLSTONE CT | PEBBLEBROOKE LAKES | 4 Bed | 2 | 0 | 2,432 | 2001 | 4/10/2008 | |
| $200,000 | 8546 SILK OAK LN | PEBBLEBROOKE LAKES | 2+Den | 2 | 0 | 1,955 | 2002 | 4/14/2008 | |
| $343,000 | 382 BURNT PINE DR | PEBBLEBROOKE LAKES | 4+Den | 3 | 0 | 2,949 | 2001 | 4/25/2008 | |
| $325,000 | 194 BURNT PINE DR | PEBBLEBROOKE LAKES | 4+Den | 3 | 0 | 2,664 | 2001 | 5/22/2008 | |
| $300,000 | 131 BURNT PINE DR | PEBBLEBROOKE LAKES | 3 Bed | 2 | 0 | 1,905 | 2004 | 6/2/2008 | |
| $322,000 | 333 SPIDER LILY LN | PEBBLEBROOKE LAKES | 4+Den | 3 | 0 | 2,900 | 2002 | 6/6/2008 | |
| $295,000 | 8427 HOLLOW BROOK CIR | PEBBLEBROOKE LAKES | 3 Bed | 2 | 0 | 1,883 | 2000 | 6/25/2008 | |
| $290,000 | 125 BURNT PINE DR | PEBBLEBROOKE LAKES | 4 Bed | 3 | 0 | 2,418 | 2004 | 6/26/2008 | |
| $325,000 | 326 BURNT PINE DR | PEBBLEBROOKE LAKES | 4+Den | 2 | 1 | 3,104 | 2004 | 7/1/2008 | |
| $399,900 | 245 BACKWATER CT | PEBBLEBROOKE LAKES | 4+Den | 4 | 0 | 3,450 | 2003 | 7/2/2008 | |
| $309,000 | 370 BURNT PINE DR | PEBBLEBROOKE LAKES | 4 Bed | 3 | 0 | 2,674 | 2003 | 8/4/2008 | |
| $395,000 | 180 SKIPPING STONE LN | PEBBLEBROOKE LAKES | 4+Den | 3 | 0 | 2,732 | 2000 | 8/8/2008 |
This community is ideally Located in North Naples, Florida, this gated oriented community has a 4,000 sq ft clubhouse, large pool with waterfall, fitness room, two childrens playground, basketball and lighted tennis courts. You can also enjoy the fishing lake or enjoy the park like setting as you take an evening stroll to meet the neighbors.
Never forget the convenience of living in North Naples: nearby Gulf beaches, golf courses, shopping, restraints, excellent schools, medical facilities and places of worship.
For more info on properties For Sale in Pebblebrooke Lakes feel free to call or email me, you'll be glad you did.
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