Marcela McCoy

There are expanded homeownership opportunities for veterans across America thanks to the Veterans' Benefits Improvement Act of 2008 recently signed by President Bush. According to the National Association of Realtors (NAR), the bill includes housing provisions for veterans who are already homeowners & those who aspire to homeownership.

There are 3 provisions in the legislation to help veterans during the current housing market:

* veterans who have fallen victim to risky subprime loans will find it easier to refinance their loans to safer, more affordable loans backed by the U.S. Dept of Veterans Affair (VA)

* extends VA loan limit increases through 2011 to help veterans living in high-cost areas

* VA can now offer adjustable-rate mortgages to veterans which makes homeownership more attainable for military families who often move more frequently than civilian families

Please contact the U.S. Department of Veterans Affairs for more information.

* The current conditions are still favorable for buyers here in Jacksonville Florida due to abundant inventory & continuing low interest rates.

* Buyers must keep in mind that the current conditions won't last indefinitely since research indicates that prices are stabilizing and in some cases increasing.

* Home ownership does continue to be a wise investment. The average return on a 5% downpayment over 10 years is usually 3 to 5 times greater than stock market returns according to the National Association of Realtors (NAR). Also, NAR concludes that real estate has delivered the most consistent positive return over any investment over the past 40 years.

* In conclusion, the ready, willing & able home buyer should buy now! Eventually this buyer's market will change and you do not want to look back & wish that you would have taken advantage of the great deals out there to buy your dream home, vacation home or investment property.

Please visit www.NEFAR.com and click on "Put Your Money Where Your Life Is" for more information.

* Job Growth is anticipated in the Jacksonville area. Jacksonville was ranked #26 in Forbes' 100 Best Cities for Jobs in 2008.

* The Florida Times-Union reported that a giant shipping company (Mitsui O.S.K.) will add 1800 new jobs to the Northeast Florida this year with approx 4,000 spin off jobs. There is another shipping company (Hanjin of Korea) that could have another terminal up and running in 3 years which would further strengthen Jacksonville's economy.

* According to the Florida Times Union, Deutsche Bank has chosen Jacksonville for a 1000-employee office which gives the city another high-impact addition to its financial services industry. The bank will fill out its employee hub by the end of 2011 with an average wage of $49,200.

*Financial News & Daily Record reports that Jacksonville's Mayor John Peyton gives high marks to the port, which he anticipates will play a vital role in the area economy over the foreseeable future, citing that completion of the Panama Canal Widening project in 2015 will quickly make the Jacksonville port the largest on the East Coast.

Please visit www.NEFAR.com and click on "Put Your Money Where Your Life Is" for more information.