Sharon Fleming, Realtor® Port St Lucie~Florida

While watching CNN **my life line :) I heard something that I have to 100% disagree with. I REALLY would like to get your opinion on this one!

CNN Analysist state that Home Builders should stop all building until the Foreclosures/Short Sales/Vacant homes are absorbed by the current market. Stating that if they keep building it is a hinder to boosting the economy and clearing up the Real Estate Market that is such a burden on our economy.

Well I have to disagree, my take on it is this:

Home Builders are essentially helping to move the economy along, what do they give: A LOT! They produce jobs, Home Inspectors, Electricians, Plumbers, Landscapers, and sooo many more. Not to mention that most of the builders already have the land to build on and just sitting there with empty lots isnt doing any good for them either, they have to feed their families as well.

I feel that if it all stops there are so many people without jobs already, what would this to, it would halt the buyers all together. Maybe they can produce smaller floor plans, negotiate prices, afterall a little piece of the pie is better than no pie...right? Builders just need to get creative, offer some incentives, sweeten the deals a little. I just think that if they stop building all together it would be a shift in the wrong direction. Our economy is already at an all time high of unemployment and doing this would only make things worse...In my opinion that is....What do you think?

Sharon Fleming

I posted a blog a couple of weeks ago stating that some Homeowners are purposely defaulting on their loans to get a piece of the "Bailout Pie". Well listening to CNN last night, they stated that fact: Homeowners ARE defaulting on their loans to try and get some sort of break. As stated on CNN the criteria to even be considered for any type of assistance is getting more difficult. My thought is this: Why not hold the homeowners responsible, dig a little deeper to see if they lied in the first place to get the loan, I heard that the loans are being dubbed the N.I.N.J.A. loans, No Income No Job Applicants. Bailing out the sub-prime borrowers may seem like it is the right thing to do, but is it really? Do they need to be awarded a lower interest rate, a lower payment, a price reduction on their homes, paid for by you and I by the way, or should they be held responsible as well, now I am NOT cold hearted and think that NO ONE deserves this, I KNOW there are those that were victims of predatory lenders, and they may have genuinely fell on hard times, lost a job, divorce, etc. I do feel there are those that do need the help. But we are not only bailing out the homeowner we are bailing out the lender as well. I am not deluded into believing that most of these borrowers knew exactly what they were getting themselves into, and now we have to clean up the mess. IF it can be cleaned up at all!

For those of you like me, a financially responsible citizen, the moral issues that lie within are paramount in this economy, we have to hold ourselves to a higher standard and not follow suit like the rest, we keep making our payments and we keep working for the mighty dollar so that in the end, we can have pride in knowing we helped "Bailout" our fellow Americans. I think we can take pride in that!

God Bless....

Sharon Fleming

We're Having A Recession

Ok so they say were having a RECESSION but NOT a Depression, ok if that makes everyone feel better, then we are in a Recession, and yes things are THAT bad. Although.................

We have had them in 1973, 1980, and 1991. People still do have jobs and although certain industries have been hit particularly hard, as well as certain towns and communities that does not mean that tomorrow we will all loose everything. It means that you need to take a step back, and ask yourself, is NOW the right time for me to buy.sell?

Sitting on the Fence????

You may very well see that while you were "sitting on the fence" so to speak, waiting for the economy to rebound, you may have very well just lost the opportunity to take advantage of this horrible position our economy is in, and in the meantime help bail it out. We need people to buy homes, well let me rephrase, we need people that can afford their mortgage payments to buy homes, the interest rates are low, the $7500 tax break for first-time homebuyers is amazing, and although you may be teetering on the edge to buy, well now indeed is a great time to buy! There are so many positives that come along with owning a part of the "American Dream". Including: deductible Mortgage Interest, Deductible property taxes, and the potential Tax Free Gain when you sell. A tip if you do buy: Put 20 percent down if at all possible to avoid private mortgage insurance, or PMI, and higher interest rates due to growing lender risk-based concerns. See my blog about removing PMI. Sellers Concessions: they are more willing now than ever to give in a little to make a sale go through, there are so many great homes at super bargains and the selection has never been so great! So yes we may be in a Recession, but "Now is the time to Buy"!

Thank~Sharon~

If you, or someone you know, are thinking of relocating to the Port St Lucie area I would be more than willing to earn your trust and business, please call me for professional and HONEST service!

Hello my friends, if you are currently looking for a next to perfect place to raise a family....Look no further.  I moved to this area about 4 years ago from the Panhandle of Florida, and this is one of the best moves we have ever made.  We absolutely love it here, it is still close to the "Space Coast" and all the Orlando attractions and yes of course the Miami Dolphins.  Sports fans love this area due to the NY Mets Spring Training Facility here.  We also have a Minor League here the Port St. Lucie, Mets. 

 Here are some stats:

Port St. Lucie History

   The area is rich in history, having been settled by the Spanish in 1565, when they built Fort Santa Lucian and established a colony at the Jupiter Inlet. Settlers and the Seminole Indians shared the land until the second Seminole War sealed the fate of the Seminoles.
   The first municipal government in the area was established in 1901 at the site of Fort Pierce. The area, once known as "Mosquito County," remained rural and sparsely populated throughout the first half of the 20th century, and pineapple plantations flourished there until the end of World War I.
   As is the case with many Florida communities, the area's population growth began in earnest in the ‘70s and ‘80s. The city of Port St. Lucie was the brainchild of Frank, Elliott and Robert Mackle, who formed the General Development Corp. in 1958 to purchase and develop more than 40,000 acres at the north fork of the St. Lucie River. Aggressive advertising campaigns and cheap land lured retirees from New England and the Midwest.
   A major catalyst in the development of the area was the construction of the bridge over the St. Lucie River. Port St. Lucie was incorporated in 1961, even though fewer than 300 people lived there. However, by 1980, the population had grown to 17,000, and by the year 2000, it was 89,000. This staggering growth continues today, making Port St. Lucie the second-fastest-growing city in Florida among the largest 15.

Port St. Lucie Fast Facts

   Location: Port St. Lucie is located in East Florida, between Melbourne and West Palm Beach
  *Total area: 76.69 square miles
  *Population: 88,769
  *Housing units: 36,785
   Average annual rainfall: 59.53 inches
   Average temperatures: 82ºF in summer, 64ºF in winter
*Information provided by 2000 Census

Schools

  In addition to the five high schools, seven middle schools and 21 elementary schools in the St. Lucie County School District, there are 16 private schools serving more than 30,000 students. The school district expects to construct three new schools by 2008, including a new middle school, a high school and an elementary school.
   A prominent educational force in the area, Indian River Community College offers more than 100 two-year degree programs as well as career advancement and business enhancement programs.
   Barry University, Florida Atlantic University and the University of Florida all have branches and/or extension programs in St. Lucie County.

I can attest to how great the school system here is, my children attend school within this school system and I can not say enough about it, this is a VERY very important reason as to why I moved to this area.  I am always willing to show you around the Port St Lucie area and if you or someone you know is looking to relocate to Port St Lucie, give me a call or email me!

Thank you!
Sharon Fleming

sharon.fleming@exitt.com

 www.sharonservingpsl.com

772-924-4448

I thought this may be of some use to your clients. Just some general information that they may or may not be aware of. Just passing it along.

I know what many are thinking, who in this market has Equity, but you would be surprised how many people ask me about this.

~Sharon~

Removing private mortgage insurance

By Bankrate.com

If you secured a home loan with less than a 20 percent down payment, chances are your lender required you to buy mortgage insurance to cover its exposure in case you default.

Once your equity position in the home reaches 20 percent, however, you will want to stop paying mortgage insurance (unless you have an FHA-insured loan, which requires premium payments to the government for the life of the loan).

Know your rights
By law, your lender must tell you at closing how many years and months it will take you to pay down your loan sufficiently to cancel mortgage insurance.

Most home buyers ask that mortgage insurance be canceled once they pay their loan balance down to 80 percent of their home's original appraised value. When their balances drop to 78 percent, their mortgage servicer is required to cancel mortgage insurance for them. Mortgage servicers also must give borrowers an annual statement that shows who to call for information about canceling mortgage insurance.

The law does allow lenders to require mortgage insurance of a high-risk borrower until the balance shrinks to 50 percent of the home's value. You may fall into this high-risk category if you have missed mortgage payments, so make sure your payments are up to date before asking your lender to drop mortgage insurance. Lenders may require a higher equity percentage if the property has been converted to rental use.

Calculate the equity in your home

• Equity = Value - Mortgage balance • Percent of Equity = Equity / Value

Example: If you estimate (or, better yet, if you have it appraised) that the home is worth $200,000, and you owe $150,000 on the mortgage, your equity is $50,000 (the $200,000 value minus the $150,000 mortgage balance). You have 25 percent equity in the home (the $50,000 equity divided by $200,000 equals 0.25, or 25 percent).

With equity of 20 percent or greater, you have a good case to rid yourself of mortgage insurance. If you can't persuade your lender to drop mortgage insurance, consider refinancing. If your home value has increased enough, the new lender won't require mortgage insurance. Make sure, however, that your refinance costs don't exceed the money you save by eliminating mortgage insurance.

No more mortgage insurance
Here are steps you can take to get out from under mortgage insurance even sooner or strengthen your negotiating position: