Monday, January 31, 2011
State Farm wants to raise average rates by 28%
TALLAHASSEE, Fla. – Jan. 31, 2011 – State Farm Florida Insurance, the state’s largest private property insurer, wants to raise rates by a statewide average of 28 percent.
Although Florida has dodged a direct hit by hurricanes the past five years, the company says the increase is needed to cover rising losses for claims unrelated to storms such as sinkholes. The increase comes after the company received approval in 2009 to raise average statewide rates by 28 percent and approval in November to raise them by 6.6 percent.
State Farm had 678,849 residential property insurance policies in the state as of late last year, including 128,506 in Broward, Palm Beach and Miami-Dade counties and 175,084 in the Orlando area.
The Office of Insurance Regulation will review the request at a hearing on Feb. 15. An actuary from the office wrote in an e-mail late Friday that it appears the proposal is driven by higher claims costs and a higher “profit and contingency” factor, which is, in part, for emergencies or unforeseen events. Just because the request was filed “does not necessarily mean the Office will approve it,” he wrote.
If approved, some policyholders would see increases that are higher than the state average, and others would see lower increases or even decreases.
In early 2009, State Farm threatened to leave Florida’s property insurance market after the state rejected its request for rate increases of either 47 percent or 67 percent. That year, legislators passed a measure to effectively allow the largest home insurers to charge as much as they wanted, but Gov. Charlie Crist vetoed the legislation.
In July 2009, regulators agreed to allow State Farm to eliminate some discounts it had been providing, which resulted in higher rates on average statewide. The company agreed to stay in the state in December 2009 if it was allowed to shed 125,000 policies over several years and raise rates by an average 14.8 percent.
Last year, regulators allowed the company to reduce some discounts it gives homeowners for fortifying their homes against hurricanes, effectively raising statewide average rates by 6.6 percent, said State Farm spokesman Michael Grimes.
Grimes said State Farm, which had reported its premiums weren’t keeping pace with claims and other expenses, helped improve its finances by dropping some policies. It now has about 130,000 fewer residential property insurance policies than it did in late 2009 when it agreed to stay in Florida.
The rate increase also would help, Grimes said. “To ensure State Farm Florida has the resources to sufficiently protect its customers’ property, the premiums need to adequately reflect the risk inherent in providing property insurance coverage in Florida,” he said. “Non-catastrophe loss per policy is up 94 percent the past three years. Much of the insurance losses can be attributed to sinkhole claims.”
The company spent $351 million to cover sinkhole claims from 2007 to October 2010, according to Grimes.
Information about the rate hearing is available at the Office of Insurance Regulation’s website.
Copyright © 2011 Sun Sentinel, Fort Lauderdale, Fla., Julie Patel. Distributed by McClatchy-Tribune Information Services.
Thursday, January 27, 2011
Brand New Listing in Palm Bay!
www.brevardmls.com
List Price: $60,900 - Firm: Keller Williams Rlty of Brvd - List Agent: Kenneth Gordon - Email: KenGordon.re@gmail.com - Perfect for the first time home buyer, young family, or recently retired. Close to schools, churches, shopping, and easy access to I-95. Quiet neighborhood, huge fenced yard, and an enclosed Florida room.
Friday, January 21, 2011
Florida’s existing home, condo sales up in Dec. and for 2010
ORLANDO, Fla. – Jan. 20, 2011 – Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors®.
A total of 15,550 existing single-family homes sold statewide in December, up 4 percent from the 14,923 homes sold in December 2009. The statewide existing home median sales price last month was $133,100; in December ’09 it was $139,800 for a 5 percent decrease, according to Florida Realtors’ data. However, December’s statewide existing home median price was higher than the $132,700 reported in November 2010. The national median existing single-family home price was $171,300 in November, according to the latest data available from the National Association of Realtors® (NAR). The median is the midpoint; half the homes sold for more, half for less.
In December, 12 of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales and 14 MSAs reported higher existing condos sales. In the year-to-year comparison for statewide existing condo sales, a total of 6,673 units changed hands last month, up 12 percent from the 5,955 condos sold in December 2009. The statewide existing condo median sales price in December was $88,100; in December ’09 it was $106,700 for a 17 percent decrease. The national median existing condo price was $165,300 in November, according to NAR.
Looking back on 2010, Florida’s existing home sales rose 5 percent for the year, with a total of 170,848 homes sold compared to 162,873 homes sold in 2009. Statewide existing home sales activity in 2010 also was 37.5 percent higher than 2008 statewide sales, records show. The statewide existing home median price for 2010 was $136,500; it was $142,500 in 2009 for a 4 percent decrease.
“It’s encouraging to close out the year for Florida’s housing market with increased sales activity,” said 2011 Florida Realtors President Patricia “Pat” S. Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound. “The homebuyer tax credits helped to fuel home and condo sales during the first half of 2010, while favorable affordability conditions and historically low mortgage rates continued to bring buyers into the market in the waning months of the year.
“Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers,” Fitzgerald added. “Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market.”
In Florida’s condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show. The statewide existing condo median price in 2010 was $91,300; it was $108,000 in 2009 for a 15 percent decrease.
The latest industry outlook from NAR offers positive predictions for 2011. “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” said NAR Chief Economist Lawrence Yun. “All the indicator trends are pointing to a gradual housing recovery.”
In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 percent average during the same month a year earlier, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
© 2011 Florida Realtors®
A total of 15,550 existing single-family homes sold statewide in December, up 4 percent from the 14,923 homes sold in December 2009. The statewide existing home median sales price last month was $133,100; in December ’09 it was $139,800 for a 5 percent decrease, according to Florida Realtors’ data. However, December’s statewide existing home median price was higher than the $132,700 reported in November 2010. The national median existing single-family home price was $171,300 in November, according to the latest data available from the National Association of Realtors® (NAR). The median is the midpoint; half the homes sold for more, half for less.
In December, 12 of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales and 14 MSAs reported higher existing condos sales. In the year-to-year comparison for statewide existing condo sales, a total of 6,673 units changed hands last month, up 12 percent from the 5,955 condos sold in December 2009. The statewide existing condo median sales price in December was $88,100; in December ’09 it was $106,700 for a 17 percent decrease. The national median existing condo price was $165,300 in November, according to NAR.
Looking back on 2010, Florida’s existing home sales rose 5 percent for the year, with a total of 170,848 homes sold compared to 162,873 homes sold in 2009. Statewide existing home sales activity in 2010 also was 37.5 percent higher than 2008 statewide sales, records show. The statewide existing home median price for 2010 was $136,500; it was $142,500 in 2009 for a 4 percent decrease.
“It’s encouraging to close out the year for Florida’s housing market with increased sales activity,” said 2011 Florida Realtors President Patricia “Pat” S. Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound. “The homebuyer tax credits helped to fuel home and condo sales during the first half of 2010, while favorable affordability conditions and historically low mortgage rates continued to bring buyers into the market in the waning months of the year.
“Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers,” Fitzgerald added. “Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market.”
In Florida’s condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show. The statewide existing condo median price in 2010 was $91,300; it was $108,000 in 2009 for a 15 percent decrease.
The latest industry outlook from NAR offers positive predictions for 2011. “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” said NAR Chief Economist Lawrence Yun. “All the indicator trends are pointing to a gradual housing recovery.”
In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 percent average during the same month a year earlier, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
© 2011 Florida Realtors®
Thursday, January 20, 2011
Housing Starts Expected to Climb in 2011
New home construction is looking up this year. During an economic update Wednesday at the International Builders' Show in Orlando David Crowe, chief economist of the National Association of Home Builders, projected single-family housing starts to rise by 21 percent in 2011, reaching 575,000 units.
The estimate is slightly more conservative than the Dec. 30 projection of 716,000 housing starts this year by Lawrence Yun, chief economist of the National Association of REALTORS®. Both estimates assume sustained job growth, increasing U.S. population, as well as continued low interest rates driving construction.
Yun expects about 2 million jobs to be added in 2011. However, as NAHB presenter Frank Nothaft, chief economist for Freddie Mac, pointed out, 2011 got off to a slow start with nonfarm payrolls rising only by 103,000 in December. He called the figure weaker than expected.
Credit is another factor. Lending remains tight, but if it opens up with safe underwriting standards for creditworthy buyers, Yun says there would be a bigger boost to the housing market with spillover benefits for the broader economy. The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3 percent around the end of 2011; at the same time, unemployment should drop to 9.2 percent, according to NAR.
In addition, over the past 10 years the U.S. has added 27 million people. Continued population growth will also spur home construction and sales. “All the indicator trends are pointing to a gradual housing recovery,” Yun says.
An even more conservative projection of 492,000 housing starts in 2011 was released by the Portland Cement Association during the International Builders Show Wednesday. Edward Sullivan, PCA chief economist, does not expect significant increases until 2012 due to tight lending standards, a high home inventory count, and unstable housing prices. He also says that new home construction will vary considerably by region.
-- Erica Christoffer, REALTOR® Magazine
The estimate is slightly more conservative than the Dec. 30 projection of 716,000 housing starts this year by Lawrence Yun, chief economist of the National Association of REALTORS®. Both estimates assume sustained job growth, increasing U.S. population, as well as continued low interest rates driving construction.
Yun expects about 2 million jobs to be added in 2011. However, as NAHB presenter Frank Nothaft, chief economist for Freddie Mac, pointed out, 2011 got off to a slow start with nonfarm payrolls rising only by 103,000 in December. He called the figure weaker than expected.
Credit is another factor. Lending remains tight, but if it opens up with safe underwriting standards for creditworthy buyers, Yun says there would be a bigger boost to the housing market with spillover benefits for the broader economy. The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3 percent around the end of 2011; at the same time, unemployment should drop to 9.2 percent, according to NAR.
In addition, over the past 10 years the U.S. has added 27 million people. Continued population growth will also spur home construction and sales. “All the indicator trends are pointing to a gradual housing recovery,” Yun says.
An even more conservative projection of 492,000 housing starts in 2011 was released by the Portland Cement Association during the International Builders Show Wednesday. Edward Sullivan, PCA chief economist, does not expect significant increases until 2012 due to tight lending standards, a high home inventory count, and unstable housing prices. He also says that new home construction will vary considerably by region.
-- Erica Christoffer, REALTOR® Magazine
Monday, January 17, 2011
Free Federal Reserve brochure explains credit decisions
WASHINGTON – Jan. 17, 2011 – Lenders usually consider a consumer’s credit history or credit score when deciding whether to extend credit and at what interest rate. A new Federal Reserve publication available online helps consumers understand the new notices they may receive from lenders when credit reports or credit scores affect a decision to grant credit.
The publication, “What You Need to Know: New Rules about Credit Decisions and Notice,” describes the types of notices consumers may receive. It includes links to sample notices, information on what consumers should do if they receive a notice, and instructions on how to dispute credit report errors.
The notices are now required by rules issued by the Federal Reserve Board and the Federal Trade Commission. The new rules took effect Jan. 1, 2011.
Under the rules, a creditor must provide a notice to the consumer when, based on the consumer’s credit report, the creditor offers loan terms that are less favorable than terms provided to other consumers. Consumers who receive this “risk-based pricing” notice have a right to get a free credit report to check the lender’s accuracy.
As an alternative to providing risk-based pricing notices, creditors can choose to give credit applicants a free credit score and information about their score.
Today, most consumers must pay a fee to obtain their credit score. While the free credit reports contain information about payment history and other details used to create a credit score, they do not include the numbers that lenders use to determine an interest rates.
To download the report that can be given to homebuyers, go to the Federal Reserve’s website.
© 2011 Florida Realtors®
The publication, “What You Need to Know: New Rules about Credit Decisions and Notice,” describes the types of notices consumers may receive. It includes links to sample notices, information on what consumers should do if they receive a notice, and instructions on how to dispute credit report errors.
The notices are now required by rules issued by the Federal Reserve Board and the Federal Trade Commission. The new rules took effect Jan. 1, 2011.
Under the rules, a creditor must provide a notice to the consumer when, based on the consumer’s credit report, the creditor offers loan terms that are less favorable than terms provided to other consumers. Consumers who receive this “risk-based pricing” notice have a right to get a free credit report to check the lender’s accuracy.
As an alternative to providing risk-based pricing notices, creditors can choose to give credit applicants a free credit score and information about their score.
Today, most consumers must pay a fee to obtain their credit score. While the free credit reports contain information about payment history and other details used to create a credit score, they do not include the numbers that lenders use to determine an interest rates.
To download the report that can be given to homebuyers, go to the Federal Reserve’s website.
© 2011 Florida Realtors®
Rate on 30-year fixed mortgage dips to 4.71%
Mortgage Rate Trend Index
Expect little change in mortgage rates over the short term, say 56% of the industry experts polled by Bankrate.com this week. The remaining 44% predict a rise – and none expect further declines.
NEW YORK (AP) – Jan. 14, 2011 – Rates on fixed mortgages dipped for the second straight week as Treasury yields fell.
Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 4.71 percent this week from 4.77 percent the previous week. It hit a 40-year low of 4.17 percent in November.
The average rate on the 15-year loan slipped to 4.08 percent from 4.13 percent. It reached 3.57 percent in November, the lowest level on records starting in 1991.
Treasury yields dropped after the December employment report came in weaker than expected. That drove investors to buy safer Treasury bonds, driving up prices and lowering the yields. Mortgage rates tend to track the yield on the 10-year Treasury note.
Rates had been rising since November. Investors shifted money out of Treasurys and into stocks on expectations of faster economic growth and higher inflation. Yields tend to rise on inflation fears.
The recent dip in rates has persuaded some borrowers to refinance, but would-be buyers remain hesitant. The number of homeowners looking to refinance rose last week, the Mortgage Bankers Association said Wednesday. But the ranks of people applying for a purchase mortgage slipped from the week before.
Mortgage rates aren’t expected to revisit last year’s historically low rates, unless the economy takes a sharp turn for the worst. And even if they do, low mortgage rates did little last year to spark flagging home sales.
Higher rates are just another obstacle facing the beleaguered housing market. High unemployment, elevated foreclosures and falling home prices are other drags on the market’s recovery.
RealtyTrac Inc. said Thursday that banks took back more than 1 million homes last year, the highest tally on records dating back to 2005. One in 45 U.S. households received a foreclosure filing in 2010, up 1.67 percent from the year before. The foreclosure listing firm expects bank repossessions to peak this year at 1.2 million.
Foreclosures typically sell at a steep discount of up to 50 percent in some of the hardest-hit regions. That lowers prices of similar homes in the area. Experts predict prices will drop nationally another 5 to 10 percent before bottoming out midyear.
To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a single day.
The average rate on a five-year adjustable-rate mortgage slipped to 3.72 percent from 3.75 percent. The five-year hit 3.25 percent last month, the lowest rate on records dating back to January 2005.
The average rate on one-year adjustable-rate home loans fell to 3.23 percent from 3.24 percent.
The rates do not include add-on fees, known as points. One point is equal to 1 percent of the total loan amount. The average fee for the 30-year loan in Freddie Mac’s survey was 0.8 point. The average fee for the 15-year fixed loan and the five-year ARM was 0.7 point, and the fee for the 1-year ARM was 0.6 point.
Copyright © 2011 The Associated Press, Janna Herron, AP real estate writer.
Thursday, January 13, 2011
Foreclosure rate took a dive at end of year
WASHINGTON – Jan. 13, 2011 – The pace of foreclosures in the U.S. has dropped since revelations that thousands of foreclosure documents may have been improperly prepared.
In December, U.S. foreclosure filings were off 26 percent from December 2009, RealtyTrac reported today. In November, filings were down 14 percent year over year. The December drop was the biggest in at least five years. December’s foreclosure filings are the lowest monthly total since June 2008, RealtyTrac says.
Lenders and mortgage servicers imposed delays on foreclosure processes in October after reports in September that some servicers did not follow legal procedures in tens of thousands of foreclosures. Mortgage servicers say they’re resuming stalled foreclosures, but RealtyTrac estimates that up to 250,000 may have been delayed by the controversy. Those foreclosures will likely be restarted and added to the numbers in early 2011, says James Saccacio, RealtyTrac CEO.
The Department of Justice and the state attorneys general are investigating. “Lenders have been spanked. They’re spending money to make sure every ‘i’ is dotted and every ‘t’ is crossed,” says Christopher Thornberg, of Beacon Economics. The pace of foreclosures “will pick back up,” he says.
Whether it’ll go back to the torrid pace of the past is unclear. Some states have recently added speed bumps. New York now requires lawyers for firms bringing foreclosures to sign an affirmation that they reviewed court documents – and asked servicers to verify their accuracy. Since that requirement started in October, foreclosure filings have “dropped like a rock,” says Paul Lewis, chief of staff to New York State Deputy Chief Administrative Judge Ann Pfau. They’re running about 150 a month, down from 900, Lewis says. He speculates lawyers need time to get information from banks.
In addition to taking longer to make sure paperwork is correct, companies may be slowing foreclosures so that they don’t glut the market with homes for sale, which would depress prices, says Patrick Butler, head of asset disposition for Foreclosure.com. They may also be delaying foreclosures to avoid the cost of maintaining properties while others remain unsold, Butler says.
In December, bank repossessions nationwide totaled 69,847, down 24 percent from December 2009 but up 4 percent from November.
For the year, almost 2.9 million U.S. properties received foreclosure filings, a record high and up 2 percent from 2009. Nationwide, 1 in 45 homes received at least one foreclosure filing during the year.
Source: USA Today
In December, U.S. foreclosure filings were off 26 percent from December 2009, RealtyTrac reported today. In November, filings were down 14 percent year over year. The December drop was the biggest in at least five years. December’s foreclosure filings are the lowest monthly total since June 2008, RealtyTrac says.
Lenders and mortgage servicers imposed delays on foreclosure processes in October after reports in September that some servicers did not follow legal procedures in tens of thousands of foreclosures. Mortgage servicers say they’re resuming stalled foreclosures, but RealtyTrac estimates that up to 250,000 may have been delayed by the controversy. Those foreclosures will likely be restarted and added to the numbers in early 2011, says James Saccacio, RealtyTrac CEO.
The Department of Justice and the state attorneys general are investigating. “Lenders have been spanked. They’re spending money to make sure every ‘i’ is dotted and every ‘t’ is crossed,” says Christopher Thornberg, of Beacon Economics. The pace of foreclosures “will pick back up,” he says.
Whether it’ll go back to the torrid pace of the past is unclear. Some states have recently added speed bumps. New York now requires lawyers for firms bringing foreclosures to sign an affirmation that they reviewed court documents – and asked servicers to verify their accuracy. Since that requirement started in October, foreclosure filings have “dropped like a rock,” says Paul Lewis, chief of staff to New York State Deputy Chief Administrative Judge Ann Pfau. They’re running about 150 a month, down from 900, Lewis says. He speculates lawyers need time to get information from banks.
In addition to taking longer to make sure paperwork is correct, companies may be slowing foreclosures so that they don’t glut the market with homes for sale, which would depress prices, says Patrick Butler, head of asset disposition for Foreclosure.com. They may also be delaying foreclosures to avoid the cost of maintaining properties while others remain unsold, Butler says.
In December, bank repossessions nationwide totaled 69,847, down 24 percent from December 2009 but up 4 percent from November.
For the year, almost 2.9 million U.S. properties received foreclosure filings, a record high and up 2 percent from 2009. Nationwide, 1 in 45 homes received at least one foreclosure filing during the year.
Source: USA Today
Wednesday, January 12, 2011
January Market Update
The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011.
Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to pre-recession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending.As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions.
Home Sales
Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.
Home Price
Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities .
Inventory
The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.
Affordability
Housing affordability set a new record in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio, currently at 13.5%, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels.
Source: National Association of Realtors - October housing data released December 22.
Interest Rates
Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.
Type | Rate |
| 30 year fixed | 4.77% |
| 15 year fixed | 4.13% |
| 5/1-year ARM | 3.75% |
| 30 year average for a 30 year fixed rate mortgage | 8.9% |
Source: Freddie Mac, Rates as of Jan 7.
This Month's Video
Topics For Home Owners, Buyers & Sellers
Use the Season to Your Home-Selling Advantage
While summer is generally known as the peak season for home sales activity, the winter can also offer great advantages for sellers – such as less competition from other sellers. With a little effort, you can use the season to your home-selling advantage.
Let’s put these ideas to work, so your home shows at its best.
Keep snow and ice at bay. If the buyer can't get in easily, the house won't sell. That means keeping walkways and driveways free of the frozen stuff. You want to make the home look well maintained.
Warm it up. Think warm, cozy, and homey. Before a buyer comes through, adjust the thermostat to a warmer temperature to make it welcoming. If you have a fireplace, turning it on right before the tour can create a more welcoming ambience.
Emphasize winter positives. Is your home on a bus route or some other vital service that means it's plowed or deiced regularly in bad weather? Be sure to mention that to the buyers.
Make it festive. Even if you're not actually going to be present, greet your buyers as if they were going to be guests at a party. Set up the dinner table with the good china and silver. Have a plate of cookies for your guests, some warm cider, or even chilled bottles of water.
Use the season to your advantage. When the holidays are over, you can still use winter wreaths and dried arrangements around the door to spark interest. In the winter, with the leaves off the trees, you might also have a nice view that isn't as apparent in the spring and summer months.
Friday, January 7, 2011
State Farm in final phase of dropping homeowners insurance policies
TALLAHASSEE, Fla. – Jan. 7, 2011 – State Farm is in the process of notifying 125,000 Florida homeowners that their policies will be dropped, and should finish notifications in the next few weeks.
Rather than withdrawing completely from the Florida market, State Farm made an agreement in late 2009 with Insurance Commissioner Kevin McCarty to shed a limited number of policies and keep almost 700,000 policies. In return, the company was granted an average 15 percent rate increase.
Meanwhile, state-run Citizens Property Insurance has expanded dramatically, and insurance regulators have been hoping that small insurers based in the state would pick up the policies dropped by State Farm.
Source: St. Petersburg Times (FL) (01/04/11) Harrington, Jeff
Rather than withdrawing completely from the Florida market, State Farm made an agreement in late 2009 with Insurance Commissioner Kevin McCarty to shed a limited number of policies and keep almost 700,000 policies. In return, the company was granted an average 15 percent rate increase.
Meanwhile, state-run Citizens Property Insurance has expanded dramatically, and insurance regulators have been hoping that small insurers based in the state would pick up the policies dropped by State Farm.
Source: St. Petersburg Times (FL) (01/04/11) Harrington, Jeff
SIMPLIFY THE NEW YEAR...
Do you feel like you are going off in all directions, struggling to stay on top of the pile, working harder and having less, worn out, stressed to the breaking point, and still not on top of things? Here are ten steps to getting where you need to go safely in 2011!
1. Simplify. Accept the reality that you can't be all things to all people, have it all, and do it all. Life gets more complicated every year. Simplify, simplify, simplify.
2. Live out your faith. Read Matthew 5-7. Remember, it's all about God, not about you! Jesus said we are to seek His kingdom first, and trust Him for "all these things." If you believe God is in control, relax.
3. Prioritize. You can't keep everybody happy, so you have to decide who stands at the head of the line. Start your day with God. Soak yourself in the Word. Pray about your needs.
4. Get rid of the clutter. That includes clutter in your schedule, your garage, your closet and your thinking. Sometimes you have to do some sorting and cleaning in your mental life as well. Ask God to help you decide what your life should be about.
5. Throw out the ibuprofen, aspirin and the sleeping pills. Bring in moderate exercise, time for quiet contemplation, and a common-sense diet. Forget the fads, the fatty foods and the "more is better" approach to desserts.
6. Get started today! That's the hardest part of progress. Vast numbers of people start the New Year with guilt-driven resolutions which never become accomplishments. When you know what the next step is, do it! God will show you step by step what He requires of you.
7. Eat your bug first thing. Remember the reality shows where contestants are required to do something rather repulsive? That thing you have been hating to face or do-a phone call, a job you disdain, a confrontation with someone? Stop postponing what you dislike. Do it first thing and be done with it.
8. Stop tipping God. A waitress who serves your food usually is given 15% of your bill. Doesn't God deserve the same from your income? Discover that God is no man's debtor. You can't out give Him. You will also discover He'll give you back far more than you ever give to Him.
9. Forget about making God your co-pilot; let Him fly your plane. Realize God isn't interested in the co-pilot's seat. He wants to take you where He wants you to go in spite of storms, challenges, and difficulties.
10. Life is short; death is certain. Live like you believe both.
1. Simplify. Accept the reality that you can't be all things to all people, have it all, and do it all. Life gets more complicated every year. Simplify, simplify, simplify.
2. Live out your faith. Read Matthew 5-7. Remember, it's all about God, not about you! Jesus said we are to seek His kingdom first, and trust Him for "all these things." If you believe God is in control, relax.
3. Prioritize. You can't keep everybody happy, so you have to decide who stands at the head of the line. Start your day with God. Soak yourself in the Word. Pray about your needs.
4. Get rid of the clutter. That includes clutter in your schedule, your garage, your closet and your thinking. Sometimes you have to do some sorting and cleaning in your mental life as well. Ask God to help you decide what your life should be about.
5. Throw out the ibuprofen, aspirin and the sleeping pills. Bring in moderate exercise, time for quiet contemplation, and a common-sense diet. Forget the fads, the fatty foods and the "more is better" approach to desserts.
6. Get started today! That's the hardest part of progress. Vast numbers of people start the New Year with guilt-driven resolutions which never become accomplishments. When you know what the next step is, do it! God will show you step by step what He requires of you.
7. Eat your bug first thing. Remember the reality shows where contestants are required to do something rather repulsive? That thing you have been hating to face or do-a phone call, a job you disdain, a confrontation with someone? Stop postponing what you dislike. Do it first thing and be done with it.
8. Stop tipping God. A waitress who serves your food usually is given 15% of your bill. Doesn't God deserve the same from your income? Discover that God is no man's debtor. You can't out give Him. You will also discover He'll give you back far more than you ever give to Him.
9. Forget about making God your co-pilot; let Him fly your plane. Realize God isn't interested in the co-pilot's seat. He wants to take you where He wants you to go in spite of storms, challenges, and difficulties.
10. Life is short; death is certain. Live like you believe both.
Thursday, January 6, 2011
Housing Starts Predicted to Hit 3-Year High
Housing starts will probably reach a three-year high of 739,000 in 2001, creating about 500,000 jobs and helping trim the unemployment rate to 9.1 percent, said David Crowe, chief economist for the National Association of Home Builders, in an interview with Bloomberg.
“This is an ugly economic cycle,” he said. “We need job creation to get people comfortable with buying a home. If they do that, we’ll create jobs that will reinforce that home buying and fuel additional job growth.”
Job growth in other sectors, as well as population growth, will also likely have an effect. The number of U.S. households will rise 0.7 percent to 118.7 million in 2011, the largest annual gain since the beginning of the housing crisis in 2007. Charles Lieberman, chief investment officer at Advisors Capital Management LLC in Hasbrouck Heights, N.J., expects jobs to rise by an average of 200,000 per month in 2011.
The CEO of luxury home builder Toll Brothers is optimistic. “The recovery is here to stay,” said Douglas Yearley. “I think 2011 will be an improving year, but I think 2012 will be a big year for us.”
Source: Bloomberg, Joshua Zumbrun and Kathleen M. Howley (12/28/2010)
“This is an ugly economic cycle,” he said. “We need job creation to get people comfortable with buying a home. If they do that, we’ll create jobs that will reinforce that home buying and fuel additional job growth.”
Job growth in other sectors, as well as population growth, will also likely have an effect. The number of U.S. households will rise 0.7 percent to 118.7 million in 2011, the largest annual gain since the beginning of the housing crisis in 2007. Charles Lieberman, chief investment officer at Advisors Capital Management LLC in Hasbrouck Heights, N.J., expects jobs to rise by an average of 200,000 per month in 2011.
The CEO of luxury home builder Toll Brothers is optimistic. “The recovery is here to stay,” said Douglas Yearley. “I think 2011 will be an improving year, but I think 2012 will be a big year for us.”
Source: Bloomberg, Joshua Zumbrun and Kathleen M. Howley (12/28/2010)
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