The amount of applications filed for residential mortgages in the United States has dropped again. This could be a direct result of the discussions that the Fed is having in regards to buying billions of dollars in mortgage-backed securities in order to lower the mortgage interest rates again. It could be that investors are holding out for the market to hit bottom before they start investing again.
If this is indeed what is holding borrowers back from purchasing mortgages, maybe we will soon begin to see some positive change in the real estate market after the plan to lower the mortgage rates is set into place. But as of now, any positive change will be welcome with open arms!
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Is there a Light at the End of the Mortgage Tunnel?
How do we Fix the Mortgage Crisis?
This is a test post for the Tropic Shores Realty Blog.
Any Deed restrictions in Unit 9?
For a state that has bragged about the incredible population growth of over 1,000 residents a day, Florida has felt the recession in more ways than one. The population growth last year was comparably the slowest since WWII. According to the state’s Office of Economic and Demographic Research, a majority of the growth rate came from births last year, not from relocations. Unfortunately, Florida’s economy depends on growth to stimulate the construction industry, real estate industry and retail businesses.
The national recession seems to be the main culprit in this population growth paralysis. According to the state projections the population growth is not expected to return to normal until the end of the year. I would think that once the housing market gets back on its feet, people will start selling their northern homes once again and begin heading south to the Sunshine State!
It has been very encouraging that amongst so much valid concern and economic slowdown, I have been fortunate to engage numerous people this past week who believe we have many positive signs coming as well. While I don’t yet have the same belief, I have the hope…and…I do believe that consumer confidence is one of the keys to stabilization and recovery. Feel free to tag this with comments of encouragement for all to share.
Due to Florida’s location, hurricanes forced the Florida Legislature to take action in 2002 to secure that all Florida citizens will have the availability of property insurance coverage and thus, Citizens Property Insurance Corp. was created. Citizens is a non-profit, tax-exempt corporation, whose main purpose is to provide homeowners with affordable state-backed property insurance protection. Citizens is run by an eight person board of governors that were appointed by the Governor.
Over the years, Citizens has evolved into a competitive market of insurance where the policy holders have a choice to reject private insurance if it is offered to them. On Tuesday, January 5, 2009 the Citizens Property Insurance Corporation Mission Review Task Force have scheduled a meeting in Hillsborough County, Tampa Florida, to review changes that need to be made to revert Citizens Property Insurance Corp. back to it’s original focus of ensuring that Florida residents have a state built, non-competitive market to obtain property insurance.
If the task force achieves its goal, many policyholders could be looking at notable rate increases and possibly lose their choice of staying the with state-backed property insurer.
The Florida Manatee Festival, a two-day event, which takes place in downtown Crystal River along Citrus Avenue, will offer its visitors a variety of interests. In honor of the festival namesake, the endangered Manatee, the festival will even offer its visitors the opportunity to view the manatee in its own environment. Boat tours will be offered for a small charge and will take visitors out on the beautiful Kings Bay to witness this gentle giant in the captivating waters in which the manatee calls “home”.
The festival, which is sponsored by the Citrus County Chamber of Commerce, the City of Crystal River and the Rotary Club of Crystal River, will take place on January 10th from 9:00 a.m. to 5:00 p.m. and from 9:00 a.m. to 4:00 p.m. on Sunday, January 11th, 2009. Entrance fee is $2 for guests 12 and older.
The Manatee Festival promises a vast array of interests for its visitors. A Fine Art show will host over 60 exhibitors Live entertainment will be provided continuously during this two-day event. The 8th annual Jimmy Buffet sound-a-like contest will take place on Saturday and has proven to be an enticing bit of entertainment!
Children’s activities will be provided on the grounds of the Creative Playground, behind Crystal River’ City Hall Great games, activities and education information anxiously await to keep your children (accompanied by an adult) entertained. There will also be a Rock Climbing Wall, bounce house, pony rides and much more.
The Rotary Club of Crystal River is working diligently at providing over 200 crafters to capture any interest needed by the festival viewers! Posters of the adorable manatee have been made by local students and will be on display in the Manatee Education area. Continuous movies will also be on display in the Manatee Education area which is now located down near the Manatee Boat Tours which will provide Manatee Education information to all visitors as well as Manatee Education booths designated to enhance the awareness on our endangered manatees. Don’t forget to bring out the entire family for an opportunity to take a Manatee Boat Tour on the beautiful King’s Bay! Not only will you get to view our county’s beautiful waterways, but you will get to view the endangered manatee in its natural environment and learn some interesting facts about these beautiful creatures.
Back by popular demand will be Kayak Tours, launched out at Hunter Springs Park, this is a great opportunity for educated kayakers to tour the beautiful waters of Kings Bay and witness the wildlife that Citrus County is known for. Also, there will be an extended Beer & Wine Garden located a short distance from the Boat Docks which will also host a live band as well as big screen televisions so you are sure to catch those weekend football games. Wine will be provided by a local winery here in Citrus County!
For more information, please contact the Citrus County Chamber of Commerce at 352.795.3149, 352.726.2801 or 352.628.2666