John's Florida Real Estate Blog

Festival of Lights in Zephyrhills, FL on Dec. 6, 2008

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Mon, 17 Nov 2008 11:26:17 -0600

On Saturday, December 6th from 2 PM to 9 PM the Festival of Lights Celebration will take place in Zephyrhills, Florida along 5th Avenue. At 6 PM there will be a lighted Christmas Parade, including Santa Claus and at 8:30 PM the Awards for the Lighting Contest will be presented at Eiland Bandstand in Times Square (not the one in New York City, haha).

The celebration activities will include the following:

Caroling
Dance Groups
Performers
Musicians
Kids Games & Rides
Rock Wall
Bounce Houses
Clowns
Craft Vendors
Business Vendors
Blood Mobile
Cake Walk
and MORE!

For more information please visit: www.mainstreetzephyrhills.org , e-mail mszi@verizon.net or call 813-780-1414

So come and get the holiday spirit started for 2008!!

Seasonal Winter Resident Fair in Zephyrhills, Florida on December 5, 2008

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Mon, 17 Nov 2008 10:52:50 -0600

On Friday, December 5, 2008 from 9:00 AM to Noon there will be a Winter Fair held at Alice Hall at Zephyr Park in Zephyrhills, Florida for our winter residents, AKA Snowbirds. They tell me that local businesses and restaurants will be there to welcome you with specials, coupons, and freebies.

Free coffee, juice and doughnuts!

For more information you can e-mail: seasonalhomeprotection@verizon.net

Might be a nice way to spend a crisp or warm autumn morning.

John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. Phone: 813-783-4444

Average Mortgage Interest Rates Drop a Bit: Freddie Mac

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Thu, 13 Nov 2008 18:14:39 -0600

Today 11/13/08 Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 6.14% (6.10% in the southeast), down from 6.20% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.81%, down from 5.88% last week. A year ago the 30 year rate was 6.24%.

The weakening economy here in the United States forced interest rates a bit lower this week. This is the 2nd week in a row (big whoopee) that interest rates have gone lower. The Federal Reserves recent moves to drop their rates may have filtered down to the consumer market. But to me it does not look like such a big change. I had hoped for a bigger drop.

New mortgage applications fell during the last week in October and the National Association of REALTORs (NAR) said that pending sales of existing homes fell 4.6% in September, below predictions.

On the news tonight it appeared that a lot of the money that the federal government was pumping into the banking system was being hoarded rather than being pushed out as consumer loans. One bank said they had set aside $6 billion for bonuses!!! Can you believe it. They said none of these bonus funds were from the government money, but if they have that much money set aside for bonuses when so many of us are suffering, why don't they use it to improve the country's overall financial situation rather than giving "extras" to the same executive idiots that got us into this situation???? This does not make any sense to me. It is like me crying to my parents that I need money to make my mortgage payment, but that I have plenty in my savings account for a trip to Europe. My parents would say, forget the trip, use your money to pay the mortgage. Funny how common sense rules we all know about do not apply to the government that is supposed to work for YOU AND ME.

If you want to learn more about Freddie Mac or see the details of their survey, go to: www.freddiemac.com and click on the link for "Current Weekly Survey". They break down the survey by specific regions in the United States so you can see how your state compares to other parts of the country. They also explain the mission of Freddie Mac and offer a lot of useful information for consumers.

If you would like to speak with a lender you can find some at my website: www.jelwell.century21bnr.com . You can also speak with your own bank, credit union, or mortgage broker to see what your particular interest rate would be, should you decide to finance a home purchase.

Hurricane Paloma to Cross Cuba Soon - Heading Northeast

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Sat, 08 Nov 2008 09:58:22 -0600

Even though it is very late in the hurricane season we have one more storm not far away. Hurricane Paloma is just to the south of Cuba and should cross over that island soon. You can click on the map to the left to see a larger version that shows its predicted 5 day path. Looks like it will move to the northeast and barely affect Florida. Let's hope so. This year we have escaped all of the major storms.

Several years ago we had 4 hurricanes go over us, one right after the other. In our area there was minimal damage. Mostly a few carports destroyed, some roofs were damaged, power outages due to tree limbs falling, and some localized flooding in low-lying areas. This year, 2008, none of that so far.

Keep an eye on this storm just in case it makes a turn to the northwest. You can also visit the Channel 8 News site in Tampa, Florida for more storm hints and to follow the track of the storm. Just click on the following link: www.tbo.com Click on their WEATHER link and off you will go. They usually have an animated radar map if a storm is coming this way which can be both interesting and helpful.

You can also get some good official information by visiting the National Hurricane Center site by clicking on the following link: http://www.nhc.noaa.gov/ Not just for this storm, but you may want to bookmark it for future ones. They have maps, winds speeds, predicted paths, and much more. Not as user-friendly as the TBO site, but useful none-the-less, and it has a lot of detailed information.

If you are scheduled to close on a home purchase when a storm is near, be aware that many insurance companies will NOT write new policies when there is a storm watch or warning anywhere in the state of Florida. If you went through a Florida REALTOR and he or she used a standard contract here, there is a contingency for this that will allow you to delay your closing until after the storm has passed and you can get insurance.

If you did not use a licensed agent and your sale is a "for sale by owner"' you might want to consult with an attorney to see what you can do. It is not a good idea to buy a new home, with no insurance coverage, and a storm approaching. In fact, if you are financing your purchase, your lender will demand that you have proof of coverage before they will cough up the money so you can close. So be careful

If you need more information or have questions about hurricanes and Florida life, you can call me at 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com I also invite you to visit my webpage at: www.jelwell.century21bnr.com You might also want to check out my blogs that I entered on June 20, 2008 in this weblog concerning finding flood zones in Pasco and Hillsborough Counties. There is also one from FEMA for other areas around the United States. Just click on the archive link to the left of this post for June 2008.

Hope you find this information of use.

Freddie Mac: Mortgage Interest Rates Drop Due to Weaker Jobs Market

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Thu, 06 Nov 2008 19:56:09 -0600

We have a real pogo stick now with mortgage interest rates. Up one week, down the next, then up again. Like the weather, wait a day and it will change. Today 11/06/08 Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 6.20% (6.10% in the southeast), down from 6.46% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.88%, down from 6.19% last week. A year ago the 30 year rate was 6.24%.

Indicators point to the job market weakening further. No surprise there. Seems like each night we hear about another corporation laying-off more and more workers. On a year-to-year basis, job layoffs doubled in October as compared to September.

Not only that, but consumers are hesitating to spend money in these uncertain times. I suspect that many forecasters are pondering whether this will affect the rapidly approaching holiday season when many stores make the majority of their profits. Thanksgiving, the official start of the Christmas shopping season is now less than three weeks away! My bet is that most consumers will be cutting back, at least some. Look in your local stores and you will see that many are already beginning to slash prices!

Seventy percent of lenders that offer prime loans tightened their lending standards, while 90% of those that offer more non-traditional loan products did the same. Of course, this shrinks the ranks of consumers who can get home financing. So far this year, only two of my home sales were financed. All of the rest were CASH! In our current market, cash is king for many sellers. For those buyers that have the money, or great credit, there are some wonderful bargains to snap up.

It will be interesting to see what effects the recent elections will have on the housing market and the economy in general. Maybe just the idea of a change in the wind will help get things moving in a more positive direction. Let's hope so!

Winter Residents (AKA Snowbirds) Starting to Arrive in Zephyrhills, Florida

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Sun, 02 Nov 2008 19:26:03 -0600

As soon as the 2008 elections are over, our the yearly trek of winter visitors will begin to move to the south. When I used to live in the Finger Lakes region of New York State, I remember watching the geese flying south as I worked on our farm, and I'd often wish that I could go with them to warmer climes. Here in Zephyrhills in Pasco County, Florida, just to the north of Tampa, we usually have 3 main arrival periods, or surges.

One occurs now after the elections. A lot of our "snowbirds" like to stay up north until they have voted. Others enjoy the crisp fall weather and the change of the beautiful foliage that takes place. But once the "frost appears on the pumpkins" many start thinking of the warm balmy days we are having here in Florida. Autumn is a great time in Zephyrhills. Neither too hot or too cold. Just right! Already I am seeing more an more out-of-state cars on the roads.

Our second big group that arrives will get here just after Thanksgiving. Spending this holiday with family is important and the weather up north is still bearable. So many wait until after this traditional family gathering time before they come down.

The last major arrival push takes place after Christmas. Much for the same reason as the second one. Though lately we often see the grandparents arrive here in the fall, then the children and grandchildren arrive around Christmas time to enjoy the warm weather for the holidays with their families.

What this means for the real estate market here is that we will have MANY more buyers and sellers in the area! Thousands of them, in fact. Already I have been contacted by many potential buyers who will be looking for winter homes when they get here. On the other side, many sellers prefer to be here while their home is being marketed. Needless to say, the market in this winter home sector will really be heating up in the coming months. Hundreds of mobile homes, single-family houses, villas, condos, and townhouses change hands each year, and this one should be no exception.

If you will be looking for a home here or are considering selling your current winter residence, I would be happy to meet you and show you what I can do for you. As many of you know, I am very involved in marketing my listings via the internet, as well as using more traditional methods. However, due to its reach, the internet lets buyers all over the country, and even overseas, see what we have to offer here. So if I can be of assistance, do not hesitate to contact me via the methods below. It will be a pleasure to help you!

You can call me at: 813-783-4444 You can e-mail me at: jelwell1@tampabay.rr.com

I also invite you to visit my my website where I think you will find a lot of useful information. To get there just click on the following link: www.jelwell.century21bnr.com Be sure to click on the Zephyrhills 55+ Bulletin Board Button on the left side of my home page. It can give you a snapshot of what is happening in Zephyrhills. If you like, you can also register and post your own messages.

My November 2008 Florida Real Estate Newsletter is Now Ready for Download

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Sat, 01 Nov 2008 11:28:54 -0500

My November 2008 Real Estate Newsletter is now available for download as a PDF (Adobe Acrobat) file. Just click on the following link: Download november_2008_newsletter.pdf

If you would like to receive these newsletters automatically in the future each month, just send me an e-mail and let me know. I would be glad to add you to my e-mailing list. You can e-mail me at: jelwell1@tampabay.rr.com

I also invite you to visit my my website where I think you will find a lot of useful information. To get there just click on the following link: www.jelwell.century21bnr.com

Check With US Dept. of Housing and Urban Development to Avoid Foreclosure Problems

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Sat, 01 Nov 2008 09:36:34 -0500

Lots of homeowners fear foreclosure and some already have the banks knocking at their doors. Sometimes, this is the only recourse people have, but other times there are ways out. And the US Government is adding even more ways, hopefully.

However, just like when there are wounded sheep in the flock, there are also "wolves" circling out there just waiting to pick off some poor person that does not know what to do or who to go to for help. You see evidence of this every day with stick-in signs along the roads or ads in local papers.

Before you do anything, I suggest you visit the Department of Housing and Urban Development page on the internet to get some tips to help you avoid getting into an even worse situation by using some crooked company. You can visit their site at: www.hud.gov/foreclosure to see what your options are. They have a guide to assist you during this difficult time. You can find lenders, local advisory resources, information on refinancing options and much more. This site is worth a look! I highly recommend you visit it if you find yourself having a hard time making your home payments.

If I can help you more, please feel free to call me at: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You can also visit my website at: www.jelwell.century21bnr.com were you will find even more useful information, including another link to HUD.

14th Annual Fall AutoFest in Zephyrhills, Florida

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Fri, 31 Oct 2008 22:07:32 -0500

On November 13-16, 2008 the 14th Annual Fall AutoFest will take place in Zephyrhills at Festival Park, just south of town. Some of the major events will be:

Collector Car Auctions
Automotive and Antique Swap Meet
Car Corral
Vintage Auto Exhibition Racing
Car Show
Camping available from Thursday thru Sunday

For more information and driving directions/map you can visit www.zephyrhillsfestivals.com or www.zephyrhillsauction.com You can also call: 1-800-303-CARS or 813-258-6726

Sounds like a nice way to spend a fall day here in Florida to me! Have a great time and let us know what you thought about the event if you have attended in the past. Lots of local visitors and residents would like to know what it is like.

Watch Those Speed Limits Around Zephyrhills and Pasco County, Florida

John Elwell (CENTURY 21 Bill Nye Realty, Inc) — Fri, 24 Oct 2008 10:51:57 -0500

In the past the Zephyrhills and Pasco County law enforcement officers have been reasonably flexible when it came to issuing speeding tickets. Depending on the circumstances, they would sometimes let you go with a warning unless you were WAY over the limits. However, one of my family members (who easily qualifies for Social Security) was ticketed within the city limits. She was distracted momentarily and did not see the flashing lights near a school that indicated the speed limit had been temporarily dropped from 30 miles per hour to 15. The ticket cost her $279 and that is a lot for a senior citizen on a fixed income. But the law is the law.

What I am wondering is if since our property taxes were reduced, in many cases, and local municipal budgets were cut, are the police now having to be stricter to increase the money they bring in via fines? When money is tight they may not have the flexibility to be lenient anymore. I am not in any way saying that they are being unfair. These are not "speed traps" like exist in some areas. If we go over the speed limit or go through a stop sign, we are guilty and must pay the piper. The officers are just doing their jobs. I am simply wondering if the lower taxes have made them stricter?

In any case, do watch your speed around town and the surrounding areas. Those fines can hurt. And in the end, the limits are there to protect us and others who use the roads. So stay alert and avoid those costly fines!

John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 E-Mail: jelwell1@tampabay.rr.com