Market Update Week Ending August 26, 2011

It was another volatile week for mortgage rates. The primary factors influencing rates roughly offset each other, though, and mortgage rates ended the week just a little higher.

A wide range of economic news caused investors to either add or reduce risk at a rapid pace this week. News which generally encouraged increased exposure to risky assets helped stocks and hurt mortgage rates early in the week, while the opposite took place later in the week. Mixed US economic data, continued concerns about European debt, a highly anticipated speech from Fed Chief Bernanke, and uncertainty about the impact of Hurricane Irene all contributed to the daily volatility.

In Friday’s speech, Fed Chief Bernanke gave no hint of any change in Fed policy, disappointing some investors hoping for looser monetary conditions. He stated that at its September meeting the Fed will consider whether additional monetary stimulus measures are called for, but that fiscal policy changes by lawmakers are needed to help the economy and the labor market. Following the speech, the consensus view is that the Fed is unlikely to make significant policy changes for a while.

Also Notable:

* Second quarter GDP was revised lower from 1.3% to 1.0%
* Continuing Jobless Claims fell to the lowest level since September 2008
* Moody’s downgraded the credit rating of Japan’s government debt
* The Fed’s Hoenig said that he doesn’t expect a double-dip recession in the US

The biggest economic report next week will be the important Employment data on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before the employment data, Pending Home Sales, Core PCE inflation, and Personal Income will be released on Monday. Chicago PMI Manufacturing and ADP Employment will come out on Wednesday. ISM Manufacturing, Construction Spending, and Productivity are scheduled for Thursday. Factory Orders and Consumer Confidence will round out a busy week.

Panama City Beach Homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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As anyone who has tried to sell a home can tell you, creating curb appeal is an essential part of getting a home sold quickly and at a reasonable price – regardless of whether you’re selling a home in Austin TX or Panama City FL. After all, when a potential buyer drives past a house for sale, he is far more likely to give that home a second look if the home appears attractive and well-maintained. While there are several steps a homeowner can do to create curb appeal, proper landscaping is one of the most important components.

When landscaping a home to create more curb appeal, there are several things that should be taken into consideration. Some of these include:

– The overall condition of the home
– The landscaping that is currently in place
– The climate where the home is located
– The type of landscaping found throughout the neighborhood
– The needs of the target buyer

If you already have some great landscaping elements in place, you might simply need to clean up what is already there before you put your home on the market. Simple things such as keeping the lawn mowed, trimming your bushes and edging your flower beds will go a long way toward making your home more appealing to buyers.

If your home is lacking in landscaping, you might need to do a bit more work before placing your home on the market – especially in a luxury market such as Steiner Ranch. Still, unless all of the other homes in your neighborhood are beautifully landscaped and your yard is barren, this doesn’t mean you should invest thousands of dollars into landscaping your yard. Rather, adding a few simple bushes and replacing bare patches of lawn with sod may be all that is needed. Throw in a few potted plants filled with colorful annuals and your yard will be sure to grab the attention of potential buyers.

When adding plantlife to your landscaping, be sure to select plants that are hardy in your climate. Ideally, you should select native, low-maintenance plants for your projects. Otherwise, potential buyers may actually be turned off by the amount of maintenance the plants require. As an alternate option, you might want to focus more on hardscaping or creating a rock garden. Both of these forms of landscaping help provide a well-polished and attractive yard, but they require very minimal work to maintain.

If you aren’t sure how to go about properly landscaping your home, you might want to consider contacting a professional to help you out. If landscaping is done properly, you are almost guaranteed to get a full return on your investment.

About the Author – Eric Bramlett is co-owner and broker of One Source Realty and specializes in downtown Austin real estate.

As a reminder to my buys and sellers, pay your insurance premiums and add coverage BEFORE an announcement of a tropical storm or hurricane.

Thanks to Kathy Holman for providing the following…

Once a storm gets into the Gulf of Mexico & within a certain distance of land, Insurance companies will no longer bind insurance.

Once that happens, lending requires evidence of bound insurance & proof of payment (cannot collect at close).

Please keep your insurance agent in the loop regarding your purchase so they can be aware of timing & we don’t get stuck.

It was easy. I priced the home properly, promoted it and marketed it where it would be seen by not only local agents but by millions of potential home buyers world wide.

That’s how you sell a home in less than 5 days – and not only get multiple offers but also a higher than asking price!

Best of all… It wasn’t a foreclosure or a short sale.

Now that’s how you sell real estate in Panama City, Florida!

If you are trying to sell your home in the Panama City/Panama City Beach, Florida area, ask yourself these questions:

• Has your home been sitting on the market awhile?
• Is your home being marketed properly?
• Is it sitting in the MLS gathering dust waiting for an agent to get a buyer interested?

If you answered yes to any of these questions, than you need to contact me today and I will sell it quickly and for the highest price possible.

This is not rocket science, it is simple marketing and pricing and having the most prolific and full featured website in the area which is visited by thousands of potential buyers.

Panama City Beach homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach condos for sale.

Jennifer Mackay
850-774-6582
Panama City Homes for sale | Panama City, Florida

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Panama City Condo and Home Sales:

• Panama City Beach Condo Sales
• Panama City Homes for sale

Foreclosures and short-sales. continue to be a significant factor in the recovery of the local real estate market.

These property types continue to drive sales as well as home and condo values .

Panama City Commercial Real Estate and Business Sales:

• Panama City Commercial Sales
• Panama City Businesses for sale

Commercial Sales gained slight improvements last month, which is a good sign the residential markets will begin to rebound.

Panama City Homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

“Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and get loads more!”

In a recent article by Brian Louis at Bloomberg.net, investor confidence in the commercial sector is on the rise in large part due to access to commercial credit and equity.

Commercial real estate transactions have surged over the past year as low interest rates made it cheaper for REITs and various private-equity buyers to purchase office buildings, retail space, industrial facilities, apartment communities, and health care properties.

Market experts see the trend continuing this year as consumer confidence builds and investors gain more access to credit.

Completed acquisitions by U.S. REITs more than tripled to $24 billion in the 12 months ended Feb. 28 versus the year before, according to data compiled by Bloomberg.

Dan Fasulo, managing director of Real Capital Analytics Inc., said he “wouldn’t be surprised” if U.S. commercial real estate purchases double in 2011 from nearly $140 billion last year.

Demand for commercial space plummeted during the credit crisis and recession, as investors had a tough time securing financing for new purchases or refinancing short-term debt from earlier deals. U.S. commercial property transactions plunged 89 percent to $66 billion in 2009 from their 2007 peak of $579 billion, reports Real Capital.

In addition to near record-low interest rates, a resurgent debt-securitization market is also driving the recovery. Commercial mortgage-backed securities issuance in the U.S. climbed from $2.1 billion in 2009 to $10.9 billion in 2010, notes Jones Lang LaSalle (JLL). Issuance is estimated to be more than $40 billion in 2011, “providing added liquidity to owners with maturing loans to refinance,” the JLL report states.

Source: “Commercial Property Deals May Double in U.S. as Blackstone Bets on Rebound,” Bloomberg (March 1, 2011)

Increased commercial sales and leases are a good indication that residential real estate values will also begin to rebound.

Benefits of renewed investment in the commercial sector includes: relocating families, new jobs, increased residential rental demand and increased tax revenue for cities and counties all of which aid in restoring confidence in the economy as well as both the primary and secondary housing markets.

Panama City Businesses/commercial real estate for sale

Owners, put my technology and marketing expertise to work for you. If you are interested in selling your home, business or commercial property, contact me today (850) 774-6582 for a free no obligation property and business value report.

Buyers, when you’re ready to purchase a Panama City home, condo, business or commercial property, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City commercial real estate.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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As a moving company with over 75 years of experience North American, has seen it all. If you want peace of mind on moving day here are five things we think you should never move without.

1. A Bright Tote Box: It’s easy to lose important paperwork, keys, documents and valuables on moving day. Set aside a special ‘moving day’ tote bag or box that is designated for items that need to travel with you. Purchase a box or tote bag that is brightly colored so that it doesn’t get confused with other boxes
2. Breakfast, Lunch and Dinner: On moving day it’s important that you make time for meals. Plan ahead so that you don’t skip meals. Even if you’ve hired a moving company to physically move your boxes, it’s important to stay fresh and alert for driving and coordinating box placement.
3. Multi-Colored Sharpies: Keep yourself organized by diligently labeling boxes with multi-colored markers. Think about using one color for each room or area of your house and then adding a detailed description of the boxes’ contents for reference at your destination.
4. H20: Stay hydrated during your move by stocking the fridge at your destination. Not only will you be happy to have water on ice while you unpack, but if you’ve hired movers they’ll be grateful to be offered some water for their hard work.
5. A Floor Plan: Create a rough map of where the furniture should be placed in your new home. This will help your movers, friends or family move furniture to the right place the ‘first’ time. Not only will they be grateful for only having to move your grand piano once, it will help you think through the layout ahead of time.

Now, with these five things and a good mover, you’re ready to face moving day head-on. Just remember to plan, stay organized and take care of yourself on moving day.

Panama City Homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

“Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and get loads more!”

Panama City Condo and Home Sales:

• Panama City Beach Condo Sales
• Panama City Homes for sale

There remains a significant number of distressed properties on the market, both foreclosures and short-sales. These properties continue to drive sales and have a significant impact on home and condo values .

Panama City Commercial Real Estate and Business  Sales:

• Panama City Commercial Sales
• Panama City Businesses for sale

Commercial Sales remain sluggish however we should begin to slight improvements in the commercial sector over the next few months which will continue to help the residential markets rebound.

Panama City Homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

“Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and get loads more!”

Often, visitors as well as locals will rent pontoon boats, personal water craft, go fishing or engage in any number of other water activities.

As well, I have quite a few customers who have purchased a vacation home and have decided to also purchase a boat.

Many of my customers are not only first time vacation home owners, but also first time boat owners.

For those of you both visitors and customers who may not be familiar with owning or renting a boat or other watercraft, there are both safety and maintenance issues that should be addressed prior to launching your boat.

Many of these issues should be addressed annually prior to launching and are easily managed with a few simple items.

Here is a short list of some tasks and issues you should address prior to launching your boat…

• Check the engine completely and perform any and all required maintenance. You may want to read your owner’s manual. If you don’t have one, many can be found on the internet and downloaded to your computer.
• If your boat has been sitting dormant for awhile you may need to replace the ethanol gas.   It can clog your fuel lines and your engine.
• Check and charge the battery if necessary
• Check and change the filters as required
• Check the trailer and perform any needed maintenance
• Put air in the trailer tires as needed
• Check and grease wheel bearings as needed
• Always perform a safety check before casting off
• Verify there are enough lifejackets in the boat for each person on boardBefore putting the boat in the water make sure the plug is in the back of the boat
• Do you have a sounding device on the boat such as a horn or whistle

A few things that are often forgotten and/or not thought of …

• Is your insurance paid?
• Is your registration up to date? Remember to carry the registration card with you.
• Do you have Sea Tow insurance?  If not, you may want to thing about getting it: http://www.seatow.com/
  • 5325 North Lagoon Drive,  Panama City Beach, FL 32408 (850) 234-2323

Buying a vacation home is  fun and rewarding, buying a boat to go along with that vacation home is also fun and comes with added responsibility.

It is highly recommended, that if you own or rent a boat you complete a boating safety course provided by the U.S. Coast Guard: http://www.uscgboating.org/safety/boating_safety_courses_.aspx

For a complete list of safety and maintenance issues for your boat, visit:

U.S. Coast Guard: http://www.uscgboating.org/

In addition, you obtain a free Vessel Safety Check (VSC) by visiting the Visual Safety Check Web site: http://www.safetyseal.net/

The Panama City Beach local coast guard
1700 Thomas Dr # 1,
Panama City
(850) 234-2031

Panama City Homes for sale

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

“Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and get loads more!”

Right Company

All insurance companies are rated by the state insurance commission wherever the company is licensed to underwrite insurance. The rating information is available online and should be reviewed during the evaluation process and prior to purchase of the policy. Big name auto insurers like State Farm and Allstate also offer home insurance but doing adequate research is key. A company’s proven payout record is essential to the financial future of the insured in the event of a catastrophic loss.

Experienced Agent

Prior to the purchase of the policy an experienced agent will ask appropriate questions that encourage the insured to improve the property in ways that will lower the risk of loss and reduce the premium associated with the policy. Changes to laws and insurance coverage rules directly impact the insured policy holder, and the experienced insurance agent will communicate actively with every person he represents. Any change that could save money for the insured must be communicated without the policyholder having to initiate the conversation.

Replacement Value

Premiums are directly tied to the amount of coverage written into the policy. The cost to replace the contents and rebuild the home at current market rates is considered to be replacement value. While market value policies are substantially less expensive, the homeowner will not receive enough funds to rebuild the home and replace the contents in the event of a total loss. All homeowners policies should be written to cover the replacement value of the home and the contents.

Sufficient Coverage

Every insurance policy contains stated coverage amounts that act as thresholds for the highest payout required from the insurance company. When replacement costs are underestimated, the benefit paid by the insurance company will not exceed the stated coverage amount. Specific cost estimates are provided to insurance companies by the construction industry based on location, labor costs, and material costs. Overstated coverage amounts are not beneficial because the insurance premium will be higher, but the insurance company will only pay the actual replacement value of the home and contents.

Liability Coverage

Every homeowners insurance policy carries a liability component to cover damage incurred to nearby property caused by an event on the insured property. Many insurance companies are offering umbrella liability insurance policies to cover the gaps left between each of the major insurance policy types like auto and home. The liability component of the policy has a separate stated coverage amount that acts as the payout threshold.

Safety Features

Lighting, railing, fire suppression, smoke alarms, and fire extinguishers are viewed by insurance companies as risk-lowering efforts by the homeowner. To encourage the use of each of these devices, the insurance company will lower the annual insurance premium for any home where these features have been installed and maintained in good working order.

Security Measures

Dead bolt locks, alarm systems, security screen doors, and cameras are acceptable theft and entry deterrents. Insurance companies will lower annual insurance premiums for homeowners who install security measures that lower the risk of loss of property. Specific statistics are maintained by the manufacturers, emergency responders, and insurance companies to assess the risk reduction associated with these measures. In certain locations, these measures are required for a homeowner to be eligible for homeowners insurance.

Policy Discounts

Insurance companies offer discounts to certain groups of people to reward policy holders for loyalty and perceived reliable lifestyle habits. Senior citizens are given premium discounts because they are perceived to be more mature and responsible about maintaining the value of the property. People who have multiple policies with one insurance company are awarded with discounts for keeping all of their insurance with one company. Keep in mind that even your credit score will affect home insurance rates so be sure to shop around. Agents do not always offer information about discounts, but every insured policyholder should ask for discount information.

Affordable Deductible

Every homeowners policy has at least one deductible that must be paid by the policyholder prior to the insurance company paying the claim. Care must be exercised to set the deductible at an affordable level to prevent hardship for the homeowner in the event of multiple losses. When the automobile is lost at the same time as the home, both deductibles will be subtracted from the insurance payout. If the insured is not able to afford the combined deductibles, the amounts are set too high. Very low deductibles will raise the annual insurance premium.

Specialty Riders

Valuable possessions are less expensive to insure under a rider that is attached to the standard homeowners insurance policy. Replacement values are provided by certified dealers of each type of item and attached as the stated payout for the specialty rider. The calculated risk of loss is lower for the rider because of the probability of loss. Specific statistics are tracked to set the premiums for each type of rider attached to a homeowners policy. Insurance agents should be given information concerning valuable possessions that are present in the home.

Choosing the Best Policy

Homeowners insurance policies are required by lending institutions that carry a mortgage against the property. Specific coverage amounts are required and the proceeds from the policy must be used to restore the value of the property to the prior condition following a loss. Certain home improvements will add to the value of the property but may actually lower the premium amount because of the safety or security added by completing the project. All information must be provided to the insurance agent on an annual basis to allow coverage amounts to be adjusted to prevent loss. The role of the insurance agent is to balance the risk against the cost for the benefit of the company and the homeowner.