Debbie Albert's Blog

National Report shows FLorida Real Estate Prices are Up

“Consistent with other housing market indicators, the FHFA HPI showed stronger house prices in the first quarter, most notably in March,” says FHFA Principal Economist Andrew Leventis. “Increased affordability and a somewhat smaller inventory of homes for sale are positively impacting house prices.”

Findings:

• The seasonally adjusted purchase-only HPI rose in the first quarter in 30 states and the District of Columbia.

• The top five annual increases were Hawaii (10.3 percent), Washington, DC (9.8 percent), Iowa (5.7 percent),Florida (4.7 percent) and North Dakota (4.4 percent).

• Of the nine census divisions, the Mountain division experienced the strongest prices in the latest quarter, posting a 1.4 percent increase. Prices were weakest in the New England division, where prices fell -0.7 percent.

Who Believes the Housing Market Has Bottomed Out - Part 2 of a series

What other Realtors have to say:

Florida's Chief Economist John Tuccillo feels that there is an overall concern regarding shadow inventory flooding the real estate market in Florida. Shadow Inventory is bank inventory of delinquent and foreclosed loans. According to Tuccillo, the reality is that lenders have no reason to flood the real estate market with more homes if doing so would drive prices down and reduce the lender's profit.

Some worry that lenders are holding distressed homes on purpose, however the fact that a large number of distressed properties on hold is largely the result of confusion over the rules of the game.

"Now is the Time to Buy" seems to be Realtors permanent mantra, however realtors point to the data which shows that housing prices have been stable for over a year, and lately has a slight uptick. Inventory of houses for sale is down about 1/3 from a year ago on the Treasure Coast.

Martin Carmody, president of the Realtor Association of Martin County says that it feels like the worst is behind us. In Indian River County, Mike Lafferty, president-elect of the Realtors Association said he believes the housing market is at the very least touching its bottom point. He went on to comment that the pent up demand for properties under $120,000 have investors jumping into the market and that first time home buyers are finding great deals.

Who Believes the Housing Market has bottomed out? Part 1 of a Series

Who thinks that we have turned the corner? Well I think so. Here is why. Ron and I do a market analysis for both our buyers and sellers several times a week. We are seeing a real trend. You know what they say, if the uptick in prices sticks 3 months or more, you have a trend. We are seeing inventory drop and prices rise, so I believe we have turned the corner.

I also believe that since the banks have paid off the FED, that they will NOT release a flood of Bank owned homes and flood the market with them. That would drive prices down and that is simply not to their benefit (or anyone selling a home now either).

Sellers who have been waiting to sell are coming out with new listings now, buyers with low interest rates and who see that prices are trending up are buying now. This is all good news in my opinion.

In the interest of fairness, this is just the first article, and it is my opinion. Let's see what others have to say. We will be hearing from other realtors, lenders, appraisers, builders and independent observers and what they have to say on the topic. After considering all of the input from various sources, then let's make up our mind.

Something for Everyone - Port St. Lucie Events

Community Calendar

NEW LISTINGS

Gary Stewart Tribute:

Easy People Band, BBQ, Memorabilia, hot food, Vendors. Little Jim Bait & Tackle, 601 N Causeway, Fort Pierce, 1 p.m., May 26. 772-468-2503.

A Nation’s Gratitude:

Wreath-laying at the tomb of the unknown soldier.

Veteran’s Park, 600 S. Indian River Drive, Fort Pierce, 9 a.m., May 28. post358.com/index.html.

Tutor Training Workshop:

Learn to Read of St. Lucie County, 890 Delaware Ave., Fort Pierce, 9 a.m.-1 p.m., June 2. Prospective tutors should speak, read, write English. 772-464-2747.

SPECIAL EVENTS THURSDAY

Great Expectations Book Club: “Swamplandia” by Karen Russell. Fort Pierce Library, 101 Melody Lane, 10 a.m. 772-462-2787; library.

stlucieco.gov.

Oxbow and the Natives:

“How the Opossum Raises her Young.” Oxbow Eco-Center, 5400 N.E. St. James Dr, Port St. Lucie, 3:45 p.m. 772-785-5833; oxboweco.com.

Star Search: Fundraiser for Hospice of the Treasure Coast. Fort Pierce Magnet School of the Arts, 1100 Delaware Ave., 7 p.m.

Donation. 772-467-4278.

CPATC Parent Information Night: FAU/IRS Campus Building, MP 104/105, St.

Lucie West, 6 p.m. Ages 13-14. Register: 772-323-3747; rains.

erika@prepacadtc.org.

FRIDAY

Oxbow’s Treehouse Time:

Oxbow Eco-Center, 5400 N.E. St. James Drive, Port St. Lucie, 9:30 a.m., May 18. Age 5+. 772-785-5833; oxboweco. com.

Six Dollar Sale:

Manufacturers closeouts. St.

Lucie Medical Center, 1800 S.E. Tiffany Ave., Port St.

Lucie, 7 a.m.-5 p.m., May 18.

Benefits local charities. 772-335- 4000.

“What’s Free For Seniors”:

Hearing Loss meeting.

Meeting Room, St. Lucie Lanes Bowling Alley, 6759 S. U.S. 1, Port St. Lucie. 11 a.m., May 18. 772-466-5687; tcflhla@live.com.

Friday Matinee: “Matinee” (1993). Fort Pierce Library, 101 Melody Lane, 2 p.m., May 18. 772-462-2787; library.

stlucieco.gov.

May 25 “It Could Happen To You” (1994) Exchange Club Blue Water Open: Charity fishing tournament. Registration, Fort Pierce City Marina’s Tiki Bar, 6 p.m., May 18; captains meeting, 7 p.m., May 18; tournament, Fort Pierce City Marina, 1 Avenue A, 6:30 a.m., May 19. $200-$250. 772-532-9375. bluewateropen.org.

RECURRING EVENTS THURSDAY ARTS/CRAFTS

Beginning Oil Painting: Ar t Mundo, Art Bank, 111 Orange Ave., Fort Pierce, 1-4 p.m.

Prices vary. 772-766-0021; artmundo.org.

Morning Quilters: White City United Methodist Church, 810 W. Midway Road, Fort Pierce, 9 a.m.-noon. 772-344-3800.

Watercolor: Artist Nest Fine Art, 6550 S. U.S. 1, Port St. Lucie, 10 a.m.-12:30 p.m.

DANCE

Absolute Beginners: Line dance class. Community Center, 2195 S.E. Airoso Blvd., Port St. Lucie, 5:45-6:15 p.m.

$15 month. Register: 772-878-2277; cityofpsl.

Belly Dancing Class:

River Walk Center, 600 N.

Indian River Drive, Fort Pierce, 11 a.m. Ages 14+.

$45/mo. Register: 772-460-7971; facebook.com/ bellydancingclasses.

Belly Dancing Class: River Walk Center, 600 N. Indian River Drive, Fort Pierce, 7-8 p.m. Ages 14+. $15./ class-$45./month. 772-460-7971; facebook.com/ bellydancingclasses.

Flamenco Dance classes:

Civic Center, 9221 S.E. Civic Center Place, Port St. Lucie, 7:30-8:30 p.m., 10+. $10 per class. Register: 772-807-4499; 772- 873- 4691.

Line Dancing: Community Center, 2195 S.E. Airoso Blvd., Port St. Lucie. Beginners, 6:30-7:30 p.m.; intermediate 7:30-8:30 p.m. $6-$25/month.

772-878-2277; cityofpsl.com.

Line Dance Class: Walton Community Center, 11090 Ridge Road, Port St. Lucie, 7:15-9 p.m. $6. 772-370-1732; shark1185@aol.com.

Salsa: And other Latin dances. Magnolia Lakes at St. Lucie West, 101 N.W.

Magnolia Lakes Blvd., 7-9 p.m. $10/lesson. 772-486-9198; SalsaLessonsForEveryone.

com.

Square Dancing: River Walk Center, 600 N. Indian River Drive, Fort Pierce, 7 p.m. $6.

772-532- 0902.

EXERCISE/HEALTH

Capoeira: Casa Z Dance, 10540 S. U.S. 1, Port St.

Lucie, 8-9:30 p.m. Ages 16+. $70 month, first class free. 772-532-0094; verobeachcapoeiraabada.

com.

Easy Flow Yoga: Meditation, stretching, easy postures, all levels. Blue Petal Yoga, Unity of Fort Pierce, 3414 Sunrise Blvd., 9 a.m. $10-$40.

772-323-6714; bluepetalyoga.

wordpress.com.

Jazzercise: River Walk Center, 600 N. Indian River Drive, Fort Pierce, 5:45 p.m., $10-$32, $25 joining fee.

Judo For Kids & Adults:

Fenn Center, 1302 Virginia Ave., Fort Pierce, 5:30 p.m.

Ages: 6+. $45. Register: 772-801-3410.

Zumba: Port St. Lucie Community Center, 2194 S.E.

Airoso Blvd., 6-7 p.m. Ages 12+. $8-$30. Register: 772-529-2911; cgarcia715@yahoo.com.

Zumba Gold: Low-medium impact. Fit Image, 6977 Hancock Drive, Port St. Lucie, 11 a.m. 18+. $6 walk-in or Fit Image member. 772-252-9240; fitimage.org.

Zumba: Maravilla Center, 2622 Oleander Blvd., Fort Pierce, 6:30-7:30 p.m. $8. 772-971-7921;zumbawithcindy772@yahoo.

com.

GAMES

Bridge-Duplicate ACBL:

River Walk Center, 600 N. Indian River Drive, Fort Pierce, 12:30 p.m.

$5. RSVP: 772-569-3130; cityoffortpierce.com.

NATURE

Aquatic Preserve Eco Cruise: See alligators, turtles & birds. River Park Marina, 500 E. Prima Vista Blvd., Port St. Lucie, 1 p.m., daily. All.

$15-$23. Reservation: 772-489-8344; riverlillycruises.

com.

Indian River Lagoon Boat Tours: With Capt Chop.

Downtown City Marina, 1 Avenue A, Fort Pierce, 10:30 a.m., 1:30, 3:30 p.m., daily.

$23, adults, $20, seniors, $15, children. 772-216-1461; indianriverlagoonboattours.com.

Motorized Kayak Eco Tours: Indian River Lagoon.

North Causeway, Fort Pierce, Launch times vary. $60.

Reservation: 772-380-6815; motorizedkayak@gmail.cm.

Ranch and Wildlife Tours:

Red Stag Sanctuary, 11124 S.R. 68, Okeechobee, 8 a.m. and 4 p.m. $50-$65.

Reservation: 772-489-3683; flranchtours.com.

OTHER

Couponing Group: Swap coupons, make friends, have fun. Surfside Community Church, 3453 Sunrise Blvd., Fort Pierce, 6-8 p.m. 772-579-7576; surfsidechurch@yahoo.com.

Smithsonian Marine Research Station: Fa c i l i t y tours, speak with marine scientists 2-3 p.m. 701 Seaway Drive, Fort Pierce. Ages 16+.

Treasures in the Trunk Antique & Arts Fest: Antiques, artists and authors. Downtown Fort Pierce, Second Street, 8 a.m.-noon, 772-461-3991; treasuresoffortpierce.com.

Thirsty Thursday: Live music, cocktails. Civic Center, Port St. Lucie, 5-8 p.m.

SPORTS

Pickleball: Civic Center, 9221 S.E. Civic Center Place, Port St. Lucie, 9-11 a.m. $3.

Port St. Lucie Senior Softball: Sandhill Crane Ball field, Walton Road, Port St. Lucie, 8:30 a.m. Ages 50+. Register: 772-337-4319; Cespos5804@aol.com.

FRIDAY ARTS/CRAFTS

Intro to Still-Life/Drawing:

Art Mundo, Art Bank, 111 Orange Ave., Fort Pierce, 9-11 a.m. Prices vary. 772-766-0021;artmundo.org.

Oil Painting All Levels/ Waterpainting: Art Mundo, Art Bank, 111 Orange Ave., Fort Pierce, noon-4 p.m.

Prices vary. 772-766-0021; artmundo.org.

EXERCISE/HEALTH

Karate: Beginner through Advanced classes. Shoot Do Ryu Academy, 474 N.W. Lake Whitney Place, Port St. Lucie, 4:30-8 p.m. Ages 5+. 772-634-4268.

GAMES

Bingo: Knights of Columbus Council 7514, 451 S.W.

Ravenswood Lane, Port St.

Lucie, 4:30 p.m. doors open; 6:30 p.m. bingo. Ages 18+.

Duplicate Bridge: ACBL sanctioned, 2000 MP’s max.

Temple Beth Israel, 551 S.W. Bethany Drive, Port St. Lucie, 12:30 p.m. $6.

Reservation: 772-343-1189; dgmillenbruch@yahoo.com.

NATURE

Aquatic Preserve Eco Cruise: See alligators, turtles & birds. River Park Marina, 500 E. Prima Vista Blvd., Port St.

Lucie, 1 p.m., daily. All. $15$23. Reservation: 772-489-8344; riverlillycruises.com.

Indian River Lagoon Boat Tours: With Capt. Chop.

Downtown City Marina, 1 Avenue A, Fort Pierce, 10:30 a.m., 1:30, 3:30 p.m., daily.

$23, adults, $20, seniors, $15, children. 772-216-1461; indianriverlagoonboattours.com.

St. Lucie Foreclosure Report

According to www.RealtyTrac.com, Foreclosure rates are down 20% from last year. Nationwide, foreclosure filings — default notices, scheduled auctions and bank repossessions (commonly known as REOs) — were reported on 188,780 properties in April, the lowest monthly total since July 2007, RealtyTrac reported. Foreclosure activity decreased 5 percent from the previous month and 14 percent from a year ago.

You are Buying/Selling, Why You Need a Local Realtor

Ever hear the term – Real Estate is local. Well, these days, Real Estate is hyper-local. I am looking at areas in ST. Lucie that are On Fire – like Tradition with the jobs growth in the bio-tech, the Martin County Hospital being built, and the opening of Digital Domain Studios. Also the area is wonderful with the down town restaurants, events, (Kilwins Ice Cream – my main attraction), also the Big Box stores. I would love to live withing a bike ride to LA Fitness, Target, Michaels Crafts and Pier One Imports, among other great stores.

For information on happenings in Port St. Lucie, click here:http://www.cityofpsl.com/

HOUSE HUNTING TIP: Whether you’re anticipating competition or not, you should be preapproved for the mortgage you’ll need to complete the purchase before you write an offer. In competition, this will make a big difference, particularly if everyone else who is offering is preapproved. It also lets you know what you can afford. And, it puts you in a good bargaining position with the seller.

Why Sell Short and Not Allow the Bank to Foreclose?

While government loan modification programs have fallen short of the mark so far, there is another solid, sensible option for homeowners. It’s called a short sale—a sale to a buyer where the seller’s lender agrees to accept less than the full amount owned. Why proceed with a short sale?

Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.
Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.
Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.
Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.
Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.
One more tip. Don’t believe everything you read about how long short sales take and how few get finalized. Short sale timelines, while still longer than normal, are shrinking as lenders get their paperwork act together.