Â U.S. Treasury officials announced it was withholding
incentives from Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase
& Co. for incorrectly determining that many borrowers were ineligible for
HAMP modifications, a claim that the banks denied.Â Click here for the full story http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=261868
The Gulf oil spill hasnâ€™t ruined Floridaâ€™s economic recovery and the modest growth will continue this year, according to a new report. Recent report reinforces the consensus of economists across the country that, by the math, the recession has passed and a fragile recovery has taken hold. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=244198
Metro Market Trends reports increases inÂ the number of sales in Walton County, FL for May 2010 over last year at this same time:Â Single FamilyÂ Home sales (new and resale) up over 32%; Condos and Townhomes upÂ over 16% and Residential Lots up over and incredible 108%.Â The Trends also reports ForeclosuresÂ up 42%Â however Â Lis Pendens filed down over 17%.Â
In Okaloosa County, FL Single Family Homes sales (new and resale) up 19%; Condos and Townhomes up over 10%Â but Residential Lot sales down over 17%.Â Total number of ForeclosuresÂ up by 77%Â and number of Â Lis Pendens filed are down over 3%.
As a real estate professional and a 1099'er, myÂ income is based on forcasting/projections - sellable listings and buyer prospects.Â Expenese are fixed for the most part.Â This oil spill has putÂ a realÂ damper on sales.Â Â Buyers are putting "on hold" buying.Â How can one showÂ loss of income based on forecast?Â Let's be sure to differentiate between part-time real estate agents and the full-time professional whose lives depend on what they do everyday, day in and day out.Â Should NAR and their state associations take on more of a role in advocating this situation?Â I think with the numbers of Realtors in the country that NAR could step in and assist.Â After all what is RPAC for if not for the folks that support the PAC?