NORTON MUSEUM PRESENTS PHOTOGRAPHY EXHIBIT
Featuring as many photographers as possible, the Norton continues its longstanding commitment to furthering the visitor’s understanding of photographic history. A recent donation of 162 photographs, The Hunter Gifts, is now on exhibit until September 7^th. The collection includes the work of some of the most important photographers of the 20^th century. Six international photographers are paired together for easy comparisons of their work. The Norton Museum of Art is located at 1451 S Olive Avenue in West Palm Beach. General admission is $8, ages 13-21 is $3, children under 13 and members are admitted with no charge.

FORECLOSURE SEMINAR
EMPOWER YOURSELF! Attend FORECLOSURE SEMINAR, 7-9 pm, Tuesday 8/26 and Thursday 8/28 at the Deerfield Hilton, I-95 and Hillsborough Blvd. FREE pre-registration (561-338-2122 or www.iberiamortgagecorp.com.) or $10 at the door. Who should attend: First Time Buyers, Bargain Shoppers, Investors, Realtors. What you will learn: No credit or Challenged Credit, How to Profit from the Real Estate Mess, How to buy and repair a home with one loan; How the new House Bill benefits you.

DELRAY CULTURAL CENTER OFFERINGS COMING UP – GET OUT YOUR CALENDAR NOW

Songs, lectures and a variety of other special events are planned at Cornell’s Old School Square Crest Theatre, including big and small names with varied talents. “Altar Boyz”, a musical comedy, will open The Crest Theatre Main Stage Series November 14-16. The theatre’s season will conclude with “Romanza, the Art of the Tenor, April 3-5. From December 5-7, Spencer’s Theatre of Illusion will be appearing – maybe disappearing - featuring interesting theatrical elements. December 19-21 the Ballroom World Champion Tour will be held for dance enthusiasts. The latest incarnation of The Kingston Trio will present folk music January 16-18. The American Soul & Rock and Roll Choir will bring us cheer February 6-8. “Footloose,” based on the film, will present their national tour March 6-8. A new Celtic inspired dance production featuring Irish, Ottawa Valley and modern tap dancers, The Stepcrew, will appear March 20-22. The 2009 Lecture Series, held Thursdays at 2 pm, will include Secret Service Director Brian Stafford February 19, Author Michael Gates Gill March 12^th and author/photographer Lorraine Salem Tufts April 2^nd. Other presentations coming up include Tony Award winners Hal Linden, Tommy Tune, and Christine Ebersole with Grammy winner Billy Stritch, For tickets and more information call 561-243-7922, extension 1. The Crest Theater is located at 51 North Swinton Avenue, just north of Atlantic Avenue near the Delray Beach Tennis Center, in Old School Square. Individual tickets prices for Main Stage and Cabaret Series are $40 for matinee and $42 for evening. Individual lecture tickets are $25 for open seating (balcony) and $40 for reserved seating, which includes valet parking and post-lecture reception. Crest Theatre was voted BEST LIVE THEATRE by Forum Publishing Groups, The Best of Delray Beach Magazine, 2007. For seating chart, and more information on performances, see http://www.oldschool.org/crest.asp.

WHO IS BUYING IN FLORIDA?
According to the National Association of Realtors recent study, “2007 Profile of Florida Homebuyers and Sellers”, one in three Florida homebuyers is singe – 21% of 2007 new home purchases were made by single women and 12% by single men. 64% of the buyers had no children under age 18, but the median age of buyers was 43. For first time home buyers, 38% of 2007 home buyers, the median age was 32. 59% of homebuyers were married couples, 6% were unmarried couples. 18% were born outside the US. 27% bought new homes, 58% were detached single-family homes. Typical home had 1700 sq ft and was within 14 miles from their previous home. 98% of buyers ranked honesty and integrity as a “very important factor” when choosing a real estate agent. 90% of homebuyers financed their purchase. The report states that the typical home was on the market for 10 weeks and 33% of sellers did not lower their asking price before selling. Recent sellers typically sold their homes for 96% of the list price. 86% of home sellers reported that their home was listed or advertised on the internet. You can find the report at http://www.floridarealtors.org/LegislativeCenter/Research/index.cfm .

WIDESPREAD US HOME PURCHASES BY INTERNATIONALS

National Association of Realtors has estimated that between 150,000 and 190,000 homes in the US were sold to foreign nationals between May 2007 and May 2008. Florida, California and Texas were the most popular states. With the US dollar weakened compared to foreign currencies, US real estate was recognized as a good investment right now.

FYI: PENDING SALES JUMP UP

The pending home sales index jumped in July by 5.3%, rising in every region of the US. In the South, the index was up by 9.3%. Is a turnaround underway? This index measures signed sale contracts that are on the way to a closing, which is a leading indicator of home sales for the coming two or three months.

PBIA FEATURING PALM BEACH COUNTY ARTISTS EXHIBIT
An Opening Reception will be held at Palm Beach International Airport on Wednesday, September 10^th , 5:30-7 pm in the Airport’s Concession Mall, Level 2 Main Terminal, across from Travelers Lounge for exhibits of local paintings, sculpture, photography and mixed-media works, sometimes depicting the flora, fauna and natural places in the County. To see a virtual tour of the art, go to http://www.pbcgov.com/fdo/art/artworks.htm. The artworks, created by residents of various Palm Beach County cities, are for sale. Parking available in Short Term levels 4-7. The exhibit will be on display through September 24^th, and is sponsored by Palm Beach County’s Art in Public Places through a grant from the Palm Beach County’s Cultural Council. Selected works with are presented for four months and each exhibition features changing cultural and travel themes. Contact information for artists interested in submitting their works is http://www.pbcgov.com/art/FDORegistry.aspx.

MORE ON WORLD’S MOST EXPENSIVE HOUSE… NOW REPORTED TO HAVE SOLD FOR $750,000,000
Now comes word that the anonymous Russian billionaire who bought the exquisite Villa Leopolda historic estate on the French Cote d’Azur paid a higher price than previously reported. This purchase overtakes the previous highest purchase of a London home by Laksmi Mittal for his son for $236,000,000. (WOW these are all a lot of zeros!). Villa Leopolda is between Monaco and Nice, overlooking Cap Ferrat near Villefranche-su-Mer. It is a cream-colored turreted mansion with two guest houses. King Leopold II of Belgium built the villa in 1902. In 1916, King Leopold’s nephew and heir, King Albert I, turned the villa into a hospital for wounded officers during WW1. The Agnelli family later owned the property (Fiat auto tycoons) and held legendary jet-set parties in the 1960’s, with guests including Frank Sinatra and Ronald Regan (in his acting days). Fifty full-time gardeners are employed to take care of 20 acres of gardens and terraces, with 1200 olive, orange, lemon and cypress trees. The grounds are considered among the most spectacular on the Cote d’Azur. Seller was Lily Safra, widow of murdered banking billionaire, Edmond Safra. A Russian oil oligarch is said to be the new owner. But not Roman, Abramovich, owner of the Chelsea Football Club, who owns a $100,000,000 mansion near Antibes. It is reported that 60 villas and mansions on Cap Ferrat are owned by wealthy Russians.

HOLIDAY BOAT PARADE WILL GO ON
Canceled last year because of budget cuts, private sponsors have made it possible for the thousands who watch the Boat Parade to again do so on December 20^th 2008 starting at 6:30 pm at the C-15 canal (Boca-Delray line) and moving south along the Intracoastal Waterway. The sponsors to thank for allowing this 31-year old event to go on include Summit Brokerage, The Boca Raton Resort & Club, Loggerhead Marina, Florida Inland Navigation District and Marine Industries Association of Palm Beach County and The Greater Boca Raton Beach & Park District. Other sponsorships are available – email elilly@ci.boca-raton.fl.us or call 561-393-7827. As is the custom, boats will stop along the route at various docks and pick up donations for needy kids.

SOME OF THE “GOOD NEWS”
Affordable house prices combined with attractive exchange rates have resulted in our Canadian neighbors becoming the largest group of foreign buyers of homes in the United States, followed by buyers from the UK, Mexico, China, India and Germany. Since May 2007, foreign nationals have purchased between 150,000 and 190,000 homes in the United States. The most popular purchase was single-family vacation homes with an average price of $297,400. Florida led the way followed by Calfironia, Texas, New York, Washington and Nevada. Four out of Ten foreign buyers paid for their new homes with cash, compared to 7% of domestic buyers. Average stay for international buyers was 2.6 months during the year. 14% of purchases were $750,000 or more. This information is from the 2008 NAR Profile of International Home Buying Activity, a survey based on responses from about 4,000 Realtors who serve foreign buyers.

PLAN NOW: LOOK WHO’S COMING TO THE KRAVIS CENTER!

Carol Burnett (1/17/09)

Barbara Cook (12/16/2008)

Lily Tomlin (2-10-09)

Jackie Mason (2-2-09)

Steven Sondheim (2-4-09)

Marvin Hamlisch (3-8-09)

Patti LuPone and Mandy Patinkin, original EVITA stars (3-25-09)

Wynton Marsalis (1-28-09)

Dr. John and the Neville Brothers (3-3-09)

Led Zeppelin (1-13-09)

The Pink Floyd Experience (2-14-09)

Blue, a tribute to Joni Mitchell (1/2-4/09)

Kravis Membership is $75 and includes priority seating opportunities based on level of donation. Public tickets go on sale for 2008-2009 at 9 am on September 20^th. For more info call 561-832-7469 or go to http://www.kravis.org. Starting in October, for 11 sessions, “Movies by Moonlight” will be presented in the Gosman Amphitheatre including Grease, Sound of Music and Singin’ In The Rain.

AUGUST ADMISSION FREE FOR PALM BEACH ZOO
Grandkids coming for a visit? Palm Beach Zoo admission fees are waived in August and unlimited carousel rides are offered for kids age 12 and younger. There are over 100 shows a week and 1600 animals to visit. The Zoo is located at Dreher Park in West Palm Beach. Mission of the zoo is to provide an outdoor classroom of living creatures to foster awareness, appreciation and respect for the natural world. More info at www.palmbeachzoo.org.

WEST BOCA LIBRARY COMPLETION EXPECTED BY END OF SEPTEMBER Construction began in August 2007, and opening of the West Boca county library on 441 (State Road 7) near Yamato Road is planned before December. The facility will be 20,000 sq ft, with room to expand to 40,000 sq ft. The adult, children and teen areas will have about 30 internet and word processing computers. Computers with the Library catalog are available throughout the building; free wireless access will also be available throughout the building. Three meeting rooms are available, a large one for 70 people and a 50-seat room for children’s programming are included. There will be three private study rooms and a larger group study room, two express checkout stations and themed areas designed for young adults. There will be a total of 136 parking spaces. Materials can be returned at a drive-up as well as walking up to interior and exterior returns areas.

WORLD’S MOST EXPENSIVE HOUSE? $500,000,000!

Once owned by Bill Gates, La Leopolda, 10 acres, said to have the best views in Southern France, reportedly built by Belgium’s King Leopold for his mistresses, has been purchased by Russian billionaire Abramovich, reportedly for CASH. A regular 80% mortgage would have monthly payments of over $3,000,000!

MASTERS IN ENVIRONMENTAL EDUCATION TO BE OFFERED AT FAU
Did you know that FAU’s Pine Jog Environmental Education Center in West Palm Beach is one of the nations oldest nature centers and serves annually more than 25,000 students, 750 teachers and 12,500 adults? A 36-credit course resulting in a master’s degree program in environmental education, needing no additional state funding due to funds from a Pine Jog endowment, is being planned by the Florida Department of Education. It is noted that this is one field where there is a critical teacher shortage. There will be a conversion available from a track in the approved master’s degree in curriculum and instruction to a stand-alone degree in environmental education. The student can choose either to complete the track or transfer to the new degree program. The new program will be held in collaboration with FAU’s Pine Jog Environmental Center. The first Leadership in Energy & Environmental Design (LEED) certified “green” elementary school in the state is located on the pine Jog campus. An existing College of Education instructor who focuses on environmental education will be assigned to the program. Funds also come from a continuing contract with the Palm Beach County School Board.

LAST BOCA AIRPORT LAND PARCEL UP FOR BIDS AGAIN

“Letters of interest” in bidding were requested in the past for the 4.67-acre parcel of airport land, recently designated as non-aviation land (not needed for airport use). The bids received did not meet all the requirements, and another request has been made by the Airport Authority. This is the undeveloped land near the Muvico Theater and Premier Aircraft on Airport Road. Approved uses include business and professional offices, retail uses, banks and financial institutions, hotels and motels, educational institutions, radio or tv studios, indoor theaters, bowling alleys, recreational facilities and medical offices. Potential developers would need a conditional use permit from the city. Information about the proposal can be found at www.BocaAirport.com

GAS FOR LIFE?
The Florida Lottery is offering an 8-week “Summer Cash” drawing across the state to tap into the public’s frustration with sky-high gas prices. Prizes include “Gas for a Year” and “Gas for Life.” Tickets are $5. Grand prize is $250,000.

GO FOR IT!

HOW ABOUT A FREE RELAXING CONCERT THIS SUNDAY AFTERNOON?
“OCEANS 2” will present a concert on Sunday, June 29th from 3-4 pm at the Spanish Rivier Library on Spanish River Boulevard that is free to the public, as part of the Sunday Matinee Music Series. Skip Sheffield, columnist for the Boca Raton News and Bill Bowen, writer and editor at the Palm Beach Post will perform tunes from Simon & Garfinkle, Jimmy Buffet-style music, Beatles songs and others. For more information call Lisa Mansell at 561-451-3452.

Have you visited our beautiful Boca Raton parks? Some have ball fields for the school age children, some present shows, both at Sugar Sands Park. At South Inlet Park you have lots of sand to sit on, beautiful direct oceanfront views, a picnic and play area. Patch Reef has a community house with classrooms and meeting rooms and ball fields. Check them all out and enjoy our local facilities. You and the family can snorkel at Red Reef Park. For a large pool, head to Meadows Park. Call for their schedules… a great way to spend a Sunday and some have picnic facilities.

Red Reef Park -561-391-5014

Sugar Sand Park – 561-347-3900

Meadows Park - 561-393-7851

Patch Reef Park - 561-997-8504

South Inlet Park - 561-966-6600

ENJOY!

NOTE: YOU MUST MOVE OVER FOR STOPPED EMERGENCY VEHICLES ON HIGHWAY

With the primary objective to save lives of law enforcement officers conducting traffic stops, a statute passed during the 2002 session of the Florida legislature requires that motorists traveling on I-95 and other Florida highways with two or more lanes traveling in the direction fo the emergency vehicle “slow down” or “move over” and out of the lane closest to the vehicle as soon as its safe to do so, when approaching an authorized emergency vehicle stopped on the highway. Drivers are required to slow to 20 miles per hour less than the posted speed limit if 25 miles per hour or greater or travel at 5 miles per hour when posted speed limit is 20 miles per hour or less.

TEMPLE BETH SHIRA TO JOIN UNION FOR REFORM JUDIASM
Four years ago, five families formed Temple Beth Shira, West Boca’s Reform Synagogue, as a supportive congregation. Today more than 130 families are members of this multi-generational congregation, devoted to Torah, Jewish values, social action and community outreach. Members come from Boynton Beach to Coral Springs. On Friday, June 13^th the temple, in West Boca, will be officially welcomed into the Union for Reform Judiasm, the only West Boca Temple to be so affiliated. Attendance at the event is free. For more information call 561-912-1453 or go to www.templebeth-shira.org. The Temple offers a comprehensive religious school, bar and bat mitzvah training and small classes. There is an active sisterhood and brotherhood. Cantor Ellen Stettner is the spiritual leader. She served as Cantor of the historic Stephen Wise Free Synagogue, New York City, NY, from 1981 through 2002, and was the first person to have occupied that position. She also served Temple Israel in Melbourne, Florida, as interim Spiritual Leader, before accepting the position of Spiritual Leader of Temple Beth Shira in West Boca Raton. Services are held every other Friday at 7:30 pm at West Boca High School. For more information call 561-912-1453 or go to www.templebeth-shira.org.

ARTISTIC ENTRIES BEING ACCEPTED FOR “BOCA FESTIVAL DAYS”

Sign up by Friday June 27^th to submit up to two pieces of 2- and 3-dimensional work. Be age 18+, and send $25 entry fee per application. For entry form go to www.sugarsandpark.org or go to Sugar Sand Park Community Center. You can call Stacee Cooney at 561-347-3901. The Sugar Sand Park Community Center’s Juried Art Exhibition is part of the month-long Boca Festival Days event organized by the Greater Boca Raton Chamber of Commerce.

LOCAL SCHOOLS RANK HIGH

NEWSWEEK’s May 21, 2008 “TOP OF THE CLASS” article showed the following area schools in these ranks in the top 1000 of 1400+ public high schools in the US:

Suncoast Community (Riviera Beach) is #3

Dreyfoos School of the Arts (Palm Beach) is #33

Atlantic Community (Delray Beach) is #58

Boca Community (Boca Raton) is #146

Spanish River (Boca Raton) is #196

Palm Beach Gardens (Palm Beach Gardens) #663

West Boca Raton (Boca Raton) is 675

Jupiter (Jupiter) is #859

William T. Dwyer ( Palm Beach Gardens) is #978

Public schools are ranked according a ratio devised by Washington Post Education Reporter Jay Matthews: the number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a school in 2007 divided by the number of graduating seniors. All of the schools on the list have an index of at least 1.000; they are in the top 5 percent of public schools measured this way.

http://www.newsweek.com/id/39380

$232-MM – NEW WORLD RECORD FOR SALE OF RESIDENTIAL PROPERTY?
It is widely reported, but not yet confirmed that Lakshmi Mittal is ready to spend USD $23 2-MM on a home for his son, Aditva Mittal (pictured here), in London’s Kensington Palace Gardens neighborhood. According to Forbes Magazine, Lakshmi Mittal is the 4^th richest person in the world with an estimated personal net worth of $45-BB. Current property owner is Noam Gottesman, hedge fund manager.

MOST EXPENSIVE SINGLE FAMILY HOUSE SOLD IN BROKEN SOUND IN 2008 SO FAR
With golf, lake and pool views, a 5 bedroom, 7 ½ bath remodeled Harbour Green home with 5,254 sq ft was listed for $2,395,000 and sold for $2,035,000 in January 2008 after 100 days on the market. Built in 1992. The house is on a treed lot, less than ½ acre, on a cul-de-sac, has a decorative driveway with a 2-car garage. Living Room is 38’x21’, master bedroom is 24’x15’, chef’s kitchen is 23’x15.

2008 BEST RESTORED BEACH AWARD GOES TO BOCA RATON

One of 5 cities in the nation to win the award, The American Shore and Beach Preservation Association cited North Beach, located between Red Reef Park and Boca’s northern boundary. Successful beach renourishment projects have been completed on the central and south beaches, in 2006 and 2003 respectively. Beaches are restored for storm protection, habitat restoration and recreation. More than 370 beaches in the US have been restored along coastlines in Miami Beach, Coney Island and Venice Beach in Southern California. Three criteria are judged – economic and ecological benefits the beach brings to its community, the short and long term success of the restoration projects and the challenges each community overcame during the project. Judges commented that the North Boca Raton effort “is characterized by its longevity, environmental sensitivity and foresight. The three large Boca Raton beachfront properties are worth over $330-MM, making them the city’s most valuable asset”.

MEMORIAL DAY OBSERVANCES
At 9:30 am on Memorial Day, Monday May 26^th, join the Veterans Coalition of South Florida at Veteran’s Park for the annual Memorial Day program honoring armed services veterans. There will be a procession of colors, guest speakers and patriotic music. Bring lawn chairs. Veteran’s Park is located at 900 West Palmetto Park Road between Lyons Road and US Highway 441 in West Boca Raton.

FAU CENTER FOR HOLOCAUST & HUMAN RIGHTS EDUCATION STRAPPED - MAY CLOSE

FAU, working with the Boca Raton-based League for the Educational Awareness of the Holocaust (LEAH) is working to try to save the Center. The budget is about $200,000 a year, with half coming from the state through the university. LEAH picks up the other $100,000. State funding is from general revenue which has now been cut, so other funding sources are being pursued to prevent the Center closing. The Center provides curriculum for seven county school districts in the state, including Palm Beach and Broward. along with a lending library and professional development. According to US Rep. Robert Wexler, D-Boca Raton, the center “has been an invaluable resource for Holocaust survivors… it is essential that FAU keep this prestigious center open at a time when the scourge of genocide as well as anti-Semitism and Holocaust denial continues globally.” Wexler said the area’s congressional delegation is “ready to work…to ensure that this center remains open.” Other representatives signing the letter to FAU President Frank Brogan included Representatives Ron Klein, D-Boca Raton, Alice Hastings, D-Miramar, Debbie Wasserman Schultz, D-Weston, Lincoln Diaz-Balart, R-Miami and Kendrick Meek D-Miami. Brogan is expected to address a number of budget cuts at the next full meeting of the FAU Board of Trustees.

FOR BEST GAS PRICES:

http://autos.msn.com/everyday/gasstations.aspx?zip=&src=Netx

HOME SALES PREDICTED TO GO UP 20-30% IN 5 YEARS
Association of Realtors Chief Economist Lawrence Yun recently said of an area that was hard hit by the housing downturn, that “the worst conditions in the Tampa market may have already passed… I think the second half of 2008 will be better. But if I look at the long-term perspective, five years from now, comfortably, one can say home prices in this region will be 20-30% higher.” He also said that while sub prime mortgages made up only 9% of all mortgages in the US, they made up 53% of US housing foreclosures, dragging down the housing market. Yun noted, “There’s a change in the mood over the last couple of weeks,” and that mortgage rates are at near historic lows, business spending is strong and corporate profits are up, all good economic signs. No doubt this is good news for Florida’s east coast too. According to an article in Realty Times, Palm Beach County buyers have purchased 30 percent more single-family homes from February to March.

MORE GOOD NEWS (and some bad) ON THE HOME FRONT…
The National Association of Realtors sees a flat pattern in home sales which will improve over the summer. NAR Chief Economist Lawrence Yun says the recovery hinges on better access to affordable loans….(which is)… uneven around the country and sometimes within metropolitan areas. In many areas, buyers are looking at homes, but are slow to sign contracts, sometimes waiting for more affordable credit or turned off by unnecessarily restrictive lending practices. Real estate news is “local” with some areas showing sales increases and others not. Yun says, “It is critical to stimulate housing demand by inducing fence sitters back into the market. A home buyer tax credit on any home purchase would accomplish that.” The St. Joe Co., Florida’s biggest landowner, points to stabilization in residential inventory indicating the housing market may have reached bottom. CEO Peter Rummell says rather than “expect that prices are going to be lower tomorrow than today if they just wait,” buyers “must be “retrained” to recognize the importance of making home purchases now.” At Tuesday’s congressional hearing, it appears that mortgage lenders are pursuing unjustified foreclosures against struggling homeowners, piling on questionable fees and misstating amounts due. A law professor who analyzed the system testified that “bankruptcy gives mortgage services new opportunities to engage in abusive practices,” rather than offering families one last chance to save their homes from foreclosure. University of Iowa’s law professor, Katherine Porter’s review of 1700 recent Chapter 13 bankruptcy cases found that lenders regularly disobey laws and rules as they try to collect thousands of dollars more than homeowners feel is owed. Countrywide is cited for abuses, and in one case asked a bankruptcy judge to foreclose on a home though they were current on mortgage payments, and claimed the final mortgage amount was nearly $15,000 more than what the company claimed in bankruptcy court. Proof of payments closed the case. Senator Charles Schumer, D-NY, the subcommittee chairman, said that Countrywide “is at the top of the list” of firms responsible for the national mortgage crisis,” and that Bank of America “should think even harder” about whether to complete the purchase of Countrywide.

ROYAL PALM POLO SPORTS CLUB TO CLOSE
After 49 years of polo play, Royal Palm Polo, the last polo facility in south Palm Beach County, will close on May 15^th. It was one of the first polo clubs in the country to build a stadium, drawing players from the best in the world to weekend warriors. Equestrian followers can migrate to Wellington for horseshows et al.

DOWN MARKET SEEN AS “OPPORTUNITY” BY WEALTHIEST CONSUMERS

Of those who earn more than $100,000 annually, 79% believe the US is in a recession, but 88% believe that property values will rebound. Those earning $500,000 and more see real estate as a “real opportunity” right now, and 40% say they plan to purchase a home in the next 12 months, according to “The Annual Survey of Affluence and Wealth in America,” produced by The Harrison Group for American Express. Merrill Lynch and CapGemini’s research show the world’s very wealthy have been shifting money into residential real estate. The 2007 “World Wealth Report” said that those will $1-MM+ in invested assets had 12% of their investment portfolios in residential real estate, both a portfolio strategy and a recreation/lifestyle decision.

MORE GOOD NEWS ON THE HOME SALE SCENE (Keep it comin’!)…The Institute for Economic Competitiveness, University of Central Florida predicts that in 2008, there will be sales and rentals of over 150,000 properties. They also predict 175,000 new jobs will be available, strongly outperforming the national averages. Significant numbers of the 80-MM domestic and national visitors will consider buying second homes. Favorable exchange rates between the dollar and pound make homes in Florida cheaper than anywhere in Europe and are attracting particularly British purchasers. The Conference Board’s “Index of Leading Indicators,” reports that positive growth is indicated underway in the 2^nd half of 2008 or sooner. Doing in depth broad surveys of industry data, this report is taken as “the gold standard” for all forward indicators for the US economy. The National Bureau of Economic Research reports that US industrial production showed an upwards turn in March. The Mortgage Bankers Association of America reports from their national survey that applications for mortgages for houses were up by 2.1%; FHA loan applications up by 3.5%. The federal government reports that nationwide, prices of homes stopped slipping in January and February, increasing by 6/10ths of 1% (better up than down, ehh?). The Federal Reserve is predicted to lower the short term rates next week by another quarter percent. Interest rates remain low for 30-year fixed mortgages. Plans were announced by Freddie Mac to pump $15-BB+ into the jumbo conforming loan market especially for high cost areas needing stimulus NOW. Nevertheless a lot of home inventory remains before seeing a true end to the down cycle and some consumers have a lack of confidence in today’s prices, thinking they may go farther down. THIS MIGHT BE THE “LOW” IN THE MARKET… PERHAPS LOW ENOUGH TO MAKE THIS AN EXCELLENT TIME TO BUY. ARE YOU READY?

WILL THE FHA OWN PART OF YOUR/YOUR NEIGHBOR’S HOME?

Rep. Barney Frank (D-MA) has a proposal (H.R. 5830) introduced in the House of Representatives suggesting that the FHA refinance mortgages and be part owners with profit sharing. The bill proposes a declining percentage fee on profits to discourage short-term speculators, and the program would not apply to 2^nd home owners, equal to 100% of all profits in year one, 80% in year 2, and so on for the first 5 years. Then there would be an “exit” fee equal to 3% of the sale price. This means lenders would accept losses and would later receive a portion of future profits from the home seller. To the besieged homeowner/seller, getting 97% of a profit after 5+ years is a big relief from total equity loss from a foreclosure.

HAVE YOU ENJOYED THE MIZNER PARK ART WALK?

Stroll along a monthly al fresco art experience on Plaza Real. Next walk will be Wednesday, April 30 from 6-9 pm. Enjoy wine tasting, browsing the shops, and dinner inside or out at one of Mizner Park’s fine restaurants. The art show is done in cooperation with The Artists’ Guild of the Boca Raton Museum of Art, drawing visitors to Mizner Park for an evening of viewing art, music, and the latest show at the Guild’s Mizner Park Images Exhibition Center. For more info go to www.miznerpark.com or call 561-393-9115.

FLORIDA #1 DESTINATION FOR INTERNATIONAL HOME BUYERS
A mid-2007 National Association of Realtors survey found that Florida was the leader in foreign home buying at 26% of all international purchases. California was next at 16%, Texas third at 10%. This includes purchase of mid-priced primary residences, luxury vacation homes, investments to rent out, and commercial properties. Being a convenient point of entry to the US from Europe and South American along with warm weather and recreational and cultural offerings were cited as reason for a preference for Florida properties. With the dollar weakness against the euro and British pound, foreign buyers have more purchasing power compared to home prices in other countries, e.g. the UK, Span and Ireland. Florida has 31 major airports and 14 deepwater seaports. According to the US census bureau, Florida gets more than 4-MM Visitors from 100+ countries in a year. In a 2005 FAR survey, 15% of total home sales in Florida were by international buyers. One-third of foreign buyers were from Latin America.

MILD HOUSING RECOVERY ON THE WAY BEFORE 2008 YEAR-END???

YES says a report from SMR Research Corp, who specialize in mortgage and home equity loan industry research. Being the first to report in 2004 that “a perfect storm” in credit quality would cause a blast in foreclosures within 2 years, they say, “Our prior forecasts were accurate but widely disbelieved when issued.” They expect skeptical reactions now too, but say “the numbers are what they are… homes are now affordable again… consumer psychology is the biggest remaining hurdle to recovery.”

MILLION SQ FT TRI-RAIL STATION DEVELOPMENT TO BECOME A GO?

Within the next 60 days The South Florida Regional Transportation Authority, operator of Tri-Rail trains, has invited all interested parties to a workshop to decide whether to move ahead with a large development near the station in Boca Raton on Yamato Road near the I-95 entrance or scale it back. Officials are invited from the City of Boca Raton, FAU, T-Rex Park adjacent to the station. City leaders feel the proposed project is about 15 times too big for the site. Zoning allows no more than 50,000 sq ft of office space and 15,000 sq ft of retail space. Yamato Road Joint Ventures LLC wants to create a transit “village” with a 150- room hotel, almost 200 work-force apartments, 55,000 sq feet of shops and 90.000 sq ft of offices and parking garages with 1731 spaces. Tri-Rail owns the 6-acre parcel at the train station, and the city controls the zoning. County agencies and the Lake Worth Drainage District along with the City of Boca Raton may also have input. Another proposal from three Boca Raton developers has plans for a 3-story building with 50,000 sq ft of offices, 15,000 sq ft of shops and underground parking. Workshop date has not yet been announced.

TIPS FOR BUYING A HOME IN A DOWN MARKET
The subprime mortgage problem has scared a lot of people away from the housing market. However, the news isn’t all bad. The current market decline has dropped prices and made housing affordable to many fiscally responsible renters who never considered home ownership to be an option. Here are recommended steps for buyers to take advantage of this market downturn. Be aware of extraneous expenses including property taxes, homeowner’s insurance, standard maintenance, cost of utilities, and HOA fees or equity dues. Ask about current and upcoming special assessments. Decide how much you have left to spend on a mortgage, all closing costs, a down payment amount, paying down existing debts, and check on your credit records before applying in case there are errors to correct. Remember too that if you are selling and buying, while you may get a lower price than you want for your home, you will also get a low price for the home you buy. As a Realtor and a Mortgage Broker, your blog manager, Marilyn Farber Jacobs can assist you with all of these issues, and find you “the home of your dreams,” according to your criteria. Call 561-988-0070 or email marilynfjacobs@gmail.com. If you wish to receive all new properties that become available, go to http://www.FLWaterfrontCondos.com, register and list criteria for a condo, house or townhouse. Join the many buyers who regularly receive listings now. Perhaps your NEXT home will appear before your eyes, and Marilyn will be most happy to show you that home.

PALM BEACH INTERNATIONAL FILM FESTIVAL IN MIZNER PARK
The 13^th annual film festival begins April 10^th and is a week-long celebration of the past, present and future of independent film and cinema. There will be screenings of American and foreign independent features, shorts and documentaries of all genres, stimulating seminars and intensive film discussion groups, parties and informal get-togethers with filmmakers and industry professionals from around the globe, and more. See COMPLETE LIST OF FILMS and SCHEDULE OF EVENTS. The Palm Beach International Film Festival is a not-for-profit organization supporting film programs in local schools and dedicated to making a difference in the lives of future filmmakers. Proceeds generated each year are donated to schools, in the form of grants and scholarships.

SUNDY HOUSE, DELRAY BEACH HISTORIC BOUTIQUE INN
Located in the heart of historic downtown Delray Beach, and one mile from the fabulous beach at the end of Atlantic Avenue, the Sundy House is a boutique inn listed on the National Register of Historic Places. This secluded retreat is nestled within an acre of stunning tropical gardens. The Victorian inn’s 11 luxurious guest accommodations feature sumptuous décor and modern amenities. Sundy House hides within an acre overflowing with 500 tropical plant species. In every corner, you'll discover unique details: a bed suspended in air, a sunset painted on the ceiling, red-cork wallpaper, and blue suede walls. Swim with turtles and angelfish in the naturally filtered swimming pond. Venturing away from this self-contained wonderland only brings more pleasures, like snorkeling or windsurfing in the southern Atlantic, minutes away. Stay for Sundy's Sunday brunch, a lavish affair with everything from eggs Benedict made with Florida lobster to raspberry ham with mango cole slaw. Doubles from $175; 561-272-5678 Experience the award-winning Sundy House Restaurant, the elegant Roux Bamboux Lounge. Just 20 minutes from Palm Beach International Airport and one hour north of Miami, our superb location is easy to reach whether for business or pleasure. The Sundy House is mere steps from shopping, dining and cultural events, in a serene setting in which art, history and culture merge. Complimentary transportation to beach/downtown where life is GOOD and ACTIVE. Other awards include: The New York Post – “Florida’s Top 50 Hotels and Resorts;” Travel + Leisure – “Top 30 Inns in the U.S;” Palm Beach Post – “Best Brunch and Most Romantic Restaurant;” South Florida Parenting – “Best Romantic Getaway.”

SUBMIT YOUR WORKS OF ART INSPIRED BY FLORA, FAUNA AND NATURAL PLACES IN THE COUNTY
“Local Treasures” is the theme for the 2008 summer/fall exhibit being shown from May 7^th to September 24^th with works of art being featured in public buildings, parks and plazas. IF you have talent, submit your works, reflecting the theme. For details – click on “Calls to Artists” or mail a self-addressed stamped envelope to Palm Beach County Art in Public Places, 2633 Vista Parkway, West Palm Beach FL 33422. Deadline for submission of photo of item is April 18^th.

FIRST DONATION OF $1.25MM for FAU STADIUM from SmileXpress
Get ready to cheer for the home team! The proposed 30,000-seat open air Stadium at Florida Atlantic University in Boca Raton has received its first donation of $1.25MM from supporter SmileXpress, one of the largest teeth whitening dental spas in Florida, located in Boca, Ft Lauderdale, Wellington and Aventura, with plans to expand nationally. The funds will be forthcoming over ten years and are for a sponsorship, scholarship dollars for the athletics department and philanthropy that will assist with the construction of the open-air football stadium, slated to be completed in the fall of 2010. FAU’s plans include an “innovation village” around the Stadium with 5 apartment-style residence halls, 130,000 sq ft of retail and commercial units and a multi-use Convocation Center for the basketball program. Future seating expansion is possible, and a roof can be added. Total cost estimated for the stadium is just under $100-MM, with funding from private donations – no public funds including tax revenues are expected to finance the stadium. It will be located just north of the Breezeway on the main campus, adjacent to the burrowing owl sanctuary. The FAU Owls football team will be using the Stadium.