6,082,000 US MORTGAGES GOING UNPAID IN END OF JANUARY 2012 

IS THIS GOOD NEWS OR BAD?

Lender Processing Services, whose mortgage performance statistics are derived from its loan-level database of nearly 40MM mortgage loans, gives the above headline statistics for loans 30 or more days delinquent and in foreclosure, about 15% of all mortgages in the database.  

Nevertheless, they report that the delinquency rate is down 10%+ from January 2011, and foreclosure rate is up 1.1% compared to December 2011.  LPS says Florida had the highest percentage of non-current mortgages last month.
Capital Economics, a leading independent international macro-economic research consultancy, predicts the housing crisis will end in 2012 as banks loosen credit standards, now lending at 82% LTV with average required credit score to be 700.  They caution that, “Any improvement in credit conditions won’t be significant enough to generate actual house price gains.”  They also say that potential ramifications from the euro-zone pose a threat to future credit availability. “Shadow inventory” is not included, nor how long it will take for those properties, not yet on the market, to be sold.

HomeValueForecast mentions positive trends including an improving jobs picture, low interest rates and a slowing of distress sales on the market, but note that here too, the end of shadow inventory is not mentioned. They state that current Florida prices are at 2002 levels.

Now IS THE TIME TO BUY!

DISCOVER BOCA RATON'S

DISCOVER BOCA RATON'S

GUMBO LIMBO 

ENVIRONMENTAL NATURE CENTER

Founded in 1984, Gumbo Limbo Nature Center at 1801 North Ocean Boulevard is a unique, outstanding cooperative project of the City of Boca Raton, Greater Boca Raton Beach and Park District, The Palm Beach County School District, Florida Atlantic University (FAU), and Gumbo Limbo Nature Center, Inc. Each year, more than 100,000 local and tourist visitors receive valuable environmental education while enjoying respite from the city bustle.  Gumbo Limbo is a great place for all ages to visit.

As a beacon for environmental education, research, and conservation, Gumbo Limbo’s 20 acres of protected barrier island not only provide refuge to many varieties of plants and animals - some rare or endangered - but also represent a commitment to protect our natural resources by our members, volunteers, and the organizations that comprise the Center.

Florida boasts some of the most important nesting beaches for loggerhead sea turtles in the world, and also offers important nesting habitat for green and leatherback sea turtles, as well as the occasional Kemp's ridley and hawksbill turtle nests.  Florida's waters provide important development habitat for many species of sea turtles in a variety of life stages.  The Boca Raton Sea Turtle Conservation and Research Program works under permit from, and in coordination with, the Florida Fish & Wildlife Conservation Commission (FWC).

All species of sea turtles in the world are either threatened or endangered species. Sea turtles face many threats in the world today that were not an issue hundreds of years ago. 

Some of these threats include:

·         Collisions with boats

·         Direct and Indirect glow from artificial lighting

• Interactions from commercial fisheries
• Loss of nesting habitat
• Pollution

Gumbo Limbo instructs more than 10,000 Palm Beach County school students in coastal and marine ecology every year with programs constructed to meet the Sunshine State Standards Requirement in science education.  They monitor 500 nests a year within a five mile span of beaches and rescue injured turtles and release more than 6000 stranded hatchlings each nesting season. More than 50 programs are offered for children, adults, and families facilitated by qualified naturalists and biologists with Small class sizes and a low cost with more than 13,000 people participating annually.

The FAU lab conducts valuable scientific research which enhances our understanding of sea turtle behavior, physiology, and ecology.  The research creates practical applications in the conservation of sea turtles and other marine life.  The North Trails feature a Butterfly Garden, in full bloom in May and June.  The outdoor amphitheater holds plays.  The ¼ mile boardwalk is an opportunity to visit an ecosystem that once flourished thruout Florida before modern development and industrialization.  Take a free guided walk Wednesday mornings at 10 am.  Look into the half-day week long summer Environmental Camp where the children learn about about plants, animals and coastal habitats, and enjoy many other activities.

Visit Gumbo Limbo Nature Center to learn more about these threats and what you can do to help.   If you might like to volunteer, call 561-338-1588. http://www.gumbolimbo.org

The 7th annual festival celebrating sea turtles and our ocean environment will take place at Gumbo Limbo on Saturday, March 3, 2012! The fun begins at 10 am and lasts until 4 pm.  Admission is free.  Stroll around the lush grounds, visit environmentally friendly exhibitors, attend a performance by Sol Children Theatre, and learn how to make leaf prints! There will be plenty of fun for all ages, from arts, crafts, and games, to educational talks and guided walks through the hammock. Keep your eyes open for Luna, the NEW Green Sea Turtle mascot – a great photo opportunity!

LinkedIN's REPORT ON TODAY'S

HOUSING MARKET

Almost 11 million homes are now underwater, says financial information provider CoreLogic, a leading provider of financial, property and consumer information. Around 3.5 million homeowners are behind in their payments and another 1.5 million homes are already in the foreclosure process, according to online marketplace RealtyTrac, the Foreclosure Authority™ , that delivers in bulk the most current and most accurate foreclosure data.

Capital Economics, one of the leading independent macro-economic research consultancies in the world, providing research on the US, Canada, Europe, Asia, Latin America, the Middle East and the UK, and on the property sector expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability. 

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”  In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV. 

While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November, 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan. 

Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.

TRULIA REPORT: MORE PEOPLE 

WANT TO MOVE TO FLORIDA THAN LEAVE

DUE TO PRICE DECLINES

Trulia’s top 10 list includes the number of interested out-of-area residents compared to each resident considering leaving. A rating of 2, for example, means that two people are considering a home inside an area for every one person considering a move out:

1. Palm Bay-Melbourne-Titusville: 8.80
2. Lakeland-Winter Haven: 7.60
3. North Port-Bradenton-Sarasota: 6.62
4. Cape Coral-Fort Myers: 2.59
5. Tulsa, Okla.: 2.48
6. West Palm Beach-Boca Raton-Boynton Beach: 2.46
7. Fort Lauderdale-Pompano Beach-Deerfield Beach: 2.44
8. Riverside-San Bernardino-Ontario, Calif.: 2.43
9. Charleston-North Charleston-Summerville, S.C.: 2.40
10. Orlando-Kissimmee-Sanford: 2.30

New York is the top source of long distance (100 miles or more) home searches for properties along Florida’s Atlantic coast and Central Florida (e.g., Lakeland-Winter Haven, Fort Lauderdale and West Palm Beach).

MUSEUM OF DISCOVERY & SCIENCE

IN FT. LAUDERDALE OFFERS THE

WHOLE FAMILY A MEMORABLE DAY  

 

 

From the IMAX theater with 3D films for viewers wearing special glasses to the live shark tank which holds a giant megalodon shark, to a cyclone chair demonstrating inertia, you can see more than 200 interactive exhibits.  

 

Enjoy a Turtle walk, watch the playful antics of river otters in their habitat and take a ride through the Everglades in the virtual pressurized airboat in the new $25MM 34,000 foot Ecodiscovery Center which houses the Living in the Everglades exhibit.   Dig for fossils, hang out with bats, see alligators and iguanas.  Experience hurricane force winds in the Storm Center.  Watch the exciting science theater shows.  In one of the nine cockpit simulators you will test your pilot skills.  At the space exhibit, Runways to Rockets, take a simulated trip or Mars or the Moon.  

Across the street you can follow the one-mile Riverwalk Path on ther Las Olas riverfront and watch the boats going by, have lunch or dinner, and partake in the various outdoor fairs and exhibits held occasionally in the Esplanade Park.  A little farther down the block is the Broward Center for the Performing Arts, where you can end the day watching a Broadway play with spectacular sets, music and performers.

Hold your children’s next Birthday Party at the Museum or hold a special event.  Day camp is available for children.  The Explore Store has many educational and exciting games, toys, books and other unique gifts.  Open 7 days a week, admission prices vary.  The Museum strives to provide experiential pathways to lifelong learning in science for children and adults using exhibits, programs and films, and hosts about 400,000 people a year.  The Museum is located off Broward Boulevard, east of I-95; you can follow the signs to SW 5^th Avenue (Commodore Brook Avenue) and turn right- garage is on right and museum on left.   

“THE SKINNY” ON FORECLOSURES 

IMPACTING THE REAL ESTATE MARKET 

& SHADOW IN INVENTORY

150,000 properties were repossessed by lenders in the tri-county southeast Florida area since the 2007 crash.  CondoVultures.com reports that the repossessions equal about half the nearly 300,000 foreclosure actions filed during the same 5-year period.  They estimate than less than half of those properties repossessed by lenders have been resold to buyers.  They further estimate that this rate will continue steadily for the foreseeable future.

There was a 36% drop in year-over-year bank repossessions but that is rooted in part to issues related to the “foreclosure freeze” in 4Q 2010.  Some investors are concerned that purchasing bank-owned properties could lead to future title issues.

 With nearly 299,000 notices of default filed against borrowers, the Florida court system was over whelmed with foreclosure actions.  Today lenders plan for a 700-day repossession process with a cost of about $100,000 per property.  Generally bank owned properties generate lower average prices than short sales.

CoreLogic reports that at the end of October 2011 lenders had a “shadow inventory” of 1.6MM distressed properties and repossessed homes they had not yet put up for sale, down 16% from a year ago.  Florida is one of 6 sates accounting for half of these.  CoreLogic says in a healthy market shadow inventory should represent less than one month supply of homes; currently the figure is five months.

National Association of Realtors says 29% of November 2011 sales were short sales and bank owned sales.    Lender Processing Services estimates that there were almost 4MM homes in the foreclosure process or 90-days delinquent at the end of October.

No matter whose estimate we look at, it’s not a pretty picture!

DO YOU LOVE TO READ... BUT WISH IT WAS NOT SUCH A SOLITARY EXPERIENCE

DO YOU LOVE TO READ... BUT WISH IT WAS NOT SUCH A SOLITARY EXPERIENCE

Join almost 1.5MM readers and check out a social network for avid readers. List your personal collection and connect with “like [or unlike] minds.” Then browse THEIR collections and share ideas and opinions with reviews. You can join for free and can upgrade your account to catalog as many books as you want to. Head over to http://www.librarything.com.

Click the TALK section tab and then look at a topic of interest. Join one of the groups. Browse the Local entries for lists of book stores and libraries that are nearby. Click MORE and you can get free books and review them, e.g. for Amazon.com. Click Zeitgeist for 25 most reviewed books and other statistics. It probably won’t surprise you to find that J.K. Rowling and Stephen King are the top two of 75 authors. William Shakespeare is #7. TheTop 25 Books list gives places 1 through 8 to the Harry Potter Books.

THERE ARE 50MM UNEMPLOYED IN THE US - HERE'S A PHARMACY DISCOUNT CARD!

THERE ARE 50MM UNEMPLOYED IN THE US - HERE'S A PHARMACY DISCOUNT CARD!

FOR A CARD WITH YOUR NAME ON IT 
EMAIL  marilynfjacobs@gmail.com

CONCERNED ABOUT A NUCLEAR ATTACK ON THE US?  

 HERE IS A SOLUTION!

Silo missle sites in various states have been and are being converted into underground homes.

Taxpayers spent $3.3MM for a silo in Topeka, Kasas which has been converted to underground living quarters.  The silo was purchased for $40,000, in bad shape, in the 1980’s by a school teacher who, with his wife, has lived there comfortably ever after.

A 3’ layer of earth covers the top layer of reinforced concrete.  Floors are 3’ thick, walls and ceilings 18” thick and 15’ high.  The special concrete structure was built by the government to withstand a nuclear blast.   The folks who live in it say, “We love the solid, quiet feel of the place.  Not only is it very well built – it is very easy to heat and cool.”  This home has a large greenhouse around the hatch, which brings sunlight into the living space and was formerly used for heavy equipment to manipulate the missiles.  

About half of these former military sites are owned privately or by cities, counties, school districts, water companies and other commercial entities.  This is a niche market for a unique home for real estate agents.  The schoolteacher has made 55 sales, of which 5 have turned over more than once. They said that buyers include some military or former military personnel who are familiar with the silos, and know the benefits.  Others are looking for interesting projects to restore, and some want the seclusion, privacy and security.  Some buyers are survival-oriented.”

Mortgages and appraisals are a challenge.   “Prices have increased and are rising,” they said.

 

A former 14.5 acre Nike missile base in southeastern Indiana has been converted to three 5,000 sq ft residential spaces.  One features a kitchen, four bedrooms, two bathrooms, an exercise room indoor swimming pool and Jacuzzi tub.  All have single-phase electric, city water, paved access with remote-control rolling front gates and high security chain link fencing topped with barbed wire. 

An Atlas F site is for sale now in the Adirondack Mountains in New York.  Diameter is 52’ and depth is 180’.  It holds a 2300 sq ft 2-story contemporary home with 3 bedrooms, 2 baths, finished interiors, a spiral staircase, fiber-optic lighting, a generator and new well.  The floor plan is open, there is a large garage and wraparound porch that hides the underground entryway.  Price has been reduced from $4.6mm to $750,000.  The entrance features heavy security doors that were built to withstand a 2000-lb blast.  Location is on part of an exclusive airport subdivision on a 2050 foot Federal Aviation Administration-approved runway.

A communications vault in Paris, Missouri near the Mark Twain recreational lake is available, needing “fix-up”.  There are 8200 sq ft of usable underground floor space on this 13-acre site.  Ceilings and walls are 24” thick and 2’ to 4’ of earth cover the underground area.  A metal shield envelopes the structure and there are heavy blast doors with an emergency-escape hatch exit.  The property is available for $295,000.  Electricity works and most rooms have heaters and dehumidifiers.

Here is a unique living style which has a following of those seeking secure homes in hardened cold war facilities.