Mortgage relief maybe as soon as April

Mortgage Relief Coming Soon!

....final details will be released Wednesday, but Donovan said the plan will allow borrowers with big debts from car loans, credit cards and unaffordable mortgages to have their home loans modified to lower the monthly payment, even if they are not in default.Borrowers who owe up to 5 percent more than their home’s current value will be able to refinance, as long as their mortgages are held by mortgage finance companies Fannie Mae or Freddie Mac. At the same time, loan modifications will be available for borrowers who owe up to 50 percent more than their home’s current value, Donovan said.A refinanced mortgage involves a new loan contract, while a modified mortgage involves changes to an existing one, such as extending the amount of time it takes to pay the loan back from 30 to 40 years, or lowering the interest rate.Testifying before Senate lawmakers, Donovan said, “We expect to see large numbers of modifications happen very quickly,” and hope it causes foreclosure rates to drop as soon as April.

source: NAR

www.realtordusek.com search for Naples FL homes for sale for free

Florida's Existing Home Sales Rose!

Florida's existing home sales rose!

Florida's existing home sales rose 24 percent in January, making it the fifth month in a row that sales activity increased year-to-year, according to the latest housing data from FAR. Florida Realtors also reported a 13 percent gain in statewide sales of existing condos last month. NAR reported that nationwide sales of existing homes - all housing types - fell 5.3 percent last month; at the same time, inventories fell to a two-year low.

Mortgage news!! Good News!!

Today's rates are:

Conforming loans up to $417,000
30 year fixed 5.375%
15 year fixed 4.875%

Jumbo ARMS up to $650,000:
5/1 ARM @ 4.875%*
7/1 ARM @ 5.125%*

*Add .125% to rate for jumbo loans up to $3mmMortgage rates hold below 5.5 percent

The Vineyards Naples FL

Unique opportunity to own an immaculate townhouse in North Naples? premier country club community. This spacious Vineyards property is located in an established gated neighborhood with heated pool just steps away. Master bedroom on first floor and two bedrooms on the second. Brand new Kitchen appliances,paint and granite counters. This property epitomizes the Florida lifestyle and is offered beautifully furnished. Roof and Air conditioner have been recently replaced. Move-in ready or great investment to rent. Act quickly!!

Price $379,000

Size # 3 Bedroom 2.5 Baths

ASKING ONLY $235,000--- NAPLES FL

Gorgeous two story townhouse. The beautiful new walnut flooring on the first floor and up the staircase sets this unit apart from the rest. Stainless steel refrigerator, neutral kitchen cabinets and countertops. The three upstairs bedrooms have been custom painted in warm tones. One guest bedroom has a tailored sitting storage window bench. The master bath has customized crafted shower tile. There is a fabulous recreation area with tennis courts, swimming pool and playground. This lovely home is convenient to 5th Ave. shopping, dining and the beaches. And look at those LOW HOA fees. “Brand new airconditioner 09/15/08”

BRIARWOOD-CLOSE TO OLD NAPLES AND 5TH AVE.

Florida Home Insurance Update! Very Important

Florida Insurance Commissioner Approves State Farm Withdrawal Plan, With Conditions
TALLAHASSEE, Fla. – Florida Insurance Commissioner Kevin McCarty today announced that he has conditionally approved the withdrawal plan submitted Jan. 27 to the Office of Insurance Regulation (Office) by State Farm Florida Insurance Co. (State Farm Florida) and State Farm Mutual Automobile Insurance Co. (State Farm Mutual). Today’s order allows the State Farm companies to move forward with their plan to withdraw from the Florida property insurance market, but stipulates several key conditions with which the company must comply.

Commissioner McCarty’s conditional approval order states in part:
State Farm Florida shall surrender its Certificate of Authority within 30 days;
State Farm shall facilitate the orderly transition of policies from State Farm Florida to the private marketplace in a method directed by the Office and shall not place any of the policies in Citizens;
State Farm shall not interfere with the appointment of its agents to other private insurance companies to place State Farm Florida policies directly with those other private insurance companies;
In an effort to minimize the impact of market disruption on all of its policyholders, State Farm shall issue pro-rata refunds of premium to any policyholder seeking to voluntarily cancel or non-renew a policy and will not short-rate the return premium for any policy in any line, whether it be automobile, boat, or property insurance coverage;
State Farm shall consider all offers to buy or assume all or part of its business. A copy of any such offer shall be provided to the Office within 48 hours of its receipt.

“I could not approve the withdrawal plan State Farm submitted, because, as Florida law states, I believe that plan was ‘hazardous’ to State Farm policyholders and to the public,” said Commissioner McCarty. “State Farm intended to dump all of its customers into Citizens; and that is not acceptable for their customers or for the people of Florida. We have private companies that are eager to grow their businesses, and I expect State Farm to fully cooperate in facilitating a smooth transition of their policyholders to those companies.

The law governing the withdrawal of an insurance company and the Office’s review of a withdrawal plan can be found in section 624.430(2), Florida Statutes.

State Farm now has 21 days to review Commissioner McCarty’s Order and to decide whether to abide by it or to request an administrative hearing by filing a petition with the Office.

A detailed chronology of all events associated with recent State Farm issues is available on the Office Web site, www.floir.com and in the Office’s Jan. 12 news release announcing Commissioner McCarty’s Final Order denying State Farm’s 47 percent average statewide rate increase. About the Florida Office of Insurance RegulationThe Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The Office protects Florida consumers through regulatory oversight of: insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. For more information about the Office, please visit www.floir.com. If you would like information about the Cover Florida Health Care Access Program, please go to www.coverfloridahealthcare.com.

Every home in this neigborhood are in the Millions
Come see why!

Uncompromising resort-style living in one of Naples Premiere Golf Club Communities. Nestled in the luxury enclave of “Terracina”, this 4000 sq.ft home offers a combination of informality with the great room concept of the family room/kitchen opening through the disappearing sliders to the oversized lanai, pool and spa along with the formality of a French Chateau. AN INCREDIBLE PROPERTY TO CALL HOME . Minutes to the beach and shopping. Award winning privately owned debt free Vineyards Country Club boasts two championship golf courses, 12 har-tru tennis courts, fine dining, large pool and fitness center.

Investment: $1,350,000

Size: 5,571 Total square feet

Location: The Vineyards Naples FL

Age: 2004

Home Owners Insurance Rates!!! F.A.I.R

click here www.Fairforcollier.org for lastest grass roots effort in Collier County FL. They are flight to keep insurance LOW!!! and in the state of FL

F.A.I.R. “Fighting Against Insurance Rates”

Glossary of Terms

Hardening your home – There are improvements you can do to your home to give you credit on your insurance premiums.
OIR – Office of Insurance
My Safe Florida Home- Free inspection for mitigation credits. May give up to $5000 of matching funds to help homeowner mitigate (harden) home.
Hurricane Model –Used to help estimate frequency and severity of storms risk and thus be a factor in determining how rates may be set..
Wind Inspectors – Inspect home to look for ways to harden home for insurance credits.
Ordinance or Law Exclusion –Must be offered to you by insurance agent. If a local building ordinance or law increases the cost of repairing or replacing your dwelling, the insurance company will not pay that extra amount, unless you had added ordinance or law coverage to your policy.
Actual Cash Value – The amount needed to repair or replace damage to your home after depreciation.
Surplus Lines Companies - Freedom from some insurance regulation, such as coverage and rate filings, allows surplus lines insurers to respond to unmet needs of insurance consumers. This is not an admitted company in FL. The Florida Insurance Guaranty Association does not provide any coverage for claims if a surplus lines company goes bankrupt.
Citizens Property Insurance – With the new law, Citizens will be writing multi – peril insurance, not just wind. They will be competitive with the private insurance market. State supported.
Replacement Cost – The amount needed to replace or repair your damaged property with materials of similar kind and quality.
Package Policy – Is an insurance policy that includes several kinds of coverage. For example, homeowners policies usually include property damage, additional living expenses, personal liability and medical payments.
All Risk or Special – Form Policy – Is one that covers the loss of property or damage that results from any peril, except those specifically excluded in the contract.
Condominium Insurance - Condominium unit owners form(HO-6) covers property and certain items not insured by the association’s policy against the perils included in Broad Form (HO-2 – covers all perils) .
Hurricane Dispute Mediation – Anyone with a disputed residential property hurricane damage claim qualifies for mediation, if the claim exceeds $500, not including the deductible.
Flood Insurance - This is a separate policy from your homeowners policy to cover rising water damage and should be at replacement cost.
Wind Inspectors – Will come out and check out your home to see how you can get credits on your insurance policy in order to reduce the amount of the policy. Most home inspectors who are general contractors are qualified to do this.

Consumer Helpline (Department of Financial Services) – 800-342-2762
FMAP – Florida Market Assistance Program – 800-534-9023 – can offer help if you can’t find coverage.
www.firmkeys.org Monroe County organization
www.fldfs.com –Florida Department of Financial Services
www.florir.com – Office of Insurance Regulations
Public Insurance Adjustors – Work with the public to assure you collecting on your claim.
Citizens Insurance – 888-685-1555; www.citizensfla.com
www.mysafefloridahome.com
www.shopandcomparerates.com
www.flash.org , Florida Alliance for Safe Home
myfloridacfo.com. Find out if insurance company is admitted (certificate of authority)or if it is a surplus company ( certificate of authority).

Statistics for Naples FL Real Estate

Here are some new statistics for Naples and Bonita Springs FL


Closed Sales
 Closed sales units are up less than 2% over January 2008. Volume is down 46%, reflecting the large number
of closings under $250,000.
 Median Sales Price for January is down 51% from January 2008.
 63% of closed units were priced under $250,000.
Pended Sales
 Pended sales units for January are up 65.5% over January 2008.
 Properties priced under $250,000 comprised 65% of January pendings.
Listings
 Number of new listings taken in January are down 9% over January 2008.
 Active listing inventory on February 1, 2009 was 13,944 (6,776 condominiums and 7,168 single family homes).
This represents approximately a 10% decrease from the same period 2008.

Meet the Family Team

Bobbie Dusek- (ABR, CRS,GRI, FAR, NAR, Realtor) Team Leader and Customer Service Manager. Bobbie is a native Floridian and a graduate of Florida State University. Her knowledge and experience in real estate is gathered from 27 years of holding a broker’s license in NY, PA, and FL. A current member of NABOR Legal Resource Committee, Bobbie is your representative to all contracts. Not only does she service her clients in real estate, but devotes energy to helping her community by organizing a not for profit organization in 2006 called F.A.I.R. (Fighting Against Insurance Rates) in Collier County.
Alex Dusek-(Realtor, NAR, FAR) Marketing Manager. With a 40 year career in advertising marketing and public relations he will be managing all aspects of your marketing and promotion. His creative thinking “outside of the box” will set your home apart from the others. Alex also has served in the Marines. His love for this area has led him to be a Naples Historian and finds the time to coach youth lacrosse.
Lynlee Dusek-(Realtor, FAR, NAR, E-Pro) Intelligence & Technology Manager and New Construction Advisor. Lynlee is a graduate from Roanoke College with a B.A in Sociology. She has worked for America’s premiere luxury home builder, Toll Brothers. She has extensive knowledge of new home construction. Her people skills were sharpened by 10 years as a Flight Attendant. Lynlee will serve you with the latest computer technology bringing the world to your door.