Lee Forbes PA

$120,000 remodeled Bradenton home for sale

2009-03-16T09:40:00.001-04:00

BRADENTON FL 34203 Manatee ALBERTA PARK M5802436

Address: 5612 23RD ST E
BRADENTON FL 34203
Neighborhood: ALBERTA PARK
Price: $120,000.00
Beds: 3
Baths: 1
Year Built: 1957

Square Feet: 960
Lot Size: .23

Click Here For the Virtual Tour!

Remarks:
Shiny new renovations Make this quiet east bradenton home a super value! New plumbing, updated electrical, complete kitchen upgrade, flooring andnew stucco and paint. Stop and see the great area with quick access to HWY 301 and I-75. no deed restrictions! work trucks are OK!

Click Here For More Information and Pictures

Note Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Listed by:: Forbes,Lee
Courtesy of:: RE/MAX Alliance Group
Direct phone:: 9417567777

Sarasota rental home

2008-08-03T10:02:00.000-04:00

Lee Forbes PA | RE/MAX Alliance Group | 866-829-4333

6448 Samoa Drive, Sarasota, FL

Lake Sarasota Annual Rental home

2BR/2BA Single Family House

$900/month

Bedrooms	2
Bathrooms	2 full, 0 partial
Sq Footage	1,087
Parking	2 dedicated
Pet Policy	Cats, Dogs (any)
Deposit	$500

DESCRIPTION

Lake Sarasota home now available for annual tenant. New carpet in the bedrooms and tile floors through out the home. Freshly painted interior and remodeled baths. Large fenced back yard for you to bring your pets. Washer and Dryer included!

see additional photos below

RENTAL FEATURES

Air conditioning	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Washer
Dryer	Laundry area - garage	Yard
Cable-ready	High-speed internet

COMMUNITY FEATURES

Garage parking

LEASE TERMS

Annual Lease accepting large pets with $300 fee. Security deposit is only $500

ADDITIONAL PHOTOS

Renter contact info:

Lee Forbes PA

RE/MAX Alliance Group

866-829-4333

Equal Opportunity Housing

Posted: Aug 3, 2008, 4:43am PDT

Gates Creek home for sale $160000 34212

2008-07-12T15:27:00.002-04:00

Lee Forbes | RE/MAX Alliance Group | 866-829-4333

11203 2nd Avenue East, Bradenton, FL

Location, Location, Location!

3BR/2BA Single Family House

offered at $160,000

Year Built	1998
Sq Footage	1,083
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	7,579 sqft
HOA/Maint	$60 per month

DESCRIPTION

Open and bright three bedroom home with large private fenced yard. East side Location, convenient to grocery, schools, YMCA, Parks, and the Manatee river. Come and enjoy friendly east side living and a newer home at an affordable price! East side Location, convenient to grocery, schools, YMCA, Parks, and the Manatee river. Come and enjoy friendly east side living and a newer home at an affordable price! No bank to deal with here, Just a great price on a great home.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Tile floor	Family room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Washer
Dryer	Laundry area - garage	Yard

COMMUNITY FEATURES

Playground

OTHER SPECIAL FEATURES

Great Schools!

ADDITIONAL PHOTOS

Seller contact info:

Lee Forbes

RE/MAX Alliance Group

866-829-4333

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 4, 2008, 6:53am PDT

Bring out the sunglasses!

2008-05-28T23:30:00.001-04:00

The future's beginning to look much brighter than before. Over the past couple of weeks, we've seen some indications that the worst of the credit crunch is over. Among them:
•
Market expectations have shifted toward the possibility of the Fed increasing interest rates, beginning in September.

•
Stocks have been on a tear, with the Dow up almost 9% since the middle of March.

•
Bond market volatility (daily price swings of bonds of all sorts) has declined.

•
The market's perception of banks' creditworthiness has improved to February levels.

•
The spread between key interest rates and Treasury yields has also been improving.
If these positive trends continue, short-term rates are likely to go up later this year. We do not expect longer-term Treasury rates to increase at the same pace.
Remember that as Fed Chairman Ben Bernanke pointed out last week, markets are still far from normal. The modest easing in credit is only part of the story. The outlook for housing and the economy still has bond investors a little spooked.
Consumers haven't seen daylight yetHome prices continued to fall last month, and foreclosures increased 65% over April 2007. As if the rapid decline in their home equity weren't enough, two other factors combine to make homeowners feel poorer:
1.

Debt. In 2006, the loan-to-value ratio of the average U.S. household (total debt divided by total housing value) was over 50%, compared to 26% in the U.K. and 9% in Japan.

2.

Inflation. The rise in prices (milk up 13% since last year, eggs up 25%, gasoline up 23%) is taking a heavy toll on consumers' spendable income.
As a result, consumer confidence has sunk to the level of June 1980. Back then the Iran hostage crisis was in its eighth month, President Jimmy Carter had just signed the Crude Oil Windfall Profits Tax Act, and the Dow was below 900 points. As we know, the '80s went on to be a period of great economic growth. Let's hope history repeats itself.
Business banks still have a tight grip on the purse stringsToday, almost 60% of banks report tighter standards for commercial and industrial lending. That's slightly more than the number reporting tighter mortgage standards. Because of the historically strong association between available business credit and employment levels, this is not a promising sign for economic growth.
Why the Fed can't just keep cutting ratesYou may be wondering, "If the economy gets worse, won't the Fed just keep cutting rates?" But two possible downsides make this a tricky choice:
1.

Inflation. If the Fed keeps rates too low for too long, the economy could eventually overheat, causing prices to rise too fast. (Think of trying to drive with one foot on the gas and the other on the brake.) This week's inflation data suggest that the economic slowdown may indeed be relieving some of the pressure on prices. But one week does not make a trend, and the Fed has clearly signaled its concern about prices.

2.

A further decline in the dollar. Reducing short-term interest rates lowers the return received by foreigners who invest in Treasury bills and other dollar-denominated debt. In the past, the U.S. dollar has been such a symbol of safety and strength that we've not had to worry about Fed rate cuts affecting its appeal. But as our creditors' own economies grow stronger, they may feel pressure to seek higher returns elsewhere. If they decide to stop buying our debt, we'll have to pay higher interest rates to entice them. With less demand for the dollar, its value will drop, which in turn will increase the price of imports. The result: more pain for consumers.
If the Fed does cut short-term interest rates further, we'll probably see long rates rise as inflation anxiety prompts investors to sell 10- and 30-year Treasuries. Higher long-term rates will make mortgages more attractive to domestic banks, a development that could take up any slack in the market caused by foreign selling. In this scenario, ARMs will look more appealing to investors, while fixed-rate mortgage yields stay in a relatively tight range.
It's not clear which path we're going to end up on. But until the data tells us that we need to worry about a deeper recession, the future certainly looks a lot brighter than it did a couple of months ago.

Looking to get a custom website up? See what $500 get's you

2007-11-16T14:10:00.001-05:00

Developing websites related to real estate has been a passion of mine for some time now. Working in our industry and finding ways to use the newest technology to sell real estate really captured me like blogging has most of us on the ActiveRain network. I would like to share free tidbits here on active rain in my blogs for the future many of the tricks I use to capture buyers and sellers from the web. And we all know how important t has become to have a web presence. I wrote this post to announce that I am willing to help other agents who are not in my immediate market area with implementing a fully functioning site. I can install Open-realty sites to servers and add custom templates of your choice for the price above. I can also customize sites or generate logos of pictures for you. All designs can be accommodated and updated and will reflect your branding.

With my installation, all you will need to know how to do would be "filling in the blanks" for your listings in text fields and "hitting the submit button." Upload pictures easily and have a SEO optimized site customized for you.

Here are some demos of the administration section of an open-realty site. Click here for PDF view

Expect to pay for my installation service 1 time, any specific custom template you choose (average $70.00, some are free), monthly website hosting ( I recomend Bluehost.com , about $9.80/mo) , and any custom work you want after the fact based on an hourly rate of just $23/hr.

visit these sites to view my work:

GulfsideLand.com LeeForbes.com AStepAbovePropertyInspections.com

BradentonFloridaRealEstate.com TheRealEstateZoo.com

MrLandman.com Organizeyourenergy.com HighlandRidgeFL.com

BradentonRealEstateClub.com

I work with:

Flash
html
java
php
SQL
Open-realty
Wordpress
Blogger
Video Production

I use the newest and top rated Professional software to develop my projects.

MS 2007 programs: Word, Excel, Power Point, Publisher, and Access
Adobe CS3
- Dreamweaver
- Acrobat 8 Professional
- Photoshop
- Fireworks
- Flash Professional
- Contribute
- AfterEffects
- Illustrator
- InDesign
- Premier Pro
- Encore
Windows Vista and Vista 64 bit
Many, many, many, many others

Please contact me with your thoughts or intrest in working together

Thank you kindly,

Lee Forbes CRS, GRI, ABR, E-Pro
Premier Team Inc., REALTOR©
3850 SR. 64 East
Bradenton, FL 34208

Direct: 941-725-4258

Toll free 877-646-8326

"We Make Real Estate Easy"

Visit my website LeeForbes.com

Awarded Top 10% in the nation for consumer satisfaction by the Internet

Consumer Group!

Blog Entry dated 10/29/2007 11:43 AM

2007-10-29T11:43:00.001-04:00

test

Blog Entry dated 10/26/2007 9:24 AM

2007-10-26T09:28:00.001-04:00

ure, you order takeout three nights a week, and preparing a burger tests the limits of your culinary know-how. But that doesn't mean you don't need and deserve a spacious kitchen. After all, the kitchen has evolved from a room where food is prepared to the hub of a house, where you do everything from eating casual meals to paying the bills and helping Junior with his algebra homework.

Plus, as long as you stick within the norms of the neighborhood, a kitchen expansion is one of the best ways to increase your property value, says Omaha appraiser John Bredemeyer, a spokesman for the Appraisal Institute. "A lot of people buy the kitchen and take the house that comes along with it," he says. "So going from a cooking kitchen to an entertaining kitchen is likely to pay for itself when you sell your house someday."

Best of all, you don't necessarily have to shell out the $50,000 to $100,000 cost of a kitchen addition. Here are some money-saving tricks for enlarging the kitchen - or at least making it seem bigger:

Reconfigure the eating area

Having a place to eat in the kitchen is essential, but even a 3½-foot-wide round table takes up a 10-foot-by-10-foot floor space to comfortably accommodate walking around it, says Denver architect Doug Walter. So consider these space-conserving alternatives:

Lose the table You could replace it with a diner-style booth ($2,000 to $5,000), which needs just six feet by eight feet of floor space and can be set directly against the wall or in an alcove. Or let a new countertop double as a breakfast bar by overhanging it 15 inches off a peninsula or an island. Opt for backless stools, and they can be tucked almost entirely under the counter.

Use the dining room If you rarely eat a meal in the dining room, consider knocking down the wall separating it from the kitchen to form an attached, everyday eating area. That costs about $1,500 (if you have to move a structural wall, it will cost another $4,500). You'll lose cabinets, but if you put a peninsula in the wall's place, you'll retain some storage space.

Maximize the space

Sometimes kitchen congestion can be resolved by updating an old-fashioned floor plan that's chopping up ample square footage with too many walls and other obstructions.

Annex other spaces Walk-in pantries, mudrooms and laundry rooms that abut the kitchen are often worth sacrificing for an expanded kitchen, says Charlotte, N.C. contractor John Harmon. Construction costs can be as little as $2,000, depending on the situation. And thanks to stackable laundry machines that can be tucked away in a closet and cabinets that can store as much as an entire closet in a fraction of the space, they won't be missed.

Move the sliders Replacing sliding-glass patio doors with a single swing-out door ($3,000 to $4,000) or relocating your backdoor out of prime kitchen territory ($5,000 to $7,000) can free up vital wall space for new cabinets and a countertop without adding any floor space.

Add on economically

If the only solution is more physical space, you may be able to do the job for less than the $400-a-square-foot (or higher) cost of a full-scale kitchen addition and remodel.

Add adjacent living space If what you really need is an eating area or a space next to your existing kitchen, build a family room, den or great room alongside it. The open floor plan will make the kitchen seem bigger, and the person cooking (or microwaving, as the case may be) will feel like part of the household activity. And because the new space won't require all the labor and materials involved in reconstructing a kitchen, the project will cost about $200 a square foot.

Hang a bump-out If your plans for the kitchen require just a little more room, you may be able to hang the space off the side of the house by suspending the additional square footage from the existing structure, much like a bay window. As long as the bump-out doesn't extend more than three feet beyond the main exterior wall, it should easily cost $2,000 less than if the contractor had to excavate the yard and pour a new foundation, says Walter.

Whatever technique you use to expand your kitchen, once it has an open, spacious feel, it's sure to become an even more popular hangout. Heck, it might even inspire you to break out a cookbook.

Can it get worse?

2007-10-24T20:21:00.001-04:00

sales are down,WAY down!!

The battered markets for real estate and home building still have farther to fall, according to a range of economists who spoke Wednesday at a forecast conference sponsored by the National Association of Home Builders.

The economists agreed that the problems with home finance markets will continue to hit housing into next year, and that even when there is a recovery, it will be a slow process that will see weakness continue into 2009.

While most said they believed the overall U.S. economy can weather the housing downturn, several saw significant risk of a recession. Mark Zandi, chief economist of Moody's Economy.com, said that large areas of the country will fall into recession, if they haven't done so already.

The economists also admitted to being surprised by how bad the housing downturn has become, and all said that making forecasts of a recovery is difficult due to the problems in the credit markets.

"This time, we just don't know how it's going to pan out because the securities markets have become so much more important," said David Seiders, chief economist with the builder's trade group.

Home sales: Record weakness

The conference was held in Washington, D.C., on Wednesday, as another trade group, the National Association of Realtors, was reporting the lowest pace of existing home sales since it started using current measures to track those sales since 1999. The sales of existing home sales slowed to the slowest pace since 1998, while the supply of homes on the market rose to its highest level in 12 years.

Zandi estimated that the excess inventory of homes on the market is close to one million, and he added that the glut could get worse if mortgage defaults and foreclosures increase, as it now appears they will.

"We're awash in inventory," he said. "I don't think this [credit] crisis is over. It's less stark than it was four to eight weeks ago. But I wouldn't be surprised if the embers which are smolder catch on fire again."

Thomas Lawler, a former Fannie Mae official who is now a private housing and finance consultant, said the easy financing terms of the boom years have been replaced by an overly restrictive lending environment. But even when underwriting standards return to more normal conditions, it won't be enough to lift demand and prices back to peak levels, he added.

"There's a part of the mortgage market that is gone for at least a while, and it should be because it should never have been there," Lawler said. "But that will slash demand. If the pace of building doesn't continue to fall, we'll see even worse price declines." He's now projecting prices down another 6 or 7 percent next year, on top of declines of that amount this year.

Staring into the mortgage market abyss

"The fact that building wasn't cut as early as it should have been is one of the reasons that that prices continue to fall," he said.

Still, Michael Moran of Daiwa Securities said he puts the chance of a recession at only about 30 percent, as employment and income should stop the housing market from going into a free fall.

"I think it's a blow the economy should be able to absorb," he said. "The housing prices are holding up reasonably well. If you look at the traditional determinants of housing demand, they're not that bad."

And Bernard Markstein, a National Association of Home Builders economist, said that the fact that home building isn't seen as coming back to 2005 levels or even 2006 levels for the foreseeable future isn't a bad thing.

"The real comparison should be to 2002 to 2003, back when we were meeting our needs, not to 2004 or 2005," Markstein said. "That's when we were overbuilding - we don't want to be there."

Blog Entry dated 10/17/2007 8:38 AM

2007-10-17T08:42:00.001-04:00

(9/17/07) - Lee Forbes of Premier Team inc. has successfully completed the REALTOR e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered through the National Association of REALTORS.®

The REALTOR e-PRO certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

With more than 70% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today's buyer and seller.

"The real estate industry has undergone a fundamental change over the past several years," said Lee Forbes of Premier Team Inc. "A majority of consumers are taking the time to conduct their own research prior to contacting an agent. In turn, real estate professionals must be knowledgeable of how technology can assist them in serving the needs of the buying and selling public."

The exclusive REALTOR e-PRO certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. Because of its innovative design, students are able to complete the course at their own pace, when and where they want, via any Internet connection. The course is designed to help REALTORS stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services. Consumers can identify the e-PRO through the exclusive e-PRO Internet Professional logo.

Both the content and the delivery platform were created by San Diego-based technology company InternetCrusade®. The course instructs participants in the professional use of e-mail, the development of an interactive Web site, and the use of online research tools. Graduates use the skills they've acquired to provide clients information on properties for sale, local communities, and the local real estate market.

For more information, e-mail Lee Forbes at Results@LeeForbes.com or call 941-725-4258.

Thank you kindly,

Lee Forbes GRI, ABR

Premier Team Inc., REALTOR©

3850 SR. 64 East

Bradenton, FL 34208

Direct: 941-725-4258

Toll free 877-646-8326

"We Make Real Estate Easy"

Visit my website LeeForbes.com

for FREE info:

· Mortgage Calculator

· FREE Online Newsletter

· Articles & Advice for Homebuyers & Homesellers

· FREE “What’s My Home Worth?” report

· Search the Manatee County Multiple Listing Service

Awarded Top 10% in the nation for consumer satisfaction by the Internet

Consumer Group!

Blog Entry dated 10/11/2007 9:46 AM

2007-10-11T09:53:00.001-04:00

The number of foreclosures across the country dropped in September, falling 8 percent from a 32-month high in August, according to a regular monthly survey.

Delinquencies and defaults fell to 223,538 filings, according to the latest data from RealtyTrac, an online marketer of foreclosure properties.

RealtyTrac also reported that nationwide numbers were down in all foreclosure categories, which include default notices, auction sale notices and bank repossessions, with 39 states reporting decreased activity.

But the figures were still double the number reported a year ago. "It's important to note that September's total was still the second highest monthly total we've seen since we began issuing our report in January of 2005," James Saccacio, chief executive of RealtyTrac, said in a statement.

Florida's foreclosure activity dipped 2 percent from August, but the state's foreclosure rate moved up to the nation's second highest, after placing third last month.

Rust Belt states, or those located in the nation's former industrial centers, that made the top 10 included Michigan (one in 314), Ohio (one in 319), and Indiana (one in 615).

Among the states with the highest foreclosure totals, Illinois was the only state to see a month-to-month increase in foreclosure activity with 8,257 filings, up 33 percent from August.

California claimed six cities among the top 10 metro areas for the number of filings. Merced topped the list with one of every 68 households, followed by Modesto, Stockton, Riverside-San Bernardino, Vallejo-Fairfield, and Sacramento. Detroit, Ft. Lauderdale, Cape Coral-Fort Meyers and Las Vegas also landed on list of worst hit metro areas.

California also led the nation in the actual number of foreclosures with 51,259 households in some stage of default during the month. Florida was next with 33,354 and Ohio, with 15,709, was third.

Washington D.C. saw the biggest drop in foreclosure activity in the U.S., falling 82 percent from last month.

Although foreclosures showed a broad-based decline, RealtyTrac still expects the number of filings to hit over 2 million this year

Don't be victimized by the bubble hype!

2007-10-08T08:38:00.001-04:00

Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price.

Additionally, the children of the baby boomer generation are close to or at the home buying age, but these "echo boomers" could mistakenly decide to put off the purchase of a home because of all the noise about a "bubble" in home prices.

Is there a "bubble"? The simple answer is "no". Even if interest rates move a bit higher, it won't be enough to cause a nationwide slide in home prices. The key to a healthy housing market is the job market. If the payment on a new home might be slightly higher due to increased interest rates, it generally won't stop someone from purchasing the home of their dreams...but if they feel their job is in jeopardy, it might be enough to stop them from making a move. So with the currently low levels of unemployment and the beefy gains in job creations, it looks like the housing market will remain vibrant. Although it will be difficult to sustain the double-digit gains that much of the country has seen, price declines are highly unlikely. Expect a more moderate rate of appreciation, perhaps closer to the historical 6-7% range, which is still very good.

It is important to note that housing tends to be localized. So if the job market in your area is weak, housing prices could under perform the rest of the country.

But this talk of a housing bubble has been going on for a few years now, and those who were unfortunately victimized by continuing to rent instead of purchasing a home are painfully mulling over their missed opportunity. But is it too late? Even with the more moderate levels of appreciation expected...procrastinating on that home purchase could cost you a bundle.

Let's look at an example. If you are paying rent at $1,500 per month and your landlord increases your payment by a modest 5% each year, you would wind up paying just about $100,000 over a 5-year period! Worse yet, after forking over $100,000, you still would have nothing to show for it.

And speaking of having nothing to show for it - how about any improvements you might make to a rental property? It's not uncommon for renters to freshen up the paint, install new light fixtures or plant some nice flowers outside. But guess what...all your efforts, labor and the benefit of that improvement belong to the landlord, not to you.

With the extensive variety of programs to help buyers obtain a mortgage with little to even zero down payment, the very same money could have been used towards home ownership. Even using a standard 30-year fixed program, a mortgage of $300,000 could be obtained with a total monthly mortgage payment - including property taxes and insurance - of around $2,200. I know taxes and insurance in Florida are higher. This is just an example: Assuming a 25% tax bracket, this would be equivalent to the average amount spent on rent during the same period after your tax benefit.

And the benefits of home ownership are quite considerable. Because the mortgage is being paid down each month, equity is being built. After 5-years, the $300,000 mortgage would be reduced to $279,000, adding $21,000 to your net worth. Home appreciation can add an even bigger chunk. If your home appreciates at a modest 5% per year, the value of a $300,000 home would increase to $383,000 after 5-years. Subtract the remaining mortgage of $279,000 and you have a whopping $104,000 of additional net worth! Even if the appreciation level were at 3.5% or half the historical norm, the result would be $77,000 of additional net worth.

But if laying out the initial increase in monthly payment and having to wait for your tax benefit to show up next April is a tough nut to crack, the IRS wants to help. Instead of waiting to file for the tax benefits derived from your new home purchase, you can simply adjust the amount of your withholding. This allows you to have less tax withheld from each paycheck so you can handle the new mortgage payment more comfortably throughout the year. In essence, you are taking your tax refund as you go instead of letting Uncle Sam hold it all year, interest free.

Visit http://www.irs.gov/ and use the IRS withholding calculator. This very handy tool can quickly show you the effect a change in withholding will do to your net paycheck. Remember to balance this with the expected refund and it is always a good idea to check with your tax advisor.

Don't be victimized by the bubble hype. Buying a home is a big step, but it is almost always one in the right direction.

Dollar Touches Another Low

2007-09-21T10:02:00.001-04:00

Lower interest rates, while used to jump-start the economy, can also weaken a currency by giving investors less return on investments denominated in the currency.

The Fed's move put more pressure on the U.S. dollar because it made returns on investment in other countries more valuable. The weak dollar also means that American goods are cheaper for overseas buyers, which can help manufacturing and producers, and it can help companies with big foreign operations turn a larger profit by converting overseas profit into dollars.

On the other hand, a steadily weakening dollar could also discourage foreign investors who buy the country's debt. As investment in U.S. Treasury securities dwindles, the government will have to pay higher rates at weekly auctions to find buyers for its bills, notes and bonds. That eventually could push up borrowing costs for all Americans.

It can also hurt companies in the euro zone. Speaking in a radio interview, Airbus executive Fabrice Bregier said that his company's "Power8" cost-savings and restructuring program was based on a euro-dollar rate of $1.35 and aimed at generating 2 billion euros ($2.8 billion) in savings. If the euro rises to $1.45, he said Airbus would have to seek another 1 billion euros ($1.4 billion) in savings.

Regardless of an ECB rate cut, David Jones, chief market analyst at CMC Markets in London, said fears of more U.S. interest rate cuts could drive the euro higher.

He said that remarks by Fed Chairman Ben Bernanke before the U.S. Congress on Thursday did not assuage fears about the U.S. economy, but rather "reignited fears that there may be further bad news to come with regard to the U.S. sub-prime mortgage market."

Both Archer and Jones said that those fears are putting more pressure on the dollar and causing buyers to look to safer havens, namely the euro and the British pound. It is also likely that the dollar will continue to weaken, pushing the euro higher in value.

Jones said that it's not quite a crisis for the dollar but "it's fair to say that confidence in the greenback has been truly shaken."

The Rates are Lower The Rates are Lower!!!

2007-09-18T16:24:00.001-04:00

Lee Forbes' Blog

The Rates are lower The Rates are lower!!!

The Federal Reserve cut the target on a key short-term interest rate by a half of a percentage point Tuesday to 4.75%, further acknowledgment from the central bank that the mortgage meltdown plaguing Wall Street and Main Street could have a negative impact on the economy.

"This took some investors by surprise. It's like the Christmas present you really wanted but weren't really expecting," said Gary Webb, chief executive officer of Webb Financial Group, a Bloomington, Minn.-based independent investment advisory firm with about $120 million in assets under management.

The cut to the federal funds rate, the first since June 2003, was widely anticipated by investors and followed a surprise cut to the Fed's discount rate on Aug. 17. The only question was whether the Fed would lower the federal funds rate by 25 basis points or 50 basis points. (There are 100 basis points in a full percentage point.)

On Tuesday, the Fed also cut its discount rate by another half of a point to 5.25 percent. The central bank said that the vote to lower both rates was unanimous.

Some investors had thought that Fed chair Ben Bernanke would take a more cautious approach and not cut rates by such a large margin, because a half-point cut could signal the Fed was acting out of desperation to save the economy.

The federal funds rate, an overnight lending rate that banks charge each other, is important since it influences the amount of interest consumers must pay for various types of debt, such as credit cards, home equity lines of credit and auto loans. The rate cut should help some beleaguered home borrowers who are set to see monthly payments on adjustable rate mortgages rise later this year.

In its statement, the Fed said that "the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally" and that the rate cut "is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time."

2 Story Lake front Home

2007-09-18T06:35:00.000-04:00

2 story Lake front

Listed by Lee Forbes

Images

Front

Fireplace in Livingroom

Master on Ground Floor

Master

Bright kitchen

35X12 Lani

What a view!

Fenced area

play area

BBQ anyone?

Address: 3317 49th Ave. E.
City: Bradenton
State: FL
Zip: 34203
Country: usa
Neighborhood: Manatee Oaks
Price: $200,000
Beds: 3
Baths: 2 1/2
Floors: 2
Year Built: 1986

Garage Size: 2 car attached
Square Feet: 1,435
Lot Size: 14026
Annual Property Tax: 2,619
Status: Active

Full Description: This elegant home overlooks a peacefull lake and preserve. Truely a fantastic community, with mature Oak trees and a central location for access to the interstate, highway 301, and Sarasota. Classy brick exterior and fenced yard accent the warmth of the fireplace, solid wood doors, and solarium off of the master bath. New A/C in 2006 and extra storage space through out the home.

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Waterfront

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Listed by: Lee Forbes

Do You Have Job Burnout?

2007-09-13T13:43:00.001-04:00

-- Do you think you never have or never will experience work burnout?

Consider these statistics:

• The American worker has the least vacation time of any modern, developed society.

• In 2005, 33 percent of workers said they would be checking in with the office while on vacation.

• One-half of workers reported they feel a great deal of stress on the job.

• Forty-four percent of working moms admit to being preoccupied about work while at home and one-fourth say they bring home projects at least one day a week.

• Nineteen percent of working moms reported they often or always work weekends.

• Thirty-seven percent of all working dads said they would consider the option of taking a new job with less pay if it offered a better work/life balance.

• Thirty-six percent of working dads reported they bring work home at least one day a week and 30 percent say they often or always work weekends.

These statistics, taken from CareerBuilder.com surveys of American workers, demonstrate the pressures employees in the U.S. are under to be available to the office, despite responsibilities -- or plans -- away from work.

All this, coupled with longer work hours and many individuals handling the workloads of two, can easily lead to worker burnout.

If you think burnout on the job is just an excuse used by the weak to get out of responsibilities, think again.

Stress and burnout can affect your immune system and has been linked to migraines, digestive disorders, skin diseases, high blood pressure and heart disease. It causes emotional distress as well.

"Job burnout is a response to work stress that leaves you feeling powerless, hopeless, fatigued, drained and frustrated," writes Dr. Audrey L. Canaff, a UC Foundation Assistant Professor in the Counseling Program at the University of Tennessee at Chattanooga in her article on WorkplaceBlues.com. "But since job burnout is not an overnight occurrence, it's important to recognize its early signs and to act before the problem becomes truly serious."

Consider these five warning signs of burnout:

Sign No. 1: Your co-workers are walking on eggshells around you.

If you find yourself becoming cranky and irritable with co-workers you used to get along with, it may be more than just typical interpersonal dynamics.

Sign No. 2: You come in late and want to leave earlier.

You used to wake up in the morning excited for another day, but now every day you dread heading into the office. Once lunch passes you start watching the clock, counting the minutes to the end of the day.

Sign No. 3: Apathy has replaced enthusiasm.

You feel no motivation, no sense of accomplishment and have no desire to be challenged. Those who have burnout lose their motivation to perform, as well as their feelings of pride for a job well done.

Sign No. 4: You've lost camaraderie with co-workers.

You're no longer interested in the company network. You used to go to lunch, go out for drinks and participate in other company functions but now have no desire in socializing in or out of the office.

Sign No. 5: You're feeling physically sick.

You always feel exhausted, have headaches, feel tension in all of your muscles and are having trouble sleeping. These physical signs are common indicators of job stress, and demonstrate that this can turn into a physical problem.

If you are experiencing these symptoms, it's time to make some changes.

You can start by talking to your boss or someone in your human resources department about how you can confront the problem together by redefining deadlines, delegating or outsourcing a project or two. In her book "Stress Management for Busy People," Carol A. Turkington recommends taking these proactive steps:

Learn to say no.

Reevaluate your goals.

Reduce your commitments at work and at home.

Learn stress management skills.

Get plenty of rest and eat a healthy diet.

Finally, give yourself a break.

This means taking your vacation days, no matter how important your job is, and taking little breaks every day to re-group, re-energize and unwind.

Remember, if you don't take care of yourself in the office, your work will suffer and your health may pay the price, too.

Countrywide loan biz hits big slowdown

2007-09-13T09:41:00.001-04:00

Countrywide loan biz hits big slowdown

Embattled mortgage lender reports double-digit decline in August, blames falling home values and decaying credit quality.

Countrywide Financial Corp. said Thursday it lent less money during August as a protracted housing slump kept prospective home buyers out of the market.

The nation's biggest mortgage lender issued $34 billion in home loans last month, a 17 percent decline from the same period in 2006. The company processed $2.3 billion in loan applications a day, marking a decline of 12 percent.

Countrywide said the decline reflects current conditions in the mortgage industry, which include slipping home values and decaying credit quality. Loans in the pipeline at the end of August shrank to $52 billion from $64 billion at the end of August 2006.

In response to the shakeout in the mortgage industry, Countrywide has sold a chunk of itself to Bank of America Corp. who arranged to borrow more cash from banks and announced plans to trim its workforce by as much as a fifth.

The company still expects to be a beneficiary of the turmoil in the mortgage industry as the squeeze forces some of the weaker players out of the game.

Soldier returns home to see his 6 year old son

2007-09-11T11:31:00.000-04:00

Everyone should see this video

Countrywide is looking for another hand to right the ship!

2007-09-11T10:04:00.001-04:00

Countrywide is looking for another hand to right the ship!

Facing cash crunch, embattled mortgage lender is looking to strike deal similar to Bank of America bailout, paper reports.

-- Troubled mortgage lender Countrywide Financial is putting together its second multi-billion dollar bailout plan in less than a month as it continues to face a cash crunch, according to a report published Tuesday.

"Countrywide is in desperate need of cash right now to continue funding mortgages and the credit markets are still largely closed to them," one source told the New York Post.

Citing sources familiar with the matter, the Post reported that Countrywide was looking at creating a strategic investment similar to the deal it struck in August with Bank of America.

Last month, Bank of America provided $2 billion in financing to Countrywide in exchange for a stake in the company.

So far, JPMorgan Chase, and Citigroup as well as several hedge funds have expressed interest in assisting Countrywide, according to the paper.

Sources told the Post a deal could be reached by the end of the month.

The report is the latest woe for Countrywide. Last week, the company announced it planned to slash as many as 12,000 jobs over the next three months. And Monday, two of its largest shareholders revealed in a regulatory filing they cut their stakes in the mortgage lender.

Blog Entry dated 9/6/2007 11:36 AM

2007-09-06T11:38:00.001-04:00

Pre-Foreclosure Short Sale Investor Workshop

Thursday, Sept. 20th, 7:00 p.m.

Short Sale Secrets Revealed

This 90 minute workshop is led by a panel of experts who will share their knowledge and help you learn how to explode your income during the next 12 months.

What you will learn:

· Why Investors should be excited about short sales.

· How to find motivated sellers.

· What to say to sellers.

· How to evaluate the deal

· What’s in a short sale package

· What to say to the bank to get them to agree to short the loan

· How to get the appraiser on your side

· How to find buyers and sell your home fast

· How to do a simultaneous closing

· Real deals right here in the Manatee – Sarasota area

When: Thursday, September 20th, 7:00- 8:30 pm (Refreshments & networking at 6:30pm)

Where: Tidewater Preserve Welcome Center 4700 Tidewater Preserve Boulevard (Near SR 64 and I-75)

Directions:From I-75 take Exit #220 West . Go West on SR 64 approximately 2.25 miles to 48th Street Court, make a right turn (heading North). Turn left before the Tidewater Gate House to the Welcome Center.

Hosted by: Dan Forbes & Marie Avery, Premier Team Inc., REALTORS and the Bradenton Real Estate Club

$10.00 if paid in advance; $20.00 at the door. Seating is limited, register today!

ONLINE REGISTRATION: http://www.bradentonrealestateclub.com/seminar.htm

TELEPHONE REGISTRATION: 941-746-0505

Lee Forbes
Premier Team Inc., Realtors
Office 941-746-0505
Toll Free 877-646-8326
3850 State Road 64 E.
Bradenton, Florida 34208
results@leeforbes.com
www.LeeForbes.com

Licensed in the State of Florida
Serving Florida's Gulf Coast

It's all Flippers fault!!

2007-09-04T10:09:00.001-04:00

Flippers and other speculators investing in single-family homes helped drive up prices in many hot housing markets during the boom. Now they're contributing heavily to mortgage delinquencies in several of those markets.

Defaults in non-owner occupied houses are driving defaults in four of the states with the fastest rising default rates in the nation, according to a report released Thursday by the Mortgage Bankers Association.

"Defaults are on the rise in most parts of the country, but...it is not always the case of a homeowner losing his or her home," Doug Duncan, the MBA's chief economist, said in a statement, "but [it's] often the case of an investor gambling on a continued increase in home values and losing that gamble."

Several sun-belt states were magnets for real estate speculators during the home-price boom. Coastal California led the early charge, but as prices there raced ahead of affordability, many investors abandoned those markets for Central Valley cities as well as Las Vegas, Phoenix and other Arizona towns.

Florida drew droves of investors from the Northeast, who spurred a rash of condo development in Miami, Ft. Lauderdale and other coastal towns. Single family home prices were also driven up in towns all over the Sunshine State.

Mortgage applications slip

As of June 30, in Nevada, 32 percent of all prime mortgages in default and 24 percent of subprime defaults were on non-owner occupied properties, according to the MBA. The numbers for Arizona were 26 percent prime and 18 percent subprime. In California, they were 21 percent and 15 percent respectively.

The default rates in Florida for non-owner occupied homes were 25 percent for prime loans and 14 percent for subprime ones.

In the rest of the nation, non-owners accounted for just 13 percent of prime loan defaults and 11 percent of subprime.

Foreclosure rescue scams

"California, Nevada, Arizona and Florida were among the states with the fastest home price appreciation over the last five years. This...attracted both speculators and home builders, a volatile combination that led to an over-supply of homes that was beyond the capacity of the local populations to support," Duncan said.

"When this over-supply became apparent and prices began to fall, many of these investors simply walked away from their mortgages."

In Nevada and Arizona, 29 percent of all the prime mortgage loans written in 2005 were for non-owner occupied home purchases. In California, it was 14 percent and in Florida, a whopping 32 percent, according to the MBA.

The subprime figures for non-owner occupied home purchases were 14 percent in Nevada and Arizona, 15 percent in Florida and 7 percent in California.

We Got FIRED today ~ read and help us recover.

2007-08-31T09:57:00.001-04:00

We Just Got FIRED

Procter and Gamble just fired us. They gave us the right to sell Crest for $35.00 a tube for the last six months and we didn’t get one offer. The market is bad, we knew that, but we advertised the hell out of it. They said we’re through, and now they’re going to give this opportunity to someone else (oh darn!).

“But we do advertising better than anybody”, we told them. “You didn’t produce”, Procter growled as Gamble snarled through grimaced, Crest -streaked pearly whites, “You didn’t advertise it Right!” (They are such a lovely couple.)

We can’t, for the life of us, figure out why it didn’t sell. Lets see how we advertised it, and maybe you can tell us where we screwed up.

Internet:

80% of all people with a toothbrush look here first. So this is where we targeted our advertising first.
We hit all of the usual and customary sites, including Who’s Who in Luxury Toothpaste and Luxe Dental Portfolio.
We even put it on Craig’s List.
A also did a custom Website with a virtual tour of a good mouth brushing and a Dental Tips Blog.

The Dental Registry (DLS):
We’re all over it, and Dental.com (DAR) too.

Television:

We did co-branded television and print campaigns. They were saturative, and based on focus group findings of what people most expect in their high-end toothpaste.

Campaign spokesanimal was Bugs Bunny.
Footage of Bugs had starlight filters on his two front teeth, which sparkled a plenty from every angle.
Featured celebrity endorsements from Mr Ed, Francis the Talking Mule, Bucky Beaver and a cable television special targeted to the youth demographic of Butthead getting his braces off. (Like Butthead, we still couldn’t score.)

Magazines:

Coordinated print campaign that ran concordant to television spots.

Bugs was featured first, with teeth prominent in all print ads. (Starlights added graphically to teeth.)
Included Scratch and Sniff Pages in Vanity Fair, Cosmopolitan and other high profile publications.

Newspapers:
National PR campaign to generate news, plus “Name That Rabbit” contest in local newspapers.Direct Mail:Postcard campaign to everyone in our data base who has a mouth.

Grocery Stores:
Point of Purchase Displays.
End Aisle Free Brushing stations w/ teaser samples.

Whew:
We were exhausted when it was all over. No stone was unturned in our effort, yet no sales.

What Did We Do Wrong?
That is the question. And we have no idea.

With everything we did, why could we not sell Crest for $35.00 a tube?
What can we do to stop Procter and Gamble from giving someone else this opportunity?
What does selling Crest for $35.00 a tube have to do with selling a house?

================

Copy of a Blog post by Gary Bolen

Bradenton real estate club meeting 8/31/07

2007-08-29T19:43:00.001-04:00

Don'tmiss thisweek's meeting of theBradenton Real Estate Club, Fridayat 11:45 a.m. (see details below)

ClaudeMcGavicof Home Check InspectionServices, is our speaker. Whenbuying real estate there are times when the investor wants a home inspectionthat accentuates the home's deficiencies. This would be helpful for example whennegotiating short sales with a bank. Also, this would help whennegotiating with a seller. Claude will speak to thisstrategy.

Follow this link to see all of our upcoming events:

http://www.bradentonrealestateclub.com/Events.htm

=========================
BRADENTON REAL ESTATE CLUB

WHEN: Every Friday
Arrive: 11:45 - 12:15 Networking, Order and enjoy lunch ($13.00 includes lunch, drink, and tip).
Meeting: 12:15 - 1:15 Discussion/Presentation

WHERE: Stoneybrook Clubhouse in Heritage Harbour, 7515 Grand Harbour Parkway, Bradenton, Florida 34212.
(I-75Exit 220, go one mile East on State Road 64 to entrance).

WHAT: This is a round-table luncheon and discussion of real estate topics and trends open to investors, landlords, owners, renters, buyers, and sellers. We help investors by focusing on Information, Motivation, Education, Training, and Networking.

INFO: For information call Dan Forbes at 941-746-0505 or visit our web site at http://www.BradentonRealEstateClub.com

I hope to see you there!

Blog Entry dated 8/29/2007 2:51 PM

2007-08-29T14:52:00.001-04:00

Sarasota market continues to be bright spot in Florida real estate

Sales of homes and condominiums compiled in the Sarasota MLS system, and sales within the Sarasota-Bradenton Metropolitan Service Area (MSA), are continuing to reflect strength compared to the overall state of Florida.

Statistics indicate the summer months have actually seen a strengthening of sales activity in the Sarasota real estate market, with overall sales in July 2007 up 7 percent from July 2006.

There were 369 single family home sales recorded in the Sarasota MLS in July 2007, compared to only 351 sales in July 2006 - a 5 percent increase, while the MSA showed a drop of 4 in single family home sales for the period. But even that figure stands out in stark contrast to other MSAs across the state. A total of 14 MSAs saw double-digit percentage declines in single family home sales, and statewide the real estate market saw a sales decline of 24 percent from July to July for single family homes.

Condominium sales were also up in the Sarasota MLS, with 159 sales in July 2007 compared to 141 sales in July 2006, for a 12 percent increase. Condos also saw a median price jump of 14.8 percent for the Sarasota MLS, from $269,990 in July 2006 up to $310,000 in July 2007.

The MSA fared better, with a 41 percent increase in condo sales, July to July. This was the third best performance in the state, and Sarasota-Bradenton was one of only six MSAs to show positive condo sales growth in July. Only two much smaller MSAs - Panama City (up 78 percent) and Fort Walton Beach (up 49 percent) - fared better than the local MSA. Statewide, condo sales were down 19 percent.

"When you look at the numbers, we are clearly seeing the Sarasota market taking the lead in the anticipated real estate market recovery in Florida," said Joe Hembree, 2007 SAR President. "Our Association has taken the lead in educating the public concerning the fundamentals of our market, and this has made a big difference. Local real estate agents have also done an excellent job of counseling sellers on the need to price their properties realistically."

With an eye toward the bigger picture, and discounting the historically abnormal years of 2003-2005, we have seen a return to the normal market experienced as recently as 2001 and 2002, Hembree noted.

In July 2001, there were 359 homes and 175 condos reported sold in the Sarasota MLS. In July 2002, there were 328 homes and 187 condos sold. The biggest difference this July is that the median price, even with recent declines, is still much higher than those recent years.

The median home in July 2001 sold for $176,000, and the median condo sale price was $132,000. The numbers went up a little in July 2002 - $190,000 for a single family home, and $179,900 for a condo. But the figures are much higher today - $299,000 for a home, and $310,000 for a condo - so the overall sales volume is far greater.

"The current market is in a normal adjustment period, which makes this an historic buyer's market," Hembree continued. "Our area has always offered tremendous amenities, abundant cultural assets, and great natural beauty and climate. Now, it's all more affordable than it was two years ago."

The lowest point in the recent local market was apparently reached in December 2006, when only 355 sales closed. Sales have escalated since then, and were much higher in July 2007, with 528 total sales - almost 50 percent higher than the sales low. The strong pending sales numbers - nearly 500 reported pending sales - continue to reflect a brighter future as the Sarasota area begins to enter the traditionally stronger fall and winter sales period.

Tame your investing Brain!

2007-08-28T13:12:00.001-04:00

The investing world is full of traps and our brains are wired to lead us into them.

Most investors think too much and end up making the wrong moves. Follow these 8 guidelines and make the right ones.

Avoid the "sure thing"

Your "seeking system" is especially turned on by the prospect of a big score, and that in turn will hinder your ability to calculate realistic odds for the success of an investment.

Be on your guard against any sales rep who tries to lure you with jackpot jargon like "can't miss," "double your money" or "the sky's the limit."

Remember: lightning seldom strikes twice

If you've ever had the taste of a big gain, you'll likely be tempted to try to get that feeling back. So be especially wary of investing in stocks or mutual funds that remind you of the one you made a killing on long ago; chances are, any similarities to another investment, living or dead, are purely coincidental.

Think twice

Making a financial decision while you're inflamed by the prospects of a big gain - or a huge paper loss - is a terrible idea.

Calm yourself down (if you don't have kids to distract you, take a walk around the block or go to the gym) and reconsider when the heat of the moment has passed.

Get away from the herd

If you are part of an investment organization, appoint an internal sniper whose job is to shoot down ideas everyone likes. (Rotate this role to prevent one person from becoming universally disliked.)

Similarly, if you're at a barbecue and your friends are talking up a seemingly great opportunity, speak to someone you respect who isn't part of the group before you jump in.

Lock up your "mad money"

Put at least 90% of your stock money into a low-cost, diversified index fund that owns everything in the market. Put 10%, tops, at risk on speculative trades. Be sure this "mad money" resides in a separate account from your long-term investments; never mingle them. Never add more money to the speculative account. (It's especially important to resist that temptation when your trades have been doing well.)

If you get wiped out, close out the account.

Control your cues

The stock market generates signals that can goad you into trading. Try watching CNBC with the sound off so that none of the hullabaloo about what the market is doing this second can distract you.

If you walk past the local brokerage firm every day so you can sneak a peek at the electronic ticker, take a different route. If you obsessively check a stock's price, use the "history" window on your browser to count how many times you've updated the price that day. The number may shock you.

Use your words

While vivid sights and sounds - say, red down arrows and scenes of mayhem on the exchange floor - fire up your emotions, the more complex cues of language activate analytical areas of your brain.

To prevent your feelings from overwhelming the facts and leading you to sell in a panic, ask yourself:

- Other than price, what's changed?

- Are my original reasons to invest still valid?

- Shouldn't I like this investment even more now that it's cheaper?

Track your feelings

Many of the world's best investors have learned to treat their own feelings as reverse indicators: Excitement becomes a cue that it's time to consider selling; fear tells them they should be thinking about buying.

I once asked renowned fund manager Brian Posner of Fidelity and Legg Mason how he sensed whether a stock would be a moneymaker. "If it makes me feel like I want to throw up," he answered, "I can be pretty sure it's a great investment."

Florida Land for Sale! only $18000

2007-08-27T13:57:00.001-04:00

Address: Lot3 Block 1141 Barry Street
City: North Port
State: FL
Zip: 34286
Country: USA
Price: $18,000

Lot Size: approximately 10000 sqft
Status: Active

Full Description: Wonderfull vacant lot in south Sarasota County. Easy access to Interstate and local shopping. Buy now and build later is OK. Clean and clear title ready to build! PID# 0958-11-4103

Blog Entry dated 8/23/2007 8:04 PM

2007-08-23T20:04:00.001-04:00

Bernanke vs. Greenspan - how would things be different now?

The Fed may well end up slashing interest rates, but the Greenspan era of pumping up market bubbles with repeated cuts is over...

It may be the most important development to emerge from the recent market turbulence: The Federal Reserve, under Chairman Ben Bernanke, is going back to being a central bank.

Judging by its cautious and finely-calibrated responses through a very ugly August, the Fed appears keen to put the Alan Greenspan years firmly in the past and take a much more orthodox approach to monetary policy. While the Fed will probably cut interest rates as early as next month, its behavior in August strongly suggests that Bernanke will avoid using interest rates to deliberately spark big increases in lending, the high risk strategy pursued by Greenspan from 2001 to 2004. (I think Greenspan would have cut rates already. So I do think things are beginning to look different at the Fed.)

A change at the Fed would have far-reaching consequences for the U.S. economy and the stock market. Initially, a much less accommodating Fed will be perceived as a reason for bearishness. But, over the longer term, market players may well see a less dysfunctional central bank as a good thing that could begin the process of cutting borrowing levels in the U.S., something that has to happen if the American economy is not going to seize up every time interest rates rise.

So what is the actual evidence that Bernanke, who helped formulate monetary policy under Greenspan, is not following the same approach as his predecessor? One huge change: Bernanke's actions have made it clear that he won't be panicked into cutting its key interest rate - the Federal funds target rate - when markets get mauled. True, Greenspan often said that a central bank should cut rates chiefly in response to weakness on Main Street, not Wall Street -- the same message that is coming out of the Fed at the moment. But from 1998 onward, Greenspan's actions were very much at odds with that position. In that year, the Fed slashed rates in response to market turbulence sparked by the collapse of a large hedge fund and devaluation of the Russian ruble.

Current market conditions are worse than in 1998 and this Fed has cut only the discount rate, a move designed to get healthy financial institutions trading with, and lending to, each other. Critically, Bernanke's Fed hasn't yet reduced the Fed funds rate, which does have a big impact on the economy. And it has not officially commented on what its next moves might be with that rate. And if it does lower the Federal funds rate next month, it's hard to see it rushing to further cuts, as happened in 1998. Why? Because there seems to be a recognition at the Fed that lending got out of hand in the past five years, and it's important now for markets to attach new, lower values to many loans and bonds. In a June speech, Bernanke commented on the shake-out in subprime mortgages in a conspicuously neutral way, suggesting the Fed was monitoring housing problems, but was not unduly concerned by adjustments taking place in it.

What seems so different under Bernanke is a genuine recognition that interest rate cuts could spark another bubble, and thus must be enacted carefully. This appears to have been a big factor in the Fed's decision-making last week. In a blow-by-blow account Monday of the Fed's internal discussions surrounding the cut in the discount rate, The Wall Street Journal wrote about this fear: "The [Fed] officials were looking for a maneuver dramatic enough to shore up confidence, while avoiding a cut in the Fed's main interest rate, the federal-funds rate. Mr. Bernanke was still not convinced the economy needed a cut, and some Fed officials feared it might encourage more of the sloppy lending that led to the crisis."

The stand-back strategy of Bernanke's Fed was in many ways vindicated by reports Wednesday night that Bank of America is making a $2 billion investment in Countrywide, the large mortgage company that is suffering a liquidity squeeze. It shows that stronger firms are capable of becoming part of the market adjustment by making investments in weaker companies during this crisis. This happened without a cut in the Fed funds rate.

But if credit markets are in seizure, where might the next bubble be? Once markets settle down, a big drop in the Fed funds rate could, for example, spark a lending splurge by credit card and auto-finance companies, which currently have healthier balance sheets than mortgage lenders.

To be sure, more evidence is needed to make an open-and-shut case that the Fed has changed its spots. If weakness start to show up in the real economy, the Fed could revert to the laxity of the Greenspan years in a flash. Bernanke is no Paul Volcker, whose anti-inflation bias led him to hike rates to recession-causing levels in the 1980s. However, Northern Trust's Kasriel does think the Fed would tolerate some economic sluggishness if it brings some stability back into the economy. "I don't think the Fed would welcome a recession, but I think it would be okay with some below potential growth," he says.

After nearly 20 years at the helm of the Fed, Greenspan left the U.S. economy more vulnerable to credit shocks than it has ever been. It will take Bernanke 20 years to undo that mess. And there's a good chance the clean up began last week.

And for your reading pleasure.. Here is the latest on the Liquidity Crisis

2007-08-20T07:43:00.001-04:00

mortgage

Fellow Real Estate Professionals,
FYI.. And for your reading pleasure.. Here is the latest on the Liquidity Crisis that the Mortgage Industry is now facing, which is obviously effecting us all. Please take the time to read, and feel free to call me with any questions.. Enjoy!

Current State of Mortgage Financing...What's Going On?
Anyone watching or reading the financial news over the last few weeks has seen a lot of angst and consternation over the state of the mortgage industry. In fact, one of the larger lenders in the US, American Home Mortgage, was forced to shut down operations recently. But why? What is happening, what does all this mean to you and most importantly... what should you be doing do right now to make sure you are protected?

Here's the scoop.
Over the past several years, many loans were made to homeowners with somewhat non-traditional or "non-conforming" situations, be it a poor credit history, inability to document income, or any number of factors that do not fit within the traditional "box" for home loans. These loans are often called "Sub-Prime", or "Alt-A", meaning that they were somewhat riskier in nature than A credit, prime, or traditional loans. Another type of "non-conforming" home loan is one where the credit and income might be perfectly fine, but the loan amount is higher than $417K, which is the current maximum loan that can be done using pools of money from mortgage giants Fannie Mae (FNMA) and Freddie Mac (FHLMC). If the loan amount is higher, it can certainly be done - it's called a "jumbo loan" - but the end money comes from private institutions, not from the large government sponsored entities of Fannie and Freddie.

Most non-conforming loan product rates popped significantly higher recently. Here's what happened.
The end investor for Subprime or Alt-A loans will charge a premium for taking on a pool of these loans, because they know that traditionally, they might have a higher rate of default and delinquent payments within that risky pool. But lately, default and foreclosure has been on the rise - partly due to the fact that with credit tightening and a soft real estate market, many troubled homeowners are unable to refinance or sell in order to get out of trouble. So now, these end institutions are demanding a much higher "risk premium" for taking on these pools of loans, as they see the rates of default are climbing higher.

But since these institutions are purchasing these pools of loans sometimes months after the borrower has actually closed at a given rate, this increase to the risk premium means that instead of paying $101K for a $100K loan that will bear interest, they may only be willing to pay $95K for that $100K mortgage to account for the risk. Multiply that times thousands upon thousands of loans...and you have millions upon millions of dollars in loss for the company trying to sell the pool at a much lower price than they were expecting. This is called a "liquidity crisis", and is exactly what happened to American Home Mortgage - there was no mismanagement, but they simply got caught holding too many "hot potato" loans, forced to sell them at massive losses...and eventually they had to make the decision to close the doors and stop the bleeding.

Further, even when a lender is able to take some losses, they may be subject to a "margin call". This means that as their losses and risk premiums increase, the value of their loan portfolio decreases. As the value decreases, the credit lines that are secured by those portfolios begin to issue margin calls as the value of the asset that they are secured on is now diminished. This is exactly like margin calls in the Stock market. If you have a loan against a Stock that is losing value, you will get a "margin call" and need to pay down the loan, as the underlying Stock is losing too much value to be considered adequate collateral any longer. So for the big lenders, as their portfolio is losing value due to increased risk premiums and losses...the margin calls start coming in, and they are required to pay down their balances. In turn, this means that they have less availability to fund their new loans, which then exacerbates the problem.

In response to seeing this situation play out in the demise of American Home Mortgage, lenders of other non-conforming loan products increased their interest rates dramatically almost overnight to be better prepared - and likely over-prepared - for increased risk premiums down the road. Even though loans above $417K are not presently suffering from increased delinquencies like the Subprime and Alt-A loans are, these rates popped higher as well, because they are being purchased by smaller private entities that can't afford to take on any margin of risk.

What happens next? The major damage is probably already done, and the present situation will likely settle out over the coming year. Lenders will stop pulling products off the shelf, and the rates on products that have moved so significantly higher now should trend lower down the road as delinquency rates stabilize.

But here are a few important things YOU should do right now:
ONE: Even if you are not presently in the market for a home loan of any type, make sure that your credit standing is as solid as possible. Many people in the market for a home loan didn't expect they would have a need, and didn't plan in advance to ensure their credit would qualify them for the best possible financing. With no immediate need for a home loan, time is on your side... why don't we take a few minutes together and just make sure you are prepared, should a need arise down the road? Call or email me right away.

TWO: If you are in the market for a home loan, or know someone who is - understand that now is the time to be working with a real qualified professional who can keep you informed of changes in the market and get your loan funded quickly. Now is NOT the time to be playing the risky game of trying to scour the entire nation to find someone who promises to save you a paltry amount on costs, or deliver a rate that seems too good to be true.

Your home and your financing are just too important, and times have changed. I am here to help and advise during these volatile times - and would welcome calls from you, your friends, family, neighbors or coworkers.

Respectfully,

Lee Forbes

The silver lining to the decline

2007-08-17T14:08:00.001-04:00

stock,market

Hello All,

Following is a quote from Ben Stein, who I believe to be a very clear thinker. I hope it provides as much clarity for you as it did for me.

Enjoy your weekend! -- Lee

The subprime meltdown and its effect on the credit market is taking its toll on the equity markets around the globe. So much so that the world's central banks have injected several hundred billion dollars into the financial system over the past two weeks to help calm the markets. That injection of liquidity had a temporary calming effect, but the markets have plunged further this week. The rout has now caused the S&P 500 to suffer its first 10% correction since the bull market began in 2003. The fear is that the credit crunch could end up causing a recession given that lending has all but ceased, especially in the mortgage business. We don't expect this to end in a recession, but there is a possibility if the consumer retrenches. There was a good article in The New York Times this past Sunday by Ben Stein putting the subprime mess into perspective. He said "The total mortgage market in the United States is roughly $10.4 trillion. Of that, a little over 13 percent, or about $1.35 trillion, is subprime-certainly a large sum. Of this, nearly 14 percent is delinquent, meaning late in payment or in foreclosure. Of this amount, about 5 percent is actually in foreclosure, or about $67 billion. Of this amount, according to my friends in real estate, at least about half will be recovered in foreclosure. So now we are down to losses of about $33 billion to $34 billion. The rate of loss in subprime mortgages keeps climbing. In time, perhaps it will double, maybe back to $67 billion. This is a large sum by absolute standards, and I would sure like to have it in my bank account. But by the metrics of a large economy, it is nothing. The total wealth of the United States is about $70 trillion. The value of stocks listed in the United States is very roughly $15 trillion to $20 trillion. The bond market is even larger. Much more to the point, the fears and terrors about subprime mortgages have helped knock off 6.7 percent of the stock market's value in recent weeks. This amounts to about $1.1 trillion, or more than 30 times the losses so far in the subprime market. In other words, these subprime losses are wildly out of all proportion to the likely damage to the economy from subprime problems."

The silver lining to the decline is that the market was in need of a correction, and as noted above this marks the first 10% correction since the bull market began. While the root cause of the decline is from extraordinary events, corrections are a healthy part of bull markets, and so far this seems like one of those healthy correction. In the short-term anything can happen given the emotional nature of trading driven by news related events and the extreme daily volatility we have seen lately. In fact, we saw extreme volatility yesterday with the Dow Jones Industrial Average down over 300 points intraday before rallying all the way back to close nearly flat. Several of the other major indices, including the S&P 500 and Russell 2000, closed the day in positive territory, marking what many technicians call a reversal day.

On an intermediate-term basis we are seeing the type of extreme technical readings, panic, and capitulation that are normally only seen at or near bottoms. To begin with, the market is at an historic oversold condition. For example, more than 1000 issues hit new 52-week lows yesterday on the NYSE. According to the SentimenTrader.com, only three times in the past 20 years have we seen that kind of give-up: 10/19/87, 8/23/90 and 8/31/98. All of them marked important inflection points in market history, though there was some testing of those panic readings in the weeks that followed. The returns going out three months or more were exceptional in every case. In addition, according to Dorsey Wright their NYSE high-low index is in a very bullish position. The index is constructed by dividing the number of new 52-week highs by the number of new 52-week highs plus the number of new 52-week lows smoothing it with a 10-day simple moving average. When the NYSE high-low index is below 10% and declining, as it is now, the probability is for the market, as measured by the S&P 100, to be significantly higher over a 3-month time frame. This condition is quite rare, with the market having only been in this configuration 34 days since December 1996. Statistics show an average 3-month return of +10.89% with 97.06% of the instances showing a positive return. (The worst 3-month return was -0.18% and the best return was +22.57%). When the NYSE high-low index is between 10% and 20% and rising, which is where it will be if there is a reversal from the current level, probabilities are even more powerful for a 3-month rise. That condition is extremely rare, having occurred only on 15 days since December 1996. Statistics show an average 3-month return of +17.46% with a 100% of the instances netting a positive return. (The worst 3-month return was +5.19% and the best return was +34.80%).

country wide is living off it's equity line too!

2007-08-17T09:29:00.001-04:00

Lee Forbes,mortgage

I know during lean times like now others in our business have drained thier savings and even tapped into the equity of our own homes just to stay afloat. Now it seems that the mortgage companies have been in the same boat with us bailing out the water with our shoes as buckets.

Mortgage lender Countrywide Financial (Charts, Fortune 500), for example, announced Thursday that it needed to tap an $11.5 billion line of credit because of liquidity problems. That came a day after an analyst at Merrill Lynch suggested that Countrywide might need to declare bankruptcy.

In a statement, the Fed said that it took the move to "promote the restoration of orderly conditions in financial markets."

In another statement, the central bank indicated that "financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward."

The Fed added that "although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably" and that the Fed was prepared to take more action if necessary.

Stock futures, which were initially trading lower Friday following another wild day Thursday, surged higher following the Fed's announcement.

Lee Forbes

GulfsideLand.com

Where is Bradenton?

2007-08-16T10:19:00.001-04:00

Beautiful Bradenton and Manatee County Florida

The jewel of southwest Florida's gulf coast, Manatee County lies along the Gulf of Mexico between Sarasota and Tampa. Here, residents enjoy an incomparable quality of life defined by 150 miles of shoreline along the Gulf, Sarasota and Tampa Bays, and the Manatee River.

Manatee County has six major population centers. The two largest incorporated communities, Bradenton and Palmetto, are on the mainland. The next largest encompasses the island of Longboat Key. Anna Maria Island at the entrance to Tampa Bay is the site of the other three communities: Anna Maria at the northern tip, Holmes Beach near the center, and Bradenton Beach to the south. (read more)

Visit: GulfsideLand.com for property in SW Florida! LeeForbes.com

Bradenton is Leading the Nation Again

2007-08-16T10:15:00.001-04:00

Highest-Depreciating and Most-apreciating Areas across the Nation

The value of midsize and large homes declined more in the last year than the value of small single-family residences, according to a second-quarter analysis by real estate Web site Zillow.com.

The value of single-family homes smaller than 1,200 square feet fell by just 1 percent, according to Zillow's report. Meanwhile, values of midsize homes between 1,200 and 1,900 square feet fell an average of 3.1 percent, and homes larger than 1,900 square feet declined 2.8 percent.

Zillow.com also offers a comparison of 66 metropolitan statistical areas on Zillow.com.These findings are culled from that analysis:

The highest-appreciating metropolitan areas (year-over-year):

· Grand Junction, Colo. (18.6 percent)

· Corvallis, Ore. (11.2 percent)

· Charlotte-Gastonia-Rock Hill, NC-SC (9.0 percent)

· Eugene-Springfield, Ore. (6.9 percent)

· Spokane, Wash. (6.1 percent)

· Seattle-Tacoma-Bremerton, Wash. (5.3 percent)

Most-depreciating metropolitan areas (year-over-year):

· Sarasota-Bradenton, Fla. (-16.4 percent)

· Melbourne-Titusville-Palm Bay, Fla. (-14.3 percent)

· Stockton-Lodi, Calif. (-13.5 percent)

· Charleston-North Charleston, SC (-12.8 percent)

· Daytona Beach, Fla. (-12.5 percent)

· Modesto, Calif. (-12.4 percent)

Most expensive metropolitan areas:

· San Francisco-Oakland-San Jose, Calif. ($685,653)

· Honolulu, Hawaii ($632,270)

· San Luis Obispo-Atascadero-Paso Robles, Calif. ($537,722)

· Los Angeles-Riverside-Orange County, Calif. ($525,175)

· San Diego, Calif. ($505,334)

· New York-Northern New Jersey-Long Island ($445,435)

Least expensive metropolitan areas:

· Jackson, Tenn. ($91,563)

· Greenville-Spartanburg-Anderson, SC ($101,178)

· Tulsa, Okla. ($102,876)

· Dayton-Springfield, Ohio ($108,121)

· Rockford, Ill. ($116,475)

· Columbia, SC ($116,865)

Source: Zillow

Visit: GulfsideLand.com for property in SW Florida!

Bradenton Investor Club meeting

2007-08-16T10:01:00.001-04:00

investing,real estate,club,Bradenton

Bradenton Real Estate Club Meeting - Fri. Aug. 17th

Don't miss this week's meeting of the Bradenton Real Estate Club, Friday at 11:45 a.m. (see details below)

The Manatee County, Florida Property Appraiser, Charlie Hackney, is our guest. You have probably already received your TRIM notice. Did your property tax assessment go up, even in this down market? Let's hear Charlie's explanation. Follow this link to see all of our upcoming events: http://www.bradentonrealestateclub.com/Events.htm

I hope to see you there!

Lee

Lee Forbes (e-PRO,ABR,GRI)
PREMIER TEAM Inc.
REALTORS
3850 E. State Road 64
Bradenton, FL 34208
Office: (941) 746-0505
Fax: (941)749-0383
Toll Free 1-877-646-8326
http://www.LeeForbes.com
and
http://www.BradentonRealEstateClub.com

===========================

Searching for stability

2007-08-16T09:41:00.001-04:00

Mortgage,housing,home,real estate

Freddie Mac said refinancing borrowers are choosing fixed-rate loans, not adjustable-rate ones.

Looks as if there will be a little more fall out among the credit lenders as Loan options dry up across the nation.

-Lee Forbes LeeForbes.com

"NEW YORK (CNNMoney.com) -- Freddie Mac, the government sponsored enterprise created to add liquidity to home-mortgage markets, reported Monday that borrowers with adjustable rate mortgages (ARMs) are overwhelmingly choosing to switch to fixed-rate loans when they refinance.

During the three months ended June 30, 85 percent of these borrowers with one-year ARMs switched to fixeds. Hybrid ARMs borrowers who refinanced were similarly inclined; 86 percent opted for fixed rates.

ARMs helped fuel a mortgage meltdown the past few months, with many more borrowers unable to make mortgage payment as their interest rates soared after resetting and housing prices slumped.

One-year ARMs usually carry low initial rates the first year and adjust annually after that. The reset is limited to 2 percentage points or so and the lifetime cap - the maximum it can increase above the initial rate - of about five or six points.

Hybrid ARMs, often called "exploding or toxic ARMs," carry sometimes extremely low ("teaser") rates for the first two (2/28 ARMs) or three (3/27 ARMs) years and adjust every six months after that.

They also come with limits on how much they can reset (often 3 percentage points for the initial reset and 1 percentage point after that) and they have lifetime caps (perhaps 11 percent).

Mortgage resets: Record bill due.

One reason refinancing ARM borrowers chose fixed rates in higher numbers recently was because the interest-rate spread between an ARM and a fixed has become fairly narrow over the past couple of years.

According to Amy Crews Cutts, deputy chief economist for Freddie Mac, who was quoted in a press release, mortgage rates on 30-year fixed-rate loans averaged about 6.4 percent during the three months, while rates on 1-year Treasury-indexed ARMs were 5.5 percent.

That meant that although a borrower of a $200,000 loan would pay about $115 a month less with an ARM for the first year, the ARM could potentially cost $147 more than the fixed the second year, and rise higher every year until it hit the lifetime cap. Many borrowers prefer the certainty of knowing that their future payments will never be any higher than they are when they got the loan.

Fixed rates have gotten a little more expensive compared with the first three months of the year when even more borrowers -- 89 percent of one-year ARMs and 88 percent of hybrid ARMs -- chose fixed rates when they refinanced.

"The widening spread between fixed- and adjustable-rate mortgages in the second quarter made ARMs a bit more attractive than they had been," said Cutts.

Even though the interest rates on ARMs will almost always eventually surpass those of fixed rates, the ARM can still be attractive to borrowers. For people barely squeezing by, an ARM can be the difference between unaffordable and affordable.

Too, some buyers or refinancing owners have very short time horizons. People who aren't planning to stay more than two or three years in the home may wind up paying out less money with an ARM than with a fixed by the time they sell.

And borrowers who expect to have a lot more income in the future - perhaps one partner will enter the work force, for example - may want an ARM to make the present demands on income easier to handle."

By Les Christie, CNNMoney.com staff writer
August 13 2007: 2:49 PM EDT

Rent $800 per month

2007-08-07T13:57:00.001-04:00

4802 W 51st St #911 Bradenton, FL 34210
County: Manatee

Prop Type Condominium Prop Subtype(s) Condominium
Area SW of Cortez & 34th Subdiv/Condo The Palms of Cortez

Beds 2 Approx Square Feet 1134
Baths(FH) 1 (1 0)

Year Built 2002
Prop ID 5165819259

See Virtual Tour

--------------------------------------------------------------------------------

Directions Cortez Road west to 51st Street then South. Entrance on right and gate ahead. Unit 911

Marketing Remark Light & Bright gated west side community. Top floor for privacy, 9 foot ceilings, 2 bedrooms, 1 bath, kitchen with oak cabinets and breakfast bar, combination living/dining area, open balcony. The Palms amenities include Clubhouse with 24 hour exercise room, community pool, lighted tennis courts,laundry, playground area and BBQ Pavilion. New in 2002. Move-In Ready!

Design of Building: Mid-Rise

Unit Level: 3rd

Pets: Yes

Num. of Pets Allowed: 2

Pet Size: Medium

Equipment/Appliances

Range, Refrigerator, Dishwasher, Garbage Disposal, Smoke Detector, Microwave

Interior Design

Breakfast Bar, Open Plan, Utility in Living Ar, Window Coverings

Exterior Features

Common Laundry, Open Porch/Balcony

Security Features

Card Entry, Complex Secured, Enter Phone Entry

Special Information

Condo Disclosures Av, Condo Docs Available, Seller Prp Discl Av

Amenities

BBQ/Picnic, Child Play Area, Clubhouse, Exercise, Tennis/Hard Surface, Pool

Restrictions

No Ext Alterations, Minimum Lease 6 Months

Application Fee, Tenant Approval

Management Co. Name

Castle Property Management

Management Co. Phone

(941) 795-7470

Room Dimensions

Living Room

20x15

Main Bedroom

15x12

Fee Includes

Public Insurance, Recreational Facil, Common Ground, Reserve, Fidelity Bond, Roof, Landscape/Lawn

Buyer Approval Fee: $100

Possession: Immediate

Listing # 532758

Presented By:

Lee D Forbes
Premier Team, Inc.
Results@LeeForbes.com
3850 E State Rd 64
Bradenton, FL 34208
941-746-0505

Web Page: www.LeeForbes.com

Reduced $45,000

2007-08-07T13:49:00.001-04:00

Home for sale

Listing Price: $315,000

Virtual tour

9007 E 61st Avenue Dr Bradenton, FL 34202
County: Manatee
Area E of I-75, S of SR70 Subdiv/Condo Braden Woods

Beds 3 Approx Square Feet 1897 Tax Roll
Baths(FH) 2 (2 0) Price/Sq Ft 189.72
Cov Park Space 2 Pool Yes
Year Built 1990 Lot Sq Ft (approx) 36329, 3/4 acre
Prop ID 1901537553 Lot Acres (approx) 0.834

Directions From S.R. 70 turn south onto Braden Run, then right on Forrester Drive, right on Pine Tree Drive and left onto Pine Needle Circle (61st Ave E.)
Marketing Remark A true showcase of the Braden Woods Lifestyle! Over 3/4th acre lot that extends into a beautiful lake. Enjoy views of the tranquil water from your caged private pool & lanai. Home features cathedral ceilings, three bedrooms, two baths & a two car garage. The living & separate family room allows you space to spread out & enjoy this fantastic home. Kitchen w/breakfast bar, pantry & wood cabinets.

--------------------------------------------------------------------------------

Lot Description Greenbelt, Cul-de-sac Zoning RSF1/WPE/
Representation Trans Broker
General Information
Type of Dwelling Contemporary Main Living Area Ground Level
Bedroom Description Main Bdrm Grnd Level, Split Plan Owners Bath Desc Dual Sink, Separate Tub/Shower
Pool Dimensions 25x13 Pool Description Inground, Caged, Concrete, Equipment Included
Covered Parking Attached Garage Other Parking Drive Space
Waterfront Yes Waterfront Descrip. Lake/Lagoon, Freshwater
Water View Lake, Water Rear Exposure South
Addl Features & Utilities
Num. of Ceiling Fans 7 Roof Material Asphlt/Fbrglss Shngl
Construction Cncrt Blk, Cncrt Blk/Stco/SpryC Window Descrip. Single Hung
Flooring Carpet, Ceramic Equipment/Appliances Auto Garg Door Opnr, Range, Refrigerator, Dishwasher, Dryer, Garbage Disposal, Washer, Microwave
Interior Design Breakfast Bar, Cathedral/Vaulted Cl, Open Plan, Pantry, Separate Dining Room, Utility in Livg Area, Walk-In Closets, Foyer Entry, Window Coverings, Wood Cabinets Exterior Features Sliding Glass Door, Private Setting
Other Areas Family Room Subdivision Info. HOA Mandatory, Subdiv. Restrictions
Special Information Seller Prp Discl Av, HOA Disclosure Avail Cooling Central Electric
Heating Central Electric Sewer Type Septic System
Water Supply Central Water
Room Dimensions
Living Room 13x13 Dining Room 11x10
Kitchen 11x10 Family Room 16x14
Main Bedroom 16x13 2nd Bedroom 14x11
3rd Bedroom 14x11 Utility Room 9x6
Screen Porch/Lanai 30x10
Financial Information
Maint/Assoc Fee #1 200.00 Assoc Frequency #1 Annually
HOA Fee Includes Common Ground Gross Prop Taxes 2554
Possession 30 Day, Negotiable, 30-60 Days Terms Available Conventional
Agent/Office Information
Showing Call Office, Lockbox-Call First, Lockbox-Electric

Presented By: Lee D Forbes Premier Team, Inc.

Primary: 941-727-2741
Secondary: 941-746-0505
Other: 941-725-4258

E-mail: Results@LeeForbes.com
3850 E State Rd 64
Bradenton, FL 34208
941-746-0505
Fax : 941-749-0383

July 2007 Web Page: www.LeeForbes.com

All information, regardless of source, including square footages, lot sizes, total taxes and other tax information is deemed reliable but is not guaranteed and should be verified by personal inspection by and/or with the appropriate professional(s)

MLS # 560658

Virtual tour

Search all property in Manatee county on Bradenton's MLS

2007-08-06T09:55:00.001-04:00

Search the Manatee county MLS (multiple listing service) for FREE here!

Helping you with your unique buying need is something I take professionally serious. I realize that you are currently in the information gathering stage, and may not be ready to "open up" about who you are, or what your needs are at this time. Be assured this is perfectly okay, and that I completely respect your online privacy. Also, keep in mind that our ability to help you is dependent upon understanding your particular needs and wants with respect to finding a home. So when you are ready to explore your real estate needs further, I will be happy to assist you. People often make their home purchase decisions based on "WHO" they will work with, as well as "WHAT" they have to offer. I would like the opportunity to share who Premier Team is and what we can offer you, should you decide to move to the area.

Our team works hard for our clients to provide the very best service. You'll find that we are accessible, knowledgeable, experienced, and able to make the home buying process fun and hassle free. Together, Premier Team sells over 100 homes each year and has become a community leader in business and involvement. We are a proud winner of the Manatee county small business of the year award! If you would like to read more about us please visit About Us on our website.

For more local information you can go directly to our Area Info pages.

If you would like to search only active listings your self, please use this link to search.

Then, please contact me directly for any further information. I look forward to hearing from you and to working with you in the near future.

Thank you kindly,

Lee Forbes GRI, ABR
Premier Team Inc., REALTOR©
3850 SR. 64 East
Bradenton, FL 34208
Lee@LeeForbes.com
Direct: 941-725-4258
Toll free 877-646-8326

"We Make Real Estate Easy"
Visit my website LeeForbes.com

for FREE info:

·       Mortgage Calculator
·       FREE Online Newsletter
·       Articles & Advice for Homebuyers & Homesellers
·       FREE "What's My Home Worth?" report
·       Search the Manatee County Multiple Listing Service

Awarded Top 10% in the nation for consumer satisfaction by the Internet Consumer Group!

Bose Aviation X for sale

2007-07-31T23:42:00.001-04:00

Brand New never ever used, ever... No greasy finger prints or sweaty old ear pads here!!

For Sale on Ebay

Included are the user manual, registration card, direction tag attached to it, and enclosed in the original plastic. I have not even removed the original twist ties on it. This is the dual plug GA configuration. Fully functional with bose warranty. No scatches, dings, etc.These are BRAND NEW. This is the self-powered model with the latest AA battery lump in the cable. duouble plug for standard aviation intercom connection.

** AVOID the old sinlge plug auctions** unless you have a special in console power connection for your headset. Purchased direct from BOSE April 2007 but local flight school closed till next year or later. Check out my feed back... you know you will be happy with your purchase. Tested by me once. Below is product info from Bose but you know all about it if you are here already...

Bose technology makes the difference Most active noise reduction headsets require large earcups and considerable headband force to muffle aircraft noise.

Enjoy full-spectrum noise reduction, comfortable fit and clearer reception when you fly with the Bose Aviation Headset X. Thanks to proprietary TriPort headset technology, this unique combination of benefits is available in one lightweight headset. The redesigned control module and greater usability make it the #1 headset choice of many pilots and military personnel even better.

Through 25 years of research, Bose� has developed a better solution�TriPort� headset technology. This patented innovation enables a smaller, more comfortable headset that delivers full-spectrum noise reduction.

Acoustic Noise Cancelling� headset technology contributes to this high level of noise reduction. It monitors sound at the ear, identifies unwanted noise and creates an out-of-phase signal to reduce it. Their active equalization circuitry also delivers clean, full sound that improves the intelligibility of radio and intercom audio. In fact, U.S. Air Force tests with Bose headsets achieved intelligibility scores of 95% at 115db compared to 80% for conventional headsets.

At Bose, a comfortable fit is mission critical
Whether you�re a general aviator or helicopter pilot, comfort counts. That�s why Bose� designed the Headset X with 50% less clamping force than most active noise reduction headsets. The solid magnesium headband is extremely lightweight yet durable. The sheepskin cushion eliminates hot spots, and soft, padded ear cushions provide an effective seal�even over glasses. The result is superior noise reduction in a comfortable headset that weighs only 12 ounces.

Longer, smarter battery life
Proprietary AdaptiSense� headset technology allows at least 40 hours use from just 2 AA batteries. It supplies power as needed, detects when you�ve stopped wearing the headset and automatically shuts off the active electronics. Plus, the new tri-color indicator provides real-time battery status.
Focus on your flight, not your headset controls
The redesigned control module is 30% smaller than the previous version and even easier to use. Its slim design puts all functions�including dual thumbwheel volume controls�within easy reach. The improved boom microphone design enables smoother, more precise adjustments.

Experience the full-spectrum noise reduction, comfort and clearer communication of Aviation Headset X. Choose the configuration that best fits your flight needs: an installed version or one of two portable options.

TriPort� Headset Acoustic Structure Proprietary Bose technology utilizes three small ports in the earcups to produce a rich audio performance that's remarkable for headphones this small. Enjoy clearer sound from a headset that stays comfortable on long flights.

Acoustic Noise Cancelling� Headset Circuitry Only from Bose, this patented technology electronically identifies and reduces unwanted noise, allowing improved intelligibility of radio and intercom audio. The continuous roar of flying is reduced, so your concentration is improved.

AdaptiSense� Headset Circuitry Sophisticated electronics monitor current demand and instantaneously adjust the voltage to maintain maximum performance. Smart shutoff detects when you've stopped using the headset for even greater battery life

FEATURES:
Active Equalization Electronically tunes the frequency response, enabling outstanding audio performance for improved speech intelligibility.		5-year Transferable Limited Warranty

Magnesium Alloy Headband Provides exceptionally strong, durable frame that�s remarkably lightweight and comfortable.		Carry Bag Headset Provides an easy way to bring your headset wherever you go.

Center Torsion Spring Enjoy a consistent, comfortable fit for any size head with half the clamping force of conventional active headsets.		Portable Control Module AdaptiSense� headset technology You get only the power you need at any given time, at least up to 40 hours on 2 AA batteries.

Adjustable Headband Sliders Sheepskin headband cushion Plush, soft headband cushion eliminates hot spots and provides comfortable, even distribution of the headset weight.		Smart Shutoff Guards against battery drain by detecting when you have stopped using the headset and shuts off automatically.

Earcup Rotation Earcups rotate 10 degrees vertically and horizontally to maintains uniform pressure around the ears for superb noise reduction performance and comfort.		Boom Microphone Enables smoother, more precise adjustment so you can put the microphone right where you want it-and keep it there.

Boom Microphone Enables smoother, more precise adjustment so you can put the microphone right where you want it�and keep it there.		Battery Life Status Indicator Take the guesswork out of battery replacement with a convenient LED that reflects three stages of status indications for remaining battery power.

Florida forclosure is not so bad

2007-07-30T09:20:00.001-04:00

The Forclosure process in Florida is more lacking than in other states. Many states can have you out in the cold before you know it with the shirt off your back!

In Alabama, late-paying homeowners can lose their properties to foreclosure at breathtaking speed - as little as 30 days after a delinquency notice is published.

In New York State, the process can drag on for well more than a year.

With foreclosures spiking around the nation, homeowners should learn the foreclosure laws in their states - what you don't know can hurt you.

"The foreclosure laws tend to be very parochial," said Lawrence Jacobson, a real estate attorney in Los Angeles.

One major divide is whether the principal instrument securing the loan is a conventional mortgage or a "deed of trust." They are not the same even though everybody uses the term "mortgage" interchangeably.

In fact, deeds of trust are the more common of the two, used in 34 states either mostly or exclusively.

The difference is this: Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.

That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don't have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.

In states where deeds of trust are an option, lenders almost always choose them over mortgages, because they are "non-judicial" - and quick.

California, where foreclosure might come as soon as 120 days following the delinquency notice, is one of them. Said Jacobson: "I've been a real estate attorney nearly 40 years and I have yet to see a mortgage in California."

Visit www.leeforbes.com

West Bradenton condo

2007-07-24T14:25:00.001-04:00

Price: $179,900

4802 W 51st St #911 Bradenton, FL 34210 Listing
County: Manatee

Prop Type Condominium Prop Subtype(s) Condominium
Area SW of Cortez & 34th Subdiv/Condo The Palms of Cortez

Beds 2 Approx Square Feet 1134 Unknown
Baths(FH) 1 (1 0) Price/Sq Ft 158.64

Year Built 2002
Prop ID 5165819259

See Virtual Tour

--------------------------------------------------------------------------------

Directions Cortez Road west to 51st Street then South. Entrance on right and gate ahead. Unit 911

Marketing Remark Light & Bright gated west side community. Top floor for privacy, 9 foot ceilings, 2 bedrooms, 1 bath, kitchen with oak cabinets and breakfast bar, combination living/dining area, open balcony. The Palms amenities include Clubhouse with 24 hour exercise room, community pool, lighted tennis courts,laundry, playground area and BBQ Pavilion. New in 2002. Move-In Ready!

Range Price

Zoning

PDP

Representation

Trans Broker

General Information

Design of Building

Mid-Rise

Unit Level

3rd

Efficiency

End Unit

Owners Bath Desc

Combined Tub/Shower

Covered Parking

None

Other Parking

Open Space

Waterfront

View Exposure

West

Furnishings

Unfurnished

Pets

Yes

Num. of Pets Allowed

Pet Size

Medium

Addl Features & Utilities

Construction

Cncrt Blk, Cncrt Blk/Stco/SpryC

Window Descrip.

Single Hung

Flooring

Carpet, Vinyl

Equipment/Appliances

Range, Refrigerator, Dishwasher, Garbage Disposal, Smoke Detector, Microwave

Interior Design

Breakfast Bar, Open Plan, Utility in Living Ar, Window Coverings

Exterior Features

Common Laundry, Open Porch/Balcony

Security Features

Card Entry, Complex Secured, Enter Phone Entry

Special Information

Condo Disclosures Av, Condo Docs Available, Seller Prp Discl Av

Amenities

BBQ/Picnic, Child Play Area, Clubhouse, Exercise, Tennis/Hard Surface, Pool

Restrictions

No Ext Alterations

Minimum Lease

6 Months

Approval

Application Fee, Tenant Approval

Management Co. Name

Castle Property Management

Management Co. Phone

(941) 795-7470

Management

Condo Association

Energy

Central Heat/Cool

Room Dimensions

Living Room

20x15

Main Bedroom

15x12

Financial Information

Maint/Assoc Fee #1

134.00

Assoc Frequency #1

Monthly

Fee Includes

Public Insurance, Recreational Facil, Common Ground, Reserve, Fidelity Bond, Roof, Landscape/Lawn

Buyer Approval Fee

100

Gross Prop Taxes

2323

Possession

Immediate

Terms Available

Conventional

Office Information

Listing # 532758

Presented By:

Lee D Forbes

Premier Team, Inc.

Primary:	941-727-2741
Secondary:	941-746-0505
Other:	941-725-4258

E-mail:	Results@LeeForbes.com

3850 E State Rd 64

Bradenton, FL 34208

941-746-0505

Fax : 941-749-0383

July 2007

Web Page: www.LeeForbes.com

Braden Woods home for sale

2007-07-24T14:13:00.001-04:00

Home for sale

Listing Price: $359,900

Virtual tour

MLS # 557647

Virtual tour

It keeps going and going...

2007-07-13T10:00:00.001-04:00

Even Cnn.com has to update their articles daily to keep up with the housing market slide.

Lee Forbes
LeeForbes.com

Housing slump gets longer, and longer ...

Realtors' latest forecast pushes back price recovery to 2nd quarter 2008; sales forecasts falls further.

By Chris Isidore, CNNMoney.com senior writer July 11 2007: 11:34 AM EDT

NEW YORK (CNNMoney.com) -- The slump in home sales and prices will be deeper and last longer than previously expected, according to the latest forecast Wednesday by the National Association of Realtors.

The trade group is now looking for flat prices for existing homes in the first quarter of 2008 compared to the first quarter of 2007, and a more year-over-year declines for new home.

The group's previous monthly forecast had projected that both new and existing home prices would start to rebound to show a year-over-year rise in the first quarter of 2008.

Both new and existing home prices are now expected to show a less than 1 percent gain in the second quarter of next year, according to the latest forecasts. Those increases are less than previously forecast

Housing still hurting.

2007-07-11T11:05:00.001-04:00

Here is an article from Cnn.com advising about the continued decline in the realestate market. Locally, we are leading the state in sales volume but that is only in comparison to our terrible 2006 season.

Forecast: Housing slump not going away soon

Realtors' latest forecast pushes back a recovery in home prices to second quarter of 2008 as current price, sales forecasts fall further.

By Chris Isidore, CNNMoney.com senior writer July 11 2007: 10:52 AM EDT NEW YORK (CNNMoney.com)

-- The slump in home sales and prices will be deeper and last longer than previously expected, according to the latest forecast Wednesday by the National Association of Realtors.

The trade group is now looking for flat prices for existing homes in the first quarter of 2008 compared to the first quarter of 2008, and a continued year-over-year decline in new home prices in that period.

The group's previous monthly forecast had projected that both new and existing home prices would start to rebound to show a year-over-year rise in the first quarter of 2008.

"Buyers now have an overwhelming advantage given the wide selection of homes available in many markets," said Lawrence Yun, NAR senior economist, in the group's forecast statement.

The group's forecast also shows some additional weakness in projections for the rest of 2007 as well.

The group now sees second-quarter existing home sales falling below the 6 million annual sales pace to a 5.96 million rate. That is still only a forecast, as final sales and price figures from the just completed period are not yet available.

If it is correct, it would be the first time in four years that quarterly sales were below the 6 million home annual sales pace.

A month ago, the group was forecasting the pace of sales would end the second quarter at a 6.03 million annual rate, and stay above that 6 million threshold through the rest of this year and into 2008.

But the group now expects sales to stay just below the 6 million pace in the third quarter as well, although it sees a slight pickup from its current forecast for the second quarter sales pace.

The group also now projects that the median existing home price for all of 2007 will be down 1.4 percent, which is slightly worse than its previous forecast of a 1.3 percent drop.

The group has never seen a full-year decline in existing home prices in the nearly 40 years it has compiled national sales statistics. As recently as March, the group was still forecasting a 1.2 percent rise in the median existing home price for this year.

It also is looking for a 2.6 percent drop in new home prices for all of 2007. That is also worse than the previous estimate of a 2.3 percent drop in prices.

And while the forecast for new home prices is to increase for all of 2008, the new estimate of a 2.2 percent increase from 2007 levels is less than the previous forecast of a 2.6 percent jump in prices. The latest forecast is for a 1.8 percent rise in existing home prices in 2008, slightly better than its previous estimate of a 1.7 percent rise.

"Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008," Yun said in the group's forecast. "Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters."

ARMageddon: Record jump in mortgage payments coming soon

The group forecasts that the average 30-year fixed rate mortgage will be 6.7 percent in the third and fourth quarters of this year, after averaging 6.3 percent in the second quarter. That's slightly above its previous forecast of mortgage rates of 6.6 percent through the end of this year.

Mortgage finance firm Freddie Mac's survey found that the average 30-year has retreated in each of the last four weeks to 6.63 percent in the most recent reading, after hitting an 11-month high in the firm's June 14 estimate.

Blogging

2007-07-10T14:07:00.000-04:00

2007 is an exciting year for my business as I cross into my sixth year servicing Manatee county! I am very greatful for all the clients I have worked with over the years now. Each person was a new and exciting experiance for me. We have formed many stong friendships and business connections together and I can hardly wait to add more wonderful prospects to our lives. If I can assist you with any real estate need or even just answer your questions about our local market please contact me to discuss. There is no better topic than real estate!

Also, Feel free to use my website to view all of the active listings in Manatee County day or night. It's always up to date 24/7..

Lee Forbes

Lee Forbes PA

$120,000 remodeled Bradenton home for sale

Sarasota rental home

Gates Creek home for sale $160000 34212

Bring out the sunglasses!

Looking to get a custom website up? See what $500 get's you

Blog Entry dated 10/29/2007 11:43 AM

Blog Entry dated 10/26/2007 9:24 AM

Can it get worse?

Blog Entry dated 10/17/2007 8:38 AM

(9/17/07) - Lee Forbes of Premier Team inc. has successfully completed the REALTOR e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered through the National Association of REALTORS.®

Blog Entry dated 10/11/2007 9:46 AM

The number of foreclosures across the country dropped in September, falling 8 percent from a 32-month high in August, according to a regular monthly survey.

Don't be victimized by the bubble hype!

Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price.

Dollar Touches Another Low

The Rates are Lower The Rates are Lower!!!

2 Story Lake front Home

2 story Lake front

Listed by Lee Forbes

Address: 3317 49th Ave. E. City: Bradenton State: FL Zip: 34203 Country: usa Neighborhood: Manatee Oaks Price: $200,000 Beds: 3 Baths: 2 1/2 Floors: 2 Year Built: 1986

Do You Have Job Burnout?

Countrywide loan biz hits big slowdown

Countrywide loan biz hits big slowdown

Embattled mortgage lender reports double-digit decline in August, blames falling home values and decaying credit quality.

Soldier returns home to see his 6 year old son

Countrywide is looking for another hand to right the ship!

Countrywide is looking for another hand to right the ship!

Facing cash crunch, embattled mortgage lender is looking to strike deal similar to Bank of America bailout, paper reports.

Blog Entry dated 9/6/2007 11:36 AM

Pre-Foreclosure Short Sale Investor Workshop

It's all Flippers fault!!

We Got FIRED today ~ read and help us recover.

Bradenton real estate club meeting 8/31/07

Blog Entry dated 8/29/2007 2:51 PM

Sarasota market continues to be bright spot in Florida real estate

Tame your investing Brain!

The investing world is full of traps and our brains are wired to lead us into them.

Florida Land for Sale! only $18000

Blog Entry dated 8/23/2007 8:04 PM

And for your reading pleasure.. Here is the latest on the Liquidity Crisis

The silver lining to the decline

country wide is living off it's equity line too!

Where is Bradenton?

Bradenton is Leading the Nation Again

Highest-Depreciating and Most-apreciating Areas across the Nation

· Sarasota-Bradenton, Fla. (-16.4 percent)

Bradenton Investor Club meeting

Searching for stability

Freddie Mac said refinancing borrowers are choosing fixed-rate loans, not adjustable-rate ones.

Rent $800 per month

Reduced $45,000

Listing Price: $315,000

Search all property in Manatee county on Bradenton's MLS

Search the Manatee county MLS (multiple listing service) for FREE here!

Bose Aviation X for sale

Florida forclosure is not so bad

West Bradenton condo

Price: $179,900

Braden Woods home for sale

Listing Price: $359,900

It keeps going and going...

Housing slump gets longer, and longer ...

Realtors' latest forecast pushes back price recovery to 2nd quarter 2008; sales forecasts falls further.

Housing still hurting.

Forecast: Housing slump not going away soon

Realtors' latest forecast pushes back a recovery in home prices to second quarter of 2008 as current price, sales forecasts fall further.

Blogging

Address: 3317 49th Ave. E.
City: Bradenton
State: FL
Zip: 34203
Country: usa
Neighborhood: Manatee Oaks
Price: $200,000
Beds: 3
Baths: 2 1/2
Floors: 2
Year Built: 1986