Jeannie & Jim\’s Blog

There are 350 condos for resale on Singer Island; no condos have sold in the last 7 days and 17 are currently pending.

Mortgage rates for 30-yr fixed rates have dropped to their lowest levels in 4 years (March 25, 2004 at 5.4%)  with  the average rate for 30-yr fixed mortgages dropping to 5.47%, down from 5.53% last week; and the 15-yr fixed mortgage rate averaged 5.20%, compared to 5.33% last week.   The bleak unemployment report, which showed the largest monthly decline in jobs since December 1974,  seems to be the primary reason for this rate drop.

Even with the average 30-yr fixed rate at 5.47%, there are several lenders going lower to rates such as 5.33% and ever 5.09%.

More than half (56 percent) mortgage experts polled by Bankrate.com this week expect the mortgage rates to fall over the next 30 to 45 days; while  only 6  percent predict an increase in mortgage rates, better than a third (38 percent) of the mortgage experts believe rates will remain unchanged.

Even as the residencial housing market continues to lag, the interest in green homes is growing.   Among the most popular reasons for this growing popularity are:

• Operational cost savings
• Environmental concerns
• Occupant health
• Potential resale value

Recent sudies have found that almost two-thirds of the public are aware of green building.   As interest increases so must knowledge and education as to what GREEN really means.   Last week I spoke about “greenwashing”, today I would like to address some of the more common but yet very inportant terminlogy to know when dealing with green issues.

Five of the top terms are:

1. Carbon Footprint – A calculation of the amount of greenhouse gases produced as a result of commercial, industrial, and individual activities.
2. CFL (Compact Fluorescent Lamp) – Small fluorescent light bulbs that can be used in place of incandescent light bulbs.   CFLs consume significantly less electricity and last 8-10 times longer than incandescent bulbs.
3. Daylighting – Designing a building to take advantage of natural sunlight illumination.
4. Green Seal – A certification for construction products, such as windows, paints, and adhesives, attesting that the products were manufactured and can be used with minimal impact on the environment.
5. VOC (Volatile Organic Compound) – An organic gas with harmful effects on air quality.   VOCs are frequently associated with paint, pesticides, carpets, and adhesives.

There are 345 condos for resale on Singer Island; no condos have sold in the last 7 days and 15 are currently pending.

Mortgage rates  for 30-yr fixed rates plungrd this week to the lowest levels since January due to the governments efforts to shore up the mortgage markets.   The average  rate for 30-yr fixed mortgages  dropped to  5.53%, down from 5.97% last week; and the 15-yr fixed mortgage rate averaged 5.33%, compared to 5.74% last week.

The government is continplating an industry-backed plan to lower the 30-yr. fixed mortgage rate to 4.5% by buying mortgage-backed securities issued by Fannie Mae and Feddie Mac.

The majority of mortgage experts polled by Bankrate.com this week expect the mortgage rates to fall over the next 30 to 45 days; while 7 percent predict an increase in mortgage rates, a third of the mortgage experts believe rates will remain unchanged.  

Despite the U.S. governments efforts to provide guidelines for green produce marketing, the practice of Greenwashing, or the falsely promoting or exaggerating   the greenness of a product or service, is not unusual.   In making the determination as to the claim to be green, one can ask the following questions to help detect potential greenwashing situations:

Does the product have a hidden trade-off?

A building material such as bamboo which is green in itself may incur high shipping cost to be imported from Asia.

Can a product claim be verified?

Is there some authoritative source to substantiate a products claim to be green.

Is the product claim meaningful?

A cliam that a product is toxin-free is not necessary green when toxicity is not only determined by the material, but by the amount of the material the individual is exposed to.

Is the product claim true for most products of its type?

A retailer claims to be green  because they provide  online bill paying.   This is a common practice in the retail industry and does  little to  speak of the retailer’s commitment to going green.

Because  of the wide and varied claims of green products and services, one must be especially alert to the true nature of the  product.  

There are 344 condos for resale on Singer Island; one condo has sold in the last 7 days and 14 are currently pending.  

Mortgage rates plunged dramatically this week.   Rates for the 30-yr fixed mortgages averaged 5.97%, down from 6.04% last week; and the 15-yr fixed mortgage rate averages 5.75%.

Mortgage experts polled by Bankrate.com this week believe rates will fall over the next 35 to 45 days.   While 25 percent predict an increase, the remaining believe rates will remain relatively unchanged.

Easy low-cost or no-cost tips for conserving energy:

Start today and every day “ every little bit helps!

There are 343 condos for resale on Singer Island; no condos have sold in the last 7 days and 13 are currently pending.

Mortgage rates dropped for a third straight week, reflecting the impact the weakening economy is having on financial markets.   Rates for 30-yr fixed mortgages averaged 6.04%, down from 6.14% last week;   and the 15-yr fixed mortgage rate averaged   5.73%, compared to 5.81%   last week.

Mortgage experts polled by Bankrate.com this week don’t know what to expect over the next 30 to 45 days. While 38 percent predict an increase in mortgage rates, an equal number foresee a decline. The remaining 24 percent expect no change.

Presiding over 8.8 acres of prized oceanfront property, the two towers have been strategically sited to maximize views of the Atlantic to the east, Intracoastal Waterway to the west, and the island of Palm Beach immediately to the south.   Best of all, a 375-foot stretch of pristine beach is your backyard as the gentle rolling of the sea becomes the soundtrack of everyday life.     These floor plans include private, direct entry elevators.   Sprawling open-air balconies serve as veritable outdoor rooms while extending the overall living space.   The condominiums provide privacy, spaciousness and top-of“the-line features comparable to those you would find in an estate residence.  

Amenities  include:

• Expansive 375 feet of white sand beach
• 24-hour manned gatehouse
• Opulent arrival porte-cochere
• Concierge and valet parking services
• Grand lobby overlooking the ocean
• 24-hour lobby security
• Social room with catering kitchen and billards
• State-of-the-art fitness and aerobic center
• Cinema style theater for entertainment
• Beachside infinite-edge lagoon pool
• Two spa pools overlooking the ocean
• 2700′s private poolside grill restaurant
• Unique backup emergency generator system
• Deck-top pool surrounded by tropical landscaping

Experience direct ocean views from every residence in the both the east and west buildings. There are  homes  such as the 4,000 + square foot residence on the third floor fully furnished and professionally decorated with soft blues, ivory tones and chocolate browns for an absolutely stunning effect! From the magnificent chandelier over the dining room table to the pendants over the bar that reflect beautifully in the mirror, no detail has been overlooked. You will be amazed by the pristine furnishings and incredible attention to detail.The gourmet kitchen is truly a chef’s dream with Italian cabinetry and only the best appliances. The master suite is spacious with an outstanding master bath and a wonderful ocean view. The guest rooms, each with separate baths, have balconies with impeccable water views, so spectacular that your guests may never want to leave!

Call for details: 561-889-2374

We normally do not have the advantage of being able to incorporate green features into new design and constuction.   For those of us that have existing condos, there are low cost upgrades and fixes that will increase greenness and resourse efficiency.   The top ten are:

1. Use CFC or LED lightbulbs
2. Paint with low-or no-VOC paint
3. Install low-flow showerheads and faucet aerators
4. Replace filters frequently
5. Install a programmable thermostat
6. Insulate hot water heater
7. Weatherstrip and caulk doors and windows
8. Install motion sensors in frequently used areas to turn off lights when not in use
9. Take advantage of daylighting
10. Use recycle bins

Not only will these tips help green the environment but could save you money in the long run.

For more ideas on going green, give me a call at 561-889-2374 or email me at Jim@JWalkerGroup.com

With the constantly changing conditions in today™s real estate market, there is one tool that surpasses all others.   Our Market Snapshot keeps customers current on market conditions by sending up-to-the minute Multiple Listing Service (MLS) graphical reports to show active listings and address queries such as:

• What is the supply of unsold homes in my neighborhood?

• How fast are homes/condos selling right now?

• How do actual selling prices compare to listing prices in my area?

• How do I get more for the money in a changing market?

(Click on the Image for a Snapshot)Unlike other internet sites whose data comes from public tax records that could be up to nine months old, Market Snapshot is current using the same data base as local realtors.Armed with this type of information our customers can make valued buying/selling decisions based on current market data.   Sign up today for a FREE, no obligation subscription to our Market Snapshot, email us at Jim@JWalkerGroup.com or go to our website: www.JWalkerGroup.com