SANIBEL MOURNS LOSS OF FORMER MAYOR FRANCIS BAILEY

News Release – For Immediate Release
June 8, 2013
City of Sanibel, FL Contact: City Manager’s Office (239) 472-3700

SANIBEL MOURNS LOSS OF FORMER MAYOR FRANCIS BAILEY 
COMMUNITY’S LONGEST SERVING ELECTED OFFICIAL

Francis P. Bailey
Mayor
1979

Upon notification of the passing of former Mayor Francis P. Bailey Sanibel Mayor Kevin Ruane issued the following statement:

“Today’s passing of our former Mayor Francis Bailey marks the sun setting on the era of our community’s earliest days.”

Bailey, a lifelong resident of Sanibel, born April 25, 1921, served as Mayor in 1979. Additionally Bailey served on Sanibel City Council from 1974 through 1996 and then an additional term in 1999 making him the longest serving Councilmember and elected official in Sanibel’s history.

Bailey was elected to Sanibel’s first City Council following incorporation. This City Council organized our local government that is utilized today. They adopted the first budget for the City of Sanibel, hired the first City Manager and adopted the City seal and City flag. The first City Council also authorized borrowing of $250,000 repayable over 10 years to provide capital to commence City operation’s and established the first City Hall. While serving, Bailey was a member of the Council that adopted the City’s Comprehensive Land Use Plan as well as the Community’s zoning and building regulations. Bailey also served on the Council that established the City’s Historical and Vegetation Committees as well as the establishment of the City’s Emergency Preparedness Program.

Francis Bailey was the son of two of the Island’s pioneering families, the Baileys and the Matthews, dating back to 1899 when Bailey’s General Store was first opened by his father. Bailey’s General Store continues to serve residents and Island visitors to this date. After serving our country in World War II Francis Bailey has overseen the operation of Bailey’s General Store. Francis also served our community for many years as a volunteer firefighter and as an elected member of the Sanibel Fire and Rescue District Board of Commissioners.

Flags on Sanibel municipal properties have been lowered in honor of the life and contributions of former Mayor Francis P. Bailey. The Bailey family is planning a community celebration of the life of Francis P. Bailey on Sunday, June 16, 2013. The details will be forthcoming.

Source http://www.mysanibel.com/Departments/City-Manager-s-Office/News/SANIBEL-MOURNS-LOSS-OF-FORMER-MAYOR-FRANCIS-BAILEY

John R. Wood Island Real Estate #1 in increased market share on the islands

From dates 5/15/12 vs 5/15/13

We are proud to announce that John R. Wood Island Real Estate’s 2013 Market Share has increased +5.37% from 2012

2012 – 12.71%

2013 – 18.08%

Increase = +5.37%

Our knowledgeable agents offer legendary service showing spectacular productivity.

Source: http://sanibelrealestatemarket.com/news/1223/John_R_Wood_Island_Real_Estate_1_in_increased_ma.cfm#blog

Tips on Disaster Giving

In the wake of the devastating tornadoes that ripped through Oklahoma and in north Texas recently, Better Business Bureau and BBB Wise Giving Alliance have issued tips to help donors make smart giving decisions and to avoid scams.

“After every natural disaster and manmade catastrophe, we see an outpouring of generosity, along with the inevitable scams and frauds,” said Art Taylor, preside and CEO of the BBB Wise Giving Alliance. “We urge donors to take the time to make sure their donations are going to legitimate charities that can do the most good for those in need.”

“BBB Oklahoma City is so grateful for the immediate response from people all across the country,” said Kitt Letcher, the brand new president and CEO of BBB of Central Oklahoma, who started in the position just yesterday. “We will be keeping a close eye on the situation in order to prevent, as much as possible, scams related to charity relief, as well as restoration and rebuilding services.”

BBB Wise Giving Alliance is offering the following tips to help donors decide where to direct donations to assist victims:

·         Be cautious when giving online. Be cautious about online giving, especially in response to unsolicited spam messages, and emails and social media posts that claim to link to a relief organization. If you want to give to a charity involved in relief efforts, go directly to the charity’s website. In response to hurricane Katrina, and Rita, and the Asian tsunamis, the FBI and others raised concerns about websites and new organizations that were created overnight, allegedly to help victims.

·         Rely on expert opinion when it comes to evaluating a charity. Be cautious when relying on third-party recommendations such as bloggers or other websites, as they may not have fully researched the relief organizations they list. They public can go to www.bbb.org/charity to research charities and verify that they are accredited by the BBB and meet the 20 Standards for Charity Accountability.

·         Be wary of claims that 100 percent of the donations will assist relief victims. Despite what an organization might claim, charities have fun raising and administrative costs. Even a credit card donation will involve, at a minimum, a processing fee. If a charity claims 100 percent of collected funds will be assisting disaster victims, the truth is that the organization is still probably incurring fund raising and administrative costs, but those expenses will still be incurred.

·         Find out if the charity has an on-the-ground presence in the impacted areas. Unless the charity already has staff in the affected areas, it may be difficult to bring in new aid workers to provide assistance quickly. See if the charity’s website clearly describes what the charity can do to address immediate needs.

·         Find out if the charity is providing direct aid or raising money for other groups. Some charities may be raising money to pass along to relief organizations. If so, you may want to consider “avoiding the middleman” and giving directly to those that have a presence in the region. Or, at a minimum, check out the ultimate recipients of these donations to see whether they are equipped to provide aid effectively.

·         Gifts of clothing, food and other in-kind donations. In-kind drives for food and clothing, while well intentioned, may not necessarily be the quickest way to help those in need – unless the organization has the staff and infrastructure to distribute such aid properly. Ask the charity about its transportation and distribution plans. Be wary of those who are not experienced in disaster relief assistance.

Sanibel-Captiva Islander (June 5, 2013)

Survey: 1 in 3 buyers search for over a year

WASHINGTON – May 31, 2013 – A spring home selling survey conducted by Harris Interactive on behalf of Century 21 Real Estate found that 33 percent of people currently searching for a home have been on the hunt for more than a year – and that the vast majority are willing to negotiate with sellers and make compromises to find their next home.

The survey finds that home offers are being made, but not many accepted: 42 percent of those searching for homes have made an offer in the past six months, yet only 11 percent have had their offers accepted.

However, current homeowners are more than twice as likely to have an offer accepted than current renters (15 percent vs. 6 percent). However, renters are nearly three times as likely as homeowners to report that they made an offer but couldn’t agree on price (14 percent vs. 5 percent).

“The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers’ market we saw for years,” says Rick Davidson, president and CEO of Century 21.

Of the 85 percent of buyers willing to compromise to get a home:
• 51 percent would be flexible with the closing time
• 31 percent would compromise by purchasing the house as-is
• 29 percent would put more cash down
• 58 percent would compromise on a built-in pool
• 49 percent would compromise on a finished basement.
• 37 percent would compromise on an updated kitchen
• 37 percent would compromise on walk-in-closets
• 42 percent would compromise on the length of their work commute
• 36 percent would compromise on access to restaurants, shopping and general conveniences
• 35 percent would compromise on proximity to friends and family

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=291968

Rate on 30-year mortgage jumps to 3.81%

WASHINGTON – May 31, 2013 – Average U.S. rates on fixed mortgages jumped this week to their highest levels in a year, signaling slightly higher costs for homebuyers. But rates still remain low by historical standards.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan rose to 3.81 percent, up from 3.59 percent last week. That’s still not far from the 3.31 percent rate reached in November, the lowest on records dating to 1971.

The average on the 15-year loan rose to 2.98 percent, up from 2.77 percent last week. The record low of 2.56 percent was reached in early May.

Mortgage rates are rising because they tend to follow the yield on the 10-year Treasury note. The yield rose to 2.17 percent on Tuesday, its highest level in 13 months. It has since fallen slightly to 2.11 percent in early trading Thursday. Still, that’s up from 1.63 percent at the start of the month.

Yields on the benchmark note are rising because investors are selling government bonds. That’s largely because minutes of the Federal Reserve’s last meeting showed several policymakers favored slowing the Fed’s bond purchases, perhaps as early as this summer.

The Fed’s $85-billion-a-month in Treasury and mortgage bond purchases have pushed down long-term interest rates. When it slows the bond purchases, interest rates are likely to tick up. That would decrease the value of bonds with lower yields.

Cheaper mortgages have helped boost home sales this year and strengthen the housing recovery.

Sales of previously occupied homes and newly built homes both rose in April. And a report Thursday showed the number of Americans who signed contracts to buy homes in April reached a three-year high, suggesting completed sales will increase again in the coming months. There is generally a one- to two-month lag between a signed contract and a completed sale.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year mortgages edged up to 0.8 point from 0.7 point last week. The fee for 15-year loans was unchanged at 0.7.

The average rate on a one-year adjustable-rate mortgage slipped to 2.54 percent from 2.55 percent. The fee for one-year adjustable-rate loans rose to 0.5 point from 0.4.

The average rate on a five-year adjustable-rate mortgage increased to 2.66 percent from 2.63 percent. The fee held steady at 0.5.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=291952

Fannie Mae and Freddie Mac extend loan programs

WASHINGTON – May 30, 2013 – The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to extend two programs that help troubled borrowers stay in their homes: the Home Affordable Modification Program (HAMP) and the streamlined modification initiative. Both will now remain effective through 2015.

Earlier today, the U.S. Treasury and the Department of Housing and Urban Development announced that they’re also extending HAMP for non- Fannie Mae and Freddie Mac loans.

“One of FHFA’s priorities is to provide assistance to struggling borrowers who are at risk of losing their homes,” says FHFA Acting Director Edward J. DeMarco. “These extensions keep two valuable foreclosure prevention programs available to those who need them. The extensions also align the end date for three key assistance programs developed in response to the housing crisis.”

HAMP helps homeowners struggling to keep their loans current by lowering their monthly payments. The streamlined modification initiative, announced by FHFA on March 27, gives borrowers at least 90 days late another path to avoid foreclosure and lower their monthly payments without requiring financial or hardship documentation.

Since the first full quarter of 2008, Fannie Mae and Freddie Mac have completed more than 2.7 million foreclosure prevention actions. About half are permanent loan modifications, including more than 435,000 permanent HAMP modifications.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=291883

Fla. consumer confidence hits post-recession high

GAINESVILLE, Fla. – May 29, 2013 – Floridians’ consumer confidence rose another two points in May to 81 – a third straight month of increases for a post-recession high, according to a University of Florida (UF) survey.

“The last time confidence was this high was August of 2007 when it was 82, shortly before the Great Recession began,” says Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research.

Three of the five components used to determine the Florida Consumer Sentiment Index increased. Respondents’ expectations that their personal finances will improve a year from now rose three points to 82. Meanwhile, their overall confidence in the nation’s economic conditions over the coming year increased two points to 81.

Floridian’s trust in the national economy over the next five years surged, rising eight points to 85.

The survey showed a decline in two components, however. Survey takers’ perception that they’re better off financially now than a year ago fell three points to 68. In addition, their confidence in the timing to buy a big consumer product right now, such as an automobile, fell one point to 89.

Overall, though, Floridians’ confidence shows an upward trend.

“(Last month’s) increase was largely due to increased confidence among respondents under age 60, who were optimistic about their personal finances and U.S. economic conditions,” McCarty says. But this month’s increase found that older Floridians are even more optimistic. Confidence among respondents 60 and older in the national economy over next five years increased 15 points to 88.

“As the headlines turn to news other than budget cuts and possible changes to Social Security, consumer confidence improves for Floridians,” McCarty says. “This is especially true for seniors.”

Meanwhile, positive statewide economic news also boosts confidence. The legislative session in Tallahassee recently ended with a budget increase for the first time in several years. April’s unemployment rate was 7.2 percent, a drop of three-tenths of a percent from March. Construction, retail trade and service sectors saw job increases. Home sale prices improved again by $5,000 to a median price of $165,000. Sales have been strong, and new home construction is under way in some areas of Florida.

The stock market also reached record highs in May.

So far, most Floridians have not experienced the negative effects of sequestration. However, this could change as wide-reaching cuts in services and jobs trickle into the economy, McCarty says.

That process may have already begun. Employment in leisure and hospitality is down from March, and Florida’s sales tax revenue in April was less than expected. McCarty suggested sequestration might have affected plans for vacations for workers in other states.

“Our expectation is that the effects of sequestration will be more fully realized as the summer progresses and confidence will likely stay the same or pull back slightly,” McCarty says. “For now, optimism among Floridians is growing.”

Conducted May 13-23, the study reflects the responses of 410 individuals, representing a demographic cross-section of Florida. The index used by UF researchers is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2; the highest is 150.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=291839