Just Listed in Naples Park $318,900

Buy this fabulous home now!
Located in the beach community of Naples Park. Near Vanderbilt Beach, The RITZ, free sunsets, and the soon to be built Mercato, a mixed use luxury condo, retail, office developement.
Special Features - 2BR+Den, 2BA, roomy 2 car garage, irrigation on well, & storm shutters. A little love will make this your wonderful vacation home, winter get-a-way, or retirement home.

Eydie & Bob are "Spouses Selling Houses" in Naples Florida.
We specialize in the beach community of Naples Park.
Contact us for more information
phone: 239-594-8589
email: info@EydieBob.com
website: www.ILoveNaplesPark.com

Economic Update

U.S. Economy: Fed Says Persistent High Inflation ‘Greatest Concern’ (Update2)
By Craig Torres
Nov. 15 (Bloomberg) -- Federal Reserve officials were concerned in October about persistent inflation and became more optimistic about the outlook for economic growth, according to records of their meeting last month.
“Most members judged that the downside risks to economic activity had diminished a little,'' the Fed said in minutes of its gathering on Oct. 24-25 released in Washington today. “All members agreed that the risks to achieving the anticipated reduction in inflation remained the greatest concern.''
Policy makers are counting on slower growth to ease inflation. So far, there's little sign of that, as price gains remain almost half a percentage point above Fed Chairman Ben S. Bernanke's preferred zone. Officials are also concerned by a year-long housing slump, which reduced the economic expansion to the slowest pace since 2003 last quarter.
Fed officials discussed several aspects of the housing market, inflation targeting and the public's outlook for consumer prices. The consensus view emerging from the meeting shows that a majority of Fed officials are inclined to raise interest rates if inflation doesn't recede.
The Fed panel has “ample scope to refine its assessment of the economic outlook before judging whether any additional firming was needed to address those risks'' given the economic data to be released between now and the Dec. 12 meeting, the minutes said.
Source: Bloomberg.com

Real Estate Watch: Who’s Buying Houses Now?
Despite low mortgage interest rates, a smaller percentage of first-time homebuyers are entering the market, according to an annual profile of buyers and sellers just released by the National Association of Realtors.
During the year ending in June, 36% of all buyers who purchased a home were first-time buyers. That's down from 40% a year ago. About 7,500 buyers and sellers were surveyed. Part of the reason for the declining share of first-time homeowners: Declining affordability for those entering the market after the housing boom of the past couple of years bumped up home prices, said David Lereah, the NAR's chief economist. A greater number of second-home sales also may have contributed to a lower percentage of first-time buyers overall.
"I hope that it's not a trend. I hope that as affordability starts to improve we see more first-time homebuyers," he said. "It's critical for the housing sector."
The percentage of single female homebuyers, however, inched up in the survey to its highest level on record. Twenty-two percent of all homebuyers were female and on their own, up from 21% a year ago and up from 14% in 1995. In comparison, single males accounted for 9% of homebuyers, unchanged from last year.
Other statistics helped validate the jobs of the thousands of Realtors: 80% of homebuyers said they used the Internet to search for a home, but 85% relied on a real-estate agent as a source of information about homes for sale. And 36% first learned about the home that they purchased from an agent, versus the 24% who learned about the home that they purchased online. www.msn.com
Source: www.realtor.org


Product Highlight:
Choice Pay
Do your customers need increased cash flow? A lower monthly mortgage payment to get them into a new home?

Ideal for Customers Who:
· Are looking for an average loan amount of $500,000 ($200,000 min, $3M max)
· Have an average credit score of 700+ (minimum of 660)
· Are self-employed, work on a commissioned basis, or have seasonal fluctuation in income (CPAs, Builders, etc.) or inconsistent cash flow
· Are financially sophisticated and understand the impact of negative amortization
· Want to maximize monthly cash flow through lower monthly mortgage payments
· Are considering a second home in rapidly appreciating areas
· Plan to relocate or stay in the home for less than 5 years
· Want to put only 5% down (full doc, owner-occupied) or 10% down (second homes or SIFA doc for either owner-occupied or second homes)
· Looking to maximize retirement or other investments (401k, IRA, etc.) by redirecting money that would go toward paying higher mortgage interest and/or principal
· Recently experienced a major lifestyle change (getting divorced or changing careers)

Note: Choice Pay Program may incur negative amortization up to 115%. Minimum loan amount is $200,000 with maximum of $3 million. This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation “Z”. It is intended solely for use by Real Estate Professionals.

For additional information, please contact: Jo Beth Nicoll at jnicoll@homebanc.com The mortgage information contained herewithin is subject to change. Please contact your HomeBanc Mortgage Banker directly for the latest information.

Economic Update

U.S. Economy: Treasuries Gain as Democrats Win House; Stocks, Dollar Decline
By Shamim Adam and Darren Boey

Nov. 8 (Bloomberg) -- U.S. Treasuries rose the most in a week and the dollar fell after Democrats won control of the House of Representatives, giving the party more power to block government tax cuts and spending increases.

The Democratic Party picked up at least 27 House seats, ensuring control for the first time in 12 years, and may win the Senate. The victory may help opposition lawmakers push through measures to cut the budget deficit and make it harder for President George W. Bush to pass policies that support growth.

``It won't be as easy for Bush to throw cash at any situation,'' said Orlando Green, a fixed-income strategist in London at Calyon, the securities unit of Credit Agricole SA. ``That will put the budget in a healthier position.''

Democratic control of Congress may lead to higher taxes ``which Wall Street perceives as bad initially but in the long run would shore up the federal budget,'' Jeffrey Hirsch, editor of the Stock Trader's Almanac, said before the election count.

Republicans say lower taxes are needed to support the economy, which slowed to a 1.6 percent annual growth rate in the third quarter, the weakest in more than three years.
Source: Bloomberg.com

Real Estate Watch: Greenspan Says Housing Market Stable
The housing market isn’t out of the woods yet, but it won’t worsen, former Federal Reserve Chairman Alan Greenspan told attendees at the annual Charles Schwab Impact conference in Washington yesterday.
”I think that while we are past most of it, there are a lot of negatives... but it is no longer subtracting from the [gross domestic product] growth," Greenspan says.Greenspan also said potential adjustments in loan costs facing many homebuyers probably isn’t a serious concern either. While some individuals will feel the pinch as their payments rise, Greenspan says these changes are "very unlikely to have a macroeconomic effect."- Dow Jones News Service (11/7/2006)
Source: Realtor.org

Product Highlight: FHA 30-year Fixed

First-time homebuyers may take advantage of an FHA 30-year fixed rate home loan. These advantages include:
· Low cash to close
· 3% borrower contribution – can be closing costs, down payment, etc.
· Seller contributions permitted
· Upfront mortgage insurance may be financed
· Alternative credit and down payment assistance permitted

For additional information, please contact: Jo Beth Nicoll at jnicoll@homebanc.com The mortgage information contained herewithin is subject to change. Please contact your HomeBanc Mortgage Banker directly for the latest information.

Naples Park Home Sales June - Sept 2006

Homes Sold.................18
Avg. List Price...........$397,300
Avg. Sold Price..........$375,638
Low Sold Price...........$278,000
High Sold Price..........$540,000
Median Sold Price.....$357,500

Eydie & Bob Are Naples Park Specialists
Visit Our Website
WWW.ILoveNaplesPark.com