Jacksonville Projected to Rank Second Highest in 2006 Housing Growth

29 01 2006

Fortune Magazine predicts that one third of the nation’s 100 largest metro areas (accounting for 60 percent of the U.S. population) are expected to see modestly falling house prices in 2006. The nation’s most perilous regional market, according to the forecast data is Las Vegas, a speculator-infested hot spot. Jacksonville is ranked second after San Antonio in highest projected growth in 2006.

Source: CNN Money.com

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New Listing in Il Villagio MLS 280985

28 01 2006

Nestled among lush Florida foliage and nature trails, you can enjoy the tranquility of seclusion found in the private gated community at Il Villagio, one of area’s exclusive communities in popular Southside area. Convenient to business, shopping, fine dining and entertainment, Il Villagio is ideally located in the center of everything. The city’s best shopping is right around the corner and you’re just a short drive to the area’s hottest beaches and downtown Jacksonville. Will Vasana at Watson Realty welcomes you home to this new 2BR/2.5BA condo with extra loft upstairs. Popular end unit ‘Palermo C’ plan overlooking the preserve offers privacy and elegant designs including granite kitchen countertop, GE stainless steel appliances, full-size washer and dryer, custom cabinetry, spacious master suites with walk in closets, screened balcony, knockdown finish ceilings, tiled entry foyers, lush landscaping, two parking spaces for each residence with one assigned parking (located in front of your home), ample visitor’s parking, unique Mediterranean-style architecture, barrel tile roofs, masonry separation walls for maximum privacy and the unsurpassed strength and durability of CBS (Concrete, Block, and Steel) construction. Enjoy 7,000 square foot clubhouse and lakes, fitness center, pool with expansive decks, spa, tennis, basketball court, over three miles of nature trails for walking, jogging and biking, sidewalks, car care center and decorative brick pavers throughout community. For more information, please call Will Vasana at (904) 307-8998.





Jacksonville Projected to Rank Second Highest in 2006 Housing Growth

28 01 2006

Fortune Magazine predicts that one third of the nation’s 100 largest metro areas (accounting for 60 percent of the U.S. population) are expected to see modestly falling house prices in 2006. The nation’s most perilous regional market, according to the forecast data is Las Vegas, a speculator-infested hot spot. Jacksonville is ranked second after San Antonio in highest projected growth in 2006.

Source: CNN Money.com





New Listing in Il Villagio MLS 280985

27 01 2006

Nestled among lush Florida foliage and nature trails, you can enjoy the tranquility of seclusion found in the private gated community at Il Villagio, one of area’s exclusive communities in popular Southside area. Convenient to business, shopping, fine dining and entertainment, Il Villagio is ideally located in the center of everything. The city’s best shopping is right around the corner and you’re just a short drive to the area’s hottest beaches and downtown Jacksonville. Will Vasana at Watson Realty welcomes you home to this new 2BR/2.5BA condo with extra loft upstairs. Popular end unit ‘Palermo C’ plan overlooking the preserve offers privacy and elegant designs including granite kitchen countertop, GE stainless steel appliances, full-size washer and dryer, custom cabinetry, spacious master suites with walk in closets, screened balcony, knockdown finish ceilings, tiled entry foyers, lush landscaping, two parking spaces for each residence with one assigned parking (located in front of your home), ample visitor’s parking, unique Mediterranean-style architecture, barrel tile roofs, masonry separation walls for maximum privacy and the unsurpassed strength and durability of CBS (Concrete, Block, and Steel) construction. Enjoy 7,000 square foot clubhouse and lakes, fitness center, pool with expansive decks, spa, tennis, basketball court, over three miles of nature trails for walking, jogging and biking, sidewalks, car care center and decorative brick pavers throughout community. For more information, please call Will Vasana at (904) 307-8998.





$82M Hurricane Recovery for Florida

27 01 2006

The Department of Housing and Urban Development (HUD) announced that Florida will receive almost $83 million in hurricane relief money from the federal government. The Florida Department of Community Affairs (DCA) will work with partner agencies to recommend a plan for distribution. HUD will allocate $11.5 billion in total to the five Gulf Coast states impacted by Hurricanes Katrina, Rita and Wilma through HUD’s Community Development Block Grant (CDBG) Program. Hard-hit Louisiana will receive $6.2 billion, followed by $5.5 billion for Mississippi, $74.5 for Texas and $74.4 for Alabama. Last year, Florida received $100.9 million in HUD disaster relief grants — more than two-thirds of all money awarded nationally — to rebuild from the 2004 hurricane season. Funds were distributed to the fifteen hardest-hit counties to aid ongoing recovery efforts. To date, 160 recovery projects in Florida are underway, including a new special needs shelter, repaired and improved wastewater facilities, economic development projects, new affordable housing and mitigation initiatives.

Source: FLORIDA ASSOCIATION OF REALTORS





$82M Hurricane Recovery for Florida

27 01 2006

The Department of Housing and Urban Development (HUD) announced that Florida will receive almost $83 million in hurricane relief money from the federal government. The Florida Department of Community Affairs (DCA) will work with partner agencies to recommend a plan for distribution. HUD will allocate $11.5 billion in total to the five Gulf Coast states impacted by Hurricanes Katrina, Rita and Wilma through HUD’s Community Development Block Grant (CDBG) Program. Hard-hit Louisiana will receive $6.2 billion, followed by $5.5 billion for Mississippi, $74.5 for Texas and $74.4 for Alabama. Last year, Florida received $100.9 million in HUD disaster relief grants — more than two-thirds of all money awarded nationally — to rebuild from the 2004 hurricane season. Funds were distributed to the fifteen hardest-hit counties to aid ongoing recovery efforts. To date, 160 recovery projects in Florida are underway, including a new special needs shelter, repaired and improved wastewater facilities, economic development projects, new affordable housing and mitigation initiatives.

Source: FLORIDA ASSOCIATION OF REALTORS





$325 Million Ameriquest Settlement Announced

25 01 2006

Ameriquest, the nation’s largest lender specializing in sub-prime loans, has agreed to refund $295 million to consumers and make sweeping reforms of practices that the states alleged amounted to predatory lending. Ameriquest will also pay a total of $30 million to the states for costs of the investigation and consumer education and enforcement.

The settlement resolves allegations of predatory practices by the company, including claims of inflated appraisals, unjustified fees and penalties, and high-pressure and deceptive tactics against prospective borrowers. The Office of Financial Regulation and the Attorney General’s Office negotiated Florida’s share of the settlement for Ameriquest’s approximately 62,000 borrowers in Florida. Consumers do not need to take any action at this point to pursue recoveries; they will be contacted later after specific recovery terms and plans are determined.

Under the agreement, Ameriquest must exceed current requirements in the law to protect prospective borrowers. The new requirements include provisions for full disclosure of loan terms, including specific language to be included in loan documents. Potential borrowers must be told what kind of loan they will be getting and whether the loan includes a prepayment penalty. Appraisals cannot be inflated, and there will be restrictions on refinancing offers and prepayment penalties. No refinancings may be made that do not benefit the borrower. Independent third parties will now handle closings, at which borrowers are asked to review and sign final loan documents. The courts must approve the settlement before it becomes final.

The settlement is between the states and ACC Capital Holding Corporation, along with its subsidiaries Ameriquest Mortgage Company, Town & Country Credit Corporation and AMC Mortgage Services, Inc., formerly known as Bedford Home Loans.

Source: FLORIDA ASSOCIATION OF REALTORS








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