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February Issue Real Estate Update- ERA Select International     Here's the Good News! Builders continue to sell inventory homes at drastically reduced prices. Most resale home owners are flexible with their sales price. The cost for a builder to build a new home today versus 2005 is about 20% less do to material cost and land cost declines. There are many buyer incentives being offered by sellers. Homes are more affordable with lower sales price and lower financing costs If you are an international buyer the weakness in the dollar makes buying a home in the USA more affordable If you are an international investor this is a prime time to purchase and capitalize on future property appreciation, and currency exchange as the dollar regains strength. If you are a domestic investor the prices have come down enough where it makes sense to long term let the property and take advantage of the after tax cash flow. Attached you will find information on Closeout homes in beautiful neighborhoods from one of the better builders in America.  They are all priced below builder cost are the perfect choice for a long term let or principal residence.  Follow this link to obtain additional information http://www.erainternational.net/ .   England and Ireland Property market: Both markets are showing signs of slowing.  The Irish market has been slowing for the last 6 to 8 months and is quickly coming to a standstill.  Prices are starting to decline and not much is selling. England is now demonstrating a slowdown and prices have flattened and are beginning to go lower.  Because prices have increased sharply over the last few years rents on newly purchased homes are not covering carrying costs. I mention this because this is where Florida was 2 years ago and in Europe the property market trend appears to be about 2 years behind the USA property market. I believe the UK and Irish consumer is about as "overspent" as the US consumer and the property market trend in these countries will follow the USA. Good news is that the USA is 2 years into this trend and NOW IS A GREAT TIME TO BUY IN FLORIDA!!  There is good value in new construction and resale properties.  The exchange rate is very favorable for Europeans when purchasing. Home Inventory for Sale: at 24,298 is a decline of 2,000 from last month.  Should we get excited that the home inventory is dropping? Not yet. We only sold 1,000 homes last month. Let's get excited next month if the trend holds.  I don't believe it will unless sellers are giving up. It was the holiday season and many people don't re-list their home when it expires during this period of time. New Resale Homes Listings: 3,415 which is consistent with November. Both November and December numbers are 30% lower than the running rate for the last year.  Again let's not get too excited until we see January numbers. At present we have 2 years of resale home inventory on the market.  For home prices to stabilize we need to be at a level of available homes of less than one year. Expired Listings: at 3,157 for December was the highest of the year.  In fact it was 50% higher than the average of any other month during the year.  By the fact that these sellers did not re-list their homes for sale either means they have given up or were too busy for the holidays.  Either way any home not listed for sale in which the seller wants to sell is coming back in the future to be listed and must be absorbed. What needs to happen for the housing market to start the recovery process? Interest rates need to fall precipitously to improve home affordability Oil prices must come down to provide consumer relief with gasoline, utilities, and food prices which will improve disposable income. A strategy must be implemented that addresses broad base of home owners that are having problems meeting their mortgage obligations which in turn slows down the foreclosures and provides relief for the banks with their high rate of defaults so they can continue to lend. This can't be done at the expense of all other tax payers however. The US consumer needs to take responsibility for their spending habits.  If they can't afford something...don't buy it! My advice still remains the same.   If you are a seller: Don't expect top dollar for your property Expect your property to take a long time to sell Your property must be priced right to the market Your property must be in good shape and present well for sale If you don't need to sell, don't.  If you are a buyer: What are you waiting for???  The time is now. Expect seller concessions Don't expect to "flip"  buy and hold if you are an investor If you are a vacation home buyer or primary resident prices won't get much lower If you are a foreign national take advantage of the weak US dollar If you are a foreign national consider the terms of financing at home in your country and paying cash here as you will improve your negotiating posture. If you have a home to sell and want to buy: Consider that the $$$ you lose on the sale of your home you will make up on the purchase of your new home as both homes are in the same market. It is a good time to do this! Regards, Bob     Robert Anarumo ERA Select International 2434 Sand Mine Road Davenport, Fl.  33897 863 420 4377 Direct 863 424 7997 Fax 863 557 4543 Cell     Choosing the Right Property Manager   Every Short-Term rental owner should have a property manager. There is only so much you can do overseas. Details like property maintenance and screening tenants are things better left to a local body that you can trust. But what should you look for in a property manager? What questions should you ask? Check our resources page for a list of property managers in the vacation rental areas   Ask Around Ask friends and family who own properties in Florida who they use for property management, and to share any negative and positive experiences they've had. Do a search on the internet for Property managers in the area that your home is located and read their client testimonials. Check the Better Business Bureau (www.bbb.com) to see if any of the companies you are considering have unresolved issues. FCIG Insurance Agency is an affiliate member of the CFRVMA, a network or property managers in the Osceola and Polk county areas. Take a look at their website for a directory of services and other affiliate members that can serve you.   Know what to expect Here is a list of what services a typical Property Manager will provide. Always be on the look out for companies that are prepared to go above and beyond the call of duty:    Book Rentals  Collect Rents  Field Calls from Tenants  Repairs  Issuing Rent notices  Evictions  Inspecting the property periodically  Accounting ( Quarterly and Annual statements)   Most Property Managers charge around 5-10% of gross rents for their services, but be aware of additional charges such as set-up fees, advertising and trips to the property.   Know what to ask What are you looking for in a property manager? What are your goals and expectations? Owners living overseas will want to know that their Property Manager is accessible when needed and sensitive to the fact that you are thousands of miles away.    How long have you been in business?  What experience do you have in this kind of property? ( Short/Long Term Rental, seasonal)  Do you have insurance? What does your insurance cover?  How do screen and select tenants?  What is your monthly charge? Any additional charges?  How often will the property be inspected when vacant?  Will you advertise my property?  What kinds of maintenance are you responsible for?  As an overseas owner, what steps will you take to make me feel comfortable with you as my Property manager?  Do you have References?  Will you entering insurance claims on my behalf?   Things to look out for   Security No one wants a company that is going to leave your front door unlocked and unchecked. Your homes are one of the biggest investments you have, and such should be treated the same as if you lived there yourself. Double check your policy to see if it covers for claims related to theft and vandalism- occurrences often related to negligent security practices. Your Insurance Company usually gives credits for homes in gated or secured communities.   Companies that give guaranteed rentals Management companies should not guarantee a certain amount of rentals per month. How do they know who is going to rent the property in the next 6-12 months? Crystal ball maybe? If your management company says that they guarantee a certain amount of rentals, be sure to ask about their screening process for tenants. You wouldn't want just anyone staying in your property.   Follow-up Take control of your finances. While you probably do pay various people to handle your affairs abroad, like having an escrow account for mortgage payments and a property manager for maintenance etc the bottom line is, your investment in your investment. Sometimes it is best to do some things yourself. Take note of the renewal date of your insurance policy and call your agent close to that time to make sure that they have the most current information regarding your finances, and mailing address. Florida Chartered Insurance Group Inc. has a toll-free number out UK clients may use: 08-082348277. Call your Property Manager every so often to make sure that things are running smoothly and pay your own utilities and taxes directly. This is the only way to make sure that the bills are paid. Most companies offer services online and through the telephone to get up-to-date information about your account. While it does take a while longer and can be frustrating at times, nothing can buy piece of mind knowing you tenants have lights and running water!   Camille Gentles FCIG Insurance Agency Attraction Review- By Kissimmee Guest Services On January 7, 2008 Disney’s Hollywood Studios opened their doors for the first time after shedding its MGM license. What will magic of Hollywood bring to Orlando, you ask? Toy Story Mania arrives on set this summer. Have your 3-D glasses ready as you board your spinning craft to travel through carnival inspired virtual worlds. The ride seats up to eight passengers and records each individual’s score accumulated by firing toy cannons at virtual targets! "Copyright Disney Enterprises, Inc. All Rights Reserved" There’s more…GO WILDCATS! The kids and songs of East High invite you to sing and dance along in the feature of “High School Musical 2: School’s Out!” Look for the arrival of some new friends at Playhouse Disney this February! Starring Little Einsteins, Mickey Mouse Playhouse, and Handy Manny to name a few! Be a part of the “Block Party Bash” deemed one of the most interactive parades in Disney history. With retro tunes, high-flying acrobatics, and trampolines there are bound to be a few surprises! Joining in the fun is more than 20 partying Disney-Pixar Film Pals to include the Incredibles, Monsters Inc., Toy Story 2, Bug’s life, and much more! The hope is the new attractions will inspire a new view of the park as more than just a thrill seekers indulgence. But, while there is still much chatter and speculation about the future of Disney’s Hollywood Studios, there is still belief that this will be the year that the park makes it’s come back. Expect the best in discount tickets to all of Orlando’s major attractions with Kissimmee Guest Services.  Visit us at www.kgstickets.com or call 1.877.273.5636 for all your ticketing needs!   Events for February   I Love You, You're Perfect, Now Change Winter Park Playhouse, 711-B Orange Avenue January 25 thru February 16 Back by popular demand! Dubbed, "Seinfeld set to music," this celebration of the mating game takes on the truths and myths behind that contemporary conundrum known as "the relationship."  407-645-0145 or http://www.winterparkplayhouse.org/ 19th Annual Zora Neale Hurston Festival of the Arts and Humanities Eatonville, FL Thursday, Jan. 24 - Sunday, Feb. 3 http://www.zorafestival.com/ Cinema in the Park - Princess Bride Centennial Park, Sanford Friday, February 1 7:30 PM  FREE Bring a blanket or chairs, perhaps a picnic and enjoy a movie and free popcorn 407.330.5607 Buddy's Blues-B-Q Downtown Orlando, Orlando City Hall Saturday, Feb 2nd 2pm-9pm Free Admission (food & beverages available for purchase) Join Orlando Mayor Buddy Dyer at the second annual Blues-B-Q, a celebration of blues music and barbecue. Tamara.Ahrens@cityoforlando.net Valentine's Cooking Class Truffles and Trifles Saturday, Feb 9th 7pm $140 per couple Fabulous meal to celebrate a night of LOVE. Bring wine and the incredible meal. http://www.trufflesandtrifles.com/ Ola Fest Valentine's Day Lake Eola Park Amphitheater Thursday, Feb. 14th 6:30-9:30pm FREE A musical event with performances by "Otros Aires", a band from Argentina which will be making their North American debut at Lake Eola Park. Their music is a fusion of tango, jazz, house music, hip hop, spunk and electronic music. For more info call 407-273-4079 or email leapstormpictures@earthlink.net SeaWorld's Bud & BBQ Saturday, Feb. 16th 9:00am - 8:00pm General Park Admission, Additional charges for food Enjoy country concerts performed by country music's hottest stars and taste the best BBQ in the south. http://www.seaworldorlando.com/ 29th Annual Elvis Presley Festival Radisson WorldGate Resort Feb. 23-24 10am to 3:00pm 407-281-9818 and 407-908-9137   January Issue Pip Pip Hooray! January 1 2008 marks the first day of the reenactment of PIP in Florida. Personal Injury Protection provides up to 10k in your auto policy to cover medical and other expenses resulting from an automobile accident for people specified in the policy, regardless of who is at fault for the accident. In response to fraudulent claims received by insurance companies regarding medical claims, PIP was originally set for sunset in October 2007 but Governor Charlie Crist reenacted the coverage effective 1/1/2008 requiring all drivers to carry minimum 10k in bodily injury limits and PIP. Policy holders without PIP after January 1 2008 may be subject to the suspension of their licenses and registration. Policy holders should receive a mandatory PIP reminder in the mail, but if not, contact your FCIG Insurance customer service department today to make sure that you have this valuable coverage.   Camille Gentles FCIG Insurance Agency Attraction Distraction by Kissimmee Guest Services     The New Year brings an incredible array of new attractions, live entertainment, and special events to Walt Disney World Resort. This upcoming year Disney invites you to come and experience the continuation of its "Year of a Million Dreams" celebration throughout 2008. As part of the 2008 Year of a Million Dreams celebration, Disney will randomly award over one million MORE one-of-a-kind dreams through the Disney's Dreams Giveaway. After such an incredibly successful year Disney promises that the 2008 "Year of a Million Dreams" will boast "Dreams once thought impossible made true!" For example, the 2008 Disney Dreams Giveaway will include such "over-the-top experiences" as a New Year's Eve night stay inside Cinderella Castle Suite at Disney's Magic Kingdom, a star-studded trip to the "High School Musical 3" film premiere, a flight in a a hot air balloon high above a Disney World theme park and a private day at Disney's tropical island paradise, Castaway Cay. During the 2008 Year of a Million Dreams, Disney will also award hundreds of thousands of other dreams in various shapes and sizes such as Dream FASTPASS badges, special viewing for Disney parades, Disney shopping sprees, gourmet Disney dining packages, special Dream Mouse Ears, Dream pin sets and additional hours (known as Dream Times) for chosen guests to enjoy a Disney theme park. Let 2008 be the year that all your Disney Dreams come true.  With such amazing experiences to come, be sure to make plan ahead and purchase your tickets from Kissimmee Guest Services.  You can purchase them online at http://www.kgstickets.com/ or call 1-877-273-5636.    Keeping Your Spear on Target   Mitigation Advice from the Professionals at Dri Rite In order to ensure success in the short term rental marketplace you need to have strategic vision.  Selecting the right partners that share your vision is mission critical.  Think about your vacation rental business as if it is a hunter's spear. The spear has three critical parts: point, shaft, and flights.  At the tip of the spear, the point, you have selected a property manager that you have entrusted to market and manage your rental property.  The spear's shaft is there to give balance and to allow for you to continue thrusting forward, keeping the point flying towards the target, rentals.  Make certain that the shaft is straight and true by employing a capable and dedicated insurance agent that will find you the proper coverage to safeguard your rental property.  Lastly, the flights will keep your spear flying towards the target despite any outside forces that attempt to take it off course. The flights are the restoration and mitigation firm you make part of your team.  They will respond to property casualties in a timely manner, return the rental to its pre-loss condition rapidly, and ensure you have great documentation of the event. When selecting a mitigation and restoration vendor keep in mind they are the part of your strategic plan that ensures your vacation rental returns to market quickly after a property casualty.  Make certain that they are covered with a separate Mold Pollution Liability policy.  A high quality firm will carry $5 million coverage in addition to general liability. The restoration vendor should provide comprehensive project documentation.  All documentation should be prepared as if for litigation.  Being prepared ahead of needing to be is a key attribute of strategic thinking.  All restoration firm employees participating in remediation and structural drying activities should be trained and supervised by either a certified microbial remediation manager (CMR). This will insure accountability, and integrity thought the restoration project. Water or fire damage will stop your rental property dead in its tracks.  The resulting damage can be a hindrance to maintaining positive cash flow.  By having the three key components discussed earlier in place before you need them; you will navigate a casualty much more quickly and easily.  Having relationships in place ahead of time allows for prompt response and solutions to be effected.    DRIRITE ® 1.888.4DRIRITE 2007 Archives December Issue The Annual CFVRMA Conference and Tradeshow   On November 15, FCIG Insurance Agency was one of many vendors that participated in the biggest CFVRMA Tradeshow and Conference to date. Held at Disney's Contemporary Resort over 25 companies, all having something to offer the vacation home industry, came to meet and greet with Property Managers and other Members of the CFVRMA. Did your Property Manager attend? If so, they were exposed to a wealth of information, education and networking with vacation home industry professionals such as Kissimmee Guest Services, Kids Night Out, Medieval Times Dinner Show and more!    Created in 1997, The Central Florida Vacation Rental Managers Association is the state's leading unofficial governing body of Property Managers and associate members based in Polk/Osceola County. Most vacation homeowners live many miles away and have to trust property managing companies to look out for their investments in turns of home upkeep, rentals and claims; however, for the most part the vacation home industry is virtually unregulated. A rental manager who joins the CFVRMA is saying to their clients that they want to be educated about changes in the industry, and The CFVRMA is the answer to making sure top tier rental managers are highly visible and accessible to home owners.   This was FCIG's second appearance at the Tradeshow & Conference. It is always a pleasure to meet with those working to make the Vacation Home Industry flourish and let them know that our agency is committed to finding them the best insurance coverage for their homes and giving them the most up-to date information on their policy.   For more information on the CFVRMA , log on to www.cfpma.clubexpress.com, or contact them at info@cfpma.org. FCIG Insurance Agency also ran a peice on the CFVRMA, formerly the CFPMA, back in its March 2007 issue, read more about them here.   December Events   ICE! Gaylord Palms November 19 - January 3 $16.00/adult if you purchase online Indoor world hand-carved from nearly TWO-million pounds of ice. Also features ice skating. www.gaylordpalms.com/ice 407-586-4-ICE for more information   Holidays Around the World Epcot November 23 - December 30 Regular Epcot admission Discover the traditions and stories of the Epcot World Showcase nations plus, see and hear famed celebrities narrate the Candlelight Processional with a 50-piece orchestra and mass choir. http://www.disney.com/   Kissimmee Holiday Extravaganza Kissimmee's holiday event features live entertainment, some 20 tons of snow, fireworks and more, in and around Lakefront Park. For more information call (407) 932-4050.   Mickey's Very Merry Christmas Parade and Party Throughout most of December, Mickey hosts a special parade and party with fireworks, snow flakes, cookies, hot chocolate and more. Fun starts at closing in the Magic Kingdom. Call (407) 824-4321 for more information   Fall Concert Series at Kennedy Space Center Saturday, Nov. 10 - Saturday, Dec. 1, 2007 Every Saturday Location: Kennedy Space Center Hours: Starts at 4:00pm Admission: General Admission At the Event: Music Orlando, 321-449-4400   The Osceola Center for the Arts Big Band and Community Chorus Concert Sunday, Dec. 23, 2007 Kissimmee, 407-846-6257   Alive After Five Cheers to the Holidaze! 5:00-9:00PM - Thursday, December 13, 2007  (FREE to attend, $5.00 to partake in food and beverage sampling) This event is sponsored by the Sanford Welcome Center and is supported by the city's Community Redevelopment Agency, Sanford merchants, and dedicated community volunteers.  The streets are lined with food and beverage sampling tents, art, jewelry, and much more!  This event is an overwhelming success, drawing in excess of 6,000 participants monthly.  See why Sanford is developing a reputation as the seat of arts in Seminole County November Issue News and a special offer from Money Corp   Whether you are buying or selling a property in Florida, Moneycorp can save you money on your international currency transfers.  While high street banks are often the first port of call for foreign currency transactions, specialist currency dealers will normally offer superior rates of exchange, in addition to a more comprehensive range of services that will help protect you from adverse currency movements. There are several options open to you, such as fixing an exchange rate now for funds that you wish to transfer in the future. This means that you can take advantage of the exchange rate if it moves in your favour and you will be protected from an adverse currency movement. You can also request that your exchange broker watches the market for you in order to try and achieve a specific rate.   The use of these flexible market tools, means that you can really make your money go further.   Currency Market Update:   A widening trade deficit, potentially lower interest rates, a weakening currency: Does that sound familiar? Sterling now finds itself in the same boat as the Dollar and it is only the suicidal tendencies of the Dollar that have kept the Pound afloat this month. The kicking that was hardest to bear came from its own central bank governor. Mervyn King presented the Bank's quarterly Inflation Report with such a long face and such a downbeat commentary that investors fled the room in panic. Dr King's gloom has subsequently been underlined by a succession of reports on the residential property market that show falling prices and falling activity. But never mind. Things are even worse in the States. Unless the Euro has a big problem with the $1.50 hurdle it will probably still be able to drag Sterling higher against the Dollar. Does Sterling deserve it? No, but there you go.   Moneycorp Special Offer   All those clients who register with Moneycorp this month will receive a free privilege card. The Moneycorp Privilege Card entitles you to commission free currency at any of the TTT Moneycorp currency exchange bureaux. The Moneycorp Privilege Card also entitles the holder to commission free currency and a 1% improvement on advertised rates at 17 TTT Moneycorp branches (also situated in the Gatwick and Stansted airports).   To take advantage of this special offer or to find out more about Moneycorp's services call the Florida office on +1 321 559 1050 or email Jacqueline.Crimmins@moneycorp.com Attraction Distraction - By Kissimmee Guest Service   "And the Grinch, with his grinch-feet ice-cold in the snow, stood puzzling and puzzling:'How could it be so? It came without ribbons! It came without tags! It came without packages, boxes or bags?'"   Can you believe it? The holidays are here!  And from December 7 through January 1, the celebrations are resort-wide across Universal Studios, Universal's Islands of Adventure, and Universal CityWalk!   Just like the Grinch, your heart will grow three sizes this Christmas season with the return of Grinchmas at Universal's Islands of Adventure in celebration of the 50th year anniversary of Dr. Seuss's beloved children's story "How the Grinch Stole Christmas".  Sing along to the brand new musical on stage in the heart of Seuss Landing. Have a chance to meet the star of the show and all the Whos from Whoville.   But the celebration only begins there... Catch the excitement of America's favorite parade at Universal Studios!  The streets of Universal New York will be flooded with authentic floats and balloons of the famous Macy's day parade.  Prepare to be dazzled by talented street performers and the sounds of marching bands from around the country.   Bid a fond farewell to 2007 and rock your way into 2008 with live performances from Foreigner and the B-52's center stage at Universal's CityWalk.  In addition, enjoy all-you-can-eat gourmet food and live entertainment in all the clubs.  When the count down begins, put on your party hat and sound your noise maker! As the clock strikes twelve, you'll raise a glass for a champagne toast as fireworks light up the sky to reign in the New Year! Guest must be 21 years old to attend the event.   To purchase discount Universal Studios tickets call Kissimmee Guest Services at 1-877-273-5636 or visit www.kgstickets.com.   Don't Be Content With Contents' (Coverage)   Attention Condo-Unit owners!  Have you been told that you only need contents coverage because the condo association's master insurance policy covers the structure?   Your association's policy only covers the exterior and dividing walls TO THE DRYWALL.  This leaves you without insurance to cover the elements of your condo that you own - such as floor and wall coverings, lighting fixtures, cabinetry, countertops, interior plumbing fixtures and anything else you can see as you look around your unit.   These would all be your responsibility to replace and replacing them can add up!   That's why, when you call us for insurance, we'll ask you the square footage of your unit and other questions related to the structure, so that we can provide you with a policy that covers these elements as well as contents' and liability coverage.   Finally, remember to have this coverage arranged and in place on the day you close on - or legally own - your condo.   So, if you're shopping for a condo and the sales agent tells you that you only need contents' insurance, politely correct him and give us a call!   Real Estate and Mortgage News from Coldwell Banker Feltrim     Lots of noise out there in the financial markets!  It will be interesting how the lenders will fare during the next 12 months.   The larger US banks have pre-warned Wall Street that their profits will be lower as they report their numbers during the next few weeks due to under performing loans.  I hope they are smart enough to aggressively report under performing loans.  If they are not reporting what is really happening with their under performing loans there will be many banks with new CEO's next year.   The loan crisis is exacerbating an already dismal housing market performance.   I believe with the property market peaking in the 2nd quarter of 2005 that the peak of the adjustable loan adjustments will occur in the 2nd quarter of 2008 as many of the adjustable loans are 3 years in duration.   Many are hoping that the Federal Reserve will continue to lower interest rates so that they can refinance their loans as they come up for their annual adjustment.   If interest rates don't continue to drop or the US government does not intervene with owners falling behind on mortgage payments I believe the housing market will continue to come under pressure.   So what is happening in the Central Florida property market?  The good news is inventory level of resale homes dropped for the 1st time in 2 years!  Inventory dropped by 3 homes to 26,310.  Before you get excited about the decrease in inventory I believe it is the result the number of new listings on the market dropping from a run rate of 5,600 per month to 5,000. Sellers are giving up selling their homes and are not renewing their listings at the same pace as before.   Please click on hyperlink to view all the numbers.   New contracts in September have hit an all time low at 1,173 and expired listings are at their 2nd highest ever at 2,180.   September is usually one of the two slowest months of the year for property sales and this year sales of resale homes fell to 924 which is also a record low for our property market.   With the banks in chaos it was more difficult for people to get loans last month which I believe was a major contributor to the fall off in home sales.  This should self correct as the banks stabilize over the next few months.   To put the property market in perspective I did a comparison of the peak market numbers from 2005 and compared to this months numbers so that you can see the change in performance.                                June               Sept                                2005               2007       increase +/ decrease ( ) Interest rate              5.43%             6.21%      +      14% Inventory of homes    3,253              26,310      +    709% New Listings             3,948               5,000      +      27% Expired Listings           143               2,180      + 1,424% Sales Closed            3,119                  924             (70%) Avg Days on Mkt.          29                  113      +    290%   As you can see the inventory of homes for sale increased 709%, while homes that expired, (did not sell), increased by 1,424% and actual sale of resale homes dropped 70%.   Current market conditions tell us that there is supply of 26,310 homes with demand 924 homes or a 28 month supply of homes for sale on the market. This is up from a 20 month supply last month driven by the drop off in sales and not growth in inventory. Please keep in mind it is September and I expect a correction to this trend in October as sales usually pick up during this month.   What happened?   In 2004 The stock market was not performing, interest rates were low, banks were paying 2% on your money in savings and everyone was a real estate investor.  Homes were being sold faster than the property market could absorb them because between 25% and 30% of all homes sold were being sold to investors and no one gave a thought to the fact that there were just too many additional homes for people to live in. Real estate prices were increasing artificially due to the big demand and investors were chasing the high returns on property by "flipping."  Many of these homes were completed or purchased in 2005 at the end of the real estate bull market.   In 2007 everyone is still trying to sell the homes they contracted on in 2005 creating an excess supply and declining prices.  Investors want to put there money where they can get a higher return which is stocks, bonds, and the banks.   Foreclosures continue to increase throughout the US with California, Arizona, Nevada, and Florida being the highest.  This is putting further pressure on the property market.   So with all this bad news in the property market why am I a cautious optimist? The bad news is finally out in the open and people have finally acknowledged it. Therefore people will now act on the issues with new loan programs and lower home prices. Interest rates are coming down which should fuel the housing market. Prices are much more affordable than in 2005. The Pound Sterling, Euro, and at the Canadian dollar are near record highs against the weak US dollar which makes foreign investment in US properties favorable. Builders are strongly incentivizing buyers to purchase to "unload" their excess inventory. The banks will need to "energize" sales from mortgages or will have difficulty meeting their profit targets and will have to develop loan programs to compete in this market. Our Governor is addresssing homeowner insurance rates and property taxes to help get the operational expenses of home ownership back in line to improve affordability of home ownership. Our local economy remains robust and job growth continues to lead the nation, and tourism remains strong. The price of a resale home is well below the cost of new construction.  I don't believe prices can go much lower. It will be a slow recovery and prices may still decline further before we fully recover if the foreclosures remain a problem.   In my opinion we are clearly into 2009 before the inventory of homes comes back into balance with demand.  However our market is not static, it is dynamic and people continue to migrate to Central Florida.  The days of 25% appreciation are over but if you buy your home at the right price property in Central Florida is a good addition to your investment portfolio and if you are looking to relocate to Central Florida then pricing hasn't been better for many years. It is a perfect time to buy a home if you are a foreign investor with the lower prices and favorable currency.     So what should I do if I am a buyer, or seller???  Same as last month!!   If you are a seller: Don't expect top dollar for your property Expect your property to take a long time to sell Your property must be priced right to the market Your property must be in good shape and present well for sale If you don't need to sell, don't.  If you are a buyer: What are you waiting for???  the time is now. Expect seller concessions Don't expect to "flip"    buy and hold if you are an investor If you are a vacation home buyer or primary resident prices won't get much lower If you are a foreign national take advantage of the weak US dollar If you are a foreign national consider the terms of financing at home in your country and paying cash here as you will improve your negotiating posture. If you have a home to sell and want to buy: Consider that the $$$ you lose on the sale of your home you will make up on the purchase of your new home as both homes are in the same market. It is a good time to do this!   Robert Anarumo Coldwell Banker Feltrim 210 S. Dixie Dr. Haines City, FL  33844 Bluetacular Night Out   Last Thursday, the Kissimmee Guest Services team had a night out to see the magic that is Blue Man Group at Universal Orlando. We had a great time! There was so much to see and experience. This show has something for everyone, from children to children at heart Curtis loved the diversity, "Comedy and rock all mixed into one." One Blue Man is creating art out of paint balls, while another's mouth is stuffed with marshmallows. First they play unique and awesome music on the slap-o-phone before letting the audience in on the fun by teaching proper "rock" choreography. The unexpected audience participation was another part many of us loved. From sitting in your seat trying to catch projectile sweets with your mouth, to a select few who got pulled up on stage to help the Blue Men with their performance, everyone feels like they can be a part of the show. Laura particularly loved playing in the toilet paper, feeling just like a kid again. This was an experience none of us are likely to forget.  Brilliant musicians, radiant colors come together for this one of a kind experience. Tre felt there was "never a dull moment. Between the music and lights you're always entertained." This is a show that should not be missed!   For tickets to the Blue Man Group show visit http://www.kgstickets.com/ or call 1-877-273-5636.     October Issue Ask Us!   What is the difference between a cancellation and a Non-renewal?   There is a big difference between an insurance company canceling a policy and choosing not to renew it. Insurance companies cannot cancel a policy that has been in force for more than 60 days except when: You fail to pay the premium You have committed fraud or made serious misrepresentations on your application.   Nonrenewal is a different matter. Either you or your insurance company can decide not to renew the policy when it expires. Depending on the state you live in, your insurance company must give you a certain number of days' notice and explain the reason for not renewing before it drops your policy. If you think the reason is unfair or want a further explanation, call the insurance company's consumer affairs division. If you don't get a satisfactory explanation, call your state insurance department. The company may have decided to drop that particular line of insurance or to write fewer policies where you live, so the nonrenewal decision may not be because of something you did. On the other hand, if you did do something that raised the insurance company's risk considerably, like committing fraud, the premium may rise or you may not have your policy renewed.   If you have questions about your insurance policy, or insurance in general, e-mail us at feedback@Floridachartered.com. We'd love to help! October Events   Flashback Features September 5th - October 31st Two Orlando Area Locations: Pointe Orlando Stadium 20 + IMAX (407-248-9228) OR Wekiva Riverwalk 8, Apopka (407-884-8080) See some of your favorite movies back on the big screens. ex. Indiana Jones and the Last Crusade, The Matrix, Princess Bride, and E.T. $5/person For more info, call the theaters Miami Carnival Sunday October 7, 2007 BiCentennial Park, Miami Live Entertainment featuring The Queen of Soca, Alison Hinds Soca Monarch 07 Iwer George - Groovy Soca Monarch 07 Biggie Irie Shadow, Lord Nelson, Jovi Rockwell, Gailann, Crossovah, Whysper, London's Soca Monarch Wendy Mollineau, Barry Chandler Barbados Party Monarch & many more Play Mas - Buy a Costume - Support the Mas Bands call the HOTLINE @ 305-653-1877 for more details International Food and Wine Festival Walt Disney's EPCOT Center Friday, Sep. 28 - Saturday, Nov. 17 11:00am - 7:00pm Regular admission to Epcot Savor unique foods and fine wines from South Africa, Italy, Australia, Russia, Spain, Ireland and many other exotic locales. It's a culinary and cultural potpourri, complete with tasty sounds from the "Eat To The Beat" concert series and over 20 international food and wine marketplaces. 407-939-3378 or www.disneyworld.com/food   Date Night at Leu Gardens Harry P. Leu Gardens Friday October 5th Garden opens at 6pm, movie starts at 8:30pm $5/person (garden members FREE) September movie is MOONSTRUCK http://www.leugardens.org/  Winter Garden Music Fest 2007 downtown Winter Garden October 5th - 7th Free There will be over 21 hours of music with 30 diverse musical acts, an added KidzFest area with an educational component and music seminars open to the public; a wonderful opportunity for the whole family to enjoy good music in beautiful downtown Winter Garden. Musical acts include genres of Rock, Jazz, Country, Choral, Celtic, Blues, Latin, Contemporary, Pop, Gospel,and Thai. http://www.wintergardenmusicfest.com/ Viva Osceola Kissimmee Lakefront Park Saturday October 6th 11am - 5pm Free 407-847-3174 or http://www.kissimmeechamber.com/ This Latin festival includes well-known cultural musicians and artists, as well as an array of tempting Spanish cuisine   CHOCOLATE, CHOCOLAT & WINE Enzian Theater Wednesday October 10 @ 5:30 PM $15 non-members - FREE for EFS Members Admission includes: Chocolate & wine tasting and the film! This night has it all... wine, chocolate and a special screening of the romantic film, Chocolat starring Johnny Depp and Juliette Binoche. ** Great Dates Orlando Book Signing at this event! RSVP by October 3 http://www.enzian.org/ 20 ways to save time and money on your next Orlando Vacation   20 ways to save time and money on your next Orlando Vacation   It's your vacation, a celebration, the perfect opportunity to spend quality time with that special someone, or the whole family. Too often time is lost with the little details and oversights that come with vacation planning. Here are some tips to maximize your time and money so that you can get the most out of your vacation.   Before You Go Research all of the places your plan to visit. Purchase advance tickets with Kissimmee Guest Services for low prices and at the door delivery service. Arrange Lodgings- if you do not already own a vacation home in Florida consider renting one for your stay. Vacation rental home come furnished and have many amenities similar to staying in a hotel with all the comforts of home. Know your way around the airport. Both Orlando International Airport and Sanford International airport offer virtual tours of their airports. Confirm all reservations before leaving. And Make plans to visit Florida Chartered during your stay. We'd love to meet you!!!   At the Airport  Allow plenty of time before your flight to check in and go through security. It's recommended that you arrive one and one-half hours early for domestic flights and two hours early for international flights. Make sure all adults in your party have their driver's licenses and/or passports in a place that's safe yet easily accessible. You may need to present identification more than once before boarding your plane. Before approaching the metal detectors at the security checkpoint, take off your coat or jacket and belt. Wear slip-on shoes that can be easily removed if you're asked to do so. Place all of your airline, hotel and rental car reservation information in a single envelope or binder that you keep in your carry-on luggage. For added safety, keep a copy of this information in your checked bag as well.     Theme Park Tips Don't worry about bringing a change of clothes after riding a water ride. I guarantee you, you will be dry within the next 30 minutes!  A great chance to cool off!  Arrive at the theme parks early, then take an afternoon break at your hotel. Enjoy an early dinner, then come back in the evening to enjoy the rides and nighttime shows when everyone else is leaving the parks or eating dinner. Don't forget your camera, batteries and plenty of film-you'll pay more for these essentials at the parks Your bags will be inspected as you enter each park, so use the same good judgment in packing a bag for the theme parks as you would when traveling on an airplane. Coolers are not permitted in the parks. Dining It is customary to tip 15-20% of the bill  for good service. If you have a coupon, tip on what the bill would have been Call ahead for reservations, especially during peak seasons like summer and the Holiday Months. If there is a wait, bring along a snack for the kids. They will love you for it! Pick up an Orlando Weekly for the best in dining, reviews, ratings and more Shopping Designate a meeting spot if the family is going to split up and go their separate ways. Plan     to meet there through out the day if you plan to spend the day at one venue, like one of our many outlet malls Malls and Outlet malls are usually less crowded during the week or early in the morning Flea markets are a great place to shop at low prices. Sometimes you can find rare treasures at these places too. Don't over look them. Usually open on the weekends Click Here for a description of malls, outlet malls and flea markets in the Orlando Area. Attraction Distraction-By Kissimmee Guest Services   Halloween Horror Nights®   Plans are being made. Blades are being sharpened. Body parts are being stitched together. Once again, Universal Orlando® Resort is making preparations for Halloween Horror Nights®, the country's largest and most terrifying annual Halloween event. On select nights throughout October, the Universal Studios Florida® theme park at Universal Orlando Resort is transformed into a nightmarish labyrinth of haunted houses (designed by Universal Studios' special effects wizards), outrageous live shows, electrifying scare zones, and an army of mutants, monsters and maniacs roaming the darkened studio streets. Now in its 17th year, Halloween Horror Nights was Amusement Today's 2006 Golden Ticket Award winner for Best Halloween Event, annually drawing hundreds of thousands of horror fans from up and down the East Coast and around the globe. This year's event promises to break new ground with some of the biggest names in horror invading the studio. For the first time ever, as visitors flee from one fright to the next they'll come face to face with movie icons Freddy Krueger, Jason and Leatherface. These horror favorites will star in the greatest exhibition of pure terror ever unleashed anywhere...on or off the silver screen! It promises to be an event filled with unprecedented thrills and pulse-pounding excitement. So make plans to attend Halloween Horror Nights 2007 at Universal Orlando Resort. You may never want to leave...in fact, you may never get the chance. Call Kissimmee Guest Services at 1-877-273-5636 or visit http://www.kgstickets.com/ for Discount tickets.   This event May be too intense for young children. Sorry, no costumes allowed. Dates, times and entertainment subject to change. Universal elements and all related indicia TM & © 2007 Universal Studios. © 2007 Universal Orlando. All rights reserved. 238089/0307   September Issue I'm installing a pool—what kind of insurance do I need? Pools and Insurance According to the Center for Disease Control, over 3,200 people drown each year. Among children, ages one to four, most drowned in residential swimming pools. Most of these young children had been out of sight for less than five minutes and were in the care of one or both parents at the time. If you plan to purchase a pool, the I.I.I. suggests that you: Contact your town or municipality Each town will have its own definition of a “pool,” often based on its size and water depth. If the pool you are planning to buy meets the definition, then you must comply with local safety standards and building codes. This may include installing a fence of a certain size, locks, decks and pool safety equipment. Call your insurance agent or company representative Let your insurance company know that you have a pool, since it will increase your liability risk. Pools are considered an “attractive nuisance” and it may be advisable to purchase additional liability insurance. Most homeowners policies include a minimum of $100,000 worth of liability protection. Pool owners, however, may want to consider increasing the amount to $300,000 or $500,000. You may want to talk to your agent or company representative about purchasing an umbrella liability policy. For an additional premium of about $200 to $300 a year, you get $1 million of liability protection over and above what you have on your home. It would also provide added liability protection when you drive. If the pool itself is expensive, or if you decide to install an in-ground structure, you should also have enough insurance protection to replace it in the event it is destroyed by a storm or other disaster. Pool Saftey Tips Here are some pool safety tips you should follow: Put fencing around the pool area to keep people from using the pool without your knowledge. In addition to the fences or other barriers required by many towns, consider creating “layers of protection” around the pool, i.e. setting up as many barriers as possible (door alarms, locks and safety covers) to the pool area when not in use. Never leave small children unsupervised—even for a few seconds. And never leave toys or floats in the pool when not in use as they may prove to be a deadly temptation for toddlers trying to reach them. Keep children away from pool filters and other mechanical devices as the suction force may injure them or prevent them from surfacing. In case of an emergency, know how to shut off these devices and clearly post this information for easy use. Be sure all pool users know how to swim. Learners should be accompanied by a good swimmer. If you have children, have them take swimming lessons as early as possible. Don’t swim alone or allow others to swim alone. Check the pool area regularly for glass bottles, toys or other potential accident hazards. Keep CD players, radios and other electrical devices away from pools or nearby wet surfaces. Don’t allow anyone who has been drinking alcohol to use the pool. Pay attention to the weather. Excessive heat can cause dizziness, which can dangerous around a pool. And never swim during rain or lightning storms. Never dive into an above-ground pool and check the water depth before plunging into an in-ground pool. Keep clear of the area near a diving board. Don’t swim if you’re tired or have just finished eating. In the event of an accident, clearly post emergency numbers on the phone. Keep a first aid kit, ring buoys and reaching poles near the pool. You may also want to consider basic first aid and CPR training. British Mortgages Abroad LLC (BMA) Brought to you by MoneyCorp   Background GE Money Home Lending launched British Mortgages Abroad (BMA) in 2001, introducing the UK's first dedicated British Pounds Sterling mortgage for British buyers of holiday homes in Florida.   BMA mortgages are only available to UK residents who are homeowners and want to either buy or re-mortgage a holiday home in Florida.  Apart from BMA's British Pounds Sterling mortgage, the other option available to British buyers is to take out a US dollar mortgage.  US dollar mortgages can sometimes be confusing with unfamiliar features such as long-term fixed- rate deals, commonly for 15 to 30 years, the mortgage lender changing on a regular basis, fluctuations in the exchange rates and potential ‘hidden costs and expenses' which may create uncertainty and unwelcome additional costs for holiday homeowners.   BMA mortgages § British Mortgages Abroad offers British buyers a choice of familiar products: o Three fixed rate mortgages with the rate fixed for one, two or three years and all reverting to a flexible tracker rate on expiry of the fixed rate period. o A flexible tracker mortgage linked to the Bank of England base rate. § One of the most attractive features of the BMA mortgage is that the loan is secured on the US property rather than the buyer's home in the UK. § BMA loan terms are negotiable between five and 25 years, with loans of up to 80 per cent of the value of the property being bought or re-finance. § Anticipated rental income of up to 13 weeks from the holiday home is taken into account when determining the buyer's loan affordability. § The mortgage rates offered are competitive when compared with the dollar mortgages available to most UK buyers who, as ‘aliens' in the United States, do not have access to the most favourable loan rates. § BMA offers protection from exchange rate fluctuations in the time between offer of the loan and funding of the loan.   The key message to the over 14,000 existing British holiday home owners in Florida and any potential home owners, is that they have a choice of currency for their mortgage.  BMA mortgages are available only through specialist licensed mortgage brokers on both sides of the Atlantic.  Selected specialist mortgage brokers provide a hassle free support service from helping the buyer with the initial mortgage application right through to collating all the requisite paperwork and submitting the final application to BMA.   For more information visit the BMA website at http://www.britishmortgagesabroad.com/ or call 0800 096 5989 for Orlando or 0800 316 1677 (UK) or 1 888 785 3441 (US) for any area outside Orlando.    Celebrate the Season with Dixie Stampede   Everyone who experiences Christmas at Dixie falls in love with fun and excitement of the grand performances during their spectacular extravaganza! Nothing compares to the way they bring the holiday season to life.  It will truly warm your heart and touch your soul.  From the romance of softly falling snow to the breathtaking live nativity scene, the Dixie Stampede is magically transformed into a holiday fantasy with twinkling lights, evergreens, poinsettias, old fashioned holiday costumes and familiar holiday music.At the Dixie Stampede, the spirit of the season will appear before your very eyes.  Their live nativity scene is both dramatic and spectacular.  The true meaning of Christmas comes alive as the three kings riding atop camels on their way to Bethlehem.  The beauty of angels from above will amaze you.  The beauty of songs will inspire you. But no show is complete with out fun and games!  The holiday festivities get playful as elves from the North Pole and South Pole will compete in a friendly rivalry while serving up a festive four-course feast!  Cheering for your favorite Elves is all part of the excitement since the audience is always part of the show.  Be ready to stomp your feet and get loud!  That's all part of the thrill!  From amazing stunt riders and the ring of fire to live ostrich races, there is something for everyone at the Dixie Stampede!   And at the Dixie Stampede, you never know what will happen next.  Maybe you will be chosen to be part of the show...it's always exciting and full of surprises.  Plus, no holiday celebration would be complete without good ‘ole St. Nick.  Young and old alike, await the arrival of Santa atop his authentic sleigh full of goodies.The entire Dixie Stampede cast of performers, their 32 magnificent horses will take you on a nostalgic holiday trip with all of your favorite Christmas songs. Starting one hour before the main arena show, enjoy the best Christmas music and family entertainment in the Carriage Room.  It's an opening act you won't want to miss.  The Dixie Stampede Christmas Extravaganza runs from late October to early January.  The show books up fast, so purchase your tickets early for this fantastic event.  To purchase your tickets at discount with a low price guarantee, go to http://www.kgstickets.com/ or call 1-877-273-5636.       EVENTS FOR SEPTEMBER   FIESTA DI COQUI Fiesta El Zoologico will have live music, crafts and activities, demonstrations and much more celebrating the Hispanic culture. This year they will celebrate the endangered Puerto Rican Parrrot 9/15/2007 - 9/16/2007 Central Florida Zoo 3755 NW Highway 17-92 Sanford, FL 32747 407-323-4450 10 a.m. - 3 p.m. http://www.centralfloridazoo.org/   PINOCCHIO'S MARRIONETTE THEATER PRESENTS HANSEL & GRETEL In Spite of the Wacky Witch, two lost children find their way home again in this popular production featuring Teo-tapping to Heaven-Sent Music from the children's opera 9/15/2007-11/11/2007 Pinocchio's Marionette Theater 525 South Semoran Blvd Winter Park, Florida 32792 507-677-8831 http://www.pinocchios.net/     16TH-20TH CENTURY EUROPEAN & AMERICAN PAINTINGS 6/05/2007-12/31/2007 An exhibition which high-lights landscapes, genre scenes, portraits, and history paintings from the permanent collection The Cornell Fine Arts Museum 1000 Holt Ave Winter Park, Florida 32789 407-646-2526 http://www.rollins.edu/cfam   PUERTO RICAN ART: IMAGE OF A CULTURE 08/25/2007-10/28/2007 The exhibition will consist of 30-40 painting by notable Pureto Rican Artists of the past 60 years Orlando Museum of Art 2416 N Mills Ave Orlando Florida 32803 407-896-4231 http://www.omart.org/   LATIN SUNDAYS AT OLD TOWN Old Town, Kissimmee Every Sunday in September 2:00pm - 6:00pm FREE Enjoy some of the hottest Latin Bands in town performing live on the Main Stage. 407-396-4888 or www.old-town.com BEACH BASH SUNDAY Every Sunday in September   5:00 pm - 8:00 pm Beach Bash Sunday is a great way to wind down the weekends activities while enjoying the island sounds of reggae, steel drum and soca music. Bring a chair or blanket or just sit in the grass and enjoy the cool afternoon breezes off Cranes Roost Lake. Snacks and drinks will be available for purchase. http://www.uptownaltamonte.com/ CINEMA IN THE PARK Centennial Park located on Park Avenue at 4th Street (Sanford) Friday September 7th @ 8pm Bring your blanket and chairs, perhaps a picnic and enjoy a movie and free popcorn! DATE NIGHT AT LEU GARDENS Harry P. Leu Gardens Friday September 7th Garden opens at 6pm, movie starts at 8:30pm $5/person (garden members FREE) September movie is Notting Hill (1999) http://www.leugardens.org/ August Issue Money Corp Currency Update   Whether you are buying or selling a property in Florida, Moneycorp can save you money on your international currency transfers.    While high street banks are often the first port of call for foreign currency transactions, specialist currency dealers will normally offer superior rates of exchange, in addition to a more comprehensive range of services that will help protect you from adverse currency movements. With exchange rates constantly changing and fluctuations of as much as 10% in a short space of time not uncommon, using a currency specialist can make a huge difference to the amount of currency you receive.   There are several options open to you, such as fixing an exchange rate now for funds that you wish to transfer in the future. This means that you can take advantage of the exchange rate if it moves in your favor and you will be protected from an adverse currency movement. You can also request that your exchange broker watches the market for you in order to try and achieve a specific rate.   The use of these flexible market tools means that you can really make your money go further.   Currency Market Update:   Sterling at two Bucks? Huh, that's nothing. Having failed to make the break in April there was no messing around this time. The Pound crossed the divide in late June and never looked back. However much Secretary Paulson may wish to associate his policy with the tradition of Robert Rubin's 'strong Dollar', it is not happening. Six months ago the Dollar's main problem was the trade deficit. Now its millstone is the fading residential property market and the knock-on effects of the sub-prime mortgage fiasco. The official forecast from the Fed speaks of moderate growth. Investors reckon that growth will be so moderate that interest rates will have to come down. The only question is when. No salvation for the Dollar is showing on the radar yet. A correction is not out of the question but even that will require some more positive economic news than we are seeing at the moment.   Moneycorp special offer   All those clients who register with Moneycorp this month will receive a free privilege card. The Moneycorp Privilege Card entitles you to commission free currency at any of the TTT Moneycorp currency exchange bureaux. The Moneycorp Privilege Card also entitles the holder to commission free currency and a 1% improvement on advertised rates at 17 TTT Moneycorp branches (also situated in the Gatwick and Stansted airports).   To take advantage of this special offer or to find out more about Moneycorp's services call the Florida office on +1 321 559 1050 or email Jacqueline.Crimmins@moneycorp.com   Wind Mitigation   Recently, your friendly Florida Chartered Agents attended an FAIA (Florida Association of Insurance Agents) event to discuss the importance and existence of wind mitigation discounts. Have you ever been asked by one of our agents if you have a hip roof? Well, that is one of the ways we sure that you are getting all the discounts you are entitled to. Wind Mitigation discounts are reductions in your insurance premium due to building features that reduce damage during high wind events like hurricanes   In order to take advantages of the discounts, Vacation homeowners will need a licensed professional (general, residential or building contractor etc) to inspect their home to identify potential mitigation measures and legally verify improvements. ASI has provided Florida Chartered with a Universal Wind Mitigation form for your convenience. Once the form is filled, signed and dated by a licensed professional, ASI will apply the discounts. http://www.mysafefloridahome.com/ has provided a list of inspection firms that will perform the inspection for a $150 fee. Click here for the list.   Any Floridian who lives in a single-family, site-built home is eligible for a free wind inspection through the State. With a free wind inspection, Floridians will receive a detailed inspection report, learn how safe their homes are and know what they can do to strengthen their homes against hurricanes. Additionally, many Floridians are finding they are eligible for discounts on their wind insurance premiums-without making a single improvement!     Here are some examples of Wind Mitigation Discounts, do you qualify?   Hip Roof             A Roof that slopes upward from all sides of the building. A Hip roof provides 40% less uplift pressure during Hurricane force winds     Opening Protection Openings are windows, skylights sliding glass/garage doors Impact resistant Coverings i.e., Shutters and Impact Resistant Glazed Windows, Skylights etc. Must be Hurricane or Basic Rated Shutters for discount   Roof Covering             Shingles, Tile and Metal Panels             Must have been tested, approved and installed per the 2001 Florida Building Code   Call your Agent today for your Universal Wind Mitigation Form. Ask how you can save more money, and keep your home safe from the elements. Attraction & Distractions- Arabian Nights Dinner and Show    Located in Lake Buena Vista Area, Arabian Nights Dinner shows tells the love story of Princess Scherazad and Prince Khalid, but the real stars of the show are the 7 breeds of horses used in the show including the Legendary Black stallion.  The 22-act show is performed on horseback as human riders' stunt and flip on these magnificent animals. As guests of the Princess's wedding, Guests are treated to a meal consisting of salad and your choice of 5 entrees unlimited beer, wine and Pepsi products. Not exactly a meal fit for a king, but one must look at the experience overall. This is definitely one that the kids will love, I lost count of dropped jaws in the audience as the horses and their riders performed stunt after stunt. Its amazing what a horse will do for a carrot!   The Arabian Nights Dinner show is the brainchild of Mark and Galen Miller. Mark Miller grew up on an Arabian horse farm and there is love for horses began. Arabian Nights debuted in February of 1988 and has remained a close knit family business ever since.   Guests can make reservations online at www.arabian-nights.com. Receive $10 off the price of admission by booking online. A new addition to the Arabian Nights experience is the VIP upgrade. Guests enjoy a tour of the stables prior to the show and meet the horses and performers including the Legendary Walter Farley Black Stallion.   Arabian Nights 3081 Arabian Nights Blvd Kissimmee, Florida 34747 reservations@arabian-nights.com Call Toll-free 1-800-553-6116 Events for August   Virgin Megastore Downtown Disney (Map It) 1494 Buena Vista Drive, Lake Buena Vista, FL All you armchair athletes come test your skills at the new Madden NFL game for a chance to win the $1,000 grand prize. All those hours of practice can finally pay off. Sign ups start August 3rd and continue until 5 p.m. on August 14th.   Tampa Bay Bucs Training Camp Disney's Wide World of Sports Complex 8669 Commodity Circle Lake Buena Vista, FL 407-828-3267   Hey, Bucks fans! Come watch the boys from Tampa Bay get ready for the upcoming NFL season and show your support as they workout and run drills in the hot Florida sun while you sip icy cold beverages from the sidelines   Aug. 4: 8:30 a.m. - 10:45 a.m.   Aug. 5: 8:30 a.m. - 10:45 a.m.   2:45 p.m. - 5 p.m.   Aug. 6: 8:30 a.m. - 10:45 a.m.   2:45 p.m. - 3:55 p.m.   Aug. 7: 8:30 a.m. - 10:45 a.m.   2:45 p.m. - 4:45 p.m.   Aug. 8: 8:30 a.m. - 10:45 a.m.   2:45 p.m. - 4:45 p.m.   Aug. 9: 10:15 a.m. - 1:15 p.m.     Streetmosphere Eddie Rose Amphitheater - Uptown Altamonte Thursday August 2nd, 9th, 16th, 23rd, 30th 7pm-10pm Strolling entertainers will perform throughout the park for your enjoyment. Come back weekly to see what new and unique activities take place. http://www.uptownaltamonte.com/     7th Annual Florida Outdoor Sculpture Competition Downtown Lakeland Lemon Street Promenade Lakeland, FL 33801 863-688-7743 http://www.polkmuseumofart.org/ July Issue NEWS FROM THE FLORIDA OFFICE OF INSURANCE REGULATION   "We learned several lessons from the 2004-2005 hurricane seasons,' Commissioner McCarty said. "One of those lessons was that many people were unaware that flood damage is not covered by homeowners' policies. Buying flood insurance is easy, affordable, and provides an extra layer of security in the event of a catastrophic event." During the aftermath of Hurricane Katrina, one research report cited up to 80% of properties damaged in Mississippi and 60% of properties in low-lying New Orleans did not have flood coverage. This also spawned litigation, whether specific damage was caused by hurricane force-winds or the accompanying storm surge. Some litigation in the Gulf coast states is still pending. "In Florida nearly one-third of Florida's homes do have flood insurance, but that still leaves two-thirds of families without this coverage. Even people outside of the flood zones should consider obtaining coverage," McCarty adds. A Rand Corporation study showed one-third of all floods occurred outside standard flood hazard areas; however, only one percent of people outside the flood plains buy insurance. Florida consumers can purchase flood insurance for up to $250,000 in property damage, and $100,000 for personal contents. Most flood insurance policies may cost less than $1,000 a year in the flood zone and less than $200 a year outside the flood zone depending on the coverage selected. Information about the National Flood Insurance Program can be found at the Federal Emergency Management Agency's website at: http://www.fema.gov/nfip. In addition, consumers can check their relative flood risk by visiting http://www.floodsmart.gov/ and entering specific property information. The tool provides consumers with the relative flood risk of a property and links to flood insurance resources. Local Events for July   RED HOT & BOOM- Music, food, and fireworks: 4 p.m. Tuesday; Cranes Roost Park, Altamonte Springs Drive, Altamonte Springs; free; 407-571-8863. OLDE FASHIONED 4TH OF JULY CELEBRATION - wagon rides, hot dog eating contest, and music: 9 a.m. Wednesday; Central Park Stage, Park Avenue, Winter Park; free; 407-599-3463. 4TH OF JULY CELEBRATION - wife carrying race, baby pageant, and music by Kenyon Lockry and others: 10a.m. Wednesday; St. Cloud Lakefront, Lakeshore Blvd., St. Cloud; free; 407-892-3671. 4TH OF JULY BLOCK PARTY - music by Mike Dunn and the Kings of New England: 11 a.m. Wednesday; Wall Street Plaza, 25 Wall St., Orlando; no cover (age 21 and older); 407-849-0471. 4TH OF JULY CELEBRATION - games and fireworks: 2 p.m. Wednesday; Oviedo Gymnasium and Aquatic Facility, 148 Division St., Oviedo; $5-$10;407-971-5571. CELEBRATION OF FREEDOM - music, vendors, and fireworks: 4 p.m. Wednesday; Central Winds Park, 1000E. State Road 434, Winter Springs; free; 407-327-6593. 4TH OF JULY CONCERT- fireworks and music by The Original Drifters and others: 4 p.m. Wednesday; Daytona Beach Bandshell, 200-300 N. Atlantic Ave., Daytona Beach; free; 386-671-3421. FIREWORKS AT THE FOUNTAIN - live entertainment and demonstrations:4 p.m. July 4 (fireworks begin at 9:15 p.m.); Lake Eola Park, 1 N. Rosalind Ave., Orlando; free; 407-246-3104. SANFORD'S 4TH OF JULY CELEBRATION- food, vendors, and music by Starship: 5 p.m. Wednesday; Fort Mellon Park, 500 E. 1st St., Sanford; free; 407-330-5697. INDEPENDENCE DAY CELEBRATION- fireworks and music from Justin Guarini, Anthony Fedorov, and Melissa McGhee: 6:30 p.m. Wednesday; Silver Springs, 5656 Silver Springs Blvd., Ocala; included with park admission; 352-236-2121. BREVARD SYMPHONY ORCHESTRA- concert with fire works: 8 p.m. Wednesday; Riverfront Park, 603 Brevard Ave., The Cocoa Village, Cocoa; free; 321-242-2024. 4TH OF JULY CELEBRATION- BBQ and Footlight Players production: 10:30 p.m. Wednesday; Parliament House Resort and Entertainment Complex,410 N. Orange Blossom Trail, Orlando; no cover (age 21 and older); 407-425-7571. What will you be doing this July 4? Tell us at feedback@floridachartered.com Kissimmee Guest Services Presents- Universal's Blue Man Group!   Universal Orlando opens BLUE MAN GROUP.  The performance features three enigmatic bald and blue characters who take the audience through a multi media sensory experience that combines theatre, percussion, music, art, science and vaudeville into a form of entertainment that is like nothing else.  This show will definitely compete with Disney's Cirque Du Soleil to be the best show in Central Florida.  To purchase Blue Man Group or Cirque Du Soleil tickets call Kissimmee Guest Services at 1-877-273-5636 or order online at http://www.kgstickets.com/.  Mention you are a Florida Charter Insurance Group member and receive a free gift bag. Make your money go further in the sunshine state! Whether you are buying or selling a property in Florida, Moneycorp can save you money on your international currency transfers.  While high street banks are often the first port of call for foreign currency transactions, specialist currency dealers will normally offer superior rates of exchange, in addition to a more comprehensive range of services that will help protect you from adverse currency movements. With exchange rates constantly changing and fluctuations of as much as 10% in a short space of time not uncommon, using a currency specialist can make a huge difference to the amount of currency you receive. Moneycorp will also give you access to free information and guidance on the currency markets, which will help you to decide when the best time to transfer your currency might be.    There are several options open to you, such as fixing an exchange rate now for funds that you wish to transfer in the future. This means that you can take advantage of the exchange rate if it moves in your favour and you will be protected from an adverse currency movement. You can also request that your exchange broker watches the market for you in order to try and achieve a specific rate. The use of these flexible market tools, means that you can really make your money go further. Currency Market Update: The US had some positive data recently in the form of New Homes. Sales surged higher by 16.2%, well above expectations and the highest for 14 years. This certainly stopped the USD rout in its tracks but the pound has managed to stay relatively steady since the news hit the wires. This news is what USD buyers should be wary of as it reduces the chances for interest rate cuts in the US and makes the road back to $2 that much more rocky. In fact a new gang on the block is even calling for a sharp fall towards $1.85 during the second half of the year. Even so, with interest rates in the UK, we may yet see another run at the high $1.9/2 levels, however buyers of the Dollar should nevertheless exercise caution by covering some of their requirement now. Moneycorp special offer All those clients who register with Moneycorp this month will receive a free privilege card. The Moneycorp Privilege Card entitles you to commission free currency at any of the TTT Moneycorp currency exchange bureaux. The Moneycorp Privilege Card also entitles the holder to commission free currency and a 1% improvement on advertised rates at 17 TTT Moneycorp branches (also situated in the Gatwick and Stansted airports). To take advantage of this special offer or to find out more about Moneycorp's services call the Florida office on +1 321 559 1050 or email Jacqueline.Crimmins@moneycorp.com Real Estate Report by Robert Anarumo of Coldwell Banker     Available home inventory:  at a record high of 25,463 homes or a 16 month inventory of homes for sale.   Home sales closed remained even at 1,550 for the month. As you can see sales have not improved but inventory is still climbing.   Other things that I believe will impact the real estate market short term: Tourism will be good through the end of August which will bring many people to the Central Florida area and many will purchase homes. I expect the dollar to remain weak against the Pound Sterling and the Euro providing excellent value for our European friends. I believe the USA, UK, and the European Union could raise interest rates slightly before the end of the year.  This will further strain the primary resident market. The property tax cut proposed for Florida will be a "DUD" for 2007 but may help the primary resident market in 2008 if the new primary resident referendum gets passed in January by the Florida voters which would help the primary resident market in 2008. Home foreclosures continue to increase. Lower home prices will mean higher activity for well priced homes. My longer term view of the market through 2009: Prices will stabilize through 2008 and 2009. Continued growth in home prices in 2009 driven by vacation homes and primary residence homes will begin an upward price trend. Migration to Florida continues to proceed at 1,100+ per day. What should I do if I was a buyer or seller in today's market?   Seller: Re-evaluate the list price of your home and price it to sell while the vacation market is strong in June, July, and August. Ask your Realtor for an updated market analysis to determine price to sell. Stage your home so that it is in the best condition to sell. Buyer: Buy now as there is a lot of choice in homes Prices are low providing an excellent opportunity to "scoop" a great deal! I believe the best advice I can provide if you are in the process of buying or selling a property is to call me and let me transact your next real estate deal!!! Robert Anarumo Coldwell Banker Team Realty 116 Polo Park East Blvd Davenport, FL 33897 (863) 420 4377 Direct (863) 557 4543 Cell (863) 420 3104 Fax robertanarumo@yahoo.com www.floridapremiervacationhomes.com June Issue Real Estate Corner with Coldwell Banker   The Central Florida Real Estate Market was driven by the following: Historically low interest rates allowed for "cheap money" for investors to buy property. The shortage of new home inventory caused home prices to increase to the point of making new home "flips" an investment vehicle. "Cheap" money made home buying easy for residential new home buyers to purchase new homes. Introductory low interest rates with "negative amortizing loans" came in vogue further allowing buyers to purchase a home with very little monthly carrying costs. Banks got involved by making "sub-prime" loans available to higher risk home buyers. "Everyone became a "real estate investor" and were buying properties sight unseen to participate in the "real estate boon!" The dollar weakened because of the low interest rates and further attracted European investors. Investment return "expection" became unrealistic and further drove property prices higher. Interest rates started to climb making real estate less affordable. Banks started paying a higher rate of interest for investors thus competing with real estate as an investment. Residential property taxes increased, (almost doubled) because the local governments reassessed property values to reflect current values making real estate returns go negative. Insurance rates in Florida doubled due to Insurance company losses for the Hurricanes further driving returns for real estate negative. Demand started slowing for property and resale housing inventories started to climb. Buyers started to cancel their new home contracts with builders further adding housing inventory to the market. Due to the slowing demand for housing property values stopped increasing in value and further slowed demand for housing. With the higher monthly carrying costs and the slow down in demand for housing buyers starting to lower their price to sell their investment homes. As the slowdown in home sales continued buyers that could not or did not want to pay these losses started to default on their mortgages driving down prices farther. Buyer defaults with builders escalated and the new home market ended up with a glut of homes. Variable rate mortgages started to adjust higher to their normal interest rate and primary home owners and investors started to default on loans driving foreclosure rates to the highest rate in recent history in Florida.  Presently 1 home out of every 510 households in the state of Florida is in some state of foreclosure.  Foreclosures are up 72% from last year. So what should we expect in the future?     The US government will indeed implement stop gap measures to curb the tide of foreclosures I believe the US economy will slow, retail sales are already slowing. Because energy and food is not included in the core inflation numbers I believe inflation will remain within an acceptable range. With a Presidential election in the US coming in 18 months and the economy slowing the White house will place an incredible amount of pressure on the Federal Reserve for lower interest rates. Governor Christ of Florida will reduce property taxes in 2007 and give homeowners some relief.  It will not be what everyone whats but it will be a reduction. Net migration to Florida will remain a robust 1,100+ people per day. Tourism will continue to be stong throughout 2007. Banks will come up with new loan programs to get buyers into homes. The dollar will continue to weaken against the Euro and the Pound Sterling providing a buying opportunity for Europeans in Florida. Interest rates will continue to increase in England and there is a strong possibility increase in the Euro Zone if the economies of Germany, France, and Ireland continue their torrid pace. Home prices will moderate and stabilize by year end. Foreclosure properties will continue to be a big issue in Florida. Home inventory will begin to shrink by year end as new home builders inventory will be almost depleted and they will only build what is ordered.  Resale home inventory will begin to shrink as buyers will grab the really good deals out there as new loan programs become available and sellers that have been trying to sell for a long time give up and sell at a reduced price. 2008 we will begin our recovery in the 2nd half of the year.  The recovery will be slow to moderate. What should I do if I am a seller in the current real estate market?     Price your home at or slightly below competing homes in your neighborhood. Make your home as presentable as possible, fresh paint, green grass, trimmed hedges, remove clutter in your home, etc. Be flexible in your terms. Sell now or plan on waiting a year for the market to improve. Be creative in your sales approach. Find ways to differentiate your home from the competition. Hire a professional to sell your home. What should I do if I am a buyer?   If you need or want a home, now is a great time to buy! Buy with a 5 to 7 year anticipated hold period for the property. Don't be afraid to negotiate for the best deal. Use a Realtor for new construction homes as they are in tune with builder special promotions. Let your Realtor suggest a mortgage broker with a loan program that will address your specific needs.    Robert Anarumo Coldwell Banker Team Realty 116 Polo Park East Blvd Davenport, FL 33897 (863) 420 4377 Direct (863) 557 4543 Cell (863) 420 3104 Fax robertanarumo@yahoo.com www.floridapremiervacationhomes.com   What's Current with Currency- Money Corp Brought to you by  While high street banks are often the first port of call for foreign currency transactions, specialist currency dealers will normally offer superior rates of exchange, in addition to a more comprehensive range of services that will help protect you from adverse currency movements. With exchange rates constantly changing and fluctuations of as much as 10% in a short space of time not uncommon, using a currency specialist can make a huge difference to the amount of currency you receive. Moneycorp will also give you access to free information and guidance on the currency markets, which will help you to decide when the best time to transfer your currency might be.    There are several options open to you, such as fixing an exchange rate now for funds that you wish to transfer in the future. This means that you can take advantage of the exchange rate if it moves in your favour and you will be protected from an adverse currency movement. You can also request that your exchange broker watches the market for you in order to try and achieve a specific rate. The use of these flexible market tools, means that you can really make your money go further.  Currency Market Update:  The US had some positive data recently in the form of New Homes. Sales surged higher by 16.2%, well above expectations and the highest for 14 years. This certainly stopped the USD rout in its tracks but the pound has managed to stay relatively steady since the news hit the wires. This news is what USD buyers should be wary of as it reduces the chances for interest rate cuts in the US and makes the road back to $2 that much more rocky. In fact a new gang on the block is even calling for a sharp fall towards $1.85 during the second half of the year. Even so, with interest rates in the UK, we may yet see another run at the high $1.9/2 levels, however buyers of the Dollar should nevertheless exercise caution by covering some of their requirement now.    Moneycorp special offer  All those clients who register with Moneycorp this month will receive a free privilege card. The Moneycorp Privilege Card entitles you to commission free currency at any of the TTT Moneycorp currency exchange bureaux. The Moneycorp Privilege Card also entitles the holder to commission free currency and a 1% improvement on advertised rates at 17 TTT Moneycorp branches (also situated in the Gatwick and Stansted airports).  To take advantage of this special offer or to find out more about Moneycorp’s services call the Florida office on +1 321 559 1050 or email Jacqueline.Crimmins@moneycorp.com