Just a factoid for you: One third of all home sales in the first quarter of this year were foreclosures, to be exact 232,959 homes. That is 14% lower that the same period last year. What does this mean? I'm not sure, but I have a feeling it's going to get worse before it gets better. If you are thinking about buying a foreclosed house this may be good because the average foreclosure sells for about 17% below market value. If you are in the market to sell you home you see the competition from the banks with their foreclosed inventory. It not a rosy story, but it will get better.

As I said in my entry earlier this week it looked as if the extension for the First Time home buyers would be extended. Here is a quote form the Florida Realtors I received this morning.

Homebuyer tax credit
The Senate passed HR 5623, which extends the mandatory closing date to qualify for the homebuyer tax credit. The contract deadline does not change - homebuyers must have a contract signed by April 30, 2010 (an exception for active duty military) - but the previous closing deadline of June 30, 2010, has been extended to Sept. 30, 2010. The National Association of Realtors estimates that the approved bill will benefit more than 14,000 deals in Florida.

I have some good news for all First Time Home Buyers who are stuck in slow going escrows that may not be able to close by the June 30, 2010 deadline; you may be relieved to know the Senate just approved an extension of the June deadline. The measure is in committee and should be out for passage by the house.
Once the House and Senate reconcile and pass the same bill, you will be able to close anytime before September 30, 2010 to receive your $8,000 Tax Credit.

I hope those who are in this position today will benefit from the extension.

I wanted to pass along that there is an organization called the Senior Citizen League who have been sending out a warning that there will not be a Social Security cost-of-living (COLA) for 2010. This is a fact, the Obama administration has announced there will be no COLA for 2010 and might not be a COLA for 2011 and 2012 as well. This group is soliciting donations to be a lobby for senior citizens. This group has not contacted any one in Congress, so I feel this group is just looking for your money and is not an effective lobby. The source of this data is Congresswoman Ginny Brown-Waite, Fifth Congressional District. I would also recommend you contact her about any matters effecting your benefits. Remember there is always people out there looking to make a buck anyway they can. Don't be a victim.

I don't know if you saw the Chronicle article the other day which quote Coastal Living magazine's top ten spots for snorkeling. Crystal River was the number three spot behind only the Bahamas Dean's Blue Hole and Buck Island, St Croix U.S. Virgin Islands. This really gives our county a something to boast about. Part of the big draw was the possible encounters with the West Indian Manatee.
Hope you are all enjoying a great summer and have had a chance for some vacation time.