Bok Tower turns 80!

One of Polk County’s great historic landmarks, Bok Tower Gardens, will celebrate its 80th birthday on January 31st. To recognize the occasion, the National Historic Landmark will offer free admission on that day. Bok Tower was dedicated in 1929 from the Pulitzer Prize-winning author, Edward Bok. The theme of this event is “Sharing the Gift.” One of the Gardens’ most popular events, Crossing the Moat, allows visitors to walk across the moat that surrounds the tower. There will also be live music at this event. There will be carillon concerts at 1 & 3 pm and Japanese drummers will perform at 10:30 am. Other activities include: free tours of Pinewood Estate, greenhouse & nursery, family tree planting event, & a hot air balloon ride from the folks at Fantasy of Flight.

December Real Estate Sales for Polk County

The month of December proved to be a nice rebound month in terms of sales in Polk County. In Lakeland, 140 properties sold compared to 114 in November. The Average list price was $149,748 down from $161,976. The average sales price was $140,039, down from $149,269 last month. The average days on market fell from 114 days to 106. The months of inventory dropped to 19 from 26 the previous month. The two price ranges that saw the most activity were $140,000 – $159,999 (which accounted for nearly 19%) and $120,000 – 139,999 (14%).

In East Polk there were 130 homes closing versus the 99 closings in the prior year period as well as 103 in November 2008. The average list price dropped to $128,428 from $136,676 last month while the average sale priced dropped to $119,620 from $125,163 last month. Days on the market increased to 119 from 112 last month and the months of inventory decreased to 15.44 from 20.24 in November. For East Polk, the $120,000 to $139,999 price range represented 13.85% of sales while the price range of $140,000 – $159,999 was in second place with 11.54% of sales.

Downpayment Clarification from Realtor.com

I can across these facts on realtor.com and I found them very interesting. It seems like there is some confusion when it comes to the required size of a downpayment to buy a home. Here are the facts as stated by Realtor.com

The facts:

1. An individual may be required to put down 20 percent based on that person’s financial situation. But that is not an across-the-board requirement for all borrowers.
2. A borrower who puts down less than 20 percent is required to obtain mortgage insurance.
3. Even in a declining market, a borrower is required to make at least a 5 or 10 percent down payment.
4. FHA requires a 3.5 percent down payment by borrowers, so long as they meet a 31 percent housing cost-to-income ratio. In other words, anyone who stays within their budget and who can afford a 3.5 percent down payment (even with family help) can become a homeowner.

To read more go to http://www.realtor.org/press_room/news_releases/2008/advisory_downpayment_clarification

Get Smart about your money in 2009

SmartAboutMoney.org in a nonprofit foundation – run by the National Endowment for Financial Education. Their website helps visitors plan their household budget, examine their debt, and shop smarter. It also offers a quiz to help users assess their financial situation. They are committed to educating Americans on a broad range of financial topics and empowering them to make positive and sound decisions to reach their financial goals.

Here is the campaign they are running: The national financial literacy campaign is a large-scale public awareness effort aimed at motivating Americans to get smart about their money. The campaign, sponsored by the National Endowment for Financial Education® (NEFE®), encourages Americans to start achieving their financial goals today by accessing practical information on the smartaboutmoney.org Web site.