Florida Agenda Home Edition

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APRIL 21, 2011 FLORIDAAGENDA.COMHome

The numbers over the last yearand a half paint a stark picture ofSouth Florida’s real estate mar-ket, which bottomed out inOctober of 2009. As is inevitablythe case, however, “what comesdown must go back up.” Lower-end price point properties thatsold for $40,000 to$50,000 last sum-mer are now seeinghealthy increases to$70,000 and$80,000.

I have been liv-ing is South Floridafor over 20 years,and have been sell-ing real estate for adozen of those. It’s been a truismin real estate that once the bottomof the market starts climbing withprice point increases, the middleand higher end markets will fol-low. What had been an anemicmarket has begun to show signsof life. Presently we have loweredour inventory of homes and con-dos to half of what they were from2009. There are many Federaland local government programsthat allow assistance and incen-tives to motivate people to buy.

One example is the "HomePath Program" that allows a con-sumer to buy a home with as littleas 3% down. On top of the assis-tance programs, we are also see-ing historically low interest rates,hovering at just over 5%. Themarket has finally become afford-able for many consumers. (Byway of comparison, I rememberwhen I bought my first home inPortland, Maine in the early1980s, I paid 16.50%. To quote afamiliar phrase, “We’ve come along way, baby.”)

When we review this past sea-son of sales, I am sure we will seethat the "snow birds" took advan-tage of lower price points andamazing interest rates. It’s safe tosay that most consumers wouldrather pay about half of what

prices were just 6 years ago. Withover 60 million "Baby Boomers"retiring, who wouldn't want theirown piece of the South Floridasunshine? My motto, "Your LifePartner In Real Estate" is morethan a catch-phrase: it is a watchword of my business and the pro-

fessional relation-ships I have devel-oped through theyears. Most of myclients have becomemy friends and I sin-cerely believe thatfinding someone ahome is more thanjust selling a house.Put me to the test;

you will be happy you did.A native of Boston,

Massachusetts. Robert GearyMacKilligan works with GalleriaInternational Realty, on FortLauderdale’s Las Olas Blvd. ABank Certified Specialist, heworks directly with BrowardCountry banks to help buyers owntheir piece of South Florida’s fore-closure inventory, as well as withinvestors from all over the world.MacKilligan also serves as salesdirector on a number of develop-ment projects, including locationsin Fort Lauderdale, Jacksonville,and New Smyrna Beach, Florida.

MacKilligan has experienceworking with investors, contrac-tors and building professions onprojects from start to finish.Working with an internationalresearch statistical company, hefollows real estate trends through-out the world, employing strate-gies that are invaluable wheninvestors are looking to sell prop-erties they own overseas.

Robert Geary MacKilligan,“Your Life Partner In RealEstate.” Cell: 954-234-8759 [email protected].

Your Life Partnerin Real Estate


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Homebuyers / Homeowners:

Do you find yourself house hunting andimagining what you’d do if only you hadenough money to purchase a home and thenmake improvements without draining yourhard-earned saving?

Turn that fixer-upper into your one-and-only dream home with our unique, all-in-one Purchase & RenovateSM loan. It providesthe money you need to buy a home and toimprove it – all with one application, one closing, and one monthly payment. You’ll enjoybenefits at every step:

• More money. The loan is based on thehome’s value after improvements.

• Lower payments. The cost of improve-ments is spread out over the term of the loan.

• Tax benefits. The interest on renovationsmay be tax deductible.

• Freedom of choice. Make whateverimprovements you want – from practical toluxurious.

Realtors:

Dated inventory? Listings that need somework? Our Purchase & RenovateSM programscan help make properties more marketableand help you increase sales – with a stream-lined loan process for your buyers.

• Increase your buyer base• Overcome the challenges of selling a

home with needed repairs• You focus on selling; we'll oversee the

renovation financing with a variety of renova-tion programs we can help you position olderhomes, short sales, fixer-uppers, rehabs andforeclosures – there are options for propertiesin virtually any condition.

Need help to save a closing? Inspectionuncovers a water leak? Replace a roof? AStreamline 203(K) loan may be the answer.Have a growing family wanting a biggerhouse? Could the home use some energy saving improvements? The FHA 203(K) pro-

gram can help address these needs. Have abuyer looking for an investment property?Foundation crumbling? Our conventional conforming renovation financing program may

be the answer for this and more! r

Todd Fogel Wells Fargo Home MortgageRenovation Loan [email protected] 954-229-1108c 954-868-7015

Firm Up, Fix Up, Freshen Up –From the Ground Up!Home Renovation Financing Programs


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Feeling confusedabout real estate today?You’re not alone … thereis such negativity and somany conflicting perspec-tives that it’s hard to seethe good news.

So, what is the “good”news? My favorite example of news that got“lost” somehow is from2005. CNN/Money pub-lished a real estate report on U.S. zipcodes. Would you believe a large area of Fort Lauderdale andWilton Manors ranked number onein the entire country for the fastestappreciation? The importance of thatnews is because history repeatsitself. The same areas will appreci-ate again for the same reasons theydid in 2005.

In 2010, CNBC.com announcedthe City of Fort Lauderdale rankednumber one in the United States for“buyer interest and demand.” I readall the local newspapers to see if Icould find this news and wasintrigued to find it was nowhere to beseen. Positive news seems to getlost and gloom and doom easy tofind. This contributes to confusion in one of the most exciting realestate markets I have ever seen.Did the market drop since that reportin 2005? Yes, a lot. Will it go backup? Of course it will. But, first it has to stabilize. In my opinion, it isstabilizing right now.

This month, the Sun-Sentinelreported ten zip codes in BrowardCounty experienced price increaseswhen compared to last year. InFebruary, traffic to real estate web-sites jumped 27% and sales of single family homes and condos inFlorida were up 13% from 2010.Fort Lauderdale Beach is about toundergo a multi-million dollar faceliftto transform the area west of AIA toupscale hotels, restaurants andshops. Do these numbers or infor-mation mean sellers should increasetheir prices? Not unless they happento be selling in one of those 10 zipcodes or in very select parts ofBroward County.

What does it mean? It means weshould avoid negativity, realize we

are in a good place, make plans, andmove forward with solid strategies.The recovery may be slow but thegood news is that we are recoveringnow.

Meanwhile, many people are in distressed personal situations, facing foreclosure, need to short selltheir properties or considering bank-ruptcy. This is serious, and why theprice recovery will be slow. Althoughnot pleasant for anyone who needsor want to sell, there are manyoptions, programs, and strategicways to solve these challenges. Itruly believe a solid plan and expertadvice can turn around many of thereal estate problems people areexperiencing so they can still benefitfrom the low prices.

Stigma and misinformation aboutshort selling properties and bank-ruptcy seems common and is harm-ful. Please consult a Realtor® withthe training and experience neededto provide you accurate information,your options and opportunities tohelp. Real estate is more highly specialized than ever, so pleasemake sure you are in good handsand take action to find solutions toyour problems.

We hear “now is a great time tobuy” over and over. It’s because it istrue. Consider the people who donot own any real estate and that inmany cases it costs less to buy ahome than rent. They may not evenbe aware of their options. Loan programs such as HomePath andFHA financing are so affordable thatassuming someone cannot own ahome without trying may be a mistake.

The most fortunate right now areinvestors and, at some level, all of usin real estate could think of our-

selves as investors. Theopportunities to buy,improve and rent proper-ties out for cash flow, tax benefits and futureresale are incredible. The impact of this gentrification supports theentire market’s recovery.Past standards for returnon investment (ROI) arebeing exceeded dramati-

cally due to low prices and increas-ing rents. If you are in a position toinvest in real estate right now youare fortunate and might consider itcarefully. Don’t wait for it to get better.

On the selling side of things,there are many of us who own properties worth much less thanwhat we owe on them. It can also bea “great time to sell” if you reduceyour debt and buy something elseyou like more and which is moreaffordable. For a limited time, thereare tax benefits, federal assistanceprograms (HAFA, etc.) and cash atclosing for short sellers. I recom-mend anyone considering short sell-ing meet with a Certified DistressedProperty Expert (CDPE) before list-ing their property. Sellers who arenot upside down and do not havemortgages can consider renting theircurrent property out, selling it orleveraging it to use this buying window of opportunity to upgrade,down-size or purchase investmentproperty.

Some of you can afford to makepayments but will be eighty-years-old by the time your properties breakeven, so may decide not to pay yourmortgage and short sell or allowforeclosure. This is called “strategicdefault.” Some consider it unethical,but my position is to leave it to thebusiness of the property owner andlender and not for me to decide.

In any case, there are manyopportunities and many solutions toproblems. I only ask that people con-sider there is hope and are solutionsout there. There is a lot of goodnews and there are a lot of peoplewho care. r

Good News About Real Estate By Rick Gibson


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City County Credit Union is proud tobe a part of the Wilton Manors commu-nity. They are a financial institutionwith a difference. As a not-for-profitcooperative, they are owned by theirmembers (customers) and pride them-selves on offering high levels of serv-ice and top value products to theirowners.

CCCU often says that they makethe lives of members better with a vari-ety of financial products to suit theirneeds at every life stage. The creditunion offers personal loans as well ascredit cards, and loans for vehiclesand homes. They also make availabledeposit products to help membersreach their savings goals, and check-ing accounts with no per check fees.Easy access to accounts is only a callor click away through their large CallCenter, online banking from any com-puter and a 24-hour ATM network. Toensure greater geographical cover-age, CCCU offers “shared facilities” –branches at other credit unions wheremembers can make transactions.These shared facilities number morethan 250 in the state of Florida and4,000 nationwide.

To South Floridians, a personal

vehicle is a necessity. And new mem-bers of CCCU are always delighted tolearn about AutoBranch, the dealer-ship that serves credit union membersand provides a worry-free car shop-ping experience. AutoBranch promisesbuyers of its pre-owned vehicles, a 7-day/1,000 mile money back guaran-tee, a 100-day/3,000 mile limited warranty, and excellent pricing.

City County Credit Union is federal-ly insured by the National Credit UnionAdministration (NCUA), an agency ofthe Federal Government. CCCU hasserved Broward County since 1952and the Wilton Manors area since2009. In Wilton Manors, the creditunion is active and visible in the com-munity, participating in several organi-zations and events, including PrideFest, the Stonewall Festival and PrideCenter at Equality Park. They are alsomembers of the Rainbow BusinessCoalition (RBC), and provide financialeducation sessions at Fusion on 9thAvenue.

Visit the credit union’s website atwww.CityCountyCU.org. Or stop bythe Shoppes of Wilton Manors branchand ask for Gary Yamnitz, the Branch

Manager, or call 954-745-2400. r

City County Credit Union: It May Be Timeto Spring Clean Your Finance Needs


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MARCH 31, 2011Home


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APRIL 21, 2011Home

By Jesse Durko

It’s the time of year wheneverything begins to pop inthe garden as it responds tothe warmer weather. Now isa good time to fertilize plantsin the garden, as well as thetime to prune anything thatwas damaged by theWinter’s cold. We will alsoneed to replace the beds ofannuals planted for coolseason with warm, lovingvarieties. I personally avoidthis project by plantingperennial plants that don’trequire replacing year afteryear.

Our nursery featuresplants that are user friendly,and sustainable with mini-mum attention. We promotewise water managementwith an outstanding collec-tion of unusual plants fromaround the world, as well as

an extensive collection ofnative trees, shrubs, andflowers.

One plant that takes center stage now is the rose,but not just any rose willgrow in Florida. We featureAntique roses, and thename alone tells you thatthey have been around awhile. Our nursery is anorganic garden – we don’tuse pesticides or fungicides.As a result, we keep Antiqueroses as they are happy andthrive in our climate, requir-ing the least amount of fussand no chemicals.

Jesse Durko was formerlythe director of FlamingoGardens Botanical Garden.Jesse Durko’s Nurseryopened in 1990. The ten-acre property featuresunusual plants collected during Jesse’s numeroustravels across the world. The

extensive collection featuresflowers, shrubs, aroids, heliconias, gingers, bromeli-ads, palms, bamboo,orchids, and flowering trees.The collection is aesthetical-ly arranged and displayedthroughout the grounds, andmost plants are for sale inthe nursery. The nursery isopen 7 days a week from 8 a.m. to 4:30 p.m.

Jesse Durko’s Nursery -5151 SW 70th Ave, Davie,FL. Directions: From I-95 orthe Florida Turnpike, gowest on Griffin Road to VieleRoad (SW 70 Ave). Make aleft and travel south one-halfmile. From University Driveor I-75 travel east to VieleRoad (on the right), and gosouth. The entrance is clearly marked on the right

with a sign. r

Not Many April Showers, But Plenty of Spring Flowers


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