Last week, the Federal Reserve announced that it would buy $500 billion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity for the week — even with the Thanksgiving holiday.

"Pretty much everything we looked at was sold before we could get there,” Ron Canterbury said by phone Tuesday.

Deep Sailboat Water Canal with Dock!

November 25, 2008

A hard freeze crippled the credit market in September, leaving borrowers scrambling for mortgages.  But with the huge moves that the federal government has made to encourage banks to make loans, mortgage lending has thawed in recent weeks.

Voters approved a historic property tax cut earlier this year, deepening the benefits for long-time homeowners by making permanent their tax advantage over businesses, first-time homebuyers and part-time residents.The Amendment 1 passage, with well over the necessary 60 percent of votes, also marks a huge political victory for Gov. Charlie Crist, who campaigned in 2006 on the promise to increase the homestead exemption and allow residents to keep their accrued Save Our Homes tax break if they move.  We have found that many people still have a lot of questions about what this means and how, exactly, it works.  We have found a helpful document with answers to many of your questions about Homestead Portability. 

Sensational panoramic views of Sarasota Bay, Marina Jacks and the Gulf of Mexico beyond, set the stage in this elegant residence poised high in the sky in Downtown Sarasota!