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GET THE LINKS — Read “At Home In Coral Bay” On-line! This newsletter is supported by 9 PDF documents! ONLY AT: http://VelieRealEstate.com |
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Consultant, Realtor, & Lic. Mortgage Broker (954) 263-6287 Copyright: Eddie Velie Real Estate Services |
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Excerpt From: CDD Editorial My wife asked me, “how long are you going to keep this up?” She is referring to my these negative columns. I replied, “when they start doing their jobs.” That is, when they put the fence back on South Bay Drive, when they put the gates up that the people voted for, when they stop spending money on unwarranted extra security, harassing our neighbors and violating their own mandated existence —. (Page 1) |
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The Florida economy and your family’s financial future depends on it! With over 1,600 registered voters in Coral Bay, we can make a difference! It takes 60% voter approval to pass. Everyone must go and VOTE YES FOR TAX REFORM. Without it, we could be looking at many more years before a real estate recovery. (see page 4 for more details.)
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(Click the logo for more information) |
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No One Knows Coral Bay Like Eddie Velie Consultant, Realtor, & Licensed Mortgage Broker |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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EDDIE’S BARGAIN’S 3/2/1 car /Grove/Room for Pool à 3226 W Buena Vista Dr $335,000 3/2-1/2 /1-car/Waterfront View 3 BR/2 Bath/2 Car Garage 3 BR/2.5 Bath/2 Car Gar/FL Room à 3045 Green Turtle Pl $259,000 3 BR/2.5 Bath/1 Car Gar/Corner Lot 3 BR/2-1/2 Bath/1-car/Fenced/as-is 3BR/2 Bath/Garage/POOL |
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degree than zoning ordinances. Used in conjunction with building codes, they are effective in protecting property values.” “Zoning ordinances normally recognize these conditions by creating a ‘buffer zone’ between residential and commercial zones.” Our developer obviously knew this. My wife and I would NOT have bought here if we had to look at the trailer park junk yard every day. The board voted to spend $8000 on a security analysis then had it deemed “confidential.” It’s not a secret that the board needs to hide their embarrassment. The security expert stood up for his presentation, walked to the podium and the first thing he addressed in half dismay was the lack of fencing on South Bay drive! Do the math: $25,000 from Best Buy + $8,000 wasted on the security audit = $33,000. Then $60,000 for fencing minus $33,000 = $27,000. $100,000 wasted on roving security minus $27,000 = a $73,000 surplus. So, why is the board waiting on FEMA? (to pay a big contractor to pocket $50K and sub-contract out the fencing to little guy trying to feed his family?) What we need for security is the fencing, more lighting, less hiding places around the pools, and signs that say, “No Loitering! (except for swimming, sun bathing, picnicking or fishing). Then we could all call the police for free on the people who just want to “hang out” instead of paying a security company. My wife asked me, “how long are you going to keep this up?” She is referring to my negative columns. I replied, “when they start doing their jobs.” That is, when they put the fence back on South Bay Drive, when they put the gates up that the people voted for, when they stop spending money on unwarranted extra security, harassing our neighbors and violating their own mandated existence. I’ve been told by many of the homeowners in Coral Bay that they “love my rants.” I hope you don’t think this one has gone too far. If you think it has, look at the $92,549 figure again and see if you don’t feel nauseous. We pay them to waste money now and pay again when we sell. |
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No One Knows Coral Bay Like Eddie Velie Consultant, Realtor, & Licensed Mortgage Broker |
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Page 2 |
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CDD Editorial – A $92,549 Rant - Thanks for nothing CDD board. You had the chance to slow the decline in value of homes in our community. The State of Florida even allows you to pay yourselves $200 per meeting up to 24 times per year. But you continue on with your monthly meetings smugly hiding behind the elected official constitutionality. You come in unprepared to do your jobs, hold up projects, or don’t even consider them, then send out for answers to questions like time stands still for you. Nearly 3 years ago, I suggested to the board that we still had time to fix the community before the next market downturn. Now 2-1/2 years after Wilma, we still don’t have a fence on South Bay Drive, Peninsula Park is still closed, the docks are still down, the gates are still NOT down, the basket ball and tennis courts need resurfacing, etc., etc., etc. Your progress is not fast enough. You’re two busy playing negative politics that pacifies your own ego at the expense of the greater good of the whole community. Let’s take a drive on North Bay Drive and look at the beautiful landscaping. Even the view over fence at the condos is mostly blocked by newer Sable palms along Fay’s Cove. Maybe that’s because a 3 term board member lives there? Continue your drive past North Bay Park. See the tennis and basketball courts that have NEVER been resurfaced since the developer left. Check out the West end where beautiful trees used to cover up the ugly power lines. As you are passing the back gate that has been standing open for weeks, look across from the gates at the ugly chain link fence put up by the CDD separating the houses from the littoral preserve. Drive past the playground that volunteers refurbished. Now drive East on South Bay and look at the junk yard and trailer park. Quite a difference isn’t it? The board could have replaced the missing fencing in Coral Bay (about 2700 feet) for about $60,000. Thank you for the quotes Andes Fence and Nations Fence. The board chose to accept a $25,000 pay-off from Best Buy to accept their signage looming East of Coral Bay (last I heard it was to be used on North Bay Dr). If they used that toward the fencing we |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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need throughout Coral Bay the cost per homeowner could be ZERO. ($60,000 minus $25,000 and minus the money from FEMA leaves a surplus). Instead of just “doing it,” the board chose to beg from FEMA and Florida, barking up every appeal process tree they could find to get more money for a fence that everyone knows costs half as much as the board is asking for. Two months wasted here, two months wasted there, practicing negative politics, then a CDD board member consulted with a rookie city planner who obviously must be oblivious to what affects real estate values telling the CDD board member they didn’t have to have a fence on S. Bay Dr. The boards careless negligence is astoundingly bold when they choose to ignore the “Bible” of real estate, (Gaines Coleman, 27th Ed., FL Real Estate Principles, Practices and Law, Linda L. Crawford), that trains nearly every real estate agent in the state of Florida. It says that “No other land-use control affects all properties in a community to a greater |
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“Momma says, stupid is as stupid does.” (By: Forest Gump in Forest Gump, the movie) If the board was going to do a security audit, then why didn’t they do it 3 1/2 years ago when you took down the gates to put up our half missing and segmented concrete wall.” Stupid, Huh?! Who would put white concrete island curbs in the middle of the road with no warnings, no yellow curbs, no posts, and no reflectors, (the orange cones were put up 1/27/08) then sit there at the board meetings month after month and not put our gates back “because people keep tearing them up anyway.” Stupid, Huh?! Who would spend $100,000 per year on roving security when your constituency wants the gates put back the way they were (Then they could take all the time they need to investigate improvements). Stupid, Huh!? Who would refuse to resurface the tennis and basketball courts saying “they will just be vandalized again” and “they are a pain in the &%#.” Why don’t we also stop painting our houses because it will just fade again! Stupid is, as stupid does— |
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· % Drop in Mo. Avg. Sale Price 27.8% · Average Sale Price (Annual) $302,072 · Median Sale Price (Annual) $306,225 · Dollar Value of the Decline $92,6549 · Chart-2007 Quarterly Averages · Deed Transfers Not Included in Analysis (data from Broward County public records believed accurate but not guaranteed. Research by Eddie Velie, copyright, 2008) |
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No One Knows Coral Bay Like Eddie Velie Consultant, Realtor, & Licensed Mortgage Broker |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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CORAL BAY COMMUNITY PRIDE We are all in this together. We depend on each other to maintain our individual homes so the appearance has a positive impact on Coral Bay & on each home’s value. Let’s help each other. Let’s cooperate. Let’s be neighbors. Let’s make Coral Bay so appealing to outsiders that they want to live here. That’s the idea. Ask yourself, “Does my home add value to Coral Bay?” or “Does my home drag down the values of my neighbors homes?” Walk across the street from your house and take an objective look as if it were your first ride through Coral Bay. Is there anything that you can do to improve the view for potential buyers, or your neighbors? These questions, if answered honestly to yourself, and acted upon, could improve the quality of life for each and every resident of Coral Bay. When one household is allowed to let the house go into disrepair, it becomes contagious and the next house starts letting their house go. Apathy spreads. This works the opposite way as well. If you care, they will care. Generally, the worst houses are rentals. It is simply more difficult to get a renter to maintain the property with care because they see no reason to spend money on a house that is not theirs. That is what the HOA is for. A home falling into disrepair that is owner occupied, usually indicates they are having financial difficulties. Let’s offer help & encouragement. Let’s work together because we are in this together. Working together could be worth tens of thousands of dollars to each owner in the future. And, the opposite is also true. By: Eddie Velie, Your Friend & Neighbor) |
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Why Banks Allow A “Short Sale” Often times a bank will make money on a short sale. While investigating liens in the public records online, I kept noticing an “assignment of mortgage” (the bank sells the mortgage) preceding a foreclosure filing. Curious, I asked an attorney specializing in foreclosure protection. The answer was simple. Banks fear a federal investigation if 1% of their mortgage portfolio goes into default (payments are more than 30 days behind). When defaults get close to 1%, the bank sells the mortgages in default to another lender for about 60 cents on the dollar. The 2nd bank then files a foreclosure against the home and allows the owner to “sell short” of what they owe while still making a nice profit in many cases. For example: A $100,000 mortgage in default is sold to bank B for $60,000. The homeowner still owes bank B $100,000. The market will not pay $100,000 (plus closing costs) so the bank allows the owner to sell at $80,000 and pockets the other $20,000. This is a win-win for bank “B” and the homeowner if it works this way. |
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No One Knows Coral Bay Like Eddie Velie Consultant, Realtor, & Licensed Mortgage Broker |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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HOME MAINTENANCE TIPS · ST AUGUSTINE GRASS — All you ever need to keep St. Augustine grass green and healthy year around is Scott’s Bonus S Weed & Feed. For most of you, this will take less than 10 minutes, 3 or 4 times per year. If you see weeds in your grass, borrow a spreader from a neighbor, spread the granules and forget about it. Reapply if necessary. The stuff works like a miracle and lives up to it’s name. · EXTERIOR MILDEW —You may be able to postpone a paint job or pressure washing simply by killing the mildew. Fill a sprayer with 50% household bleach & water and apply to the affected areas. Hose the area down when it seems to stop working. Reapply if necessary. (Bleach is a corrosive liquid so be extremely careful with clothes, eyes, kids, & pets. Follow the safety instructions.) · WEED CONTROL —Paver driveways, cracks, and flower beds, can quickly turn ugly with weeds growing in the cracks. One squirt of a weed killer and forget about it. The weeds will disappear leaving it looking well kept again. · CEILING STAINS — I have never seen A popcorn ceiling that could be patched without leaving scars on your ceiling. BEFORE you start cutting and patching your ceilings, spray Clorox Clean Up on the ceiling and most water stains will disappear. Then, using a tiny artist’s brush, dab Kilz 2 on the spots and that should take care of the rest. Do not brush it or roll it because the popcorn will come off leaving flat spots on your ceiling. · COUNTER STAINS—The same product, Clorox Clean Up will remove nearly all stains from cabinets and countertops that were installed by the builders in nearly every home in Coral Bay. Never use scratcher pads on the counters. (Always use recommended safety precautions) (Copyright: Eddie Velie) |
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The Tax Amendment The passage of this NEW amendment is very critical for Florida’s economy and your financial well-being. If it doesn’t pass, it could be 2009 before we see any tax relief and 2010 before recovery. The 4 main points: · The portability of up to $500,000 in accumulated tax saving cap from the “Save Our Homes Act” is retroactive to January 1, 2007 and is good for 2 years after you sell your home. · The homestead exemption is doubled from $25,000 to $50,000. · It puts a 10% cap on commercial & non-homesteaded properties, even when values rise faster than that. · The amendment exempts $25,000 in intangible property taxes on local business. |
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In the photo: Cub Master Rich Recchie (front), owner of Pile Services, is launching the next heat as Lighthouse District Executive, Brian Estler (from far left), candidate Rich Popovic, and Mayor Frank Talerico observe. (Photo by: Eddie Velie) |
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CANDIDATE COMMUNITY INVOLVEMENT It is important that city commissioners relate to all age groups. Below, In January 2007, Mayor Frank Talerico (middle right) who is now Margate City Commission candidate and, Rich Popovic (middle left), another Margate City Commission Candidate participate with the families of Cub Scout pack 836 at the 31st Annual Pinewood Derby as “Best of Show” judges. (photo by: Eddie Velie) |
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Pack 836’s History of Tradition: Margate’s Cub Scout Pack 836 has 17 terrific volunteer adult leaders this year, one of whom was an 836 Cub Scout. All official leaders must submit to a background check as part of their application. Pack 836 has been chartered by the Knights of Columbus for 32 years. Fred Schweitzer, the Executive Officer for 32 years, serves as a liaison. Besides teaching the boys the BSA core values, Pack 836 is involved in many community events such as, “Scouts Helping Neighbors,” (that donated about $10K in 2006 and $3K in 2007), playground repairs, water clean-up, City veteran ceremonies, and “Scouts Helping Troops” overseas. |
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· Professionalism |
· Skill |
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· Honesty |
· Care |
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· Fairness |
· Diligence |
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· Accountability |
· Confidentiality! |