Northwest Florida Realtor: December 2009

Gorgeous custom home built in 2005 located on Lake Holley, a private spring fed lake with fishing and boat access. This lakefront home has a walk-out deck on each floor to maximize the views of the great lake. Upon entering the home on the entry level you are welcomed with tons of views overlooking the beautiful Lake Holley. The rear of the house shows the two stories opening up to a 480 square foot deck on the upper floor and a 480 square foot porch off of the downstairs floor to enjoy sunsets on Lake Holley. The downstairs deck steps down to the 16 x 32 swimming pool with a very nice decorative concrete sun deck. The first floor has a large open floor plan with 2,707 square feet of living area with three bedrooms and two baths. The study can be used as a home office, media room or fourth bedroom. The master suite is 688 square feet of privacy consisting of the master bedroom, bathroom, walk-in closet and sitting area. The master bath has a jacuzzi tub and a large 2 person travertine shower. The large kitchen has more cabinet space than many of the million dollar homes in South Walton. Cabinets are quality built with glazed maple. The kitchen also includes granite countertops. Kitchen floors are porcelain tile and the kitchen has a pass thru and two raised bars. All appliances are stainless steel, Thermador and Bosch. The large great room has a gas fireplace and the vaulted ceiling runs through the great room and kitchen area with french doors opening up to the deck overlooking the pool and lake. Bedrooms are all carpet. Great room, breakfast area, dining room, study, master sitting area, halls and stairs all have bamboo flooring. The foyer, bathrooms, utility room and kitchen have tile floors. The two car garage finishes off the upper floor. Central vacuum system throughout home. The downstairs was just finished in December and has 1605 square feet of total living area. It is currently used as a large recreation area with a separate home gym and full bath. The lower floor could easily be used as a mother-in-law quarters. The downstairs home gym is 220 square feet which could be used as a bedroom or home theatre. The lower level also includes a 533 square foot garage for workshop and storage. The upstairs and downstairs have separate heating and cooling for energy savings. The house was built with blown insulation and Andersen windows and doors. The exterior of the home has a cement circle driveway, is newly landscaped and has a fishing dock on the lake.

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Great visible location close to the Baker block museum in downtown Baker. Don't miss this chance to own a commercial property with great visibility on Hwy 189. Also see MLS # 524787 for a chance to own close to a city commercial block in baker. This property is situated thirty miles from the beaches of the Gulf of Mexico, near Fort Walton Beach, Destin, Pensacola & Navarre on the I-10 corridor also near aerospace hub of Eglin Air Force Base with rapid growth due to BRAC realignment.The building consists of two separate storefronts.Call today to take a look

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Thrift Failures, 1986-1995                              

                          (FSLIC)                                                                 RTC

Year         Number of banks closed            Assets                Number of banks closed        Assets

1986             54                                      $16,264

1987             48                                       11,270

1988            185                                      96,760

1989              9                                            725                           318                         $134,520

1990                                                                                            213                          129,662

1991                                                                                            144                            78,899

1992                                                                                             59                             44,197

1993                                                                                               9                               6,148

1994                                                                                               2                                  137

1995                                                                                               2                                  435

Total         296                                       $125,019                          747                          $393,998

I have just read the cost of the savings and loans crisis:

by Timothy Curry and Lynn Shibut

It is really like you took the headlines of what was going on in that time period and replaced them with the news today and this year.

FDIC closes 7 more banks brings total to 140 includes 80 year old bank First Federal Bank of California

 FDIC closes 3 more banks SolutionsBank, Valley Capital Bank,Republic Federal Bank

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FDIC closes 7 more banks brings total to 140 for this year. The bank closings include:

First Federal Bank of California

Bank's failure is expected to cost the FDIC $146 million

Imperial Capital Bank

 Estimated to cost the FDIC $619 million.

Independent Bankers' Bank

The closure is expected to cost the FDIC an estimated $68 million

New South Federal Savings Bank

The Alabama bank's failure is expected to cost the FDIC $212 million

Citizens State Bank in New Baltimore, Michigan

The failure will cost the FDIC an estimated $76 million

RockBridge Commercial Bank in Atlanta, Georgia

 expected to cost the FDIC $124 million.

In Panama City,FL  Peoples First Community Bank was shut down

The closure will cost the FDIC an estimated $556.7 million

The FDIC is raising its 2010 budget by a 55 percent and adding staff in order to deal with another round of excessive bank failures next year.

http://www.fdic.gov/bank/individual/failed/banklist.html

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Banks have been going under at a rapid pace in Florida, prompting the FDIC to open a large satellite office in Jacksonville, Florida last month, with a workforce of nearly 500 specialists to help handle closings in this part of the country.

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Federal regulators have shut the doors on three more financial institutions in Florida, Kansas, and Arizona, bringing the total number of failed banks to 133 so far in 2009.

Valley Capital Bank is to be taken over by Enterprise Bank & Trust costing the FDIC on this Arizona bank's failure $7.4 million

SolutionsBank is being taken over by Arvest Bank this will cost the FDIC an estimated $122 million.

Republic Federal Bank. Republic $352.7 million in deposits, its four branch offices, and $267.1 million assets.1st United Bank has agreed to take acquire the banks assets this will cost an expected cost close to $122 million for the FDIC

 See a complete list of closures at

http://www.fdic.gov/bank/individual/failed/banklist.html

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Sarah Thomas- Line judge in todays Marshall vs Ohio U bowl game was today the first woman to referee a bowl game ever.

I was suprised at this as I knew it had been some time since there was the first college football woman referee to officate a game.

Congrats to Sarah

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Government

The U.S. Department of Treasury has announced that the American Recovery and Reinvestment Act (Recovery Act) has now provided more than $4 billion in funding to jump start housing development in communities around the country.

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Pickens Plan- The main sections of the plan are the following:

The Pickens plan has already seen parts come to light, the incentives for US homeowners has risen since the start of the Pickens Plan and been embraced by the House and Senate.

 FY 2009 LIHEAP(Low Income Home Energy Assistance Program (LIHEAP) which includes winterization programs that include replacement of non energy efficent windows and much more. Funding of $5.1 billion, the highest in the program's history and nearly double FY 2008 funding of $2.6 billion. Of the total, $4.509 billion has been distributed through the regular block grant program and $590 million was distributed as emergency contingency funds.