Page 4 November 18, 2009
The Newscaster/Nature Coast News
Real Estate Today
Housing Crisis, Where did we go wrong?
A Guest Commentary by Darryl Diamond
they may need when moving in. Carefully
Divorce and death use to be the
taking time to pick a town,
main reasons for distressed property. Add to
and a sub-division that fits
that loss of employment, along with some
their school/ job situation
people experiencing large medical bills and
will also be covered by
you start to see how we got into the present
their advisor.
foreclosure crisis. For many years now the
With gas prices
federal government has offered plans to get
high, as short a commute
people into their own home. Instead of help-
to work as possible for
ing these prospective home buyers get into
both spouses is getting important. Let’s not
counseling which would explain to them the
forget that for many buyers, being close to
importance of saving a large down payment
their place of worship is also very impor-
on the largest purchase of their life, several
tant. I mention these items because for many
programs encouraged them to buy imme-
years now buyer after buyer have run around
diately by offering 3 % down loans. Loans
crazy looking for many, if not all of these at-
such as the FHA backed 3% down program
tributes while selecting a permanent home.
Homosassa Arts,Crafts,Seafood Festival
also allowed the buyer to borrow most if not
You might say these criteria are
all of the closing costs from a family mem-
(left)Tropical art signs are really in as many folks turn in these hard times to the laid back
what makes a house, a home for your family.
ber.
lifestyle sung in the Jimmy Buffett songs. William Dickerson of Homosassa Riverside Gal-
Unfortunately buyers seem to end up doing
Then around 2003 some bird brain
lery and Gifts presented a wide variety of signage at the Homosassa Festival this weekend. A
this all in a short period of time, so an advi-
lenders started the proliferation of zero
true eye catcher was his highly decorated “portable bar” made from an old wooden ironing
sor /consultant for at least a year before the
down conventional loans. As good a feeling
board. (right) Leland Williams of Crescent City Florida took the "Best of Show" ribbon this
actual purchase is the way to go. Why rush
it was to offer buyers zero down and FHA
weekend at the 35th annual Homosassa Arts, Crafts & Seafood Festival in "Mixed Media."
such an important decision. Buyers should
backed loans the fact is most of these “B-C
Williams' miniature artwork is done with oil pastels on sandpaper and his sculptures that
go slow, plan, and enjoy beginning their ho-
credit” borrowers were obviously not pre-
have taken ribbons before are made from a variety of different materials focusing on nature.
meownership experience.
pared for any extended job loss or other cri-
First time visitors to the Homosassa festival, Nancy and Bill Lester of Brooksville, stop and
It’s a heck of a lot better than blow-
sis. In the future, new borrowers should be
chat with Williams about his artwork and win. Photos by Sally Price.
ing into a home, and blowing out with a
Homosassa Youth Killed in Motorcycle Accident
given counseling to prepare them for home
foreclosure situation. While I’m on this
ownership, starting at least one year before
soapbox, it would be nice if our federal gov-
The Florida highway patrol continues to investigate a single vehicle accident that
purchase.
ernment would use this one year “cooling
took the life of 17 year old Cody T. Corbin of Homosassa Saturday night (11-14) at about
This counseling would be available
off period” approach before jumping into a
10:39. The FHP report stated that Corbin’s 1986 Honda motorcycle was traveling west on
to everyone, but would be mandatory if any
major health care plan overhaul, as this will
W. Village Drive west of S. Velour Loop in Homosassa and, for unknown reasons, traveled
buyers put less than 20% down on any loan.
also have long term effects if not handled
onto the south shoulder.
These counselors need to explain the “dream
property.
The front portion of the motorcycle struck a row of mailboxes and ejected the
and plan while you save” method of buying
Darryl Diamond and “The Dia-
driver. Corbin was transported from the scene to Seven Rivers Hospital, where he was pro-
a home. While saving for a year or so for
mond Team” are the seasoned profession-
down payment & closing costs, these first
nounced deceased by medical personnel. The report stated that Corbin was not wearing a
als at Diamond Investments Inc. Let his 30
time home buyers can simultaneously plan
years experience work for you when you
helmet at the time of the accident.
to pay for moving expenses, electric depos-
purchase your next property. He is available
Coastal
Hair Port
its, water deposits, money to purchase fur-
at 352-447-4442.
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at Plaza 40
Carting
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Numbers
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email: lisavandeboe@yahoo.com
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