[CITY] Real Estate News

Welcome Cathy Fedora to Chelle Realty! A much needed assistant to Michelle Cecchini.

Cathy moved from Pennsylvania to Ormond Beach in 2006. She is married and has 2 teen girls. She enjoys being with & cooking for her friends & family.

Cathy will be answering phones, data entry, mailings and many other very important tasks to keep the office running smoothly.

JP Morgan Chase has given up to $35,000 in some cases to borrowers who do a short sale instead of letting the property go into foreclosure. Unbelievable!

Bank of America $5000 - $25,000 and Wells Fargo $5000 - $20,000.

Short sales, even with these incentive payments, can save lenders money compared with expenses involved in competing foreclosures.

Capital economics quotes they expect the housing crisis to end this year. Why? Because of loosening credit. They are lending to borrower's with a 700 credit score and better, lending 3.5 times the borrower's earnings and the LTV (loan to value) ratio is at 82%. This is a step in the right direction.

Have a good weekend and if you are here in Daytona Beach enjoy all the racing!

Silver Star Auto Repair Ribbon cutting

2-16-2012.

Best to Scott & Sandy Sickich with their new busincess venture! 

As a new member with the Ormond Beach Historical Society I was asked to volunteer at the Rowallen/Steel House at 253 John Anderson Drive. Sunday they held their 5th Holiday Tour of Homes. The home is magnificent and the homeowner Tony Steel and his mother did all the Christmas decorating. The front room where the walls are canvased with 1940's paintings by Joy Postle Blackstone is decorated in a light blue tone with a white christmas tree holding imported glass decorations in the corner. This room has the most history and is a warm welcome as you enter. Two staircases wind up to the 2nd floor where there is a large master with a fireplace and the most interesting black & white master bath with a pedestal tub right in the middle of the room. The Rowallen has 28 rooms total and was built in 1913. The name comes from a castle named the same in Scotland. The back gardens stretch far and the entire property is encircled by a high white gate. There are 2 buildings in the back that were at one point stables for horses. I was told that the property went all the way to the ocean at one point in time. A lovely experience to tour through this historic home and meet the lovely new family, the Steels. The other homes on the tour were the Anderson-Price Building-42 N. Beach Street, The Casements-25 Riverside Drive, The Phillips Home-66 John Anderson Drive, The Wahl Home-130 John Anderson Drive, The Burt Home-900 John Anderson Drive and The Conner Home-1010 John Anderson Drive. For more Ormond historical information & tours go to www.OrmondHistory.org