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When you think of a home, either for rent or for purchase, you dream of somewhere that offers a tranquil setting and yet gives you easy access to all modern facilities and services. Gainesville, Lake City, Florida Real Estate offers a combination of the best of both worlds. And with a steep decline in real estate prices because of the recession, the best time to buy property is now!

Gainesville, Lake City, Florida homes can be bought or rented according to your requirements. Some individuals intend to buy homes in the area to enjoy the pristine natural beauty. The shopping, nightlife and arts and culture of the area are also a alluring concoction. Properties are also rented out to people interested in holidaying in this amazing tourist destination.

With the help of a reliable Gainesville, Lake City, Florida real estate agent it is easy to locate a home of your choice. Be it a luxurious penthouse of 8 bedrooms or an apartment of 2 bedrooms, all types of properties find place in the catalogue offered by these real estate dealers. All you need to do is contact a reputed real estate agent and look for options in the neighborhood of your choice.

Once you have chosen the dream home, you need to deal with the negotiations and the legalities. A professional real estate agent can help you purchase a Gainesville, Lake City, Florida property without facing any hassles. They would help negotiate the terms and conditions of the deal. They are also apt at handling all legal matters related to the purchase of a house.

If you are planning to buy a home, then the best time to do so is now. The recession stricken real estate market offers buyers a golden opportunity to invest in their dream home without even burning a hole in their pockets. In the present situation, you would get more than your money’s worth when you invest in any property under the Gainesville, Lake City, Florida real estate.

In the present financial scenario, many individuals need to sell their property for numerous reasons. If that is the case you can avail the help of Gainesville, Lake City, Florida real estate dealers as well. These people are experts at selling your property even in this recession-hit market and with their help it is much easier to avoid foreclosure or other such misfortunes.

So, be it for selling your property or buying a new one, the Gainesville, Lake City, Florida real estate is the right option if you wish to get the right price for your property and complete the deal within a short span of time. Moreover, they help in your negotiations and the legalities involved in a property deal making it easier for you to manage the whole episode.

AP

Pending home sales rose for the fifth consecutive month in June, easily topping expectations, according to the National Association of Realtors.

The Pending Home Sales Index rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent higher than in June 2008. Reuters had expected an 0.6 percent increase.

The last time there were five consecutive monthly gains was July 2003.

The housing market's collapse is at the heart of the longest U.S. recession since the Great Depression and reviving the sector is critical to healing the economy. The data served as further evidence that the housing market was starting to claw out of a three-year slump.

"Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who've been on the sidelines. Activity has been consistently much stronger for lower priced homes," said Lawrence Yun, NAR chief economist.

Pending home sales were higher in all four regions than last month, and only the west experienced a decrease from a year ago. The index in the Northeast rose 0.4 percent to 81.2 in June and was 5.8 percent above the same period last year. In the Midwest, the index climbed 0.8 percent to 89.9. It was 11.6 percent higher than June 2008. The index in the South jumped 7.1 percent to 100.7 in June and was 8.9 percent higher versus a year ago. In the West, the index rose 2.9 percent to 100.4, but was 0.2 percent below June 2008.

"Hopefully, in the months ahead, we'll see an even closer relationship between contract activity and closed transactions," said NAR president Charles McMillan.

The organization's Housing Affordability Index fell from record peaks reached in recent months but remains 36.6 percentage points above one year ago.

—Reuters contributed to this report

See which housing markets are up in sales volume or down. This home sales report also shows how much appreciation or depreciation has occured year over year.

Florida sales report, Jun.xls

In light of the recent Bernie Madoff scandal, I ran across a

fascinating article about the infamous 1920s swindler,

Charles Ponzi. Although Ponzi gained notoriety for his

unscrupulous deals in New England, his last hurrah involved

a land deal in Columbia County.

This is an excerpt from a treatise written by Mark Knutson. To

read the entire article: www.mark-knutson.com

============================================

Ponzi answered Florida's siren call, arriving In Jacksonville on

September 28, 1925, as the boom was beginning to fade. As his

name had become synonymous with fraud, he used the alias Charles

Borelli. Once his presence and true identity were revealed, he

announced plans to recoup his fortune, through the subdivision of

real estate, and repay all investors. He would advertise nationally,

selling lots at an affordable ten dollars each.

Ponzi not only missed the land boom, but his luck was such that he

arrived in Florida just as authorities began a campaign of

investigations aimed at discouraging speculative land dealings.

Ponzi, his wife, and Mr. and Mrs. Calcadonio Alviati, formed the

Charpon land syndicate, quickly attracting the attention of

investigators.

In February the Duval County Grand Jury returned a four count

indictment against Ponzi, his wife, and Mr. and Mrs. Alviati. They

were charged with violating Florida law regulating persons and

associations doing business under a declaration of trust; offering

securities for sale without filing a declaration of trust; selling units of

indebtedness without a permit from the State Controller; and doing

business without paying a $150 license fee.

Investigation revealed more details about Ponzi's pyramid land

scheme. His syndicate purchased, at $16 an acre, 100 acres of land

in Columbia County. It had been designated the Rosa Maria tract.

Each acre would be subdivided into twenty-three lots. With a $10

price per lot, Ponzi would yield $214 profit per acre. Ponzi claimed

that under his pyramiding plan, an initial $10 investment would yield

$5,300,000 in two years. And, of course, pictures of the land

revealed that some of the lots were under water. After the

indictments were returned, Judge George Cooper Gibbs issued

capiases (writs of arrest) for the Ponzi's and Alviatis. Mr. Alviati was

in Boston at the time, out on appeal of a six month sentence. Ponzi

was in Tampa at the time of the indictment and drove to Jacksonville.

The authorities, assuming he would travel by train, missed his arrival.

While Florida authorities continued searching for Ponzi, he retained

counsel and met with reporters.

After a 36 hour search, Ponzi and his wife were arrested in his

attorney's Jacksonville office. The unfortunate and longsuffering

Rosa fainted a few minutes after her arrest and was revived by

Sheriff's deputies and newspapermen. He was released on $5,000

bond, Rosa on a $500 bond. Ponzi moved to quash the indictment

and a hearing date was set for April 1.

At the Postal Inspector's request to the U.S. Attorney's office, Ponzi

was again charged with mail fraud on February 24. He surrendered

himself to the Federal Commissioner and was released without bail.

The preliminary hearing date was set for March 4. At a second

hearing on March 17, the Commissioner dismissed the mail fraud

charge. Ponzi's counsel claimed that the prosecution failed to prove

the specific intent to defraud required by penal law.

Testifying at the hearing, Ponzi provided many details as to the

operation of his syndicate, and claimed Department of Justice

officials had approved his plan. He sold "units of indebtedness"

promising 200 per cent. return in 60 days, but retained the right to

pay such returns with either cash or real estate. He made his first

sale on November 9, 1925, and had collected $7,000 from investors

before the mail fraud charges were filed. He had started to subdivide

two more tracts, but put all business activities on hold until federal

and state charges could be resolved.

Ponzi did not fare as well with the state of Florida. On April 2, a

Duval Court of Criminal Records jury found Ponzi guilty of failure to

file a declaration of trust with the Secretary of State and of selling

certificates of indebtedness without permission, after deliberating for

one hour and three minutes. He was released, on the same $5,000

bond, while his attorney moved for a new trial.

On April 21 he was sentenced to one year of hard labor in the State

Penitentiary at Raiford, and was freed on $1,500 bond while his

appeal to the State Supreme Court was pending. Judge James M.

Peeler denied Ponzi's motion for a new trial but gave him sixty days

to prepare an appeal. Ponzi's attorneys claimed the declaration of

trust was simply a power of attorney and not covered under the state

law. The prosecutors nolle prossed (dismissed) charges against

Mrs. Ponzi and Mrs. Alviati.

On May 28 the Supreme Court of the State of Massachusetts upheld

Ponzi's Larceny conviction. Judge Fosdick of the Superior Court in

Boston then ordered Ponzi to appear before his court for sentencing.

On Tuesday, June 1, Ponzi had failed to appear and the judge

issued a default warrant. Ponzi telegraphed Judge Fosdick from

Jacksonville that evening claiming he had only heard of the order the

day before and requested ten more days to appear: "Am under bond

here and need consent to leave the state. Also must settle my

affairs. Please wire me your orders collect." The Judge then

withdrew the warrant and gave Ponzi until Monday, June 7, to

appear.

By June 12, rumors were circulating that Ponzi had fled the country.

While not overly concerned, Boston authorities began preparing

police circulars bearing Ponzi's likeness and criminal record.

Immigration authorities had begun watching him after he

telegraphed Judge Fosdick from Jacksonville. The circulars were

sent out on June 22, with Ponzi still at large. The circular listed

aliases Ponzi had used including Charles Ponci, and Carlo and

Charles P. Bianelli. He was described as: "Forty-four years of age;

height 5 feet 2 inches; hair dark chestnut mixed with gray; eyes,

brown; occupation, thief."

On September 20, three Boston law officers left for Texas, hoping to

bring Ponzi back in October. Victims of wishful thinking, they would

arrive about four months before Ponzi's return. A few days later, on

the 23rd, Mayor Oscar Holcombe of Houston refused Ponzi's offer of

a warranty deed to 26 lots in Columbia, Florida to aid victims of the

hurricane which had devastated Florida coastlines four days earlier.

The Mayor added: "This is a very poor time for Ponzi to attempt to

gain publicity at the expense of those suffering from the ravages of

the hurricane."

Ponzi tried to return to his homeland by boarding a freighter in

Tampa that was bound for Italy. The ship made one last American

port call in New Orleans and Ponzi was captured and eventually

extradited to Massachusetts to serve out his prison term there. He

was ordered deported to Italy when he got out of prison in 1934.

Ponzi emigrated to Brazil sometime before World War II where he

died in 1949 in the charity ward of a Rio de Janeiro hospital at the

age of 67.

© 1996 Mark Knutson

12 plead guilty in $100 million mortgage fraud

New York City prosecutors have charged 25 people, including lawyers, bankers, mortgage brokers and appraisers, and a mortgage company, with committing mortgage fraud. Robert Morgenthau, Manhattan District Attorney, said AFG Financial Group Inc. (AFG) and its accomplices inflated property values, created phony loan packages, forged W-2 forms, and bank documents to get loans from banks for unsuspecting buyers. Buyers did not know that the transactions were a sham. AFG, through its attorneys, would ask that the mortgage money be deposited in escrow accounts. Instead of paying the seller, AFG would take the money for itself. "These attorneys often did not meet or communicate with their so-called clients until the day of the closings ... and were paid off by AFG for their efforts," Morgenthau said. Buyers were left with bad credit while the lender foreclosed the seller's property and took ownership. Banks which were cheated include New Century Mortgage Corp., which lost $32.2 mill
 ion; Countrywide Home Loans, which lost $7.9 million; and Washington Mutual, which lost $8.6 million. "This is one of the reasons for the mortgage crisis," said Morgenthau. Among those charged, 12 have pleaded guilty. All those convicted face up to 25 years in prison.