It's all things education this week...Pinellas County schools start August 19, 2008, which is closer than it seems - only 3 weeks away!

Pinellas County also had no schools that received an "F" this past year - and only 7 of the total 125 schools received a "D". In total, approximately 75% of Pinellas County schools received an "A" or "B".

Locally, Pinellas County has moved away from the old "School Choice" format of assigning schools to the "Closer-to-Home" method based on geography and population. THIS IS EXTREMELY IMPORTANT WHEN FAMILIES ARE DECIDING WHERE TO BUY IN PINELLAS COUNTY!

For detailed information on the methods and standards to which schools are assigned/requested, pleae visit http://www.pcsb.org/choice/files/StudentAsssignmentPlan_12_19_07.pdf. This information is too in-depth and detailed to explore in this blog. Suffice to say, schools are assigned on a capacity and geographical basis but there is still an option of "applying" for a different school for various reasons.

The change has to do with the complicated process of the previous 8 years that including applying for 3 different schools and hoping and praying your child was assigned to one of them (preferably the first choice). The end result was disappointment and frustration as some children would be bussed miles to a school farther away than a neighborhood school. District financial pressures also necessitated this change, as "closer-to-home" schools = less bussing requirements. As a soon-to-be-parent, I am in favor of this new assignment plan (i.e. I have not heard of any negatives associated with it).

To see these new assignment maps, go to:

• Elem. school map: http://www.pcsb.org/choice/files/08-9%20StuAsgntEL.pdf
• Middle school map: http://www.pcsb.org/choice/files/08-9%20StuAsgntMS.pdf
• High school map: http://www.pcsb.org/choice/files/08-9%20StuAsgntHS.pdf

http://www2.tbo.com/content/2008/jul/23/pool-builder-unfinished-projects-files-bankruptcy/

Pool Builder With Unfinished Projects Files For Bankruptcy

By MARK DOUGLAS
News Channel 8
Published: July 23, 2008

Customers Left High And Dry

For a handful of homeowners in Pasco and Hillsborough counties who dreamed of floating in their new pools by now, it's going to be a long, hot summer.

As many as a dozen customers of Tampa-based Capital Pools & Spas Inc. now have to look elsewhere for someone to finish backyard pool construction -- that began as long ago as November -- because the company suddenly closed its doors.

Tampa homeowner Kenny Patel says his two children have been waiting months to make a splash in the pool. "How do I tell my boys?" He asked while looking at tadpoles swimming in the stagnant brown water at the bottom of his unfinished pool. "You can't explain to a 4-year-old."
State records indicate Greg Luce has operated Capital Pools since he took it over from the former owners in 2005.

Luce says he is out of business, out of money and heading for bankruptcy court. "I feel very, very bad for these people, but I basically lost everything, literally everything, Luce said.
Subcontractors such as Largo-based Rush Concrete Inc. first sensed trouble in April when they began sending homeowners letters threatening liens because Capital Pools wasn't paying its bills.

Tampa homeowner Henry Alvarez says he already has paid Luce for his unfinished pool but has received a number of such letters. "I'm getting letters, liens, notice to owners from the shell, the concrete people, the paver people, the electrical people that he [Luce] still owes, Alvarez said.
A Target Eight investigation has uncovered customers in Pasco and Hillsborough counties who say they paid Capital Pools as much as $55,000 for pool construction that is incomplete or never got started.

Karen Taylor says she paid Capital Pools a $2,920 deposit on May 27, but the company never broke ground. She said Luce recently assured her pool construction should begin soon. "He said he was moving offices and I jokingly said, 'You're not going out of business are you?' and he said, 'Of course not, I wouldn't start your project if we were going out of business.' "

Taylor said days after that conversation she found out Luce closed his Linebaugh Avenue offices without leaving a forwarding address.

Luce concedes he still owes his former landlord two months back rent and said he is too embarrassed to return calls from customers that are filling up his voice mail.

Former Pasco and Hillsborough customers are now scrambling to find other ways to finish their pools and deal with unpaid subcontractors.

One homeowner has filed a complaint with consumer authorities and a number of others are in the process of filing complaints with the Florida Department of Business and Professional Regulations, the state agency that licenses Luce as a pool contractor.

Luce said he's working with subcontractors to finish the pools but that won't happen with any money from him.

Luce tells Target Eight he apologizes to everyone he's hurt by shutting down with so many unfinished projects, but has no resources left to finish the pools, pay subcontractors, or offer refunds to his customers. "I have nothing, absolutely nothing," Luce said. "I don't even have a job right now."

DO NOT DO BUSINESS WITH STEVE'S EXPERT TREE TRIMMING!

I am the first person to recommend a great vendor for all different kinds of home services, such as lawn-mowing, painting, roofing, etc. I have never had such a BAD experience that I have publicly declared that others should exercise EXTREME CAUTION when employing a certain vendor. But that's about to change. (PS...this is not libel as I am recounting my firsthand experience with this vendor)

I solicited a bid from STEVE'S EXPERT TREE TRIMMING for a rental property I manage. Steve Luttman, the proprietor, gave me a competitive quote which we signed off on. Despite the fact he kept calling me to start the job EVEN though I told him I would call him, I continued forward with our agreement. At one point, he started work without my authorization, at which time I promptly asked him to cease and desist. He did, but not before making a massive pile in the front yard. I felt he was trying to force my hand, which I did not appreciate.

When I gave him the green light, they started immediately (good) but delayed their return to finish the job for 5 days (bad). He asked for 50% halfway through the job, which was ok by me. After completing the full cut but before he took the 1st load to the dump, he asked for the balance. Stupid me should have gave him half of the remaining balance, but I made the regretful mistake of paying him in full, trusting that he was an ethical businessman who would not want to sour a future relationship. Plus, he only had 1 more load to take to the dump.Long story short, he never returned for that 1 load.

I had new tenants wondering why there was a heap of debris in their yard, neighbors were giving me dirty looks (I deserved it!), and I ultimately had to haul the rest to the Tarpon Springs dump at a cost of $50 + the 4 hours of my day. He never returned any of my phone calls, but that's what happens when 1 person screws another.

I ABSOLUTELY RECOMMEND STAYING AWAY FROM THIS LYING, UNETHICAL TREE TRIMMER. You will save yourself time, money, grief, and aggravation!!!

This just in from RISMedia.com, a great real estate news source!

RISMEDIA, July 14, 2008-Amidst the gloom on Wall Street about housing someone forgot to check the stats. The National Association of Realtors® has now reported four straight months of rising housing prices, but it seems no one is listening.

According to NAR statistics, the median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another indicator, the mean home price (otherwise known as the average home price), has also shown strength and has risen from a low of $242,000 also in February of this year to $253,100, a rise of $11,100 or 4.5%. It, too, has risen every month since February of this year.

“I just don’t know where Wall Street’s brains are today,” said David Michonski, CEO of Coldwell Banker Hunt Kennedy in New York City. “Everyone on the Street is wringing their hands over housing when in fact the average American has been out this spring buying homes and pushing the median price higher. This has got to go down as one of Wall Street and Main Street’s biggest disconnects in history.”

In addition, on an annualized basis the volume of home sales has also risen somewhat from a low of 4,890,000 homes in January to 4,990,000 in May.

“Rising prices on expanding volume should not a crisis make on Wall Street,” says Michonski.
So why the crisis?

“They say that there are bulls and bears on Wall Street but there are also pigs. Pigs try not just to profit from a crisis but create one to profit from. Today there are just so many people who have positioned themselves to profit from a crisis that they refuse to admit the reality of what is happening on Main Street. It might hurt their positions.”

Is this the bottom?

“No one can know for sure, but the hard data is clear. The median price has risen four straight months. The average American is out there taking advantage of bargains in their local real estate market. They are not listening to Wall Street but following their own belief that the best time to buy is when no one else is, and they are out there buying. If this keeps up, February may prove to have been the low in prices.”

“It is possible that it will not be Hank Paulson or Ben Bernanke who will pull this country out of a housing recession, but the good common sense of the average American whose affordability to buy a home is at a five year high and is acting on it.”

I get questioned all the time As for our local real estate market, all the economists are now pushing the expected recovery from late '08 to '09...something I can easily do.

The rates are slowly creeping up (I have heard it will be around 7% start of '09 due to inflationary pressures). Our problem is sky-high SUPPLY and constant low demand. Some economists have predicted that demand will increase when the supply of available NEW homes diminshes...

I have read recently that NEW HOME STARTS are at a 16-18 year LOW, which leads me to believe we are exhausting (slowly) the supply of new homes.

Right now appr 6.2% of available homes in the Tampa Bay area are selling each month. It would take appr 16 - 17 months to deplete the inventory (given no more homes go up for sale). A traditionally healthy market will have a 3 - 6 month supply of homes, so you can see how far we have to go.

Honestly, with the economy experiencing recessionary effects, our high inventory, and the vast number of current and future foreclosures, I don't expect a "bottom" (whatever that may be)until late 2009 and a stabilization in 2010.

That said, there are many GREAT deals...I have noticed the bank-owned properties are carrying the most equity fro new buyers at closing.

Below is a 4 yr "look-back" home supply graph of the tri-county Tampa Bay area...remember, stay educated and these market surprises will become less "surprise" and more "expected".