Here is a memory of my Dad’s service to our country: On Sept. 17, 1972 when I, Bart was only 1 year old, my Dad (Dave Swan) performed a risky rescue attempt of two downed F105G pilots in the seas just south of Haiphong harbor.  His story is detailed in Leave No Man Behind: The Saga of Combat Search and Rescue by Galdorisi and Phillips, 2008.  The following paragraph is an excerpt from the book and reflections by my Dad.

The Air Force were hitting targets in the hills north of the Haiphong area when Lt. Swan in Big Mother 70 (another name for the H3 helicopter) and Lt Lockett in Big Mother 61 received word of an F-105G Wild Weasel in trouble and making for the water.  Lt. Swan reached the downed pilot within 45 seconds of impact and released the rescue swimmer who fought unsuccessfully to free the motionless pilot face down in a seated position 15 feet under the water.  Big Mother 61 reached the other motionless pilot and Lt. Lockett released his rescue swimmer who was picked up once Lt. Lockett decided the place was to hot.  Shore batteries had opened fire, with surprising and immediate accuracy.  Lt. Swan followed Lt. Lockett and released his swimmer for a rescue attempt of the same downed pilot.  The swimmer attempted the 50 yard swim in rough seas to the downed motionless pilot without success. The swimmer was picked up but had to be released due to the hoist jamming.  Lt. Swan considered landing in the water [the H3 had this capability] but the high seas rendered the option very poor indeed.  Lt. Swan held his position as the shrapnel rapped into the helicopter.  Lt. Lockett flew into the bursting shells to complete the rescue of the swimmer but the swimmer’s position was lost.  The aircraft set up a racetrack pattern in and out of the impact area searching for the swimmer.  Several passes were made through the forest of splashes and finally after 15-30 minutes the swimmer was located.  Lt. Swan lowered Big Mother 70 to within a foot of the wave tops, and with the tail wheel submerged in the sea, the swimmer slipped in to the horse collar and was taken out of the area and brought on board. 

For our country’s selfless heroes, and especially my Dad, I am very proud.  Thank you!

The Federal Reserve is making a bold effort to invigorate the economy by announcing it will buy hundreds of billions more in Treasury bonds.

The Fed says it will buy $600 billion of long-term government bonds by the middle of 2011 to further drive down rates on mortgages and other debt. This will be in addition to an expected $250 billion to $300 billion in purchases over the same period from reinvesting proceeds from its mortgage portfolio.

The idea is for cheaper loans to get people to spend more and stimulate hiring. The Fed says it will review whether adjustments are needed depending on how the economy is performing.

Some worry the Fed action will do little to boost the economy because interest rates are already historically low. Others fear the bond purchases could drive inflation too high over the long term and unleash speculative buying in assets like stocks.

Spending money in this fashion is like building a larger campfire on a cold night by throwing shreds of your clothing into it.  Sure, the fire and your smile grow larger while you begin to feel good about your decision, but eventually all of your clothes are reduced to ashes and the fire dies down.  Spending money we don’t have in order to boost the stock market, drive down unemployment, and jump start the economy is a very dangerous thing.  I believe the long term effect of this decision will be dramatic increases in interest rates over the next couple of years.  From an interest rate and home price perspective, there has never been a better time to buy a home.  If you’re on the fence, it’s time to jump off!

Let me know if I can help you find a home to buy.  Click the “Search the MLS” link to the right to find the home of your dreams, then we’ll go look at whatever piques your interest!  Call me at 850-678-HOME (4663).

The time is right to buy a retirement home

LOS ANGELES – Nov. 4, 2010 – Money Magazine is urging people a few years from retirement who plan to move when they quit work to consider buying now while home prices and mortgage rates are low.

Buyers who intend to use the place as a second home will pay the same rate as they would pay for a primary residence. If they intend to rent the property out until they retire and they need the rental income to qualify for the mortgage, lenders will consider that an investment property and charge a half to a full percentage point more.  Still, the idea remains “pretty compelling,” says Justin Krane, a certified financial planner in Los Angeles.

Source: Money Magazine, Sarah Max (11/02/2010)

To search homes available for sale in Northwest Florida, click here.

For all but the real estate investor, a home is a need, not just a want.  And guess what?  It’s all on sale!  Home prices are at the lowest they have been in close to 10 years, and interest rates are about the lowest they’ve ever been.  If you’re thinking that you might wait until home prices fall further, you should know that the median home price YTD in Niceville has been about the same as it was in 2009.  That’s right, the median home price hasn’t gone down since 2008.  A recovery is indeed on the way.  In fact, some price ranges of homes are moving very quickly, with homes selling within a week of being put on the market!

From an affordability standpoint, homes haven’t been this affordable since the very early 1970’s.  If you aren’t familiar with the affordability index see my newsletter entitled When were homes cheap?? Posted in April 2009.

Maybe you don’t know whether it’s cheaper to buy or rent?  I can show you using real numbers you provide!  Just give me a call at 850-678-HOME or email me.

On Monday of last week we decided to do it.  On Tuesday after work my family and I walked the street and knocked on every door and handed out simple flyers to every house, no fancy graphics, no special paper, just the facts: 

Neighborhood Fall Block Party: Friday, Oct 8 beginning at 5:30pm

Please come join your neighbors to celebrate the pleasant weather!  You’re invited to a Fall Block Party.  Organizers are Bart and Wendy Swan and kids, (238 Karen).   

We’ll have hot dogs, chili, iced tea, and chips.  Bring anything else you want to eat or drink.  To help cover cost of food, bring 1 dollar per person.  Bring your own chair(s), and let’s have a good time getting to know each other better!  Please RSVP, to Bart and/or Wendy (and we gave our phone number)

The RSVP’s started coming in the next day and continued until Friday afternoon.  We had 40 people show up, and there were still at least 10 adults at 9:45!  The kids had a blast running through the yards, playing football, then playing with flashlights when it got dark.  Flashlight tag is always so much more fun when you have the entire neighborhood as your playground.  On Friday night several neighbors came up and said they had thought of doing something like this for years, and they thanked me for organizing it. The organizing was so easy!!!  You just need a little bit of initiative, and you’ve got a party! 

Since Friday night all of our neighbors wave and have a big smile on their face as they drive by.  Everyone is already looking forward to the next party we’ll have in April.

When I was growing up my Mom used to say, “Bart, you need to go up to people’s doors and say ‘Hi, I’m Bart Swan, will you be my friend?’”  Now, I still can’t see myself doing something like that, but I learned how to make a whole streetful of friends in one evening over hot dogs and brownies.   It made me wonder, when did it become the norm to be strangers in our own neighborhood? 

I encourage you all to try the neighborhood party on your street; even use the same invitation I put above.  If you pass out the flyers by Tuesday evening, you could have a whole driveway full of new friends by Friday night!  And neighbors who are also your friends?  Who could ask for anything better?

If you try this, please comment about your experience!

There are seasons when we must burn the “midnight oil”.  Certainly I understand that.  But if that’s your lifestyle you really shoud think about changing it!  Yesterday evening I got home before 6pm for the first time in a long time.  I ate dinner and then was able to throw the football with my kids; and taught them to play “500″.  It was a great time for everyone but my 2 year old son.  He doesn’t like the fact that his older siblings are faster, and bigger than he is!  By the time it was too dark to play any longer he was in such a melt down mode my wife had to hold him close for a while.  Poor kid!

When was the last time you threw a ball with you kids?  Or simply spent time with them doing something they wanted to do?  Are you consumed with generating income?  Is it really necessary – all the time?  Having spent almost a decade in real estate, I’ve seen commissioned sales people pursue the dollar at the expense of their relationships, their character, and all the other things that were once supremely important to them.  Certainly it can’t be worth that!  As my friend said today, what’s the point of me earning all this money if it’s just going to be spent on a mental health doctor or worse, my casket?  Good advice! 

Relationships and character.  Those are supremely important to me.  I pray I’ll never be identified as one who had his priorities out of whack.  Now, I’m going home for dinner and another game of catch!

Steve Schutt and I have been business partners in mortgage lending for 6 years.  Steve is still passionate about lending and enjoys it very much and has recently joined a company well positioned to maximize his capability.  I look forward to continuing to work with Steve, though in slightly different roles, as I believe there is not a Mortgage Loan Officer anywhere that has a better mastery of lending combined with the utmost integrity and a natural love for people.  Moving forward my newsletters about real estate will include Steve’s comments on the lending environment; in fact, Steve’s comments about his change follow:

I, Steve, have joined PRIME Lending.  PRIME is a bank-owned lending company that even during these challenging times is growing and is well positioned for the future offering a “full menu” of mortgage products.  The location in Niceville (formerly Baker and Lindsey) will become a PRIME Lending location and you’ll see the sign change very soon.  Last month, I was amazed as I saw PRIME take a purchase transaction from application to ready to close in less than a week.  PRIME also has an interest rate float down option that is so good for our customer’s I can’t wait to tell everyone about it!  I know that PRIME Lending will allow me to return to providing the highest level of professionalism and customer satisfaction many grew to expect when Bart and I had our own company.  I am so excited about this new opportunity for both Bart and myself, the reviving health of our local real estate market and the promising future of our local community that I can’t wait to share this new chapter with you!

Are you thinking of buying, selling, or financing a home?  

Please be confident to call on Bart or Steve as we’re continuing to provide “A Professional Approach to Real Estate Sales and Finance!”