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Prudential Florida Realty Attends Top Leadership Conference


Prudential Florida Realty was one of 50 top companies honored from within the Prudential Real Estate Network to attend the Gibraltar Circle Conference at The Breakers, Palm Beach, Florida, June 13-15. Prudential Florida Realty was selected to participate in the prestigious conference after achieving a #6 Network ranking based on revenue and other criteria.

"Gibraltar Circle stands for the best of the best in the Prudential Real Estate Network," said Earl Lee, president, Prudential Real Estate and Relocation Affiliates, Inc. "These companies performed at the highest levels in 2009, earning distinction for their operating efficiency, customer service, consultation."

Exemplary performance begins with sound leadership, added Lee. "Gibraltar Circle brokers/owners met market challenges head on, seized opportunities and implemented best practices. The decisions they made and the strategies they pursued during a challenging 2009 have positioned their companies for growth and prosperity."

Rei L. Mesa, President & Chief Executive Officer, of Prudential Florida Realty said, "Our Gibraltar Circle is a credit to the hardworking professionals of Prudential Florida Realty. "Our team members truly care about our customers and are passionate about the real estate profession."

Mesa added that the Gibraltar Circle Conference was an ideal opportunity to network and share best practices with fellow honorees. "It's always helpful to compare perspectives and ideas with my colleagues, the industry's finest brokers and owners."

Conference honorees also attended inspirational and strategic presentations.

Prudential Florida Realty, Florida Real Estate Services is the #1 Prudential affiliate in Florida has over 40 locations and more than 1,800 real estate associates throughout Florida. Since its inception in 1999, the company has quickly become the 2nd largest residential real estate brokerage in Florida and is ranked the 26th largest residential real estate firm in the nation based on sales volume. It is also the 6th largest brokerage in the nation among the Prudential Network brokers across North America. The company offers residential and commercial services as well as seasonal rentals, property management, REO & Foreclosures, corporate relocations, referral services, mortgage, title, insurance and home warranty services. Prudential Florida Realty, Florida Real Estate Services includes Prudential Florida Realty, Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage, Florida Title & Guarantee and Florida Home & General Lines Insurance. Prudential Real Estate proudly supports the Sunshine Kids Foundation to help raise money for children with cancer. For more information, visit

Prudential Real Estate and Relocation Services, Inc. is Prudential's integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated. Companies are selected based upon outstanding performance records, high levels of customer service and shared business values with those of Prudential. Prudential Real Estate provides franchises with business strategies using Operation Reviews as well as numerous benefits, including access to Prudential Real Estate's Online Seller AdvantageSM program designed to provide real-time information to sellers with the touch of a keystroke; and Online Buyer AdvantageSM, which enables consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with nearly 1,700 franchise offices and approximately 60,000 sales professionals in the franchise Network as of March 31, 2010.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit

Bad News: Pending home sales drop as expected/ Good News: Prudential Florida Realty & Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage Announce The Home Buyer Mortgage Credit


Home affordability stands at near all-time highs thanks to attractive house prices and historically low mortgage rates.

These favorable conditions, like the tax credits, could go away soon. Don't miss the housing opportunity of a a Prudential sales professional today to open the door to your new home.

Pending home sales drop as expected

WASHINGTON – July 1, 2010 – Following a surge driven by the homebuyer tax credit, pending home sales fell, according to the National Association of Realtors® (NAR). To qualify for the credit, homebuyers needed a signed contract by April 30, 2010.

The Pending Home Sales Index (PHSI), a forward-looking indicator, dropped 30.0 percent to 77.6 based on contracts signed in May from a reading of 110.9 in April, and is 15.9 percent below May 2009 when it was 92.3. The falloff comes on the heels of three strong monthly gains as homebuyers rushed to take advantage of the tax credit.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. However, many closings have been delayed recently from a rush of buyers into the system and slow processing of short sales, in addition to the heavy volume and a more thorough loan underwriting process.

"Consumers are rational and they rushed to meet the (April 30) tax credit eligibility deadline in April," says NAR chief economist Lawrence Yun. "The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June. Surprisingly, though, some local markets such as Portland, Maine, and Jacksonville, Fla., actually experienced an increase in contract signings from a year ago without the tax credit.

"Existing-home sales that close in June will remain elevated, but we'll then see a notable decline for July and August."

A lapse in the National Flood Insurance Program also contributed to the decline in new contracts. Many lenders were hesitant to approve mortgages on homes that require flood insurance without congressional action, and numerous sales have been on hold.

Yun noted that the tax credit broadly stabilized home prices. "Without the tax credit, there will be more aggressive price negotiations between buyers and sellers," he says. "The key test on whether the housing market can stand on its own without stimulus medicine will depend critically on private sector job creation in the second half of the year. We'll also keep a close eye on market conditions on the Gulf Coast."

Through May of this year, 495,000 net private sector jobs have been created; NAR's forecast for employment growth is about 1 million additional net new jobs over the balance of the year and another 2 million in 2011.

"If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions," Yun said.

"In most areas of the country there will be no sharp snap back in home prices in the upcoming years, although some local markets have experienced double-digit gains this year," Yun said. NAR forecasts the national median home price to rise only 4 percent cumulatively over the next two years.

"One factor that could lead to price acceleration in upcoming years for some markets is if the very low levels of new home construction were to persist for another year or two," he added.

The PHSI in the Northeast fell 31.6 percent to 67.0 in May and is 14.8 percent lower than May 2009. In the Midwest the index dropped 32.1 percent to 70.8 and is 20.2 percent below a year ago. Pending home sales in the South fell 33.3 percent to an index of 82.5, and are 14.4 percent lower than May 2009. In the West the index declined 20.9 percent to 85.3 and is 15.1 percent below a year ago.

© 2010 Florida Realtors®

Now the Good News!

Sunrise, Florida April 29th, 2010- Prudential Florida Realty & Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage Announce "The Home Buyer Mortgage Credit" Incentives!

Timing is everything!

The Federal "First Time Homebuyer Tax Credit" expires on April 30, 2010. Prudential Florida Realty, in conjunction with Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage, is picking up were the Federal Government left off. We are proud to offer "The Home Buyer Mortgage Credit", which includes incentives for all buyers to achieve the dream of homeownership in Florida.

Beginning on May 1st, qualifying home buyers under current product and program guidelines will receive a lender paid 1% Interest Rate Reduction for the 1st Year on a Fixed Rate Mortgage financed through Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage properties under contract by July 31st, 2010. Home Buyers & Sellers can also take advantage of exceptional customer services, security and on time closings with Florida Title & Guarantee.

In addition, starting May 1st, participating Prudential Florida Realty Home Sellers will offer up to 3% of the purchase price for buyers to use toward a closing cost credit or a concession on their mortgage rate for properties under contract by October 31, 2010.

We are not limiting the amount of the credit to simply the $8,000; but, offering a true sellers mortgage closing cost credit of up to 3% of the purchase price on participating Prudential Florida Realty properties throughout Florida! Sellers of participating properties can either offer buyers an option to buy down the interest rate on the borrower's loan or help pay for closing costs!

With these types of incentives, buyers can afford a broader range of homes. Sellers will be able to increase the number of buyers able to qualify for their property and can be a key differentiator in the market place.

Whether it is a first home or a second home, Prudential Florida Realty is confident that now is the time to buy!

With Florida's affordability rate at the highest it's been in nearly 40 years; historically low interest rates, motivated sellers, and the need for smart financing options, like the 1% Interest Rate Reduction offer from strong, partners like Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage, Prudential Florida Realty, is well positioned to assist home sellers & buyers with all their real estate needs.

Prudential Florida Realty properties participating in the 3% credit will be featured in, the #1 website for Real Estate in the World with an easily identifiable banner: "Home Buyer Mortgage Credit Property!" And will be featured on our company website at Additional promotion for these qualifying properties and offers will be provided on Facebook and Twitter.

For home buyers and sellers to take advantage of "The Home Buyer Mortgage Credit" Incentives, contact your local Prudential Florida Realty Sales Professional at, or contact one of our Home Mortgage Consultant at


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