ACCREDITED LUXURY REAL ESTATE SPECIALISTS
This October Newsletter, 2015, will update your on the latest information regarding real estate and events happening on 30A. There are some new things happening in the finance and lending world relating to the purchase of second homes and residential vacant land.
If you have any questions about the information found in the October Newsletter, please give me a call to discuss further.
If you are looking to purchase or sell property, please give me a call for your free market analysis.
Fleming’s Prime Steakhouse & Wine Bar Presents and Evening with David Arthur Long of David Arthur Vineyards.
A very special event is coming to Fleming’s Prime Steakhouse & Wine Bar in Destin: A wonderful evening with David Arthur Long of David Arthur Vineyards enjoying inspired creations containing varieties of David Arthur Wine by Chef Innocent Utomi.
The history of David Arthur Vineyards and the Long Family in the Napa Valley reaches back a half-century to the 1950s. At that time, Don Long began investing in land on Pritchard Hill. His vision and commitment to build a legacy and business for his family led to the acquisition of nearly 1,000 acres. Almost two decades later his son David began planting vines on the property. Today, two generations work together to continue the family tradition at David Arthur Vineyards.
Chef Innocent Utomi was born in Nigeria, and credits his Mother with instilling in him a passion for food and cooking. Chef Utomi left Nigeria to pursue a business degree in London, while at the same time studying his true passion, food, under a renowned chef. He then left London to continue an accounting degree in Rhode Island, all the while his passion for food was on his mind. Chef Utomi then relocated to Florida, and finally set his sights on his true passion. Gaining experience at many top notch restaurants in Miami, his craft took on a multi-national flare. He is credited with helping the Capital Grille develop a menu and train Chefs to expand the franchise to more than 40 restaurants. He then took the opportunity to move to our area here on the Emerald Coast and partner with Fleming’s Prime Steakhouse & Wine Bar and is responsible for the world renowned cuisine served there.
At this particular event, Chef Utomi will be preparing:
First Course – Seared Scallop with Mango Salsa and Toasted Sesame Seeds – Featuring David Arthur Vineyards Annalyce Rose Napa Valley, 2013
Second Course – Sea Bass topped with Jumbo Lump Crab Meat and Caviar on a bed of Corn Pudding with Champagne Cream Sauce – Featuring David Arthur Vineyards Chardonnay Napa Valley, 2013
Third Course – Mustard Crusted Lamb Chops with Goat Cheese Potato and Meritaggio Red Wine Reduction – Featuring David Arthur Vineyards Meritaggio Napa Valley, 2013
Fourth Course – Kona Crusted Wagu New York Strip Steak with Orange Shoyu Demi – Featuring David Arthur Vineyards Three Acre Cabernet Sauvignon Napa Valley, 2011
Dessert – Chocolate Mousse Pecan Cake – Featuring David Arthur Vineyards Elevation 1147 Cabernet Sauvignon Napa Valley, 2012
The price of admission to this wonderful event is $180 + Tax and Gratuity. RSVP to Fleming’s Prime Steakhouse & Wine Bar by calling (850) 269-0930.
This event is sponsored by Chip Peay, Sales Associate with Homes On 30A.
The most closely watched economic news last week was Wednesday’s Federal Reserve meeting. The Federal Open Market Committee statement was a little more upbeat about the economy than expected, as the Fed upgraded its assessment of the performance of the labor market. This was unfavorable for mortgage rates, but the reaction was small—and mortgage rates ended last week just a little higher.
As widely expected, the Fed announced that its Treasury and mortgage-backed security (MBS) purchases will conclude at the end of October. However, there was little reaction. Over the last few years, these bond purchases, described as quantitative easing, helped push mortgage rates down to the lowest levels in decades. The Fed became the eventual investor in the majority of mortgages originated during the bond purchase program. The Fed’s balance sheet expanded to roughly $4.4 trillion from less than $1.0 trillion in 2007.
The true market reaction to the end of quantitative easing took place in May of 2013 when the Fed first indicated that it was going to gradually wind down the program. That caused mortgage rates to increase from historic lows. Since the announcement, the tapering has taken place at the anticipated pace with little additional impact. At some point, though, Fed officials will begin to reduce the size of their MBS holdings. When the Fed makes that announcement, mortgage rates could be affected.
The market commentary material provided is from a third party vendor, MBSQuoteline, and is not necessarily the opinions of the sender or the organization they represent. This information is intended for educational purposes only and should not be construed as investment and/or mortgage advice.