Nik Wallenda’s Chicago Tightrope Walk – November 2, 2014

Nik Wallenda plans to arrive in Chicago on Wednesday to prepare for his tightrope walk across the Chicago River this weekend, a variety of restrictions are being announced, ranging from bridge closures to a ban on drones.

Wallenda, 35, has spent the past three weeks practicing in his hometown of Sarasota, Fla., where he rehearsed on the same rigging that will be used during his stunt Sunday evening. He has often practiced at dusk and employed wind machines to help simulate the conditions he may find here.

A seventh-generation member of the famed Flying Wallendas, he is slated to begin his walk at 6 p.m. and finish within two hours. He repeatedly has said he will not use a harness or a net.

Organizers are expected to cancel the event if winds exceed 50 mph. Current forecasts call for a high of 49 degrees Sunday and wind speeds around 14 mph.

I have trained immensely here in Sarasota and am more than prepared physically and ready to go,” he told reporters. “But the unknowns are, of course, Mother Nature, and that’s really the one thing that we can’t control. I do my best to train in it here in ‘real world’ weather … so I’m feeling very, very confident.”

Wallenda plans to walk more than two city blocks — uphill at a 15-degree angle — between the 534-foot-tall Marina City west tower and the 635-foot-tall Leo Burnett Building. He then will ride an elevator down to the street and return to the west tower, where he plans to be blindfolded as he crosses to the east tower on a tightrope.

Marina City residents have received a set of rules in advance of the stunt, including restrictions on parking and the number of visitors allowed. Residents are also barred from using drones or laser pointers, blaring music, grilling, yelling or taking pictures with flash cameras during Wallenda’s walk.

We are all very excited to be a part of this historic event,” a letter from building managers states. “Marina City will be on the world stage and we want to make a favorable impression, ensure your safety and that of Nik Wallenda and his crew.”

The letter warns that any violations will “be dealt with severely.”

Spectators also will face restrictions, as the city plans to close bridges at State Street and Dearborn Street from 5 p.m. Sunday to midnight. Wacker Drive will be closed on the south side of the river between Clark Street and Wabash Avenue during that same time.

The river will be closed to watercraft from 6 to 8 p.m.

The city has designated two public viewing areas along the south side of the river. The spots will be on Wacker Drive from Clark Street to Dearborn Street, entering from Clark, and Wacker Drive from Wabash Street to State Street, entering from Wabash.

In preparation for the event, the city also will close Wacker Drive from Dearborn Street to State Street from 9 p.m. Thursday to 6 a.m. Friday. The Dearborn Street and State Street bridges also will shut down during that time for the setup of stage and production areas.  

http://www.skyscraperlive.com/360.html

Easing Mortgage Lending Requirement

Easing mortgage lending requirements will provide great assistance in furthering the housing rebound.

Regulators promise thaw in mortgage credit underway

Regulators who oversee Fannie Mae, Freddie Mac and the Federal Housing Administration are telling mortgage lenders that they’re ready to cut them some slack, and mortgage lenders say they’re ready to run with the ball.

Speaking at the Mortgage Bankers Association’s annual convention, Mel Watt — who runs Fannie and Freddie’s regulator, the Federal Housing Finance Agency — said a pact with the mortgage giants to be unveiled in coming weeks should ease many of the fears lenders have about extending credit to riskier borrowers.

Revisions

Watt confirmed media reports that FHFA has reached an agreement with Fannie and Freddie on revising the representation and warranty requirements, and said lenders can expect to get more clarity in coming weeks. The revisions will still allow Fannie and Freddie to demand that loan originators buy back a loan at any time when there has been a “pattern of misrepresentations or data inaccuracies,” Watt said.

Fannie and Freddie will be able to bring back programs allowing them to guarantee some mortgages with down payments of as little as 3 percent. Like other loans made to borrowers making down payments of less than 20 percent, Fannie and Freddie will require them to obtain mortgage insurance at additional expense.

Positive News for Mortgage Lending

Mortgage Bankers Association President David Stevens called Watt’s speech, and similar remarks from Housing Secretary Julián Castro, “extraordinary announcements and extremely positive” for mortgage lending, the Wall Street Journal reported.

In his address, Castro noted that even former Federal Reserve Chairman Ben Bernanke has said that he had trouble refinancing his mortgage.

“If the former Fed chair is having trouble, imagine the frustration of average folks,” Castro told mortgage bankers. “The pendulum has swung too far in the other direction. There’s been a vacuum in the market and it needs to be filled.”

Inman News 10/2014

Sarasota Named Among Top Small Towns for Luxury Home Buyers

beau-ciel viewWhat do the Principality of Monaco and the city of Sarasota have in common? According to Christie’s International Real Estate, they are two of 10 of the most popular small communities for wealthy home buyers.

In Luxury Defined, Christie’s report on the luxury residential property market in 2013, Sarasota is listed as a “Jewel Box Market,” which is characterized as a community with a population of less than 150,000 that has a large percentage of wealthy residents and “quality lifestyle offerings.” The report cites the 8% of the local properties worth $1 million or more and a positive trend in the luxury market last year as reasons for Sarasota’s inclusion.

“Jewel Box” markets as defined by Christie’s International Real Estate include:

  •  Bedford, N.Y.
  •  Jackson Hole, Wyo.
  •  La Jolla, Calif.
  •  Martha’s Vinyard, Mass.
  •  Sylt, Germany
  •  The Principality of Monaco
  •  Montecito, Calif.
  •  Punta del Este, Uruguay
  •  Lugano, Switzerland
  •  Sarasota

Don’t Miss Opportunity for November 2013

Season of Sculpture – Downtown Sarasota

Grand Opening November 16
Bayfront Park
Exhibition runs through May 2014

Printable Version

 

Holiday Arts and Crafts Show today and tomorrow

courtesy of Art Attack blog

 

Today marked the jolly (and busy) start of the Downtown Sarasota Holiday Arts & Crafts Show.  Plenty of people came out for a last-minute gift for their loved ones or a beautiful piece for their own home decor.  You can still catch the artists tomorrow from 10:00am to 4:00pm at Five Points Park.

 

 

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Something fun and useful

What a fascinating video from Sotheby’s!  Beautiful, artful and informative…see it for yourself!

 

 

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See a dance legend for free at RIAF

Want to see dance legend Mikhail Baryshnikov (named the greatest ballet dancer in history) at the Ringling International Arts Festival with Mark Morris Dance Group?  How about two tickets for free?  There are just two days left to win them, so click here for details and to enter!

 

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Drum Circle every Sunday on Siesta Key Beach

Siesta Key Beach has more than seashells and award-winning crystal sand to offer: every Sunday the Drum Circle draws Sarasotans and tourists to gather, listen and dance.  Cap your weekend off with this free, fun activity from an hour before sunset to 10:00pm.

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Sarasota Blues & Music Festival

Catch award-winning performing artists from around the country on Saturday afternoon at the Sarasota Blues & Music Festival. Bring a lawn chair to the Ed Smith Stadium at 11:00am and feel anything but blue!

Tickets and details at:

http://www.sarasotabluesfest.com/

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Condominium sales strong in Sarasota

Condominium sales and pending sales are consistently up in our area – spend a few days exploring Downtown Sarasota’s  entertainment, restaurants and nearby beaches… you’ll see why! 

Read the Sarasota Herald Tribune’s article here.