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Published by Vero Beach 32963 Media, 2016-12-08 12:20:44

VB32963_ISSUE49_120816_OPT

VB32963_ISSUE49_120816_OPT

56 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

HEALTH

Genetic-based treatment adds to cancer-fighting arsenal

BY TOM LLOYD Dr. James Grichnik and Oncology Patient Navigator Sandra Webster. PHOTOS: DENISE RITCHIE area residents can get involved in
this new approach to diagnosing
Staff Writer phorylating and CTLA4 molecules” them right here.” cancer risk and treating cancer,
– can be a little daunting to the lay- It is important to note that, de- Grichnik turns to registered nurse
Dr. James Grichnik’s enthusiasm man. and cancer navigator Sandy Web-
about bringing genetic counsel- spite rapid and dramatic progress, ster.
ing and testing for cancer to Vero Still, when Grichnik pauses and gene-centric approaches to fight-
Beach, along with newly developed claims that, at least in theory, “we ing cancer are still in their infancy. “Out in the community,” says
genetic-based cancer treatments, is can sequence your DNA, find a mu- There is no ironclad cure for cancer Webster, “if a provider [primary
palpable. tation and give you a drug that melts at Scully-Welsh or anyplace else. care or specialist] is doing a family
your cancer,” that alphabet soup of Not yet. history assessment and is picking
“I really do view this as an excit- tech talk starts to seem well worth up that there might be some his-
ing, cool time. We are now begin- comprehending. Still, Grichnik seems so intensely tory of ovarian, breast, pancreatic,
ning to see patients being cured in optimistic that it’s difficult not to melanoma, colon [or other cancer],
ways that I couldn’t have initially “We [at Scully-Welsh] have ac- get caught up in his excitement. they can send a referral our way and
imagined,” exclaims the youthful- cess to all the FDA-approved drugs: ask us to do an assessment on the
looking Grichnik, who ignores the the BRAF inhibitors and the MEK “Something on the order of 10 to patient … to see whether they have
constant beeping of his cellphone inhibitors; the PD1 inhibitors; the 15 percent of cancers may very well an inherited risk.”
and focuses, instead, on this latest CTLA4 inhibitors. We’re using all of be related to your genetics,” Grich-
innovation in cancer research and nik explains. “What you inherited That family history is key and
treatment. from mom or dad. Having knowl- both Grichnik and Webster admit
edge of those mutations may help that can be difficult to come by.
According to the American Can- us in different ways to guide your Relatives pass away, people move
cer Society, “Advances in genetics care. If you’re at high risk for a par- and those who were adopted and
and molecular biology have im- ticular cancer, we can increase sur- don’t know their birth parents start
proved our knowledge of the inner veillance, which might allow us to out with a definite disadvantage.
workings of cells and how cells can detect the cancer at a point where Still, Webster says through the ge-
change during a person’s life to be- it’s much easier to cure.” netic cancer counseling sessions,
come cancer and how certain types as much information as possible is
of changes can build on inherited Grichnik quickly adds that not gathered and sent to Scully-Welsh’s
gene changes to speed up the de- all cancer-causing gene mutations partners at Duke Health.
velopment of cancer and how this are inherited. Environmental fac-
information can help us better pre- tors including asbestos and various “Duke,” Webster explains, “has
vent and treat cancer.” chemicals, exposure to ultra-violet a whole hereditary cancer clinic.
light as well as cigarette smoking – They look at it. They talk between
“Right now, a lot of the genetic which Grichnik blames for almost the counselors.
counseling is based on what are the 50 percent of all cancer deaths –
likely genes in your family, but we’re also cause mutations that result in “Those counselors are Ph.D.’s and
now moving more toward bigger cancer. they’re certified in genetic counsel-
panels where we look at essentially ing and everybody decides whether
all the genes that might be associ- For the mechanics of how Vero or not this person meets criteria af-
ated with or that have a high risk for ter looking at the actual family his-
cancer,” says Grichnik, director of tory.” If those criteria are met, blood
the Scully-Welsh Cancer Center at tests may be offered to provide the
Indian River Medical Center. Duke and Scully-Welsh teams the
DNA evidence needed to proceed
Much of the technical terminol- further.
ogy Grichnik tosses into each rapid-
fire sentence – including terms such “Most insurances,” says Webster,
as “NRAS mutations, DNA repair “are jumping on board with this.”
pathways, V600E mutations, MEK The cost for a counseling session is
and ERK molecules, proteins phos- $200. The price for blood tests, if or-
dered, may vary, but many insurers
are willing to pick that up.

Why? Because, as Grichnik states,
the three-pronged approach of de-
veloping new drugs to eradicate
cancerous mutations, blocking the
pathways mutated genes use to
spread and activating the body’s
own immune system to better
fight those mutations have all been
showing impressive clinical study
successes.

Genetic counseling for cancer is
now being offered at the Scully-Welsh
Cancer Center adjacent to the Indian
River Medical Center. The number
there, for those who want more infor-
mation about this promising medi-
cal approach, is 772-226-3762. 

Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 57

HEALTH

Chew on this: Caffeinated gum gives athletes a boost

BY AMANDA LOUDIN the gum as an additional aid to her participants who typically ingest less
established carbohydrate intake. “I than a typical cup of coffee per day
Washington Post use my normal drink as my fuel and supplement with the equivalent of
the gum as an energy boost later in three milligrams per kilogram per
Elite marathoner Tina Muir is gun- the run,” she says. day for 28 days to test their reactions
ning for a personal best this month to caffeine supplementation just be-
when she toes the line at the California Another issue to keep in mind is fore physical activity. They conclud-
International Marathon in Sacramen- that a recent study in the Journal ed that the athletes built up a toler-
to. This will be her fifth go at the dis- of Sports Medicine revealed that ance for the caffeine and thus did not
tance. She continuously works to dial those who habitually consume large benefit from a supplement of caffeine
in exactly the training and nutrition amounts of caffeine develop a toler- just before activity. 
approaches that will help her shave ance to the aid. The researchers had
precious minutes off the clock. Her lat-
est addition to the regimen? Caffein- the biggest gain came in the final 10 ki-
ated gum. lometers of a 30K time trial. “The gum
improved both endurance and sprint-
One of the newer entrants to the ing power at the end of the effort, most
burgeoning sports-nutrition market – likely through an increase in nervous
expected to reach $52 billion by 2020, system activation,” he says.
according to Transparency Market
Research – caffeinated gum promises A separate study he conducted in
to deliver a faster burst of energy than 2010 on male cyclists also found that
other ergogenic aids because it doesn’t the caffeinated gum delayed fatigue
have to pass through the digestive sys- during repeated, high-intensity sprint
tem. Muir is a believer. “I have tried exercise. In this study, researchers
caffeinated gels before and liked them, measured testosterone and cortisol
but they took a while to take effect,” concentrations and determined that
she says. “It’s tough to wait 10 minutes the gum elevated the former while
when you are tired and in need of a reducing the latter. Higher levels of
boost in the later miles of a race.” testosterone are shown to improve
performance, while cortisol is a stress
The gum, she says, hits her system hormone that has been shown to hurt
right away. “I took the gum at mile 14 it.
of a 20-mile progression run, where I
had to continuously pick up my pace,” It is for all these reasons that Olym-
she explains. “I noticed an immediate, pic runner Nick Symmonds developed
significant difference with the gum. a caffeinated gum targeted to endur-
In particular, I was clear-minded and ance athletes. He likens his “Run Gum”
could tackle any doubts I had at that to an energy drink such as Red Bull,
point in the run.” without any of the potential digestive
distress that sometimes accompanies
Muir is experiencing exactly what such performance aids. “You want to
she should with the gum, says Kristina improve performance, but you don’t
LaRue, an Orlando-based registered want to fill up,” he says. “Gum is a bet-
dietitian specializing in sports nutri- ter delivery vehicle.”
tion. “Caffeine is a well-studied per-
formance enhancer,” she says. “It can Like Muir, 52-year-old runner Matt
make the load feel easier and does help Ingram, of Plano, Texas, is a recent
with focus and clarity.” convert to the gum. “I’ve never been a
big supplement person,” he says, “but
Up until 2004 the World Anti Dop- the gum can make the first few steps a
ing Agency placed limits on caffeine little bit easier for me.”
intake, but it is so ubiquitous that it
dropped the limit. It is still, however, Ingram competes in 400-meter and
banned at the NCAA level. 800-meter masters’ races on the track,
with the occasional 5K on the docket
Carl Paton, an associate professor in the off-season. “I use the gum both
at New Zealand’s Eastern Institute of in training and in racing,” he says. “I’ll
Technology, has conducted three stud- chew it about 10 to 15 minutes ahead of
ies on caffeinated gum and its impact time and can feel its effects right away.”
on performance in endurance sports.
“You get similar effects to gels and tab- For all its upsides, however, Paton
lets, but it’s absorbed faster, and you cautions athletes that they shouldn’t
may not need as big of a dose,” he says. depend solely on caffeinated gum. “In
a major endurance event, you can’t
He concurs on Muir’s also experi- survive on the gum alone,” he says.
encing a mental boost. “Caffeine has “You’ll need carbohydrates, too.”
the benefit of reducing the perception
of fatigue, so you can potentially run Muir understands this and is using
harder with it in your system,” he says.

In a 2014 study on the impact of the
gum on the race performances of male
and female cyclists, Paton found that



















Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 67

WINE COLUMN

Why Madeira wine is a must for the Christmas holidays

BY SUSY ATKINS
The Telegraph

Is there any drink so gloriously old- cooking process. Surprisingly dry and tangy, this is lasses. Very soothing on a cold night
fashioned as Madeira? I mean proper So it doesn’t matter when you de- full of the perky, fresh flavors of fig, and fab with dark chocolate.
ye olde, and festively Dickensian (or peach and apple, and has a linger-
Poldarkian, if you prefer): mahogany- cide to drink it up, even well into next ing walnut finish. Chill lightly before Broadbent 5-Year-Old Reserve Ma-
hued and glinting in a small glass by year – but what with the odd sip, and serving. deira
candlelight. a judicious splash into stews and gra-
vies, it probably won’t last that long. Henriques & Henriques 10-Year- Cinder toffee, dried citrus peel,
Made only on the Portuguese island Old Malvasia Madeira roasted nuts and burned marma-
of its name, Madeira is a “cooked” wine Try these lade mingle in this complex Madeira,
which was fortified with spirit and Blandy’s 10-Year-Old Sercial Ma- Darker, with sweeter, richer nuanc- which finishes on a fresh note. One to
held in casks as ballast on long tropi- deira es of walnuts, espresso and black mo- savor – and a great gift idea. 
cal sea journeys during the Age of Dis-
covery. The hot holds of the ships pro-
duced a caramelized, slightly burned,
nutty style of wine that became hugely
popular.

What with the odd sip, and a judi-
cious splash into stews and gravies,
your Madeira probably won’t last that
long.

Today it is warmed in the wineries
for the same effect – a process called
estufagem. Much of the Madeira on
our shelves is sweet (malmsey, aka
malvasia, is the main grape): a rich
dessert wine to marry with dark
chocolate, mince pies or Christmas
pudding.

But do track down the more inter-
esting drier versions: The Verdelho
grape delivers medium-dry styles that
are brilliant with hard cheeses, while
sercial Madeira is fresh and tangy as
an aperitif or with toasted nuts and
charcuterie. The labels usually state
clearly which is which.

Then there’s Madeira’s legend-
ary longevity. Fine labels (dodge
any cheap versions) seem to stay
fresh forever, even when opened, as
they’re preserved well through that

68 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

Vero & Casual Dining

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Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 69

Vero & Casual Dining

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70 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

Vero & Casual Dining

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Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 71

Vero & Casual Dining

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72 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

Vero & Casual Dining

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Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 73

PETS

Bonzo says for a cool Catahoula, Sug is spot-on!

Hi Dog Buddies! “I reckon it is. Wouldn’t trade it for Sug (as in “sug-ar”) the Catahoula Leopard. PHOTO BY DENISE RITCHIE
nothin’! Me and Daddy usta go huntin’
This job NEVER gets old! This week I met out on the lease. He taught me trackin’! this ol’ stray cat out here, Rusty. Him
a genu-wine Florida Cracker pooch named I hadda wear a harness. When Daddy
Sug (as in “sug-ar”) Gunter. She’s a super put it on me, I knew we were going to and me do lotsa chasin’ around. I’ll zoom can always go fer a nice carrot or
pretty Catahoula Leopard dog who works at work. Then he’d clip on this 25-foot-
the Indian River Farms Water Management long static line, so he could keep track o’ up and swoosh the feet right out from under some chicken jerky. Or crunchy ice. Throw
District office with her Dad, David, who’s The me but not have to get drug through a
Boss. lotta underbrush. I learned how to trail him and he goes a’flyin’. Then he’ll go to his- some ice in my dish, I’m good all afternoon.
a scent like you wouldn’t buh-LIEVE,
It was already burnin’ daylight, but still and I never got tricked by a false trail. sin’ at me. So I give him a big ol’ bark. Yep, Then, at 9 p.m., Daddy’s snoring in fronta
early, when me and my assistant got to Sug’s I can follow a scent for half uh mile cuz
office, out in the boonies, and she’d already I have an outstanding nose and Super good ol’ Rusty. I usta play Frisbee with Dad- the TV: I wake him up, he gets my treat, and
been workin’ for a while. The nice reception- Pooch hearing! Daddy even used me
ist, Debbie, led us back to where Sug was, a to teach other humans about track- dy. I’d jump way high to catch it. But I blew I curl up in my good ol’ crate, my safe zone. I
big kinda garage with a bunch of machines. ing. We’d go out on the lease and I’d
Sug gave a coupla friendly woofs (nice alto git to RUN! I LOVED it!! Now I’m con- out my ACL and hadda have surgery. I was never get scolded when I’m in my crate.”
voice) to let us know she was In Charge, then sumed with squirrels. They like tuh
came up for the Wag and Sniff. aggravate the spots right off me, but on leash rehab for 3 months. Like to drove Dog, the time went by fast. Heading
now I got them little critters figgered
“Hey there, Bonzo, honey. I’m Sug Gunter. out. I go into my Cat Creep and park me and Daddy crazy. So no more Frisbee.” home, I was wonderin’ what it’d be like to
This here’s my Daddy, David. And this’s my myself right by the bird feeder so they can’t
buddy, Tim. He works here, too. You met get at it. Drives ‘em nuts!” “Soggy Dog Biscuits!” track something like Sug does. I dunno know
Debbie, right? My Momma’s Alice. She’s
home.” “Of uh mornin’, I’m out in the compound, “Mostly I just wanna be with Daddy. If if I’d have enough concentration.
makin’ sure the guys get goin’ on their equip-
“Pleased to meet you Miss Sug,” I said. ment, with No Loiterin’. And I ride shotgun he hasta leave me in the office, I give him Unless it was pizza. Yeah, I’m pretty sure I
Her short coat was all white ‘cept for her dark in the truck with Daddy. We Check Stuff Out.
brown face and ears. And showin’ though I got my own travel crate (got one at home, the Stink Eye. But when he’s workin’ on the could track a nice pepperoni pizza. 
her hair were lotsa dark polka-dots (like too). With camo covers. When there’s just me
leopard spots) all over her pink skin. She had and Debbie in the office, if I detect a sound welder or somethin’, it gets real loud and
a white blaze, black mouth, brown eyes with or smell that don’t seem right, I make a pretty
ice blue around the edges, and the cutest good racket. I can sound real scary, too! Bad there’s sparks a’flyin’, so I go outside. If the The Bonz
half-bobtail. guys do NOT wanna mess with THIS pooch.” door shuts, I go around to the front and look
in the window so’s Debbie’ll let me back in.”
We went into her office, and Sug settled “No Woof!” I exclaimed. “So, you’re the
into her daybed. “You’re a Florida native, I Water Control District Official Mascot, “How do you keep your coat shiny?” Don’t Be Shy
hear,” I said. right?” “Well, sometimes I get a hankerin’ to roll
in something, you know? Then go share it We are always looking for pets
“Yessiree. My Forever Daddy had met “Yup! I’m also Daddy’s Official BS Detec- with Daddy. So pretty quick he hoses me with interesting stories.
my pooch Mom’s sister, Aunt Scout. She tor. Soon as I detect any Bogus Stuff, I go off on the patio. I used to shower inside, till
was a cur dog, and he liked her right away. right up to the person and just stare.” Momma remodeled.” To set up an interview, email
So when Daddy heard my pooch Mom and
Dad – a cur and a Catahoula Leopard, living “Bogus Stuff. Of COURSE.” I managed. “Any favorite foods?” [email protected].
on a ranch up near Claremont – were expect- “Daddy says it’s ‘specially helpful when
ing puppies, he said, ‘I Want One!’ So him an we’re in important meetings with LAW-yers.”
Momma went up and picked ME outta the “I SEE,” I replied, skillfully changing
litter. I rode back home with ‘em. That was the subject. “Whaddya do when you’re off
in February 2013, and I’ve been ridin’ with work?”
Daddy every day since.” “Play with my human niece and nephew,
Lily an Tripp. Play in the sprinkler! An we got
“Sounds like an exciting life,” I said.

“I got ALLERgies, so I get special kibbles. I









78 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

REAL ESTATE

New John’s Island home is a study in elegant sophistication

BY STEPHANIE LABAFF “Spectrum did several furniture lay-
outs to plan the space accordingly,” ex-
Staff Writer plained Whitfield. “During the design
and development stages, they were
Tucked away on a quiet cul-de- able to make alterations to the plans.”
sac in the heart of John’s Island, the
newly constructed home at 250 Sa- The formal area serves as a buffer
bal Palm Lane is a study in sophisti- between bedrooms and entertain-
cated elegance. ment areas. To the right, the gourmet
kitchen and family room blend seam-
The 5,614-square-foot classic Geor- lessly under the inverted hip ceiling.
gian residence overlooks the eighth hole An oversize island, glass-faced cus-
on the south golf course. Situated among tom wood cabinets and stainless steel
lush native foliage, homeowners enjoy Wolf/Subzero appliances provide any
privacy on this pie-shaped lot conve- chef with the space and tools needed
niently located just a short walk or bike for culinary magic or every day cook-
ride away from community amenities. ing. The milk glass backsplash adds
just enough contrast with the panel
When designing the home, archi- appliances to give the room depth.
tect Rob Atkins took advantage of the
width of the lot and spread the house Just off the kitchen, a covered porch
out, creating a haven with generous with summer kitchen offers a perfect
living spaces. spot for entertaining, equipped with
a mini refrigerator, gas barbecue and
Approaching the house, the sense fireplace. The porch is situated a few
of symmetry is accented by 10-foot- short steps from the pool area so you
high entry doors with traditional Tus- can keep an eye on the kids while sip-
can columns and French doors that ping wine or cooking up some burgers.
command a street presence.
“The cabana is separated by the
The walnut wood floors and 12-foot porch, which is a unique feature in
coffered ceilings complement one that it allows guests to have some pri-
another to create a warm setting for vacy,” said Atkins. “It stretches out,
the formal living and dining areas. so the little porch is intimate with
French doors open onto the veranda the fireplace. It’s a nice little place to
for a perfect view of the golf course hang out.”
and waterline pool. A gas fireplace
and hearth add just the right amount The cabana guest house is spacious
of warmth to the room; there is an ad- with a full bathroom. The ginger
jacent powder room for convenience. Yam Hamelich flooring made with
polished marble pebbles is set off by
By consulting with Spectrum In- a double vanity with Crema Venato
terior Design and contractor Travis countertop.
Whitfield during the development
phase, Atkins was able to design a “The owner’s wish to create a qual-
versatile, family-oriented home with ity home shows throughout the house
plenty of living space.

Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 79

REAL ESTATE

with the high level of detail,” said it still gives the room a little bit of
Spectrum designer Shelly Craft. “The pizazz,” continued Craft as she ex-
custom wood ceilings add character plained their design philosophy for
and warmth along with the natural the hardscapes on this project.
stone flooring and countertops in the
bathrooms and kitchen. Venturing into the family’s sleep-
ing quarters, the attention to detail is
“You don’t want to limit the fu- carried over into the private master
ture owner, yet you want a little bit suite, which is separated by a foyer
of something that makes it interest- to create a buffer between the main
ing. The use of neutral colors lets the house and this sanctuary. Views of
homeowner do what they want, but the golf course and pool area along

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80 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

REAL ESTATE

with the large his and her walk-in home,” said Whitfield. “What we end-
closets, luxurious ladies bath with ed up with is a beautiful home for a
an inverted hip ceiling, large soaking family or retired couple with enough
tub and walk-through shower create room for guests.”
a spa-like haven for the homeowner.
John’s Island Club is a private, mem-
The guest or children’s wing in- ber-owned country club community
cludes an office nook for homework situated between the Atlantic Ocean
or party planning, a guest bedroom and Indian River Lagoon. Amenities
with full bath and a fourth bedroom include dining, golf, tennis and beach
with built-in bookcases that can be clubs. This established neighborhood
used as a den. is highly sought after, and the home at
250 Sabal Palm Lane is currently the
“We enlisted input from John’s only new construction available for
Island Real Estate to help steer us sale in John’s Island. 
to what people are looking for in a

Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 81

REAL ESTATE

VITAL STATISTICS
250 SABAL PALM LANE

Neighborhood: John’s Island
Year built: 2016

Lot Size: .5 acre • Home size: 5,614 square feet
Construction: Concrete block
Bedrooms: 4 • Bathrooms: 5.5

Additional features: Guard-gated community with golf, tennis and
beach clubs, detached guest cabana, impact glass, gas cooking and
fireplace, waterline pool, dual zone A/C system, 500 gallon in-ground gas
tank, natural stone countertops, spacious laundry room, Wolf/Subzero
stainless appliances, wine refrigerator, Walnut and natural stone flooring

throughout.
Listing Agency: John’s Island Real Estate Company, 772-231-0900

Listing Price: $3,400,000



Your Vero Beach Newsweekly ™ Vero Beach 32963 / December 8, 2016 83

REAL ESTATE

Mnuchin must-do: Privatize Fannie Mae, Freddie Mac

BY KATHY ORTON most popular mortgage – the 30-year, change that [Trump] hands over con- ters within the next five years. Sen. Bob
fixed-rate, pre-payable mortgage – servatorship to his successor.” Corker (R-Tenn.) has sponsored a bill to
Washington Post probably would go away without a do away with the GSEs.
government guarantee. Private lend- While Mnuchin seems to indicate
Steven Mnuchin, President-elect ers are reluctant to take on the risk that he sees a role for Fannie and Fred- Given how central Fannie and Fred-
Donald Trump’s nominee to lead the associated with that product. The die in the housing market, albeit not un- die are to the functioning of the hous-
Treasury Department, said last week mortgage industry welcomes change der government control, his position is ing market, Calabria is heartened by
that privatizing Fannie Mae and Fred- to the government-sponsored enter- not shared by all Republicans. Rep. Jeb Mnuchin’s stance on GSE retooling.
die Mac is “right up there on the top-10 prises – but with caveats. Hensarling (R-Texas), chairman of the
list of things we’re going to get done,” House Financial Services Committee, “It should be the treasury secre-
setting off a buying frenzy among in- “I’m encouraged to hear that end- has said that he would like to eliminate tary’s top-five things to do,” Calabria
vestors. ing the GSEs’ conservatorship will be Fannie and Freddie’s government char- said. “Whether that is doable is a sep-
a priority for the new administration arate question.” 
“We’ve got to get Fannie and Fred-
die out of government ownership,” It makes no sense
Mnuchin said during a wide-ranging that these are owned by
morning interview on Fox Business. “It the government.
makes no sense that these are owned
by the government and have been con- — Steven Mnuchin
trolled by the government for as long as
they have.” and that they see the need to reform
the system before releasing the GSEs
Mnuchin’s comments galvanized from government control,” said David
investors who have been scooping up Stevens, president and chief executive
shares of Fannie Mae and Freddie Mac of the Mortgage Bankers Association.
since the election in anticipation that “We look forward to working with the
some action might be taken on the gov- next administration toward realizing
ernment-sponsored entities (GSE). this goal.”

Fannie Mae and Freddie Mac guar- The siphoning off the profits has cre-
antee about 60 percent of the mort- ated another looming crisis for Fannie
gages in the United States and are the and Freddie – no capital. Their equity
biggest source of homebuying credit. will dwindle to nothing in 2018. But
During the Great Recession, when Fan- even that might not be enough to pro-
nie Mae’s share price plummeted from voke change.
$66.49 to less than $1 in 18 months, they
were put into conservatorship run by Those who have been following GSE
the Federal Housing Finance Agency. retooling for years say it’s not as simple
Although both remain publicly traded as Mnuchin suggests. Trump had said
companies, they have remained under little about housing during the cam-
government control since 2008. paign, leaving many observers to won-
der what, if anything, he would do.
As part of the arrangement, which
was altered significantly in 2012, “Never underestimate the ability
their profits are sent back to the of Washington to kick the can down
Treasury Department, much to the the road,” Cato Institute economist
dismay of private shareholders who Mark A. Calabria said. “I give it a 50-50
have been lobbying strongly or, in
some cases, suing to have dividends
paid to investors.

Efforts to resolve the status of Fan-
nie and Freddie have languished for
years. Part of the problem is that the

84 Vero Beach 32963 / December 8, 2016 Your Vero Beach Newsweekly ™

REAL ESTATE

Real Estate Sales on the Barrier Island: Nov. 25 to Dec. 1

The barrier island real estate market surged back to life the week after Thanksgiving, with 11 sales
recorded including three for more than $1 million.

The top sale of the week was of an oceanfront home in Castaway Cove, Wave 6. The residence at 1200 Olde
Doubloon Drive was placed on the market April 26 with an asking price of $2.495 million. The sale closed
on Nov. 30 for $2.25 million.

Both the seller and the purchaser in the transaction were represented by Cindy O’Dare and Clark French
of Premier Estate Properties.

SINGLE-FAMILY RESIDENCES AND LOTS

SUBDIVISION ADDRESS LISTED ORIGINAL MOST RECENT SOLD SELLING
ASKING PRICE ASKING PRICE PRICE
$1,630,000
$2,100,000 $760,000
RIOMAR 917 LADY BUG LANE 1/5/2016 $788,000 $1,995,000 12/1/2016 $375,000
PALM ISL PLANTATION 120 PALM ISLAND LANE 1/5/2016 $399,000 $788,000 11/30/2016 $385,000
$447,000 $640,000
OLD ORCHID 9585 W MAIDEN COURT 10/17/2016 $675,000 $399,000 11/30/2016 $520,000
$595,000
CASTAWAY COVE 1151 ADMIRALS WALK 11/7/2015 $447,000 11/30/2016 $1,235,000
$762,500
SILVER SHORES 716 TIDES ROAD 10/12/2016 $675,000 11/29/2016 $127,000
$265,000
ORCHID ISLAND 325 CATHEDRAL OAKS DRIVE 10/14/2016 $595,000 11/28/2016

TOWNHOMES, VILLAS, CONDOS, MULTIFAMILY AND INVESTMENT

ORCHID ISLAND 70 BEACHSIDE DRIVE, #302 6/2/2016 $1,295,000 $1,295,000 11/30/2016
VILLAGE SPIRES DEVEL 3554 OCEAN DRIVE, #1104 S 9/23/2016 $795,000 $795,000 11/29/2016
VISTA DEL MAR 5400 HIGHWAY A1A, #F5 9/4/2016 $129,000 $129,000 11/28/2016
VERO TOWERS 275 DATE PALM ROAD, #405 9/14/2016 $275,000 $275,000 11/28/2016








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