July 2009

New home construction sales continue to be slow in the Ft. Myers and Naples real estate markets according to a report released this week by Metrostudy, a national housing market research firm.

In the last 11 quarters, move-ins have outpaced housing starts, which has helped to decrease the inventory. For the first six months of the year, there have been 789 move-ins and 461 new home starts. That leaves the number of finished vacant new homes currently on the market at 705, which equates to a 4.7 month supply at the current sales pace. In addition, prices are still trending downward and communities like Bella Terra, The Plantation…

Florida real estate sales are hot. Yes, you read that right. The real estate market in Southwest Florida is booming and the rest of the state is doing quite well too. In fact, for the first six months of the year, the Cape Coral and Ft. Myers market area has seen sales soar 116% on a year over year basis and the Bonita Springs and Naples market area was not too shabby either, up 34%. Overall, Florida’s existing home and condominium sales have risen on a year over year basis for ten straight months. And, for two consecutive months in a row, the statewide median sales price for existing homes rose over the previous month’s figure. Not…

For the third year in a row, the rare ghost orchid has made an appearance at the Corkscrew Swamp Sanctuary. Believe it or not, this unique opportunity is drawing visitors from all over the country. Visitors are up 51% for the month of July and that is great for business at the Audubon run park.

Named for the illusion that it is floating in midair, the ghost orchid typically blooms between June and September. For visitors to Southwest Florida, catching a glimpse of this elusive orchid usually means wading through the swamp in places like the Fakahatchee Strand. Having them show up in Corkscrew Swamp Sanctuary, with its boardwalk…

We often get asked a lot of questions about the First Time Home Buyer Tax Credit Program. Obviously, it is a little confusing to many folks. Upon reviewing our email and phone logs regarding the questions we have received, here are some explanations about the program requirements we hope you may find useful.

• For married couples, both have to qualify as first-time buyers to get the tax credit.
• For non-married couples, only one buyer has to qualify. So, in some cases it may be beneficial to buy a home before you get married.
• If both buyers qualify for the tax credit, only one of them can actually get it. There is one credit…

In the first half of 2009, the Cape Coral and Ft. Myers area took the number two spot in the nation for foreclosure related filings. Naples faired a little better, coming in at number twelve. Total filings were 25,926 for Cape Coral-Ft. Myers and 6,990 for Naples. The rankings were based on default notices, auction sales and bank repossessions.

Under normal circumstances, the rankings would be a dubious honor. But here in Southwest Florida, it may just be a blessing in disguise. The reason for this is twofold. First and foremost, our real estate market is booming, especially for single family homes. Year-to-date sales for 2009 are…

In its annual survey of beaches and lake getaways, Health Magazine recently awarded Bonita Springs with a top ten ranking as the seventh healthiest beach in the country. A combination of sugary sand, clean water and miles of area parks helped Bonita Beach get the ranking.

According to the judges, Bonita Beach has the best sand anywhere. And, if you have kids, it is a fabulous place to let them swim in the calm, warm Gulf waters, or search for seashells as the tides roll in and out.

Pretty good recommendation for our little piece of paradise! Thanks Health magazine.

The January thru June Bonita Springs real estate market statistics for both homes and condominiums are listed below. Bonita Springs, known as the "Gateway to the Gulf,"  is one of Southwest Florida's fastest growing coastal cities. Lifestyle options are endless and its central location between Ft. Myers and Naples make it a most desirable destination. While its growth has been prolific, the city still has that small town charm with an exceptional quality of life.

Bonita Springs Real Estate Sales Data

Bonita Springs Homes Sales January-June 2009*:

• 434 Closed Sales
• Average Sales Price - $348,404
• Median Sales Price -…

The Lee County Florida commissioners voted earlier this week to leave the maximum county-wide property tax rate unchanged for next year. They could also vote to lower it at their budget hearings in September but cannot legally raise it under any circumstances. The rate for a typical resident of unincorporated Lee County will remain at about $5.34 for every $1,000 in taxable value.

It's great news for many Lee County homeowners - especially those who don't live in one of the dozens of special taxing districts. Those folks will still probably see some increase in their property taxes as many of their rates are headed up because of…

According to a report from the Florida Association of Realtors (FAR), Florida is both a great place to live and work. Naturally, those of us who reside in the Sunshine State already know this to be true. But for many of the folks outside of our wonderful state who might be unaware, here are some interesting things to consider.

Business Climate:

• Florida is the fourth most populous state in the United States, with a large and diverse population.
• The state's Legislature has made it a priority to not only encourage new businesses and industries to come to Florida, but to provide the kind of supportive climate that…