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August 2009

There are 8 blog entries for August 2009.

Luxury Florida Real Estate - Has Its Bubble Finally Burst Too?

Monday, August 31st, 2009 at 9:31pm. 1,997 Views, 6 Comments.

Luxury Florida Real EstateIt looks like the last real estate market segment in Florida that has held out for higher prices has finally burst its bubble too. Luxury Florida real estate sellers appear to have finally come to the realization that they too are going to have to give in on price in order to sell their properties.

While many folks may have thought such a move was a given under today's housing market climate, the reality was another thing altogether. The reason for such an attitude was multi-faceted. Let's just suffice it to say that most luxury real estate in Florida is located on some of the most prized property available. You don't give away…

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Foreclosure Purchases and the FHA 203(k) Rehabilitation Loan Program

Saturday, August 29th, 2009 at 8:34pm. 2,320 Views, 3 Comments.

FHA 203(k) Rehabilitation Loan ProgramThe FHA 203(k) Rehabilitation Loan program may be right up your alley if you are buying a foreclosure as your primary residence. That's because The Federal Housing Administration (FHA) is encouraging the use of its little known 203(k) loan which allows a primary owner-occupant* to borrow money for both the purchase and renovation of a property all in one loan. And, you only have to have 3.5% of the total purchase price (acquisition and repair costs) as the down payment. In addition, the program can be use to include cosmetic improvements as well as major renovations like replacing a roof or fixing up the properties plumbing or…

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Sanibel Island Real Estate Sales Update - January to June 2009

Tuesday, August 25th, 2009 at 6:58pm. 1,704 Views, 0 Comments.

Sanibel Island Real EstateThe January thru June 2009 Sanibel Island real estate market statistics for both home and condominium sales are listed below. Sanibel Island, known as the "Shelling Capital"  of the world, is one of Southwest Florida's true treasures. Only 12 miles long and 5 miles wide, Sanibel is a haven of natural beauty, very romantic, and a place of solitude. Imagine seventeen miles of pristine soft white sand beaches all surrounding waterways, mangroves and wetlands teeming with abundant wildlife. Throw in the island's quaint shopping experiences, numerous dining and nightlife choices, and 300 plus days of sunshine and you have the perfect…

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Consumer Product Safety Commission Launches Chinese Drywall Information Website

Thursday, August 20th, 2009 at 11:26pm. 3,018 Views, 14 Comments.

Chinese Drywall Information WebsiteThe Consumer Product Safety Commission (CPSC) launched a new website this week dealing with imported Chinese drywall. The Environmental Protection Agency has determined that Chinese drywall may be a potential hazard. Approximately 36,000 homes in Florida and many others states including Alabama, California, Mississippi, Virginia and Louisiana have been affected by the imported drywall.

Consumers with homes known to contain the defective wallboard complain of foul odors, metal corrosion and health problems from occupying their properties. The CPSC website will provide details of the ongoing investigations into the problem including…

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The Brooks Real Estate Sales Update - January to June 2009

Tuesday, August 18th, 2009 at 6:38pm. 1,401 Views, 1 Comments.

The January thru June 2009 The Brooks real estate market statistics for both home and condominium sales are listed below. Encompassing 2,532 acres of natural Florida surroundings, The Brooks is master planned gated community consisting of five major and distinct communities - Copperleaf, Lighthouse Bay, Rapallo, Shadowwood and Spring Run. Each community is gated and sports a different kind of lifestyle. All five communities pivot around The Town Center and The Commons Club at The Brooks which also provides numerous amenities. With its central location between Bonita Springs and Estero, The Brooks provides a variety of lifestyle…

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Did All Florida Housing Prices Really Suffer From The Free Fall?

Friday, August 14th, 2009 at 8:07pm. 2,384 Views, 2 Comments.

Florida Real Estate MarketI was reading about some interesting research recently conducted by a professor at the University of Central Florida. Seems his analysis shows that current home values are just about where they would have been had the real estate bubble of 2005-7 not occurred. According to Professor Stan Smith, "most homeowners are within 6% of where they would have been had there not been a housing bubble. The people who have been here since prior to 2005 should not have been hurt,"  though he also added: "... a lot of people who did buy in 2005 and 2006 obviously were hurt significantly."  However, a long-term view of the Florida real estate…

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Naples and Sarasota Named to Top 5 List of Most Undervalued U.S. Cities

Wednesday, August 12th, 2009 at 2:09pm. 1,650 Views, 2 Comments.

In a recent independent national poll conducted by IHS Global Insight Regional Estate Service, two destinations in Florida appeared in the top five most undervalued places to live in the United States.

The first Florida destination to appear in the poll is the cosmopolitan, quaint, and cultural city of Naples. Known as the "Crown Jewel"  of the Southwest Florida gulf coast, Naples offers residents plenty of golf, beaches, and fishing in an enchanting and sun-drenched environment. And, after home prices plummeted by nearly 50% from the first quarter of 2006 to the first quarter of this year, real estate in this upscale community…

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Pelican Landing Real Estate Sales Update - January to June 2009

Monday, August 10th, 2009 at 10:00am. 1,516 Views, 0 Comments.

Pelican Landing Island SunsetThe January thru June 2009 Pelican Landing real estate market statistics for both home and condominium sales are listed below. Pelican Landing is an upscale gated golf community with excellent amenities and is considered one of Bonita Springs premier communities.

Pelican Landing distinguishes itself by being the only community in the area to own a private barrier island on the Gulf of Mexico. The island includes a 32 acre beach park that residents have daily access to via a community run boat shuttle service. Residents can also opt for membership in the Pelican's Nest Golf Club. Its two 18 hole Tom Fazio designed golf courses are…

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