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 and Sandoval have some really good buys on the homes they currently have available.

Tags: real estate, sales, SW Florida

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 bad for a market that some in the press portray as dead in the water.

Tags: foreclosures, real estate, sales, SW Florida

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 and telescopes, is indeed a very fortunate treat for people to see this rare and beautiful flower.

Tags: living, parks, SW Florida

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 per household.

Tags: Florida, mortgages

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.

Tags: foreclosures, real estate, sales, SW Florida

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.

Tags: living, SW Florida

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 - $260,000
• Average Days on Market - 146
• Average Sales Price/Square Ft. - $143.44

Tags: real estate, sales, SW Florida