The Barefoot Beach real estate end of year 2009 market statistics for both home and condominium sales are listed below.

Barefoot Beach is tucked away just on the border of Bonita Springs and Naples and is one of the most gorgeous beach communities on all of the SW Florida Gulf Coast. It is popular for its unsurpassed homes – long considered the “Rodeo Drive” of the area, the properties will delight the most discriminate buyer. Surrounded by nature and elegant homes, three miles of white sandy beach is right outside the door of many of the residents. For those with a taste towards boating and fishing, the island also backs up to mangrove and intercoastal waterway – supporting Gulf of Mexico access through the Bay for deep watercraft.

Continue Reading Barefoot Beach in Bonita Springs, Florida – 2009 Sales Report

Tags: luxury, markets, real estate, sales

According to a memo sent out to all its lenders and mortage servicers, Fannie Mae is going to modify the way it goes about the handling of selling its foreclosure/REO inventory effective immediately. In the announcement, Fannie says it will now accept purchase offers for this type of inventory immediately after listing, without notifying lenders or mortgage servicers whose loan files are under review. Under its previous policy, Fannie gave lenders and servicers fifteen days to find a better purchase offer for new REO they sent to the company following foreclosure.

Continue Reading Fannie Mae to Speed Up Foreclosure/REO Inventory Sales

Tags: foreclosures, real estate, sales

The Bonita Springs real estate end of year 2009 market statistics for both home and condominium sales 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 in which to live.

Bonita Springs Real Estate Sales Data

Bonita Springs Home Sales End of Year 2009*:

• 941 Closed Sales (623 in 2008)
• Average Sales Price – $326,538
• Median Sales Price – $241,500
• Average Days on Market – 147
• Average Sales Price/Square Ft. – $140.25

Bonita Springs Condominium Sales End of Year 2009*:

• 800 Closed Sales (596 in 2008)

Continue Reading Bonita Springs, Florida End of Year 2009 Real Estate Sales Report

Tags: markets, real estate, sales, SW Florida

For buyers or investors looking to purchase a short sale property using FHA financing, HUD has put in place some tough guidelines going forward into the New Year. A letter sent to FHA lenders by Commissioner David Stevens last week spelled out the agency’s revised policy regarding short sales. HUD made it quite clear they are not going to tolerate individuals trying to “take advantage of declining market conditions” on principal residences or simply “renting out their current house” in order to buy another property that is a lower priced short sale.

Here’s a summary of the latest guidance:

• Applicants for new FHA insured mortgages will be denied new financing – effective immediately – if they participated in a short sale on their current principal residence.

Continue Reading New HUD Guidance for FHA Loans and Short Sales

Tags: FHA, HUD, mortgages, real estate