Sunday, June 22nd, 2014 at 8:07am. 1,664 Views, 1 Comments.
The available SW Florida re-sale home inventory for May is at its lowest level since 2007 according to the latest Naples Area Board of Realtors (NABOR) monthly sales report.
Demand remains high too, with overall pending and closed sales both topping 1,000 for May. Many local real estate brokers are saying they don't see these factors as signs that a new bubble is building, which is defined as too much demand chasing too little supply, which pushes up prices to unsustainable levels for the average buyer. We concur with this observation at this point in time. Basically, what we have here is a lid being kept on the market by the fact…
Friday, June 6th, 2014 at 3:16pm. 2,824 Views, 0 Comments.
For 29 straight months, overall median sales prices have risen for both single-family homes and condominiums here in Southwest Florida. Local markets like the Naples, Immokalee and Marco Island areas have seen prices rise 13.6% (the highest in the state) over the last year. Others like the Cape Coral and Ft. Myers areas saw prices rise by 8.3% (9th highest in the state) over the same time period. Both compare favorably to the national average which averaged 10.5% year over year.
Overall in Southwest Florida, the driving force behind the ongoing price rises is the "dearth of inventory" that researcher CoreLogic "expects will…
Wednesday, May 14th, 2014 at 7:16am. 1,927 Views, 0 Comments.
Spurred on by an influx of all cash buyers and steadily rising home prices, both state and local real estate sales in Florida saw substantial increases in the first quarter of 2014.
Here's the breakdown of the Q1 facts and figures:
- Statewide, single-family home prices were up 9.1% to a median of $168,000.
- Condos and Townhouses saw a 16.9% bump up in price to $135,000
- The state boasts the highest number of metro areas where cash deals comprise more than half of all sales.
- The Naples-Marco Island market was by far the fastest performing of all cities in the state.
- Single-family home prices in the Naples-Marco Island…
Tuesday, May 13th, 2014 at 3:35pm. 1,346 Views, 0 Comments.
The Village of Estero has cleared all the hurdles and been given the official OK by Governor Scott's signing of HB 1373 to proceed with a vote on the November 4th ballot on whether or not to become a city.
"We're elated to hear it," said Nick Batos, Chairman of the Estero Council of Community Leaders. "It's been a long process, and it's great to see the delegation and the Governor give Estero the right to make the decision whether we want to incorporate or not."
Batos also said the organization has had about a dozen community meetings to educate people on the pros and cons of becoming a city. The group will continue to meet "on…
Saturday, May 3rd, 2014 at 3:31pm. 7,645 Views, 0 Comments.
The Centers for Disease Control and Prevention (CDC) in Atlanta finally released their report confirming that Defective, or Chinese, drywall "does impact the health of residents" where it was used in the original construction process. Most of the Chinese drywall was installed in new construction during 2005 and 2006 and the Department of Housing and Urban Development (HUD) feels that approximately 11,000 homes were impacted in the Southern region. They found that the health implications are worse in Florida, where the heat and humidity are higher than in other locations.
The U.S. Agency for Toxic Substances and Disease (ATSDR) at…
Monday, April 28th, 2014 at 10:56am. 1,188 Views, 0 Comments.
The Bonita Springs real estate market we've been predicting for months now looks as if it is coming into being. The closed sales for March of 2014 are down by 37.8% in a year over year comparison. Many experts were saying our sales would slow due to rising prices. However, with active listings declining by 41.3% year over year – it appears the lack of inventory is more of the culprit that we are seeing on a daily basis as the year moves forward. There is just too little inventory available for buyers to choose from, especially in the more affordable price ranges.
Bonita Springs’ average home sale prices were up by 8.2% to $469,834…
Friday, April 18th, 2014 at 9:49am. 2,608 Views, 0 Comments.
They have rather unusual names like Sparky Lee's Hole, Houla Dog and Dean-O Hicks Reef. These are just a few of the artificial reefs off Collier and southern Lee County's coastlines that aren't necessarily able to be found via a GPS coordinate. Many have been tossed and buried by hurricanes and the larger than normal waves that over time have just pounded them into submission.
Now, thanks to more than $1.3 million in various grants from BP’s Gulf Tourism and Seafood Promotional Fund, the local Collier County governmental agencies and the Community Foundation of Collier County and the Economic Recovery Task Force have joined…
Monday, April 14th, 2014 at 3:16pm. 1,415 Views, 0 Comments.
It's that time of year again. Our winter snowbird friends are flying back north for the summer. And, it is just the right moment for addressing what to do in preparing your SW Florida home to help prevent mold and water intrusion while your away.
SW Florida's high humidity and heat during the summer months takes a toll on your property both inside and out. The easiest way for preventing mold development while you’re gone on the inside is to install, and use, a humidistat on your air conditioning unit. By keeping your humidity at a minimum 60%, the air conditioner should activate often enough for drying the air within your home.…
Friday, April 11th, 2014 at 7:30pm. 2,548 Views, 0 Comments.
An old adage goes "that money can't buy you happiness." Well, maybe not. But it can buy you a home in one of the country's "Top 10 Happiest Beach Towns."
Coastal Living magazine took its second annual look at the country's "10 Happiest Beach Towns" in 2013 and you might be surprised by the towns that made their final list.
According to Jennifer Slaton, the magazine's executive editor, "our staffers nominated their favorite beach towns and then winnowed the results down to the final 10. Our readers then ranked the finalists from one to ten."
So what makes a beach town happy? According to Slaton, "staffers used multiple…
Thursday, April 3rd, 2014 at 11:08am. 1,382 Views, 0 Comments.
The Naples area housing market (including Bonita Springs and Estero) is one of the healthiest in the country according to a new report produced by John Burns Real Estate Consulting. The California based national marketing research firm said "strong demand from second home buyers and retirees (up 30% year over year) have been pushing prices up an average 0.5% a month," according to the company's proprietary Burns Home Value Index.
Last year, flights to Southwest Florida International (RSW) airport experienced their largest increase since 2007, the consulting firm noted, which generally correlates into higher vacation home sales.…
Blog Authored by Benjamin Dona of Gulf Coast Associates, Realtors