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Southwest Florida Real Estate Blog

Naples Housing Market Amongst Nations Healthiest

Thursday, April 3rd, 2014 at 11:08am. 2,365 Views, 0 Comments.

Naples Housing Market Amongst Nations Healthiest in 2014The 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.…

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Homeowner and Condominium Association Fees - Part 2

Tuesday, March 18th, 2014 at 5:02pm. 4,463 Views, 0 Comments.

Continuing on from our first post - Homeowner and Condominium Association Fees - Part 1, we are now going to focus the discussion on what to expect when the neighborhood in question is also a condominium association.

Homeowner and Condominium Association Fees - An ExplanationThere are multiple condominium neighborhoods within Pelican Landing and their residents are members of both the master homeowner's association (Pelican Landing) and their individual condominium association. A single condominium owner does not own the land under their building; they own 1/100th (if there are 100 units in the project) of all the land, the buildings, and their condominium associations' amenities. If…

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Naples High End Luxury Market Up Substantially

Monday, March 17th, 2014 at 3:14pm. 2,499 Views, 0 Comments.

Naples Real Estate Sales and Prices Rise in February, 2014The Naples luxury home market prices were up substantially in February, rising 24% year over year. The lower tiered markets are not doing too badly either. Overall, prices were up 23% across the board for all home sales versus this time last year.

The high end luxury market here in SW Florida is considered homes above the $2 million range. For February's 24% rise, the median price now stands at $3 million. Wealthy buyers are back in the market and many homes are actually experiencing bidding wars during their sales process. Buyer confidence is being driven by the fact that Naples continues to get national attention for its overall…

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Distressed Housing Market Shrinks Dramatically in Florida

Thursday, March 13th, 2014 at 9:17am. 2,596 Views, 0 Comments.

Florida Foreclosures Drop in February, 2014According to a Realty Trac report on the U.S. Foreclosure Market for February, 2014, foreclosure filings - default notices, scheduled foreclosure auctions and bank repossessions - totaled 112,498 properties, a 10% decrease from January and a 27% decrease from February, 2013.

After a 10% month-over-month jump in January, U.S. foreclosures retreated to their lowest level since December, 2005 - a 98 month low. A total of 51,842 U.S. properties "started"  the foreclosure process for the first time in February, down 9% from the previous month and down 27% from a year ago.

States with the most owner-vacated foreclosures were Florida…

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The Grapefruit League - 100 Years Old and Counting!

Sunday, March 2nd, 2014 at 7:28pm. 5,042 Views, 0 Comments.

Florida's Spring Training Grapefruit LeagueThe Grapefruit League turned 100 years old this past Thursday. Naturally, the local newspapers here covered the story pretty extensively. You see, we take Major League Baseball spring training very seriously here in Southwest Florida. And that's rightfully so, when you consider the history of how it all came to pass. When you throw in the warm sunshine and the beautiful weather to boot, there's just no better way to enjoy watching your favorite ballplayers working off the winter's rust.

So, I've grabbed up the news stories and did some research on the web and here is what I came up with that I thought you all might find…

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QM - What Is It And How Might It Affect Your Buyer Or Seller?

Saturday, March 1st, 2014 at 7:51pm. 3,678 Views, 0 Comments.

CFPB Guidelines for Qualified Mortgages (QM)On January 10, 2014, the Consumer Financial Protection Bureau (CFPB) implemented their new guidelines for mortgage loans. You may have heard the term Qualified Mortgage (QM) being used by your lender or loan officer, or heard something about them in the news lately. A qualified mortgage is one that offers the lender protections, so long as they comply with all of the CFPB guidelines. Lenders who make loans that are outside of the QM guidelines lose protection against the borrower suing them on the basis that the loan they obtained was unfair.

However, these new guidelines may make mortgages harder for borrowers to obtain and that…

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Lee and Collier County Home Prices Sky Rocket in January

Saturday, February 22nd, 2014 at 3:13pm. 2,188 Views, 0 Comments.

Lee and Collier County Home Sales & Median Prices RiseThe Realtor Association of Greater Fort Myers and the Beach released new figures for January on single family home re-sales in Lee County, Florida reflecting a 27.2% increase over January of 2013. The new sales numbers equate to a $38,500 increase in the median sales price range for single family homes. That's up to $180,000 from $141,500 last year. Condominiums median sales prices were also up by more than 20% year over year. The median is the price at which half the properties sell for more and half for less.

Lee County's prices are being pushed upward by a shrinking inventory that is down almost 4% year over year and by the…

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Pelican Landing Completes Beach Renourishment Project

Wednesday, February 19th, 2014 at 11:04am. 3,147 Views, 0 Comments.

Pelican Landing's private 34-acre Beach ParkThe extensive beach renourishment and stabilization project at Pelican Landing's private 34-acre Beach Park is now completed. The $2.8 million project on Big Hickory Island widened the park's Gulf of Mexico beachfront by as much as 250 feet and included the installation of concrete king-pile groins designed to stave off future erosion.

The Beach Park, rated by Pelican Landing and Colony residents as their favorite amenity, offers a private beach experience, complete with an elevated beach house with open decks, two open-air picnic pavilions, and a large screened pavilion with a deck. Additional amenities include shower/restroom…

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Short Supply of New Construction Homes in SW Florida

Friday, February 14th, 2014 at 1:26pm. 2,466 Views, 0 Comments.

New Construction Homes in SW FloridaNaples and Ft. Myers buyers are rapidly depleting the new home construction market. From the first fiscal quarter of 2012 to the same time period in 2013, housing starts were up 47.5% and inventory of new homes fell to 1.5 months. The last fiscal quarter of 2013, the supply dropped to less than 1 month which indicates that nearly every new home was under contract or closed. Builders are seeing a one year cycle in some new construction neighborhoods and many communities are seeing a waiting list for new lots and phases to open.

Grade "A" lots that are finished and developed for new builds are continuing their decline also. In the…

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Naples, Florida 2013 End of Year Sales Analysis and Inventory Shortage

Saturday, January 18th, 2014 at 11:15am. 2,089 Views, 0 Comments.

Naples Sales Analysis 2013Today everyone in real estate on the Southwest Gulf coast will be writing about the improving sales numbers in the Naples, Florida area. The Naples Area Board of Realtors held a press conference reporting the statistics for both the 2013 end of year and the December 2013 monthly report.

All the news is good for sellers and becoming bleaker for buyers. As reported here for awhile now, inventory has been falling steadily, new construction is rising in base price, and truly real "steals"  haven’t been available for the last two years.

Median home prices increased in 2013 from 2012 by 18% and 22%. The median price for 2013 was $240K…

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Blog Authored by Benjamin Dona of Gulf Coast Associates, Realtors