With the never ending media coverage about foreclosures in the housing market, confusion reigns supreme. One story claims things are worse, another better. Depending on who is pushing the data, you would be hard pressed not to believe the sky was falling and everyone and their brother was going to lose their home to foreclosure. Fortunately, the facts trump the misleading information that you might be reading in the paper or hearing on your favorite news program.

Depending on the source, you might see foreclosure numbers represented in one of the following manners:

• The number of homeowners who received at least one notice of foreclosure – a Lis Pendens.
• The number of homes that have received notice they have been scheduled for a foreclosure sale.

Continue Reading Florida Real Estate: Foreclosure Facts and Analysis

Tags: Florida, foreclosures, real estate

Here is an update from the Florida Realtors Association regarding the BP Oil Spill Fund and the $16 Million for Florida Real Estate Professionals that was previously announced.

Last August, Kenneth Feinberg took over the oil spill compensation process from BP. He decided early on that the Gulf Coast Claims Facility (GCCF) would only cover losses for lost rental income, not for losses incurred because buyers didn’t go to contract on a home or cancelled a sales contract. For these individuals, Florida Realtors and other gulf coast state Realtor associations convinced Feinberg to set up a special fund for real estate industry claims. But the deadline for filing claims against the real estate industry fund was Nov. 23, 2010.

Continue Reading Update: BP Oil Spill Fund and Florida Real Estate Claims

Tags: Florida, real estate

The National Association of Home Builders has bestowed its Gold Award for Community of the Year on Miromar Lakes Beach and Golf Club. Located in south Ft. Myers, Miromar Lakes is a luxury resort community built around 700 acres of freshwater lakes. Amenities include three miles of white private beach, an Arthur Hills Signature golf course and an award winning 39,000 square foot Beach Club.

Residents of Miromar Lakes enjoy being pampered with everything from a full menu of concierge services to gourmet dining at the Blue Water Beach Grill. The community also boasts other features including the spa and fitness center, a 10,000 square foot zero edge infinity resort style pool, the tennis center and dock and marine services.

Continue Reading Miromar Lakes Named Top Community in the U.S.

Tags: buyers, living, luxury, real estate, SW Florida

The following are excerpts from the 2010 Florida Real Estate Home Buyer and Seller Characteristics Profile released by Florida Association of Realtors. A review of the data gives some intriguing and interesting information and provides many valuable insights into what motivates buyers and sellers of real estate in Florida.

Florida Home Buyers Profile

Florida Home Buyer Characteristics:

• The median age was 43 years old.
• The median income of was $65,300.
• 65% reported they had no children under age 18 living in their home.
• 56% were married couples, 19% single females, 11% single males, and 11% unmarried couples.
• First-time home buyers accounted for 44% of the homes purchased.
• The median age for first-time buyers was 31 years old.

Continue Reading Florida Real Estate: 2010 Buyer and Seller Characteristics

Tags: buyers, Florida, real estate, sellers

The following is a review of the 2005-09 Census Bureau 5-year American Community Survey estimates for the southwest Florida counties of Charlotte, Collier, Lee and Sarasota.

The survey data showed all four counties remain older than the state and the nation, and that Collier as a whole is richer than the other three counties, the state, and the nation based on median income. On the lower end of the economic scale, the poverty margin was less in these Southwest Florida counties versus the rest of the state and the nation.

The four Southwest Florida counties in this review include the city’s of Cape Coral, Bonita Springs, Fort Myers, Estero, Naples, Port Charlotte, Punta Gorda and Sarasota. We hope you find the review of the data as interesting as we did.

Continue Reading Southwest Florida County by County Data Review

Tags: living, markets, SW Florida