Southwest Florida Blog

Rates on 30-year mortgages have jumped to their highest level in nearly eight months, reflecting the markets increased concerns about what the Federal Reserve might have to do to battle rising inflation. The MBAA reported that 30-year fixed-rate mortgages averaged 6.24 percent last week. That was up sharply from 6.17 percent the week before. It was the highest level for 30-year mortgages since they averaged 6.33 percent for the week ending October 26, 2007.

Tags: Interest Rates, mortgages

We ran across this item the other day in the NAR Newsletter and thought a synopsis might be helpful. A link to the actual Final Rule is provided below.

The Federal Trade Commission has revised its rules implementing the Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 (CAN-SPAM). Can-Spam regulates commercial emails and since its enactment in 2005, has clarified what qualifies as a commercial email subject to the Acts requirements. The revisions to the rules help in part to clarify the following four items:

1. What constitutes an acceptable method for opting out of future emails;
2. Revised definition of “sender”, clarifying to whom the rules apply when the email contains multiple advertisements;

Tags: internet, Technology

The number of FHA loans issued shot up 126 percent in the first quarter of 2008 even though they still make up a just small part of the overall mortgage market. Demand for these often-neglected mortgages is surging because they do not require the higher down payments or stellar credit scores that lenders expect from borrowers for conventional loans. In addition, the amount of money people can borrow on these loans is up dramatically this year and many homeowners now find them attractive once again for both purchases and refinancing alike.

Tags: FHA, mortgages

The first quarter 2008 Brooks real estate market statistics for both homes and condominiums are listed below. Encompassing 2,532 acres of natural Florida surroundings, The Brooks is master planned gated community consisting of five major and distinct communities - Copperleaf, Lighthouse Bay, Rapallo, Shadowwood and Spring Run. Each community is gated and sports a different kind of lifestyle. All five communities pivot around The Town Center and The Commons Club at The Brooks which also provides numerous amenities. With its central location in Bonita Springs and its variety of lifestyle choices and price ranges, The Brooks is a highly sought after place to live.

The Brooks Sales Data

The Brooks Home Sales Jan-Mar 2008*:

• 32 Closed Sales

Tags: real estate, sales, SW Florida

Just recently, Florida Agriculture and Consumer Services Commissioner Charles Bronson (gotta love his name - how apropos) announced taking legal action against a Sarasota County company for violating the State Do Not Call law. The legal action seeks an injunction prohibiting the offending company from making any future calls to residents on the list and fines of up to $10,000 for each of the calls made to the prohibited phone numbers is possible. Commissioner Bronson said “the message is that this activity will not be tolerated.”

Bronson’s department has collected or obtained judgments of more than $1.5 million against companies that have called residents on the list. Bronson encourages Floridians to join the program. For more information, consumers can call the department’s toll-free hotline at 1-800-435-7352 or visit the Division of Consumer Services website at www.800helpfla.com.

Tags: Florida, growth

In a prepared talk Tuesday morning, Federal Reserve Chairman Bernanke signaled further interest rate cuts by the Federal Reserve are unlikely because of growing concerns about inflation and the weak dollar. Specifically, he said that the Federal Reserves powerful doses of rate reductions that started last September along with the $168 billion stimulus package, including rebates and tax breaks, “should help bring about somewhat better economic conditions in the second half of this year.”

Tags: Interest Rates

The first quarter 2008 Lely Resort real estate market statistics for both homes and condominiums are listed below. Lely Resort is one of Naples premier gated communities. Encompassing 3,000 acres of lakes and preserves, it is truly a sought after place to live by those seeking a respite from the stress of everyday life.

Lely Resort is an amenity rich, sophisticated and luxurious style of living conveniently located near Naples’ beaches, 5th Avenue shopping, and exquisite dining experiences. The development offers a variety of single family homes, villas and condominiums, most with stunning golf and water views. The community also offers 54 holes of truly championship golf designed by Robert Trent Jones, Lee Trevino and Gary Player and features the completely renovated Players Club & Spa.

Tags: real estate, sales, SW Florida