Southwest Florida Blog

According to the 2010 State Business Tax Climate report released this week by the Washington D.C. based Tax Foundation, Florida remains among the top 10 states in the nation when it comes to “business friendly” taxes. Florida ranked 5th in this year’s report and has had the best ranking among Southern states for several years in a row. A spokeswoman for the Tax Foundation stressed that the rankings don’t reflect how much money the taxes raise, but how broad and competitive the structure is compared to other states. Florida’s advantage comes mostly from having a state constitution that prohibits an income tax.

Tags: Florida, growth, taxes

Nature enthusiasts, paddlers, hikers, bird watchers and sightseers now will have a wonderful new opportunity to explore the Everglades via the Ten Thousand Islands National Wildlife Refuge just east and south of Naples.

Starting today, a new trailhead and boardwalk at the 35,000 acre park will provide visitors access to hiking trails and a canoe and kayak launch allowing them to explore all the splendor the Ten Thousand Islands area has to offer. Young and old alike will have the opportunity to see sunning alligators, great blue herons, manatees, and all the beauty that Mother Nature provides at this easy to access nature preserve. Fishermen and hunters (with permits) will also be welcomed in the mangrove filled back country marsh.

Tags: living, parks, SW Florida

According to the Editors at Money magazine, the Florida city of Port Charlotte is the best place to retire to in the country.

The ranking is not surprising when you consider Port Charlotte’s central location here in Southwest Florida. It is just adjacent to Punta Gorda, 50 miles south of Sarasota and 40 miles north of the Ft. Myers and Naples areas. In addition, the city is nestled right on Charlotte harbor, which offers hundreds of miles of cruising waters and protected shorelines for both boating and fishing enthusiasts alike. Knowing the area well, we’re surprised it didn’t make their list for the Best Places for a Long Life.

Tags: living, markets, real estate

International clientele are once again making up a significant number of the buyers for the Southwest Florida real estate market. In fact, in Naples, 25% of the population (double the national average of 12%) are foreigners.

According to a recent survey conducted for the Florida Association of Realtors, a majority (54%) of Florida agents worked with an international client within the past 12 months and over 10% of them worked with 11 or more international clients in the same time period. The top international buyers for Southwest Florida real estate included Canadian, British and German foreign nationals who happen to have an advantage at the moment as their exchange rate favors their currency and provides them with increased purchasing power.

Tags: living, markets, real estate

For the first time in 2009, new foreclosure filings fell in August for Lee and Collier Counties in Southwest Florida. It is quite a change from the last year or so as far as filings are concerned. And, while one month’s data does not make a trend, it is hopefully a good sign of things to come.

For Lee County, there were 1,625 new filings last month, down from 1,903 in July, a 15% drop. It was the lowest number of actions seen this year. In addition, there were also 1,848 foreclosure cases resolved by the Lee County courts, down from 2,133 handled in July. In Collier County, there were 811 new filings last month, down from 1,103 in July, a 27% drop. There were 374 foreclosure cases resolved by the Collier County courts.

Tags: foreclosures, markets, real estate

It looks like the last real estate market segment in Florida that has held out for higher prices has finally burst its bubble too. Luxury Florida real estate sellers appear to have finally come to the realization that they too are going to have to give in on price in order to sell their properties.

While many folks may have thought such a move was a given under today’s housing market climate, the reality was another thing altogether. The reason for such an attitude was multi-faceted. Let’s just suffice it to say that most luxury real estate in Florida is located on some of the most prized property available. You don’t give away oceanfront estates, island getaways or high rise condominiums with views to die for just because the rest of the market hits hard times. In addition, folks who are wealthy enough to afford such properties in the first place are also wealthy enough to carry them as they weather the market downturn.

Tags: Florida, living, markets, real estate

The FHA 203(k) Rehabilitation Loan program may be right up your alley if you are buying a foreclosure as your primary residence. That’s because The Federal Housing Administration (FHA) is encouraging the use of its little known 203(k) loan which allows a primary owner-occupant* to borrow money for both the purchase and renovation of a property all in one loan. And, you only have to have 3.5% of the total purchase price (acquisition and repair costs) as the down payment. In addition, the program can be use to include cosmetic improvements as well as major renovations like replacing a roof or fixing up the properties plumbing or electrical systems.

Tags: FHA, foreclosures, mortgages