Southwest Florida Blog

Realtor.com has outlined the top 10 turnaround cities for real estate market rebounds. The report cites reasons varying from economy to perception and admittedly, had few surprises beyond a Florida market making the Top 5. The list includes markets where researchers found property values to be stabilizing, buyer traffic picking up, and where prices will likely appreciate soon.

Top five “turnaround towns:”

• Buffalo-Niagara Falls, N.Y. – List prices are increasing, and days on the market for inventory is shrinking (87 days, which is nearly half the national average).
• Los Angeles-Long Beach, CA – While housing values here have fallen 378% compared to the its 2006 housing peak, a turnaround is underway with list prices showing signs of stabilizing month-over-month and homes spending fewer days on the market. This area is also the third most searched at Realtor.com, so buyer interest appears high.

Continue Reading Top Florida Turnaround Town for Real Estate

Tags: buyers, Florida, markets, real estate

After last years ruling by the Florida Supreme Court rejecting the wording as misleading in Amendment 3 (Florida Real Estate Taxes: Win One, Lose One), the legislature has brought it back and set Amendment 4 on the ballot for a vote in 2012. Hopefully, there won’t be another political hatchet job by the left in the state that will allow it to be derailed again.

What passing Amendment 4 will mean:

• Recapture Repeal for Common Sense Tax Relief – If approved it will allow the Florida Legislature to repeal the rule known as “recapture,” ensuring that if your property value goes down, your property taxes cannot go up, sparing countless homeowners from higher taxes on top of lower home values.

Continue Reading Amendment 4: Real Estate Tax Changes Florida Needs

Tags: Florida, legislature, real estate, taxes

Ten out of the top twenty four most popular American cities for international buyers are in the state of Florida according to a recently released report by Trulia. The report showed that Europeans, Canadians and South Americans reportedly spent about $13 billion on homes in Florida last year.

So which Florida cities do international buyers like most? Here are the top ten popular spots:

• Cape Coral
• Miami
• Ft. Lauderdale
• Naples
• Ft. Myers
• Miami Beach
• Kissimmee
• Orlando
• Jacksonville
• Tampa

For more information about international buyers – International Buyers Boost U.S. Market.

Gulf Coast Associates, Realtors
Specializing in Luxury Florida Real Estate for Sale
Cape Coral Real Estate | Ft. Myers Real Estate
Bonita Springs Real Estate | Naples Real Estate
Contact us today at 888-617-3674

Continue Reading Top Florida Real Estate Cities for International Buyers

Tags: buyers, Florida, markets, real estate

The 2011 Florida legislative session ended late last night and the Florida real estate market scored some impressive victories as everything was said and done.

Here’s a synopsis of some of the more important real estate changes:

Tax relief for non-homesteaded owners and first-time buyers – Voters in 2012 will get a chance to adopt HJR 381 which will reduce the yearly assessment cap on non-homestead property from 10% to 5%. It would also give anyone who hasn’t had a homestead exemption in Florida for three years a property tax discount of 50% of the home’s assessed value, not to exceed the median home price in that county. This additional first-time homestead owner exemption phases out for the property owner over five years while their Save Our Homes is phasing in. The measure also allows the Florida Legislature to prohibit assessment increases when property values fall. Currently, the Legislature does not have the power to prevent local governments from “recapturing” the tax revenues that Save Our Homes shields during a rising real estate market.

Continue Reading Florida Real Estate: 2011 Legislative Update

Tags: Florida, legislature, new laws, real estate

The government sponsored GSEs Fannie Mae and Freddie Mac have announced new standard guidelines for Loan Servicers to follow during the foreclosure process.

Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco said “by the end of 2011, foreclosures under Fannie Mae and Freddie Mac must follow the same procedures and Loan Servicers under Fannie and Freddie will be rewarded if they perform well and punished if they do not.” In addition, the GSEs hope the new guideline will help minimize taxpayer losses by ensuring that (Fannie and Freddie) loans are serviced more efficiently and fairly.

Under the new guidelines:

• Loan servicers cannot work with homeowners on their loans while simultaneously moving forward with a foreclosure, called a “dual track” by FHFA.

Continue Reading Fannie and Freddie Announce Foreclosure Guidelines

Tags: Florida, foreclosures, mortgages, real estate, sellers