Southwest Florida Blog

According to a report from the Florida Association of Realtors (FAR), Florida is both a great place to live and work. Naturally, those of us who reside in the Sunshine State already know this to be true. But for many of the folks outside of our wonderful state who might be unaware, here are some interesting things to consider.

Business Climate:

• Florida is the fourth most populous state in the United States, with a large and diverse population.
• The state’s Legislature has made it a priority to not only encourage new businesses and industries to come to Florida, but to provide the kind of supportive climate that entrepreneurs and businesses need to succeed and prosper. Florida Among Top 5 States for Best Business Climate

Tags: Florida, living

I just wanted to apologize to everyone (especially to my clients and friends) for having been away for such a very long period of time. What started out as well deserved break (in my opinion) from 18 straight months of creating my blogs and working on the website (right before last Christmas), turned unexpectedly into a lengthy and unwanted hiatus.

Tags: living, SW Florida

For the second month in a row, Florida existing home and condominium sales rose on a year over year basis in October. Thirteen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes; nine also showed gains in condo sales, marking the fourth month in a row that a large number of markets have noted higher sales activity. Pending sales were also up again in many markets indicating stabilization continues to take hold in many areas.

Statewide, sales of existing single-family homes totaled 10,443, up 15% year over year. Existing condominium sales in October totaled 2,956 statewide and were up 5% from a year ago. Falling property prices continue to be the impetus for the increase in sales. The median home price fell 24% to $169,700 and the median condo price fell 23% to $147,600. The median is the midpoint; half the homes sold for more, half for less.

Tags: Florida, real estate, sales

The January thru September Bonita Bay real estate market statistics for both homes and condominium sales are listed below. Bonita Bay is Bonita Springs premier gated community and is a highly sought after place to live. Encompassing 2,400 acres, Bonita Bay is also the flagship community of the Bonita Bay Group here in Southwest Florida. More than half the community is devoted to open space, including three Arthur Hills-designed golf courses and 12 miles of biking and walking paths.

Bonita Bay Sales Data

Bonita Bay Home Sales January-September 2008*:

• 50 Closed Sales
• Average Sales Price - $1,255,190
• Median Sales Price - $940,000
• Average Days on Market - 208
• Average Sales Price Price/Square Foot - $336.34

Tags: real estate, sales

Well it looks like the Feds have finally made a move that is actually going to have an immediate impact on the economy, especially the housing market.

The Federal Reserve announced yesterday that it would purchase Mortgage-Backed Securities (MBS) from Fannie Mae, Freddie Mac and Ginny Mae for up to $500 billion. The purchases will begin next week when the Fed will buy $100 Billion worth of the securities from primary dealers through a series of competitive auctions. Shortly thereafter, they plan to have selected asset managers begin conducting additional MBS purchases up to the $500 Billion total over the next few quarters.

Tags: FHA, Florida, Interest Rates, mortgages

The January thru September Naples real estate market statistics for both home and condominium sales are listed below. Naples, known as the “Crown Jewel” of SW Florida’s Gulf Coast, is a truly cosmopolitan, quaint, and cultural city that has transformed itself into a dynamic international and world renown destination.

Naples is also the jumping off point to the Everglades, Ten Thousand Islands and the Big Cypress National Preserve, all of which are perfect places for photography, bird watching, and where alligators roam, and ghost orchids hide. This is where you can enjoy outstanding outdoor sports, such as fishing, trekking or canoeing. And don’t forget, Naples’ famed beaches offer miles upon miles of white sandy havens where you can spend hours doing nothing more than just relaxing.

Tags: real estate, sales, SW Florida

The Federal Emergency Management Agency (FEMA) is using advancements in digital mapping technology to redefine the country’s flood zones. As a result, many homeowners are being required to buy flood insurance for the first time, while others who have had coverage for years are being cleared to drop their flood policies altogether.

The changes are occurring as part of a multiyear plan by FEMA to digitize its Flood Insurance Rate Maps to make them more accurate. The process began in 2003 and FEMA is projecting that 65% of the land in the country (92% of the population) will be covered by the new high-tech maps by 2010. According to FEMA officials, the accuracy of the new mapping technology has vastly improved and allows for more precise information to be used in determining special flood-hazard areas.

Tags: FEMA, homeowner insurance, mortgages, real estate