US Consumer Sentiment Slips in October
Mon Oct 28 2024, 5:42 pm
US Consumer Sentiment Slips in October The highly regarded University of Michigan’s Consumer Sentiment Index (CSI) slipped in October amid lingering frustration over high prices (the index is issued monthly and is arrived at through interviews with hundreds of random Americans)....
Boomers and Millennials Disagree on Home Ownership
Mon Oct 28 2024, 5:39 pm
Boomers and Millennials Disagree on Home Ownership Opportunity To put it bluntly, Baby Boomers (those who were born from 1946 to 1964) hold a dim view of the complaints by millennials (a person born between the early 1980s and the late 1990s) concerning how difficult it is for them...
Benefit of Elevated Homes Takes Precedence
Mon Oct 28 2024, 5:36 pm
Benefit of Elevated Homes Takes Precedence Storm surges are when strong winds push sea water onto the shore. This can result in significant flooding, which can lead to severe structural damage to homes including foundation weakening and interior water damage. Elevated homes are better p...
How to Make Your Home Cozy and Inviting
Sat Sep 28 2024, 11:58 am
How to Make Your Home Cozy and Inviting Here are some tips for making any living space more cozy, warm, and inviting. The bonus is that this can be accomplished even on a tight budget. Add texture using blankets and cushions in warmer, neutral tones, Add an area rug, again in a...
Commercial Buildings Finding New Purpose
Sat Sep 28 2024, 11:55 am
Commercial Buildings Finding New Purpose Many developers of commercial properties thought that the pandemic had supercharged demand for the life sciences and that the demand would be sustainable. Unfortunately, for these developers, they were wrong. Biotech and pharmaceutical buildin...
Reluctant to Sell
Sat Sep 28 2024, 11:53 am
Baby Boomers are Reluctant to Sell Boomers own 38% of American Real estate but more than half (54%) never plan to sell their homes, according to a study by Clever Real Estate. Boomers, now between 60 and 78 years of age account for only 21& of the U.S. population, yet they own 38...
Florida Protecting Vacation Rentals as Vacation Rental Industry Lobbying Steps Up
Sun Sep 1 2024, 4:30 pm
Florida Protecting Vacation Rentals as Vacation Rental Industry Lobbying Steps Up In June, Governor DeSantis vetoed a bill to tighten restrictions on short term rentals in favor of local legislation. Those who support the view that short term rentals should be permitted on a wide sca...
Florida Ranks Number One for Fun Activities
Sun Sep 1 2024, 4:28 pm
Florida Ranks Number One for Fun Activities Wallet Hub, the personal finance company that launched in August 2013, is based in Miami and owned by Evolution Finance, Inc. Recently, they conducted a study to determine the states which offer the most fun. States were ranked according to th...
Mortgage Rates Hit 15 Month Low
Sun Sep 1 2024, 4:35 pm
Mortgage Rates Hit 15 Month Low The average rate on a 30-year fixed mortgage fell this week to its lowest level in 15 months, easing some of the cost for would be home buyers, in an otherwise tough housing market. Even a tiny drop in mortgage rates is enough to indicate that house-hunti...
Top Earners Flock to Florida
Fri Jul 26 2024, 4:37 pm
Top Earners Flock to Florida While Florida has been steadily gaining population for decades, the pace of in-migration has quickened in the last several years. And those newer arrivals are more than in the past from the higher income classes. Why? In recent years, states such as California, New...
Generation Z Fears They May Never Be Able to Afford a Home
Fri Jul 26 2024, 4:44 pm
Generation Z Fears They May Never Be Able to Afford a Home Generation Z, also known as "Zoomers", is the demographic cohort of people born between 1997 and 2012, making their age range from 11 to 26 years old. This generation comes after Millennials and before Genera...
Buyers Interested in Sustainable Spaces
Fri Jul 26 2024, 4:38 pm
Buyers Interested in Sustainable Spaces In a March 2024 survey by the Nation Association of Realtors (NAR), a significant percent of the agent respondents (see below) said their clients were “at least somewhat interested in sustainability.” But still, a large pe...
Investors are Stepping up Buying Office Buildings Amidst Depressed Prices
Sun Jun 30 2024, 12:28 pm
Investors are Stepping up Buying Office Buildings Amidst Depressed Prices The crash in commercial real estate prices in the U.S. has finally come. The delay was mostly due to the fact that no one knew how much commercial properties (especially office buildings) were actually worth. T...
Some Buyers are Assuming Mortgages
Sun Jun 30 2024, 12:24 pm
Buyers are Assuming Mortgages to Beat High Rates To begin with, what are assumable mortgages? When you assume a mortgage, the original borrower signs the balance of their loan over to you, and you become responsible for the remaining payments. That means the mortgage will have...
Bonita Del Sol
Sun Jun 30 2024, 12:16 pm
New Community: Bonita Del Sol Located in Bonita Springs, this new, gated, manned community of 248 private homes is set on 117 acres. Bonita Del Sol is just a 20-minute drive to downtown Naples (renowned for its restaurants and retailers) and about a 7-mile drive to the beach. Boating, k...
Where is the Real Estate Market Heading?
Sat Jun 1 2024, 5:13 pm
Where is the Real Estate Market Heading? The Chief Economist for the National Association of Realtors (NAR), Lawerence Yun, sees home sales rising nine percent in 2024 and rising 13.2 percent 2025. Yun also forecasts home sales rising in eight of the next ten years. He thinks mortgage r...
Skip These Design Trends
Sat Jun 1 2024, 5:12 pm
Skip These Design Trends Elle Magazine, one of the most respected and revered worldwide women’s magazines that focuses on fashion, beauty, and lifestyle quotes the old but wise adage: “Trends come and go, but style is eternal” The magazine is issued in no less than 45...
New Grants to Help Current Home/Condo Owners
Sat Jun 1 2024, 5:09 pm
New Grants to Help Current Home/Condo Owners Governor Ron DeSantis has signed two pieces of legislation to strengthen and expand the My Safe Home grant program. The governor approved $200 million (SB 7028) to continue a “home hardening grant program” aimed to help low-and mo...
What You Should Know Before Buying an Investment Property
Thu Apr 25 2024, 9:01 pm
What You Should Know Before Buying an Investment Property There are many advantages to owning an investment property. But there are also dangers and pitfalls. Let’s look at some of both. To begin with, an investment in a rental property should offer a net return that is greater th...
Is it Time to Renovate?
Thu Apr 25 2024, 8:59 pm
Is it Time to Renovate? Home renovation is a $500 billion a year industry. Although the average renovation will cost $10,000, many Americans will spend far more. While kitchens and bathrooms are the most popular rooms to renovate, all other rooms in a home will often get their turn. But...
Good News for Florida Home Insurance
Thu Apr 25 2024, 8:56 pm
Good News for Florida Home Insurance The Florida Office of Insurance Regulation (OIR) is reporting that the home insurance market is continuing to strengthen as more property and casualty carriers are entering the state. This, of course, is good news for Florida homeowners, as competiti...
Is the Color of Your Home Hurting Your Sale?
Tue Mar 26 2024, 3:02 pm
Is the Color of Your Home Hurting Your Sale? When selling a home, most experts agree that distracting, bold, and loud flashy colors, such as reds and bright yellows are not a good idea. Surveys have consistently shown that only a very small minority of respondents are total non-conformi...
Commercial Loans are Under Pressure
Tue Mar 26 2024, 3:00 pm
Commercial Loans are Under Pressure Commercial real estate owners are coming under increasing pressure from a dangerous combination of falling commercial real estate value and high interest rates. The combination of the post-Covid continuation of the trend of many white-collar employees...
Are Renters or Homeowners Happier?
Tue Mar 26 2024, 2:58 pm
Are Renters or Homeowners Happier? Are homeowners or home renters happier? Hmm. On the one hand, the satisfaction of ownership is quite fulfilling. But on the other hand, the maintenance, and repairs, and therefore expenses, never seem to end. According to an October 2019 study b...
Using Artificial Intelligence (AI) for Real Estate Photography
Sun Feb 25 2024, 3:38 pm
Using Artificial Intelligence (AI) for Real Estate Photography Every real estate professional understands the value of quality images to include in a listing, the purpose of which is to highlight the properties best features. AI is a game changer in this regard. For example, a ne...
A Reduction in the Sales Tax on Commercial Leases is Coming to Florida
Sun Feb 25 2024, 3:32 pm
A Reduction in the Sales Tax on Commercial Leases is Coming to Florida A reduction in the state tax on commercial leases could begin earlier than anticipated, perhaps as early as the summer. The earlier estimate is due to the replenishing of the state’s Unemployment Compens...
Seven Shores
Sun Feb 25 2024, 3:29 pm
Seven Shores Seven Shores, a gated community, is the most recent addition to the Naples landscape. The builders, Toll Brothers, are a Fortune 500 Company and among the top five homebuilders in the U.S. Seven Shores is comprised of four unique collections, comprising expansive sin...
Applications for Mortgages Jump
Tue Jan 30 2024, 3:39 pm
Applications for Mortgages Jump Mortgage applications surged as rates fell across the board. Fixed income vehicles including treasury bills and bonds, corporate bonds, guaranteed investment certificates, etc. all declined, as did mortgage rates. As inflation declines, so do the above ra...
Real Estate Inventories Compared to Pre-Covid Levels
Tue Jan 30 2024, 3:36 pm
Real Estate Inventories Compared to Pre-Covid Levels Recently falling mortgage rates have encouraged an increase in homeowners to list their homes for sale. But the increase in inventory is still far below the inventory of homes during pre-pandemic levels. The number of homes fo...
Milan Villas
Tue Jan 30 2024, 3:27 pm
Milan Villas This charming, gated community is perfectly situated in Estero at the crossroads of Three Oaks Parkway and Williams Road, is slated to open in June of this year. Milan Villas will have only 44 twin villas (88 residences). For those seeking a measure of luxury, in an intimate setting,...
Home Construction Surges
Sat Dec 30 2023, 1:49 pm
Home Construction Surges New Home construction unexpectedly surged in November to a one and a half year high as mortgage rates began to dip and homes for sale remained scarce. The surge could continue with expected further mortgage rate declines and incentives from builders. “M...
Is Your Condo Blacklisted?
Sat Dec 30 2023, 1:44 pm
Is Your Condo Blacklisted? It has come to light that Fannie Mae and Freddie Mac hold a secret list of condos and co-ops which they will not underwrite with mortgages. To understand the functions of Fannie and Freddie is most important. In essence, they purchase the mortgages that banks...
The Federal Reserve and it’s Successful Fight (so far) in Defeating Inflation
Sat Dec 30 2023, 1:12 pm
The Federal Reserve and it’s Successful Fight (so far) in Defeating Inflation It’s hard to believe, but the big economic story of 2023 is the likelihood of the defeat of inflation. Inflation (as measured by the Consumer Price Index – CPI) reached a high of 9.1% in June...
Home Prices are Rising Again!
Fri Nov 24 2023, 1:31 pm
Home Prices are Rising Again! The most reliable and respected survey of U.S. home sales and prices is the Standard and Poor’s CoreLogic Case-Shiller Home Price Indices. The firm issues monthly and quarterly reports and studies concerning U.S. home sales and price movements during...
Terreno
Fri Nov 24 2023, 1:27 pm
New Community: Terreno This new gated community is located at 1729 Terreno Boulevard, Naples. Terreno will have a total of 680 one and two-story single-family homes and a plethora of lifestyle amenities. Choice views include water (there are 17 lakes in total), preserve, and golf c...
Homebuyers Wages Grow 22%
Fri Nov 24 2023, 1:22 pm
Homebuyer Wages Grow 22% While the average American saw his wages grow by just 4% in 2023, the average homebuyers wages grew 22% to $107,000 according to the National Association of Realtors (NAR) 2023 yearly Profile of Homebuyers and Sellers. While that percentage difference may s...
Two New Florida Real Estate Laws Took Effect on October 1
Sat Oct 28 2023, 12:32 pm
Two New Florida Real Estate Laws Took Effect on October 1 This article is meant for readers to keep up to date with new real estate laws which may affect them directly. HB 919 concerns homeowners’ associations. The aim of the law is to enhance the transparency of Homeowners Ass...
Low Inventory is not Only Affecting Individual Buyers, But Landlords Too
Sat Oct 28 2023, 12:29 pm
Low Inventory is not Only Affecting Individual Buyers, But Landlords Too. Just as Wall Street was on the path of developing a new income stream - buying up private residences across the country to rent, hazard signs began to appear – high mortgage rates and a dearth of properties...
New Development: Metropolitan Naples
Sat Oct 28 2023, 12:26 pm
New Development: Metropolitan Naples Metropolitan Naples is located on 5.3 acres at the intersection of Fifth Avenue South and Davis Boulevard within an active neighborhood where people shop, dine, and live. The expansive ultra-luxurious development will revolutionize Downtown Naples. T...
How are Home Prices Doing in 2023?
Thu Sep 28 2023, 2:04 pm
How are Home Prices Doing in 2023? With 30-year fixed mortgage rates above 7%, the monthly burden is too heavy for many prospective buyers. As a result, home sales sagged in July 2.2% to a six-month low, with all four major U.S. regions reporting declines compared to last year, acc...
Home Décor Trends
Thu Sep 28 2023, 1:59 pm
When it Comes to Home Décor Trends, Traditional Modes Have Changed Dramatically The new home décor trends are anything but conventional. Individual creativity is overtaking tradition. People are seeking styles and colors that they relate to, that they find uplifting, and o...
How Artificial Intelligence Will Transform Real Estate
Thu Sep 28 2023, 1:57 pm
How Artificial Intelligence Will Transform Real Estate The artificial intelligence (AI) revolution will transform the real estate industry, as well as all other industries. Whether you’re looking to buy or sell a home, AI will serve both to streamline and ease your efforts while o...
Remember When Owning a Million Dollar Home Was a Sign of Wealth and Status
Mon Aug 28 2023, 1:13 pm
Remember When Owning a Million Dollar Home Was a Sign of Wealth and Status? According to Redfin, a giant real estate brokerage firm, nearly one in ten homes in the U.S, are worth at least one million dollars. To be more precise, that number is just over 8%. This is not far off from the...
Foreclosure Rates are the Lowest on Record
Mon Aug 28 2023, 1:05 pm
Foreclosure Rates are the Lowest on Record In the second quarter of 2023 (ending in June), the Mortgage Bankers Association (MBA), reports that delinquency rates fell to a record low due to a strong job market and low interest rates prevailing for most homeowners. (Remember, most homeow...
A New Home Insurer Enters the Market
Mon Aug 28 2023, 12:49 pm
A New Home Insurer Enters the Market The Florida Office of Insurance Regulation (OIR) has approved the Texas based Mainsail Insurance Company (a property and casualty insurer) as a new property insurer for the state of Florida. Due to hurricanes and their wind and water damage to homes...
New Bill May Impact Some Foreign Buyers
Tue Jul 25 2023, 1:48 pm
New Bill May Impact Some Foreign Buyers While many realtors are well aware of specific regulations concerning foreign buyers, a new law has been enacted as of July 1st. Governor DeSantis signed Senate Bill 264: Interests of Foreign Countries (SB264). The law limits the sale of certain F...
Mortgage Rates Above Seven Percent
Tue Jul 25 2023, 1:42 pm
Mortgage Rates Above Seven Percent The 30-year fixed mortgage rate reached 7.19% as of July 24th, up for the fourth consecutive week. The rate exactly a year ago was 5.51%. It’s now the highest it’s been since January 2000. Housing market watchers expect elevated rates...
Home Shortage Still Impacting Country
Tue Jul 25 2023, 1:38 pm
Home Shortage Still Impacting Country While the consumer price index for June has cooled to 3%, interest rates remain the major outlier. Potential homebuyers are facing a double whammy. Firstly, today’s interest rate for a 30-year fixed mortgage is 7.19%. This rate could add hundr...
Citizens Will Have Rate Hikes … but Less Than Other Insurers
Thu Jun 29 2023, 5:32 pm
Citizens Will Have Rate Hikes … but Less Than Other Insurers Citizens Property Insurance Corporation (Citizens) was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for homeowners who could not obtain ins...
One-third of U.S. Home Sales are Using all cash – More in Florida
Thu Jun 29 2023, 5:30 pm
One-third of U.S. Home Sales are Using all cash – More in Florida The fact that more homebuyers are using all cash for buying a home should come as no surprise. With the average 30-year fixed mortgage rate at about 7.4% it makes good economic sense. After ball, online bank rates h...