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...
Best Beach Towns in Florida
Thu Jun 29 2023, 5:23 pm
Best Beach Towns in Florida Usually, the best beaches in each region are listed/ranked, but the website, Stacker, and Travel and Leisure Magazine (in separate studies) took a more interesting and probably wiser track by ranking instead not the best beaches, but, rather, the best beach t...
Debt to Income Mortgage Fees Canceled
Tue May 23 2023, 11:55 am
Debt to Income Mortgage Fees Canceled The Federal Housing Finance Agency (FHFA) has rescinded the upfront fees based on a borrower’s debt to income ratios (DTI) for loans acquired by Fannie Mae and Freddie Mac. The fees were widely opposed by the mortgage and real estate indust...
RiverCreek in Estero
Tue May 23 2023, 11:51 am
New Development: RiverCreek in Estero This 300-acre community of private homes is gated and manned 24 hours a day. Located about a 30-minute drive from downtown Naples, the homes will offer either water views of lakes (10 lakes in total), landscaped, or lush preserve views. In all,...
What Retiring in Florida Really Looks Like
Tue May 23 2023, 11:18 am
What Retiring in Florida Really Looks Like – the Fun Side There are so many fun reasons to retire/live in Florida, it’s impossible to put them all in one article. But, here at least, is a start: Florida is only one of seven states with no state income tax. So why is th...
Marco Island Facing Lawsuit Over Short-Term Rental Registration Rules
Mon May 1 2023, 2:16 pm
Marco Island Facing Lawsuit Over Short-Term Rental Registration Rules As Naples/Marco Island is ranked as the sixth wealthiest statistical area in the country, and as its population doubles in the winter months, it’s no wonder that some of its residents want the opportunity to ren...
High Credit Scores Will Mean Higher Mortgage Rates
Mon May 1 2023, 2:09 pm
High Credit Scores Will Mean Higher Mortgage Rates The homebuying market is about to enter unknown territory as a new mortgage interest rate rule goes into effect on May 1st. Impending federal rules on mortgage rates will mean that buyers with high credit scores will actually pay intere...
An Interesting FHA Program
Mon May 1 2023, 2:04 pm
An Interesting FHA Program The Federal Housing Administration (FHA), a division of the Department and Housing and Urban Development (HUD), offers an interesting program named the 203K. With prices still high across the country, some people may figure they can save some money by buying a...
Flood Insurance Could Be Required for Citizens Insurance Customers
Mon Mar 27 2023, 2:12 pm
Flood Insurance Could Be Required for Citizens Insurance Customers 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 for various reasons c...
What’s in Store for the Housing Market in 2023?
Mon Mar 27 2023, 1:52 pm
What’s in Store for the Housing Market in 2023? With the 30-year fixed mortgage rate at just over seven percent, home sales are continuing their downward trend. Additionally, the nation’s housing supply remains limited which keeps home sales and prices from falling, further...
Florida has Some of the Lowest Tax Rates in the Country
Mon Mar 27 2023, 1:48 pm
Florida has Some of the Lowest Tax Rates in the Country According to the National Association of Realtors (NAR), more Americans moved to Florida in 2022 than to any other state, followed by Texas and North and South Carolina. While there are multiple reasons for this, it is undeniable t...
New Dining Options Coming to Bonita Springs and Estero
Mon Feb 27 2023, 6:57 pm
New Dining Options Coming to Bonita Springs and Estero Ladies and gentlemen, boys and girls, and children of all ages, moisten up those taste buds because people living near Estero and Bonita Springs will soon have many more restaurants to choose from, mostly of the casual, down home st...
HELOCS is the New Refinancing
Mon Feb 27 2023, 4:59 pm
HELOCS is the New Refinancing A home equity line of credit (HELOC) is a line of credit secured by your home that gives you a revolving credit line to use for expenses or to consolidate higher interest rate debt on other loans such as credit cards. A HELOC often has a lower interest rate...
Cash Sales Make Up Huge Percentage in Florida Real Estate Market
Mon Feb 27 2023, 4:55 pm
Cash Sales Make Up Huge Percentage in Florida Real Estate Market Cash residential sales have been skyrocketing. Thirty-one percent of U.S. home sales were for all cash in December of 2022. That’s the highest rate since January of 2011. The main driver of the surge is the high mort...
Are Mortgage Rates Finally Declining?
Wed Feb 1 2023, 9:09 am
Are Mortgage Rates Finally Declining? Mortgage rates dropped for the third week in a row last week. According to most analysts, rates are expected to keep falling in 2023 as inflation abates. The board of the Federal Reserve is currently meeting, and it is widely believed they will rais...
Florida Real Estate Trends 2023
Wed Feb 1 2023, 9:06 am
Florida Real Estate Trends 2023 Despite the pandemic, 2020 and 2021 were strong years for the Florida real estate market. But in 2022 the residential housing market was negatively affected by escalating inflation and rapidly rising mortgage rates. Florida Realtors Chief Economist, Dr...
Stella Naples
Wed Feb 1 2023, 9:03 am
New Community: Stella Naples This ultra-luxury condominium consists of one building containing a total of ten residences, eight of which have already been sold. Contemporary design combining California coastal with modern farmhouse influences yields this urban wonderland of luxury and s...
Who Pays if a Neighbor’s Tree Falls on Your Property and Causes Damage
Thu Dec 29 2022, 1:40 pm
Who Pays if a Neighbor’s Tree Falls on Your Property and Causes Damage? There’s an old philosophical question that has been debated for millennia: If a tree falls in the forest but no one hears it, does it make a sound? While I’m not, ahem, going to attempt to solve th...
Florida Property Insurance Changes
Thu Dec 29 2022, 1:35 pm
Florida Property Insurance Changes Lawmakers of both political parties agreed that the homeowners’ insurance market is in a crisis that has been escalating for years. Six Florida insurance companies have gone out of business in 2022 alone. Why? While Florida, in 2019, accounted...
Sonoma Oaks
Thu Dec 29 2022, 1:33 pm
Sonoma Oaks Townhouse homes at Sonoma Oaks, a new condominium community located off Collier Boulevard near Vanderbilt Beach Road in Naples, will begin to become available in March 2023. This gated community features a large swimming pool with cabanas, a lake and attached two-story homes. Th...
Holiday Events in SWFL
Tue Dec 13 2022, 3:12 pm
Holiday Events in SWFL With the holiday season swiftly approaching we can't help but feel the spirit of the season all around us. For some, Florida has been home forever. For others experiencing the holidays wearing flip flops and sunglasses can be a completely foreign feeling. So, whethe...
The U.S. Government will Be Guaranteeing Loans for Multifamily Landlords
Tue Nov 29 2022, 8:14 pm
The U.S. Government will Be Guaranteeing Loans for Multifamily Landlords Contrary to popular opinion Fannie Mae and Freddie Mac do not actually issue any mortgages. Rather, they guarantee mortgages that banks issue, providing that the borrower meets certain criteria. So, if a borrower d...