Pending Home Sales Leap 5.5% in February

WASHINGTON (March 29, 2017) — Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors®. All major regions saw a notable hike in contract activity last month.

The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, jumped 5.5 percent to 112.3 in February from 106.4 in January. Last month’s index reading is 2.6 percent above a year ago, is the highest since last April (113.6) and the second highest since May 2006 (112.5).

https://www.nar.realtor/news-releases/2017/03/pending-home-sales-leap-55-in-february  

Easter Weekend Open House Saturday 10-1pm…..Egg-Ceptional Value, under $100 per SQ FT

The good ole days……. so they thought

Like any frontier town, Cape Coral’s first businesses included a grocery, a bank, a newspaper and, well, like any Florida frontier town, a realty—aptly named Wonderland Realty, as most early buyers were wondering what they had gotten themselves into. They seemed to be abandoned in the middle of a strip-mining operation. In one direction, nothing but miles of white sand and raw canal banks; in the other, glittering water. They were marooned in “Wonderland.”  more

The Top 3 Hottest Real Estate Markets

Trulia recently published its list of the 10 hottest real estate markets to watch in 2017, and-no surprise-several coastal markets made the list. Trulia based its ranking of the 100 largest metro areas across the country on five criteria: a high search interest, a decreasing rate of vacancy, high affordability, a high rate of job growth, and a high population of people happy with the outcome of the presidential election.

The “hottest” markets vary depending on who you talk to-Zillow’s ranking of the hottest markets of the year looked very different. But if you’re looking for coastal real estate in an affordable city that has few people moving out of it, this list of the hottest coastal markets of 2017 might offer some suggestions. If you’re looking to capitalize on the recovering housing market and purchase your dream coastal escape, consider these hot markets:

1. JACKSONVILLE, FLORIDA

Number one overall and number one on the coastal list, Jacksonville has a high rate of job growth and high interest from out-of-towners looking to move there. Best of all, it’s more affordable than other, similar markets in the state.

2. CAPE CORAL-FORT MYERS, FLORIDA

Coming in at number two both overall and for coastal metro areas, the Cape Coral-Fort Myers area on Florida’s Gulf Coast has the fourth-highest rate of job growth in the country and a falling vacancy rate as people flock to its sunny shores.

3. DELTONA-DAYTONA BEACH-ORMOND BEACH, FLORIDA

Number three for coastal areas and number three overall on Trulia’s list, this area on Florida’s Atlantic side has a rate of job growth to match the Cape Coral-Fort Myers area and a great ratio of people looking to move there vs. people looking to move away-not to mention its long, sunny days and high temperatures year-round.

4. TAMPA-ST. PETERSBURG-CLEARWATER, FLORIDA

The Tampa-St. Petersburg-Clearwater metro area is on the Tampa Bay, on Florida’s Gulf side. It came in at five overall but is number four for coastal areas, with great job growth and affordability.

5. CHARLESTON-NORTH CHARLESTON, SOUTH CAROLINA

Charleston has been in the spotlight as a tourist hotspot so much lately that it’s not surprising that it’s also a great place to move. Ranked number seven overall and number five for coastal areas, this Lowcountry port city has a huge number of people looking to move there (while few are looking to move away), good affordability, and decent job growth-and an amazing culinary scene.

The next five coastal cities share the previous five’s high interest, good affordability, and job growth. Read on for the next best coastal areas to live:

6. NORTH PORT-SARASOTA-BRADENTON, FLORIDA

7. WEST PALM BEACH-BOCA RATON-DELRAY BEACH, FLORIDA

8. FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FLORIDA

9. NEW ORLEANS-METAIRIE, LOUISIANA

10. SAN DIEGO-CARLSBAD, CALIFORNIA

This article was originally published on CoastalLiving.com

Collier, Lee among Florida’s healthiest counties

Affluent St. Johns and Collier counties remain Florida’s healthiest communities, while the rural regions continue to suffer some of the highest rates of mental illness, substance abuse, and premature death, a new report finds.

Lee County ranks fairly high — now in 12th place in Florida — and is up from 20th place just two years ago, according to the 2017 County Health Rankings from the Robert Wood Johnson Foundation and the University of Wisconsin Population Health Institute.

The annual report assesses U.S. counties based on their economic health, crime, premature deaths, health insurance coverage, medical resources and a number of behavioral factors, such as smoking and drinking rates.

“We still have work to do in this community,” said Mary Andrews, who helps oversee community health initiatives for the Lee Health hospital system in Lee County. “But this type of information helps us design the types of plans that will be the most effective.”

Union County, home to about 16,000 residents and a maximum security prison, ranked last in Florida.

Some report highlights about Southwest Florida:

  • About 15 percent of Lee and Collier residents reported they were in “poor” or “fair” health. Florida’s overall rate is 17 percent.
  • Rates of obesity in Lee and Collier were 25 percent and 20 percent, respectively. Statewide, it’s 26 percent.
  • About 13 percent of Collier County adults smoke, and 16 percent do in Lee County. About 15 percent of all Florida adults still smoke.

The Healthy Lee initiative, a decade-old project to promote healthy living in Lee County, will produce its own report on the community’s health this summer.

While Lee County’s rankings have moved around year to year, Collier’s have consistently ranked high. It also earned the nation’s top spot in the Gallup-Healthways “well-being index.”

“It’s no surprise that Collier remains one of the healthiest counties to live in Florida,” said Stephanie Vick, administrator of the Florida Department of Health in Collier County, in a written statement. “We enjoy great weather year-round, have access to beautiful beaches and parks, have a robust health care system, opportunities to participate in community-wide health initiatives, enjoy low crime rates, and our children attend a healthy school system.”

Affluence is generally a good predictor of a community’s health ranking.  St. Johns and Collier counties have the highest median incomes in the state: $71,896 and $62,385, respectively.

While Union County’s median household income rate of $41,078 isn’t the lowest in Florida, it is below the state average.

But such lists can also overshadow a community’s deficiencies. For instance, about 26 percent of Collier County residents under 65 were uninsured in 2014 — the sixth highest rate in Florida.

“Sometimes a high-ranking county can kind of mask what’s going on,” said Kate Konkle, an associate researcher at the University of Wisconsin Population Health Institute. “Not everyone in the county may be feeling like that’s an accurate picture of what they’re experiencing.”

This year, the report took a deeper look at deaths among people younger than 75. Drug overdoses, particularly among opioid abusers, are behind a “dramatic increase” in deaths among 15- to 44-year-olds in recent years, the report found.

Experts had assumed this was predominantly a problem in small, rural areas, Konkle said.

“And it certainly is, but what our researchers found was that, actually, the suburban counties went from the lowest rates of premature deaths due to overdoses to the highest within a decade,” she said. “I think many of us were surprised to see that.”

The highest rates of drug overdose deaths in Florida were in Dixie (31 per 100,000 residents) and Manatee (29 per 100,000 residents) counties. Lee and Collier’s rates were 13 and 12 per 100,000 residents, respectively.

Forty-six Florida counties saw overall improvements in premature death rates, including Lee and Collier. Two, Citrus and Gilchrist, saw worsening rates.

Daniel’s Land Project

Changes in county land use rules that could bring another 2,000 homes to sites near Daniels Parkway will go before county commissioners in the coming weeks.

Neighbors of one are battling against the change, while the other faces little opposition.

A county panel that makes recommendations to county commissioners on changes in the Lee Plan, the county’s basic land planning document, has endorsed the development of 1,315 new homes on a site at Daniels and State Road 82 that’s currently a part of the protected Density Reduction/Groundwater Resource area.

The Local Planning Agency gave a negative recommendation to a county proposal that would rezone an area at Palomino and Apaloosa lanes off Daniels to allow an additional 693 housing units.


Read More:
New Daniel’s Complex

 

 

Forclosures Decline, Home Sales Up!

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The median price of an existing single-family home in Lee County was $200,000 in June — an 8.1 percent increase from $185,000 in June 2013.

Also, sales of existing homes in Lee County in June spiked up from the same period last year, according to numbers released Tuesday by the Realtor Association of Greater Fort Myers and the Beach. However, the number of sales and the size of inventory decreased slightly from May.

Steve Koffman, broker and associate for Century 21 Sunbelt Realty in Cape Coral, said only the median price is up.

“If you look at waterfront properties, those prices are looking pretty flat,” Koffman said.

In May, the median price for a house was $195,000.

In June, there were 1,213 single-family sales, up 15.3 percent from last years’ 1,052 sales. Despite the increase, single-family home sales are down 6.2 percent from May 2014’s 1,293 sales.

“Buyers, in general, are declining,” Koffman said.

Short sales and foreclosures made up 20.1 percent of single-family home sales in June, while traditional sales made up 79.9 percent. Short sales and foreclosuresmade up 22.3 percent of sales in May 2014.

“Foreclosures and short sales are declining,” he said. “Those were remnants of people affected by the real estate crash.”

In Collier County, the median price for a house rose to $392,000 from $322,000 in June 2013.

 

The existing homes market is starting to level off from the real estate crash eight years ago.

The inventory of single-family homes for sale in June was 5,229, up 5.5 percent from June 2013. June’s inventory was down 311 from May 2014.

Increased prices gives people a chance to put their homes up for sale and then become buyers.

 

Foreclosure rates in Cape Coral-Fort Myers decreased for the month of May over the same period last year.

Information compiled by CoreLogic reveals that the rate of Cape Coral-Fort Myers area foreclosures among outstanding mortgage loans was 4.02 percent for May, a decrease of 3.11 percent in May 2013 when the rate was 7.13 percent. Foreclosure activity in Cape Coral-Fort Myers was higher than the national foreclosure rate, which was 1.73 percent in May.

Also, the mortgage delinquency rate in Cape Coral-Fort Myers decreased. In May, 7.27 percent of mortgage loans were 90 days or more delinquent compared to 11.25 percent for the same period last year, representing a decrease of 3.98 percent.

Source: CoreLogic

Highlights from reports

  • Highlights from the June 2014 existing homes reports:
  • In Lee, the median price of condos increased 5.6 percent in June to $171,000 from the $162,000 it was in June 2013.
  • The percentage of sellers getting the original listing price was 92.8. This is a 1.1 percent decrease from the 93.8 percent it was in June 2013.
  • The median days home was on the market in June was 53. This is a 7 percent decrease from June 2013, which was 57 days.
  • In Collier, closed sales on houses jumped to 419 from 408 in June 2013. Sales at $2 million or more declined to 16 from 22 in June 2013.

Sources: Realtor Association of Greater Fort Myers and The Beach; Naples Area Board of Realtors

Look For Us In This Saturday’s News-Press!

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This Saturday’s Issue of The News-Press features TechVenture Real Estate and largest unit located in the luxurious Marina South at Cape Harbour!
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Plenty Cooking Outdoors

Screen Shot 2014-07-07 at 7.50.03 AMHomes in Southwest Florida are bringing the inside outside. All the comforts of home from the plush couches to dining room tables to state-of-the-art kitchens are heading outdoors. A huge trend in outdoor living keeps getting bigger and more elaborate in new homes.

It used to be that homeowners wanted a small covered area on their lanai for a gas grill and a table to eat outside. Now the stand-alone grill is something of the past. The new outdoor kitchens have everything from grills and slow cookers to stovetops and refrigerators. The tables have gone from plastic to metal or glass and the seating from wooden chairs with a cushion to full couches.

“Everyone has an outdoor kitchen,” said Nicky Weston, marketing manager for London Bay Homes. “That one I do have in every house. That is important to every client that I have. I haven’t met one that doesn’t want an outdoor kitchen.”

London’s Bay’s new Brighton model not only has an outdoor kitchen and living area, but a design that keeps the flooring, ceiling and furniture inside and outside streamline so with the doors pushed fully open it is hard to tell where the inside ends and the outside begins.

 

Screen Shot 2014-07-07 at 7.50.16 AMBuilders say it’s a lifestyle that their clients clamor for.

“We hear a lot of times people get off work and they want to be outside,” explained Dan Dodrill, owner of Daniel Wayne Homes. “I just live out there. We have a barbecue, nice furniture, TV, fireplace.

It’s a lifestyle. They say they just want to live out there, retreat and really enjoy the Southwest Florida weather.”

Snowbirds spend their time here when the weather is at its best. They don’t have to worry about the heat and bugs. They are also grateful to be away from the snow and cold and want to take advantage of the outdoors.

Dennis Casey loves his huge lanai that feels like an extension of his Quail West home.

“That adds 1,000 square feet to the house,” Casey said. “When we’re down there we spend a lot of time outside so that the outdoors are important, not just for entertaining, but for living.

That living just keeps getting bigger and more elaborate, local developers say.

“It used to be just a niche for a gas grill,” described Karen Tracey of Tracey Quality Building. “Now it is much bigger and they want the outdoor living atmosphere.”

“This is a big trend. They want lots of room for outdoor entertaining,” added Rob Woods, vice president of Michelangelo Custom Homes.

Don Krispin had a Michelangelo home built in Miromar Lakes and loves the outdoor living his home provides.

 

Screen Shot 2014-07-07 at 7.50.25 AM“The attention to architectural detail is second to none, and it just allows for the full enjoyment of the outdoor living that Florida offers,” Krispin said. “We have a covered lanai with roll-up screens, huge pool area, and a cabana house as well, which is sort of unique.”

Some of the more upscale homes have lanais with screens that roll down from the covered portion of the outdoors. That allows residents to have an unobstructed view when there are no bugs and nice weather, yet roll down the screens when needed.

“Especially in season we all want to be outdoors,” said Regan Reed, owner of Croix Interiors. “That’s why they buy in Naples.”

(via NewsPress)

Southwest Florida’s The Place To Rent To Boomers

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Southwest Florida is a great place for landlords to rent to boomers, according to a report out Thursday by RealtyTrac.

Charlotte County was ninth, Lee 17th and Collier 21st on the ranking of top baby boomer markets nationwide. As might be expected, those counties didn’t place on the Top 50 markets for Millennials.

The ranking was based on gross rental yield, meaning the average rent for a three-bedroom home divided by the median sales price. The study looked at counties with populations of 100,000 or more and at least a 10 percent increase in baby boomers (those born between 1945 and 1964).

Charlotte had a 12.73 percent rental yield and a 34.3 percent increase in boomers from 2007-2013. Lee had a yield of 10.03 and an increase of 27.6 percent in boomers; Collier was at a 6.64 yield and a 24.3 percent jump in boomers.

The top county, Pasco, which is just north of Tampa, had a rental yield of 20.93 percent. It had just an 11.7 percent rise in boomers, but they make up 27 percent of its population. In Lee, 28.1 percent of the population is boomers.