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

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.


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New Daniel’s Complex

 

 

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.

Average U.S. 30-year Mortgage Rate Falls

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Average U.S. rates on fixed mortgages declined last week, edging closer to historically low levels.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan fell to 4.32 percent from 4.37 percent last week. The average for the 15-year mortgage eased to 3.32 percent from 3.38 percent.

Mortgage rates have risen about a full percentage point since hitting record lows roughly a year ago.

The increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low.

Deeming the economy to be gaining strength, the Fed announced in December and January — and again on Wednesday — that it was reducing its monthly bond purchases.

The Fed said after its latest two-day policy meeting that even after it raises short-term interest rates, the job market strengthens and inflation rises, the central bank expects its benchmark short-term rate to stay unusually low.

Fed Chair Janet Yellen stressed that with the job market still weak, the Fed intends to keep short-term rates near zero for a “considerable” time and would raise them only gradually. Yellen also suggested that the Fed could start raising rates six months after it halts its monthly bond purchases, which most economists expect by year’s end. That means short-term rates could rise by mid-2015.

The National Association of Realtors reported Thursday that sales of U.S. existing homes slipped in February, the sixth decline in seven months as severe winter weather, rising prices and a tight supply of homes discouraged buyers.

Still, there were some signs that the market could pick up in the coming months. Sales improved in the South and West, where weather was less of a factor. And more people decided to sell, boosting the supply of available homes.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was unchanged at 0.6 point. The fee for a 15-year loan also held steady at 0.6 point.

The average rate on a one-year adjustable-rate mortgage edged up to 2.49 percent from 2.48 percent. The average fee remained at 0.4 point.

The average rate on a five-year adjustable mortgage fell to 3.02 percent from 3.09 percent. The fee was unchanged at 0.4 point.

How to Tell When a Neighborhood Will Be Hot!

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Bargain-hunting home buyers willing to purchase in an up-and-coming neighborhood can get a good deal and, as Trulia’s Michael Corbett says, “get in on the ground floor of appreciation.”

Here are five signs that a neighborhood is about to take off:

  1. An up-and-coming neighborhood often is characterized by retail or residential construction that is already in progress.
  2. They also often are found where trendy establishments, such as wine bars or farm-to-table restaurants, are opening.
  3. Buyers also should look for neighborhoods adjacent to big cities or those where crime is on the decline.
  4. Public building projects are on the rise.
  5. Renovated homes are going on the market.