Florida Real Estate -- Your realty connection in SW Florida, this site contains important information for individuals involved in real estate transactions.

CITY OF CAPE CORAL 2006 ANNUAL REPORT
(Available March 2007) FAST FACTS:

    Population 163,127 (a 9% increase over 2005 Annual Rpt.)
    Median Age 44 (no change from 2005 AR)
    Median Income $51,344 (4% increase over 2005 AR)

South West Florida...
   "Very Affordable and Stunningly
   Beautiful"
    ...Come see what everyone is
    talking about and stay in one of
    our Beautiful Vacation Rentals

By Bankrate.com (8/25/06)
6 reasons your home {might not be} selling
FULL STORY...

GROW SMART
Florida will continue to grow, but without adequate planning, what will the state look like? Be part of the solution and discuss new urbanism in Florida with hands-on examples currently under development.
Go to: http://www.floridarealtors.org/LegislativeCenter/SmartGrowth and download the full PDF brochure. Still have questions? Call FAR's Office of Public Policy in Tallahassee at (850) 224-1400.

HOW’S FLORIDA DOING?

Gov. Charlie Crist promised to make Florida government more accessible to the public, and a new Web site seems to do just that. Florida Performs compiles data from a variety of sources and provides a synopsis of Florida’s current state of affairs. And it appears to be balanced, citing the bad news as well as the good. Under health it notes that the state ranks 47th out of 50 for access to services; and under housing, it calls the current situation “worsening” in a sector that is “a key indicator of the state's economy as a whole.” The site explains the importance of each issue and what, if anything, state government can do about it. Have an opinion? Visitors also can e-mail the governor and tell him what they think. To see Florida Performs, go to: http://www.floridaperforms.com

SPECIAL NOTICE(S)

FORECLOSURES
The number of homes in some stage of the foreclosure process rose again in the first quarter, according to RealtyTrac. And while Florida had a number of cities near the top of the list, California and Nevada landed the top spots. Stockton, Calif., ranked No. 1, with one out of every 30 homeowners in some stage of foreclosure in the first quarter.
COUNTRYWIDE
Bank of America Corp. will expand efforts over the next two years to help Countrywide Financial Corp. borrowers avoid foreclosure, a top bank executive said Monday, adding it would help at least 265,000 borrowers with $40 billion in problem loans.
HOUSING MARKET
According to the U.S. Census Bureau, 2.9 percent of all U.S. homes - excluding rental properties - were vacant and for sale in the first quarter, compared with 2.8 percent in the fourth quarter of 2007, setting a new record. The U.S. homeownership rate remained at 67.8 percent in the first quarter.
HOME SELLERS (4/25/08)
Real estate professionals are urging homeowners to price their properties to stand out in the current buyer's market. "In today's market, we are in a price war and a beauty contest," says Richard Bass, owner of Keller Williams Realty offices in Boca Raton and Boynton Beach. "The seller has to be the best-priced house out there, and they have to be the best-looking house out there."
HEALTH INSURANCE 4/24/08)
Over 93 percent of Florida's small business insurers support Gov. Charlie Crist's "Cover Florida" health plan that would offer rates as low as $150 per month, according to the governor's press office. Crist met with many of the insurers yesterday (FAR).
NEW HOME SALES (4/24/08)
New home sales were down again in March by 8.5 percent, with the median price 13.3 percent lower than in March 2007 (FAR).
SUBPRIME MORTGAGES (4/22/08)
A leading plan in Congress would make it easier for an at-risk homeowner to get an FHA-backed mortgage. If enacted as written, total monthly debt obligations could rise to 50 percent (or 55 percent at FHA's discretion) of monthly income, and a poor credit score or past delinquencies cannot by themselves disqualify a homeowner (FAR).
SHORT SALES (4/15/08)
It might get easier to talk banks into short selling a property. Fannie Mae says it will allow more struggling homeowners to sell their homes for less than they owe in a gambit that higher upfront losses could save money in the long-term by cutting down on the cost of foreclosures (FAR).
HOMEBUYERS (4/15/08)
An AP-AOL poll released today finds that a growing majority of Americans say they don't plan to buy a home anytime soon because it involves selling a current home to make it happen - even though 59 percent agree that it is a good time to buy. But 11 percent say they are certain or very likely to buy soon (FAR).
INTERNATIONAL (4/15/08)
The falling dollar makes the U.S. second-home market more attractive to international buyers, and NAR joined with SIMA, Europe's largest home and resort exposition, in Madrid last week to educate potential buyers about U.S. real estate investment options (FAR).

For More information go to "Real Estate News" on the Side-bar to the right.

BARGAIN HUNTING?

Buyers and sellers are waiting for the other to blink: The housing slowdown isn't giving buyers the big bargains that they might have hoped; and where there are discounts, buyers aren't leaping to grab them, says Karl E. Case, an economics professor at Wellesley College, who specializes in real estate. Case says the most recent survey he and a colleague conducted among homebuyers revealed growing pessimism about buying in a down market. "They're scared they're going to buy something very expensive that's going to fall in value," he says. Sellers, meanwhile, are being "stubborn. They seem to be holding out so far." The result: "People are staring each other down." Case described home prices as having "downward stickiness," meaning they don't fall nearly as much as they rise during the strong periods. In previous down periods, Case points out, the economy has been in a general slump. This time, in most parts of the country, the economy is growing and adding jobs. Case concludes the housing market is in "that flat period, of four to six quarters, where prices don't plummet. They hold on." Source: The Boston Globe, Andrew Caffrey (11/26/06) © Copyright 2006 INFORMATION, INC. Bethesda, MD

TIME TO CLOSE [THE] DOOR ON OPEN HOUSES?

Eighty percent of homebuyers used the Web to search for properties last year but only 42 percent visited open houses, reports NAR. Realty agents have long debated whether open house events are a useful tool as more and more serious buyers view properties online and make appointments to tour those that truly spark their interest. However, some sellers demand open houses because they want to know their agent is working hard to sell the home. Real estate associates who believe in the benefits of open houses say they allow buyers to view properties without making an appointment or commit to working with a real estate agent. In a modern twist, some schedule open houses at non-traditional weekend times, tantalize prospects with refreshments, and work with competitors to organize multi-agency tours. Advocates say this marketing tool also provides a way for associates to develop relationships with prospective buyers, who often go on to work with them to purchase a different home.
Source: RisMedia.com (10/10/07)
© Copyright 2007 INFORMATION, INC. Bethesda, MD (301) 215-4688

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