Archive for the ‘Buying real estate in Naples Florida’ Category

« Older Entries
Newer Entries »

Naples, Florida Real Estate – 2011 Housing Inventory ends at 5-year low

Tuesday, January 24th, 2012

According to recent reports published by the Naples Area Board of Realtors (NABOR), Annual Pending and Closed Sales Rise 

Statistics compiled by NABOR show an increase in overall sales with inventory diminishing in Collier County (excluding Marco Island).  

The available inventory declined 17 percent in 2011 with 7,581 available properties compared to 9,145 available properties in 2010. In the under $300,000 market category, the available inventory declined 21 percent to 3,771 properties in 2011 compared to 4,763 properties in 2010.

 Every market category showed sale increases in both pending and closed sales with the largest increase in the $1 million and above categories.

The 2011 report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties. The statistics are presented in chart format, along with the following statistics:

  • Single family pending sales increased 5 percent with 5,162 contracts in 2011 compared to 4,896 contracts in 2010.
  • Condo pending sales increased 11 percent with 4,908 contracts in 2010 compared to 4,422 contracts in 2010.
  •  The overall median closed price over $300,000 increased 2 percent to $550,000 in 2011 from $540,000 in 2010.
  •  The 2011 fourth quarter report showed overall pending sales for the 12 months ending December 2011 increased 8 percent to 10,071contracts compared to 9,319 contracts for the same 12 months of 2010.
  •  Overall closed sales in the $1 million to $2 million category increased 38 percent with 76 sales in the fourth quarter of 2011 compared to 55 sales in the fourth quarter of 2010.
  •  Single-family home sales in the $500,000 to $1 million price range increased 13 percent with 90 sales in the fourth quarter of 2011 compared to 80 sales in the fourth quarter of 2010.
  •  Condo sales declined 2 percent to 793 sales in the fourth quarter of 2011 compared to 808 sales in the same quarter of 2010.

For additional real estate market statistics, click HERE!

John R. Wood Realtors – The Symbol for Local Knowledge

Tags: , , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Market Updates | No Comments »





Foreign buyers see great opportunities in Southwest Florida Real Estate

Wednesday, January 18th, 2012

According to a  recent study by Credit Sesame, which used National Association of REALTORS® (NAR) data for its findings, foreign investors are finding plenty of deals in the U.S. when it comes to real estate, and, as such, more international investors are flocking to key states to buy their piece of the American Dream. 

Mexico is the top country of origin for foreign buyers purchasing U.S. homes, according this study.

The top destinations of foreign investors for U.S. real estate purchases are: 

1. Florida: Thirty-one percent of all home purchases in that state are made by foreign buyers, with most coming from Cuba, Haiti, and Colombia.

2. California: 12 percent of all home purchases (most coming from Mexico, the Philippines, China, India, and Vietnam)

3. Texas: 9 percent of all home purchases (most coming from Mexico, India, Vietnam, China, and the Philippines)

To search for homes for sale in Naples, Estero, Bonita Springs or Marco Island, click HERE!

 John R. Wood Realtors – The Symbol of Local Knowledge

Source: “Housing More Affordable Than Ever … for Foreign Investors,”

Tags: , , , , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Foreign Buyers in Southwest Florida | No Comments »





Winter 2012 Digital Edition of John R. Wood Realtors’ Estate Lifestyles is here!

Tuesday, January 17th, 2012

The Winter 2012 Digital Edition of John R. Wood Realtors’  Estate Lifestyles is now here!

 Click on the image to see the best luxury home listings in Naples, Florida right now!

John R. Wood Realtors – The Symbol of Local Knowledge

Tags: , , , , , , , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Estate Lifestyles, Luxury real estate market Naples Fl | No Comments »





Naples Florida Real Estate – 2011 Home Buyers and Sellers Report

Tuesday, January 10th, 2012

Each year, the National Association of Realtors® (NAR) surveys home buyers and sellers in an effort to get information about their buying and selling experiences.  NAR just released its 2011 report and it shows trends that have not been seen in the last 10 years. This is largely due to more stringent credit standards, which are changing the face of the buyer, seller and who can get financing.

Highlights:

  • 37% of recent home buyers were first-time buyers, a drop from 50% in 2010.
  • The typical home purchased was 1,900 square feet, built in 1993, and had three bedrooms and two bathrooms.
  • 41% of buyers and 39% of sellers found their agent through a referral from a friend or family member.
  • About half of home sellers traded up to a larger-sized and higher-priced home.
  • Recent sellers typically sold their homes for 95% of the listing price, and 61% reported they reduced the asking price at least once.

For the full report, visit the NAR website or watch a video overview HERE.

 Let John R. Wood help you navigate the local market here in Southwest Florida. Whether you’re looking to buy or sell, we can assist you in understanding these trends, setting your expectations accurately.

To search for a John R. Wood Agent, click HERE!

To find homes for sale in Naples, Bonita Springs and Estero, click HERE!

 John R. Wood Realtors – The Symbol for Local Knowledge

Tags: , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Florida Real estate | No Comments »





Naples, Florida Real Estate – Mortage Rates dip lower this week

Monday, January 9th, 2012

In its weekly mortgage survey, Freddie Mac just reported that mortgage rates took another dip this week, matching at or near the all-time record lows. For the fifth consecutive week, 30-year fixed-rate mortgages have averaged below 4 percent, which was unheard of until a few months ago. 

“Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement.

Pending home sales for existing-homes soared 7.3 percent in November — its strongest pace since April 2010, the National Association of REALTORS® recently reported.  Construction spending also increased in November by 1.2 percent — all serving as positive signs that housing is on the rebound.

Here’s a closer look at rates for the week ending Jan. 5: 

  • 30-year fixed-rate mortgages: averaged 3.91 percent, with an average 0.8 point, matching its previous record low that it set a few weeks ago. Last week, 30-year rates averaged 3.95 percent and a year ago at this time, 30-year rates averaged 4.77 percent. 
  • 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.8 point, dropping from last week’s 3.24 percent average. Last year at this time, 15-year mortgages averaged 4.13 percent.
     
  • 5-year adjustable-rate mortgages: averaged 2.86 percent, with an average 0.7 point, dropping from last week’s 2.88 percent average. Last year at this time, 5-year ARMs averaged 3.75 percent. 
  • 1-year ARMs: averaged 2.80 percent this week, with an average 0.6 point, inching up slightly from last week’s 2.78 percent average. A year ago, 1-year ARMs averaged 3.24 percent. 

To find a mortgage lender, talk to your John R. Wood Agent today – just click HERE!

To search homes for sale in Naples, Estero, Bonita Springs and Marco Island, click HERE!

John R. Wood Realtors – The Symbol for Local Knowledge

Source: Freddie Mac

Tags: , , , , , , , , , , , , , , ,
Posted in Buying a Home, Buying a Naples Florida Home, Buying real estate in Naples Florida, News | No Comments »





Pending Home Sales Report Released

Thursday, January 5th, 2012

The National Association of Realtors (NAR) released its latest pending home sales index figure last week and for the second month in a row the index is up. Additionally, the index has broken 100.

This is important because the only time since the housing boom collapsed that the index has broken 100 is when the home owner tax credit was in effect.  The fact that the index has returned to that level a year since the credit has been in effect means the housing market is strengthening completely on its own, without any stimulus.

NAR Chief Economist Lawrence Yun is upbeat about 2012 because in a number of areas indicators are pointing upward. Not only are home sales up but housing starts are up and home prices are stabilizing in many markets and heading up in some. In areas where they’re still down, the declines aren’t that great. More fundamentally, broader U.S. economic signs are looking positive, including the all-important jobs picture. About 100,000 job are being created a month, and that could rise to 150,000—still not a quick enough pace to get us back to where we were before the downturn but the headwinds are in the right direction.

Click HERE to see a video of NAR Chief Economist Lawrence Yun, discussing the report!

To search for homes in Naples, Estero and Bonita Springs, Florida, click HERE!

John R. Wood Realtors – The Symbol for Local Knowledge.

Tags: , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, National Market Updates | No Comments »





Buying a home in Naples, Florida may include understanding the lending process

Wednesday, January 4th, 2012

As a country, we are lucky enough to have several mortgage options. These include fixed-rate mortgages (FRMs) with terms ranging from 10 to 40 years, and adjustable-rate mortgages (ARMs) with 30-year terms but initial rate periods ranging from one to 10 years. Many of these mortgages have an interest-only payment option for the first five or 10 years. And all are offered with multiple combinations of interest rate and lender fees.

 However, having many options leave some faced with making a selection, but with no idea how to make the right selection.  Most focus on the immediate financial burdens imposed by the mortgage, and give little thought to the future.

Borrowers should aim to be as wealthy as possible when their mortgage is paid off. To meet that objective, and subject to the constraints discussed below, a borrower should select the mortgage that has the lowest net cost over the period he or she expects to have the mortgage.

Your John R. Wood Agent can help you navigate through the mortgage process. His/her knowledge and experience can help you decide what type of mortgage is best for you and how to find a lender.

It is 2012 and if this is the year to buy that home, you’ll want to start exploring the lending process now. Let John R. Wood Realtors help you.

 To contact a John R. Wood agent today, click HERE!

 To see homes for sale in Naples, Bonita Springs and Estero, click HERE!

 John R. Wood Realtors – The Symbol for Local Knowledge.

Tags: , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Mortgage Rates Naples Florida | No Comments »





Naples, Florida Real Estate – Understanding the mortgage Loan cycle can make the process easier

Tuesday, January 3rd, 2012

Happy New Year! Now that we’ve rung in the New Year, many of you are seriously looking to purchase a new home, second home or vacation property.   You’ll be happy to know that mortgage rates are still at record lows.

However, the best time to apply for a mortgage may not just hinge on market conditions. Timing actually plays a critical role in in this process. Knowing some information about your mortgage lender will help get your application serviced.

Every mortgage lender has a regular monthly business cycle.  As you might expect, compensation drives a lot of this cycle. And the mortgage note itself, for example, becomes worthless if not signed in the month drawn.  Here is an example of a typical cycle:

The beginning of the month is generally devoted to acquiring and setting up new loans.

The middle of the month is all about gathering trailing documents and getting loans ready for month-end.

The end of the month is a mad rush to get as many loans closed as possible.

The best time to start the loan application process is always the first few business days of the month.  This is when lenders are looking to start new business. Conversely, the worst time of the month to apply is the last week of the month. This is when the push to close loans is in full swing and it is tough to service a new application.

While your loan officer is always going to be happy to take your application, you might just find the process a little smother if you apply at the beginning of the month as opposed to end when he/she are scurrying to meet month-end closings.

Does that mean that you should never apply late in the month?  No. But it does mean that you should set your expectations based on where you are in the mortgage lending business cycle.

If it is not feasible to take advantage of the attention and focus you can get at the first of the month, here are a few tips to improve your refinance experience:

Get organized

Your lender is going to ask you for a lot of financial documents. Make sure they’re at your fingertips.

Submit a complete application

If you supply a complete set of documents with your application, your processor will be able to get your loan straight to underwriting.

Provide detailed information and explanation

Consider how your application is going to appear to a risk-averse underwriter. Explain any quirks in your financial history, such as employment gaps or past derogatory credit.

Anticipate delays

Make sure you include a few “buffer” days in your rate lock. You don’t want to lose your rate over delays that are outside of your control.

For more information about the mortgage loan process, contact your John R. Wood Agent today!

Search for homes for sale in Naples, Bonita Springs and Estero NOW!

John R. Wood Realtors – The Symbol for Local Knowledge.

Source: KCMBlog

Tags: , , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Home loans Naples Florida | No Comments »





Happy New Year from John R. Wood Realtors!

Sunday, January 1st, 2012

The New Year offers the perfect opportunity to reflect on current circumstances and dream up ways to improve and enhance our lives.

From our family to yours…may the coming year bring your dreams to fruition. 

Happy New Year from John R. Wood Realtors!

John R. Wood Realtors – The Symbol for Local Knowledge

Tags: , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, Naples Florida Real Estate | No Comments »





Housing 2012 – what is the forecast?

Thursday, December 29th, 2011

According to housing experts in a recent article in Kiplinger, the worst of time for housing may be over. Nationally speaking, after median home price have dropped nearly 40 percent nationwide, a rebound seems to be taking shape. Some experts say the market may stay flat for a while before gradually picking up. 

According to the article, predictions for the national real estate market in the coming year are:

Home prices stabilize: Mark Sandi, chief economist at Moody’s Analytics, predicts that home prices nationwide may still drop another 3 to 5 percent in 2012, but the New Year will most likely finally bring a leveling off of home prices before gains start to take shape in 2013. When markets do begin to stabilize in the New Year, “price appreciation tends to spread unevenly, creating a lot of confusion about where the recovery is occurring and when,” David Stiff, chief economist at Fiserv Case-Shiller, told Kiplinger. “Even within a single city, more desirable neighborhoods will stabilize first, while prices in other neighborhoods may fall at a rapid pace.”

Housing affordability high: Housing affordability — the ratio of median home prices to median family income — will likely remain at record levels in 2012. Homes in many cities are “substantially undervalued,” the Kiplinger article notes. That may even lead to a mini bubble with double-digit spikes in prices, such as an increase of 10 to 15 percent in a given year in some markets, housing experts say.  

Low mortgage rates: Helping to keep affordability high, low mortgage rates are expected to continue on in 2012 — at least the first part of the year, economists predict. The 30-year fixed-rate mortgage, the most popular among home buyers, has been hovering under a 4-percent average the past few weeks, staying in record low territory. Rates are expected to stay between 4 to 5 percent in 2012, predicts Guy Cecala, publisher of Inside Mortgage Finance, an industry publication. 

Sales increases: The National Association of REALTORS® has already been showing a tick up in sales taking shape with increases in existing-home sales during the summer and early fall of 2011. High inventories of homes continue to flood the market but a drastic slowdown in new-home building the past three years is “gradually easing the surplus,” the Kiplinger article notes. 

Foreclosures: Foreclosures remain the problem and still plague many markets. After a slowdown with lenders processing the paperwork, foreclosures have began to pick up once again. About 1.84 million home loans are 90 days or more delinquent and 2.17 million have finished the foreclosure process but aren’t up for sale yet, according to RealtyTrac data. Alex Villacorta, director of research and analytics at Clear Capital, told Kiplinger that he predicts regardless of the downward price pressure caused from foreclosures, overall home prices won’t fall as long as lenders bring additional foreclosures to the housing market at a steady pace. 

How does all of this affect Southwest Florida? The market, especially the luxury home market, is continuing to increase in sales and activity and based on the latest market report, all signs point to a very busy selling season.

To see the latest market reports for Naples, Bonita Springs and Estero Florida, click HERE.

To search for homes for sale in Naples, Bonita Springs and Estero, Florida, click HERE.

John R. Wood Realtors – The Symbol for Local Knowledge

Source: “What’s Ahead for Home Prices in 2012,” Kiplinger

Daily Real Estate News

Tags: , , , , , , , , , , , ,
Posted in Buying real estate in Naples Florida, National Real Estate Market News | No Comments »





« Older Entries
Newer Entries »