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The John R. Wood Realtors’ February/March digital issue of Homelook is now available!
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Posts Tagged ‘Bonita Springs homes’
Real Estate – The Alternative to Buying a Home
Thursday, February 9th, 2012The Alternative to Buying
If a family continues to rent, they are looking at a housing expense which will rise with the market. Rental costs increase by 3% a year historically. But today’s rental market favors the landlord to a greater degree. Below is a graph of how rental prices have increased recently and where they are projected to go over the next few years based on a report from Marcus & Millichap.
Hoping to save by delaying the purchase of a home may result in higher housing costs while you’re waiting, thus achieving the exact opposite result.
Check with a John R. Wood Agent to determine the best option for you and your lifestyle!
To find homes for sale in beautiful Southwest Florida, click HERE!
To learn more about Naples, Estero, Bonita Springs and Marco Island, click HERE!
Florida Real Estate – More Housing Markets Are Improving
Wednesday, February 8th, 2012
According to a report from the Daily Real Estate News, the list of housing markets showing signs of improvement in home prices and overall market conditions in February has grown to nearly 100 cities, according to the National Association of Home Builders/First American Improving Markets Index.
The index shows metro areas that have shown improvement in home prices, housing permits, and employment for at least six straight months.
In the latest index, some markets that were particularly hard-hit during the housing market crash — such as Miami and Detroit — were added to this month’s list. Such cities are seeing a turnaround in their sluggish housing markets, possibly already hitting bottom.
“Despite the many challenges that continue to drag on the housing recovery — including the tight lending environment for builders and buyers — improving conditions are slowly but surely spreading from one housing market to the next,” Bob Nielsen, NAHB chairman, said in a statement.
The 29 metro areas added to the list this month are:
- Napa, Calif.
- Deltona, Fla.
- Miami, Fla.
- North Port, Fla.
- Tampa, Fla.
- Augusta, Ga.
- Shreveport, La.
- Springfield, Mass.
- Cumberland, Md.
- Lewiston, Maine
- Boston, Mass.
- Detroit, Mich.
- Duluth, Minn.
- Rochester, Minn.
- Jefferson City, Mo.
- Kansas City, Mo.
- Hattiesburg, Miss.
- Omaha, Neb.
- Ocean City, N.J.
- Syracuse, N.Y.
- Springfield, Ohio
- Youngstown, Ohio
- Portland, Ore.
- Longview, Texas
- Memphis, Tenn.
- Provo, Utah
- Salt Lake City, Utah
- Bellingham, Wash.
- Kennewick, Wash.
While nearly 30 markets were added to the February index, seven markets dropped off the list this month as home prices started to soften. The metro areas dropped from this month’s index are: San Jose, Calif.; Washington, D.C.; Kankakee, Ill.; New Orleans; Worcester, Mass.; Jackson, Miss.; and Sherman, Texas.
To find homes for sale in beautiful Southwest Florida, click HERE!
To learn more about Naples, Estero, Bonita Springs and Marco Island, click HERE!
Naples, Florida Real Estate – Will the Real Estate Market Heat Up This Spring?
Tuesday, February 7th, 2012
The spring season usually brings an increase in buying and selling to the Southwest Florida real estate market. Nationally speaking, housing experts are mostly optimistic that this spring will be even better than recent years.
According to the National Association of REALTORS® (NAR), some signs are already there: Housing inventories are declining, housing affordability is at record highs, mortgage rates are at all-time lows, and the job market is improving.
In Southwest Florida, home sales have been edging up in recent months, and available inventories as of January 1, 2012 in the combined Naples, Bonita Springs, Estero market was 7,896 units (4,264 condominiums and 3,632 single family homes). This represents a 23% decrease from January 1, 2011.
Nationally, nearly 2.4 million units were available in December 2011, reaching its lowest point since 2005, according to National Association of REALTORS® data.
NAR’s Chief Economist Lawrence Yun says home prices are beginning to stabilize in many markets. Also, NAR’s Housing Affordability Index is at its highest level since the 1970s, which indicates that for the average family housing is very affordable.
The National Association of Home Builders is also predicting an improvement this spring among the new-home sector. NAHB is predicting that home sales will increase 18 percent this year, that’s after facing their lowest on record in 2011.
There is no better time to buy a luxury home right here in Marco Island, Naples, Bonita Springs or Estero, Florida.
To find homes for sale in Marco Island, Naples, Bonita Springs or Estero, click HERE!
Naples Florida Real Estate – Homelook Weekly now available!
Friday, February 3rd, 2012
Click HERE to read our latest issue of Homelook Weekly!
To search for homes for sale in Naples, Bonita Springs and Estero, Florida, click HERE!
Naples, Florida Real Estate – More Wisconsinites head to Southwest Florida
Wednesday, February 1st, 2012
Some interesting facts about the Dairy State…it turns out between 2006 and 2010 nearly 45,000 people left Wisconsin for Florida or Arizona, according to a report issued Tuesday by the Wisconsin Taxpayers Alliance. Higher-income retirees headed to Florida, and Wisconsin lost more of those with higher incomes than it gained.
The report showed that of the 27,826 people who moved to Florida, family income averaged $81,744.
The report zeroed in on 1,300 Wisconsinites with an average family income of $138,713 who moved to the Fort Myers, Fla., area. Another 568 people with an average family income of $274,614 moved to the Naples, Fla., area.
Hey, Wisconsinites! If you’re searching for your new home in Naples, Bonita Springs or Estero, Florida, look no further! John R. Wood Realtors is here to help!
Click HERE to search for homes for sale in Southwest Florida: Naples, Bonita Springs, and Estero!
Source: Milwaukee Journal Sentinel
Naples, Florida Real Estate: Now is the time to take advantage of mortgage rates
Tuesday, January 31st, 2012
Last week, according to an article found on CNNMoney, “rates on both the 30-year and 15-year fixed loans fell to new records, at 3.89 percent and 3.16 percent, respectively, according to Freddie Mac.” The question remains: how long will prospective buyers enjoy such low rates?
Potential buyers sitting on the fence waiting for the rates to go lower may be getting their reason to act: a recent action by Congress may be pushing those rates higher shortly. According to CNNMoney, “to pay for the extension of payroll tax cuts, Congress mandated an increase in fees for Fannie Mae and Freddie Mac loans. That could mean an increase in upfront costs for borrowers of about half a point, starting April 1. The new fee would add $500 for every $100,000 in principal.” Instead of an additional upfront fee, borrowers could pay the fee as a higher interest rate, [adding] an additional one-eighth of a point to their rate. That amount might seem inconsequential, but when added to a $250,000 mortgage, the mortgagee could be paying approximately $225 more per year.
With a market filled with desirable listings, interest rates at historic lows, and a threat of rising rates, prospective buyers would benefit from getting off the fence and jumping into the present day ‘buyers’ market.
So, what are you waiting for? Click HERE to find a John R. Wood Agent today!
Click HERE to search for homes for sale in Naples, Estero, and Bonita Springs, Florida!
Winter 2012 Digital Edition of John R. Wood Realtors’ Estate Lifestyles is here!
Tuesday, January 17th, 2012The 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!
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
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
