Posts Tagged ‘Bonita Springs real estate’

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Naples FL Real Estate and More: What is the Economical Impact of a Home Sale?

Wednesday, May 15th, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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Have you ever wondered what the economical impact of a home sale is on the U.S. economy? Well, wonder no more! The folks at KCM Blog were kind enough to break it down for us with interesting results!

Recently, the National Association of Realtors (NAR) looked at studies done by the Bureau of Economic Analysis, the Census Bureau, Macroeconomic Advisors and the Joint Center for Housing Studies at Harvard.

After reviewing the data, they determined the total economic impact of a typical home sale in the United States is $56,464!

How does this number break down?

Economic Contributions are derived from:

  • Home construction
  • Real estate brokerage
  • Mortgage lending
  • Title insurance
  • Rental and Leasing
  • Home appraisal
  • Moving truck service
  • Other related activities

When a home is sold in the U.S. …

  • $14,958 is income generated from real estate related industries
  • $5,647 for additional expenditures on consumer items such as on furniture, appliances, and paint service
  • $3,509 for expenditures on remodeling within 2 years of purchase

A home sale generates an economic multiplier impact as well. There is a greater spending at restaurants, sports games, and charity events. The size of this “multiplier” effect is estimated to be at$11,575.

Additional home sales also induce additional home production. Typically, one new home is constructed for every 8 existing home sales. Therefore, for each existing home sale, 1/8 of new home value is added to the economy which is estimated in the U.S. to be $20,775.

Add up the numbers and it totals over $56,000! Very interesting!

For more information about homes for sale in the Naples, Bonita Springs and Estero market, contact a John R. Wood Realtor today!

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

source: KCMblog.com

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Posted in Home Prices in Southwest Florida, Naples Florida Real Estate | No Comments »





Naples FL Real Estate and More: Investors Scooping Up Florida Real Estate

Monday, May 13th, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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As reported in the Naples Daily news this past Saturday, investors seem to be scooping up real estate in Florida. Specifically Hedge funds, corporate buyers and large investors are picking up these buys and some are speculating that this could lead to higher prices and home rentals in some areas of Florida.  Some also say that while we may see some double-digit prices, it may be due to hedge funds and foreign investors. RealtyTrac officials are echoing the same opinion.  In the past, properties in Hillsborough, Miami-Dade, Broward and Palm Beach counties were targeted for acquisition by Hedge Funds, but now Tampa and the Southwest Florida markets are as well.  This activity has also contributed to the decline in inventory in Southwest Florida.  However, others speculate that properties in Collier County are not being bought up in such a flurry as in other areas because the typical criteria for purchase is a single-family home under $250,000 in a high-demand area for rentals. Due to a higher price point in the Naples market, this inventory is not so readily available.

To see the full article, click HERE.

For more information and data research in the Naples, Bonita Springs and Estero Market, please visit the John R. Wood Market Statistics Page or contact a John R. Wood Realtor today.

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

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Southwest Florida News: Hertz Makes Estero FL its New HQ

Wednesday, May 8th, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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Just yesterday,  media sources including the News-Press, released big news about Hertz making Lee County the home of its new headquarters.  The deal to bring Hertz to Lee County will cost the state an additional $68 million in tax credits over the next 20 years, but Gov. Rick Scott on Tuesday said it was worth it.

He states:

“This is a big victory for Florida and a big victory for Lee County, and we have to make sure it is a big victory for Hertz.”

The deal, shrouded in secrecy so the name of the company wouldn’t be revealed until Tuesday, was eight months in the making .  Hertz CEO Mark P. Frissora vowed to be a good neighbor and a strong corporate citizen.

“We will validate your sound judgment,” Frissora said. “Florida is a great place to run a business and to raise a family, and we are happy to be here.

The Fortune 500 company will locate its facilities on the Northeast Corner of US 41 and Williams Road in Estero.  Hertz will hire up to 700 people and spend $60 million dollars to build the new 300,000-square foot headquarters.

For Estero, this is a huge economic boost, sure to bring revenue to local businesses and the real estate market in Estero, as well as neighboring communities such as Bonita Springs, Naples and Ft. Myers, FL.

For more information and to view the formal release and video, click HERE!

Are you relocating to Southwest Florida with Hertz? Let John R. Wood Realtors help you find your new home is Paradise! As the oldest residential real estate brokerage in the area, John R. Wood Realtors can help you get to know your new home and help you navigate the real estate market!

Contact a John R. Wood Agent today!

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

 

 

 

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Southwest FL Things To Do This Weekend May 4-5, 2013

Friday, May 3rd, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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The weekend is here and there is much going on in Southwest Florida! Courtesy of Gulfshore Life, here is your top 5 things to do this weekend in Southwest Florida!

  1. Catch the ultimate in blue collar comedy when Larry the Cable Guy and Bill Engvall take the stage at Germain Arena tonight. Expect plenty of Southern-friend humor with a twist of down-home fun. www.germainarena.com
  2. TheatreZone wraps up its season with 110 in the Shade, the musical tale of a con man who comes to town promising a drought-stricken southwestern community that he can make it rain again. Starting tonight and running through May 12. www.theatrezone-florida.com
  3. It’s probably the most recognizable piece of classical music ever, but Beethoven’s Symphony No. 5 is still thrilling for aficionados and casual fans alike. Hear the Naples Philharmonic play it, plus works from Mozart and Mendelssohn, tonight through Saturday at Artis—Naples. www.thephil.org
  4. Grab your board and paddle and head to Bayfront on Saturday to see just how fast you are. The fourth annual Stand Up Paddleboard Luau benefits the Special Olympics and features challenges for serious paddlers, as well as men, women, kids and Special Olympians. Must register to participate. Call 370-6577.
  5. Tap your toes to the music and feast your eyes on the beautiful dance moves of the Emerald Isle as the Celtic Woman come to the Barbara B. Mann Performing Arts Hall for two shows on Sunday. www.bbmannpah.com

And, while you’re out and about, don’t forget to check out our Open Houses for Sunday, May 5th! See the John R. Wood Realtors Open House insert in this Sunday’s edition of the Naples Daily News!

For more information about homes for sale in Naples, Estero, Bonita Springs or Marco Island, contact a John R. Wood Agent today!

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

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Naples FL Real Estate: Experts Say Bank-Owned Homes Back on Market

Wednesday, May 1st, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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The experts say that bank-owned homes are back on the Southwest Florida market. According to an article in the Naples Daily News published on April 29, 2013, banks are not holding on to foreclosed homes as they have in the past.

John Tuccillo, chief economist for Florida Realtors, told those attending the recent Naples Area Board of Realtors’ annual economic summit that banks aren’t holding on to foreclosed, bank-owned homes as some analysts are saying.  Banks began changing their approach late last year and have been selling homes primarily to high-net-worth investors, with the ability to pay cash rather than needing financing, says Jack McCabe, a Deerfield Beach real estate analyst. Local Real Estate agents are also seeing that banks are wanting to be rid of these properties as soon as they can and are not holding on to them.

In March, there were 162 new REOs in Collier County, up nearly 40 percent from the 116 in that month in 2012, RealtyTrac’s records show. In March 2009, there were 386 — the most seen in the county since the foreclosure crisis hit.  Lee County had 196 such real estate properties in March, down about 60 percent from 498 in 2012, according to RealtyTrac’s records. The most REOs seen in Lee since the foreclosure crisis hit were 1,539 in April 2009.

Brenda Fioretti, NABOR’s media relations committee member says that distressed property activity has declined tremendously. She states, “the foreclosure process sometimes can take a while, but once banks are able to sell property they seem to be doing it quickly. We would welcome any bank-owned inventory in our market. The market can absorb the available inventory.”

To read the full article, click HERE.

For more information about the local real estate market in Collier and Lee counties, please visit our market data research page or contact a John R. Wood Agent today!

Naples,Bonita Springs, Marco Island, Estero FL Real Estate

Naples, Bonita Springs, Marco Island, Estero FL Real Estate

 

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Naples FL Real Estate and More: Will There Be Bidding Wars this Spring?

Monday, April 8th, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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Are buyers are finding increased competition through bidding wars due to decreased inventory? This was the focus of a CNNMoney article published just this past Friday.  There have also been reports of bidding wars  where dozens or even hundreds of other buyers are all competing for the same property; not just one or two.

For example, a home in Elk Grove, Calif., reportedly received 62 separate bids, with the final sales price more than $150,000 above its $129,000 asking price. In Cambridge, Mass., real estate brokers stopped accepting bids after the tally reached 250 bids for two condos listed at $800,000 each. The two condos ended up selling together for $2 million.

Additionally, it was reported that Seventy-five percent of real estate agents with the brokerage Redfin surveyed in March say their clients have faced multiple bid situations for properties — up from 56 percent in late 2011. Nationally, the National Association of REALTORS® reported a 19.2 percent drop in inventories year-over-year in February.

Bidding wars appear to be most prevalent in California right now, however with decreased inventory in the Southwest Florida market, will bidding wars also be experienced here? Only time will tell, but some realtors in this market are experiencing multiple bids especially on home price segments under $400K in the Naples, Bonita Springs and Estero market.

For more information, please visit the John R. Wood Market Research Data page or contact a John R. Wood Agent today!

Naples,Bonita Springs, marco Island, Estero FL Real Estate

Naples,Bonita Springs, marco Island, Estero FL Real Estate

 

Source: “The home bidding wars are back!” CNNMoney (April 4, 2013)

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Naples Real Estate and Beyond: Financial Reasons to Buy a Home Now

Wednesday, April 3rd, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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We know prices are rising and mortgage rates are predicted to rise as well. If you’re weighing the pros and cons of buying now, this information may help you!  Here is an overview of some good financial reasons as originally provided by KCMBlog.com

Experts are not only projecting that house values will increase in 2013. They are also more optimistic in the level of appreciation they are projecting as well.

Here are some examples:

The Home Price Expectation Survey:  The latest survey of a nationwide panel of 118 economists, real estate experts and investment and market strategists reveals they project home values to end 2013 up an average of 4.6% according to the first quarter. This is after they had projected a 3.1% increase just three months ago.

Bank of America: In a report titled, Someone Say House Party?, Bank of America analysts revised their projections upward:

“Home prices continue to show momentum amid shrinking inventory and record high affordability, prompting us to revise up our original forecast of 4.7% for home prices this year. We now expect national home prices, as defined by the S&P Case Shiller home price index, to increase 8% this year.”

According to a report in DSNews, Capital Economics also upgraded their prediction:

“Strong demand and tight inventory have brought existing home sales back to ‘normal’ levels, and further gains are possible, according to the latest market report from Capital Economics. Additionally, market conditions may prompt lenders to “loosen the purse strings slightly” and lend a little more freely.

These conditions, combined with broader economic indicators, lead Capital Economics to revise its previous forecast of a 5% price gain this year up to 8%.”

In an article from HousingWire, Morgan Stanley joined the party:

“Strong momentum in home prices as well as housing activity gave Morgan Stanley analysts enough confidence to upgrade their home price appreciation projections to roughly 7% (from 5%) for 2013, according to its latest global securitized credit report…

“The momentum in most metrics of housing activity is running well ahead of the pace we had expected,” said James Egan, Jose Cambronero and Vishwanath Tirupattur, analysts for Morgan Stanley.”

Not only are prices projected to appreciate. Experts are actually revising their projections upward as demand maintains its momentum.

For more information about buying in the Southwest Florida market, contact a John R. Wood Agent today!

Naples,Bonita Springs, marco Island, Estero FL Real Estate

Naples,Bonita Springs, marco Island, Estero FL Real Estate

 

Source: KCMBlog.com

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Naples FL Real Estate: Is Real Estate Back in the Naples-Ft Myers Market?

Monday, March 25th, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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Is real estate back? Maybe this infographic from the March 15 KCMblog posting will help YOU decide!

Under the section titled “Hot and Rebounding Real Estate Markets”, the Naples-Ft Myers market is shown as #4 as 2013′s Best Real Estate Value Appreciation.

RealEstateIsBackNaples FL

For more information about homes for sale in Naples, Bonita Springs, Estero or Ft Myers, contact a John R. Wood agent today!

Naples,Bonita Springs, Estero FL Real Estate

Naples,Bonita Springs, Estero FL Real Estate

 

 

 

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Naples FL Things to Do This Weekend: March 23-24, 2013

Friday, March 22nd, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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TGIF! The weekend is here and we’ve got the top 5 things to do in Southwest Florida this weekend!

  1. Dance combines with the Naples Philharmonic Orchestra for a visual and musical delight in Gotta Dance!  at the Phil. See talented dancers take the stage as the orchestra plays favorites from Stravinsky, Tchaikovsky, Lord of the Dance and more through Saturday. www.thephil.org
  2.  The Fort Myers Film Festival kicks off its third year with a screening of the documentary When I Walk, in which filmmaker Jason DaSilva chronicles his struggles with multiple sclerosis. The film, which premiered at Sundance earlier this year, plays at the Barbara B. Mann Performing Arts Hall tonight at 7 p.m. www.fortmyersfilmfestival.com
  3. Gulfshore Playhouse tackles the slavery, race, redemption and forgiveness in The Whipping Man, a Civil War-era drama about a Jewish Confederate soldier and his two former slaves who celebrate Passover on his former plantation. Now through March 30. www.gulfshoreplayhouse.com
  4. Explore work from a stable of exciting Russian artists in From Russia With Love, an exhibit at Gallery on Fifth’s new location at Mercato in North Naples.  This exhibition, which opens at 6 p.m. Friday, focuses on the work of impressionist Igor Korotash. www.artorg.net
  5. Think you’ve got what it takes to be a champion? Then head to Matlacha on Saturday for the 22nd Annual Southwest Florida Mullet Tossing Championship. Contenders from 1 to 100 will compete to see who can throw the slippery fish the farthest. www.matlachamariners.org

Here’s a bonus event for you taking place this weekend! Head on over to the Mercato in Naples on Sunday, March 24 for the  Humane Society’s Woofstock Event! Peace, love and pups from 11AM to 7PM.  Bring your family and the pups, and join the fun – live music, food, and numerous vendors all day!

For more information about real estate in Naples, Bonita Springs and Estero FL, click HERE!

Naples,Bonita Springs, Estero FL Real Estate

Naples,Bonita Springs, Estero FL Real Estate

 

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Naples FL Real Estate: John R. Wood Realtors February 2013 Neighborhood Snapshot Report is now available!

Thursday, March 21st, 2013

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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The John R. Wood Realtors’ February 2013 Neighborhood Snapshot Report is now available!

Each month, John R. Wood Realtors publishes their Neighborhood Snapshot Report which shows the number of closed sales over the last 12 months, as well as the available inventory in some of Naples’ and Bonita Springs’ most popular neighborhoods.  This report is divided by single-family homes and condominiums, and gives residents insight into how active their neighborhood is, as well as surrounding neighborhoods.

 

John R. Wood Realtors Neighborhood Snapshot Report Feb 2013

 

To find out what is happening in your neighborhood, contact a John R. Wood Agent today.

For more information or to see Market Report archives, click HERE!

Naples,Bonita Springs, Estero FL Real Estate

Naples,Bonita Springs, Estero FL Real Estate

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