Posts Tagged ‘Buying a Naples home’

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Leading Real Estate Companies of the World® Leads REAL Trends Top 500

Thursday, May 23rd, 2013

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

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Did you know that John R. Wood Realtors is a long-standing member of Leading Real Estate Companies of the World®?

Our affiliation with this network means we are part of the network that dominates in more markets across the U.S., with #1 market ranking in 39% of the top markets.

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

 

Top500-2012

 

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

Naples, Bonita Springs, Marco Island, Estero FL luxury 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.

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

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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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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.

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

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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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Naples FL Real Estate and More: Gallup Says American Dream of Owning Home Lives On

Monday, May 6th, 2013

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

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

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Gallup just released its poll, American Dream of Owning Home Lives On.

What was the conclusion of this survey?

“Gallup data on homeownership provide strong support for the idea that the American Dream of owning a home continues to be alive and well. The majority of Americans who own a home plan on continuing to do so in the future, and most of those who don’t own a home plan on buying one.”

And, here is  a superb infographic courtesy of the KCMblog.com that shows the 5 Top Reasons people buy…

Top Reasons People Buy

Are you looking to buy in Southwest Florida? Whether you’re looking to buy a vacation or winter luxury home, your first home or a great investment, a John R. Wood Agent can help! Contact a John R. Wood agent today!

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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: The Gulf Shore Boulevard 1st Quarter 2013 Market Report is Now Available!

Tuesday, April 30th, 2013

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

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

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The Gulf Shore Boulevard 1st Quarter 2013 Market Report is now available!

Overall sales along Gulf Shore Boulevard are down when compared to Q1 2011, and approximately the same as Q1 2012. The number of available properties for sale on the beachfront is down 25%, and bayfront inventory decreased 20% from Q1 2012.

To see the FULL report, click on the image below!

COVER-Gulf-Shore-Blvd-1st-Qtr-2013-Market-Report-1

For more information and market data, please visit our Market Data Research Page!

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

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

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Southwest Florida Things to Do This Weekend April 20-21, 2013

Friday, April 19th, 2013

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

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

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Hey, it’s Friday! It’s time to plan your weekend! Don’t forget to see our Open House ad in this Sunday’s Naples Daily News edition. You can plan some other great activities around open house visits; here is your top 5 things to do this weekend in Southwest Florida courtesy of Gulf Shore Life!

  1. A Southwest Florida tradition ends this weekend as the Everglades Wonder Gardens on Old 41 Road in Bonita Springs closes its doors for the last time on Sunday, after nearly 80 years. Go visit the classic, Old Florida roadside wildlife park before it’s too late. www.evergladeswondergardens.net
  2. Set the alarms extra early on Saturday or Sunday morning, and head out to Immokalee for Balloons Over Paradise. The two-day event kicks off with the balloon glow launch at 6 a.m. Saturday and continues throughout the weekend with food, balloon rides and music. www.seminolecasinoevents.com
  3. The Conservancy of Southwest Florida is finally ready to welcome visitors back to its newly renovated campus with a grand opening weekend, starting at 10 a.m. Saturday. Expect plenty of fun and learning with boat tours and nature-related crafts, plus music, wine tastings, food and more for the whole family. www.conservancy.org
  4. Caustic comedian Lewis Black is at his best skewering political ineptness. No matter what side of the spectrum you fall on, you can’t argue there isn’t plenty of that going around. See the Daily Show regular on stage Saturday evening at the Barbara B. Mann Performing Arts Hall. www.bbmannpah.com 
  5. From noon to 4 p.m. on Sunday, get your food fix at the Mercato International Food Festival. Explore food from a variety of cultures through the cuisine of Mercato’s amazing restaurants. www.mercatoshops.com

To find out more out Open Houses happening in Southwest Florida, contact a John R. Wood Realtors’ 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: Median Home Price Up by 17 Percent

Thursday, April 18th, 2013

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

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According to the latest announcement by the Naples Area Board of Realtors (NABOR) released on April 12, 2013, the median home price in the Naples market is up by 17 percent as compared to March 2012.

The median price increased from $184,000 in March 2012 to $215,000 for the 12-month period ending last month.  Overall, the total number of closed sales dropped in March compared to a year ago. However, overall pending sales increased 4 percent from 10,204 units to 10,633 units for the 12-month period ending in March 2013. Overall pending sales rose in all price categories in March compared to the 12-month period ending in March 2012, except in the under $300,000 category.

The report also stated that the average number of days on the market decreased by 8 percent, from 171 days on the market in March 2012 to 157 days on the market last month. Overall inventory dropped by 14 percent, from 7,599 in March 2012 to 6,565 last month as well.

NABOR also released its first quarter 2013 report…

The quarterly report said the overall median closed price increased 24 percent, from $190,000 in the first quarter of 2012 to $235,000 in the first quarter of 2013. In the $300,000 and under category, the median closed price increased 18 percent, from $135,000 in the first quarter of 2012 to $159,000 in the first quarter of 2013.

Overall closed sales decreased 2 percent, from 2,220 residences in the first quarter of 2012 to 2,167 in the first quarter of 2013. Overall closed sales increased 13 percent in the $300,000 to $500,000 category, from 309 residences to 350, and increased 15 percent in the $1 million to $2 million category, from 99 residences in the first quarter of 2012 to 114 in the first quarter of 2013, according to the report.

The also report said the average number of days on the market decreased 4 percent overall, from 169 days in the first quarter of 2012 to 162 days in the first quarter of 2013.

To read the full release by NABOR, visit www.NaplesArea.com

For additional market reports looking at the Naples, Bonita Springs and Estero areas, please visit the John R. Wood Realtors Market Data Research page.

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: Annual Naples Area Board of Realtors Economic Summit Review

Wednesday, April 17th, 2013

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

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

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The annual Naples Area Board of REALTORS (NABOR) Economic Summit that was held on Tuesday, April 16, 2013 and the experts say that “things are looking up.”

This was the main theme at the summit, which was held at the Waldorf Astoria. The panel of experts included John Tuccillo, chief economist, Florida Realtors; Mark Vitner, managing director and senior economist with Wells Fargo; and Shelton Weeks, department chair of economics and finance, Florida Gulf Coast University.

Overall, Florida is faring better than most of the nation as a whole in its recovery.  Within home prices and sales, it was noted that the percentage of the original listing price is increasing. Florida is also doing very well now in employment numbers, which accounts for the real estate trend upward over the past four years and housing starts. Likewise, the distressed market has stabilized.

Shadow inventory was also addressed, specifically the stashes of homes that are supposedly being held by banks. John Tuccillo does not agree that this is the case.  ”Don’t believe that,” he told the crowd, emphasizing his belief that financial institutions would not be keen to reverse gains on their own commodities.

However, he did raise concerns about the number of cash sales in the marketplace, indicating more investor activity as opposed to homeowner activity. But unlike the previous flock of investors, these investors actually putting money into improving the properties in order to earn that profit unlike the investors prior to the housing crash.

For Realtors who are feeling the frustration of a seemingly hot market, but with little to sell, Tuccillo feels confident that inventory will increase in the next two years as sellers feel more flexible and confident in terms of putting their homes on the market.

In regard to Naples employment specifically, it moves because it is a highly seasonal market, sometimes showing a job loss over a few months’ time, but growing slightly overall. It was also stated that interest rates will be higher at the end of the year than they are today.

Click HERE to read the full article.

For more information about the real estate market in Naples, Bonita Springs and Estero, please visit our market research page.

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

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

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Naples Real Esate: Canadians Are The Biggest Foreign Purchasers of Florida Real Estate

Monday, April 15th, 2013

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

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

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An article published in the Toronto Star just yesterday by Business Reporter, Susan Pigg, stated that Canadians are now the biggest foreign purchasers of Florida real estate. This news comes from a report just released by a BMO Financial, one of Canada’s largest financial institutions, which was the focus of the article.

More than 500,000 Canadians now own property in Florida, making them the biggest foreign purchasers of Florida real estate.  Canadian purchasers helped drive a 12 percent increase in Florida real estate over the last two years, according to the report.

Florida Home Finders of Canada has dubbed buyers “endvestors” –buyers scooping up real estate while it’s cheap and interest rates low and renting properties out until they can eventually retire to Florida for winter or vacation there more often.

Jack Ablin, Chief Investment Officer, BMO Private Bank has this to say:

“Beyond the obvious attraction of great weather and beautiful beaches, there are two factors that are making Florida real estate an especially good value for Canadians. The first is that Florida properties are a bargain compared to real estate in Canada. The median priced home in Florida is nearly half than that in Canada. At the same time, the Canadian dollar is trading nearly 10 per cent above ‘fair’ value versus the U.S. dollar, arming Snowbird shoppers with extra buying power.”

Nine percent of Canadians have opted to buy in the gulf coast areas of Cape Coral-Fort Myers, Tampa-St. Petersburg and Naples-Marco Island.

Canadians accounted for almost 40 percent of all real estate purchases in Florida in 2010, BMO notes, adding that a report from 2012 found 16 per cent of Canadians were considering making a purchase south of the border, some 29 percent of them as an investment and 56 percent simply to have a fun family gathering place.

Click HERE to see the full article.

John R. Wood Agents have the market knowledge and international buying expertise to assist you with your home purchase in Southwest Florida.  As the oldest real estate firm in the area, John R. Wood Realtors assists Canadian buyers and buyers from all over the world in finding their home in paradise.  To find a John R. Wood Agent who can help you find the perfect Southwest Florida home, click HERE.

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

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

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