Saturday, April 28, 2012

Cape Coral and Fort Myers Florida Hurricane History





Florida Hurricane History: 1960 HURRICANE DONNA

1960 Hurricane Donna In Florida
One of the all-time great hurricanes, Donna was first detected as a tropical wave moving off the African coast on August 29. It became a tropical storm over the tropical Atlantic the next day and a hurricane on September 1. Donna followed a general west-northwestward track for the following five days, passing over the northern Leeward Islands on the 4th and 5th as a Category 4 hurricane and then to the north of Puerto Rico later on the 5th. Donna turned westward on September 7 and passed through the southeastern Bahamas. A northwestward turn on the 9th brought the hurricane to the middle Florida Keys the next day at Category 4 intensity. Donna then curved northeastward, crossing the Florida Peninsula on September 11, followed by eastern North Carolina (Category 3) on the 12th, and the New England states (Category 3 on Long Island and Categories 1 to 2 elsewhere) on the 12th and 13th. The storm became extratropical over eastern Canada on the 13th.

In Florida hurricane history, Donna is the only hurricane of record to produce hurricane-force winds in Florida, the Mid-Atlantic states, and New England. It is not just a part of Florida hurricane history, but is remembered by people all along the Atlantic seaboard.
Sombrero Key, Florida reported 128 mph sustained winds with gusts to 150 mph. In the Mid-Atlantic states, Elizabeth City, North Carolina reported 83 mph sustained winds, while Manteo, North Carolina reported a 120 mph gust. In New England, Block Island, Rhode Island reported 95 mph sustained winds with gusts to 130 mph.

Donna caused storm surges of up to 13 ft in the Florida Keys and 11 ft surges along the southwest coast of Florida. Four to eight ft surges were reported along portions of the North Carolina coast, with 5 to 10 ft surges along portions of the New England coast. Heavy rainfalls of 10 to 15 inches occurred in Puerto Rico, 6 to 12 inches in Florida, and 4 to 8 inches elsewhere along the path of the hurricane.

The landfall pressure of 27.46 inches makes Donna the fifth strongest hurricane of record to hit the United States.
It was responsible for 50 deaths in the United States. One hundred and fourteen deaths were reported from the Leeward Islands to the Bahamas, including 107 in Puerto Rico caused by flooding from the heavy rains. The hurricane caused $387 million in damage in the United States and $13 million elsewhere along its path.
Many Floridians of that era include Donna in their own horrifying Florida hurricane history.




Florida Hurricane History: 2004 HURRICANE CHARLEY

2004 Hurricane Charley In Florida 2004 was an unbelievable year for us Floridians. Four hurricanes in the span of a few weeks was a first in Florida hurricane history.
 The hurricanes kept delaying the closings because you can't get wind insurance when hurricane warnings are in place.
 
Charley originated from a tropical wave, developing into a tropical depression on August 9 about 115 miles south-southeast of Barbados. The depression strengthened within a low-shear environment to a tropical storm early the next day in the eastern Caribbean, and became a hurricane on the 11th near Jamaica. Charley's center passed about 40 miles southwest of the southwest coast of Jamaica, and then passed about 15 miles northeast of Grand Cayman as the hurricane reached category 2 strength on the 12th. Charley turned to the north-northwest and continued to strengthen, making landfall in western Cuba as a category 3 hurricane with 120 m.p.h. maximum winds. Charley weakened just after its passage over western Cuba; its maximum winds decreased to about 110 m.p.h. by the time the center reached the Dry Tortugas around 8 am on the 13th.

Charley then came under the influence of an unseasonably strong mid-tropospheric trough that had dropped from the east-central United States into the eastern Gulf of Mexico. The hurricane turned north-northeastward and accelerated toward the southwest coast of Florida as it began to intensify rapidly; dropsonde measurements indicate that Charley's central pressure fell from 964 mb to 941 mb in 4.5 hours. By 10 am, the maximum winds had increased to near 125 m.p.h., and three hours later had increased to 145 m.p.h. - category 4 strength. Charley made landfall with maximum winds near 150 m.p.h. on the southwest coast of Florida just north of Captiva Island around 3:45 pm. An hour later, Charley's eye passed over Punta Gorda.
The hurricane then crossed central Florida, passing near Kissimmee and Orlando. Charley was still of hurricane intensity around midnight when its center cleared the northeast coast of Florida near Daytona Beach. After moving into the Atlantic, Charley came ashore again near Cape Romain, South Carolina near midday on the 14th as a category 1 hurricane. The center then moved just offshore before making a final landfall at North Myrtle Beach.
Charley soon weakened to a tropical storm over southeastern North Carolina and became extratropical on the 15th as it moved back over water near Virginia Beach.

Although ferocious, Charley was a very small hurricane at its Florida landfall, with its maximum winds and storm surge located only about 6-7 miles from the center. This helped minimize the extent and amplitude of the storm surge, which likely did not exceed 7 feet. However, the hurricane's violent winds devastated Punta Gorda and neighboring Port Charlotte. Rainfall amounts were generally modest, less than 8 inches. Charley also produced 16 tornadoes in Florida, North Carolina and Virginia. The total U. S. damage is estimated to be near $15 billion, making Charley the second costliest hurricane in U.S. history.
Casualties were remarkably low, given the strength of the hurricane and the destruction that resulted. Charley was directly responsible for ten deaths in the United States. There were also four deaths in Cuba and one in Jamaica.
 Copyright 2009-2012 Florida-Backroads-Travel




www.OnlyFloridaHomes.com


Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com

Thursday, April 26, 2012

7 Springtime Cape Coral and Fort Myers FL Home Spruces to Boost Buyer Interest

7 Springtime Home Spruces to Boost Buyer Interest

One of the first things many homebuyers look for are the unmistakable signs of something called ‘pride of ownership.’ As a whole, it’s a relatively intangible concept: there are just homes that have it - reeking of their owners’ love and meticulous care for the property -- and homes that, well, don’t.

I’ve watched firsthand as buyers who like a cute home that is in generally good shape literally talk themselves into looking at a more homes once they start to notice one rickety gate, which snowballed into a nitpicky laundry list of little, tiny fixes the seller had left undone. The challenge is that between deciding whether and when to sell, staging, interviewing agents and determining a list price, it can be tempting for homeowners to fall into the trap of deferring maintenance on a home they might sell soon.

Whether you plan to put your home on the market next week or next year, here is a short list of  home maintenance items you should put on your Spring to-do list, stat, if you want to attract qualified buyers and let your home sweet-talk them into making a sweet offer:

1. Banish chips, scuffs and the like with a fresh coat of paint. I believe that eliminating nicks, scuffs and scratches on any painted or finished surface is one of the cheapest, easiest and most impactful spruces a seller-to-be can do.  That’s because these little tiny blemishes create a shabby appearance on a home that might otherwise be in great shape, but can be entirely banished with a good washing and some fresh paint.

This goes for interior and exterior walls, floors, and especially any sort of trims that are painted white, as is common with crown and floor moldings - scuff marks and blemishes seem to pop out from these items. Also, the edges of cupboards, doors and drawers are places where chips and nicks are so common that homeowners overlook them, but can be super visible to buyers who visit your home for the first time.

2. Brighten, polish and replace all trims.  One day, I’ll do a scientific study, and I predict the results will reveal that if you put two identical homes side-by-side and give one a set of tricked-out trims - exterior shutters, front door, eaves - even your house numbers, door knockers, kickplates and other exterior hardware - people will rate the house with the beautiful trims way higher on the ‘pride of ownership’ scale than you’d expect.

Go stand on your own curb to get the buyer’s-eye view of your home, and then drive around your own neighborhood or the nicest part of town and flip through some home improvement mags or websites for ideas.  If you can add attractive trims, freshen up the ones you have or paint them to create an unexpected but attractive color combination with the body of your house, you can skyrocket your home’s standing on my (newly invented) ‘pride of ownership’ scale.

3. Furry, drippy, noisy or broken HVAC systems. Maintaining your heating and air conditioning systems is not that expensive, but buyers think it is. In fact, your furnace  and AC are precisely the sort of major household machinery that intimidate first-time home buyers.  So, if they show up to the open house or a private showing of your home in June and the AC is making a funny knocking sound or just flat out doesn’t work well enough to keep the house cool, buyers might perceive that as a more serious red flag than it truly is.

Does your AC has that furry ‘science experiment’ look to it? Not only are you paying for the energy it’s probably wasting to push the air pass all that dust and dirt, the gross-out factor will have even the hardiest buyer wondering what else might be wrong with your home.

On the flip side, letting prospective buyers know that your home’s HVAC systems have been recently maintained or upgraded is a nice touch that makes itself obvious during showings and allows buyers to breathe a sigh of relief when it comes to concerns about short-term repair bills and the comfort level of family members who may have allergies and asthma.

Side note: if your AC does make a funny sound you might be so accustomed to you can’t hear it anymore - check in with your agent unless you know as a matter of fact that your AC is in tip-top shape. One more side note: if you live someplace where it gets cold around the holidays and you don’t plan to list your home until wintertime, right now may be the ideal time to have your heating system serviced. Off-season repairs and maintenance are often discounted.

4. Mend and tend to your fences, gates and screens. These items may not jump out at us in our own home - in fact, these are things I often see sellers skimp on or run out of time and money to tend to. And it’s easy to rationalize your way out of dealing with them, as they seem like relatively inexpensive fixes for buyers to make themselves.  But screens with holes in them and gates that don’t budge or hang off their hinges are precisely the sorts of things I’ve seen make buyers walk back through a home looking for other flaws; and anything to do with fences makes them envision neighbor disputes over bills.  You have the power to avoid sparking these concerns in the minds of house hunters by mending these items this Spring.

5. Doors, cupboards and drawers. One creaky door or squeaky cupboard does not kill a deal. But keep in mind that in some homes, other than the lights, these are the only functioning systems of your home that house hunting visitors will almost certainly use during the course of a viewing. Making sure your entry, interior closet and cupboard doors are in good cosmetic shape and that they work well and don’t stick is an easy, inexpensive way to position your home as a (literally) well-oiled machine.

One point of clarification – it’s less the case that buyers will notice, ooh and ahh over your smoothly sliding drawers than that they will notice and grow concerned if they don’t.

6. Have everything cleaned and washed. Even the most immaculate of housekeepers can realize a massive refresh to the look, feel, smell and the overall air quality of their homes by having professional cleaners come take a tour through the place. Springtime is a great time to ask your agent for referrals to the best local vendors to power wash your house, windows and driveway, as well as to have your carpets, rugs and window coverings cleaned. For those who are on a tight budget, many vendors offer Spring cleaning promotions for these services right about now (and if your budget is even tighter, there are products you can buy and machines you can rent to do these things yourself – just make sure you account for the value of your time).

7. Shred it up.  Some might say this is more like Spring cleaning than home maintenance, but I’ve noticed that the clutter of boxes and boxes of paperwork, old file cabinets and the like have a tendency to contribute to the sense that a listed property might be unkempt, the aura of  stagnation. If you have no cash to do anything else on this list, one thing you can do for free is to go through all your files and boxes, get rid of old papers and shred anything with sensitive information.

Just think – you’ll have to do it anyway when you move, so this is like giving yourself a head start and your attic, basement office or other rooms a fresh start. You can count it as a staging tactic as well, as it gives the rooms at issue some added visual white space, making them seem larger!

Buyers: What items that fall under simple home maintenance catch your eye when sellers have – or haven’t – addressed them?

Sellers: What else is on your spring home to-do list?


www.OnlyFloridaHomes.com


Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com

Citizens ponders but ultimately declines to raise rates significantly for new buyers

Citizens ponders but ultimately declines to raise rates significantly for new buyers
TAMPA, Fla. – April 26, 2012 – Citizens Property Insurance Corp. considered a premium increase for new homeowners at a meeting in Tampa today, but ended up making no decision in order to give analysts time to consider the legality, to look at broader options involved in rate calculations, and to consider the ramifications of doing so.

Citizens, the state-run insurer of last resort, has actuarially unsound rates, according to most analysts. The fund largely covers Florida homeowners in high-risk storm areas, but critics say it doesn’t charge enough to create reserves that would cover damage if a significant storm hit the state.

Critics of Citizens, which include Gov. Rick Scott, say Citizens’ low premiums cause two problems: They put all Florida policyholders at risk in the event of a major storm; and they undercut private insurance companies, which makes the Florida insurance market less competitive.

In 2009, the Florida Legislature passed a law limiting Citizens premium increases to a maximum of 10 percent per year, and it became effective in 2010. Since then, Citizens Property Insurance’s governing board has attempted to build reserves and charge more while still adhering to the letter of the law. The company has, for example, removed some homeowners from coverage and cancelled insurance for properties under construction.

Another idea for lowering risk and raising revenue came to light within the past few days – charge new homeowners more than neighbors with an existing Citizens policy. Proponents of the change said the 10 percent maximum increase established in law applies only to existing policyholders. Opponents disagreed.

At the Citizens board meeting today, Sen. Mike Fasano, R-New Port Richey, testified that raising rates on homebuyers would seriously undermine the market. “You can get all the rhetoric that you want, but the private companies are not coming back to some areas of this state – they’re just not,” he said. “Study or no study, if this is pushed or approved you will hurt our economy.”

The board settled on three major issues for further review. First, insurers break the state into “territories,” and owners in each territory pay a rate based on similar calculations. The board wants to look at how proposals affect not just the state, but also the individual territories.

Two, the board wants to consider a clear rate schedule that applies to new and existing coverage. Three, the board wants to get lawmakers and the Florida Office of Insurance Regulation involved in decisions, in part because lawmakers have statutory authority over Citizens and its rates.

Based on the areas of concern, Citizens board members decided the issue needed more study and may revisit it later.

Florida Realtors continues to monitor developments.

© 2012 Florida Realtors®

www.OnlyFloridaHomes.com


Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com

Housing market shows pockets of improvement

Housing market shows pockets of improvement
 – April 25, 2012 – Home prices continue to fall but there are small signs of improvement.

Nationwide, prices fell 0.8 percent in February, the sixth-consecutive month of price declines, according to the Standard & Poor’s/Case Shiller index released Tuesday. When adjusted for seasonal factors, prices rose 0.2 percent.

The latest Federal Housing Finance Agency index shows home prices rising 0.4 percent for the 12 months ended in February, the first 12-month increase since July 2007.

“Home prices are slowly bottoming out,” says Steven Ricchiuto, chief economist of Mizuho Securities.

The Case-Shiller index shows February’s prices were 35 percent below their 2006 peak.

March numbers appear to be stronger, says Stan Humphries, chief economist of Zillow. A report it’s releasing today shows home prices rising 0.5 percent from February to March, the largest monthly increase in almost six years.

Nineteen of the 30 markets covered by the Zillow forecast will bottom in 2012, or already have, Zillow forecasts. Nationally, home prices will fall 0.4 percent in the next 12 months and may bottom in late 2012, Zillow adds.

Markets will hit bottom at different times, economists say.

The FHFA index, which includes fewer distressed homes than the Case-Shiller data, shows prices are holding up better in markets with fewer distressed homes, says Patrick Newport, IHS Global Insight economist.

Prices are picking up in some markets especially hard hit by the foreclosure crisis.

They have risen for five months in Phoenix, including a 1.2 percent gain in February, Case-Shiller data show. Miami posted a 0.6 percent monthly increase.

Zillow forecasts Phoenix will see a 6.5 percent gain in the next 12 months, the nation’s best home price appreciation rate.

Strong demand from investors and increasing demand from regular buyers – coupled with a low supply – is driving prices in Phoenix, says Michael Orr, real estate expert at Arizona State University.

Miami will follow Phoenix, with a 5.6 percent gain in the next year, Zillow says.

Phoenix and Miami both suffered huge price declines but are attractive to second-home buyers and investors, Humphries says.

Atlanta, whose market lacks those strengths and has been hurt by high foreclosures, posted a 17 percent drop in prices in February from a year ago.

That was far worse than the 3.5 percent decline in Case-Shiller’s index of 20 leading cities.

© Copyright 2012 USA TODAY, a division of Gannett Co. Inc., Julie Schmit


www.OnlyFloridaHomes.com


Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com

Tuesday, April 24, 2012

FHA delays loan rule on borrower credit disputes

FHA delays loan rule on borrower credit disputes
WASHINGTON – April 24, 2012 – After being told that a new rule could shut too many borrowers out of the market, the Federal Housing Administration (FHA) said it would postpone implementation. The now-delayed rule raised the bar on qualifying for an FHA mortgage if borrowers had a credit dispute in their file.

The rule took effect April 1, and FHA announced a few days later that it would ease the restrictions a bit. But after the first week, FHA announced that it would postpone the rule altogether until July 1.

Any mortgages written while the rule was in effect during that first week in April will not see the new rule applied.

The new guidelines required borrowers qualifying for an FHA-insured mortgage to pay off any credit dispute of more than $1,000 in their history or set up a documented payment plan on any unpaid collection accounts.

The FHA received several complaints from lenders that said the new rule would shut out too many buyers. For example, JPMorgan Chase analysts had estimated the rule could curtail demand by up to 20 percent for FHA loans.

The new rule is expected to have the greatest impact on young, first-time borrowers, according to Jeremy Radack, a real estate attorney who assists Texas builders in a Builder Magazine interview. When the FHA rule temporarily took effect in the first week of April, Radack says they saw a decrease in sales up to 35 percent.

The delay in the new rule taking effect, according to FHA, will give lenders more time to adjust to the new requirements as well as the opportunity to solicit “additional input on this section and work to clarify guidance, as appropriate.”

Source: “FHA Postpones Rule Change for Borrowers in Debt Disputes,” Inman News (April 20, 2012) and “FHA Delays New Rule on Debt Accounts,” San Francisco Chronicle (April 12, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Monday, April 23, 2012

Florida unemployment drop best in 20 years

Fla. unemployment drop best in 20 years
TALLAHASSEE, Fla. – April 23, 2012 – Job statistics released Friday by the Florida Department of Economic Opportunity show Florida’s unemployment rate for March 2012 declined from 9.4 to 9.0 – the largest monthly unemployment rate drop in 20 years. The last time jobs picked up that quickly was in 1992.

Florida added 10,800 jobs in March.

“The largest monthly unemployment rate decline in 20 years is a milestone all Floridians can celebrate,” Gov. Rick Scott said in a release. “Florida’s unemployment rate is declining at a much faster rate than the national unemployment rate. Clearly, we’re doing the right things to get our economy growing in Florida.”

Only two other states, Alabama and Michigan, have had a stronger improvement in their unemployment rate.

“Even if you look at payroll growth … throughout the year, (Florida) has been stronger than average. I believe the state will continue to recover at a faster pace,” PNC Financial Services Group Economist Mekael Teshome told the Tampa Tribune. He credits the rebound, in part, to an upswing of new residents moving to Florida from other states and countries, which is boosting demand for services and supplies.

© 2012 Florida Realtors®

www.OnlyFloridaHomes.com


 Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com 

Sunday, April 22, 2012

Sandoval Cape Coral FL - Phase III Update

Sandoval Cape Coral Fl - Phase III- Sandoval a luxury tropical community located in Cape Coral Florida is expanding to Phase III. Notice of public hearing issued from the City of Cape Coral were mailed to property owners within 500 FT of subject phase.

The home owners of Sandoval were notified that the city of Cape Coral proposes to adopt an ordinance approving a planned development project entitled "SANDOVAL PDP AMENDMENT FOR PHASE III" on property located between Pine Island Road and Veterans Parkway West, West of Surfside Boulevard and East of Cape Royal (formally known as Royal Tee). A public hearing will be held before the Cape Coral Planning Zoning Commission on May 2, 2012 at 9:00 am.
The public hearing will be held at City Hall council Chamber, Cultural Park Boulevard, Cape Coral, Florida, 33990.

Phase III builder Taylor Morrison will build several models to continue the consistent Caribbean theme of the community. These are the anticipated home plans that are scheduled to be available for Sandoval's Phase III development. Call me at (239) 945-7655 x100 or contact me for floor plans and preliminary pricing info.

Twin Villa Series Ibis - 2 Beds, Den, 2 Baths 2 Car Garage 1533 sq ft.
Corte' Villa Collection - Detached Villas Roma - 1686 SF, 2 Beds, 2 Baths, Den, 2 Car Garage Arezzo - 1926 SF, 2 Beds, 2Baths, Den, 2 Car Garage
Novelli Collection 50' Home Sites Piceno - 1856 SF, 2 Beds, 2 Baths, Den, 2 Car Garage
Farnese - 2100 SF, 2 Beds, 2.5 Baths, Den, 2 Car
Garage Lazio - 2275 SF, 3 Beds, 3 Baths, Den, 2 Car Garage
Trevi - 2823 SF, 3 Beds, 3.5 Baths, Den, 2 Car
Garage Carina - 3159 SF, 3 Beds, 3.5 Baths, Den, 2 Car Garage
La Palma Collection - 60' Home Sites
 Cararra - 2253 SF, 2 Beds, 2.5 Baths, Den, 2 Car Garage
Castello - 2607 SF, 3 Beds, 2.5 Baths, Den, 2 Car Garage
Venetian - 2743 SF, 3 Beds, 3.5 Baths, Den, 2 Car Garage

 I will update this page as more news becomes available. Feel free to call me at (239) 945-7655 x100 with any questions today or subscribe to my weekly newsletter to obtain the latest info on Sandoval, Cape Coral Fl's most highly sought after community.

 Look at all Sandoval listing and amenities at:  www.OnlyFloridaHomes.com


 Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.

aaron@bluewaterrealtyofswfl.com

Saturday, April 21, 2012

What Sells?

The typical home purchased was 1,780 sq ft, was built in 1990, and had three bedrooms and two bathrooms, according to NAR’s 2010 survey of buyers and sellers.


How to Use Comparable Sales to Price Your Home

 Before you put your home up for sale, use the right comparable sales to find the perfect price.



How much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold their house in recent memory and their home was just like your home.
Knowing how much homes similar to yours, called comparable sales (or in real estate lingo, comps), sold for gives you the best idea of the current estimated value of your home. The trick is finding sales that closely match yours.


What makes a good comparable sale?

Your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are other factors that count:

Location
Aaron Eyerman: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.

Home type
Aaron Eyerman: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.

Amenities and upgrades
Aaron Eyerman: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners association fees?

Date of sale
Aaron Eyerman: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.

Sales sweeteners
Aaron Eyerman: Did the comparable-sale sellers give the buyers downpayment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.

Agents can help adjust price based on insider insights

Even if you live in a subdivision, your home will always be different from your neighbors’. Evaluating those differences—like the fact that your home has one more bedroom than the comparables or a basement office—is one of the ways real estate agents add value.

An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. He has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.

More ways to pick a home listing price

If you’re still having trouble picking out a listing price for your home, look at the current competition. Ask your real estate agent to be honest about your home and the other homes on the market (and then listen to her without taking the criticism personally).

Next, put your comparable sales into two piles: more expensive and less expensive. What makes your home more valuable than the cheaper comparable sales and less valuable than the pricier comparable sales?

Are foreclosures and short sales comparables?

Aaron Eyerman:If one or more of your comparable sales was a foreclosed home or a short sale (a home that sold for less money than the owners owed on the mortgage), ask your real estate agent how to treat those comps.
A foreclosed home is usually in poor condition because owners who can’t pay their mortgage can’t afford to pay for upkeep. Your home is in great shape, so the foreclosure should be priced lower than your home.

Short sales are typically in better condition, although they are still distressed sales. The owners usually have to sell because they’re divorcing, or their employer is moving them to Kansas.
How much short sales are discounted from their market value varies among local markets. The average short-sale home in Cape Coral in recent years was discounted by 28.5%, according to a University study. In Cape Coral, FL, sellers typically discount short-sale homes by 10% to 15% to get them quickly sold, real estate agents report. In other markets, sellers price short sales the same as other homes in the neighborhood.

So you have to rely on your REALTOR’s® knowledge of the local market to use a short sale as a comparable sale.

Diamond Award Winner Aaron Eyerman, Broker of Blue Water Realty inc of SW FL is considered a master listing agent, His marketing and international events have built a strong network. Eyerman has recently help a large group based out of Toronto, Canada secure a very unique property, Eyerman will be visiting Toronto Canada in the near future to host a local investment strategy seminar.


The Resort at Marina Village discount

Southwest Florida’s Newest Luxury Resort Now open! See 50% off below

A luxurious full-service condominium resort located at Tarpon Point Marina in Cape Coral with 19 stories of sweeping views of the Caloosahatchee River, San Carlos Bay and the Gulf of Mexico. Richly-appointed furnishings and accommodations, concierge and spa services, an upscale restaurant and bar, fitness center, sundecks, outdoor pools and spas. Enjoy a variety of the finest shops at MarinaVillage with waterfront restaurants, cafés and a clean deep-water marina with 175 boat slips.
The MarinaVillage experience begins when you check in at our signature octagonal reception center showcasing a stunning water feature. This unique glass pavilion will serve as a sparkling beacon for all those arriving at MarinaVillage by land, sea and air. Nearby pavilions along the esplanade offer casual waterfront restaurants and cafes, boutiques, specialty shops and a ship store.
The Resort at MarinaVillage offers you all the amenities of Tarpon Point Marina including four star waterfront views – plus hotel-style luxuries such as room service, housekeeping and professional concierge services. Studio, 1-, 2- and 3-bedroom suites range from 445 square feet to 2,195 square feet, with grand rooms, master suites, guest suites, dining terraces and access to all of the amenities at The Resort at MarinaVillage.


We have a Corporate Preferred Rate with The Resort at Marina Village in Cape Coral Florida for a discount of 50% off

You can take advantage of our rate by letting the front desk know you are booking your stay and you have a discount offered through Blue Water Realty Inc. watch your price drop 50%

  • Our discount will offer you a Deluxe Studio with no black out dates for $99 a night! Stay as many nights as you would like.
  • You may also offer this savings to your friend and family
  • Large parties can take advantage of a 1 bedroom suite with a full kitchen for only $159 a night
  • Whats in it for us? To offer our faithful readers and clients an affordable stay in a truly awesome resort, of course if you are considering a real estate purchase we would love to help but is not required!
You may book by calling and providing the attendant the above information.

http://www.marinavillageresort.com/

Complements of  Aaron Eyerman, Broker - Blue Water Realty Inc of SW FL
www.OnlyFloridaHomes.com





Friday, April 20, 2012

Tarpon Landings Cape Coral Florida Luxury Condo

I just closed on yet another awesome unit in the luxurious and exclusive Tarpon Landings in Cape Coral Florida Today. These units were selling for over 600k and today we closed one at 380k. The owner plans on coming down from Toronto Canada to visit her home several months of the year.


Tarpon Point Marina is a stunning luxury waterfront resort-style community in Cape Coral, Southwest Florida. Whether your looking for a luxurious condo, prestigious penthouse, or a gracious single-family estate home, you’ll discover the lifestyle that’s just right for you. 

Tarpon Landings is a gated enclave encompassing three high-rise waterfront condominiums overlooking the deepwater marina, a seaside nature preserve, the Caloosahatchee River, Sanibel and beyond. Located within Tarpon Point Marina, these 14-story buildings include 12 floors of homes over two levels of enclosed garages. Choose your luxurious home from a variety of spacious floor plans, go to our website to view all available inventory and visual tours of each unit. I know Tarpon Landing Cape Coral Florida and have the answers your looking for.


www.OnlyFloridaHomes.com


Luxury waterfront expert Broker Aaron Eyerman of Blue Water Realty of SW FL
aaron@bluewaterrealtyofswfl.com

How To Do A Shortsale


If you’re staring foreclosure in the face or looking to buy one of the “distressed” homes glutting the market since the 2008 recession, you might be considering a short sale. Don’t be scared off by tales of frustration and failure: Experts say deals are out there, waiting to be done. Aaron Eyerman, Broker with Blue Water Realty in the Cape Coral, Florida, estimates that 70 percent of his business is in short sales. He also teaches classes on the subject for office associates  and public events. eHow spoke with Eyerman about the ins and outs of a short sale.
 eHow: What is a short sale?
Aaron Eyerman: A short sale is the process of selling a home for less than the bank is owed.
The national statistic for short-sale success ranges from 30 to 50 percent. That’s because most people don’t know what they’re doing. A good agent who knows what she’s doing can close 90 percent of short sales.

eHow: Why would a bank accept less than the amount of the loan?

Eyerman: In most cases, their only other alternative is a foreclosure, which is an extremely costly event. The average short sale nets a bank 24 percent more than they would have gotten in a foreclosure.

eHow: How much of a discount does the buyer usually get?

Eyerman: I’d say that you should be able to get a short sale between 10 and 20 percent off of market value.
But the buyer needs to know what the actual market value of that house is and be prepared to pay close to that amount. All of our listings end up selling for more than we have them listed for.

eHow: How should the seller start the process?

Eyerman: The seller needs to be working with an agent who sends them to also speak with a bankruptcy attorney and a CPA and sometimes a real estate attorney. If the real estate agent does not have those resources, they are not an agent you should be working with.
You have to get the right team in place when you’re doing a short sale. You really need that team.

eHow: What else is required of the seller early on?

Eyerman: You need to find out whether your state is a deficiency state. In a deficiency state, the bank has a right to pursue the seller for the difference between what the seller owed and what the bank recouped from either the short sale or the foreclosure. Florida [where Eyerman works] is a deficiency state.
If you’re in a deficiency state, the main focus of the agency you’re working with needs to be negotiating a waiver of that deficiency.

eHow: What should the buyer do at the start of the process?

Eyerman: The buyer needs to understand the short sale process and the foreclosure process. This is a transaction that is counter intuitive from beginning to end, and they need an agent to explain why things don’t make sense.
A good example is a house listed at 60 percent of fair market value. That buyer does the “woo-hoo” dance and puts in an offer at full list price. Two months later the bank counters those terms to full market value and the buyer is asked to bring more money to the transaction. That isn’t good news.
A skilled agent would have counseled [the buyer] to base their expectations on the market value rather than the list price, knowing that sometimes the listing agent is deliberately pricing below market value for a fast offer in order to get an extension of a public sale date, the date at which the seller will lose his house to foreclosure.

eHow: Isn’t the purpose of a short sale to avoid foreclosure?

Eyerman: Just because you’re engaging in a short sale doesn’t mean the bank will stop the foreclosure process. Often the two are happening hand in hand; if one fails, they’ve got the other option. In most cases, you can get the bank to extend that public sale date to extend the foreclosure.
It’s in the bank’s interest — they’re going to make more money that way [with a short sale] — but they want the backup plan.

eHow: Do the seller and the buyer have different goals?

Eyerman: A buyer needs to understand that the seller’s motivation often is preventing a foreclosure, while the buyer’s motivation is getting a good deal. So the two often don’t behave the same way; they aren’t coming from the same place. The art of negotiating is understanding the other side’s point of view.
All paths can still lead to foreclosure, and both sides need to be prepared for that.

eHow: How does the seller convince the bank to approve a short sale?

Eyerman: A short sale is always predicated on a hardship, so the seller and the agent will have to put together a package of documents to make that argument. It will include all the documents the seller would provide if they were applying for a loan: tax returns, bank statements, pay stubs, etc.
That package will also include a hardship letter and the contract with the buyer. The seller and agent will send the whole thing off to the bank for their review.
The seller wants the negotiator at the loan servicer (the company you write your check to every month), the investor who owns the note, which probably is different from the loan servicer, and the mortgage insurance company (if he has mortgage insurance) to look at the package and say, “Yes, I agree, this person can no longer pay this mortgage.”
Before the underwriter signs off on it, the bank will order either an appraisal or a broker price opinion on the house. The broker price opinion is the linchpin of this transaction, because it is that broker price opinion on which the bank will determine the final price they will agree to.

eHow: How do the seller and the buyer get together?

Eyerman: The seller lists the house, usually in the bottom third of the market value, and secures an offer from a buyer.
Once the seller is chugging away on the short sale process, there’s the inspection. That’s also counterintuitive to the buyer.

eHow: There’s an inspection even when short sales usually are sold “as is”?

Eyerman: It’s in the buyer’s best interest to do an inspection very early in the process, even before the short sale has been approved. A buyer is buying the property in “as is” condition; they’re not going to get the seller to perform any repairs and they’re not going to get the bank to perform any repairs.
[But with the inspection] we can show them bids for legitimate habitability issues, like the house needs a new roof or sewer line. Doing an inspection early is the buyer’s only opportunity for influencing that price downward from the point of view of the bank. If you wait to the end of the transaction to do the inspection, the bank is not going to go back and adjust that value.
If the bank is going to counter the terms or the price, they will do so at this point. This is where the high-level negotiating comes in.

eHow: What happens when you get a decision?

Eyerman: A formal letter of approval gives the terms of the decision. Reviewing that final approval is important for both the buyer and the seller.
It’s a more important document for the seller. That document is going to tell them in most cases what could happen after the closing. Not every bank is going to agree to waive their deficiency, no matter how well you negotiate this thing.
The most significant preparation for the buyer is to manage their expectations [and know] that the process will take longer than they expected. The buyer needs to be prepared for how stressful this is and that the closing date is going to move around. They need to be aware this process could draw out and it’s going to be unpredictable.
[But] if they hunker down and do their homework, get an early inspection and ask a lot of questions, at the end of the day, they’re likely to get a great deal.

Short Sale Expert Broker Aaron Eyerman of Blue Water Realty Inc of SW FL 
www.OnlyFloridaHomes.com
aaron@bluewaterrealtyofswfl.com 

How Do Short Sales Work?

What is a Short Sale?

A short sale occurs when a lender agrees to accept less than the full balance of the amount owed in order to release their lien on real property. Short sales have become a popular solution for homeowners who wish to sell their property but owe their lender(s) more than their home is worth.

Sellers

  • You may want to seek legal and/or tax advice before initiating a short sale.
  • If you are interested in pursuing a short sale, you must document your financial hardship. You must be able to prove to your lender that a situation exists making you unable to afford your current mortgage payment, your current income does not allow you to afford your monthly payment, or you are financially distressed.
  • Possible outcomes of an approved short sale include, but are not limited to:
    • Your Lender will issue an IRS Form 1099 on the amount "forgiven", which may be taxable. (The Mortgage Forgiveness Debt Relief Act of 2007 applies to owner occupied properties.)
    • Your Lender may accept an amount to release the lien but keep the account "open" to charge off or send to collections; meaning you remain personally liable for the unpaid balance.
    • Your Lender may seek a deficiency judgment against you for the unpaid balance. In most cases we get this waived for our seller(s).
    • Your Lender may require that you bring some funds to closing; and/or require that you enter into an unsecured loan. In many closed transactions we were able to get our seller(s) up to 3,000 at closing paid from the lender to the borrower to cooperate with the shortsale.
    • There may be credit implications- these usually pertain to late payments. Your account will be shown as settled which is not as severe as credit implications arising from a foreclosure of your property.
  • Lenders will want to see financial records (i.e. bank statements, paystubs, tax returns etc.)
  • House should be listed at market value
  • I will contact your lender(s) to:
    • Get a fax number for their short sale and/or loss mitigation department.
    • Obtain/submit Third Party Authorization form allowing Blue Water Realty Inc of SW FL and/or Title Company to help monitor the status of your loan and communicate with the lender(s) throughout the process.
    • Monitor loan status until closing.
  • We will contact the title company as early in the process as possible. We will:
    • Order loan payoff(s)
    • Get HOA Dues and County Property Tax status
    • Order prelimary title examination to verify any liens filed since your acquisition of the property.
    • Prepare preliminary HUD-1 Settlement Statements for your lender’s review/approval.
  • Additional pertinent information
    • Have you received foreclosure notices?
    • Are you currently in bankruptcy?
    • Are you U.S. Citizen or resident alien?

Buyers and Sellers

COMMON TERMS OF A SHORT SALE CONTRACT
  • Advisable not to allow pre-occupancy or rentbacks
  • The property should be sold in its "AS IS" physical condition as of the contract date- Use the NVAR Contingencies/Clauses Addendum.
  • Home Inspections at Buyer’s expense and should be for informational purposes only
  • Termite Inspection/Treatment and repairs at Buyer’s expense
  • Well and Septic Inspections and repairs at Buyer’s expense
  • Home Warranty paid by Buyer
  • Final Walk-Thru permitted for convenience but not for additional negotiations
  • Must show Third Party Approval required- Use the appropriate Short Sale Addendum.
  • A contract is ratified once it is signed by the seller and buyer. Third party approval is only a contingency as the lender(s) do not sign the contract; they provide their own separate approval of the terms of the transaction.
Patience and Persistence…
  • I follow up with the lender(s) every 2-3 days to see how things are moving along, even if they tell you not to call that often.
  • Update Selling Agent and Buyer at least once a week. Communication is imperative.
  • Lender(s) will assign their files to a negotiator approximately 2-4 weeks after the package is received. This person will handle the file through the approval process.
  • Lender will order their own BPO (Broker Pricing Opinion/Appraisal). They may counter the contract offer based on the value of the BPO.
  • Approval/denial usually comes within 2-6 weeks of BPO approval.
  • The average turnaround time for approval or denial is 45-60 days. However some have taken up to 90 days.
  • Carefully review all terms contained in the approval letter from each lender before settlement.
Additional Information for Buyers
  • Ask your Agent to interview the Listing Agent to make sure they know what they are doing. Important questions to ask:
    • Have you handled many or any other short sales?
    • Is there a 1st and 2nd lien on this property? Are they with the same lender?
    • Has a preliminary title search been done?
    • Have you checked the seller for bankruptcy?
    • Has a foreclosure date been set?
    • Is this the first contract on the property?
      • IF YES: Do you have all of the required documents from the seller to submit to the lender(s)
      • IF NO: Has the lender(s) done their appraisal?
      • Do you have an estimated timeframe that you expect to get approval; or were you on the verge of approval when the last contract fell through?
  • Expect the lender(s) to counter your offer
  • Patience is a must on short sale - it can be a slow process. If you are in a "have to move" situation, then a short sale is probably not right for you.
  • Suggested Terms in the Contract
    • Buyer(IN MOST CASES) reserves the right to cancel contract at any time prior to 3rd party approval
    • Consider delaying other contingencies (appraisal, financing, etc) until 3rd party approval is received
    • Indicate earnest money deposit will be given and deposited upon 3rd party approval

    Short Sale Expert Broker Aaron Eyerman of Blue Water Realty located in Cape Coral and Fort Myers Florida has closed hundreds of transactions and has many in the pipe line set to close, he has a strong passion for helping his clients achieve a positive outcome. Eyerman teaches local short sale clases for office associates and host public educational events. Let us know your concerns, We are here to help.
Aaron Eyerman Broker of Blue Water Realty Inc of SW FL
www.OnlyFloridaHomes.com
aaron@bluewaterrealtyofswfl.com

Need Short Sale Help? Is your lender Bank of America? Cape Coral and Fort Myers Short Sale Help

Bank of America Leads Lenders in U.S. Home Short Sale Approvals


Bank of America Corp., the U.S. lender with the most housing-related writedowns, is allowing the highest number of properties to be sold at a loss as short sales become an increasingly common foreclosure alternative.
The Charlotte, North Carolina-based bank approved 5,276 short sales in January, topping JPMorgan Chase & Co. , with 2,976, and Wells Fargo & Co., the biggest home-loan originator, with 2,788, according to a report today by RealtyTrac Inc. The total number of U.S. short sales, in which properties are bought for less than what’s owed on them, rose 33 percent from a year earlier in January, the latest month for which figures are available, and is expected to set a record this year, the Irvine, California-based data provider said.


We use an online based system to communicate and negotiate all of our Short Sales and we have had great result. In most cases we were able to get our sellers relocation assistance of up to $3000 to cooperate with a short sale and the best part was the seller avoided a deficiency judgment which would allow them to apply for a loan allot sooner than if they would have just walked from the property and foreclosed. Here in SW Florida- Cape Coral, Fort Myers, Lehigh Acres we have closed several hundred Short Sales.

This program is one we try and qualify all of our sellers in Lee county, Cape Coral, Fort Myers, Lehigh Acres for and help them throughout  the process. The program is a HAFA (Home Alternative Foreclosure Assistance) and is offered to a large number of home owners. If you would like more information on HAFA or a possible Short Sale you may contact us at  

www.OnlyFloridaHomes.com


Buyers: It’s time to commit and Buy

 It’s an old investment adage that remains true: “Buy low, sell high.”

National Association of Realtors® (NAR) President Moe Veissi, who served as Florida Realtors president in 2002, explains why conditions have never been better to buy a home in an online radio interview.

The Real Estate Today interview can also be forwarded through Facebook and Twitter to friends, family and clients.

Veissi, broker-owner of Veissi & Associates Inc. in Miami, says today’s real estate market has “less folks looking, less inventory and more contracts working. … We’re just now seeing appreciation in real estate prices in some areas of the country. … This is a wonderful time to take advantage of interest rates that are lower than they’ve ever been.”

Veissi quotes investor Warren Buffet’s outlook on the current real estate market: “Warren Buffet appeared on CNBC about two weeks ago, and the young lady that was interviewing him asked where you should invest your money. Warren said, ‘If I had the capabilities, I’d buy 200,000 homes across this county … I think that housing in America today will outstrip the investment capabilities of the Wall Street blue chips over the longer term.”

To hear the five-minute radio interview , visit the Real Estate Today website at: http://retradio.com/?p=4916.


www.OnlyFloridaHomes.com

Pace of short sales increases

Short sales outnumbered foreclosure sales in 12 states in January, indicating that more homeowners are finding an easier way out of a distressed home loan.

Short sales – which occur when a lender agrees to a home sale for less than what’s owed – were up 33 percent in January year-over-year, and preliminary February numbers also look strong, according to market researcher RealtyTrac.

Its data underscore lenders’ increased willingness to do short sales, which tend to harm neighborhoods less than foreclosures. Homeowners also may regain eligibility for a new mortgage sooner than those who go through foreclosure.

More short sales “is mostly a good thing,” says Ira Rheingold, of the National Association of Consumer Advocates. One concern is that homeowners may have to short sell after being denied loan modifications that would have enabled them to stay in homes, he says.

RealtyTrac says foreclosure sales, which occur after a bank has repossessed a property, still outnumber short sales nationwide but the gap is closing.

Earlier this week, Bloomberg News reported that data from mortgage tracker Lender Processing Services show short sales surpassed foreclosures in January for the first time.

RealtyTrac’s data show that occurred in key states at the forefront of the housing downturn, including California, Arizona, Florida and nine others.

Lenders are pricing short sales more aggressively, RealtyTrac adds. In January, the average short sale price was 10 percent lower than a year earlier, exceeding the drop in U.S. home prices.

Some mortgage servicers started pursuing short sales more aggressively months ago. Bank of America says it did 107,000 short sales last year, up from 92,000 in 2010 and double the 2009 volume.

New measures are also likely to boost short sales.

Freddie Mac and Fannie Mae, which own or guarantee 60 percent of home loans, will soon require lenders to decide short sale offers within 60 days. Realtors have complained that short sale offers often linger. The recent $25 billion mortgage settlement also encourages short sales.

New rules have slowed foreclosures in many states, increasing short sales, says Florida foreclosure defense attorney Roy Oppenheim.

Copyright © 2012 USA TODAY, a division of Gannett Co. Inc., Julie Schmit

Existing-Home Sales Decline in March but Inventory Down, Prices Stabilizing

WASHINGTON (April 19, 2012) – Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®.
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 2.6 percent to a seasonally adjusted annual rate of 4.48 million in March from an upwardly revised 4.60 million in February, but are 5.2 percent above the 4.26 million-unit pace in March 2011.
Lawrence Yun, NAR chief economist, said the recovery is in the process of settling into a higher level of home sales. “The recovery is happening though not at a breakout pace, but we have seen nine consecutive months of year-over-year sales increases,” he said. “Existing-home sales are moving up and down in a fairly narrow range that is well above the level of activity during the first half of last year. With job growth, low interest rates, bargain home prices and an improving economy, the pent-up demand is coming to market and we expect housing to be notably better this year.”
Total housing inventory at the end of March declined 1.3 percent to 2.37 million existing homes available for sale, which represents a 6.3-month supply2 at the current sales pace, the same as in February. Listed inventory is 21.8 percent below a year ago and well below the record of 4.04 million in July 2007.
“We were expecting a seasonal increase in home listings, but a lack of inventory has suddenly become an issue in several markets with not enough homes for sale in relation to buyer interest,” Yun said. “Home sales could be held back because of supply factors and not by demand – we’re already seeing this in the Western states and in South Florida.”
The national median existing-home price3 for all housing types was $163,800 in March, up 2.5 percent from March 2011. Distressed homes4 – foreclosures and short sales sold at deep discounts – accounted for 29 percent of March sales (18 percent were foreclosures and 11 percent were short sales), compared with 34 percent in February and 40 percent in March 2011.
Foreclosures typically sold for an average 19 percent below market price in March, while short sales were discounted 16 percent.
NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said buyer traffic is up. “Our members are reporting an increase in foot traffic from a year ago, but more importantly, home shoppers this year are much more serious about finding the right home and making an offer,” he said. “Stabilizing home prices and historically favorable affordability conditions are giving buyers more confidence, and Realtors® have become more optimistic since the beginning of the year from the positive shift in buyer patterns.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.95 percent in March, up from a record low 3.89 percent in February; the rate was 4.84 percent in March 2011; recordkeeping began in 1971.
All-cash sales slipped to 32 percent of transactions in March from 33 percent in February; they were 35 percent in March 2011. Investors account for the bulk of cash transactions.
Investors purchased 21 percent of homes in March, down from 23 percent in February and 22 percent in March 2011. First-time buyers accounted for 33 percent of transactions in March; they were 32 percent in February and 33 percent in March 2011.
Single-family home sales declined 2.5 percent to a seasonally adjusted annual rate of 3.97 million in March from 4.07 million in February, but are 5.9 percent above the 3.75 million-unit pace a year ago. The median existing single-family home price was $163,600 in March, up 1.9 percent from March 2011.
Existing condominium and co-op sales fell 3.8 percent to a seasonally adjusted annual rate of 510,000 in March from 530,000 in February, and are unchanged from March 2011. The median existing condo price was $165,200 in March, which is 7.1 percent above a year ago.
Regionally, existing-home sales in the Northeast declined 1.7 percent to an annual level of 580,000 in March but are 5.5 percent higher than a year ago. The median price in the Northeast was $228,300, down 1.9 percent from March 2011.
Existing-home sales in the Midwest were unchanged in March at a pace of 1.02 million but are 15.9 percent above March 2011. The median price in the Midwest was $132,800, up 5.2 percent from a year ago.
In the South, existing-home sales slipped 1.1 percent to an annual level of 1.75 million in March but are 3.6 percent higher than a year ago. The median price in the South was $146,500, up 6.2 percent from March 2011.
Existing-home sales in the West fell 7.4 percent to an annual pace of 1.13 million in March and are 0.9 percent below March 2011. The median price in the West was $198,300, up 1.6 percent from a year ago.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.http://bcove.me/5pikgaj7

Thursday, April 19, 2012

5 Cities With the Biggest Population Growth

Several cities across the country are reporting large gains in their populations over the last decade. CNNMoney recently highlighted some of the fastest growing cities, based on Census Bureau data from 2000 to 2010.

The following cities have seen their populations grow by 50 percent or more in the last decade:

1. Charlotte, N.C.
2010 population: 1,249,449
Population growth from 2000-2010: 64.6%

2. Raleigh, N.C.
2010 population: 884,891
Population growth from 2000-2010: 63.4%

3. Cape Coral, Fla.
2010 population: 530,920
Population growth from 2000-2010: 60.8%

4. Provo, Utah
2010 population: 482,819
Population growth from 2000-2010: 59%

5. Austin, Texas
2010 population: 1,362,416
Population growth from 2000-2010: 51.1%

www.OnlyFloridaHomes.com

Report: Sellers' Asking Price Rose in March



Here’s a sign that sellers are feeling more optimistic about their prospects this spring: median asking prices in March jumped by 5.6% from a year ago, and were up 1% from February, according to a report released Tuesday.

The jump in median asking prices comes amid a sharp drop in the number of homes listed for sale from one year ago. While listing inventories in March rose by 1.5% from February, they were still 21.5% below last year’s levels.


Click for interactive with metro-level data.
Inventories of homes listed for sale tend to go up in the spring, and the 1.8 million listings in March represented the second straight increase for the year. Over the past 27 years, the average increase in for-sale listings in March has been 1.8% from February, according to research firm Zelman & Associates.

The Realtor.com figures include sale listings from more than 900 multiple-listing services across the country. They don’t cover all homes for sale, including those that are “for sale by owner” and newly constructed homes that aren’t always listed by the services.

Compared with February, inventories declined in roughly less than half of the top 30 metros tracked by Realtor.com during March, with the biggest declines in Phoenix (-6.4%), Seattle (-4.8%) and Orlando, Fla. (-4.2%).

Northeastern cities showed the largest inventory gains — a finding that shouldn’t surprise given that sellers are more likely to list their homes when the weather improves. Washington, D.C., saw a 9.5% gain, followed by Philadelphia (8.1%) and Boston (7.4%).

More In Realtor.com

Spring Ritual Returns: 'For Sale' Signs Sprout
Where Are All the Home Sellers?
Housing Inventory Ends Year Down 22%
Already Low, Housing Inventory Drops More
Housing Inventories Fall to New Four-Year Low in October
But compared with one year ago, inventories are still down sharply in almost all of the 145 markets tracked by Realtor.com. Just two, Philadelphia and Hartford, Conn., have seen any annual inventory increases. Listings are down by more than half in Oakland and Bakersfield, Calif.

Where are prices rising? Median asking prices were up from one year ago or unchanged in the vast majority of markets, with whopping increases of 23% in Phoenix, 22% in Miami, 17% in Washington, D.C.

The biggest monthly price gains were reported in San Francisco (6.1%), Seattle (5%) and Washington, D.C. (4.1%).

Where are prices falling? Chicago topped the list, with median asking prices down by 9.5% from last year’s levels. Orange County, Calif., saw a 5.4% decline and Los Angeles posted a 3% drop.

Compared with February, asking prices turned up in all but one of the cities, with Minneapolis posting a 2.2% drop in median listing prices from February.

By Nick Timiraos

Wednesday, April 18, 2012

SouthWest Florida- Cape Coral,Fort Myers Florida Real Estate Market Update YTD


Two real estate reports suggest Fla. rebound

CHICAGO – Nov. 17, 2011 – Two national studies – one from Realtor.com and one from Trulia – suggest that some Florida markets are poised for a real estate rebound.

“This is a positive trend for Florida,” says John Tuccillo, Florida Realtors chief economist. “While Trulia and Realtor.com aren’t completely accurate in home prices and sales – mainly because they base their numbers on only homes listed on their website – it’s useful to look at visitor behavior and note the trends. If Trulia says more visitors are doing a home search in the Miami market, for example, it probably follows that Miami is experiencing an upswing in demand.”

Realtor.com’s Top Ten Turnaround Report

In Realtor.com’s “Top Ten Turnaround Report,” six Florida cities were considered good bets for an upswing in sales. Realtor.com, which is owned by The National Association of Realtors®, says it created a formula to rank a city’s turnaround potential based on recent price appreciation, changes in inventory, median age of inventory, number of Realtor.com searches by visitors and area unemployment.

Realtor.com attributes the Florida cities’ success to year-over-year home price increases, reductions in inventory, lower unemployment rates and, in some cases, an upswing in international buyers.

Realtor.com’s turnaround list includes:

1. Miami: Ranked No. 1 in the report, Miami hit the top based on “a healthy inventory that is only half the size from a year ago,” a lower foreclosure rate than the national average, and an increase in condo sales.
2.  Orlando: While No. 2, Realtor.com says Orlando had more home searches than any other city when compared to the total number of listings. It also had a significant drop in the number of foreclosures.
3. Fort Myers-Cape Coral: Median prices in Fort Myers-Cape Coral have increased year-over-year, foreclosures are down, inventory is lower and foreign buyers are attracted to the area’s real estate prices.
4. Phoenix-Mesa, Ariz.
5. Fort Lauderdale: Inventory has decreased and prices have increased, says Realtor.com.
6. Sarasota-Bradenton: About one in 10 foreign buyers look in Sarasota-Bradenton for a home, Realtor.com says. Listing prices have increased and inventory has decreased.
7. Lakeland-Winter Haven: According to Realtor.com, the number of distressed sales has decreased significantly and prices have gone up.
8. Boise City, Idaho
9. Fort Wayne, Ind.
10. Ann Arbor, Mich.

Trulia’s Metro Movers Report

Trulia has debuted a new report that analyzed its home searches.

In one study, Trulia looked at the number of people who searched for housing in a city – including renters – and compared it to the number of city residents looking elsewhere for a home. An area with a high number of inbound searches and a low number of outbound searches, Trulia reasons, suggests an increased demand for housing.

According to the study, the North Port-Bradenton-Sarasota area had six times more searches by inbound people than outbound people, landing it in the list’s No. 1 position, but four other Florida cities also made the top 10 list:

1. North Port-Bradenton-Sarasota
2. Riverside-San Bernardino-Ontario, CA
3. Charleston-North Charleston-Summerville, SC
4. Fort Lauderdale-Pompano Beach-Deerfield Beach
5. Cape Coral-Fort Myers
6. West Palm Beach-Boca Raton-Boynton Beach
7. Fort Worth-Arlington, TX
8. Oxnard-Thousand Oaks-Ventura, CA
9. Las Vegas-Paradise, NV
10. Orlando-Kissimmee-Sanford
    
Trulia also looked at the Chicago and New York City markets to see where residents wanted to move. Three Florida cities ranked in the top 10 for Chicago residents: Tampa-St. Petersburg-Clearwater (No. 4), Cape Coral-Fort Myers (No. 6) and Orlando-Kissimmee-Sanford (No. 10).

In New York City, five Florida cities made the list: Miami-Miami-Beach-Kendall (No. 2), Orlando-Kissimmee-Sanford (No. 3), West Palm Beach-Boca Raton-Boynton Beach (No. 5), Fort Lauderdale-Pompano Beach-Deerfield Beach (No. 6) and Tampa-St. Petersburg-Clearwater (No. 7).

© 2011 Florida Realtors®