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I can give you access to ALL the dreams homes of Marco Island and Naples. Complete with photos and visual tours, they are just a click away.

Call me today.

Joanne Tailele

ERA Flagship Real Estate

239-784-2637    

JoanneSellsMarco@gmail.com

Ship’s Journal A homeowner’s and investor’s guide to the future.

30% INCREASE. Mortgage rates have skyrocketed ( see below ) . While the rates are still historically low, the upward movement was thought to take a nick out of the housing market, especially the lower end. Some are walking a thin line on affordability. Some home shoppers may now need to lower their expectations and settle for a smaller entry to their dream of home ownership.  MORTGAGE RATES ( approx. national average ) : 30 yr – $4.375%; 15 yr.- 3.41%; 5 yr. adj.2.87%.

STATE of FLORIDA. Florida ‘ s population will soon replace the state of New York as the third most populous state in the union. The combination of people leaving New York and people moving to Florida ( from many areas ) has resulted in moving Florida up the population ladder. The trend is not only from people retiring to Florida, but job opportunities. Retirees are making the move south. While some are boosting our population, other southern states are also benefiting by the southern migration. Healthcare is a booming business in Florida and with it comes peripheral job opportunities. Also, many corporations are making a move to the Florida lifestyle. Recently, Hertz, the car rental firm, announced a move to Florida ( more below ) and others are following in various Florida markets.

Tourism has seen a jump this year, but while tourism is the number two driver ( real estate is #1 ) of Florida’ s economy there are many other venues that put Florida on top of the ” place to live” list. Just consider this: how many other states have 3 pro football teams, 2 pro baseball teams, 2 pro basketball teams, not only a “southern state” pro hockey team, but 2 of them? Florida has a lifestyle unlike any other.

SOUTHWEST FLORIDA. While Marco Island and Naples are considered one market, nationally, they are part of the bigger entity, Southwest Florida (Collier, Lee and Charlotte counties.) What happens in Lee County affects Collier County and the reverse is true. Recently Hertz Global announced that it was moving it ‘ s world headquarters to Estero in Lee County. The results will generate hundreds of local jobs and move hundreds of Hertz employees to the area. While Hertz needs to get Lee County zoning approval for the site to increase the zoning from 315,000 sq. ft. to over 650,000 sq. ft. the process is expected to be a “no brainer.” The only concern is that the new building will increase the traffic in the area surrounding the site. This site is part of the massive Coconut Point Mall complex. The results will not only add jobs for the construction of the $50.5 million headquarters, it will add jobs for the housing needed to accommodate the influx of new residents. Then there is the filter down effect the increase in personal income that ‘ s created. What about Naples? It appears that some of the early transfer of employees have decided that Naples will be their new home. What a let-down; they have to leave New Jersey life and relocate, and get accustom to, the Naples / Ft. Myers lifestyle.

EDITORIAL by Marv Needles, Broker/Owner of ERA Flagship Real Estate . Is the overall inventory of housing considerably lower? The answer: Yes and No. In some areas, inventory has diminished, but not significantly. However, depending on the price point or location, inventory is non-existent. If investing in Southwest Florida, waiting will cost a lot more considering increased values and the anticipated increase in interest rates. The time has come for some sellers to rejoice.

Excerpt from the NAPLES DAILY NEWS   AUGUST 5, 2013  by June Fletcher

“According statistics from the Naples Area Board of Realtors, in June, the median home price was 23.2 percent higher and the supply of homes was 23.1 percent lower than it was just six month ago. “Before people were looking,’ said Naples real estate agent Dave Tate. ‘Now they are buying.’ …Buyers are being joined by investors, employees being relocated by Hertz and other companies, and seasonal residents. One owner had her beach front property on Marco Island on the market, holding firm to her $345,000 price took her unit off the market in February when no acceptable offers came in When she put it back on the market in July, she near instantly had three acceptable offers to choose from. … Summer buyers are in a fix.  Sellers no longer need to do major improvements to entice a buyer. They must now choose from a resale property that may need some improvements or a new sale at much higher prices.

My Two Cents Worth:  The tide has turned.  If you are a seller, now it your time to get your home on the market. For buyers, waiting is only going to cost you more money in the long run. Rising prices ad rising interest rates are changing the landscape of  real estate in southwest Florida.  Call me today.  239-784-2637  www.JoanneSellsMarco.com

Foreclosures down 14% in June, lowest in 6.5 years

from Florida Realtor News

IRVINE, Calif. – July 11, 2013 – U.S. foreclosure activity decreased 14 percent in June to its lowest level since December 2006, despite a 34 percent jump in judicial foreclosure auctions from a year ago, according to RealtyTrac’s Midyear 2013 U.S. Foreclosure Market Report.

The report finds 801,359 properties with foreclosure filings – which includes all default notices, scheduled auctions and bank repossessions – in the first half of 2013. It’s a 19 percent decrease from the previous six months and down 23 percent from the first half of 2012. One in 164 U.S. housing units had at least one foreclosure filing in the first six months of the year.

June report

• 127,790 U.S. properties had foreclosure filings in June, down 14 percent from the previous month and 35 percent from a year ago. It’s the lowest monthly level since December 2006 – a six and a half year low.

• The number of new foreclosure starts in June dropped 21 percent from the previous month and 45 percent from a year earlier, hitting its lowest monthly level since December 2005 – a seven and a half year low.

• In Florida, new foreclosure starts dropped 26 percent. Other states with a significant drop in starts include Nevada (down 84 percent), Colorado (62 percent), New Jersey (40 percent) and Illinois (39 percent).

• June bank repossessions (REO) decreased 9 percent compared to May and 35 percent from one year earlier. Bank repossessions in June decreased from a year ago in 34 states.

• Judicial foreclosure auctions (NFS) were scheduled for 28,296 U.S. properties in June, up less than 1 percent from May but up 34 percent year-to-year. States with substantial annual increases in scheduled judicial foreclosure auctions included New Jersey (up 103 percent), Florida (up 100 percent), Maryland (94 percent), New York (66 percent), and Illinois (65 percent).

• Florida, Nevada, Illinois, Ohio and Georgia posted the top five state foreclosure rates for the first half of the year, while five Florida cities posted the top five metro foreclosure rates: Miami, Orlando, Jacksonville,Ocala, and Tampa.

Daren Blomquist, vice president at RealtyTrac, says that foreclosures are “no longer a problem nationally,” but they continue to be a problem in states like Florida where the long court process has delayed the progression. However, even states like Florida will soon see an improvement.

“The increases in judicial foreclosure auctions demonstrate that these delayed foreclosure cases are now being moved more quickly through to foreclosure completion,” says Blomquist. “Given the rising home prices in most of these markets, it is an opportune time for lenders to dispose of these distressed properties, either at the foreclosure auction to a third-party buyer, or by repossessing the property at the auction and subsequently selling it as a bank-owned home.

Half-year 2013 Florida report

Florida posted the nation’s highest state foreclosure rate in the first half of 2013: 1.74 percent of housing units with a foreclosure filing (one in every 58) during the six-month period – nearly three times the national average.

A total of 155,264 Florida properties had a foreclosure filing in the first six months of the year, the most of any state and up 12 percent from a year ago.

In June, Florida foreclosure starts (LIS) decreased 23 percent from a year ago but scheduled foreclosure auctions increased 100 percent and bank repossessions increased 14 percent during the same time period.

Other states with foreclosure rates among the 10 highest in the first six months of 2013 were Arizona (0.81 percent of housing units with a foreclosure filing), South Carolina (0.80 percent), Maryland (0.80 percent), Washington (0.78 percent) and Indiana (0.66 percent).

Half-year 2013 Florida cities report

Florida had all five of the top metro areas for foreclosure in the first half of 2013. Miami ranked No. 1 among metropolitan statistical areas with a population of 200,000 or more – 2.35 percent of housing units had a foreclosure filing (one in every 43) during the six-month period – nearly four times the national average.

Four other Florida cities joined Miami to round out the top five metro foreclosure rates in the first half of 2013: Orlando at No. 2 (1.94 percent of housing units with a foreclosure filing), followed by Jacksonville (1.91 percent), Ocala (1.85 percent) and Tampa (1.74 percent).

Florida cities accounted for a total of 12 of the top 20 metro foreclosure rates.

In Florida, the foreclosure process – from first notice to REO status – took an average of 907 days in the first half of 2013, or roughly two-and-a-half years.

In the U.S., a foreclosure averaged 526 days, though two states have a longer foreclosure process than Florida. In both New York and New Jersey, the average foreclosure takes 1,033 days.

© 2013 Florida Realtors®

Ship’s Journal – An Investors Guide to the future

JUNE 2013

The Nation. New York – May 28, 2013 – The Consumer Confidence Index is arguably the most important economic statistic released each month that most NEW – YORK May people ignore.

A positive index number means Americans are feeling secure in the economy and their ability to spend – and their spending feeds an increased rebound as they buy homes, furniture, cars and more. Upbeat attitudes are a precursor to other positive indicators, such as a rising home demand and selling prices.

The Conference Board Consumer Confidence Index, which had improved in April, increased again in May. The Index now stands at 76.2 ( 1985=100 ) , up from 69.0 in April. The Present Situation Index increased to 66.7 from 61.0. The Expectations Index, which gauges attitudes about the future six months from now, improved to 82.4 from 74.3.
Consumers were considerably more optimistic about the short-term outlook. Those expecting business conditions to improve over the next six months increased to 19.2 percent from 17.2 percent ( an 11.6 percent increase ).

NAPLES / MARCO ISLAND. Home prices is nationwide close are to on the a front of the pack. When it comes to year-over-year price increases, the Naples-Marco Island metro tear, Marco and Island the metro Naples-area area is outpacing many major cities, whether or not you include distressed sales, defined as bank-owned transactions and short sales. In Naples-Marco Island, home prices, including distressed sales, increased by 10.8 percent compared to a year earlier. On a month-over-month basis, prices grew by 5.1 percent. Excluding distressed sales, they rose 13.2 percent year-over-year and 3 percent the previous month.

Nationally, home prices rose 12.1 percent year-over-year. The national numbers represent the biggest year-over-year increases since February 2006 and the 14th consecutive monthly increase. Do these large leaps mean consumers should worry about a new housing bubble, like the one which popped seven years ago? Sam Khater, deputy chief economist for CoreLogic, says no, because “ prices have fallen so far from their peaks.”

Nationally, prices remain 22.4 percent below their April 2006 peak, including distressed sales. In Florida, which was infested with investors looking to cash in on vacation-home price run-ups during the boom and then hard-hit by foreclosures, prices are still 40.5 percent below the state ’ s peak, which happened in September 2006. Still, CoreLogic expects that overall prices will stay on the upswing, at least for the short term. Tight inventory for both new and existing homes, coupled with pent-up demand from buyers, are driving the price bump-ups, the report stated.
Khater adds that both individual and institutional investors also are pushing up prices in many places as they scoop up properties, particularly bargain-priced foreclosures — though the pool of such properties is rapidly shrinking.

MORTGAGE RATES ( 2.625%; 5/approx. national average ) : 30 yr. – 3.375%; 15 yr. -2.625&%; 5/1 Adjustable – 1.875%

EDITORIAL  by Marv Needles, Broker of ERA Flagship Real Estate

This been that the case a few years back, things are booming and they are expected to continue through the summer months. The big problem: may have inventory is down nearly 25% over the same period in 2012. In some cases, depending on what the buyer is seeking, their only option is to build. Enter the home builder. Many have re-entered the market ( from working renovations ) , with models and spec homes, thereby offering the buyer more options.

Sources: Naples Daily News, Florida Realtor, Florida Trend and RIS Media  

The Ship’s Journal is a publication of ERA Flagship Rel Estate. Reports are obtained via many media outlets.

When investing in real estate, one should consider consulting with a tax professional.

To answer your real estate needs, call Joanne Tailele at 239-784-2637,

email to JoanneSellsMarco@gmail.com

or consult my website at www.JoanneSellsMarco.com

 

Another new blog?

I am sure you are thinking the world does not need another new blog. But if you are reading this, you must have some interest in real estate or Marco Island.

This blog is to inform you about this beautiful island and to give you solid information about the real estate market and what is new happening in the industry.

The biggest news here is not a big surprise. Inventory is depleting, consumer confidence in the economy is climbing and the new construction is back. What does this mean to the buyers and sellers out there? Mainly it means that prices are on the rise. The few distressed properties that are out there are now receiving multiple offers and bidding wars are common place. Sellers can feel more confident in pricing their homes that they will get a fair market value. Buyers can still take advantage of the market if they act fast. Prices are climbing but it is not at a dramatic pace. Therefore, if they want a good deal on an island home, they will have to act soon before they are priced out of the market.

To learn my audience, please let me a reply and tell me if you are a resident of Marco Island or Collier county, whether you have ever visited here or if you have never heard of our little paradise.