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September Pending Home Sales Down, Still Higher Than a Year Ago
October 27th, 2011 | Posted in Uncategorized | Comments Off
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Washington, DC, October 27, 2011

Pending home sales declined in September, although activity remains above a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, fell 4.6 percent to 84.5 in September from 88.6 in August but is 6.4 percent higher than September 2010 when it stood at 79.4. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, said the housing market is being excessively constrained. “A combination of weak consumer confidence and continuing tight lending criteria held back home buyers, even though the private sector added nearly 2 million net new jobs in the past 12 months,” he said.

The PHSI in the Northeast declined 4.7 percent to 60.6 in September but is 4.0 percent above a year ago. In the Midwest the index dropped 6.2 percent to 71.5 in September but remains 12.3 percent higher than September 2010. Pending home sales in the South fell 5.5 percent in September to an index of 91.6 but are 5.0 percent above a year ago. In the West the index declined 2.1 percent to 105.8 in September but is 5.6 percent higher than September 2010.
“America’s monetary policy is contradictory and confusing, where some consumers with the best financial capacity and top-notch credit scores pay higher mortgage interest rates,” Yun said. “The Federal Reserve evidently has been attempting to lower mortgage rates, yet more consumers are faced with taking out jumbo loans that carry higher interest rates.”

Yun emphasized the need to reinstate higher loan limits in 42 states. “Just leaving excessive cash to sit in banks and not work into the economy is a drag on the overall recovery,” he said. “We need a comprehensive approach to address housing issues – not additional impediments.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

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Why & When you Need a Building Permit
October 26th, 2011 | Posted in Uncategorized | Comments Off
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If you are having major work done in your home, a building permit protects you and the future occupants of the home. Florida State law requires that when you sell a property your are legally obligated to disclose any renovations that were done without a building permit. If you have remodeled without a permit you may be required to apply for a permit, have the building department inspect the renovations to be sure that the work is up to code and in some cases you may be required to dismantle the work that was done without the permit.

A building permit is required of you:

• Change the footprint of the house
• Move a load-bearing wall
• Alter the roofline
• Create a new door or window opening
• Replace an electric stove wit a natural-gas model
• Move a sink
• Install new electrical wiring

A Building permit is Not required if you:

• Install new floor coverings
• Replace doors or windows without altering the structure
• Change a countertop
• Replace a faucet
• Repaint the interior or exterior of the house

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Naples Beaches Ranked the Highest
May 6th, 2011 | Posted in Florida, Naples Real Estate, Retirement | 12 Comments
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Naples ranked 5th in U.S. News Rankings and Reviews most relaxing beaches.  It was the highest ranked U.S. mainland location, and only a few Hawaii and Caribbean beaches were ranked higher.  That is a tremendous statement for the quality of our area beaches. More….



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PENDING SALES CONTINUE
January 5th, 2011 | Posted in Homes Sales, Naples Real Estate | 1 Comment

PENDING SALES CONTINUE THEIR

STRONG TREND … 

UP 13% IN THE NAPLES AREA 

 

 

Overall, pending sales for the 12 months ending November 2010 increased 7%, while the median closed price for the same period increased 3% for properties over $300,000. 

 

Some highlights:

Single-family closed sales increased 6% with 3,975 sales for the 12 months ending November 2010 compared to 3,756 sales for the same period the prior year ending November 2009.

 

 Single-family pending sales in the $1 to $2 million category increased 49% for the 12 months ending November 2010 with 263 contracts compared to 176 contracts for the 12 months the prior year ending November 2009.

 

Condo pending sales for the 12 months ending November 2010 increased 16% with 4,466 contracts compared to 3,849 contracts for the 12 months ending November 2009.

Nabor Nov 2010

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Where Do Most People Want to Live?
October 25th, 2010 | Posted in Retirement | Comments Off
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If you could live in any state, except the one you live in now, what state would you choose to live in?

The Harris Poll has asked this question every year since 1997. While California tops the list of most popular states to live in among Echo Boomers (now ages 18 to 33) and Gen Xers (ages 34 to 45), Hawaii is the top pick for Baby Boomers (ages 46 to 64) and Matures (ages 65 and over). Among Echo Boomers, Hawaii drops out of the top five.

Here are the top-10 states across the age groups:

  1. California
  2. Hawai
  3. Florida
  4. Colorado
  5. Arizona
  6. North Carolina
  7. Oregon
  8. Texas
  9. New York
  10. Washington

Source: Harris Interactive (10/19/2010)

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8 Alternatives to Pricey Retirement Locales
October 22nd, 2010 | Posted in Uncategorized | 25 Comments

Even with their retirement nest eggs diminished by the tough economy, some retirees aren’t giving up on their dreams of living in beautiful spots. Instead, they are searching for similar but cheaper alternatives.

SmartMoney calls these locales “doppelgangers” — more affordable twins with similar climate, culture, and amenities than their better-known other half.

Here are their suggested substitutes:

● Prescott, Ariz., as an alternative to Sedona, Ariz.
● St. Augustine, Fla., instead of Sarasota, Fla.
● Chattanooga, Tenn., instead of Ashville, N.C.
● Bloomington, Ind., instead of Madison, Wis
● Caron City, Nev., instead of Boulder, Colo.
● Auburn, Ala., instead of Pinehurst, N.C.
● Bellingham, Wash., instead of Eugene, Ore.
● San Luis Obispo, Calif., instead of Santa Barbara, Calif.

Source: SmartMoney, Catey Hill (10/20/2010)

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Price Trends for Single Family Homes in Naples Zip Code 34103
August 25th, 2010 | Posted in Uncategorized | Comments Off

This Week
Monday August 23, 2010

The median list price in NAPLES, FL 34103 this week is $648,950.

Inventory is tightening and days-on-market is falling. But demand
as measured by the Market Action Index is also trending down. The
market is not giving strong up or down signals from these data.

Supply and Demand

The market has been consistently cool for several weeks. Demand
level are low relative to the available inventory. It’s a Buyer’s
market and prices continue to fall. Look for a persistent shift in
Market Action before prices plateau or begin to rise again.

Price

Again this week in this zip code we see a downward notch for
prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a
persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.

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How Buyers Found The Properties They Purchased
July 23rd, 2010 | Posted in Gulf of Mexico, Homes Sales, Internet, Naples Real Estate, Realtor | Comments Off
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Homebuyers may use several information sources in their search process, but they are most likely to find the home they actually purchase through a real estate sales professional.

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Is a Naples Lifestyle for you?
July 18th, 2010 | Posted in Uncategorized | 3 Comments
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Tucked into Florida’s south west corner lies the “The Jewel of the Gulf”
Naples, FL is a tropical paradise rich in economic vitality and luxury living. This coastal community with its almost constant breeze off the Gulf of Mexico is the best place to enjoy an active, healthy outdoor lifestyle year round. The pristine beaches, charming outdoor cafes and local markets are perfect for romantic escapes.
Naples is home to not one, but two Ritz Carlton’s which set the standard for the amenities and services that are found in Naples. From upscale shopping, galleries and performing arts venues to seemingly endless dining choices “The Jewel of the Gulf” provides a standard of living not found anywhere else in Florida. It’s the perfect place to live, work or visit!

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NOAA Models Long-Term Oil Threat to Gulf and East Coast Shoreline
July 9th, 2010 | Posted in Gulf of Mexico, Oilspill | 1 Comment

Much of the west coast of Florida has a low probability (20 percent down to less than 1 percent) of oiling…

NOAA has used modeling of historical wind and ocean currents to project the likelihood that surface oil from the Deepwater Horizon/BP oil spill will impact additional U.S. coastline. This modeling, part of NOAA’s comprehensive response to the unprecedented Gulf oil disaster, can help guide the ongoing preparedness, response and cleanup efforts…..

The NOAA model indicates:

The coastlines with the highest probability for impact (81 to 100 percent) extend from the Mississippi River Delta to the western panhandle of Florida where there has been and will likely continue to be oil impacts.

Along U.S. Gulf of Mexico shorelines, the oil is more likely to move east than west, with much of the coast of Texas showing a relatively low probability of oiling (ranging from less than one percent in southern Texas to up to 40 percent near the Louisiana border).

Much of the west coast of Florida has a low probability (20 percent down to less than one percent) of oiling, but the Florida Keys, Miami and Fort Lauderdale areas have a greater probability (61 to 80 percent) due to the potential influence of the Loop Current. Any oil reaching this area would have spent considerable time degrading and dispersing and would be in the form of scattered tar balls and not a large surface slick of oil.

There is a low probability of shoreline impacts from eastern central Florida up the Eastern Seaboard (20 percent diminishing to less than one percent). Potential impacts become increasingly unlikely north of North Carolina as the Gulf Stream moves away from the continental U.S. at Cape Hatteras. If oil does reach these areas, it will be in the form of tar balls or highly weathered oil.

Click here for more information

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