Blogger in Paradise

Good article. Positive for our economy. Might have to start making dinner reservations starting sooner this year.  Read More.

For those that are interested, the marketing reports for our area for September and the third quarter of 2010 are now available on my Newsletters page at SwFlRealEstateNews.com. Click here or on the Newsletters tab at SwFlRealEstateNews.com.

For those interested, you can go to my RE news site, SwFlRealEstateNews.com and get the latest numbers on our market. Click here to go directly there.

The good news is that even though there were fewer sales this August than in 2009, it was still the second highest number of sales for the month in the ten years for which we have data.

The Lake at Rapallo. Click for enlarged pic.

I usually don’t do Open Houses in August because no one is around. Did one on Sunday in Rapallo because the listing agent couldn’t and had promised to have it open. Nice condo on the lake. It’s near the Coconut Point shopping center and you can walk there for shopping or the restaurants. Proved again that August is a time to take a vacation. Only a couple of people came by, but still it had a nice view and I got some work done while it rained outside.

I’ve posted our newest Market Report for our area on the Newsletters page.
You can Click Here.

I just put the Market Reports for June and the 2nd Quarter up on my news website SwFlRealEstateNews.com for your reference. Things have slowed due to the summer, but are still ahead of last year. Read More.

There is a tick up in construction permits in Lee County. You can read the story here. Encouraging, but not the end of short sales and foreclosures.

The Lee County Commissioners had a vote this morning as to whether or not to raise the millage rate for property taxes. You can read the story here.  Basically they’re going to raise the rate with a technical rule without a majority of the commissioners voting for it. They feel they need to raise the property tax to fund the county rather than cut the budget more. I feel they need to do the dirty work of balancing the budget on what they’re going to get rather than just take more money from us. Must be nice – need more money, just take it. As they say “Remember in November”.

They finally acted on the Homebuyer Tax Credit and National Flood Insurance Program extensions.
Click to Read More.

The upside of the economic situation and resulting nervousness in Europe is that money is pouring into Treasury bonds and lowering our mortgage interest rates. Refinance rates are the lowest in 50 years! The result of the lower interest rates is that smart buyers are applying for home loans and mortgage applications are up 9%.  For the whole story click here.

You constantly read (here included) about the market being up or down and wonder what’s happening. Click on my News Roll tab above or go to SwFlRealEstateNews.com for stories. The key to understanding is that all Real Estate is Local. Though, obviously, there are large influences that affect things globally, how those influences affect local markets varies due to the many differences in the local market. When the cycle started,  the local economy, buyer profiles, and the attractions of the local area but a few. When you see news articles discussing the Real Estate market, make sure you analyze where they’re talking about. There’s always a down market and an up market somewhere. The national news services prefer to concentrate on disasters. If it bleeds it leads.

Here we entered the down spin early – leading the nation (what and honor!). We have been working on the inventory for several years now and we are nearing a balance. Click Here for an article on the subject.

Where we go from here depends on a lot of things, but the trend has been slow but positive for a while. Whether or not it continues a steady uptrend or varies up and down for awhile, one thing is pretty for sure – when you can buy something for 30-50% below what it would cost to build it there’s good money to be made in the long haul. We keep making people and they’ll need somewhere to live. Sooner or later building will start again and those buildings can’t be sold for less than it costs. The builders won’t build  until they can make a profit. At that time, those that are buying now (and a lot of people are making those investments) will do well.

My May newsletter is out and available for free at my news site – SwFlRealEstateNews.com

The news continues to be good and most notable is the 5% increase in average and median sales prices.  While May numbers reflect the normal seasonal shift, they are still very strong in all price categories for both closed and pended sales.

You can read past newsletters there, too, so you can see the trends.

The foreclosure rate seems to be leveling off – see article on my news site. This is good news and it’s been happening in our area for the last few months. Although there are a lot of foreclosures in the pipeline, slowing down the supply coming on the market is helping demand stop the downward spiral in prices. This helps everyone. Once the flood of foreclosures is taken care of prices will firm and eventually slowly start climbing. Don’t expect prices rising like the go go days of a few years ago.

FORT LAUDERDALE, Fla. – June 3, 2010 – Before Larry Thomas unloaded his Pompano Beach, Fla., home last fall for a fraction of what he paid, he cut a deal that will keep him from worrying about a huge debt hanging over his head.

Thomas insisted that his lender, American Home Mortgage Servicing, agree not to come after him for the estimated $174,000 he still owed on his two mortgages. “I feel incredible relief,” the 32-year-old restaurant manager said last week.

Others may not be as fortunate.

Check out the complete article at SwFlRealEstateNews.com or here.

I’m doing a Open House in one of the high-rises in The Colony in Bonita Springs. When I first got here I thought, ” Why would anyone want to live in an condo building with so many nice houses around?”

After going up to the 14th floor and seeing the view, I understood. Fantastic

The Treviso high rise at The Colony

views for miles. The Gulf, Fort Myers Beach, etc – you see for forever. Sitting in a 3100 sqft unit watching the birds, golfers, and the momma gator that hangs out in the lagoon below.

The units are all taken care of for the owners, great security, lush grounds, and a private island that you can go to for the day. I can see why part time residents like them.

Back to work.

Over the golf course and the mangroves