New Listing In the Dunes October 27, 2010

Hello Neighbors and Friends,

I have just listed

325 Dunes Blvd. Terrace #3

The terrace level unit # T-03 offers a unique direct access to the private pool and grill area just steps from your own back door! No need to take the elevator...

The large terrace area is surrounded with lush tropical foliage and is a great place to entertain guests or just relax. This unit has a great floor plan with wood and ceramic tile flooring and offers many custom feathers and comes with all of the great amenities that the Dunes offers.

If you have any questions about YOUR property give me a call! I'm an owner myself and have been since pre-construction. I'm YOUR Realtor.

30-Year Mortgage Rates Remain Low

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages remained relatively steady last week. Last week’s rate was 5.07%, up slightly from 5.06% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages rose to 4.72%, up from 4.68% and 5-1 adjustable rate mortgages decreased substantially, down to 4.38% from 4.47% the week prior.

Mortgage Type Average Rate Average Rate % Change
Week ending Week ending
4/26/09 4/19/09

30-year fixed 5.07% 5.06% 0.2%
15-year fixed 4.72% 4.68% 0.7%
5-1 ARM 4.38% 4.47% -2.2%

Rates for 30-year fixed purchase mortgages fell even further, with the average rate on Zillow Mortgage Marketplace at 4.97%.

Thirty-year fixed mortgage rates varied by state. New Jersey mortgage rates and Pennsylvania mortgage rates increased the most, up from 5.05% to 5.09% in New Jersey, and from 5.03% to 5.07% in Pennsylvania. Georgia mortgage rates (4.99%) and Florida mortgage rates (5.01%) were the lowest in the country, while Ohio mortgage rates (5.17%) were the highest. California mortgage rates were the most requested among all states. Source: RISmedia.com

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RPX Monthly Housing Market Report Shows Sales Picking Up

The spring home buying season appears to be out in full force, despite the beleaguered economy. Home sales are up in most markets, and prices are even trending up in some areas as well. It still is too early to call a market bottom — especially considering the potential foreclosure situation — but this appears to be a positive trend nonetheless.
Spring buying season typically starts in February, and the resulting increase in demand traditionally causes prices to strengthen, and that’s exactly what happened this February as transaction counts increased month-over-month in 22 of the nation’s 25 metropolitan statistical areas (MSAs) tracked by Radar Logic. Home prices also improved in nine MSAs, compared to just six MSAs in February 2008.

“Seasonal strength in home sales was evident in February 2009,” said RadarLogic in its RPX Monthly Housing Market Report released today. “Transactions increased…13 MSAs posted their largest month-over-month increases since 2006.”
Source: NuWireInvestor.com

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NABOR report indicates homebuyers are getting off of the fence

The first quarter of 2009 ended on a high note in the local real estate market, according to the latest report from the Naples Area Board of Realtors, which tracks home listings and sales within Collier County, excluding Marco Island.

NABOR agents are reporting significant increases in the number of buyers looking at residential property, indicating that realistic pricing adjustments have spurred buyers to get off the fence.

The first quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

Overall home sales for properties under $300,000 saw a 113 percent increase, with 964 sales in the first quarter of 2009 compared to 452 in the first quarter of 2008. Single-family homes sales under $300,000 increased 242 percent with 510 in the first quarter of 2009 compared to 149 in the first quarter of 2008.

The overall median closed price decreased 36 percent to $237,000 for the 12 months ending March 2009 from $370,000 for the 12 month ending March 2008.

Statistics for March 2009 also showed large increases in sales. According to NABOR, over the last 12 months, home sales increased 30 percent, and the inventory in the under $300,000 single-family home market has a current 14 month supply, down from 45.6 months of inventory in March 2008.

"There is a narrow window for qualified buyers looking for homes under $300,000," says Mike Hughes, vice president of Downing Frye Realty.

Referring to an HGTV online real estate listing service that recently named Naples the No. 2 bargain homebuyer market, Bill Coffey, branch manager of Coldwell Banker Residential Real Estate, says, "Our statistics attest that statement." Source: floridaweekly.com

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Existing home sales hits five-year high

Sales of existing single-family homes in March were the highest recorded for a single month in the past five years, according to a report by the Realtor Association of Greater Fort Myers and the Beach, Inc.

In March, there were 1,326 existing single-family homes sold in Lee County, compared to 577 in March 2008, an increase of 130 percent. Pending sales are also up 84.2 percent year to year, with 2,019 single-family homes pending versus 1,096 a year ago.

The number of single-family homes listed on the MLS continued to decrease. At the end of March there were 9,666 active listings for existing single-family residential properties compared to 11,372 a year ago, a decline of 12.3 percent.

However, the median price is still contracting due to the influence of bankowned and short sale properties. During the first quarter of 2009, foreclosures represented 67 percent of the single-family properties sold at a median price of $70,857; short-sale properties represented 14 percent of total sales with a median price of $119,908 and traditional properties represented 19 percent of total sales with a median price of $190,000.

"No one can argue that bank-owned properties are affecting our median price; however, buyers need to realize that our market is extremely competitive and very fast paced", said Suzanne Sherer, president of the Realtor Association of Greater Fort Myers and the Beach, Inc. "Today's buyers should have their financing lined up and make their best offer, as most properties are receiving multiple offers and the competition may very well be a cash buyer."

In Collier County, overall home sales for properties under $300,000 saw a 113 percent increase, with 964 sales in the first quarter of 2009 compared to 452 in the first quarter of 2008, according to the latest report from the Naples Area Board of Realtors, which tracks home listings and sales within Collier County, excluding Marco Island. Single-family homes sales under $300,000 increased 242 percent.

The overall median closed price decreased 36 percent to $237,000 for the 12 months ending March 2009 from $370,000 for the 12 month months ending March 2008.

Statistics for March 2009 also showed large increases in sales. According to NABOR, over the last 12 months, home sales increased 30 percent, and the inventory in the under $300,000 single-family home market has a current 14 month supply, down from 45.6 months of inventory in March 2008. Source: floridaweekly.com

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