Successful Future for Cape Coral, FL!

Posted in Bob Ashworth, Bob Ashworth Realtor, Business Growth, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Real Estate Advice, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate

Cape_Coral_Florida

Economic directors see great futures for Lee, Cape

Cape Coral FL map

Click to enlarge map.

The vision for Cape Coral in 2035 is not the same as it was in 1978. Instead of being a bedroom community, it is seen as a bustling city with a thriving economy and a huge corporate presence.

Dana Brunett and Rick Michael, economic directors of Cape Coral and Lee County, respectively, spoke to builders at the monthly Cape Coral Construction Industry Association (CCCIA) meeting Friday to give them their vision of what they expect the area to become in the coming years.

That means attracting businesses that generate real income, and they agreed that success in Lee County means success in Cape Coral and vice versa.

Brunett said the difference in from six years ago to now is night and day. The days of abandoned homes have become days where worldwide television audiences are seeing what the city has become.

“We’re back on the top 10 lists of best cities to live and work in. We’ve turned the corner,” Brunett said. “The best way to grow is to find out who does it best and do it better.”

Brunett anticipates tremendous growth along the Pine Island Road corridor, which is still in need of utilities and where Sam’s Club and a Wal-Mart neighborhood store will soon be coming, and near the VA hospital and the just-opened National Guard Armory to the north where there are 425 acres waiting to be developed.

“It’s exciting to see how things have changed in the last 2 1/2 years. We’ve gone from ‘I hope’ to ‘It is,'” Brunett said. “We’re looking to recruit businesses and create space for them.”

Michael’s view was the same as Brunett’s, only on a more regional and futuristic level. And he wants to leverage the resources of talent and skill.

By 2035, Lee County is expected to have 1.2 million people, nearly double what is has now, Michael said. That means 300,000 more vehicles and between 200,000 and 250,000 jobs.

Cape Coral is anticipated to have roughly 112,000 more jobs.

“We have 30 Publix in Lee County that employ 5,000 people. We expect 20 more by 2035,” Michael said. “We have 27 Wal-Marts in Lee County now. We expect another 21 to 23 in 20 years.”

However, minimum wage jobs aren’t exactly what either is looking for.

“We want levels in the $80,000 and $90,000 range; larger homes and more spendable income,” Michael said. “We want business to generate business air traffic and more flights out of Fort Myers International Airport.”

In the immediate future, Lee County has already secured Hertz. Michael said, and is seeking to have two more corporate relocations in the fall.

For the Cape, a five-minute video was made on the virtues of making the city a great place to work, live and play. Three businesses have made the move, Brunett said, allowing the video to pay for itself.

“The question I had is how this translates into what kind of transition we can expect in the Northwest Cape,” said Stephen Tate of Interface Financial Group, who lives in the sparsely populated area. “We don’t have the infrastructure up there, and yet it has the most space for businesses to come to.”

Former councilman and CCCIA member Marty McClain said the county has an edge on the city in luring businesses and that the city and Brunett have to decide what he wants in the city.

“Lee County has a few more tools to work with regarding impact fees and other incentives. I think Cape Coral is trying to work with that,” McClain said. “I think we’re going to look at the projects and prioritize what we want to bring in. Dana has done a great job here.”

Click here to view the original article.

Cape Coral living

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

Bob Ashworth

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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Happy 4th of July!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Fort Myers News, Fort Myers Real Estate, Happy 4th of July, Real Estate Market, Real Estate News, Realtor

2014 4th of July

Wishing You All The Best From Our Family to Yours!

Wishing you and yours a safe, happy and fun 4th of July! May your day be filled with laughter, love, family, good food, good friends and happy times! Stay cool and enjoy the fireworks!

Our goal is to always be your #1 Real Estate Solutions Provider in Southwest Florida and beyond! Thank you for allowing us to serve you over the years. We appreciate your preference and your friendship!

All the best to you,

Bob Ashworth Remax Realty Team

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Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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Florida News – Disaster Ratings Report

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Housing Market Update, Real Estate Market, Real Estate News, Realtor, SWFL Home Selling Advice, SWFL Market News, SWFL News, SWFL Real Estate

Disaster Map

As always, I’m happy to share useful and valuable information to my blog readers about the Real Estate Market and our SWFL area. Today I would like to share this information about the Natural Disaster Housing Risk Report by RealtyTrac that recently came out. Fortunately for those of us living here in Southwest Florida we haven’t had a serious hurricane in a long while but it’s good to know where we stand on the Disaster Risk Ratings Map. We are currently in Hurricane season so it is advised to stock up and be prepared, just in case. Stay tuned to our blog for more information about Hurricane Preparedness, coming soon!

Hurricane WarningRealtyTrac releases first-ever disaster ratings

IRVINE, Calif. – June 18, 2014 – RealtyTrac released its first-ever Natural Disaster Housing Risk Report, which assigns a natural disaster risk score to more than 3,000 county housing markets nationwide.

Scores assigned to each county’s housing market were based on risk data for three natural disaster events – hurricanes, tornados and earthquakes – and each county was assigned to one of five risk categories based on their score: Very High, High, Medium, Low, and Very Low.

Of the 3,138 U.S. counties analyzed in the report, 373 were classified as Very High Risk, representing 12 percent of all counties. The total number of housing units in those counties was 10.6 million, 8 percent of total U.S. housing units.

However, Florida – which has a reputation for hurricanes – had no counties in the Very High Risk category. Most of the state, and almost the entire coastline, is Medium Risk. While hurricanes do sometimes target Florida six months out of the year, the state faces largely only one type of natural disaster.

One exception to the rule is upper Central Florida, which has occasional tornadoes. Those counties fall into the High Risk category, along with coastal areas around Cape Coral and Pensacola.

Nationally, 271 counties fell into the Very Low Risk category with 3 percent of total U.S. housing units.

The biggest percentage of counties and housing units fell into the High Risk Category: 1,118 counties representing 47 percent of total U.S. housing units. There were 511 counties in the Medium Risk category, 23 percent of the total; and 865 counties in the Low Risk category, representing 19 percent of the total.

“In the past natural disaster data was technically available, but difficult for buyers and homeowners to dig up; however, now the data is readily available online for virtually any U.S. property, and buyers should take advantage of this,” says Daren Blomquist, vice president at RealtyTrac.

RealtyTrac Disaster report

To view a heat map that breaks down county disaster risk, visit the RealtyTrac website.

© 2014 Florida Realtors® Click here to view original article.

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We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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Get Expert Help Finding Your Perfect Lot!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home, Buying a Home in SWFL, Buying Tips, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Fort Myers News, Fort Myers Real Estate, Homes for Sale SWFL, Housing Market Update, New Home Construction, Real Estate Advice, Real Estate Market, Real Estate News, Realtor, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate

New Home Construction SWFL

As a Florida Real Estate Agent I always strive to go above and beyond to help my clients in all their real estate needs. Part of what I offer is assistance with buyers that are looking to purchase a lot to build upon. Being a long time resident of Southwest Florida has helped me create good connections with the best, quality home builders in the area. I also am very familiar with the area, roads, schools and shopping locations to help buying find just the right piece of land that meets all of their personal needs and requirements. If you’re looking to purchase a lot to build on, please give me a call at 239-425-2503 and let’s talk about how I can help!

SWFL Lots for SaleBuilders’ bonus: Weak competition from ‘newer’ homes

WASHINGTON – May 27, 2014 – A burst of new-home sales during the previous housing boom stirred up competition among U.S. home builders. After the bubble burst, there was a surplus of fairly new resale homes, which exacerbated builders’ problems: They not only faced lower buyer demand thanks to the recession, but still-interested buyers could get an almost-new home at a bargain foreclosure price.

These nearly new homes boasted modern design, landscaping and interior upgrades, low maintenance requirements, and lower prices – factors that posed formidable competitive challenges for builders.

Now, however, the new home market appears to be swinging in the opposite direction. Almost-new homes – one that would have been built during the height of the recession – are in short supply.

Buyers longing for new homes now must rely on builders since fewer enter the resale market.

The change, in some areas, has put home builders back in the driver’s seat in satisfying new buyer demand.

Source: Forbes (05/22/14) Tobey, John S.

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

Bob Ashworth Realtor SWFL

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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www.BobAshworth.com
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Good News for FL Homeowners Underwater

Posted in Bob Ashworth Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Home Tips, Mortgage Changes, Mortgage News, Real Estate Market, Real Estate News, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate, Underwater Mortgage

Mortgage Underwater Assistance FL

Florida reopens program for underwater homeowners

TALLAHASSEE, Fla. (AP) – May 14, 2014 – Florida housing officials are reopening a program intended to help homeowners who owe far more on mortgages than their houses are worth.

The Florida Housing Finance Corporation announced this week that the online application for the Florida Hardest-Hit Fund Principal Reduction program (HHF) will re-open on Thursday beginning at 9:00 a.m.

Last year the program accepted 25,000 applications but only extended aid to more than 2,400 homeowners. Nearly $102 million out of an available $350 million has been spent.

Florida homeowners who have remained current on their mortgages but missed out on the opportunity to apply for the program last fall will be allowed to apply. Homeowners could get a break up to $50,000 if they qualify.

First-mortgage eligibility requirements

• Legal Florida and U.S. resident who lives in the home
• Current on the monthly mortgage payment or 60-plus days late on a first mortgage within the past 24 months
• Property purchased prior to Jan. 1, 2010
• Unpaid principal balance up to $350,000
• Loan-to-value ratio greater than 125%
• Total household income less than 140% of the area median income (AMI) as provided by HUD.

Mortgage Answers

The online application will be available at the official Florida HHF Principal Reduction website. Click here to view original article. 

SWFL Real Estate

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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www.BobAshworth.com
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2014 – The Year to Buy!

Posted in Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Questions, Buying Tips, Cape Coral, Cape Coral Real Estate, Cape Coral Real Estate Market, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Fort Myers Real Estate, Home Tips, Housing Market Update, Lee County Homes, Real Estate Advice, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Homes for Sale, SWFL Housing Update, SWFL Market News, SWFL Real Estate

Home Buying Tips

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. Today I would like to share this article on why 2014 is the year for you to purchase a home in Southwest Florida if you haven’t already!

Why 2014 is a good year to buy a home

If you didn’t buy a home in 2013, you may be kicking yourself now. Home prices climbed nationally an average of 13.6 percent in the past 12 months, according to Tuesday’s release of the Standard & Poor’s/Case-Shiller 20-city home price index.

Don’t make the same mistake in 2014, suggests Benjamin Weinstock, real estate attorney and partner at the firm Ruskin Moscou Faltischek in Uniondale, N.Y.

Market forecasters predict that 2014 will be another year of gains for the real estate market, even though the rapid pace of sales in 2013 cooled off a bit at the end of the year. On Dec. 30, The National Association of Realtors said its pending home sales index, based on contracts signed last month, rose 0.2 percent in November, below the 1 percent rise forecast.

Home prices are expected to rise about 5 percent next year, says Weinstock. Higher mortgage rates will dampen the pace of both sales and price gains, but not bring them to a halt. The average rate on a 30-year fixed mortgage is expected to rise from 4.5 percent to 5 percent in the next year.

Even aside from expected price gains, buying a home is almost always a good investment in the long run, says Weinstock. Tax benefits are not to be overlooked.

“When one rents, at the end of the year he or she has a pile of 12 cancelled rent checks,” Weinstock says. “However, the homeowner has a pile of 12 cancelled mortgage checks that are nearly fully tax-deductible in most cases.”

Editor’s note: If you’re shopping, you may want to keep your eye out for the latest design trends in homes for 2014 while you’re at it. Click here to view original article.

Bob Ashworth

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
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New Apartment Complex Coming to Lee County!

Posted in Bob Ashworth, Bob Ashworth Realtor, Florida Real Estate, Florida Real Estate News, Fort Myers News, Lee County Homes, SWFL Market News, SWFL Real Estate

Pine Ridge Road

New apartment complex coming to Lee, market heats up

Firm to break ground on first high-end complex in Lee in eight years.

News-PressIn a few weeks Joe Bonora will break ground on something not seen in more than eight years in Lee County: a new high-end apartment complex.

Construction on similar projects came to a screeching halt in 2005 as real estate prices spiraled down, unemployment soared and lenders turned skittish.

“I think overall there’s certainly a need in the marketplace,” said Bonora, managing director of Tampa-based Aileron Capital Management, which is building the 325-unit complex.

That’s borne out by the numbers, said Theron Patrick, data analyst at Carrollton, Texas-based ALN Apartment Data, which tracks the sector nationally.

He noted that in the Fort Myers/Naples area, apartment complex occupancy was running at 95.1 percent – the highest in Florida and second only to Corpus Christi, Texas, among the 23 markets on which ALN compiles detailed statistics.

Gary Tasman, executive director of the Naples/Fort Myers-based Cushman & Wakefield Commercial, said the rental market is tight because the recession hit here so hard.

“A lot of people were displaced homeowners in the downturn,” he said. “They have a need if not a desire to rent now but they want to rent a state-of-the-art, comfortable, up-to-date home with as much similarity to their house as possible.”

The 30-acre site on Pine Ridge Road just off McGregor Boulevard in south Fort Myers has the added advantage that it originally was a condominium project, Palazzo Del Sol, that never got off the ground but still has its paperwork in order, Bonora said.

“That saves us a good amount of time and money,” he said. “It takes a lot of risk off the table. We didn’t have to go in and amend the site plan.”

Denny Grimes of Denny Grimes & Co. at Royal Shell Real Estate said he expects it to be a seller’s market for the owner of a shiny new complex.

“I think it’s a lack of availability,” Grimes said, noting that in the area near where the complex will be built “there’s nothing for sale. The alternative is to rent.”

Also, he said, the new project will be attractive to tenants in older, less attractive complexes. “Current renters will be moving toward the newer, polished projects.”

Nationally, a similar trend is emerging as the economy slowly recovers, real estate prices rise and the glut of vacant single-family homes is absorbed, Patrick said.

“We’re seeing it in almost all our markets except maybe Cleveland and Detroit,” he said. “There have been strong employment gains, but income gains have not kept up with employment gains.”

That means there are more people working and able to rent an apartment but not making enough money to buy a house, Patrick said.

Some markets such as Houston and Orlando have been seeing multi-family construction on the rise for two years while “other markets are just starting to get warmed up, he said.

Bonora said his project will be designed to shine compared to its older competitors. “We’ll have Mediterranean architecture, a barrel-type roof, nice, high-end finishes, a resort style pool, a clubhouse, full fitness center and a dog walk park.

He’s also looking into installing technology that can let someone, for example, “control the lighting from the iPhone.”

Bonora, who grew up in Cape Coral, said he’s keenly aware of the importance of timing because of this area’s volatile real estate market.

“This is Southwest Florida,” he said.

“Nothing happens gradually.”

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

SWFL Real Estate

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like me on Facebook    Follow me on Twitter    View my profile on LinkedIn    Visit my blog

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
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Things are Looking Up!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Fort Myers Real Estate, Homes for Sale SWFL, Housing Market Update, Real Estate Market, Real Estate News, Realtor, SWFL Home Sales, SWFL Homes for Sale, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate

SWFL Real Estate Trends

Fla.’s housing market trending up in June 2013

Florida’s housing market continued to show increased strength in June, including more closed sales of single-family homes, more new listings, rising median prices and a reduced inventory of homes for sale, according to the latest housing data released by Florida Realtors®.

SWFL Home Sales“It’s encouraging to see median prices continuing to recover in areas across the state,” says 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “Strong buyer demand, along with the tight supply of for-sale homes, is putting upward pressure on prices. June marks the 18th consecutive month that we’ve seen the statewide single-family home median sales price increase year-over-year.

“On average, sellers received about 94 percent of their asking price in June. Interested home sellers are paying attention to this positive trend. Statewide, new listings for single-family homes increased 10.8 percent in June, while new townhome-condo listings rose 4.7 percent.”

Statewide closed sales of existing single-family homes totaled 20,403 in June, up 8.6 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

2013 Florida Housing MarketMeanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 23.1 percent over the previous June. The statewide median sales price for single-family existing homes last month was $175,000, up 15.1 percent from the previous year.

According to the National Association of Realtors (NAR), the national median sales price for existing single-family homes in June 2013 was $214,700, up 13.2 percent from the previous year. In California, the statewide median sales price for single-family existing homes in June was $428,510; in Massachusetts, it was $350,050; in Maryland, it was $284,841; and in New York, it was $242,475.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties downwardly distort the median price because they generally sell at a discount relative to traditional homes.

SWFL Homes for SaleLooking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 9,136 units sold statewide last month, slightly less than the June 2012 level (down 2.5 percent). Meanwhile, pending sales for townhouse-condos last month increased 14.2 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $130,000, up 18.2 percent over the previous year. NAR reported that the national median existing condo price in June 2013 was $210,200.

The inventory for single-family homes stood at a 5-months’ supply in June; inventory for townhouse-condos was at a 5.2-months’ supply, according to Florida Realtors.

“The rest of the country is finally catching on to the fact that Florida’s real estate market is growing significantly,” says Florida Realtors Chief Economist Dr. John Tuccillo. “For the past two years, we’ve been up year-over-year in closed sales. The significant part of this month’s numbers is the growth in new listings, suggesting that the inventory crunch will ease in the second half of this year.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.07 percent in June 2013, up from the 3.68 percent average recorded during the same month a year earlier.

Click here to view original article.

SWFL Realtor Bob Ashworth

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

SWFL Real Estate

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like me on Facebook    Follow me on Twitter    View my profile on LinkedIn    Visit my blog

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
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Cape Coral Makes House Hot Spot List!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Fort Myers Real Estate, Housing Hot Spot, Lee County Homes, Real Estate Market, Real Estate News, SWFL Home Sales, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate

Housing Hot Spot

Housing recovery radar: Where are the next hot spots?

CNBC The housing recovery is starting to heat up—so much so in some areas, the “b” word—bubble—is starting to pop up.

“Nationwide, the housing market is not in a bubble. But there are probably some markets that are at risk for getting into bubble territory if they continue at the pace that they’re going,” said Daren Blomquist, vice president at RealtyTrac.

In a recent report from Realtor.com, the towns seeing the hottest recoveries, based on factors such as inventory, median list price, days on the market and search activity, were primarily on the West Coast, with six of the top 10 in California. Six months ago, eight of the top 10 were in Florida. So, is the recovery, like the settlement of the U.S., moving east to west?

Rising Market SWFLActually, there are some methods to the recovery madness—but geography isn’t one of them.

The pros estimate the housing recovery started just over a year ago. Those early buyers? It was a lot of foreign investors buying up real estate in Sun Belt areas like Miami and Phoenix.

“There were stories in 2012 of people being outbid for homes—individual homeowners getting outbid by all-cash buyers,” said Steve Berkowitz, CEO of Move Inc., the parent of Realtor.com.

Blomquist said buying activity really started to pick up in mid-2012 after Warren Buffett said on CNBC that he would buy up “a couple hundred thousand” single-family homes and rent them out if he had the logistical ability to manage the properties.

“That was really when there was a paradigm shift in the market,” Blomquist said. “We started to see these institutional investors jump in and buy single family homes.”

“Investors really were the leading edge, the front line of this real-estate recovery,” Blomquist said. “They’re willing to stomach more risk.” And that, in turn, helped trickle down to the average homeowner as it helped boost prices and get a lot of homes back above water.

Cash PurchaseHe estimates that roughly 10 to 20 percent of investors buying real estate today are foreign investors—mostly from Canada, Mexico, China and, in places like Miami—South America. He’s also heard of a lot of investors from Russia and other eastern European countries in the New York market.

One common denominator is that many of the markets with big price increases had been among the hardest hit when the housing bubble burst.

CNBC.com’s Cindy Perman talks with RealtyTrac’s Daren Blomquist about new signs that the housing recovery is starting to heat up, so much so that some experts are even beginning to say “bubble” again.

According to the latest data from RealyTrac, the markets with the biggest recent pickups are Honolulu; Flint, Mich.; and Albany, N.Y.

Another factor has helped speed the recovery in some markets more than others: how the foreclosure process is handled. Markets like California, Nevada, Arizona and Georgia have seen their recoveries take off because they allow what’s called a nonjudicial foreclosure process, which tends to be quicker than the courts.

“Those markets have worked through the foreclosure problem more quickly than other markets,” Blomquist said. “What that means is that they don’t have that lingering distress … that drags on home prices.”

The recovery in California and other parts of the West Coast has largely been driven by the tech economy, Berkowitz said.

So much so, that the recovery in some markets may be getting close to its peak.

In San Jose, for example, prices are 70 percent off their bottom already, Blomquist said. San Francisco is 96 percent off its bottom.

“I think many of the California markets, especially San Jose and San Francisco, are getting back to that bubble level,” Blomquist said. “Some markets are close to plateauing in terms of home prices but scaling back the pace of recovery to single-digit growth, which going forward is much more healthy.”

So, where are the next hot spots?

Florida Real EstateBelieve it or not, while many parts of Florida have already seen double-digit growth, pros say there’s more room to run in Florida.

In Tampa, for example, prices are 38 percent off the bottom, Blomquist said, but they’re still 44 percent below their peak in August 2006.

By contrast, prices in San Jose and San Francisco are 12 percent and 22 percent below their peaks, he said.

Miami, Orlando and Fort Myers-Cape Coral are nearly 50 percent off their peaks.

The pros were encouraged by the recovery in Detroit, which made Realtor.com’s latest list of the hottest recoveries, but they weren’t willing to bet on it as a continued hot spot. The reason? It’s a lot safer to bet on sunshine and ocean than on a bankrupt city dependent on jobs to drive housing demand.

One area Blomquist is willing to bet on is Chicago, where prices are 32 percent below their peak.

He’s also hearing a lot of buzz about parts of Maryland and the Carolinas. Some specific cities he’s hearing interest in are: Salt Lake City and Ogden, Utah; Atlanta; Charlotte, N.C.; Indianapolis; Minneapolis; Nashville and Memphis, Tenn.; Dallas and Houston.

One surprise he didn’t expect in the recovery is the demand from large institutional investors.

“All of a sudden, you had hedge-fund types interested in single-family real estate!” he said. “That’s helped give a power boost to this recovery that was unexpected.”

Home Sales SWFLAnd, while homeowners have benefited from this influx of investor money as it’s driven their property values higher, there’s one important player who has yet to join in this recovery: the move-up buyer. That’s the couple who gets a starter home, builds some equity and then trades up to a more expensive home.

“We’re seeing a market that is very dependent on investors right now,” Blomquist said. “In the long-term for sustainability, we need those move-up buyers to start purchasing again.”

And, if you’re wondering why some big Northeastern states like New York, New Jersey and Pennsylvania aren’t on the list, you can sum it up in one word: courts. All of those states have a judicial foreclosure process. As a result, the pros are keeping their eyes on these markets.

You may not be able to find a geographic pattern in where the recovery will heat up next, but what the pros are seeing now is a lot of West Coast markets getting close to peak and a lot of East Coast markets, from New York to Florida, with more room to run.

Housing recovery hot spots

Here are states/cities where real estate pros say could be the next hot spots where the housing recovery heats up. While these markets have seen some recovery, they’re still down significantly from their peak. (See map above)

STATES – New York, New Jersey, Pennsylvania, Maryland, North Carolina, South Carolina, Florida

CITIES

  • Wilmington, Del.
  • Tampa, Fla.
  • Miami
  • Cape Coral-Ft Myers, Fla.
  • Orlando, Fla.
  • Chicago
  • Indianapolis
  • Minneapolis
  • Charlotte, N.C.
  • Newark, N.J.
  • Trenton, N.J.
  • Philadelphia
  • Reading, Pa.
  • Nashville, Tenn.
  • Memphis, Tenn.
  • Dallas
  • Houston
  • Ogden, Utah

Cape Coral SWFL Housing Hot Spot

Sources: Realtor.com, RealtyTrac – click here to view original article. 

SWFL Real Estate News

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

Bob Ashworth Realtor SWFL

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like me on Facebook    Follow me on Twitter    View my profile on LinkedIn    Visit my blog 

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog  Find us on Yelp

Positive Trends for Florida Market Continue!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Fort Myers Real Estate, Housing Market Update, Lee County Homes, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Home Sales, SWFL Homes for Sale, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate, SWFL Real Estate Investing

2013 Florida Housing Market Update

Florida’s housing market continues positive trends in 2Q 2013

Home Sales 2013 Cape CoralFlorida’s housing market gained strength in second quarter 2013 with more closed sales, higher median prices, more pending sales and a shrinking supply of homes for sale compared to the same quarter in 2012, according to the latest housing data released by Florida Realtors®.

“Data from the second quarter of 2013 shows that Florida’s housing market is continuing to improve and the growth is boosting the state’s economic recovery,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “We are experiencing an extended run of year-over-year gains in existing home sales (18 months as of June) and Realtors across the state are reporting increased activity in their markets. At 7.1 percent, Florida currently has a lower unemployment rate than the nation. As more jobs are created, it’s providing a stable foundation for future growth in the state’s housing market.”

Statewide closed sales of existing single-family homes totaled 63,173 in 2Q 2013, up 14.7 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

Investment StrategiesMeanwhile, pending sales – contracts signed but not yet completed or closed – for existing single-family homes rose 28.5 percent in the second quarter compared to the 2Q 2012 figure. The statewide median sales price for single-family existing homes in 2Q 2013 was $170,000, up 14.1 percent from the same quarter a year ago.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 31,829 units sold statewide in the second quarter, up 7.9 percent from the same three-month period in 2012. Pending sales for townhouse-condos in 2Q 2013 increased 18.8 percent compared to a year ago, while the statewide median for townhouse-condo properties was $129,000, up 16.7 percent over the same quarter last year.

In 2Q 2013, the median days on market (the midpoint of the number of days it took for a property to sell that month) was 51 days for single-family homes and 57 days for townhouse-condo properties.

The inventory for single-family homes stood at a 5-months’ supply for the second quarter; inventory for townhouse-condos was at a 5.2-months’ supply for the same period, according to Florida Realtors.

Housing Recovery 2013Florida Realtors Chief Economist Dr. John Tuccillo said, “For those who have been following the Florida real estate market, there’s not much new in these numbers. The market continues its gradual improvement and return to stability. While investors have been the major driving force in the market, we are beginning to see more owner-occupants enter the market. This is an encouraging sign.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.69 percent for 2Q 2013, down from the previous year’s average of 3.80 percent, according to Freddie Mac.

To see the full statewide housing activity reports, go to Florida Realtors Media Center and look under Latest Releases, or download the 2Q 2013 data report PDFs under Market Data.

Click here to view original article.

SWFL Real Estate News

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

Bob Ashworth Realtor SWFL

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like me on Facebook    Follow me on Twitter    View my profile on LinkedIn    Visit my blog

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog  Find us on Yelp

Review us on Yelp