How to Save Thousands When Selling Your Home

http://www.msn.com/en-us/money/realestate/how-to-save-thousands-when-selling-your-home/ar-AAifDLR#page=1

Commissions are the easiest way to save money in a real estate deal however please be aware that it is a double edged sword.  The Realtor typically will cut corners in other ways such as not hiring a professional photographer so you have to be cautious with how you handle the situations.  I typically will not lower a commissions unless it is a repeat customer.  Be loyal and thats when you can really save. 

Understand how fees work
Just ask (ask Realtor to reduce fee)
Shop around (interview multiple realtors)
Be respectful
Be realistic
Do your homework
Be creative
Be prepared to give  

The real cost of owning a home

http://www.msn.com/en-us/money/realestate/the-real-cost-of-owning-a-home/ar-AAigAYX

Overall owning a home is a great investment yet also a big responsibility.  There are a lot of factors and expenses to keep in mind about what is best for you.

Costs of Owning a home:
Taxes
Insurance
PMI
Closing Costs (3-5% of purchase price)
HOA dues
Maintenance and repairs (1% to 2% of home’s value annually)
Emergency repairs and upgrades

When to rent and when to own
Reasons to continue renting can include:

Mobility
Flexibility
Uncertainty

However, good reasons to buy might be:
Tax deduction
A historic opportunity with low mortgage rates
Help entering the market: don't need 20% down
Price appreciation

Indigo Lakes! Just Listed

http://matrix.swflamls.com/matrix/shared/LzC2r1HMjG/14912IndigoLakesDrive

Don't miss this great opportunity to purchase a 4 bedroom plus den pool home in the highly desirable gated Indigo Lakes. This home features crown molding, fenced-in back yard, plantation shutters, beautiful Tigerwood hardwood floors, stainless appliances, granite countertops, tiled backsplash, & electric storm shutters on lanai. The open floor plan with split bedrooms is ideal for entertaining, and a pool bath is conveniently located off the guest rooms. Indigo Lakes has incredibly low HOA dues and amenities include a clubhouse, gym, community pool and play area all centrally located to Downtown Naples, Mercato, shopping, dining, beaches, I75 and the airport.

Price ONLY 479,900!
Open House 9/4, 12-3 pm

Call Kendra Hoefs for more details, 239-770-3345

The Best Steakhouse in Every State (and D.C.)

http://www.msn.com/en-us/foodanddrink/restaurantsandnews/the-best-steakhouse-in-every-state-and-dc/ss-BBvuaic?li=BBnb7Kz#image=10

I love steak! I have only heard rumors about how great Bern's is in Tampa.  If you are in Naples I would encourage you to check out The Grill at the Ritz, the bone in filet which isn't on the menu is my favorite!


FLORIDA: BERN’S, TAMPA

Don’t come to Bern’s if you're on a diet; Bern's is about wonderful excess. There are 20 kinds of caviar on the menu of this big, old-style, legendary establishment. The menu also includes two preparations of foie gras, two kinds of steak tartare (one with truffles), oysters three ways, endless varieties of fish and shellfish, 16 different cheeses both domestic and imported, nearly 50 desserts (including gluten- and sugar-free varieties) — served upstairs in a special dessert room — and a list of about 7,000 wines (5,500 of them red). Oh, and did we mention steaks? There are seven different cuts in a total of 51 different sizes (from 6 ounces of filet mignon to 60 ounces of strip sirloin), broiled to eight different temperatures, from very rare ("no crust, cold and raw") to, gulp, well-done ("sturdy little crust, no color, no juice, dried out"). Come hungry.

Mapping where U.S. millennials live at home

http://www.msn.com/en-us/money/realestate/mapping-where-us-millennials-live-at-home/ar-BBw5VlM

It makes sense that these states have the most Millenials living at home since they are the more expensive places to live. The articles reasoning is interesting, see below!

Most
New Jersey 43.9 percent
Connecticut 38.8 percent
New York 37.4 percent
Florida 37.2 percent
California 36.7 percent

Least
North Dakota 15.6 percent
Wyoming 18.7 percent,
South Dakota 19.7 percent
Nebraska and Iowa are tied with 20.7 percent

It’s not that millennials don’t want to own their own homes, many just don’t think they can afford it, with economic realities suggesting they’ll need to save for an entire decade just to afford the down payment on a home.

10 Things You Never Knew About America's Most Famous Home

http://www.msn.com/en-us/lifestyle/home-and-garden/10-things-you-never-knew-about-americas-most-famous-home/ss-BBvZFBX?li=BBnbcA0#image=2

I love random interesting facts about our country and the history! Here are a few about the White House!

1. IT WAS DESIGNED TO LOOK LIKE IRISH PARLIAMENT.
2. THERE ARE 147 WINDOWS.
1. There are also 412 doors, 28 fireplaces, eight staircases and three elevators.
3. THE WHITE HOUSE KITCHEN STAFF CAN SERVE DINNER FOR UP TO 140 GUESTS.
4. IT TAKES 570 GALLONS OF PAINT TO COVER THE EXTERIOR.
1. The exact shade is called "Whisper White," and it's made by Duron.
5. PRESIDENTS AREN'T AFRAID TO BREAK A SWEAT ON WHITE HOUSE GROUNDS.
6. JACKIE KENNEDY ESTABLISHED A COMMITTEE FOR ACQUIRING ANTIQUE FURNITURE IN THE '60S.
7. HILLARY CLINTON CREATED A MUSIC ROOM FOR BILL CLINTON AS A CHRISTMAS PRESENT.
8. THERE'S A SWIMMING POOL UNDER THE PRESS BRIEFING ROOM.
9. PRESIDENT BENJAMIN HARRISON WAS AFRAID OF THE LIGHT SWITCHES.
10. CAROLINE AND JOHN KENNEDY CRASHED THE OVAL OFFICE TO TRICK-OR-TREAT.

Restaurants, retail coming to new center on Vanderbilt Beach Road

http://www.naplesnews.com/story/news/columnists/tim-aten-in-the-know/2016/08/29/know-restaurants-retail-coming-new-center-vanderbilt-beach-road/89408128/

There is not much info on what commercial businesses will be occupying this new property but it is a much needed commercial area for Vanderbilt. 

Q.  What is being built on that strip of vacant land just east of Island Walk and west of Tuffy (Tire and Auto Service Center) on Vanderbilt Beach Road? After laying quiet for many years, there is now a lot of movement on that parcel of land.

A.  What you see being built is merely the beginning of what is planned by this time next year for Vanderbilt Commons, a new commercial development with restaurant, retail and medical space.

The first phase — a nearly 35,000-square-foot, one-story strip center — is targeted for completion in the first quarter of 2017. The second phase — a nearly 37,000-square-foot strip center that practically mirrors the first — is scheduled for completion in the third quarter of next year.

4 Common Real Estate Mistakes Retirees Make

http://news.morningstar.com/articlenet/article.aspx?id=766510

Retiring is a fantastic thing however you have to be cautious on how major real estate moves will impact you and your finances. It can be overwhelming to navigate these topics and it is easy to go down the wrong path. Here are a few mistakes people make:

Mistake 1: Thinking of Your Home as a Titanium Piggy Bank

Mistake 2: Using Real Estate as a Growth Vehicle

Mistake 3: Relocating In Retirement

Mistake 4: Not Understanding Your Options for Unlocking Home Equity

6 states with the biggest real estate bubbles

http://www.msn.com/en-us/money/realestate/6-states-with-the-biggest-real-estate-bubbles/ar-BBw4Mmc?li=BBnb7Kz#page=6

Well, we made this list, not sure its a good one however in Collier Co we have been seeing pending and closed sales down significantly. It has been pretty crazy in the past 2 years now that it is slowing down some people are worried - I just hope it is the market finally leveling off to normalcy.


5. Florida

Florida — along with California, Nevada and Arizona — comprise what’s called the “sand states,” all of which were deeply impacted by the housing bubble and crash. Recently, home prices have crept back up, thanks to hot housing markets. But some cities are showing signs of trouble.

“Florida has frequently been the site of real estate bubbles in history,” said Villa. “In recent years, a big part of Florida’s recovery was thanks to an influx of foreign investment in real estate.” Unfortunately, those streams of money are drying up, he said.

In Miami, the once-hot real estate market is exhibiting a cooling off, reported The Miami Herald in July. Citing data from a Miller Samuel Real Estate Appraisers & Consultants report, second-quarter 2016 saw a decrease in home sales, including condos and single-family homes. Also telling: There has been an increase in the number of active listings, and homes are sitting unsold on the market for much longer in Miami and Miami Beach.

And if speculation — or buying and flipping houses just for the money — is one of the signs of a real estate bubble, then Florida could have a problem. A number of Florida cities saw the biggest year-over-year increase in the share of flips, according to RealtyTrac, with the Miami metro area featuring the most homes flipped of any market in the nation in 2015.

Yellen says case for raising rates has strengthened in recent months

http://www.msn.com/en-us/money/markets/yellen-says-case-for-raising-rates-has-strengthened-in-recent-months/ar-BBw5JUW?li=BBnbfcN

I am surprised this has not happened yet but I guess I am not an economist!

In a much-anticipated speech Friday at the central bank's annual Jackson Hole summit, Fed Chair Janet Yellen voiced optimism about the economy and an expectation that interest rate hikes are ahead.

17 Simple Home Repairs and Upgrades That Will Save You Bundles of Money

http://www.msn.com/en-us/money/realestate/17-simple-home-repairs-and-upgrades-that-will-save-you-bundles-of-money/ar-BBw2K06?page=3#page=2

Being a homeowner does mean a lot of responsibility - its important to remember the small maintenance things that can prevent big ticket problems. I just changed my air filter yesterday!

Change HVAC filters
Fix leaky faucets
Caulk the tub and shower
Inspect the sump pump
Update light bulbs
Install a programmable thermostat
Inspect electrical outlets and cords
Replace smoke detector batteries
Fix running toilets
Wrap the water heater
Seal leaky doors and windows
Flush the hot water heater
Beef up attic insulation
Install weatherstripping
String a clothesline
Tour your home’s perimeter, twice
TLC for your siding

10 simple mistakes that could cost you your dream home

http://www.msn.com/en-us/money/realestate/10-simple-mistakes-that-could-cost-you-your-dream-home/ss-BBv89NA?li=BBnbfcN#image=1

There is a lot of competition in buying a home, these mistakes can make you miss out on a home.  Its always important to keep your emotions in check and to not sweat the little stuff.

YOU DON’T GET PREAPPROVED
YOU CONFUSE PREAPPROVAL WITH FINAL APPROVAL
YOU DON’T ACT FAST ENOUGH
YOU LOW-BALL
YOU DON’T CHARM THE SELLER
YOU DON’T GET THE WHOLE STORY
YOU USE AN INEXPERIENCED AGENT
YOU LOSE THE BIG PICTURE
YOU FIXATE ON ONE HOUSE
YOU DON’T KNOW THE ART OF NEGOTIATION

Top 5 things to do this weekend in Southwest Florida

http://www.naplesnews.com/story/entertainment/events/2016/08/25/southwest-florida-weekend-events/89252036/

Remember to pack your umbrella! We are going to get some rain and wind this weekend!

5. Join the festival

The Second Naples Sports Festival will be on its way this weekend at the Ritz-Carlton Golf Resort, 2600 Tiburon Drive, North Naples. The festival seeks to create the best atmosphere for athletes to showcase their hard work, but at the same time entertain and educate the fitness enthusiast. The festival takes off with the International Federation of Body Building Pro Bikini Athlete meeting at 3 p.m. on Friday. On Saturday join the judging contests, starting at 10 a.m. and the Power X & Team Deadlift Competition “Arnold Classic Qualifiers” on Sunday at 9:30 a.m. Admission prices run from $15 to $70, depending on the event. For a full list of events visit naplessportsfestival.com.

4. Enjoy a symphony concert

Say goodbye to summer with a classical music concert Friday at the Sidney & Berne Davis Art Center 2301 First St, Fort Myers. And say hello to the Southwest Florida Symphony’s 56th season. “All About Piano,” features teenage piano prodigy Noah Waddell. Hear exquisite piano compositions from Mozart, Hadyn, Finzi, Bloch, and Strauss. Concert starts at 8 p.m. General Admission starts at $30. 239-418-1500.

3. Catch ‘em all one last time

The Pokemon Go fever is fading away, but if you never had a chance of partying with Pokemon trainers this might be your last opportunity. The game that became a sensation this summer is finally saying goodbye to its popularity. Throughout the month of August the Collier County Museums hosted Pokemon Go Parties on its different locations. Saturday will be your last chance to attend one of these at the Immokalee Pioneer Museum, 1215 Roberts Ave., Immokalee. The parties are 10 a.m. to 2 p.m. and are the perfect place to take the kids so they can have some fun while still learning about their community’s history. The parties include other Pokemon themed activities and a scavenger hunt. Colliermuseums.com

2. Laugh out loud

With a completely improvised performance, the comedians at Square One Improv will listen to your suggestions and make you laugh all night. The show starts at 8 p.m. on Saturday at The Marco Players, Marco Town Center Mall, 1089 N., Collier Blvd., Marco Island. Comedians Scott Beatty, Dan Klein, Shaun Johnson and Gregory Sofranko will perform for the third time as part of the Summer Double Dip program. The performers take suggestions from the public to create their act, making every show a different experience. Tickets sold at the door by cash/check, $20 each, general seating. 239-642-7270. TheMarcoPlayers.com

1. Party by the book

The South County Regional Library in Estero is celebrating their 20th anniversary. Help them celebrate by joining them with many indoors and outdoors activities including music, balloons, book character appearances, yard games, refreshments and raffles. The event starts at 11 a.m. and it’s an all ages event that you can enjoy with your family or even use it to meet new people at the library. leegov.com

Collier, Lee rank high on list of risk for natural hazards

http://www.naplesnews.com/story/money/real-estate/2016/08/25/collier-lee-rank-high-list-risk-natural-hazards/89347082/

Well this is not super shocking! The possibilities for hurricanes and storm surges are very real as well see with the current storm in the Atlantic.  The article also mentions in these areas the growth and appreciation is not as prevalent however I don't think that really applies to Collier Co as much in the big picture. 

"Irvine, California-based ATTOM Data Solutions (formerly RealtyTrac) ranked Collier County 14th and Lee County 44th based on an index the company created from its neighborhood research portal, analyzing the risk of six natural hazards: earthquakes, floods, hail, hurricane storm surge, tornadoes and wildfires."

How a liquidity crisis could derail the housing market

http://www.msn.com/en-us/money/realestate/how-a-liquidity-crisis-could-derail-the-housing-market/ar-BBw0uIj


We do have a significant amount of legislation and monetary policy that is meant to keep the market going in the positive direction however sometimes too much can backfire.


Regulation is up, rates are down, and widening credit spreads suggest a lack of demand in the market on which mortgage lenders depend. Even as homes sales surge to nearly a nine-year high, Whalen said a combination of unnatural monetary policy and restrictive regulations could critically wound the mortgage market, at a time when central bankers are left with few levers to pull in order to sidestep a crisis.

"While many aspects of the 2010 Dodd-Frank legislation were well-considered and necessary, KBRA is concerned that the cumulative effect of monetary policy actions, and prudential and consumer regulations, may be creating the circumstances for a future liquidity crisis," the KBRA report said.

Millennials are tapping home equity for vacations and emergency cash

http://www.msn.com/en-us/money/realestate/millennials-are-tapping-home-equity-for-vacations-and-emergency-cash/ar-BBvZ6dB

Well this seems to not be a great thing....

The Discover report found that 51.3% of those homeowners between 30 and 34 (who have owned for three years of more) have taken a home-equity loan out against their home.

The most popular reasons the youngest group took the loans were vacations (43.3%) and emergency cash (41.8%), followed by home remodels (41.1%), medical expenses (36.2%) and weddings (31.2%). For the other age groups, debt consolidation and home remodels were the top responses.

“Home-equity loans should never be used for something like a vacation or other short-term wants,” wrote Ryan Fuchs, a financial planner with Ifrah Financial Services in Little Rock, Ark., in an email interview.

Why you're lucky you don't own a McMansion

http://www.msn.com/en-us/money/realestate/why-youre-lucky-you-dont-own-a-mcmansion/ar-BBw04OP?li=BBnb7Kz

Well I am not entirely in agreement, I still wish I owned a McMasion! But looks like I can pick one up at a discounted rate!

According to Bloomberg, Trulia looked at price appreciation of McMansion-sized homes — those with footprints of 3,000 to 5,000 square feet

McMansion resale values are in the gutter, with price premiums dropping more than 80% in some parts of the country.

“The additional cash that buyers should be willing to part with to get a McMansion fell in 85 of the 100 largest U.S. metropolitan areas,” Bloomberg said.

Sales of new homes race to nearly a 9-year high

http://www.msn.com/en-us/money/realestate/sales-of-new-homes-race-to-nearly-a-9-year-high/ar-BBvXy86

In Collier County there are so many new communities popping up that it is not surprising that overall new sales have gone up, I know the rest of the county is going through the same thing too.  There has been a lack of new home construction in the past few years so now we are playing catch up!

"The Commerce Department said on Tuesday new home sales surged 12.4 percent to a seasonally adjusted annual rate of 654,000 units last month, the highest level since October 2007."

15 Surprising Reasons Your Mortgage Loan Could Be Rejected

http://www.msn.com/en-us/money/realestate/15-surprising-reasons-your-mortgage-loan-could-be-rejected/ss-BBvKpcU#image=2

Some of these are pretty obvious however some of them were a bit surprising to me even. Lending has gotten strict in recent years and little things can easily railroad a deal.  It is good to speak with a lender and get them all the required info prior to offering on a home so you know you are in good shape before you send money and time. 

YOU HAVE TOO MANY CHANGES IN YOUR JOB HISTORY.
YOU RETIRED EARLY.
YOU HAVE BUSINESS DEBT.
YOU RECENTLY PURCHASED OR LEASED A NEW CAR.
YOU BORROWED YOUR DOWN PAYMENT.
YOUR CONDO IS UNWARRANTABLE AND NOT ON THE FHA-APPROVED CONDO LIST.
YOU AREN'T BORROWING ENOUGH MONEY.
YOU HAVE TOO MANY COMPANY WRITE-OFFS AS A SELF-EMPLOYED BORROWER.
YOU OPENED A NEW CREDIT CARD.
YOU CLOSED A CREDIT CARD.
YOU OWE CHILD SUPPORT OR ALIMONY.
YOU PAID OFF AN OLD DEBT THAT WENT TO COLLECTIONS.
THE HOMEOWNERS' ASSOCIATION IS NO GOOD.
THE HOME DOESN’T APPRAISE FOR THE BUYING PRICE.
INTEREST RATES CHANGE.

Before You Get a Reverse Mortgage, Check Out These 15 Alternatives

http://www.msn.com/en-us/money/realestate/before-you-get-a-reverse-mortgage-check-out-these-15-alternatives/ar-BBvXxLn

I have heard some horror stories about reverse mortgages - they seemed to have gotten revamped in recent years but you still have to be cautious. The article discusses in more depth pros and cons of the options presented.

A reverse mortgage lets you borrow based on the equity you have in your home. Instead of you paying the bank, the bank pays you, tax-free, with a series of payments that can include a partial lump sum of money, or through a line of credit. A few downsides are You can’t borrow against all of your equity, you have to wait for some funds, these loans are expensive, the borrower can lose the home, & your heirs may be unable to inherit the home.

Sell and downsize
Refinance
Home equity line of credit
Get a home equity loan
Sell the home to family or friends
Rent to vacationers
Take in a monthly renter
Apply for weatherization assistance
Apply for property tax relief
Tap insurance
Work
Take a 401(k) loan or distribution
Apply for Medicaid
Check VA benefits
Check the availability of other benefits https://www.benefitscheckup.org/about-us/

Why houses in America are getting smaller

http://www.msn.com/en-us/money/realestate/why-houses-in-america-are-getting-smaller/ar-BBvXG8r?li=BBnb4R7

The article mentions affordability, financing, desires to stay closer to city amenities, & millennials attitudes of being more cautious since they grew up during the last housing crash.

For the first time since the recession, home size is shrinking. Median single-family square floor area fell from the first to the second quarter of this year by 73 feet, according to the National Association of Home Builders and U.S. Census data.

The 8 Fastest Growing Housing Markets

http://realtormag.realtor.org/daily-news/2016/08/22/8-fastest-growing-housing-markets?om_rid=AADG2i&om_mid=_BXuz2jB9RYnOuk&om_ntype=RMODaily

Across the country we are seeing markets appreciate quickly.  I feel Collier Co was a bit early on this trend since this year pending and closed sales are slowing down and the market is leveling out.  Her are the fastest growing markets in the country!

This is the best time in history to invest in real estate

http://www.msn.com/en-us/money/realestate/this-is-the-best-time-in-history-to-invest-in-real-estate/ar-BBvUtts?li=BBnbfcN

I obviously support real estate investments however you have to be cautious about it especially with renovations and tenants.  Having the right people in place to make it go smoothly is imperative and remember if it seems to good to be true it might be.

• This is a healthy market, not a bubble
• Prices are increasing yet in a healthy non frenzied manner
• Foreclosures are at lowest level since 2000
• Innovation is lowering the barriers to entry
• Investor financing options are expanding 
• Creative sites with crowdfunding are popping up
• This is an answer to those seeking alternatives
• Great alternative to stocks and bonds

Mortgage applications fall 4% even as rates sit near record lows

http://www.msn.com/en-us/money/realestate/mortgage-applications-fall-4percent-even-as-rates-sit-near-record-lows/ar-BBvIIrM

Mortgage rates have been so low lately that it is not shocking we are not seeing gains.

Even with mortgage interest rates sitting near record lows, mortgage applications failed to make any gains last week.

Total application volume decreased 4 percent on a seasonally adjusted basis for the week from the previous week, according to the Mortgage Bankers Association.

Rent-to-Own Homes: A Win-Win for Landlords, a Risk for Struggling Tenants

http://www.msn.com/en-us/money/realestate/rent-to-own-homes-a-win-win-for-landlords-a-risk-for-struggling-tenants/ar-BBvThfR?li=BBnb7Kz

I get quite a few calls regarding rent to own or lease purchase.  Many times potential buyers do not understand how the contracts work and what is entailed.  This article shares a very unfortunate situation that is going on right now.  If it seems too good to be true it usually is....this specific company seems to prey on the vulnerable.

Samuel Rankin thought he was starting fresh when he and his two daughters moved out of a 1970s trailer home into a three-bedroom Vision rental home in Alexander, Ark. But he soon discovered that the house, located just outside Little Rock, had no heat, no water and major problems with its sewage system that led to nearly $10,000 in repairs.

This $195 million Florida compound is the most expensive home on the US market

http://www.businessinsider.com/195-million-florida-manalapan-compound-mansion-property-most-expensive-home-us-market-2016-8

This is amazing, there is even a tree house!  I think this would be a great resort! Click the link to view the short video of the property.

How to Successfully Make an Obscenely Low Offer on a House

http://www.msn.com/en-us/money/realestate/how-to-successfully-make-an-obscenely-low-offer-on-a-house/ar-BBvNaHj

Everyone always wants to get a deal on a property but low ball offers have to be presented with care as to not burn a bridge with the seller.  Remember to put yourself in the sellers position, I always open low ball offers with the statement "it is not where we start with the negotiation, it is where we end that matters" Usually that helps keep everyone open minded.

Do Your Research Before House Hunting - Know the seller, know the market, know the property
Use Cash When Buying a House
Work With a Realtor When You’re House Hunting
Use Rhetoric and Flattery
Give the Seller Reasons for Your Reduced Price
Be Reasonable With the Seller
Don’t Give Up on Buying a House

8 Sneaky Ways To Take Your New Place For A Test-Drive

http://www.msn.com/en-us/money/realestate/8-sneaky-ways-to-take-your-new-place-for-a-test-drive/ar-BBvLNh2

If you are new to a neighborhood or town these are a few good things to do prior to putting an offer in  so you can be more confident on your decision to offer on a home. 

Play the private-eye - do multiple drive by!
Head out on a walking tour
Test-drive the plumbing
Test the windows
Go into the light - go on a cloudy then a sunny day too
Listen up - listen for traffic
Scope out storage
Don’t forget your marbles - see if the floors are level

The 6 Stages of Flipping a Home

http://www.msn.com/en-us/money/realestate/the-6-stages-of-flipping-a-home/ar-BBvPbOS

As much as I love the flipping home shows they are not real life....many people think it is easy and they are going to make a lot of money.  You have to have vendors in place or do it yourself...here are a few things to keep in mind.

Finding a great deal on a property
The rush when a seller accepts your offer
The fear when your contractor tells you …
Deciding where to spend and where to save
Watching it all come together
Selling a house to excited buyers

How Much Would The White House Be Worth?

http://realtormag.realtor.org/daily-news/2016/08/19/how-much-would-white-house-be-worth?om_rid=AADG2i&om_mid=_BXt3peB9RYNQHB&om_ntype=RMODaily

It really boils down to what is included in the sale - I think 90m is too low....

18 acres of prime real estate in Washington, D.C.; 55,000 square feet of space; 132 rooms; 28 fireplaces; and more than 750 historic artifacts.

(original construction in 1792 cost $232,000, but the cost today would come at about $100 million). They also factored in how much comparable properties would sell (Donald Trump’s dubbed “White House of the South” in Mar-a-Lago Club in Palm Beach, Fla., is about the same size and has similar amenities is valued at nearly $100 million).

They’re estimated cost for the White House today: About $90 million.

NABOR® July 2016 Market Report

Brokers See a Steady Summer Season

 

Contacts: Rick Fioretti, President, (239) 597-1666,

Marcia Albert, NABOR® Director of Marketing, (239) 597-1666

Naples, Fla. (August 19, 2016) - The July 2016 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showed performance as expected during a traditional summer season. The inventory increase to 4,801 homes is welcome news to homebuyers following record-low inventory levels in July 2015, when the number of active listings dropped to 3,518 homes. Median closed prices remained steady for price segments above $300,000, which is good news to buyers, and increased 11 percent in the under $300,000 price category.

 

"Home prices continue to remain stable, and we are absorbing the inventory," said Jeff Jones, Managing Broker at the Naples-Park Shore office of Coldwell Banker®. "As the report reveals, a decrease in pending and closed sales in July had nothing to do with prices. Properties priced right were selling. We sold 627 homes, only 99 fewer homes in July than the year before, which was a very good year."

 

Bill Coffey, Broker Manager of Amerivest Realty Naples, agreed, saying, "Prices are remaining the same regardless of the increased inventory. Interestingly, the median closed price is up 7 percent from July a year ago to $300,000 when one would think the prices would go down due to the 36 percent increase in inventory."

 

Unlike other areas of the country, real estate sales in Naples decline during the off-season summer months. This pause is a familiar expectation, due to a majority of second home buyers retreating to their Northern homes during the summer months. The decline in July's home sales may also be due to the increase in the Canadian exchange rate and tourism being off this summer. Brokers anticipate the market will take off again in season.

 

According to Coffey, "Days on market for all price categories above $300,000 are returning to a normal range. The report shows that the days on the market for homes $1 million and above have decreased double digits from July of last year."

 

The July 2016 Market Report showed a 25 decrease in overall pending sales (homes under contract) to 681 pending sales from 913 pending sales in July 2015 (year over year). Overall closed sales decreased 14 percent to 627 closed sales from 726 closed sales in July 2015 (year over year). In comparison, overall closed sales decreased 2 percent from July 2014 to July 2015 (year over year). However, in perspective, inventory decreased 1 percent between July 2014 and July 2015, but increased 36 percent between July 2015 and July 2016.  

 

Despite a drop in overall closed sales, closed sales for single-family homes in the $500,000 to $1 million price category increased 26 percent in July 2016 to 72 single-family homes from 57 single-family homes in July 2015 (year over year). This segment's median closed price decreased 7 percent to $627,000 in July 2016 from $672,000 in July 2015 (year over year).

 

The July 2016 Market Report also showed a 44 percent decrease in median closed price for condominiums in the $2 million and above price category (year over year). In July 2015, the median closed price for these high-end condominiums was $4,395,000 (year over year). The median closed price for this price category dropped to $2,450,000 (year over year) in July 2016. This price segment also saw the highest increase in inventory of all other home types in July 2016; a 79 percent increase to 84 condominiums in July 2016 from 47 condominiums in July 2015.

 

The NABOR® July 2016 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® July 2016 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

 

CATEGORIES	July 2016	July 2015	CHANGE
Total homes under contract (pending sales)	681	913	-25%
Total closed sales	627	726	-14%
Median closed price	$300,000	$287,000	5%
Total active listings (inventory)	4,801	3,518	36%
Average days on market	75	77	-3%
Single-family closed sales	323	358	-10%
Single-family median closed price	$375,000	$379,000	-1%
Single-family inventory	2,565	2,040	26%
Condominium closed sales	304	368	-17%
Condominium median closed price	$245,000	$240,000	2%
Condominium inventory	2,236	1,478	51%

 

Additional activity of interest in the NABOR® July 2016 Market Report includes:

• Overall pending sales in the Immokalee/Ave Maria geographic area (34142) increased 25 percent to 5 pending sales in July 2016 from 4 pending sales in July 2015.
• Closed sales for single-family homes in the East Naples geographic area (34114, 34117, 34120, 34137) increased 39 percent to 104 single-family homes in July 2016 from 75 single-family homes in July 2015.
• Median closed prices for condominiums in the Naples Beach geographic area (34102, 34103, 34108) increased 28 percent to $725,000 in July 2016 from $567,000 in July 2015. 
• Inventory for single-family homes in the $300,000 and below price category did not change between July 2015 and July 2016.
• Inventory for condominiums in the North Naples geographic area (34109, 23110, 23119) increased 74 percent to 637 condominiums in July 2016 from 367 condominiums in July 2015. 

Activity in the Naples Beach area surprised broker analysts as its median closed price for single-family homes decreased 26 percent, yet its median closed price for condominiums increased 28 percent (year over year). 

 

"When they find it, they buy it," said Coco Waldenmayer, a managing broker at John R. Wood Properties. "Buyers, whether they are baby boomers or international, know what they are looking for in Naples."

10 Ways to Downsize Your Home Without Losing Your Mind

http://www.msn.com/en-us/lifestyle/style/10-ways-to-downsize-your-home-without-losing-your-mind/ar-BBvrxHA?li=BBnb7Kz

Downsizing and moving can be a challenge and quite taxing emotionally.  Here are a few suggestions to keep in mind which are probably helpful beyond just the downsizing objective of this article. 

Have a reality check.
Focus on the goal.
Tackle the easy chores first.
Build momentum.
Acknowledge your emotions.
Decide on the criteria for what stays or goes.
Get over the guilt.
Respect other people's memories.
Save the memory, not the item.
Be sentimental (but don't get carried away).

15 Totally Outrageous Ways Your Home Can Get You Sued

http://www.msn.com/en-us/lifestyle/home-and-garden/15-totally-outrageous-ways-your-home-can-get-you-sued/ss-BBvJ5TE?li=BBnb7Kz#image=2

Some of these are pretty outrageous but I guess lawsuits like these have happened. Many of them are connected to HOAs...which is a reminder to always be mindful of the rules you agreed to when you purchased home.

IF TRESPASSERS GET HURT IN YOUR POOL.
IF YOU PARK YOUR CAR IN THE DRIVEWAY.
IF YOUR DOG BARKS — EVER.
IF YOUR KIDS' PLAYHOUSE IS THE WRONG COLOR.
IF YOUR GARDEN HAS PROPER PATHS.
IF YOU DON'T MAINTAIN YOUR ELECTRICAL BOX.
IF YOU FORGET ABOUT GOVERNMENT-OWNED SIDEWALKS.
IF YOU THROW A SUMMER DECK PARTY.
IF THE TRESS IN YOUR BACKYARD ARE OLD.
IF YOUR MAILMAN GETS HURT AT YOUR HOUSE.
IF YOU CLEAN YOUR GUTTERS WITHOUT WARNING.
IF ANYONE GETS HURT ON YOUR TRAMPOLINE.
IF YOU COLLECT WATER DRIPS IN A BUCKET.
IF YOUR STEPS DON'T HAVE HANDRAILS.
IF YOUR LET YOUR GARBAGE ACCUMULATE.

John C. Goede: Condo owners at odds with association

http://www.naplesnews.com/story/money/business/local/2016/08/14/goede-condo-owners-odds-condo-association/88575160/

Condo associations have a significant amount of power.  Clients are always asking my advice on what condos are allowed to do and not do, I always defer to the condo docs. This link above touches on a lot of topics that I don't want to paraphrase since it is a legal conversation. I found it incredibly interesting to read...it is always important to seek legal counsel when it comes to these types of questions.

Guess how many Americans can't afford their homes

http://www.msn.com/en-us/money/realestate/guess-how-many-americans-cant-afford-their-homes/ar-BBvC8Ts?li=BBnbfcN

This can be a little scary if the economy has an issue that many people may not be able to maintain house payments. Sounds like over half of Americans are stretched a little too thin...

According to a report by the MacArthur Foundation, between 2011 and 2014, an estimated 52% of Americans had to make at least one major sacrifice in order to cover their rent or mortgage payments.

Generally speaking, you shouldn't spend more than 30% of your income on housing, which includes your rent or mortgage payment, homeowners' or renters insurance, and property taxes, if applicable.

5 bounce-back tips after a foreclosure or short sale

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=341552

I did not even realize that the wait times have been shortened for buying again after a foreclosure or short sale. Here are some things to do to get back in the housing game as quickly as possible!

1. Know your options: You no longer have to wait seven years after a bankruptcy or foreclosure to buy another home, Fannie Mae has shortened its waiting periods to two years after a pre-foreclosure sale – a short sale or deed in lieu of foreclosure – and to three years after a foreclosure. That's down from the standard waiting periods of four and seven years, respectively.

2. Change your bad money habits: Focus on paying down debt, creating a solid savings strategy and avoiding new splurge purchases. Saving for a downpayment and closing costs is one of the biggest hurdles that homebuyers face.

3. Repair your credit: The FHA's minimum credit score requirement for maximum financing is 580. Some lenders offer loans at that minimum, Carlisle says, but other mortgage lenders require a FICO score of 640 or higher.

4. Beware of predatory lenders: If you encounter lenders that try to seduce you with "special" zero-down home loans or people who recommend rosy rent-to-own or land contract agreements, run the other way.

5. Seek help from the pros: Not only can housing counselors help you address credit issues and set up a savings plan, they can connect you with state, local and private resources that can ease your path to homeownership, Brown says.

Barrack Says U.S. Real Estate Market Is Getting ‘Bubblicious’

http://www.msn.com/en-us/money/realestate/barrack-says-us-real-estate-market-is-getting-‘bubblicious’/ar-BBvEJRf

This is only one perspective of course, but as an investor you have to be cautious with investments.

Real estate investors could be in for a shock if interest rates rise or demand in some markets continues to fall because “amateurs” are plowing money in at high prices, betting on rent increases that may not continue, said Tom Barrack, the billionaire chairman of Colony Capital Inc.

“It looks a little bubblicious,” Barrack said of the real estate market. “We’re printing money. More debt is available. But amateurs are playing in it.”

Best Places to Raise the Next Olympian

http://realtormag.realtor.org/daily-news/2016/08/16/best-places-raise-next-olympian?om_rid=AADG2i&om_mid=_BXs2m8B9RRviNp&om_ntype=RMODaily

I love the Olympics, so here is where you should live if you want to raise your kids to be Olympians! I don't think I will be moving anytime soon but California seems to be the place to be!

The seven best places to raise gymnasts in training:
Ventura County, Calif.
Orange County, Calif.
San Francisco, Calif.
Fairfield County, Conn.
Austin, Texas
San Jose, Calif.
Cambridge-Newton-Framingham, Mass.

The seven best cities to raise swimmers in training:
Ventura County, Calif.
Seattle, Wash.
Honolulu, Hawaii
Austin, Texas
Sacramento, Calif.
Orange County, Calif.
San Francisco, Calif.

The seven best cities for running and jumping:
San Diego, Calif.
Orange County, Calif.
San Francisco, Calif.
Ventura County, Calif.
San Jose, Calif.
Oakland, Calif.
Los Angeles, Calif.

6 Insiders Reveal Secrets Every House Hunter Should Know

http://www.msn.com/en-us/money/realestate/6-insiders-reveal-secrets-every-house-hunter-should-know/ar-BBttxrF#page=2

It is not easy being a homebuyer.  There are a lot of emotions and challenges to deal with so you have to be level headed, here are a few things to keep you grounded.

Look for flaws in the foundation
Think strategically to land a house in a hot market
Get the inside scoop
Use pricing psychology
Be the likable buyer
Keep an open mind

Trio to bring 9-story condo, extended-stay hotel to East Naples

http://www.naplesnews.com/story/news/local/communities/collier-citizen/2016/08/15/trio-bring-9-story-condo-extended-stay-hotel-east-naples/88772416/

I am so excited to see that this is going to start happening sooner rather than later! The Gateway Triangle is really going to tie East Naples to Downtown Naples.  I can only imagine what the sky club will look like!

“The first level includes 12,000 square feet of retail and office space. The second and third floors are luxury extended-stay hotel apartments, where (guests) can stay for up to 30 days. The fourth through ninth floors are condominiums,” Bartley said.

“(The rooftop sky club) was going to be on the main building, but now it’s not. We moved it because functionally it didn’t work with all the people in and out of the (main) building, so we moved that on top of the parking garage,” Bartley said.

Condos range in size from 2,400 to 2,800 square feet, and cost between $1.1 and $2.7 million.

Neighborhood Features That Drag Down Prices

http://realtormag.realtor.org/daily-news/2016/08/15/neighborhood-features-drag-down-prices?om_rid=AADG2i&om_mid=_BXsiLJB9RI6Xio&om_ntype=RMODaily

These all make pretty clear sense to me....things to keep in mind

Here are five neighborhood features that had the biggest impact on dragging down nearby home prices:

1. Bad school: -22.2%
2. Strip club: -14.7%
3. High concentration of renters: -13.8%
4. Power plant: -5.3%
5. Shooting range: -3.7 percent

8 Easy Renovation Projects Every Homeowner Can Do Now

http://www.msn.com/en-us/money/realestate/8-easy-renovation-projects-every-homeowner-can-do-now/ss-BBvwql9#image=2

All very small, easy things to do to make your home more appealing either for sale or for your own enjoyment! The little things make the sale!

ADD A COAT OF PAINT.
ORGANIZE YOUR CLOSET.
UPDATE KITCHEN AND BATH HARDWARE.
SPRUCE UP YOUR FRONT ENTRY.
INSTALL MOLDING.
CHANGE FAUCETS AND SHOWERHEADS.
ADD GARAGE SHELVING AND ORGANIZERS.
REPLACE LIGHT FIXTURES.

17 Old House Features That Should Have Never Have Gone Out of Style

http://www.msn.com/en-us/lifestyle/home-and-garden/17-old-house-features-that-should-have-never-have-gone-out-of-style/ss-BBvo7b9?li=BBnb7Kz

I love some of these ideas to bring back to homes now. 

SHUTTERS
FANCY DOORKNOBS AND HARDWARE
TELEPHONE NOOKS
BUTLERS' PANTRIES
TRANSOMS
DUTCH DOORS
SLEEPING PORCHES
WINDOWS WITH DIVIDED LIGHTS
TRUE CRAFTSMANSHIP
GARAGES BEHIND HOUSES
DECORATIVE FLOORS AND CEILINGS
ROOMS THAT AREN'T SQUARE
CLOTHESLINES
BUILT-INS
SEPARATE ROOMS
POCKET DOORS

BUILDING CORRECTLY FOR THE CLIMATE YOU LIVE IN

The 30 Most Fun Places to Live in the U.S.

http://www.msn.com/en-us/money/realestate/the-30-most-fun-places-to-live-in-the-us/ss-BBuZw38?li=BBnb7Kz#image=15

Well our Ft Myers makes the list and nearby Orlando too!


17. FORT MYERS, FLORIDA
Best Places to Live 2016 Ranking: 38
Metro Population: 647,554
Median Home Price: $201,925
Median Annual Salary: $38,750
Parks Ranking: 64
Restaurants Ranking: 37
Shopping Ranking: 6

This popular retirement destination is well known for its warm weather and gorgeous beaches, but Fort Myers also has many amenities to make free time enjoyable. Scoring sixth for its shopping options, Fort Myers also has plenty of concert venues throughout the area, ranking No. 8 in that category. Restaurants and attractions are also proportional to the metro area's relatively small population, with 2,100 restaurants for just under 650,000 people.

Collier buyers need twice the national average to buy an existing single-family home

http://www.naplesnews.com/story/money/business/local/2016/08/11/collier-buyers-need-twice-national-average-buy-existing-single-family-home/88565602/

This is pretty crazy how we compare to the rest of the county and even to Lee County.  We do live in paradise so the demand is here for the homes!

See the different incomes and down payment requirements to afford an existing single family home in the area.

With a 20 percent down payment, U.S. homebuyers needed an income of $44,004 to afford an existing single-family home in the second quarter.

But buyers in the Naples-Immokalee-Marco Island market needed $82,176, while those in Cape Coral-Fort Myers needed $42,048.

With a 10 percent down payment, buyers nationally needed to make $49,504 to buy a resale home. But in the Naples metro area they needed $92,448, and in the Cape Coral-Fort Myers market $47,304.

If they put 5 percent down, U.S. buyers needed $52,255, while Naples buyers needed $97,584 and Cape Coral-Fort Myers $49,932.

Great Dock Canoe Race will return to Naples

http://www.naplesnews.com/story/sports/outdoors/2016/08/12/great-dock-canoe-race-returns-naples/88586650/

Such exciting news for a 40 year tradition that most thought was over! They are going to not make any changes to it either keeping its integrity!

The Junior Chamber, known as the “Jaycees”, have taken over the Great Dock Canoe Race. The organization for young professionals plans to keep most things status quo for the Naples institution, started in 1977 as a celebration for locals at the end of the winter tourist season.

In recovering housing market, the starter home remains elusive

http://www.msn.com/en-us/money/realestate/in-recovering-housing-market-the-starter-home-remains-elusive/ar-BBvt0bV

Collier County has an issue with this, there are not many options for low priced real estate and many then are condos which cannot get FHA financing or have high HOA dues which puts debt to income ratios over lending thresholds.

Nationwide, the inventory of homes costing $250,000 or less fell more than 12 percent between June 2015 and June 2016, according to the National Association of Realtors.

The shortage stems from higher labor, land and building permit costs that have caused construction companies to focus on higher-end homes that bring more profit.

Corporations or companies now own nearly one fifth of all homes priced under $300,000 that are not occupied by their owners, according to property data firm ATTOM Data Solutions.

Ocean Prime restaurant to replace Avenue5 in Naples

http://www.naplesnews.com/story/news/columnists/tim-aten-in-the-know/2016/08/10/ocean-prime-restaurant-replace-avenue5-fifth-avenue-south-naples/88515580/

Another big change for 5th Ave in Naples - the new place sounds fantastic!

The restaurant switch is being made because of the amount of time operating Avenue5 commands, McCabe said, and does not speak to its success.

Ocean Prime’s menu specializes in pairing seafood and prime steaks with sushi, appetizers and desserts. Examples include Alaska halibut with lobster ravioli, asparagus and sweet corn emulsion; blackened snapper with corn spoon bread and jalapeño tartar; black truffle mac and cheese; and a 10-layer carrot cake with cream cheese icing and pineapple syrup.

The Ultimate Money Checklist to Complete Before Buying a Home

http://www.msn.com/en-us/money/realestate/the-ultimate-money-checklist-to-complete-before-buying-a-home/ss-BBvvKbr#image=2

There are many things to think about with financing. Lenders take so much into consideration with your loan application and they go back a years to confirm things so its imperative to be cautious! 

GET A STEADY INCOME
CALCULATE YOUR DEBT-TO-INCOME RATIO
PAY DOWN DEBTS
WATCH CREDIT CARD PAYMENTS
TAKE A LOOK AT YOUR CREDIT
DETERMINE YOUR MONTHLY HOUSING BUDGET
DETERMINE YOUR DOWN PAYMENT
GET PRE-APPROVAL
GATHER PROOF OF INCOME
GATHER PROOF OF ASSETS
GATHER TAX RETURNS
RESEARCH DOWN PAYMENT ASSISTANCE

Gray Becomes the ‘It’ Paint Color in Interiors

http://realtormag.realtor.org/daily-news/2016/08/10/gray-becomes-it-paint-color-in-interiors?om_rid=AADG2i&om_mid=_BXq47KB9RBTnJO&om_ntype=RMODaily

I have been into the grey paint color for sometime now the article says grey is the new beige. It is important to look at the undertones though to make sure they go well with your current home figures and look.

“And because gray paint is offered with many different undertones, it can either be the most neutral hue possible or give dramatic dimension — another great reason to add it to your palette.”

12 Ways to Make Buying Your First Home More Affordable

http://www.msn.com/en-us/money/realestate/12-ways-to-make-buying-your-first-home-more-affordable/ar-BBv7Cqj#page=2

These are some good ideas to save some money in the home buying process.

1. Clean Up Your Credit
2. Shop for the Best Loan Terms
3. Close Near the End of the Month
4. Seek Out Low Down Payment Options
5. Commit to a Monthly Savings Goal
6. Set Up a Crowdfunding Account
7. Downsize Vacation and Wedding Plans
8. Research Your City’s Housing Market
9. Learn to Adjust Your Expectations
10. Purchase a Fixer-Upper
11. Trade Up to Your Dream Home
12. Develop a Relationship With Your Realtor

Lopsided Housing Rebound Leaves Millions of People Out in the Cold

http://www.msn.com/en-us/money/realestate/lopsided-housing-rebound-leaves-millions-of-people-out-in-the-cold/ar-BBvtvFU?li=BBnbfcN

I can see how this happens here in Collier County.  Everything is so expensive that leaves no options for buyers at the lower price point.  New construction here is pretty expensive as well making it difficult for buyers. 

But most of the price gains, economists said, stem from a lack of fresh supply rather than a surge of buyers. 

“I don’t think we are in a normal housing market,” said Lawrence Yun, chief economist at the National Association of Realtors. “The losers are clearly the rising rental population that isn’t able to participate in this housing equity appreciation. They are missing out on [a big] source of middle-class wealth.”

Canadians buying fewer homes in SWFL but have more choices

http://www.naplesnews.com/story/money/real-estate/2016/08/09/canadians-buying-fewer-homes-swfl-but-have-more-choices/88483374/

It is logical that Canadians wouldn't buy right now with such poor exchange rates.  At the end of the article they joke about how even though Americans threaten to move there after elections the won't! 

Because of unfavorable exchange rates and increasing U.S. home prices, Canadian buyers have been shying away from buying homes in Southwest Florida lately.

The current exchange rate pegs the Canadian dollar at 76 cents for every U.S. dollar, and it has been trending lower since the end of 2013.

Canadian buyers in Southwest Florida tend to be in their 40s and 50s and still in the workforce, Henderson said, and are looking for homes in the $200,000 to $500,000 price range.

Renovation Tips to Attract Millennial Buyers

http://realtormag.realtor.org/daily-news/2016/08/09/renovation-tips-attract-millennial-buyers?om_rid=AADG2i&om_mid=_BXqig5B9Q9ccAw&om_ntype=RMODaily

The Millennial mystery continues, we are picky and want move in ready!  Here are a few things to think about

Create a Laundry Room
Get Smart (energy efficient)
Make Working from Home Easier
Focus on Outdoor Spaces

11 million Americans spend half their income on rent

http://money.cnn.com/2016/06/22/real_estate/rent-affordability-housing-harvard/index.html?iid=SF_River

This was from 2014 so based on current rental market my assumption that this is even worse now.  Time to buy investment properties!

The number of renters dedicating at least half of their income toward housing hit a record high of 11 million people in 2014.A total of 21.3 million are spending 30% or more of their paycheck to cover the rent -- also a record high.

Here is some of the impact of high rental rates!
Household budgets are taking a hit
Middle-class renters in expensive cities are struggling
It's not just young people who are renting
Low-income renters are getting squeezed out
Homeownership is becoming more affordable

Vancouver just hit foreign homebuyers with a massive tax

http://money.cnn.com/2016/08/02/real_estate/vancouver-foreign-property-transfer-tax/index.html?iid=Lead

This came up quickly - it will be in effect for properties that are currently under contract it went into effect eight days after it was announced. I would not be happy if I was under contract and this happened!  Buy in Naples instead!

Starting Tuesday, foreign buyers purchasing property in the Canadian City will be hit with a 15% property transfer tax.

How much is walkability worth in your neighborhood?

http://www.msn.com/en-us/money/realestate/how-much-is-walkability-worth-in-your-neighborhood/ar-BBvo23F

I wish I lived in a more walkable area, see the chart below for comparing walkability scores and below info on what helps get a high score!


It’s no surprise that homes in more walkable areas tend to be more expensive, but a new study from Redfin now puts numbers to the worth of walkability: An increase of one Walk Score point bumps a home’s price by an average of $3,250 or 0.9 percent.

Amenities like parks, jobs, and eateries located within a five-minute walk make for a higher rating, but anything within a 30-minute walking distance is considered.

6 Ways to Reduce Pain When Selling Your Home

http://www.msn.com/en-us/money/realestate/6-ways-to-reduce-pain-when-selling-your-home/ar-BBvoHql

Moving and selling your home can be stressful here are some ways to try to help you stay sane! I don't love all of these suggestions but there is a side for each of these points!

1. Never hire a relative or friend to list your home. 
2. Don’t take anything personally.
3. Ignore election year pessimism.
4. Plan a long vacation.
5. Investigate alternate selling options. 
6. Accept the inevitable.

Best Buy Cities: Where To Invest In Housing In 2016

http://www.forbes.com/sites/erincarlyle/2016/01/27/best-buy-cities-where-to-invest-in-housing-in-2016/#6f6971e92429


Florida seems to be a place where everyone is headed - we are adding jobs and it is paradise!

Why is Florida, of all places, dominating the list? “The Florida situation surprised me,” admits Winzer. But in light of the national economic recovery, Florida’s rise makes a lot of sense. Because it attracts retirees, second-home buyers, and investors, the Sunshine State’s housing market is subject to more volatility than other markets. With would-be retirees and vacationers staying away during the downturn, housing prices tumbled dramatically. “Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered,” Winzer said. As retirees and vacationers return, they need services, in turn creating a steady stream of jobs, which leads to a steady supply of renters. Last year Florida added nearly a quarter-million jobs, Florida TaxWatch reports.

Why the decline of the homeownership rate is good news

http://www.msn.com/en-us/money/realestate/why-the-decline-of-the-homeownership-rate-is-good-news/ar-BBvdTOA
This is an interesting perspective - I am clearly a firm believer of building wealth though real estate but it has to be done with thought and not over extending the buyer.  Equity is going up as well however if you are putting only a small amount down you are at the mercy of the market if there are huge fluctuations.

The U.S. homeownership rate has just fallen to its lowest level since the Census Bureau began tracking it in 1965.

We should de-emphasize house buying and explore alternatives that do not require people to bet on a single illiquid asset class — or make it harder to relocate in pursuit of opportunities, which is another drawback of home buying.

What are the average mortgage closing costs in your state?

http://www.msn.com/en-us/money/househuntingguide/what-are-the-average-mortgage-closing-costs-in-your-state/ar-BBllnOk

These are only closing costs for mortgages, with title policies, prorations, government fees and others your total closings costs will likely be higher. See the link above to find your state! 

FLORIDA
STATEAVERAGE ORIGINATION FEES

$1028

AVERAGE THIRD-PARTY FEES

$778

AVERAGE ORIGINATION PLUS THIRD-PARTY FEE

$1806

5 Landscaping Tips that Won't Break the Bank

http://www.msn.com/en-us/money/realestate/5-landscaping-tips-that-wont-break-the-bank/ar-BBthJTj

Sellers often underestimate the value of curb appeal.  A little landscaping goes a long way! First impression do matter.

• Clean up your yard.
• Use hardscaping.
• Add more shrubs and trees.
• Utilize plastic plant containers.
• Develop a pathway.

Florida is your happy place, a new survey shows

http://www.naplesnews.com/story/money/data/2016/08/05/florida-your-happy-place-new-survey-shows/88045296/

How can you not be happy living in paradise!  Naples area is 4th on the list!

The Naples area was fourth on that list of happiest places, after Charlottesville, Virginia; Rochester, Minnesota; and Lafayette, Louisiana.

They found contentment came from three factors:

• how accessible the house is to important local services and attractions;
• how safe, diverse and well-knit the surrounding neighborhood is; 
• how comfortable, affordable and well-functioning the home itself is.

17 Counties Where People Live the Longest

http://www.msn.com/en-us/health/wellness/17-counties-where-people-live-the-longest/ss-BBuvaqo?li=BBnb7Kz#image=10

We are number 9! Naples is also a Blue Zone which I have blogged about earlier this year.  We are constantly working on being a healthier community!

9. COLLIER COUNTY, FLORIDA

• Life expectancy: 82.4 years
• Annual deaths per 100,000 people 65 and older: 2,684
• Median household income: $56,250
• Pct. of pop. over 65: 27.4%

Section 8 Vouchers Can Be Used to Buy Homes

http://realtormag.realtor.org/daily-news/2016/08/04/section-8-vouchers-can-be-used-buy-homes?om_rid=AADG2i&om_mid=_BXo5fAB9QwhI-j&om_ntype=RMODaily

This is greeat to encourage homeownership! I would be curious why it is only for manufactured homes....maybe the price point of them?

families will now be able to use the vouchers for making a mortgage payment as well as pay property taxes and insurance on manufactured homes.

New U.S. mortgage rules aim to stop wrongful foreclosures

http://www.msn.com/en-us/money/realestate/new-us-mortgage-rules-aim-to-stop-wrongful-foreclosures/ar-BBvgmOb

It is important to avoid wrongful foreclosures. This new rule will be great for homeowners!


This change will be particularly helpful for borrowers who obtain a permanent loan modification and later suffer an unrelated hardship – such as the loss of a job or the death of a family member – that could otherwise cause them to face foreclosure," the CFPB said in an outline of the new rules.

The 30 Most Fun Places to Live in the U.S.

http://www.msn.com/en-us/money/realestate/the-30-most-fun-places-to-live-in-the-us/ss-BBuZw38#image=15

Great recognition for SWFL!

17. FORT MYERS, FLORIDA
Best Places to Live 2016 Ranking: 38
Metro Population: 647,554
Median Home Price: $201,925
Median Annual Salary: $38,750
Parks Ranking: 64
Restaurants Ranking: 37
Shopping Ranking: 6

This popular retirement destination is well known for its warm weather and gorgeous beaches, but Fort Myers also has many amenities to make free time enjoyable. Scoring sixth for its shopping options, Fort Myers also has plenty of concert venues throughout the area, ranking No. 8 in that category. Restaurants and attractions are also proportional to the metro area's relatively small population, with 2,100 restaurants for just under 650,000 people.

4 reasons to get a 15-year mortgage

http://www.msn.com/en-us/money/realestate/4-reasons-to-get-a-15-year-mortgage/ar-BBv4ld6

The lower mortgage length the better and the payments are not very much more if you can afford it. Check out the scenario below, you can save a ton of money! 

You can afford the higher monthly payment
You have a stable job
You're nearing retirement
There are other things you want to save for

Let's say you're looking to take out a $200,000 fixed-rate mortgage, and you're approved for 4% interest for both a 15-year and 30-year mortgage. (In reality, the 15-year mortgage would most likely come with a lower rate, but for the sake of an easy comparison, we'll keep the rate the same for both options.) If you go with the 30-year mortgage, you'll wind up paying $955 a month and a total of $143,700 in interest over the life of the loan. If you take the 15-year mortgage, your monthly payment will be higher at $1,479, but over the life of your loan, you'll only wind up paying about $66,300 in interest.

In all, you'd save over $77,000 by going with the 15-year mortgage.

FHA Condo Relief Coming: President Signs Bill

http://realtormag.realtor.org/daily-news/2016/08/01/fha-condo-relief-coming-president-signs-bill?om_rid=AADG2i&om_mid=_BXn5w1B9Qgwton&om_ntype=RMODaily

This is FANTASTIC for buyers and sellers.  Very few condos qualify for FHA loans, this will help many buyers trying to use FHA loans to purchase!

The bill will make Federal Housing Administration’s recertification process “substantially less burdensome” and will lower FHA’s owner-occupancy requirement from 50 percent to 35 percent, NAR has reported. The bill also requires the FHA to replace an existing policy on transfer fees with a less-restrictive model that has already been in place at the Federal Housing Finance Agency.

Democratizing data: Toward real estate transparency

https://www.inman.com/2016/08/01/democratizing-data-toward-real-estate-transparency/

I have a hard time believing that real estate transactions will soon be as easy as buying a car or a stock but technology changes so quickly that it probably is possible. If anything, getting mortgages are now taking longer rather than getting shorter. If you are paying cash though I can get the deal done usually in a week! The article claims the following will help streamline the process:

• real-time performance data
• customer workflows 
• data analytics
• data-as-a-service

It’s a Good Time to Sell, Americans Say

http://realtormag.realtor.org/daily-news/2016/08/02/it-s-good-time-sell-americans-say?om_rid=AADG2i&om_mid=_BXoRDgB9QqCL5u&om_ntype=RMODaily

Fifty-two percent of home owners say now is a good time to sell in their neighborhood!

The top reasons sellers say they want to sell now:

• I want a larger or nicer home: 40%
• I am relocating to a new city: 24%
• I want to pull out my profit: 21%
• I want a smaller or less expensive home: 20%
• I have had a change in family status: 19%
• I want to move to a better school district: 15%

The following were Americans’ top concerns about selling:

• I might not find another home I want: 30%
• Prices might fall before I sell: 26%
• I might not find another home I can afford: 25%
• General economic conditions might discourage buyers: 23%
• The appraisal might come in low: 19%

Great Investment Deal Coming Soon to Naples Opportunities

Get it before it is listed for sale!! 5 Units!

$590,000
3,296 total living area
3,410 total s/f
City water city sewer
On the naples park lake
5 total units (1 non-conforming)
Four 2/1 units and 1 studio apartment
New roofs in 2014
All kitchens and baths renovated in 2014

Current rents are $995, $1,070, $970, $770, one vacant (lots of room to increase)
All tenants have security deposit

CBS construction