Southwest Florida foreclosures fall

http://www.naplesnews.com/story/money/business/local/2016/10/13/southwest-florida-foreclosures-fall/91956692/

Great news for the housing market in our area

One in every 607 housing units in Collier County is in some stage of the foreclosure process, compared with one in 338 housing units in Lee County, and one in 472 units nationwide.

Statewide, one in every 289 housing units is in foreclosure.

Gorgeous Indigo Lakes Home!

http://matrix.swflamls.com/matrix/shared/2LPhT5NXFH/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.

Collier County approves $2.5M beach renourishment deal

http://www.naplesnews.com/story/news/government/2016/10/11/collier-county-approves-25m-beach-renourishment-deal/91918280/

I am happy to see that Collier Co is taking steps to maintain our beautiful beaches.

Trucks will start hauling sand to five county beaches Nov. 1 after Collier County commissioners Tuesday unanimously approved a $2.5 million beach renourishment deal.

The county hired Earth Tech Enterprises Inc. to transport, place and grade a total of about 135,000 tons of sand to the beaches of South Marco Island, Vanderbilt, Park Shore, Pelican Bay and Sugden Lake.

Investors new to flipping should verify insurance

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=343750

Insurance is so important especially when renovating or flipping.  It is important to make sure you are covered as well as vendors that are working on your home. 

1. Notify the insurance company before the renovation
2. Confirm the general contractor is licensed and bonded
3. Confirm coverage for any subcontracted workers
4. Consider purchasing builder's risk insurance
5. Confirm the contractor has completed operations insurance

Americans Want More Bathrooms at Home

http://realtormag.realtor.org/daily-news/2016/10/11/americans-want-more-bathrooms-home?om_rid=AADG2i&om_mid=_BX-S$rB9TpUjDH&om_ntype=RMODaily

I think more bathrooms are great! I personally don't like sharing one. Seems like people agree with me. Powder rooms for guests are great too!

The share of new homes started with three or more full bathrooms is on the rise. That also reflects builders’ focus on the higher-end, larger homes since the end of the Great Recession.

New condo tower planned in downtown Fort Myers

http://www.news-press.com/story/news/2016/10/10/new-condo-tower-planned-downtown-fort-myers/91846778/

Any new buildings like this are cause for excitement!

ONE ALLURE’s 24 residences will be priced from $500,000 to $2.7 million for two- and three-bedroom units ranging from 1,624 to 3,900 square feet. The first of two penthouses has been spoken for, and construction is expected to begin mid-2017 with a late 2018 completion, Caballero said. Located about a quarter mile east of downtown, the address at 2583 First Street.

There's a 5-storey penthouse for sale in Monaco and it's yours for $335 million-plus

http://www.msn.com/en-us/money/realestate/theres-a-5-storey-penthouse-for-sale-in-monaco-and-its-yours-for-dollar335-million-plus/ar-BBxhbRz?li=BBnbfcN

Well we don't have anything in Naples like this. Properties like this are prevalent for the fiscal advantages Monaco offers!

Attracted by Monaco's fiscal regime which repealed income tax in 1869 and has no capital gains, wealth or property taxes, the increased focus on tax over the past decade from other European countries' governments, has driven yet more of the wealthy to the landlocked state.

Watkins family eyeing options for Beach Club property

http://www.naplesnews.com/story/news/local/2016/10/10/watkins-family-eyeing-options-beach-club-property/91868542/

Well this is a bit of a surprise - they may just find a partner or completely sell they seem open to different options.

Mike Watkins confirmed Monday that the family has enlisted a "well-respected international real estate firm" to look into options for the iconic hotel-golf course property that stretches from the beach to U.S. 41 in the heart of Naples.

The 10 Best Cities to Flip Houses

http://www.msn.com/en-us/money/realestate/the-10-best-cities-to-flip-houses/ss-BBwHnpg#image=2

Flipping has become more and more difficult in Collier County however here is where it is still good!

LAREDO, TEXAS
BOISE, IDAHO
NEW ORLEANS
TAMPA, FLORIDA
LUBBOCK, TEXAS
LINCOLN, NEBRASKA
OKLAHOMA CITY
EL PASO, TEXAS
FORT WAYNE, INDIANA
SIOUX FALLS, SOUTH DAKOTA

6 Things You Need to Know About PMI

http://www.msn.com/en-us/money/realestate/6-things-you-need-to-know-about-pmi/ar-BBx2dWR


PMI is private mortgage insurance that is used with conventional loans. Insurance companies provide PMI, which is arranged by your lender to protect them if the borrower stops making payments.
But this only applies to mortgages where the down payment was less than 20 percent of a home’s

• PMI Doesn’t Protect You, It Protects Your Lender
• Different Types of Mortgage Insurance Programs Are Available
• PMI Costs Vary by Credit Score and Down Payment Amount
• PMI Premiums Could Be Due Upfront
• PMI Is Not the Same as Mortgage Life Insurance
• How to Get Rid of PMI

12 Things Insurance Might Not Cover After Hurricane Matthew

http://www.msn.com/en-us/money/insurance/12-things-insurance-might-not-cover-after-hurricane-matthew/ar-BBx9k5Q?li=BBnbfcL

In Florida hurricanes are a part of life. It has been quite some time since we have had one but here are a few things insurance might not cover:

1. Flood
2. Your Deductible
3. Expensive Items
4. Damage Caused By Mold, Sewer, Drain Backups & Sump Overflow
5. If You're a Renter
6. Damage From Sinkholes
7. If the Ground Shifts During the Storm & Causes Damage
8. Replacement Costs vs. Cash Value
9. Trees
10. Wind Damage If You're in a High Risk Area
11. Replacing Your Mobile Home
12. Identity Theft.

4 Lawn Maintenance Tips for Fall

http://realtormag.realtor.org/daily-news/2016/10/07/4-lawn-maintenance-tips-for-fall?om_rid=AADG2i&om_mid=_BX9$T6B9ThJtIs&om_ntype=RMODaily

The fall leaves are beautiful however it is important to maintain your yard now so it looks amazing in spring.  Here are a few reminders. 

1. Rake

2. Seed & Fertilize

3. Trim

4. Out with the Old

An heiress to the Johnson & Johnson fortune is selling her 600-acre farm for $28.5 million

http://www.msn.com/en-us/money/realestate/an-heiress-to-the-johnson-and-johnson-fortune-is-selling-her-600-acre-farm-for-dollar285-million/ss-BBwUcxB#image=1

What an amazing property!

Elizabeth Ross "Libet" Johnson, a Johnson & Johnson heiress with an appetite for high-end real estate, is selling her Millbrook, New York, horse farm The Wall Street Journal reported. Set on more than 600 stunning acres of land, Lightning Tree Farm has a private helipad and an 18-stall horse stable. The property is also host to a large main house with nine bedrooms, eight bathrooms, and a movie theater.

Predictions Roll in: 2017 Housing Forecasts

http://realtormag.realtor.org/daily-news/2016/10/03/predictions-roll-in-2017-housing-forecasts?om_rid=AADG2i&om_mid=_BX8s3dB9TOylKm&om_ntype=RMODaily

Wow - this is great. We are selling and homeowners are accumulating wealth.

NAR is predicting existing-home sales to reach 6 million in 2017, higher than its 5.8 million forecast for this year. But other entities are even more bullish. MBA is predicting home sales to eclipse 6.5 million next year, while Fannie Mae and Freddie Mac are both predicting 6.2 million.

The Hot Colors, Materials for Kitchens

http://realtormag.realtor.org/daily-news/2016/10/04/hot-colors-materials-for-kitchens?om_rid=AADG2i&om_mid=_BX9AM-B9TZ-cls&om_ntype=RMODaily

I see the white trend happening here in Collier Co! 

The most popular countertop colors, according to Houzz consumer surveys, are:
30% multi-colored
26% white
18% black

The most popular backsplash colors:
26% white backsplashes
13% beige
12% multi-colored
6% gray

The most popular color for cabinetry:
34% white
20% wood – medium tone
9% gray
7% wood – dark tone
6% multi-colored

The most popular colors of appliances:
79% stainless steel
6% black
4% white

4 Reasons to Buy a Home Now

http://realtormag.realtor.org/daily-news/2016/10/03/4-reasons-buyers-really-should-buy-fall?om_rid=AADG2i&om_mid=_BX8s3dB9TOylKm&om_ntype=RMODaily

We have been a little slower here in Naples, maybe some of the sellers are a bit more motivated!

1. Lower home prices.

In October, home buyers paid 2.6 percent below the estimated market value at the time for their homes, the study shows.

2. Less competition.

3. More leverage.

Home sellers in the fall may be more pressed to sell. They are “generally people who need to sell, which can make for better negotiations for the buyer,”

4. Year-end tax credits.

Home buyers who close on a home by the end of the fiscal year may find a nice tax deduction awaiting them on April 15. They may be able to deduct closing costs, property tax, and mortgage interest to offset their taxable earnings.

The 20 Best Places People Are Moving to in the U.S.

http://www.msn.com/en-us/money/realestate/the-20-best-places-people-are-moving-to-in-the-us/ss-BBwQ5fe#image=21

Over and over Southwest Florida proves to be one of the best place to live. Makes me proud to live here! 

1. FORT MYERS, FLORIDA

Best Places to Live 2016 Ranking: 38
Metro Population: 647,554
Median Home Price: $201,925
Median Annual Salary: $38,750
Net Migration Rate, 2010 to 2014: 9.36 percent

With nearly 9.4 percent population growth between 2010 and 2014 due to net migration alone, Fort Myers is the top place people are moving to of the 100 largest metro areas in the U.S. With a median age of over 46 years, Fort Myers is a popular spot for retirees and has grown significantly in recent years, though it remains a smaller metro area with less than 650,000 residents.

The Cost of Renting vs. Owning a Home in Every State

http://www.msn.com/en-us/money/realestate/the-cost-of-renting-vs-owning-a-home-in-every-state/ss-BBurP5g?li=BBnbfcN#image=50

Rental rates are sky high, it is difficult for first time home buyers to save up for down payments and closing costs but many times it is much cheaper to buy rather than rent....especially in Florida.

Renting vs. buying a home in Florida:

Monthly rent in Florida: $1,695

Monthly mortgage in Florida: $1,297

Rents have been rising in the Sunshine State — especially in South Florida where the population is growing and demand for rentals has increased, the Sun Sentinel reported in April.

In fact, Miami is the eighth-most expensive rental market in the U.S., according to the Zumper National Rent Report. More and more adults are living with roommates in Miami to offset high rents, Gudell said.

Fort Myers, Lehigh Acres rank high among fast-growing cities

http://www.fox4now.com/news/fort-myers-lehigh-acres-rank-high-among-fast-growing-cities

Everyone is on board with Southwest Florida and it is growing!

The analysis, conducted by personal-finance website WalletHub , ranked Lehigh Acres as the #3 fastest-growing city in the country, with Fort Myers coming in at #14.

Facing neighborhood opposition, Arthrex modifies expansion plans

http://www.naplesnews.com/story/news/local/2016/10/01/arthrex-modifies-expansion-plans/90693344/

It is great that companies are working with local communities to make sure how the are expanding works for the neighbors. Hopefully the new plan is a success.

Arthrex's expansion is just the kind of project Collier County's government and business leaders say they want: a headquarters that will create hundreds of good-paying jobs and further solidify the medical device manufacturer's presence in Southwest Florida.

“Arthrex is a great Florida company that employs over 2,200 Floridians. We look forward to seeing them continue to grow in our state," said Lauren Schenone, press secretary for Gov. Rick Scott.

Water bill to steer nearly $2 billion to Everglades

http://www.naplesnews.com/story/news/environment/2016/09/29/water-bill-steer-nearly-2-billion-everglades/91297432/

This is great news, Ft Myers gets impacted by the run off water and it does cause damage to the coastline.

The House on Wednesday approved a massive water bill authorizing $1.95 billion for projects to help restore Florida’s River of Grass.

The Everglades restoration program is expected to protect coastal communities from damaging runoff by diverting 67 billion gallons of water southward per year to improve the habitat in Florida Bay. That will prevent seagrass die-offs threatening valuable fisheries in the Florida Keys.