Bernie East Sells Naples

#1 in Market Share Growth for 2009!

2010-01-26T17:36:00.001-05:00

Amerivest Realty is on a roll, If your looking to Buy property here in Naples please contact me

#1 in Market Share Growth for 2009!

Bernie East Realtor

Amerivest Realty

239-248-1966

BEast@Amerivestrealty.com

www.Berniesellsnaples.com

Home & Condo Sales update for 2009

2009-08-03T11:54:00.006-04:00

Sales history for the past 3 years in Naples Florida

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We are seeing solid sale increases over the last 3 years her in Naples FL, although the median price is still going down we are seeing lots of investors come into the market once again, the numbers below are just for Naples only and do not include the Bonita, Estero, Ft Myers area although Lee county is also having a good sales year.

With the Banks and the Courts working hard to get all the foreclosures onto the market, as well as the short sale process is now getting to be a smoother operation.

The old question is are we at the bottom I will let you decide all I can say is numbers have been going up since last November on past year sales.

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2007 --------------------------2008 -----------------------2009

January 2007- 261,----- January 2008- 279,---- January 2009 -351.

February 2007- 303, ----February 2008 -312, ---February 2009 -424.

March 2007 -440, -------March 2008 -411,------ March 2009 -591.

April 2007 -444,-------- April 2008- 487, -------April 2009- 620.

May 2007- 451, ---------May 2008- 504,------- --May 2009- 726.

June 2007 -431,-------- June 2008- 493,-------- -June 2009 -722.

July 2007 -275, ---------July 2008 -378,---- -----July 2009 -576.

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Bernie East®

Amerivest Realty

http://www.berniesellsnaples.com/

BEast@Amerivestrealty.com

239-248-1966

239-387-4112

239-687-4113 fax

Listingbook Free Login

Bernie East Sells Naples: Search for Properties in Naples, Bonita Springs

2009-07-05T06:37:00.001-04:00

Bernie East Sells Naples: Search for Properties in Naples, Bonita Springs: "Making Dreams come True.
Listingbook comes to Southwest Florida now you can search for your dream home or investment property from your home, office, or anywhere you have internet connection Listingbook is available 24/7 for your seaches.
See the properties you want, when you want.
_________
Timing is Everything.
Listingbook is continuously updated, every hour. Never miss a price change or new listing.
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The Real Scoop
Want more details on any home that interests you, Research any listing on the market and have acess to all the details on the property, including days on market, price history, tax data, multiple images, maps and more.
Morning Reports.
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Get a daily report that identifies new listings of interest, open houses in the area you are searching and more.
Please contact me to get started.
Bernie East
Amerivest Realty
239-248-1966"

www.Berniesellsnaples.com

Search for Properties in Naples, Bonita Springs

2009-07-05T06:04:00.002-04:00

Making Dreams come True.

Listingbook comes to Southwest Florida now you can search for your dream home or investment property from your home, office, or anywhere you have internet connection Listingbook is available 24/7 for your seaches.

See the properties you want, when you want.

_________

Timing is Everything.

Listingbook is continuously updated, every hour. Never miss a price change or new listing.

_________

The Real Scoop

Want more details on any home that interests you, Research any listing on the market and have acess to all the details on the property, including days on market, price history, tax data, multiple images, maps and more.

Morning Reports.

________________

Get a daily report that identifies new listings of interest, open houses in the area you are searching and more.

Please contact me to get started.

Bernie East

Amerivest Realty

239-248-1966

______________

BEast@Amerivestrealty.com

______________

www.BerniesellsNaples.com

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http://a96365.listingbook.com/?&page=home

2009 Naples FL Sales Report

2009-06-24T13:54:00.005-04:00

Naples FL Home Sales are on the Rise

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For the 3rd month in a row Naples homes sales are way up 590,619,719 as against 440,444,451 in 2007 and 487,504,493 in 2008, the market is getting a lot of short sales accepted by the Banks and foreclosures are selling at bargain basement prices, we are finding that the appraisers are being very conservative with their appraisals so mortgages can be a problem.

We have a lot of cash investors down here looking for properties.

_______________________________________________

Bernie East Realtor®

239-248-1966

http://www.berniesellsnaples.com/

BEast@Amerivestrealty.com

Amerivest Realty

December Sales up over November by 110 properties in Naples Florida

2009-01-12T13:02:00.004-05:00

Home sales show big jump in December 08-414 properties sold against 304 for November 2008.

Sales over the last 3 years are as follows,

2008-4739 homes sold.

2007-3911 homes sold.

2006-4516 homes sold.

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We are now seeing the Banks become more aggressive in selling their foreclosures, although short sales do not seem to getting the same response this maybe because a lot of the short sales have 2 loans on them and the lenders cannot come to an agreement on price, minimum time with a short sale seems to be around 60 days and a lot of buyers lose patience with the banks.

BERNIE EAST Realtor

239-248-1966

BEast@Amerivestrealty.com

www.Berniesellsnaples.com

2008-11-24T09:31:00.003-05:00

Affordable Gated Homes in Naples Florida
listed below include property photographs, virtual tours, and the ability to shop and compare properties from various communities. Each community has property specific information including maps and price per square foot.

Homes and Condominiums for each community shown below

The Shores 8 Priced from $230,000
9 Condos from $153,500

Forest Park 15 Priced from $215,000

Glen Eagle 2 4 Priced from $229,900
63 Condos from $169,000

Briarwood 23 Priced from $299,900
6 Condos from $159,900

Countryside 9 Priced from $345,000
54 condos priced from $139,000

Firano 3 Priced from $479,995

Ashton Place 4 Priced from $479,000

Please contact Bernie East 239-248-1966

www.Berniesellsnaples.com

BEast@Amerivestrealty.com

Naples FL Home Sales Through July 2008

2008-08-04T07:55:00.003-04:00

As you can see we are showing some positive signs that we are heading away from the bottom, with sales in April, May, June and July of 2008 improving over both 2006 and 2007.

I can tell you my phone and e-mails are really up these last four months after a poor start to 2008, sellers have finally realized that if you want you property sold it has to be priced according to the market, 2004 pricing is history.

___________________________________________

Bernie East®

239-248-1966

239-687-4113 fax

BEast@Amerivestrealty.com

http://www.berniesellsnaples.com/

Naples Condo For Sale $175,000

2008-05-05T08:39:00.006-04:00

Looking for a vacation Condominium here is a deal for You

Deauville Lake Club $175,000

OWNERS SAY BRING THEM AN OFFER ON THIS CONDOMINIUM PRICED TO SELL THE VIEW FROM THIS CONDO IS SPECTACULAR, This unit is freshly painted throughout with new carpet and it comes TURNKEY FURNISHED just bring your toothbrush. This community has so much going with an active social calendar it boasts 2 Clubhouses and 2 swimming pools, Spa, lighted tennis courts and shuffleboard, library and card tables. This is your opportunity to live in a very active or private community bring your clients to see this property they will not be disappointed with this condominium.

BERNIE EAST REALTOR®

239-248-1966

BEast@Amerivestrealty.com

AMERIVEST REALTY

Bernie's Real Estate Listings in Naples FL

2008-03-27T08:42:00.003-04:00

Please check out my Latest Video Listings in Naples Florida.

http://www.homezonemedia.com/etour.html/MLS/207020097/AID/28

http://www.homezonemedia.com/etour.html/MLS/207052564/AID/28

http://www.homezonemedia.com/etour.html/MLS/207004883/AID/28

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Are you looking for a great buy in Paradise of Naples Florida, the property is here to buy for your second home, your retirement home,or just a property to invest in. Please do not miss the boat, the bottom feeders are here, homes price under $300k showed an increase in number of sales for the first time in 28 months.

Contact me

Bernie East

Amerivest Realty

239-248-1966

www.Berniesellsnaples.com

ENACTS Meeting FEB 11th 4.00pm

2008-01-26T07:13:00.000-05:00

A meeting of ENACTS (East Naples Against County Transfer Site) is being called for Monday, February 11 at 4:00 p.m. at the Sherwood Clubhouse. We will present and discuss an update of the County meetings that have been held with Bill Kearney, Ron Rellinger, Bill Jones and Rudy Petorelli and County Transportation staff. In addition, we will discuss a strategy for future activities and review an update on the petitions and when they should be presented. Please plan to attend and bring a neighbor or friend who has been supportive of our efforts but has not had direct involvement. We are alive and well and your support and involvement is vitally needed. Hope to see you all on the 11th.

Real Estate for 2008

2008-01-25T05:52:00.000-05:00

ORLANDO, Fla. -- Jan. 24, 2008 --
Florida’s housing market followed the national trend in 2007, as mortgage industry issues and a sluggish economy impacted sales and prices. By year’s end, a total of 130,241 homes sold statewide for a 29 percent decrease compared to the 183,988 homes sold in 2006, according to the Florida Association of Realtors® (FAR). However, 2007 is expected to be the fifth highest sales year on record for existing-home sales, according to the National Association of Realtors® (NAR).“What we experienced during the five-year boom cycle (2001-2005) was not a normal housing market,” notes 2008 FAR President Chuck Bonfiglio. “It was a market like we have never seen before. Existing-home median prices went up statewide over the past five years by some 60 percent; prices only declined in 2007 from 2006 by 5 percent. People are still experiencing a sizable return on their investment if they have owned their home over the past six years. The outlook for 2008 is that the housing market should start to normalize, that we should see some gains by the end of the year. Continued efforts to resolve Florida’s property insurance and property tax issues will also help revitalize our state’s housing market.”The latest market outlook from NAR predicts that, as conditions for the mortgage industry continue to improve, existing-home sales should hold fairly steady over the next few months, rise later in the year and continue to improve in 2009. “A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008,” says NAR Senior Economist Lawrence Yun. “Our consumer survey shows buyers today are in it for the long haul, planning to stay in their home for a median of 10 years. This is a wise approach to housing because the data shows the longer you own, the better your investment.”Florida’s median sales price for existing single-family homes for year-end 2007 was $233,600; a year ago, it was $247,100 for a 5 percent decrease. The median is the midpoint; half the homes sold for more, half for less. At the end of 2002, the statewide median sales price for single-family homes was $137,800, for an increase of 69.5 percent over the five-year-period, according to FAR records.Sales of existing condominiums in Florida also decreased last year, with a total of 41,478 condos sold statewide compared to 56,877 in 2006 for a 27 percent decline, according to FAR. The statewide median sales price for condos at year-end was $205,100, down 3 percent from the 2006 year-end condo median price of $211,500. NAR reported the national median existing condo price was $223,500 in October 2007.Interest rates for a 30-year fixed-rate mortgage at the end of 2007 averaged 6.34 percent, according to Freddie Mac, down from the average rate of 6.41 percent at the end of 2006. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written. Among the state’s larger markets, the West Palm Beach-Boca Raton Metropolitan Statistical Area (MSA) reported 6,971 existing homes sold last year compared to 8,640 homes sold in 2006 for a 19 percent decrease. The market's median sales price for homes was $369,400; in 2006, it was $384,700 for a 4 percent decrease. A total of 5,674 existing condos changed hands in the MSA last year, down 8 percent from the 6,139 condos sold in 2006. The existing condo median sales price in 2007 was $198,000; in 2006, it was $220,400 for a 10 percent decrease.“It’s absolutely critical now for people to work with a knowledgeable local Realtor who can help guide them through the process of buying or selling a home,” says John Mike, president of the Realtors Association of the Palm Beaches and a Realtor-sales associate with Prudential Florida WCI Realty. “We’re more than just a technological resource for a real estate transaction: A professional Realtor is a fountain of information and knowledge to have on your side when making one of the biggest financial investments most people will ever make. Just like in the military, you need the right intelligence to make the right decisions. When you go out to do battle in the real estate market, you ought to be armed with the best intelligence on the local housing market and community. That’s what a local Realtor will provide.”Among the state’s smaller markets, the Gainesville MSA reported a total of 2,644 homes sold in 2007 compared to 3,174 homes the previous year for a 17 percent decrease. The existing home median sales price was $210,400; in 2006, it was $213,200 for a 1 percent decline. A total of 939 existing condos sold in the MSA last year compared to 1,284 condos sold in 2006 for a 27 percent decrease. The market’s existing condo median price was $154,900; in 2006, it was $153,400 for an increase of 1 percent.J. Parrish, president of the Gainesville Alachua County Association of Realtors and president of Coldwell Banker M.M. Parrish, Realtors, says retirement trends for baby boomers likely will benefit the area. “You hear the research on how boomers are retiring earlier than their parents did, and that they want a more active lifestyle,” he says. “Therefore, they’re retiring to places where they can find the amenities of continued education, sports and cultural activities associated with university towns like Gainesville.”
© 2008 FLORIDA ASSOCIATION OF REALTORS

Mortgage Market Update

2008-01-14T17:32:00.000-05:00

Keeping you updated on the market! For the week of January 14, 2008

Rollercoaster aficionados had a field day last week, for up-and-down volatility was the norm, not the exception. Countrywide Financial, the country's largest mortgage servicer, spent most of the week pressuring capital markets with rumors of bankruptcy, but then Bank of America rallied the markets by stepping forward and announcing it was purchasing the beleaguered mortgage giant in a $4 billion stock-exchange transaction.
Earlier in the week, the National Association of Realtors reported that pending home sales decreased 2.6% in November following a larger-than-expected 3.7% gain in October. But the grim outlook was tempered by Lawrence Yun, the NAR's chief economist, who said that although there could be some minor slippage in the first quarter, existing home sales should hold in a narrow range before trending up.
The disappointing pending-sales report was further mitigated by good news in the mortgage markets, where application volume both refinance and purchase surged 32.2% during the holiday shortened week ending Jan. 4, according to the Mortgage Bankers Association's weekly application survey.
What's more, application activity could surge again in coming weeks, thanks to plunging mortgage rates. By week's end, the prime 30-year fixed-rate mortgage averaged 5.87%, the 15-year fixed-rate mortgage averaged 5.43%, and the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.63%, according to Freddie Mac's weekly survey. Mortgage rates are now at levels unseen since Sept. 2005.

BAD MEDICINE
Bank of America's rescue of Countrywide was received positively last week, as it should have been; no one wants to see the country's largest mortgage servicer go under. But there was a disconcerting acknowledgment in the accompanying press release: The combined company won't make subprime mortgages and will limit its purchases of large packages of loans from other lenders.
That's too bad, because the current mortgage crisis has never been about subprime mortgages per say: It has been about the pricing of subprime mortgages, which didn't reflect the risks involved. Down payments, interest rates, and fees have to reflect borrower risk. This is the economic rationale for giving someone with an 800 FICO score a 6% loan with nothing down and giving someone with a 600 FICO score a 9% loan with 20% down. That paradigm broke down, and needs to be revisited. As homes become more affordable, the last thing we want is to exclude qualified people from the housing market, and that includes people who only qualify for subprime mortgages. The key to successful lending is to appropriately price the risk of lending. Hopefully more people will embrace that economic maxim once the credit crisis subsides.

Subject: Your Weekly Newsletter from Dave Petrucelli TIB Bank 239-552-1006 Direct

Bernie East Sells Naples: Bernie's Best Buys in Naples Florida

2007-12-17T13:24:00.000-05:00

Bernie East Sells Naples: Bernie's Best Buys in Naples Florida

Bernie's Best Buys in Naples Florida

2007-12-17T13:11:00.000-05:00

Upscale Community builders close out choose from 4 up to $150,000 off Lely Resort.

2000+Sq Ft 3 Bed 2B Pool home The Shores for under $400.

2500+Sq Ft Two Story 4 Bedroom Home in The Shores under $380.

Turnkey Furnished 1100+ Sq Ft 2B 2B Condominium under $190.

1800+sq ft Attached Villa built in 2005 in Forest Park under $250.

2200+Sq Ft 3+den Lake View with pool in Plantation under $360.

1600+sq ft Carriage Home on Golf course in Glen Eagle under $330

Pre-season Sale at Firano starting at $430,000

Ashton Place from under $500,000

Bernie East Realtor

Amerivest Realty of Naples Florida

239-248-1966

www.Berniesellsnaples.com

New Construction Deals in Naples

2007-11-06T08:56:00.000-05:00

Looking for a new home, Builders are at the moment offering great deals either move in now, or on build your own design with your choice of upgrades.

Call or E-mail me

239-248-1966

BEast@Amerivestrealty.com

WWW.Berniesellsnaples.com

OPEN HOUSE 9/2/2007 1.00pm - 4.00pm

2007-08-29T12:51:00.000-04:00

HOME FOR SALE IN LAGO VILLAGGIO AT GLEN EAGLE. $699,999

Beautiful "Villa Flora", two story home with magnificent designer swimming pool and spa, including four swim up seats. Situated at the far end of the pool is an elevated dining area. The rear of the home is private and secluded. This three den home is nicely decorated throughout. Features include large designer kitchen with upgrade appliances and beautilul granite countertops, kitchen bar area has wonderful finished wall design. Master bedroom suite is located on the ground floor.

Call Bernie East 239-248-1966 for directions

Amerivest Realty

INTERNATIONAL BUYERS

2007-07-30T17:04:00.000-04:00

Daily Real Estate News July 30, 2007

Survey Digs into Details of International buyers — foreign citizens who legally enter the United States to purchase a home — are making up a growing share of business for real estate practitioners, according to new research by the NATIONAL ASSOCIATION OF REALTORS®. NAR’s 2007 Profile of International Home Buying Activity shows that a quarter of REALTORS® report more international business in 2006 than five years ago. Nearly one in five respondents sold a home to an international client in the past year, and one-third say they believe foreign retirees are an increasingly important market in the United States. “Just as many U.S. residents are looking overseas for retirement and second homes, people in other countries are considering a home in this country,” says NAR President Pat V. Combs. As international boundaries of homeownership dissolve, you must stand ready to serve an increasingly diverse and multicultural marketplace, she adds. The research explored the characteristics of second-home purchases in the United States made by international clients. Here are six of the top findings, which reveal important trends that will help you tap into the expanding international niche:
Stronger preference for condos and apartments. In 2006, most international home buyers purchased single-family homes or townhomes, and like most domestic home buyers, they financed their purchase. However, they showed stronger preferences for condos/apartments when compared to U.S. home buyers; 22 percent of international buyers purchased condos/apartments, versus 12 percent of U.S. buyers.
More pay in cash. Twenty-eight percent of foreign buyers bought their houses with cash, compared to 8 percent of U.S. buyers.
Purchase pricier homes. The median sales price of homes purchased by international buyers was $299,500, which is significantly higher than the U.S. median of $221,900 during the same period.
Homes used for vacation, investment. Forty-seven percent of all international buyers purchased homes exclusively for vacation, while 22 percent were motivated primarily by investment. Nearly a third of foreign buyers cited both vacation and investment as reasons for their purchase. International homeowners spent an average of 4.2 months of the year in their U.S. property in 2006.
Buyers from Mexico most prevalent. A third of all international buyers are from Europe, but buyers from Asia and North America (outside the United States) each represent about one-fourth of the total market. Sixteen percent of all international buyers are from Latin America. By individual country, most buyers come from Mexico (13 percent), the United Kingdom (12 percent) and Canada (11 percent).
Florida leads the pack. Foreign buyers purchase homes across the United States, but 52 percent of sales in 2006 were concentrated in three states: Florida (26 percent), California (16 percent), and Texas (10 percent). The South attracted nearly half – 49 percent – of international buyers last year, while 31 percent purchased homes in the West.

2007-07-29T09:09:00.000-04:00

Bargain Hunting for Condos
Thinking of retiring to a formerly hot market? The slowdown has made parts of the Sunbelt a lot more affordable. Eugenia Levenson of Fortune Magazine presents a guide to finding the best deals in Naples. June 15, 2007.

It is just a 2 hour drive from Miami, but Naples is another world, as famous for its sun-drenched beaches as it is for the high-society snowbirds who fill them. The tiny resort town attracts everyone from retired NFL coaches, basked ball players, baseball players, golf pros, TV personalities and former auto execs. Judge Judy, Ted Turner, Mike Ditka, Marty Schottenheimer, Larry Bird, Ted Turner or maybe it's Jane Fonda, Greg Norman, Tom Cruise and Steven Spielberg to name a few.
During the real estate boom, Naples regularly landed at the top of housing analysts. overpriced market list. Last year a chill fell over this pristine town and its expansive golf courses. Pending condo sales dropped 43% from the first quarter to the fourth and the median prices fell 17% as buyers chose to wait out the frenzy.
But some experts say the market is starting to stabilize. While there is still excess inventory-a 36 month supply of new condos, plus another 42 months worth of existing units for sale-construction has halted and the glut is mostly in the lower end of the market. (Yes, Naples has a low end.) That means now might be the time for the skittish to come off the sidelines.
And buyers may be doing just that: Baker says three $2 million condos sold in the Aria last month. "The savvy second-home buyer is seeing that this is a good time," says Naples Area Board of Realtors President Spencer Haynes. "There is choice now and they might be able to negotiate a better deal. "For this ritzy enclave, that kind of opportunity doesn't come around often."

Call Bernie East Realtor®

239-248-1966

www.Berniesellsnaples.com

Amerivest Realty

OPEN HOUSE SUNDAY 29th 1.00-4.00pm

2007-07-27T16:13:00.000-04:00

118 PLANTATION CIRCLE FLORIDA 34104

One of the newest homes in Plantation with 3 Bedrooms looking out onto a new heated pool complete with high pressure wave action in deep end, multi colored mood light in pool & heated spa with waterfall and surrounded by paver deck. This great-room plan revolves around the expansive pool deck with tropical plantings and fruit trees and very large tropical gardens, very private and wide lot gives you that true feeling of Florida's tropical setting. The 14' vaulted ceilings, formal entry and glass sliders across the entire back of this home welcome you to one of the largest back yards, fully fenced in Plantation. Inside the warm Italian ceramic loors, solid surface countertops, polished gold bath fixtures and plant shelves provide a warmth and elegance to this special home. The family friendly community of Plantation offers Clubhouse with swimming pool, tennis courts and also very low HOA. Motivated Seller bring all offers.

BERNIE EAST REALTOR®

239-248-1966

AMERIVEST REALTY

WWW.BERNIESELLSNAPLES.COM

OPEN HOUSE 7/22/2007 1.00PM TO 4.00PM

2007-07-19T11:24:00.000-04:00

118 Plantation Circle Naples FL34104

Lovely Single Family Pool and Spa home 3 Bedroom 2 Bath with low Home Owner Fees.

VERY MOTIVATED SELLER

Bernie East Amerivest Realty

239.248.1966

www.Berniesellsnaples.com

OPEN SUNDAY 1.00pm - 4.00pm

2007-07-12T10:43:00.000-04:00

OPEN HOUSE SUNDAY JULY 15th 1.00-4.00

118 PLANTATION CIRCLE, RADIO ROAD EAST PAST SANTA BARBARA ENTRANCE ON RIGHT THEN TURN INTO SECOND 2ND CUL-DE-SAC ON LEFT.

Bernie East Realtor

Amerivest Realty
http://www.berniesellsnaples.com/
239-248-1966

OPEN HOUSE SUNDAY JULY 1st 1.00-4.00pm

2007-06-27T16:28:00.000-04:00

OPEN HOUSE SUNDAY JULY 1st 1.00-4.00

PLEASE COME VISIT MY NEW LISTING IN PLANTATION OPEN THIS COMING SUNDAY JULY 1ST 1.00-4.00pm.
118 PLANTATION CIRCLE, RADIO ROAD EAST PAST SANTA BARBARA ENTRANCE ON RIGHT THEN TURN INTO SECOND 2ND CUL-DE-SAC ON LEFT.

Bernie East Realtor Amerivest Realty
http://www.berniesellsnaples.com/
239-248-1966

COMPETIVE PRICING KEY TO SALES

2007-05-30T08:22:00.000-04:00

Getting a listing is good but only if it sells. Many Realtors face a daunting task today: How do you tell a seller that he should have a lower asking price – something less than the amount his neighbor got when his similar-sized home sold in 2006? Richard Coren, a Pembroke Pines seller, listed his home for $420,000 in November and it just sat there. Finally, he knocked $40,000 off the price based on advice from his Realtor, Cyndy Wald with the Keyes Co.’s Weston office. Wald says she told Coren that his $420,000 asking price was “yesterday’s news,” advice she gives all her clients. “We’re still in this correction phase,” Wald says. “They have to price it very competitively.” David Dabby, a Realtor in Coral Gables, notes that the relatively strong economy and still-affordable interest rates keep prices from falling even further – at least for now. Should either of those conditions change, however, a seller unwilling to accept a drop in asking price today could be forced to swallow an even greater loss tomorrow.
Source
Florida Association of REALTORS

May 25th New Home Sales Surge in April

2007-05-27T10:45:00.000-04:00

Daily Real Estate News May 25, 2007 New Home Sales Surge in April
Sales of new single-family homes jumped 16.2 percent in April, the largest increase in 14 years, but the median price fell 11.1 percent, marking the largest one-month decline on record, according to the Commerce Department.Analysts regarded the mixed signals cautiously, saying that troubles in the subprime market could further crimp demand in coming months.''What you're seeing is the blue-light special,'' says Pat McPherron, an economist with Moody's Economy.com. ''The only way this market is going to move is by price cutting.''The strength in new-home sales was led by a 27.8 percent increase in the South. Sales were also up in the West by 8.5 percent and in the Northeast by 3.8 percent. In the Midwest, sales fell 4 percent. Meanwhile, April's median new-home price of $229,100 made the record books as the largest-ever month-over-month decline, as well as the biggest year-over-year drop (10.9 percent) since 1970.
Source: The New York Times (05/25/07)

2007 Home Sale Prediction

2007-05-09T09:14:00.000-04:00

NAR: Soft Landing for Home Sales The NATIONAL ASSOCIATION OF REALTORS® still expects more than 6 million existing-home sales in 2007, but stricter lending standards and a decline in subprime mortgage origination have contributed to somewhat lowered expectations compared with earlier forecasts, according to the latest projections from NAR.Lawrence Yun, NAR senior economist, says one benefit for the market is the disappearance of speculative behavior, which contributed to abnormal price growth. “Home buyers today are purchasing for the long term, generally with a realistic expectation of modest gains over time,” Yun says. “Housing first and foremost is shelter.

Second, it’s a long-term investment that slowly builds the greatest amount of wealth for most families. It’s good that we’re getting beyond the tendency of some buyers to view housing as a temporary asset to accumulate short-term wealth, which is not to be expected in a normal market.”Housing ProjectionsNAR expects the following in home sales this year:
Existing-home sales are likely to total 6.29 million this year and 6.49 million in 2008, compared with 6.48 million last year.

New-home sales are projected at 864,000 in 2007 and 936,000 next year, lower than the 1.05 million in 2006.
Housing starts should total 1.46 million units this year and 1.52 million in 2008, down from 1.80 million last year.“If it weren’t for a favorable economic backdrop, housing would probably have a hard landing,” Yun says. “As it is, we see this as a soft landing with home sales rising gradually in the second half of the year and prices recovering a bit later.” The 30-year fixed-rate mortgage should rise slowly to 6.5 percent by the fourth quarter, NAR predicts. Last week, Freddie Mac reported the 30-year rate was 6.16 percent. The national median existing-home price is forecast to slip 1 percent to $219,800 this year, and then rise 1.4 percent in 2008. The median new-home price is expected to be essentially unchanged at $246,400 in 2007, and then rise 2.2 percent next year.The unemployment rate will probably average 4.6 percent this year, unchanged from 2006. Inflation, as measured by the Consumer Price Index, is estimated to decline to 2.5 percent in 2007, down from 3.2 percent last year. Growth in the U.S. gross domestic product is projected at 2.1 percent in 2007, lower than the 3.3 percent growth last year. Inflation-adjusted disposable personal income should rise 2.6 percent in 2007, the same as last year.—

REALTOR® Magazine Online

First Quarter Sales 2007

2007-05-07T09:55:00.000-04:00

NAPLES AREA BOARD OF REALTORS®REPORTS FIRST QUARTER TRANSACTIONS NAPLES

The Naples Area Board of Realtors® has released first quarter 2007 statistics for home listings and sales in Naples, utilizing the Board’s local reporting format.
In this report, only sales of homes within the Naples geographic area are being shown - specifically all areas in Collier County excluding Marco Island and other outlying areas - to reflect an accurate and relevant portrait of the local real estate market.
A summary of the statistics is presented in graph format, along with the following analysis.
New listings as of March 31, 2007, were 5,885 as compared to the record 6,851 reported in the first quarter of 2006, marking a drop of 14 percent.
Pending sales during the first quarter of 2007 were reported at 1,491, a slight decrease of 4.5 percent from the first quarter of 2006.
There were 939 closed sales reported at the end of the first quarter of 2007, a drop of 25 percent from the first quarter of 2006 which reported 1,250 closed sales.
The median sales price of homes sold during the first quarter of 2007 was $399,512. The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold.
It should be noted that in any given period the median can vary greatly if there is an anomaly, a single sale that is significantly higher or lower than other properties in the area.
With Naples Area Board of Realtors® members reporting continuing increases in showings to qualified buyers and pending sales indicating improved activity, the expectation is that the market will maintain an upward push.
Median pricing is again showing a rise, with an overall upward trend line over the long term. Median prices have not yet reached the level experienced during the record sales in early 2005 and first quarter 2006, but the value of the Naples location remains a strong draw for luxury second-home buyers and investors on the national and international level.
Inventory: As of April 1, 2007, there were 12, 123 active listings on the market. With 4,183 homes sold in the previous 12 months, it is calculated that the current inventory represents a 35 month supply.
The calculation of months’ supply is derived by dividing the total number of listings at the beginning of the month (Supply) by the number of sales which closed over the past 12 months (Demand). This way we normalize the data by utilizing the prior rolling 12 months closing statistics (Demand). This methodology illustrates a more realistic trend which takes into account market seasonality. After we calculate the years supply, we then multiply the years supply times 12 to get the months supply. This is the current method used by Hanley Wood Market Intelligence.

NEW CREDIT SCORE BASED ON RENT

2007-04-19T13:46:00.000-04:00

Utility PaymentsFair Isaac has launched the FICO Expansion Score to help prospective borrowers with minimal credit histories obtain loans and credit scores. The Expansion score gauges a borrower's creditworthiness using timely utilities and rent payments and clean checking accounts, among other factors. While car dealers and credit-card companies have already embraced the new scoring model, mortgage lenders are unlikely to do so unless Fannie Mae and Freddie Mac purchase the resulting loans.

Kiplinger's Personal Finance, Joan Goldwasser (03/07)

Year To Date Sales Numbers

2007-04-16T08:21:00.000-04:00

Well I think the housing bubble has repaired itself as you can see by the report above Naples housing sales are on the increase, maybe the properties are selling at more realistic prices at least we are showing some kind of recovery.

Stats provided by Nabor

Daily Real Estate News March 28th, 2007

2007-03-28T14:01:00.000-04:00

Mortgage Demand Up Almost 17 Percent Year Over Year

Demand for mortgages fell slightly last week compared to the previous one with the Market Composite Index decreasing 0.2 percent from 672.1. But on an unadjusted basis compared with the same week one year ago, applications were up 16.6 percent.The refinance share of mortgage activity decreased to 45.1 percent of total applications from 45.3 percent the previous week.The average interest rate for 30-year fixed-rate mortgages decreased to 6.04 percent from 6.06 percent.The average interest rate for 15-year fixed-rate mortgages decreased to 5.77 from 5.79 percent.The average contract interest rate for one-year ARMs decreased to 5.84 from 5.88 percent.

—REALTOR® Magazine Online

FORECLOSURES LIKELY TO SET RECORD IN 2007

2007-03-27T16:06:00.000-04:00

Foreclosures slipped 4 percent in February from the month earlier, but were 12 percent higher than the same time in 2006."Based on our numbers for the first two months of 2007, foreclosure activity is running at a rate that would project to a 33 percent increase over 2006," said James J. Saccacio, chief executive officer of RealtyTrac.States with the highest foreclosure rates in February were Nevada, Colorado and Florida. Nevada had one foreclosure filing for every 278 households. Colorado reported one foreclosure for every 345 households, and Florida had one foreclosure filing for every 382 households. Nationwide, there was one foreclosure for every 884 households.

SOURCE– REALTOR® Magazine Online

SUBPRIME FALLOUT

2007-03-26T18:51:00.000-04:00

Home Owners vs. Banks Financially-strapped and bankrupt home owners are pointing the finger at banks and mortgage brokers for selling them on the idea of subprime mortgages. Doug Duncan, chief economist for the Mortgage Bankers Association in Washington, D.C., acknowledges that in some cases aggressive lenders obscured facts and made loans that borrowers couldn't afford. But he, like other lenders, says it was the responsibility of borrowers to read and understand what they signed.About 50 percent of the subprime mortgages were "stated income loans," with no verification of borrowers' incomes, says Paul Leonard, director of the California office of the Center for Responsible Lending.Last year, the Mortgage Asset Research Institute sampled 100 such loan applications and reported that 90 percent listed significantly higher incomes for borrowers than they had reported on their tax returns."Borrowers need to protect themselves and need to read what they're signing,” says Nick Larson, an assistant vice president at the Mortgage Asset Research Institute. “At the end of the day, bottom line, you can't stress this enough: The person who is signing the papers is committing themselves financially.

”Source: Associated Press, Alex Veiga (03/25/07)

Real Estate is looking up

2007-03-26T11:23:00.000-04:00

UF: Residential Development May Have Bottomed Out

Survey of Emerging Market Conditions, Q1 2007 FindingsExecutive Summary & ConclusionsThe most important finding from the January round of our Survey of Emerging Market Conditions is that residential development may have bottomed out. Given the scale of the residential development market, this would be good news for all real estate markets and for Florida in general. Meanwhile, most other real estate markets are stable, if not improving, giving a sense that almost all is nearly well in the land. An exception may be condominium markets and apartments for condo conversion that continue to struggle, though they, too, are perceived to be improved.
In brief, leading observations include the following:- Residential absorption rates are expected to stabilize for both single family development and condo development.- Residential prices are expected to lag inflation, but fewer respondents look for actual declines than previously did.- Investment in single family residential development is no longer regarded as clearly a poor prospect, though condo development, while improving, has further to go.- All types of rental property except hospitality are viewed more favorably as investment opportunities than they were in the previous survey, and generally are viewed as positive opportunities.- The outlook for respondents' own business, which has declined steadily in the last year, remained stable relative to the previous quarter.
For more detail visit their website:http://www.cba.ufl.edu/fire/realestate/cres/findings.asp

South East Naples Real Estate Report

2007-03-26T10:10:00.000-04:00

Welcome to my report these numbers are provided by the Sunshine Mls

NA 17 north of Davis Blvd

Homes on market 1123.

Avg List pric $363,937.

#of sales 422.

Sales price to list price 96%

NA 18 north of Rattlesnake Hammock south of Davis Blvd.

Homes on the market 925.

Avg List price$361,520.

# of sales305.

Sales price to list price 94%

NA19 south of Rattlesnake north of 41 east of 951.

Homes on the market 719.

Avg list price $505,783.

#of sales 155.

Sales price to list price 92%.

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Bernie East 239.248.1966

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