Tuesday, September 27, 2011

MOVING TIP OF THE DAY
#180
When decorating a room, remember that the color palette you choose will influence your furniture and accessories and set the mood.

Spring buying boosts U.S. home prices for 4th month


WASHINGTON – Sept. 27, 2011 – Home prices rose for a fourth straight month in most major U.S. cities in July on the strength of the peak buying season. But the housing market remains depressed, and prices are expected to decline in the coming months.


The Standard & Poor’s/Case-Shiller index shows home prices increased in July from June in 17 of the 20 cities tracked.

Over the past 12 months, prices fell in all but two cities – Detroit and Washington. Prices rose sharply in Minneapolis and Chicago. Prices in Las Vegas and Phoenix declined.

Housing is a key reason the economy has struggled more than two years after the recession officially ended. Home sales are on pace this year to be the worst since 1997.

Tuesday, September 20, 2011

MOVING TIP OF THE DAY
#173
Choose eco-friendly flooring such as natural fibers, reclaimed wood and recycled materials for a unique, personalized look.

Real Estate Briefs - Cape Coral Daily Breeze

upturn in market
In April 2011, General Manager Michael Gay of the Fort Myers division for Adams Homes reported seeing a positive turn in the local market. He brought in Bill Panebianco to start building a super sales team, and Adams has increased its staff by 300 percent since April.
According to company officials, sales have been so good that company founder Wayne Adams is reopening The Lehigh Acres Model on Lee Boulevard in Lehigh. Adams will be building in the Greenbrier area of Lehigh Acres. Prices will start at $77,900 for a 1,540-square-foot home, up to $141,900 for the popular 3,000-square-foot model.
Tarpon Landings
re-released for sale
Fewer than 70 condominium homes remain at Tarpon Landings, a high-rise community located in Tarpon Point Marina in Cape Coral, announced sales manager Lauren Snyder-Hagan. Previously in foreclosure, the community was recently re-released for sales, with more than 22 homes being sold in the last 30 days.
Tarpon Landings is a gated village with 210 condominium homes in three, 14-story buildings, offering a birds-eye view of the Caloosahatchee River, the Gulf of Mexico and beyond. The remaining 70 homes range in size from 2,888 to 3048 square feet of air-conditioned living space and are priced from the mid $500s. Penthouses range from 4,424 to 5,296 square feet with prices available upon request.
Tarpon Point Marina is at the south end of Pelican Boulevard. The sales center for Tarpon Landings is located at 5911 Silver King Blvd., unit 114, on the Promenade. Call the sales center at 239-541-5025 or visit www.TarponPoint.com
Wilkinson to explain latest trends
in property values and future forecast
Lee County Property Appraiser Ken Wilkinson will deliver a wide-ranging view of current trends in property values, variations in local market sectors and projections for the future at the Real Estate Investment Society Tuesday, Sept. 13, luncheon meeting.
Wilkinson will review the recent history of land and commercial property values, analyze the factors affecting values and explain what is happening with commercial properties in different submarkets within Lee County.
He will also reveal the latest resources available on the property appraiser's website and how real estate professionals can use them to evaluate properties and sales trends.
Wilkinson recently represented Florida on a mission to China to guide that country in establishing a system for property appraisal and taxation and is expected to relate highlights of the trip. After his presentation, Wilkinson will respond to specific questions from the attending real estate development and investment professionals.
The meeting is sponsored by Pavese Law Firm, and will begin at 11:30 a.m. Sept. 13, in the Osprey Room at Pelican Preserve's Clubhouse, on Treeline Avenue at Colonial Boulevard, one mile east of I-75, exit 136, in Fort Myers.
Admission is $25 for members and $35 for guests, which includes lunch. Reservations are required by Sept. 7 and may be made at the REIS web site: www.reis-swfl.org.
For further program information, contact Kim Donnelly at 239-768-4522.
Root ranked as top agent
for sales voiumne in July
Miloff Aubuchon Realty Group has announced that Steve Root was recently ranked the No. 1 agent in sales volume for July 2011 in Cape Coral, and the No. 2 agent in Lee County for the same time period, according to company officials. He specializes in residential and commercial real estate.
Root Joined Miloff Aubuchon Realty Group in 2010 and quickly found his niche in the commercial real estate sector. Originally from Canton, Ohio, he made his way to Southwest Florida continuing his banking career at Fifth Third Bank in Naples, as senior vice president and consumer loan statewide manager. By 2004, he and his banking colleague and friend, Chris Ferrer, had joined forces to co-found the Community Bank of Cape Coral, where Root later served as CEO for several years.
After an early retirement, he made the decision to take on a second career and obtained his real estate license. He currently leads the commercial division of Miloff Aubuchon Realty Group.
37 single-family homes permits issued in August
in unincorporated Lee County
During August, contractors pulled 37 permits to build single-family houses collectively valued at $10.2 million in unincorporated Lee County. That compares to 29 permits issued in July and 17 issued in August 2010, according to the Lee County Department of Community Development.
Permits were issued for 18 multi-family units - three duplexes and three four-plexes - compared to four units in July. No permits for multi-family units were issued in August 2010.
Permits for 11 new commercial structures were valued at nearly $10.8 million in August, pushing the year-to-date total over $103 million. That's the first time since 2007 that commercial permitting in unincorporated Lee County has exceeded $100 million.
This year's total is due mostly to construction of the new Red Sox ball park and training facility. Commercial permitting was valued at $4.4 million in July and $4.6 million in August 2010.
A total of 2,748 permits of all kinds were issued during August, and more than 20,850 have been issued so far in 2011. That includes permits for 272 single family homes.
Lee County Community Development oversees planning, zoning, development and building services, environmental review, building inspection, and code enforcement for the unincorporated areas of Lee County.
To learn more about the department and its services, visitwww.lee-county.com/dcd/.
Stout, Schafer join
Miloff Aubuchon Realty Group
Cape Coral Real Estate Company and foremost leader in home building and real estate solutions, Miloff Aubuchon Realty Group, announces Donna Stout and Michele Schafer have joined the company as Broker Associates specializing in residential and commercial real estate.
Stout and Schafer have been business partners since 2008.
The Aubuchon Team of Companies is comprised of several entities designed to meet residents' every need in the home-buying and home-building process, including building, remodeling and investing. The company's goal is to make every customer a raving fan.
Team Aubuchon in-cludes Cape Coral real estate and home building company: Miloff Aubuchon Realty Group, Aubuchon Homes, The Sterling Collection, and Evalutions by Aubuchon.

Monday, September 19, 2011


MOVING TIP OF THE DAY
#172
Is your child is climbing out of her crib? Take advantage of moving time by donating the crib and transitioning to a toddler or twin-size bed.

Cape Coral taps Dana Brunett as new New Economic Development Director

City Manager Gary King has selected Dana Brunett as the Cape Coral’s new Economic Development director. Brunett is from Hilton, N.Y.
“Economic development is one of the City’s most important priorities, and Dana has more than 20 years of experience in the economic development field in New York,” said City Manager Gary King. “His skills and personality are a great match for our economic development team, and he will play a major role in our efforts to attract businesses to the Cape.”
Since July 2004, Brunett has been the Senior Director for Economic Development with the PathStone Corporation, a non-profit community development corporation in Rochester, NY. The Pathstone CDC is a $46 million agency that operates in seven states and Puerto Rico. He is the President of the Pathstone Enterprise Center, which provides direction and assistance for small businesses in Upstate New York. He also worked for the City of Rochester, NY in their Economic Development Department for nearly 10 years.
Brunett has a Bachelor’s degree in Economics from State University of New York at Fredonia. He will begin his new duties on Monday, October 17. His salary is $105,000.

Friday, September 16, 2011

Florida bouncing back, and recession not likely, report says

MIAMI – Sept. 16, 2011 – Florida’s improving economy should avoid recession, even as the recovery fights significant headwinds from a devastated real estate industry.

That’s the conclusion from the latest outlook for the Sunshine State by Wells Fargo, which sees South Florida and Tampa leading the rebound in hiring this year. Both markets have seen modest job growth in recent months, and payrolls are up about 1 percent in both regions during the last three months.

“Florida is slowly battling back from its worst recession in modern times,’’ the report reads. Wells Fargo expects economic growth to hit 2.2 percent next year in Florida, despite growing anxiety that the nation is heading for a second recession.

The Wells Fargo report credits a strong rebound in foreign tourism for Florida’s improving fortunes, with South Florida and Orlando enjoying outsized boosts from their popularity with travelers from Europe and Latin America.

Still, South Florida gets special mention in the report as a particularly troubled region. “South Florida’s recovery from the Great Recession has been painfully slow,” the report reads. Among the biggest problems Wells Fargo cites: nearly 40 percent of the region’s mortgages are either
in foreclosure or at least 90 days overdue, compared to the national average of 11 percent.
MOVING TIP OF THE DAY
#169
Remove trash the eco-friendly way by recycling, composting and utilizing green trash removal companies.

RE/MAX: Annual home sales up 18%


Thursday, September 15th, 2011, 5:12 pm

Home sales are experiencing the equivalent of an Indian Summer.

August home sales are up year-on-year, as nationwide house prices continue to fall, according to Denver-based real estate agent network RE/MAX.

August home sales reached a level 18% higher than August 2010, according to the latest RE/MAX national housing report.

Normally, June is the highest sales month for homes. This year both July and August show higher numbers.

"We’re pleased to see transactions pushing higher in August and without any artificial stimulus," said Margaret Kelly, CEO of RE/MAX, in a statement. "Although the housing recovery will continue to be uneven, the market is struggling to return to normal despite uncertainty in the economy and stubborn unemployment rates."

The median sales price for August was $189,831. This is just 0.6% below the price in July and 3.6% below the price in August 2010.

The report shows that in the 53 metro areas surveyed, 47 experienced a rise in home sales from 2010. The top risers are Pittsburgh, up 60%, Minneapolis, up 48.4%; Albuquerque, up 43.0%; Milwaukee, up 37.1%; Seattle, up 29.4%; Phoenix, up 26.4%; and Chicago, up 25.7%.

Tuesday, September 13, 2011

MOVING TIP OF THE DAY
#166
As soon as you begin to unpack, use smart kitchen storage ideas to maximize the space you have

Gov’t mulls expanding mortgage refinance program

WASHINGTON – Sept. 12, 2011 – The federal government is looking at how it could help a greater number of homeowners who owe more than their house is worth refinance at today’s historically low rates.

The Federal Housing Finance Agency said Friday that it has been reviewing a program launched two years ago to see if it could be expanded so more homeowners could qualify. The announcement was made in a statement released a day after President Barack Obama mentioned the idea in a speech to Congress.

The Home Affordable Refinance Program, or HARP, allows people whose homes are underwater by as much as 20 percent to refinance their mortgages at lower interest rates. Banks typically require that homeowners have some equity before approving a refinance loan.

The program gives homeowners a chance to reduce their mortgage payments by hundreds of dollars per month. But many people are not eligible for the program because their home values have fallen much further.

Edward J. DeMarco, the housing agency’s acting director, said officials are “carefully reviewing the mechanics” of the program to “identify possible enhancements that would reduce barriers for borrowers already otherwise eligible to refinance using HARP.”

The program only covers mortgages created before June 2009 and owned or backed by government-controlled mortgage buyers Fannie Mae and Freddie Mac. Borrowers also must be current on their payments.

This week, the average rate on a 30-year fixed mortgage fell to 4.12 percent. That’s the lowest level in six decades.

As of July, more than 838,000 homeowners had refinanced through the program. Officials had hoped at least 4 million Americans would take advantage.

Sunday, September 11, 2011

MOVING TIP OF THE DAY
#164
Choose outdoor window coverings that reflect your personal taste and fit the architectural style of your house and neighborhood.

Not all homeownership expenses are tax-deductible

Real Estate Tax Talk

BY STEPHEN FISHMAN, FRIDAY, SEPTEMBER 9, 2011.
Inman News™

Most people know that homeownership comes with great tax breaks: home mortgage interest and property taxes are deductible from federal income tax as itemized deductions. The value of these deductions should always be factored in when determining the true cost of homeownership.


However, homebuyers should be aware many of the costs of buying and owning a home are not deductible.


You cannot deduct any of the following items:

  • insurance (other than mortgage insurance premiums), including fire, title and homeowners insurance
  • rent for occupying the home before closing
  • wages you pay for domestic help
  • depreciation
  • the cost of utilities, such as gas, electricity, or water; or forfeited deposits, down payments, or earnest money.
  • Real estate taxes

Homeowners can deduct property taxes based on the assessed value of their real property. However, not all charges imposed on homeowners by local taxing authorities are deductible. These nondeductible charges include charges for services.

Thursday, September 8, 2011

Lehigh to get $1.8 Million in New Parks, Add-Ons

LEE COUNTY, Fla. - By the end of next year, Lehigh Acres could have $1.8 million in new parks and park improvements.
The money, which comes from impact fees, will help fund add-ons to the existing Veterans Park and help build two new parks. One park will sit on the old Admiral Lehigh Golf Course property, which the county says is mostly unused and not the best sight to behold.
"We're keeping it mowed down at the moment," says Debbie Derums, manager of Lee County Parks and Recreation's East Region. "Few people are walking on it, but it's not developed. "It's mostly weeds and overgrown grass, but in a year and a half, Derums says it could be home to a half-mile trail, bathrooms, shelters, and fitness center. The county will also get roughly $126,000 in grant money to help out with the project.
In the same time frame, Derums says Veterans Park could also add a new playing field and a dog park. The canine-friendly facilities would be welcome for dog owners, who are currently prohibited from bringing pets on the property. "There's a dog park in Fort Myers, but honestly it's not really convenient for me," says Lehigh resident Dominque Sanchez.

Tuesday, September 6, 2011

MOVING TIP OF THE DAY
#159
Low credit score = lower chances of getting a mortgage or higher rates. Take steps now to get that score up!

37 permits for single-family homes issued in August in Lee County

September 1, 2011
Cape Coral Daily Breeze
During August, contractors pulled 37 permits to build single-family houses collectively valued at $10.2 million in unincorporated Lee County. That compares to 29 permits issued in July and 17 issued in August 2010, according to the Lee County Department of Community Development.
Permits were issued for 18 multi-family units three duplexes and three four-plexes compared to four units in July. No permits for multi-family units were issued in August 2010.
Permits for 11 new commercial structures were valued at nearly $10.8 million in August, pushing the year-to-date total over $103 million. That's the first time since 2007 that commercial permitting in unincorporated Lee County has exceeded $100 million. This year's total is due mostly to construction of the new Red Sox ball park and training facility. Commercial permitting was valued at $4.4 million in July and $4.6 million in August 2010.
A total of 2,748 permits of all kinds were issued during August, and more than 20,850 have been issued so far in 2011. That includes permits for 272 single family homes.
Lee County Community Development oversees planning, zoning, development and building services, environmental review, building inspection, and code enforcement for the unincorporated areas of Lee County.
To learn more about the department and its services, visitwww.lee-county.com/dcd/.

Monday, September 5, 2011


MOVING TIP OF THE DAY
#158
Labor Day means possible parade routes right in the path of your move. Make sure to check with city schedules to avoid log jams.

Zillow: Southern states dominate list BY INMAN NEWS, FRIDAY, SEPTEMBER 2, 2011. Inman News™

10 metros with greatest 5-year gain in real estate values 

Online real estate valuation and search company Zillow has calculated the 10 U.S. metro areas that have experienced the largest gains in home values over the past five years, based on the company's home-value estimates and its Zillow Home Value Index, which is generated from those value estimates.
Markets in the Southern U.S. dominate the list, accounting for eight of 10 markets. Of the other two markets, one is in upstate New York and the other is in the Pacific Northwest.
The five-year gains in estimated value range from 0.6 percent to 16.9 percent, while the estimated gains in dollar value range from $667 to $21,444.
Methodology: Zillow's Zestimate home valuations are the basis for the Zillow Home Value Index. A Zestimate is Zillow's estimate of the current market value for a home. The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Zillow generates valuations several times a week on more than 70 million homes, or roughly three out of four homes in the U.S., and calculates historical values dating back to 1997.
The statistical models underlying the Zestimates control for the mix of housing for sale by finding patterns in the types of homes that are selling and then applying these patterns to all homes. If only a few homes of a certain type sell in a given period, the models can extract the information from those sales and apply that information to all homes of that type. --Source: Zillow.

Jacksonville, N.C.


July 2011 Zillow Home Value Index$148,099
ZHVI 5 years ago$126,655
Value difference (by percent)16.9%
Value difference (in dollars)$21,444

Boating near Jacksonville, N.C. Image courtesy of dougtone.
...CONTINUED

Friday, September 2, 2011


MOVING TIP OF THE DAY
#155
Whether you hire professional boat movers or know how to move a boat yourself, take the right steps to prepare your boat for transport.

37 permits for single-family homes issued in August in Lee County


Cape Coral Daily Breeze
During August, contractors pulled 37 permits to build single-family houses collectively valued at $10.2 million in unincorporated Lee County. That compares to 29 permits issued in July and 17 issued in August 2010, according to the Lee County Department of Community Development.
Permits were issued for 18 multi-family units three duplexes and three four-plexes compared to four units in July. No permits for multi-family units were issued in August 2010.
Permits for 11 new commercial structures were valued at nearly $10.8 million in August, pushing the year-to-date total over $103 million. That's the first time since 2007 that commercial permitting in unincorporated Lee County has exceeded $100 million. This year's total is due mostly to construction of the new Red Sox ball park and training facility. Commercial permitting was valued at $4.4 million in July and $4.6 million in August 2010.
A total of 2,748 permits of all kinds were issued during August, and more than 20,850 have been issued so far in 2011. That includes permits for 272 single family homes.
Lee County Community Development oversees planning, zoning, development and building services, environmental review, building inspection, and code enforcement for the unincorporated areas of Lee County.

Thursday, September 1, 2011

July Home Price Index Shows Fourth Consecutive Month-Over-Month Increase

SEATTLE – Sept. 1, 2011 – CoreLogic’s July Home Price Index (HPI) finds that home prices in the U.S. increased for the fourth consecutive month, inching up 0.8 percent on a month-over-month basis. On a year-over-year basis, however, national home prices, including distressed sales, declined by 5.2 percent in July 2011 compared to July 2010.

Excluding distressed sales, year-over-year prices declined by 0.6 percent in July 2011 compared to July 2010, and by 1.9 percent in June 2011 compared to June 2010. Distressed sales include short sales and real estate owned (REO) transactions.

“While July’s numbers remained relatively positive, particularly for non-distressed sales which have been stable, seasonal influences are expected to fade in late summer,” says Mark Fleming, chief economist for CoreLogic. “At that point, the month-over-month growth will most likely turn negative. The slowdown in economic growth and increased uncertainty caused by the recent stock market volatility will continue to exert downward pressure on prices.”

July 2011 Home Price Index highlights

• Including distressed sales, the five states with the highest appreciation were: West Virginia (+14.0 %), New York (+3.3 %), Wyoming (+3.2 %), Mississippi (+2.4 %), and the District of Columbia (+2.3 %).

• Including distressed sales, the five states with the greatest depreciation were: Nevada (-12.2 %), Arizona (-11.9 %), Illinois (-10.0 %) Minnesota (-8.6 %), and Idaho (-7.8 %).

• Excluding distressed sales, the five states with the highest appreciation were: West Virginia (+16.8 %), South Carolina (+5.5 %), New York (+4.1 %), Wyoming (+3.8 %), and North Dakota (+3.6 %).

• Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-9.6 %), Arizona (-8.1 %), Delaware (-6.5 %), Minnesota (-5.7 %), and Michigan (-4.7 %).

• Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to July 2011) was -30.5 %. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -20.7 %.

• Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 86 are showing year-over-year declines in July, two fewer than in June.

CoreLogic offers the full report in exchange for contact information. For more information or to read the full report, visit CoreLogic’s website. (Link underlined to: http://www.corelogic.com/About-Us/ResearchTrends/Home-Price-Index.aspx)

The CoreLogic HPI uses more than 30 years’ worth of repeat sales data, representing more than 65 million observations sourced from CoreLogic property information and its securities and servicing databases

MOVING TIP OF THE DAY
#154
Weigh the pros and cons before dating your neighbor. It's convenient, but a potential ending can cause an uncomfortable living situation.

10 Reasons To Buy Investment Properties In Cape Coral, FL

Should you buy investment properties in Cape Coral, FL? We’ll focus on practical reasons you’d want to invest in the Cape Coral real estate...