Tuesday, January 31, 2012

Consumer Confidence Surges In Florida

A University of Florida survey says consumers feeling as confident as they did at the start of 2011, before fears of a second recession gave them the jitters.

Floridians feel better about their finances and the economy, joining a nationwide trend of cheerier consumers.The University of Florida’s monthly gauge of consumer confidence across the state showed a big gain in how people feel about their personal finances and the nation’s.

UF’s announcement said Floridians in January were more optimistic about their finances than at any time since March 2008. The survey’s measure of Floridians’ outlook on the U.S. economy also increased “dramatically,” UF said. Overall confidence is also back to where it was at the start of 2011.

Chris McCarty, director of the survey, noted confidence has essentially wiped out all the ground lost in 2011, returning the measure back to where it was a year ago. The measure reflects ebbing fears that a second recession might be underway, but also is a reminder that confidence can be fleeting.

“The question is was this some sort of euphoric bump, or are we getting some real traction here?” McCarty asked. He noted consumer spending remains iffy, with gains in income landing in savings accounts rather than cash registers.

The news came on the same day that the Case-Shiller housing index showed South Florida real estate continues losing value. Prices were down nearly 5 percent in November compared to 12 months earlier, a dip that means a 51 percent loss in value since prices peaked in 2006.

Rebounding confidence in Florida parallel results of a University of Michigan study that show consumer confidence across the nation shot up from 69.9 in December to 75 in January. The Michigan survey focuses on personal finance and the overall economy.
A separate national survey by the Conference Board measures confidence as it relates to job security and employment prospects. That showed a dip in January, the board announced Tuesday.

Read more here: http://www.miamiherald.com/2012/01/31/2617071/confidence-surges-in-florida.html#storylink=cpy

Tuesday, January 24, 2012

Learn the Real Estate Basics of Concurrent Ownership

If you’re looking to purchase real estate, you’ll probably come across many terms you don’t know — including concurrent ownership. This essentially means that more than just one individual can own property. You might be extremely interested in the details of concurrent ownership if you’re purchasing a property with another person, are married or have children.
It’s always good to educate yourself so you can assess all your options (and maybe show off to your  real estate agent and loved ones if you happen to come across this term during your house hunt). Below is the basic breakdown of the four main types of concurrent ownership.
1. Joint Tenancy with the Right of Survivorship – This means that all owners retain equal share of the property. In the event that one of the owners dies, their share of the property is distributed equally among the remaining owners. Be sure to use specific language in your deed or will, otherwise the property might be considered tenancy in common.
2. Tenancy in Common – One or more people own the property, but the shares might not be equal. Also, if one owner dies, the property is passed by will or inheritance, not necessarily to the other owners.
3. Tenancy by Entirety – This type of concurrent ownership is usually between a husband and wife. It states that the entirety of the property passes to the spouse upon one of their deaths. A divorce in most cases will change the tenancy of entirety to tenancy in common.
4. Community Property – Not all states recognize this type of joint ownership. However, if your state does, then all property acquired during a marriage is communal, while anything owned before the union or anything inherited or gifted would remain separate property in the case of divorce.
By knowing the various definitions of concurrent ownership, you’ll be able to ensure that any commonly owned property will be distributed the way you see fit in case of death.
Whether you’re thinking about purchasing Cape Coral and Fort Myers, FL real estate by yourself or with multiple people, I’d love to help, please visit my website at www.capecoralfloridahomes.net Please call me today at 239-560-1574 or email me  for more information.
The 524-acre master-planned community of Sandoval is the shining star of the Cape Coral real estate market.  New construction home sales at Sandoval were up 74% in 2011 over the previous year with a total of 120 transactions.  New home permits at Sandoval in 2011 accounted for 44% of all the building permits issued in Cape Coral.
Unlike neighboring Fort Myers, Cape Coral has very few gated communities and the ones that are here tend to be very popular with buyers.  Sandoval offers a resort-style experience with an extensive roster of community amenities for a wide-range of buyer interests.  Residents enjoy the upscale pool, fitness center, sports fields, dog park and two mile linear park that anchors the community.  Sandoval is located off Veterans Parkway for convenient access to Fort Myers, the beaches, RSW and more.
If you are interested in further exploring Cape Coral’s true resort community, here is a resource to view active Sandoval real estate listings.

Thursday, January 12, 2012

Cape housing market showing improvements

CAPE CORAL, Fla.- The local real estate market has taken its share of the housing heat. Southwest Florida is frequently on the list as one of the hardest hit areas in the country. But now, we're getting some positive news.  
Call it a comeback for Cape Coral. After years of ranking among the worst housing markets in the country, it's finally seeing some positive signs that the worst here may be over.  A new report from the National Association of Builders lists the Cape as one of the "most improved" housing markets of the year. And business leaders are hoping the rest of the local economy follows suit.
Cape Coral and Punta Gorda are two of 76 housing markets showing improvement across the country. A hint that recovery has spread to Southwest Florida.
The Improving Markets Index measures employment growth, home price appreciation, and single-family housing permits. It does not look at foreclosures specifically. Brand new numbers from Realty Trac show Cape Coral/Fort Myers ranks 15th for the most foreclosures in top metro areas, a vast improvement from a number two ranking just over a year ago.
Realty Trac's year end report shows 1.9 million U.S. properties received foreclosure filings in 2011. One in every 49 florida homes received a filing. In the Cape Coral/Fort Myers metro area, 3.29 percent of properties went in to foreclosure last year. That's a decrease from 2010.

Tuesday, January 10, 2012

Firm upbeat about S. Fla. home prices in 2012 | Poll

The nation’s home prices should continue to stabilize in 2012, according to a California-based real estate research company that’s bullish on Florida in particular.
Clear Capital projects Miami-Dade and Broward counties, counted as one metro area, to be among the nation’s five highest-performing major metros with price growth of 8.8 percent this year.
Orlando is expected to lead the nation with price increases of 11.7 percent, while Tampa also is forecast to rank among the national leaders. Clear Capital analyzed the county’s 50 largest metro areas by population, so Palm Beach County was not part of the study.
Other forecasts for home prices in 2012 aren’t as optimistic. Some analysts say prices will continue falling in South Florida well into the year and may not hit bottom in some areas until 2013.
Clear Capital says Florida markets are improving, partly because of big increases in the values of lower-priced homes and a high percentage of all-cash transactions (52 percent). Investor activity remains strong in the Sunshine State, helping to boost demand.
Despite the improvement, Florida markets remain far off their price peaks from 2006.
“Overall, 2011 was a relatively quiet year for U.S. home prices compared to the last five years,” Alex Villacorta, director of research and analytics at Clear Capital, said in a statement. “With national prices down a little more than two percent for the year and sitting at their lowest point since 2001, our projections show that the current balance the market has found will continue through 2012.”

Friday, January 6, 2012

Should You Buy Florida Real Estate In 2012?

Should You Buy Florida Real Estate In 2012?

Should You Buy Florida Real Estate In 2012? Well lets talk turkey about Florida Real Estate market and economy. Florida, as you may already know was one of the states hit hardest by the bursting housing bubble. 2012 looks to be promising year. With US. Troops home and consumer spending up. We can all hope for better day in the sunshine state. However there was a report that
Florida is getting hit the hardest by the first round of store closures announced by Sears Holdings(SHLD) .

Here’s what you need to know when buying Florida Real Estate:
  • How To Avoiding Chines Drywall
  • Should You Buy Distressed Properties
  • Best Area For Buying a Florida Home
  • Should You Sell Your Florida Home
  • How To Find The Best Realtor /AgentThere are so many factors when purchasing Florida Real Estate. However with that said and out the way. The good part about buying Florida Real Estate is the saving. You can buy a home that once sold for $500,000 and buy that same house for $250,000. This may be a distress sale, REO, Foreclosure home.
    Whats a Distress Sale?Distressed Sale - Definition of Distressed Sale on Investopedia – When property, stocks or other assets are sold in an urgent manner, often at a loss
    What Is REO Homes?
  • REO is an acronym for real estate owned and is used in the context of foreclosed properties owned by the lender or bank.What Is Foreclosure?
  • Foreclosure is to shut out, to bar, to extinguish a mortgagor’s right of redeeming a mortgaged estate. It is a termination of all rights of the homeowner covered by a mortgage. Foreclosure is a process in which the estate becomes the absolute property of the lending institution.Find Florida Foreclosure Homes Here

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Housing Market In South Florida Ripe For The Picking

  Housing market in South Florida ripe for the picking By Todd Wilson | September 16, 2020 at 12:05 AM EDT - Updated September 16 at 9:42 AM...