Thursday, December 17, 2015

When leaving questions or asking for additional information in my "Comments" section here, please leave me your EMAIL ADDRESS or PHONE NUMBER so that I can answer back. You can reach me directly at 239-560-1574 or terencetrombetti@gmail.com. It would be an honor to work for you as your Realtor. Kind regards, Terence J. Trombetti.

Merry Christmas! 🎅

Here is an update on the Cape Coral, Fort Myers and the Naples Real Estate markets. I also have included a recent article about the "​10 Housing Trends Coming Your Way in 2016". If you would like information on other areas of SWFL just let me know!

For those of you who do not know, this is my 12th year as a professional Florida Realtor and I live the Southwest Florida lifestyle every day. I know the real estate markets from the homes, condominiums businesses and land available, as well as the waterways, fairways and beaches that make up our southwest Florida Gulf Coast. I have a reputation for going above and beyond the conventional expectations of the average Realtor, protecting your interests every step of the way. Let me help you find your Florida dream home. I guarantee you will have a fun and stress free real estate experience.


​​
To read some
​ of my​
 customer testimonials GO TO:
​ 
http://capecoralfloridahomes.blogspot.com/p/posted-by-user054229-05102012-highly.html


Merry Christmas and Happy Hanukkah to all!



Terence Trombetti | REALTOR®
Gulf Coast Realty Network, Inc.
FORECLOSURE | LUXURY HOME | INVESTOR SPECIALIST
4002 Del Prado Blvd S. 
| Cape Coral, FL 33904
C: (239) 560-1574 
|
 F: (239) 540-1206
Licensed
 Florida 
Realtor® Since 2004

Summary for Cape Coral


Average price per square foot for Cape Coral FL was $118, an increase of 12.4% compared to the same period last year. The median sales price for homes in Cape Coral FL for Sep 15 to Dec 15 was $181,900 based on 1,006 home sales. Compared to the same period one year ago, the median home sales price increased 17.4%, or $26,900, and the number of home sales decreased 23.4%. There are currently 5,156 resale and new homes in Cape Coral on Trulia, including 13 open houses, as well as 640 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Cape Coral FL was $270,635 for the week ending Dec 02, which represents an increase of 1.1%, or $3,014, compared to the prior week. Popular neighborhoods in Cape Coral include Pelican and Caloosahatchee, with average listing prices of $383,495 and $341,702.

Summary for Fort Myers


Average price per square foot for Fort Myers FL was $123, an increase of 11.8% compared to the same period last year. The median sales price for homes in Fort Myers FL for Sep 15 to Dec 15 was $181,500 based on 1,322 home sales. Compared to the same period one year ago, the median home sales price increased 6.1%, or $10,500, and the number of home sales decreased 17.2%. There are currently 2,985 resale and new homes in Fort Myers on Trulia, including 17 open houses, as well as 612 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Fort Myers FL was $305,789 for the week ending Dec 02, which represents an increase of 2.5%, or $7,332, compared to the prior week. Popular neighborhoods in Fort Myers include McGregor and Arborwood, with average listing prices of $488,683 and $349,330.

Summary for Naples


Average price per square foot for Naples FL was $167, an increase of 11.3% compared to the same period last year. The median sales price for homes in Naples FL for Sep 15 to Dec 15 was $285,000 based on 1,366 home sales. Compared to the same period one year ago, the median home sales price increased 4.6%, or $12,500, and the number of home sales decreased 23%. There are currently 5,976 resale and new homes in Naples on Trulia, including 131 open houses, as well as 729 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Naples FL was $699,840 for the week ending Dec 02, which represents a decrease of 0.1%, or $543, compared to the prior week. Popular neighborhoods in Naples include Old Naples and Park Shore, with average listing prices of $2,616,441 and $2,062,042.


​​
10 Housing Trends Coming Your Way in 2016
It’s been nearly a decade since the housing bubble burst and home values have yet to come back. But 2015 offered great strides toward full recovery, with small reminders of a still-recuperating market.
​ 
Home prices are up year-over-year and new home sales are on track for the best year since 2007. But the share of first-time home buyers remains at the lowest level on record, while the home ownership rate slumped to a 48-year low earlier this year.

What will 2016 hold for home buyers, sellers and renters? Here are the top real estate trends to watch for next year.

1. Home prices will continue to rise…moderately. Economists and housing experts surveyed by Zillow expect home values to grow an average of 3.5 percent with most markets experiencing modest gains. That’s closer to historical averages and more sustainable than double-digit increases. However, some economists are worried that price appreciation may be approaching bubble territory in some hot markets like San Francisco, Denver, and Dallas.

2. Interest rates will inch up. Economists widely agree that the Fed will increase its fed funds rate gradually throughout the year. Rates on adjustable-rate mortgages, which are tied to the prime rate that tracks the fed rate, will react immediately to a Fed hike. The rate on the 30-year fixed mortgage will increase slower, because it follows the yield on the 10-year Treasury, rather than the fed rate.
Rates on a 30-year mortgage currently stand at about 4 percent, up from record lows but still extremely attractive by historical measures. The Mortgage Bankers Association expects rates to reach 4.5 percent in 2016.
​ 
While some worry that higher interest rates would dampen the housing market, job security and wage growth are larger factors on home activity than interest rates.

3. First-time buyers will continue to struggle. Part of the reason for the muted housing recovery is the lack of first-time buyers. These buyers—who traditionally fuel the market—have had difficulty saving for a down-payment due to stagnant wages and high rents. “The investors came in and helped accelerate the housing recovery by being willing to buy when the market was bleeding, but they have pushed up home prices rapidly in some markets, and all of the sudden those markets are unaffordable for the traditional, first-time buyers,” says Daren Blomquist, vice president at RealtyTrac.
The median age of first-time home buyers—currently at a record-high 33—will head even higher next year, according to Zillow. Another headwind facing first-time home buyers: Prices for entry-level homes are increasing faster than prices at any other price level, according to CoreLogic. That’s because developers have been building larger, more expensive houses rather than starter homes.

4. Credit will get—a little—looser. While the days of no-doc loans and drive-by appraisals will likely never return, the pendulum is inching closer to center after several years of tight credit restrictions. The average FICO score on all closed loans in the third quarter was 723, the lowest level in at least four years, according to Ellie Mae. Two years ago, the average score for denied applications was 729.
Banks may be even more willing to work with home buyers over the next year as the volume of refinances falls as interest rates rise. “There will be more competition for borrowers,” says Frank Nothaft, chief economist at CoreLogic. “We may start to see more flexibility in credit standards and underwriting.”

5. It will still be cheaper to buy than rent. Rental rates have risen even faster than home prices in some markets. Buying a home is 36 percent cheaper than renting nationwide for millennials and now is the best time to buy since 2012, according to Trulia. Buying is cheaper than renting in every one of the country’s 100 largest metro areas. The disparity could likely grow as rents are expected to increase by 8 percent next year, according to a Rent.com survey of property managers.

6. The suburbs will make a comeback. The suburbs are once again becoming a potential destination for buyers as downtown living increases and Millennials start families, according to a new report from the Urban Land Institute. The most attractive suburbs are close to a city and have walkable Main Streets, job opportunities and public transportation. In the largest metro areas, more than four out of five jobs are located outside of the center-city core.

7. Buyers will want green and smart homes. Despite the higher costs, home builders and remodelers are increasingly incorporating eco-friendly features into projects to meet growing demand largely from affluent Baby Boomers who prioritize energy efficiency, a healthier indoor environment and durability. More than half of builders and 39 percent of remodelers say they are working on green projects, according to a study from Dodge Data & Analytics for the National Association of Home Builders. Those percentages are expected to rise over the next five years.
Sellers that don’t want to invest in full-scale renovations are turning to smart thermostats and lights that can be controlled by smartphones to pump up their eco appeal. “It’s a great way for sellers to differentiate their properties from others on the market,” says Budge Husky, chief executive officer at Coldwell Banker Real Estate. “You’re not only getting the energy savings, but it becomes a lifestyle feature.”

8. Videos will be the new photos. High-quality, professional photographs have become the norm for online listings. To stand out in today’s market, more sellers are working with their real estate agents to create virtual tours and videos to highlight their properties.
Videos can help create positive reactions and emotional connections to younger buyers accustomed to sharing photos and videos on social media. Los Angeles real estate agent Scott Tamkin has been using video game-like 3D tours to allow potential buyers who may be abroad to virtually “walk through” a property to get a real feel for it.

9. All-cash sales will continue to decrease. About a third of home sales in August went to all-cash buyers, down form a high of more than 46 percent in January 2011, according to CoreLogic. That share will likely continue to decline in 2016, which is good news for mortgage-dependent buyers who have had trouble competing with all-cash offers in some markets.

10. New homes will come back big time. 
New home construction was one of the hardest-hit industries after the housing bust. At their lowest point in 2009, developers had scaled back production by nearly 79 percent. They’re finally starting to ramp up again. Single-family starts increased 10 percent this year and are expected to rise another 23 percent in 2016, according to the National Association of Home Builders. That coincides with healthy sales. New home sales grew 15 percent this year and are forecast to jump 26 percent in 2016.

‪#‎capecoralrealestate‬ ‪#‎capecoralhomes‬ ‪#‎capecoralrealtors‬‪#‎Fortmyersrealestate‬ ‪#‎fortmyershomes‬ ‪#‎fortmyersrealtors‬‪#‎naplesrealestate‬ ‪#‎napleshomes‬ ‪#‎naplesrealtors‬ ‪#‎floridarealestate‬

No comments:

Post a Comment

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...