You are buying a second home: this will be more than a sizeable investment — by any measure, it’s a considerable personal achievement as well. That second home may be a family retreat, a vacation property you will be renting out (at least part time); or a pure income-producing renztal. When a realistic appraisal says that you won’t be able to devote much time and attention to your new holding, the way to fill that gap is to locate an experienced Florida property manager. As you will learn, it’s a specialized field. According to the latest studies, … (0 comments)
As soon as you are offered a great new job or promotion – even if it’s in a new town -- your natural response is, “Absolutely, yes!” After all, you landed the opportunity because you are a go-getter -- someone who solves problems! Experience teaches that seamless relocation to Naples, Florida (or anywhere) takes some determined preparation. Even after you’ve identified your new house, there are a few significant hurdles to clear before happily settling into a new community. Here are four common mistakes new buyers in town have made in the past…and how you can … (0 comments)
“Longevity planning” is not something most youthful or middle-aged Pelican Bay, residents spend a lot of time thinking about. “Getting old?” Who wants to dwell on that? Joseph Coughlin, the director of the AgeLab at MIT, pushes for changing that attitude when it comes to home sale decisions. He points out that a 65-year-old woman today can plan to live past 85 -- far longer than her parents did. If her budget plans match theirs, the result will be a serious shortfall in later years. It may be more doable than you’d think. The Brooking Institution recently … (0 comments)
To the extent that Naples rentals reflect wider real estate movement, there is good news and bad news for Pelican Bay tenants. It all depends on how they view it (and how they chart their personal housing strategy). The bad news was not unexpected: for the third straight year, rents were up across the nation in 2012, according to apartment housing industry expert MPF Research. Although rents rose at a slightly slower pace than in 2011, national forecasts are calling for rent increases in 2013 that match last year’s. The research firm said that apartment rents climbed 3.0% … (0 comments)
“What doesn’t bankrupt us makes us stronger,” writes Josh Garskof, a serial remodeler and contributing writer and/or editor for Money magazine, “This Old House,” and Martha Stewart Living. Pelican Bay property owners who have attempted a remodel anytime recently are likely to find the humor – and the truth – in his wisecrack. With the spring selling season just over the horizon, this would be about the right time for Naples homeowners who are considering bringing their property to market to finalize plans and firm up any remodeling arrangements. Whether the project is just to freshen up … (0 comments)
According to the National Association of Realtors®, last year the number of sales for vacation homes continued to rise following the staggering 64.5% gain in all investment home sales for 2011. The consensus has it that promising statistics are likely to repeat in 2013. Perhaps it is an improvement in Naples’s vacation homes outlook, or maybe it’s because of the recent media focus on personal tax issues…whatever the reason, it looks as if 2013 may be seen as a particularly inviting time to make a first vacation home investment. Although I don’t offer tax advice (your CPA and … (0 comments)
The holiday décor is down; neighborhood kids are back in school; January’s social calendar looks amazingly clear (compared with the previous two months, anyway)… so, what now? One suggestion I might offer: put some serious thought into acting on those financial New Year’s resolutions – at least the ones dealing with your local real estate plans. Doing so would dovetail nicely with my own New Year’s prediction, one I share with many credible real estate watchers: 2013 is the year buyers and sellers are going to really get serious about real estate. According to Money Magazine on CNN’s … (0 comments)
It may be a little early to start putting the champagne on ice, but looking over last week’s releases of housing reports gives us a fairly good idea of how our Pelican Bay housing picture for the year 2012 is likely to end up. “The housing recovery that started earlier in 2012 continues to gain momentum,” according to CoreLogic’s Chief Economist. The monthly data report covered final national numbers for October (a year-over-year rise of 6.3%) as well as a probable 7.1% increase for the month just ended. CoreLogic was also “seeing an ongoing strengthening of the residential … (0 comments)
The latest indications that we have seen the end of the sagging real estate market have started some Naples, Florida homeowners thinking it may be time to sell. For those who are wondering if the long recession has altered how people look for homes – and if so, in what ways – we’ve noticed a couple of new trends. As before, the first stop for most potential buyers is the Naples MLS listings. When you compare the language and features most prominent there, huge changes do not leap out. But a comparison with former language does reveal something … (0 comments)
florida: Pelican Bay and Bay Colony Homebuyers Eye 1% Mortgage Mirage
- 08/19/12 11:29 PM
Even though most of my home buyers pay cash...they don't have to with this Great News! As we’ve been pleased to point out before, Naples mortgage interest rates are not just ‘low’ – that would be like saying Michael Phelps is a ‘good’ swimmer. When you borrow at a rate below the inflation rate, you essentially borrow for free. Using someone else’s money to do a job for you is one of the less well-hidden secrets of successful people – so it should come as no surprise that some of today’s most prominent business names are right in there with … (0 comments)
Uncertain economy or not, we Americans remain a highly mobile bunch. In fact, the Census Bureau says that no fewer than 6,700,000 Americans packed up and moved to a new state in the period between 2010 – 2011, the latest year on record. The study sheds light on the movement of people within the U.S. -- and it lets us know that of the most common reason for interstate relocation (43.9%) was for employment-related reasons. The official stats are not yet available for last year, but the relocation numbers are expected to increase as people continue to relocate in … (0 comments)
For a future homebuyer scanning through the Naples Multiple Listing Service (MLS) listings, first there are the meat-and-potatoes factors (baths, bedrooms, square footage), then any number of other distinguishing factors. Is the kitchen upgraded? Does the floor plan work? Will I like the backyard? It’s easy for buyers to become enchanted by the bells and whistles as they search through the MLS listings. But no matter how permanent they consider their intended move, that home purchase should always include a thoughtful appraisal of its long-term investment value. Some of the underlying factors in that respect don’t change a … (1 comments)
Open houses are one of any agent’s most effective tools when it comes to selling houses. The 2011 National Association of Realtors® Profile of Home Buyers and Sellers found that 45% of buyers use open houses as a research tool when they are serious about buying a home. Naples,Florida's open houses can draw potential buyers, then effectively demonstrate not only an attractive physical living space – but a canvas that invites them to project their own ideal living situation onto it. Nevertheless…be warned! Obvious, clichéd staging can have exactly the opposite effect -- even for properties that … (2 comments)
If a picture is worth a thousand words, how many words might a video’s flood of pictures be worth? The scientists at George Washington University approached the topic a few years ago in connection with real estate virtual tour s. To those of us whose profession is helping our clients buy and sell homes in our area Pelican Bay, their findings were --to say the least-- interesting: They arrived at this conclusion: “Adding a virtual tour decreases the expected marketing time by about 20% and increases the expected sales price by about 2%." I’ve added the italics, but … (3 comments)
Click On the Picture Above To See How Your Can Live In Paradise! Figuring out home values when the market is in flux is truly a job for experts. We have seen the national real estate market begin to rebound, and expect Naple Florida's Pelican Bay or Bay Colony's home or condo values to soon start to reflect movement as well. Most local homeowners are in the habit of keeping an eye on area home values. But especially for anyone considering buying or selling this spring or summer, estimating their home’s value is one of the first items … (4 comments)
You don't have to be a real estate professional to search the Multiple Listing System (MLS) for the home of your dreams. In fact, with the help of Ginny Lee, America's Best Agent for Pelican Bay, you can do it yourself and see exactly what properties are on the market at any given time. America's Best Agents knows that most home buyers like to have the option to do some of the searches for property themselves. You can have that same option! How can you search the MLS on your own? It's simple! Sign up for aListingbook Account by … (0 comments)
For credit-worthy Pelican Bay and Bay Colony homebuyers, getting a mortgage can be a walk in the park…or a nerve-wracking nightmare. The difference usually has to do with those ubiquitous Credit Reports – the ones TV commercials want to send you for free (at which point they will try to sell you not-so-free monthly services). Anyone who has ever been stalled just as they reached the final stages of getting a mortgage or refinancing knows that getting mad doesn’t solve anything. But avoiding a last-minute problem is easy to do if you plan ahead. At least six months ahead. We … (0 comments)
With spring in the air, notions of fresh starts and new horizons have a way of pushing into just about everybody’s consciousness. It’s only natural, whether because of the weather, school schedules, or everything else around us that seems fresh and new. And something else is in the air, too: if past history is any guide, now is also simply the most popular time of year to sell or buy Naples, Florida property. For those with a home to sell, this is traditionally the most active time to be in the real estate market. Homes entered in … (2 comments)
It’s a fact that many folks in Pelican Bay decide not to buy a home or condo. Aiming to save some cash, they rent instead. They may feel that it makes more sense to work on rebuilding their portfolios, put some extra cash into a rainy day fund, save for retirement, or for college -- for any number of worthy goals. These would all be prudent financial maneuvers, but only if the original assumption is correct. But today’s environment is creating a new reality. It’s one where renting may not be as much of a cost … (0 comments)
It has been a long time since truly credible sources dared to combine the word ‘optimistic’ with anything like ‘Home Sales Buying Season’, but last week the National Association of Realtors’ Chief Economist, Lawrence Yun, sounded like he is ready to start talking that way. This spring the residential real estate outlook is being buoyed by an upward trend in the national “pending home sales” numbers. Yun points to January's pending home sales as reaching the highest level since April 2010. The number rose from 95.1% in December 2011 to 97% this January – a 2% increase in … (0 comments)
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