Sanibel Island Honored by Coastal Living Magazine

Coastal Living Magazine ranks Sanibel Island #3 in Top Seaside spots.

Sanibel and Captiva Islands are a sharp contrast to beach destinations in other areas of Florida most noticeably in that the islands are un-crowded and there are no high-rises. Island residents and visitors never worry about missing a sunset with the western-facing beaches and little to obstruct the Gulf of Mexico view from dawn to dusk. San-Cappers enjoy a slow-paced world with low speed limits and 0 traffic lights.

Walking the beach, swimming, sunbathing, and shelling are obvious pastimes on Sanibel Island. But there is much much more. Take advantage of the full array of boating sports: fishing charters, sailing, windsurfing, kayaking, canoeing, dolphin-watching or sunset cruises. Cyclists enjoy 22 miles of bike paths that wind through friendly neighborhoods, shopping districts, beneath shady tree canopies, and along quiet waterways.

Learn more about Sanibel, browse current Sanibel MLS listings, or view our Southwest Florida Luxury Home Showcase at SageRealtor.com.

Southwest FL Real Estate Market Getting Better – Update Aug 2012

Faster Turnaround, Inventory Reduces, Sales Tick Upward

“The fact that home prices are now going up in that market (Lee County) makes people feel more encouraged about buying. They don’t want to get into a market that’s going down.”

“Cochran, a retiree from Wisconsin who’d lived in the house 14 years, sold her Gateway (Fort Myers) home in a week for $330,000 — $25,000 more than the appraised value.”

Read the full article here.

Investors Business Daily: Luxury Home Buyers Turns Up

“Sales of all homes in Southwest Florida priced $1 million to $2 million rose 13% for the 12 months ended in April, says the Naples Area Board of Realtors. Luxury homes and condos on or near the beach are the hot sellers in Naples, which at the high end is a second-home market.”

Read the full IBD Article here: Investors Business Daily, Luxury Home Buyers .

Florida Tourism Setting Records

The stars seem to be aligning for Florida’s tourism industry. It’s leading the state in creating new jobs since unemployment peaked in early 2010. In part because more tourists are showing up in Florida from farther west in the United States these days. Why? Tourist officials note more people in markets like Kansas City and Colorado are opting to avoid their typical fun-in-the-sun choice — Mexico — because of the sharp increase in violence there.

Read the full story here.

CNN Money: Home Buying Won’t Get Much Cheaper

CNN Reports Monday 05/07/12:   “With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable — but it won’t stay this way for much longer. One major factor that will drive the trend is the cooling of the foreclosure crisis. Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.”

Related Post: Cape Coral – Fort Myers Leads the Nation in Home Sales with 14% Rise in Prices

Read the full CNN Article Here.

Browse current Southwest Florida Real Estate Listings here.

Cape Coral – Fort Myers Homes Rise 14%

Cape Coral Real Estate and Fort Myers Real Estate Top the Nation in Gains

As Cape Coral – Fort Myers goes, so goes the real estate market? Southwest Florida, in particular the twin cities of Cape Coral and Fort Myers home markets, was the first to boom in the early 2000’s, the first to bust in the mid 2000’s and now in the twenty-teens the first to climb back into a recovering, healthy market. We’ve said it a thousand times and will say it again: all real estate is local. What is happening in Las Vegas, Seattle, or Destin is far different from the price points, inventory, and selling trends here in Southwest Florida.

Prices are still ridiculously cheap compared to the boom times the first part of this century, but there are no more declines and there are far fewer distressed properties on the market. Inventory is dramatically reduced, home builders are buying up land and building again, and the commercial market in Cape Coral is seeing gains as well. All of this is leading to incremental price increases indicative of a healthy, growing market (but not booming, thankfully) that is win-win for both buyer and seller.

This graph that we posted in 2006 has born true: at the time, we could not predict when the rational growth would emerge, but now it’s crystal clear that we are in that rational growth phase.

Here are the best, and worst, performing cities as reported by the AP and Trulia. Six out of the top ten are in Florida and none of the bottom ten are in Florida:

1. Cape Coral-Fort Myers, Fla.: 14.8%
2. Miami: 14.1%
3. Phoenix: 13.2%
4. Pittsburgh: 9.2%
5. Little Rock, Ark.: 6.7%
6. Orlando: 6.3%
7. North Port-Bradenton-Sarasota, Fla.: 6.2%
8. Palm Bay-Melbourne-Titusville, Fla.: 6.1%
9. West Palm Beach, Fla.: 5.8%
10. Warren-Troy-Farmington Hills, Mich.: 5.6%

– – – – – – – – – – – – – – – –

1. Tacoma, Wash.: -11.9%
2. Seattle: -9.1%
3. Sacramento, Calif.: -8.3%
4. Las Vegas: -7.7%
5. Wilmington, Del.: -7.7%
6. Columbia, S.C.: -7.3%
7. Cleveland: -6.9%
8. Fresno, Calif.: -6.8%
9. Milwaukee: -6.7%
10. Allentown, Pa.: -6.7%

Canadians Love Southwest Florida, And We Love Them Back

Canadians are coming to Lee County in force — and from places as far away as Calgary and Vancouver.

That has prompted Lee County to intensify its courtship of Canadian tourists, and one of the first steps is to study how they spend and play.

On Friday, the county’s Tourist Development Council heard a summary report from a $15,000, bed tax-funded market research study that:

Identified Canadian provinces sending the most tourists here, and which ones have the greatest potential to send more; and

Targeted consumer segments from those provinces, including their household incomes, travel habits, recreational preferences and how they spend their money.

David Gornley, president of Fort Myers-based Canadian Wholesale Currency Exchange, said he’s seeing more tourists from the country of his birth for two reasons:

“The Canadian dollar is strong, and real estate prices here are very reasonable.”

Gormley used to trade mainly with “older, retired Canadians. Now, we’re getting baby boomers in their 50s and 60s and who are thinking about retirement.”

On Friday, the Canadian currency closed at 99.2 cents against the dollar. The 52-week range was 98.4 cents to $1.05.

Not surprisingly, Toronto and the Ontario province ranked No. 1 as the area producing the most Canadian tourism for Southwest Florida. It’s a straight shot down Interstate 75 to Fort Myers. However, Quebec — and four other provinces a farther hike from Florida — also showed promise as long-term feeder markets.

Visitor bureau officials are encouraged by what they learned:

“We hit among the highest income brackets in Canada,”

The study further suggested that Southwest Florida has appeal to even such distant locations as Vancouver, B.C., and Calgary, Alberta. Affluent households in these regions “don’t mind making a connecting flight, if (the destination) is worth it,” Peek said.

Cape Coral – Fort Myers on 2 National Trend Lists

Cape Coral real estate and Fort Myers real estate continue to buck national trends

Cape Coral and Fort Myers were highlighted in two national studies – one from Realtor.com and one from Trulia – both suggest that our marked is in rebound if not already past that point.

Realtor.com’s placed Cape Coral and Fort Myers third in their list, citing:.

Fort Myers – Cape Coral: Median prices in Fort Myers-Cape Coral have increased year-over-year, foreclosures are down, inventory is lower and foreign buyers are attracted to the area’s real estate prices.

Trulia placed Cape Coral real estate and Fort Myers real estate as fifth in its list of the most searched listings.

From Florida Association of Realtors, Realtor.com, and Trulia.com.

10 Cities Where List Prices Are Rising the Most | Realtor Magazine

10 Cities Where List Prices Are Rising the Most

Daily Real Estate News |

Which cities are seeing median list prices increase the most? Nationally, median list prices have risen 1.60 percent to $190,000, according to year-over-year listing data from September 2011 by Realtor.com, based on 146 markets.

Yet, in some cities, median list prices in that time frame have risen more than 20 percent. Florida cities, in particular, are continuing to see some of the largest rebounds in list prices.

Here are the 10 cities that have seen the largest percentage increases in median list prices based on year-over-year data from September:

1. Fort Myers-Cape Coral, Fla.

Year-over-year median list price increase: 34.46%

Median list price: $215,000

2. Miami, Fla.

Year-over-year median list price increase: 25.63%

Median list price: $250,000

Home Prices On the Rise in Southwest Florida

From the News-Press, October 22 2011

Home prices spiked up 17 percent in Lee County in September compared to a year earlier, even as the flood of distressed sales ebbed.

The median price of an existing single-family home sold in Lee County in September jumped to $110,600, according to statistics released Thursday by Florida Realtors.

There were 1,127 single-family homes sold in September, up 2 percent from 1,102 a year earlier, said the group’s report, which counts sales completed with the assistance of a Realtor.

The Naples Area Board of Realtors provides its data to the Florida Realtors, but doesn’t allow them to be publicly available. A separate release issued by the board said the median price in September was $169,000, up from $161,000 a year earlier. There were 491 sales in September, compared to 513 in September 2010.

In another report also released Thursday by the National Association of Realtors, the number of Americans who bought previously occupied homes fell in September. Home sales are on pace to match last year’s dismal figures — the worst in 13 years.

Traditional sales “are picking up the slack,” he said. “Our market has almost flip-flopped” since 2008 when 70 percent of sales were distressed. Now only 20 percent are — 13 percent short sales and 7 percent sales by banks that took a property back in foreclosure.

The inventory of unsold homes has also contributed to a stronger market, Grimes said: only 800 houses are available for sale now, down from 4,200 three years ago.

Real estate agent Cheryl Turner of John R. Wood Realtors in Naples said the stronger prices there are due to an increased confidence by would-be retirees that the worst is over for the national economy and the local real estate market.

“What I’m seeing is people in their 50s, but thinking when they’re ready to retire the markets going to have recovered,” she said. “They’re still in a position to pay for it while the market is down. They can get a foot in the door before the market recovers.”

The national association said that home sales fell 3 percent last month to a seasonally adjusted annual rate of 4.91 million homes. That’s below the 6 million that economists say is consistent with a healthy housing market.

— The Associated Press contributed to this report.

Casino at the Forum in Fort Myers?

A $1 billion gaming resort with 1,500 hotel rooms is being proposed by a business group for The Forum at Colonial Boulevard and Interstate 75 in Fort Myers.

Let’s do it!

View the article at the News-Press.

Prices Rising in Florida – Year over Year Stats

ORLANDO, Fla. – Sept. 26, 2011

Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.

1. Miami
Average list price: $640,332
Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%

3. Central-Fla. rural service area
Average list price: $405,809
Year-over-year increase: 19.41%

4. Punta Gorda, Fla.
Average list price: $267,066
Year-over-year increase: 16.37%

Home Inventory Shrinks – Gulf Coast Business Review

Housing market could be on track to deliver 5% to 6% annual price increases if current demand continues.

Michael Timmerman has been making prescient calls on the residential real estate market in Southwest Florida for 17 years.

As senior associate in the Naples office of economic consulting firm Fishkind & Associates, Timmerman accurately forecast the real estate downturn in late 2006. For example, he warned shopping-center developers early that speculative new homes built during the boom didn’t necessarily translate to new residents. Now they’re asking his firm to develop economic models to measure population growth and retail demand.

At an Urban Land Institute of Southwest Florida presentation recently, Timmerman said the housing market could be on track to deliver 5% to 6% annual price increases if current demand continues.

Timmerman says he’s encouraged by the fact that inventory has been slashed in half to about nine months. “That’s why our prices have been stabilizing,” he says.

Search the MLS for Southwest Florida  homes and condos for sale here.

via Home Inventory Shrinks || Gulf Coast Business Review | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples.

Bankrate ranks Cape Coral-Fort Myers #1 Real Estate Market

 

View Bankrate article here.

View Cape Coral homes for sale here.
View Fort Myers homes for sale here.
View Fort Myers Beach homes for sale here.

Search all Southwest FL homes and condos for sale.

Numbers confirm: Texas is leading the way on hiring. Florida lands the No. 2 slot – The Economic Time Machine – MiamiHerald.com

Numbers confirm: Texas is leading the way on hiring. Florida lands the No. 2 slot – The Economic Time Machine – MiamiHerald.com.

Housing shortage likely coming, report says

Housing shortage likely coming, report says

CAMBRIDGE, Mass. – Within the next decade, 16 million new housing units will be needed to meet population growth and shifting demands, according to Harvard University’s Joint Center for Housing Studies in its latest annual “State of the Nation’s Housing” report.

That means household growth, which has dropped drastically in recent years, will need to greatly reverse its trend to meet the forecasted spike in demand. From 2007-2010, household growth averaged about 500,000 per year – less than half the 1.2 million annual pace averaged prior from 2000-2007.

To absorb the current rate of foreclosed and distressed homes plaguing most markets, a more normal rate of household formation is critical, according to the report. However, household growth partially has stalled as young adults have delayed homeownership and immigration has slowed.

As such, in recent years, builders have drastically cut production of new homes.

“With inventories of new homes at historic lows, a turnaround in demand could quickly result in tighter markets,” the report notes. “Over the longer term, the number of younger households is set to rise sharply, supporting growth in the population that fuels growth in both new renters and first-time buyers. The path%2

via Housing shortage likely coming, report says.

Closed! Congrats to Sam and Joy on Their Vacation Condo in Fort Myers

We extend a hearty thank you and congratulations to Sam and Joy of London, England on the closing of their vacation condo in Fort Myers. Overlooking the beautiful Caloosahatchee River with expansive views and gorgeous sunsets – their paradise awaits. Fun for everyone in the family with all the amenities here – golf, tennis, marina, clubhouse, walking trails… and so much more.

SageRealtor.com In the News Today

In the News-Press Thursday June 29. 2011.

• Learn about Cape Coral, Fort Myers, And Fort Myers Beach
• View existing Cape Coral homes for sale here.
• View existing Fort Myers homes for sale here.
• View existing Fort Myers Beach homes for sale here.

Median Home Price Up 11% – Cape Coral – Fort Myers Real Estate

Pent Up Demand – Metrostudy Predicts Housing Shortage

Metrostudy: Housing shortage on the horizon?

WASHINGTON – April 1, 2011 – Mike Castleman, founder and CEO of Metrostudy, which tracks real-time data of the country’s inventory of new homes, says a housing shortage is looming that will soon create a huge surge in demand for new homes. As such, now is the time to buy, he says.

In the 41 cities Metrostudy covers, 78,000 houses are either vacant and for sale, or under construction – that is less than a quarter of the new homes that fell in that category during the housing boom in 2006 and way below the level of a decade ago.

“If we had anything like normal levels of buying, those houses would sell in 2½ months,” says Castleman. “We’d see an incredible shortage. And that’s where we’re heading.”

The historic drop in new construction mixed with the decline in housing prices is laying the foundation for a dramatic recovery in residential real estate, Castleman told CNN. Castleman expects homeowners soon will start returning, which will drive up prices in many markets later this year.

While demand remains low for new construction, he expects that to change. He foresees the recovery following a similar path as previous ones: A severe housing shortage will drive a big increase in demand.

“We’ll get a big surge in demand and the drywall companies will take a long time to ramp up, and it will take years to get new lots approved,” he predicts. “Buyers will show up looking for a house in a subdivision, and all the houses will be sold. The builders will tell them it will take six months to deliver a house.” But they’ll want the house so bad that they’ll “bid the prices up.”

Source: “Real estate: It’s time to buy again,” CNN (March 28, 2011)

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