Real Estate News, Real Estate Market Updates & Trends for Naples, Bonita Springs, Estero and South Fort Myers, Florida. New Construction, Waterfront Properties, Golf Communities – Dominick Tascher Group with MVP Realty.
Residents of North Naples and East Bonita Springs will just have a few more months to be patient until the long awaited extension for Logan Blvd will open in late 2019.
Currently Logan Blvd ends north of Immokalee Rd deserving the communities of Olde Cypress, Riverstone and Stonecreek.
The new two-lane road divided by an 8-foot median will create another north-south corridor between Collier and Lee counties, extending Logan from North Naples to Bonita Springs. The new road will end with a two-lane roundabout on Bonita Beach Road between the gated communities of Village Walk of Bonita Springs and San Remo at Palmira and Palmira Golf & Country Club.
Adera At Coconut Point, a new planned 180-unit apartment community has been approved by Estero Design Review Board. The project will include a mix of studio, one bedroom, two bedrooms and three bedrooms apartments. Estimated rent to be between $1,200 to $1,400 per month. The 13 acres parcel is located at the southeast corner of intersection of Williams Rd and Via Coconut Point, close to Hertz headquarters, Coconut Point Mall and the communities of Rapallo and Shadow Wood The Brooks. View Recent Article in News-Press…
nabor-report-october-2018 nabor-stats-october-2018The Naples Area Board of REALTORS® (NABOR) has released the real estate market report for October 2018 for transactions in the Naples area.
Closed sales of homes in the Naples market grew 20% in October 2018 compared to October 2017.
In the meantime inventory during October has jumped 20% to 5,992 homes (the highest level since October 2012) giving more choices for buyers.
Here are also the other highlights from the report:
Inventory increased 20%.
7.5 months of supply.
10% oe the new inventory is new construction.
Overall pending sales up 17% for the $1M to $2M price category.
Median Closed Price in the Naples Beach area (west of US 41) decreased 13% in October compared to October 2017.
Amendment 2 preserves the 10 percent cap on annual increases of non-homestead property taxes that has been in place for the last 10 years. It is the only amendment on the ballot that does not change Florida law, and it prevents an estimated $700 million tax increase on the 2.2 million non-homestead properties currently protected in the state.
Over the past several months, Florida Realtors® has been hard at work explaining the benefits of the amendment and helping to educate voters on the need to pass it. But Realtors are not the only ones who understand its importance. Here are some excerpts from what a majority of Florida’s largest newspapers have to say: View Full Article…
Naples, Fla. (October 19, 2018) – One year after Hurricane Irma, overall closed sales in Naples increased 62 % to 644 homes in September of 2018 compared to 398 closed sales of homes in September of 2017. According to broker analysts, this impressive increase in month over month sales is a result of the effect of the hurricane when homes sales halted following the massive storm.
“The September Market Report shows how resilient and desirable our market is,” said Lauren U. Melo, PA, Licensed Real Estate Broker with Florida’s Realty Specialists. “A 3 % increase in pending and closed sales, year over year, is strong considering the reduced sales activity during the troubled period following the hurricane. This was when many sellers were making repairs caused by the hurricane. The September statistics show that our market is in a good position to see positive activity for the fourth quarter.” Here are the major points of this Naples real estate market report for the 3rd Quarter of 2018:
Overall pending sales in the third quarter are up 20 % closed sales are up 13 % the median closed price is up 3 % inventory is up 4 % and the days on market decreased 1 %.
Closed sales of homes between $300,000 and $500,000 increased 24% more than other categories.
Pending Sales for the condominiums market increased 21% and closed sales 20%.
ORLANDO, Fla. – Oct. 19, 2018 – Florida’s housing market reported more closed sales, higher median prices and more pending sales in September compared to a year ago – when Hurricane Irma struck the Florida Keys on Sept. 10, 2017 – according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 21,087 last month, up 17 percent compared to September 2017.
September was the 81st month-in-a-row (over six and a half years) that statewide median sales prices for both single-family homes and condo-townhouse properties increased year-over-year. The statewide median sales price for single-family existing homes was $251,610, up 4.9 percent from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Thestatewide median price for condo-townhouse units in September was $182,500, up 5.5 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less. Read Full Article… Naples to Estero Residential Real Estate Search…
NEW YORK – Oct. 17, 2018 – The economy is booming, with the unemployment rate at the lowest level in nearly 50 years. Wages have remained relatively stagnant, though, and for many workers, the only way to get a raise is by changing jobs, which sometimes means moving to another city or state.
But before you start packing, check out the cost of living in your prospective employer’s city. You’ll want to look at the cost of housing, of course, and don’t overlook the impact of state and local taxes on your bottom line. Our annual guide to state taxes shows that tax rates are literally all over the map – and the difference between living in a high-tax or a low-tax state can be thousands of dollars each year, depending on your tax situation.
Updated for 2018, here is our list of the 10 most tax-friendly states in the U.S. The top five states on our list have no state income tax at all. Take a look. View Full Article… Find your dream home in SW Florida…
Floridians will soon be considering a number of constitutional amendments that could drastically impact the state and its approximately 21 million residents. Chief among those ballot considerations is Amendment 2, which seeks to preserve the 10 percent cap on annual increases of non-homestead property taxes that has been in place for the last 10 years.
Non-homestead properties are properties that don’t serve as a person’s primary residence – and rental homes are one of the largest segments of non-homestead properties in Florida. According to the most recent Census estimates, rental homes house more than one-third of the state’s population currently – the highest amount since the 1980s.
“The really scary thing about Amendment 2 failing is the domino effect that will start to ripple through our communities, starting with our renters,” says Zach Sanchez, a broker for THINK Real Estate in Panama City Beach. “Many renters live on fixed incomes and don’t have much room in their budget to absorb a rent increase that is sure to come if property owners start seeing tax increases in excess of 10 percent a year.”
Florida voters approved the current 10 percent cap in 2008 as a way to solve an ongoing property tax crisis that was punishing non-homestead property owners and renters. According to data contained in a Revenue Estimating Conference analysis conducted in 2011, 30 percent of all non-homestead Florida properties were hit with an 80 percent tax increase in just one year – from 2005 to 2006. This meant a property valued at $300,000 in one year could be taxed at $540,000 or more the next. That same year, nearly 75 percent of all non-homestead properties in the state suffered an increase of more than 10 percent in value.