Bloomberg: Florida, The Winner As The Wealthy Move South

According to a Bloomberg analysis of state-to-state moves based on data from the IRS and the U.S. Census Bureau, Florida saw a net influx of nearly 3% of the state’s adjusted gross income in 2016.

South Carolina, Idaho and Oregon also posted large gains, while the biggest declines were recorded by Connecticut, New York, and New Jersey.

The U.S. Census Bureau reports that about 10% of the population – about 35 million people – moves annually, usually within the same county, though about 5 million Americans move from one state to another.

“Florida’s powerhouse economy continues to churn out new jobs, retiree migration to Florida is on the rise, and millennials are coming into their prime home-buying years,” says Florida Realtors Chief Economist Brad O’Connor.

Migration also brings more money into Florida than it moves out. The average gross income of people moving to Florida from 10 states and Washington, D.C., exceeded $100,000, outstripping those of Florida natives who migrated to the reciprocal states.

The Sunshine State also benefits from a provision of the federal tax law that imposes a lower cap on state and local tax deductions – one of seven states that collect no income tax.
Source: Bloomberg (05/24/19) Miller, Lee J.; Lu, Wei

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Market Report – April Shows Market Resurgence Continues

Naples, Fla. (May 24, 2019) – Closed sales during April in the Naples housing market increased 12.8 percent to 1,158 properties in April 2019 from 1,027 properties in April 2018. Broker analysts reviewing the April 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), reported that April was a solid month with strong sales activity in both the single-family and condominium markets.
– View Complete Market Report…
View Complete Statistics…
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Mortgage Rates Fall Again – Edge Closer to 4%

U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. By contrast, a year ago the benchmark rate stood at 4.61%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.53% from 3.57% last week.

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Rapallo At Coconut Point – Market Report – First Quarter 2019

Rapallo At Coconut Point

This is the real estate market report for Rapallo At Coconut Point, for the first quarter of 2019.
There are currently 24 properties for sale in Rapallo.
Condominiums:
There are 7 Terrace Condos on the market in Rapallo.
Listed from $268,000 to $295,000.
View Active Listings.
In the past quarter, 2 terrace condos has sold in Rapallo:
– From $266,000 to $279,000.
– Average Days on Market: 44.
– Average Sale Price per SQFT: $190/SQFT.
– Average Sale Price: $272,500.
View Sales for the Terrace Condos.

Coach Homes:
There are currently 14 Coach Homes on the market in Rapallo. Listed from $255,900 to $342,000.
View Active Listings.
3 are under contract.
In the past quarter, 7 coach homes have sold in Rapallo:
– From $289,000 to $341,000.
– Average Days on Market: 81.
– Average Sale Price per SQFT: $184/SQFT.
– Average Sale Price: $315,000.
View Sales for the Coach Homes.

Carriage Homes:
There are currently 2 Carriage Home on the market in Rapallo. Listed from $417,500 to 425,000.
View Active Listings.
1 is under contract.
In the past quarter, 3 carriage homes have sold in Rapallo:
– From $365,000 to $415,000.
– Average Days on Market: 76.
– Average Sale Price per SQFT: $166/SQFT.
– Average Sale Price: $387,500.
View all Recent Sales for the Carriage Homes.

Courtyard Villas:
No villas currently for sale.
In the past quarter 1 courtyard villa has sold in Rapallo:
– For $500,000.

View Sales for the Villas.
Let us know if you have any questions and how we can help you about Rapallo or any properties in Estero

Pelican Sound – Market Report – First Quarter 2019

Here is the real estate market sales report for Pelican Sound Golf & River Club,  for the first quarter of 2019.
There are currently only 13 properties for sale in Pelican Sound which is a low inventory. The first quarter of 2019 has been extremely active.

Condominiums:
There are 9 condos for sale in Pelican Sound as of today.
Most are 2-bedroom condos (only one 3-bedroom condo). Listed from $155,000 to $284,500.
View Active Listings.
11 condos are under contract.
In the past quarter 9 condos have sold in Pelican Sound:
– From $195,000 to $280,000.
– Average Days on Market: 112.
– Average Sale Price per SQFT: $173/SQFT.
– Average Sale Price: $231,000.
View Sales for the Condos.

Coach Homes:
There are currently 3 Coach Homes on the market in Pelican Sound. Listed from $309,500 to $335,000.
View Active Listings.
4 coach homes are under contract.
In the past quarter, 4 coach homes have sold:
– From $245,000 to $345,000.
– Average Days on Market: 91.
– Average Sale Price per SQFT: $196/SQFT.
– Average Sale Price: $308,750.
View all Recent Sales for the Coach Homes.

Carriage Homes:
There are none of the Carriage Homes on the market right now.
4 are under contract.
In the past quarter 5 carriage homes have sold:
– From $383,000 to $475,000.
– Average Days on Market: 74.
– Average Sale Price per SQFT: $221/SQFT.
– Average Sale Price: $441,000.
View Sales for the Carriage Homes.

Single-Family Homes (Including Estate Homes):
There is currently only 1 single-family home on the market in Pelican Sound. Listed for $550,000.
View Active Listing.
2 are under contract.
In the past quarter, 1 home has sold:
– For $520,000.
– Days on Market: 76.
– Average Sale Price per SQFT: $295/SQFT.
View Sales for the SIngle-Family Homes.

Let us know if you have any questions about theses sales or the properties on the market in Pelican Sound or if you want to sell your property as the market is extremely active and we need listings

What does a “normal” housing market look like? This one.

NEW YORK – April 2, 2019 – The spring home-buying season could be the best in years, with falling mortgage rates and rising inventory already reducing bidding wars and resulting in price cuts.
“It’s been a rough go for homebuyers since the bottom of the housing market, and there are signs we’re entering a period of normalcy,” says CoreLogic Deputy Chief Economist Ralph McLaughlin.
McLaughlin believes current conditions could be the most favorable for buyers since the housing market bottomed in 2012.
However, economists say that even as activity rises, it’s unlikely that the market will return to a period of booming home sales. Nationally, home prices have jumped more than 50 percent since the bottom of the market in 2012, according to the S&P CoreLogic Case-Shiller National Home Price Index, which has made affordability a challenge for many buyers.
Economists note that inventory is rising – not necessarily because more homeowners are putting their homes on the market but because homes are taking longer to sell.
“All the signs are pointing to the fact that people are just having a harder time selling their homes,” says Trulia chief economist Issi Romem.
However, it appears that buyers are reaching deals faster, with Redfin data showing that the time it takes a buyer to find a home has hit a six-year low of 73 days.
Source: Wall Street Journal (04/01/19) P. A1; Kusisto, Laura
© Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

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Mortgage Rates falling Again – Good News For Buyers!

WASHINGTON (AP) – Feb. 21, 2019 – U.S. long-term mortgage rates dipped this week to the lowest average in more than a year, providing a possible boost to the start of the spring homebuying season in March.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage declined to 4.35 percent from 4.37 percent last week. The key 30-year home borrowing rate averaged 4.40 percent a year ago.

This week was the lowest average since the week of February 8, 2018.

The average rate this week for 15-year, fixed-rate loans declined to 3.78 percent from 3.81 percent.

Mortgage rates hew closely to changes in the interest charged on 10-year U.S. Treasury notes. Lower borrowing costs should help boost home sales, as rising mortgage rates in 2018 caused homebuying to tumble last year.

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 Copyright 2019 The Associated Press, Josh Boak. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Florida Senate unlikely to revisit beach access law

TALLAHASSEE, Fla. – Feb. 8, 2019 –
There is little chance the Florida Senate will revisit a controversial state law that has impacted public access to some beach areas, according to top Republicans in the chamber.
Senate President Bill Galvano, R-Bradenton, and Senate Majority Leader Kathleen Passidomo, R-Naples, say they do not intend to reconsider a 2018 law (HB 631) that put in place an extensive process for local governments before they can continue so-called customary use of privately owned beach property above the mean high-water line.
The new law fueled heated debates last summer after some coastal property owners in Walton County were quick to keep people off dry sand portions of beaches.
Galvano said in November he did not want to revisit the issue, and Passidomo agreed during an interview Thursday.
“People need to understand that most of the beaches in Florida are public, open to the public and they will never be closed,” says Passidomo. The new law, she adds, is meant to protect private property rights – not limit access to beaches. Passidomo says the law, which she championed last year, is controversial because it is misunderstood.
As a result, she said it does not need tweaks – let alone a repeal, which Sen. Darryl Rouson, D-St. Petersburg, is proposing with a bill (SB 54) filed for the upcoming legislative session.
“Whether that bill is heard or not, my opinion is that there is a lot of political machinations occurring over a bill that is much simpler than people are making it out to be,” Passidomo said.

Source: News Service of Florida

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Vasari – 2018 Real Estate Sales Report

Here is the 2018 real estate market sales report for the condos, coach and carriage homes in  Vasari Golf & Country Club, bundled golf  community in Bonita Springs, Florida.
There are currently 43 properties for sale in Vasari.

Condominiums:
There are two neighborhoods of condos:
Matera –  14 condos for sale as of today. Listed from $169,900 to $260,000.
View Active Listings.
In 2018, 13 condos have sold in Matera:
– From $151,000 to $260,000.
– Average Days on Market: 237.
– Average Sale Price per SQFT: $119/SQFT.
– Average Sale Price: $192,000.
View All Recent Sales in Matera.
Trieste –  7 condos for sale as of today. Listed from $209,900 to $279,900.
View Active Listings.
In 2018, 7 condos have sold in Trieste:
– From $220,000 to $250,000.
– Average Days on Market: 212.
– Average Sale Price per SQFT: $141/SQFT.
– Average Sale Price: $232,500.
View All Recent Sales in Trieste.

Carriage Homes:
There are two neighborhoods of carriage homes:
Toscana –  4 units for sale as of today. Listed from $249,000 to $314,900. 4 other units are under contract.
View Active Listings.
In 2018, 9 units have sold in Toscana:
– From $225,000 to $360,000.
– Average Days on Market: 347.
– Average Sale Price per SQFT: $133/SQFT.
– Average Sale Price: $277,000.
View All Recent Sales in Toscana.
Firenze –  3 units for sale as of today. Listed from $219,900 to $379,000.
View Active Listings.
In 2018, 2 units have sold in Firenze:
– From $240,000 to $335,900.
– Average Days on Market: 103.
– Average Sale Price per SQFT: $156/SQFT.
– Average Sale Price: $299,400.
View All Recent Sales in Firenze.

Coach Homes:
There are two neighborhoods of coach homes:
Altessa –  5 units for sale as of today. Listed from $455,000 to $589,000.
View Active Listings.
In 2018, 7 units have sold in Altessa:
– From $395,000 to $575,000.
– Average Days on Market: 254.
– Average Sale Price per SQFT: $178/SQFT.
– Average Sale Price: $481,000.
View All Recent Sales in Altessa.
Cassia –  3 units for sale as of today. Listed from $352,500 to $374,900.
View Active Listings.
In 2018, 2 units have sold in Cassia:
– From $298,000 to $335,000.
– Average Days on Market: 313.
– Average Sale Price per SQFT: $156/SQFT.
– Average Sale Price: $317,000.
View All Recent Sales in Cassia.

You can view all properties for sale in Vasari, including the homes an estate homes.
Contact us if you have any questions about Vasari. 

Lausanne Condos, Naples – 2018 Real Estate Sales Report

Lausanne, The Moorings, Naples Fl

This is the 2018 real estate sales report for Lausanne, a complex of beachfront condominiums in The Moorings of Naples, Fl.

Currently there are 4 condos for sale in Lausanne.
Listed from $687,000 to $925,000. Another unit is under contract.
View Active Listings in Lausanne

In 2018, 6 condos have sold in Lausanne:
– From $600,000 to $1,600,000.
– Average Days on Market: 105.
– Average Sale Price per SQFT: $518/SQFT.
– Average Sale Price: $953,000.
View Recent Sales in Lausanne
Let us know if you have an interest in Lausanne or in any of other beach front condominiums in The Moorings.