There are plenty of signs that the housing market can sustain a short-term recovery, even though the sector has lost some of its momentum and will continue to feel the effects of the weak labor market.
First, the government's incentives to attract first-time homebuyers has been a success.
Second, the inventory of new homes is starting to diminish.
Third, there seems to be a healthy correction in the inventory of existing homes.
Lastly, mortgage rates are becoming very attractive.
Source: http://www.nuwireinvestor.com/articles/shrinking-housing-inventory-favors-short-term-recovery-53820.aspx
The short-term recovery looks favorable, though the US is not out of the woods yet so to speak. Other trends such as the rate of unemployment, number of foreclosures, will affect the real estate recovery and the rate of that recovery.
Tuesday, October 20, 2009
Tuesday, July 28, 2009
Real Estate Sales Increase For Three Straight Months
Real estate agents in the US are reporting another increases in residential property sales, the third monthly rise in a row, giving rise to further talk of a recovery in the beleaguered property market.
The latest figures from the National Association of Realtors show that overall sales transactions increased 3.6% in June, just slightly below the year-ago level and at a quicker rate than expected. But house prices were still down 15.4% on a year ago. The average sale price now stands at $181,000.
But the figures are injecting hope into the troubled real estate market. ‘This is another hopeful sign. The housing market is healing,’ said Lawrence Yun, the association’s chief economist. ‘The increase in existing home sales occurred in all major regions of the country,’ he added. source: nuwireinvestor.com
Three straight months of increase of sales. This is one sure sign that not only has the market reached the bottom, but recovery is on its way for the US real estate market and the worst may be behind us. View Naples Beachfront Homes for Sale
The latest figures from the National Association of Realtors show that overall sales transactions increased 3.6% in June, just slightly below the year-ago level and at a quicker rate than expected. But house prices were still down 15.4% on a year ago. The average sale price now stands at $181,000.
But the figures are injecting hope into the troubled real estate market. ‘This is another hopeful sign. The housing market is healing,’ said Lawrence Yun, the association’s chief economist. ‘The increase in existing home sales occurred in all major regions of the country,’ he added. source: nuwireinvestor.com
Three straight months of increase of sales. This is one sure sign that not only has the market reached the bottom, but recovery is on its way for the US real estate market and the worst may be behind us. View Naples Beachfront Homes for Sale
Friday, July 10, 2009
Naples & Bonita Springs Area - Pending & Closed Sales Trends
As each graph shows, pending and closed sales have been on the rise for both Naples & Bonita Springs Areas.
Residential Real Estate Is Starting To Bounce Back
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts.
Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate.
The revised projections come as the analysts see residential investment starting to bounce back.
Residential investment is now projected to decline 20.1% for all of 2009, nearly two full percentage points improved from the old -22% estimate. Residential investment is seen to grow 4.5% in 2010, a vast improvement over the 4% decline previously projected.
“We are now tracking positive sequential growth in 3Q after 3-1/2 years of declines and a 53% correction from the peak is set to add to growth over the second half” of 2009, Helwing says. “This stabilization in homebuilding and slightly positive home sales could continue going forward.” Source: nuwireinvestor.com
Estimates by analyists are now being revised from previous doom and gloom to a slighly more positive outlook. The real estate market is slowly starting to recover, because of this estimates of home prices will be impacted. Signs in Naples are pointing to the bounce back of the real estate market
View Bonita Bay Beachfront Homes for Sale
Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate.
The revised projections come as the analysts see residential investment starting to bounce back.
Residential investment is now projected to decline 20.1% for all of 2009, nearly two full percentage points improved from the old -22% estimate. Residential investment is seen to grow 4.5% in 2010, a vast improvement over the 4% decline previously projected.
“We are now tracking positive sequential growth in 3Q after 3-1/2 years of declines and a 53% correction from the peak is set to add to growth over the second half” of 2009, Helwing says. “This stabilization in homebuilding and slightly positive home sales could continue going forward.” Source: nuwireinvestor.com
Estimates by analyists are now being revised from previous doom and gloom to a slighly more positive outlook. The real estate market is slowly starting to recover, because of this estimates of home prices will be impacted. Signs in Naples are pointing to the bounce back of the real estate market
View Bonita Bay Beachfront Homes for Sale
Monday, May 18, 2009
Makeovers of condominiums along Vanderbilt Beach inspire sales
Sales of condominium property throughout the area spiked in the past quarter compared to first quarter 2008 activity, according to statistics released by the Naples Area Board of Realtors (NABOR). Along Vanderbilt Beach, part of the good news is the result of a proactive effort to spruce up buildings and residences up and down Gulf Shore Drive.
Vanderbilt Beach, a 1.3-mile stretch of land between the Ritz-Carlton, Naples and Delnor-Wiggins Pass State Park, contains prime beachfront real estate, much of it in high-rise towers. Upscale dining in the immediate vicinity includes Baleen at La Playa Beach & Golf Resort and the Turtle Club. The neighborhood even holds vestiges of Old Florida with Buzz’s Lighthouse Restaurant and Lighthouse Inn on Vanderbilt Lagoon.
A perfect example of the what is happening in many of Southwest Florida’s more mature high-rise condominium communities is found at Vanderbilt Gulfside Condominium, where exterior common areas as well as residences are sporting sophisticated new looks.
Flexible living space and innovative storage solutions are high on the priority list for those wanting to turn dated vacation condos into year-round residences. In one condominium, the transformation of a two-bedroom layout resulted in two additional remodel contracts for K2 Design Group, a single-source architectural, interior design and construction management firm.
Sitting on 8.8 acres, the 1980s-era high-rise property — 72 residences in each of two towers — is in the midst of an exterior facelift. Parking structures, entry gate and porte-cochère have been replaced. Landscaping has been enhanced and is receiving increased attention with a new irrigation system. Attractive pavers replaced asphalt along the winding driveway and Italian stone was installed around the pool and walkway. In addition to fresh paint, exterior balconies, railings and screens are being upgraded. Source: naplesnews.com
View Naples Beachfront Condos for Sale
Vanderbilt Beach, a 1.3-mile stretch of land between the Ritz-Carlton, Naples and Delnor-Wiggins Pass State Park, contains prime beachfront real estate, much of it in high-rise towers. Upscale dining in the immediate vicinity includes Baleen at La Playa Beach & Golf Resort and the Turtle Club. The neighborhood even holds vestiges of Old Florida with Buzz’s Lighthouse Restaurant and Lighthouse Inn on Vanderbilt Lagoon.
A perfect example of the what is happening in many of Southwest Florida’s more mature high-rise condominium communities is found at Vanderbilt Gulfside Condominium, where exterior common areas as well as residences are sporting sophisticated new looks.
Flexible living space and innovative storage solutions are high on the priority list for those wanting to turn dated vacation condos into year-round residences. In one condominium, the transformation of a two-bedroom layout resulted in two additional remodel contracts for K2 Design Group, a single-source architectural, interior design and construction management firm.
Sitting on 8.8 acres, the 1980s-era high-rise property — 72 residences in each of two towers — is in the midst of an exterior facelift. Parking structures, entry gate and porte-cochère have been replaced. Landscaping has been enhanced and is receiving increased attention with a new irrigation system. Attractive pavers replaced asphalt along the winding driveway and Italian stone was installed around the pool and walkway. In addition to fresh paint, exterior balconies, railings and screens are being upgraded. Source: naplesnews.com
View Naples Beachfront Condos for Sale
Tuesday, April 28, 2009
Real Estate Decline Decelerates Slightly
In an encouragement-is-where-you-find-it report, the latest S&P/Case-Shiller index of home prices released on Apr. 28 reported continuing deep declines in the prices of existing single-family homes in the U.S., but for the first time in 16 months the annual declines in the two components of the index did not set new records.
The data, reflecting home prices through February, indicated 10 of the 20 metro areas in the index show record rates of decline, with 15 showing declines of more than 10% year-over-year. The 10-City and 20-City composite indexes posted year-over-year declines of 18.8% and 18.6%, respectively. That was slightly better than January, when they fell by 19.4% and 19%, respectively, year-over-year.
"While the declines in residential real estate continued into February, we witnessed some deceleration in the rate of decline in some of the markets," David M. Blitzer, chairman of the Index Committee at Standard & Poor's, said in a news release. "Furthermore," he added, "this is the first month since October 2007 where the 10- and 20-City Composites did not post a record annual decline. Source: businessweek.com
View Bonita Springs Beachfront Homes for Sale
The data, reflecting home prices through February, indicated 10 of the 20 metro areas in the index show record rates of decline, with 15 showing declines of more than 10% year-over-year. The 10-City and 20-City composite indexes posted year-over-year declines of 18.8% and 18.6%, respectively. That was slightly better than January, when they fell by 19.4% and 19%, respectively, year-over-year.
"While the declines in residential real estate continued into February, we witnessed some deceleration in the rate of decline in some of the markets," David M. Blitzer, chairman of the Index Committee at Standard & Poor's, said in a news release. "Furthermore," he added, "this is the first month since October 2007 where the 10- and 20-City Composites did not post a record annual decline. Source: businessweek.com
View Bonita Springs Beachfront Homes for Sale
Saturday, April 25, 2009
New name for Bonita Springs community
BONITA SPRINGS — The principals of AMA Development LLC have unveiled a new name for their Bonita Springs community — Monaco. The community was previously called Villages at Old Cypress.
AMA’s principals Meir Alice and his brother Aviel have been involved in Southwest Florida real estate for more than 20 years and have participated in the creation of many area neighborhoods.
Monaco is comprised of twin villas and single-family homes in two- to four-bedroom designs. The overall site plan includes streetscapes, landscaping and oversized lakes.
Planned community amenities include Club Monaco, a 2.5-acre complex that will offer recreational activities including a fitness center, grand salon, card room, billiards room and business center/conference room. There will also be a resort-style pool and spa, separate children’s pool, tennis courts and basketball courts.
Floor plans include the Milano, a two-bedroom with den/third bedroom twin villa with 1,600 square feet of air-conditioned living space. The villa lives like a single-family home with a private master suite and large grand living and dining area and encompasses 2,151 total square feet.
The Riviera twin villa has 1,982 square feet of air-conditioned living space and offers three bedrooms, a den or fourth bedroom, plus a large living/dining room that encompasses 2,549 total square feet.
Monte Carlo is a single-family home design with 2,264 air-conditioned square feet, three bedrooms, a den and a great room/dining room. The home has 3,082 total square feet with the option to upgrade to a four-bedroom with an en suite.
Every residence at Monaco includes a gourmet kitchen with granite countertop; wood cabinetry throughout; built-in bar with wine storage; granite and upgraded tile in master suites and master baths, tile roofs, and brick paver driveways and walkways. Homes are priced starting at $219,900. Monaco is off Imperial Parkway, north of Bonita Beach Road. Source: naplesnews.com
View Bonita Springs Beachfront Homes for Sale
AMA’s principals Meir Alice and his brother Aviel have been involved in Southwest Florida real estate for more than 20 years and have participated in the creation of many area neighborhoods.
Monaco is comprised of twin villas and single-family homes in two- to four-bedroom designs. The overall site plan includes streetscapes, landscaping and oversized lakes.
Planned community amenities include Club Monaco, a 2.5-acre complex that will offer recreational activities including a fitness center, grand salon, card room, billiards room and business center/conference room. There will also be a resort-style pool and spa, separate children’s pool, tennis courts and basketball courts.
Floor plans include the Milano, a two-bedroom with den/third bedroom twin villa with 1,600 square feet of air-conditioned living space. The villa lives like a single-family home with a private master suite and large grand living and dining area and encompasses 2,151 total square feet.
The Riviera twin villa has 1,982 square feet of air-conditioned living space and offers three bedrooms, a den or fourth bedroom, plus a large living/dining room that encompasses 2,549 total square feet.
Monte Carlo is a single-family home design with 2,264 air-conditioned square feet, three bedrooms, a den and a great room/dining room. The home has 3,082 total square feet with the option to upgrade to a four-bedroom with an en suite.
Every residence at Monaco includes a gourmet kitchen with granite countertop; wood cabinetry throughout; built-in bar with wine storage; granite and upgraded tile in master suites and master baths, tile roofs, and brick paver driveways and walkways. Homes are priced starting at $219,900. Monaco is off Imperial Parkway, north of Bonita Beach Road. Source: naplesnews.com
View Bonita Springs Beachfront Homes for Sale
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