Metas
Naples Florida Real Estate News - 08/31/07
FORECLOSURES - Some 80,000 homeowners with bruised credit and subprime ARMs will be able to refinance before they lose their home to foreclosure with a new loan program insured by FHA, as proposed by President Bush today.
This program may help some homeowners in the Naples real estate market. However, there is a proposal to raise the ceilings from $362k to $417k ($417k is the ceiling for conforming loans). The increase will assist more homeowners in the area, as well as the Bonita Springs and Estero real estate markets.
Naples Florida Real Estate News - 08/30/07
Hank Fishkind noted Economist speaks out on the real estate - his thoughts may surprise you. Good news for our veterans when it comes to mortgages. Foreclosures being faced by homeowners and people that know the people is becoming more common.
Naples Florida Real Estate News - 08/29/07
Another insurance company sticks it to Florida homeowners as they plan to drop 39,000 homeowner insurance policies after dropping 35,000 policies two years ago. Subprime mortgages crisis over? What do Floridian’s think about the state’s economy?
Naples Real Estate Is Local
Over on Business Week Hot Property blog, Maya Roney, writes "home prices can fall, and they do. U.S. home prices fell 3.2% in the second quarter of 2007 from the year-ago period, according to Standard & Poor’s Case-Shiller home price index. To put it in perspective, that’s the biggest decrease in the index’s 20-year history."
Naples Florida Real Estate News - 08/28/07
Real estate news for Tuesday has some interesting items covering Flood Insurance, real estate taxes surprising many homeowners in Florida, and advice on negotiations if you are thinking about doing negotiations on your own.
Naples Florida Real Estate News - 08/27/07
Today’s real estate news shows optimistic sales of existing homes, but don’t expect the usual condition of a home’s exterior.
Bundled Naples Golf Course Communities Market Values
Today’s Naples real estate market is more complex than it has been in previous years. The complexity comes about in determining whether a neighborhood is holding, increasing, or decreasing in value.
The complexity seen affects both buyers and sellers of real estate as to list price as well as identification of similar neighborhoods that offer the best opportunity for a purchase.
Naples Real Estate News - 08/24/07
Some good news for prospective home buyers in the Naples area - mortgage rates dropped to their lowest level since May of this to about 6.5%.
On the national scene - new home sales in July were up 2.8%. What will the August figures show, especially in light of the sub-prime mortgages, foreclosures, liquidity and credit crunch?
Naples Real Estate News - 08/23/07
The stories are running in media throughout Florida: real estate tax bills are down slightly; more importantly, they’re not higher. However, long-time homesteaded owners will still see a yearly tax increase if their assessed value has been kept artificially low thanks to the Save Our Homes amendment.
If you are thinking about a Naples home or condo, be sure to check if the loan program you were pre-approved for is still available. Don’t be too surprised if the loan officer or mortgage broker does not answer your phone call, return it or is not at his office - more than 25,000 mortgage workers have lost jobs since the beginning of the month – with more than half of those since last Friday.
Bank of America Corp. has made an equity investment of $2 billion in Countrywide Financial Corp., calling it a “vote of confidence.” Or is it a way for Bank of America to gain a larger portion of the residential lending market. The equity investment can be converted into common shares, so that B of A’s ownership would be between 15 percent to 16 per cent. This would make B of A the largest shareholder - a controlling interest.
Naples Real Estate News - 08/22/07
In January, Naples, Florida voters will consider amending the Florida Constitution to help correct existing problems in the collection of real estate taxes. A just-released study by University of Florida finds Florida voters - 58 percent approval rating for the amendment, which is only 2 percent below the number needed (60 percent) for passage.
For years, big, innovative and fast-growing banks have grabbed all the mortgage business, pushing aside the smaller, traditional local banks. But now, amid current credit-market woes, these plain-vanilla banks sense an opportunity: Investors may turn to these banks, who could see their conservative ways finally pay off.
Looking at foreclosures in the Naples area? Be careful around abandoned pool homes. Experts say that an uncleaned, unfiltered pool becomes the ideal breeding ground for mosquitoes, the carriers of West Nile virus, that can pick it up from infected birds. In fact, some experts believe that an increase in foreclosures could lead to an increase in the spread of the West Nile virus. Quickly don’t be in "de-Nile."