Naples Real Estate News 07/15/08

July 16, 2008

MORTGAGE REGULATIONS
The Federal Reserve issued new guidelines, effective Oct. 1, to curb shady lending practices. “It seems clear that unfair or deceptive acts and practices by lenders resulted in the extension of many loans, particularly high-cost loans, that were inappropriate for or misled the borrower,” says Fed Chairman Ben Bernanke.
HOUSING AID
The Fannie Mae/Freddie Mac problem [...]

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Naples Real Estate News 07/14/08

July 15, 2008

HOMEOWNERS INSURANCE
Start shopping around now for the best rates on homeowners insurance for your Naples, Bonita Springs or Estero residence. As the largest insurer of homes, condos and apartments in the state, Citizens Property Insurance has nearly 9,000 agents writing policies. But the insurance agents say that Citizens doesn’t pay them enough, especially in light [...]

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Naples Real Estate News 07/11/08

July 12, 2008

NAPLES HOUSING MARKET
The Naples home sales statistics don’t tell the whole story. In some areas, neighborhoods have not been hurt much by the housing slowdown, such as those close to business areas or good schools, while other neighborhoods have taken a greater hit. The same is true of the Bonita Springs and Estero areas.
MORTGAGE RATES
Rates [...]

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Naples Real Estate News 07/10/08

July 11, 2008

DEMOGRAPHICS
Florida cities continue to grow, but at a slower pace than in previous years, according to the U.S. Census Bureau. New Orleans netted the top growth spot, but its population is still about half what it was before Hurricane Katrina hit.
MY SAFE FLORIDA HOME
Reports of the death of the My Safe Florida Home inspection program [...]

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Naples Real Estate News 07/09/08

July 9, 2008

SHORT SALES
Short sales sound like a dream: The seller escapes foreclosure. The buyer gets a bargain price. The bank holding the home loan eats the difference. But the deals can be incredibly cumbersome to negotiate, and in a recent survey, 94 percent of the real estate agents who have worked with a short sale say [...]

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Naples Real Estate News 07/08/08

July 9, 2008

HOUSING AID
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support on Monday, inching toward possible passage by the end of the week despite Republican objections. The bill’s centerpiece is a new $300 billion Federal Housing Administration program to allow struggling homeowners who are currently too financially risky [...]

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Naples Real Estate News 07/07/08

July 7, 2008

PERMANENT GENERATOR PERMITTED?
If you installed a “permanent generator” for you home or condo in Naples, Bonita Springs or Estero – was it properly permitted and installed to code?
If a home listing includes a “permanent generator,” it may not be installed to code. Building officials estimate tens of thousands of open permit cases exist in [...]

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Absorption Rate for Naples Homes

July 7, 2008

The absorption rate for Naples homes reflects an improving market for the 4 specific time frames – 3 months, 6 months, 9 months and 12 twelve months ending June 30, 2008 for active listings as of July 1, 2008.

The 3 month time frame reflects an inventory of 22 months significantly down from the 44 months [...]

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Naples Real Estate News 07/03/08

July 6, 2008

MORTGAGE RATES
Rates on 30-year mortgages, which had been rising for five straight weeks, posted a decline this week to 6.35 percent as signals from the Federal Reserve eased worries about imminent interest rate increases.
MY SAFE FLORIDA HOME
Florida’s Chief Financial Officer announced today that the My Safe Florida Home program will end this weekend, when [...]

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Naples Real Estate News 07/02/08

July 3, 2008

REAL ESTATE TAXES
Every homesteaded property owner in Naples, Bonita Springs, Estero and elsewhere in Florida will pay less property tax this year than they would have paid if Amendment 1 had not passed in January and property values had not declined. However, owners of $420,000 and higher properties who have a lot of their property [...]

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