Naples Florida Real Estate News - 05/25/07

May 29, 2007 Posted in Real Estate News 

This might not be news - but Friday, May 25th is the start of the Memorial Day Weekend Holiday.  Please remember the purpose of Memorial Day.

FLORIDA HOME SALES

Florida’s home sales remained soft in April though the inventory of homes continued to ease in many markets across the state, according to the Florida Association of Realtors. A total of 12,016 existing single-family homes sold last month for a 26 percent decrease from the April 2006 figure. The statewide existing home median price was $237,800.

These figures do not include or reflect the Naples real estate, Bonita Springs real estate, nor Estero real estate markets.

Information furnished by the Florida Association of Realtors, does include the sale of existing condominiums in the Bonita Springs, Estero or Naples areas.

FLORIDA REAL ESTATE TAXES

A Miami-based citizens’ group with some influential backers is preparing to launch a statewide petition drive for a constitutional amendment to lower property taxes.

MORTGAGE RATES

According to Freddie Mac’s weekly nationwide survey, rates on 30-year mortgages jumped to 6.37 percent – the highest level in seven months – as hopes diminished for Federal Reserve rate cuts any time soon.

FLORIDA GROWTH

If Florida continues to grow at its current pace, its population will double to about 36 million.  One third of the state’s land will be covered in roads, homes and businesses by mid-century, according to a study commissioned by University of Central Florida’s (UCF) Metropolitan Center for Regional Studies.

Will this current pace of growth reveal that the demand for Florida real estate, will have an affect on the price of real estate?

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