HOME SALES – In second quarter 2007, Florida’s housing sector continued to report higher inventory levels of homes for sale, median prices edging down and sales activity reflecting a buyer’s market. Statewide sales of single-family existing homes totaled 37,709 during the three-month period, a decrease of 30 percent compared to the same time a year earlier, according to the Florida Association of Realtors. The statewide median existing home sales price was $239,200.
The median price for the second quarter of 2007 for the Naples real estate market was $461,000, the Bonita Springs real estate market was $525,000, and the Estero real estate market was $370,000. More comparative and analysis of sales information will be forthcoming later in the day.
MORTGAGES – The subprime-mortgage crisis has affected many aspects of the mortgage business, sometimes in subtle ways. Many lenders have tightened requirements for everything from borrowers’ income verification and credit scores to home-appraisal reports.
MORTGAGE DISCLOSURES – Federal bank regulators published a set of voluntary disclosure forms yesterday designed to give borrowers a better understanding of a mortgage’s terms. Critics say it’s not enough – only new regulations will help.
FORECLOSURES – RealtyTrac issued its summary of nationwide foreclosures for the first half of 2007 yesterday – Naples, Bonita Springs, nor any Florida cities made the top 5. Miami, however, did make the top 10.
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