Metas
Naples Real Estate News 03/17/08
HOME VALUES - The real estate mantra of "location, location, location" rings particularly true in a slow market. Buyers should do their research, because choosing the right neighborhood could have a big effect on whether or not their home turns out to be a winning investment. Key item to look for is the number of possible short sale, pre-foreclosures and foreclosed properties on the market within a neighborhood or complex. Sellers, if possible, should consider not listing their property as the previous mentioned types of properties, could cause their property’s value to be artificially lowered. Rumor has it that lenders are requesting appraiser not to use "distressed" properties as comparables when completing an appraisal and allowing properties further away from the subject property to be used. Guess it is time to review where "distressed" properties are located in Bonita Springs, Estero and Naples areas.
REAL ESTATE TAXES - Florida’s Taxation and Budget Reform Commission, which has the ability to put constitutional amendments directly on the November ballot, will discuss and vote on three property tax plans today in Tallahassee. Each of the plans would reduce property taxes by at least a third for all property owners, and could save taxpayers statewide between $7 billion to $8 billion a year.
MORTGAGE MARKET - As the damage from the credit crisis spreads and the bad news continues (think cash-strapped Bear Stearns) the Federal Reserve’s attempts so far to alleviate the problems - including a series of interest rate cuts and steps to inject hundreds of billions of dollars into the banking system - have had only short-term benefits. And investors are questioning how much the Fed ultimately can do.
REAL ESTATE INVESTING - The housing markets in college towns have remained relatively stable in the current slowdown, with students, university employees and faculty forming a steady stream of renters and homebuyers. Foreclosures are more common farther away from the University of Florida campus in Gainesville, for example, and finding a good investment property close to campus is difficult because sellers are few and prices are relatively high, says a Gainesville REALTOR®.
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