Sanibel Real Estate Blog: Florida is Still Growing

December 21st, 2016

According to a recent AP news release: Florida officials estimate that by 2030, the number of people 65 and over will have increased about 80 percent from 2010 census figures, reaching about 6 million. That’s a lot of peeps!

If we can help with your Sanibel real estate relocation issues- give us a call at RE/MAX of the Islands, 239-849-3396 or check out our website at www.chuckandrews.com

Have a happy and safe holiday and an excellent 2107!.

Sanibel Real Estate Blog: Avoid Wire Fraud

December 14th, 2016
Lots more fraud going on these days and the National Association of Realtors has provided a few tips to avoid these:

1.Set up formal policies.If you’re a broker, implement formal policies and procedures within your office to inform your real estate professionals of warning signs. Give them ways to ensure that office transactions are secure. The National Association of Realtors suggests that brokers implement a comprehensive Data Security Program and Document Retention Policy. (For more on this, visit www.realtor.org/law-and-ethics/nars-data-security-and-privacy-toolkit.)

2.Secure email accounts.Make sure that any email account used in the transaction is secure. Insecure emails accounts are prime targets of hackers, so always use encrypted emails when sending sensitive information.

3.Don’t click. If you receive an email regarding a transaction that contains any suspect information, do not click on any links in the email and do not reply.

4.Don’t use free emails or Wi-Fi. For business accounts, do not use any free email accounts, such as Gmail, Yahoo or Hotmail, to name a few, and never use free Wi-Fi to conduct business. It is also important to always use strong passwords and change them often.

5.Pick up the phone.Although online communications may make transactions more streamlined, when conducting wire transfers, the sender should always phone the fund recipient to verify wiring instructions before sending funds.

In the event of a data breach where money has been wired, immediately try to reach the bank to stop the funds from being transferred. Contact all interested parties to let them know of the potential breach, report the breach to the FBI Internet Crime Complaint Center (ic3.gov) and your local association.

Have no fear- we at RE/MAX of the Islands are aware of the scam and will make sure your wire instructions etc are sent only through the secure mail provided by them. We will not send you wiring info on our private email accounts.

With that worry over you can now check out Sanibel real estate! Visit our website at www.chuckandrews.com or give us a call to discuss Sanibel real estate anytime.

 


Sanibel Real Estate Blog: Kitchens Sell IT!

December 7th, 2016

 

According to realtor.com, of all homes sold 69 percent of the listing descriptions highlight the kitchen as a selling point. Forty-nine percent mentioned the bedrooms and 35 percent highlighted the garage, the next two most popular.

Kitchens sell it and Realtor.com surveyed which added most value and came up with:

  • Custom cabinetry: 41% (the price premium: the difference between homes with the feature and homes without in the same ZIP code)
  • Kitchen island: 30%
  • Creative lighting: 21%
  • Granite counters: 18%
  • Large pantry: 14%
  • Stainless-steel appliances: 12%
  • Tile backsplash: 7%
  • Breakfast bar: 6%

Have some Sanibel real estate with a killer kitchen or looking for some Sanibel real estate with a killer kitchen- check out our website at www.chuckandrews.com or give us a call anytime to discuss buying or selling!

Sanibel Real Estate Blog: Rising Interest Rates

November 29th, 2016

 Sanibel real estate buyers, listen up: long-term U.S. mortgage rates continued to surge last week after the recent election.

Mortgage giant Freddie Mac said Wednesday that the average rate on a 30-year fixed rate loan shot up to 4.03 percent, the highest since July 2015 and up from 3.94 percent a week earlier. The rate on 15-year home loans climbed to 3.25 percent, up from 3.14 percent last week and highest since January.

BUY now before they go higher. We at the Andrews team can help. Check out all new listings on our website at www.chuckandrews.com

Sanibel Real Estate Blog: Some Sanibel/Captiva Stats

November 17th, 2016

Just updated stats on Sanibel real estate and we would like to share the results. As of Nov. 14, 2016: They have been 185 closed home sales and 142 closed condo sales. There are 22 pending home sales and 17 pending condo sales- most likely they will close before the end of year. That will put us right in line with 2015 which ended up with 236 home sales and 175 condo sales.

The median price at this point (and this is Sanibel only- not Captiva) is up 7.86% over last year at $ 755,000. For condos at $584,325, the increase of 1.45% wasn’t as much but we still are hanging in there.

What does this all mean: we have returned to a “normal” market and should remain stable through 2017.

As always we are happy to help with all of your Sanibel real estate questions. Check out our website at www.chuckandrews.com or give us a call to discuss anytime .

Sanibel Real Estate Blog: A ” Rational” Market

November 2nd, 2016

I am going to reference a News-Press article in this blog, because as an agent on the street living with the “stats” everyday, I can say it’s true! The News-Press reported in the business section that 2015 was the peak recovery year (agreed!), 2016 was the beginning of the market correction (agreed!), price growth will remain slow and prices will retreat in  oversupplied segments (agreed!- check your segment, how many  listings are just like yours?) and lastly sellers should be less aggressive as “season” will not improve price position.

The Andrews team is here to help, whether it be Sanibel real estate market segment or something in town– either way call us for your Sanibel real estate needs or check out the website at www.chuckandrews.com

Sanibel Real Estate Blog: Florida is Nearly Normal.

October 27th, 2016

Just reprinted from the Florida Realtor Association:

Fla. real estate market rapidly returning to ‘normal’

WASHINGTON – Oct. 26, 2016 – According to Freddie Mac, the nation’s housing market is almost back to normal or, in Freddie’s terms, “on the outer edge of its historic benchmark range of housing activity.”

The study also found that Florida and many of its metro areas are improving quickly. The state came in second to Nevada as “most improved,” and four metro areas made the top five for most improved month-to-month: Las Vegas, Palm Bay, Tampa, Orlando and Sarasota.

In Freddie Mac’s list of metro areas most improved year-to-year, four Florida cities made the list: Orlando ranked first at No. 1, followed by Tampa, Chattanooga, Palm Bay and Lakeland.

Freddie gauges local and state markets through its Multi-Indicator Market Index (MiMi).

The national MiMi value stands at 85.7, indicating a housing market that’s on the outer edge of its historic benchmark range of housing activity. Nationwide, the country saw a 1.05 percent improvement from July to August, and a three-month improvement of 1.22 percent.

On a year-over-year basis, the national MiMi value improved 5.44 percent. Since its all-time low in October 2010, the national MiMi has rebounded 43 percent, though it’s still off its high of 121.7.

“The housing market is showing strength across the country, and the South continues to show some the biggest improvements, especially in Florida,” says Freddie Mac Deputy Chief Economist Len Kiefer. “MiMi’s purchase applications indicator is up more than 30 percent in Florida compared to last year.”

So maybe it is time to check out that Sanibel Real estate! Check out our website at www.chuckandrews.com, or give Chuck a call to discuss the market anytime

 

Sanibel Real Estate Blog: Florida Real Estate Stats for September

October 21st, 2016

Reprinted from the Florida Real Estate Board info: Florida’s housing market had more new listings, higher median prices and fewer all-cash closed sales in September, according to the latest housing data released by Florida Realtors®.

Tight inventory continues to impact the state’s housing market, noted Florida Realtors Chief Economist Brad O’Connor. Closed sales of single-family homes statewide totaled 22,704 last month, slightly down (0.5 percent) from September 2015. Meanwhile, in the townhouse-condo market, statewide closed sales totaled 8,818 last month, down 3.9 percent year-to-year.

“Florida’s economy continues to grow, resulting in improving jobs and incomes for workers across the state,” says 2016 Florida Realtors President Matey H. Veissi, broker and co-owner of Veissi & Associates in Miami. “In turn, that is generating interest from many would-be buyers who are ready to enter the housing market. However, the latest data shows that a continued lack of inventory – especially in the mid-$200,000-and-under range – is affecting those potential homebuyers, leaving them with limited choices and higher prices as a result.”

Home sellers continued to get more of their original asking price at the closing table in September: Sellers of existing single-family homes received 96.2 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.8 percent (median percentage).

The statewide median sales price for single-family existing homes last month was $222,500, up 11.3 percent from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. Thestatewide median price for townhouse-condo properties in September was $160,000, up 6.7 percent over the year-ago figure.

In September, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 58th month in a row, Veissi notes. The median is the midpoint: half the homes sold for more, half for less.

According to the National Association of Realtors, the national median sales price for existing single-family homes in August 2016 was $242,200, up 5.3 percent from the previous year the national median existing condo price was $225,100.In California, the statewide median sales price for single-family existing homes in August was $526,580; in Massachusetts, it was $375,000; in Maryland, it was $278,578; and in New York, it was $257,291.

Closed sales data reflected fewer short sales and cash-only sales in September: Short sales for single-family homes declined 33.8 percent year-to-year, while short sales for townhouse-condo properties dropped 27.2 percent. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“Even though the number of Florida single-family home sales in September was essentially the same as last year, the composition of this year’s group was quite different – and in a good way,” says Florida Realtors Chief Economist Brad O’Connor. “Distressed sales made up only 10 percent of single family home sales this September, compared to over 19 percent in September 2015. And only 28 percent of sales were all-cash deals this time around, compared to 34 percent last year.

“If our housing markets are going to return to some semblance of what many might term ‘normalcy,’ it’s vital that both of these trends continue.”

Similar to previous months, inventory was at a 4.2-months’ supply in September for single-family homes and at a 5.8-months’ supply for townhouse-condo properties.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.46 percent in September 2016, which was lower than the 3.89 percent average recorded during the same month a year earlier.

IF you are ready to purchase or sell some Sanibel real estate, check out our website at www.chuckandrews.com or give Chuck Andrews a call to discuss the market anytime! Looking for Fort Myers real estate and beyond, give Kimberley a call at 239-935-9235

Sanibel Real Estate Blog: NEW LISTINGS!!

October 14th, 2016

Wow, three new listings in a week!  We are ready for season as we start reloading with some really nice listings. Something for everyone from a totally affordable golf course condo under $200,000 to Gulf front homes at $2,995,000. Check them out at www.chuckandrews.com and give us a call anytime you need info on Sanibel real estateView a. We will keep you posted as the new listings arrive!

Sanibel Real Estate Blog: FLORIDA is #4

September 30th, 2016

The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state’s tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance.

Wyoming once again took first place with the most competitive tax code in the country, while New Jersey maintained its long-standing position at the bottom of the pack.

Overall, Florida ranked fourth. Only three other states were deemed to have a more business-friendly tax code. This year’s most competitive states include:

1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New Hampshire
8. Indiana
9. Utah
10. Oregon

This year’s least competitive states include:

41. Louisiana
42. Maryland
43. Connecticut
44. Rhode Island
45. Ohio
46. Minnesota
47. Vermont and D.C.
48. California
49. New York
50. New Jersey

Time to bring your business to Southwest Florida and if you need help with Sanibel real estate while contemplating a move, check out www.chuckandrews.com for the last Sanibel real estate listings.