Reversing an eight-month slump, residential real estate sales rose 3.8 percent in Southwest Florida in August. The state picture Statewide, buyers closed on 25,070 single family homes in August, up 8.2 percent. Condo sales grew 3.3 percent to 9,484, Florida Realtors said. Homes throughout Florida traded for a median $225,000, 12.6 percent more than last year, while condos sold for $160,000, a 6.7 percent gain. The activity erased the 8 percent decline in sales in July, said Brad O’Connor, … [Read more...]
Main Street Holds up as Wall Street Struggles
Wall Street is hurting, and Main Street doesn't care. It's got burgers and cars to buy. Big losses in stock markets around the world this year have the wingtip-set fretting, but regular consumers across the United States are confident enough to open their wallets and spend more. It's an about-face from the early years of the economic recovery, which began in 2009, when stocks and big banks were soaring but many on Main Street felt like they were getting left behind. "It's almost like a … [Read more...]
Florida Housing Market Report – October
The Florida housing market reports for October higher median prices, fewer days on market and a constrained inventory of homes for sale in October, according to the latest housing data released by Florida Realtors®. Statewide closed sales of existing single-family homes rose last month with a total of 22,147, an increase of 1.2 percent over October 2014. "October marked the 47th consecutive month that statewide median sales prices increased year-over-year for both single-family homes and … [Read more...]
Second Homes – Flood Insurance Increases
Bill Protects Second Homes from Flood Insurance Increases WASHINGTON – July 8, 2015 – Reps. Patrick Murphy (D-Fla.) and Carlos Curbelo (R-Fla.) want to extend a law that limits annual flood insurance premium hikes. The law currently covers owners of Florida primary residences, and the lawmakers want it to also cover owners of second homes and rental properties. While a number of Florida homeowners and investors would hail passage, however, its eventual passage is a long shot. The … [Read more...]
Vacation Home Sales Soar
Vacation Home Sales Soar to Record High in 2014, Investment Purchases Fall WASHINGTON (April 1, 2015) – Vacation home sales boomed in 2014 to above their most recent peak level in 2006, while investment purchases fell for the fourth straight year, according to an annual survey of residential home buyers released by the National Association of Realtors®. NAR’s 2015 Home Buyers Survey,* covering existing- and new-home transactions in 2014, shows vacation-home sales catapulted to an estimated … [Read more...]
Existing Home Sales Explode
Existing home sales explode as spring home buying season officially arrives Surges to highest level in 18 months Existing-homes sales surged to their highest annual rate in 18 months, showing a promising beginning to the spring home buying season, the latest report from the National Association of Realtors® (NAR) said. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 6.1% to a seasonally adjusted annual … [Read more...]
Useppa Island in the Upcoming Issue of Fine Homes Magazine
The Upcoming Issue of Fine Homes Magazine - Discover Useppa Island … [Read more...]
Useppa Island Real Estate Market Report – Fall 2014
Useppa Island Real Estate Market Report - Fall 2014 Useppa Island real estate activity has been marked by unusual late summer closings, and early fall contracts. There was a late August closing of Grand View Cottage in the Village to a family from Iowa, and an October closing of North Point Cottage, to existing Useppa residents, who now have two Useppa homes; one for personal, and one for rental. So far, 2014 has seen four single family closings, three of them to Useppa residents, and one to … [Read more...]
Looking to buy real estate near the water? Update on Flood Insurance Rates
Useppa Island Real Estate Continues to Watch Flood Insurance Rates. Lloyd's of London and other private insurers have muscled into the market, picking up customers stunned by rate hikes under the National Flood Insurance Program. The emergence of private companies into the market could be a boon for thousands of Floridians who face huge rate increases under the federal program because their homes were built decades ago in low-lying areas. Lloyd's, the venerable London-based institution, began … [Read more...]
304 Useppa Island – The Price of Paradise Just Got Better
The Price of Paradise Just Got Better at 304 Useppa Island One of only 110 homes on Useppa Island, it could be called one of the most romantic location on Florida's Gulf coast. The grand double-door entry is a prelude to the three story “Old FLORIDA” coastal vernacular of nearly 3,300 sq. ft. Dramatic living spaces include lofty ceilings, center island granite kitchen opening to a generous dining room and living room with fireplace. An expansive screened porch features a breathtaking panorama … [Read more...]