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Naples Florida Real Estate
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Naples Florida Real Estate
Naples Florida Real Estate

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Coastal residence in FLORENCIA with Miami influence. Total renovation 3 years ago, all designer finishes. Owner concentrated on highlighting great views of the Bay, Mangroves, Gulf, and bringing their natural light into the living space . Custom cabinetry throughout, designed for continuity, and functionality. French limestone floors in main living areas and high grade carpeting in the 3 Bedrooms. Creative lighting with art glass tables and quartz countertops enhance the open great room ambiance.
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Location, Location! Come and see this spacious open floor plan unit in prestigious and sought-after Pelican Bay. This privately gated unit offers first floor access with a paved courtyard entry. Nicely appointed, freshly decorated, with gleaming hardwood flooring and tasteful furnishings, with great natural light. Easy walk to fitness center, tennis courts, pools and easy access to beach! Pelican Bay is noted for its fabulous amenities.
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NEW YORK – Aug. 28, 2017 – Florida’s population swells by more than 1,000 people every day, many of them retirees relocating for the second halves of their lives. And it’s easy to see why: Even in the coldest months of the year, the average daily high is at least 70 degrees, and the temperature rarely dips below 50.

Florida is also one of the most tax-friendly states in the country for retirees. There is no state income tax, and permanent residents are eligible for a homestead exemption of up to $50,000. Seniors may qualify for an additional exemption.

But Florida is a big state, with diverse options on both coasts – or inland, if hurricanes or rising sea levels strike too much fear in your heart. (Generally, the hurricane risk on Florida’s west coast is less than on the east coast.) We’ve rounded up five great Florida retirement destinations that are affordable and offer access to top healthcare systems. Take a look.

Sarasota

Population: 53,583
Cost of living (national avg. = 100): 108.1
Median single-family home price (national median = $265,500): $275,000
Median condo/townhome price (national median = $246,000): $215,500
Share of population 65+ (national avg. = 14.1%): 24.4%
Life in this small city moves a bit more slowly than in St. Petersburg and Tampa, but Sarasota offers plenty of amenities. Examples are the many restaurants and 130-plus stores in the island shopping center of St. Armands Circle, as well as access to the Sarasota Memorial Health Care system, which is one of the largest public health systems in Florida.

Located along the Gulf of Mexico, Sarasota has miles of white-sand beaches. Homes a few miles inland tend to be newer and more affordable than homes along the waterfront, which start at about $500,000. Nature lovers will find lush landscapes and subtropical wildlife at the local parks, as well as at Celery Fields (an erstwhile celery farm now known for its birds and wetlands) and the Marie Selby Botanical Gardens. Sarasota also has a lively and diverse arts scene, which includes a ballet company, art museums and an 80-member orchestra.

Gainesville

Population: 127,559
Cost of living: 100.9
Median single-family home price: $224,625
Median condo/townhome price: $120,500
Share of population 65+: 8.9%
Gainesville is smack in the middle of the state, which means it’s 75 miles from the ocean. But during hurricane season, that’s not such a bad place to be. And the home of the University of Florida offers many benefits for retirees looking to escape the cold and the high cost of living up north.

In addition to Florida Gators football and basketball, the city offers 13 museums and galleries and a thriving downtown. Residents age 60 and older can enroll in courses at the University of Florida at no cost on a space-available basis. In addition, the Institute for Learning in Retirement at Oak Hammock, a retirement community affiliated with the University of Florida, offers an extensive roster of courses, many of them taught by university professors. (Seniors don’t have to live in the community to participate.)

Gainesville was founded as a health care resort. Now, medical care is available through the university’s Shands Hospital and the North Florida Regional Medical Center.

Naples

Population: 20,603
Cost of living: N/A
Median single-family home price: $405,000
Median condo/townhome price: $264,000
Share of population 65+: 50.8%
The growth in Naples, which gets a top grade from the American Lung Association for air quality, has been fueled by a torrent of retirees attracted by miles of beaches, gracious homes and giant banyan trees. But you don’t have to be retired to like living here. The Naples-Marco Island area was ranked number one in the 2014-15 Gallup-Healthways Well-Being index, which measures residents’ views about health, financial security, community and sense of purpose.

NCH Healthcare System, which operates a hospital downtown and one in north Naples, offers a range of specialties, including rehabilitation and cardiac, cancer and geriatric care. It’s a member of the Mayo Clinic Care Network, which connects its doctors with Mayo Clinic specialists.

Residents pay a premium to live the good life, particularly in Old Naples. Home prices range from about $240,000 for a small condo to more than $5 million for homes on the beach, says Sharon Kaltenborn, a real estate agent for Sotheby’s International Realty.

St. Petersburg

Population: 250,713
Cost of living: 96.2
Median single-family home price: $248,450
Median condo/townhome price: $160,000
Share of population 65+: 16.7%
Home prices here range from $165,000 to $1 million (or more). North East Park, Old Northeast and the rest of the inner northeast side of St. Petersburg offer a mix of bungalows, Craftsman-style cottages, large ranchers and enough Spanish-influenced design to suggest you’re in Pasadena or Santa Monica. You can easily bike or walk to neighborhood bars and restaurants and to St. Pete’s artsy downtown.

St. Pete and Tampa – the area’s other, higher-rising central city – include an array of theaters, concert halls, stadiums, colleges and hospitals, but without the density and congestion of Miami or the inflated real estate costs of Palm Beach and Boca Raton.

The city of St. Pete extends 10 miles west to the Gulf of Mexico, where you can follow a 20-mile beachfront road north to Clearwater, home of the giant Morton Plant Hospital complex and the area’s best-known beaches, most of which are free or nearly free. You can also explore the area via the Pinellas Trail, one of America’s best recreational trails. It starts in downtown St. Pete by the Tampa Bay Rays’ ballpark and links a variety of commercial and suburban neighborhoods.

Punta Gorda

Population: 17,288
Cost of living: N/A
Median home price: $165,000 (all properties)
Share of population 65+: 50.8%
Because nearly half of its residents are age 65 and older, Punta Gorda is wise to recognize its strong senior presence and do all it can to satisfy them. You can find numerous retirement communities, restricted to people age 55 and older, that offer waterfront sites, golfing, fishing and other activities. In town, the Harborwalk along Charlotte Harbor is just a portion of the 18 miles of bike trails and pedestrian pathways you can enjoy.

Source: The Kiplinger Washington Editors
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NEW YORK – Aug. 1, 2017 – More than 126,000 U.S. homes were flipped last year – the highest rate since 2007, according to a study by WalletHub. The average gross profit on a single home flip? Nearly $63,000.

Overall, Florida metro areas ranked in the top 25 percent for home flipping, with only cities in South Florida ranked below 50 percent. Miami ranked lowest out of Florida metros for home flipping, but at No. 110 it still ranked better than about 25 percent of all U.S. metro areas.

WalletHub looked at three broad categories to create its “Best & Worst Places to Flip Houses” study:

Market Potential: ROI, purchase price, share of home flips, average days to flip and more
Renovation & Remodeling Costs: Average costs for kitchens, bathrooms, full homes and more
Quality of Life: Crime rates, schools, walkable park access, job growth and more
Tampa was the only Florida city to make the top 10, though Orlando followed closely behind at No. 16.

Florida ranking of top flipping metro areas out of 150 in U.S.

6. Tampa (Market potential 8; remodeling costs 19; quality of life: 66)

16. Orlando (Market potential 29; remodeling costs 23; quality of life: 70)

24. Pembroke Pines (Market potential 33; remodeling costs 63; quality of life: 25)

36. St. Petersburg (Market potential 6; remodeling costs 79; quality of life: 79)

51. Cape Coral (Market potential 98; remodeling costs 71; quality of life: 18)

55. Jacksonville (Market potential 14; remodeling costs 69; quality of life: 111)

58. Tallahassee (Market potential 42; remodeling costs 34; quality of life: 128)

69. Port St. Lucie (Market potential 83; remodeling costs 85; quality of life: 24)

84. Fort Lauderdale (Market potential 49; remodeling costs 58; quality of life: 134)

90. Hialeah (Market potential 24; remodeling costs 83; quality of life: 121)

110. Miami (Market potential 91; remodeling costs 87; quality of life: 116)

Florida cities also ranked in the top five in some of WalletHub’s secondary reports. Orlando, for example, is third nationwide for the number of real estate agents per capita. Only Seattle and Atlanta have more.

Tampa (No. 2) and Orlando (No. 3) made the top five for the percentage of home flips. Only Memphis, Tenn., had more.
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WASHINGTON – July 28, 2017 – U.S. Rep. Ted Deutch (D-Florida) and Rep. Elise Stefanik (R-New York) introduced the “Canadian Snowbird Visa Act” into the U.S. House.

Under the bill – which would need to be passed by Congress and signed by the president to be law – Canadians would be allowed to stay an extra two months in the United States if they own or lease a home.

Deutch says the bipartisan measure would be good for business because Canadians visiting Florida add about $4.5 billion annually to the state’s economy.

“If our chilly neighbors to the north want to spend more time on our warm Florida beaches, we should welcome them with open arms,” Deutch says.

Canada is the top source of international visitors to Florida, but the numbers have been falling, according to Visit Florida, the state’s tourism organization. Approximately 3.2 million Canadians visited Florida in 2016, down 15 percent from the previous year.

Existing law limits the amount of time a Canadian visitor may spend in the U.S. to 182 days per year – about six months. Deutch’s bill would permit Canadians over the age of 50 who own or rent a U.S. residence to stay in the U.S. for an additional two months each year. They would be prohibited from working for a U.S. employer or collecting public assistance, and they would still be subject to the vetting process required by law.

Source: Fort Lauderdale Sun-Sentinel (07/28/17) Swisher, Skyler
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WASHINGTON (AP) – July 27, 2017 – Long-term U.S. mortgage rates fell this week for the second week in a row, despite the Federal Reserve’s efforts to lift borrowing costs.

Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages slid to 3.92 percent from 3.96 percent the previous week. While historically low, that is still above last year’s average of 3.65 percent.

The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, eased to 3.2 percent from 3.23 percent last week.

Mortgage rates haven’t increased much even though the Federal Reserve has boosted its benchmark rate four times in the past 18 months. That’s because mortgage rates follow the yield on the 10-year Treasury note, which is influenced by many factors. Greater demand by overseas investors can lower the yield.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
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LOS ANGELES – July 27, 2017 – Arizona, Nevada and Washington, D.C. are among the 11 states where it’s more affordable to rent than it is to buy a home. But owning a home still beats renting in Florida, according to a study by website GOBankingRates.

GoBankingRates surveyed all 50 states and the District of Columbia, and identified which states are best for buying a home and which are better suited for renting. The study, based on rental data on Zillow, was sourced to June 28, 2017. For the cost of owning, the study assumed a 20-percent downpayment on a 30-year fixed loan.

In Florida, homeowners have the advantage. They GOBankingRates study found that the average monthly rent of $1,543 is $167 higher than the cost of an average monthly mortgage of $1,376. The difference amounts to about $2,000 per year that the average Florida family would save by owning rather than renting, though actual savings would differ by metro area and other variables.

The 11 states where renting a home is less expensive than buying one include Arizona, Colorado, Washington, D.C., Hawaii, Idaho, Montana, Nevada, North Carolina, Oregon, Utah and Wyoming.
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WASHINGTON – June 28, 2017 – Existing housing inventory has declined year over year each month for two straight years, but new consumer findings from the National Association of Realtors® (NAR) offer hope that the growing number of homeowners who think now is a good time to sell will eventually lead to more listings.

NAR’s latest quarterly Housing Opportunities and Market Experience (HOME) survey also found that fewer renters think it’s a good time to buy a home, however, and respondents are less confident about the economy and their financial situation than earlier this year despite continuous job gains.

The homeowner trend is gaining steam in the HOME survey, however. This quarter, 71 percent of homeowners think it’s a good time to sell, which is up from last quarter (69 percent) and considerably more than a year ago (61 percent). Respondents in the Midwest (76 percent) surpassed the West (72 percent) for the first time to be the most likely to think now is a good time to sell.

There’s an apparent mismatch between homeowners’ confidence in selling and actually following through and listing their home for sale, says Lawrence Yun, NAR chief economist.

“There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more equity, or hesitant, seeing as it will be difficult to find an affordable home to buy,” Yun says. “As a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.

“Perhaps this notable uptick in seller confidence will translate to more added inventory later this year,” Yun adds. “Low housing turnover is one of the roots of the ongoing supply and affordability problems plaguing many markets.”

On the decline: Renter morale

Confidence among renters that now is a good time to buy a home continues to retreat. Fifty-two percent of renters think it’s a good time to buy, which is down both from last quarter (56 percent) and a year ago (62 percent). Conversely, 80 percent of homeowners (unchanged from last quarter and a year ago) think now is a good time to make a home purchase. Younger households and those living in urban areas and in the costlier West region are the least optimistic.

The surge in economic optimism seen in the first quarter of the year appears to have been short lived. The share of households believing the economy is improving fell to 54 percent in the second quarter after soaring to a survey high of 62 percent last quarter. Homeowners, and those living in the Midwest and in rural and suburban areas, are the most optimistic about the economy. Only 42 percent of urban respondents believe the economy is improving, which is a drastic decrease from the 58 percent a year ago.

Dimming confidence about the economy’s direction is also leading households to dampen previously strong feelings about their financial situation. The HOME survey’s monthly Personal Financial Outlook Index on respondents’ confidence that their financial situation will be better in six months fell to 57.2 in June after jumping in March to its highest reading in the survey. A year ago, the index was 57.7.

“It should come as little surprise that the confidence reading among renters has fallen every month since January (64.8) and currently sits at its lowest level (53.8) since tracking began in March 2015 (65.7),” says Yun. “Paying more in rent each year and seeing home prices outpace their incomes is discouraging, and it’s unfortunately pushing homeownership further away – especially for those living in expensive metro areas on the East and West Coast.”

Fewer respondents believe homes are affordable; 1 in 5 would consider moving

In this quarter’s survey, respondents were also asked about the affordability of homes in their communities. Overall, only 42 percent of respondents believe they are affordable for almost all buyers, with those living in the Midwest being the most likely to believe homes are affordable (55 percent) and West respondents (29 percent) being least likely to think homes are affordable.

Additionally, 20 percent of respondents would consider moving to another more affordable community. Those earning under $50,000 annually (27 percent) and those age 34 and under (29 percent) were the most likely to indicate they would consider moving.

“Areas with strong job markets but high home prices risk a migration of middle-class households to other parts of the country if rising housing costs in those areas are not contained through a significant ramp-up in new home construction,” says Yun.

Source: Florida Realtors
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NEW YORK – June 29, 2017 – Nearly 4.5 million borrowers are eligible to refinance and lock in savings on their monthly mortgage payments but haven’t done so, according to a new report from Black Knight Financial Services.

The average borrower stands to save $260 a month, and nearly 700,000 borrowers could save $400 or more per month, the report shows.

However, a rise in interest rates could put current homeowners who did refinance in a bind: Even if they want to move, they may decide it’s unaffordable if their current low interest rate will rise by a point or two when they secure a new loan for a bigger house. The owners who did not refinance, even if they could, won’t have that issue holding them back.

“The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance,” says Lynn Fisher, the Mortgage Banker Association’s vice president of research and economics.

Why aren’t many current homeowners not refinancing?

“Our data doesn’t tell us about motivation,” says Ben Graboske, senior vice president of data and analytics at Black Knight Financial Services. “It leaves us to surmise that the reason is apathy, lack of awareness and education.”

Some homeowners may still be underwater on their home loans and unable to refinance yet, owing more than what the home is currently worth. Other owners may have a low credit score blocking them from taking advantage of lower rates.

Still, owners likely will have more time to take advantage of today’s low mortgage interest rates.

“I don’t think this will be the last opportunity [to refinance into a low rate], but I don’t have a crystal ball,” says Graboske. “There are enough pressures in the market – lenders getting more efficient – that we’re going to have competitive rates around for a while.”

Source: “Reason to Refinance: 4 Million Homeowners Are Leaving $1 Billion on the Table,” CNBC (June 22, 2017)
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WASHINGTON (AP) – June 29, 2017 – Long-term U.S. mortgage rates were unchanged to lower this week, as the benchmark 30-year rate reached a new low for the year.

Mortgage buyer Freddie Mac said Thursday the 30-year fixed-rate mortgage averaged 3.88 percent, down from 3.90 percent last week. The rate stood at 3.48 percent a year ago and averaged a record low 3.65 percent in 2016.

The 15-year, fixed-rate home loan, popular with homeowners seeking to refinance their mortgages, was unchanged last week at 3.17 percent.

Mortgage rates have remained low even though the Federal Reserve has been raising short-term interest rates. The Fed has increased its key rate by a quarter-point three times since December, most recently this month, to a range of 1 to 1.25 percent.

At the same time, would-be home buyers are facing higher prices and fewer options. Sales listings have plunged 8.4 percent over the past 12 months to 1.96 million. The median sales price in May rose 5.8 percent from a year ago to $252,800.

Data issued Wednesday by the National Association of Realtors showed that Americans signed fewer contracts to buy homes in May, the third straight monthly decline and evidence that a shortage of homes for sale has suppressed purchases.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage this week was unchanged at 0.5 point. The fee on 15-year loans also held steady at 0.5 point.

Rates on adjustable five-year loans increased to 3.17 percent from 3.14 percent. The fee remained at 0.5 point.
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