Naples Real Estate

Are you a first time home buyer who is moving to Naples, Marco Island, or Bonita Springs? Do you already live in Southwest Florida, but have not purchased a home previously? Does this process scare you? Please do not let it, because it is easier than you might imagine. We believe it can all begin with choosing the right Realtor: Chris and Dick Dovorany. However if you would feel more comfortable reading about it first, you might want to try “The Automatic Millionaire Homeowner” by David Bach. It is not a lengthy tome, but an understandable quick read, that explains the basics of buying that first home. Mr. Bach believes that purchasing a home is the smartest investment you will ever make, and we agree. It can also be one of the most exciting experiences of your life.

According to University of Florida economists, Floridians are feeling better about their finances. Consumer confidence in the month of March rose significantly for citizens of the Sunshine State. Areas where people think things are improved include personal finances, short and long term economic conditions in the U. S., and the time to make major purchases.

You may have heard about the U. S. Treasury Department’s decision to resume sales of 30-year bonds. But did you know that there could be a ripple effect to the mortgage market. Always looking for a new product, lenders are now thinking of creating 40 and 50 year mortgages. They would do this in order to make housing more affordable, as well as make a market niche, which is a great idea for the Southwest Florida real estate market. For example, a 30-year, $200,000 mortgage at 6.5% would have a $1,264.14 monthly payment. If the term was extended to 40 years, the payment would drop to $1,170.91, or 7.4% decrease. Going to a 50-year term, the payment would drop even further to $1,127.43, or almost an 11% lessening from the 30-year figure. With all the formulas used by lenders today, this could make home ownership a reality for a lot of Floridians in Naples, Bonita Springs, and Marco Island.

The PGA tour event hosted by Greg Norman and held at Tiburon Golf Club has a new sponsor. Merrill Lynch will replace Frankin Templeton as the title sponsor, and the event will be know as the Merrill Lynch Shootout, starting this November. An unofficial tour event, the tournament features 12 two-person teams over 54 holes, with each 18 holes having a different format. The first day is alternate shot, the second better ball, and the final day is a scramble. This years event will be held November 8-12, and will be televised by CBS. The tournament also extended their deals with the Ritz-Carlton Golf Resort and WCI Communities, Inc. to ensure that it will be held at Tiburon through 2010. Greg Norman, the architect of Tiburon’s two courses, also announced that Annika Sorenstam has been invited to take part in this years event, becoming the first woman to be so honored.

Looking for someone you can trust with probably the biggest investment you will ever make? Go to your Realtor. With one of the oldest code of ethics, almost 100 years, for any trade group in the country, the National Association of Realtors and its members subscribe to a code that serves and protects the public. You can count on a Realtor to provide honesty and integrity in all transactions. This is even more important in today’s environment due to the disclosure requirements, environmental regulations, and the number of mortgage and financing options available. Sellers and homebuyers can trust their real estate professional. As an added safe guard, all Realtors are required to complete an ethics training course every 4 years.

The historic landmark in Olde Naples, Haldeman House, has been moved. Built in 1886, and sold sometime later to Kentucky newspaper publisher Walter Haldeman, the home on 12th Avenue South, adjacent to Naples Pier, has been in the family until sold this past November. Purchased by Naples resident Gerald Goldberg in order to subdivide the waterfront lot, the house was offered to any local historical society or museum that would move it. When no one had the money, Chris Busk, a Bonita Springs landscape architect came to the rescue. Offering to take it and move it to a location where Mr. Busk maintains a collection of other historic homes, the house was cut up into four portions in order to make its move to Pennsylvania Avenue in Bonita Springs, where it will be renovated. Other homes in Mr. Busk’s collection include the 1915 Williams-Packard home and the 1913 E. P. Nutting fishing cottage.

If you need a job, please come to Florida. With the fastest growth rate for jobs plus the lowest unemployment rate, 3.0%, of the 10 most populous states, Florida is the place to be. (The national rate was 4.7% for January, 2006) Along with boasting the highest number of new jobs in any state, the weather, activities, and lifestyle make living in Florida a dream come true. And your investment in Southwest Florida real estate will make a move even more attractive. With an extraordinary number of homes on the market, now is the perfect time to find your ideal new home in Naples, Bonita Springs, or Marco Island.

Southwest Florida is booming! According to the Milken Institute Best Performing Cities Index the Naples-Marco Island metropolitan area was ranked third in the nation, while Cape Coral-Fort Myers was second, in this measurement of where jobs are being created in America. The report’s leading author and the Institute’s director of Regional Economics, Ross DeVol stated that they have “all the makings of a job-creating machine: good weather, low costs, a growing population, a strong tourism industry and little heavy manufacturing.” This report ranked the top 200 largest metro areas.

An important issue has been proposed for an amendment to the Florida State Constitution, that will have an effect on all homeowners who make the state their home. This proposal would increase the homestead exemption, presently at $25,000, by $2,500 per year for the next ten years to reach an eventual $50,000 total. The exemption is the amount that is used to reduce the total value of the home before applying the property tax rate. This dollar amount applies equally to any property, whether it is Marco Island, Bonita Bay, Park Shore, Olde Naples, Golden Gate Estates, Pelican Bay, The Brooks, or Barefoot Beach, as long as it is used as the owner’s primary residence. A word of caution however, you must apply for this homestead exemption. Also this proposed amendment still has a long way to go before becoming law, including passage through both the state House and Senate, and then by a vote of Florida residents