Gulf Coast Associates' Blog: All Categories

The January thru September Bonita Springs real estate market statistics for both home and condominium sales are listed below. Bonita Springs, known as the "Gateway to the Gulf" is conveniently located between Ft. Myers and Naples and is one of Southwest Florida's most rapidly growing areas. When you combine the fantastic year round weather with the city's endless lifestyle choices and small town charm, it's easy to understand why so many people consider Bonita Springs a great place to call home.

Bonita Springs Sales Data

Bonita Springs Home Sales January-September 2008*:

• 511 Closed Sales
• Average Sales Price - $606,153
• Median Sales Price - $395,000
• Average Days on Market - 190
• Price/Square Foot - $227.88

Bonita Springs…

The January thru September Sanibel Island real estate market statistics for both home and condominium sales are listed below. Sanibel Island, known as the "Shelling Capital" of the world, is one of Southwest Florida's true treasures. Only 12 miles long and 5 miles wide, Sanibel is a haven of natural beauty, very romantic, and a place of solitude. Imagine seventeen miles of pristine soft white sand beaches all surrounding waterways, mangroves and wetlands teeming with abundant wildlife. Throw in the island's quaint shopping experiences, numerous dining and nightlife choices, and 300 plus days of sunshine and you have the perfect Southwest Florida living destination.

Sanibel Island Sales Data

Sanibel Island Home Sales January-September 2008*:

• 92…

Southwest Florida real estate sales continued to show strength in August. It marks seven straight months of real estate sales increases for Bonita Springs and Naples and eight straight months for the Ft. Myers area including Cape Coral.

While lower prices appear to be the driving force behind these increases in sales, other factors are also playing an important role. International buyers are not only finding many well priced properties; they also have much more buying power because of the current weak dollar. Falling mortgage interest rates are helping too. Savvy buyers are recognizing that many affordable opportunities now exist and are quickly grabbing up their piece of the Southwest Florida dream.

Here are some examples of August's sales… Read Full Post

In a historic, yet widely anticipated, move yesterday Secretary Henry Paulson announced plans to put Fannie Mae and Freddie Mac under government custody. The unprecedented move by the Treasury includes replacing both company's CEOs, ending all stock dividends, and creating a new preferred stock that will be senior to all other outstanding shares.

The authority for such a move was granted to the U.S. Treasury in the recently passed Housing and Economic Recovery Act and was included in the bill to help protect the $5.4 trillion in outstanding mortgages the companies currently hold. Both Government Sponsored Entities (GSEs) have been under severe pressure over the last year. Their stock shares have fallen over 90% and the markets have had severe doubts about…

There appears to be a fair amount of confusion over the new First-Time Home Buyer Tax Credit that was included in the recently passed Housing and Economic Act of 2008. Quite frankly, it is not surprising. While driving over this past holiday weekend, we heard at least four different radio ads by various companies and all of them made it seem like this program was a free ride. The reality is something else altogether.

Here’s how the program actually works:

• To be eligible, home buyers must not have owned a home for the last three years. The ownership test applies to both partners in a marriage.
• The tax credit (refund) will be equal to 10% of the purchase price of the property up to a maximum of $7,500.
• The tax credit (refund) is $3,750 for…

The Department of Veterans Affairs (VA) is raising ceilings on its no down payment home loans from the current $417,000 to as much as $729,000. The increases are effective immediately under legislation recently enacted by President Bush's signing of the Housing and Economic Recovery Act of 2008.

The new law also improved the VA’s Specially Adapted Housing Program. It raises primary grants from $50,000 to $60,000 toward constructing a new home or modifying an existing home to meet the needs of veterans or active duty service personnel with certain service-connected disabilities. Additional new features to this program are a provision that allows veterans with certain service disabilities arising from severe burns to receive the adaptive housing grants and…

The mid year 2008 The Brooks real estate market statistics for both homes and condominium sales are listed below. Encompassing 2,532 acres of natural Florida surroundings, The Brooks is master planned gated community consisting of five major and distinct communities - Copperleaf, Lighthouse Bay, Rapallo, Shadowwood and Spring Run. Each community is gated and sports a different kind of lifestyle. All five communities pivot around The Town Center and The Commons Club at The Brooks which also provides numerous amenities. With its central location in Bonita Springs and its variety of lifestyle choices and price ranges, The Brooks is a highly sought after place to live.

The Brooks Mid Year Sales Data

The Brooks Home Sales January-June 2008*:

• 71 Closed…

It looks like wind storm homeowner's insurance costs may become more expensive for some Florida homeowners come next year. Citizens Property Insurance Corp. officials announced this past Tuesday they will require some 350,000 wind-only customers within the state to reapply for coverage beginning February 1, 2009.

Citizens is the state's insurance company of last resort and has become the largest insurer in Florida covering some 1.2 million customers. The company cited two reasons for the changes. One, they are modernizing their wind only policies and integrating everyone with that type of coverage into their new internet based computer system; and, two, they want to ensure that these homes are insured up to their true replacement cost values.

A synopsis…