Time to Refinance your Mortgage in Florida

Everyone is looking to refinance!

Yahoo has recently listed "home refinance" keyword in its top 10 "trending now" column.

It's no surprise that after years of sitting tight, homeowners are finally realizing that they can lower their mortgage payment and get a lower mortgage rate by refinancing. The lender guidelines have relaxed a bit, so more homeowner and homebuyers qualify for better loan.

But what i don't see is home buyers clamoring to close and snatch up a house before the rate go back up. Low rates are just as much of an incentive to buy a house, as tax credit or low prices.

At 3.875% (no points) that a 15 year loan will give you, most people will save over $200 on their mortgage payment.

30 yr fixed loan runs at about 4.25% with no points with a mortgage broker, such as Faith Home Loans.

The truth is most banks are unable to offer such low rates without a buydown. We have quoted numerous clients in the past few days with the rates being so low and were able to solidly beat all their quotes from Bank Of America and Chase and Citi by at least 0.5%

 

The advantage of refinancing with Faith Home Loans or another broker rather than a bank is the fact that they can shop your rate around multiple lenders for the best one. Banks only have ONE rate.

If you'd like to find out more information about how you can save more than $200 off your monthly mortgage or get a quote on a purchase loan, contact:

Faith Home Loans, Inc

1-800-801-6080

contact@fhlmail.com

or pre-qualify:http://www.faithhomeloans.com/refi.html


re-blogged from www.AndrewOllick.com/realestateblog
SW Florida Homes www.andrewollick.com
SW Florida Luxury Homes www.oceanhomesrealty.com
SW Florida New Homes and Builders www.newhomes-ae.com

Naples Home Market Statistics, 2nd Quarter 2010- Price Increase.

Prices for homes in Naples HAVE been going up as evidence by this median sales price market report. The median sale price for homes in Naples for the last quarter has been $192,500. This is a 6.4% increase or $11,500 compared to the first quarter of 2010 and a 10% increase compared to 2009.

 Is this an indicator of the Naples home market rebounding or are we going to see a second decrease in home prices?

It is anyone's guess! However I personally believe that Naples, being a world class destination, will not see any further softening. Sales prices for homes in Naples have depreciated 43.3% over the last 5 years, which is virtually half of what they were in just 2005.

Families and indivuduals with money have always been attracted to Naples with its pristine beaches, world class shopping and dinning and upscale entertainment and residences and that will continue keeping the home prices in Naples relatively stable. As evidenced by the fact that the most popular neighborhoods in Naples in 2010 have been Park Shore, Old Naples, Moorings, Royal Harbor, Port Royal, and Coquina Sands,
luxury home communities, mainly on the water or with bundled golf.





The home buying frenzy in Naples slightly cooled down by the end of the summer as expected, which for a prospective buyer would mean less competition at still low prices. If in the past we have seen multiple bids on most Naples listings on the market with buyers fighting over Naples homes, now only the lowest priced listings in Naples get the same attention, while others sit on the market for slightly longer.




Average price per square foot in Naples has been steadily increasing over the last year, going from $137/sq.f last August to $244/sq.f in August 2010





For more information contact Andrew and Elena Ollick:
Andrew and Elena Ollick

Amerivest Realty

PHONE: 239-206-4500

TOLL FREE: 800-801-6080

FAX: 888-264-1080

EMAIL: eo@oceanhomesrealty.com

http://www.andrewollick.com/

http://www.oceanhomesrealty.com/

http://www.newhomes-ae.com/

re-blogged from www.AndrewOllick.com/realestateblog

SW Florida Homes http://www.andrewollick.com/

SW Florida Luxury Homes http://www.oceanhomesrealty.com/

SW Florida New Homes and Builders http://www.newhomes-ae.com/

Mercato condos and The Strada, an Extraordinary Lifestyle

Naples, Florida's new premier luxury condo complex truly shows how things have to be done. Naples, being the #1 place for rich and (not necessarily) famous, has its share of beautiful upscale communities and condominiums. Some feature Naples waterfront and oceanfront condos, others offer Naples luxury amenities such as tennis and golf, but Mercato decided to take the "City" lifestyle and turn it RICH.

 

Noone will insist that the area is particularly large, or that shopping is not to miss, or that there's great nightlife at the Strada at Mercato in Naples, Florida. However, certain touches of this little luxury city enclave make me a New York City Lover go back to it over and over again.

First and foremost, the Strada has the one and only Whole Foods store in Southwest Florida, let alone Naples itself. And what New Yorker can live with Whole Foods?

 

Secondly, Silverspot, the first Cine Unidos luxury movie theater in the US, makes the Mercato a hard to miss spot in Naples. Silverspot theaters feature massive hand-stitched, custom-made leather seats with plenty of arm and leg space and a lumbar support that induces instant relaxation. It has a full service restaurant attached to it and food and wine can be brought into the theaters to munch on.

Blue Martini, a night hot spot for locals and tourists of Naples alike is also located at the Mercato.

Multiple dining choices included an authentic British pub, a great Asian restaurant AZN, PURE oasis, a pizza shop, Bravo and a yogurt choice, among other options.

A cigar store is about to open next to numerous clothing, book, home and furnishing shops

The city chic styling of the whole area including the architecture and streets turns from Floridian to upscale modern New York at night. The street lights, reminiscent of gaslight districts, turn the night streets into  a rainbow of colors. It's truly a different place at night. One that calls for partying and drinking and having fun with your friends.

 

If the stores, dining and entertainment isn't enough to make you check out Mercado in Naples, Florida, then THE RESIDENCES will.

All luxury units above the shops include natural gas cooking and granite counter tops. "[The] privacy is secure with enhanced sound abatement; commercial grade windows with impact glass; A/C storage; private elevator access; and two secured parking spaces in the exclusive resident garage. A private daily beach shuttle takes residents to and from Vanderbilt Beach"

Units vary from 1 bedroom to 3 bedroom condos, all complete with luxurious interiors and lavish master baths.

The amenities include a heated 52' infinity pool, waterfall and spa, fire pit, designated Fenced and Grassy Dog Walk area with "Pooch Station", clubhouse, fitness center- everything that will remind you of a luxury lifestyle led by New York finest.

And if that's not enough, Vineyards Park is only steps away with tennis courts, racquetball courts, sand volleyball, basketball courts and much more.

But to truly understand the charm and chic of Mercato, one must spend a day enjoying its offerings.

To preview Mercato's condo units and Mercato floorplans and get a tour of the area, please CONTACT US at the following numbers:

Andrew and Elena Ollick

Amerivest Realty

PHONE: 239-206-4500

TOLL FREE: 800-801-6080

FAX: 888-264-1080

EMAIL: eo@oceanhomesrealty.com

http://www.andrewollick.com/

http://www.oceanhomesrealty.com/

http://www.newhomes-ae.com/

re-blogged from www.AndrewOllick.com/realestateblog


SW Florida Homes http://www.andrewollick.com/

SW Florida Luxury Homes http://www.oceanhomesrealty.com/

SW Florida New Homes and Builders http://www.newhomes-ae.com/

Why buy a home? Advantages and Disadvantages of Homeownership

Why buy a home? A chief economist from the National Association of Home Builders discusses why it is still a good idea to buy a home, even after the first time home buyer credit has expired.

 

Southwest Florida's Bowman's Beach, the only Florida's beach in the Top 10 Secluded Beaches in U.S.

photo by Gregory

According to Sherman's Travel, the only beach in Florida worth being named in the top 10 secluded beaches in U.S. is our very own, Southwest Florida's Sanibel Island's Bowman's Beach.

Seeking out sun, surf, and sand is an easy enough task, but is it possible to stir seclusion into the mix, too? Our editors say “shore”! We’ve dug deep into our arsenal of secret sands to present our top picks for secluded U.S. beaches, where quiet coasts invite in-the-know sunbathers to savor their relative solitude. Sure, some of these destinations are fairly remote (some even require off-the-path travel to offshore islets), but some of the most isolated shores are right under beachgoers’ noses, in popular stateside spots like Florida, California, and Hawaii. You’ll just have to plan a visit soon – while these semi-private sands remain undiscovered for the moment, the cat’s officially out of the bag.

It is very curious to note that Florida is only mentioned once in this article with the only beach, being in Southwest Florida. It makes me very proud. Florida beaches are known for its beauty and calm, tropical torquoise waters and white sand beaches, however most recent lists I've seen feature Virginia, NY and Carolina's beaches. It feels good to have our own southwest florida's beach on the list.

The secret's out about the beauty of Sanibel Island’s linen-white sand beaches – situated about 25 miles southwest of Fort Myers, Florida – so you won’t be alone in searching for a stretch of a secluded U.S. beach to call your own. But that’s just what you’ll get when you leave your car and make the quarter-mile walk to Bowman’s Beach, Sanibel’s most peaceful place. The island is well-known as one of the best shelling spots in the country, but you’ll find little competition here. There’s minimal development and ditto on amenities – though Bowman’s does have one perk not found on any other beach on Sanibel: barbecue grills.

Buyer's Market vs Investor's Market

The Mass Media and Naples realtors have been screaming about Naples, as well as Florida as a whole, being a buyer's market.

THE ADS SAY:"NOW IS THE TIME TO BUY!"

And who can argue? Home prices in Naples have gone down more than 50% off construction cost.

---

The problem for ordinary Naples home buyers becomes the fact that Naples investors came out of their hiding places with all their stashed cash to pounce of foreclosures. That might seem like a good thing for the market, however, cash wielding investors negotiate much lower prices to due the immidiate nature of the purchase, thus lowering the prices further. To add to the problem, eager investors take over bids that would normally go to good Naples homebuyers, who would finance the property and use it as as a primary residence.

If anyone has ever worked with a Naples real estate agent and tried to put in a bid on a reasonably priced Naples property, they would have discovered that it take 3-4 offers to get one accepted by the bank. Banks want NOW and they want CASH. They will take a lower bid in cash over a higher one with financing contingency. That makes some cash investors quite unrealistic.
I've had people call me with the following words:
"I have cash and I'd like to offer "here goes an offer that is 50% less than asking price" on a property located 123 Main Street, Naples FL".

Some first time primary residence home buyers have gotten the impression that cash will do miracles. However they are wrong- cash only goes so far. That's why it's pretty important to have an experienced Naples agent who has worked on Naples foreclosures and Naples short sales, negotiated a few of those and knows where the breaking point for a one or another seller would be . Also this changing market requires us, Naples realtors, to adjust accordingly and FAST. How many realtors have met who still don't know how to use internet well, who fumble with Facebook, sign everything in person, have only paper copies of documents?

Getting back to the Naples investors issue, the problem is they don't let normal hard working buyers get a chance at buying a good property. They win. Every time. You work with a client, you put in 2,3,4 bids in and NOTHING. Then the homebuyer finally agrees to start bidding higher than the asking price, like you've been trying to coach him/her. And that's how you get a contract accepted. A Calculated risk of paying higher price over actually getting the house.

I see several scenarios that will happen after the investors have bought up all the possibly Naples inventory.

They start selling it! At a higher price! Market value starts going up: good for the Naples market and Naples homeowners , bad for the average Naples homebuyer.

Or we see another inventory rise, which coupled with a new foreclosure wave will lower the Naples prices to where we have them now.

Either way,
what an average Naples homebuyer should get out of is this:
Buy and buy now! It WILL be hard to actually get a contract on a good Naples home, unless you're willing to be over the asking price. However, it's well worth.
It's like the stock market and the Naples Homes stock has been upgrade to "BUY".

What a Naples investor should get out of this:
Get your money out and cash in on the greatest feeding frenzy there has been in a long time.

What's come down is bound to come back up!
So arm yourself with a good Naples realtor, and start shooting!

FYI: Naples Home StatisticsNumber of Naples homes bought in cash: 5,135Number of Naples homes financed with 20% down: 2,125