Nina Link's Real Estate Blog

What Does it Cost to Refinance?

2009-09-10T14:01:00.000-07:00

by: Gerry Teeven of Element Funding

What does it cost to refinance? What are the benefits?

Ever heard the old rule of thumb, you should only refinance if your new interest rate is at least two points lower? That may have been true years ago, but with refinancing dropping in cost over the last few years, it's never the wrong time to think about a new loan! Refinancing has a number of benefits that often make it worth the up-front expenditure many times over.

To read more of this article ......click below!

What_does_it_cost_to_refinance.pdf

What is your Schools Grade?

2009-07-28T13:11:00.000-07:00

How does your school stack up??

Collier_County.pdf

Lee_County.pdf

Million Dollar-Plus Market Shows Signs of Life

2009-07-28T12:15:00.000-07:00

Click below to read how the Million Dollar Plus Real Estate Market is coming back.....

MillionDollarPlus.pdf

Imperial Golf Estates Market Report - May 2009

2009-05-22T11:45:00.000-07:00

Click below to see what has sold in your community!

Imperial_Golf_Estates_Market_Report_May_2009.pdf

Gateway Market Report

2009-05-22T08:57:00.000-07:00

Click below to see what has sold in Gateway in 2009!

Gateway_Market_Report.pdf

Naples, Bonita and Estero,April 2009 Market Report

2009-05-21T13:33:00.000-07:00

Click below to read the Market Report for Naples, Bonita and Estero.....I think you'll like what you see!

April_2009_Market_Report.pdf

Imperial Golf Estates Market Report

2009-04-28T09:00:00.000-07:00

Please_click_to_read_the_Imperial_Golf_Estates_Market_Report

Gateway Market Report

2009-04-17T09:06:00.001-07:00

Please click to download the Gateway Market Report

Real Estate Market 2009

2009-02-12T10:39:00.000-08:00

To see how the 2009 Real Estate Market is shaping up as compared to the real estate market of 2008......click below. Let me give you a hint....things are looking up!

Your_Link_to_the_2009_Marketing_Report.pdf

2009-01-29T11:44:00.000-08:00

HOMEBUYERS ON A SHOPPING SPREE...
Inventories declining as median home price dips
SPECIAL TO FLORIDA WEEKLY
REALTOR ASSOCIATION OF GREATER FORT MYERS & THE BEACH, INC

Sales of existing homes in the Greater Fort Myers area were up an 181 percent December, with a total of 1,034 properties sold, compared to 367 during December 2007, according to a report by The Realtor Association of Greater Fort Myers and the Beach, Inc. Short sale and bank-owned properties continue to influence market prices, as the median price dropped to $97,750, which is below 2003 levels.

The Naples Area Board of Realtors reported that sales continue to increase as December marked 11 consecutive months of market improvement. The NABOR report tracks home listings and sales within Collier County (excluding Marco Island).

In the Greater Fort Myers area, the report said there were 10,326 single family homes for sale during the month of December, with an estimated 8.8- month supply of inventory - this is in sharp contrast to a year ago when the inventory supply was nearly 23 months. Sales activity remains steady with 1,178 properties pending, an increase of 137 percent versus the prior year.

"Earlier in the year, we predicted that sales of existing single-family homes for the year would surpass 2003 and 2007 levels. We are extremely pleased that, in fact, the sales pace was much greater than anticipated as we surpassed 2004 sales by 6.5 percent and 2006 sales by 7.1 percent," said Association President Suzanne Sherer. "We believe that sales volumes will continue to grow as lenders have priced properties aggressively to move them and now that inventory levels are under nine months, we expect that many properties will receive multiple offers."

In Collier, the available inventory decreased to 10,851 in December 2008 compared to 11,456 in December 2007.

"Over the last 12 months, 5.3 percent of the available inventory has depleted, indicating that the properties that are priced right are being picked off. Inventory is not building up exponentially," said 2009 NABOR President-elect JP Antonmattei with Amerivest Realty.
The average days a property was on the market decreased 23 percent to 156 days in December 2008 compared to 203 days on the market in December 2007.

"For the 12 months ending December 2008, overall sales have increased 33 percent. This increase leaves fewer properties to choose from, which is why we are seeing a drop in the average days on the market," said John Steinwand, president of Naples Realty Services.

The report provides annual comparisons of single-family home and condo sales (via the Sunshine MLS), price ranges, geographic segmentation and includes an overall market summary.
Overall pending home sales in the Greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, increased 100 percent, with 519 pending in December 2008, compared to 259 in December 2007.

"Season arrived early for single family homes under $300,000 as pending sales increased 513 percent. This shows that choice properties that are priced right are quickly disappearing," said Mike Hughes, vice president of Downing-Frye Realty.

Overall condo pending sales increased 46 percent, with 196 in December 2008 versus 134 in December 2007; and pending condo sales under $300,000 increased 165 percent, with 151 in December 2008, compared to 57 in December 2007.

Low Mortgage Rate and Low Home Prices

2009-01-18T12:29:00.000-08:00

These are unprecedented times! The combination of low mortgage rates and low home prices make this an excellent time to buy.

Mr. Opportunity is knocking. Isn't it time you answered the door?

With mortgage rates and home prices at an almost unprecedented low, buyers have tremendous opportunities in 2009 to get into the home of their dreams.

Jean Chatzky, NBC Today Show's financial editor, confirmed this on a recent episode saying that if you are in the market and you have saved a 10, 15 or 20% down payment, you have a plethora of housing options available.

On a local level, according to a report from IHS Global Insight and National City Corp, Naples is one housing market that is surprisingly undervalued by nearly 20%. The nationwide study considered interest rates, household incomes, population densities and historic data to determine fair values.

As of November, the average sales price in Naples, Bonita Springs and Estero was at 2004 levels, so there's no doubting that great purchase opportunities exist, says Dottie Babcock, chief operating officer of John R. Wood Realtors.

Don't miss out on these great opportunities, contact me today at 239.357.5058.

I am your LINK to real estate!

Mortgage Update from my friends at SouthView

2009-01-18T12:15:00.000-08:00

The good news is that the efforts of the Federal Reserve and Treasury are beginning to show an effect and helped stabilize the banking industry. Most experts agree the rate cuts and stimuli will remain in place throughout most of the year. The bad news is that unemployment will continue to rise through the first half of the year - a major hindrance to overcoming the "fear factor" of potential homebuyers.

The fears should be overcome by two factors. First, as home prices fall and the actual cost of owning a home becomes less than renting (and we are already there in part of our market) - first time homebuyers will jump in. The credibility of Wall Street and the stock market continue to erode and the media will soon focus consumer attention on the reality of real estate now being a "safe" investment. That will stimulate both primary and second homebuyers and even some individual investors.

How will rates impact 2009? We know that rates are at all time lows and that real estate prices are also very attractive. The two factors could certainly help spark a real estate revival in 2009. We expect rates to hover in the 4.75% to 5.75% range through at least the first part of this year and then to slowly move back over 6% towards the end of the year - or when inflation again becomes a factor. We may never see rates this low again in our lifetime and probably won't want to because we know what induces them. Some may ask why many banks raised their rates when the Fed made their last cut. Quite simply, with all the staffing cuts lenders made last year, banks could not handle the refinance volume so that is how they handled demand. The same holds true with jumbo rates and commercial paper. Until lenders have a comfort level with the economy they really don't want large long term loans on single entities. We should continue to see competitive rates on 3 and 5 year fixed jumbo ARMS (5.25 – 6.0%) because investors can convert/sell those notes when economy changes. FHA and VA rates continue to remain in the 5.25 - 5.75% and remain the viable opportunity for those with limited funds or damaged credit. Low rates and home prices at 2004 levels preview a brighter year in 2009.

The Fed's latest actions have pushed down 30 Year fixed Mortgage rates to a range of just over 5%. Mortgages are available with no points, or pay 1/2 a point or so and watch the rate be substantially lower.

Contact SouthView Mortgage for more details: 239-963-1900.
Correspondent Mortgage Lender License #CL 100000021

Fort Myers Home Sales Skyrocket

2009-01-18T10:23:00.000-08:00

Just in case you missed the article by Max Turnier with WINK news, he has stated that the December 2008 sales have increased dramatically over the last year. Actually, the sales on homes have increased 181 percent! Compared to December 2007, there have been approximately 700 more homes sold in 2008. Because of short sales and foreclosures, the market prices are remaining low.

The most intense period of the recession is behind us

2009-01-14T08:30:00.000-08:00

Not in front of us.

According to a recently published article (which I have included a link to the full article below) here are some interesting points....

Hourly wages rose in December and up from December 2007
Real wages likely rose from a year-ago which is the fastest increase since '72
Consumer purchasing power has increased since last year
Decline in gas prices are saving consumers approximately $410 billion in yearly expenditures
Initial claims for unemployment have dropped

Please take a few moments to read the entire article. It is quite interesting and certainly provides us with a different view of things to come.

Link to article: http://www.forbes.com/opinions/2009/01/12/recession-stimulus-unemployment-oped-cx_bw_0113wesburystein.html

Brian S. Wesbury is chief economist, and Robert Stein senior economist, at First Trust Advisors in Lisle, Ill. They write a weekly column for Forbes.com.

This Holiday...

2008-12-18T08:01:00.001-08:00

may joy sing softly in your heart,

may peace fall gently upon your rooftop,

and may happiness be as close as your own front door.

The Numbers Don't Lie

2008-08-28T12:20:00.000-07:00

John R. Wood continues to be the market leader

While the National Association of Realtors reported a 2% drop in existing single-family home and condo sales in March 2008, the Florida Association of Realtors reported a 10% increase in sales from February to March 2008.

Naples and Southwest Florida are also fairing better than the national average. Just look at these statistics from John R. Wood Realtors.

Pended sales in this corner of the market for the month of March 2008 were down 9% when compared with March 2007. Meanwhile, the Wood firm saw an impressive 39% increase in pended sales when comparing March 2008 to March 2007.

For the first quarter 2008, pended sales units are nearly even with the same period 2007, down less than 2%. However, John R. Wood reports its pended sales units are up 29% for the quarter.

Why are pended sales so important? Closings don't typically occur until 60 to 90 days after a contact is written, which means "it is old news by the time it happens," said president Phil Wood."Pending sales are the way to immediately see what is happening in today's market."

Finally, while closed sales units for the first quarter 2008 are down approximately 2% in this market, John R. Wood again reports a substantial increase with closed units up almost 16%.

"Price more than any other factor, continues to drive the market," said Dottie Babcock, chief operating officer for John R. Wood. "A decrease in median sales price, combined with inventory, which has shown little change during the first quarter, offers many 'great buy' opportunities."

Other notable news - a Reuters/Zogby poll finds that 54% of Americans think it is a good time to buy a home. Consumer confidence also improved in April, up to 95.5% from 87.7% in March. "Despite months of negative economic news, the overall mood of Americans is showing some signs of improvement - even though most still believe the U.S. is in the midst of a recession," the poll said.

What does all of this say about Southwest Florida and John R. Wood? "Our agents are doing a better job than anyone else in the market in getting our listings sold,"said Babcock. "We are doing a more effective job of helping buyers find the best buys and guiding them toward informed buying decisions."

Looking to Buy or Sell??

I AM your John R. Wood Agent and your Link to Real Estate!

Southwest Florida Real Estate Market Update

2008-06-20T07:47:00.000-07:00

Summer is here and the sun is shining on the Real Estate Market!

Last week I was reading an article in the Florida Weekly that I would like to share with you. Those of us living in southwest Florida "have reason to feel encouraged by the real estate market". Lee County sales figures for single family homes have grown and there is more activity in the market. There has been a 61.9% increase in May sales from the same time last year. Pending sales have increased 76.9%.

Please take the time to read the entire article - the rainbow is here!
More ...
-------
In a report released by the Naples Area Board of Realtors, Collier County is enjoying the increase in activity too! Arlene Carozza, president of NABOR, stated in the report that "not only are the numbers impressive for post-season sales, but more significantly, this is the 4th consecutive month of increased market activity." The volume of inventory that we've seen in the last few years is decreasing and the prices seem to have stabilized.

To view the entire May report, go to http://www.naplesarea.com/realestate_news/FINALMAYPRESSRELEASE.pdf .
-------

March/April Newsletter Highlights

2008-03-14T16:30:00.000-07:00

Online Sleuthing for Homebuyers
The Web has helped homebuyers find places to live for years, but a number of sites have emerged that provide a raft of information beyond price, location and photos.

Comparison Shopping -Trulia.com and Zillow.com will show you just about any type of information about a house. Users can enter a city, town or zip code and see a listing of every home for sale, sort by price, address, number of bedrooms or bathrooms, broker or type of home.

What the Neighbors Say - Other sites are designed to give users a look at neighborhoods through the eyes of the people who live there. On StreetAdvisor.com, based in Melbourne, Australia, buyers can look for input from residents of a particular street, about their neighbors, local services and more.

Is It Green - Several sites cater to concerns about energy efficiency and the environment. Walkscore.com rates the walkability of a neighborhood by the proximity of stores, restaurants, schools, parks, libraries and more. At EnergyStar.gov users can find builders working with the EPA to build homes that meet the government's Energy Star standards for energy efficiency.

Schools, Crime, News - GreatSchools.net and SchoolMatters.com give information for public and private schools, including test scores, student ethnicity, student-teacher ratios and spending per pupil. Parents can rate schools for principal leadership, teacher quality, extracurricular activities, parent involvement, safety and discipline. For crime stats, AreaConnect.com/crime and FamilyWatchdog.us provide addresses and pictures of registered sex offenders.
Source: The Real Estate Journal

Ultimate Flourless Cake ~ Submitted by Wanda Campbell of Lehigh Acres, FL.

8 Large Eggs
1lb bittersweet Chocolate
1/2 lb unsalted butter
1/4 cup Kahlua or Coffee

Have all ingredients ready before starting.
1. Adjust oven rack to lower middle position. Preheat oven to 325 degrees. Line bottom of 8” spring form pan with parchment paper. Butter sides of pan. Set the spring form pan on a wide sheet of heavy duty aluminum foil and wrap the foil up the sides without tearing it. Set this pan is a larger baking pan or roasting pan. Bring kettle of water to a boil.

2. Beat eggs with handheld mixer at high speed until the
volume has doubled (approximately 5 minutes) If using a stand mixer (like Kitchen Aid) use the whisk attachment and speed 6.

3. Meanwhile, melt chocolate, butter & Kahlua in a large heat proof bowl set in a pan of barely simmering water until smooth and warm. Stirring frequently. Remove from heat. Using a rubber spatula, fold 1/3 of egg foam into chocolate until just a few streaks of the egg are still visible. Fold in half of the remaining egg foam, then fold in the remaining egg foam until all the egg is incorporated into the choc. batter.

4. Scrape batter into the prepared spring form pan. Set the roasting pan on the oven rack, add enough boiling water to come halfway up the side of the spring form pan. Bake until cake rises slightly and an instant read thermometer read 140 degrees (approx. 22-25 minutes) Remove spring form pan from water bath and allow cake to cool to room temperature on rack. Cover and refrigerate for at least 24 hours.

5. About 30 minutes prior to serving, remove sides of pan.

I like to add slightly sweetened whipped cream & raspberries. You can sprinkle powered sugar or cocoa.

Sounds wickedly delightful!

Thanks Wanda for this "delicious" recipe. This is great for those watching the "carb" intake!

Call me today if you or anyone you know has questions

regarding real estate.

I am your LINK to real estate!
239.357.5058

2008-02-06T09:15:00.000-08:00

Just an except from my January/February newsletter...

2008 has started off with a bang for me. I have relocated my office to the Bonita Springs office of John R. Wood Realtors. I see this move as a great opportunity for myself, my buyers and my sellers. I will not only be a member of the National Association of Realtors, the Greater Fort Myers and The Beach Board of Realtors but also the Bonita Springs-Estero Board Association of Realtors. By listing with me, your home will listed on BOTH the Fort Myers MLS & the Bonita Springs/Estero MLS. This will give you even greater exposure to buyers from all over southwest Florida. If you are looking to buy, I will be able to get a more complete overview of what is on the market all over Southwest Florida. If you or your family or friends are looking to buy or sell a home...please give me a call!

I look forward to 2008 being a great year for Real Estate.

Call me today if you or anyone you know has questions
regarding real estate.

I am your LINK to real estate!
239.357.5058

Realtors® Report Shows It's What's Outside That Counts

Many buyers judge a house by its exterior, or so it seems from the results of the 2007 Remodeling Cost vs. Value Report. Three of the four projects with the highest national percentage of costs recouped this year were exterior upgrades.

The most profitable project on the national level was upscale siding replacement, recouping 88 percent of costs upon resale. Wood deck additions and wood window replacements also returned more than 80 percent of costs. On a national average, the only interior project to return more than 80 percent of remodeling costs for 2007 was a minor kitchen remodel.

NAR President Dick Gaylord explains, "The results of this year's Cost vs. Value report underscore the importance of curb appeal in the buyer's eye,' He goes on to say, 'Realtors® know what attracts buyers in their local markets and can help your house put its best far."

Gaylord explained that the resale value of any given remodeling project depends on a variety of factors. "When considering a remodeling project, particularly with an eye toward resale, it's important to evaluate your home's current condition, how the project will change the existing space in you" said Gaylord. Source: National Association of Realtor®.

All Hail Peanut Butter!
Who knew that peanut butter could be a dieter's best friend?
*It helps you lose weight - The combination of fiber and protein that fills you up and keeps you
feeling full longer, so you eat less.
*It's packed with nutrition - A serving has 3 mg of the antioxidant vitamin E, 49 mg of bone-building magnesium, 208 mg of muscle-friendly potassium and 0.17 mg of immunity-boosting vitamin B6. Wow.
*It has the good fat - It's chock-full of heart-healthy monounsaturated fat. Oh, and if you're buying reduced-fat peanut butter, save your money. The calories are the same thanks to the extra ingredients that are added to make up for the missing fat.
To buy the best, here's what to look for:
* Sodium - Higher sodium content can mask the peanut flavor.
* Sugar - Natural brands have 1 to 2 g of sugar - about half as much as commercial brands.
* Spoon licking - Smucker's Natural or Organic have the best peanut flavor of the mass-market brands. Source: MSN Health & Fitness

Pumpkin Soup ~ submitted by Donna Jeary from Rochester, NY
3 Cups sliced Carrots (fresh, not frozen)
1 10-12oz can of fat free, low sodium chicken broth
3 Cups canned Pumpkin
12 oz fat free evaporated Milk
1/4 cup water
1 TBS sugar or Splenda
1 1/2 tsp pumpkin pie spice
1/4 tsp salt or salt sense or Mrs. Dash
1/4 tsp ground white pepper
8 oz Pumpkin Soy Milk (available at Publix)
Combine Carrots & 1 cup broth in sauce pan, bring to a boil. Cover, reduce heat and simmer 15-20 minutes. Let cool slightly, transfer carrots and broth to a blender or food processor—cover & process until smooth. Transfer to a 3 qt saucepan, add remaining broth, pumpkin, evaporated milk, water, sugar, pumpkin pie spice, salt & pepper. Cook over medium heat, stirring frequently until hot. Stir Pumpkin spice soy milk & heat for another minute. Serve Hot.
Leftovers can be refrigerated or frozen. You can substitute another can of broth for the pumpkin soy milk. Low fat, low calories, low sodium—YUM!

Thank you Donna for sharing this wonderful recipe with us!

Submit your favorite recipes, comments or questions to Nina@NinaLink.com

If you would like to be added to my mailing list, please email me and I'll be sure you receive the next publication!

Wishing you all a wonderful New Year..... Nina