• An increase in sales of existing homes is forecast during 2008, according to the latest projection from Dr Lawrence Yun, Chief Economist and the head of research for NAR. The increase is unlikely to be large but it he is confident it will break the recent downward trend now that the past months mortgage problems are being worked out and stabilized.
  
  He reported in December "Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.”
  
  "The improvement in the Northeast reaffirms a trend apparent for some months now that shows signs of recovery, noteworthy because that was the first region to slump, and the gain in the West indicates some easing of interest rates for jumbo loans,” Yun said.
  
  Dr Yun constantly has access to study a wealth of actual past and present sales data to formulate and project sales trends before publishing any conclusion.
  
  Of course, there are many factors that are hard to estimate and work into any such prediction, such as the effect on buyers confidence to purchase while being constantly told by the media that things will get worse. Lets hope the media soon realise that while the cause can be attributed to such things as the unhealthy and frenzied buying in 2005 along with the sub prime mortgage market, the continuation of the decline now is directly related to the media's drive to report everything negative, at every opportunity and in any form available. If the positive predictions where promoted with such determination and emthusiasm, there would be a much quicker recovery.
  
  To read DR Yun's full article, Click Here

  14 Dec 2007

• Foreclosure Tax Relief while Florida grows !!
  Relief bill for homeowners advances
  
  With many home owners facing financial hardship following the changes in the housing market, including some people in Carlton Lakes, some relief may be on the way and has the backing of the President, reports Florida's Association of Realtors.
  
  WASHINGTON – Oct. 5, 2007 – Financial relief for homeowners facing foreclosure or in bankruptcy advanced in the House Thursday when the House approved legislation to help financially strapped homeowners.
  
  The bill, passed by a 386-to-27 vote, would give a tax break to homeowners who have mortgage debt forgiven as part of a foreclosure or renegotiation of a loan. No taxes would be owed on the value of any debt forgiven or written off. Currently such debt forgiveness is taxable income.
  
  President Bush praised the House action.“I urge the Senate to swiftly consider this legislation and make it temporary,” Bush said in a statement.
  
  The House vote was the latest congressional reaction to a mortgage crisis touched off this spring by a blowup in high-priced home loans for risky borrowers, throwing a pall over the economy. Foreclosures are at record highs and late payments are spiking. Lenders have been forced out of business and investors have taken huge financial hits.
  
  Read the FAR full Story, Click Here
  
  Growth, stability and opportunity in the Sunshine State
  
  Florida Association of Realtors also reports in ORLANDO, Fla. – Oct. 4, 2007 –The Milken Institute/Greenstreet Partners 2007 Best Performing Cities Index – 200 Largest Metros, along with its complementary study of the best 200 small metro areas, ranks cities on their ability to create and sustain jobs, which translates into employment opportunities and salary growth.
  
  For the third consecutive year, Florida metropolitan areas scored high on the 200 Largest Metros index, taking three of the top six spots – including this year’s top-ranked metro, Ocala.
  
  The Orlando-Kissimmee MSA ranked No. 5, followed by Naples-Marco Island at No. 6. According to the research, Ocala, as well as the Orlando-Kissimmee and Naples-Marco Island metro areas in Florida, scored well in the index because of their tourism and tech-based manufacturing.
  
  Read the FAR full Story. Click Here

  6 Oct 2007

• 2007 First Half Year Sales Statistics
  2007 is proving to be as difficult as 2006 in many ways but there are signs of improvement and balancing in the general Naples market but it isn't showing in Carlton Lakes as yet.

  
  

  Prices continue to come under pressure from Buyers, who still have plenty of choice available and Sellers, who are in some cases are forced to sell for what they can manage to get.

  
  

  Condo's sales have increased but at a heavy cost reduction in terms of the actual selling prices reducing by around a 1/3rd, compared to June of 2006.

  Half Duplex have also been hit hard with no sales at all for 16 months from Dec 2005 until two sold in May 2007 for around 40% reduction on the sales price, compared to the begining of that period. Condo's reduced by around 35% and Single family homes reduced by around 24% for that same 16 months.

  
  
  

  Single Family Homes
  The number of Single family homes sold in the first 6 months has reduced in quanity compared to 2006 but sales prices have only reduced by around 12% compared to June of 2006.

  
  

  Single Family Homes units sold to end June 2007
  
  Single Family Homes sale price to end June 2007

  
  

  Single Family Homes pending to June 2007
  
  

  Condo's
  

  The number of Condo units sold in first 6 months this year almost doubled, compared to last year.
  

  
  

  However, when you compare the prices in June 07, Sellers were accepting around 66% of the previous years June sold prices in order to get them moved

  
  

  Condo's Number of sold units to end June 2007 (below)

  Condo's Median Sales price to end June 2007 (below)

  
  

  Condo's Number of pending sales (below)
  Half Duples Homes

  Half Duplex Sold units to end June 2007 (below)Half Duplex Mediun Sold Price to end June 2007 (below)
  
  Half Duplex Pending sales to end June 2007 (below)
  
  
  

  26 Jul 2007

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