Home Prices Climb as Supply Dwindles
BY NICK TIMIRAOS/WSJ
Home prices rose bytheir largest percentage in at least seven years during the second quarter,propelled by low inventories of properties for sale and high demand forbargain-priced foreclosures, according to two reports Tuesday.
Prices rose by 2.5% inJune from a year ago, and by 6% from the previous quarter, said CoreLogic Inc.,a Santa Ana, Calif., data firm. The quarterly jump was the largest since 2005.
Separately,Freddie Mac, which uses a different methodology, said home prices during thesecond quarter jumped by 4.8% from the previous quarter. That was the largestjump since 2004.
Saturday, August 11, 2012
Thursday, April 26, 2012
A Sanctuary for Golfers and More
January 5, 2012
, Island Reporter, Captiva Current, Sanibel-Captiva Islander
During a visit to Sanibel Island's Sanctuary Golf Club, one might expect to encounter birdies or even the occasional eagle, but rest assured that's not something necessarily limited to golf scores. It is also a very real reflection of the wildlife that is abundant as the course is surrounded by the J.N. "Ding" Darling National Wildlife Refuge. There's more than golf balls flying over the greens, and soon that space will be complemented by fluttering flashes of orange, yellow and other shades thanks to the creation of a new butterfly garden.
Near a gopher tortoise habitat that is a small crawl away from the 17th Tee, members of The Sanctuary's Wildlife Committee teamed with Sanibel Captiva Conservation Foundation Native Plant Nursery Manager Jenny Evans and Charlie Ewell of Cape Coral Friends of Wildlife to create something of a butterfly Garden-of-Eden in its offerings that include wild lime, corky-stemmed passionflowers, beautyberry, sunflower, penta and salvia... the very stuff that makes both butterflies and caterpillars salivate.
A dozen area children participated in the planting of the garden during a recent "Kids Camp Nature Experience" that the Sanctuary traditionally conducts twice a year.
In addition to getting their hands a little dirty in the planting process, kids got to freshen their perspective on the life cycles of butterflies typically seen on the course, such as Gulf Fritallary, Monarch, Barred Sulphur and Zebra Longwing.
Sanctuary Wildlife Committee Member Denise Carnell says now, the garden will grow to provide a new safe haven for the butterflies and additional educational opportunities during future kid camps. Of course, she notes, it will also add to the beauty of the course for golfers, even on their worst days.
And that's a point not lost on Course Manager Kyle Sweet who has distinct responsibilities in overseeing a golf operation like none other in America. He says the Sanctuary Golf Course is the one and only course in this country which has to annually report to the United States Department of the Interior. Again, this is a condition arising from the course's proximity to the National Wildlife Refuge.
In striving to ensure that the greens remain in tip-top condition for golfers, Sweet is also responsible for ensuring that environmental standards are adhered to in terms of the fertilizers, chemicals and pesticides used - of which all must be approved by the government.
But to be sure, Sweet says The Sanctuary's adoption of those standards were more proactive than reactive. The Sanctuary regards itself as a partner in environmental stewardship, not just a place to play golf. That kind of thinking has helped the facility earn distinction for more than nine years now as a Certified Audubon Cooperative Sanctuary Golf Course.
"We have an extremely unique situation here," says Sweet. "There are no fences, and we're surrounded by a diverse habitat for wildlife."
Sweet says wildlife encounters help ensure that no two days are ever alike at the course. Wildlife includes everything from birds and turtles to snakes, alligators and bobcats. Even on the 13th Green, one will encounter indications that a new wild visitor has recently frequented the course. This pertains to a certain black bear that suddenly arrived on Sanibel, but whose particular whereabouts are currently unknown. In addition to recent sighting throughout the Island, the bear was spotted at The Sanctuary and amidst efforts to tag the bear for tracking purposes, The Sanctuary has erected a bear trap at the course. Thus far, the bear has treated it much like golfers do the sand traps, as something to be avoided.
For now, Sweet says all at The Sanctuary are looking forward to a new year with a new offspring of caterpillars (which will delight local birds) and a new population of butterflies (which will delight in the pollenating practices of plants). For golfers, there is also certain advantages. If anything can counter the dismal display in a triple bogey, it may just be the beauty of the course at Sanibel's Sanctuary Golf Club.
Near a gopher tortoise habitat that is a small crawl away from the 17th Tee, members of The Sanctuary's Wildlife Committee teamed with Sanibel Captiva Conservation Foundation Native Plant Nursery Manager Jenny Evans and Charlie Ewell of Cape Coral Friends of Wildlife to create something of a butterfly Garden-of-Eden in its offerings that include wild lime, corky-stemmed passionflowers, beautyberry, sunflower, penta and salvia... the very stuff that makes both butterflies and caterpillars salivate.
A dozen area children participated in the planting of the garden during a recent "Kids Camp Nature Experience" that the Sanctuary traditionally conducts twice a year.
In addition to getting their hands a little dirty in the planting process, kids got to freshen their perspective on the life cycles of butterflies typically seen on the course, such as Gulf Fritallary, Monarch, Barred Sulphur and Zebra Longwing.
Sanctuary Wildlife Committee Member Denise Carnell says now, the garden will grow to provide a new safe haven for the butterflies and additional educational opportunities during future kid camps. Of course, she notes, it will also add to the beauty of the course for golfers, even on their worst days.
And that's a point not lost on Course Manager Kyle Sweet who has distinct responsibilities in overseeing a golf operation like none other in America. He says the Sanctuary Golf Course is the one and only course in this country which has to annually report to the United States Department of the Interior. Again, this is a condition arising from the course's proximity to the National Wildlife Refuge.
In striving to ensure that the greens remain in tip-top condition for golfers, Sweet is also responsible for ensuring that environmental standards are adhered to in terms of the fertilizers, chemicals and pesticides used - of which all must be approved by the government.
But to be sure, Sweet says The Sanctuary's adoption of those standards were more proactive than reactive. The Sanctuary regards itself as a partner in environmental stewardship, not just a place to play golf. That kind of thinking has helped the facility earn distinction for more than nine years now as a Certified Audubon Cooperative Sanctuary Golf Course.
"We have an extremely unique situation here," says Sweet. "There are no fences, and we're surrounded by a diverse habitat for wildlife."
Sweet says wildlife encounters help ensure that no two days are ever alike at the course. Wildlife includes everything from birds and turtles to snakes, alligators and bobcats. Even on the 13th Green, one will encounter indications that a new wild visitor has recently frequented the course. This pertains to a certain black bear that suddenly arrived on Sanibel, but whose particular whereabouts are currently unknown. In addition to recent sighting throughout the Island, the bear was spotted at The Sanctuary and amidst efforts to tag the bear for tracking purposes, The Sanctuary has erected a bear trap at the course. Thus far, the bear has treated it much like golfers do the sand traps, as something to be avoided.
For now, Sweet says all at The Sanctuary are looking forward to a new year with a new offspring of caterpillars (which will delight local birds) and a new population of butterflies (which will delight in the pollenating practices of plants). For golfers, there is also certain advantages. If anything can counter the dismal display in a triple bogey, it may just be the beauty of the course at Sanibel's Sanctuary Golf Club.
HAS THE HOUSING MARKET FINALLY REACHED BOTTOM??
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If home buyers or home owners are waiting for the housing market to hit bottom before acting, they may have already missed it.
“The crash is over,” Mark Zandi, chief economist for Moody’s Analytics Inc., told Bloomberg about the real estate market. “Home sales—both new and existing—and housing starts are now off the bottom.”
Several economists are saying the bottom of the housing market has already been reached, and the market has been showing several signs of progress, including home prices stabilizing and demand increasing. The economists say they’re optimistic about a recovery in the housing market, despite threats of a foreclosure wave coming.
One of the biggest signs that a sustainable housing market recovery is taking shape: Consumer confidence is up.
"Today's consumer confidence shows labor markets recovering and that confidence is going to allow consumers to go out and buy homes," Chris Rupkey, chief financial economist for Bank of Tokyo-Mitsubishi in New York, told Bloomberg.
Indeed, real estate professionals have been reporting increased activity among home shoppers this spring, too.
"This year's selling season is shaping up to be the strongest we've seen in years," says Margaret Kelly, RE/MAX's chief executive officer. "Although we don't expect home prices to rise in every market at the same rate, the worst is definitely behind us, and a slow, steady recovery is taking hold."
Source: “Housing Declared Bottoming in U.S.,” Bloomberg News (April 25, 2012)
“The crash is over,” Mark Zandi, chief economist for Moody’s Analytics Inc., told Bloomberg about the real estate market. “Home sales—both new and existing—and housing starts are now off the bottom.”
Several economists are saying the bottom of the housing market has already been reached, and the market has been showing several signs of progress, including home prices stabilizing and demand increasing. The economists say they’re optimistic about a recovery in the housing market, despite threats of a foreclosure wave coming.
One of the biggest signs that a sustainable housing market recovery is taking shape: Consumer confidence is up.
"Today's consumer confidence shows labor markets recovering and that confidence is going to allow consumers to go out and buy homes," Chris Rupkey, chief financial economist for Bank of Tokyo-Mitsubishi in New York, told Bloomberg.
Indeed, real estate professionals have been reporting increased activity among home shoppers this spring, too.
"This year's selling season is shaping up to be the strongest we've seen in years," says Margaret Kelly, RE/MAX's chief executive officer. "Although we don't expect home prices to rise in every market at the same rate, the worst is definitely behind us, and a slow, steady recovery is taking hold."
Source: “Housing Declared Bottoming in U.S.,” Bloomberg News (April 25, 2012)
Tuesday, April 17, 2012
LEE HOME PRICES SURGE
Lee home prices surge
April 17, 2012FORT MYERS — The receding market for foreclosed single-family homes in the Fort Myers area pushed median prices of existing homes nearly 34% higher in March compared with the same month a year ago,
The jump in price reflects the shift in the kinds of existing single-family homes for sale in the Fort Myers area. For example, conventional sales made up 63% of sales in March compared with 35% in March 2011 because there were fewer foreclosures and short sales.
Not surprisingly, declines in foreclosure inventory and higher prices led to a drop in the number of existing single-family home sales in Fort Myers in March compared with the same month a year ago. Realtors reported the number of sales fell 18% to 1,278.
The reduction in inventory of existing single-family homes means homebuilders are actively seeking lots in the region again. You can read two recent articles on this trend in the Business Review here: http://www.review.net/section/detail/lot-builders/ and http://www.review.net/section/detail/the-cape-is-back/
Monday, April 16, 2012
Historic Tour To Pine Island
Captiva Cruises’ newest expedition in its Discover Southwest Florida History tours will focus on the fishing cultures in Pine Island Sound, a story of fascinating characters and traditions. The departs from McCarthy’s Marina on Captiva at 10 a.m. on Fridays and proceeds to Pineland on Pine Island. Along the way, participants will get an up close look at historic fish houses of Pine Island Sound and discuss commercial fishing and the fishing cultures from the indigenous Calusa, to Spanish Cuban Ranchos, to the Punta Gorda Fish Company and to the spectacular Tarpon and sport fishing of today. Guests will be greeted at The Tarpon Lodge and passengers will be oriented to this spectacular location, the family-run business and their tradition of fishing within Pine Island Sound and Charlotte Harbor.
Passengers then will relax amidst the old Florida charm of the 1926 Tarpon Lodge, where lunch will be served overlooking the waterfront. After lunch, participants will walk to The Randell Research Center (RRC), located across the street from The Tarpon Lodge. The RRC, a program of the Florida Museum of Natural History, aims to establish and maintain – at the internationally significant Pineland archeological and historical site – a permanent facility dedicated to learning and teaching the archeology, history and ecology of Southwest Florida.
An RRC educator will guide guests on The Calusa Heritage Trail to one of the pre-Columbian mounds of the ancient Calusa while elaborating on this unique fishing culture. Captiva Cruises has established Discover Southwest Florida History cruises to Cabbage Key, Useppa Island, Boca Grande and has recently added cruises to The Edison & Ford Winter Estates on the Caloosahatchee as well as this cruise to Pine Island.
For more information and reservations call 472-5300.
Earth Day At The Refuge Next Saturday
Trash-talking, plarn, and Bagzilla? These are just a few highlights of the adult and children’s activities at JN “Ding” Darling National Wildlife Refuge on Earth Day Saturday, April 21.The refuge will celebrate the 42nd anniversary of Earth Day in partnership with “Ding” Darling Wildlife Society- Friends of the Refuge (DDWS) and Tarpon Bay Explorers (TBE). “We are gearing our activities for all ages,” said Ranger Becky Wolff, refuge education specialist. “We’ll bring back our disposable bag-costumed Bagzilla character, and teach people how to make yarn out of plastic bags to weave into their own sturdy, reusable shopping bags.” The schedule for earth-friendly free fun is: Note: *Regular tram tour fees apply. 7 a.m. to 4 p.m. Wildlife Drive is open free to bikers and hikers 8 a.m. to 4 p.m. Free bike rentals from Tarpon Bay Explorers’ site (returns by 6 p.m.) 10 a.m. – The first 200 visitors to the refuge will receive a free reusable shopping bag, courtesy of DDWS. 10 a.m. to 3 p.m. Ongoing Earth crafts in the Education Center Education Lab
• Make your own Mother Earth ornament • Create a pop-bottle butterfly or jellyfish
• Learn from a pollinator and mind your own beeswax (candle that is) • Create your own bracelet out of plarn (plastic bag yarn)
• Meet and greet refuge educator Bagzilla, costumed in a year’s worth of an average person’s disposable bag consumption 10 to 11 a.m. Guided native plant walk along Indigo Trail *10 to 11:30 a.m. Narrated refuge tram tour 11:30 a.m. to noon. Let’s Talk Trash – Marine timeline competition for kids. How long does it take that trash to biodegrade in a marine environment? (Education Center auditorium) *11:30 a.m. to 1 p.m. Narrated refuge tram tour Lunch on your own *1 to 2:30 p.m. Narrated refuge tram tour 1:30 to 2 p.m. Climate Change 101 – Learn the basics of climate change and what you can do to help. (Education Center auditorium) 2:30 to 3 p.m. Make your own plarn. Plastic bag overload? Learn how to make plarn (plastic bag yarn) and weave reusable shopping bags that are 10 times stronger than other plastic bags. (Education Center auditorium) *2:30 a.m. to 4 p.m. Narrated refuge tram tour *4 to 5:30 p.m. Narrated refuge tram tour For more information on Earth Day at the Refuge, call 472-1100 or visit www. dingdarlingsociety.org.
Contestants Lining Up For Oyster Eating Contest
The Bailey-Matthews Shell Museum will hold its 3rd annual Oyster Eating Contest at The Timbers Restaurant and Fish Market on Saturday, April 21 from 11 a.m. to 2 p.m.Admission is free. Twenty-five contestants, sponsored by island businesses, will compete to consume as many mollusks as they can in one minute and help raise funds for the museum. Lamar Williams won last year’s contest by downing 48 mollusks, and he plans to fend off the competition again to retain his title.
Clay Miller of NBC-2 returns as master of ceremonies. Participants may enter the contest with a minimum $250 sponsorship. All proceeds will benefit the shell museum exhibits and educational programs. There are many ways to win in this year’s competition. Categories include: Grand Champion, 2nd Place and 3rd Place, Female Champion, Best Oyster Attire, Most Clams (Money) Collected (more than $1,000), and Most Team Spirit. Team spirit has always played an important part in the contest. The oysters eaters seem to slurp even faster when they have a lively rooting section. In the past, supporters have waved signs, sounded noisemakers, whistled and cheered their oyster eater on to victory. They have also supported the museum by purchasing food and drinks donated by The Timbers. This year, a woman’s watch provided by Lily & Co. will be raffled, and there will be crafts and face painting for the kids. Raffle tickets for the watch may be purchased in advance at the museum, Bailey’s General Store (Richard Johnson), Bank of the Islands (Rob Lisenbee), Sanibel-Captiva Trust Company (James Young), and The Timber’s Restaurant (Mark Blust). You need not be present to win. All are welcome to join in the fun and cheer on their favorite contestant, sample some Timbers seafood and help support The Bailey-Matthews Shell Museum.
If you are interested in being a contestant and/or a sponsor, contact John Suau at 395-2233 or at jsuau@shellmuseum. org.
Saturday, April 14, 2012
Florida, A Top Market for International Buyers!
LAKELAND,Fla. – April 2, 2012 – Bargain prices in American real estate lure foreignbuyers, and Florida continues to be the most popular destination, though otherstates are attracting more foreign interest as well.
More than half ofinternational sales in 2011 – 58 percent – came from four states alone: Florida(31 percent), California (12 percent), Texas (9 percent), and Arizona (6percent), according to National Association of Realtors® data.
Inman Newsrecently identified the individual markets where foreign buyers make up thebiggest share of homebuyers.
The 10markets, ranked by highest share of foreign buyers, according to public recordsdata, are:
1. Lakeland-Winter Haven, Fla.
2. Cape Coral-Fort Myers, Fla.
3. Orlando-Kissimmee-Sanford, Fla.
4. North Point-Bradenton-Sarasota, Fla.
5. Miami-Fort Lauderdale-Pompano Beach, Fla.
6. Phoenix-Mesa-Glendale, Ariz.
7. New York County, N.Y. (Manhattan)
8. Honolulu, Hawaii.
9. Tampa-St. Petersburg-Clearwater, Fla.
10. Las Vegas-Paradise, Nev.
. Source:“10 Hot Spots for Global Homebuyers,” Inman News (March 2012) © Copyright 2012INFORMATION, INC. Bethesda, MD
The 10markets, ranked by highest share of foreign buyers, according to public recordsdata, are:
1. Lakeland-Winter Haven, Fla.
2. Cape Coral-Fort Myers, Fla.
3. Orlando-Kissimmee-Sanford, Fla.
4. North Point-Bradenton-Sarasota, Fla.
5. Miami-Fort Lauderdale-Pompano Beach, Fla.
6. Phoenix-Mesa-Glendale, Ariz.
7. New York County, N.Y. (Manhattan)
8. Honolulu, Hawaii.
9. Tampa-St. Petersburg-Clearwater, Fla.
10. Las Vegas-Paradise, Nev.
. Source:“10 Hot Spots for Global Homebuyers,” Inman News (March 2012) © Copyright 2012INFORMATION, INC. Bethesda, MD
Will Housing Prices Soar By 2012?
NEWYORK – April 4, 2012 – Real estate economists and analysts are increasinglyoptimistic that the housing market will have a dramatic recovery in the nexttwo years, according to results of a new semi-annual survey of 38 real estateeconomists and analysts conducted by the Urban Land Institute’s Center forCapital Markets and Real Estate.
The economists predict that the nationalaverage for home prices will stop falling by this year and a subsequentturnaround will occur. By next year, they project that home prices will beginto rise by 2 percent, and then get a larger boost of 3.5 percent by 2014. Theeconomists also predict that housing starts will nearly double by next year.
Theyalso foresee rental prices continuing to increase for all property types,ranging from 0.8 percent to 5 percent.
The economists’ predictions were madeon assumptions that the economy would continue to strengthen, including alarger drop in unemployment.
“While geopolitical and global economic eventscould change the forecast going forward, what we see in this survey isconfidence that the U.S. real estate economy has weathered the brunt of therecent financial storm and is poised for significant improvement over the nextthree years,” says Patrick L. Phillips, ULI chief executive officer. “Theseresults hold much promise for the real estate industry.”
Source: “Real EstateWill Rock in 2014,” RISMedia (March 31, 2012)
Florida Business Had Best January Ever !
Fla. businesses had best Jan. ever
TALLAHASSEE,Fla. – April 10, 2012 – According to the Florida Department of Revenue, statesales in January broke records for the month, jumping 12.5 percent, and matchedan increase not seen since August 2006. Florida businesses reported $71.6billion in January sales, with the strongest increases seen by professionalservice firms, electronics for consumers and wholesalers. However, not allareas fared equally as the recovery takes hold at different speeds. In Sarasotaand Manatee counties, for example, business sales rose 2.8 percent – down from9 percent in the fourth quarter of 2011. Other counties – Pinellas, Lee,Collier and Monroe – improved by double digits. Other growth industriesinclude the hotel sector (8.7 percent), retailers (6 percent), auto sales (5percent) and manufacturing (2 percent). Source: Sarasota Herald Tribune, April9, 2012, Doug Sword © 2012 Florida Realtors®
CoreLogic,HCI highlightsFebruary 2012
•Including distressed sales, the five states with the highest home priceappreciation were: West Virginia (+8.6 percent), Michigan (+5.8 percent), Florida (+4.7 percent), Arizona (+4.5percent) and South Dakota (+4.1 percent).
TALLAHASSEE,Fla. – April 10, 2012 – According to the Florida Department of Revenue, statesales in January broke records for the month, jumping 12.5 percent, and matchedan increase not seen since August 2006. Florida businesses reported $71.6billion in January sales, with the strongest increases seen by professionalservice firms, electronics for consumers and wholesalers. However, not allareas fared equally as the recovery takes hold at different speeds. In Sarasotaand Manatee counties, for example, business sales rose 2.8 percent – down from9 percent in the fourth quarter of 2011. Other counties – Pinellas, Lee,Collier and Monroe – improved by double digits. Other growth industriesinclude the hotel sector (8.7 percent), retailers (6 percent), auto sales (5percent) and manufacturing (2 percent). Source: Sarasota Herald Tribune, April9, 2012, Doug Sword © 2012 Florida Realtors®
CoreLogic,HCI highlightsFebruary 2012
•Including distressed sales, the five states with the highest home priceappreciation were: West Virginia (+8.6 percent), Michigan (+5.8 percent), Florida (+4.7 percent), Arizona (+4.5percent) and South Dakota (+4.1 percent).
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