Lee Counties unemployment numbers that were just released shows 9.5%……..down from the prior month of 9.8%. That number in itself does not show any significant change, however the real number to look at is the one from the same time period last year…….. it was 11.5%.
Collier Counties new unemployment number is 9.6%, down from the prior month of 9.7%. Their number a year ago was 11.6%.
Charlotte Counties just released number is 9.3% and remained steady from the prior month. Their number a year ago was 11.2%.
In Lee county, the job’s improvement came from the private sector with additions of around 800 new job’s in private education, retail, and the health services segment. Also the return of some 2400 public school employees made an impact. Also to note, as we enter the winter snow bird season, is the Port Authority and Airport Terminal Services which already employs 110 gate and ramp agents, hired 42 new part-time positions just this week. No doubt the expected return of our winter population had a key factor in those hirings. …continue →
[Just released excerpts from the National Association of Realtors]
Lawrence Yun, Chief Economist for NAR says there would be enormous benefits to the U.S. economy…….if mortgage lending conditions returned to a more favorable posture with consumers.
“Sensible lending standards would permit 500,000 – 700,000 additional sales in the upcoming 2013 year” Yun said. The economic activity created through these additional home sales, could add 250,000 to 350,000 jobs in related trades and services almost immediately, and with minimal cost impact.”
Most Realtors, and some high quality lenders like the one shown to the right, have widespread concern over unreasonably tight credit conditions for residential mortgages. Realtors also are concerned that they may be wasting their time showing homes to a buyer needing financing, who ultimately wont be able to get a mortgage on the home they want to purchase. As gas is back in the almost $4,00 range again, some Realtors are choosing to work with cash buyers only! Other Realtors who list property “For Sale” are advising their sellers to place greater weight on cash offers……….even if they are less than an offer with a finance contingency. …continue →
Existing home sales jumped 7.8% in the U.S. in August for over 4.8 million dollars in value!!
That data is the very best we have seen in the market since May of 2010……..when sales were fueled largely by Federal Home buying Tax credit. At the same time, this new report indicated that the housing market was 9.4% better than the same month in 2011. That is a significant increase in just 1 year.
These figures were just released by the government 2 days ago, and certainly shows that the housing market is leading the way toward economic recovery in this country.
Here is an interesting statistic contained in the report……..Foreclosures accounted for only 12% of the August sales and Short Sales only accounted for only 10% of the sales. This is a leading indicator, that the huge supposedly “Ghost” inventory of foreclosure inventory soon to bombard the market……..really does not exist. It has long been my opinion that lenders and banks are holding onto assets and plan to rent them out thru local property management companies, to obtain and maintain an income stream. With an increase in home sale prices we have witnessed during the first half of this year, equity positions for homeowners has begun to creep back into the mix. …continue →
There is a way to slow or even stop the lenders foreclosure on the loan on your home. But before I show you the method, I want you to have a good idea of the steps in the foreclosure process.
A foreclosure case is a judicial proceeding that allows the lender to get legal title [deed] and possession of your property. Once obtained, the lender will re-sell to try and recoup as much of its money as possible. Unlike some states, Florida requires all foreclosures to go thru the courts and adhere to set guidelines. As of May 2012 the turn around time from the first missed mortgage payment to the bank is taking 24-30 month’s. …continue →
[Excerpts from the "Cape Update" publication from September 2012]
Here are the recent comments about Cape Coral:
1]National Association of Builders: At the beginning of 2012, they rated Cape Coral with the title of “Most Improved Florida Housing Market.”
2]Forbes Magazine: Just a few month’s ago ranked Cape Coral in the “Top 200 Best Places for friendly Business climate.”
3]Money Magazine: At the end of 2011, this organization ranked Cape Coral as one of the “25 Best Places to Retire.” They placed the Cape ahead of great cities like Ft. Lauderdale and south Miami. …continue →