Naples Real Estate

ToastyinNaples Realty Thank You to All Healthcare Workers

Christine — Mon, 13 Apr 2020 16:22:16 +0000

I hope you don’t mind me invading your email for a few minutes and, hopefully, giving you a break in another monotonous day. Except, of course, if you are one of the many essential frontline workers during this awful period in our generation. If you are on the frontline, please know that I am thinking of you here in Naples Florida and wishing you and your families the very best wishes while you fight to save the lives of citizens across the country.

Naples Florida is doing alright so far or, the new word my sister and I have coined for this time, okish. When people ask how we are we say okish, because we are not sick thank goodness, but we are missing the details and fun of our daily lives and making do as best we can. You are welcome to adopt our word if you think it would help you answer the how are you question! The most sensible thing I have seen so far in Collier County is Publix has designated all their aisles as one way. It doesn’t stop everyone from going the wrong way but does help to keep the six-foot distance from most people. I think they should have adopted this right at the beginning of the pandemic. Unfortunately, we still have a lot of people not obeying the physical distancing rules which make buying groceries like a dodgeball event as I try to maneuver my cart and keep six feet away from all the people coming at me!
Many customers have asked me how I see the future for Southwest Florida and I think, like most of you, I am just waiting to see when, and if, life gets back to normal. We will always have the sunshine and the beaches and they will still be here when you are able to visit again. And I will still be here to help you when we see the end of this terrible virus. Life may not look the same in the future but we can all adapt and make the new look as good or better than the old one.

Please stay safe in your homes and areas of the country you live. One day this will be over and we can meet again under much-improved circumstances. I am thinking of all of you, hope you are safe and staying sane through this isolation.

Christine Lovett

Logan Boulevard extension opens between Bonita Beach Road and Immokalee Road

Christine — Fri, 28 Feb 2020 20:47:20 +0000

More ways for traffic to flow through our area is definitely a benefit. It seems to take them so long to finish a road once they start the project and the traffic jams from the construction seems to make things worse rather than helping! Everyone knows that season in our town is a traffic filled stop and go on most of our roads. However, with the completion of this new road let’s hope that traffic might ease a bit at least in that local area. Please Collier County build us more roads quickly!

Courtesy of Naples Daily News February 2020

Thaddeus Mast, NaplesPublished 2:28 p.m. ET Feb. 26, 2020 | Updated 2:28 p.m. ET Feb. 26, 2020

Mayor Peter Simmons cuts ribbon to open Logan Boulevard for public use on Monday, Feb. 24, 2020. Naples

A long-awaited roadway connecting Collier County and Bonita Springs opened after a ribbon-cutting ceremony Monday.

Logan Boulevard, a major north-south connection in Collier County now reaches Bonita Beach Road. The extension from Immokalee Road is the first road east of Interstate 75 to reach across the city borders.

There are few roadways connecting the city to Collier County — U.S. 41, Old 41 Road, Livingston Road/Imperial Parkway and I-75. The new extension is most important to people living east of the interstate and its busy exchanges.

Kevin and Karen Cawley live in Valencia Bonita, a community on Bonita Beach Road just east of the new roundabout. The couple biked to the ceremony and said they are excited to use the new road.

Karen Cawley “goes down to Immokalee, Walmart, Sprouts, so we’ll be using this,” Kevin Cawley said. “Boy, does it take a lot out of you to go all the way down (I-75) and back.”

The two said they are just as excited about the new sidewalks and bike paths.

“I’m going to bike down today,” he said. “We’re all going to do it for the first time. It’s gorgeous.”

The 2.5-mile roadway cost Bonita Springs nearly $3 million. The road is meant for localized traffic — residents who live east of I-75, said Don Scott, executive director of the Lee County Metropolitan Planning Organization.

“If you live in Collier and other northern neighborhoods, it doesn’t make sense to drive nine miles past (I-75) and back when you can drive three miles instead,” he said.

The MPO’s 2040 plan expects for 10,000 to 12,000 vehicle trips per day, Scott said. To compare, U.S. 41 currently has about 55,000 trips a day.

There are no plans to extend Logan Boulevard farther north toward Corkscrew Road in Estero, but the MPO is reworking its long-term plan which could include a change, Scott said. Currently, improving I-75 is cheaper than extending the Logan Boulevard.

“We looked at it back in the mid-2000s, and it would have cost about $1 billion to build,” Scott said.

The road was a collaborative effort involving Bonita Springs, Lee and Collier counties and nearby communities. Village Walk donated land so the road could have a median and better landscaping.

“In the end, we realized this donation would improve the area,” said Jim Kauffman, former chairman board of supervisors Village Walk of Bonita Springs.

The extension in Collier County doesn’t have the luxury of extra space, said Trinity Scott, Collier County transportation planning manager.

“Our right-of-way is much more constrained,” she said. “The right-of-way provided by the adjacent development allowed for the additional landscaping.”

The road was first envisioned in 1985, Scott said. Parklands, a large community now called Riverstone and StoneCreek, was applying for its development order. Collier County required the plans include another access point to the north.

At the time, Bonita Beach Road was little more than a gravel or dirt road surrounded by fields, she said.

“It’s changed over the years, but we finally finished it,” she said.

Construction in Bonita Springs began in January 2019. The Collier County portion has been finished for a year-and-a-half.

How Pricing Your Home Right Makes a Big Difference

Christine — Wed, 26 Feb 2020 15:17:07 +0000

I came across this article this week and found it very timely. I have been showing a lot of property for sale lately and, in the southwest Florida market, we have a many homes that have been on the market for a long time, some up to and more than a year. But, I have noticed that the new properties that are listed at the correct price are often under contract within a couple of weeks. What this shows me, and the article below proves, is that if the property is correctly priced when listed it will sell quickly. The properties that have been on the market for a long time are now reducing their price toward today’s market but many of them started out much higher. It is true that buyers are very concerned when the property they are viewing as been on the market for a long time. The feeling is almost, no-one else liked this home in all this time, there must be something wrong with it. If you are interested in finding out how much your home is worth in this current market, please call or email me, I will be happy to visit with you and let you know a realistic price for your home. We can work together to find that perfect home!

Courtesy of Keeping Current Matters 2020

Even though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line

If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start.

The Many Benefits of Aging in a Community

Christine — Fri, 21 Feb 2020 15:18:22 +0000

I had this exact conversation with a buyer last week. They were very sure they wanted a 55+ community preferably in a manufactured home community. I talked to them about the pros and cons and asked why they were so determined. They pointed out that they don’t know anyone in the Naples area, as they are moving from up north, and 55+ communities will be likely to have more scheduled events where they can be social and meet people. We visited some of the manufactured home communities in the Naples area and I have to say I was very impressed with Marco Shores. It is located on Collier Boulevard south of US 41 so equi-distant to Marco and Naples beaches. The community is exceptionally well-kept and beautifully landscaped. There are many social events to participate in and very nice homes to purchase. They are still making their moving plans but this community is definitely top of their list. Give me a call if you are considering moving into an active adult community. We have some very nice communities to chose from in Naples.

Courtesy of Keeping Current Matters 2020

There’s comfort in being around people who share common interests, goals, and challenges. That comfort in a community doesn’t wane with age – it actually deepens. Whether it’s proudly talking about grandchildren or lamenting the fact that our eyes aren’t as good as they used to be, it helps to be around people who not only understand what we’re saying but actually feel the same joys and concerns as well.

That’s why many boomers are deciding to move into an active adult community. In the latest 55places National Housing Survey, they were described by one out of three seniors as an “outgoing, social community of likeminded people.”

Bill Ness, Chief Executive Officer and Founder of 55places.com, explains:

“Baby boomers are now reaching the age when moving to an active adult community is the ideal opportunity for them…Many boomers now want to downsize, experience a maintenance-free lifestyle, and pursue more social opportunities. It’s exciting that there are so many choices for baby boomers.”

There’s still a desire, however, among many seniors to “age-in-place.” According to the Senior Resource Guide, aging-in-place means:

“…that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.”

The challenge is, many seniors live in suburban or rural areas, and that often necessitates driving significant distances to see friends or attend other social engagements. A recent report from the Joint Center for Housing Studies of Harvard University (JCHS) titled Housing America’s Older Adults addressed this exact concern:

“The growing concentration of older households in outlying communities presents major challenges for residents and service providers alike. Single-family homes make up most of the housing stock in low-density areas, and residents typically need to be able to drive to do errands, see doctors, and socialize.”

The Kiplinger report also chimed in on this subject:

“While most seniors say they want to age in place, a much smaller percentage of them actually manage to accomplish it, studies show. Transportation is often a problem; when you can no longer drive, you can’t get to medical appointments or to other outings.”

Driving may not be a challenge right now, but think about what it may be like to drive 10, 20, or 30 years down the road.

There are also health challenges brought on by a possible lack of socialization when living at home versus a community of seniors. Sarah J. Stevenson is an author who writes about seniors. In a recent blog post for A Place for Mom, she explains:

“Social contacts tend to decrease as we age for reasons such as retirement, the death of friends and family, or lack of mobility.”

Thankfully, research from the same article suggests if you’re spending time with others in a community, thus reducing the impact of loneliness and isolation, there’s less of a risk of developing high blood pressure, obesity, heart disease, a weakened immune system, depression, anxiety, cognitive decline, Alzheimer’s disease, and early death.

Though the familiarity of our current home may bring a feeling of warmth, comfort, and convenience, it’s important to understand that staying there may mean missing out on crucial socialization opportunities. Living with adult children, joining a retirement community, or moving to an assisted living facility can help us continue to be with people we enjoy every day.

Bottom Line

“Aging-in-place” definitely has its advantages, but it could mean getting “stuck-in-place” too. There are many health benefits derived from socialization with a community of people that shares common interests. It’s important to take the need for human interaction into consideration when making a decision about where to spend the later years in life.

How the Housing Market Benefits with Uncertainty in the World

Christine — Wed, 19 Feb 2020 15:43:40 +0000

Are you feeling that the world is too uncertain to take your hard-earned money and invest in Real Estate? When we wonder about things we don’t understand, we tend to look to the experts and this article below has some great quotes from experts in the Real Estate and Financial world. They are saying now is the time to invest in Real Estate because investors tend to stick close to US investments when the world is uncertain. This means mortgage interest rates will continue to stay low which helps you afford a more expensive home. Our prices in the Naples area are still excellent which allows you to pick that home you have dreamed of. So stop worrying and call me so together we can find the home that is perfect for you and your family!

Courtesy of Keeping Current Matters 2020

It’s hard to listen to today’s news without hearing about the uncertainty surrounding global markets, the spread of the coronavirus, and tensions in the Middle East, just to name a few. These concerns have caused some to question their investment plans going forward. As an example, in Vanguard’s Global Outlook for 2020, the fund explains,

“Slowing global growth and elevated uncertainty create a fragile backdrop for markets in 2020 and beyond.”

Is there a silver lining to this cloud of doubt?

Some worry this could cause concern for the U.S. housing market. The uncertainty, however, may actually mean good news for real estate.

Mark Fleming, Chief Economist at First American, discussed the situation in a recent report,

“Global events and uncertainty…impact the U.S. economy, and more specifically, the U.S. housing market…U.S. bonds, backed by the full faith and credit of the U.S. government, are widely considered the safest investments in the world. When global investors sense increased uncertainty, there is a ‘flight to safety’ in U.S. Treasury bonds, which causes their price to go up, and their yield to go down.”

Last week, in a HousingWire article, Kathleen Howley reaffirmed Fleming’s point,

“The death toll from the coronavirus already has passed Severe Acute Respiratory Syndrome, or SARS, that bruised the world’s economy in 2003…That’s making investors around the world anxious, and when they get anxious, they tend to sell off stocks and seek the safe haven of U.S. bonds. An increase in competition for bonds means investors, including the people who buy mortgage-backed bonds, have to take lower yields. That translates into lower mortgage rates.”

The yield from treasury bonds is the rate investors receive when they purchase the bond. Historically, when the treasury rate moves up or down, the 30-year mortgage rate follows. Here’s a powerful graph showing the relationship between the two over the last 48 years:How might concerns about global challenges impact the housing market in 2020? Fleming explains,

“Even a small change in the 10-year Treasury due to increased uncertainty, let’s say a slight drop to 1.6 percent, would imply a 30-year, fixed mortgage rate as low as 3.3 percent. Assuming no change in household income, that would mean a house-buying power gain of $21,000, a five percent increase.”

Bottom Line

For a multitude of reasons, 2020 could be a challenging year. It seems, however, real estate will do just fine. As Fleming concluded in his report:

“Amid uncertainty, the house-buying power of U.S. consumers can benefit significantly.”

Taking the Fear Out of the Mortgage Process

Christine — Wed, 06 Nov 2019 16:08:10 +0000

The mortgage process is lengthy and time consuming but doesn’t have to be scary. Organization is the key and keeping on top of the documents you will need to send probably more than once! Pre-approval by a professional mortgage broker is also very important. When you have that pre-approval letter we will know how much you are able to afford and can look at homes in that price range. You will also need this letter when you place an offer to assure the seller that you have the money to qualify for the mortgage you are seeking. None of this needs to be scary though, contact me first and we will work together to find you the perfect mortgage company for your needs. And, then the fun starts, and we can find your home!

Courtesy of Keeping Current Matters 2019

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:

Find out your current credit history and credit score– Even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® for all closed loans in September was 737, according to Ellie Mae.
Start gathering all of your documentation– This includes income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
Talk to your lender about pre-approval– A pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

4 Reasons to Sell This Fall

Christine — Wed, 02 Oct 2019 14:13:47 +0000

Thinking of selling your home this fall or season? Sizing up or downsizing? Now may be the perfect time to put your home on the market. Buyers are starting to return to Southwest Florida after our very hot summer and we need more inventory. There is a lot of inventory still available in our area, but the buyers are wanting to visit a lot of homes before making their decision. Your home should be one of them! Remember you can’t sell if you are not on the market for the buyers to see. Let’s get started to prepare your home for the anxious buyers who will be visiting soon!

Courtesy of Keeping Current Matters 2019

Some Highlights:

Buyers are active in the market and often competing with one another for available listings.
Housing inventory is still under the 6-month supply found in a normal housing market.
Homes are still selling relatively quickly, averaging 31 days on the market.

What Buyers Need to Know About HOAs

Christine — Tue, 24 Sep 2019 14:07:25 +0000

HOA’s and Condo Associations can be very helpful and maintain the value of your property by taking care of the landscaping, common areas and keeping the repairs up to date. However, they can also have some very restrictive rules which you need to be awe of before you purchase your property. In Southwest Florida, after you have a signed contract, you are allowed 3 days to review the association documents and make sure that you can live with the restrictions and covenants. It is very important that you take this time for review so that you are not taken unaware when you move in and inadvertently break one of the rules. There are many communities in our area that have these associations. Let’s make sure that you are buying in one that doesn’t have outlandish rules you cannot live with. Call me with your questions about community associations!

Courtesy of Keeping Current Matters 2019

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you.

According to a recent article on realtor.com,

“In a nutshell, an HOA helps ensure that your community looks its best and functions smoothly…The number of Americans living in homes with HOAs is on the rise, growing from a mere 1% in 1970 to 25% today, according to the Foundation for Community Association Research.”

An HOA is governed by a board nominated by those living in the neighborhood. It is designed to make sure the residents have a support structure to maintain the value of the community while abiding by a set of guidelines called Common Restrictive Covenants (CC&R),

“Simply put, CC&Rs are just the rules you’ll have to follow if you live in that community. Unlike zoning regulations, which are government-imposed requirements on how land can be used, restrictive covenants are established by HOAs to maintain the attractiveness and value of the property.”

It’s important for homeowners to understand that each HOA is a little different, and they usually have monthly or quarterly fees required for homeowners. These fees can vary based on property size, number of residents, amenities, and more. There may be additional fees charged to homeowners if the reserve fund for the HOA cannot cover a major or unexpected cost, like severe storm damage.

The fees, however, also help maintain common areas such as swimming pools, tennis courts, elevators (for high-rise buildings), and regular wear and tear. Although they are an added cost to the homeowner, an HOA can be a major benefit when it comes to maintaining the value of your neighborhood and your property.

The same article continues to say,

“After your offer to buy a home is accepted, you are legally entitled to receive and review the community’s CC&Rs over a certain number of days (typically between three and 10)…If you spot anything in the restrictive covenants you absolutely can’t live with, you can bring it up with the HOA board or just back out of your contract completely (and keep your deposit).”

Most lenders will factor your HOA fees into your loan package, ensuring the amount of the loan is appropriate for what you can truly afford.

There are some great benefits to having an HOA oversee your neighborhood, and it’s important to understand what fees, structures, and regulations will come into play if there is an HOA where you’d like to live.

Bottom Line

When you’re looking at a potential property to buy, let’s get together so you have a professional who can help you understand the neighborhood’s HOA structure and fees. This way, you’ll feel confident and fully informed when buying a home.

Things to Avoid After Applying for a Mortgage

Christine — Wed, 18 Sep 2019 16:52:45 +0000

Very important information in today’s blog post. Once you have found your home and applied for the mortgage be very careful about anything you do with your credit or income. In other words, don’t do anything! So many buyers think that everything is ok once the mortgage has been applied for, but the mortgage company can recheck your credit and income right up to the closing. Don’t do anything that will change the numbers or make the mortgage company take another look. Need new furniture? WAIT until after you have closed the mortgage. Need a new car or is your lease up? WAIT until after the closing to change anything. And, if you want a new job, again WAIT until after your new home is closed or talk to your mortgage broker to see if such a move is possible. Great advice to keep in mind today.

Courtesy of Keeping Current Matters 2019

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.

Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not.

1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.

2. Don’t Deposit Cash into Your Bank Accounts. Lenders need to source your money, and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

3. Don’t Make Any Large Purchases Like a New Car or Furniture for Your New Home. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher debt to income ratios…higher ratios make for riskier loans…and sometimes qualified borrowers no longer qualify.

4. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you are obligated. As we mentioned, with that obligation comes higher ratios as well. Even if you swear you will not be the one making the payments, your lender will have to count the payments against you.

5. Don’t Change Bank Accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is consistency among your accounts. Before you even transfer any money, talk to your loan officer.

6. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

7. Don’t Close Any Credit Accounts. Many clients erroneously believe that having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants in your score.

Bottom Line

Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. They are there to guide you through the process.

What’s the Latest on Interest Rates?

Christine — Fri, 13 Sep 2019 19:09:03 +0000

Are you worried about interest rates and the direction they may head? According to the chief economist of Freddie Mac there is great news for homebuyers. He feels that the lower interest rates and high employment rate will continue and home sales will be brisk going into the fall months. Buyers market and low interest rates sounds like the “perfect storm” to me and this storm you should embrace rather than fear! I can help, give me a call and let’s get started.

Courtesy of Keeping Current Matters 2019

Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market.According to Freddie Mac’s Primary Mortgage Market Survey,

“the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.”

Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states,

“…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.”

As a potential buyer, the best thing you can do is work with a trusted advisor who can help you keep a close eye on how the market is changing. Relying on current expert advice is more important than ever when it comes to making a confident and informed decision for you and your family.

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home is on your short list of goals to achieve, let’s get together to determine your best move.