Pending sales and median prices show signs of real estate stability, the recently released NABOR (Naples Area Board of Realtors) report states. Pending sales increased to 775 contracts from 760 contracts recorded a year ago, while the median price for properties over $300,000 increased to $550,000 from $540,000 a year ago. “The fact that we [...]
According to Fitch’s latest rating, Naples got an upgrade to AAA, an outlook stable regarding its PST revenue bonds. In order to affirm this Fitch Ratings has taken the following rating actions: $8.2 million public service tax (PST) revenue bonds upgraded to ‘AAA’ from ‘AA+’; implied general obligation (GO) affirmed at ‘AAA’. This upgrade from [...]
Most of Florida’s housing markets, especially Collier County with its attractive beach lines in Naples; Bonita Springs etc. are dependent on an economy based on Tourism. There is a positive and negative report on Tourism activities in Collier County for September – negative with declined visitation by tourists and positive with visitor spending rising slightly [...]
One of the most important impacts of the mortgage crisis is depletion in property values and property tax revenues. From the real estate perspective when more properties swamp the housing market, automatically the competition lowers the list price of properties for sale and overall reduces the market value of properties. Marco Island in the Collier [...]
The year 2009 is one of peoples’ suffering from many woes – unemployment; credit-crunch; foreclosures; drop in market value of homes etc. and would be indelible in their memory for long. This is revealed by the U.S. Bureau of Economic Analysis, which has just released its statistics for 2009 overall in the country. According to [...]
County budgets are relying upon mostly local tax collections, especially property tax. The present market conditions prevailing have impacted heavily on dropping down values of housing properties everywhere, including Collier County and Marco Island city. Budget proposals are based on tax revenues and if there is lesser collection, it reflects in staff cut mostly as [...]
Florida State permits only judicial foreclosures through the County Courts. Therefore by taking the count of Lis Pendens – the legal notice sent by the Court to the delinquent borrower to inform that a foreclosure case is pending – one can grossly arrive at the figure of foreclosures for the month. It is reported that [...]
The US Senate on Thursday crushed hopes of getting extension of unemployment benefits for jobless residents of Southwest Florida, including Collier and Lee Counties. Naplesnews.com reports many heart-rending real life stories from the affected persons. Some excerpts from the news coverage: Over 17,000 residents of Lee and Collier Counties, who are jobless and collecting emergency [...]
