Sanibel May Market Summary
Single Family
Condos
How far Behind the Curve is the Federal Reserve?
How to protect your house from title fraud
Florida Lawmakers Pass Insurance, Condo Reforms
Why are Mortgage rates so high?
Florida Regulator: Insurers Can Offer Roof Deductibles
Expansion Plans for Fort Myers Airport
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
m: 617.834.8205
———-
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
———-
Licensed in Massachusetts
www.OliverReportsMA.com
St James City May Market Summary
Single Family
Condos
How far Behind the Curve is the Federal Reserve?
How to protect your house from title fraud
Florida Lawmakers Pass Insurance, Condo Reforms
Why are Mortgage rates so high?
Florida Regulator: Insurers Can Offer Roof Deductibles
Expansion Plans for Fort Myers Airport
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
m: 617.834.8205
———-
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
———-
Licensed in Massachusetts
www.OliverReportsMA.com
Fort Myers Beach May Market Summary
All numbers are 3-month rolling averages:
Single Family
Condos
How far Behind the Curve is the Federal Reserve?
How to protect your house from title fraud
Florida Lawmakers Pass Insurance, Condo Reforms
Why are Mortgage rates so high?
Florida Regulator: Insurers Can Offer Roof Deductibles
Expansion Plans for Fort Myers Airport
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
m: 617.834.8205
———-
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
———-
Licensed in Massachusetts
www.OliverReportsMA.com
Estero May Market Summary
Single Family
Condos
How far Behind the Curve is the Federal Reserve?
How to protect your house from title fraud
Florida Lawmakers Pass Insurance, Condo Reforms
Why are Mortgage rates so high?
Florida Regulator: Insurers Can Offer Roof Deductibles
Expansion Plans for Fort Myers Airport
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
m: 617.834.8205
———-
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
———-
Licensed in Massachusetts
www.OliverReportsMA.com
Myths About Today’s Housing Market
And for an up to the date market analysis please contact me. (more…)
The Federal Reserve and Mortgage Rates
As expected, the Federal Reserve (Fed) increased its Fed Funds Rate (FF) this week by 0.25% to 0.5%, the first increase since 2018.
What does this mean for mortgage rates and why are they rising? The FF rate affects the lending rate for credit cards, auto loans, adjustable rate mortgages, all of which are impacted by banks’ Prime Rate, which moves with the FF rate. Fixed Rate Mortgages – the typical 30-year mortgage – have a longer life and their benchmark is the closest Treasury security, which is the 10-year (10T).
Five charts explain the factors driving mortgage rates. In all cases the numbers are at the dates that the Fed has changed its FF since 2015: 9 increases followed by 5 decreases before this week’s rise. Because the purpose of this article is to show the link between FF, FRM and 10T the dates shown are only those on which the FF rate changed. Bear that in mind when looking at the charts below – they do not attempt to show all the price movements in between the dates shown. (more…)
Naples YTD: sales plummet, prices soar
The combination of undiminished demand and greatly diminished inventory have had the inevitable consequence in the first two months of 2022: prices have soared 25-50% from a year ago, while sales have dropped by similar percentages ( read Naples Beach prices drop 47%? Not so fast.
Here are the numbers broken down by property type and location within Naples: (more…)
Naples Beach prices drop 47%? Not so fast
In today’s Naples YTD: sales plummet, prices soar the median price of Single Family Homes sold in Naples Beach (see map below) in the first two months of 2022 as $926,000, down from $1.76 million in 2021, as sales dropped from 185 to 102.
The reason for this anomaly is that a very high share of 2022 sales occurred in the $500-$1 million price range, as shown in this chart: (more…)
Andrew Oliver joins the Feins Group at Compass
I am excited to announce that I have joined the Feins Group, one of the premier groups operating in Naples as these numbers show:
I bought my house through Jon Feins and would be delighted to help you buy yours.
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
————–
www.TheFeinsGroup.com
www.OliverreportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
Survey: Sellers Waiting Out Pandemic Are Ready to List
Homeowners have had all the usual reasons to sell over the past two years – marriages, deaths, children, etc. – but many hunkered down during the pandemic, and some feared the housing market because selling might be easy but finding a new home? Not so much.
A survey conducted by HarrisX for realtor.com, however, suggests that many of those people might be planning to list their home in 2022, with 65% of them planning to do so this winter and spring. The survey of 2,583 consumers was conducted online in September-October 2021.
Many sellers, however, want to set an asking price higher than they think their home is worth, and they expect buyer bidding wars.
When will sellers list? (more…)
$10 million plus sales more than double in 2021
High-end home buyers were a tour de force in 2021, and Los Angeles was their shopping destination of choice, according to an inaugural ultra-luxury-focused report from Compass released Wednesday.
Across the U.S. last year, more than 2,300 residential properties priced at $10 million or more changed hands across the 30 major markets the brokerage profiled—more than twice as many deals as in 2020.
Los Angeles took the lion’s share of those trophy-home sales, with 27.3%—or 628—of all $10 million-plus sales occurring in La La Land. Next in line was Manhattan, with 326 transactions, followed by Palm Beach, Florida, with 203.
Across all 30 markets analyzed, more than $40 billion was spent on residential real estate at or above $10 million, the report said, a 138% surge from 2020. (Mansion Global)
Read these recent reports:
Earth to Federal Reserve: What are you waiting for?
Guide to Buying and Selling in Southwest Florida
Naples Year End Market Report by Location and Property Type
Can the Federal Reserve prevent a Recession?
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
Naples Beach 2021 Market Report
Naples Beach covers the area mostly to the East of 41 from Port Royal to Pelican Bay and includes the most expensive real estate in the Naples area in zip codes 34102, 34103 and 34108 (see may below). The market saw significant increases in median prices in 2021. The absence of high end buyers was the reason for the drop in SFH median prices is the second half of the year, with the low inventory causing a sharp drop in sales in Q4. When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years
Guide to Buying and Selling in Southwest Florida
Naples Year End Market Report by Location and Property Type
Can the Federal Reserve prevent a Recession?
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
North Naples 2021 Market Report
North Naples includes the area from Pine Ridge Road to the Lee County boundary just short of Bonita Beach Road and zip codes 34109, 34110 and 34119 (see map below).
The shortage of inventory caused a sharp drop in sales in the second half of the year and, coupled with strong demand, contributed to a jump in the median price per sq.ft.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)