Estero FL Condo Market

The Estero Florida condo real estate market is showing positive signs of improvement.  The positive signs are coming from less new listings coming on the market from March 2006 – 35 fewer units. 

Estero Florida condos - March activity

The pending sales for 2007 were very slightly under 2006 by only one unit.

Closed sales of the Estero condos showed the same exact number of units at 12.

Expired listings – units that failed to sell during the listing contract – significantly increased by 26 units, which was almost double the number in March 2006.

The Estero condo real estate market still remains a buyers market – but the available inventory is being reduced – although not thru actual sales.  Sellers still need to be aggressive when pricing their properties for sale.

Bonita Springs FL Condo Market

The Bonita Springs condo real estate market continues to be weak, but better for sellers than it was in 2006.

Bonita Springs Condo Activity

The number of new listings of Bonita Springs condos for sale coming on the market in March 2007 was 74 units less than the previous year.  Pending sales compared to last year was down by 11 units.  Closed sales for Bonita Springs condos were up by 13 units.  The number of expired listings – condominiums that failed to sell during the listing contract was up by 58 units from March 2006.

Overall the Bonita Springs condo real estate market remains a strong buyers market, however, the actual inventory of available condominiums is slowly being reduced.  The condo market for buyers is weaker than 2006.

Naples FL Condo Market

The graph below shows the how the Naples FL condo real estate market performed during the month of March 2007.
Naples Florida Condos March Activity

Based upon the activity in March, the Naples condo real estate market is getting stronger.  This based upon 50% less condominium units coming on the market in March 2007 versus March 2006.

Pending sales also saw a slight increase in the number of condos which pended sale versus last year.

Expired listings – those that failed to sell with the listing contract period – also increased from the previous year.

The three aforementioned factors caused the inventory of available Naples condos for sale to drop, which favors sellers – but the condo market remains largely a buyers market still.

Florida Real Estate News – 04/26/07

PROPERTY TAXES
As House and Senate property tax negotiators continued to parley on how much should be cut, Gov. Charlie Crist proposed a plan Wednesday that would basically split the difference. However, Crist’s plan doesn’t include any sort of proposal to increase sales taxes in exchange for reducing and potentially eliminating property taxes.

SUBPRIME MORTGAGES
The help promised by several lenders and financing groups for some homeowners with subprime mortgages could come too late for many to save their houses; others may not qualify for the loan bailouts.

Florida Real Estate News – 04/25/07

PROPERTY TAXES
Senate negotiators don’t want to trade homeowner property tax relief for higher sales taxes. Instead, they offered a revised plan to roll back and cap property taxes, which could take effect without going on the ballot.

Property taxes will keep rising across the nation even as house prices are falling in many parts of the country, according to a USA TODAY analysis of government data. A key reason is that despite the downturn, the market value of millions of homes still exceeds the assessed value used for tax purposes.

CONSUMER CONFIDENCE IN FLORIDA 
Pessimism about the housing downturn and rising gas prices balanced by optimism about a strong stock market caused consumer confidence in Florida to remain steady in April at 86 after falling six points in March, according to a University of Florida study.

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