Have you paid cash for your Naples real estate, you might want to consider the pro’s and con’s of an option to forego windstorm coverage? Are more homeowner insurance companies looking for more rate increases? Is the purchase of a foreclosure a double-edged sword – great buy, but value could be declining? Answers to these questions can be found in today’s Naples Florida real estate news.

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More news from a national perspective than about the Naples real estate market, but it can be positive in the long run for the local real estate market.

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The worst of the Florida real estate market slump behind us? Read what Hank Fishkind has to say about the real estate market in Florida.

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Safety for your Naples Florida home, state budget impacted by housing slump, still pre-approved for that loan program, and foreign investment in Florida, where and why – are the topics of today’s Naples FL Real Estate News.

FLORIDA LEGISLATURE – Legislative leaders Tuesday said they will call a special session in September to cut Florida’s new $71.5 billion budget because of declining tax collections. The drop coincides with a slump in the state’s cyclical housing market.

YOUR NAPLES HOME SAFETY – A carbon monoxide detector will be standard equipment in most new Florida homes. Gov. Charlie Crist last week signed SB 1822 in law, mandating the detectors in many new buildings, homes and hotel rooms located close to boilers.

A carbon monoxide detector in your existing Naples, Bonita Springs, or Estero residence would be an excellent idea, just for your safety.

MORTGAGES – In a harbinger of what may be ahead for other mortgage lenders, Countrywide Financial Corp. announced on Tuesday, July 24th that rising delinquencies and defaults among its most creditworthy borrowers have cut into its second-quarter profits. What does this mean? Would-be homeowners may find it more difficult to navigate the mortgage market as loan production falls and lenders become more competitive.

If you are considering purchasing Naples FL real estate, you should also check with your loan officer or mortgage broker to determine if you are still approved under the loan program, the loan officer or mortgage broker had you pre-approved under.

INTERNATIONAL INVESTORS – Foreign investors poured more than $120 million into Central Florida real estate from January through June of this year, making it the largest market for foreign investment in Florida and the 19th-largest in the U.S., according to a recent report.

Two of the reasons that foreign real estate investors have poured money into the Central Florida, rather than the Naples real estate, Bonita Springs real estate, and Estero real estate markets, is Central Florida is a vacation destination (Walt Disney World and Universal Studios) as well as more abundant flights into the Orlando area.

Thinking about finding a bargain priced castle in Latin America rather in Naples FL? You might want to consider my thoughts. Homeowners insurance continues to draw attention and questions. Are you planning on riding out the next hurricane – you might not be alone, but is it wise?

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