Below is the sales stats for the month of May for all of Marco Island. The real estate market has shown some improvements over the 1st quarter of the year.
2016 vs 2015
Active Listings :
Single Family 338 288
Lots 346 313
Condo 347 280
Pending Sales:
Single Family 56 58
Lots 12 19
Condo 64 56
Closed Sales:
Single Family 43 42
Lots 3 16
Condo 57 56
Average Sales Price:
Single Family $966,535 $740,369
Lots $241,977 $490,531
Condo $494,503 $606,888
For more information on real estate in Marco Island, please give me a call at 239-404-7471, send me an email, or visit my website at WWW.RealEstateonMarco.com.
Wednesday, June 15, 2016
Friday, June 10, 2016
GREAT NEWS! Mortgage Rates Drop Again
GREAT NEWS for home buyers!
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage slipped to 3.60 percent from 3.66 percent last week. That is well below its level a year ago of 4.04 percent.
The average rate on 15-year fixed-rate mortgages declined to 2.87 percent from 2.92 percent.
Now is a great time to purchase a house. Give me a call at 239-404-7471 or visit my website.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage slipped to 3.60 percent from 3.66 percent last week. That is well below its level a year ago of 4.04 percent.
The average rate on 15-year fixed-rate mortgages declined to 2.87 percent from 2.92 percent.
Now is a great time to purchase a house. Give me a call at 239-404-7471 or visit my website.
Thursday, June 2, 2016
NEW FLOOD INSURANCE REQUIREMENTS
Effective January 2016, the Biggert Waters Reform Act requires properties with flood insurance to escrow if there is a mortgage lien. This is required for all new purchases or refinances, fixed mortgages, ARMS, or equity lines of credit in first position. If the property is a condo, typically the condo association carries the required flood insurance so the property owners do not need to do so.
Effective April 2016, Insurance companies are now required to obtain an elevation certificate to write the flood policy. In the past, an elevation certificate was not always required to bind the policy.
If you have any questions on how this affects your personal situation, please give me a call at 239-404-741 or visit my website for my contact information.
Effective April 2016, Insurance companies are now required to obtain an elevation certificate to write the flood policy. In the past, an elevation certificate was not always required to bind the policy.
If you have any questions on how this affects your personal situation, please give me a call at 239-404-741 or visit my website for my contact information.
Wednesday, June 1, 2016
CAPITAL GAINS WHEN SELLING A HOME
Long term capital gains are taxed at different rated depending on taxpayer's income:
0% for taxpayers who are in the 10%-15% tax bracket.
15% for taxpayers in the 25%-35% tax bracket.
20% for taxpayers in the 39.6%.
Beginning in 2013, capital gains income is subject to an additional 3.8% Medicare tax for single filers making more than $200,000, or married couples filing jointly who make more than $250,000.
Keep in mind that the sale of a personal residence is excluded from capital gains up to a $500,000 gain for a married couple.
Speak with your tax accountant for specific details regarding capital gains.
Visit my website at www.RealEstateonMarco.com for information on homes for sale on Marco Island.
0% for taxpayers who are in the 10%-15% tax bracket.
15% for taxpayers in the 25%-35% tax bracket.
20% for taxpayers in the 39.6%.
Beginning in 2013, capital gains income is subject to an additional 3.8% Medicare tax for single filers making more than $200,000, or married couples filing jointly who make more than $250,000.
Keep in mind that the sale of a personal residence is excluded from capital gains up to a $500,000 gain for a married couple.
Speak with your tax accountant for specific details regarding capital gains.
Visit my website at www.RealEstateonMarco.com for information on homes for sale on Marco Island.
FHA 203(k) Loan
Did you know that an FHA (k) loan is designed to help individuals who want to purchase, repair, and live in the home. This loan lets the buyer include the money needed for the purchase as well as money needed for renovations and repairs.
Do you think this loan would be fit your needs? Contact me at 239-404-7471 for more details.
Do you think this loan would be fit your needs? Contact me at 239-404-7471 for more details.
DO YOU QUALIFY FOR SPECIAL FINANCING?
The FHA 203B program allows first time buyers to get a fixed rate mortgage with a down payment as low as 3.5%. In addition, 100 percent of the closing costs can be a gift from a relative.
For more information financing your new home, give me a call at 239-404-7471. Visit my website at www.RealEstateonMarco.com.
For more information financing your new home, give me a call at 239-404-7471. Visit my website at www.RealEstateonMarco.com.
Friday, May 27, 2016
Current Home Interest Rates
Mortgage rates
Rates as of 05/27/16 State: | Conforming | Rate | Points | APR |
|---|---|---|---|
| 30 Year fixed | 3.625% | 0.567 | 3.755% |
| 15 Year fixed | 2.875% | 0.189 | 3.045% |
| Jumbo | |||
| 30 Year fixed | 3.625% | 0.235 | 3.677% |
| 15 Year fixed | 3.375% | 0.218 | 3.464% |
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