Marco Island park trail is under way

It is being called the Linear Park trail, a project that is taking place along the City's easement property that runs between San Marco Road to Andalusia Terrace.  It will start at the Raquet Center and connect with Mackle Park and eventually end at Winterberry.

Marco Island Real Estate November Sales Statistics

November sales statistics for Marco Island listed below:



                  Year                  2010           2009



NEW LISTINGS:

Single Family                          61               62

Condominiums                        95               98
Lots                                       19               19


ACTIVE LISTINGS:

Single Family                        463            509
Condominiums                     779           756
Lots                                     330           346


PENDING SALES:

Single Family                        15            15
Condominiums                     21            26
Lots                                     7               3


SOLD:

Single Family                        18           27
Condominiums                     18            21
Lots                                     5               4


AVERAGE SALE PRICE:

Single Family               $518,922      $744,817

Condominiums             $451,033      $345,700
Lots                             $221,000      $290,625


   For more information regarding real estate information on Marco Island, visit my website at http://www.realestateonmarco.com/ or call 239-404-7471

Marco Island Charter academy has been approved

The Marco Island Academy has been approved by the Collier Coundy School Board and is scheduled to open in August 2011.

 For more information about the new High School on Marco Island, call me at 239-404-7471

Foreclosure Information

I received this from Ron Webster who is an attorney on our island  and is very knowledeable in the Real Estate Industry and I thought I would pass int on.

Foreclosed Purchases…There is no free Lunch!

I am certain most everyone is familiar with the age old adage “if it sounds too good to be true…” yet buyers purchasing foreclosures are falling for this trick every day.

Just because the lender/seller is offering to provide a free title policy does not mean the buyer is protected! Many times there is a reason for it. Would you put the fox in charge of the hen house? Yet every day countless buyers are getting slaughtered with excessive closing fees, useless title policies and many times deeds signed where there is a complete lack of visible authority of the individual signing.

If you are buying, be sure of what you are getting. If the bank did not have the authority to foreclose, they clearly do not have the authority to convey clear title. According to Bloomberg Financial News, Fidelity National Title shares dropped 10 percent last month and First American dropped 5 percent as direct result of increased title claims. In fact American Land Title Association reports there has been a 14 percent increase in the title claims this past year alone.

The only way to truly protect a buyer and assure them they will receive a clear title is to have an independent title search and review of the foreclosure file. The potential for mistakes are plentiful ranging from improper service upon the previous mortgage holder, invalid or improper mortgage assignments, errors in legal descriptions just to name a few.

Insurable title does not necessarily mean marketable title and all Bank/Seller Addendums simply mandate the bank is only responsible to deliver insurable title. Insurable title may come with a host of defects. However, despite these defects, a title insurance underwriter weighs the risks involved and allows the title agent to issue a title policy even though there may be blemishes and potential problems down the road. Ironically, should the value of the property increase dramatically, the buyer is only protected to the extent of the original purchase price.

In a time when foreclosures are looked upon with great scrutiny from the concern of the wide use of MERS(Mortgage Electronic Registration System) and whether they actually own the mortgage and have the ability to enforce it to the issue of robo signers involving temporary help signing off on foreclosure affidavits to title policies from an unknown underwriter filled with exclusions of coverage, it would be insane not to have an independent examination before closing.


Whatever the search and review fees a buyer may encounter would be less than the title insurance they typically would be buying in a third party transaction. A few dollars spent now may save your buyer thousands of dollars in headaches. Protect your buyer, protect yourself and don’t let your buyers kid themselves into thinking because the Bank/Seller is providing a free title policy to accept it. There are no free lunches and it may be time to look at other choices on the menu.

Marco Island Real Estate October Sales Statistics

October sales statistics for Marco Island listed below:

                     Year                     2010                    2009

NEW LISTINGS:
  Single Family                            80                          85
  Condominiums                         109                        63
  Lots                                         17                          34

ACTIVE LISTINGS:
   Single Family                          439                        496
   Condominiums                       756                        731
   Lots                                       334                        346

PENDING SALES:
   Single Family                          20                          25
   Condominiums                       19                          14
   Lots                                        3                            3

SOLD:
   Single Family                          25                          28
   Condominiums                       16                          20
   Lots                                       6                            8

AVERAGE SALE PRICE:
   Single Family                        $554,084                $564,141
   Condominiums                     $534,888                $511,935
   Lots                                     $230,333               $281,339


For more information regarding real estate on Marco Island, please call me at 239-404-7471.

Marco Island Real Estate September Sales Statistics

SEPTEMBER SALES STATISTICS FOR MARCO ISLAND BELOW:

                        YEAR          2010                      2009

NEW LISTINGS:
   Single Family Homes            44                         44    
   Condominiums                     60                         53
   Lots                                     24                         21

ACTIVE LISTINGS:
   Single Family Homes           451                      484
   Condominiums                    740                      728
   Lots                                    326                      335

PENDING SALES:
   Single Family Homes           24                        15
   Condominiums                    6                          18
   Lots                                    6                          5

SOLD PROPERTIES:
   Single Family Homes           30                       19
   Condominiums                    15                       16
   Lots                                    4                         5

AVERAGE SALE PRICE:
   Single Family Homes           $629,967            $480,795
   Condominiums                    $273,867            $369,375
   Lots                                    $421,250            $346,000            


For more information regarding Marco Island real estate please contact me at 239-404-7471

Sea life in the Gulf of Mexico appears healthy after the oil spill

Associated Press by Brian Skoloff 10/22/10:

ON THE FLOOR OF THE GULF OF MEXICO – Just 20 miles north of where BP's blown-out well spewed millions of gallons of oil into the sea, life appears bountiful despite initial fears that crude could have wiped out many of these delicate deepwater habitats.


Scientists are currently in the early stages of studying what effects, if any, BP PLC's April 20 oil well blowout off Louisiana and the ensuing crude gusher has had on the delicate deep sea coral habitats of the northern Gulf.

 Research from a Greenpeace ship in the Gulf, using a two-man sub as they work to determine if the corals have suffered damage, or may take a hit from long-term impacts, such as stunted reproduction rates.

"We thought certainly that ... we would see signs of damage," Ross said. "And we're very pleased to say so far, that in these locations, we haven't seen a large scale damage to the coral habitats. We're still looking, but so far, it's good."

For information about real estate in Marco Island and Naples contact me at 239-404-7471 or visit my website at http://www.realestateonmarco.com/

Marco Island Real Estate August Sales Statistics

AUGUST SALES STATISTICS FOR MARCO ISLAND BELOW:

                        YEAR              2010                       2009

NEW LISTINGS:                    

Single Family Homes                   49                          42
Lots                                            19                          11
Condominium                              32                          58

PENDING SALES:            
Single Family Homes                   14                          15
Lots                                              3                           3
Condominium                              10                          13

CLOSED SALES:
Single Family Homes                   21                          22
Lots                                            5                             6
Condominium                             12                           18

AVERAGE SALE PRICE:
Single Family Homes                $530,035              $786,477
Lots                                         $179,800              $186,000
Condominium                           $512,188             $308,278

For more information on Real Estate on Marco Island, please give me a call at 239-404-7471 or visit my website at http://www.realestateonmarco.com/

July sales statistics for Marco Island Real Estate

July Sales Statistics:

                  Year               2010           2009

ACTIVE LISTINGS:
   Single Family                    462             516
   Lots                                 318             338
   Condominium                    743             741


PENDING SALES:
   Single Family                    19                14
   Lots                                 5                  6
   Condominiums                  9                 17

CLOSED SALES:
   Single Family                    18                 19
   Lots                                  6                   6
   Condominiums                  15                 28

AVERAGE SALES PRICE:
   Single Family                   $439,622          $821,162
   Lots                                $240,583          $478,333
   Condominiums                 $289,540          $532,746

For additional information on Real Estate in the Marco Island and Naples area please contact me at 239-404-7471 or visit my website at http://www.realestateonmarco.com/

Marco Island June Sales Statistics

Real Estate sales statistics for Marco Island below:

                          Year     2010        2009

NEW LISTINGS:
  Single Family               65               66
  Lots                            26               24
  Condominiums            71               61


PENDING SALES:
  Single Family              23               17
  Lots                           5                  5
  Condominiums           7                  17


CLOSED SALES:
  Single Family             28                 32
  Lots                          7                    6
  Condominiums          34                  40


AVERAGE SALES PRICE:
  Single Family           $696,089        $768,583
  Lots                        $165,429        $607,800
  Condominiums        $395,099        $522,363

For more information on Real Estate on Marco Island, please give me a call at 239-404-7471 or visit my website at http://www.realestateonmarco.com/



 

Marco Island May Sales Statistics

May Sales Statics for Marco Island Below:

                               Year         2010             2009
NEW LISTINGS:
Single Family                            59                40
Lots                                         26                22
Condominiums                         77               115


PENDING SALES:
Single Family                           18               27
Lots                                         4                 4
Condominiums                        15               25

CLOSED SALES:
Single Family                          31               41
Lots                                        5                 6
Condominiums                       42               39

AVERAGE SALE PRICE:
Single Family                    $685,339      $751,984
Lots                                 $325,800      $205,333
Condominiums                 $370,796       $533,205

For more information on Real Estate on Marco Island, give me a call at 239-404-7471 or visit my website at http://www.realestateonmarco.com/.

Gulf Oil Spill

The oil spill has kept vacationers away in the Florida panhandle area. The beaches in Marco Island and Naples have not been affected and they actually reported (according to news reports) a 1% chance that our beaches would be affected.

For more information on the oil spill visit www.BP.com or call 1-800-440-0858

Rookery Bay will host a Free Friday for Children

The Rookery Environmental Learing Center will host Free Friday for kids 12 and under. The day will include feeding the fish in the 2,300 gallon aquarium, learn how to identify fish and creat fish arts and crafts.

For more information call 239-417-6310 or visit www.rookerybay.org

Marco Island History Museum Opens

The new Marco Island Museum is now officially open. It is located at 180 S. Heathwood Drive and the hours of operation are as follows:

Monday, Tuesday, and Thursday 3-9pm
Wednesday 3-5pm
Friday and Saturday 10:00am - 2:00pm

Beaches of Marco Island

Tigertail Beach on Marco Island is a wildlife lover's paradise. Over the years Tigertail Beach has become a very important area for migrating and nesting birds. We have several endangered species of birds that use Tigertail Beach as their nesting area. The beach consists of a lagoon with an outside barrier strip of sand with wild seaoats, grasses and small trees. On the exterior of this sand barrier lies the Gulf with waves and white powder sand.

Enjoy a walk at Tigertail Beach and listen to the birds sing as you go.

For more information on Marco Island visit my website at www.RealEstateonMarco.com

Oil Spill in the Gulf of Mexico unlikely to affect Marco Island

I have received many questions regarding the status of Marco Island in relation to the oil spill in the Gulf.

According to the US Coast Gard Unified Command and local emergency management officials that are monitoring the spill, Marco Island is unlikely to be severely affected by the BP oil spill.

The island is rated "as a low threat for near and future oil impact" by state and federal personnel.

Possible Housing Shortage???

ORLANDO, Fla. – June 16, 2010 – Some experts are saying that the next big real estate problem could be a shortage of homes.

Only 672,000 new homes were started in April. That's less than half the number needed to meet the country's average population growth.

In the past, an average of more than 1.3 million households have been built each year, creating demand for 1.5 million new homes. In 2009, only 398,000 new households were formed, according to the Census Bureau.

"The decline in household formation is artificial," says James Gaines, a real estate economist with Texas A&M. "The young are moving in with their parents. There's even doubling up among working-class people. There's a pent-up demand coming if and when the economy recovers."

Some economists believe this analysis fails to take into account the changing economy or the large inventory of vacant properties. But Gaines and others say these factors are unlikely to significantly drive down demand.

Source: CNNMoney.com, Les Christie (06/15/2010)

© Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688

Florida Foreclosure court filings down in 1 Quarter

TALLAHASSEE, Fla. – June 16, 2010 – The number of foreclosure filings for the first quarter of the year is down significantly compared to the past two years.

According to the Office of State Courts Administrator, the number of foreclosure filings for January through April stand at 105,149. During that same period in 2009, there had been 143,936 filings and in 2008 there were 111,337.

Freddie Mac: Mortgage rates hit low for year

Mortgage Rate Trend Index

WASHINGTON – June 11, 2010 – Rates on 30-year fixed mortgages fell this week to the lowest level of the year and barely shy of the all-time low.

Mortgage finance company Freddie Mac says the average rate sank to 4.72 percent, down from 4.79 percent last week. It was just above the record of 4.71 set last December.

The average rate on a 15-year fixed-rate mortgage hit 4.17 percent, down from 4.2 percent last week and the lowest on records dating back to August 1991.

For information regarding real estate on Marco Island visit at www.RealEstateonMarco.com

Lawmakers Consider Home Tax Credit Extension

WASHINGTON – June 11, 2010 – Homebuyers may get an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.

Senate Majority Leader Harry Reid, D-Nev., said Thursday he wants to give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.

The proposal would only allow people who already have signed contracts to finish at the later date. The National Association of Realtors estimates that about 180,000 homebuyers who already signed purchase agreements are likely to miss the deadline.

Marco Island Academy Update

The Marco Island Academy has had an huge interest and would like to build the new school on the Tract K site. The Board of directors is no longer considering the YMCA for their location. The new high school anticipates about 200 students the first year.

For more information visit their website at www.marcoislandacademy.com.

Conservation Collier may rescue Tract K on Marco Island

An application to have the 11.6 acres known as Tract K was submitted to the Conservation Collier's Land Acquisition Advisory Committee.  It will be reviewed to determine if the property meets the programs goals and criteria for acceptance.  For more information refer to the Marco Island Sun Times.

April Home Sales Jump

The Commerce Department says sales of new single-family homes rose 14.8 percent to a seasonally adjusted annual rate of 504,000 units after buyers raced to secure an expiring tax credit. That follows a 29.8 percent rise in March that was the biggest increase in 47 years. The latest gain is well ahead of estimates.

Marco Island Youth Summer Programs

The city of Marco Parks and Recreation and the Greater Marco YMCA are both offering summer programs for children of all ages. 

The YMCA is offering a 10 week camp starting June 14 for ages 6-11 and is offering Martial Arts, theater camp, and guitar camp as some of their options.

The City of Marco Parks and Recreation starts June 11 for ages 6-11.  For ages 8-13 they are offering Junior chefs camp where the kids will be baking and creating pastries.

For more information call 239-642-0575.

Mortgage rates stay above 5%

McLEAN, Va. (AP) – April 30, 2010 – Average rates for 30-year fixed mortgages slipped this week, but stayed above 5 percent for the fifth straight week, Freddie Mac said Thursday.

The average rate for 30-year fixed-rate mortgages was 5.06 percent this week.

The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.

This week, the average rate on a 15-year fixed-rate mortgage was 4.39 percent, unchanged from last week.

Rates on five-year, adjustable-rate mortgages averaged 4 percent, down from 4.03 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.25 percent from 4.22 percent.

For more information on Real Estate on Marco Island visit by website at http://www.realestateonmarco.com/ .

Marco Island Real Estate Statistics for April 2010

Marco Island Real Estate Statistics for April for the complete Island.


Here is what is happening for the month of April compared to April of last year:


NEW LISTINGS:              APRIL 2010        APRIL 2009      % CHANGE

Single Family Homes            52                          56                -7.14 %
Lots                                       9                          20               -55.0 %
Condominium                      66                           77               -14.2 %


ACTIVE LISTINGS:         APRIL 2010       APRIL 2009      % CHANGE

Single Family Homes          465                      600              -22.5 %
Lots                                   327                      369              -11.3 %
Condominium                     731                      858               14.8 %


CLOSED SALES:             APRIL 2010         APRIL 2009   % CHANGE

Single Family Homes          37                            28                 32.1 %
Lots                                   11                             7                  57.1 %
Condominium                     47                           19               147.3 %


AVERAGE SALE             APRIL 2010        APRIL 2009       % CHANGE
PRICE:

Single Family Homes          $696,370             $581,545          19.7 %
Lots                                   $228,136             $302,643         -24.6 %
Condominium                     $515,376             $571,574        -9.83 %


Search all homes in Marco Island for a complete list of property  for sale on Marco Island.  Please call me at 239-404-7471 with any questions regarding real estate on Marco Island.

Tax Credit deadline

Time is running out for the tax credit.  The deadline to have a property under contract is April 30, 2010.  For more information contact me at 239-404-7471.

Marco Island Verdi's is under new ownership

My favorite restaurant, Verdi's, is under new ownership.  Chef Guy is going to continue on to oversee the menu and give advise. 

Real Estate Statistics for Marco Island -March 2010

The real estate market on Marco Island - statistics for the month of March


LISTINGS ON THE MARKET:

Single family homes on the market are up 4% from February 2010 and down 19% from March 2009.

Lots are up 2% from February 2010 and down 12% from March 2009.



PENDING SALES FOR MARCH 2010:

Single family homes under contract are down 45% from February 2010 and down 32% from March 2009.

Lots under contract are down 28% from February 2010 and up 25% from March 2009.



CLOSED SALES FOR MARCH 2010:

Single family closed sales are up 30% from February 2010 and up 11% from March 2009.

Lot closed sales are up .08% from February 2010 and down 14% from March 2009.

Search for homes in Marco Island

Banyan Court, Marco Island, Florida

Big water views from this 4 bedroom home located at the south end of the island with a short walk to the beach.

The home features vaulted ceilings, brick fireplace with windows extending to the ceiling.  Newer kitchen, outdoor jennair grill.

Great water views and an oversized pool with spa.  This home would make a wonderful rental opportunity because of its size and proximity to the beach.

$950,000

Click to search Marco Island homes for sale

Marco Island Real Estate Statistics March 2010

The newest real estate statistics for the month of March. 

LISTINGS ON THE MARKET:


Single family homes on the market are up 4% from February 2010 and down 19% from March 2009.

Lots are up 2% from February 2010 and down 12% from March 2009.


PENDING SALES FOR MARCH 2010:

Single family homes under contract are down 45% from February 2010 and down 32% from March 2009.

Lots under contract are down 28% from February 2010 and up 25% from March 2009.



CLOSED SALES FOR MARCH 2010:

Single family closed sales are up 30% from February 2010 and up 11% from March 2009.

Lot closed sales are up .08% from February 2010 and down 14% from March 2009.

Marco Island Real Estate Statistics

The real estate market on Marco Island has hit bottom and will probably stay on the bottom through 2010.  Some statistics that may be of interest:

                 Single Family Home Sales

                     Avg Price              # of Sales

2007            $994,155                  218
2008            $859,584                  263
2009            $712,001                  296


               Condominiums

                   Avg Price                 # of Sales

2007           $706,833                     271
2008           $698,588                     285
2009           $522,768                     295

As you can see, home prices are down but overall closed sales are consistantly increasing. The real estate market on Marco Island is alive and well!

                        

Investors entering back into real estate

Article in the Realtor news:

Investors are buying houses again


NEW YORK – March 22, 2010 – More home buyers are snapping up properties with cash, a trend driven in large part by investors returning to the market after four years of falling prices around the country.

The share of home sales involving all-cash transactions was 26 percent in January, up from 18 percent a year earlier, according to the National Association of Realtors. The figures come from a survey of members about their most recent transactions.

Many home buyers also are paying cash, but investors are largely using cash so they can avoid paying interest charges on loans and get a larger return on their investment.

NAR data also show a pickup in investment activity. Home purchases made by buyers identified as investors climbed to 17 percent in January, up from 15 percent in December and 12 percent in November.

“We bottomed out in 2008, and in late 2009, prices stabilized and investors have returned,” says Mark Fleming, chief economist at First American CoreLogic. “It’s a different type of investor going after foreclosed properties and expecting to hold on for longer time frames.”

Many investors say they’re financing their purchases with cash on hand, rather than borrowing. One investor  San Francisco bought three rental properties in November and February and now owns 21 in four states. The rent he collects gives him an 8.5 percent annual return on his investment. Some of his homes are worth about $165,000.

"I’m still looking,” the investor says. “You can’t build these houses for the prices they’re selling them. I’ve always seen that the real wealth was in real estate. People have been sitting on cash, and there’s no interest from the bank (to pay).”

All-cash purchases also reflect a growing number of investors buying higher-end properties without credit, says NAR spokesman Walter Molony. That’s a sign that some investors see real estate prices as having nowhere to go but up. All-cash offers give buyers a competitive edge on rival offers – even higher ones – that are dependent on financing. Cash deals can close faster and are less likely to fall through.

Some investors say the current real estate market is an ideal time to buy because homes are so low priced, they are bound to hold their value. That’s the philosophy of a Tinley Park, Ill. investor.   He is buying about 120 to 150 entry-level homes in the Chicago area this year and owns a total of about 300 properties. He says now is a good time to buy because properties going into foreclosure are no longer just one-bedroom, fixer-uppers but nicer, split-level brick homes with more bedrooms that will probably appreciate to a higher value.

For information on Marco Island real estate visit my website at http://www.realestateonmarco.com/

Warren Buffett sees housing market bouncing back in 2011

By Andrew Frye, Bloomberg News


Billionaire Warren Buffett said the U.S. will recover from the residential real estate slump by 2011 as demand for houses catches up with the supply that accumulated during the bubble.

"Within a year or so, residential housing problems should largely be behind us," Buffett wrote Saturday in his annual letter to the shareholders of his Berkshire Hathaway. "Prices will remain far below 'bubble' levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn't afford to buy an appropriate home a few years ago now find it well within their means."

Record foreclosures flooded a U.S. real estate market already glutted with unsold property, causing housing starts to fall.

"People thought it was good news a few years back when housing starts — the supply side of the picture — were running about 2 million annually," wrote Buffett, 79, chairman and CEO of Omaha-based Berkshire. "But household formations — the demand side — only amounted to about 1.2 million."

Buffett built Berkshire into a $198 billion company through takeovers and investments in companies he believes have lasting competitive advantages and superior management.

Buffett wrote that his company should have bought more corporate and municipal bonds last year because they were cheap compared with U.S. Treasuries. When it's raining gold, reach for a bucket, not a thimble, he said.

Buffett has used past letters to discuss plans for his successor, praise Berkshire managers and confess his failings. Last year he said the U.S. economy was in shambles after reckless lending.

Buffett agreed to his largest deal last year when he arranged the $27 billion takeover of railroad Burlington Northern Santa Fe. Berkshire completed the acquisition, which Buffett described as an all-in wager on the U.S. economy, on Feb. 12.

Shares of Berkshire traded at about $15 when Buffett took control in 1965. The class A stock closed yesterday at $119,800, its highest since October 2008. Buffett added class B shares in 1996, and agreed to split them this year to help pay Burlington Northern shareholders.

© 2010 Bloomberg L.P. All Rights Reserved

Foreclosure prevention

Wells Fargo agrees to modify second mortgages




SAN FRANCISCO – March 18, 2010 – Facing criticism over the slow progress of its foreclosure-prevention efforts, the Obama administration has struck deals with two giant banks that would extend mortgage relief to homeowners with second mortgages.

Wells Fargo & Co. said Wednesday that it has agreed to modify home-equity loans in cases where borrowers have already qualified for relief under the U.S. Treasury’s mortgage-modification program. Wells Fargo joined Charlotte, N.C.-based Bank of America, which made a similar announcement in January.

Together, the two banks account for 25 percent of the second-mortgage market in the United States, according to the U.S. Treasury.

Consumer advocates say a key weakness with the government’s $50 billion foreclosure-prevention program is that mortgage modifications leave second loans unchanged. Borrowers qualifying for lower mortgage payments risk default because of large payments on a home equity loan. Some homeowners owe more on a second mortgage than the first.

The U.S. Treasury, recognizing the second-mortgage problem, last summer began urging large banks to modify those loans, too.

Tax Credit Extended for Military Service Persons

Tax credit extended for active duty military




WASHINGTON – March 16, 2010 – U.S. servicemen out of the country for 90 days (since 2008) may have an extra year to get the tax credit, up to $8,000, for buying a home.



The active-duty rule is not new. It’s part of the current tax credit law, though its use is limited. The qualification must be for “official extended duty outside the United States for at least 90 days after 2008 and before May 1, 2010.”



Should that be the case, however, the homebuyer has an extra year to buy a home. He or she has until April 30, 2011, to secure a binding contract, and until June 30, 2011 to close on the home. Other conditions such as a maximum $8,000 for first-time buyers and $6,500 for move-up buyers still apply.



For advice in any specific case, consult a qualified tax advisor. The applicable IRS publication is posted online (PDF format) at: http://www.irs.gov/pub/irs-pdf/p3.pdf
 
For information on real estate on Marco Island, Florida visit http://www.realestateonmarco.com/

Mortgage rates

Mortgage rates remain below 5 percent


 Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.

The average rate on a 30-year fixed rate mortgage was 4.95 percent this week, down from 4.97 percent a week earlier, mortgage finance company Freddie Mac said.

This week, the average rate on a 15-year fixed-rate mortgage was 4.32 percent, down from 4.33 percent last week, according to Freddie Mac.

Rates on five-year, adjustable-rate mortgages averaged 4.05 percent, down from 4.11 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.22 percent from 4.27 percent.

For all you real estate needs visit http://www.realestateonmarco.com/ or call me at 239-404-7471

What is really happening in Marco Island Real Estate?

The real estate market on Marco Island had begun to stabalize and we are seeing some positive changes.  With that being said here are some statistics:

NEW LISTINGS ON THE MARKET FOR FEBRUARY 2010:

   Single family homes new on the market are down 7% from January 2010
   Condominiums new on the market are down 22% from January 2010

PENDING SALES FOR FEBRUARY 2010:

   Single family homes under contract are up 82% from January 2010 and up 27% from February 2009
   Condominiums under contract are down 8% from January 2010 and up 20% from February 2010.

CLOSED SALES FOR FEBRUARY 2010:

   Single family homes are down 8% from January 2010 and down 6% from February 2009
   Condominiums are up 10% from January 2010 and up 55% from February 2009

If our inventory levels continue to decline it will make a shift on the supply and demand on Marco Island.  The less supply we have the greater the demand.

Everglades Bicycle Ride

The Everglades Bicycle Ride will take place March 20, 2010 in Everglade City.  They have 8, 23, 50,62, or 82 mile rides.  Continental Breakfast, rest stops along route, and SAG vehicle support available.  Great family event for kids of all ages.

Sponsored by the Naples Pathways Coalition.  Proceeds benefit the River of Grass Greenway and Reach Out Everglades.

For more information contact:  Patty Huff at 239-695-2397 or evergladesrogg.org

Walk to the Beach

Walk to the beach from this beautiful home with 3 bedrooms and 2 baths.  Mature landscaping and tile roof located in the prestigious Copperfield area.

The home features a pool and built in spa, boat dock and lift with the boat included in the sale of the home.  Relax by the pool and watch the sunset over the water for another perfect day on Marco Island.

For more information on this home, please call Deanna at 239-404-7471 or visit my website at http://www.realestateonmarco.com/

Great home at a great price on Beautiful Marco Island!

$499,000

Real Estate Tax Credit

With the Tax Credit deadlines just around the corner, I wanted to go over the requirements.

What's the deadline?
   To Qualify, first-time and repeat buyers must have a binding written contract by April 30, 2010 and close by July 1, 2010.

How Much Money is available?
   The maximum allowable credit for first-time home buyers is $8,000.  The maximum for repeat buyers, also referred to in the legislation as "long-time residents," is $6,500.

What Properties are eligible?
   The Extended Home Buyer Tax Credit may be applied to primary residences, including single-family homes, condos, townhomes, and co-ops.

How do buyers get the benefit?
   Buyers can apply the credit to their 2009 tax return, filed on or before April 15, 2010; file an amended 2009 return; or apply the credit on their 2010 return, filed on or before April 15, 2011.

Who Qualifies?
   To quailfiy as a first-time home buyer, the purchaser or his or her spouse may not have owned a residence during the three years prior to the purchase.  To qualify as a repeat buyer, current home owners must have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Are there income limits?
   The new law raises the income limits for people who purchase homes after November 6, 2009.  The full credit will be available to taxpayers with modified adjusted gross incomes up to $125,000 or $225,000 for joint filers.  Those with MAGI between $125,000 and $145,000 - or $225,000 and $245,000 for joint filers-are eligible for a reduced credit.  Those with higher incomes do not qualify.

This information was obtained from www.realtor.org

2nd Annual Marco Island Seafood Festival

Marco Island will be holding a Seafood Festival March 20-21 at Vetrans Community Park.  There will be a wide range of seafood from fresh fish, stone crab claws, fish chowder and arts & crafts. 

There will also be a wide variety of live music.  Entertainment starts at 11am both days and ends at 6:45pm. 
There will be a bus route that will pick up people at Marco Island Healthcare Center and deliver them to the Festival. 

For more information visit http://www.marcoislandseafoodfestival.com/

Waterfront Dining on Marco Island and Goodland

Looking for that perfect place to eat and relax after a day walking the beach or boating?  Try one of these waterfront restaurants.

1.  Little Bar - Located on the water in the quaint fishing village of Goodland.  They serve great seafood and steak.  http://www.littlebarrestaurant.com/  contact number is 239-394-5663

2.  Snook Inn - On the river with both indoor and outdoor seating.  They have live entertainment and you can come by boat or car.  Their contact number is 239-394-3313

3.  Sunset Grille - Marco Island's only sports beach bar with indoor and outdoor seating overlooking the Gulf of Mexico.  They have burgers, wings, seafood, and pasta.  Located in the Apollo condominiums- a great place to rent a condo for a weekly vacation rental.  Contact number is 239-389-0509

4.  Marco Island Princess - Have lunch or dinner on a boat enjoying the Marco Island sights or the perfect sunset.  The Marco Island Princess accommodates 149 passengers.  It is located at Marco River Marina.  For reservations call 239-642-5415

Marco Island Dolphin Updates

Sea Excursions Dolphin Project is a company that takes you out in the Gulf of Mexico and Rookery Bay area in search of dolphins and shelling on deserted barrier islands.  During your 3 hour excursion you can be a part of the Dolphin Project and assist in photographing and collecting data on Marco Island's local dolphin.  The Dolphin Explorer is engaged in the only ongoing daily dolphin study in this area. 

On January 12 the team sigted a new calf, bringing the total for the birthing season to eight.  It was named Ging-Ging.

For more information on how you can be a part of this incredible opportunity, visit
http://www.dolphin-explorer.com/ or email fun@seaexcursions.com

Eco Events for Marco Island and Surrounding Areas

Friends of Fakahatchee will be holding a Safari Day February 27th 1-7 pm.  There will be swamp walks, birding walks, photo workshops, tram rides and a guest appearance by Clyde Butcher.  for more information call 239-695-1023 or visit Friends of Fakahatchee

Marco Island Scootertown Bicycle Rentals

Get down to Scootertown's new location at 1095 Bald Eagle Drive and rent a bike or scooter to explore Marco Island.  There is bike parking at the beach entrance by the Marriott.  They have all kinds of bike rentals from cruisers to road bikes to  kid's bikes and trailers.  Stop in and say Hello to Matt and Patrick or give them a call at 239-394-8400

Great Direct Access Home on Marco Island

Spectaular home never lived in with granite counters and solid wood cabinetry, tray ceilings, den plus a formal living room.  This 3 bedroom 3 bath home has an extended lanai across the back of the home with an outdoor shower, outdoor grilling area, pool and spa.  Direct access to the Gulf of Mexico by boat from your back yard.  2934 square feet under air with a 3 car garage.

Beautiful kitchen with stainless steel appliances, built in cook top, granite and large walk in pantry

Give me a call for more information on this great home at 239-404-7471

             or visit my website at

             http://www.realestateonmarco.com/   

Marco Island Charter High School

The Discovery center held a 5K/1 mile walk that raised nearly $5,000 on January 23, 2010 for the future high shool.  There are ongoing discussions for a location for the Marco Island Charter School.  Jean-Michel Cousteau in on the academy's board.

Marco Island Going Green

A Marco Island resident on San Marco Road has converted his old septic tanks to a cistern after hooking up to the public sewer system.    Rain gutters from the house are drained into the old septic tank and the water is pumped out to water the lawn using hydrostatic pressure.

It is calculated that this homeowner uses about 90 gallons of water per hour to water his lawn.  Just think of the impact Marco Island would have on the enviroment if everyone converted their septic tank into a cistern.

Visit Marcocisterns.com or call Shannon Cain at 229-2337 for more information

Marco Island Real Estate Statistics

A comparison for our real estate market on Marco Island for the 4th quarter of 2009 compared with the 4th quarter of 2008.

Total listings are down 11% from 2008

Properties under contract:
   Single Family Homes are up 119%
   Lots  are up 14%
   Condominiums are up 78%

Closed Sales:
   Single Family Homes are up 54%
   Lots are up 60%
   Condominiums are up 81%

Average Sale Price:
   Single Family Homes are up 17%
   Lots are down 28%
   Condominiums are down 18%

The real estate market on Marco Island is starting to turn.  As my Grandmother would say "the worm will turn" and the Marco Island worm is turning.

Please give me a call at 239-404-7471 or visit my website at http://www.realestateonmarco.com/

Marco Island Real Estate Update

Some Marco Island Real Estate Facts:

Marco Island Inventory is down nearly 50% from 2007, prices have stabilized and interest rates are at historical lows.

According to the Marco Island area MLS, homes under $500,000 represent 45% of closed sales and homes under $750,000 represent 75%  of closed sales.  Closed sales under $750,000 increased by 30% from 2008 and the number of closed sales above $750,000 were down 28% from 2008.

For information please go to my website at http://www.realestateonmarco.com/ or give me a
call at 239-404-7471

Marco Players Theater resume

Marco Players Theater resumes it season January 13, 2010.  Some of the shows that they will be performing this year are as follows:

Remember Me - Show dates January 13 - 31
On Golden Pond -  Show dates February 24 - March 14
The Fourth Wall - April 7 -25
 
Tickets can be purchased online at TheMarcoPlayers.com  or call 239-642-7270

Marco Island area conoe trips

Guided day and moonlight conoe trips are available at the Collier-Seminole Park.  The park naturalists help the visitors look for interesting plants and animals along down the Blackwater River.  Day trips are from 9:30-12:30 Monday - Wednesday at a cost of $25 per person. 

Moonlight trips are from 7:30 - 10:00 near a full moon and cost $30 per person.  For more information on Collier Seminole Park conoe and hiking trips, call 239-394-3397

Marco Island Library Expansion

The Marco Island Public Library is adding a 4,000 square-foot addition named Rose Hall for benefactor Bill Rose.   This new space will give the community a new meeting room and add to the Children's room.

The project is on schedule and will open in February.

The Marco Island Library is located at 210 South Heathwood Drive. Call 239-394-3272.  For more information visit collier-gov.net/library. 

Naples Zoo sponsors African tour

The Naples Zoo is sponsoring a 13 day tour of Africa.  The tour will inculde:

• Visit to the Ngorongoro Crater
• Hot-air baloon ride over the Masai Mara followed by breakfast in the bush
• Game view in Kenya and Tanzania

This 13 day tour starts September 5, 2010.  For more information, call 594-5006