Monday, December 6, 2010
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
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
Tuesday, November 23, 2010
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
For more information about the new High School on Marco Island, call me at 239-404-7471
Tuesday, November 9, 2010
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.
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.
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.
Thursday, October 28, 2010
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
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
Friday, October 22, 2010
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/
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/
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