Lee County Commissioner, Enlightens and Communicates Tourism Efforts & Clean Beaches!

While the chances of some oil making it to the east coast remain high, their misfortune is Southwest Florida's gain! Some media outlets and reporters are whispering what experts and locals have been telling everyone for months... there's a "Less than 1% Chance of oil making it onto Southwest Florida beaches". Unfortunately, the local media has echoed similar sentiments on some broadcasts in recent weeks but without much impact on the National and International (tourists) viewers that some local business and hotel owners are trying to reach. They wish the National News would inform everyone that "Southwest Florida is Open for Business!" and the oil is only in the panhandle of Florida.

On Thursday July 8th, I had the privilege, along with a few of my colleagues to listen to a short presentation by Tammy Hall, the chairman of the Lee County Commission. Following our discussion she did a Q & A with about 12 of us. Tammy Hall was recently awarded the title of "Estero Chamber Political Person of the Year" for 2010. The information she shared about what the commission is working on varied from cutting spending to balance the county budget, thereby eliminating any property tax increases for the average property owner to instituting change to the states renewable energy credits to benefit companies like Algenol Biofuels who generates renewable energy from Algae. Commissioner Hall also touched on how state mandate prevented the use of tourism reserves for anything other than the new stadium for the Boston Red Sox spring training, a concert hall or similar type venue. She also spoke on tax benefits to lure businesses and diversify the job base in Fort Myers, Bonita Springs & Estero area as well as the print and TV advertising the tourism bureau recently embarked on as a response to the oil spill to let people know there was no oil on ANY Southwest Florida beaches. Her depth of knowledge and the things she is involved in are fascinating and I found it incredibly enlightening.


One of the most interesting comments made by Commissioner Hall in response to the misinformation out there and some jittery tourists was that "A new national conversation is beginning to circle that there is Less than 1% chance of oil coming onto the beaches of SWFL. This was some very welcome news to everyone in the room who has been repeatedly asked for weeks, if not months about the oil on our beaches, and repeatedly responding "There is no oil". One of my clever colleagues has been responding with, "The only oil on Southwest Florida beaches is Suntan Oil".

You can read my recent post on the Gulf oil spill and see video on How Southwest Florida will likely stay Oil Free HERE

See a profile of some New Construction Developments & Homes in the Naples Area HERE

For more information, connect with me:

Please Feel Free to Call, Email or Connect with Garren for additional market information.

Pelican Landing - Courtyard Pool Home in Bonita Springs, FL

Rarely Available! - 3 Bedrm w/ Pvt. Cabana - Living Area 2586 sf


Pinewater Cove at Pelican Landing in Bonita Springs, FL from BuyUpNaples.com.

Tropical paradise surrounds this courtyard pool home. Spacious 3 Bed / 2.5bath open floorplan offering split bedrooms and a private cabana. Gorgeous great room fireplace anchors the main living area and provides a cozy gathering place to relax after a round of golf or a day at the beach club.

Other exceptional features includes crown molding, Corian countertops,
dimmable lighting, open glass shelving, surround sound and much more.

Beach club, sailing center, canoe park, tennis center & fitness center available to all residents!

* Click here to view additional photos & info *

Contact Garren Grup of John R. Wood, Inc., Realtors at
(239) 289-8619 or email BuyUpNaples.com

The Bet That Blew Up Wall Street!... from 60 Minutes

New-age Bucketshops... the Financial Weapons of Mass destruction!

I have to say 60 minutes got it right AGAIN on Sunday night.

A few weeks ago I published a video-blog on "Wall Street's Shadow Market" about the bundling and selling of mortgages and the so-called insurance that was used to assure investors they were safe.

This last Sunday they did a follow-up story titled "The Bet that Blew Up Wall Street". Many of my real estate colleagues, fellow bloggers and customers appreciated the explanations provided. This new peice was on what can best be described as the "side bets" about whether a companies stock price will go up or down, also known as a credit derivative or credit default swap because these bets could be made without actually owning the stock, similar to betting on a football game.

The housing boom and economic downturn that followed has been blamed on just about everyone, from the consumers to those in the real estate and mortgage industries. The shift seems to know be shifting to Congress, Wall Street, the SEC and even former President Bill Clinton for his downsizing of government and goal of expanding home-ownership.

Their is no reason whay a national foreclosure rate of 6% is having such a devastating effect on the economy when 94% of homeowners are making their monthly mortgage payments. The downfall of these large financial institutions was because they made so many side bets they didn't keep track of or save the money for that they had to pay out on the insurance policy (side bets) that had been made on everything from stocks, to mortgage defaults, to the decline of Wall Streets solvency. Just Today CNBC reiterated that out of 80 million mortgages less than 6 million were behind or not paying their mortgage. I know the numbers don't add up but NOT everyone has a mortgage!

So, where did all the money go? ...It was paid out to the super-rich that had made some of these bets and exacerbated the downturn while destroying some of the largest institutions on Wall Street and triggered payoffs that made these bettors "fantastically richer" at the expense of these institutions, their shareholders, and nearly everyone whether they were invested in Wall Street or not. The video below is the single best explanations of where all the money went and why we should have known better. These explanations serve to inform us about what has going on below the surface of Wall Street and the Federal Government and why more government oversight is needed. These side bets effected everything from shareholders to employees of every company that has been adversely affected by the slowing economy, job lay-offs. Yet the speculation continues and is likely the cause of the ballooning and plummeting gas prices. Just today Volkswagen increased by more than $100 per share, up 86% in a single day while at the same time the DOW finished up almost 900 point which was the largest one-day gain in history!
The video below & article on CBS.com is aptly titled The Bet that Blew Up Wall Street:

See my previous video blog Wall Street's Shadow Market

You can also see my other blog for additional articles Here

Garren Grup, REALTOR®, GRI...

Noteworthy Results in Naples, Bonita Springs, Estero & Fort Myers!

Properties are selling in Southwest Florida... video from NBC (below)

Sales are up 80% in Lee County, Bonita Springs Estero, Fort Myers, Fort Myers Beach, Sanibel Island & Captiva Island!



*Use the links below to view listings in a specific city or create your own search Here.*

Garren Grup, REALTOR®, GRI...

Noteworty Results in Naples, Bonita Springs, Estero & Fort Myers!

Wall Street Shadow Market!!!!!!!!!!!!!!!!!!!!!!!!!

Which financial market is largely unknown, not regulated, 5 to 6 times the size of the $10 Trillion US deficit and can’t be estimated within $10 trillion dollars?

 

See the Wall Street answer you may have missed at http://naplesbeachfronthomes.activerain.com/post/727338/A-MUST-SEE-for-Everyone-in-Real-Estate-that-missed-the-6-Minutes-program-on-Sunday-

 

 

Warm regards,

Garren Grup, REALTOR, GRI

GRI: Graduate Realtor Institute

www.BuyUpNaples.com for the most up-to-date list of Homes available in Southwest Florida. **Listings are updated every 4 hours on this website!

 

John R. Wood REALTORS
Mobile: (239) 289-8619
Toll Free: (800) WOOD-180

 

 

www.BuyUpNaples.com or www.SellBonitaSprings.com or www.NaplesFLonline.com

 

Are Buyers missing the Best Values by focusing on foreclosures?

I have to wonder if many of our buyers are missing the best values by focusing on short sales and foreclosures. Everyone wants a deal and many want to offer .30 to .50 cents on the dollar based on the estimated appraisal. In our market this reflects somewhere between 15% to 40% of what the previous owner paid in 2004-2005. We have defined this period in our area as the "irrational period" when people bought anything they could get under contract. I have to ask myself if finding the best value may actually mean ignoring the foreclosures and searching for owners that have owned for a longer period of time(8-10 years) and just need to sell, based on the statistice below?

Our company President, Phil Wood did a radio interview on August 26^th, 2008 and updated us on what the market stats show for year-to-date 2008 in regards to foreclosures since that is a hot topic in the media right now. Below is the summary in the Naples/Bonita/Estero area:

• Thru July of this year, there have been 3,754 closings in SunshineMLS, in the specified areas. (a few more than our previous stats since some closings have now been added to the system.


• Only 163 of these were foreclosures, which is a very small number as compared to what media reports would lead one to believe. (4.3%)


• 45% of the foreclosures were in Golden Gate City and Golden Gate Estates, so there are only 90 closed foreclosure sales in ALL other areas.


• 84% of the 163 foreclosures sold at $300,000 or less, so it is primarily confined to the lower price ranges.

Obviously, there are parts of Lee County where the problem is much more severe, specifically Lehigh Acres and Cape Coral. These two areas have thousands of lots and/or homes, have traditionally been very reasonably priced, and many owners have now lost their jobs. There were also many investors that bought in those neighborhoods during the irrational period of 2004-2005, and have now simply walked away from their investment.

So overall, it is not a big issue in the Naples, Bonita Springs & Estero area.

The areas in Golden Gate mentioned above are primarily single family homes and more year round, full time, working residents as opposed to the gorgeous beach and golf course properties that most envision when they think of Naples................................................................................. In addition, many of our young first-time home buyers want to be closer in than this, where their jobs are, they can socialize with friends and hopefully capitalize on the great values that they hope will appreciate because of their appeal to both full time and seasonal residents when they are ready to move up.

Great values previal but are the foreclosures really where they are?

Garren Grup, REALTOR®...

Noteworty Results in Naples, Bonita Springs & Estero!

**Note: There are a few additional foreclosures in the area that may not go thru MLS. Additionally, there are tons of potential shorts sales that may also be potential foreclosures, although many banks are now standing on their heads to try and avoid taking back properties.

Election 2008... A New Canidate being discussed for President!

My Grass Roots effort to bring real estate and the other major issues to light has catapulted a new candidate into the media's eye (and I don't mean Palin). This is a real canidate that will be the agent of Fix, not just the agent of Change!

Channel 3 News Reporting on:

Tropical Fay Went Away... Thankfully not a Hurricane!

Tuesday, August 19, 2008, 12 noon EST - Tropical storm Fay never reached hurricane strength, and is now past Collier County, currently in the Lee and Hendry County areas. In general, the storm was not a major event.

Damage is very light in most areas----tree limbs and a very occasional downed tree. Structural damage to buildings was very light in most of the Naples/Bonita/Ft. Myers area, although we did hear of some problems toward the central part of the state, around Clewiston.

Winds were lighter than predicted, usually in the 20mph to 40mph range, with some gusts as high as 70mph near Immokalee. Storm surge was lighter than predicted, and even rain was lighter than predicted, although we will likely continue to have rain for the rest of today. Flooding was also lighter than expected. Most businesses in the area were closed today, but some grocery stores, pharmacies, and even Burger King and Dunkin Doughnuts remained open.

The biggest problem is loss of power for a number of homes, with the last report saying 28,000 homes in Collier County. Power is expected to be restored much faster this time as compared to Wilma in Collier County, and Charlie in Lee County from years past. So in summary, there was very minor damage, despite the efforts of some media to over dramatize the storm. Things are expected to be back to normal by the end of the week.


Despite reports to the contrary Fay has been a bleesing and there was very minimal damage and no tornados in the Collier or Lee county area. Tropical Storm Fay actually has and will have an added benefit of bringing some much needed rain to all of the southeast. Florida and Georgia have been battling Alabama to release water from a reervoir that supplies drinking water to 3 million people. The 4-10 inches will substantially help refill reservoirs and raise lake levels on Lake Okeechobee and surrounding lakes as well as help curb the 2 year drought that has been the 2 driest back to back years on record. Lake Okeechobee as of a month ago was a little more than 4ft below it's average level.

Lake Okeechobee, which is second largest freshwater lake in the contiguous United States and is also the liquid heart of the Everglades. South Florida depends on the 730-square-mile lake during dry periods, when it can be used as a reservoir.

See more on Fay's drought relief at Southwest Florida News


Garren Grup, REALTOR ®...

Noteworty Results in Naples, Bonita Springs & Estero!

YTD Market Report - 1st Half 2008

June Market Report for NA (Naples) - BN (Bonita Springs) - ES (Estero)










Closed Sales:
• YTD closed units up 6% from 2007. Volume down approximately 14%.
• Closings for the month of June are essentially same as June 2007 (546 this year vs 550 in June 2007).
• Median sales price down almost 16% compared to YTD June 2007. Average sales price down approximately 19%.
• Closed units under $500,000 represent 70% of all closings YTD. For the same period 2007, this segment represented 61% of closings.
• Closed sales over $1 million represent approximately 13% of the YTD June market. For the same period 2007, this category comprised 17% of all closed sales. (526 properties in 2007 vs 412 in 2008).

Pended Sales:
• June pended sales units are up 46% over June 2007. (Naples up almost 50% and Bonita / Estero up 34%)
• YTD pended sales exceed 2007 by 10%.
• Pended sales over $2 million are down 32% from 2007.
• Pended sales under $500,000 up 36%.

Listings: • Number of new listings taken in June approximately same as June 2007 (1,976 vs 1,974)
• New listings taken YTD June down approximately 5% compared to same period 2007.
• Active listings on July 1, 2008 for combined NA-BN-ES areas is 13,551 (7,055 single family and 6,496 condos).
This represents a 4% decline from May."

*"This report represents the combined Naples, Bonita Springs, Estero market. Numbers may vary among various GEO codes so be sure to research individual market segments carefully.

Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted."

View the Full Market Report by Clicking Here

Garren Grup, REALTOR
Delivering Notworthy Results in Naples!