Naples is No. 2 home buyer bargain market, Web site reports

By Contributed by HGTV’s FrontDoor.com

Originally published 03:04 p.m., April 9, 2009
Updated 03:42 p.m., April 9, 2009

KNOXVILLE, Tenn.- Home prices have fallen more than 6 percent in the past year, according to the Federal Housing Finance Agency, which tracks 292 U.S. metropolitan areas. That means bargains can be found just about everywhere.

Naples ranked No. 2 overall. Known for its artsy side and the natural wonder of the nearby Everglades, Naples was a vacation destination overrun with real estate investors during boom time. Prices plummeted nearly 33 percent over the past year, offering new buying opportunities for people looking to move to the beach.

The other top 10 markets are Stockton, Calif., at No. 1, followed by Las Vegas at No. 3, Fort Lauderdale, Miami, Napa, Calif., Phoenix, San Diego, Detroit and Washington, D.C.

Go to http://www.frontdoor.com/top10 to read more about each of the top 10 picks. The Naples link is http://www.frontdoor.com/Buy/Top-10-Bargain-Markets-for-Homebuyers/54963/p2

FrontDoor.com (http://www.frontdoor.com) is an online real estate listing service powered by HGTV, the No. 1 source for home-related media content. The site currently offers more than 3 million listings of homes for sale and partners with other leaders in the home shelter category including Realogy Corp., In addition to providing users with the latest real estate listings, FrontDoor houses expert HGTV advice and videos along with original Web series and a comprehensive library of engaging, interactive tools, guides and information.

http://www.frontdoor.com/Buy/Top-10-Bargain-Markets-for-Homebuyers/54963/p2

SW Fla. housing market ready to recover, economic forecaster predict

By ELIZABETH KELLAR

Originally published 03:10 p.m., March 24, 2009
Updated 03:24 p.m., March 24, 2009

LEE COUNTY — Economic insiders presented a cautiously optimistic forecast for Southwest Florida’s real estate situation at the fourth annual Bonita/Estero Market Pulse on Tuesday.

More than 200 people attended the morning event, which was organized by the Bonita Springs Area Chamber of Commerce and the Bonita Springs-Estero Association of Realtors. Many were Realtors and other businesspersons with an interest in the real estate market.

What they learned was that Southwest Florida is ready to recover from the recent months of foreclosures and falling home prices, although that readiness doesn’t mean those conditions will vanish entirely. Presenter Bradley Hunter, chief economist and director of consulting with Metrostudy, a national housing market study company, predicted more foreclosures as a result of adjustable rate mortgages recasting.

He also noted that home prices in the Fort Myers/Cape Coral area have dropped to 1997 levels. He forecast the median price of area homes will fall another 10 to 15 percent, but with the caveat that not all homes will decrease that much.

“That’s what we’re trying to get across to the buyer,” said Dotti Fagan, a Bonita Springs Realtor with John R. Wood Realtors, who attended Market Pulse that was at the Three Oaks Banquet and Conference Center in Estero. “Not everything will come down more.”

She found this year’s event encouraging, despite the mention of more foreclosures and falling home prices.

“It pointed out what we all in the market know, that we’re approaching the bottom,” she said.

That long-discussed bottom was how presenter Michael Timmerman, a senior associate at financial consulting firm Fishkind and Associates, opened his remarks. He said Southwest Floridians are at the lowest point of a market cycle that once climaxed with euphoria and is now crashing with “capitulation” and “despondency.”

Florida’s current recession is the deepest it has experienced since 1976, but there are general, gradual signs of improvement – jobless claims are up, he said, but leveling off. Retail sales are also rising.

Also, after experiencing an enormous surge in Lee County housing starts between 2004 and 2006, “we’re at about a fourth of what we’re done for the last 28 years.”

By 2011 and 2012, Timmerman said, the area will begin to experience improved migration trends, stronger housing markets and a rebound in non-residential construction. He noted that many of the residents who moved away in recent years are candidates for a return to the state in coming years.

“We’re almost to the point where we’re out,” he said.

Presenter Jim Garinger, a principal and managing director of Colliers Arnold commercial real estate in Fort Myers, shared some of the area’s recent commercial real estate statistics and forecast. Value-oriented vendors, he noted, represent a healthy market segment.

It is saving, not splurging, that is the new watchword of the real estate market. Metrostudy’s Hunter noted that homebuyers are still motivated when the deal is good. He indicated that the days of using one’s home to support luxury living are officially over: $913 billion of home equity was withdrawn in 2005, he said, representing 10.5 percent of personal consumption. Now, there are 12 million homeowners with negative or zero equity.

Tom Robinson, a banker with Wachovia Bank in Naples, attended Market Pulse. He called some of the new numbers “staggering” and agreed with Hunter’s claim that the days of using a home to finance other endeavors are gone.

“No longer can you get a 90 percent loan value on your home,” Robinson said.

E-mail Elizabeth Kellar at ewendt@comcast.net.

© Naples News

Naples Realtors say they're enjoying one of their best seasons since 2005

By LAURA LAYDEN
1:46 p.m., Friday, March 13, 2009

New estimate slows Colliers growth rate to 64 percent

By LESLIE WILLIAMS

Saturday, June 14, 2008

Collier County is changing the way it plans for the future.

A new estimate for Collier’s population into the future shows a slower growth rate than previously anticipated, possibly reducing the need to expand certain types of projects for roads and utilities.

Rather than the 77 percent growth anticipated by Collier County government during the next 22 years, the county’s new population model calls for 64 percent growth in the county’s permanent population through 2030.

Based on a recent study, levels of service for everything from transportation to utilities will be set based on permanent population numbers, plus a 20 percent increase to account for part-time residents and visitors.

Collier commissioners unanimously accepted the model at a recent meeting with little discussion, other than to verify that the Collier County Planning Commission would have a chance to reconsider the study in June or July. That’s when more specific information is expected on the actual numbers for needed services, such as wastewater treatment and community park use.

As the new model is put into practice, county staff will determine whether to realign services or growth plans to account for the new numbers.

The new population numbers are based on projections provided by the University of Florida’s Bureau of Economic and Business Research, which are used outside of census years.

According to Collier County records, the Florida Department of Community Affairs informed county government that the previous population methodology employed by county staff was “not a professionally acceptable population methodology.�

According to numbers from the Bureau of Economic and Business Research, the 2007 permanent population of Collier County was 333,858, equating to a seasonal population of 406,882 with the 20 percent adjustment.

That permanent population figure is 1.5 percent lower than reported by county staff in the 2007 Annual Update and Inventory Report, when it was listed as 339,068.

The 20 percent figure for seasonal population was obtained based on facts that the seasonal population rate for 2000 was 23.8 percent over the permanent population.

However, a memo from Planning Commission Director Randy Cohen reasoned that seasonal homes are never 100 percent occupied at a given time. Instead, the occupancy of those seasonal units is assumed to be about 85 percent, bringing the seasonal increase to a little more than 20 percent.

Other scenarios have the seasonal population adding anywhere between 17 and 19 percent to the permanent population, but as the memo states, “Staff was provided direction by (commissioners) to provide for the worst case scenario with regard to public utilities.�

The new estimates call for slightly more modest growth than was predicted in the 2007 Annual Update and Inventory Report, with permanent population in 2030 predicted at 548,900, an 8.3 percent reduction from the 598,500 residents anticipated.

In the near-term, the 2010 permanent population is anticipated at 353,900, 6.7 percent less residents than the 379,200 listed in the 2007 report.

**************

Collier County permanent population* growth predictions

2007 333,858

2010 353,900

2015 406,300

2020 455,300

2025 503,300

2030 548,900

2025 591,200

* To determine seasonal population, the county will add 20 percent to each year’s permanent population

Source: Collier County records, UF Bureau of Economic and Business Research

Foreclosure restricts future home financing

WASHINGTON – May 28, 2008 – Homeowners going through foreclosure today may have to wait five years before they are able to get financing for a home again.

That’s according to new federal guidelines from the Federal National Mortgage Association and the Federal Home Mortgage Corp., otherwise known as Fannie Mae and Freddie Mac.

And after those five years, a borrower would have to have a Fair Isaac Corp. (FICO) credit score of 680 and put 10 percent down, said Leslie Swart, managing partner and senior loan officer at Blue Skye Lending in Lakewood Ranch.

A FICO score ranges from 300 to 850 points and factors in things like length of credit history, how timely a person is in paying his or her bills and how much an individual has in debt versus available credit, according to Bankrate.com. About 27 percent of the nation falls into the 750-799 scoring range, according to FICO. The smallest category 2 percent – has scores of 499 or less.

“Fannie Mae and Freddie Mac, they’re actually tightening up those restrictions that much more,” Swart said. “The pendulum has swung to the other extreme.”

The move has come about as a result of soaring foreclosures in the nation, mostly linked to subprime mortgages that have left the financial sector in disarray.

Banks and lenders, many of which have written down billions of dollars in bad loans, are less willing to take risk in the subprime aftermath. Fannie Mae and Freddie Mac are the largest purchases of loans sold by banks and lenders on the secondary market.

Traditional mortgage companies also are looking at credit qualifications with more scrutiny, Swart said.

“What’s interesting is, it used to be we could say anything (credit score) over 700 or 720, you’re golden,” Swart said. “But some lenders are pricing their (annual percentage) rates differently at higher FICO levels. You can still get financing in the high 600s, but your rates are better if you’re 720 or plus.”

Bottom line: Homeowners should do everything they can to avoid foreclosure, either through renegotiating the loan with the bank or arranging a short sale of the property.

“Foreclosure and bankruptcy will affect your credit in a real negative manner,” said Mike Rahn, production manager with CNL Bank in Sarasota. “A short sale will affect it less than that.”

A short sale involves the bank agreeing to let the borrower sell the property for less than what he or she owes on the mortgage. The bank ends up saddled with the loss on the mortgage.

“A seller could negotiate a short sale with the bank and it could have little or no impact on their credit,” Rahn said.

Most banks evaluate whether to allow a short sale on a case-by-case basis, he adds.

Manatee County court records suggest banks may be more willing to cooperate with borrowers as the foreclosure fallout continues.

Out of 2,528 foreclosure suits filed in 2007, 328 – or roughly 13 percent – were dismissed, suggesting borrowers were able to make repayment or short sale arrangements with lenders.

The worst thing you can do is merely walk away from a home being foreclosed on, said Tracey Starrett, an attorney with the Law Offices of Paul A. Blucher in Bradenton.

Doing so doesn’t necessarily let one off the hook for his or her obligations to the lender, she said.

“A lot of times,” Starrett said, “if the bank decides that they’re not going to be satisfied with just getting the property back and they want to sue on the note as well because there’s a deficiency, meaning you’re upside down, they can file a summary judgment for a deficiency and come after you for that. So a lot of times, a foreclosure may lead to bankruptcy.

“Your credit score takes the biggest hit with bankruptcy. Foreclosure is second. A short sale is a lesser hit.”

A bank’s decision to pursue a deficiency judgment is also typically made case by case, said John Hanlon, assistant vice president of commercial lending with Community Bank in Bradenton.

“If a borrower has other potential assets or a way to repay and the bank’s going to suffer a loss, we want to get back as much as we can,” Hanlon said. “I think a lot of banks are trying to work things out with the borrower. The bank doesn’t want to take the property back, obviously.”

Copyright © 2008 The Bradenton Herald, Fla., Brian Neill and Melissa Followell. Distributed by McClatchy-Tribune Information Services.

NAR: Worst is over – existing-home sales to trend up in 2008

WASHINGTON – Dec. 11, 2007 – Existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise, according to the latest forecast by the National Association of Realtors® (NAR). However, a recovery for new-home sales is unlikely before 2009.

Lawrence Yun, NAR chief economist, says the worst part of the credit crunch has already worked its way through the data. “The unusual mortgage disruptions that peaked in August were clearly seen in lower home sales that were finalized in September and October, so the market was underperforming,” he says. “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.”

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in October, increased 0.6 percent to an index of 87.2 from an upwardly revised reading of 86.7 in September. It was the second consecutive monthly gain, but still 18.4 percent below the October 2006 index of 106.8. “The broad trend over the coming year will be a gradual rise in existing-home sales, but because sales are exceptionally low in the final months of 2007, total sales for 2008 will be only modestly higher than 2007,” Yun says.

The PHSI in the Northeast jumped 16.0 percent in October to 80.6 but is 11.1 percent below a year ago. In the West, the index rose 8.4 percent to 87.3 but is 16.9 percent lower than October 2006. The index in the Midwest slipped 1.4 percent in October to 85.5 and is 11.7 percent below a year ago. In the South, the index dropped 7.8 percent in October to 91.6 and is 25.3 percent below October 2006.

“The improvement in the Northeast reaffirms a trend apparent for some months now that shows signs of recovery, noteworthy because that was the first region to slump, and the gain in the West indicates some easing of interest rates for jumbo loans,” Yun says. “Lawmakers need to understand that raising the loan limits on FHA and GSE-backed conventional loans will markedly improve mortgage availability.”

Existing-home sales are likely to total 5.67 million this year, the fifth highest on record, rising to 5.70 million in 2008, in contrast with 6.48 million in 2006. Existing-home prices should be down 1.9 percent to a median of $217,600 for all of 2007, and then rise 0.3 percent to $218,300 in 2008.

“Home price growth in the vast affordable midsection of America will help raise the national median existing-home price slightly in 2008. I then expect price appreciation to return to more normal patterns in 2009, perhaps rising one or two percentage points above the rate of inflation,” Yun says.

“Even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the U.S. are showing price increases,” he said. “The apparent disparity results from fewer sales in high-cost markets, so a change in the mix of sales is dragging down the national median home price.”

Areas showing healthy price gains include disparate markets such as Gary-Hammond, Ind.; Binghamton, N.Y.; Corpus Christi, Texas; and Spokane, Wash. “We can’t emphasis enough how much local conditions vary, even within a given area, so it’s important for consumers to make decisions based on local market conditions.”

New-home sales are forecast at 788,000 this year and 693,000 in 2008, down from 1.05 million in 2006; no sustained improvement is seen for new homes until 2009. Because builders have correctly adjusted production, housing starts, including multifamily units, will probably total 1.36 million this year and 1.16 million in 2008, down from 1.80 million last year. The median new-home price is projected to drop 3.0 percent to $239,100 for 2007, and then decline another 0.2 percent to $236,600 in 2008.

The 30-year fixed-rate mortgage is estimated to rise slowly to the 6.4 percent range by the end of 2008, with additional cuts in the Fed funds rate lowering short-term interest rates.

Growth in the U.S. gross domestic product (GDP) should be 2.1 percent in 2007, down from a 2.9 percent growth rate last year; GDP growth is forecast to improve to 2.4 percent in 2008.

The unemployment rate is likely to average 4.6 percent for 2007, unchanged from last year, but rise to 5.0 percent in 2008. Inflation, as measured by the Consumer Price Index, will probably be 2.8 percent this year and 2.7 percent in 2008, down from 3.2 percent in 2006. Inflation-adjusted disposable personal income is estimated to grow 3.1 percent this year, the same as in 2006, and then grow 2.2 percent next year.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

Big Plans - 22,000 Acre Big Cypress

Wednesday, September 27, 2006

In the 1920s, New York advertising magnate Barron Gift Collier began carving civilization out of a wilderness that would become Collier County. Some 80 years later, the company that traces its roots to that pioneer is at it again, with plans to found a new town, dubbed Big Cypress, east of Golden Gate Estates.

Collier Enterprises wants to build some 25,000 homes in a new town and in a scattering of smaller villages and hamlets on 8,000 acres of farmland surrounded by 14,000 acres of preserve. The project would take 25 to 30 years to build. Work won’t get started until at least 2010, Collier Enterprises CEO Tom Flood said.

Big Cypress, along with its neighbor, Ave Maria University and its companion town, are products of a landmark 2002 growth plan that requires landowners to preserve and restore land to earn credits for development.

The 22,000-acre Big Cypress district is more than 34 square miles — about twice the size of the city of Naples — and represents an unprecedented blank slate to plan for growth in Collier County.

The company is planning public workshops to get community input on the Big Cypress plans after a kickoff event in late October. Details still are being planned.

The workshops would focus on land conservation, agriculture, parks, schools, economic development, roads and housing, according to the company.

Flood said the goal of the company’s planning is to make Big Cypress a self-sustaining town that fits with the rural character of eastern Collier County.

“We don’t see this as a bedroom community of Naples,” Flood said. “We see this as a place for people to live and work.”

The center of the town would be built in the middle of a loop created by a realignment of Oil Well Road and an extension of Randall Boulevard. Immokalee Road and Golden Gate Boulevard also would provide access to Big Cypress.

Plans don’t include hooking up the Vanderbilt Beach Road extension to Big Cypress. Some Golden Gate Estates residents had blamed the need for the controversial extension on the Collier company plans.

Flood said the extension is “not driving our thinking at all” and that it would be “fine with him” if the extension never hooks up to Big Cypress.

Plans propose a “conceptual alternative interchange” at Interstate 75 (Alligator Alley) with a new road that would meander north, through Big Cypress to Immokalee Road.

The conceptual alternate location is about two miles east of the spot of a proposed I-75 interchange at Everglades Boulevard, which would have to be widened to six lanes, putting it through residents’ yards and driveways, Flood said.

The conceptual road through Big Cypress would wind past six villages, each with up to 1,000 acres. Plans also show two hamlets, each with up to 100 acres.

Flood said the company wants to create a 23-mile walking trail that would connect the villages and lend a rural twist to the project.

Besides the 14,000 acres of preserve within the district boundaries, Collier Enterprises also will have to preserve 13,000 acres beyond the new town to earn enough development credits under the 2002 growth plan.

Collier County Audubon Society policy advocate Brad Cornell said the Big Cypress plans still must overcome questions about size and compatibility with surrounding land, including habitat for the endangered Florida habitat and woodstork.

“They (the Big Cypress plans) are big; they’re really big,” Cornell said. “In every respect it’s big, and there’s a lot of questions left unanswered in my mind.”

For example, Cornell said he wants to know more about how the company will mitigate the effects of its proposed interchange at I-75.

Cornell said the mitigation should involve buying up panther habitat in Golden Gate Estates between North Belle Meade and the Florida Panther National Wildlife Refuge.

Another question is where Collier Enterprises will set aside the additional 13,000 acres it needs to earn development credits under the 2002 plan.

“We’re still mulling the road and how to optimize (the mitigation) for environmental benefit,” Florida Wildlife Federation field representative Nancy Payton said.

Overall, though, the plans are within the scope of the 2002 growth plan and “that’s a good thing,” Payton said.

She said environmental groups who backed the 2002 plan didn’t anticipate that new towns would start popping up so quickly. That also means preserve land is getting set aside more quickly.

“It is seeing our county change quicker than we’d like to see it change, but we’re prepared — we have a plan,” she said.

The next step is to embark on what Flood says is a genuine effort to get input from the town’s neighbors. The biggest neighbor is Golden Gate Estates.

“I think residents of Golden Gate Estates will be interested in what we’re doing and I hope they’ll conclude that we’re going to be good neighbors,” Flood said.

Golden Gate Estates Area Civic Association President Mark Teaters said, from what he’s heard so far, the company is “making the right moves.”

Teaters acknowledges, though, that Collier Enterprises might face a skeptical crowd in Golden Gate Estates residents who fear their rural lifestyle is slipping away.

“It’s not ever going to be the same,” Teaters said. “Things are going to change.”

Some changes will be for the better, Teaters said.

He said Big Cypress plans will bring commercial services closer and help solve traffic problems in the Estates.

Immokalee community leader Fred Thomas said the plans “make all the sense in the world.”

“It will help focus everyone’s attention on making Immokalee the industrial hub of Collier County,” Thomas said.

At the same time the company is touting plans for Big Cypress, the company is unveiling plans for a 580-acre expansion of an industrial park and 470-acre moderately priced housing development southeast of the Immokalee Airport.

The company also is talking with Collier County officials about speeding up planning for a bypass road around Immokalee, Flood said. He said Collier Enterprises is willing to provide land it owns for a link in the bypass. The road also would pass through land owned by Barron Collier Cos. and Consolidated Citrus.

“It’s time to get a shovel in the ground,” Flood said.

Home buying will stay strong, real estate executive says

Analyze national and local real estate sales — and prices — from a 100-year perspective and recent trends are really very promising, Coldwell Banker leaders said Thursday at a two day company conference at the RitzCarlton Beach Resort, Coldwell Banker President and Chief Executive Officer Jim Gillespie said the real estate market may be a little “off” this year, but the numbers are still impressive.

“Some of the (newspaper) headlines don’t really tell the story,” Gillespie said. Real estate may be off 7.6 percent from the previous year, but it was coming off the industry’s best year in history, Gillespie said.

Founded just after the 1906 San Francisco earthquake, Coldwell Banker is celebrating its 100th anniversary in the real estate business Reacting to trends predicted this week by National Association of Realtors, a trade organization representing 1.3 million members, Gillespie said he is still bullish on the future of real estate.

Addressing U.S. Senate housing, transportation and economic policy subcommittees on Wednesday, NAR President Thomas M. Stevens said housing prices are expected to drop throughout the end of the year, and will become more of a buyer’s — than seller’s — market.

“After five years of outstanding growth, the housing market is undergoing a period of adjustment and becoming more and more of a balanced market between buyers and sellers,” said Stevens, according to a news release posted on the NAR Web site.

NAR forecasts a total 8 percent drop in home sales for 2006, followed by another 2 percent decline in 2007. Increases in sales prices will be minimal, according to NAR: less than 3 percent in 2006 and 2007. In 2005, national resales totaled 7.1 million, Gillespie said Thursday. That’s not new home sales — which were about 1.2 to 1.3 million — but resales, he stressed. In 1995, the U.S. hit 4 million resales. In 2000, the nation saw barely 5 million resales.

“Last year was the fifth year in a row for record resales,” Gillespie said. What real estate brokers will see this year is still the “third best year” in history, Gillespie said. The real estate market will continue to remain strong because of newly emerging markets, he said. There are some 78 million baby boomers around the country, and they’ve discovered real estate as an investment, Gillespie said.

Also, consider the 1.2 to 1.4 legal immigrants who want to buy homes, minorities and single women, and the fact that interest rates are near historic lows. The willing buyers are there, he said. Noting that housing markets vary from state to state, Stevens told senators that one-third of the nation’s population will actually face increasing home prices, including Alaska, New Mexico, Vermont and some Southern states.

However, the states that experienced the greatest increases in home prices in the recent past will see “significantly lower sales,” Stevens said. That includes Arizona, California, Florida, Nevada and Virginia. Asked to address Southwest Florida’s affordable housing concerns, Gillespie said he believes that if a Coldwell Banker real estate agent searched hard enough, he or she would probably be able to find a home for most.

But buyers may have to trade on some priorities, such as longer commutes to work, and might have to talk to family to get a loan, he said. He and Budge Huskey, president and chief operating officer for Coldwell Bank Florida residential real estate, also conceded that in every market there are going to be hopeful buyers who will be priced out. “I’m not going to suggest everyone is going to be able to own (but) prices are beginning to stabilize,” Huskey said.

Acknowledging that the local markets are “challenged” by affordable housing, there’s still a demand for the high-end products, said Charles Richardson, Coldwell’s senior vice president and regional manager for Southwest Florida. Local sales numbers and prices seem to buck the trend, Richardson pointed out.

“The average sales price in Naples has actually gone up,” he said. While in the past two months the median sales price in Collier County has decreased, year over year, real estate professionals in 2006 are still doing better than last year, Richardson said. Gillespie and Huskey stressed a point NARS officials emphasized this week.

The national apartment rental market — multifamily housing — is benefiting from weaker home sales as potential home buyers remain in rental housing. Vacancy rates in the fourth quarter are expected to average 5.2 percent, down from 6.2 percent during the fourth quarter of 2005. It was not immediately clear Thursday whether Southwest Floridians will be able to enjoy that trend. Average rent is projected to increase 4.8 percent in 2006, compared with 2.9 percent last year.

"But if you already own a house you like and there's no other reason for moving, stay put," he says.
What your time horizon is: The value of bubble sitting also depends on how long you intend to live in a house. If you're planning to be there for five years or more, it make sense to buy as soon as possible. Time smoothes out any price bumps - over long periods prices nearly always go up - and the tax advantages may help make it cheaper to buy than rent.
It's a different story for the short term. Then, all those buying and selling expenses means that even in flat markets, you could be underwater if you sell out after two or three years.
 

August 15, 2006
Naples MLS Stats for July 2006

Nine of 14 area schools receive 'A's Friday, June 23, 2006

It's apples all around for the 14 schools serving the Collier Citizen readership area. Nine of the area's schools received 'A's, two earned'B's and three received 'C's on their state reports cards for 2005-06. Only one school fell in grade level and four brought their grades up at least one grade level. At the head of the class are Golden Gate Middle and Estates Elementary, both of which jumped from 'C's to 'A's in 2006. "The faculty is very excited," GGMS Principal Mary Murray said of the school's first 'A'. "It's been a good shot in the arm, not only for Golden Gate Middle, but for the Golden Gate community as a whole." Oliver Phipps, principal at Estates Elementary says the accomplishment represents a team effort on the part of a highly-motivated staff. "I called the team leaders to let them know and each one of them screamed over the phone," he says. "It's summer, but they're already pumped for next year." Eight years ago, when the state first launched the grading system, the Collier school district had only two 'A' schools -Oakridge and Pine Ridge middle schools. This year, the district had 22 'A' schools, nine'B' schools, 10 'C' schools, one 'D' (Everglades City) and one 'F' school (Immokalee High School). The state grades reflect each school's progress in improving scores on the Florida Comprehensive Assessment Test. For that reason, schools can earn 'A's and still have test scores under district and state averages. In addition to the state grades, schools were also awarded a"pass/fail" from the federal government to measure adequate yearly progress under the No Child Left Behind initiative. Of the 14 schools serving the Citizen readership area, four made AYP and three failed. Seven schools were given "provisional" AYP status, a label established by Florida Gov. Jeb Bush for schools deemed as high performing under the Florida education system but not meeting all of the NCLB requirements. Countywide, 10 schools made AYP, 12 failed and 21 were given provisional status.

Sabal Palm and Golden Terrace elementary schools also improved their grades one grade level with an 'A' and a 'B,' respectively. For some schools, better grades were missed by just a few points. Golden Gate Elementary missed a 'B' by one point and Gulf Coast High School missed retaining its 'A' by just six points. "It really makes you think," says GCHS Principal Dave Stump, "When it's that close, one student's performance could make a real difference. We'll take a close look at the data and then sit down with the staff to talk about what we will do next year." Schools that noted significant improvements had some common approaches. Nearly all schools boosted their reading and writing programs and targeted lower performing students. Title I schools, those that receive federal assistance, used funds for additional staffing and programming. "Our sixth and eighth graders averaged up to two-year gains in reading and our seventh graders averaged more than two-year gains," says Murray, whose school also established a mandatory uniform policy this year. Murray downplays any direct tie between the new policy and the test score improvements, but says the change was an important part of a new direction for the school. "We changed the climate of the school and reformulated how we were doing business," she says. "We changed scheduling to tailor learning to the individual needs of the students." To hold the thermostat steady on the new school climate, Murray says it was vital that all school staff took ownership of the change, establishing consistent expectations of performance, effort, and discipline in all classrooms. Parents were also brought on board to encourage the same expectations at home. "We spent a lot of time on teacher morale to ensure a more positive environment for all," Murray says. That was time spent wisely, according to Phipps, who has been known for his unique approach. While at Golden Gate Elementary, Phipps held a "revival" for his staff, complete with robes and choir. "There is a lot that teachers have to do these days," he explains. "They have 25 children at all different levels and they have to individualize learning for each child. There's a lot involved. When they come to work, they need to be pumped up. I've been blessed with a staff that works hard and has a passion for teaching. I do a lot of cheerleading to make sure they know they are appreciated." © 2006 Naples Daily News and NDN Productions. Published in Naples, Florida, USA by the E.W. Scripps Co.

Posted by Michael
4/24/2006

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WASHINGTON -- April 12, 2006 -- According to the National Association of Realtors'® (NAR) monthly housing market report, home sales should generally level out and remain at historically high levels, making 2006 the third-strongest year on record. David Lereah, NAR’s chief economist, says mortgage interest rates are trending up but will remain favorable. “Economic growth and job creation are providing a favorable backdrop for the housing market, but rising interest rates have an offsetting effect,” Lereah said. “Home sales will move up and down somewhat over the remainder of the year but stay at a high plateau, meaning this will be the third strongest year on record.” He expects the 30-year fixed-rate mortgage to rise to 6.9 percent by the end of the year. Growth in the U.S. gross domestic product is forecast at 3.7 percent in 2006, while the unemployment rate should average 4.8 percent. Existing-home sales are projected to drop 6.0 percent to 6.65 million this year from a record 7.08 million in 2005. New-home sales are likely to fall 10.9 percent to 1.14 million from the record 1.28 million last year -- both sectors would see the third best year following 2005 and 2004. Housing starts are forecast at 2.00 million in 2006, which is 3.2 percent below the 2.07 million in total starts last year. NAR President Thomas M. Stevens notes that home prices are expected to cool, but not as much as in earlier projections. “Although housing inventories have been improving, the balance is still a bit more favorable for sellers and annual appreciation remains in double-digit territory,” says Stevens. “Even so, the market is in a process of normalization -- appreciation will return to normal single-digit patterns, providing solid investment returns into the future.” The national median existing-home price for all housing types is likely to increase 6.4 percent this year to $221,700, while the median new-home price is expected to rise 2.3 percent to $242,700. Inflation as measured by the Consumer Price Index is seen at 3.4 percent in 2006. Inflation-adjusted disposable personal income should grow 3.8 percent this year.

Buyer & home seller survey shows rising use of Internet, reliance on agents WASHINGTON -- Jan. 18, 2006 -- Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate associates and brokers, according to one of the largest surveys of real estate consumers ever conducted. The 2005 National Association of Realtors® Profile of Home Buyers and Sellers survey is based on more than 7,800 responses to a questionnaire mailed to a large national sample of consumers located through county deed records. Nine out of 10 homebuyers use a real estate agent in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005 and 74 percent in2004. The next largest source of information for buyers is a yard sign, mentioned by 71percent of buyers. When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997.Although most buyers use an agent to complete the transaction, 36 first learn about the home they buy from a real estate agent;5 percent get information from yard signs; five other categories were 7 percent or less. NAR President Thomas M. Stevens says the findings underscore the Complexity of the home-buying process. "The real estate industry today Bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers," Stevens says. "Realtors have invested a lot of time and money in building information technology, and because of these efforts, more consumers than ever are using the Internet in their home search." The survey shows 81 percent of buyers that use the Internet to search for a home purchase that home through a real estate associate, while 63 percent of non-Internet users buy through an associate. Non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction. "We find that the level of for-sale-by-owners is on a sustained decline and is now at are cord low. In addition, a growing share of FSBO properties are not placed on the open market -- they're private transactions," Stevens says. A clear downtrend in FSBOs has been seen since that market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005; and 39 percent of those FSBO transactions were "closely held" between parties that knew each other in advance, up from 32 percent in2004. The FSBO market share was at 14 percent in both 2003 and 2004. NAR began tracking the FSBO market in 1981; the record was 20 percent in 1987.