214 Useppa Island Just Sold

New neighbors arrive just in time for the Holidays. 214 Useppa Island just sold.

Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. 

Here are six great reasons not to wait:

Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays.

Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy.

You can restrict the showings on your home to the times you want it shown. You will remain in control.

Homes show better when decorated for the holidays.
There is less competition for you as a seller right now. 

Let’s take a look at listing inventory as compared to the same time last year:

The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge reaching new heights in 2017, which will lessen the demand for your house.

Bottom Line

Waiting until after the holidays to sell your home probably doesn't make sense.

Warm wishes for the best Thanksgiving ever.

We are thankful for You!

Classic Bungalow - 124 Useppa Island Just Listed

High on the ridge, this comfortable home captures the essence of Useppa Island living. Steps to the beach, enjoy broad water views of Pine Island Sound surrounded by tropical splendor. 

This is Private Island living at its finest with soaring ceilings, kitchen with granite and stainless, granite bath counters, tile and carpet flooring, 3 bedrooms, 4 baths, a study, screened porch and a deck.   View the details

Are We Sure Winter Isn't Here?

Islanders are starting to arrive - NOW! That means it’ has to be winter, doesn’t it?

We live on Useppa, a 100-acre island situated about 3 miles off the coast of Pine Island. Mostly a second home community, our “Season” begins right around Thanksgiving. Everyone then disappears until a day or two after Christmas.

Such has been the pattern since we first arrived over 30 years ago. This year is different! More than a few families stayed into June, when Easter, no matter when it came, was historically the signal, “The Season” was over! There were even a number of families that stayed the entire summer, with even more planning to do so next year. And more have been returning early, but early October? It’s not TIME for them to come back.

How do we know that’s happening? Telephone and Internet services are being taken off “vacation mode.” Pool Services say they’ve been prepping pools for the last few weeks and forwarded mail is already arriving at Post Offices. Wait a minute, Fall just started.

It could be the weather. The Farmer’s Almanac is predicting “snow piling up on the plains,” “low temps and above normal precipitation in the northeast,” along with a “particularly cold and wet winter for the mid-Atlantic.” So, maybe they are being called early to the Sunshine State.

We like to think they have fallen in love. Regardless, we are more than happy to meet, greet and share our very special island with those seeking a gentler, warmer and fun place to be. 

Discover Paradise Without A Passport!

New Price for 214 Useppa Island - Useppa Island Homes for Sale

Chart your course for Paradise. Great waterfront home with expansive dock and 18K lift, along with plenty of room for entertaining family and friends. Offering 3,409 sf, and a huge waterfront Florida room with outdoor kitchen, beautiful updates, hardwood flooring and volume ceilings.

Now offered for $1,165,000. View the property details.

We're welcoming more new neighbors to Useppa Island

Welcome home Jeff and Jennifer! 137-A Useppa Island "Casa Veranda" Just Sold.

They have visited us often and are looking forward to spending much more time on our perfect piece of Paradise.

Beachfront Splendor - 114-A Useppa Island Just Listed

Welcoming coastal cottage updated and furnished. Steps to the beach, this 2 bedroom, 2 bath Villa is moments from all of the Island amenities. Marvelous views, beachfront screened porch, updated kitchen with tray ceiling, granite breakfast bar, gleaming hardwood floors and fireplace, along with an inviting master offering a vaulted ceiling and private balcony.

View property details

Perfect Waterfront Retreat - 508 Useppa Island Just Listed

This welcoming coastal cottage features marvelous views, floor-to-ceiling windows, French doors and a dock at your door. 

Offering great entertaining space indoors and out -- with golf cart included.  Updated with designer finishes, beautiful spa-inspired bath, wine refrigerator, granite and inviting outdoor entertaining area with fire pit. Beautifully furnished with 3 bedrooms, 2 baths and over 1,800 square feet. 

View the property details

Investment & Vacation Home Buyers 2016

Overview of the 2016 Investment & Vacation Home Buyers

The basis for their home purchase, where they purchased and the investment amounts according to the National Association of Realtors®.

• 40 percent of vacation home buyers purchased at the beach
• 42 percent of investment property buyers intend to use the property to generate income
• 39 percent of vacation and investment buyers paid cash for their home

Number of optimistic buyers hits all-time high

Florida Realtors®
WASHINGTON – Aug. 12, 2016 

Home purchase sentiment reached an all-time survey high in July, an indication that Americans are feeling more upbeat about the housing market, according to Fannie Mae.

Overall sentiment rose 3.3 points to a reading of 86.5. Each of the index's six components– including selling outlook and personal finances – also rose last month.

The share of consumers who said they would buy if they were going to move climbed to 67 percent, while the share of consumers who said they would rent dropped to 26 percent, an all-time survey low.

Forty-one percent of consumers expect home prices to rise over the next 12 months, an increase of 8 percentage points from June. Household income rebounded in July as well, rising 3 percentage points to 11 percent.

"The HPSI (Home Purchase Sentiment Index) reached a new survey high in July, but enthusiasm should be tempered because the increase only returns the index to a very gradual upward trend," says Doug Duncan, senior vice president and chief economist at Fannie Mae.

"One interesting potential bright note for housing in the July survey is that younger households may finally be shifting toward buying rather than renting in greater numbers," Duncan adds "Whether the shift in sentiment in July toward buying rather than renting on their next move holds up or is a temporary reaction to their view that rents are on the rise and mortgage rates will be lower, we will see. However, we are getting set to release some additional research in early August showing evidence of a broader move by older millennials in the direction of ownership."

Additional findings from the latest survey
•33% of Americans say it's a good time to buy a house, a 1 percentage point increase over June
•20% of Americans say it's a good time to sell a home, a 2 percentage point increase from June (a new survey high)
•41% of Americans believe home prices will rise, an 8 percentage point increase from June
•36% of Americans believe mortgage rates will drop over the next year.
•69% of Americans say they are not concerned with losing their job, a 1 percentage point increase from June
•11% of Americans say their household income is significantly higher than it was 12 months ago, a 3 percentage point increase from June's sharp decline

Source: Fannie Mae

U.S. Vacation Homes Sales Remain at High Level - Second Homes on Useppa Island

Baby Boomers propel demand for vacation homes.

In 2015, total annual U.S. vacation home sales reached the second highest level since 2006, according to the National Association of Realtors® 2015 Investment and Vacation Home Buyers Survey.

“Baby boomers at or near retirement continue to propel the demand for second homes”, says Lawrence Yun, NAR’s Chief Economist and Senior Vice President of Research. “The expanding pool of buyers amidst a dwindling number of bargain-priced properties led to tighter supply and fewer sales, causing the price of vacation homes to rise.”

Vacation home sales last year dipped to an estimated 920,000, down 18.5 percent from a recent peak of 1.13 million in 2014. Still, vacation sales were at the second-highest amount since 2006 (1.07 million). The median vacation home price was $192,000, up 28 percent from $140,000 in 2014.

According to Yun, many of the metro areas with the strongest price appreciation in 2015 were in the South — the most popular destination for vacation buyers - and particularly in several Florida markets. While increased buyer demand contributed to the run-up in prices, it also likely squeezed less affluent households looking to purchase vacation properties.

The survey found that more second-home buyers are choosing to invest, and investment purchases climbed 7 percent in 2015. Owner-occupied investment purchases increased 15.9 percent to 3.74 million – the highest level since 2007.

“Despite a smaller share of distressed properties coming onto the market, investment purchases reversed course in 2015 after declining for four straight years,” says Yun.

Characteristics of Vacation-Home Purchases

With more vacation buyers purchasing single-family homes (58 percent) compared to a year ago (54 percent), the share of those buying a condo (25 percent) or a townhouse or row house (13 percent) decreased in this year's survey. Forty-percent of vacation buyers purchased in a beach area, 19 percent purchased in the mountains or at a lakefront and 16 percent purchased a vacation home in the country.

Over one-third of vacation buyers plan to use their property for vacations or as a family retreat (37 percent), 16 percent bought for future retirement plans and only 7 percent purchased to generate income through renting the property, a decrease from 11 percent in 2014. 

Florida Association of Realtors®, August 2016
National Association of Realtors®, April 2016

204 Useppa Island Just Sold!

We're welcoming more new neighbors to Useppa Island. Ron and Maria Brown, from Winter Haven Florida, are our newest residents. With 204 Useppa Island their new favorite place, they've renamed the cottage "Tranquility." They've grown very fond of the Useppa Lifestyle, calling our little paradise "A Magical Place." 

Welcome to Island Life!

It Pays to Work with a Realtor - Homes on Useppa Island

When you're thinking of buying or selling and the list of tasks is just to much to bear...call us!  Resident Realtors® - Resort & Second Home Property Specialists.

Members:

Realtor® Association of Fort Myers and the Beaches

Florida Association of Realtors®

National Association of Realtors®

Kitchen Trends - Modern Countertop Selections

 New Favorites in Countertop Selection

Is it true? Could granite’s 30-year reign be coming to an end? We can’t say for sure. In fact, we think granite remains a solid choice. After all, it’s both durable and attractive — and it’s become increasingly affordable too. But there’s just no denying granite’s seeming decline. As homeowners opt for more modern kitchen designs, they’re also opting for more understated countertop alternatives.

Engineered Quartz:

Perhaps granite’s top competitor, engineered quartz offers the beauty of stone without the maintenance. It’s tougher than granite, and it’s highly resistant to scratching, cracking, staining and heat. Unlike granite, which offers the unique qualities of natural stone, engineered quartz is largely uniform; because it’s engineered, there’s no choice of one-of-a-kind slab. There are, however, a number of colors and designs available — from stark modern whites to options closely resembling marble. And, because engineered quartz is non-porous, it never has to be sealed like natural stone.

Wood:

Increasingly, homeowners seek and appreciate natural wood countertops — particularly easy butcher blocks and those custom-created by quality craftsmen. While wood countertops can add warmth, balance and beauty to any modern home, they also require a fair amount of maintenance. Because wood is susceptible to damage from heat and moisture, it must be sealed about once a month. The best part about wood, though, is that it can be refinished in the event that damage does occur.

Soapstone:

Soapstone is an attractive, natural quarried stone that ranges from light gray to green-black in color. While the material is soft and pliable, it’s also non-porous. Soapstone is also resistant to stains and acidic materials. The downside to soapstone is that it is susceptible to scratches and deep indentations. Light gray soapstone will also weather and darken over time, occasionally developing a patina finish. The material comes in smaller slabs, so seams will be visible in soapstone countertops longer than seven feet.

Concrete:

Concrete countertops came onto the scene in the 1980s — and they’ve evolved a lot since. These days, precast concrete countertops are available in a number of different colors. Generally, they’re flat and smooth, and they can run from 1.5 inches to 10 feet long. While concrete countertops have historically cracked and chipped easily, recent innovations have made them less prone to damage. Concrete is naturally strong and heat-resistant, and slabs can be sealed to prevent staining.

Stainless Steel:

There’s a reason restaurants use stainless steel countertops in their kitchens. It’s heat-, rust- and stain-resistant; it’s easy to clean; and it won’t absorb or harbor even the toughest bacteria. The downside to stainless steel countertops is that they scratch easily — and they show it too. For this reason, it’s best to use a cutting board any time you’re prepping food on a stainless steel countertop. Also, it’s a good idea to choose a brushed stainless finish that will help conceal any marks. At first blush, you may think that stainless feels ultramodern or cold, but a balance of stainless steel and wood can create a warm, timeless and uber-functional kitchen.

Not Sure Which Countertop to Choose?

When you’re remodeling your kitchen, the most important question to ask yourself is this: Are you remodeling for yourself or a potential buyer? If you’re remodeling for yourself, go with what you like best.

Home Advisor July 2016

Summer. The Right Time to Buy.

Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting.

 1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.2% a year for the next 5 years.

 The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

 2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will be up almost a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

 3. Either Way You Are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

 4. It’s Time to Move On with Your Life

The “cost” of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

KCM.com, July 2016

Rising Home Prices Lift US Wealth Even As Stocks Fall

Federal Reserve reports 1 percent household net worth increase in the first quarter of 2016.

Americans’ household wealth rose in the first three months of this year as home values increased, offsetting a drop in stock prices.

The Federal Reserve said Thursday that U.S. household net worth increased 1 percent to $88.1 trillion in the first quarter. 

Americans’ stock and mutual fund portfolios shrank $160 billion, while home values jumped $498 billion. Savings in certificates of deposit and other bank accounts also rose.

The rise in real estate values likely means the wealth increase was more widely shared than in many previous quarters, because home ownership is the primary source of middle-class wealth. Richer Americans rely more on financial assets.

Greater household wealth could boost consumer spending, which drives 70 percent of the U.S. economy. That would accelerate economic growth. Americans typically spend a bit more when they feel wealthier.

Household wealth, or net worth, reflects the value of homes, stocks and other assets minus mortgages, credit card debt and other borrowing. The Fed’s figures aren’t adjusted for population growth or inflation.

The data underscores one key aspect of the seven-year-old recovery from the Great Recession: Americans’ finances are in much better shape than they were before the downturn.

In 2007, with home prices soaring, Americans loaded up on mortgage and credit card debt. That left them badly exposed when the economy crashed and nearly nine million people lost jobs.

Before the recession, U.S. household debt peaked at about 135 percent of after-tax incomes. That ratio has fallen steadily since and dropped again in the first quarter, to 105.6 percent, down from 107.4 percent a year earlier.

Household wealth has recovered unevenly since the recession. Stock prices began rebounding in 2009 and have reached record highs, lifting the fortunes of the wealthiest one-tenth of Americans, who own 80 percent of shares.

Home prices, meanwhile, didn’t start to recover until 2012 and remain below their boom-era levels in most of the country. That’s left many middle-income families likely poorer than they were before the recession.

Associated Press June 9, 2016

523 Useppa Island Sold!

Our real estate market is heating up with the summer temperatures. 523 Useppa Island Sold. We have new neighbors to welcome to paradise. 

323 Useppa Island Just Sold!

We're welcoming new Neighbors and Friends to Useppa Island. Mangoes Cottage - Spacious 5 Bedroom, 4.5 Bath Just Sold.

BUDGET-MINDED UPGRADES THAT GIVE YOU THE MOST BANG FOR YOUR BUCK

Smart Home Upgrades

Even if you aren’t ready to list your home, a few smart changes can make a big difference in adding to your home’s value and maybe lift your spirits as well.

If you want to increase the appeal and profit potential, strategic and budget-friendly home improvement ideas in these six categories will offer the biggest return on your investment.

 A budget-friendly kitchen remodel

Real estate agents will tell you time and again: Kitchens and baths sell houses. Dated kitchens don’t impress buyers. Make yours as inviting as possible, without the big price tag of a total overhaul.

Replace basic black, or white appliances with stainless steel.

Ditch the laminate counter tops in favor of granite. Make your decisions with budget in mind: choose one of the more affordable granite options.

For appliances, try to find a deeply discounted appliance at an outlet or local “scratch-and-dent” store — where almost-perfect pieces come with perfectly approachable price tags.

An even cheaper option for a quick refresh is by painting, or repainting tired cabinetry and update the hardware. Dramatic changes for under 100.00. Choose colors and styles that will appeal to a broad range of potential home buyers.

Bathroom Upgrades

When it comes to bathrooms, most buyers want updated and clean. Replace the tile with a modern subway-tile, or one of the porcelain tiles that offer a more modern finish.

 Replacing that pre-fab tub surround with a tiled shower costs about $1,000 but makes a big difference.

As with a kitchen remodel, consider which changes will give you the greatest impact. You may not need to replace that old pedestal sink. Instead, you could change out the faucet. 

The same goes for quirky floor tile; choose a new paint color that will enhance it rather than clash with it. Make sure the colors and styles you choose are as universally appealing as possible so buyers see a space they can live with.

There’s relatively no cost for scrubbing that bathroom from top to bottom till it sparkles.

Pick neutral paint colors

Paint still reigns supreme as the easiest and cheapest way to refresh any room, especially if you do the work.

Whites and neutrals can help buyers envision themselves in the space, since they provide a blank slate to serve as a backdrop. Stay away from bold accent walls, or taste specific colors. Lighter earth tones look good with most decorating styles and brighten the room.

Make an impact with flooring

Like paint, quality flooring can drastically change the look and feel of your rooms. Hardwood is always appealing to a wide range of buyers, as are high-quality laminate options and affordable ecofriendly choices like bamboo and cork. 

If your home is hiding hardwood floors under that carpeting, let them shine if they’re in good condition. If you already have hardwood floors, sanding and refinishing can bring them back to life.

Kitchens and baths gain value with tile or laminate flooring, which are both visually appealing and easy to clean. 

Carpeting is still acceptable in bedrooms, especially if it’s plush, in great condition, and in a neutral color.  But more and more buyers are turning away from carpeting altogether.

Even a basic snap-to hardwood installation can beat out wall-to-wall carpeting when it comes time to sell.

Consider home staging

Staging your home helps buyers imagine themselves living in the space, and it’s a relatively inexpensive way to dress up features you’re trying to highlight. 

The first step is clearing the entire home of any clutter and removing any overly personal touches like family photos or children’s artwork.

Furniture should be minimal and arranged in a way that flows well. Buyers will feel claustrophobic if they need to navigate around big pieces as they move from room to room.

If you can, bring in a professional home stager or interior designer to consult on the ideal room arrangements. Otherwise, use the following tips for a DIY approach.

In each room, place furniture so it feels open and inviting. In the living room, seating and tables can be configured into social and conversational areas, while placing an armchair in an empty bedroom nook will frame it as a cozy reading spot.

Never forget the impact of lighting. Bright lighting will make spaces seem larger, so turn on those lamps, and make sure your decor and artwork enhance their surroundings rather than distract from them.

 Depending on whether you need to add, subtract, or rearrange, staging shouldn’t cost very much at all, especially relative to how much of a boost it could give your home when it comes to bringing in buyers and helping your home sell quickly.

Amp up your curb appeal

Don’t neglect your home’s exterior. If buyers don’t like what they see on the outside, they may never go inside.

Ensure walkways are clear, the landscaping is neat and tidy, and everything is in good repair. This may require more substantial repairs like repainting or replacing siding, repairing loose shutters, and sealing those cracks in the driveway.

Or it could be as simple as mowing the lawn, raking the leaves and placing a few colorful annuals to make sure nothing looks bare or neglected.

Who Pays the Highest Property Taxes?

DAILY REAL ESTATE NEWS | THURSDAY, APRIL 28, 2016

The Cost of Owning Property

The average median property tax rate across the nation is 1.31 percent. That means a home owner with a home valued at $200,000, on average, pays an annual amount of $2,620 in property taxes, according to an analysis by CoreLogic’s data team.

Illinois has the highest median property tax rate at 2.67 percent. Hawaii, on the other hand, has the lowest at 0.31 percent.

“While higher median tax rates are seen primarily among states in the northeast, a notable exception is Texas, which has a median property tax rate of 2.17 percent,” CoreLogic reports. “Typically, the states with the highest property tax rates, with the exception of Illinois, have multiple levels of tax collection. Conversely, the majority of states with low median tax rates have a single level of collection at the county level. Other than Hawaii, the lowest median property tax rates are primarily in the Rocky Mountain region and southeastern states.”

CoreLogic calculated the median overall property tax rates nationally by state. Researchers took into account all taxing and collection entities. Take a look at the chart below to see how your state ranks.

Source CoreLogic Comparing the Real Cost of Owning Property

304 Useppa Island Just Sold

New neighbors are coming to Useppa Island. 304 Useppa Island, offering the Ultimate in Privacy and Spectacular Views, just sold!

Find Your Key to Paradise!

Flood Insurance Solution Takes Big Step Forward

Property owners who opt to purchase flood insurance in the private market rather than through the National Flood Insurance Program (NFIP) may do so under current rules, but they may be charged higher rates if they want to return to NFIP coverage.

But there's hope for a change: H.R. 2901, the "Flood Insurance Market Parity and Modernization Act," unanimously passed the U.S. House of Representatives Thursday. It now goes to the Senate for consideration. If approved by the Senate, it then needs President Obama's signature to become law.

The National Association of Realtors® (NAR) backs the bill, which was introduced by two Florida representatives.

"NAR is grateful to Congressmen Dennis Ross (R-Fla.) and Patrick Murphy (D-Fla.) for their leadership on this important issue," said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida.

"Realtors know that a robust National Flood Insurance Program is important for protecting consumers and ensuring property sales can move forward in 20,000 communities nationwide," says Salomone. "For many, the NFIP offers the only source of coverage that meets federally related mortgage requirements and protects properties in the 100 year floodplain."

But "consumers who wish to purchase insurance in the private market should have the freedom to do so," he adds. "This legislation will help foster a vibrant private flood insurance market while giving consumers the flexibility to return to the NFIP at a reasonable cost if they choose to."

Under current regulations, the NFIP requires homeowners to keep a minimum amount of flood insurance coverage to enjoy the program's lowest rates. If a homeowner leaves NFIP and opts for coverage from a private insurer, NFIP currently considers it a "break" in coverage, even if the private insurance product offers comparable coverage for the property. That "break" in coverage can then lead to higher rates for returning customers.

Sometimes consumers return to the NFIP when a private insurance product goes up in price or is no longer available. H.R. 2901 would change this by clarifying that private flood insurance that meets state law will be considered continuous coverage. If the bill becomes law, property owners could then move seamlessly between the NFIP and private insurance markets without a risk of arbitrary rate increases.

Earlier this year, NAR wrote to members of the House Financial Services Committee and asked them to support the bill, H.R. 2901. It later passed the committee by a unanimous vote, clearing the way for Thursday's vote on the House floor. 

NAR, along with members of the SmarterSafer coalition, also urged urge House Speaker Paul Ryan (R-Wis.) to bring the bill up for a vote.

NAR President Tom Salomone praised the bill's passage, calling it a step forward for reform of the broader flood insurance system.

Florida Realtors® April 29, 2016

506 Useppa Island Just Listed - Useppa Island Homes for Sale

Welcome to 506 Useppa Island.

Completely renovated and beautifully appointed 3 bedroom, 3 bath Villa.  A French door entry leads to soaring ceilings, gleaming hardwood floors, walls of windows and rich features throughout the 1,600 sq. ft.

Impressive water views for miles, with a dock at your door. View Property Details

Appointments include an updated kitchen with granite and stainless appliances, impact-resistant doors/windows, fireplace, luxurious baths and multiple decks for entertaining.