Home Buyer Demand will be Strong for Years to Come

There has been a lot written about Millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that Millennials are a “Renter-Generation.”

And while this might be true for some Millennials, more and more research has surfaced that shows for the vast majority, owning a home is a major part of their American Dream!

New research shows that 66% of Millennials who currently rent are determined to buy a home! Seventy-three percent of those surveyed by Pulsenomics plan to buy a home in the next five years, with 40% planning to do so within the next two years!

“Millennials want to own a home as much as prior generations,” Ali Wolf, Director of Economic Research at Meyers Research says. “We saw millennial shoppers scooping up homes in 2018—and 2019 will be no different.”

Bottom LineAre you one of the millions of renters who are ready and willing to buy a home? Meet with a local real estate professional who can help determine your ability to buy now!

Keeping Current Matters April 10, 2019

Home Values - Appreciation Stabilizes

The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.

In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:

“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey.”

The thinking that home appreciation has bottomed-out was also confirmed in two additional housing reports recently released:

CoreLogic Home Price Index – The analysts at CoreLogic increased their projection for home appreciation for the next twelve months to 4.7% as compared to the 4.6% they projected in their previous report.

The Home Price Expectation Survey – In the 2019 first quarter survey, the nationwide panel of over one hundred economists, real estate experts, and investment & market strategists increased their projection for home value growth in 2019 to 4.3% compared to the 3.8% increase they had projected in the fourth quarter of 2018.

Bottom Line
Agents working the business every day, one of the premier data companies in the real estate space, and one hundred housing experts all agree: home price appreciation has ended its decline and looks to be stabilizing… and may even accelerate.

Keeping Current Matters April, 2019

New Price in Paradise - 320 Useppa Island

High on a ridge and boasting a 270-degree view of blue sky and sparkling water, spanning east to west for both sunrise and sunset. Beautifully landscaped, with a fountain at the front entry, this home literally sparkles in the sun. Stunning interior and over 4,000 SF on three levels with multiple terraces and a water view from every room. Perfect for boaters, the industrial strength dock has a 24,000-pound lift in a slip that can accommodate up to a 50-foot watercraft.

Now offered for $1,900,000

Property Details

Warm & Welcoming - 130B Useppa Island

This special Marina Villa overlooks the Useppa Marina and Pine Island Sound. Situated on one of the higher elevations, this home is central to the social and boating life of the community. Rebuilt frame-out after 2005, this 3-story, 3-bedroom, 3.5-bath home features quality finishes throughout over 1,800 SF.  Keep your vessel in a private slip with a 10000 lb lift. 

Offered for $690,000

Property Details

More to Enjoy - Amenities on Useppa Island

Just in time for all to enjoy, beautifully resurfaced Pool Deck and Patio at the Collier Inn, along with a casual bar for lounging on the dock.

And, in case you were wondering...the Weather is Fantastic! 

Big Water Views - 320 Useppa Island

Big Water Views - This is What Dreams are Made of

4 Bedroom  3.5 Bath  Over 4,000 SF  $2.1M
High on a ridge, spectacular 270 degree views, open living design on the main floor that is extended outside with large lanai and a 2-bedroom guest suite/private deck at ground level. For the boater, there is an industrial strength dock with a lift for up to a 50’ watercraft…beautiful design and performance. Property Details

Adjacent Lot Now Available - 319 Useppa Island $350,000

Property Details

LIVING ON A SANDBAR OF HISTORY

The preservation of human history and the environment that shaped it is a fascination to most people. Proof of that is found in the dedication of many volunteers and a few professionals to building and maintaining museums, even for the smallest of communities. Useppa is certainly one of the smallest, with our 100 acre, 1 ¼ mile long island occupied by just 115 homes, a club, and the Barbara Sumwalt Museum of the Useppa Island Historical Society.

Created by passionate residents and a supportive island management, the museum harbors 10,000 years of history. Open the door and enter a panoply of those years, from a dusty hill with a fresh water spring, miles from the Gulf of Mexico, to the founding of the modern day, water wrapped community in Pine Island Sound. Through the intervening millennia’s, Useppa was home to ancient animals and peoples, Calusa, Old World explorers, Cubans, Seminole, tax collectors, US infantry and Navy forces, CIA, real estate developers, fishing fanatics, benefactors and rogues.

History is a bonding compound for people of the present, and Useppa is no exception. Our museum is a gathering place: to celebrate, experience, learn and share. Every season we are treated to several up close and personal experiences, with authors, photographers, entertainers and artists.

Just a sample of recent events are authors Craig Pittman “Oh, Florida!”; Maritime author Robert Macomber, “The Honor Series,” Doc Anna, Swamp Doctor; “The Florida Grand Canyon,” a photo exhibit “Everglades: America’s Wetland,” with conservation photographer Mac Stone, co-sponsored with The Everglades Foundation.

Our Historical Society is able to bring the broad range of art forms to the residents and members of Useppa Island due to the efforts of director Rona Stage. She networks with similar small museum directors and taps the best venues from the artistry of the Florida Humanities Council. Never will you find so much to offer, in such a small and personal place. 

Except on Useppa Island.

Southwest Florida national housing news continues to report the rapidly escalating prices of waterfront homes. The Useppa People have the wise alternative offering tremendous waterfront value. 

Priced from $529,000, our private island inventory offers fee simple Townhouse style attached Villas that offer the best value for waterfront living. Boasting BIG views across Pine Island Sound, the ICW or Charlotte Harbor, with free dockage for boats to 24 feet. Here, you’re not on a canal or back bay mangrove.

Homes on Useppa Island
Useppa Island homes sparkle in the sun with architectural covenants that require Old Florida design, creating a metal-roofed village with style and charm. Features vary from home to home, but you’ll find extensive updates and renovations. Hardwood, travertine, granite, stainless, impact glass, storm shutters and other features of new homes are largely available. Three bedrooms are typical for the larger homes, while smaller homes feature 2 bedrooms. Soaring ceilings, custom cabinetry, chiseled stone and other fine features are unique to many, while most are furnished and ready for immediate occupancy

Access to every home is a pure delight. Meander walking or cart paths, the historic Pink Promenade that extends the length of Useppa, or from your dock. There are no cars and no stop lights, just turtle crossings. While air traffic is limited to the feathered kind, there is the occasional sea plane or helicopter.

Island Amenities
Enjoy the island amenities of the Useppa Island Club. Fine dining, tennis, bocce, pool and croquet are common pursuits, while water sports are a favorite. Choose sailing with the Useppa Yacht Club in your 15-foot Sandpiper, fish the flats offshore, or right from your dock. Zip to mainland services in a 15-minute boat ride, and experience zero encounters with stressful traffic.

Your Neighbors

Best of all, settle in to a welcoming community where you will know your neighbors; where your children or grandchildren will grow up with the other lucky kids that know the wonder and freedom of this unique and beautiful island. There is nothing that compares.

Make your escape to Useppa Island.
Paradise Without A Passport!

Homes More Affordable Today Than 1985-2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.

Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost double that number, at 8.92%. When comparing affordability of home ownership over the decades, we must also realize that incomes have increased.

This is why most indexes use the percentage of median income required to make monthly mortgage payments on a typical home as the point of comparison.

Zillow recently released a report comparing home affordability over the decades using this formula. The report revealed that, though homes are less affordable this year than last year, they are more affordable today (17.1%) than they were between 1985-2000 (21%). Additionally, homes are more affordable now than at the peak of the housing bubble in 2006 (25.4%). Here is a chart of these findings:

What will happen when mortgage interest rates rise?

Most experts think that the mortgage interest rate will increase to about 5% by year’s end. How will that impact affordability? Zillow also covered this in their report:

Rates would need to approach 6% before homes became less affordable than they had been historically.

Bottom Line
Though homes are less affordable today than they were last year, they are still a great purchase while interest rates are below the 6% mark.

Keeping Current Matters July 5, 2018

Peaceful Privacy - Just Listed. 522 Useppa Island

Light and bright updated living spaces, serene water views and over 1,700 SF.  $535,000

Property Details

The comfortable floor plan features a master on the main level, along with an updated kitchen, dining and living area, with water view beyond. An open kitchen offers a center island/breakfast bar and granite. A guest bedroom and bath are on the second level, with spacious waterfront deck for reading or relaxing. 

Community docks with free dockage for a 24 boat (or less) are 50 feet away. Amenities on the one-mile long island are just a stroll away to the pool, tennis, croquet and bocce courts, all adjacent to the Collier Inn. Bike and walking paths weave through palms and exotic foliage that can be found only on Historic Useppa Island, where there are no cars, stop signs or strip malls — just the elegant privacy of a private island set in the center of Pine Island Sound, just south of Charlotte Harbor and Boca Grande Pass, and minutes from the mainland.

Unsurpassed Views - 215 Useppa Island

High atop a ridge with forever views, enjoy generous living spaces, expansive outdoor entertaining areas, private dock with lift and private beach.  Finished and furnished beautifully throughout 4,756 square feet, with 4 bedrooms, 4 baths, office, impressive kitchen with service bar, island and stainless Wolf appliances.

Enjoy a large screened lanai and numerous decks, plus a hot tub, with plenty of storage for water toys.

$2,195,000
Property Details

EXPERIENCE USEPPA ISLAND FLORIDA

Tropical Private Island Living

Make Your ESCAPE!

UNBEATABLE OPPORTUNITY - STUNNING WATERFRONT UNDER $500,000

JUST REDUCED

517 Useppa Island

3 Bedroom, 2 Bath Townhouse style villa with magnificent water views, over 1,500 square feet and a dock at your door.

Beautifully updated throughout and offered Furnished. $499,000

Experience Private Island living with no cars, no crowds and no high rises.

THE AFFORDABLE HIDDEN GEM

ON FLORIDA’S SOUTHWEST COAST 

Florida Realtors® News recently published their list of the 2017 major factors affecting our 2018 Florida Real Estate Market. These included low inventory of homes, and the resultant escalation of prices to levels just below the peak of the real estate bubble. 

The upcoming run-up in Florida values, resulting from the Tax Reform bill, along with the crushing winter weather to the north, may make those issues pale in comparison. A lack of state income and inheritance taxes will likely drive people from frigid high-tax states to the sunny shores of Florida. Unfortunately, they stand to encounter a short supply and stiff pricing if they are dreaming about waterfront living. That is…until they discover Useppa.

Useppa Island is the pre-eminent Florida value for waterfront, boating and gulf access properties.  The values in this tiny community of 115 homes, all within a Private Club that encompasses the entire island, are still at the pre-bubble pricing level. A consequence of competing in the arena of Big Destination Names, this Private Island gem has no commercial marketing engine, Visitor and Convention Bureau or Chamber of Commerce. Neither will you find choking traffic, strip malls or high rises that block the senses, views and tropical breezes.  Useppa is the Undiscovered Destination, that Secret Place where you can capture your dreams.

Opportunities on Useppa include a buyer friendly inventory of waterfront homes, with Townhouse style attached villas from $525,000 to $875,000, and single family homes from $1,050,000 to $3,500,000, many furnished and all with dockage available. 

Useppa Island is the Big Secret-- a private island exotically tropical and modestly priced; the glistening location just south of Boca Grande Pass. A quick 15-minute boat ride to the mainland, don’t miss your chance to Find Your Key to Paradise.

Make Your Escape.  See all mls Homes Available on Useppa Island
Paradise without a Passport.

TROPICAL HIDEAWAY - 329 USEPPA ISLAND

Shutters Cottage - Privacy and superior finishes throughout 3,400 sq. ft. - $1,050,000

Custom designed to maximize the view from atop Useppa’s historic Pink Path, giving the third floor living area a view over foliage and mature trees, across the ICW and north to Charlotte Harbor. With 4 bedrooms and 4.5 baths, this spacious home welcomes family and friends.

Property Details

Perfect for entertaining indoors and out, light and bright living spaces offer soaring ceilings and gleaming hardwood floors, great room and lower level family room with wet bar and fireplace.

Make your escape to Private Island living with on-island amenities, recreation and Old Florida appeal.

Welcome to Useppa Island Living - 506 Useppa Island Just Sold

506 Useppa Island Just Sold

Beautifully renovated and includes an extra touch of architectural interest.

Mike and Annie Hyder have arrived to enjoy their new Useppa home from the Keswick, VA area.  This couple got an extra special welcome from September's Hurricane Irma.

Needless to say, they are a “go for it couple” and we are thrilled to welcome them to Useppa Living!!  Hello Hyder family and goodbye Irma.