The number of single-family homes sold with the assistance of a Realtor in Lee County in June soared to a record high of 1,705 — more than twice the 719 recorded a year earlier, according to statistics released today by the Florida Association of Realtors.

June’s number was well above the 1,417 sold in May and the previous record of 1,468 in April.

Meanwhile, the median price of homes sold in June dropped to $87,900, off 49 percent from June 2008’s $172,400 and down less than 1 percent from May’s $88,500.

Statewide, the number of sales was 15,850, up 28 percent from 12,339 a year earlier and up from 13,921 in May. The median statewide price was $148,000, down 28 percent from $205,300 a year earlier and up from $144,400 in May.

In a separate report also released today, the National Association of Realtors announced that sales of previously occupied homes rose for the third month in a row in June.

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Florida’s existing home sales rose in June – the 10th consecutive month that sales activity showed gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). Statewide sales in June also increased over the previous month’s sales level in both the existing home and existing condominium markets. And, for the second month in a row, the statewide median sales price for existing homes was higher than the previous month’s statewide median.

Existing home sales rose 28 percent last month with a total of 15,850 homes sold statewide compared to 12,339 homes sold in June 2008, according to FAR. Statewide existing home sales in June increased 13.8 percent over May’s statewide activity.

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Downing-Frye Realty Inc. has been ranked 85th in the nation among all real estate companies based on closed sales volume, according to a report published in the July 2009 issue of Realtor Magazine.

This is the fifth consecutive year in which Downing-Frye has earned recognition on the “Top 100 Companies” list. The Naples-based firm reported total sales of more than $1.03 billion during 2008 with a total of 1,968 transaction sides.

Downing-Frye Realty was among just six real estate agencies in the state of Florida to be included in the 2008 Top Real Estate Companies list by Realtor Magazine.

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A draft Marco Island city budget for 2010 calls for an estimated 26 percent increase in the tax rate, but with declining home values, the bottom line might not be that bad for property owners.

The tax rate proposed by City Manager Steve Thompson in the preliminary budget is $1.75 per $1,000 of taxable property value.

The 2009 tax rate was $1.39 per $1,000 of property value. The rate proposed by Thompson equates to an increase of about 26 percent.

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COLLIER COUNTY – Some good news from the local housing market. The Naples Area Board of Realtors (NABOR) says there’s been a steady increase in the number of homes sold and they expect that trend to continue.

Last year, the average home in the naples area took nearly 200 days to sell. Now, now homes are selling 19% faster at 161 days on the market.
Realtors say its a positive sign that we’re heading towards a recovery.

“We’ve seen a 46% increase in single family home sales and a 26% increase in condo sales just in the last quarter,” says President of NABOR, Brett Brown.

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The Marco Island Area Association of Realtors wants homebuyers to know the island’s real estate industry is improving.

The association’s president and executive director visited Noontime Rotary of Marco Island on July 9 and spoke about recently released home value numbers.

Neal hopes to change people’s perceptions about the island.

“We are finally getting close to the bottom for us,” said Charlie Neal, president of the association representing Realtors. “We are seeing a lot of activity on the island and that’s a good sign.”

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While the national housing bust has devastated property values, it has also created some outstanding bargain opportunities for would-be home buyers–if you know where to look.

During the first half of the decade, easy credit and speculative fervor sent home prices in certain states–Florida,California,Nevada–scorching to phenomenal heights. But nearly three years into a real estate crash that’s dragged home prices down 32 percent from their 2006 peaks, some of these once wildly overpriced markets present today’s real estate shoppers with perhaps their best shot at long-term value.

“What we have seen is that those markets that became significantly overvalued [during the housing boom] are right now very undervalued,” saysJeannine Cataldi, senior economist and manager ofIHS Global Insight’sRegional Real EstateService.

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Undeveloped property being sold at an up to 90 percent discount

That’s what the market looks like these days for undeveloped property in Southwest Florida – especially if it’s already zoned for development.

So far, it’s mainly investors on the buying end as a glut of unsold or foreclosed-on houses keeps down home prices, said Fort Myers-based real estate broker Randy Thibaut of Land Solutions. An actual builder typically can’t compete with existing inventory.

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Naples area home resales climbed upward yet again in June, according to a report released Friday by the Naples Area Board of Realtors.

Overall pending sales in the greater Naples area, which includes the Naples beach area, North Naples, central Naples, Immokalee and Ave Maria, increased 69 percent in the 12 months ending June 2009 compared to the 12 months ending June 2008.

The report tracks listings and sales in Collier County, excluding Marco Island.

The number of closed sales in the past year increased by 40 percent, with over 5,500 homes sold since June of last year. That’s compared to 4,067 homes sold in the 12 months leading up to June 2008.

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The National Association of Home Builders says its housing market index climbed in July to the highest level in nearly a year, as low interest rates and other incentives helped builders woo homebuyers.

The Washington-based trade association said Thursday the index rose two points to 17, its highest reading since it was 17 in September.

Bob Knight, a co-owner of Paul Homes in Cape Coral, said he’s optimistic about the local homebuilding climate.

“The land value is very attractive and the construction cost is as low as I’ve seen it for 10 years,” he said.

“More Europeans are taking advantage of the exchange rate. I do believe once the summer’s over we’ll see a lot of people coming down here who had good behavior and saved their money and did not get into trouble” in the recent financial crisis.

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