John R Wood Island Real Estate, Inc. Licensed Real Estate Company

WASHINGTON – May 8, 2012 – Despite slow job growth, Americans’ attitudes about homeownership, the economy and personal finances continue to improve, according to Fannie Mae’s April 2012 National Housing Survey.??The continued stabilization of consumer attitudes coupled with other positive trends should, according to Fannie Mae analysts, positively influence Americans’ decisions making about buying a home.

By Justin T. Hilley • April 26, 2012 • 9:53am

Pending home sales increased in March and are well above a year ago, according to the National Association of Realtors.

NAR’s pending home sales index, a forward-looking indicator based on contract signings, rose 4.1% to 101.4 in March from an upwardly revised 97.4 in February. It is 12.8% above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First-quarter sales closings were the highest first-quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said.

“The housing market has clearly turned the corner,” Yun added. “Rising sales are bringing down inventory and creating much more balanced conditions ... which means home prices will be rising in more areas as the year progresses.”

The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year of examination. read article online here . . .

Source:  HousingWire.com

Watch our February Market Recap Video HERE

Search all of available properties on Sanibel, Captiva and Fort Myers HERE

JRW Photo of the Day:  John R. Wood Island Real Estate listing at Paige Court, Captiva Island  -  Click HERE for details

John R Wood Island Real Estate Inc. is located at 1019 Periwinkle Way Sanibel, FL. 33957 239-472-2411

Pending-home sales in March hit their highest level since April 2010, spurring the return of real-estate bidding wars. 

Bargain prices in American real estate lure foreign buyers, and Florida continues to be the most popular destination, though other states are attracting more foreign interest as well.

More than half of international sales in 2011 – 58 percent – came from four states alone: Florida (31 percent), California (12 percent), Texas (9 percent), and Arizona (6 percent), according to National Association of Realtors® data.

Inman News recently identified the individual markets where foreign buyers make up the biggest share of homebuyers.

The 10 markets, ranked by highest share of foreign buyers, according to public records data, are:

   1.  Lakeland-Winter Haven, Fla.

2.    Cape Coral-Fort Myers, Fla.

3.  Orlando-Kissimmee-Sanford, Fla.

4.  North Point-Bradenton-Sarasota, Fla.

5.  Miami-Fort Lauderdale-Pompano Beach, Fla.

6.  Phoenix-Mesa-Glendale, Ariz.

7.  New York County, N.Y. (Manhattan)

8.  Honolulu, Hawaii.

9.  Tampa-St. Petersburg-Clearwater, Fla.

10.   Las Vegas-Paradise, Nev.

Source: “10 Hot Spots for Global Homebuyers,” Inman News (March 2012)

WASHINGTON – April 16, 2012 – Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery.

Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. Open houses are drawing crowds. A wave of foreclosures is leading investors to grab bargain-priced homes.

And many people seem to have concluded that prices won’t drop much further. In some areas, prices have begun to tick up.

Interviews with more than two dozen potential buyers, sellers, brokers, Realtors and economists suggest that confidence is up and that sales will move slowly but steadily higher. read article online  . . .

Sanibel Island Real Estate

U.S. home prices rose slightly in February and March in some major metro areas, according to CoreLogic and Trulia.  Price gains have occurred in many hard-hit areas, such as Miami and Phoenix. 

Some of the cities with the sharpest home price gains and losses over the past year, according to Trulia: Best metro areas year-over-year change

1. Cape Coral-Fort Myers, Fla.14.8% :

2. Miami: 14.1%

3. Phoenix: 13.2%

4. Pittsburgh: 9.2%

5. Little Rock, Ark.:  6.7%

6. Orlando: 6.3%

7. North Port-Bradenton-Sarasota, Fla.: 6.2%

8. Palm Bay-Melbourne-Titusville, Fla.: 6.1%

9. West Palm Beach, Fla.: 5.8%

10. Warren-Troy-Farmington Hills, Mich.: 5.6%

Worst metro areas year-over-year change -Tacoma, Wash.: -11.9% Seattle: -9.1% Sacramento, Calif.: -8.3% Las Vegas: -7.7% Wilmington, Del.: -7.7% Columbia, S.C.: -7.3% Cleveland: -6.9% Fresno, Calif.: -6.8% Milwaukee: -6.7% Allentown, Pa.: -6.7%

Source:  Trulia.com

Watch our February Market Recap Video HERE

JRW Photo of the Day:  John R. Wood Island Real Estate listing on Joewood Dr -  Click HERE for details

John R Wood Island Real Estate Inc. is located at 1019 Periwinkle Way Sanibel, FL. 33957 239-472-2411