New home sales drop in June

New home real estate sales lower in  June, falling to a seasonally adjusted yearly rate of 350, 000, the actual Census Bureau and Department of Housing and Urban Development reported jointly Saturday. Economists had anticipated sales to be up slightly in the preliminary sales document in May. May sales were revised upward approximately 382, 000 in the originally reported 369, 000.
New home sales lower
Both average and median price of a new home fell in June versus May. The median cost was also down from June 2011 while the average price had been up slightly.

June Sales Drop - Home Prices Highest since 2008

Fort Myers and Cape Coral Homes

The National Association of Realtors reported that the median price of an existing single family home rose in June. This is the highest level since September 2008. The gain is the 5th month in a row that prices have gained.

The median price is up 7.9 percent from June 2011. Sales have dropped for the forth time in the past five months. Existing home sales dropped to 4.37 in June 2012 to the lowest level since October 2011.  A sales increase had been expected.

 

Banks Win!

Foreclosure


The foreclosure settlement obviously only benefited the banking industry.


Banking companies are increasingly placing homes with unpaid mortgages on a countdown that might deliver a great deal of new in foreclosure properties onto this market by early 2013, potentially depressing  residence values.


June provided the modern evidence of this specific trend, as many U. S. homes entered the actual foreclosure process for the very first time increased on a annual basis for the second month in a row, foreclosure checklist firm RealtyTrac Inc. mentioned Thursday.


California especially saw a major spike in foreclosure starts, or homes placed on the foreclosure path for the very first time. They increased 16 percent versus June last year, the firm mentioned.


The increase in  foreclosure starts ,happens as banks replace time lost last year as the mortgage-lending industry grappled with allegations it had processed real estate foreclosures without verifying documents.


The nation’s biggest loan officers reached a $25 billion dollars settlement in March with state officers. And that’s cleared the way in which  banks can handle their backlog of unpaid mortgages.  The banks win.

Estero Florida is Growing!

Estero Homes and Condos“It’s a nice brand new community, the Preserve at Corckscrew” Cameratta said. “It’s going to be cost-sensitive with fees. It does not have a golf course so that will help with the fees. The amenities are going to be gorgeous. We have an 8,000-square-foot clubhouse building from the first phase and anticipated completion January or February of following year. We’ll have amenities concurrently with people moving in. ”

Search Estero real estate homes and condos.

The Preserve at Corkscrew may have up to 441 single-family homes on 510 massive areas of land off Corkscrew Rd just two miles east associated with I-75.

Lennar and Pulte will be the two builders in the build at Corkscrew. Each developer is able to offer executive, manor and estate homes ranging in size from 1, 677 square legs to 3, 400 square feet and in price on the low $200, 000s to in excess of $500, 000.

“Estero florida is an excellent area, ” said Matt Deveraux, director of sales and marketing with regard to Lennar. “It’s close to the particular airport, Coconut Point, Naples, Bonita and so much. It’s like Estero may be the heart of Southwest Florida. ”

Deveraux said the Preserve at Corkscrew will target lots of people from families to retirees. He said one of the most beneficial features is that almost every home is going to be on a preserve, lake as well as both.

Josh Graeve, general product sales manager of Pulte Homes, agrees that location can be a top selling point for homes from the Preserve at Corkscrew.

“This Estero spot is exceptional, ” he explained. “It is so convenient on the shopping of Miromar Outlets, restaurants at Coconut Point and Gulf of Mexico Coast Town Center. Also, entertainment associated with Germain Arena, access to the Interstate, the airport and stunning beaches. You simply cannot become more centrally located for everything  southwest Florida offers than this spot. ”

Graeve said another benefit is being in a new community is innovative amenities.

“The homes and floor plans are new and exceptionally laid out and are able to be built to the customer’s personalized choices and preferences, ” Graeve explained.

Cameratta is excited to notice things finally happening on his or her property in Estero.

“There haven’t been too many new communities, ” Cameratta explained. “There hasn’t been much started on the ground up in quite a while. It’s real exciting. The Estero market has been very successful for years.... It’s a great location. ”