As you can see from the charts, showing activity fell sharply from April 2007 levels.  While not surprising, this is the first time we’ve been able to track showing effects directly after season.  It seems the more listings we have doesn’t equate to more showings.  It would be interesting to see how many showings we had when we had few listings.  I’d venture to say many listings had many showings each day, not less than 1 per week as it is now.

Sellers as you could imagine are quite frustrated by low showing activity.  I’ve spoken with Realtors across the county who essentailly tell a similiar story.  With a limited number of buyers, and high inventory, showing activity is down per listing.

Approximately 4% of all homes on the market are selling each month, so sellers must be proactive in pricing their home.  The best priced homes in each market segment are getting the showing, and the offers.  It’s not rocket science.

May 2007 Statistics:

Total Number of Showings February 2007 760
Average Number of Showings Before Selling 6.5
Average number of Showings During 1st Week of Listing .2
2nd Week of Listing .4
3rd Week of Listing .4
4th Week of Listing .2
5th Week of Listing .3
6th Week of Listing .3

 

April 2007 Statistics:

Total Number of Showings February 2007 889
Average Number of Showings Before Selling 6.3
Average number of Showings During 1st Week of Listing .2
2nd Week of Listing .3
3rd Week of Listing .3
4th Week of Listing .4
5th Week of Listing .2
6th Week of Listing .2

 

March 2007 Statistics:

Total Number of Showings February 2007 938
Average Number of Showings Before Selling 6.7
Average number of Showings During 1st Week of Listing .6
2nd Week of Listing .4
3rd Week of Listing .3
4th Week of Listing .3
5th Week of Listing .3
6th Week of Listing .3

 

February 2007 Statistics:

Total Number of Showings February 2007 962
Average Number of Showings Before Selling 5.5
Average number of Showings During 1st Week of Listing .4
2nd Week of Listing .2
3rd Week of Listing .3
4th Week of Listing .3
5th Week of Listing .2
6th Week of Listing .2

 

January 2007 Statistics:

Total Number of Showings December 2006 945
Average Number of Showings Before Selling 6.0
Average number of Showings During 1st Week of Listing .3
2nd Week of Listing .4
3rd Week of Listing .5
4th Week of Listing .3
5th Week of Listing .3
6th Week of Listing .5

Under a new plan to be unveiled during the June 12 session, Florida taxpayers will save $31.6 billion over the next 5 years.  This is the largest property tax cut in Florida history by far.  There are two parts to the tax relief, statutory and a constitutional amendment.

We have the details now.  First is a detailed letter from Ken Pruitt, President of the Senate and Marco Rubio, Speaker of the House of Representatives to the Florida Legislature.

Lee County looks to have a 7% statutory cut, while Collier County should receive a 9% cut, and Charlotte County will receive a 9.0% cut by statute.  See Goverment Tax Rollback Calculations.  The counties with the highest tax increases per capita over the last 5 years will be forced to cut the most.

We’ve even included the city government tax rollback calculations, and it’s no surprise that Naples and Cape Coral will be forced to cut taxes by 9%.  The cities with the highest per capita tax levies changes over the previous 5 years will be forced to cut the most.  Marco Island and Fort Myers will be forced to cut 7%, and Bonita Springs will be forced to cut 3%  Punta Gorda will face cuts of 5%.

A second part of the cut is that in addition to rolling back property taxes to 2006-2007 levels, special taxing districts and fiscally limited cities and counties will be required to make additional cuts of 3% .  And, there will be a cap on future property tax revenues based on the rate of personal income growth, and new construction to ensure that government cannot grow faster than personal income.

We’ve also included the Florida School Districts future rate cuts.  We’ve been told that even though schools will face a reduction in future property tax revenue, schools should not worry that their funding will be cut.  We presume that the State will fund any loss in tax revenues at the state level.  The plan specifically states that the state will hold schools harmless from these cuts.

Perhaps most importantly will be the $16 Billion tax relief protion of the package which will unlock the prison doors for many Florida homeowners who felt they could not afford to sell because their property taxes woul be too great once they replaced their home in Florida at the new rates not protected by Save our Homes.  “Save our Homes” is replaced with a new “Super Exemption”.  An estimated 73% of homesteaded properties will receive greater benefit under this new exemption.  The average savings of $1,300 in 2008-2009 will be an average 44% reduction.  The program works like this:

Level 1.  Homesteaded property will receive an exemption of 75% of the first $200,000 in value of a home, with a minimum exemption of $50,000 per homestead.

Level 2.  In addition to Level 1, homesteaded properties will obtain another 15% exemption for the next $300,000 in value.

For the minority of property owners who have greater benefits under the current “Save Our Homes” plan, the tax savings and assessment cap will be grandfathered in.

All other existing constitutional exemptions based on special circumstances, including those to disabled veterans, low income seniors, and agricultural lands will preserve their exemptions.

The Ellis Team at RE/MAX Reallty Group, SW Florida’s leading home sellers, announce today that their weekend open houses are now online.  The benefit is now consumers can find locations of our weekend open houses days before they hit the newspaper or radio show, and find out all pertinent details about the home and neighborhood online.

You can view photos, neighborhood demographics, school information, and much more on each of our open houses.  This week we’ve scheduled one open house in Cape Coral on Saturday.

Florida homeowners may be getting closer to receiving real property tax reform this year, as lawmakers have been steadily working on a deal to present during the June 12 special legislative session.  This would be welcome news to all Florida homeowners, and could help bring back the real estate market making affordability an option.

It would also open up many home sales by current Florida residents who feel trapped in their existing homes and financially unable to move because the simple move would tax them out of the opprotunity to improve their home needs.

Lee County Florida Sherrif Mike Scott requested a 16.5% budget increase, citing a dramatic increase in demand at the Lee County Jail and Justice Center, both of which have facility expansions set to open this year.

The county would expect to give him most or all of the request given the additional facility requirements, however the county is in limbo because of property tax reform in Tallahassee by the state legislature.  Counties accross the state are awaiting tax reform which could significantly restrict their budgets.

The Fort Myers News Press is reporting Bonita Springs property values shot up nearly 13 percent.  New construction added almost $410 million of $1.2 Billion dollar increase to taxable property to the city.

The rumors have been swirling all week that First Home Builders was closing it’s doors.  While this may not be true, what apparently is in the works is for First Home Builders to sell off assets in SW Florida it no longer intends to use.

Parent company Hovanian Enterprises, Inc is losing money, and expects a negative cash flow of between $175-$225 Million dollars this year.

In related news, we hear KB Homes has pulled out of the Cape Coral Florida market and will focus on selling in other SW Florida real estate markets.

Cape Coral property values fell by almost $1 Billion dollars, and this includes new construction which added about $1.6 billion of taxable property to the city.  Otherwise values fell more than $1 Billion dollars.  Entire SW Florida real estate numbers will be released soon.

In addition to being able to search the entire MLS in SW Florida for properties, we’ve added detailed property displays on out Topagent.com website.

We think consumers will like this detailed feature as it shows all available photos on the properties in one easy format.  It may take a minute to load as it is a large file, and we think consumers will appreciate it.

Client Detail with Addl Pics Report

Property Type  Residential    Statuses  Active, Active Contingent Listing Agent (459097) Sande L Ellis
Listings as of 05/30/07 at 12:54pm
Active 05/22/07 Listing # 200735481 24700 Sweet Gum Ct Bonita Springs, FL 34134-7942 Listing Price: $625,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area BN05 – pelica Subdivision Pelican Landing
Beds 4 Living Area 2537 Tax Data
Baths(FH) 3 (3 0) Price/Sq Ft 246.35
Waterfront No
Year Built 1992 Lot Sq Ft (approx) 22564 ((Tax Data))
PID 164725B40080A0060 Lot Acres (approx) 0.518




Directions  From Cypress Lake, turn R at Tamiami Trail. Turn R at Pelican Landing Pkwy. Turn L at Pennyroyal Dr. Turn R at Sweet Gum Ct.
Property Information  What a beauty! This 4 bedroom, 3 bathroom pool home in Pelican Landing offers lot’s of privacy with a big backyard, wooded views and gorgeous landscaping. From the brick paver driveway, tile roof, plantation shutters, fountain and arched entry flowing with bougainvillea – this home is a charming retreat. Perfect for entertaining with an outdoor kitchen that has a built-in-grill, refrigerator, sink and plenty of counter space for preparing meals; gorgeous pool and paver lanai. Great floorplan that features sliding glass doors opening out to lanai from the family room, living room and master bedroom. Spacious kitchen with center island, plant shelving and tile backsplash. So many upgrades and beautiful details – you have to make sure to come see this one!

Status Type Resale Property Zoning Rpd
Building # 0 Unit Floor 1
Total Floors 1 Den No
Furnished Unfurnished Ownership Desc. Single Family
Approx Total Area 4347 Lot Size- Frontage 92
Lot Size- Back 150 Lot Size- Left 175
Lot Size- Right 187 Pets Limits
Pet Comments See HOA docs Elevator None
Cable Available Yes Garage Attached
# Garage Spaces 2.00 Legal Unit N/A
Construction Concrete Block, Stucco Siding Parking Driveway, Paved Parking
Community Type Gated, Golf Course Amenities Beach Access, Community Room, Exercise Room, Tennis, Community Park
Cooling Ceiling Fans, Central Air Restrictions Architectural
Roof Tile Exterior Features Built-In Grill, Fruit Tree, Outdoor Kitchen, Sprinkler Auto
Irrigation Lake/Canal Security Alarm Monitored, Gated, Guard at Gate, Patrolled
Flooring Carpet, Tile, Wood Water Central
Waterfront Descrip. None Rear Exposure NW
Windows Single Hung, Sliding Sewer Central
Heat Central Electric Boat/Water Access None
View Landscaped Area, Preserve Kitchen Island, Pantry
Private Pool Yes Pool Description Below Ground, Heated Electric, Pool Bath, Screened
Interior Features Built-in Cabinets, Cable Prewire, Laundry Tub, Pantry, Smoke Detectors, Volume Ceiling, Window Coverings, Other/See Remarks Master Bath Descrip Dual Sinks, Jetted Tub, Separate Tub/Shower
Private Spa No Equip/Appliance Incl Auto Garage Door, Cooktop, Dishwasher, Disposal, Dryer, Microwave, Security System, Self Cleaning Oven, Smoke Detector, Wall Oven, Washer
Guest House No Num of Ceiling Fans 8
Dining Description Breakfast Bar, Breakfast Room, Formal Approval Info None
Possession At Closing Maintenance Includes Cable, Reserve, Security, Streel Lights, Street Maintenance
Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.