Home Equity Rebounds

How Much Equity Do You Have In Your Home?  It May Be More Than You Think!

According to the latest market reports, more than 250,000 properties regained equity during the third quarter of last year.  The even better news is that 92 percent of all properties with a mortgage are now in a positive equity position.

So what does that mean for homeowners?  Ultimately, price appreciation means borrowers have more equity in their homes.  Most Americans single largest source of wealth is the equity in their homes.  Over the next year, home prices are expected to increase at least 5 percent nationwide.  The result will be an even larger increase in home equity values for most homeowners.

Unfortunately, according to a recent study by Fannie Mae, many homeowners don’t even realize their home has regained most if not all the equity they lost during the downturn in the housing market.  The report shows that almost a quarter of Americans still think they are upside down on their homes.  In reality, only 8% of homeowners are upside down.  Additionally, only 37 percent of Americans think they have “significant equity” or more than 20%, when in reality, 74% do!

Since people don’t realize they have quite a bit of home equity to work with, they are missing a great opportunity to move into a home that will improve their lifestyle.  Whether a homeowner is looking to downsize or move into a larger home, more equity puts current homeowners in a great position to make a move.

Fannie Mae’s take:

“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”

Bottom Line

If you are not sure how much equity you have in your home, contact a real estate agent to get a sense of what your home is worth.  You may be surprised how much equity you have in your home.

Are you considering selling your home in Naples? Or perhaps Bonita Springs?  Call me today for a FREE market analysis.

February 18, 2016 Posted by Matt

You need to determine the green speed before you head out to the course.  To do so, place some balls in the middle of the putting green and putt toward a spot on the edge of the green and fringe.  Your goal is to have the ball stop as close to the edge without going up on the fringe.  This type of practice is a great way to develop your feel for the speed of the greens and help you gauge distance better.  If you are able to better judge the green speed before you go on the course, you will be hitting your first putts much closer to the hole and avoid three putting greens.

Bonita Springs January Market Update

Real estate activity in the Bonita Springs and Estero area started the year steady as expected.  According to the latest report issued by the Bonita Springs-Estero Association of Realtors (B.E.A.R), active listings increased 9 percent when compared to the same time last year.  The average list price also increased year-over-year.  While pending sales saw a modest 1.5 percent increase, closed sales fell 23 percent.

January Highlights Year-Over-Year:

• Active Listings increased 9 percent from 876 to 953 units
• Average Days on Market decreased 2 percent from 112 days to 110 days
• Pending Sales increased 1.5 percent from 250 units to 254 units
• Closed Sales decreased 23 percent from 159 units to 123 units
• Percentage of List Price increased slightly from 95.08 percent up to 95.26 percent
• Average List Price increased 12.5 percent from $517,000 up to $581,000

BEAR Market Report January 2016

Are you thinking of buying a home in Bonita Springs? Or perhaps Naples? Let me be your guide.

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February 13, 2016 Posted by Matt

You do not need to swing harder on long shots than you do on short shots.  A common mistake that many amateur golfers make is to think that they must swing harder when they have a longer shot.  You should use the same tempo and rhythm on all of your shots.  On longer shots, the longer shaft of the club will create a wider arc which will automatically increase your swing speed.  Use a light  grip and swing the club naturally, and you will get all the distance you need without trying to muscle the ball.

February 11, 2016 Posted by Matt

Just Listed – Beautiful Lely Resort Home

6485 Caldecott Dr. – $529,900

3 Beds + Den and 2 full baths and 2 half baths

Is it new?! It may as well be, one look tells the story. Brilliant Tivoli Floor Plan with Outdoor Kitchen set the scene. SW rear exposure offers sunlight all day every day on the lanai. This home truly shows like a model, spotlessly clean and very well appointed. Some of the features include granite counters, stainless appliances, tile on the diagonal, soaring tray ceilings, upgraded cabinets and much more. It all comes together perfectly with the great room design and lanai lay out. It flows nicely with no wasted space and filled with natural light. This home is located in Caldecott at Lely Resort, one of the most unique communities in Naples and no CDD in this section of Lely! The lifestyle at Lely is second to none given what it has to offer. At Lely you’ll find The Player’s Club, 3 championship golf courses and even a private dog park! There is no golf membership required, so you can pay as you play. The Player’s Club has something for everyone, formal and casual dining, exercise facilities, full spa, har-tru tennis courts, multiple pools, meeting rooms, private theater and more. Put this one on your list, you’ll be very glad you did.

For a private tour of this beautiful Lely Resort home or other properties in Lely Resort, call Matt Klinowski at 239-370-0892.

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February 11, 2016 Posted by Matt

Putting under pressure can be stressful.  There is a reason they say “drive for show or putt for dough”!  When you are playing in a tournament or important match, it is normal to feel anxiety.  The downside is anxiety may cause you to hit your putts to the right.  When you are nervous, your muscles tense, and you tend to not release the putter during the stroke.  The blade of the putter comes into the ball wide open and you push the ball to the right of the hole.  You may have a tendency to grip the putter too tight when you are putting under pressure.  Concentrate on holding the putter with a light grip.  Make a few practice strokes to feel the toe of the putter open then close.  Breathe, relax your muscles, and trust your stroke.

February 7, 2016 Posted by Matt

The American Dream of homeownership is alive and well according to the National Association of Realtors. Research shows individuals of all income levels believe home ownership is part of the American Dream.  The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper –The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study: 

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You’re paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.” 

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income…On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially.

Are you considering buying a home or condo in Naples Florida? Let me be your guide.

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February 7, 2016 Posted by Matt

Carrara at Talis Park is the newest neighborhood in Talis Park Country Club.  This exclusive golf community now includes new construction luxury condos in addition to custom built single family homes.  There will be 90 penthouse condominiums in the newly developed Carrara neighborhood with a total of 15 mid-rise buildings overlooking the Greg Norman and Pete Dye designed golf course.  More than 80 percent of the residences in the buildings released for sale have already sold.  Condo prices start at $720,000.

Carrara at Talis Park Highlights: 

• Penthouse residences. Two units per floor.
• 15 buildings in total. 6 units per building.
• 2,930 to 2,950 sqft. 3 BR + Library. 3.5 BA.

Helpful Links

• Carrara at Talis Park Floor Plans
• Carrara at Talis Park Site Plan

Residents of Carrara at Talis Park will have access to a separate hospitality area in addition to the newly built Sports Complex and Vyne House.

Talis Park is a luxury golf community located in north Naples, Florida.  The development, previously known as Tuscany Reserve, has become a first class community with a wide variety of amenities over the past 3 years.

All residents must purchase either a golf or social membership.  There is a limit of 350 golf memberships available.  The initiation fee for a golf membership is $90,000 with annual dues of $15,370.

Read more about Talis Park….

Are you considering purchasing a home or condo in Talis Park?  Call Matt to schedule a private showing of this or other Naples golf communities.

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February 5, 2016 Posted by Matt

If you are inconsistent with your chip shots, change your technique and chip like you putt.  Use an eight iron and grip the club like you would your putter.  Stand closer to the ball so  you are more upright in your stance.  This will allow the club to move straight back and forward through the swing.  Stroke the ball as you would a putt.  The heel of the club will be slightly off the ground.  With a light grip, smoothly take the club back and through the swing and allow the loft of the club get the ball into the air.  You should vary the club you are using based on the distance between you and the pin.  If there is more green to work with, use a longer club such as a seven or six iron.  If you chip like you putt you will become more consistent in your short game and know strokes off your score.

February 3, 2016 Posted by Matt

Lowest Priced Home in Wyndemere

199 Edgemere Way S. – $464,500

Spacious 3 bedroom, 3 bathroom single family home in Wyndemere Country Club located in Naples Florida!  Light and bright with a southern rear exposure with a large lanai featuring a pool and spa.  A beautiful quite park is to the east and there is only one neighbor to the west.  This home has only had 2 owners.  Updated kitchen, baths with glass showers, tile and hardwood flooring throughout, new fixtures and ceiling fans, fresh landscaping, everything! Over-sized garage, expanded driveway, 1/3 an acre lot, brilliant floor plan and a lanai that’s almost as big as the house.  It’s the best value in Wyndemere!  View property details….

Are you considering purchasing a home in Wyndemere Country Club?  Call Matt to schedule a private showing of this Wyndemere golf home or other properties in this community.

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