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August 16, 2020

Posted:
Market Updates:
  • Fannie Mae survey confirms: It’s a seller’s market: Click Here
  • Fed inflation plan could end rock-bottom mortgage rates: Click Here
  • Driven by low inventory, median U.S. home price reaches record high in July: Click Here
  • August Poised for 2020 Home buying Peak: Click Here
  • Mortgage Rates Drop to Record Low – 8th Time this Year: Click Here

Now You Know:

  • Florida No. 1 for foreign homebuying for 12th straight year: Click Here
  • Federal Reserve signals possible end to record low rates: Click Here
  • Fla. Back-To-School Tax ‘Holiday’ Offers Breaks on Computers: Click Here
  • Emerging From COVID-19: Click Here
  • SBA To Open PPP Loan Forgiveness Portal On Aug. 10: Click Here
  • Fed Change Shows Long-Term Commitment to Low Interest Rates: Click Here
  • Northerners Sick of Lock-Down Drive S. Fla. Rental Boost: Click Here
  • Forbearance rate falls to the lowest level since April: Click Here
  • Google, ADT Partnering on Home Security Products: Click Here
  • New Record Low for 30-Year Mortgage Rate: 2.88%: Click Here
  • As Home Prices Rise, More Owners Become ‘Equity Rich’: Click Here
  • 1.8M jobs added in July, unemployment falls to 10.2% as some states halt reopening, others throttle back: Click Here


Legislative Updates:

  • Fla. Eviction Moratorium Only Protects COVID-Impacted Renters: Click Here
  • Fla. Property Insurers Requested a Large Rate Hike: Click Here


Local Updates:

  • Bonita Springs property tax rate might stay the same: Click Here
  • New name: Bonita Springs chamber is now SWFL Inc: Click Here
  • New restaurant, waterpark planned at Ritz-Carlton Golf Resort in Naples: Click Here
  • Passport offers more ways to pay to park in Fort Myers Beach: Click Here
  • Bonita Springs City Council approves 803 new housing units, 202-room hotel near Estero Bay: Click Here
  • Sears building coming down: Click Here
  • LEE COMMISSIONERS APPROVE NEW ROUND OF LEECARES ASSISTANCE PROGRAMS
    The Lee Board of County Commissioners on Tuesday authorized the next round of LeeCARES programs to assist individuals, families and businesses impacted by the COVID-19 pandemic.
    The Board approved plans to launch Round 2 of LeeCares Assistance for individuals and families providing for broader eligibility and increased award amounts up to $3,000 per household. Grant recipients from earlier rounds of assistance are also eligible for Round 2 funding. Round 1 closes to applications on Aug. 7 and Round 2 opens Aug. 17. The new plan also enhances the Business Rehire program by increasing grant sizes by up to $8,000 awarded to each full-time equivalent rehire according to wages paid; doubles the maximum scholarship amount allowed for each child that qualifies for childcare expenses to $2,500 in order to extend the program through the remainder of  2020; distributes personal protective equipment to county residents in partnership with the municipalities; and enhances CARES Act funding by $1.8 million for the existing Rapid Re-housing Program administered by the county’s Department of Human & Veteran Services. Visit LeeFLcares.com for additional information about all available programs.
  • PULTE HOMES ANNOUNCES FLOOR PLANS FOR MANATEE COVE
    Pulte Homes has announced the selection of one- and two-story home designs it will offer at Manatee Cove, a new 75-acre Naples community of 164 single family homes located off U.S. 41 and Manatee Road. With two bedrooms and a separate flex room, the 1,655 square-foot Hallmark model offers a deluxe kitchen and flow-through layout. The model features a neutral color scheme and woven terracotta textures. Offering more than 2,000 square feet of living space and three bedrooms plus separate flex room, the Mystique model presents an open floor plan that blends living, dining and outdoor entertaining space. A gourmet kitchen features Shaker-style cabinets, an oversized island, and quartz counters of white with gray and gold accents. The planned community amenities will include a heated neighborhood pool, poolside cabana and fire pit lounge area. For more information, visit Pulte.com/ManateeCove
  • COLLIER  RANKS SECOND IN STATE FOR LOW CLOSING COSTS AS PERCENTAGE OF HOME VALUE
    Collier County ranked No. 2 in SmartAsset’s list of “Places with the Lowest Closing Costs” in Florida. The study measures closing costs as a percentage of median home value at the county level. Collier County was listed with average closing costs of $7,999; the median home value of $340,100; 2.4% in closing costs as the percentage of home value; and closing costs index of 68.82. Additional information on the study, including the full methodology, results and interactive map can be found here.
  • BONITA BREEZE AUTO CONDOS UNDER CONSTRUCTION IN BONITA SPRINGS
    New man-cave garages are under construction about a mile from the beach in Bonita Springs. Bonita Breeze Auto Condos, 4276 Bonita Beach Road SW, will feature state-of-the-art, climate-controlled luxury units for cars, boats, recreational vehicles or any other personal storage items. Each of the 25 condo units will include internet access and cable TV capabilities, along with options for lofts and bathrooms. The auto condos are being built in four buildings by Waltbillig & Hood general contractors on the north side of Bonita Beach Road next to Taco Mix and across from A Table Apart restaurant. “Delivery is going to be sometime in November or December this year,” says Bill Young of Lee & Associates commercial real estate services. The pre-construction asking price is $289,000 per unit, Young said. For more information or to lease a unit, call Young at 239-230-2187 or go to BonitaBreeze.com.

Quote I leave you with:

“The path to success is to take massive, determined actions.”

— Tony Robbins —

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