New spike seen in high-end home market

Drive around Bird Key and you will get the impression that the Great Recession is receding into memory.

"The increased luxury spending reflects a broad split in the labor market," said Mark Vitner, a senior economist for Wells Fargo who tracks Florida closely. "A number of high-end occupations are doing relatively well, whereas the vast majority in the middle is still struggling because of a lack of access to credit." Fourteen luxury homes are going up on this tiny island -- representing about 3 percent of its entire housing stock -- and the final cost of their construction is expected to far exceed $14 million. read more . . .

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7 of 10 renters say owning home a top priority

 WASHINGTON – July 7, 2011 – According to the 2011 National Housing Pulse Survey released yesterday by the National Association of Realtors®, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010.  read full article here . . .

Foreign buyers help housing market

MIAMI – July 6, 2011 – Foreign buyers are helping to stoke home sales in U.S. vacation hot spots decimated by the real estate crash, especially in southern Florida.

For the 12 months ending in March, 31 percent of Florida’s home sales were to foreign buyers, up from 10 percent in 2007, according to a survey by the National Association of Realtors. read article here . . .

Great 'Staycation' Destinations: National Wildife Refuges

Staycations are back, thanks to high pump prices and tight family budgets. Luckily, relief from summer boredom is closer than you may imagine, in often-dramatic natural settings: national wildlife refuges. There is a world renowned national wildlife refuge on Sanibel Island. read full article  . . .  

Source: Sanibel Captiva Islander

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Low vacancies, rising rents for apartments

Sanibel Real Estate and Captiva Island Real Estate Information and properties by John R. Wood Island Real Estate inc. 1019 Periwinkle Way Sanibel, FL. 33957

Article:

WASHINGTON – July 11, 2011 – Reis Inc. reports that the average effective rent – the amount paid after discounting – was $997 in the second quarter of the year – an increase from $974 a year ago. Second-quarter rents, meanwhile, climbed in 80 out of 82 markets surveyed.

According to Reis, monthly rent levels rose fastest in San Jose, Calif., to $1,501.

read full article - click here

We Won the Junonia Award!

John R. Wood Island Real Estate Inc is proud to announce that we have won the Junonia Award (The Top Award) -Most Original/Best Overall for the Parade. read more . . .

Existing-Home Sales Forecast for 2011 and Beyond

 Lawrence Yun discusses his forecast for existing-homes sales for the remainder of 2011 and 2012. Existing-homes sales will show slight improvement in 2011. Read the full article here

Source: www.Realtor.org

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Sanibel's July 4th Independence Day Parade

John R . Wood Island Real Estate & R S Walsh "Shellabration"

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