Great and Inspiring Quotes

The truth is more important than the facts.

                                                                   Frank Lloyd Wright

Before God we are all equally wise – and equally foolish.

                                                                  Albert Einstein

Today’s failure is tomorrow’s success

                                                                  unknown

One must be a wise reader to quote wisely and well.

                                                                 Amos Bronson Alcott

 

Please call or email us with any and all of your SW Florida real estate (Cape, Coral, Fort Myers, Lehigh Acres, Estero, Bonita Springs) needs.

I hope everyone has a great day.

Steve Geving
Premiere Plus Realty Co
www.nextgenerationrealtygroup.com

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Real Estate and the Gold Rush

On this day in 1848, the New York Herald carried a front page story that would
change the face and folklore of America forever. The story trumpeted the fact that a
New Jersey man had stuck his hand in a creek in California and plucked out some
nuggets of gold. That was enough! What an image! East Coast man goes west and
strikes gold. Soon one fourth of America was on clipper ships or forming wagon
trains to head west.

The discovery had actually occurred back on January 24th. The New Jersey transplant
was James Marshall and he found the gold while working at the sawmill named for
his partner, John Sutter. Originally, they hoped to keep the news a secret but
American Enterprise got in the way. It appeared in the form of the local storekeeper,
a guy named Sam Brannan. He figured there was money to be made in gold – gold
fever that is.

So Brannan bought up all the pans and overalls and pickaxes he could find. Then he
showed up in San Francisco with bottles filled with gold dust and raved of the
fabulous find at Sutter’s Mill. Then he raced back to Fort Sutter and began becoming
a millionaire by selling supplies at 5000% markups. 

Marshall never became a millionaire. In fact, he died broke. The prospectors
swarmed over his land, ruined his mill and his business. Finally, he tried prospecting
himself  but he was thought to be so lucky at finding gold that scores of prospectors
followed him everywhere. And, if he did find a flake or two, suddenly there were
hundreds of people panning and digging next to him. He took to drink as my mom
would say and died sullen and penniless.

The moral to the story written by Art Cashin is that being first is not always best. 

Investors and homebuyers alike have been flocking to SW Florida (Cape Coral, Fort Myers) for several months but the party has just started.  The homes inventory is great and the prices are better.  The buyers ahead of you have only established the market as a worth while opportunity.

Please feel free to contact us with any and all of your homebuying needs.  We look forward to earning your trust and real estate business.

Steve Geving
Premiere Plus Realty Co
www.nextgenerationrealtygroup.com

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Cape Coral Gulf Access Homes

Cape Coral is in Lee County, Florida and nestled between the Caloosahatchee River and Matlacha Pass. Since its inception, Cape Coral has been known as a “safe and sleepy” community that is perfect for retirement.

Though it still has its share of retirees, the boom of the 1990’s has brought young families into this boating and fishing paradise.

Cape Coral offers exquisite sunsets, 400 miles of navigable canals, exciting eco-adventures, and virtually infinite opportunities for outdoor activities.  According to the United States Census Bureau, the city has a total of 115.1 sq. miles and an estimated population of 156,000.

Cape Coral has more miles of canals than any place in the world.  For a detailed up to date list of Gulf access homes, please click on the link below.

http://iwfl.idxnetwork.com/904405w/index.php?main=filter001&id_from=6883u45f109870323sriP1xByr66I06R4Gl6h2aF

Steve Geving
Premiere Plus Realty Co
239-573-1400
http://www.nextgenerationrealtygroup.com

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Single Women Are Buying More Homes Than Single Men

Single women outpace men in buying residential real estate


WASHINGTON – May 11, 2010 – Single women have moved ahead of unmarried men in the area of homeownership, according to National Association of Realtors^® (NAR) statistics.

When the group first began tracking this data nearly 30 years ago, males and females were evenly matched – with each representing 10 percent of home sales. NAR figures show that unwed males held at that level in 2009, while homeownership by single females rose to 21 percent after holding steady at 20 percent for at least five years.

The trend is most prevalent in the California, Texas and District of Columbia markets, according to Brooke Warrick of American Lives, a market research company, who warns that real estate developers and sellers must be careful not to dismiss unmarried young women as mere bystanders to the homebuying process.

Source: Wall Street Journal (05/10/10) Goldberg, Eleanor

© Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688

 Steve Geving
Premiere Plus Realty Co
239-573-1400
Steve@nextgenerationrealtygroup.com
www.nextgenerationrealtygroup.com

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April Delinquencies Fall For Alt-A Mortgages

April delinquencies fall for ‘Alt-A’ mortgages

NEW YORK – May 11, 2010 – Fitch Ratings on Monday said late payments on high-risk residential mortgages known as ‘Alt-A’ loans fell last month for the first time in four years as more borrowers caught up on their payments and modified their loans.

Fitch said delinquencies on so-called ‘Alt-A’ residential mortgage-backed securities declined to 34.1 percent in April from 34.4 percent in March – marking the first month-over-month decline in that category since April 2006.

However, last month’s delinquency rate was still up from 27.4 percent in April 2009. Fitch also cautioned that about 8 percent of current ‘Alt-A’ loans and 35 percent of subprime loans have been modified from their original terms, and consequently have a substantial risk of going back in default.

‘Alt-A’ mortgages required little or no documentation of the borrower’s ability to pay. They were a key part of the surge in subprime mortgage delinquencies that helped trigger a broader downturn in the housing market starting in 2007. Mortgages in California and Florida represent more than 50 percent of the nationwide volume of ‘Alt-A’ loans outstanding.

Fitch said late payments on subprime mortgages offered to borrowers with shaky credit ratings fell for the second straight month in April, to 45.2 percent from 46.3 percent. However, prime jumbo delinquencies for those with more solid credit ratings rose slightly as unemployment benefits begin to run out for many and job openings are slow to return. After nearly tripling in 2009, those delinquencies are up another 98 basis points since the beginning of the year.

Vincent Barberio, a Fitch managing director, said April’s month-to-month declines for Alt-A and subprime delinquencies “may be a signal that residential mortgage-backed securities performance is beginning to turn the corner.”

“The next few months will be a better indicator of whether we’re witnessing the beginnings of a legitimate turnaround or a short-term seasonal effect of tax refunds,” Barberio said.

Also Monday, government-controlled lender Fannie Mae asked taxpayers for another $8.4 billion after reporting another steep loss for the first quarter. Though there have been some signs of stability in the housing market this year, Fannie Mae warned that mortgage defaults will remain elevated, foreclosures will increase and that home prices will decline slightly.

Copyright © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed

Steve Geving
Premiere Plus Realty Co
239-573-1400
Steve@nextgenerationrealtygroup.com
www.nextgenerationrealtygroup.com

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