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How Much Home Payment Can I Afford ?

To determine how big a mortgage you can afford you should follow the parameters used by most lenders.  Usually your total debt payments should be no more than 36% of your gross income.  To determine this amount add your monthly debt (proposed home payment, credit cards, student loan and car payments) then divide that by your monthly income, The answer will indicate the largest monthly debt load that most lenders have determined you should be able to afford. 

Remember that the home payment must include 1% of payment property tax and 0.4% of payment for homeowners insurance. It does not include private mortgage insurance – which you will have to pay if your down payment is less than 20% of the purchase price.

It is also important that you remember any additional expenses, i.e. child care, private school tuition, health care etc.

Annual  Income

  $ 60.000.00

36% of Income

       1,500.00

Monthly Debt (not including proposed mortgage)

          600.00

Down Payment

    30,000.00

Qualified Monthly Mortgage Payment

  $  1,200.00

First Step to Get the Value in Your Home

Many people would like to buy a Naples home, or sell a Naples home, but they may be confused about the value of the home in question.  Naples home sellers know how much they would like to receive for their home and the person buying a home knows how much they would like to pay - to complete a successful sale these two prices must merge.  The market is constantly changing:  sometimes there are excellent bargains available for buyers and at other times homes command a premium price. 

In order to assist buyers and sellers to estimate the value of homes in the Naples area the current market conditions should be taken into consideration which include number of homes for sale and the list price, number of new listings coming onto the market, number of sales and sales price this will allow a person to get a thumbnail idea of the value of a specific home.  But, keep in mind all neighborhoods are different.

The information available to date from the Naples area MLS (Information is deemed reliable but not guaranteed) shows that:

There are currently 8,361 homes listed for sale.
So far, year to date, 5,376 new listings have been entered into the MLS.
Also, year to date, 4,890 listings have expired.
There have been 23479 Naples area homes sold.
The median sales price for these homes is shown as $329,450.
The median sales price for Naples area homes is approximately 94% of the list price.

If you would like a valuation that is more targeted to a specific Naples home just call or text 239-571-4416 and we will be glad to assist you – with absolutely no cost or obligation.
Visit the RealEstateMann

Fantastic New Community for Active Seniors

GL Homes has announced that they are building a resort style community for active seniors.  Their success with 10 similar communities they have previously developed will ensure the success of this new Naples Area community.  The community features 45,000 square feet of lavish club house which will be the focal point of the community.  There is a full time - on site -lifestyle staff to ensure the social calendar presents programs to fit everyone’s lifestyle.

Whether you prefer an elegant single family home or a lovely villa you will find the “right” home to fit your lifestyle in this marvelous community. 

Call or Text 239-571-4416 for complete details and pictures of all homes in the community.

Preview All Homes for Sale in Naples Florida

Capital Gains Tax Exclusions

It is almost “the season” and many people are thinking of selling their home in Naples.  Most of them know that when they sell a house that something called “Capital Gains” comes into play and they can exclude up to $250,000 of the capital gain from tax – and couples filing jointly can exclude up to $500,000- also, unmarried people who jointly own a home, file separately and individually meet the requirements, may each claim the $250,000 exclusion?

To meet the requirements (there are some exception) you must have owned the home as your primary residence for a total of at least 2 of the past 5 years (does not have to be a contiguous period) before the sale.

You can claim this this capital gains tax exclusion every 2 years.

Many think that the difference between what they paid for the home and what they sold it for is the capital gain.  But, it is not quite that simple – here is where a good tax professional comes in handy, so be sure to consult one.  Your gain is the selling price of the house less the closing costs (deductible closing costs include pints or prepaid interest on your mortgage and your pro-rata property taxes, selling costs (broker’s commission, title insurance, legal fees, advertising costs, administrative costs, escrow fees, inspection fees) acquisition expenses, any capital improvement costs (new roof, landscaping, additions, etc.), depreciation and casualty losses. 

There are many reasons to claim a partial exemption if you have not lived in the house for a total of 2 years out of the past 5 years.  Such reasons as for a change in employment or if your doctor recommended a move because of your health (does not include being sick and tired of living there), or if you sold because of a divorce or a death in the family – then you may claim a partial exemption based on the percentage of the 2 years that you lived there.

An exception that may interest many people is if you moved into a nursing home.  The residency requirement is then changed to one (1) out of (5) years- time spent in the nursing home counts as ownership time and usage of the home time.

If you expect very large capital gains more than can be excluded from tax -- you may consider ways to divide ownership of the house.

If you and your spouse own the residence together with an adult relative- If the relative meets the ownership and use requirements as to one-third of the property- then that relative may sell his share for a $250,000 gain excluding the tax. The couple may simultaneously sell their share for $500,000 without tax, thus sheltering the entire $750,000 gain.

All Tax Matters Should Be Advised by and Reviewed by a Qualified Tax Professional.  This blog is meant to be informational only and may not be entirely correct.

For more information, see IRS Publication 551, Basis of Assets, and look for the section on real property.  Publication 523Selling Your Home, provides rules and worksheetsTopic 409 covers general capital gain and loss information

Great Naples Golf Community

Esplanade Golf & Country Club in Naples

The Esplanade Golf & Country Club, in Naples, Florida, offers a selection of Fine Homes with a resort lifestyle.in a community situated in approximately 1,798 acres which include1,000 acres of natural preserves, where you will find walking trails and over 170 acres of sparkling lakes.

The Esplanade Golf & Country Club offers you a Championship Golf Course, which was designed to enhance the magnificent setting of the community. You will truly enjoy the outstanding vistas of natural beauty with with a course designed to offer all levels of skill a playable, challenging and quality golf experience.

For the pleasure and convenience of all residents the Esplanade Golf and Country Club offers a state of the art Wellness Center of over 8,000 square feet of the most modern fitness rooms and equipment including aerobic rooms – spa and salon, lockers and shower rooms.  All of this combined with a Resort Style pool offering full service pool side service.  You may enjoy the Tiki Bar and Grill, Shaded Lounge Chairs, Pool Side Tables and Covered Cabanas – and even Bocce Ball.

Bundled golf means that membership is included and the fee is factored into the home owners association fees - so with the purchase of a home in a bundled golf community, such as th Esplanade Golf & Country Club, you become a member of the golf club.

Call or Text us for a complete package of details  - 239-571-4416.

Making Your Home Ready to Sell

We are entering the “Season” in SW Florida and many home owners are thinking of selling their home, if you are thinking of selling your home there are some things that you should do to your home and somethings that are not cost effective. 

First a most buyers will want a home inspection done before closing the sale.  This inspection will show anything that is broken or needs repairing.  It is a good idea to repair these things before the inspection is held- i you don't you will have to repair them after the inspection.  Make sure that all obvious problems are fixed and all lights are working properly.

Painting the interior can be expensive and the colors you prefer may not be the best choice for a potential buyer.  Any paint touch needed should be done and any walls painted in very “bright” colors should be repainted in a neutral color.  Paint the front door if needed.

All regular maintenance should be completed.  Air conditioning system checked and any needed repairs completed.  Leaky faucets should be repaired.  Everything should be cleaned and shined - makes sure there is no mold in the bathrooms and that the windows are sparkling clean.

Any major changes may make the house sell quicker but will be a major expense – and again potential buyers may want something different.

Major cost – minimal return – wasted money

Only One Homestead Exemption - no matter where

A decision by a Broward County circuit judge ruled that an individual family was only allowed one homestead exemption no matter where the property was located - even if in another state..

The 4th District Court of Appeal in March also ruled that Florida Constitution allows only one homestead property exemption per individual family. The court stated:  "The meaning of the Constitution's command that 'not more than one exemption shall be allowed any individual or family unit' appears clear on the face of the document."

The Florida Supreme Court refused a request for an appeal, which allows the ruling to stand.    

Very Interesting Stats

Very Interesting Naples Real Estate Statistics

According to statistics in the Naples MLS for the complete year of 2015 there were 3,369 homes sold in Naples with a listing price range of $100,000 To $250,000 these homes sold for 96.99% of list price.  At the end of the year there were 1,215 listings in this price range with a median price of $191,500.

This year to date (10/08/2016) in the same list price range, there have been 2,130 homes sold with a selling price of 96.5% of list price.  There are currently (YTD) 1,188 homes listed in this price range with a median price of $219,900.

When we consider the listed price range of 250,000 to 400,000 there were 2853 homes sold in the year 2015 with a selling price of 96.4% of list price.  At the end of the year there were 1,404 homes listed for sale with a median price of $323,295.

So far this year there have been 2022 homes sold in that listed price range with a sales price equal to 96.4% of the list price.  There are currently 1,660 homes listed for sale with a median listing price of $319,900.

Aqua at Pelican Isle

Aqua at Pelican Isle is located at Wiggins Pass in Naples.   Things are really happening at Aqua at Pelican Isles – a new eleven (11) story tower is under construction with fantastic views.  These magnificent condos will feature high ceilings and sunlit living areas and provide up to 4,100 sf with 3 bedrooms and 3.5 baths, a gourmet kitchen with gas cooktops.  Everything speaks of luxury and ease of living.

Have a dog?  There is a planned dog run for your convenience.

Golf?  You will have a putting and chipping green – PLUS – residents have the opportunity to play “virtual golf” probably in air-conditioned splendor.

Whatever fits your lifestyle - Beach, shelling, fishing, golf, bird watching, hiking ... Everything is close by. 

At Aqua you will discover two (2) boutique tower condominiums with a private yacht harbor available and a roof top sky lounge featuring a stunning view of the Gulf of Mexico and those awe-inspiring Naples Sunsets.  

Call Ellen- 239-571-4416 – for a complete package of details

New Homes at Bent Creek Preserve

Bent Creek Preserve is a gated residential community in Naples FL. featuring Brand New Homes with a resort lifestyle.  The Lakeside clubhouse features a fitness center, eve3nt salon, pool & spa, as well as pickleball and bocce ball courts.  PLUS- Har-Tru Tennis  Courts for your convenience and pleasure. These homes are surrounded by lush landscaping and lakes = truly a quiet friendly community where you can enjoy life as you like it- but, still be close to all of Naples World Class Amenities and Beaches. 

There are many architectural styles and designs to fit a wide variety of lifestyles, personal choices and needs.  Call 239 434-9021 (click for email) to request an informational packet with details and pictures.

© 2017, The data relating to real estate for sale on this Website come in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than Premiere Plus Realty are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. BR data on this website is provided by Premiere Plus Realty on behalf of Ellen Mann, P.A.. The source of this real property information is the copyrighted and proprietary database compilation of the M.L.S. of Naples, Inc. Copyright 2006 M.L.S. of Naples, Inc. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Data last updated 2017-07-27 23:05:35.

© 2017 Bonita-Estero MLS All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Real estate listings held by brokerage firms other than Premiere Plus Realty are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2017-07-28.

Copyright 2017 Multiple Listing Service of Greater Fort Myers and the Beach, Inc.; All rights reserved. The data relating to real estate for sale on this web site is the copyrighted and proprietary database of the Multiple Listing Service of Greater Fort Myers and the Beach, Inc. The properties displayed may not be all of the properties in the MLS\' database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than Premiere Plus Realty are marked with BR logo and include the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; buyers are advised to verify facts before making the decision to purchase a property. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Information provided is for consumer\'s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This site will be monitored for \'scraping\' and any use of search facilities of data on the site other than by a consumer looking to purchase real estate, is prohibited. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2017-07-27.

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Buying a New Home in NaplesThis is the time when you really need an agent to represent you and your interests.The professional sales people at the development are employees of the developer and it is their job to represent the developer and protect his interests.  
My job is to represent you and protect your interests – not the developer’s. Just let me know what development you are interested in and I will have a packet of information sent to you ASAP-
Call – 239-434-9021 or email me.

 

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