Southwest Florida Real Estate News and Market Insight
Market data, mortgage rate movement, housing policy, and property news from across the country and here at home in Collier and Lee counties. Anything that affects what a home in Naples, Bonita Springs, or Estero is worth, and what it costs to own one, is worth understanding before it shows up in your closing statement or your tax bill.
Democratic Socialist Who Promises ‘Homes for All’ Pulls Ahead in DC Mayoral Primary

Washington, DC, could soon have a new mayor in Janeese Lewis George, whose "Homes for All" platform could set her on a collision course with President Donald Trump. Lewis George pulled ahead of her main competition, fellow DC council member Kenyan McDuffie, following Tuesday's Democratic primary ele
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Australian actor Sam Worthington has revealed why he made the decision to move into his car in a bid to "clear his head," just as his on-screen career was beginning to take off. Worthington, 49, shot to international stardom after landing the role of Jake Sully in director James Cameron's epic "Avat
Read More Steve Ross buying Boca Raton’s ex-IBM campus, plots mixed-use “micro city”

Steve Ross, the billionaire developer who is reshaping West Palm Beach, has set his sights on Boca Raton’s former IBM campus, the state’s largest single office complex, seizing on existing approvals for a mixed-use project. Ross is nearing closing on a deal to purchase the 1.7 million-square-foot Bo
Read MoreAAA Says 72 Million Americans Will Travel This July 4th—and Your House Is Vulnerable on Vacation

To celebrate America’s 250th birthday, Americans will be taking to the skies and roads in droves. AAA projects 72.2 million Americans will travel at least 50 miles from home for Independence Day between Saturday, June 27 and Sunday, July 5, surpassing last year’s record of 71.8 million travelers. Fo
Read MoreInside litigation surrounding Amrit Ocean Resort condo-hotel

In December 2023, David Stern closed on his $1.8 million purchase of a unit at Amrit Ocean Resort, an oceanfront condo-hotel on Singer Island, a barrier island north of Palm Beach. The following year, he found himself in the courts, suing the developer and managers of the LLCs that built the two-tow
Read MoreKushner, Cain pay $43M for Edgewater site amid apartment rent-growth predictions

Cain and Kushner paid $43.1 million for a site in Edgewater where they’ve been planning a 364-unit luxury apartment tower. The firms bought the 1.5-acre property at 614 and 720 Northeast 27th Street from an entity tied to a joint venture between Miami-based OKO Group and Cain. London-based Cain, led
Read MoreWages in America Are Too Low for the 30% Rule To Work for Renters Anymore

The 30% rent rule has been a personal finance staple for decades. It stipulates spending no more than 30% of your gross income on housing, and you should have enough left over for everything else. But the problem with this rule is that everyday life is much more expensive than it used to be. Housing
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New York City Mayor Zohran Mamdani has confirmed that Taylor Swift and Travis Kelce are going to say "I do" in the Big Apple—revealing that the highly anticipated wedding will take place before the FIFA World Cup draws to an end on July 19. Mamdani, 34, who was sworn in as mayor of New York City on
Read More Fed Keeps Interest Rates Steady in Unanimous Vote Under New Chairman Kevin Warsh

Federal Reserve policymakers have voted to leave interest rates steady, as rising inflation made it impossible for new Fed Chairman Kevin Warsh to deliver the lower rates that President Donald Trump has demanded. Warsh, who was Trump's pick to replace Jerome Powell, joined the unanimous 12-0 vote in
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Prince George, the eldest son of Prince William and Princess Kate, is set to follow in his father's footsteps come September, when he will leave the family home in order to attend the same prestigious British boarding school where his dad and his uncle, Prince Harry, both studied. George, 12, will e
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Heather El Moussa has described her husband, Tarek, and their son, Tristan, as her "greatest treasures," mere days after the family's home was broken into—and several pieces of the reality star's jewelry were stolen. The 38-year-old "Selling Sunset" star opened up about how "violated" she and her hu
Read More Illustrated Properties launches commercial division amid broader industry consolidation

Illustrated Properties is making a bigger leap into commercial real estate with the launch of a division led by industry veteran Shane McCain as the brokerage looks to expand beyond its residential roots in Palm Beach County and the Treasure Coast. McCain will serve as director of commercial real es
Read MoreAt Home with Neapolitans Bill and Mari Gaston

Bill and Mari Gaston at home in Naples. Photo by Nick Shirghio When Neapolitans and newlyweds Mari and Bill Gaston first saw their North Naples residence, they knew immediately it was the ideal home for their blended family. Conveniently situated on a canal within a Vanderbilt Beach community, the h
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Gilgo Beach killer Rex Heuermann has been sentenced to life in prison without the possibility of parole, just over two months after he pleaded guilty to the murders of multiple women—many of whom he killed inside his longtime Long Island, NY, home. Heuermann appeared in a New York court on June 17,
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The National Hurricane Center has issued tropical storm watches for the northwestern Gulf Coast from Sargent, TX, to Morgan City, LA, starting on Wednesday, June 17. Dangerous, flood-inducing rainfall is expected to persist through Friday throughout much of the Deep South, as a low-pressure system d
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Actor Armie Hammer has opened up about his return to Los Angeles—and his Hollywood career—in the wake of a well-documented sexual assault scandal that ended his marriage and destroyed what was, at the time, a glittering rise to the upper echelons of movie stardom. Hammer, 39, who is the great-grands
Read More Pending Home Sales Leap 4.8% Annually in May as Buyers Join Late-Spring Rush

Pending home sales rose in May both on a monthly and annual basis, reflecting a late-spring buying rush that may signal homebuyers' acceptance of mid-6% mortgage rates as the new normal. Contract signings increased 3.8% month over month and 4.8% year over year, according to the National Association
Read MoreFollow the money: Engel & Völkers franchise owner expands into Palm Beach region

The New York to South Florida pipeline is extending to the residential brokerage industry, where Engel & Völkers franchise owner Donald Brennan acquired the Palm Beach office. Brennan, who owns franchises in Manhattan, Brooklyn, New Jersey and the North Fork of Long Island, acquired the rights to th
Read MoreSouth Florida’s top deals: Bal Harbour property trades for $26M

🏆 Residential: Bal Harbour had the top home sale recorded in South Florida. An LLC led by smartphone mogul Samuel Ohev-Zion sold a home at 166 Bal Bay Drive for $26 million. The buyer was a company managed by Moses Strauss, a real estate investor, and interior designer Susan Strauss. Douglas Ellima
Read MoreThe Typical Home Will Cost a Million Dollars as Millennials Hit Retirement, Economist Says

The median U.S. home price will likely hit $1 million around the year 2050, when the millennial generation is hitting the traditional age of retirement, a top housing economist has predicted. "Essentially, in about 25 years the national median home price will be a million dollars," Lawrence Yun, chi
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