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.
BAKER SENIOR CENTER NAPLES WELCOMES NEW BOARD TRUSTEE

BAKER SENIOR CENTER NAPLES WELCOMES LOCAL COMMUNITY LEADER TO ITS BOARD OF TRUSTEES Baker Senior Center Naples announced the appointment of Matthew R. Holliday, Director of Government Relations for […] The post BAKER SENIOR CENTER NAPLES WELCOMES
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Imagine you open your mailbox. Inside, there’s a couple of bills, a postcard, and then, what’s this? A dryer sheet? You wonder how it got in there. Is someone playing a laundry-themed practical joke? There’ve been reports from homeowners across the country who are finding dryer sheets in their mailb
Read More Rent vs. Buy: Is Renting Cheaper Than Buying a Home Right Now?

Renting remains more economical than buying a home, as a surge in new supply continues to drive prices down across the country. “Rent continues to fall in many of the major metros across the United States for a variety of reasons,” explains Joel Berner, a senior economist at Realtor.com®. “The bigge
Read MoreRising Mortgage Rates Drive Down Home Loan Application Demand

Mortgage applications suffered another setback last week as rising interest rates dragged down demand for home loans, according to the Mortgage Bankers Association. For the week ending July 10, MBA's Market Composite Index—a measure of total mortgage loan application volume—shed 2.7% on a seasonally
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Jennifer Lopez's attempt to finally offload the Beverly Hills mansion she shared with ex-husband Ben Affleck has reportedly suffered a significant setback after a mystery buyer who had entered escrow on the $50 million property allegedly walked away from the deal. Just days after one of Lopez's brok
Read More Going down: BH Properties former Lincoln Road movie theater sued for lease enforcement

A plan to fill the vacant Lincoln Road Regal Cinema movie theater owned by Steve Gozini’s BH Properties with a museum is on the verge of falling apart, according to a recent lawsuit. Superhuman Museum of Modern Art, a concept spearheaded by former Miami Beach mayoral candidate Steve Berke, is suing
Read MoreBoca Raton mansion leads Palm Beach County contracts with $19M asking price

A Boca Raton mansion in the Royal Palm Yacht & Country Club led Palm Beach County’s luxury market last week, landing a contract with a $19 million asking price. Buyers signed 13 contracts totaling $73 million in asking dollar volume between July 6 and July 12, according to a weekly report by Dougla
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The Ritz-Carlton Residences, Estero Bay boasts water views in the Sunset Lounge. Rendering courtesy of The Ritz-Carlton Residences, Estero Bay The Ritz-Carlton Residences is celebrating a big win in Southwest Florida. London Bay Development Group opened the first residential tower of The Ritz-Carlto
Read More South Florida’s top deals: P. Diddy sells Star Island estate for $55M

🏆 Residential: The top home sale was on Star Island, where Sean Combs, aka P. Diddy, offloaded an 8,000-square-foot property at 1 Star Island Drive. The buyer was JFStar LLC, led by John A. Franklin of Virginia Beach, who purchased the six-bedroom, eight-and-a-half-bathroom home for $55 million. Th
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Nantucket, a former whaling hub in Massachusetts that's roughly 14 miles long and averages 3.5 miles in width, reserves 50% of the island for conservation, putting it off-limits to future development. Consequently, land and homes on the tiny island come at a steep premium, earning what used to be a
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Large swaths of the United States have had to deal with sweltering heat waves since March of this year. And this week, from Salt Lake City to Boston, people are living under extreme heat warnings once again. But one metro area is almost guaranteed to stay cool, at least relative to other major citie
Read More PTM Partners, Peacock launch subsidy-free workforce housing platform

Florida-based PTM Partners and Peacock Capital launched Inception Housing, a platform designed to deliver lower-cost housing without relying on government aid. The venture targets middle-income renters earning between 80 and 120 percent of the area median income, cutting development costs by handli
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To see our latest updates on the Nancy Guthrie case, please click here. Six months after "Today" show star Savannah Guthrie's 84-year-old mother, Nancy Guthrie, was abducted from her Arizona home, true-crime enthusiasts are actively disrupting the investigation. According to newly released court doc
Read More Schools and Churches Are Cashing In on Cell Towers—Nearby Homeowners Fear the Cost

The Knox School stands on 40 waterfront acres overlooking Stony Brook Harbor. Soon, the century-old campus could also overlook a 140-foot cell tower. The telecommunications company behind the project says it’s needed to close a gap in wireless coverage in Nissequogue, a small village on Long Island’
Read MoreHere’s how Florida’s aging condo stock fared post-Surfside

The majority of aging condo buildings requiring the most work in the years since the deadly Surfside condo collapse are located in South Florida, a new report shows. The state’s Office of Program Policy Analysis and Government Accountability compiled and analyzed data collected by the Department of
Read MoreTaylor Frankie Paul Breaks Silence on ‘MomTok Mess’ Ahead of ‘Secret Lives of Mormon Wives’ Return

Taylor Frankie Paul has reflected on her role in the ongoing "MomTok" fallout as she prepares to return for another season of "The Secret Lives of Mormon Wives." The 32-year-old reality star took to Instagram to acknowledge that she made mistakes amid the bitter feud with her co-stars, explaining th
Read MoreCompass files ethics complaints against Zillow in 26 states

Compass International Holdings has filed Code of Ethics complaints against Zillow, the brokerage firm confirmed to HousingWire on Tuesday. According to a Compass spokesperson the complaints, which allege that Zillow has made false advertising claims, spans 26 states, 55 MLSs and 30 Realtor associat
Read MoreProgress Residential scores $385M refi for resi portfolio amid federal housing act

Progress Residential, one of the nation’s largest owners of single-family rental homes, landed a $384.7 million refinancing backed by a multi-state residential portfolio that includes homes in Broward County. Goldman Sachs Mortgage Company provided the loan to the Scottsdale, Arizona-based landlord
Read MoreTFG International expands to South Florida amid wealth migration

Luxury real estate group TFG International is following its clients east as wealthy Californians plant flags in South Florida. The group, co-founded by broker Tomer Fridman, is establishing a presence in Miami through ONE Sotheby’s International Realty to create a bi-coastal operation connecting th
Read MoreNTREIS names Joey Bandemer VP of data governance

North Texas Real Estate Information Systems, Inc. (NTREIS) has named Joey Bandemer vice president of data governance and customer experience, the MLS said in an announcement on Tuesday. The MLS said the hire is the latest step in a broad modernization effort at NTREIS under CEO Chris Carrillo, who t
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