Dennis Norman Musings

Dennis Norman

By: Dennis Norman

Presently SmartZip, which just launched its public Beta site in June, 2009, rates over 15 million properties, including listings, foreclosures as well as non-listed homes, across California and Florida only.  However, these two states represent some of the most opportunity-rich markets for real estate investment.  SmartZip plans to roll out its ratings to all 50 states over the next year which will then give them the ability to highlight the best investment cities across the nation. Read more…

Dennis Norman

By: Dennis Norman

Having done my share of new developments and being put through the “wringer” by city councils and boards of aldermen, I was pleasantly surprised when I saw that the governor of Florida had signed into law SB 360, titled Growth Management.

According to the Governor’s press release, the following are the benefits of the bill:

• The bill incentivizes entrepreneurs to undertake economic development projects in designated urban areas.
• The bill directs a study of a mobility fee system to replace proportionate share payments paid by developers for transportation impacts.
• The bill also allows economic development projects to stay “in the pipeline” by extending the validity of development permits for two years.
• The bill makes changes to our affordable housing programs to ensure affordable homes are available for those in need, including young adults leaving the state foster care system.
• Finally, the bill encourages green building and storm resistant construction. Read more…

Dennis Norman

By: Dennis Norman

Existing home sales in Florida rose in April by 18 percent over a year ago and were up slightly from March.

Condo sales in Florida were up 21% in April from a year ago and up over 6% from March.

This increased activity is, at least in part, a result of significantly lower prices…the median price for existing homes in April, according to the Florida Association of REALTORS(R), was $138,500, down 31% from a year ago when the median home price was $199,500.  Due to the large number of  foreclosures, the median price has been skewed artificially low, but still, prices are down.

 This report is consistent with my recent  E-View ^TM  with Bob Radigan, a broker in Florida, about the Florida market in which Bob indicated there were good opportunities to buy real estate in Florida.

Dennis Norman

By: Dennis Norman

Existing home sales in Florida rose in April by 18 percent over a year ago and were up slightly from March.

Condo sales in Florida were up 21% in April from a year ago and up over 6% from March.

This increased activity is, at least in part, a result of significantly lower prices…the median price for existing homes in April, according to the Florida Association of REALTORS(R), was $138,500, down 31% from a year ago when the median home price was $199,500.  Due to the large number of  foreclosures, the median price has been skewed artificially low, but still, prices are down.

 This report is consistent with my recent  E-View ^TM  with Bob Radigan, a broker in Florida, about the Florida market in which Bob indicated there were good opportunities to buy real estate in Florida.

Dennis Norman

By: Dennis Norman

This is my final post of a series about Florida real estate and the second part of my interview with Bob Radigan with VIP Realty Groupin the Sanibel/Captiva area.

For part one of this series click here, part two click here and part three click here.

Following is the continuation of my E-View ^TM with Bob:

Q-Over the past couple of years there has been a lot of attention to the cost of, or difficulty in obtaining, property and flood insurance for Florida property.  Please give me your comments with regard to the availability of insurance and typical cost.

A- I can’t quote rates, I always rely on all my insurance
professionals. All I know is that it is available and it can be expensive
depending on many factors with the property…elevation, age,
conforming/non-conforming, rental, etc. , For the most part it is not as big an issue for most properties. Read more…

Dennis Norman

By: Dennis Norman

This is my final post of a series about Florida real estate and the second part of my interview with Bob Radigan with VIP Realty Group in the Sanibel/Captiva area.

For part one of this series click here, part two click here and part three click here.

Following is the continuation of my E-View ^TM with Bob:

Q-Over the past couple of years there has been a lot of attention to the cost of, or difficulty in obtaining, property and flood insurance for Florida property.  Please give me your comments with regard to the availability of insurance and typical cost.

A- I can’t quote rates, I always rely on all my insurance
professionals. All I know is that it is available and it can be expensive
depending on many factors with the property…elevation, age,
conforming/non-conforming, rental, etc. , For the most part it is not as big an issue for most properties. Read more…

Dennis Norman

By: Dennis Norman

This is my third post of a series about Florida real estate and the second part of my interview with Bob Radigan with VIP Realty Group in the Sanibel/Captiva area.

For part one of this series click here, for part two click here.

Following is the continuation of my E-View ^TM with Bob:

Q-Bob, as you know people throughout the Midwest and Canada in particular look at the gulf coast as a desirable place to own a 2nd home or investment property in the form of a vacation rental….the buzz is that prices have dropped to the point that now may be a good time to jump in. There is also plenty of talk about this not being the bottom for Florida yet…waht are your thoughts on this and advice to someone that is considering this?

A- Are we at the bottom yet? Wow…talk about a subject that’s been discussed non-stop! My statement is that the entire country’s real estate market does not react at the exact same time, no one state, area or market will be at the peak or bottom in a way or time that the news media will ever be able to announce to the buying public,” the bottom has been hit here…buy now!”

Florida specifically has many markets, most have already hit bottom, others not yet, and others like Sanibel and Captiva islands have definitely seen a significant decrease in values.. not like many local inland locales.

Is it the time to buy, is it at the bottom here? Definitely yes, best prices in 8+ years, best interest rates, but buyers need to learn to trust their Realtors knowledge and to make the offer! Really…make an offer! Sellers are motivated, buyers need to take advantage of the best buyers market since the titanic! Read more…

Dennis Norman

By: Dennis Norman

This is my third post of a series about Florida real estate and the second part of my interview with Bob Radigan with VIP Realty Group in the Sanibel/Captiva area.

For part one of this series click here, for part two click here.

Following is the continuation of my E-View ^TM with Bob:

Q-Bob, as you know people throughout the Midwest and Canada in particular look at the gulf coast as a desirable place to own a 2nd home or investment property in the form of a vacation rental….the buzz is that prices have dropped to the point that now may be a good time to jump in.  There is also plenty of talk about this not being the bottom for Florida yet…waht are your thoughts on this and advice to someone that is considering this?

A- Are we at the bottom yet?  Wow…talk about a subject that’s been discussed non-stop! My statement is that the entire country’s real estate market does not react at the exact same time, no one state, area or market will be at the peak or bottom in a way or time that the news media will ever be able to announce to the buying public,” the bottom has been hit here…buy now!”

Florida specifically has many markets, most have already hit bottom, others not yet, and others like Sanibel and Captiva islands have definitely seen a significant decrease in values.. not like many local inland locales.

Is it the time to buy, is it at the bottom here? Definitely yes, best prices in 8+ years, best interest rates, but buyers need to learn to trust their Realtors knowledge and to make the offer! Really…make an offer! Sellers are motivated, buyers need to take advantage of the best buyers market since the titanic! Read more…

Dennis Norman

By: Dennis Norman

In my post yesterday I was talking about Florida and whether or not now is the time to consider buying there now.  To answer this question I turned to  Bob Radigan with VIP Realty Group. 

Following is part one of my  E-View ^TM  with Bob:

 Q- Bob, please share with us your background and experience.

A- I moved to Sanibel in 1979 and started a small ad studio/advertising office. My extensive national marketing background has helped me in Real estate promotions and advertising. Read more…

Dennis Norman

By: Dennis Norman

In my post yesterday I was talking about Florida and whether or not now is the time to consider buying there now. To answer this question I turned to Bob Radigan with VIP Realty Group.

Following is part one of my E-View ^TM with Bob:

Q- Bob, please share with us your background and experience.

A- I moved to Sanibel in 1979 and started a small ad studio/advertising office. My extensive national marketing background has helped me in Real estate promotions and advertising. Read more…