Naples Daily News Column

  By James D. York, P.A. The English language is constantly evolving. Words and phrases that once were common are now antiquated or even extinct. In other cases, terms that never used to garner much attention become offensive or inappropriate over time. The terminology used in real estate follows these same patterns. In fact, language and wording in the housing industry may be especially prone to change, since a home’s written description can influence buyers who are shopping for properties – prompting them to either go [...]

  By James D. York, P.A. I’ve talked before about how foreign buyers are playing a major part in the Florida real estate market rebound. International home buyers are purchasing properties to live in here in our sunshine state, as well as buying for investment purposes. Well, now you may be surprised to learn that a new report by BMO Financial Group shows the largest chunk of recent foreign sales going to Canadian buyers. Our neighbors to the North are definitely helping our local market, including supporting good housing pri [...]

  By James D. York, P.A. All of us who have been around for a while have seen how trends come and go…and then come back again. Well, that phenomenon is happening in real estate right now. Statistics for the past year show that homeowners who went through a foreclosure and lost their homes are back—as buyers. Known as “boomerang buyers,” they have discovered that the wait period for being able to re-qualify for a mortgage is not as long as they might have initially thought. According to a recent report in US [...]

  By James D. York, P.A. A new federal loan-modification program announced this week by the Federal Housing Finance Agency will bring a smile to many currently struggling homeowners. Designed to help more people avoid foreclosure and stay in their homes, the Streamlined Modification Initiative differs from previous government programs by not requiring proof of income or financial hardship. There are some conditions, though: the loan in question must be under Fannie or Freddie, between 90 days and 24 months delinquent, first-lien, at [...]

  By James D. York, P.A. All the important indicators are pointing to a very real recovery for the housing market. And that’s good news for the economy as a whole. But the current fly in the ointment is a significant shortage of construction workers. This labor shortage, reported by over half of all builders and subcontractors, is significantly impeding recovery by delaying the completion of some projects, and even causing builders to cancel or turn down others. Unfortunately, this can lead to higher housing costs at a time whe [...]

  By James D. York, P.A. As housing goes, so goes the economy, right? With recent indicators looking positive and promising for a clear housing recovery across the nation, many financial experts indeed think so. According to Karen Mracek, a Kiplinger editor and real estate analyst, “The biggest reason we think we’re on firm ground is that we’re seeing every indicator on the way up. As with the overall economy, it’s kind of hard to call the bottom or the pivot point. But we’re seeing a range of indicators [...]

    By James D. York, P.A. Today I’d like to personally invite you to an upcoming seminar I’ll be participating in, “Real Estate Market Update,” that will provide up-to-the-minute information on buying and selling real estate in our area. In this economic climate, things change rapidly, and your important and far-reaching financial decisions demand current—and very specific local—knowledge. The seminar will cover three important topics: Market Trends and Current Inventory Levels Cindy S. [...]

  By James D. York, P.A. Realtor Generally, the term probate refers to the process of transferring assets, including real property, through the legal system, to the beneficiaries. Though part of life’s certainties—“death and taxes”—this complex and often lengthy process can be difficult to understand. Let’s take a look at the basics. First of all, formal probate takes place whether or not the deceased had a valid will, if the total assets are over $75,000. If there is a will, testate, that docume [...]