The Latest at Access Title Agency

Did you know Access Title Agency has five branch locations in Southwest Florida? The running joke since Hurricane Ian has been that we have four and a half branches, with the Fort Myers Beach office being out of commission. Now, just over a year later, we can officially say five branches once again.

The Fort Myers Beach office is back in business! We are so happy to announce the reopening at that location. After months of anticipation, we are excited to welcome you back to our newly renovated space at 100 Lovers Lane. Stay tuned for upcoming details on our Grand Re-Opening celebration.

Protecting Your Property with Title Insurance

Title insurance is like a safety net for your property. It protects you from financial losses that might come up because of hidden problems with your property’s ownership history. You might be wondering if title insurance is necessary. The clear answer from real estate experts is “yes.” For many people, their property is their biggest investment, so it’s important to protect it.

Within the realm of title insurance, two distinct policies exist: Owner’s Title Insurance and Lender’s Title Insurance. While they may seem similar, these policies serve different purposes and provide protection to different parties involved in a real estate transaction.

 Owners Title Insurance:

Owner’s title insurance, also known as an Owner’s policy, is designed to protect the buyer or homeowner. When you purchase a property, you are essentially acquiring the rights and interests associated with that property. However, it’s possible that issues or defects in the property’s title may arise, which could threaten your ownership rights.

Ownership Protection: An owner’s Title insurance policy safeguards your investment by covering you against any unforeseen claims, disputes, or defects in the property’s title that existed before you purchased it. This can include issues like liens, easements, or undisclosed heirs.

One-Time Premium: Owner’s title insurance is typically purchased at the time of closing on the property with a one-time premium payment. The policy remains in effect for as long as you own the property.

Customary Coverage: The coverage amount is usually based on the property’s purchase price and can vary by location. It is important to consult with a title insurance company to understand the specific terms and coverage limits of your owner’s policy.

Peace of Mind: Owner’s title insurance offers homeowners peace of mind knowing that their investment is protected from potential title issues, which could be costly and time-consuming to resolve.

 Lender’s Title Insurance:

Lender’s title insurance, often referred to as a lender’s policy, is a separate policy that is typically required by mortgage lenders when you finance the purchase of a property. This policy protects the lender’s financial interest in the property.

Lender’s Interest: The lender’s policy is designed to protect the mortgage lender in the event that title issues arise, which could jeopardize the lender’s collateral interest in the property.

Borrower’s Responsibility: While the borrower is usually responsible for purchasing the lender’s title insurance policy, it is primarily for the lender’s protection. The borrower pays for this policy as part of their closing costs.

Coverage Amount: The coverage amount for lender’s title insurance is typically based on the loan amount, and it decreases as the borrower pays down the mortgage. It does not protect the homeowner’s equity in the property.

Protection for the Borrower: While lender’s title insurance primarily benefits the lender, it indirectly benefits the borrower by helping to ensure that the transaction proceeds smoothly and the lender is willing to extend financing.

 In summary, Owner’s Title Insurance and Lender’s Title Insurance serve distinct purposes in a real estate transaction. Owner’s title insurance protects the homeowner’s ownership rights and interests in the property, while lender’s title insurance safeguards the lender’s financial interest in the property. Both policies are essential components of a real estate transaction, providing protection and security to all parties involved. Homebuyers should carefully consider purchasing owner’s title insurance to protect their investment, while lender’s title insurance is typically required by mortgage lenders to protect their interests in the loan.

 By choosing Access Title Agency as your partner, you are making a wise investment in securing what may be your most treasured asset – your home. Our team comprises experienced title insurance professionals with decades of expertise, capable of handling a wide range of title-related situations. If you’re eager to explore the realm of title insurance further, don’t hesitate to contact an Access Title Agency location near you. Your peace of mind is our top priority.

Exciting Announcement: New Features Coming to ClosingLock on October 1st!

Mark your calendars for a game-changing innovation just around the corner! We are delighted to introduce brand-new features in ClosingLock, officially launching on October 1st.

At Access Title Agency we are dedicated to enhancing your real estate experience, and ClosingLock is a significant step towards achieving that goal. This cutting-edge platform will transform how we secure your funds and sensitive information during real estate transactions. With ClosingLock, you can trust that your investments are protected with state-of-the-art security measures. We’ve already safeguarded over $200 billion, and we’re committed to keeping your assets safe for years to come.

We prioritize your success above all else. ClosingLock is designed to serve your long-term interests, ensuring that your real estate transactions are not just secure but also prosperous. Whether you’re a real estate professional or a consumer, ClosingLock offers a seamless, user-friendly payment process. ClosingLock securely receives earnest money deposits, giving real estate agents, brokers, and title insurance professionals peace of mind, knowing that the funds they receive are legitimate and trustworthy.

In today’s digital landscape, threats like Business Email Compromise (BEC) attacks are on the rise. ClosingLock provides an added layer of security, keeping you ahead of potential risks. We can’t wait for you to experience the future of real estate security with the new features of ClosingLock.

Click the Link below to download a flyer for more details

Closing Lock

Yani Cardentey Appointed Secretary of NAHREP

Yani Cardentey
Business Development Specialist, Access Title Agency

Exciting Announcement: We are thrilled to share that Yani Cardentey has been appointed as the Secretary for the NAHREP (National Association of Hispanic Real Estate Professionals) Naples Chapter for the year 2024! 🎉

Yani Cardentey is deeply honored to have been entrusted with this prestigious role, and she is incredibly excited about the opportunities and challenges that lie ahead. Serving as the Secretary for the NAHREP Naples Chapter is a tremendous responsibility, and Yani is fully committed to working diligently to contribute to the growth and success of the organization.

The NAHREP Naples Chapter represents excellence, diversity, and empowerment within the real estate industry, and Yani is proud to be a part of this esteemed community. As Secretary, she will be working closely with the dedicated team to ensure the smooth functioning of the chapter’s operations. Yani will be responsible for maintaining accurate records of meetings, managing correspondence, and assisting in the organization of events and initiatives.

This role holds great significance to Yani as it allows her to actively contribute to the advancement of the local real estate community. By collaborating with industry professionals, she will have the opportunity to foster meaningful connections, share knowledge, and promote the core values of NAHREP. Yani looks forward to playing a role in facilitating networking opportunities, educational programs, and advocacy efforts that benefit the members and the community at large.

Yani would like to express her gratitude to the NAHREP Naples Chapter for entrusting her with this position. She is grateful for the support and confidence bestowed upon her and is committed to fulfilling her responsibilities with utmost dedication and professionalism.

She also extends her appreciation to the members of the chapter who have shown unwavering support throughout her journey. The encouragement and belief in her abilities mean the world to Yani, and she is truly humbled by this opportunity to serve the members.

Yani invites all members of the NAHREP Naples Chapter to reach out to her with any suggestions, ideas, or concerns. Together, we can create an inclusive, thriving, and dynamic real estate community that fosters growth and success for everyone involved.

Once again, congratulations to Yani Cardentey on her appointment as Secretary for the NAHREP Naples Chapter for 2024. It is an exciting and honorable opportunity, and we are confident that with her leadership, the chapter will achieve remarkable accomplishments in the year ahead.

Here’s to an inspiring and prosperous 2024 for the NAHREP Naples Chapter!

Why We Love Where We Live – Miss Lexi’s

In this episode of Why We Love Where We Live, we are taking you to Naples, Florida, to a one-of-a-kind boutique salon for girls called Miss Lexi’s Place. It is a salon that offers services for girls to get salon pampering just like their moms! From manicures and pedicures to updos and hair glitter, it is a wonderful place for girls to enjoy the excitement of salon treatments. The idea for the salon was inspired by the owner’s personal experience, as can be read on their website (https://www.misslexisplace.com/):

“My name is Alexia Walulik and 6 years ago I found myself on a journey from Ohio to sunny Naples, FL. Looking for a brighter future for myself and my daughters, it became a goal of mine to move to Naples and establish myself as a business woman and positive member of the community. As a young, single mother with 2 little princesses, I have been no stranger to hard work. As a girl trying to find herself, I struggled with my self-confidence, self-acceptance, and something I think is so important to this day, self-love. So as the creator and face of my business, Miss Lexi’s Place, I will continue to strive to boost the self-confidence and self-expression of young minds. Exploring my creative and social outlets, I built may passion for creativity and beauty and led to the exciting realization I wanted to open a kids spa. With the support of the wonderful families that I have grown so close to, I am so elated I now have the pace to create my own magic and happiness.”

Miss Lexy’s offers individual services, packages, and even hosts parties for groups of girls. We explored the “BFF Package”, which included manicures, pedicures, hairstyles, BFF photo session, create your own lip gloss or scrub, and a runway fashion show. The girls had so much fun at the salon and will hold onto the memories they made for years to come.

Sharon Green Promoted to Assistant VP

Sharon Green

Access Title Agency is thrilled to announce the promotion of Sharon Green to the role of Assistant Vice President (AVP).

Sharon is an invaluable member of our team and has consistently demonstrated exceptional dedication, leadership, and expertise in her role as Compliance Manager. Her hard work, commitment, and passion for our company’s success have truly set her apart.

As AVP, Sharon will be taking on new responsibilities and leading our team to even greater heights. Her strategic thinking, problem-solving skills, and ability to inspire and motivate others make her the perfect fit for this role.

Please join us in congratulating Sharon on this well-deserved promotion! We are confident that she will continue to excel and make significant contributions to our organization’s growth and success.

Naples Area Real Estate Update – September 2023

Inventory is selling quickly, and prices are stable in the Naples housing market. According to the August 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), closed sales of homes in Naples during August increased 17 percent compared to July closed sales, and 1.9 percent to 702 closed sales from 689 closed sales in August 2022. Brokers who reviewed the Market Report are confident sales during the second half of 2023 could outperform sales during the second half of 2022, unless we experience another major disaster like a hurricane.

Another promising factor that supports this expectation is the steady rate of new listings, which increased 2.6 percent in August, and contributed to the 7.2 percent increase in inventory for the month.

The median closed price in August increased 5.2 percent to $605,000 from $575,000 in August 2022. According to the August report, activity in the condominium market fueled many of the increases reported. As such, there was a 7.7 percent increase in the median closed price in the condominium market compared to a 2.2 percent decrease in median closed price for the single-family home market; a 10.1 percent increase in new condominium listings compared to a 3 percent decrease in new single-family home listings; and a 25.5 percent increase in condominium inventory compared to a 3.7 percent decrease in single-family home inventory.

Typically, one of the slower months for activity, August’s showings decreased 19 percent to 21,269 showings from 26,191 showings in August 2022, which might also explain the 9.4 percent decrease in pending sales in August to 811 from 895 in August 2022.

Home Prices Hold Steady in July

While much of America grapples with unfamiliarly high interest rates that have stalemated the resale home market, broker analysts reviewing the July 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), point to data that shows home sales activity in Naples has remained steady for the past year despite several interest rate increases. Yet, even as cash sales for homes in Naples decreased from 66.7 percent in January to 53.5 percent in July, the overall median closed price of homes in the first seven months of 2023 has continued to increase compared to most months in the first seven months of 2022.

“Activity for our area has flatlined compared to last year, but it is still trending higher than before the pandemic,” said Molly Lane, Senior Vice President at William Raveis Real Estate. “While there might be fewer homes to show buyers right now, a significant number of sales are still occurring, and there’s nothing to indicate that home prices will drop suddenly.”

The July Market Report’s total sales data showed 81 fewer homes sold in July compared to July 2022, an 11.9 percent decrease to 600 closed sales from 681 closed sales. On the other side of the spectrum, pending listings (homes under contract) in July increased 6.3 percent to 798 pending listings from 751 pending listings in July 2022, which illustrates our market’s steadiness. Also, the percent of list price received this July is steady at 96.1 percent compared to 97.9 percent in July 2022. In July, days on market increased 115.4 percent to 56 days from 26 days in July 2022, the lowest reported in the history of NABOR®’s Market Reports. Incidentally, before the pandemic, days on market averaged over 100 days (104 days in July 2019).

“Fortunately, new listings continue to be steady each month,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “But they aren’t replenishing inventory at the rate we need, and so inventory has been dropping for each of the last four months.”

New listings in July decreased 15.4 percent to 810 new listings from 957 new listings in July 2022. Before the pandemic, new listings supplemented an already very healthy inventory level. Data showed there were 5,200 properties for sale in Naples in July 2019 compared to 2,583 properties listed for sale in July 2023. But while new listings, closed sales, and pending sales activity have almost returned to 2019 levels, overall inventory has not.

As inventory faded away during the homebuying frenzy of the pandemic years, median closed prices rose by over 50 percent. In July 2019, the median closed price in Naples was $325,000. But in July 2023, the median closed price increased 9.2 percent to $595,000 from $545,000 in July 2022.

“I don’t think sales in our area have stalemated,” said Hughes. “Looking at the data, we’re no better and no worse than we were a year ago. In fact, historically speaking, we’re only 500 sales off from the number of closed sales reported in the first seven months of 2019. And that’s with half the inventory. This says so much about resiliency and the desirability of homeownership in our area.”

Celebrating Susan’s Remarkable Career: A Memorable Retirement Party

Retirement is a significant milestone in one’s life, marking the end of a dedicated professional journey and the beginning of a new chapter. Recently, our company bid farewell to Susan Gutknecht, a remarkable employee who retired after years of exceptional service. To honor her invaluable contributions and express our gratitude, Access Title Agency hosted a joyous and memorable celebration.

Susan’s tenure with our company has been amazing. Over the years, she consistently demonstrated unwavering dedication and professionalism. She has left an indelible mark on our organization. Susan’s expertise and knowledge have been invaluable assets, making her an irreplaceable member of our team.

The retirement party held in Susan’s honor took place at Coopers Hawk in Naples, where attendees enjoyed signature wines, cocktails and delicious food. As the evening progressed, a heartfelt speech was delivered by Access Title Agency’s owner, Greg Kosin, along with a special message sent from Access Title Agency’s founder, Karen Kohler, who was unable to attend the event in person. Susan was presented with a personalized gift, symbolizing our appreciation for her years of dedicated service.

We at Access Title Agency are so excited for Susan as she embarks on this new chapter of her life. She will be greatly missed.

Watch the heartwarming video below:

 

July Bonita Springs-Estero Real Estate Update

Comparing July 2023 to July 2022, new listings are down, closed sales down, days on market up median prices are up, while average sales price is up for single family homes in the Bonita Springs Estero market. The same is true for condo sales.

Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales.

Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month’s sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next