Naples Florida Real Estate Update

Inventory Is Down ~ Inquiries Are Up!

January is now behind us, and Easter is early this year, which means we are now technically 1/3rd the way through our "season". There are a lot of buyers in the market place....open houses, floor time opportunity, sign calls and Internet leads have all increased substantially. Even the media, for the most part, is reporting good news on the real estate front. Inventory is way down, and in many cases when working with buyers, in just about every price range, we are having trouble finding quality listings that are priced right.

Here are a few examples:

• Presently there are only 2,636 Active single family homes for sale in all of Naples.
• 265 of the 2,636 are listed as "short sales"
• There are 701 single family homes in MLS priced below $300,000., and of those 181 are listed as short sales, which is nearly 70% of all short sales on the market.
• 2,373 single family homes sold and closed in Naples which were listed at or below $300,000 in the past 12 months. Therefore, based on the 701 currently for sale, this equates to approximately a 3.5 month absorption rate. Those buyers looking for decent low-end housing are running out of options. Many of the listings that are selling are being purchased by investors.
• Contrary, there have been 370 single family homes sell in Naples in the past 12 months listed at our above $1 million.
• Presently there are 735 single family homes Active in the Naples MLS priced at or above $1 million. The Naples luxury real estate market is still soft when looked at as a whole, except in those areas where inventory in the under $1 million price point has diminished, such as Olde Naples or Naples waterfront Properties.

If you would like information about any specific neighborhood, or for information about what we believe are today's BEST BUYS, please contact any member of The Harris Peppe Team. We look forward to hearing from you soon, and we hope to earn your business. 239.370.0574

Thank you and make it a great day,

The Naples Real Estate Blogger

*data derived from the Naples multiple listing system, SunshineMLS, info deemed reliable but not guaranteed.

Naples Real Estate Update

What is happening today in the Naples Real Estate market?

Just released, The NABOR Market Report has some exciting and interesting statistics about the current state of the real estate market in Naples Florida. Several factors are coming into play regarding value, primarily supply and demand. The 2011 housing inventory ended at a 5 year low. Specifically, the number of properties listed below $300,000., which has been the driving force behind our recovery, are way down. There has been a 21% drop in inventory in this price range. This is the lowest level of housing available in the under $300,000 homes and condos since 2007! Of those currently active in this price point, there are only 771 single family homes. This is 'pushing' the average price up in the under $500,000 range. Presently there are nearly 1,600 fewer listings available this January than there was a year ago. This translates to fewer choices for today's buyers.

Sales and average sale prices are increasing across the board. The Previews listings, those listed at or above $1 million have seen the largest increase in both pended contracts and closings. The last quarter of 2011 compared to the last quarter of 2010 saw a 38% increase in the number of closings between $1 - 2 million dollars! The over $2 million luxury homes and condos increased 12%. When you take the under $300,000 closings out of the equation, the overall median closed sale price increased 2%.

Some of the areas where The Harris Peppe Team focuses much of their business are the Old Naples area [NA06], and Naples Waterfront, [NA 07 & NA08] comprised of Port Royal, Aqualane Shores and The Royal Harbor area. The graph above is a stunning visual of the trend of the average price of single family closed sales in these waterfront communities. [click on graph to enlarge].

Presently in Old Naples there are 72 active single family homes available. Only 12 are priced below $1 million. There were 63 single family home closings in 2011, this reflects are fairly balanced market, and those listings on the best lots will sell if priced well this season.

On the water in the Royal Harbor area there currently are 44 single family homes on the market. Only 17 of them are listed below $1 million! Last year there were 38 total closings in the Royal Harbor area. Again, we are seeing just over a one year supply...that is quite a recovery when you take into consideration those neighborhoods had a 9.6 year supply in April of 2007. Here prices are a bit more scattered, but again the best lots priced right will sell. Also, the number of inventory homes in both Old Naples and on the waterfront with gulf access is minimal. If you are looking for a newer home in any of these communities you have very few choices.

People ask me my opinion about what the cynics call the "shadow inventory"...and it is my feeling that our market is in good shape to take on that inventory. Keep in mind, most of the short sales and foreclosures are not in the high-end neighborhoods.

Well, I hope you found this little recap informative. Please call The Harris Peppe Team today to assist you with your Naples Real Estate housing objectives. We are here to help you any way we can. 239.370.0574 and we are always interested in your feedback!

Thank you, and make it a great day!

The Naples Real Estate Blogger

*information derived from SunshineMLS and is deemed reliable but not guaranteed.

Good Intentions

Who is it that said the road to heaven is paved with good intentions? I'm not sure, but if that's the case, I'm well on my way. I had a lofty goal this year: I wanted to post to my real estate blog at least 3 times each week. I had, what I thought, was a fairly easy schedule to implement, and I had a list of wonderful suggestions from some of my faithful blog followers as to the type of content they hoped for...I had every good intention...I was committed...and now I'm beginning to feel like I should be 'committed'.....along comes 'season' and BAM! I had forgotten what it was like to be this crazy-busy! I mean, we are busy all the time, but this month just seems busier than Januaries past...with that being said, I promise, there will be some year-end stats from 2011 coming your way soon...

Thank you, and make it a great day!

The Naples Real Estate Blogger

Naples featured Business of the Week

Hi there! It has already been a crazy first 9 days of 2012. Wow! The feedback I've gotten from the last question posed online regarding content was overwhelming! Thank you all for your emails! I have already decided to change one thing because of the result of asking for your suggestions. Our "Select Vendor of the Week" will now be called "Naples featured Business of the Week". This will also allow me to feature restaurants and galleries and other such businesses that don't really 'qualify' as vendors per se. That being said, The Harris Peppe Team is pleased to feature The Mangrove Cafe restaurant on Fifth Avenue South as our very first selection of the new year. The Mangrove Cafe has been consistently featured on our annual "Chip's Picks" and featured on the restaurant page on our award winning website for many years. It is the longest existing restaurant on Fifth Avenue South! Their motto is "Think Global, Eat Local"! They are ranked #1 on tripadvisor.com of the over 450 restaurants in the Naples area. It is one of my favorite downtown restaurants, and my two favorite entrees on their diverse menu are The Sweet and sour Snapper & the Maddonini Chicken! Both amazing! They have a fabulous special which they refer to as The Mangrove Cafe Stimulus Package. Every evening, between 5 and 9PM you can get any 2 entrees on the menu along with a salad, bread AND a bottle of wine for $35.00! No kidding...it is phenomenal!

The Mangrove Cafe is located at 878 Fifth Avenue South. They can be reached at 239.262.7076 or you can view their menu on their website: The Mangrove Cafe. In addition to our "Chip's Picks" they have also been awarded "Best Martini" by Gulfshore Life Magazine, "Best International Menu" by The Naples Daily News, and "Best Creative Menu" by Naples Illustrated Magazine. *Make your reservations today--you might just run into The Naples Real Estate Blogger, too!

Thank you, and Make it a GREAT day!

The Naples Real Estate Blogger

*please tell them The Naples Real Estate blogger sent you!

The Unveiling of a New Year of Blogging!

Greetings Naples Real Estate Blog Fans!

We are nearly one week into the new year and I am trying to come up with some fresh ideas to increase activity on our blog! One thing which I am going to try to do this year is keep a "patterned pace" when posting. I've learned several tips from fellow bloggers, and more regular posting seems to be one of the keys to successful blogging. Keep in mind, when I began to blog 4 years ago, only 3% of the real estate population blogged. That percentage has increased substantially, but as of this writing, I only know of two other agents in my office, of over 80 agents, that blog. Of course, I'm not referring to the "micro-blogging" done on Facebook or TWITTER --I'm talking about a real, honest-to-goodness, consistent blogging! So, with all that being said, I am looking to my faithful followers for any ideas and content suggestions. My intention is to select a local Naples vendor or restaurant to feature every Monday. On Wednesdays I will feature one of The Harris-Peppe Team listings, upcoming open houses, recent price reductions or news and accomplishments of one of our team members. Then on Fridays, I will post about trends in Naples real estate, local statistics, links to news worthy articles, best buys, and other information that I believe will be both interesting and [hopefully] entertaining! I've even thought of maybe doing a monthly "Where in Naples Am I?" with a prize for the first follower to guess my location! Anyway, I am very excited to continue and improve my postings. Since 2007 I have blogged over 300 posts. It is very time consuming, but the results have been extraordinary, and the business we have gotten from this is excellent. Most of my audience isn't ready to buy right now, but I can't tell you how many emails and phone calls we get from folks who tell us that when they are ready to buy their dream home in Naples Florida, they would not consider working with any one else except The Naples Real Estate Blogger!

Thank you again for reading our blog. We wish you a very Happy New Year, and we look forward to hearing from you with any fun ideas and suggestions!

Sincerely,

The Naples Real Estate Blogger

2012 : The Year We Have All Been Waiting For...

"An optimist stays up until midnight to see the new year in...A pessimist stays up till midnight to make sure the old year leaves."

~Bill Vaughn

So, has there ever been another year written about as often as 2012? Of course, 1984 comes to mind...as does the new millennium. Ah yes, waiting for the clock to strike on December 31st, 1999 at 11:59 PM--I'm sure you remember where you were at that moment....ten, nine, eight, seven, six, five, four, three, two, one...Wasn't the world supposed to end then, too? But, the Twenty-12 phenomenon has crept beyond ones own imagination into the mainstream with impending fears of cataclysmic events that are predicted to change the world as we know it...Movies have been made [the disaster film made in 2009: 2102], scholars have studied Mayan history and culture [it's their calendar that many of the predictions are based upon], and New Age beliefs about galactic alignment are taking notice among even the less mystic-minded souls...Doomsday theories have spread like wildfire, especially with the use of Internet, Youtube...Dan Brown's book, The Lost Symbol...why even The History Channel aired a special series about "The Last Days on Earth" and "Nostradamus 2012". The Discover Channel also aired "2012 Apocalypse"...supposedly more evidence that earthquakes and volcanoes will throw us all into a black hole...just more doomsday hype?

What do you think all the hype is about? And, what do you think we should be taking seriously, or not so seriously? What are you planning to learn from all this sensationalism, and where do you intend to be on December 21st, 2012? I'm sure, if you are being honest, you've thought about this. For me? Well, I've seen Gregg Braden live, I've read his books...I'm interested in what he says and very open to his explanations. I've studied Mesoamerica prophecy, although not as in-depth as many, but enough to feel pretty comfortable about hosting Christmas Eve at my house again next year--

I believe this...Typically, in trying times, the greater the challenge the greater the lesson. An example; if you have ever spoken to someone who is a cancer survivor they will tell you that event changed their life forever...and almost always for the better---Difficulties teach us to prioritize. They teach us to remain calm during a storm. They teach us to live life to the fullest. They teach us to appreciate those things that we might overwise take for granted. They teach us that "this too shall pass..." They bring out the best in us that we might otherwise have never been called forth to dig as deep to find our inner strength...So, it's not necessarily the END OF THE WORLD, but rather the end of the world as we know it...from the smallest scale to the largest. And maybe, just maybe it will be a kinder, gentler world--now wouldn't that be wonderful! I believe everyday can be our "doomsday" or the "first day of the rest of our lives"...Only you get to decide.

Let's make 2012 the best year yet!

Thank you, and Happy New Year,

The Naples Real Estate Blogger

Business Planning 101

Well, here we are, getting ready to flip our calendars over to yet another year. It'll probably take more than a few times of mindlessly writing 2011 on checks and letters before the new year sinks in and twenty-12 becomes more natural. It's been a good year...we met our business goals, our children and grandchildren are all healthy, my mom is still getting younger with every passing year, we took a few great vacations...Yes, life is good in paradise. As I am writing this Chip is sitting at the desk beside me working on spreadsheets for our income taxes and I have been busy putting the finishing touches on our 2012 Business Plan. I've been writing a Business Plan for many years, and only once in the past 20 or so years did I make the choice to go it alone without the aid of a written plan. [It's a long story]. As it turns out, that ended up being a pretty good year, yet the very next year I went back to a written plan. I'm just one of those people that stays on track more easily if I have a plan. I think that's true of most folks. Personally, I will be very happy on the day I can chuck all that planning aside for a more serendipitous life, but for now, and for my sanity I plan, I organize, I color code.

For those of you reading this that are considering writing a business plan, maybe even for the first time, here's a little guidepost to get you started.

#1. You've got to have goals, but more importantly, you've got to have strategies for obtaining your goals: tactics and systems in place that support and direct you to the results you desire.

#2. I recommend, in addition to a business mission statement that you also have a personal mission statement. One or two concise sentences that sum up who you are. I've had the same personal mission statement since 1995...never changed one word. It's the purpose of my life.

#3. You must have a marketing plan. This should include a budget that you stick to throughout the year.

#4. Surround yourself with happy, successful, energetic, positive, proactive people.

#5. Keep your plan in a place where you can refer to it often.

Yup...that's about it. Like the post title says, "Business Planning 101"...it really doesn't have to be complicated. You probably already know what you have to do to meet your goals...the question now becomes are you willing to do the work?

If buying or selling a home in Naples, Florida becomes one of your goals, please call us. It would be our privilege to assist you in meeting your Naples Real Estate goals! 239.370.0574

Good luck to everyone in 2012! I think it's going to be an unbelievable year!

The Naples Real Estate Blogger

22 Shopping Days 'til Christmas!

Have you made your "list" and checked it twice? As any of you who know me well know, I am a list maker...I have lists for everything!

1. The everyday "To do" list
2. The "I never go to the Grocery Store without a" list
3. The Books I want to read list
4. The Birthday and anniversary cards for the month ahead list
5. The Things that need to get done around the house list
6. The Guests attending our Christmas parties [yes, I'm having more than one party] list
7. The What to cook at each party list
8. The Christmas gift list...card list...

Well, you get the picture. It comes from being a first born, organized, sometimes compulsive, cannot say "no", overachiever...lists are what keep me sane! I actually like lists. When I get a little behind, I've even been known to put things on my lists that I've already done...gives me a sense of accomplishment..."check!" ~Have you seen the commercial on TV lately of the woman who goes to the check out and asks the clerk if he can read anything on her list and he says, "No, there's a line through everything."...and she smiles and gives him a "Boo-ya"!

Anyway, I know a lot of you reading this like lists, too. In fact, one of the most requested blog post suggestions I've gotten recently is for me to post lists of what's selling and what I think are some of the best buys around Naples. So here's a short recap of what happened in the market in November, and what is currently for sale in some of the neighborhoods where The Harris Peppe Team lists and sells:

• There were a total of 231 single family homes and 243 condos that closed in Naples in November 2011. Down less than 1% over the same time period a year ago.
• Of those 474 closings, 89 were listed as "Short Sales"...that's about 18%
• 43 of the 89 short sales were priced below $300,000!
• 98 were listed as "foreclosures"...about 20%
• 91 of the 98 were priced below $300,000!
• There was a total of 33 closings priced at or above $1 million
• 3 of the 33 were short sales, and only 1 was a foreclosure!
• There was a total of 20 single family homes that sold last month in NA 04 to NA 08 [this includes but is not limited to Pelican Bay south to Port Royal along the beach and includes Old Naples, and the Royal Harbor Area as well] 3 of the 20 were short sales. There were 49 condo sales in these same areas, and only 2 were short sales.
• Presently there are 67 single family homes for sale in Old Naples [NA 06]. Only 9 are listed below $1 million! The least expensive home for sale in Old Naples as of this writing is priced at $549,000
• There are 139 condos listed in Old Naples starting at $109,000 for a 1 BR/ 1 BA on up to a luxurious villa for $2,550,000
• There are 102 homes for sale in NA 05 [Crayton Road corridor]. With just a handful priced below $500,000, on up to a waterfront home boasting 5,400 sf built in 2004 with an asking price of $5,250,000.
• One of the hottest neighborhoods is NA 15, the area between US 41 and Goodlette Road, which showed a 7% improvement in the past 12 months as compared to the previous 12 months. Presently there are 46 single family homes available. 15 of the 46 are listed as short sales, and 36 of the 46 are priced below $300,000.

Well, that's my list for the day--I hope it helped you get a better picture of what is happening in some of the areas in Naples Real Estate. Please call us if buying a home in Naples is on your list! 239.370.0574

~And remember, Naples is usually Santa's last stop!

Thanks, and make it a GREAT day,

The Naples Real Estate Blogger

*Data is derived from the Naples multiple listing system, SunshineMLS and is deemed accurate but not guaranteed.

Select Vendor of the Week

MARTIN"S COOLING & HEATING, Inc.

It is my absolute pleasure to recommend Martin's Cooling and Heating, Inc. We recently hired them to do service work at our own personal residence. All the employees were hard working, personable and skilled. We have hired them many times before, and have referred them to many of our Naples customers over the years. They always do a fabulous job. They are reliable, and set a high business standard both in their job performance and knowledge of the industry, as well as their ethics. Their prices are very competitive..their website states that their main goal is to provide quality service and honest pricing.

The fact that they are a family owned and operated business is just one more reason why we feature them on the Select Vendor list on the home page of our website: NaplesRealEstate.com Please feel free to contact them today to find out how they can help you to improve the air quality of your home or condo. You can schedule a service call directly by logging onto their website: MartinsCooling.com or by calling them directly at 239.430.1685

A good rule of thumb is to change your air filters on the first day of each month, or on the day your electric bill comes in the mail as a reminder! Now, that's a "cool" idea!

Hope you are all having a great day, and remember, if you need anything related to The Naples Real Estate market, please give us a call: 239.370.0574

The Naples Real Estate Blogger

The Power of Being Thankful

The power of being thankful...it's not your typical real estate blog post...

I started keeping a journal when I was a teenager, although back then it was called a diary. Having moved from New York, to New Jersey, to California, to Texas, to finally Naples, many of those 'Notes To Myself' have been lost...or buried in boxes in storage...or simply read & re-read a few times before making their way into a shredder or burning bowl ceremony, where letting go and healing was much better than hanging on...Over the years I have come to believe that Being Thankful is one of the 2 most important aspects of living a good life...[The other is forgiveness]. Being Thankful...For EVERYTHING! Good and bad. Days that run smoothly like a gentle ocean breeze: T h a n k y o u...and, Days that wipe you out like a storm trying to demolish everything in its path. T h a n k y o u. I know, no "I KNOW", that it is all for my highest and best good...even the challenges, no ESPECIALLY the challenges! I mean, seriously, have you read a newspaper lately, watched the news? Can you find dozens of things to complain about, to be sad about, to be angry about, to worry about? Oh course you can...but can you also find thousands of things for which to be grateful? I am certain you can. ~and, I am certain that once one begins to count blessings, everything in life turns around. Someone once said, "You cannot be stressed and grateful at the same time." I agree with that!

Today I keep a Gratitude Journal, and I write in it almost every morning....I began this ritual a few years ago. Today I randomly opened it up and 'thumbed' through it...I couldn't help but smile when I read some of the entries: "I am grateful for...When Chip makes the coffee, A friend stopping by unexpectedly, The Yankees in post-season, Chocolate biscottis, Finding a $10 bill in my pocket, Firefighters, Three sons who call me to just say I love you mom, Having choices, my purple scarf, The ability to see the blessing in each situation, Clean sheets, Old photographs, being able to hear music, rainbows, The books on my coffee table"...well, you get the picture. Of course, it goes without saying that we are all grateful for the obvious things in life: Our loved ones, our health, our jobs, our talents, our homes...and sometimes, even those big things are taken for granted. But, being thankful for things when they are NOT going our way...Ahhhh, now that takes a bit more work indeed. I had a little medical scare this year that turned out to be a false alarm--I didn't tell anyone but Chip. Because I try to practice being thankful for everything, as soon as I got the initial news [and took that first deep breath], I simply said, 'Thank you God for whatever you hold in store for me. I know it is for my highest and best good, and the highest and best good for all those around me, and I can't wait to see the blessing that will come of it." This simple prayer completely turned my energy around. Being grateful gave me a different perspective.

So, on this very special holiday I would like to just say Thank you. Thank you to all the wonderful people who have added so much to the success of NaplesRealEstate.com...Thank you to our amazing customers, loyal friends and colleagues, the vendors, the staff at Coldwell Banker, our neighbors on Fifth Avenue South, The Naples Area Board of Realtors...Thank you that I get to sell homes in paradise...and, last but not least, Thank you to Chip and Sam!

Happy Thanksgiving!

The Naples Real Estate Blogger

Naples Waterfront Real Estate

What's happening on the water in Naples Florida?

There is a very limited supply of new construction homes for sale in Naples Florida. Currently there are a total of 2,585 homes for sale in all 'NA' zones in Naples according to our local multiple listing system, SunshineMLS. When doing a search of the Naples MLS for single family homes presently for sale that have been completed in the year 2011 there are only 109. Interestingly enough, when I reduce that search down and request only those homes found on the water with direct gulf access [no bridges], again built in 2011; there are only TWO single homes, currently Active in the MLS, that are ready for occupancy! One is located in Port Royal listed at $8,450,000, and the other is in Royal Harbor [address links to a virtual tour and additional information and photos] located at 2178 Tarpon Road which is being offered at $2,890,000. That's it! TWO houses! If I extend that search to include homes built since 2005, using the same criteria: waterfront with direct gulf access, there are only 15 currently for sale in Naples! These range in price from the mid-$2 millions up to $14,900,000. Then, even if I recalculate and go back to homes built since 2000, there are still less than 30 homes currently for sale in Naples with direct gulf access. So, if you are looking to buy a brand new construction home on the water, and you don't want to go through the process of building, your choices are limited. The good news is, the homes which are available for immediate occupancy are exquisite.

I invite you to contact us today to get a preview of these lovely residences. Or perhaps you would like to do your own research first. If you click on this highlighted link you will be directed to a landing page on our "Naples Previews" website which allows you to view Luxury homes and condos in Naples Florida in boating communities with prices starting at $1 million and up.

For information, a private showing, or a color brochure with floor plans of any of these homes please call The Harris Peppe Team today. 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

*This information derived from SunshineMLS and is deemed accurate but not guaranteed.

Fifth Avenue South, The Heart of Old Naples

I work on the prettiest street in the world [click on image to enlarge]. Sitting at my desk, I face out in front of a big picture window...it's amazing to me that i don't spend more time daydreaming...As I look out, I can see the beautiful people passing by...Those who are lucky enough to live here are usually dressed for work, and the snowbirds that recently began arriving again for season can be spotted at the sidewalk cafes...while those that are here for shorter visits are quite noticeably "on vacation". This area of Naples called Old Naples, snugged up against the Gulf of Mexico, was founded in the late 1800's by pioneers with a vision for a place to winter in the sun. The allure remains today, as it is my opinion, few places on earth offer the beauty, ambiance and activity that you can find on Fifth Avenue South. Restaurants, bistros and coffee shoppes...World-class galleries, live theater and unbelievable boutiques. The mile-long avenue is alive with things to do each and everyday. There are holiday themed parades, open air art shows and city festivals. Why, just tonight we are celebrating our Evening On Fifth from 6-9PM...an event held on the 2nd Thursday of each month that brings out musicians, restaurant specials and sidewalk sales! There are days when I pinch myself, to think that I live, work and play in this magnificent place.

For information about the downtown area or receive a 2012 Downtown Naples Guide, please call The Harris Peppe Team today. 239.370.0574 Not only can we help you buy a home or condo, we can also assist you with accommodations, recommend a fine eatery, and direct you to the historic landmarks.

Fifth Avenue South is referred to as The Heart of Old Naples--come for a visit, and it will be clear to you why.

Thank you, and make it a great day!

The Naples Real Estate Blogger

Coldwell Banker Lists New Previews Residence

Perfection in Grey Oaks, Naples Florida

This magnificent estate is situated on a 1+ acre cul-de-sac homesite where you can savor the views of the preserve, lakes and greens of The Pine course from every vantage point. The home was designed by renowned architect Stofft & Cooney, and built in 2005 by Borelli Construction. It has 6 spacious bedrooms, 7 full and 2 half baths. Some of its many amenities include a detached guest residence, 4 car garage parking and motorcourt, a wonderful outdoor living area with a summer kitchen & outside fireplace...you haven't seen a more beautiful pool & gardens. Interior features include a gourmet kitchen with every imaginable "must have", a 850+ bottle climate controlled wine cellar, private elevator and state-of-the art home theater. Additional photographs and a virtual tour of the property can be seen by clicking HERE.

This world class estate epitomizes the best of luxury living in prestigious Grey Oaks!

For a personal tour of the home, or to request a brochure and floorplan of the property, please call Chip Harris today: 239.370.0574 ~Price upon request.

Thank you, and make it a great day!

The Naples Real Estate Blogger

   

Select Vendor of the Week

The Harris Peppe Team of the Coldwell Banker Previews office on Fifth Avenue South in Old Naples is proud to announce this week's select vendor of the week is Carroll & Carroll, Inc. They are an independent fee appraisal firm practicing in both Lee and Collier counties. The principals, Ray and Cindy Carroll, are a brother sister team. Their family were some of the earliest pioneers in Naples, dating back to the late 1800's. They believe "that kind of history brings insights and a sense of community" uncommon in such a fast growing region. Ray and his dad, Ernie, practiced together for 10 years overseeing the apprasial division for a local real estate company before forming Carroll & Carroll in 1984.

We have personally used the services of Carroll & Carroll for over 25 years. They have both a residential and commercial division. As their website states, they are 'Experienced and Reliable'...their integrity is second to none. Their mission says it all. "Carroll & Carroll, Inc translates their unique experience of the history, geography and economy of southwest Florida into appraisals that are trusted and reliable."

If you are considering buying or selling in the Naples area, and would like a consultation with Carroll & Carroll, I am certain they would be very receptive to your questions. You can reach them at info@carrollandcarroll or call or email any member of The Harris Peppe Team today for more information. 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

"Real Estate is NOT Real"!

Again we are faced with the media presenting erroneous information to consumers based on data that is inaccurate and far too broad-based to carry water. As one of my colleagues so eloquently put it earlier today in remarking about various newspaper and magazine accounts of the current real estate market, "Real Estate is NOT real, it's the perception that is real"!

As stated in CNNMoney this week, according to FISV, a financial analytics company, home values are expected to fall another 3.6% nationwide by next June. Naples Florida was used as an example as a region that will be hardest hit, with an anticipated drop of another 18.9%" In addition FISV states that Naples has already dropped 61%. What they, and others, fail to take into consideration is the vastness of Collier County and the gaping range in housing values from one zip code to the next. The areas around Naples which have experienced the greatest setbacks are now some of the most resilient. As an example, Golden Gate Estates, a rural community of Collier County with a Naples mailing address, has seen values decrease as much as 75%! As short a time as only 3 years ago that community had approximately a 7.2 year's supply of inventory! Presently there is less than a 6 month supply, and enough demand to absorb any shadow inventory that might come up on the market in the foreseeable future. Across the board we are seeing signs of stabilization. The trend lines in almost every Naples neighborhood are up!

The Naples Luxury Real Estate market has shown strong signs of recovery. Cindy Carroll with Carroll & Carroll, Inc. a Florida State Residential Real Estate Appraiser, was guest speaker at The Coldwell Banker business meeting last week. According to her market statistics: Old Naples single family homes currently have a balanced supply with 64 Active listings, 7 pending and 62 sold in the past 12 months. The Moorings/Park Shore/Coquina Sands single family homes currently has a shortage of inventory: 104 Actives, 16 pending and 115 closed in the past 12 months. Port Royal and Aqualane Shores both have approximately a 1 1/2 year supply of inventory. Royal Harbor, which had a 9.6 year's supply in April of 2007 now has about a 1.5 year supply...talk about a 'come back'!

Despite the challenges that we, and everyone else in the real estate industry are facing today, The Harris-Peppe Team remains bullish on the housing outlook in Naples. Just a few factors that we believe back up that opinion are: 1.) It just snowed as far south as Virginia last week and 1.6 million people are still without power....people want to spend winters in paradise! 2.) 78 million baby boomers will begin retiring within the next 10 years and many of them will be looking for housing, either to buy or rent, in warmer climates, and #3.) Our interest rates remain at record lows, making housing more affordable than ever for the 35% of the buyers in Naples that finance!

The media may try to do their best to scare away the investors, snowbirds and our international friends, but these factors will come into play more times than not. We all just need to continue to get the word out there that Naples is a safe and beautiful place to live, with well priced listings and a limited inventory.

If you would like information about a particular neighborhood or zip code in Naples, please do not hesitate to call The Harris Peppe Team. 239.370.0574

We welcome your comments. Please make it a great day!

Thank you,

The Naples Real Estate Blogger

Select Vendor of the Week

Maxine's, Inc.

Maxine's Alterations & Tailoring was established in 1991. Two sisters operate this family business at 1033 5th Avenue North. I have used their services many times over the years and I cannot compliment their service and results enough! The very first time I went into this modest store was nearly 20 years ago...I had a favorite jacket with two front pockets that had ripped at the seam of one of the pockets when it got caught on a chair. I wasn't sure if they would be able to repair it well enough to go undetected. Well, they removed BOTH pockets and simply moved them up an inch on either side and 'voila', problem fixed! The rip was mended and ended up 'inside' the damaged pocket! I was hooked! I have referred countless friends and customers to Maxine's over the years. They do not advertise, and I don't believe they have a website. They depend on word of mouth to obtain new customers! NaplesRealEstate.com is proud to select Maxine's Inc as our Vendor of the Week! Please call them direct at 239.263.2884 for any custom tailoring or alterations!

Thank you and make it a great day,

The Naples Real Estate Blogger

Building Bridges

I don't use this platform for political commentary very often...but I just need to vent a little. It may actually not be a "political" statement at all, but rather a perspective on the nature of things as I see them right now. I've had people that I know, love and respect becoming very angry lately with what is happening in the world. I see them react in a most unfamiliar way and I hear them make judgements and say things that I never thought I'd hear them say...This is true of people on both sides of the political spectrum. Good, kind, loving souls who profess to not judge are spouting out irrational comments about everyone they don't see eye to eye with. I understand why people are angry, but I just don't see it as a solution. I personally don't think we can get from where we are today to where we want to be by continuing to be mad and angry. All these protesters would be creating a much better world if they weren't out there stirring up so much negativity, but rather went to volunteer at a soup kitchen or read to a lonely old person in a nursing home. The right blames the left and the left blames the right....Poor people blame rich people and rich people blame poor people. TV commentators on both sides are spewing hate-filled words.

There's a sign on the door leading into our office at work which reads, "Please take responsibility for the energy you bring into this place." It's an Oprah quote, and I love it. It really gets your head on straight when you get to work and you are immediately cognisant of taking responsibility for your attitude. I believe that what people practice on a small scale ripples out into their community, and ultimately creates the world as they perceive it. We need to be kinder to one another. We need to be more respectful of our differences. We need to take a greater responsibility for our own lives and quit blaming other people when things aren't going our way. We need to stop expecting the government to bail us out. When a neighbor is truly in need we will be there for them. Why? Because we humans are innately good, that's why! Let's turn off the news in the morning and at night, whether it's CNN or Fox, and let's begin and end our day doing a good deed, calling a loved one, volunteering, hugging a child, adding beauty to the world...Let's stop before we judge a republican or a democrat and try to find what we have in common rather than what sets us apart.

Today I choose to build bridges. Will you join me?

Thank you for your time,

The Naples Real Estate Blogger

Naples Real Estate 3rd Quarter Stats

Nothing indicates what is happening in the real estate market more accurately than listings going under contract. The graph below depicts pendings of Naples residential listings over the past 4 years, per the local multiple listing service: SunshineMLS. This is a clear illustration [click on graph to enlarge] of the peaks and valleys in our local market. Obviously, our pendings go up during "season"-- that just makes sense. But, what I am hoping to show here is the "trend line"...regardless of what is happening in markets across the country, we are definitely seeing an increase in sales in Naples Florida.

Here are a few more *statistics that I think you will find interesting:

1.) January 1st, 2011- September 30th, 2011: Total Closed Sales = 6,598.

This averages 733 closings per month.

We are on track for an 11% increase in sales this year over last year.

2.) January 1st, 2010-December 31st, 2010: Total Closed Sales = 7,837.

This averages 653 listings sold per month.

2011 Year-to-date, of the 6,598 closed residential sales:

• 3,000 were single family homes
• 1,800 single family homes were listed under $300,000.
• 586 of the 3,000 were 'short sales'., of which 78% were listings under $300,000.
• Of the 3,000 single family home closed sales year-to-date, only 17 were short sales listed at or above $1 million
• 709 of the 3,000 were foreclosed homes, of which 89% were listed under $300,000.
• 3,495 were condos/villas
• 2,505 condos/villas were listed under $300,000.
• 506 of the 3,495 were short sales, of which 94% were listed under $300,000.
• 552 of the 3,495 were foreclosed condos/villas, of which 96% were listed under $300,000.
• There was a total of 237 closed condos/villas year-to-date listed at or above $1 million. Only 1 of the 237 closings was a short sale.
• There haven't been any condos/villas closed year-to-date, listed at or above $1 million that were categorized as foreclosed properties.

A few more stats: Current inventory in Naples, residential listings, is down 18.5% over this same time period last year. With pendings up 11% and inventory down to approximately a 9 month supply, I believe we are beginning to see a seller's market again in some choice neighborhoods. The absorption rate varies from community to community, and I would be happy to do a more specific analysis for you. The lower priced listings are still driving the market, but there is no question we are seeing a dramatic rebound in the Naples luxury market. Also, the lack of inventory in new and newer homes due to the slow down in construction has created opportunities for sellers in neighborhoods built since 2000. We are even seeing multiple offers in some cases when homes and condos are priced fairly. There are also some fabulous values to be found in the "tear down" market in the neighborhoods along the beach and waterfront. Royal Harbor as an example, which had approximately a 9 1/2 year absorption rate just a few short years ago, now has less than a one year supply. Old Naples presently has 63 Active single family homes listed, whereas there have been 55 closings year to date...another example of less than a year's supply of inventory.

For additional details about The Naples Real Estate market, please call a member of The Harris Peppe Team today. We look forward to hearing from you soon and hope to earn your business. 239.370.0574

Thank you and make it a great day,

The Naples Real Estate Blogger

*The source of this information is compiled from data obtained from SunshineMLS. The accuracy is not warranted or guaranteed and should be independently verified if one intends to engage in a transaction based upon it.

Stunning Views of Moorings Bay

This truly is a remarkable opportunity to own a 3 bedroom, 3 bath condominium on Naples prestigious Gulf Shore Blvd. This home boasts a rare and magnificent 1400 square foot open air terrace overlooking Moorings Bay!The total area of this Naples condo is 3,479 square feet.

The private patio has access from all three bedrooms and the living room, making it a very livable floor plan which allows for wonderful entertaining possibilities~cocktail & dinner parties of more than 60 guests have enjoyed this fabulous space. All three en-suite bedrooms have large walk-in closets with built-ins. Beach access is across the street, and there are boat docks available at The Lucerne for owners to rent.

All condos are not related equal. Please come see why we think this is one of the best kept secrets in all of Naples! The Harris-Peppe Team at Coldwell Banker Previews International on Naples 5th Avenue South is ready to earn your business! 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

Ready or Not, Here "I" Come!

I can't believe we are more than half-way through September. Where has this year gone? And, it's not just me...everyone I talk to is saying the same thing. Honestly, today's newspaper fliers were filled with ads for Halloween decorations and winter clothes! You know what that means, don't you? We need to start asking ourselves, "Where are we having this year's office Holiday Party?" That, among the many other questions that we haven't had to ask ourselves in awhile...think about it...what questions do you have running around in your head?

We have already begun to see the arrival of the car transporters...much earlier than usual I might add. Who can blame them, check out the map to see today's highs in all of our feeder markets...yupper, there's already frost on the pumpkins in many areas! Typically we don't see the 18 wheelers with their cargo of automobiles rolling into town until mid-October. These cars, with their Michigan, Indiana and Jersey plates [to name a few] will soon be crowding our roadways, making illegal u-turns, honking their horns and running red lights. Now, don't get me wrong...I love our loyal snowbirds-- With the crowds come mostly good things. This is when we prosper. This is when all the service industries in Southwest Florida thrive. We look forward to the return of the snowbirds [just not their driving habits]. It is a good thing that they come back to this beautiful place someone named Naples long ago...It is a good thing that it gets so darn cold up there so that we can sell some of them pretty houses and condos in paradise!

So, ready or not, here comes "season"! Please be extra careful on the roads everyone...and please let us know if we can help you or someone you know find a winter home or condo in Naples!

Thanks, and make it a great day,

The Naples Real Estate Blogger

Congratulations Sam!

The Harris-Peppe Team is proud to announce that our A#1 marketing coordinator and team assistant, Sam Wells, has passed the Florida State Real Estate Exam! Sam has worked for us for nearly 8 years. Those of you who know her personally, or who have had the pleasure of working with Sam, know what an asset she is to our team. We are thrilled to make this announcement, and we hope you will join us in wishing Sam continued success in her career! It is our ultimate goal to provide our buyers and sellers the utmost in customer satisfaction. Our belief is that having a licensed personal assistant will enhance our services and create better communication with our customers.

SAM WELLS

As always, thanks for reading our blog, and make it a GREAT day!

The Naples Real Estate Blogger

Remembering 9.11

Please join us in keeping every soul affected by the tragedy of September 11th, 2001 in our hearts.

...We will always remember.

Taking a Break

I've been away. It's a funny thing...everyone who knows me, or should I say everyone who 'thinks' they know me, can't believe I didn't go through technology withdrawals during the past 6 days. I didn't. Usually, whenever I go out of town, whether it is off on our boat or up to our cabin, I bring along my trusty laptop and dependable aircard. Usually I stay connected. I manage my website and social marketing. I email. I blog. I facebook. Not this time. This time I spent a wonderful, long holiday weekend away from the office and away from the Internet. I did not go through any symptoms of withdrawal. I disconnected and stayed disconnected. I turned my phone on one time, on Saturday, to call my mom and Chip. Neither of them answered. That's ok. I left them both a message, and told them not to worry about calling back...I was turning my phone off again. [I did however use my phone a couple of times to check in on Foursquare] Once, I thought about going online at an Internet cafe', but the thought soon left me. I was so happy not to be so easily connected. Lucky for me, I had two amazing people covering for me in my absence. Chip & Sam. That definitely made taking a break easier. We should all take those breaks. Regularly. I'm back to work today. The phone hasn't stopped ringing. I've answered a dozen Naples Real Estate inquiries. I touched base on Twitter. LinkedIn. Facebook. I've read through and answered a lot of emails...and now, now I'm writing a short blog post. I thought I'd post about taking a break from technology. It's important to disconnect so that you can reconnect with those things in life that really matter.

Make it a great Day!

The Naples Real Estate Blogger

Happy Birthday Coldwell Banker

Happy 105th Birthday Coldwell Banker!

Coldwell Banker has made the dream of home ownership a reality for millions of families since first opening their doors for business in San Fransisco in 1906. We may be 105 years old, but we sure don't act it! We continually lead the charge with innovative technology, state of the art transaction management systems, and global marketing initiatives. Help me in wishing Coldwell Banker a happy birthday from Naples Florida!

Thank you, and make it a great day,

The Naples Real Estate Blogger

More Naples Real Estate Updates

A Diminishing Inventory in Naples Florida Real Estate

The Naples Daily News article from the weekend paper touted the continuing market stability of our local real estate values. According to The Naples Area Board of Realtors, key indicators such as 'pending sales, current inventory and the median closed price' show signs of real estate stability during these otherwise challenging economic times. Their report further states pending sales were up 2% in July 2011 when compared to July 2010. Another contributing factor is the decrease in non-traditional sales such as short sales and foreclosures. In one of my recent posts about waterfront homes in Naples I calculated that there were 214 homes for sale in the Naples MLS with direct or indirect gulf access. Of those only 12 were short sales and there weren't any foreclosures reported. According to NABOR, 'inventory continues to drop at a rate of 19%. Across the board we currently have less than a 9 month supply of inventory'. This is the lowest seen since NABOR began tracking absorption rates in April 2007. Since April 2007 inventory in Naples has declined over 5,000 residential units. Thanks mostly to smart money investors who are taking advantage of the great values!

Here is a synopsis of one aspect of our market which I believe will help illustrate the current trends in a very popular price range here in Naples, as an example:

Currently Active Single Family Homes priced below $500,000=1,300

When you add to that general search criteria more specific search parameters such as: Year Built 2000 or newer, homes with a private pool, located in a gated community, that number goes from 1,300 Active listings down to only 158 Homes for Sale in all of the NA zones in Naples. Now, take into consideration all homes that meet the very same specifications that have closed in the past 12 months: and there have been 298 closings. That equates to approximately 24.8 closings per month. Based on those closed sales and today's current inventory, we are left with only a 6.37 month absorption rate in that priuce range and specifications! Typically a 12 month absorption rate is considered a 'healthy market, therefore it is this writers' belief that we are experiencing a stabilizing real estate market in Naples Florida.

For additional information about homes for sale in all price ranges, please contact a member of The Harris Peppe Team today! 239.370.0574

Thank you, and make it a GREAT day!

The Naples Real Estate Blogger

data derived from the Naples area MLS is believed to be accurate but not guaranteed.