New Website Celebrates our Beautiful Gulf!

There's a wonderful new website that will help all of us keep up with the latest news about our beautiful gulf. The Gulf of Mexico Alliance in coordination with the Rookery Bay National Estuarine Research Reserve in Naples have launched an informative new website about our coast. The site will feature events, podcasts, interviews with scientists about marine life, links to worthwhile videos, a media center; even online games! Log on today an enjoy learning about our beautiful gulf coast at SupportTheGulf.org I took the Photo attached today, looking north at Lowdermilk Park...a great place to take a mid-day break! If you'd like a home or condo on The Paradise Coast, where you can enjoy taking a 'break' on a one of the world's most breathtaking beaches, please call The Harris-Peppe Team now! 239.370.0574 Come on, get a little sand between your toes! (Click on the photo to enlarge)

Celebrating Success!

I just got back to the office having attended a luncheon at a beautiful country clubhouse in Lee County, about a 30 minute ride from my office in downtown Naples. One of the perks in this business...visiting pretty places. Grandezza is lovely; it was a wonderful venue for the informal gathering of the top 25 agents in the SW Florida Region for the first 2 quarters of 2009. Hosted by our Regional Senior Vice President, Sue Wolverton, the networking was fabulous! I always look forward to these luncheons as a chance to learn from the best of the best...a small intimate group of real estate professionals committed to excellence all sharing ideas and success stories. There's never been a time that I haven't come away with something. More importantly, I get to meet new contacts each time. Today I met an agent who focuses in the Ft Myers area and specializes in golf course communities. I am certain we will be referring buyers and sellers to one another. I also reconnected with an agent on Marco Island with whom I have not seen in awhile...and I made a new friend, Bob, an agent right in the north Naples office that I had never met before. One agent I met from the Cape Coral office does podcasts on YOUTUBE...he's a "Rock Star"!

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It was interesting to me to learn that the combined Coldwell Banker offices of Lee, Charlotte and Collier Counties closed sales are up over 40% compared to the first 2 quarters last year. As an example of comparison, the Sarasota area (also in our region, but in another MLS system) was up only 11%. Naples usually leads the pack: first one in...first one out! Also, the SW Florida region led the state in sales to foreign buyers...62% of the states closings occurred in our region! This is the first time we outperformed Miami and Orlando areas.

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On the Coldwell Banker statewide website, our vision is stated as this: To Be the Preferred Gateway for Exceptional Real Estate Experiences. After today's meeting, I can confidently say, that both myself and my colleagues are dedicated to fulfilling that vision. Please call the Harris Peppe Team if you have any questions about the real estate market in SW Florida. 239.370.0574 Whether you are a first time homebuyer or looking to buy your luxury dream home in paradise, it will be our privilege to assist you. Looking forward to making your next purchase an 'exceptional real estate experience'.

Naples Real Estate Update

We are well into August now and July stats are in, and it is mostly good news!

The Harris-Peppe Team is busy! We are showing homes daily, writing offers and several of our listings have gone under contract. Many of the prospects we are working with are saying they believe the bottom is here or close...They're right! Here is a recap of what is happening in the Naples MLS. Looking back at July, our market was very strong considering the economy and the financial environment. Some of this can be attributed to the first time home buyers taking advantage of tax credits, but certainly not in the numbers other parts of the state and around the nation are experiencing. A lot of the buyers we are working with will be retiring in 5 to 7 years, but they are buying now because they recognize the time is right! In July 2009 there were 665 residential closings in Naples according to the SunshineMLS database. They ranged from condos selling for less than $100,000 to a single family home in the prestigious Port Royal community for $6,995,000. 44 of the 665 closings were Previews Properties (listed at or above $1 million). The median sold price in June 2008 was just under $240,000. In June 2009, it fell to just under $180,000, which is up from March 2009 when it hit a 4 year low of $165,000. 340 of the 665 closings were cash transactions, not uncommon in Naples. 70 of the 665 closings were Short Sales with a median price of $144,900, and 202 of the 665 closings were Foreclosures with a median price of just under $100,000. 997 Residential properties went under contract (Pendings) in July 2009 as compared to 563 in July 2008. Currently there are 8,199 Active residential listings in Naples. Listing inventory generally peaks each year in January, so we do expect this number will increase as we get closer to the end of the year. However, it is important to note that our absorption rate is now calculated at an 18-month supply vs a 37-month supply just one year ago! Like any commodity, a home's value will follow supply and demand trends. The increase in REO properties will continue to apply downward pressure on the properties in the lower price points. It remains a price driven market all the way around. Buyers want to see value! One thing we will always have going for us regardless of all these numbers...it's warm and balmy in Naples Florida in February! Thinking about becoming one of "snowbirds", call today 239.370.0574 or register for our best buys online at http://www.naplesrealestate.com/