We Are Now In 50 Countries!

Coldwell Banker Expands to 50 Countries!

Coldwell Banker Real Estate LLC signed an agreement yesterday that expands the Coldwell Banker brand's presence in France, and adds Monaco! With the addition of Monaco, the Coldwell Banker international network is now represented in 50 countries and territories on six continents worldwide! Coldwell Banker France and Monaco is based in Paris, led by Laurent Demeure, president and chief executive officer of Demeure S.A., previously known as Demeure Immobilier. The company's luxury branch is called Demeure Prestige. Founded in 1920, the group was very instrumental in developing France's real estate industry.

Jim Gillespie, chief executive officer of Coldwell Banker Real Estate LLC said, "We are thrilled that Laurent and his talented team have joined the Coldwell Banker system to give us a renewed presence in France. Obviously, gaining a presence in Monaco, one of the world's most desired destinations is a major addition to Coldwell Banker Previews International, our luxury marketing division that caters to the affluent. We believe Laurent's firm aligns very well with the Coldwell Banker Previews brand, combining a rich history with outstanding core values." 

Demeure was quoted as saying, "We think the Coldwell Banker brand has great potential for growth in France and Monaco. [Both] markets are holding steady, despite the recent economic conditions. [We] have relatively low home prices, a wonderful culture, and 'love for all things French' continues to drive interest from foreign investors while Monaco obviously attracts interest from affluent buyers around the globe."

It is partnerships like these that truly come to symbolize the strength behind the global Coldwell Banker brand. The Harris Peppe Team and NaplesRealEstate.com is proud to be a part of this franchise that has unparalleled business relationships around the world. We have the potential to become the world leaders in the luxury property market!

Short Sale Pilot Program

A national average tells us that less than 9% of short sales listed will go through to closing! One in every 173 housing units in Florida are more than 30 days late on their mortgage payment. Approximately 30% of the listed homes and condos are "distressed"...80% of those are "underwater", or in a short sale situation. An example of the huge learning curve that all of us in the real estate industry have had to deal with in the past few years: Florida's largest home loan mortgage company had 50 employees in their foreclosure department a year ago...now they have 1,400 employees in that same department! ~ Most lenders have inadequate staffing for the number of loans that are in default. Another large national lender had over 57,000 new short sale requests in February, 2010 alone in Florida! At that same time, the same lender only had 12 REOs (foreclosures) listed in Collier County (Naples). Obviously, the short sales far outnumber the foreclosures. We need to develop the best practices to expedite short sales and increase their closing success percentages! One of the greatest challenges we, as real estate professionals face, is managing buyer's expectations.  With such low success rates, we MUST find better ways to communicate with lenders, thereby creating more opportunities for today's buyers AND sellers!

In an effort to increase the service we provide, our Coldwell Banker affiliate: Sunbelt Title, recently implemented a pilot program and created a Short Sale Assistance Center. It is designed to help coordinate and facilitate communications between the seller, the Coldwell Banker listing associate and the lender throughout the short sale process. Eventually this will be a statewide program utilizing the Sunbelt Title branch offices around the state with the main assistant center located in Tampa, Florida. A Short Sale Packet has been designed to help streamline the process.

For additional information about Sunbelt Title Agency and their short sale program which is being offered to all Coldwell Banker listings that qualify as short sales, please call us today at 239.370.0574.  For a list of homes and condos for sale in the Naples area, you can register on The Harris Peppe Team website at NaplesRealEstate.com.

Thank you.

Naples Real Estate Market Trends

Just another follow up to my most recent post (see June 9th, 2010) regarding some interesting trends going on in Southwest Florida. Here's a link to a couple of charts that give a good, clear picture of the strengths and weakness in our present market condition. Click HERE For additional information about the Naples Real Estate market, please call The Harris-Peppe Team today! 239.370.0574

Interesting Naples Real Estate Stats

It is hard to believe it's already June! This year is flying by, isn't it? Here's a brief recap of some of the more interesting *statistics about the local real estate market here in Naples Florida:

• Currently there are 2,270 residential properties under contract in Naples per the MLS. This includes listings that are still considered "Active with Contract" [awaiting contingencies to be met or waived], and those that are "Pending" [all conditions of the contract have been met]. On June 1st 2009 there were 1,792 residential properties under contract in the MLS. That is approximately a 28% increase.

• Of the current Active with Contract and Pended Contracts, 1,036 went under contract in May. This figure peaked in March at over 1,200 units.

• 73% of those residential properties currently under contract are listed at or below $300,000. Interestingly enough, that figure was 74% for the same time period in 2009.

• Of the 2,270 properties presently under contract, 129 are listed at or above $ 1 million dollars [Previews Properties]. In 2009 that number was 58 out of 1,792 units under contract. That is a 57% increase in pended contracts of Previews Properties!

• In 2009, January 1st through May 31st there were 202 closed residential sales in the $1 million and up price point. In 2010 YTD there have been 321 closed sales in that same price point. 

• Presently there are 7,625 Active Listings in Naples per the MLS. This is approximately a 9% drop in inventory compared to the same date last year.

Please call us directly if you have any questions, or if you would like information concerning today's best buys! 239.370.0574 ~Or email us by clicking HERE. Thank you and make it a great day!

*This report was written on June 1st, 2010. All information is deemed reliable. Data is derived from the SunshineMLS.

The Coast Is Clear

In Naples, the coast is clear!

The coast of Florida has miraculously been blessed with weeks of winds blowing mostly from the north and east, keeping "the spill" away...for now. This wind direction is the opposite of normal for this time of year!
(photo insert taken on 05/31/2010 between Naples and Marco Island-click on picture to enlarge)

Chip and I have not had many inquiries about the oil spill, but it did come up as a topic of discussion yesterday at our office's weekly business meeting. Coldwell Banker provided us with the following State of Florida LINK which will direct you to information about the Deepwater Horizon including live video feeds, trajectory maps and press releases. We were encouraged to make the link available to our customers. For buyers that might be hesitant to make offers on properties located right on the gulf front, a local attorney is working on an addendum that could become part of a sales agreement giving the buyer an opportunity to cancel a sale should oil end up on our beaches.  Another helpful site which is providing good information about our beaches is the VISIT FLORIDA site.   

Although the spill has not affected us directly, the magnitude of this disaster could ultimately affect every living thing on our gulf coast.  As reported yesterday on several social network sites, in response to mounting public pressure, the federal government decided that BP should carry the cost of constructing barrier islands along the Louisiana coast.  They will be paying over $360 million dollars for this project, which they will not be in charge of managing nor constructing.  BP has already provided $170 million to Louisiana, Alabama, Mississippi and Florida. They have also paid approximately $42 million in compensation to people and companies affected by the spill.  For more information about the BP funding of the barrier islands and other related stories you can click HERE.  BP presently has 7 different projects underway working to stem the flow of oil. Over 13,000 workers on over 500 vessels are out on the water everyday working the spill. Let's all continue to keep these workers in our thoughts and prayers, and hope for a solution to this challenging situation soon. 

For additional information about Naples gulf front real estate availability for rent or for sale, please contact us today at 239.370.0574. Thank you.    

It's Hurricane Season~Be Prepared!

Today, June 1st, marks the first day of the 2010 hurricane season. This will run for six months, ending November 30th. Here are a few facts about hurricanes, as well as a few helpful websites that I'd like to share with you.

Did you know that for hundreds of years, hurricanes in the West Indies were named after the particular saint's day on which the storm made landfall? Using a woman's name became customary after a novel called "Storm" was written in 1941 by author George R. Stewert. In 1951 the United States adopted the plan to name storms after the phonetic alphabet...Able, Baker, Charlie...But, then in 1953 the weather sevice returned to only using female names. This officially ended in 1978, when some believe was due in part to the feminist movement, when names from both genders were used to designate storms in the Pacific. One year later, male and female names were included for the Atlantic Ocean storms, too! It has remained that way ever since. Once a system with a counter-clockwise rotation is identified, and a sustained wind of 39 mph is measured, the storm is named. A list of this year's names, as well as other good information for storm preparedness can be found on The National Hurricane Center's website.

I am also including, for those of us in Naples Florida, a link to Collier County's Emergency Management website. This site offers important suggestions such as having a family plan, among other things. Keep in mind, this blog post was not wriiten to alarm you.  Hurricanes are a fact of nature. Consider this: We are notified days in advance of an upcoming storm. All in all, we are very fortunate to live in paradise...we just want you to be prepared!