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Friday, October 28, 2011

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! 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

Tuesday, October 25, 2011

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

Wednesday, October 12, 2011

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.