Search This Blog

Thursday, March 22, 2012

Coldwell Banker Sees Signs of Housing Recovery

The 2012 Housing Recovery
Coldwell Banker President, Budge Huskey, COO, gives his outlook on the national real estate market today on Fox business news channel. Please take a moment to listen to his interview by clicking on the link below. I think one of the most interesting points he made, is that although some naysayers continue to wait on the sidelines, predicting the upcoming "glut" of foreclosures which are due to hit the market will continue to keep prices down, Mr. Huskey confidently states the demand for these properties will absorb this possible inventory. I agree. Naples Real Estate is on the upswing, as i stated in a post earlier this week. Please refer to that post for some of the most recent, pertinent statistics. Please call The Harris Peppe Team if buying a home or condo in Naples is in your future. We look forward to hearing from you soon, and we hope to earn your business. Thank you, and make it a great day, The Naples Real Estate Blogger

Monday, March 19, 2012

Naples Florida Real Estate Update

Recently released statistics, from The Naples Area Board of Realtors [NABOR], report more good news! Closed home sales, as well as sales pended, have increased 5% over the past 12 months. This data tracks all home and condo sales in Collier county excluding Marco Island, which has its own board. In addition to the increase in sales, our inventory is way overall decrease of 17% less than what was active a year ago! There is so much data--so many statistics...but, to simplify and make the outline more concise I wanted to concentrate on the numbers which were the most striking to me.
  • Overall pending sales increased 55% in the $500,000 to $1 million category February 2001 to February 2012.
  • Closed sales increased 13% in the $1 million to $2 million category 12-month ending.
  • Overall closed sales increased 70% in the $2 million plus category during that same time period.
  • Median closed sale prices are up 5%.
  • Inventory decreased 17%.
  • Over all pending sales in the $300,000 to $499,999 range are up 11%.
  • Naples Beach [which includes zip codes 34102, 34103 & 34108] pending sales increased 17% and closed sales increased 20% 12-month ending.
  • 855 homes pended last month in the "under $300,000" price range. Presently there are 646 homes active in this price range. That equates to approximately a 9 month absorption rate.
  • The overall market experienced 8,349 closed sales for the 12 months ending February 29th 2012 compared to 7,929 closed sales for the previous 12 month time range.

A year ago, as released by NABOR on their site on March 18th, 2011, home prices were up 10%. With the current trend of low inventory, low interest rates and continued demand from both investors and foreign buyers as well as baby boomers looking for a vacation home or permanent Florida residence, I feel confidant that number could double this year! What I have referred to as the 'trickle up' effect is now causing low end prices to increase, pushing middle pricing higher and demand for middle pricing to gain great strength. ~And, well priced luxury real estate is also breaking records!

Lower inventory and increased demand creates an urgency that effects value. A perfect example: Chip Harris had a listing in Old Naples, on and off the market, for approximately 4 years. Like so many sellers, they got into the trap of continuing to chase the market down with price reduction after price reduction. This is not uncommon as many agents will agree. Last month they received 4 offers within 24 hours of another...One of the buyers who did not get his offer accepted wanted to keep his contract in back-up position. Chip then called other owners in the same complex, and that buyer ended up paying more for another unit in the same building! Cindy Carroll, a principal of the appraisal firm of Carroll & Carroll was recently quoted as saying, "The market is on fire!" I couldn't agree with her more!

For additional information about a particular Naples neighborhood or statistics about a certain price range, please contact a member of The Harris Peppe Team today at 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

Wednesday, March 7, 2012

Coldwell Banker's Latest Ad Campaign!

The Value of Owning a Home
Coldwell Banker recently released their 2012 ad campaign at the annual business conference in New Orleans. The creative agency selected by Coldwell Banker to head up this campaign is Siltanen & Partners in El Segundo, California. A very different approach to their marketing was adopted this year in order to play up the emotional reasons for owning a home. Personally, I have always felt that owning a home had more to do with those emotional connections and the memories that are created...those things which make a house a home. I've been selling this way for 31 years! In this day and age, when the idea of home ownership has taken such a beating, I believe it was a very good idea for the world's largest real estate company, Coldwell Banker, to play up these less-than-rational reasons for buyers to consider a home purchase today....Quite simply, people buy homes because they want to own a piece of the earth....they want to hang a picture, paint a wall, have a pet, plant a tree. Real estate agents who get this, who really understand the privilege it is to be such an intricate part of this process will always fair well, even in tough times.
The Harris Peppe Team at the Coldwell Banker Previews office in beautiful downtown Naples, Florida has always embraced this higher calling. "We don't sell 'bricks and sticks'...we sell a place where babies grow up, where backyard barbecues celebrate birthdays and graduations, where grandparents watch their grandkids to play & swim...We sell lifestyles." I'm in awe of this responsibility everyday.
Check out this video and let me know what you think. Oh, and tell me if you can figure out whose voice that is narrating! ~click here for the Coldwell Banker "Value of Owning a Home" ad.
Call us today if you would like to work with one of the agents on our team. We look forward to hearing from you soon and we hope to earn your trust and future real estate business. 239.370.0574
Thank you, and make it a great day!
The Naples Real Estate Blogger

Thursday, March 1, 2012

Need vs. Desire

Would you like to have some Naples Real Estate in your shopping cart?
Vacation and resort destinations have an entirely different set of rules when it comes to 'buyer urgency' when compared to other markets. Jerry Murphy, managing broker at The Park Shore Coldwell Banker office, always says, "There are two kinds of buyers in the world...those that 'need' to buy and those that 'desire' to buy". That goes for just about anything...real estate is no exception. Here in Naples, the vast majority of the buyers we work with are those 'desiring' a new home or condo. Obviously, it is easier to sell to someone who needs something...regardless of the price tag, big or small: Whether purchasing a new dress for an upcoming event vs. browsing the rack at a local department store for for a car because your lease is up vs. looking for a sports car because you've always wanted one...OR buying a home due to a job transfer vs. visiting Naples Florida and wanting a vacation home; the motivation or lack thereof remains the same with any of the above purchase comparisons. I think this might be one part of the equation that sellers sometimes forget to factor in during negotiations. In many cases they "need" to sell, but the prospects looking at their properties are just "desiring" a vacation home.
If you would like to have some sunshine and palm trees in your shopping cart, please contact one of the members of The Harris Peppe Team at 239.370.0574 today! It is their privilege to help you find your heart's desire here in paradise! Give them your real estate wish list and you'll be on your way! If you would prefer to do your own "on-line shopping" first, they welcome you to log onto their award winning website,, where you can search for ALL of the homes and condos presently for sale in our multiple listing system.
Thank you, and make it a great day!
The Naples Real Estate Blogger