Naples Florida Real Estate Increased 17%

The Naples Area Board of Realtors 2012 Annual Report

The Naples Area Board of Realtors 2012 Annual Report was recently released with some good information about sales within the greater Naples area. This report tracks and provides comparisons of both single family homes and condos sales in 2011 and 2012, and breaks them down into price ranges and location segments. Here are some of the *statistics which I found to be particularly noteworthy:

• Overall closed sales increased 9% in 2012 over 2011. The price range between $300,000 to $500,000 saw a 20% increase. The greatest jump was in the $500,000 to $1 million category where Naples saw a 29% jump!
• Over all inventory decreased by 13%. Sales that are pended with contingencies are still included in the inventory number. 
• Overall median closed price increased a remarkable 17% from $175,000 in 2011 to $204,000 in 2012. 
• The sales along the beach, Naples Coastal areas, increased 15% with over 2,000 closed sales in 2012.
• Presently in the Naples geographic areas there are only 5,676 active listings.

To view the entire report visit: Naples Area  Here you will also find the 4th Quarter 2012 Market Statistics. If you would like additional information, or a specific neighborhood analysis, please call anyone on The Harris Peppe Team. We are standing by to assist you with all your housing needs. 239.370.0574

We can see that 2012 was a very good year, the numbers don't lie, but I think 2013 is going to be even better! The unemployment rate in Collier County dropped below 8% to 7.8% last month. Tourism is up, and even the commercial market is seeing improvements. We are gaining momentum. I predict this is going to be a strong, sustainable recovery. Buyers this season are already saying, "I should have bought last year!"

For a virtual tour of all our listings log onto our award winning website today at: www.NaplesRealEstate.com or to search only $1 million plus Luxury homes and condos in Naples log onto www.NaplesPREVIEWS.com .  

Thank you as always for reading my blog. Please let me know if you would like me to do research on something of particular interest to you.

Make it a great day!

The Naples Real Estate Blogger


*data derived from the Naples multiple listing system: SunshineMLS

Newly Listed Waterfront Home on the Market in Naples Florida

Perfection at its Finest!

Welcome home to the pinnacle of waterfront living in prestigious Royal Harbor.

The Royal Harbor area neighborhood in Naples Florida is comprised of approximately 550 waterfront single family homesites with direct access to the beautiful Gulf of Mexico via Naples Bay. Deep-water channels are especially enticing for boating enthusiasts. The quiet streets in Royal Harbor offer a wonderful variety of design styles and some of the very best waterfront values in Southwest Florida. Although located on the east side of Naples Bay, Royal Harbor is just a few minutes to the beach and is located within the city limits. The new outstanding entrance to this nautical community is flanked on either side by the Naples Bay Resort which offers a personal luxury hotel, restaurants and specialty shoppes. 

The Harris Peppe Team has been selected to market this outstanding residence. Here, casual luxury meets classic style in this 5 bedroom masterpiece which takes full advantage of the cul-de-sac location. Beautiful views of the intersecting channels from almost every room, the direct access property has over 150; on the water! The home offers over 8,500 sf including a balcony and private bath off every suite. The kitchen is perfect in every way and features the latest in gourmet "must haves"  such as Sub-zero and Wolf appliances, Miele dishwasher, maples cabinetry and exotic granites.  The hickory flooring was shipped raw and handscraped & finished on site. No detail has been over looked in this captivating residence awaiting only the most discriminating buyer.

For additional information or for a private tour of this exceptional home, please call The Harris Peppe Team at the Naples Florida Coldwell Banker Previews office on Fifth Avenue South today: 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

Real Estate and the "Fiscal Cliff Bill"

Real Estate and the "Fiscal Cliff"


On January 1st, 2013 the Senate and House passed H.R. 8, legislation to avert the so called "fiscal cliff". The bill was signed by President Obama on January 2nd, 2013. The National Association of Realtors provided a summary of real estate related provisions in the bill, which I thought you would find informative.

Real Estate Extensions:

• Mortgage Cancellation Relief is extended for one year to January 1st, 2014.
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and retroactive to cover all of 2012.
• Leasehold Improvements: the 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through all of 2013 and retroactive to cover 2012.
• Energy Efficiency Tax Cred: The 10% tax credit, up to $500. for homeowners for energy efficiency improvements to existing homes is extended through 2013 and also retroactive to cover 2012.

Other Provisions:

• Capital Gains: The rate stays at 15% for those top earners of $400,000 individual and $450,000 joint return. After that any gains above those amounts will be taxed at 20%. The $250/$500K exclusion for sale of principle residence remains in place.
• Estate Tax: The first $5 million dollars in individual estates and $10 million for family estates are now exempt from the estate tax. After that a rate of 40%, up from 35% will be in place. The exemption amounts are indexed for inflation.
• Pease Limitations: There is a return to the "Pease" limitations on itemized deductions for high income earners. Under the agreement, the value of itemized deductions are reduced and permanently repealed for most taxpayers, but will be reinstituted for high income filers. "Pease" limitations will apply only to individuals earning more than $250,000, and joint filers earning above $300,000. Under the formula, taxpayers will lose the value of their total deductions up to a total of 20% reductions. The Pease limitations were first enacted in 1990, and named for Ohio Congressman Don Pease. The limitations were continued throughout the Clinton years then began phasing out in 2003. They were completely eliminated in 2010-2012. The reinstitution of these limits has less impact on the mortgage interest deduction than a 'hard dollar' deduction cap, a percentage deduction cap, or a reduction in the amount of mortgage interest deduction that can be claimed. 

I hope you have found this information helpful. Please do not hesitate to contact a member of The Harris Peppe Team if you have any comments or questions related to real estate in Southwest Florida

Thank you, and make it a great day!

The Naples Real Estate Blogger

*The Naples Real Estate Blogger does not have an official position on the H.R.8 legislation.

Happy New Year from Downtown Naples!

Happy New Year!

Season is in full swing! The activity on 5th Avenue South is wonderful...I love this time of year. The downtown calendar is filled with fabulous events. Click here to get a full calender of the Fifth Avenue South Naples Events!

My personal favorites are the Art Shows! The talent in this town is amazing! The first show, in January, slated for the 5th & 6th is located on Park Street off 5th Avenue South...Then another on the 12th, held in Cambier Park, is sure to please folks looking to buy fine art and crafts from some of the local artisans. There's something to please one and all: Big Band Jazz Concerts, Outdoor Movie Night at Cambier Park, Chalk Art on 5th, The Naples Players will be performing Barefoot in The Park, The Naples Daily News 1/2 Marathon on the 20th, The Martin Luther King Day Parade, and so much more! Don't forget to join us for The 5th Avenue South "Evening on Fifth", always on the 2nd Thursday of the month from 6:30 to 9:30. The restaurants and shoppes stay open and many offer terrific specials and great sales! Come on down to Fifth Avenue South and enjoy all the wonderful activities that our fair city offers. There's only one downtown Naples...and it's 5th Avenue!

Please stop in to The Coldwell Banker Previews International office at 550 Fifth Avenue South and say hello to The Harris Peppe Team! We have been selling The Naples Florida Lifestyle since 1981, and we look forward to meeting you and hope to earn your business.

Thank you, and make it a GREAT YEAR!!

The Naples Real Estate Blogger