What is the Best New Listing in Old Naples?

Three Short Blocks to the Beach!

 

What is the best new listing in Old Naples you ask? Well, let me tell you about this charming first floor, end-unit, 2 bedroom garden apartment located just 3 short blocks to the pristine beaches of the Gulf-of-Mexico. The wonderful downtown attractions on Naples main street, 5th Avenue South, are at your back door! You are only 1 block from the shops and galleries, the world-class restaurants, live theater, parks and so much more! The vacation starts here! This is the address you've been waiting to find, with all the bells and whistles already in place. Recently updated, the kitchen and two baths are top-of-the-line, with finishes that you would normally find in much more expensive Naples condos! We would be happy to send you additional information, a color brochure or a virtual tour of the property! Email me at blogger@naplesrealestate.com

 

 

Other luxury appointments include: impact glass, tiles floors that resemble wood, granite, stainless appliances, new fans and lighting, and custom window treatment. The home comes turnkey furnished, so all you have to do is show up to start living the Naples dream!

 

Both bedrooms are spacious and light & bright and feature walk-in closets!

 

 

This Naples condo also features a private washer/dryer, additional outside storage unit and assigned parking. You really cannot beat the value, and if you are looking to lease the property, the investment factor can't be overlooked. Similar condos in the complex have commanded $5,000. per month during season.

 

If you would like to preview this wonderful new listing, please call The Harris-Peppe Team with The Coldwell Banker Previews office today! 1-239-370-0574

 

We look forward to hearing from you soon, and hope to earn your future Naples Real Estate business.

 

Sincerely,

 

The Naples Real Estate Blogger

 

 

 

 

 

Season is Not Over!

Naples Housing Market Remains HOT Heading Into Summer!

Naples Real Estate saw record breaking increases this season. Now, here we are, nearing the end of May, and we are still pretty busy. I had two buyer's over the weekend, both had been here during the winter...they came back to buy!  The summer promises to be just as active, as stated in the attached article from this week's press release in The Naples Daily News. Click here to read the story: Naples Bullish On Summer Real Estate Market.  The Naples Area Board of Realtors referred to the housing market as experiencing a "trifecta factor": 1. Low Inventory 2. Days-On-Market Average Decreasing 3. Median Home Prices Increasing.

To view the entire report, please go to:  NaplesArea.com

Naples has traditionally been a seasonal market...All indicators favor strong demand over the next few months. Even our rental agents are seeing an increase in summer reservations. I've had several calls myself from North Easterners, who normally vacation on the Jersey Shore, looking for alternative destinations. All price points are being effected by the "trifecta factor", entry level condominiums on up to the most exclusive Previews luxury residences. As always, even Naples real estate is local, so if you are looking for a specific community, please call on the team of professionals at NaplesRealEstate.com to assist you. 239-370-0574

Thank you, and make it a great day! 

The Naples Real Estate Blogger

     

Naples Florida Real Estate Update

MORE GOOD NEWS!

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 down...an 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 NaplesArea.com 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

Naples Real Estate-Old Naples Condo Update

Here is an example of what is presently happening in Old Naples....

So, we've had this one listing since January 2008....We began with an asking price of $499,000, which was right in line with the most recent closed sale at that time of $465,000. The property went on and off the market a few times over the years, while slowly chasing the market down, like many of the sellers...Numerous price adjustments later, and no offers; again in late 2011 the time had come to review the inventory and determine a list price for the upcoming season. It was the first time in a few years, when comparing the inventory to the closed sales, that we truly believed we had a "balanced" market. Taking everything into consideration, a list price of $299,900 was placed on the listing. This is a 1000 square foot 2 bedroom condo just a couple of blocks to the beach. Nothing fancy, no recent updating...But, it was turnkey furnished and had a nice community pool area and a lucrative rental history. Well, we got 4 offers last week on this listing, all within 24 hours of one another! Multiple offers? When was the last time you heard of "multiple offers"?

Currently there are 45 condos on the market in Old Naples priced at or below $300,000. Only 1 of them is listed as a short sale. In the past 12 months there have been 46 closed sales in this same price point in Old Naples...this is a very balanced market! And it's not just this price range; although this market segment still remains the driving force of our recovery in Naples...and of course, Old Naples is always very popular. Recently, I read that the "middle" price range of $500,000-$1,000.000 has seen a 29% increase this year over last year! That's healthy!

You should see the foot traffic on Fifth Avenue South! This place is bopping! Chip & I both agree that we haven't seen this much action downtown in a few years. It's exciting to be a part of all this activity.

For details or specifics concerning the Old Naples Real Estate market, please give us a call. There are still some excellent values available, and The Harris Peppe Team would be happy to assist you. 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

*information from SunshineMLS and is deemed reliable but not guaranteed.

Stunning Views of Moorings Bay

This truly is a remarkable opportunity to own a 3 bedroom, 3 bath condominium on Naples prestigious Gulf Shore Blvd. This home boasts a rare and magnificent 1400 square foot open air terrace overlooking Moorings Bay!The total area of this Naples condo is 3,479 square feet.

The private patio has access from all three bedrooms and the living room, making it a very livable floor plan which allows for wonderful entertaining possibilities~cocktail & dinner parties of more than 60 guests have enjoyed this fabulous space. All three en-suite bedrooms have large walk-in closets with built-ins. Beach access is across the street, and there are boat docks available at The Lucerne for owners to rent.

All condos are not related equal. Please come see why we think this is one of the best kept secrets in all of Naples! The Harris-Peppe Team at Coldwell Banker Previews International on Naples 5th Avenue South is ready to earn your business! 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger