Top 10 Turnaround Towns

Naples Florida Makes the Top 10 List!

Wow! 8 of the 10 turnaround towns that made the CNBC.com list are in Florida, and Naples made its first ever appearance! Check out more of the story by clicking HERE! Data derived from Realtor.com, the official site of The National Association of Realtors, showed clearly that many of those cities that once led the downturn in the real estate markets nationwide, are now leading the way to a turnaround! The list weighs a comparison from the last quarter of 2010 to the last quarter of 2011 and tabulates which towns have shown the most dramatic improvements based on a number of statistics. Naples Florida ranked #7, Miami was ranked #1! The only 2 towns NOT in Florida [are] Boise Idaho and Phoenix Arizona. One of the most striking statistics about Naples that CNBC documented was the fact that the "year-over-year" inventory was down a remarkable 35.94%! To answer the cynics who believe there may still be a shadow inventory lurking out there that will curtail the current trend upward  I say, "based on the current actives, pendings and closed sales, the demand will quickly absorb this possible inventory." 

There has never been a better time to invest in Naples Real Estate than NOW! Purchasing a home or condo, whether it is as a primary residence, a 2nd home, or as an investment, at today's low interest rates, is the best place that you can put your money right now!

For information about the local Naples real estate market, or specific neighborhoods in Southwest Florida, please call a member of The Harris Peppe Team today!  239.370.0574

Thank you and make it a great day,

The Naples Real Estate Blogger

A Reflection of Supply and Demand

The Coldwell Banker Residential Real Estate offices in Naples and Bonita Springs Florida recently had the honor of having Cindy Carroll as a guest speaker at their joint monthly business meeting. Cindy is a State-Certified Residential Real Estate Appraiser who I happen to go back with to the days when we were both picking up our kids at the same day care. In other words, she's been around the block a time or two, and her knowledge of the market is unsurpassed. Cindy shared with us some market statistics, some of which I found to be absolutely stunning. As a point of clarification, the dates noted, being referred to as the "date of survey" indicate closed sales in the 12 months prior to the survey date.

Here are a few examples of a reflection of supply and demand in the Naples Residential Real Estate from Carroll and Carroll:

• Aqualane Shores: Peaked at years supply in April 2007 with 3.63 years. Had only 7 closed sales the 12 months prior to July 2009, and presently has 43 active listings, 21 closed sales from May 2010-May 2011, and a current absorption rate of 2.05 years.
• Olde Naples/Single Family Homes: Peaked at 3.2 years supply in December 2008, presently has 77 active listings, down from the peak of 116 in April 2007. Today's absorption rate is just under 1 year.
• Olde Naples/Condominiums: Inventory peaked in April 2007 with a 4.6 years supply. As a comparison, There were 74 active listings in February 2005 and 172 closed sales in the 12 months prior to that date. Currently there is a 1.48 year supply.
• Port Royal: As far back as the survey was taken Port Royal has maintained approximately a 2 year supply. Absorption rate was 2.7 in June 2003, it was 2.35 in October 2008, 2.21 in April 2010, and currently with 61 active listings the years supply is 1.49 with 41 closed sales in the past 12 months.
• Royal Harbor: One of the most astonishing statistics comes to us from the Royal Harbor area. In April 2007 the years supply was 9.6 years! With 48 active listings at that time and only 5 closed sales in the 12 months prior to that date. Closed sales in Royal Harbor peaked in 2004 with 44 closings. Currently there are 38 actives, 27 closed sales in the past 12 months, and a 1.41 years supply-An amazing recovery!
• Moorings, Park Shore & Coquina Sands/Single Family Homes: The years supply in this area peaked in April 2007 at 3.7 and currently has one of the healthiest absorption rates at 1.07 years supply, 115 active listings, 34 pending, and 107 closed in the past 12 months!
• Moorings, Park Shore & Coquina Sands/Condominiums: Similar to the single family homes west of 41, the condos currently have a 1.29 years supply, and peaked in April 2007 with approximately a 2 1/2 year supply.
• NA 15: This is the area between 41 and Goodlette Road. Single family homes available was at a shortage in November 2010! Currently there is a .56 year supply, with only 39 active listings and 70 closed sales in the past 12 months. Three years ago this zone peaked at 3.5 years supply.
• Several other areas have seen shortages and a balances between supply and demand, they are: Golden Gate City currently at .28 years supply, Lakewood at .57 years supply, Naples Manor at .20 year supply, and Golden Gate Estates which had a shortage of inventory in November 2010.

Cindy shared several other communities with us, and I have information about Pelican Landing, Pelican Bay, Bonita Bay, The Vineyards, Quail Creek & Quail West, Pine Ridge and the Vanderbilt Beach areas. If you would like details about a neighborhood not mentioned in this blog post, please call The Harris Peppe Team today. 239.370.0574 We would be happy to do a no-obligation evaluation of either an area where you are thinking of investing or a home that you presently own.

Thank you, and make it a GREAT day!

The Naples Real Estate Blogger

Naples Florida Residential Pending Sales UP UP UP!

I'm a very visual person, comes from my art background I guess, but you have to admit, a picture can paint a thousand words. Take for example the chart below [click on picture to enlarge]. This graph depicts the Pendings month by month for the past 4 years in Naples Florida. Who can argue that sales are up? If this doesn't convince the buyers that are on the fence that it's time to make a decision I'm not sure what will. As for the sellers: If you are not getting offers, there is probably only one reason: You are overpriced! Inventory is way down, less than 7,000 Active Residential listings in the Naples MLS...remember when we had over 16,000 listings? It wasn't that long ago! Activity has remained brisk even into May! I remain very optimistic about the Naples Real Estate market.

If you would like additional information about the listings available in a specific neighborhood, and/or details about the activity that an area that you either live in, or are interested in purchasing a home or condo in, please call or email us anytime: 239.370.0574

Thank you, and make it a GREAT day! The Naples Real Estate Blogger

What is a QR Code?

Once again, Chip and I are leading the charge in new marketing ideas! According to Wikipedia, a QR Code is a "matrix barcode, readable by QR scanners, mobile phones with a camera, and smart phones. The code consists of black 'modules' arranged in a square pattern on a white background." The information encoded can be text, URL or other data--even artwork! Created in Japan by a Toyota subsidiary in 1994, the QR code is becoming one of the most popular two-dimensional barcodes in the world. The initial 'QR' stands for Quick Response as it allows the content to be 'decoded' at a very high speed! Although initially used for tracking parts in a automobile factory, QR codes today are being used in many different ways, including making real estate information quickly available: such as this barcode shown here. Users simply can generate and print their own QR codes for others to scan and use by visiting one of several free QR Code generating sites. The Harris-Peppe Team is now using these codes in all of our window displays, fliers in information boxes, mailings, and certainly print media where we are restricted by ad space issues. We are presently working on ways to retrieve data on how and when the codes are being scanned. This is the future folks! If you have *code reader capability, scan this matrix and let me know what you "see"! I think you'll find information about one of our fabulous waterfront listings here in Naples Florida...Now, isn't that just the best? I'm not sure who said this, but I agree..."You can't do today's job with yesterday's methods and be in business tomorrow." Thanks for 'reading', and make it a great day! The Naples Real Estate Blogger *Many Android phones now come with QR code readers already installed...also, Nokia phones running S60 3rd edition or newer, Blackberry phones running Blackberry Messenger 5.0 or more recent versions can scan using the "scan group barcode" option in the BBM menu.

What a Difference a Day Makes

The difference between September 30th and October 1st is this: One day it still feels like summer, the next day you're trying to decide at whose house will you be eating Chistmas dinner...The pumpkin decorations have been out at the stores for weeks, but I was still able to avoid that "the holidays are upon us" feeling....Until today! Turning the calendar page over, and having it read "OCTOBER" does it to me every year....the end of the year is near...I've already volunteered to be on the office holiday party committee...I will be taking my grandkids to Party World tomorrow so that they can pick out their Halloween costumes...I purchased my Thanksgiving cards today, and should have them addressed by Monday--at which time I will begin writing my Christmas card list...Our end-of-the-year business gifts have been ordered, weeks ago, so that I can get them out in November and avoid the December rush! My husband, Sam, my friends and family, all know how [for lack of a better word] organized  I am...some may call it something else...It's OK, I've been called worse things...

Anyway, for those of you who share this characteristic with me, why not plan ahead for the coming season, and check out these two wonderful listings in Glen Eagle Country Club. Naples Florida hasn't been this affordable in years! Click HERE and HERE to view the virtual tours of these wonderful, affordable condos located just minutes to downtown Naples...the beaches, the world class shopping, the gourmet restaurants, fabulous galleries and live theater, all only a few miles away! Under $200,000 never looked so good!

For additional information about these two condos, or other properties for sale in Naples golf course communities, please call The Harris Peppe Team today! 239.370.0574

Thank you, and make it a great October!!

The Naples Real Estate Blogger

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!

Naples Waterfront Real Estate Information

Currently, if a buyer asked me to find them a newer home (built 2007 or later), on the water in Naples with direct gulf access; there are presently only 16 to choose from in *MLS. These homes list from $2,195,000: a 2-story Bermuda-style 4 bedroom boasting over 4,300 square feet of living area (that's about $500. per sq ft.) with a beautiful pool, spa, waterfall, outside fireplace, summer kitchen, elevator, built-in electronics, wine cellar, top of the line appliances, etc etc...you get the picture--to a furnished residence on a southern exposure homesite in prestigious Port Royal with an asking price of $ 14 million! *The average list price per square foot of these homes built 2007 or newer is $585. per sq ft.

Of the 16 direct access homes for sale in this category, only 5 are listed under $3 million. All five are in the Royal Harbor Area (NA 08).

One of the "best buys" is a lovely southern exposure 4 BR + den, 4 1/2 bath residence featuring a luxurious Master suite and bath, a negative edge pool with spa and cascading spillover, a 50' boat dock with 20K lb. lift, and a second floor 'sunset' room where you are treated to views of the gorgeous sunsets over Naples Bay each night! This home is aggressively priced at $2,399,000. ~Click HERE for a virtual tour of this amazing waterfront home.

For information about the waterfront opportunities here in Naples Florida please call us today at 239.370.0574 or log onto our Previews website at www.NaplesPreviews.com

Naples Real Estate Market Update

There's a lot going on in the Naples real estate market. Here's a brief recap.

• The average sale price in Naples is $357,010. In April 2009 the average sale price was just under $350,000. In March of 2010 it went above $400,000 for the first time since November 2008.

• In January through April 2009 there were 11,243 new listings taken in Naples compared to the first 4 months of 2010 when 10,441 new listings were placed into the MLS. Presently there are 7,676 active listings. Of those 1,441 are Previews Properties (those listed at or above $ 1 million dollars). Conversely, 43.4% of the current inventory is priced below $300,000.

• There were 1,384 listings that went under contract in April 2010 as compared to April 2009; an increase of approximately 17%. Of those that pended last month, 73.4% were listed at or below $300,000. This price range continues to drive our market.

• 18% of the active listings in Naples are Previews Properties vs. only 303 of the 4,373 closed sales TYD having been listed at or above $1 million dollars which translates to only 3% of the closings.

For the purpose of conducting property searches, Naples is divided in NA zones (Naples Areas) numbered from 1 through 48. In reviewing the averaged closed sale statistics over the past 12 months only two NA zones showed an increase in average sold price; that being NA 02: Vanderbilt Beach, and NA 07: Aqualane Shores and Port Royal. It is always favorable when the high end of the market shows signs of recovery.

Interest rates are holding fairly steady, although it has been predicted that they may rise intermittently over the next 6 months and level out around 7%. This may get some hesitant buyers off the fence, but won't effect us as much as could be expected as 68% of our office's closed sales YTD have been cash transactions.

As always, Chip & I welcome your comments and questions. We can be reached at 239.370.0574 (direct). We look forward to hearing from you and hope to earn your business.

*Information has been derived from the Naples multiple listing system, SunshineMLS, and are deemed reliable but not guaranteed.

Real Estate Predictions

I thought this was interesting enough to share....384 real estate markets across the United States are being tracked by CNNmoney.com. Check out the predictions for your city/area by clicking on this LINK. For detailed information about Naples Real Estate please call me or my partner, Chip Harris today! 239-370-0574 Thanks and make it a great day!

Naples Real Estate Statistics

At this morning's weekly sales meeting, at the Coldwell Banker Fifth Avenue Previews office, our broker shared with us the following statistics from the Naples area MLS: May 2008 vs. May 2009

• The number of pendings of residential listings priced under $300,000 is up 193%. The median price in this same price range is down -39%.
• Pendings of residential listings in the $300,001-$500,000 are up 9%, and the median price is only down -1%.
• One of the most dramatic changes is in the $500,001-$1 million list price range where prices are up 1%, but the number of listings pending is up 24%.
• Listings priced over $1 million dollars saw a 13% increase in the number of properties going under contract last month and the median price was down a mere -3%.

The median sales price of closed sales comparing May 2008 to May 2009 changed from $314,000 to $174,000. But, when you take the closed sales with list prices at or under $300,000 out of the equation the median closed sale price changed from $557,000 to $550,000.

Months of Inventory has been on the decline since February 2008. In May 2008, the Naples inventory had a 35.36 month supply. In May 2009, that supply decreased to 23.15. Inventory is down--Sales are up--interest rates are stable--NOW is a great time to buy!

Call us today for a more detailed analysis of your neighborhood, or of any community or condominium that you might be interested in. The Harris-Peppe Team is looking forward to hearing from you and hoping to earn your business. 239-370-0574

Harris-Peppe Team Earns Distinction

Our broker read a letter this morning at our office's weekly sales meeting announcing that we, The Harris-Peppe Team, earned the distinction of being named in NRT's Top 100 agents for the 1st quarter of 2009 for the nation! The letter was directly from Bruce G. Zipf, President & CEO of NRT LLC, headquartered in Parsippany New Jersey. His letter went on to say, "Your achievement is even more impressive given your high-level of production during what many now feel was the most challenging quarter in our professional lifetime." It went on to say the performance of our team last quarter was "exceptional"! In addition, NRT was recognized once again this spring by Real Estate magazine as the "strongest Power Broker in the nation". NRT LLC is the nation's largest residential brokerage firm which operates under the banners of Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby's International Realty and The Corcoran Group. It is a subsidiary of Realogy Corporation and has over 52,000 real estate agents nationwide. Chip & I are so proud of this honor. We are dedicated to creating exceptional real estate experiences for our customers, especially in this current economic climate. Of course we share this distinction with our two daughters, Krista and Meagan, and our marketing coordinator, Sam Wells. Together the five of us look forward to earning your future business while continuing the level of service you have grown to expect from our team. Please call us with any of your Naples Real Estate questions or concerns. 239-370-0574 Thank you, and make it a great day!

Staying Up in a Down Market

People ask me how I stay "up" in such a down market...the answer is really quite simple. First, we know that there isn't anything that we can't accomplish together. This is a must: Be part of the solution, not part of the problem...Be creative, think outside the box, look at challenges as opportunities to learn and improve...A positive attitude, a strong faith. Be pro-active! Also, Chip & I made the decision when we got home from our summer vacation this year to discontinue the local newspaper delivery. We found that we would sit each morning and read the paper and watch the news while drinking our coffee and before we even left the house we were already inundated with too much negativity. Of course, our customers and clients are tuned into what is happening in the world, primarily the financial markets, so we need to stay up to date with what is happening...logging onto a few key websites will bring us up to speed in just a few minutes. We both check the headlines, but steer clear of reports that editorialize. Steer clear of dome and gloom! Next, we concentrate on all the positive things that are happening in our local real estate market rather than the negative reports...and there's plenty of good news! Real estate is LOCAL, and even within Naples there are pockets of the market doing very well. The media creates the perception that the entire town is off by 40 or 50%, but that simply is not true. There are some great bargains right now, and interest rates have never been better. ~Probably one of the greatest football coaches of all time, Vince Lombardi, had a wonderful coaching philosophy. Each week before the game he would show his players films of all the plays they got right the previous week...I believe this had so much to do with his success. What you focus on becomes your reality; so, if you worry, more things to worry about WILL come your way. Accentuate the positive! It's easy once you make it a habit. And besides, people like working with happy people! We look forward to hearing from you. Please call us with any questions about any specific areas in Naples. Call us or check out our website at www.NaplesRealEstate.com We will be happy to assist you and hope to earn your business! 239-370-0574

Naples Real Estate- More Good News

My vision when I began this blog was to do my best to report as much positive news as possible. Up to now, this has not been the easiest task...However, again this morning, the front page of the local section of The Naples Daily News reports "Naples see increase in home sales". The article goes on to say that, 'pending sales are up in all six geographic areas that the Naples Area Board of Realtors tracks'. As I have reported in previous blog posts, most of this increase can be tracked to the "under $300,000" price range...But today's article indicates that homes listed in the $500,000-$2 million price point have seen pendings up 22% when compared to the same period last year! This is NOT a flash in the pan, one month scenario...No, this is a trend! I remain clear on this message, there has NEVER been a better time to buy real estate in Naples Florida. ~and I have been selling the Naples' dream for over 27 years. Call today to get a more in-depth analysis of any of the areas where you might be considering making a purchase, or to obtain a competitive market analysis of what your home's current value is in this ever evolving market. Thanks and make it a great day! 239-370-0574 direct