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

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

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.

22 Shopping Days 'til Christmas!

Have you made your "list" and checked it twice? As any of you who know me well know, I am a list maker...I have lists for everything!

1. The everyday "To do" list
2. The "I never go to the Grocery Store without a" list
3. The Books I want to read list
4. The Birthday and anniversary cards for the month ahead list
5. The Things that need to get done around the house list
6. The Guests attending our Christmas parties [yes, I'm having more than one party] list
7. The What to cook at each party list
8. The Christmas gift list...card list...

Well, you get the picture. It comes from being a first born, organized, sometimes compulsive, cannot say "no", overachiever...lists are what keep me sane! I actually like lists. When I get a little behind, I've even been known to put things on my lists that I've already done...gives me a sense of accomplishment..."check!" ~Have you seen the commercial on TV lately of the woman who goes to the check out and asks the clerk if he can read anything on her list and he says, "No, there's a line through everything."...and she smiles and gives him a "Boo-ya"!

Anyway, I know a lot of you reading this like lists, too. In fact, one of the most requested blog post suggestions I've gotten recently is for me to post lists of what's selling and what I think are some of the best buys around Naples. So here's a short recap of what happened in the market in November, and what is currently for sale in some of the neighborhoods where The Harris Peppe Team lists and sells:

• There were a total of 231 single family homes and 243 condos that closed in Naples in November 2011. Down less than 1% over the same time period a year ago.
• Of those 474 closings, 89 were listed as "Short Sales"...that's about 18%
• 43 of the 89 short sales were priced below $300,000!
• 98 were listed as "foreclosures"...about 20%
• 91 of the 98 were priced below $300,000!
• There was a total of 33 closings priced at or above $1 million
• 3 of the 33 were short sales, and only 1 was a foreclosure!
• There was a total of 20 single family homes that sold last month in NA 04 to NA 08 [this includes but is not limited to Pelican Bay south to Port Royal along the beach and includes Old Naples, and the Royal Harbor Area as well] 3 of the 20 were short sales. There were 49 condo sales in these same areas, and only 2 were short sales.
• Presently there are 67 single family homes for sale in Old Naples [NA 06]. Only 9 are listed below $1 million! The least expensive home for sale in Old Naples as of this writing is priced at $549,000
• There are 139 condos listed in Old Naples starting at $109,000 for a 1 BR/ 1 BA on up to a luxurious villa for $2,550,000
• There are 102 homes for sale in NA 05 [Crayton Road corridor]. With just a handful priced below $500,000, on up to a waterfront home boasting 5,400 sf built in 2004 with an asking price of $5,250,000.
• One of the hottest neighborhoods is NA 15, the area between US 41 and Goodlette Road, which showed a 7% improvement in the past 12 months as compared to the previous 12 months. Presently there are 46 single family homes available. 15 of the 46 are listed as short sales, and 36 of the 46 are priced below $300,000.

Well, that's my list for the day--I hope it helped you get a better picture of what is happening in some of the areas in Naples Real Estate. Please call us if buying a home in Naples is on your list! 239.370.0574

~And remember, Naples is usually Santa's last stop!

Thanks, and make it a GREAT day,

The Naples Real Estate Blogger

*Data is derived from the Naples multiple listing system, SunshineMLS and is deemed accurate but not guaranteed.

"Real Estate is NOT Real"!

Again we are faced with the media presenting erroneous information to consumers based on data that is inaccurate and far too broad-based to carry water. As one of my colleagues so eloquently put it earlier today in remarking about various newspaper and magazine accounts of the current real estate market, "Real Estate is NOT real, it's the perception that is real"!

As stated in CNNMoney this week, according to FISV, a financial analytics company, home values are expected to fall another 3.6% nationwide by next June. Naples Florida was used as an example as a region that will be hardest hit, with an anticipated drop of another 18.9%" In addition FISV states that Naples has already dropped 61%. What they, and others, fail to take into consideration is the vastness of Collier County and the gaping range in housing values from one zip code to the next. The areas around Naples which have experienced the greatest setbacks are now some of the most resilient. As an example, Golden Gate Estates, a rural community of Collier County with a Naples mailing address, has seen values decrease as much as 75%! As short a time as only 3 years ago that community had approximately a 7.2 year's supply of inventory! Presently there is less than a 6 month supply, and enough demand to absorb any shadow inventory that might come up on the market in the foreseeable future. Across the board we are seeing signs of stabilization. The trend lines in almost every Naples neighborhood are up!

The Naples Luxury Real Estate market has shown strong signs of recovery. Cindy Carroll with Carroll & Carroll, Inc. a Florida State Residential Real Estate Appraiser, was guest speaker at The Coldwell Banker business meeting last week. According to her market statistics: Old Naples single family homes currently have a balanced supply with 64 Active listings, 7 pending and 62 sold in the past 12 months. The Moorings/Park Shore/Coquina Sands single family homes currently has a shortage of inventory: 104 Actives, 16 pending and 115 closed in the past 12 months. Port Royal and Aqualane Shores both have approximately a 1 1/2 year supply of inventory. Royal Harbor, which had a 9.6 year's supply in April of 2007 now has about a 1.5 year supply...talk about a 'come back'!

Despite the challenges that we, and everyone else in the real estate industry are facing today, The Harris-Peppe Team remains bullish on the housing outlook in Naples. Just a few factors that we believe back up that opinion are: 1.) It just snowed as far south as Virginia last week and 1.6 million people are still without power....people want to spend winters in paradise! 2.) 78 million baby boomers will begin retiring within the next 10 years and many of them will be looking for housing, either to buy or rent, in warmer climates, and #3.) Our interest rates remain at record lows, making housing more affordable than ever for the 35% of the buyers in Naples that finance!

The media may try to do their best to scare away the investors, snowbirds and our international friends, but these factors will come into play more times than not. We all just need to continue to get the word out there that Naples is a safe and beautiful place to live, with well priced listings and a limited inventory.

If you would like information about a particular neighborhood or zip code in Naples, please do not hesitate to call The Harris Peppe Team. 239.370.0574

We welcome your comments. Please make it a great day!

Thank you,

The Naples Real Estate Blogger

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! NaplesRealEstate.com 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

Remembering 9.11

Please join us in keeping every soul affected by the tragedy of September 11th, 2001 in our hearts.

...We will always remember.

Happy Birthday Coldwell Banker

Happy 105th Birthday Coldwell Banker!

Coldwell Banker has made the dream of home ownership a reality for millions of families since first opening their doors for business in San Fransisco in 1906. We may be 105 years old, but we sure don't act it! We continually lead the charge with innovative technology, state of the art transaction management systems, and global marketing initiatives. Help me in wishing Coldwell Banker a happy birthday from Naples Florida!

Thank you, and make it a great day,

The Naples Real Estate Blogger

More Naples Real Estate Updates

A Diminishing Inventory in Naples Florida Real Estate

The Naples Daily News article from the weekend paper touted the continuing market stability of our local real estate values. According to The Naples Area Board of Realtors, key indicators such as 'pending sales, current inventory and the median closed price' show signs of real estate stability during these otherwise challenging economic times. Their report further states pending sales were up 2% in July 2011 when compared to July 2010. Another contributing factor is the decrease in non-traditional sales such as short sales and foreclosures. In one of my recent posts about waterfront homes in Naples I calculated that there were 214 homes for sale in the Naples MLS with direct or indirect gulf access. Of those only 12 were short sales and there weren't any foreclosures reported. According to NABOR, 'inventory continues to drop at a rate of 19%. Across the board we currently have less than a 9 month supply of inventory'. This is the lowest seen since NABOR began tracking absorption rates in April 2007. Since April 2007 inventory in Naples has declined over 5,000 residential units. Thanks mostly to smart money investors who are taking advantage of the great values!

Here is a synopsis of one aspect of our market which I believe will help illustrate the current trends in a very popular price range here in Naples, as an example:

Currently Active Single Family Homes priced below $500,000=1,300

When you add to that general search criteria more specific search parameters such as: Year Built 2000 or newer, homes with a private pool, located in a gated community, that number goes from 1,300 Active listings down to only 158 Homes for Sale in all of the NA zones in Naples. Now, take into consideration all homes that meet the very same specifications that have closed in the past 12 months: and there have been 298 closings. That equates to approximately 24.8 closings per month. Based on those closed sales and today's current inventory, we are left with only a 6.37 month absorption rate in that priuce range and specifications! Typically a 12 month absorption rate is considered a 'healthy market, therefore it is this writers' belief that we are experiencing a stabilizing real estate market in Naples Florida.

For additional information about homes for sale in all price ranges, please contact a member of The Harris Peppe Team today! 239.370.0574

Thank you, and make it a GREAT day!

The Naples Real Estate Blogger

data derived from the Naples area MLS is believed to be accurate but not guaranteed.

Naples Florida Welcomes Students and Teachers back to School!

Welcome Back!

Today marks the first day back to school for students here in Collier County. To assist those families considering a move to our area we have created a page on our website which lists all Public and Private Schools in Naples, as well as links to each school's website. We also offer links to zoning maps and the 2011-2012 school calendar. We have also provided information about colleges and universities in Southwest Florida and a link to the Florida Department of Education site. Here is another link which is the most recent Collier County School Grades obtained from the state, dated June 2011.

As a 30 year Collier County School volunteer myself, I can tell you firsthand that our schools are filled with hardworking & dedicated teachers, excellent administrators, and the most beautiful children in the world...They are our future, and we are in good hands.

Please contact me if you would like additional information about volunteer opportunities, or to find homes for sale in Naples Florida, please call The Harris Peppe Team today. 239.370.0574.

Thank you and make it a great day, and please remember to slow down in the school zones!

The Naples Real Estate Blogger

"Opportunity Time"

"Luck is what happens when preparation meets opportunity."

Right now, as I write this post, I am on 'floor duty', otherwise known as opportunity time. A lot of the more seasoned agents don't do floor time anymore...Me? I still like floor duty. In addition to watching all the comings & goings at the front desk...which by the way today it's a very active reception area...it also gives me an opportunity to greet the passer-bys that take the time to step up to our picture windows to look at the brochures that are posted out front and grab a few magazines that are in racks by our entrance. Most people don't really want to be approached...they are just window shopping, and dreaming, and not ready to buy...But, offering them a cold bottle of water, a free map, and my 30 years of experience, many times I can get them inside to sit and chat about one of my loves: Naples!

Yesterday one of my co-workers closed a sale that was a result of a floor call. She got a call from a buyer that was staying at The Ritz, who specifically phoned Coldwell Banker because our brand was familiar to them...This particular agent is one of the hardest working agents in our office. She deserves good things to happen to her...She was filling in for a seasoned agent who did not show up for floor duty and who has since left our company in search of greener pastures! Ironically, the price tag of the home that this 'floor call' purchased exceeded $8 million dollars--One of the highest recorded sales in Naples this year! Now, this is what I call 'opportunity time'! Congratulations to my esteemed colleague, and to Coldwell Banker! The strength of our brand is evident everyday, our location on 5th Avenue south is the best in town, and success is available each day for those who know they create their own luck when preparation meets opportunity time!

So, here I am waiting for that call from The Ritz--I'm feeling pretty lucky today, too! Hope to hear from you soon! 239.370.0574

Thanks, and make it a great day,

The Naples Real Estate Blogger

How Do You Say, "Lanai?"

Many times, while getting to know a buyer's wants, especially when they are relocating to Florida from a northern home, the square footage needs differ greatly from what they originally specify to what they ultimately buy...People forget, or don't realize, what an intricate part of their home's living space the lanai [also known as a screened porch] becomes. Downsizing from a 4 or 5 thousand square foot home into less square footage may seem daunting to some, until they get here and begin to recognize the lifestyle that outdoor living provides throughout most of the year. Here in Naples people decorate their outside living areas with outdoor wicker & teak and other moisture resistant materials and create wonderful entertainment areas with 'summer' kitchens and bars, dining areas, TVs with comfortable seating arrangements as well as open air patio areas that incorporate the landscaping and lighting. Most rooms in a home open up to the outside and even in private yards, those without views, an outside environment can be created to incorporate the inside out and the outside in. Chip and I have coffee on our lanai almost every morning...we love to sit outside at the end of a long day and enjoy our evening meal together...we cook outside, watch TV outside...much of our home life revolves around our backyard.

So, the next time your real estate agent tells you that you cannot get a 3,000 square foot home in your price range, don't consider it "settling" for less--consider it opening up the possibilities to the true Naples lifestyle of outdoor living--Sometimes less really is more!

Please let us know if we can help you find a pretty lanai in Naples Florida where you can have your coffee each morning! 239.370.0574

Make it a great day,

The Naples Real Estate Blogger

Fun Summer Activities in Naples Florida

Well, here it is again already...the first day of summer, and I am about to write what has become my most popular annual blog post: Cool things to do in Naples Florida during your Summer vacation! But, whether you are here on vacation or not, the locals also love this time of year--less crowds, great sales, amazing restaurant specials...May I suggest a few activities that will surely make the long summer days and nights a bit 'cooler'!

How about summer golf? For 17 years, the South Florida PGA Golf Pass program has been providing golfers the opportunity to play on hundreds of local courses at discounted rates....only $48 per individual! Look for GOLFPASS on the menu bar on their home page.

Do you want to be entertained? The Naples Beach Hotel's 26th Annual Summer Jazz on The Gulf concert series kicks off on Saturday June 25th from 7-10PM on the resort's scenic Watkins Lawn (see photo inset) with a local favorite group, Pocket Change. Circle the dates for the other concerts on July 16th, August 20th and September 17th. Also, don't forget the Evenings On Fifth as they continue all summer on the 2nd Thursday of every month. There you will find a wide variety of musical entertainment, side walk sales and excellent restaurant promotions. Or, click on this link to see what is happening at The Phil.

If Art & Culture is your thing, how about a day wandering through the 15 exhibit halls at The Jay and Patty Baker Naples Museum of Art, or perhaps the beautiful von Liebig Center downtown? Peruse the galleries on Fifth Avenue, or gallery Row off Third. Another hidden treasure are the working studios and galleries of The North Naples Arts Alliance in the Pine Ridge Industrial Park....my personal favorites are The Rosen Gallery and Studio, and The Sweet Art Gallery.

Maybe getting closer to nature is what you are hoping to do...Did you know that Naples residents can go to the Naples Zoo for free on the first Saturday of every month? If you haven't been there lately, the bear exhibit is wonderful, as are the giraffes--but I absolutely love Monkey Islands (probably as much as my grandkids)! A favorite way to spend a morning this time of year is wandering the trails and boardwalks at The Corkscrew Swamp Sanctuary. Maintained by The Audubon Society, it is alive with color during the summer months...you might just get lucky enough to view the rare and breathtaking ghost orchids. Why not rent a jet ski or a boat for the day? The backwaters in Naples lead directly to The Ten Thousand Islands and some of the most pristine beaches and mangrove islands in the world. It's the Summer of Sharks at Rookery Bay. Kids 12 and younger get in free on Fridays when accompanied by an adult, for stories, crafts, live animals and much more. Call ahead for more details: 239.417.6310.

Don't miss the Fourth of July Parade from 10:00 a.m. to noon. The parade begins at Broad Avenue South to Third Street then marches down Fifth Avenue South. Get a good spot early...there's always a nice crowd in front of The Coldwell Banker Previews office at 550! Later that same day, the downtown fireworks is a show not to be missed. This tradition begins at 9 p.m. when a remarkable pyrotechnics display appears off the Naples Pier...set to patriotic music, it is one of the best shows I've ever seen...and what better setting than watching it from the beach as the rockets soar over the gulf waters! Call 213.7120 if you are interested in parking and shuttle info.

Last but not least, summer is a great time to buy Naples Real Estate...In fact, I think that might be the coolest idea of all! Please call The Harris Peppe Team today to get a list of some of the areas very best buys and excellent values. We would be happy to prepare a list specific to your needs and wants. We've been selling the Naples lifestyle since 1981 and we would consider it a privilege to assist you or someone you now with a Summer Sale in Naples.

Thank you and have a great summer! The Naples Real Estate Blogger

The Real Estate Industry is Pro-Consumer

As a follow-up to my most recent post about how the real estate industry is so "pro-consumer", I'd like to share some ideas about the other occupations directly effected by a home sale from start to finish. I have thought about this a lot since Ron Phipp's talk here in Naples last week, and the idea that an average of 147 entities are involved in each and every real estate transaction is a pretty amazing fact! I started to piece together the timeline from the point of taking a listing through to closing...Here are a few of the people and businesses that benefit from this economically:

In addition to the support staff on my team, and at my office...I then make keys, call the sign company, photographer, virtual tour company--sometimes a carpet cleaner is called in, a house cleaner, a painter, a landscaper, a stager...the person who draws the floorplan, the printer, the advertising outlets and all their staff members...Contracts are accepted then the file gets turned over to inspection companies: pest inspection, mold inspection, radon, structural inspector and his or her assistants, airconditioner, roofer, pool inspector, seawall & dock contractor...a mortgage rep, a title company or attorney and their support staff and underwriters...wind mitigator, insurance agents and their staff, home watch services, furniture stores, movers...not to mention the closing gifts and the shops where they are purchased and their staff, the client appreciation dinners and those that cater and serve...the gift certificates and thank you notes...Is it any wonder at all that REAL ESTATE and housing is indeed the driving force behind a successful and flourishing economy?

I would love to hear from you if you are an individual whose job benefits from the real estate industry. Please comment on this blog post, or email me directly at michele@naplesrealestate.com. Your input is very important to me, especially if you live in Southwest Florida and think that The Harris Peppe Team should consider your services to assist our customers. Currently we have a 'Select Vendor' list featured on the menu bar on the home page of our website at www.NaplesRealEstate.com as well as a concierge list on our Naples Previews Luxury Website.

Thank you, and make it a great day!

The Naples Real Estate Blogger

Naples Real Estate Blog: What is a QR Code?

First posted 7 months ago, long before most of the QR Code murmers began, I thought it was a good idea to re-post--for those of you still unsure of the future of QR Codes! Trust me, they are changing the way we send and receive information! Click on the link below to read the full article as previously posted by The Naples Real Estate Blogger. Naples Real Estate Blog: 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 ..."

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

Is It Really Almost May?

I don't know about you, but I am amazed that it is almost May? I don't know where the season has gone! We have been so busy...between work and kids and grandkids and volunteering and the day-in and day-out routines that somewhere along the way February and March slipped into April without any warning and I now find myself scheduling summer activities...Being a real estate agent in Naples Florida, we don't keep regular weekly hours. There are no weekends per say...We work most Saturdays showing homes, and Sundays holding open houses. Mine is a crazy, mad calendar filled with colors coding the daily activities in green, orange and pink highlighters...Now that season is indeed winding down, I thought I would share what we think are some of the best buys in Naples Real Estate!

• Best Buy over $2 million: Look no more if you are searching for a large family compound! This southern exposure residence boasts bay views from most rooms! Over 10,000 total square feet, the many features of this home include a private elevator, billiards room, wonderful vanishing edge pool, impact glass & shutters, sauna, master suite sitting area, and so much more. Click here to view the Virtual Tour.
• Best Waterfront Single Family Home Value between $1.5-$2 million: Seeing is believing in this professionally decorated direct access 4+den, 4 full baths, pool, 60' dock, library, indoor air-conditioned storage, reverse osmosis, gourmet kitchen. The list goes on and on! Click here for the Virtual Tour.
• Best In-Town Buy! This is the Olde Naples lifestyle at its best! Only 1 block to all the fabulous 5th Avenue South restaurants, shopping, galleries and live theatre. Beautifully appointed, this home has every imaginable upgrade and feature that one would expect in a luxury property in downtown Naples. Private pool, private elevator, private gardens with fountain and pavers meander around this picturesque Mediterranean-style villa. You won't want to miss viewing the Virtual Tour here!
• Best Bayfront Condo Buy! Choose from two spacious townhomes in the intimate community of Bayview Estates. Totally updated, with docks included, these 3 bedroom 3 bath residences live like a private home with attached 2 car garage. Tropical pool is shared by only 8 condominums. This lovely complex is located at the end of a tree-lined street directly on Naples Bay! The views are priceless! Click here to view both properties: Virtual Tour 1 and Virtual Tour 2.
• Best Buy between $500,000-$1 million: A remarkable single family home located in a gated community in central Naples. 4 bedrooms + bonus room, 3 1/2 baths. Modern, hip & trendy best describe this custom built home. Soaring ceilings, walnut plant flooring, GE monogram appliances. The backyard is a peaceful oasis. To view this spectacular home click here for the Virtual Tour.
• Best Investment Property: Located a short walk to the pristine gulf beaches, and directly on world famous Fifth Avenue South-this exciting 2 bedroom 2 bath condo allows 52 rentals per year and generates an excellent income! Turnkey furnished, the other amenities include a heated pool, large open patio, plus a new roof & freshly painted exterior. Priced to sell at only $329,900. Click here for the Virtual Tour.
• Best Golf Community Condo: First floor end unit with attached garage and spacious lanai, this 2 BR + den is being offered turnkey furnished. Located in a gated community within a short drive to downtown Naples. The community features a Tom Fazio golf course, tennis, fitness center and lovely clubhouse with Naples Bay views. You won't believe the value at $299,900. Check out the Virtual Tour here.
• Best Condo Buy under $250,000! Bright and cheerful, with south exposure and lake views-this 3 bedroom townhome has an attached garage, vaulted ceilings, large lanai, eat-in kitchen, and best of all: It is located in a gated Resort Community featuring a social center, tennis, fitness center, multimedia room, catering kitchen, lap pool plus a resort-style pool. This is Florida living at it's best! Watch the Virtual Tour and see for yourself!

For more information about these Naples Best Buys, please call The Harris-Peppe Team today. 239.370.0574 It may almost be May, but we still have some excellent buys in Naples Florida!

Thanks, and make it a GREAT day!

The Naples Real Estate Blogger

First Quarter 2011

The first quarter of 2011 is officially behind us. It's been a much busier 'season' than any we've experience since 2005. Prices are leveling off in most price points, and inventory remains low. Economists predict we are at or near the bottom. Homes and condos are selling, but it is only the most competitively priced properties that have gone under contract in the past 90 days in any given community. Realistic sellers can still expect a sale in the next two months as lingering 'snowbirds' wait out their return to their northern homes. Combine the late Easter with the inclement spring weather up north, and I believe we will also have some "be-backs" right into the late spring looking for the 'end-of-season' bargains.

Here are some local Naples Real Estate 1st Qtr 2011 Statistics that I thought you might find interesting:

• Presently there are 7,546 Active Residential listings in the Naples MLS. Down approximately 5% over the same time last year.
• Current Listings: 3,261 are Single Family Homes & 4,285 are Condominiums.
• 1 Qtr 2011 there have been 926 total closed single family home sales. Based on that number we could possibly close over 3,700 homes by the end of the year, making our present inventory of single family homes less than a 1 year absorption rate overall.
• Of the 926 closings, 583 were listed at or below $300,000-that is approximately 63% of the single family homes closed.
• 92 of the 926 closings were homes listed at or above $1 million-approximately 10%
• 1st Qtr 2011 there were 1,114 total condominium closings.
• 836 were listed at or below $300,000-over 75% of the closings.
• 63 of the 1,114 condos closed YTD were listed at or above $1 million, less than 6% of the total closings. Currently condos listed at or above $1 million comprises 11.8% of the total condo inventory. However, it is the luxury condominiums which have seen the greatest increase in number of closings when compared to the 1st Qtr of 2010, up nearly 8%.
• Total closed residential sales 1st Qtr 2010=1,945 vs 1st Qtr 2011=2,040
• 38% of the closings have been conventionally financed. Most buyers are still paying cash.
• The Median sale price in Naples is presently approx. $186,000.
• The Average sale price in Naples is presently approx. $349,000.
• In contrast, the Average sale price in Naples zip codes 34102 & 34103 is $1,199,242.
• NA06: Old Naples average sale price is up an estimated 12% in the past 12 months vs. the previous 12 months.
• NA05: The Crayton Road area average sale price is up approx. 3%.

Perhaps the best barometer in determining the real estate climate is measuring "Pendings". [see chart above]. This best demonstrates the trend line. Sales are UP, and well priced listings are selling fast! Call The Harris-Peppe Team today to discuss in more detail any specific neighborhood that you are interested in and we will gladly assist you. 239.370.0574

Thank you and make it a GREAT day!

The Naples Real Estate Blogger

Select Vendor of the Week

This week's Select Vendor is Ken Watkins, the best Orkin Man in Naples!

Orkin says, "caring for your home is our business. We're not satisfied until you are satisfied. So, if you need pest control between scheduled visits we'll keep coming back until it's solved or we will refund your last service payment." Orkin's service is second to none! They have been in business for over 100 years, and have nearly 2 million satisfied customers to prove it. Here in Florida, pest control is a major issue. It is our pleasure to recommend Orkin, and specifically our Orkin Man, Ken Watkins as our Select Vendor of the week! You can reach Ken directly at 239.601.8496.

Here are a few tips to help you identify pest risk factors:

• An open garbage can stored under a kitchen sink can be a magnet for flies, ants, roaches and rodents.
• Mice and other pests can enter a home through tiny gaps, the size of a pencil.
• Food that is not properly sealed in a pantry can attract pests.
• Improperly sealed attics and crawl spaces can attract spiders.
• A leaking roof or blocked gutter can accumulate moisture and become a breeding ground for mosquitoes.
• Torn screens cannot keep out small insects.
• Wood stacked beside a home can attract termites or carpenter ants.
• Landscaping growing beside a home is the perfect "ladder' for pest to climb to get into a home's rafters.

Last year termites caused more than $5 billions dollars worth of damage. It is a good idea to call Ken today and have your home checked, then sign-up for an annual contract to have your home protected. Such a simple solution to protect your biggest investment, your home!

Thank you for your time. Make it a great day,

The Naples Real Estate Blogger

Happy St. Patrick's Day!

Happy St. Patrick's Day from The Harris Peppe Team

at the fabulous Coldwell Banker Previews International office

in beautiful downtown Naples Florida!