Poll Closed

Last week I conducted a survey on this blog and the results might surprise you. I asked readers to choose from the following answers when asked what they look for when selecting a real estate professional:

1. Market knowledge and success
2. Years of experience and designations
3. Easy to work with and trust
4. Marketing capabilities and company reputation

83% of those polled selected "Easy to work with and trust" , followed by "Marketing capabilities and company reputation".

Call the Harris-Peppe Team today to find out why our slogan is, "...the name friends refer to friends". We can be reached directly at 239-370-0574 or log onto www.NaplesRealEstate.com to do your own search on our consumer friendly website.

Thanks to all those who participated. There will be more polls in the future!

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

Inquiries are Up!

We thought we might be seeing the light at the end of the tunnel, then last week's stock market plunged (in case you didn't hear)...and we had to take a step back again and make sure it wasn't an oncoming train! As it turns out, Monday saw the single largest gain in history on Wall Street...and (now here's the really good news)...our site has had record breaking inquiries in the past 48 hours! When asked by prospective buyers to do searches for properties under $500,000 I am amazed at the selection. Under $300,000 is the hottest market in Naples when just a few years ago one would have been hard-pressed to find anything in that price point. Tell us exactly what you are looking for; right down to the size, age, view and amenities and we will find it! Don't let this opportunity pass you by. Call us today. 239-370-0574 direct. We are looking forward to earning your business!

More Naples' Rankings

Today, www.NaplesRealEstate.com is happy to report some more interesting rankings about Naples that I think you will find interesting. There are 67 counties in the state of Florida. Collier County is the largest; in fact, it is the largest county land-wise east of the Mississippi River, a total of 2,305 square miles. More than 80% of Collier County is set aside as preserve lands! Naples was selected as #1 Best Small Art Town in America by author John Villani in his book, The 100 Best Art Towns in America. There are at least 150 galleries in the greater Naples area including Gallery Row in downtown. Also, The Travel Channel designated Naples as America's Best Beach in 2005. ~and Conde' Nast Traveler magazine named Naples in the best 20 beaches in America in 2006. Naples ranked # 22 Best Town to live in America by Forbes Magazine in 2008. Naples is currently ranked #2 for most golf holes per capita, but it is #1 when you count only private holes! ~and, at The Harris-Peppe Team, our customers are ALWAYS #1. Call us today so that we can tell you all about the amazing opportunites currently available here in paradise. 239-370-0574

Thought For The Day

Be Thankful for what you have, and you will end up having more- Focus on what you don't have, and you will never have enough.

Naples Real Estate Statistics

Here are a few interesting statistics: Currently in Naples there are 10,264 Active residential listings. 4,581 are priced under $300,000. 4,402 are priced over $1 million. 12% of the current residential listings in Naples are Short Sales. 81% of the short sales are priced below $300,000. The Average Sold Price in the past 12 months is $587,612. with a trend line decreasing from approximately $700,000. in October 2007 to just under $500,000 as of October 1st, 2008. The Median Sold Price in the last 12 months is $313,219. with a trend line decreasing from approximately $360,000 in October 2007 to $245,000 now. The number of units closed has increased 72% when comparing September 2007 through September 2008. This is great news! Keep in mind that Real Estate is local, and even within the Naples market certain areas have fared better than others. As an example: highrises along Gulf Shore Blvd. N. have an average sale price of $1,787,424 for the past 12 months. If you go back 24 months, the average is $1,869,732; a decrease of less than 4.5%. In contrast, you can use the area of Golden Gate Estates, where in some cases, certain NA areas have seen an average sold price decrease nearly 50%! You must be careful when reading reports that do a broad stroke of the entire Naples' market rather than specifically calculating each given area. Websites like Zillow.com, as an example, are often times inaccurate since they cannot make distinctions when doing an analysis. If you are either a buyer or a seller in the Naples area, please allow The Harris-Peppe Team an opportunity to do a comprehensive study of the area where you are looking to buy or sell. Let our experience assist you in making an informed decision in today's real estate market. *all info was received from the SunshineMLS system and is deemed accurate. Statistics based on activity in Naples Areas only.

Coldwell Banker 10-day Sales Event

In a market "plagued by a two year price slump", Coldwell Banker is asking its sellers to slash prices! We estimate nearly 30,000 sellers across the U.S. will reduce their list price during the 10-day sales event with the hope that it will increase activity. Click on this link to read the full story as seen in REUTERS yesterday 10/06/08: http://www.reuters.com/article/bondsNews/idUSN0228964320081006 Jim Gillespie, chief executive of Coldwell Banker, was also quoted in an article by The Associated Press last Friday, October 3rd, where he spoke of the nationwide promotion. This can be found by Google-ing "Coldwell Banker 10-day Sale." Jim has also been interviewed today on CBS Radio, CNNMoney, KCBS Radio, CNBC Power Lunch (click on: http://www.cnbc.com/id/15840232?video=879758184 ), Bloomburg and Brandweek. An article in Brandweek by Steve Miller can also be read in its entirety by clicking on this link: http://www.brandweek.com/bw/content_display/news-and-features/technology-finance/e3i3ccdd00902078c2443f98cab7e3c3b3c The Harris-Peppe Team will be participating in this event. Their sellers were very receptive to the price adjustments and are excited about the national exposure their properties are getting through the media coverage. Each of their listings will have special finance options in place to assist potential buyers looking for a mortgage. Addresses and times of the open houses will be posted again in a future entry. If you have any comments or questions please do not hesitate to call us directly at: 239-370-0574. Looking forward to seeing you there!

Keeping the Faith

When I began this blog I wanted to try to keep it as upbeat and positive as possible. You hear enough gloom and doom without me adding to in, right? ...and the truth is, it is my nature to look for the good in each person and in each and every situation... -Around the office, in my circle of friends, and in my family, I am known as "the happy one"...after all, I have survived a few potentially fatal diseases, so if given the choice between two phones to answer: on one line a doctor with a bad diagnosis, and on the other a banker with bad news about my finances...well, which phone would you rather answer? This simple exercise always helps me to "see" more clearly. It is times like these that help us to put things into perspective. We become smarter AND stronger! We learn to prioritize...to think outside of the box...we get VERY creative. Mostly, we remember the importance of appreciating what we have. Yes, it has become increasingly difficult for me to post "happy-grams" with all the headlines in the past week...Then in church yesterday the minister spoke about "Having An Abundant Life"...and it really struck a cord. It would seem that in times such as these, the words "abundance" and prosperity are out of reach. But, what if it is our own thoughts contributing to and creating these experiences? The thoughts we have become our reality. That is not some "far-out" opinion, but rather it is a fundamental truth based on the principle of the formative power of thought. Thoughts held in our mind produce results. Haven't you known two people going through similar experiences with two completely different perspectives? With two completely different outcomes? -So, what have you been thinking lately? I am fairly certain you've been thinking about bank failures, plunging stock prices, mortgage foreclosures, rising unemployment--it's no wonder the economic meltdown has gotten so many people so depressed...However, I am going to suggest that you, at least please just try to, spend the next 24 hours changing your thoughts. Thoughts create; you've heard this so many times in your life in so many ways...This is nothing new! "As a man thinketh in his heart, so he is." Indeed, we all have the potential to be happy, to be creative, in any given moment, in spite of the circumstances...It IS a choice. Chip wakes up every day and says, "Hey, I'm on the right side of the grass." It's a great way to start the day, with a grateful heart. There are so many opportunities available right now if only you look for them...Remember, your beliefs may be hard to change...they are formed by the papers you read, the news you watch, the friends whose opinions you respect and the lessons that your grandma taught you...Ah, but Faith...Faith can be unshakable. Our minister put it this way: "Faith is the substance of things hoped for, the evidence of things not seen." Good thoughts, a positive attitude and a grateful heart. That is my wish for you today. Keep the faith!

Quality AND Quantity

The quality of life in Naples is tough to beat...Our doctors and world-class hospitals are at the forefront of medicine...Staying fit and healthy comes naturally to Naples residents. The gyms and spas are too numerous to mention. -and There are so many natural attractions, too: beautiful beaches, preserves and parks...boating, fishing, eco-tours, sanctuaries...not to mention golf. More private golf holes per-capita than any other city in the world! So many wonderful outdoor activities...It is no wonder a recent article in Money Magazine rated Naples and Collier County #4 for longevity in the U.S.A. where life expectancy is 80.97. I'm not sure how they measure this, but I always knew there was a connection between "quality and quantity" and often wondered why Naples had not made the list before now. Just one more reason to consider a move to Collier County...Live good, Live long, make Naples your home!

Naples is now Under Valued!

We had two very positive articles about Naples Real Estate in the local paper this week. Friday's article even went as far as to say that Naples is now "under valued"! Allow me to share a few statistics with you that I think you will find interesting. Total Closed Residential Sales in Naples YTD, per the multiple listing service is 3,425. Currently there are 10,183 Active residential properties listed in the MLS. This means that at the current rate approximately 1 in 3 properties of the current inventory will go under contract. This is a broad stroke of the market. Of course, specific neighborhoods vary, but as a rule, this is an important statistic. If 1 in 3 listings will sell (and inventory is expected to increase in the coming months as it always does in preparation of season) pricing is more crucial than ever. In 2007 there was a total of 3,910 residential closings in Naples. 1,251 were listed under $300,000. In 2008 YTD there have been 1,604 closed residential sales listed under $300,000! The article in the paper pointed to the fact that if you took the "under $300,000" listings out of the equation, our market is actually up 5%. Residential Closed sale units in Naples in the last 4 years peaked in March of 2005 at over 1,000 closings for the month. The average number of per month closings in the past 12 months is 354, and continues to look like it will remain on an upward trend. (I have only used closed residential sales in Naples, not Marco Island or Bonita Springs in my calculations-I have not used closed lots either). Call us today with any questions or comments. Anyone of us on The Harris-Peppe Team would be happy to do a specific search and or a no obligation market analysis to assist you: 239-370-0574 direct. The number of sales is up, prices are at record lows and all indicators are that they have leveled out. There has NEVER been a better time to buy in Naples Florida! There remains an excellent inventory in all price ranges. Take advantage of this opportunity to own a piece of paradise! This is one agent who truly believes we are in for a fabulous season!

Naples Florida Real Estate Best Buys!

I believe these to be two of the best buys in Southwest Florida priced under $500,000!

If making a sound investment is your motivation, call today!

• Adorable, 2 bedroom, 2 bath, + den, single family home with a refreshing, below ground swimming pool! (check out the view) A bright and cheerful decor...ALL furnishings are included in this Key West-style cottage located in historic Goodland...move right in and begin to enjoy this lovingly maintained, charming home. Situated on a large bay with direct access to the Gulf of Mexico and the 10,000 islands where you will find the best fishing in Florida only a short boat cruise away! Here at "The Pineapple Hut" you are walking distance to all the fun that Goodland has to offer. -and Just a few minutes from all the convenient shopping and amenities of Marco Island...Plus only a 30 minute drive to downtown Naples! WOW! This is a true boater's dream. This turnkey furnished cottage can be yours for UNDER $500,000! MAKE OFFERS! All reasonable offers will be considered!

• Fabulous opportunity to own a rarely available 2 bedroom, 2 bath, turnkey furnished condo in Olde Naples just one short block to the beach and located directly on the World Famous Fifth Avenue South, Naples' main street! Here you are just steps away from breathtaking sunsets...PLUS all the amazing restaurants, pubs, galleries and fine shoppes that the downtown lifestyle has to offer. In addition to this, the condo, which is situated in a small and intimate enclave of only 14 units, can be rented out by the week! The rental history is excellent! Call for details. Lots of income to off-set debt! This would make a perfect get-away! No car necessary! Priced UNDER $500,000 to encourage offers!

Call today for appointments or for additional information about these or all other buying opportunities in Southwest Florida 1-239-370-0574 (direct) OR log onto our award winning website at: http://www.naplesrealestate.com/ You will find additional photos and virtual tours of these and our other listings on this site!

Sharpening The Axe

Well, I've been back at the office now for two full days and I must say, being away certainly helped my attitude. A couple of months away gives one a new perspective. Our colleagues were glad to see us...seems the office is lacking a little enthusiasm and they think I'm just the shot in the arm it needs. Gee, it's nice to be missed. I remember when I first got into this business and the more "experienced" agents took the summer months off and I used to think, "Someday that will be me"! They always returned refreshed and ready to face the season; full of new ideas and energy. That's just how I feel! Chip and I are fortunate to have amassed a team of professionals to handle the day to day business details in our absence. -And of course, with cell phones and laptops we are rarely more than a click away. We were more than ready to jump right back into it and we are eagerly looking forward to the opportunities ahead of us in the coming months. Sure, we know there are challenges; but hey, Naples is Naples! This is paradise! It's still 80 degrees in February, right? Plus, there are so many good buys on the market. It's a great time to be a buyer! We are busy getting up to speed with the current inventory, pricing adjustments, mortgage rates and appraisal issues and in addition to all the upcoming marketing campaigns we are designing a new and exciting website! We can't wait to unveil it! We've spent the last couple of months "sharpening the axe" and we are back and sharper than ever! Give us a call. We would love to hear from you. 239-370-0574 (direct)

Lest We Forget

On this day, "When buildings fell, heroes rose."

...and we will never forget.

Summer Sum Up

We are eager to get back to the office after spending the last 2 months out of town. While we were away we observed a few things which I thought I'd like to share in today's post: No matter how far off the beaten path we travelled; whether it was on a remote island in The North Channel, a quiet cove on Georgian Bay or a tiny seaside town along Lake Michigan, when we saw a real estate sign off in the distance it was nearly always a Coldwell Banker sign. The "blue and white" brand is universally recognized and respected. We are coming back to Naples more certain than ever that we are affiliated with the best real estate company. We never missed an opportunity to stop in and visit the Coldwell Banker offices we found along the way. We met and networked with agents and brokers from many of our feeder markets. Many of whom either knew someone who already owns a home in Naples or someone looking to buy! They were glad to have a referral contact. Unanimously, the internet was touted as the number one means of promoting listings and finding buyers as told to us by every top office and agent we met. Currently we are working on improvements to http://www.naplesrealestate.com/ and http://www.naplespreviews.com/. We will also be unveiling a third site by the end of the year which will highlight and feature only luxury homes and condos. There were days on end when we did not have reliable cell phone service and no internet connections--Krista, Meagan and Sam held down the fort like the competent experts we know they are and handled all situations with the skill and efficiency of seasoned professionals. The Harris-Peppe Team closed over $5 million in sales and currently has 7 contracts pending! We know there will be challenges ahead, but we also know we have the strength of three very important factors of success. An internationally recognized real estate company: Coldwell Banker; a winning sales team: The Harris-Peppe Team, and websites that dominate the Naples market! We look forward to earning your business. Give us a call. We'd like to put our knowledge and energy to work for you! 239-370-0574

Success!

We said we were "gone fishing"...and we did not tell a lie! Here are a few super shots of Captain Chip taken at South Benjamin Island in the North Channel in Ontario Canada...he fishes almost as successfully as he sells real estate! We will be back home soon making things happen and "reeling" in those buyers! ...After all, we are "Reel"-tors!

"Gone Fishing"

Well, it's been a couple of weeks since I blogged. Forgive me, but even Realtors take a break once in a while. Our break just happens to be a little looooonger than the usual... Truth is, we are about to embark on perhaps our longest stretch "away" and out of touch ever! Up till now we have been very connected...whether near or far, whether we take a few days or take a few weeks, it is always with cell phones and laptop in hand. We "work" almost every day on vacation and back at the office we have our trusted Sam, Krista and Meagan always close by to pick up where we've left off. --and in a pinch, we don't mind leaning on Broker Bill. We've been gone about a week and have actually closed several sales while "on the road"...the beauty of doing business in the 21st century! --so, we will try to keep the blog going from time to time over the summer months...and most of the time we will be a phone call away (239-370-0574) or closer yet if I can find a Wi-Fi hotspot...Don't forget to check out our weekly featured property online at www.NaplesRealEstate.com or our videos on YouTube! In the meantime, have a safe and happy 4th of July celebration....and a great summer!

Naples Real Estate "Best Buy"

Brand New and Beautiful!

It's all in the details in this brand new and beautiful single family home. Situated in the magnificent, gated community of Fiddler's Creek; the amenities include a full service marina, a beach pavilion and a fabulous, resort-style Club & Spa. Fiddler's Creek is comprised of approximately 4,000 acres of which only 1,100 acres will be used for residential purposes. A firm commitment to nature and the environment; 2,600 acres are designated as lakes, golf course, parks and preserves. A 5.5 mile creek meanders through the community. There is an abundance of wading bird habitats, a nature park with boardwalk and gazebo overlook.

This lovely home is located in the newest and most exclusive village in Fiddler's Creek ~ Sauvignon. Comprised of only 10 homes in a private enclave. Hyacinth Drive overlooks the exciting 9th green and boasts breathtaking views of sparkling lakes.

Some of the custom features of this residence include a huge pool and spacious outdoor entertainment area, over 4,000 square feet, 3 large bedrooms plus a den, formal dining room and living room as well as an amazing casual room which opens to the granite kitchen. The separate guest cabana would be ideal for out of town guests or used as a studio or private owner's retreat! There's a brick paver motor court and private over sized garage.

Additional photos and a virtual tour can be found online at http://www.naplesrealestate.com/ or call us today for your personal showing at 239-370-0574. This is the kind of place you will want to call home!

Coldwell Banker CARES

Coldwell Banker is more than a real estate company.

Through our statewide efforts, the CARES foundation has raised over $2 million dollars in support of a wide variety of non-profit educational, health, environmental and cultural arts organizations throughout Florida! As real estate professionals, we cherish the value of our community and strive to improve the quality of life for every citizen. Collectively and individually, the agents in the Coldwell Banker Previews Fifth Avenue office here in Naples support hundreds of local charities. In addition to the local charities that we all choose to participate in with both our time and treasures, we are actively involved in the CARES program. Across the state, Coldwell Banker has sponsored 17 Habitat for Humanity homes. Now, we have decided to support the Ronald McDonald House as our newest statewide initiative. The Ronald McDonald House assists families in need during the hospitalization of their children. Please help us to celebrate Foundation Month in June. All year, every year; every sale or listing sold that we participate in, the Harris-Peppe Team makes a donation to this amazing charity. As a leader in your community it is up to us to make a difference. Together we ARE making a difference in our community! Thank you. Coldwell banker Residential Real Estate CARES is a chapter of the Realogy Charitable Foundation, Inc. A 501 (C) (3) public charity incorporated in Delaware. Chapters principal place of business is Florida. A copy of the official registration and financials can be obtained from the division of Consumer Services. Registration does nor endorse, approve or recommend by the state. The Foundation Tax ID # is 20-0755090

Fun Summer Activities in Naples Florida

The long, hot days of summer have arrived and if you are looking for something really cool to do, we can suggest a few of our favorites! Don't miss the Fourth of July Parade, Friday July 4th from 10:00 a.m. to noon. The parade begins at Broad Avenue South, north on Third Street, then up Fifth Avenue! Get a "good spot" early! Later that same day, the Downtown Fireworks is a show not to be missed. This annual tradition begins at 9 p.m. when a remarkable pyrotechnics display appears off the Naples Pier out over the Gulf of Mexico. Call 239-213-7120 if you are interested in parking and shuttle info. How about Summer Golf? The South Florida PGA 2008 GolfPass membership is limited to 5000, so call today! For only $48. per individual, it offers play on nearly 200 South Florida courses, including 25 country clubs. Contact them at 954-752-9299 or www.sflorida.pga.com If Art & Culture are your thing, a day wandering through the 15 exhibit halls at The Naples Museum of Art, or perhaps the beautiful von Liebig Art Center downtown? Peruse the galleries on Fifth Avenue or Gallery Row off Third. Both the Collier County Museum and Palm Cottage have summer hours. ~And let's not forget The Fifth Avenue South Gallery Walks scheduled for July 13th, August 10th and September 14th from 6-9 p.m....and circle the date now for The Labor Day Weekend Arts and Crafts Festival on Fifth Avenue South on September 6th and 7th from 10 to 5! Want to be entertained? The Naples Beach Hotel hosts FREE Jazz concerts on their lawn...mark your calendars for July 19th, August 23rd and September 13th! You won't want to miss The Evenings On Fifth either. They will occur on July 10th, August 14th and September 11th. If you want to check out what is happening at the Phil it's easy, just log on to their website at www.ThePhil.com They already have their 2008-2009 season online! Great! Maybe getting close to nature is what you are yearning for...Did you know that Naples residents can go to The Naples Zoo for free on the 1st Saturday of each month? Also, The Corkscrew Swamp Sanctuary is alive with wildlife and color in the summer months. Maintained by the Audubon Society, this is a magnificent way to spend the day. Of course, let's not forget so many of our favorite restaurants offer summer specials...and this time of year there aren't any long waits to be seated! Perfect! Last, but certainly not least, did you know it's a great time to buy real estate? Please call a member of The Harris-Peppe Team today: 239-370-0574. We have been selling the Naples' lifestyle since 1981 and we would consider it a privilege to assist you or someone you know with a summer sale! Thanks and have a safe and happy summer!

House-Spouse magnet

This may well be one of the weirdest real estate blog entries ever, but I felt it was worth the time for those ladies out there looking for a husband...okay, don't laugh, but here goes. We have a cute little condo listed in a neighborhood and price point that we do not normally handle. The mom of the owner is a real estate agent in another Florida city and found us on the Internet. Given her daughter's situation I decided to take the listing myself hoping that someone would do the same for one of my kids. I promised her I would take care of her daughter as though she were my own kiddo. I know it gave her a good sense of comfort knowing my years of experience. Well, never did we think a year ago that the market would have continued it's downward spiral and at such a pace...This lovely little condo is a super buy, located just a few short miles to downtown Naples and all the wonderful amenities Naples offers. Further, it boasts a spacious bedroom plus a den, covered parking, cute furnishings, in-home laundry, a wonderful community pool, a nice park-like setting, golfing nearby and best of all...are you ready for this? The last two ladies who owned this condo moved in single and met their husbands shortly thereafter. Now, this might be pushing the envelope, and of course I cannot make any guarantees, but thinking outside the box is my specialty and in this crazy market I figured, what did I have to lose, right? Oh, by the way. This sweet little condo is priced at $100,000 even. Call us if you're interested in the details or check it out yourself on our website: http://www.naplesrealestate.com/

Save $$$ On Your Home Insurance

Recently my husband (and business partner, Chip) had a Windstorm Inspection done on our personal residence here in Naples. We live on the water. The results, which we turned into our insurance company, gave us approximately a 30% savings on the wind portion of our homeowner's insurance premium. This is substantial when you consider the cost of insurance. If you are reading this, and have any questions pertaining to this type of inspection, please feel free to call Chip as he would be happy to assist you. 239-370-0574 It is important to note that Governor Charlie Crist signed a new law: SB 2860, which will require beginning in 2010, all homes insured by Citizen's Property Insurance for more than $500,000 which are located in the "windborne debris region" to disclose the home's windstorm rating at the real estate closing. This means these homeowners will have to complete the windstorm mitigation inspection prior to selling their homes. This program also applies to condominums, so it might benefit an association to check into getting such an inspection. ~AND...Starting in 2011, all homes located in the windborne debris regions must disclose this rating at closing, not just those insured for more than $500,000.

Counting Our Blessings

Well, as you can see I started out "gang-busters" when I first created this blog earlier this year...10 posts in January, my first month of blogging...Now as I look back, I haven't published an entry in about 2 weeks! Ahh! I just don't know where the time goes. Days and weeks are running together. I hear from other agents how "slow" things are and I wonder what planet they're on! We are busy! We are very busy! Internet leads, sign calls, floor calls & "walk-ins", referrals from past customers, open house prospects, making sales, managing listings and marketing. We do not know a dull day. If it isn't happening we make it happen!! Last month we had nearly a half million organic visitors to our website. There just isn't enough time in the day to follow up with all these potential prospects! Add to the mix a private life filled to the brim with children, grandchildren, friends and family...wonderful loved ones...Well, our cup runneth over...and we are not complaining. Quite honestly, just the opposite, we are counting our blessings! I had a great experience this morning. My broker is out of town and I volunteered to run our weekly sales meeting. Well, it was a great meeting if I may say so myself...not just the context, but the interaction. This office has some very talented agents...I have the best co-workers in the business. We are a family here at The Coldwell Banker Previews office. The meeting was upbeat and happy, positive and motivational. There are a lot of really good stats out there...Our market is turning in certain key segments in and near downtown Naples. One neighborhood in particular, Aqualane Shores is on track to close nearly 50 homes this year and currently only has 24 active listings. That's a 6 month absorption rate folks. You better check it out now before it's too late because Aqualane Shores is selling and it won't be long when the other waterfront communities follow! Our office pended 65 sales in May! We are up nearly 18% over the same time period last year! Buyers are making plans to come back to Naples to make decisions! There is a light at the end of the tunnel. If you would like information and current statistics about any particular neighborhood or community in Naples I hope you will give The Harris-Peppe Team an opportunity to earn your business. We look forward to hearing from you...now, gotta' get back to work!

1031 Exchanges

Today I attended a seminar on 1031 exchanges. I've been selling for over 27 years, and I have done my fair share of exchanges, but I went to the class anyway just to see if I could pick up any *new info to share with my customers. The class was given by a gentleman named Marshall Beene who is an exchange account coordinator with U.S. National 1031 Exchange. An investor in real estate understands how important it is to preserve wealth and assets. The investor is fortunate to have this tax code which gives them the ability to defer taxes on their gain and rollover equity of "like kind" properties. Thus, the investor continues to build wealth through real estate investments and maintains the hard earned equity. First of all, let me define what an IRC 1031 Tax deferred Exchange is: A 1031 Exchange is a transaction which specifies if an asset (a form of real estate such as land or a commercial building) is sold and the proceeds of the sale are then reinvested in an asset of a similar kind, therefore no capital gain or loss is recognized, allowing the deferment of capital gains taxes that would otherwise been due on the first sale. The actual law is Title 26, section 1031 of the Internal Revenue Code. All clients should refer to their CPA for tax or legal advice, but if you have basic questions about what an IRC 1031 Tax Deferred Exchange is we welcome your call. Many of these questions can also be answered by logging onto http://www.usnational1031.com/ Okay, now for the *new info...I thought this was interesting...If you, an investor, purchased a property for $200,000. and the current market value is $500,000...BUT, if you have taken equity out of the property over your time of ownership, you will still owe capital gains on the estimated $300,000 difference--known as gain (less added improvements, less depreciation, less selling expenses,etc...I'm just trying to keep the example simple) even if your current mortgage debt is $400,000 or more...The tax due on the sale is based on the estimated gain on the sale regardless of whether you have refinanced or gotten equity out of the property. In this instance, it would be better to consider a 1031 exchange and "roll" the sale into another like kind property of equal or greater value and continue to build wealth rather than get "stuck" owing taxes on a property you now have little or no equity in. Again, I always recommend you call your CPA, but I thought that in today's market there might be a few investors out there in similar situations that might find this info helpful. If you own an investment property here in Naples Florida and want more info about the 1031 exchange and how it could benefit you, please call The Harris-Peppe Team today. 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

Name Brand Recognition

1. Did you know that 96% of consumers know the Coldwell Banker Brand? What's in a name? EVERYTHING! A strong brand can command a premium price and influence buying decisions that shape the ownership experience. Put the strength of the Coldwell Banker to work for you. With over 100 years as an industry leader and a 96% brand awareness, Coldwell Banker is in the same league as Coke, Pepsi and Nike! 2. Did you know that 80% of today's consumers begin their home search on the internet? What's in a name? EVERYTHING! That's why NaplesRealEstate.com is fast becoming the most popular website used by today's consumer looking for a home in Naples! 3. Did you know that over 70% of The Harris-Peppe Team's real estate transactions are a result of repeat and referral business? What's in a name? EVERYTHING! The Harris-Peppe Team, "the name friends refer to friends" Coldwell Banker, http://www.naplesrealestate.com/ & The Harris-Peppe Team... Call them today to put this winning combination to work for you! 239-370-0574

Market Hits Bottom!

A week or so ago our local newspaper reported that the housing market in Collier had "hit bottom" and was back on track. I'd say a lot of folks read that article because showings on our listings are up again after experiencing a bit of a lull earlier last month. At a recent real estate forum, organized by The Naples Area Board of Realtors, Hank Fishkind, renowned Florida economist spoke the words Naples real estate agents have been waiting to hear..."The markets are not eroding further". Yes, it looks like prices have leveled off, but it will probably take another 6 to 12 months for sales to really start improving in the Naples area. Fishkind described the unsold inventory of new homes in Collier County as "fairly small" while he predicts it will be "years" before prices go up again. He also spoke about the decline in housing starts which will also "bottom" out in 2008. This will make finding new homes around town more scarce in a couple of years. Certain neighborhoods are already rebounding. Why just today I selected 7 homes to show a prospect tomorrow and 2 of the 7 went under contract over the weekend! In the first weekend of May! Yahoo! Usually by this time of year Naples is pretty quiet, but people are coming back to make decisions that they didn't make in February! For a list of what we think are the areas hottest properties email or call us today! michele@naplesrealestate.com or Chip's direct line: 239-370-0574