Mortgage Rate Update

I just received an email from our mortgage rep outlining the following update: Last week, in just two days, the 10 year yield jumped a total of 31 basis points, mortgage rates were up 20 basis points. Market volatility is at extreme levels as uncertainty over the stimulus package, whether taking bad assets of the books of banks will actually work to open credit markets, investors moving more towards high grade corporates as the Feds want inflation back to target levels of +2.0%. They are now at (negative) -0.48%. The budget deficit is now projected to surpass $2 Trillion this year....and the Feds unsettled the markets further by talking of buying treasuries to keep interest rates low! The enormity of all of this is difficult for the average consumer to even begin to comprehend, but one thing is certain...the people I am talking to don't want a stimulus package passed with a lot of "pork" which will damage the economy even more. It is ALL interconnected, which was obvious with last week's fluctuations of mortgage rates. Who agrees that freeing up the credit markets will help stimulate the economy? The good news is: Sunbelt Lending IS making loans and rates are still the lowest they have been in years! ...and although the market is volatile, if you are waiting for them to go lower...it may not happen any time soon. Currently we can offer a 30 year fixed rate conforming loan at 5.25%. Jumbo 30 year loans are at 7.25%. The 15 year fixed rate is at 5.5%. Perhaps the best Jumbo program is a 5/1 ARM at 5.75%. Please call Kelly Rebimbas if you have any questions or comments. Her direct number is 239-273-5239. *Rates are subject to change due to market fluctuations and borrower's eligibility.

We're Going Green

Coldwell Banker Previews International Fifth Avenue South office here in beautiful Naples Florida is "Going Green"! Although recycling is currently not mandatory at business addresses here in Collier County, our office made the decision recently to begin a recycling program. This takes a little bit of effort on the part of the staff and agents, but with over 80 people recycling here at the Coldwell Banker office we now have 4 large recycle bins outside...and the results have been terrific! Coldwell Banker and The Harris-Peppe Team are committed to keeping it green! Our very own Meagan Harris is the only agent listed on the popular search site: http://www.realtor.com/ when searching for a "green" agent in Naples Florida! Meagan prides herself in being Earth friendly! You might want to check out her blog at: http://econaplesrealestate.blogspot.com/ Please call Meagan if you have any questions concerning green builders & neighborhoods in SW Florida! Her direct line is: 239-398-0186

Financing Condos in Florida

It just became even more difficult to finance a condo. Fannie Mae, which buys most of the residential loans from lenders, announced more requirements that only apply to Florida:

• If more than 15% of a condo's units are delinquent in their association dues or fees, Fannie Mae will not back the new mortgage.
• In new condos and condo conversions, at least 70% of the units must be sold, up from 49% previously.
• Down payment requirements could possibly go up from 25% to 40% or more in some cases.

I know there are some obvious backlashes from these new requirements. Potentially prices could drop further, and there could be an increase in foreclosures. However, I believe this will create unbelievable opportunities for cash buyers!

If you have any questions at all regarding today's stricter financing guidelines, I would highly recommend you contact our in-house Senior Loan Officer, Kelly Rebimbus at 239-273-5239. She is happy to answer your questions directly. Kelly is a top professional with whom our team has had the pleasure to work. She can pre-approve you in record time so that when you are ready to go out and find your dream home in paradise, you'll have the tough part, financing, behind you!

Short Sales

In an effort to explain what has become one of the most frequently asked questions of the 2009 season: "What is a short sale?", I will attempt as simple and as concise answer as possible with my limited experience in the matter... When the proceeds of a real estate transaction fall short of what is owed on the property, it is referred to as a "short sale". In many cases the lender agrees to reduce the loan balance due to an economic or financial hardship. The owner of the home is still in title, therefore gets to work directly with the real estate agent in order to come up with an asking price which will create activity on the property and encourage offers. What I have found in many instances is, the home is listed considerably less than the agreed "short sale price". In some cases direct negotiations with the lender do not even begin until multiple offers on the home are obtained...and at times the home actually sells for more than the listed price. Most buyers are finding this confusing and are specifically requesting not to be shown short sale listings. As an example, I recently received a call from a prospect inquiring about a listing which was posted on our IDX site. It was a brand new, waterfront home listed below $1 million dollars and when I looked it up I immediately concluded that it was clearly under priced. When I phoned the agent handling the property he told me the home was valued at over $2 million. He also told me that the home already had over 2 dozen offers and that the highest bid was about $1.6 million. I think you can see why, in any price range, the buyers are a bit confused with these marketing strategies. Keep in mind though, it looks like the home will sell, and possibly for a higher price than if they had listed at market value. By the way, the local multiple listing system now has a category whereby agents can search specifically for short sale and non-short sale listings. The most recent search I conducted determined that approximately 12% of the Naples residential listings were categorized as short sale properties. (This does not take into account foreclosures, which will be another blog post). Up until recently, lenders had few guidelines for dealing with the extraordinary number of short sales being requested. The process and amount of paperwork was cumbersome and they were overwhelmed with the amount of time it took. Today we are beginning to see more streamlined negotiations as banks and mortgage companies are developing departments within to handle both short sales and foreclosures. It is still a relatively complex procedure, but in time, and with new legislation effecting short sales, we should begin to see it made easier. Another side of short sale pricing is as follows: Recently my partner Chip sold a home in an upscale country club community which is not as broadly effected by the short sale situation. We negotiated a sale of a home which was originally bought by the present owner in 2004 for approximately $500,000. In 2006 similar homes in that neighborhood sold for over $1 million dollars. The short sale homes there are now listed in the $800 and $900's. Chip's buyer closed for $775,000. The point again is; in many cases, the short sale listings do not always present buyers with the best opportunities. When it's all said and done, it is always your best bet to work with a seasoned real estate professional with local knowledge and trusted experience.

President Obama's Inaugural Address

I know this is a real estate blog, but yesterday's inauguration will have its effect on all of us in the days and months to come...we must rally behind our new president, and reach across party lines and continue to wish only that goodness and prosperity come to our nation. The day we have long awaited has now come and gone...Our new president is wished nothing but safety and success from us here at the Harris-Peppe Team. No matter your political leanings, was it not truly amazing that President Obama was sworn in with his hand upon Lincoln's bible? ~and, Were you not moved by over 2 million people all saying the Lord's prayer out loud together? The president of the National Association of Realtors offered the following statement, as reported on CNN: "Today is truly a historic day for our country. On behalf NAR's 1.2 million Realtors, we welcome the new president and his administration and pledge to work with them to stabilize the U.S. housing market and set the economy on the road to recovery...NAR looks forward to working with President Obama and his team to quickly move forward with meaningful legislation and policies to help make home ownership part of the American Dream again." Now we can go forward with our plans and our business. Ahead, many challenges, but...a positive outlook and true knowing that tomorrow, and all its blessings, IS ultimately up to us. Destiny IS in our hands. Responsibility and accountability...these are words that shape our country. President Obama's quote from George Washington proves how timeless the laws of truth are: "Let it be told to the future world, that in the depth of winter, when nothing but hope and virtue could survive...that the city and the country, alarmed at one common danger, came forth to meet it." How can we not overcome any obstacle? How can we not succeed? For the inauguration speech in its entirety, please log onto: http://www.mtv.com/news/articles/1603077/20090120/story.jhtml

Equity vs. Bundled

We are well into our "season" and there's been a lot of activity already. Chip was out of the office all day showing condos yesterday; and today he has a 9:00 o'clock, a noon and a 3:00 PM appointment with three different prospects! Our website leads are rolling in daily...If the past two weeks are any indication of what is in store, I think we are going to have a great year! I am nearly finished calculating the 2008 year-end statistics and will be following up this post in a few days with those results. Till then, I thought I would take a few minutes to decipher "Equity vs. Bundled" golf memberships. This is a frequently asked question. I will try to be as concise as possible in my explanation. Most of the golf courses here in Naples are equity courses. In fact, I've heard that we have more private golf holes per-capita than any other city in the United States. Equity courses are private and are usually capped at under 375 members per 18 holes. Initiation costs can vary, but average around $50,000...some of the equity membership initiation fees can be as high as $250,000, as is the case in Bay Colony Golf Club as an example. Many of the private courses also offer Social and Sports memberships which may include some limited golf privileges off-season. When available, most clubs include the social membership in with the full golf equity membership. Some clubs offer 100% refundable memberships if you ever leave the community; others can vary from 50% to 80% equity. These of course are factors in deciding where you want to ultimately live and play. The Harris-Peppe Team has put together a full brochure of Naples Area golf courses and club information, which we are happy to share with you upon request. This brochure lists each course's number of members, designer, total yardage, slope and rating. People usually buy in Naples for one of three reason: Beach, boating or golf. It is our commitment to make your golf course home or condo purchase as easy as possible. Bundled golf is when your full golf membership is included with your home or condo purchase! The golf dues are usually built into the Home Owner's Association fees. Typically the membership is capped at 799 members, which means you will not be able to play golf as often as on an equity course. This will not appeal to the avid golfer who wants to play often. But, the buyer looking to golf a few times a week on a less challenging course will usually like this format. Most of the bundled golf communities have adopted a new computer program called The Chelsea System which keeps track of the members' play dates and tee times in order to keep balance and fairness for all members. One of the really good things about bundled golf, is that the membership is transferable when you sell...it goes with the property! Also, in many cases, a tenant can also use the golfing privileges if the owner transfers membership, making them an interim member during their lease period. This is a big boost to an investor looking to maximize their rent potential. There are many nice choices for bundled golf communities in Naples now. Prices start at under $200,000. for condos to well over a $million dollars for homes in these neighborhoods. Of course, don't forget, we do have a few well maintained public golf courses in Naples, too! Call us today for a complete list of the area Golf Courses & Country Clubs and for a customized list of all golf course residential listings. We look forward to hearing from you soon! 239-370-0574...oh, by the way, that's our grandson Leonardo in the photo!

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

Two Homes for The Price of One!

This is a wonderful opportunity to purchase two beautiful homes in Naples Florida for the price of one! The 3 bedroom main home is a well maintained ranch style residence featuring a split bedroom design, formal living room, a step-saver kitchen which opens up to the family room with vaulted ceiling and an oversized screened porch. There is a refreshing below ground pool surrounded by magnificent landscaping. The cottage style guest house offers two bedrooms plus two full baths, a 2-car garage and a perfectly outfitted granite and stainless kitchen. In addition the cottage boasts a huge screened lanai for hours of outdoor living. All this is located in the prestigeous area of Logan Woods on over 2 acres! Call today to see this fabulous buy! 239-370-0574 ~or For additional photos, a virtual tour and other listing information please visit our website at http://www.naplesrealestate.com/

Happy New Year from NaplesRealEstate.com

A lot of folks were glad to see 2008 come to a close. We certainly had our share of economic challenges, but I always believe, life is easier to handle when you count your blessings instead of your woes. A special thanks right now to all those who helped bring joy and happiness into our lives. Both family and friends as well as the wonderful people we've met through our business contacts and networking! We feel so lucky to be selling real estate in Naples Florida! A year ago when I began this blog my intention was to post entries every few days. Looking back I have averaged just under 1.5 entries per week...not bad for a blogging novice. I've enjoyed the great emails and calls I have gotten in connection with both this blog as well as our website http://www.naplesrealestate.com/ We are presently in the process of creating our 3rd website which is just days away from being unveiled! It's an exciting time here at The Harris-Peppe Team! My blogging goal for 2009 is to post at least 3 X's per week...to continue my upbeat and positive outlook on the market and to create blog posts which are helpful and informative! Any and all ideas are considered and appreciated. If there's a topic you'd like me to write about, please let me know! ~Till next time, we wish you a very happy and healthy New Year!

Room with a View

Buyers ask, "Is there any place that I can get a view in Old Naples"? Frankly, most people don't buy in Old Naples because they're looking for a view- View just isn't the typical reason for living downtown. Most urban-ites want proximity to beach, the shopping, walking distance to great restaurants, galleries, the parks and the live theatre. It's a lifestyle choice...Dinner at Chop's...a play at Sugden Theater...parades, art shows, Evenings on Fifth...But, if you are one of the lucky few to live downtown AND get a view, well, that dear friends is heaven on earth...Neapolitan-style! For those of you seeking the city life with a priceless view your choices are limited; but, we have several selections that even the most discriminating buyers will find hard to resist. Chip & I have been marketing the Olde Naples Seaport since before the 1st phase was more than just an artist's rendering. With 8 of the 15 residences already sold in the 1st phase and new pricing reflective of today's market we think there has never been a better value on the waterfront in Old Naples! All remaining units have over 3,500 square feet of living area with private elevators, 2 car garages and a roof top terrace featuring a hot tub under the stars! In addition to the town homes available in the 1st phase, there is an extraordinary, one of a kind penthouse in phase 2 for sale with breathtaking direct views of Naples Bay that are beyond description. Come see for yourself! Call us today for details and to schedule a private appointment to tour these fabulous properties! 239-370-0574 Thank you.

2009 Real Estate Predictions

I always try to keep this blog as upbeat as possible. I would like to make a few predictions about where I believe the real estate market in general is headed in 2009. Most of the end results will be very positive, and by this time next year I predict the recession will be over!

• Sellers will continue to face falling prices because they are competing with 1.) banks with larger than normal inventories of foreclosures and 2.) builders who are slashing prices to sell off remaining product.
• Mortgage holders that are in trouble and face the possibility of losing their homes will receive assistance from a variety of programs since the Senate's Joint Economic Committee has predicted 2 million foreclosures in 2009.
• The banks will go through a necessary restructuring making short sales easier to obtain, therefore leading to fewer bank owned properties. Hurray!
• The days of abusive lending practices is over. Thank goodness! Buyers who need mortgages will be required to provide extensive documentation as well as having excellent credit...you know, the way it always should have been!
• There will be a renewed interest in urban living due to buyers wanting to live closer to work, schools and shopping. Much of this is the new "Go Green" philosophy...I predict there will be a demand for smaller, more energy efficient homes close to downtown areas.
• Both buyers and sellers are becoming more tech savvy. I strongly believe that real estate companies & agents who rely on technology for marketing such as websites, social networking groups, multiple photos and video tours, webcasts & podcasts, blogging and other Internet options as well as those using a laptop with wireless or aircard capabilities for "mobile" searching will lead the charge into the new year. Staying ahead of the curve will be necessary for maintaining a market share in today's ever changing real estate climate.

The Harris Peppe Team is committed to staying ahead of the curve with regard to Internet marketing. We strive for customer service and we look forward to continuing our track record of success and earning your business in 2009!

"I skate to where the puck is going, not to where it has been." ~Wayne Gretsky

More Good News

Yesterday, December 16th, 2008: The Federal Open Market Committee voted to establish a target range for the Fed Funds Rate of 0% to 0.25% from 1%. American banks have responded by cutting their prime lending rate by 75 basis points! This translates to the lowest rate in history! Wall Street approved the move by closing the Dow Jones up 359 points...both the Nasdaq and Standard & Poor's 500 index rose more than 5%. Many analysts believe the worst is behind us. Both Anthony Bolton and Warren Buffet predict we are entering a "Bull Market". However, the "price" of money doesn't seem to be as important as the "availability" of money; it is yet to be seen whether this bold move will have an effect of the distressed housing market. Banks are hoping that if consumers are able to get equity lines of credit, this could help spark the economy. ~And since, there is little room to cut rates further, the Feds will have to look to other means of attracting home buyers into the market...It sure looks like everyone is committed to making home buying more affordable. Real estate is the backbone of this nation's economy. Let's hope these rate cuts spur lending! My thinking is that those "baby boomers" with strong equity in their primary homes up north that are looking to invest in a retirement home in Florida could just take that equity out at a very reduced interest rate and pay cash for an investment in the sunshine state and get quite a bargain at that! Just a thought... Some interesting info: The cumulative average of The U.S. Prime Rate from 1947 to the present is 9.842%. The most frequent value from 1947 to today has been 7.5%. The median U.S. Prime Rate during these same years has been 8.75%. The all-time high was in December 1980-January 1981 at 21.50% (the year I got my real estate license). Today's Rate of 3.25% marks a new low! The next meeting of the FOMC will be on January 28th, 2009. Maybe lower? With today's real estate prices and interest rates, there truly NEVER has been a better time to buy! Call us today. We look forward to earning your business! 239-370-0574

To Decorate or Not To Decorate

Several of our sellers have called us to ask if they should decorate their homes for the holidays. Most of the time this is absolutely appropriate. I always like going into a beautifully adorned home this time of year...especially one with a "real" tree! It always smells so nice. I would say you really must use discretion, but it has nothing to do with holiday displays. If your home is crowded with excessive decorations that's another story all together...Also, if you are just now getting ready to list your home keep in mind that all the marketing that will be done now (photographs, virtual tours, etc) will have poinsettias, snowmen and Santas in the brochures long after the tree has been taken down. So, go ahead and decorate to your heart's content. This is a wonderful time of year and just because your home is on the market shouldn't mean that you don't enjoy living in it! Prospects know that this is the holidays and most of them comment favorably at all the pretty decorations.

New Naples Listing!

Beautiful new listing located directly on over 150' of Naples Bay waterfront! Breathtaking views of sunsets and city lights across the bay...sit by the pool and watch dolphins jump as boats cruise by...This is waterfront living at its best! Spacious 4 bedroom residence has been meticulously maintained. Close to beaches and all the wonderful downtown amenities. Additional photographs and a virtual tour can be viewed at http://www.naplesrealestate.com/ or call today for a private showing: 239-370-0574.

Giving Thanks

Chip and I are up at our cabin in the mountains of North Carolina with 3 of our kids and 5 of our grandkids. When I woke up this morning and looked outside the early sun was peeping over the distant mountains, streaming through the trees and dancing on the frosty branches. Bear Pen mountain is visible through the bare trees this time of year...the back of the house faces east and I sat and drank my hot coffee and watched a lovely sunrise...taking in the beauty of the view and enjoying the quiet before the house would be alive again with children's giggles and cheering for ones favorite football team. My heart is filled with gratitude for all the blessings in my life. Good health, a wonderful husband, healthy and lovable children and grandchildren, a very special mom, great friends and family. Thank you God. Happy Thanksgiving!

Market Share Comparison Report

This bar graph depicts the market share of 7 of the top real estate companies in Southwest Florida based on information obtained from SunshineMLS and FtMyersMLS for the periods beginning on January 1st 2007 through October 31st, 2008. The blue bars represent 2008. As you can see, Coldwell Banker Residential is #1 with a 12.3% market share. You can make the graph full size by moving the cursor over it and clicking. Please feel free to call us with any questions or comments. 239-370-0574 direct or you can email us by logging onto our website at www.NaplesRealEstate.com We look forward to hearing from you soon! Thank you and have a great day!

A Day in the Life of a Naples Real Estate Agent...

I started my day early (about 4:00 am) working on the details concerning a counter offer...the home is listed around $1 million...the buyer offered considerably less...the seller would not even counter...NEVER has the divide between what a seller thinks his home is worth and what a buyer is willing to pay been so great! Next, I went to see a very nice couple who bought a condo from me about 4 years ago...since then they made a second purchase in the same neighborhood directly from the developer (as an investment)...They called me to discuss listing it. They were listed earlier in the year with another agent for $999,000. It was my job to break it to them, as gently as possible, that due to the current inventory and closed sales they were going to have to keep the price under $700,000...All in all they took it well. They are, after all, business minded and understand the current market conditions. It was a good appointment and I feel optimistic about the saleability of the condo...But, being the bearer of bad news is NOT getting any easier for me... My next stop was to write up an offer with a buyer who looked at a condo with me yesterday. The property is in the neighborhood where she lives so of course it made the most sense for me to drive back there (about 35 minutes from downtown Naples where my office is located) rather than meet her here...When she answered the door with, "I guess I should have called you"...Well, the appointment didn't take as long as I anticipated... By noon I was on my 4th appointment of the day with a lovely young couple who are considering relocating to the Naples area. He had been on a very promising job interview and they just wanted to look at a couple of homes as possible rentals. Now, I don't normally handle rentals, but felt compelled to take care of this family (they have four kids) as I would hope someone would take care of any of our kids if they were far from home in the hands of a perfect stranger. The meeting could not have gone better. They liked the first house I showed them and I teased them about being so difficult! When they find out whether or not he's got the job at least they know they have a good home in a safe neighborhood picked out. ~and I feel very good about earning their future business. The day is looking up... Back at the office I proofed a few ads, returned a few calls, got caught up on emails...one of which from a seller with whom we met yesterday on a listing appointment who chose to inform us via email that they were going with another agent...Ah! -we really wanted that listing! I'm feeling sad again...Then I got a call from a really nice man that I met with his wife last "season" at an open house. He recently received a "Just Sold" postcard from us...we talked about the market, sales in his neighborhood, what his competition would be if they decided to list and he ended the conversation saying, "We would not list with anyone else"! Yeah! It was a great call and I am starting to feel better... It's after 4:30 and I have been going strong for over 12 hours and I just realized that I forgot to eat lunch...a few more things to take care of here after I finish this blog entry then get appointments ready for tomorrow and head home hopefully before dark... A Day In The Life...and at the end of the day, I still like my job...and the challenges will only make me a better real estate agent. Call me...I will always make time for YOU: 239-250-4370

Three Choices

A lot of good things come out of our weekly sales meetings...I've been attending sales meetings every Wednesday morning for over 27 years. Some are better than others; some have interesting guest speakers, MLS trends & statistics...We get to tout new listings, share ideas, discuss price adjustments... This morning my broker wrote 3 things up on his easel... 1. Stocks 2. Real Estate 3. A Coffee Can With one question he put the current market into perspective: "Where would you put your money today?" Okay, those are your three choices, so now I ask you, "Where would you put your money today?" 'nuff sed...call us!

A Thank You to Our Veterans

President Woodrow Wilson proclaimed November 11th Armistice Day to commemorate the end of WW I. Congress changed the name to Veteran's Day in 1954, now a legal holiday in the United States. On this Veteran's Day, please join us in remembering those who have served our nation with valor and bravery. We salute you and respectfully recognize the selfless act of putting ones own life on the line for freedom and democracy. It is with our deepest gratitude that we honor your service and sacrifice. Take a moment today to thank a veteran...and every day, each chance you get, express your thanks for the commitment of our armed forces who by their tireless efforts bring liberty and human dignity to the world.

More Naples Real Estate Stats

Things really picked up the first week of November. Showings are up, sign calls are up, Internet leads are up...even morale is up. I thought I'd share a few more stats with those readers who have called and asked questions about specific neighborhoods and the market in general. In the first week of November 2007 the local multiple listing system reported 98 residential properties going under contract (also known as "pendings") and 68 closed sales. This year we saw that increase to 165 pendings and 97 closed sales during that same time! 22 of the pendings were listings priced over $1 million. 118 were listed under $300,000. Areas that are fairly even to their average sold prices in the last 12 months as compared to the previous 12 months are: NA01: North of 111th Avenue North and west of U.S. 41; NA02, Vanderbilt Beach area; NA04 Pelican Bay area and NA19, Lely area. NA05: known as the Crayton Road area, which includes Park Shore and The Moorings is at $1,190,368 average sold price in the past 12 months as compared to $1,420,783 in the prior 12 months. Old Naples: NA06, is down from $1,597,183 to $1,109,895, and Aqualane-Port Royal: NA07 has seen a significant decrease with an average sold price of $3,807,625 in the last 12 months as compared to $6,344,029 in months 24-12. However, this area now has an average of 5 closed sales per month in the past 12 months as compared to 4 when going back 24 months; a 20% increase in the number of sales closing. If you would like an analysis of your home or of a specific neighborhood, please either call (239-370-0574 direct) or email any member of The Harris-Peppe Team today. Also, we welcome you to log on to our website, http://www.naplesrealestate.com/ and look in the menu bar for "Neighborhood Information" where you will find additional information about many of the areas we report about on this blog. Thanks and make it a great day!

Another Beautiful Day in Paradise

I have always loved this time of year... When I was a little girl, I used to look forward to raking leaves with my grandpa...the laughter, the jumping into piles and the smell of burning leaves vivid in my memory. I would say the changing colors of the leaves is the one thing I miss the most living here in Naples...Oh, snow on Christmas morning always a child's favorite, but now I much prefer the beautiful soft, white sand of the beaches to that colder, wet white stuff from up north. The majesty of the golden amber, burnt orange and crimson red landscape is now replicated around my home with silk leaves bought at a craft store and pumpkins from the grocery store in a variety of shapes and sizes set atop most of the tables in our home. No matter where you live, this time of year also reminds us of how quickly the days have flown by as we see holiday decorations in all the stores. Soon it will be Thanksgiving, my personal favorite holiday because it focuses on what family and love is all about: Gratitude. No messing up this holiday with gifts and guilt...It's pure, it's perfect...It's just about counting blessings. Right now it is 72 degrees outside and the sun is shining....There are no leaves to rake, but the humidity is low, there's a slight breeze and the palms are lovely and the orchids are blooming (see photo inset)...I was trying to come up with a topic to post on my real estate blog today and this was all I could come up with as I sat at my desk gazing out the window...It's another beautiful day in paradise...and I am blessed.

A Defining Moment

Two wonderful speeches last night... McCain's words brought tears to my eyes as I watched this hero concede in a most honorable and gentle manner. I believe the world looked at him with admiration and the utmost respect which few people have ever deserved more.. Obama's speech inspired a nation. I was equally proud of his accomplishment, the obvious emotion as he expressed so eloquently his awareness of the place in history that he alone can claim. America's healing can now begin. Now, let's get back to the order of business...Let's support one another and look ahead with hope and courage to the challenges that lie ahead...Let's seek out the things we have in common rather than the things that set us apart. "Though passion may have strained, it must not break our bonds of affection" Abraham Lincoln

Did you vote?

My alarm was set for 6:00 am, I was up and out of the house with such enthusiasm this morning. Wanting to get to my precinct early, expecting long lines...at first I thought they moved the precinct without telling me. "Am I at the wrong place?" I actually found a parking place right up front and once inside I checked in immediately...It felt a little funny going back to the "color in the circle" ballot rather than the electronic ballot that we've all gotten used to...I had my sample ballot in hand, approached the voting booth and I don't know what exactly came over me, but I welled up with tears. How blessed we are in this amazing country to be able to vote. What a privilege and honor it is. This is a very emotional election...and I for one don't care who you are voting for...this post isn't about your choice, it's about having choices! My family is made up of Republicans and Democrats with a couple of Independents and Libertarians thrown in just to keep it interesting...We are wonderful mix of conservatives, liberals and moderates...and you know what? We all love each other. We are what America is all about. Yes, what an exciting election indeed...In my house my husband and partner, Chip, who became an American citizen last year is voting for a president for the first time...tonight we will watch the results together and know that we were both part of the process, and regardless of who wins we will wake up tomorrow morning knowing that we live in the greatest country on earth. If you haven't already voted, get out there! It is your duty as a citizen.

More Naples Real Estate Stats

October, which is typically a big listing month, saw a 7% decrease in listings taken when compared to last October. New listings this year totaled 1,696, in October 2007 new listings totaled 1,818. This information is based on data derived from the Naples Multiple Listing System known as SunshineMLS, and only Residential listings in Naples were used for the results. The really good news is our "Pending" sales were way up last month when compared to October 2007: 332 pendings vs. 567 in October 2008. That's a huge jump in units! Sales pended are always the best barometer to determine what is happening in the market now. In October 2007, 38% of the sales which pended were priced below $300,000. Comparably, 74% of the sales which went under contract in October 2008 were listed below $300,000. This is in direct correlation to the increase in the number of listings available in the under $300,000 price range. In addition, last October 14% of the sales which pended were listings priced over $1 million. This October listings priced over $1 million made up for less than 6% of the pendings. Many of the high end buyers we are working with are waiting to see how things settle out, but they are actively looking. Our listings saw a 422% increase in showing activity last month. ~and This will certainly result in offers. Please let us know if you would like us to do a more specific analysis of a particular neighborhood or condominium. It is always our pleasure at The Harris-Peppe Team to answer questions without any obligation. We welcome your comments and look forward to earning your business. 239-370-0574

It will be nice...

It will be nice for this election to be over...I can't count how many times in the past month the prospects I have talked with have used it as an excuse to put off making a decision...."Oh, after the election we will be in a better position to make a decision"...or, "We are waiting to see who wins before we book a trip to Naples to look at real estate..." and so on and so on. You get the picture. My years of experience tells me that after the election true buyers will buy regardless of who wins; and the not-so-true buyers making excuses will find another excuse...so, who wins is not really an issue with them anyway. It will be nice to reclaim a little peace and quiet at the end of the day without the evening news blaring the moment I walk in the door...and whomever is placing the candidates' signs in our front yard after dark each night will need to find another prank to pull... It will be nice when the water cooler discussions are about great condo buys and football again, ~and dinner conversations with friends and family alike go back to talking about holiday plans & vacations, diets & health issues...grandchildren...yes, that will be nice... It will be nice when all the t.v. political commercials are finally over...and all the signs around town come down...(except the For Sale signs of course)...Hmmmm...I wonder why it is that I am only allowed one open house sign on a property when I'm trying to earn a living on a Sunday, but dozens of candidate signs litter the landscape during election time... It will be nice...