Beauty On The Bay!

Palatial Estate

Fabulous opportunity to buy a palatial 5 bedroom estate with breathtaking bay views, new 90' dock plus protected boat slip! Attention to detail beyond reproach. Click here to view virtual tour. For a personal tour of this majestic residence, or for additional information, call us today at 239-370-0574. For information about this and other multimillion dollar homes in Southwest Florida, please log onto our newest and most exciting website to date at: www.NaplesPreviews.com Thanks, and make it a great day!

Naples Real Estate 1st Quarter Statistics

Pending home sales are at their highest point since 2005!

It has always been my contention that the best barometer to judge the "temperature" of the market is by studying pending sales. In a report recently released by the Naples Area Board of Realtors, January 2009 showed the highest number of sales pending since 2005. This is a key indicator of buyer activity. The first quarter of 2009 came and went quickly. -and We have been very busy showing and selling real estate...At yesterday's weekly business meeting here at the Coldwell Banker Fifth Avenue office, our broker announced that we, The Harris Peppe Team, were the top agents for written business for the first quarter! Here are some *statistics and comparisons that I think you will find interesting:

1st Quarter Pendings 2008: 1668

1st Quarter Pendings 2009: 2775

2008 Pendings with a list price over $1 million: 231

2009 Pendings with a list price over $1 million: 154

2008 Pendings with a list price under $300,000: 773

2009 Pendings with a list price under $300,000: 2068 Total 1st quarter closed units 2008: 965 Total 1st quarter closed units 2009: 1285 Median Closed Sale Price in the past 12 months: $247,327. Average Closed Sale Price in the last 12 months: $484,213. Available inventory in all price points in January 2008: 12,086 Available inventory in all price points in January 2009: 11,308 All indicators point to the fact that we are at, or near, the bottom; however many predict that the number of short sales and foreclosures could continue to effect the lower price points (particularly in the under $500,000 range). When looking at the pending numbers of the Previews Properties (listings priced at $ 1 million or above) it is quite obvious that they are also feeling the downward pressure of pricing. The listings that are most likely to sell are those which are the most aggressively priced. The buyers are out there, of that I am certain, but never before has perceived value played such an important role in determining which home will sell. There has never been a better time to buy real estate in Naples Florida! Please feel free to call or email us today for a more detailed report of any specific community in the greater Naples area. We look forward to hearing from you soon and hope to earn your business. Thank you and make it a great day! 239.250.4370 *Statistics were calculated using data provided by SunshineMLS and reflects Naples residential properties.

Coldwell Banker's newest "Portraits" Campaign

The Coldwell Banker 'Portraits' campaign, which was originally released in 2008, has begun its 2009 multimedia roll-out highlighting the company's experience and innovation. Remember, Coldwell Banker has been successfully selling homes for 103 years! That is unprecedented in the industry today. The first spot, Iconic Homes, features notable properties such as The White House, Frank Lloyd Wright's Falling Waters and the Jetsons' space age residence. The final tag line re-emphasizes our now famous slogan, ..."we never stop moving." It is a super one minute commercial! The second spot highlights how consumers today are empowered by technology. The wealth of information available online is practically unmeasurable! I know you will find this commercial equally entertaining. Michael Fischer, Senior Vice President of marketing for Coldwell Banker Real Estate LLC was quoted as saying, "Along with reaching consumers on an emotional level, these new commercials highlight how we provide listing information to consumers anytime and anywhere they want it. Relatively speaking, we may be an "old" company, but we've got a bag full of new tricks! Call today, and let us put our experience and technology to work for you: 239.250.4370

Million dollar views!

Today I want to share with you one of the best buys in a perfectly maintained building along Gulf Shore Blvd. located on the bay with easy beach access across the street at The Moorings private beach. This remodeled 2 bedroom condo offers dazzling gulf and bay views, new impact windows, professional on-site management, fitness room, over-sized pool and docks available! Best of all, this home is priced below $500,000! You're just minutes from the downtown area where all the Olde Naples shoppes and restaurants beckon you! This is a true Florida lifestyle. Check out the virtual tour and call us if you'd like a personal tour of this property today! 239-370-0574 Thanks and have a great day!

Newest member on the Team!

The Harris-Peppe Team proudly welcomed their newest member to the "family" today. Actually, it IS the newest member to the family, not really the team! Our very own Meagan Harris and her husband Jay welcomed baby Liv to the world this morning while Auntie Kiki (Krista), Mimi (Michele)& Papa (Chip) were all close at hand! Liv is a beautiful baby girl who weighed in at 6 lbs 5 ozs. and measures 18" long! Her big sister Paige was delighted to finally meet the little person that she has been hearing about all these months!

The Circle of Loves gets bigger all the time!

More Good News

It was refreshing to logon to my networks this morning and read the reports about the upturn in the real estate markets around the country! Existing home sales rose at the fastest rate in over 6 years! Check out the following links for more good news! Inman News Fox Business I'm here to tell you, "housing WILL lead this country out of its recession"! Specifically, here in Naples, there are currently 10,886 Active residential listing being offered through our Multiple Listing System. There are 1,387 homes and condos under contract (Pending). There have been 1,085 Closed Sales Year to date; as compared to 853 for the same time period last year! I am energized to think that I am part of this exciting industry at this crucial time. For additional information about what's selling, please call us today! 239-370-0574 Thank you. I hope to hear from you soon!

Just a few things...

It's been another busy day showing and selling houses in Naples Florida, but I wanted to post a couple of things that I thought were important.

• Jim Gillespie, President and CEO of Coldwell Banker Real Estate LLC is going to appear on the "Roadmap to Rebound" segment hosted by Maria Bartiromo on CNBC Friday March 20th at 4:30 PM to talk about the current state of housing. I would highly recommend you tune in if you can. Jim is always an eloquent speaker, and we at Coldwell Banker are fortunate to have his leadership.

• Kelly Rebimbas, Senior Loan Officer at Sunbelt Lending sent out the following newsflash; as reported by the Shirmeyer Rate Market Report, Sigma Research, Inc.: "Big moves from the FOMC as we expected. The FOMC is increasing the MBS purchase program another $700B, taking the total to $1.25T; the Feb will buy $300B in US treasuries through the rest of the year. The Fed will add another $100B of purchases of Fannie and Freddie debt. A market surprise. The Fed is now walking the walk that BOE and BOJ have announced this past week. A huge help for the re-financing of mortgages if the amount the Fed will buy of MBSs is considered enough to get the 30 year fixed down to 4.5% -We will see what happens...Finally someone in Washington has gotten off the dime and did something of serious direct magnitude."

For more information please go to: http://about.reuters.com/productinfo/tradermortgages/besmarter.aspx This report is published each day at 10:30AM and 4:30 PM. Thanks and have a great evening.

Complimentary Staging Services

Recently, The Harris-Peppe Team began to offer a new service, free only to our clients and customers. *Staging is fast becoming one of the best solutions in helping to make your home stand apart from its competition. ~and We've had great success! As an example; one of our listings, in Pelican Bay, which had been on the market for a long time, went under contract shortly after we finished the staging process. Currently, in that particular community, there are 12 active listings and only one property under contract! Staging gives your home the edge during these tough times. Of course, all the usual factors are important in today's market: Price, location and condition; but, by staging a home and improving its condition you improve the chances of getting it SOLD! Another example is a coach home that we have listed in Lely within a neighborhood that has 14 active listings. Currently 3 condos are under contract...and ours just so happens to be one of them! Once again, we believe that staging this home gave it the edge it needed in a crowded market. If you would like additional information about this service please call or email us today. One more advantage to listing or buying your home with The Harris-Peppe Team! 239-250-4370 direct harris-peppe@naplesrealestate.com *Staging is a process of eliminating clutter, accessorizing, rearranging existing furniture, adding a few new pieces and removing the personal items that might distract the buyer when looking at your home. We offer this service for free. Any items and/or furnishing purchased during the staging process are paid for by the customer. Proposals are always within the customer's budget. Any expense that exceeds the written proposal is paid for by The Harris-Peppe Team! Our professional staging services are conducted by Fern Peppe, a talented decorator who has been in furniture sales for over 40 years. Read more about Fern on our website.

Just Another Beautiful Day in Paradise!

We are so busy we can't see straight....no complaints here mind you; just an observation...In addition to showing homes, negotiating contracts, managing files, processing new listings, accompanying on showings, checking email as well as checking Twitter, and Myspace, and LinkedIn, and Facebook...and now a new social network called "Ning" that I just read about...whew! ~and proofing ads, and writing letters, and doing mailings, and returning phone calls, and so on and so on...Who said this is not a "real job"?? --Afterwards of course I need to squeeze in eating & sleeping...and spending time with friends & family, volunteering...not to mention keeping up with the gardening, grocery shopping, laundry...AND let's not forget watching Idol, and Lost, and Survivor, and the Apprentice, and The Amazing Race...oh, and let's not forget blogging!! No, no complaints here. I love my life, I love my loved-ones, I love my job, I love Naples! Now, I best get back to work!!! Happy St. Patrick's Day one and all, and may you all feel as lucky as I do today! Blessings to you from the Harris-Peppe Team!

Super New Listing!

LIVE . GOLF . DINE . RELAX . ENJOY

Wonderful opportunity to own an exceptional residence in Arnold Palmer's signature course! The many features of this home include a great room with soaring ceilings, 3 spacious bedroom suites, a luxurious master retreat, perfectly appointed den with custom desk and built-in cabinetry, oversized-island kitchen with walk-in pantry and a casual dining area plus a formal dining room, side entry 3 car garage, a wonderful course-side pool and outside entertainment area surrounded by lush landscaping, and best of all, Full Golf Membership is INCLUDED in the purchase! Call today to see why this lovely home located in the Estates section of Naples lakes is the best value in town! You do the search...compare the size, view, community, amenities, age and location of this fabulous home! This is the Lifestyle you've been dreaming of! For additional photos and a virtual tour of this home, please log onto our award winning website at www.NaplesRealEstate.com Thank you! We hope to hear from you soon!

Do You YouTube?

Do You YouTube? If you've been living on a secluded island for the past 4 years, click on the link and learn all about! In an effort to optimize our web presence, The Harris-Peppe Team has been placing all of our listings on Youtube! Who doesn't "youtube" these days? Just click on the link and check it out! Thank you, and I hope to see you soon in paradise!

Spring Lake Restoration in downtown Naples

Right behind our office, in the alley behind the businesses on Naples' main street: Fifth Avenue South, there's a special little surprise in store for those of you who like to take the path less travelled. I always prefer to walk or bike in the alleys in Old Naples because there are so many wonderful treasures to discover. Recently Spring Lake underwent a beautiful restoration and this lovely deck and arbor were constructed. It's one of my new favorite destinations during the day when I need a little "mini-vacation". Ten minutes sitting on one of the benches, looking out over the lake, watching the ducks and birds and listening to the fountain and I am recharged. Imagine, this sweet place is only a few blocks to the Gulf of Mexico. Here is some interesting information about the Spring Lake project: Establishing Floating Islands: Floating Islands provide space for aquatic vegetation to be planted where littoral zones are not present. Floating islands are buoyant. They are comprised of recycled plastic bottles and foam. The aquatic vegetation is then planted in a unique biomix of soil. Once planted, the island is then launched and anchored in the lake. Aerating The Water: Fountains, or the more effective "bubblers" that lie on the bottom of lakes, increase the amount of dissolved oxygen in the water which is necessary for the survival of fish and fauna. Aeration also keeps algae growth under control and improves the overall health of the lake.

Coldwell Banker is #1

The Coldwell Banker brand continues to be the most innovative and responsive real estate company in the industry today. Here are just a few examples of what we did in 2008 to solidify our stature as the # 1 real estate franchise in America! Coldwell Banker became the 1st national brand with presence in Facebook and 1st with a real estate Facebook application, Housetrology. Coldwell Banker is the 1st national real estate brand to allow consumers to search for listings on their GPS through Dash Express. For the 9th year in a row, Coldwell Banker Real Estate LLC was named the #1 real estate franchise by Franchise Times magazine. Our President & CEO, Jim Gillespie, continues to be one of the most relied upon real estate experts within the media outlets. Jim was asked to be the exclusive real estate correspondent with Neil Covuto on Fox Business News Channel after the last presidential debate last fall. Coldwell Banker became the 1st real estate brand with a mobile site for both the iphone and Blackberry as well as other smartphones, including the ability to search for listings & sales agents. -And, just announced yesterday, Coldwell Banker Real Estate LLC announced the launch of their customized real estate application developed for Microsoft Surface. This home search application will allow the consumer to interact with home listings, mapping and other www.coldwellbanker.com features in a way that is familiar by using simple hand gestures; similar to the intuitive technology demonstrated in the futuristic film: Minority Report. You can expect to see this technology rolled out at events and offices around the country throughout the year. Yes, Coldwell Banker is #1! Call us today so that The Harris-Peppe Team can make you our #1 customer! 239-370-0574

Business is Great, Life is Good

TURN YOUR TVs OFF NOW! STOP READING THE PAPERS! Naysayers beware--I am tuning you out and tuning into my own optimistic, gut feelings, common sense, faith in humanity, observant, hopeful, inner child! "Business is great, Life is good" If I hear the word "CRISIS" one more time, I'm going to scream! Okay...so if a tree falls in the forest and there's no one there to hear it, does it still make a sound? ...I am now convinced that the answer to this proverbial question is NO!!! No sound...absolutely, no sound! So.......if the major networks and the politicos are spewing off their fear based, negative spin about the terrible state of the economy, but no one in Naples tunes in to hear them, is there still a crisis? Hello-oo, again, I say the answer is NO! A big, fat emphatic, NO! Just take a gander at our the February stats and then you tell me....Is there a crisis in paradise?

• Residential "Pendings" February 2008: 540

• Residential Closed Sales February 2008: 263

• Residential "Pendings" February 2009: 904

• Residential Closed Sales February 2009: 405

Yeah there's a crisis! --and The crisis is: No one is giving us something to shoot for anymore. We are rewarding the under achievers, bailing out the irresponsible, and wallowing in this whole pitiful mess! Let me tell you, there are excellent buys in Naples Florida! --and The sun shines here almost every day! It was 75 degrees today! I've got grapefruit and oranges growing in my back yard for goodness sake!

There are 78 million baby boomers beginning to retire this year...I only need to connect with a couple of dozen of them each year to make an honest living!

Listen, I'm not saying that we should look the other way & it will all go away...I'm saying, "let's choose to participate in the recovery"! Yes, there are some issues that definitely need resolving, but nearly 1000 buyers made the decision to move forward despite the naysayers and went into contract on a home or condo in the past 28 days in Naples Florida! Fifty two of those contracts were for over $1 million dollars! A few were for over $10 million dollars! Call us today and let us share some of the "Good News" about Naples Real Estate with you! We hope to hear from you soon, and we look forward to earning your business! 239-370-0574

We're Busy!

Just a couple of things today... I had the pleasant experience today of driving from CR 951 (aka Collier Blvd.), which is approximately 3 miles east of I-75, all the way to U.S 41, on the recently completed east-west artery, Vanderbilt Beach Extension Road! What a wonderful ride. I am sure that all the sub-divisions in that area are thrilled to finally be done with the road construction. This will make the commute to and from that area a breeze! Also wanted to add a bit of news which appeared in today's Florida Association of Realtors online newsletter. Up until now, the National Association of Realtors has been very supportive of the Obama administration's housing and stimulus plans. However, today the NAR voiced their opposition to a budget proposal that would impair mortgage interest deductions for 100's of thousands of home owners. Click here to read the full article. One more thing...Chip and I are having a great month! January was terrific, February has been even better, and we are very optimistic that the next couple of months are going to break records! Our listing inventory is bursting with good-buys, we can hardly keep up with the leads from our websites, showing activity is up 178% over the first 2 months of '08--and we are making sales! Interest rates are still low and our loan officer, Kelly, is making loans! The weather is near perfect! It's a great time to buy! We hope to hear from you soon!

What is Previews?

Since unveiling our newest website: http://www.naplespreviews.com/ we've been asked, "What exactly is Previews?" Here's a little background... In 1906, a young real estate agent in the San Fransisco Bay area recognized that while people were trying to piece their families back together following the massive earthquake, there was a need for honest, knowledgeable real estate agents. Colbert Coldwell founded his company with, what was at that time, a revolutionary philosophy: "The customer's best interest above all." In 1914 Benjamin Arthur Banker joined Coldwell as a full partner and together they forged a tradition of integrity which is still the benchmark by which all firms strive to this day...Then, The Previews Program was founded in 1933 by Henderson Talbot, a young entrepreneur who was one of the first to market real estate beyond his local area. He specialized exclusively in luxury homes, and marketed them both nationally and internationally. Coldwell Banker Real Estate LLC acquired this program and continues to build its success through the Coldwell Banker Previews International brand. Through the Previews Program, Coldwell Banker has represented an impressive array of real estate and a notable list of clientele. Previews works with more celebrities, dignitaries and affluent buyers than any other Florida Real Estate firm! Worldwide Coldwell Banker has over 3,700 offices in 47 countries. Our track record in Luxury Real Estate is unmatched, selling more luxury homes internationally than any other real estate company. Over 50% of the million dollar + homes in the United States are sold by Coldwell Banker...We handle an average of One hundred and one million dollars in luxury home sales every day! We believe the marketing of Naples magnificent luxury residences demands the expertise of a Previews Property Specialist. Please call The Harris-Peppe Team and let us show you how we can strategically market your home to an affluent audience in search of multi-million dollar estates. 239-370-0574. Thank you. Have a great day!

Going Live! New Website Unveiled!

After months of outlining, creating, editing, taking professional photos (Amber Fredericksen), interviewing clients for the concierge, working with our webmaster (exploritech), the IDX site tech ...hours, days and weeks of hard work by our very own wonderful and amazing marketing coordinator: Sam (thank you! thank you!)...After "tweeking" and streamlining, and eliminating, and adding on, and working it out and fitting it in...color selections, font selections, music selections, etc etc etc...We have finally, FINALLY gone live!!! woo hoo! Introducing: Naples newest and most exciting website, designed specifically to cater to Previews Properties and the luxury home buyer. Check it out and give us your feedback, please! We hope to hear from you soon, and as always we look forward to earning your business! www.NaplesPreviews.com *Previews is the luxury home division of the Coldwell Banker brand!

Even More on the Bright Side...

Today I am chosing not to talk about the American Recovery and Reinvestment Act...Instead I thought we could all use a little more beauty in our lives...How about this photo for the "brighter side of things"? ...a sunset in Naples Florida in February! --ah yes, life is good!

Back On The Market

This is an unbelievable opportunity to own a 4,908 square foot condominium directly on Naples Bay at the prestigious Olde Naples Seaport! Only two penthouses exist; and the South Penthouse sold in October 2006 for $3,100,000.! Now, the North Penthouse is "back on the market" and being offered for $2,395,000.! This spacious, never lived-in 3 bedroom plus den residence boasts attention to detail beyond reproach, a private 2 car garage, wrap-around balconies ensure forever views, gourmet granite kitchen, king-sized Master suite, and just steps to the pool--Best of all...walking distance to ALL the wonderful downtown amenities that Old Naples has to offer...Pristine beaches, the historic district including breathtaking sunsets at the 1000' Naples Pier, fabulous Fifth Avenue South with its renowned shopping, restaurants, art galleries and live theatre! The Olde Naples Seaport is the perfect place for creating life-long memories, romantic retreats and fun filled getaways with friends and family. A beautiful place to enjoy the natural beauty of Naples bay with a world-class marina right outside your door! Moorings are available for yachts up to 150'. A virtual tour of this bayfront home as well as the other properties available at the Olde Naples Seaport can be viewed on our website at www.NaplesRealEstate.com Or call us today to arrange a private showing: 239-370-0574 "You can't direct the wind, but you can adjust your sails"

The Bright Side

I heard on the radio one day last week that Florida's Senator Bill Nelson's office had received emails and phone calls encouraging him to vote against the Stimulus Bill at a 7 to 1 ratio...other reports said the American public was against this bill at a ratio of 9 to 1. With that being said, it is about to become law, if as planned, President Obama signs it on Monday or Tuesday. I'll leave much of the 1,000+ page stimulus bill to the pundits to dissect and debate...but I thought I'd fill you in on a few of the "real estate" specifics. Here's the good news:

1. The loan limits will be raised to $727,000 in "high cost" areas.
2. The first time home buyer tax credit will be raised to $8,000 with no payback clause.
3. Approximately $50 billion will be used to re-write mortgages that are struggling to meet payments. Owners will have to go through a "stress" test of sorts during this foreclosure mitigation process.
4. "Fannie" agreed to lift the cap of 4 investment properties eligible for mortgages and raise it to 10.
5. We preserved many of the existing real estate tax credits such as mortgage interest rate deductability and the $250,000/$500,000 cap gains exclusion.

Early reaction to the stimulus bill is mixed, but many folks I'm talking to wonder why are we helping the people who haven't been paying their mortgages while those who pay on time each and every month are not eligible for any assistance even though they have not been immune from the struggle yet have proven to be better managers of their money?

We still need to push interest rates down further to help get capital flowing again. Overall, I think there was more to report on the "bright side" with respect to the real estate portion of the stimulus bill...As always, I welcome your comments.

By the way, it's 80 degrees in Naples Florida today and the sun is shining gloriously! Now that's what I call stimulus! (and The Bright Side!)

Good news Bad news

The Naples Daily News continues to do a disservice to the real estate community by reporting news that can only be interpreted by professionals as false and misleading, yet many of the consumers who read the paper are running scared...The paper quoted a Moody's economic report, but failed to take into consideration that by categorizing the entire "Naples-Marco" area as one market, they completely miss the mark. Real Estate is local, but within any local market area there are pockets of other even more local markets...you just cannot give the entire area of Naples and Marco Island one broad stroke of the brush. The areas where we have seen the greatest depreciation in the past 3 years are (generally speaking), not the areas where our "snow birds", Retirees or European friends will buy 2nd homes, vacation homes or new permanent residences. The fact that the bottom dropped out and now Naples is more affordable for working families can certainly be looked upon as bad news for those unfortunate enough to have bought during the peak times. However, you must admit that this is an opportunity for all those buyers who just a few short years ago could not afford Naples...Why do we always have to look on the dark side? I read with sadness many of the comments posted on the Naples Daily News site...Name calling, rude statements, inaccurate math... Let's try to look at the bright side like one of my past customers has chosen to do...They bought a home in a lovely, gated north Naples community in October of 2005. They paid $500,000 for their "dream" home. Every year they came to Naples counting down to the husband's retirement...Today, due to foreclosures and short sales in their neighborhood, their home is worth about $350,000. But, do you know what they say to me when I talk to them, "We love our house. We would not trade the past 3 1/2 years of living in paradise for anything. We made over $200,000 on the home that we sold up north which made this move possible. We know by the time we get ready to sell the prices will come back up again." How is that for reason and understanding? Pretty darn logical! --and in truth, that is the attitude of most of the people that I talk with...So, if you're buying to "flip", now is not the time to buy...but, if you're looking to take advantage of a wonderful opportunity and want to live in and enjoy a new home or condo in Naples Florida, the time is right! People buy when they buy, they sell when they sell...last time I looked no one has a crystal ball. As a real estate professional I do the best I can with the facts I have to share public records, MLS data and details with my sellers and buyers. I want them to make informed decisions...and ultimately, they do make their own decisions. This time of year it is not unusual for me and my partner, Chip Harris, to work 12 hour days 7 days a week. We are dedicated professionals who hope to hear from you soon and look forward to earning your business. For information about Naples Real Estate and/or any specific neighborhood in Collier County, please call us today 239.370.0574. I'll leave all the negative reporting to the Naples Daily News...I prefer to walk on the sunny side of the street...by the way, it is 80 degrees outside today! That's gotta' be worth something!

Just a thought...

"Ability is what you are capable of doing. Motivation determines what you do. Attitude determines how well you do it." -Lou Holtz

Real Estate Stimulus

At first, I was not a proponent of "stimulus"...I knew the same old "pork" add-ons were a sure bet. I know something's got to be done...but, I'm certain that we don't want to continue making the same mistakes in haste...Housing is the backbone of our economy. Careful consideration of those items which the experts feel would stimulate the slumping housing market are necessary... I don't know if any one item in particular will help get reluctant buyers off the fence, but a combination of several incentives might work. I'm glad that the latest Homebuyer Tax Credit bill was passed by the Senate yesterday. It still has to go through the House and get the president's ok...As it reads, it will double the current tax credit of $7,500. (or 10% of the purchase price of the home, whichever is less). The newest proposal, introduced by Senator Johnny Isakson, a former real estate agent, will cost the federal government about $19 billion as part of President Obama's package. The tax break passed last year was only given to first time home buyers and needed to be repaid...The new tax credit of $15,000 does not have to be repaid--(unless the homebuyer sells the home within two years of closing). Purchases must be made within one year of the legislation's enactment AND it will apply to ALL primary home purchases, not just first time home buyers! Add that to the banks getting a handle on short sales and foreclosures, and the possible government buy down of mortgage interest rates and we might just begin to see the beginning of recovery folks! Regarding the tax credit; Jerry Howard, chief executive of the National Association of Home Builders said, "it will put the floor on the downward spiral" in home prices. National Association of Realtors president, Charles McMillin was quoted as saying, "I'm thrilled. It's almost like we asked for the stars and landed on the moon."

Naples Real Estate Statistics

• Currently there are 10,783 Active Residential listings in Naples per SunshineMLS.

• Presently there are 1006 residential properties under contract, and of those pending, 29% are listed under $300,000. 7.2% are priced at or above $1 million.

• In 2008 51% of the closed sales were listed below $300,000., while an estimated 13% of the 2008 closed residential sales were listed at or above $1 million.

• The number of residential listings that went pending per MLS in January 2008 was 440 total units vs. January 2009: 758. That is a huge single month increase in contract activity!

For more details about today's market, or for an analysis of prices and trends in any specific neighborhood or condominium, please do not hesitate to contact the Harris-Peppe Team today. Call us directly at 239-370-0574 or email me at michele@naplesrealestate.com

Thanks, and make it a great day!

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.