Naples Real Estate Market Update

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

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

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

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

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

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

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

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

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

Come On Down to Naples CityFest!

Several years ago, the brainchild of The Downtown Naples Association, Naples CityFest, became a reality. What began as a celebration for the "locals", who endure the influx of our wonderful snowbirds from approximately October through April, has now become one of the best city festivals of the year! ~And, this event occurs not only in May to kick up our heels at the end of "season", but once again in October...to mark a "season" kick-off, when we are all preparing for the population and traffic to increase in numbers unfathomable if you just happened upon our sweet little town in say, June or July!

For those of us who live here year round, Naples takes on quite a different personality in the off season. Some changes are more subtle than others, but some are distinctly obvious: no long lines at the grocery store, no need to make dinner reservations at the popular restaurants weeks in advance...in addition to that type of thing, the flowering trees in Naples are magnificent this time of year...Purple Jacarandas, Yellow Tabebuia (photo inset-click to enlarge), and Bright red Royal Poinciana trees lining the downtown streets! It's kinda' sad that the snowbirds leave before these trees explode with color, but in a way I count it as a reward for the natives at the end of a long 'winter" after working long hours and catering to our northern friends. Trust me, the spectacle that these trees afford us is indescribable. Come on down to Naples in May or June and you'll be treated to a very special place indeed.

Naples slows down to a pace similar to what I remember drew me here in the first place nearly 33 years ago. The local shoppes have some unbelievable off season sales, golf courses have incredible summer rates...and so, although we couldn't make a living without the annual migration of the snowbird, we do all look forward to getting our city back when they fly home in the Spring. ~Thus, the idea for Naples CityFest. A two week long party to bring locals downtown with events planned daily and nightly! Two full weeks of fun hosted by the downtown retail areas! There's going to be a block party on 5th Avenue South this Friday night. Other activities can be found by clicking on the Naples News link HERE!

The Poll Is Closed!

It's May 1st, and the polls are closed on the NaplesRealEstate.com blog.

60 days ago I posted this question: "How did you find NaplesRealEstate.com?"

The results are in! 70% of the respondents found us by looking in a search engine, 20% read about us in a print media publication, and 10% by personal recommendation.

It pays to be on the 1st page of Google where over a quarter of a million unique visitors a month surf on NaplesRealEstate.com!

Right On Naples Bay!

Get Ready for Breathtaking Sunsets!

This luxurious bay front home is waiting for that special buyer looking for one of the most dramatic views in Naples Florida! Located on an estate-size lot measuring 100' X 175' with desirable western exposure in prestigious Royal Harbor! Boasting over 3,700 square feet of Living Area; this well cared for 3 bedroom +den residence features soaring ceilings, great room plan, custom built-ins, crown mouldings, island kitchen, enormous master bath, outside lanai and patios with a summer kitchen, heated pool and spa, a 600+ square foot covered boat slip, and a bay side deck where you can sit and relax and watch the boats go by...

~Don't just imagine yourself here...this is the lifestyle you deserve!

For photos and a virtual tour, click HERE.

Call today for a private tour of this home: 239.370.0574

Keeping It Green!

Buying a home is probably the biggest investment you will ever make. Many buyers today are interested in a green lifestyle. People want to reduce their "carbon footprint" by taking advantage of the long-term savings that a green home affords. Do you know your "carbon footprint"? I think you'd be surprised to find out what an impact your lifestyle has on our planet. Click HERE to take calculate your carbon footprint.

~Home buyers today are asking a few simple questions...they want to know what green features a home may have. Features including building materials, construction methods, and energy efficient appliances, such as those which are Energy Star rated. They understand green incentives for improvements to heating and cooling systems that save energy and the benefit of having an energy audit from their local electric company. We are all more aware of potential toxins in a home, and many people use special filters now to improve both the air and water quality of their home. Some other green home ideas can be as simple as the flooring you select, such as cork or bamboo, and the non-toxic finishes in the paints you use.

~It might be the single best thing you can do this week, in honor of the 40th Anniversary of Earth Day...calculate your carbon footprint today, and make a choice NOW to Go GREEN!

For information about home green certifications, Star Energy ratings & LEED, please contact a member of the Harris Peppe Team. We would be happy to send you a brochure from The Green Resource Council. Thanks for "keeping it green"!

Real Estate Market Trends

Here's a LINK to the current market trends in Southwest Florida. The data includes Naples, Bonita Springs and Estero. All information is derived from the SunshineMLS. Statistics have been tracked for these graphs going back to the 1st of January 2009 through the end of March 2010. I thought it was interesting to note that the list to sale ratio has been pretty consistent, around 90%, across the board.

For a more detailed report of a specific neighborhood or area, please call The Harris-Peppe team at 239.370.0574. Thank you, and make it a great day!

Photos of Paradise

Here's a link to some beautiful photos of Naples, Florida! If you have any photos of Naples that you would like to share, please send them to me in a jpg file, and we will feature them on our site! Michele@NaplesRealEstate.com CLICK HERE Thank you, and have a great weekend!

Questions About the Home Buyers Tax Credit

Here is an article that was published yesterday by RISMEDIA which answers the 'Top 4 Questions Home Buyers have about the Tax Credit'. Click HERE for link. For additional information, the Federal Housing Tax Credit Website can be accessed by clicking here HERE. As always, thank you for stopping by and taking the time to read our Naples Real Estate blog. We hope you will call us when you are ready to list or sell in Naples Florida. 239-370-0574

Naples is the Place to Be!

One of my co-workers just forwarded me an article that appeared in the New York Times over the weekend that I wanted to share! You don't just have to take my word for it...I've known for a long time that Naples is paradise...so, Here's what the Times had to say about our beautiful little city!

Read it HERE!

Florida Leads Big-Boat Market Rebound!

As recently reported in Soundings Trade Only magazine, there's a rebound happening in the boating industry and Florida, particularly Southwest Florida, is taking the lead! The first few months of last year saw very low sales volumes, but by mid-year big-boat brokers saw sales that surpassed the monthly units for all of 2008. By the last quarter of 2009 Florida brokers led the big-boat sales, which "bred guarded optimism about 2010." This optimism hasn't been so guarded in Naples as there was a record turnout in attendance at the recent Naples Boat Show, and many left as new boat owners! "In a good year we sell maybe one or two boats and plant a few seeds" reported Pete Kostuk, yacht broker with Galati Yacht Sales here in Naples. "This year we sold all four display boats in the first two days which included two buyers we'd never met before." He added, "Boaters may not be going as far or as fast, but they're still buying boats"! *pictured are some of our favorite passengers onboard Ithaka!

Older inventory, which brought sales down the past couple of years, is being absorbed and dealers are now introducing new models. Values on trade-ins are also becoming more acceptable as folks in the market to either 'buy up' or 'trade down' are taking advantage of the new inventory. Everyone agrees that it's a good time to buy a boat in Naples Florida, just as it is a great time to buy a waterfront home! Call us today for a list of all the waterfront best buys! 239-370-0574

Thanks and happy boating!

Happy St. Patrick's Day!

Happy St. Patrick's Day from me and Chip.

~In honor of the occasion I thought I would post one of my favorite Irish blessings, and appropriately, it is a

Home Blessing!

May these walls be filled with laughter,

may it reach from floor to rafter.

May the roof keep out the rain,

may sunshine warm each windowpane.

May the door be open wide

to let the good Lord's love inside.

There are wonderful activities already underway here on Fifth Avenue South in beautiful Naples Florida...there's a line up at Paddy Murphy's, and at McCabe's Irish Pub as well. The entire street is brimming with folks decked out in green...and there's just the right amount of sunshine popping through the clouds after an afternoon of showers to make a rainbow fairly certain!

Real Estate Predictions

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

Location, Condition, Price, Marketing

Location, condition, price, marketing...these are the four items that determine how quickly a home will sell. A seller controls 3 of the 4! Take these two cases as an example:

1. A home in really poor condition, in an inferior location, will still sell if it is marketed properly and priced well.
2. If your home is in good condition, in a nice location, and if it is marketed correctly, but is still not selling: then the only factor that needs to be addressed is price.

Today's buyers are smart. They examine every detail before making an offer on a property, including the listing's history. How many price reductions, and how long a home has been listed weighs heavily on how close to the asking price an initial offer will come in...Pricing is crucial right from the start! Homeowners that stick to a price in the hopes of having more "room to negotiate" are eventually going to cut their price or follow the market down...and they usually end up negotiating a lower contract price than if the home was priced right to begin with.

In addition to all the other items that we are dealing with today, we also need to factor in the foreclosures and short sales that are dramatically effecting prices. Experts suggest, 'put your home on the market at the right price, and if it doesn't sell in the first 30 days, cut the price so you won't be caught in a downward spiral of price reductions'. Testing the market just isn't a good strategy anymore.

Well priced listings are selling in Naples Florida! Call us today for a list of our best buys! 239-370-0574

Writer's Block?

The most successful blogs are those which are written consistently. Regular, interesting entries...thought provoking posts...informative, catchy, entertaining...I read blogs often. I subscribe to several. I know a few bloggers that I believe should actually write books...they are really great writers. Their use of whirling words paint pictures in my head...I am mesmerized by their ability to describe simple things like planting an herb garden or cooking a souffle or shopping with a child with such imagery that I look forward to each and every one of their posts. ~I also enjoy 'professional' blogs about politics, music, movies, real estate & business...but not as much!

Lately I've had a bit of writer's block...The truth is, I can think of dozens of things to write about every single day...but I have been a little preoccupied with...well, with...selling and listing real estate! I have all good intentions, but frankly, by the end of the day I am pretty much beat and can't wait to just call it a day....Writing my real estate blog has dropped down on the list of priorities these past few weeks. Now that the intense influx of snowbirds has leveled out, and I am getting myself back into a schedule of sorts (yeah, right!), I am hoping to blog more regularly. Many thanks to my loyal fans who have gone so far as to pick up the phone and call me: "Where are you?...Is everything ok?" Yes, I am fine...It's just that it's season, and no matter how many years I have been doing this (29 years the end of this month~Whew!), I never seem to manage to pace myself...I am very happy that day light savings time is coming early this year (remember, Saturday, March 13th...spring ahead). I am looking forward to maybe getting home before dark...ah, wouldn't that be nice?

So, it may not really be 'writer's block' after all, but just a case of 'Busy Real Estate Agent-Wife-Mom-Mimi-Daughter-Volunteer-Artist'...not necessarily in that order. Stay tuned for tomorrow's post...I cannot guarantee whirling words, but I at least feel consistent coming on!

A Welcome Addition!

Welcome Suzanne Novita!

I think everyone here at the Coldwell Banker Previews office in Naples was thrilled this morning at our weekly sales meeting to be introduced to the newest member of the Fifth Avenue team, Suzanne Novita! Suzanne comes to us from the Coldwell Banker office in Delray Beach. She recently relocated to Naples so that she and her husband could be closer to family. Her primary duties will be real estate leasing and property management. She was highly recommended by her broker at Coldwell Banker on the east coast of Florida. Suzanne has strong organizational, technical and interpersonal skills. Her background and credentials are stellar, and I know she will be a great asset to our office. Welcome aboard Suzanne! The Harris-Peppe Team and the entire sales team and support staff are so happy to have you here in Naples. Best of Luck!

It's all about the friends we make along the way...

Tonight Chip and I are having two of my friends from New Jersey over for dinner with their spouses. We sold each of them a home here in Naples and it is a wonderful treat for me to have the afternoon free to prepare a loving meal for them...We get so busy this time of year, it isn't often that I get to enjoy my kitchen (except for mac & cheese for the grand babies) and even less often that we get to entertain friends from "home" in our home. Watch out Naples, there will be a little bit of "jersey" spoken at the Harris Peppe house tonight!

~While grocery shopping today I ran into another customer turned friend (instead of a friend turned customer) at Fresh Market...She said, "It's nice to see you doing normal things Michele." I thought that was funny...Then the day before yesterday I ran into Marshall's to exchange a birthday gift and bumped into two other customers who are now friends...It's true, most of the important relationships that I have made over the years happened because of the real estate business...best friends, God-children, hmmmm...a wonderful husband! So, no matter what anyone tries to teach you about business, not just the real estate business, but ALL businesses...remember this: It is all about relationships...and the friends we make along the way!

~Have a nice evening everyone...I know I will.

Social Networking and Today's Real Estate Agent

If you think social networking is just a passing fad, think again...to all of you real estate agents out there still doing business the old-fashioned way, please take a few minutes to watch this VIDEO ...In fact, anyone in any business should take 4 minutes to watch this video! To those of you who have embraced social networking, more power to you! It is the future, whether we like it or not...

~

You say you don't have the time for social blogging? Well then, you need to figure out a way to find the time. This is not an easy transition: I've been blogging for nearly 3 years, and especially at this busy time of year it is tough to set aside the time necessary to create interesting posts. I go days between tweets and youtube downloads...I created a MySpace page over a year ago and never went back...I created three profiles on LinkedIn; one for me, one for Chip and one for the team...boy, that was overkill...now I'll be googling "ways to delete a LinkedIn and MySpace account"! LOL! I even Skype customers whenever possible rather than talking to them on the telephone! Oh yes, phones, well that's a whole other story...the Blackberry vs. the iphone debate continues...I'm due for a phone upgrade on the 12th and any feedback you can share will be greatly appreciated! One thing I would like to interject is: PLEASE stop texting while you're driving people!

~

In closing, I'd recommend that you pick and choose your social networks wisely...Talk to others who blog and tweet and get some tips...attend webinars on the subject every chance you get...it is amazing the amount of information there is out there...Lastly, but certainly not the least...This [real estate] is still and always will be a people business. Don't get so lost and caught up in technology that you forget to interact with your customers on a personal level...One of the classes I took taught me that for every 10 posts on Facebook, 9 should be non-business related...After all is said and done, people really don't care how much you know until they know how much you care.

~

Till next time, remember, the sun is shining today in Naples Florida and we have some very pretty condos on the beach to sell...so call me! ...after you watch the video!

A Beautiful Sunset in Naples Florida

This is an un-retouched photograph of a beautiful sunset taken last night at The Moorings Private Beach in Naples Florida! You just gotta' love winter in paradise!

*click on photo for enlargement

Thank You!

Today's blood drive was a HUGE success!

I would like to personally thank the Naples Community Hospital Blood Center and Bloodmobile, the Downtown Naples Association, the donors from Merrill Lynch on 5th Avenue South, my fabulous friends who responded to my pleas and all the wonderful agents and staff here at Coldwell Banker Previews office that gave the gift of life today. We had a very successful drive which resulted in enough blood donated today to potentially save 72 lives!

~It is good, when at the end of the day, a person can look at themselves in the mirror and know that they made a difference in the world by taking the time to donate blood. A simple and safe procedure that only 3% of the 68% of qualified donors actually participate. My heart is overflowing with gratitude to those who took the time out of their busy schedules. Giving back to the community we serve is more than just good business...The quality of life in Naples depends on the generous support of those who live and work here. Donating blood takes less than 30 minutes and doesn't cost anything more than your time. Thank you so much!

All Our Listings Are On Youtube!

We have been busy getting some fabulous new listings in our inventory here in beautiful Naples Florida! Prices, selection, mortgage rates and the weather have never been better! Call us today to preview some of these wonderful homes.

239.370.0574

~and, Please check out the virtual tours and videos on YOUTUBE!

Thank you...have a great weekend!

Goal Planning

Everyone who knows me knows that I am a huge goal planner....whether it is personal, family or business goals...whether it be a daily, monthly, annual or long term goals; I write a comprehensive business plan each and every year that includes systems and strategies for accomplishing these goals. So, the fact that I went to a Goal Planning seminar at the Board of Realtors today may baffle those who know I have taught Business Planning and Time Management classes for years...First of all, I firmly believe that sharpening the blade is necessary in order to stay honed in this ever changing real estate industry--Sometimes that means attending 'Real Estate 101' classes, better known as getting 'back to the basics', to see what is right there in front of you that you might be overlooking in your daily activities. Secondly, I have never been to a seminar in my life that I have not walked away with at least one new good idea. Today was no different. From this day forward I am going to carry with me, in my wallet, a list of 3 things in each of the previously mentioned categories: personal, family and business; as my one year goals...put in writing each year in January and carried in my wallet so that each and every time I open my wallet I will be affirming my abundance while being conscious of these goals. Lastly, I attended today's seminar because it was hosted by a dear friend, and former manager, Patti Brotherton from California! It was a mini reunion, as seven of her former agents from the mid-90's were there in attendance cheering her on and sharing accolades of our former broker with the group...we were able to attest to all her recomendations and ideas becasue each of us had already 'been there and done that'! So, let me suggest you all do the same thing...You don't need to be in real estate to practice this activity. Right now, think of 3 things you want to accomplish by the end of 2010 in each category and write it down...now put it into your wallet! From left to right: Audry, Lee, Jeri, Patrick, Patti, Doug, Judy, Lauren and me! Thank you Patti from all of us

for being here to share your energy with the group in Naples today!

They're Baaaack!

I haven't been blogging, there's no time to tweet...and all my facebook friends are wondering where I am...I think I lost my space on myspace...forget about youtube...no time for tunes and videos...and lately I'm more "linked-out" than LinkedIn...

YES, 'season' is in full swing, and our wonderful snowbirds are back looking for homes in paradise! The Harris Peppe Team is busy! Have you seen our featured home of the week yet? Check it out at www.NaplesRealEstate.com and please call us if you or someone you know is interested in having us show you around our beautiful little town! 239.370.0574

Ah, life is good in Naples!

Good Time to Buy a Home

Now is the best time to buy a home! Hear Jim Gillespie, the CEO of Coldwell Banker on Fox News yesterday! This was a very good interview. Does anyone else out there remember 20% interest rates back in the early 80's? I can't believe I've been doing this for so long. Good Time to Buy a Home

Naples Best Waterfront Opportunity

OPEN SUNDAY January 10th, 2010 from 1-4 PM

1150 Sandpiper Street

Beautifully remodeled direct gulf access single family home located in the nautical neighborhood of Oyster Bay. Updating includes new granite & stainless kitchen, luxurious baths, marble flooring and a new dock with lift. Picture perfect decor...a real pleasure to show in every way! A stone's throw by boat to Naples Bay; and just a short walk to Bayfront's restaurants, the Naples Bay Resort, and all the wonderful downtown amenities. Situated on an elevated lot with western exposure and surrounded by lush landscaping and swaying palms. To top it all off, the below ground pool adds to the fun of this fabulous residence which epitomizes true Florida living at its best! Aggressively priced at $749,000 to encourage offers. Call the Harris Peppe Team today for a private showing. 239.370.0574 or come by our open house on Sunday! Hope to see you there!

Happy 2010 from The Harris Peppe Team

Happy New Year from The Harris Peppe Team! There are a lot of wonderful things going on around here that we'd like to share. First off, today marked the first Business Meeting of the year here at the Coldwell Banker Fifth Avenue Previews office in downtown Naples, and the first meeting presided over by our new broker, Joni Albert. She did a great job and everyone is pleased and excited to have her leadership take us into the next decade here at the Previews office. Joni has been licensed in real estate sales since 1984, and has been a manager at a competitor's office in Naples for 10 years. She came to Naples from Upstate New York. She is very active in the local Board of Realtors and the Naples On The Gulf Chapter of The Women's Council of Realtors. Joni has had numerous professional awards, but most notably she was honored as The Greater Capital Association of Realtors-Realtor of the Year in 2000. After reviewing what's happening in our local market, it is my opinion that we are in for one of the busiest seasons we've seen in four years. Our phones are ringing, our listings are being shown, and we are taking some fabulous new listings! Several factors indicate that Naples Florida home prices are at or near the bottom. That is not to say that every community has hit the bottom. Keep in mind, not only is real estate "local", but also within a town like Naples, each neighborhood has its own personality and market conditions. Those things which I think are impacting our local market are: Inventory, Interest Rates and Pent Up Demand. Inventory is down! Current Inventory is 7,946 Active Residential Listings per the Naples MLS system, SunshineMLS. That is more than a 40% decrease in inventory! Wow! There were 7,040 closed sales in 2009 as compared to 4,651 total closed sales in 2008. Nearly 70% of the 2009 closed sales were listings priced below $300,000. Obviously, this remains our most popular price point. Only 6% of last years closed sales were listings priced over $1 million. Interest Rates are Still Low! Although banks are much stricter with lending, mortgage rates remain low. Today's rates are just slightly over 5% fixed for 30 years, and jumbo loans are around 6%. Our loan department here at Coldwell Banker is one of the few lenders making 20% down loans available to qualified purchasers of 2nd home condominiums. I invite you to call Kelly Rebimbas at Sunbelt Lending if you have any questions. Her direct number is 1.239.273.5239. More credit defaults are predicted, and this too will effect values. In addition, predictions are being made that rates will be going up in the spring. This should also motivate buyers to make decisions now. Sales Activity is Up! The Naples market is driven by 2nd home buyers and Naples remains a very attractive place for snowbirds to spend the winter. (although this week our temperatures have barely gotten out of the 50's). Some homes are selling in price levels I haven't seen since the last decade! Buyers are looking for values and finding them. In the next 10 years over 35 million baby boomers will be turning 60 in this country. That is a huge source of buyers who could potentially be relocating to Southwest Florida. In addition our European and Canadian friends are also making a come-back.

Lots of good news! Don't you agree? Wishing you all a happy, healthy and prosperous 2010.

We look forward to working with you!