Naples Real Estate Listing of the Week

Architectural Masterpiece

Located in the prestigious neighborhood of Terracina, and within the gated golf course community of The Vineyards, this Naples residence features a main home boasting 3 spacious bedrooms plus a study with custom built-ins, and two detached & separate guest quarters with private baths which are ideal for visiting friends or family, adult children, in-law suites or live-in au pair. The king-sized lot offers the ultimate in privacy, amazing trees and vegetation, and the pool & spa and outside kitchen & entertainment area is perfect for enjoying the tropical Florida lifestyle. Nearly 3500 sf of living area surround the huge covered lanai with brick pavers. The home also features a 3 car side entry garage, a 180 bottle wine cellar and a gourmet granite kitchen with gas stove. Please call The Harris Peppe Team today for additional information about this week's featured property. 239.370.0574

Thank you and make it a great day!

The Naples Real Estate Blogger

153 Days Till Christmas!

Christmas I say...Seriously, you think I'm kidding? I was in several stores this week, had I not known it is still July, I would have guessed it was Thanksgiving weekend! The craft stores actually have some of their Christmas displays out. ~To me, August always makes me feel like autumn is in the air...fall is a month away, the Allstar game is over, the kids go back to school, folks are calling to confirm their 2013 reservations...And we, The Harris Peppe Team, begin to plan the last quarter's marketing strategies. We are closer to next season than to last season; when I look up at the 'Year-at a-Glance' calendar on the wall in our office, there's more on the top half than the bottom half..."Where has this year gone? 

I have not been as diligent this year as in year's past with my blog posts...It takes 28 days to create or break a habit...I was so busy during season actually listing and selling homes that blogging took a backseat, and now I need to get back into the swing of it again. My goal is to begin posting 3 times a week throughout the rest of the year. There are a lot of things happening in the Naples Real Estate market to report and share...just a matter of getting myself back into the habit!

If you have any questions, discussions or suggestions regarding what kind of posts you are looking for, please just shoot me a quick email. I am always open to new ideas!  Michele@NaplesRealEstate.com

In the meantime, Let's just enjoy today and never mind the retailers trying to push the pumpkins so early in the year...

Thank you for reading! I hope to hear from you soon!

The Naples Real Estate Blogger

Summer Fun Activities in Naples Florida

The Perfect Solution~ Our Summer Vacation Non-Destination!

This photo was taken at the southern tip of Key Island

Chip and I are having a "stay-cation" this summer. Usually we take advantage of the slower summer months and do a little traveling; either by boat or up to our cabin in North Carolina. This year we have friends staying at the cabin in July and August, and while trying to decide where we might go this year, I came up with the idea of taking a "stay-cation"! After all, there is so much to do in Naples during the summertime. "Let's just stay home and enjoy our own backyard!" During season it is not usual for me to start my day on the computer at 6 AM, and more days than not I drive home from the office after dark...sometimes 8 or 9 o'clock. So, it didn't take me long to get rid of the initial guilt of 'working' from home last week! There is something to be said for doing all my correspondences while throwing in a load of laundry, preparing a nice dinner, and taking a break through-out the day to paint or read. In addition to the change of pace, the number of things going on in Naples this time of year has given us a wonderful selection of fun things to do! 

One night we met a few of our kids and grandkids at the beach for pizza and sunset! "Why don't we do this more often?" we kept asking ourselves! ~Yesterday after church Chip said, "Come on, I'm taking you to breakfast!"--That is something only reserved for vacations, so what a treat that was! 

Last Friday night we walked up and down Fifth Avenue South and just 'people-watched', held hands and enjoyed each other's company before heading over to one of our favorite restaurants for a Summer Special...Another perk of being here over the summer months is we get to enjoy all the great summer specials at the area restaurants without the long wait to get seated! Everything can be done spontaneously! How fun is that? Very!  

I broke my paints out last week, and it was a great feeling to NOT put them away when I was done...which means I am not done! I am planning to paint all summer-- Speaking of painting, the summer art scene in Naples is incredible! There are 15 exhibit halls at The Jay & Patty Baker Naples Museum of Art...and The von Liebig Center downtown is a wonderful place to spend an afternoon. Peruse the many galleries on Fifth Avenue and Third Street...it could take weeks! Another hidden treasure at the working studios and galleries in The Pine Ridge Industrial Center, home of The North Naples Art Alliance...my personal favorite is the Sweet Art Gallery!  Such a great gallery! Please check it out--and Tell Dede Sweet [her real name] Michele sent you! 

I'm thinking I might head over to The Naples Zoo on the first Saturday of the month [residents get in free]...I will either take my camera and see what kind of shots i can get...Or maybe take a few grandbabies, ride the boat over to Monkey Island, and act like a kid myself! I am also planning a trip out to The Corkscrew Bird Sanctuary where i am hoping to catch a glimpse of the rare and magnificent Ghost Orchid. 

All my Naples grandbabies have memberships to the newest attraction in Naples, The C'Mon  Children's Museum! I can't get in without them, so that sounds like another aweome way to spend the day with the little ones!

I haven't mentioned The Beach Club Hotels Summer Jazz series... bring your beach chairs and enjoy the beauty of Watkins Lawn while listening to the jazz beats of local groups while sipping a tropical drink all the time smelling the salt air and watching the sun go down! Does it get any better than this?

Outdoor screenings of movies take place at Cambier Park as well as the Mercado, The Evening On Fifth continues through the summer months on the 2nd Thursday of each month...and then there is Thursday On Third, too! I am even going to take a trolley ride around town on Dolly The Trolley! Am I going to be bored this summer? No way! How blessed we are to live in such a fabulous town!

Last but not least, summer is a very good time to look at local  real estate! Chip and I took a 'bus man's holiday' on Saturday and previewed waterfront property around town! We were impressed with all the great buys still out there! Next week we will do the same thing and spend a day looking at different new communities, golfing communities, Old Naples listings, as well as beach front offerings. Even when we are on vacation in other cities we look at real estate, so why not do it while we are 'stay-cationing'! Right?

Well, I sure hope you are having an enjoyable summer where ever you are. If you'd like any information about what is happening in the Naples Real Estate market, please give us a call. 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

   

Independence Day

Happy 4th of July!

There sure are a lot of fun things to do in Naples Florida to celebrate Independence Day! The area fireworks displays are not the only way to show your national pride either...Why not come on down to the city's traditional parade which kicks off at 10 AM. The parade route begins on Broad Avenue South and treks down Third Street and Fifth Avenue South! There are 100s of participants including floats, music and various give-aways! It is such a wonderful feeling to see all the red, white and blue line the downtown streets while everyone comes together, regardless of their political persuasion to celebrate America! The shoppes on Fifth Avenue will be holding sidewalk sales from noon to 2 PM. If you are anywhere near the Coldwell Banker office, please stop by and say hello!     

The fireworks begin at 9 PM and they are set off the Naples Pier. Many boaters decide to watch the display from the water, which I must say is quite spectacular. If you don't have your own boat, or a friend with a boat, one suggestion might be to view the fireworks from the M/V Double Sunshine, docked at Tin City. $60 buys you a beverage, a treat and hors d'oeuvre's...Plus, of course, the firework show...Call 239.263.4949. ~If you head down to the beach to watch the show, get there early, and don't be in a hurry to leave, as it can get pretty congested. Bring a blanket, a cooler, and maybe even some sparklers! ~Another interesting suggestion for history buffs takes place at 10 AM on July 4th at The Estero Community Park, where the Historical Society hosts its annual reading of The Declaration of Independence.

Whatever you decide to do, whether it be to watch a parade, enjoy the fireworks or simply a back yard BBQ with friends and family, please be safe.  

Happy Birthday America from all of us at The Harris Peppe Team!

Thank you,

The Naples Real Estate Blogger

Top 10 Turnaround Towns

Naples Florida Makes the Top 10 List!

Wow! 8 of the 10 turnaround towns that made the CNBC.com list are in Florida, and Naples made its first ever appearance! Check out more of the story by clicking HERE! Data derived from Realtor.com, the official site of The National Association of Realtors, showed clearly that many of those cities that once led the downturn in the real estate markets nationwide, are now leading the way to a turnaround! The list weighs a comparison from the last quarter of 2010 to the last quarter of 2011 and tabulates which towns have shown the most dramatic improvements based on a number of statistics. Naples Florida ranked #7, Miami was ranked #1! The only 2 towns NOT in Florida [are] Boise Idaho and Phoenix Arizona. One of the most striking statistics about Naples that CNBC documented was the fact that the "year-over-year" inventory was down a remarkable 35.94%! To answer the cynics who believe there may still be a shadow inventory lurking out there that will curtail the current trend upward  I say, "based on the current actives, pendings and closed sales, the demand will quickly absorb this possible inventory." 

There has never been a better time to invest in Naples Real Estate than NOW! Purchasing a home or condo, whether it is as a primary residence, a 2nd home, or as an investment, at today's low interest rates, is the best place that you can put your money right now!

For information about the local Naples real estate market, or specific neighborhoods in Southwest Florida, please call a member of The Harris Peppe Team today!  239.370.0574

Thank you and make it a great day,

The Naples Real Estate Blogger

Naples Real Estate Update

May 2011 vs. May 2012

Well, here it is, the 1st of another month. Time flies when you're having fun! May has been a very good month all the way around. We took a few well priced, saleable new listings...we showed homes to some fabulous customers and wrote a few offers...negotiated a few sales...and managed a few days off, including presently being on our boat, bringing her home from the east coast of Florida via the keys.

I thought you would like a Naples Real Estate Update, so I did some general research and compared [this] May to May 2011. Here's what I came up with:

Closed Sales Comparison:

• In May of 2011 there were a total of 911 residential closings in Naples vs. 1,043 in May 2012. That's a nice solid increase considering listing inventory is way down.
• May 2011 approximately 14% of the closings were listed as short sales vs. 12% in May 2012.
• 43% of the closed residential sales in May 2011 were single family homes as opposed to condos and villas vs. 44.5% in May 2012. It is pretty typical that condo sales out number single family home sales, but that they usually run a little closer to 50/50...could be the diminished sfh inventory. 
• 64% of the closed sales in Naples in May 2011 were listed at or below $300,000 vs. 61% in May 2012.
• A little over 10% of the closings in May 2011 were listed at or above $1 million vs. 12.3% in May 2012. Luxury Real Estate Sales are up in Naples!
• The majority of the residential sold financing types, approximately 70% both years, continues to be Cash transactions.

Current Listing Inventory Statistics:

• Currently Naples has 5,346 active residential listings [single family homes as well as all condos and villas]. 
• Of the 5,346 listings, there are only 346 short sales, less than 7% of our inventory. 
• 40.3% of the current inventory is single family homes. 
• 42% of the current inventory is listed below $300,000. Compare that to the 61% of last month's closing being in this price range and it becomes very evident how diminished the inventory is in this price range.
• 17% of the current inventory are homes and condos for sale priced at or above $1 million. That also is just over a one year supply! A one year supply in any neighborhood or price point is a healthy market.

That's just a brief overview of today's Naples Real Estate Market. Please call a member of The Harris Peppe Team today to assist you with any questions you may have about our local market, or to assist you with any of your real estate goals and objectives.      

Thank you, and make it a great day,

The Naples Real Estate Blogger

*all data derived from the Naples multiple listing system: SunshineMLS and is deemed reliable but not guarenteed.



A Moment of Silence

"Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe, to assure the survival and success of liberty."    ~John F. Kennedy

On this Memorial Day weekend, The Harris Peppe Team would like to invite you to join us as we honor the men and women who have given their lives so selflessly over many generations to allow us to live in a country committed to freedom.

It is our deepest prayer that we live a life that is worthy of this sacrifice.

During this weekend, where so many people begin their summer celebrations with a picnic, a family reunion or a backyard barbecue, I can only hope that you will take a moment of silence to honor those who have given their lives so that you can live a life pursuing happiness and free choices. We also wish to send out a special prayer of gratitude to all those who have ever served, and all those who still stand guard today. Wherever you are in the world, please come home soon, safe and sound.

Thank you, and God Bless America,

The Naples Real Estate Blogger

 

Naples Real Estate Update

Once again we had the distinct honor of having Cindy Carroll, Florida State Certified Residential Real Estate Appraiser, as a guest speaker at the Coldwell Banker monthly business meeting at The Naples Area Board of Realtors. Cindy came chock-full of good information and reliable market statistics. I would like to share some of the highlights of her talk, much of which is based on data derived from our local multiple listing system, and is a reflection of supply and demand.

One of the interesting points that Cindy made was to identify the 4 tiers of sellers in today's market:

1. Short Sales
2. Foreclosures
3. Investor "flippers"
4. Traditional transactions

It is relatively easy to extract whether a neighborhood is "in-balance" based on supply and demand. If the number of listings is equal to the number of sales in the last 12 months, it is a "balanced" market. In some cases, which I will discuss in this post, the absorption rate is less than a year. Any areas or price ranges, carrying 2 or more years of supply, are still experiencing downward pressure on pricing.

Another interesting point to consider is this: In Naples, approximately 60% of the closed sales are cash transactions. Cash buyers, especially with today's strict financing guidelines, allow our market to "move along". 

Here are a few neighborhood observations:

• Aqualane Shores: was at the "top of the market" in February of 2005 with less than a 4 month supply of houses on the market. In April of 2007 there was a 3.5 year supply. Currently there is approximately an 18 month supply, which has been virtually unchanged in about 2 years. Presently 37 "actives", 5 homes under contract [pending], and 21 closed sales in the past 12 months.
•  NA 06 [Old Naples]:  Presently there is only a 10 month supply of single family homes for sale in Old Naples. This area peaked in February of 2005 with a 5 month supply. In December of 2008 there was a 3.2 year supply. There was a "balance" market reported for the first time in approximately 4 years in September 2011.      
• NA15, the area between US 41 and Goodlette Road, is "on fire"! Currently there are only 26 active listings...27 "pendings" and 92 closed sales in the past 12 months!
• NA 05 [Coquina Sands, The Moorings and Park Shore]: In September 2005 there was a 6 month supply...In September of 2007 there was a 4 year supply! Today's inventory is only a 7 month supply! Great recovery!
• Pelican Bay is one of the least variable neighborhoods. It never really got "over-supplied", and never had the short sales and foreclosure numbers of other communities. In September of 2009 there was a 2.5 year supply, but the market has been balanced for awhile and presently there are 34 active single family homes, 13 under contract and 31 closings in the past 12 months.
• Royal Harbor has one of the best stories in town! Just to give you a history of the area, in September of 2004 there was only a 3 month supply...In April of 2007 there was a 9.6 year absorption rate...As Cindy put it, "it was dreadful!" By November 2010 the Royal Harbor area had improved to a a 3 year supply, which still wasn't great. Presently there are only 25 homes for sale, 16 pendings and 29 closed sales in the last 12 months. This equates to approximately a 10 month supply...a remarkable comeback!
• Vanderbilt Beach area: A year ago had a 2+ year supply of inventory, presently only an 8 month supply.
• Golden Gate Estates: NA 22, the Logan Woods and Oaks Blvd corridor, has been "artificially depressed" due to land values and the inability to finance vacant lots, but the single family home market presented itself with a shortage of inventory by November 2010, and today there is a very healthy 9 month supply!
• The Grey Oaks single family market is "a bit of a mystery"...In September of 2005 there was less than a 6 month supply. In October of 2011 there was nearly a 4 year supply. Currently there are 43 actives and only 14 closed sales in the past 12 months. 

The meeting ended on a high note. Predictions were made: Many neighborhoods will be back to our "last point of sanity", 2004 prices, by year's end. ~And, it is probable that values will go up 10% in the next 12 months! In any event, whether you are inclined to be optimistic or not, the facts speak volumes. Inventory is down in most neighborhoods, demand is great, interest rates are at record lows...The short sales and foreclosures are "clearing out". It's a great time to buy Naples Real Estate! Of course, as with any data, each isolated neighborhood, and types of housing in each area, should be evaluated on its own.  The Harris Peppe Team welcomes your comments and questions. Please call us if you would like additional information in a particular location in Naples. 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

It's Almost May Day!

Anyone who has ever gone away on vacation can attest to the "Law of Murphy" which states something along the line of ..."just book a vacation then see how busy you get a few days before leaving"...Imagine if we all worked at that level of production all the time, think of how much we would all get accomplished! That is exactly how I feel I've been working lately...like there's some kind of crazy feeding frenzy going on!

All of a sudden today I realized, 'it's the last day of the month'! Where the heck did April go? [picture above is an old etching depicting 'May Day'] In the years since beginning this blog, this has been the busiest month I can recall! I've had good intentions of doing a real estate update often, but I've been out nearly every day all month showing properties to various buyers. Condos and homes...in all locations and price ranges...I haven't stopped...and "the hurrieder I go, the behinder I get"   ~I keep seeing signs of  my time becoming more manageable then Bam! I'm off again showing homes! [Nice problem to have!]

The real problem is a shortage of inventory...Seriously...There are 8 homes for sale in Old Naples priced below $1 million! There are a total of 34 homes for sale in the the Royal Harbor Area and only 13 listed below $1 million. There are 9 condos presently for sale priced under $500,000 in highrises along Gulf Shore Blvd North...also in The Moorings and Park Shore neighborhoods only 12 total single family homes listed below $750,000. TWELVE! That's it! ~ Naples Luxury Properties, those Previews listings priced at $1 million or above, comprise an estimated 18% of the total inventory in our multiple listing system.  There are approximately 100 homes for sale located in gated communities in Naples priced below $300,000...Considering a condo with at least a 1 car garage in a neighborhood with a community pool priced below $200,000? There are less than 250 to choose from in all of Naples! There are only 35 condos for sale in Old Naples priced below $300,000...and to get a garage space and a community pool you need to spend nearly $500,000! Presently, I am working with a buyer that is looking for a newer or updated home, in a community with low fees, a tile roof and a private pool and I couldn't find anything under $300,000!  My humble opinion: If you've got a listing that has lingered on the market all season and hasn't sold, then maybe your expectations are too high...those listings which are well priced ARE selling! I can't tell you how many times in the last 30 days that I have made an appointment to show a property and gotten a call back that it 'just had an offer accepted!'  I keep telling the customers, 'if you see something you like, make an offer before someone else does'; -especially in the more moderate price points! In any given community, those homes and condos listed at 'entry level pricing' will be the next to go. This has become a bit of a challenge for homes and condos that need to appraise--the values cannot keep up with the lack of supply and the demand, and appraisers can only use closed sale data. Hopefully, this will not be an obstacle for long as the low end continues to have a 'trickle up' effect on prices. Naples over-corrected, and we are now seeing prices level off and in many cases beginning to go back up!

  

Our Internet inquiries are off the charts, too! We are tracking where most of the requests are coming from...Next to the USA, Canada ranks #2 on NaplesRealEstate.com. Many inquiries are still coming from the UK and South America, and we got our first buyer from Russia this month! Thank goodness we've hired 2 more agents to help The Harris Peppe Team with this influx of Internet inquiries!  

Well, summer is coming and we are beginning to think we might vacation right here in Naples this year! As long as we can stay ahead of the curve, and schedule the time to enjoy this beautiful paradise, we are thinking it might just be the perfect oppotunity to see what is happening in our own backyard...

For information about the Naples Real Estate market, please contact a member of The Harris Peppe Team! Thank you, and make it a great day!

The Naples Real Estate Blogger

A View From The Top

2012 Economic Summit

The New Future, A View from the Top

The Naples Area Board of Realtors presented The 2012 Economic Summit last Friday April 13th. The keynote speakers included Lawrence Yun, Chief Economist and Senior Vice President of Research for the National Association of Realtors; John Tucillo, Chief Economist of the Florida Association of Realtors and head of the Industry Data and Analysis Department; Shelton Weeks, Department Chair of Economics & Finance and Lucas Professor of Real Estate Development at Florida Gulf Coast University; Doug Duncan, Vice President and Chief Economist of Fannie Mae and former Senior Vice President of the Mortgage Bankers Association; and Cindy Carroll, Vice President and Manager of the residential division for Carroll & Carroll Real Estate Appraisers and Consultants in Naples Florida. It was great to have such an outstanding program and exceptional panel to share information which is both pertinent and optimistic. Each speaker hit on several highlights which I would like to bullet point here:

Lawrence Yun~ The National Economy:

• Florida is the 3rd fastest job creating state in the Nation.
• 90% of 'stated' income loans are in default.
• Only 20% of the new homes in the USA are built by large builders such as Lennar or Stock Development. 80% of newly constructed homes are built by small builders who average 5-10 homes per year and they are having difficulty getting financing. Currently new housing starts in America are at a 50 year low.
• Boosting real estate activity boosts the overall economy. Real Estate sales is the most pro-consumer industry in America.
• There has been a record # of sales in both the Las Vegas and Miami markets [two of the hardest hit areas] in the 1st quarter of 2012.
• "Shadow" inventory has been trending down since the 3rd quarter of 2009.
• Home sales have increased approximately 10% across the board since July 2010 the 'natural way' [post tax credit].
• Feels that Naples 'over-corrected' and will see a 10% increase in values by the end of 2012.

John Tucillo~The New Reality:

• "Perceptions and Expectations"...most people outside the state of Florida still think we are in the "dumper"...we're NOT!
• We ARE in a "mini" recovery due to: sales and pendings up, inventory is down, and 'lender-related' properties have stabilized.
• We are seeing multiple offer situations.
• Wealth is being restored which benefits Florida.
• Several things which are driving the current market include: Employment is up, discounted prices, and lenders have gone through the learning curve of short sales and can usually expedite the process in more frequently.
• "If you are looking for an investment with a 5+ year time frame, buy Florida real estate!" The 'Pros' are back [investors], and it might even be too late for the 'novices'.
• FloridaRealtors.org is putting together a concise pricing index tracking historical data back to 1995 which will be much more accurate than the Case-Shiller studies which are very limited in scope.

Shelton Weeks~ Regional Economic Overview:

• Spoke about the "behavioral and psychological mindset: When the housing is depressed it influences how the world 'sees' most everything"...
• There has been a 'gradual' decline in unemployment in the region.
• Inflation is up due to rising fuel costs.
• Predicts Fed Funds will remain low through the end of 2014 which should benefit our area.
• Collier County tourist tax revenues are up.
• Single family Permits Issued in Collier County are up 118% from April 2011 through March 2012 from the low in April 2010 through March 2011.
• Generally optimistic about all real estate categories [residential, multi-family, commercial].

Doug Duncan~ 2012 The Year of the Political Economy:

• Those countries that make up 50% of the world's Gross Domestic Product (GDP) face a national election or leadership change in the next 12 months! [this was one of the most interesting facts that I took away from the day's summit].
• He stressed the difference between "Private Sector jobs vs. Public Sector jobs".
• Talked about the potential ramifications, costs and economic pitfalls of 1.) expiring tax breaks and credits, 2.) revisiting the debt ceiling, 3.) the Supreme Court weighing in on healthcare.
• Spoke about the 'shift' underway between renting vs. owning, and stated the 1-4 unit rental properties sales are increasing substantially-Up 54%
• Homeownership in the USA peaked at 69%. [65% is 'normal'].
• The top reasons why people used to buy homes was for appreciation and mortgage tax deductions. Today the #1 reason why people buy homes is the "ability to control their environment"...They want to put that nail in their own wall, built a rock garden in their own backyard, paint the shutters whatever color they choose..."

Cindy Carroll~Naples Remarkable Statistics:

• Understanding economic cycles: 1988-1989 a downturn in Naples. 1992-1996 a 'flatline' in our local market. 2004-2005 the peak, and in September 2005 we were at the Top!
• In 2007-2009 some markets in Collier County lost 50% value.
• A lot of the problems occurred, not just because of the people who bought during the frenzy, but also those who refinanced and literally 'bought their homes back and spent their equity' for swimming pools, new cars and vacations.
• 2009-2011 will be known as the 'recovery' years.
• Supply vs. Demand is becoming a big part of the evaluation process: 1st quarter stats in Naples are remarkable such as: housing priced between $500,000-$1 million up 29% this year over last year. $1 million- $2 million up 14%. Overall median closed sale prices up 29% this year over last year. Inventory down 13% over the past 12 months.
• Today in many neighborhoods there is a shortage of inventory. Any community with less than a 12 month absorption rate is considered a "shortage".

I am hopeful this program will become an annual event at The Naples Area Board of Realtors. I was told that we were filled to capacity and may even have to find a larger venue for next year as so many local agents were turned away. Many thanks to the task force that created such a wonderful event with such note worthy speakers.

For more details about what is going on locally in The Naples Real Estate market, please contact a member of The Harris Peppe Team today. We are dedicated to educating the consumer in order that they may make more informed decisions when investing in homes or condos in Southwest Florida. 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

*statements and are intended to be accurate, and at times have been paraphrased for the purpose of writing this post.

Coldwell Banker Sees Signs of Housing Recovery

The 2012 Housing Recovery

Coldwell Banker President, Budge Huskey, COO, gives his outlook on the national real estate market today on Fox business news channel. Please take a moment to listen to his interview by clicking on the link below. I think one of the most interesting points he made, is that although some naysayers continue to wait on the sidelines, predicting the upcoming "glut" of foreclosures which are due to hit the market will continue to keep prices down, Mr. Huskey confidently states the demand for these properties will absorb this possible inventory. I agree. Naples Real Estate is on the upswing, as i stated in a post earlier this week. Please refer to that post for some of the most recent, pertinent statistics.

http://video.foxbusiness.com/v/1524766069001/coldwell-president-sees-signs-of-housing-recovery/?playlist_id=87185 Please call The Harris Peppe Team if buying a home or condo in Naples is in your future. We look forward to hearing from you soon, and we hope to earn your business. Thank you, and make it a great day, The Naples Real Estate Blogger

Naples Florida Real Estate Update

MORE GOOD NEWS!

Recently released statistics, from The Naples Area Board of Realtors [NABOR], report more good news! Closed home sales, as well as sales pended, have increased 5% over the past 12 months. This data tracks all home and condo sales in Collier county excluding Marco Island, which has its own board. In addition to the increase in sales, our inventory is way down...an overall decrease of 17% less than what was active a year ago! There is so much data--so many statistics...but, to simplify and make the outline more concise I wanted to concentrate on the numbers which were the most striking to me.

• Overall pending sales increased 55% in the $500,000 to $1 million category February 2001 to February 2012.
• Closed sales increased 13% in the $1 million to $2 million category 12-month ending.
• Overall closed sales increased 70% in the $2 million plus category during that same time period.
• Median closed sale prices are up 5%.
• Inventory decreased 17%.
• Over all pending sales in the $300,000 to $499,999 range are up 11%.
• Naples Beach [which includes zip codes 34102, 34103 & 34108] pending sales increased 17% and closed sales increased 20% 12-month ending.
• 855 homes pended last month in the "under $300,000" price range. Presently there are 646 homes active in this price range. That equates to approximately a 9 month absorption rate.
• The overall market experienced 8,349 closed sales for the 12 months ending February 29th 2012 compared to 7,929 closed sales for the previous 12 month time range.

A year ago, as released by NABOR on their site NaplesArea.com on March 18th, 2011, home prices were up 10%. With the current trend of low inventory, low interest rates and continued demand from both investors and foreign buyers as well as baby boomers looking for a vacation home or permanent Florida residence, I feel confidant that number could double this year! What I have referred to as the 'trickle up' effect is now causing low end prices to increase, pushing middle pricing higher and demand for middle pricing to gain great strength. ~And, well priced luxury real estate is also breaking records!

Lower inventory and increased demand creates an urgency that effects value. A perfect example: Chip Harris had a listing in Old Naples, on and off the market, for approximately 4 years. Like so many sellers, they got into the trap of continuing to chase the market down with price reduction after price reduction. This is not uncommon as many agents will agree. Last month they received 4 offers within 24 hours of another...One of the buyers who did not get his offer accepted wanted to keep his contract in back-up position. Chip then called other owners in the same complex, and that buyer ended up paying more for another unit in the same building! Cindy Carroll, a principal of the appraisal firm of Carroll & Carroll was recently quoted as saying, "The market is on fire!" I couldn't agree with her more!

For additional information about a particular Naples neighborhood or statistics about a certain price range, please contact a member of The Harris Peppe Team today at 239.370.0574

Thank you, and make it a great day,

The Naples Real Estate Blogger

Coldwell Banker's Latest Ad Campaign!

The Value of Owning a Home

Coldwell Banker recently released their 2012 ad campaign at the annual business conference in New Orleans. The creative agency selected by Coldwell Banker to head up this campaign is Siltanen & Partners in El Segundo, California. A very different approach to their marketing was adopted this year in order to play up the emotional reasons for owning a home. Personally, I have always felt that owning a home had more to do with those emotional connections and the memories that are created...those things which make a house a home. I've been selling this way for 31 years! In this day and age, when the idea of home ownership has taken such a beating, I believe it was a very good idea for the world's largest real estate company, Coldwell Banker, to play up these less-than-rational reasons for buyers to consider a home purchase today....Quite simply, people buy homes because they want to own a piece of the earth....they want to hang a picture, paint a wall, have a pet, plant a tree. Real estate agents who get this, who really understand the privilege it is to be such an intricate part of this process will always fair well, even in tough times.

The Harris Peppe Team at the Coldwell Banker Previews office in beautiful downtown Naples, Florida has always embraced this higher calling. "We don't sell 'bricks and sticks'...we sell a place where babies grow up, where backyard barbecues celebrate birthdays and graduations, where grandparents watch their grandkids to play & swim...We sell lifestyles." I'm in awe of this responsibility everyday.

Check out this video and let me know what you think. Oh, and tell me if you can figure out whose voice that is narrating! ~click here for the Coldwell Banker "Value of Owning a Home" ad.

Call us today if you would like to work with one of the agents on our team. We look forward to hearing from you soon and we hope to earn your trust and future real estate business. 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

Need vs. Desire

Would you like to have some Naples Real Estate in your shopping cart?

Vacation and resort destinations have an entirely different set of rules when it comes to 'buyer urgency' when compared to other markets. Jerry Murphy, managing broker at The Park Shore Coldwell Banker office, always says, "There are two kinds of buyers in the world...those that 'need' to buy and those that 'desire' to buy". That goes for just about anything...real estate is no exception. Here in Naples, the vast majority of the buyers we work with are those 'desiring' a new home or condo. Obviously, it is easier to sell to someone who needs something...regardless of the price tag, big or small: Whether purchasing a new dress for an upcoming event vs. browsing the rack at a local department store for fun...shopping for a car because your lease is up vs. looking for a sports car because you've always wanted one...OR buying a home due to a job transfer vs. visiting Naples Florida and wanting a vacation home; the motivation or lack thereof remains the same with any of the above purchase comparisons. I think this might be one part of the equation that sellers sometimes forget to factor in during negotiations. In many cases they "need" to sell, but the prospects looking at their properties are just "desiring" a vacation home.

If you would like to have some sunshine and palm trees in your shopping cart, please contact one of the members of The Harris Peppe Team at 239.370.0574 today! It is their privilege to help you find your heart's desire here in paradise! Give them your real estate wish list and you'll be on your way! If you would prefer to do your own "on-line shopping" first, they welcome you to log onto their award winning website, NaplesRealEstate.com, where you can search for ALL of the homes and condos presently for sale in our multiple listing system.

Thank you, and make it a great day!

The Naples Real Estate Blogger

Things to do in Naples Florida!

There is never a lack of activities in this diverse town, that I can assure you, and this weekend is no exception. The Naples National Art Festival is consistently ranked among the top 10 art festivals in the country! Held in beautiful Cambier Park, there are over 260 artists showcasing their talents. Come on down this Saturday & Sunday, February 25th and 26th from 10 a.m. to 5 p.m. The suggested donation is $5. There will also be entertainment and food court! For more information about the event, or other information about the downtown Naples arts log onto The von Liebig Art Center or call 239.262.6517

Another interesting annual event taking place this weekend is the Annual Collier Fruit Growers tree sale. Head on over to Freedom Park this Saturday February 25th from 9 a.m. to 2 p.m. and you will find more than the typical citrus! A few years ago I bought a Jaboticaba tree--a slow grower, but it has been a labor of love trimming it as it has developed into a lovely addition to our backyard...still waiting on fruit, I am going to make my way over between real estate appointments tomorrow to see if i can find another rare and exotic fruit tree! Who knows, maybe a lychee! For more details please log onto the Collier Fruit Growers website!

Last but certainly not least, and now in its 2nd year, the Naples International Art & Antique Fair brings an array of galleries showcasing fine art, jewelry and furniture from around the world. This event takes place now through Tuesday February 28th at the Naples International Pavilion at Immokalee and Livingston roads. I also recommend you log onto the Naples International Art & Antique site, too!

Yes, there is never a dull moment in paradise...and if you have a little bit of free time this weekend to look at some of Naples Best Real Estate, please call one of the experts at The Harris Peppe Team. We promise you, it will be just as much fun and maybe even more interesting than anything else you might decide do this weekend! We look forward to hearing from you soon, and we hope to earn your trust and future business!

Thank you, and make it a great weekend!

The Naples Real Estate Blogger

Naples Real Estate-Old Naples Condo Update

Here is an example of what is presently happening in Old Naples....

So, we've had this one listing since January 2008....We began with an asking price of $499,000, which was right in line with the most recent closed sale at that time of $465,000. The property went on and off the market a few times over the years, while slowly chasing the market down, like many of the sellers...Numerous price adjustments later, and no offers; again in late 2011 the time had come to review the inventory and determine a list price for the upcoming season. It was the first time in a few years, when comparing the inventory to the closed sales, that we truly believed we had a "balanced" market. Taking everything into consideration, a list price of $299,900 was placed on the listing. This is a 1000 square foot 2 bedroom condo just a couple of blocks to the beach. Nothing fancy, no recent updating...But, it was turnkey furnished and had a nice community pool area and a lucrative rental history. Well, we got 4 offers last week on this listing, all within 24 hours of one another! Multiple offers? When was the last time you heard of "multiple offers"?

Currently there are 45 condos on the market in Old Naples priced at or below $300,000. Only 1 of them is listed as a short sale. In the past 12 months there have been 46 closed sales in this same price point in Old Naples...this is a very balanced market! And it's not just this price range; although this market segment still remains the driving force of our recovery in Naples...and of course, Old Naples is always very popular. Recently, I read that the "middle" price range of $500,000-$1,000.000 has seen a 29% increase this year over last year! That's healthy!

You should see the foot traffic on Fifth Avenue South! This place is bopping! Chip & I both agree that we haven't seen this much action downtown in a few years. It's exciting to be a part of all this activity.

For details or specifics concerning the Old Naples Real Estate market, please give us a call. There are still some excellent values available, and The Harris Peppe Team would be happy to assist you. 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger

*information from SunshineMLS and is deemed reliable but not guaranteed.

Naples Florida Real Estate Update

Inventory Is Down ~ Inquiries Are Up!

January is now behind us, and Easter is early this year, which means we are now technically 1/3rd the way through our "season". There are a lot of buyers in the market place....open houses, floor time opportunity, sign calls and Internet leads have all increased substantially. Even the media, for the most part, is reporting good news on the real estate front. Inventory is way down, and in many cases when working with buyers, in just about every price range, we are having trouble finding quality listings that are priced right.

Here are a few examples:

• Presently there are only 2,636 Active single family homes for sale in all of Naples.
• 265 of the 2,636 are listed as "short sales"
• There are 701 single family homes in MLS priced below $300,000., and of those 181 are listed as short sales, which is nearly 70% of all short sales on the market.
• 2,373 single family homes sold and closed in Naples which were listed at or below $300,000 in the past 12 months. Therefore, based on the 701 currently for sale, this equates to approximately a 3.5 month absorption rate. Those buyers looking for decent low-end housing are running out of options. Many of the listings that are selling are being purchased by investors.
• Contrary, there have been 370 single family homes sell in Naples in the past 12 months listed at our above $1 million.
• Presently there are 735 single family homes Active in the Naples MLS priced at or above $1 million. The Naples luxury real estate market is still soft when looked at as a whole, except in those areas where inventory in the under $1 million price point has diminished, such as Olde Naples or Naples waterfront Properties.

If you would like information about any specific neighborhood, or for information about what we believe are today's BEST BUYS, please contact any member of The Harris Peppe Team. We look forward to hearing from you soon, and we hope to earn your business. 239.370.0574

Thank you and make it a great day,

The Naples Real Estate Blogger

*data derived from the Naples multiple listing system, SunshineMLS, info deemed reliable but not guaranteed.

Naples Real Estate Update

What is happening today in the Naples Real Estate market?

Just released, The NABOR Market Report has some exciting and interesting statistics about the current state of the real estate market in Naples Florida. Several factors are coming into play regarding value, primarily supply and demand. The 2011 housing inventory ended at a 5 year low. Specifically, the number of properties listed below $300,000., which has been the driving force behind our recovery, are way down. There has been a 21% drop in inventory in this price range. This is the lowest level of housing available in the under $300,000 homes and condos since 2007! Of those currently active in this price point, there are only 771 single family homes. This is 'pushing' the average price up in the under $500,000 range. Presently there are nearly 1,600 fewer listings available this January than there was a year ago. This translates to fewer choices for today's buyers.

Sales and average sale prices are increasing across the board. The Previews listings, those listed at or above $1 million have seen the largest increase in both pended contracts and closings. The last quarter of 2011 compared to the last quarter of 2010 saw a 38% increase in the number of closings between $1 - 2 million dollars! The over $2 million luxury homes and condos increased 12%. When you take the under $300,000 closings out of the equation, the overall median closed sale price increased 2%.

Some of the areas where The Harris Peppe Team focuses much of their business are the Old Naples area [NA06], and Naples Waterfront, [NA 07 & NA08] comprised of Port Royal, Aqualane Shores and The Royal Harbor area. The graph above is a stunning visual of the trend of the average price of single family closed sales in these waterfront communities. [click on graph to enlarge].

Presently in Old Naples there are 72 active single family homes available. Only 12 are priced below $1 million. There were 63 single family home closings in 2011, this reflects are fairly balanced market, and those listings on the best lots will sell if priced well this season.

On the water in the Royal Harbor area there currently are 44 single family homes on the market. Only 17 of them are listed below $1 million! Last year there were 38 total closings in the Royal Harbor area. Again, we are seeing just over a one year supply...that is quite a recovery when you take into consideration those neighborhoods had a 9.6 year supply in April of 2007. Here prices are a bit more scattered, but again the best lots priced right will sell. Also, the number of inventory homes in both Old Naples and on the waterfront with gulf access is minimal. If you are looking for a newer home in any of these communities you have very few choices.

People ask me my opinion about what the cynics call the "shadow inventory"...and it is my feeling that our market is in good shape to take on that inventory. Keep in mind, most of the short sales and foreclosures are not in the high-end neighborhoods.

Well, I hope you found this little recap informative. Please call The Harris Peppe Team today to assist you with your Naples Real Estate housing objectives. We are here to help you any way we can. 239.370.0574 and we are always interested in your feedback!

Thank you, and make it a great day!

The Naples Real Estate Blogger

*information derived from SunshineMLS and is deemed reliable but not guaranteed.

Good Intentions

Who is it that said the road to heaven is paved with good intentions? I'm not sure, but if that's the case, I'm well on my way. I had a lofty goal this year: I wanted to post to my real estate blog at least 3 times each week. I had, what I thought, was a fairly easy schedule to implement, and I had a list of wonderful suggestions from some of my faithful blog followers as to the type of content they hoped for...I had every good intention...I was committed...and now I'm beginning to feel like I should be 'committed'.....along comes 'season' and BAM! I had forgotten what it was like to be this crazy-busy! I mean, we are busy all the time, but this month just seems busier than Januaries past...with that being said, I promise, there will be some year-end stats from 2011 coming your way soon...

Thank you, and make it a great day!

The Naples Real Estate Blogger

Naples featured Business of the Week

Hi there! It has already been a crazy first 9 days of 2012. Wow! The feedback I've gotten from the last question posed online regarding content was overwhelming! Thank you all for your emails! I have already decided to change one thing because of the result of asking for your suggestions. Our "Select Vendor of the Week" will now be called "Naples featured Business of the Week". This will also allow me to feature restaurants and galleries and other such businesses that don't really 'qualify' as vendors per se. That being said, The Harris Peppe Team is pleased to feature The Mangrove Cafe restaurant on Fifth Avenue South as our very first selection of the new year. The Mangrove Cafe has been consistently featured on our annual "Chip's Picks" and featured on the restaurant page on our award winning website for many years. It is the longest existing restaurant on Fifth Avenue South! Their motto is "Think Global, Eat Local"! They are ranked #1 on tripadvisor.com of the over 450 restaurants in the Naples area. It is one of my favorite downtown restaurants, and my two favorite entrees on their diverse menu are The Sweet and sour Snapper & the Maddonini Chicken! Both amazing! They have a fabulous special which they refer to as The Mangrove Cafe Stimulus Package. Every evening, between 5 and 9PM you can get any 2 entrees on the menu along with a salad, bread AND a bottle of wine for $35.00! No kidding...it is phenomenal!

The Mangrove Cafe is located at 878 Fifth Avenue South. They can be reached at 239.262.7076 or you can view their menu on their website: The Mangrove Cafe. In addition to our "Chip's Picks" they have also been awarded "Best Martini" by Gulfshore Life Magazine, "Best International Menu" by The Naples Daily News, and "Best Creative Menu" by Naples Illustrated Magazine. *Make your reservations today--you might just run into The Naples Real Estate Blogger, too!

Thank you, and Make it a GREAT day!

The Naples Real Estate Blogger

*please tell them The Naples Real Estate blogger sent you!

The Unveiling of a New Year of Blogging!

Greetings Naples Real Estate Blog Fans!

We are nearly one week into the new year and I am trying to come up with some fresh ideas to increase activity on our blog! One thing which I am going to try to do this year is keep a "patterned pace" when posting. I've learned several tips from fellow bloggers, and more regular posting seems to be one of the keys to successful blogging. Keep in mind, when I began to blog 4 years ago, only 3% of the real estate population blogged. That percentage has increased substantially, but as of this writing, I only know of two other agents in my office, of over 80 agents, that blog. Of course, I'm not referring to the "micro-blogging" done on Facebook or TWITTER --I'm talking about a real, honest-to-goodness, consistent blogging! So, with all that being said, I am looking to my faithful followers for any ideas and content suggestions. My intention is to select a local Naples vendor or restaurant to feature every Monday. On Wednesdays I will feature one of The Harris-Peppe Team listings, upcoming open houses, recent price reductions or news and accomplishments of one of our team members. Then on Fridays, I will post about trends in Naples real estate, local statistics, links to news worthy articles, best buys, and other information that I believe will be both interesting and [hopefully] entertaining! I've even thought of maybe doing a monthly "Where in Naples Am I?" with a prize for the first follower to guess my location! Anyway, I am very excited to continue and improve my postings. Since 2007 I have blogged over 300 posts. It is very time consuming, but the results have been extraordinary, and the business we have gotten from this is excellent. Most of my audience isn't ready to buy right now, but I can't tell you how many emails and phone calls we get from folks who tell us that when they are ready to buy their dream home in Naples Florida, they would not consider working with any one else except The Naples Real Estate Blogger!

Thank you again for reading our blog. We wish you a very Happy New Year, and we look forward to hearing from you with any fun ideas and suggestions!

Sincerely,

The Naples Real Estate Blogger

2012 : The Year We Have All Been Waiting For...

"An optimist stays up until midnight to see the new year in...A pessimist stays up till midnight to make sure the old year leaves."

~Bill Vaughn

So, has there ever been another year written about as often as 2012? Of course, 1984 comes to mind...as does the new millennium. Ah yes, waiting for the clock to strike on December 31st, 1999 at 11:59 PM--I'm sure you remember where you were at that moment....ten, nine, eight, seven, six, five, four, three, two, one...Wasn't the world supposed to end then, too? But, the Twenty-12 phenomenon has crept beyond ones own imagination into the mainstream with impending fears of cataclysmic events that are predicted to change the world as we know it...Movies have been made [the disaster film made in 2009: 2102], scholars have studied Mayan history and culture [it's their calendar that many of the predictions are based upon], and New Age beliefs about galactic alignment are taking notice among even the less mystic-minded souls...Doomsday theories have spread like wildfire, especially with the use of Internet, Youtube...Dan Brown's book, The Lost Symbol...why even The History Channel aired a special series about "The Last Days on Earth" and "Nostradamus 2012". The Discover Channel also aired "2012 Apocalypse"...supposedly more evidence that earthquakes and volcanoes will throw us all into a black hole...just more doomsday hype?

What do you think all the hype is about? And, what do you think we should be taking seriously, or not so seriously? What are you planning to learn from all this sensationalism, and where do you intend to be on December 21st, 2012? I'm sure, if you are being honest, you've thought about this. For me? Well, I've seen Gregg Braden live, I've read his books...I'm interested in what he says and very open to his explanations. I've studied Mesoamerica prophecy, although not as in-depth as many, but enough to feel pretty comfortable about hosting Christmas Eve at my house again next year--

I believe this...Typically, in trying times, the greater the challenge the greater the lesson. An example; if you have ever spoken to someone who is a cancer survivor they will tell you that event changed their life forever...and almost always for the better---Difficulties teach us to prioritize. They teach us to remain calm during a storm. They teach us to live life to the fullest. They teach us to appreciate those things that we might overwise take for granted. They teach us that "this too shall pass..." They bring out the best in us that we might otherwise have never been called forth to dig as deep to find our inner strength...So, it's not necessarily the END OF THE WORLD, but rather the end of the world as we know it...from the smallest scale to the largest. And maybe, just maybe it will be a kinder, gentler world--now wouldn't that be wonderful! I believe everyday can be our "doomsday" or the "first day of the rest of our lives"...Only you get to decide.

Let's make 2012 the best year yet!

Thank you, and Happy New Year,

The Naples Real Estate Blogger

Business Planning 101

Well, here we are, getting ready to flip our calendars over to yet another year. It'll probably take more than a few times of mindlessly writing 2011 on checks and letters before the new year sinks in and twenty-12 becomes more natural. It's been a good year...we met our business goals, our children and grandchildren are all healthy, my mom is still getting younger with every passing year, we took a few great vacations...Yes, life is good in paradise. As I am writing this Chip is sitting at the desk beside me working on spreadsheets for our income taxes and I have been busy putting the finishing touches on our 2012 Business Plan. I've been writing a Business Plan for many years, and only once in the past 20 or so years did I make the choice to go it alone without the aid of a written plan. [It's a long story]. As it turns out, that ended up being a pretty good year, yet the very next year I went back to a written plan. I'm just one of those people that stays on track more easily if I have a plan. I think that's true of most folks. Personally, I will be very happy on the day I can chuck all that planning aside for a more serendipitous life, but for now, and for my sanity I plan, I organize, I color code.

For those of you reading this that are considering writing a business plan, maybe even for the first time, here's a little guidepost to get you started.

#1. You've got to have goals, but more importantly, you've got to have strategies for obtaining your goals: tactics and systems in place that support and direct you to the results you desire.

#2. I recommend, in addition to a business mission statement that you also have a personal mission statement. One or two concise sentences that sum up who you are. I've had the same personal mission statement since 1995...never changed one word. It's the purpose of my life.

#3. You must have a marketing plan. This should include a budget that you stick to throughout the year.

#4. Surround yourself with happy, successful, energetic, positive, proactive people.

#5. Keep your plan in a place where you can refer to it often.

Yup...that's about it. Like the post title says, "Business Planning 101"...it really doesn't have to be complicated. You probably already know what you have to do to meet your goals...the question now becomes are you willing to do the work?

If buying or selling a home in Naples, Florida becomes one of your goals, please call us. It would be our privilege to assist you in meeting your Naples Real Estate goals! 239.370.0574

Good luck to everyone in 2012! I think it's going to be an unbelievable year!

The Naples Real Estate Blogger

22 Shopping Days 'til Christmas!

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

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

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

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

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

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

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

Thanks, and make it a GREAT day,

The Naples Real Estate Blogger

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