We're Busy!

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

What is Previews?

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

Going Live! New Website Unveiled!

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

Even More on the Bright Side...

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

Back On The Market

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

The Bright Side

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

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

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

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

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

Good news Bad news

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

Just a thought...

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

Real Estate Stimulus

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

Naples Real Estate Statistics

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

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

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

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

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

Thanks, and make it a great day!

Mortgage Rate Update

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

We're Going Green

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

Financing Condos in Florida

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

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

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

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

Short Sales

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

President Obama's Inaugural Address

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

Equity vs. Bundled

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

Staying Up in a Down Market

People ask me how I stay "up" in such a down market...the answer is really quite simple. First, we know that there isn't anything that we can't accomplish together. This is a must: Be part of the solution, not part of the problem...Be creative, think outside the box, look at challenges as opportunities to learn and improve...A positive attitude, a strong faith. Be pro-active! Also, Chip & I made the decision when we got home from our summer vacation this year to discontinue the local newspaper delivery. We found that we would sit each morning and read the paper and watch the news while drinking our coffee and before we even left the house we were already inundated with too much negativity. Of course, our customers and clients are tuned into what is happening in the world, primarily the financial markets, so we need to stay up to date with what is happening...logging onto a few key websites will bring us up to speed in just a few minutes. We both check the headlines, but steer clear of reports that editorialize. Steer clear of dome and gloom! Next, we concentrate on all the positive things that are happening in our local real estate market rather than the negative reports...and there's plenty of good news! Real estate is LOCAL, and even within Naples there are pockets of the market doing very well. The media creates the perception that the entire town is off by 40 or 50%, but that simply is not true. There are some great bargains right now, and interest rates have never been better. ~Probably one of the greatest football coaches of all time, Vince Lombardi, had a wonderful coaching philosophy. Each week before the game he would show his players films of all the plays they got right the previous week...I believe this had so much to do with his success. What you focus on becomes your reality; so, if you worry, more things to worry about WILL come your way. Accentuate the positive! It's easy once you make it a habit. And besides, people like working with happy people! We look forward to hearing from you. Please call us with any questions about any specific areas in Naples. Call us or check out our website at www.NaplesRealEstate.com We will be happy to assist you and hope to earn your business! 239-370-0574

Two Homes for The Price of One!

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

Happy New Year from NaplesRealEstate.com

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

Room with a View

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

2009 Real Estate Predictions

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

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

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

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

More Good News

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

To Decorate or Not To Decorate

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

New Naples Listing!

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

Giving Thanks

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