Living the Good Life

Naples State of the Market Report for September 2013

Wed, 02 Oct 2013 03:00:00 GMT

Greetings,

It is our pleasure to present you with the most current information in the Naples real estate market. Please review the following pages which will give you our most current listing and sales activity, as well as graphs which chart the directional trends in our marketplace.

Click on the link below to view your
State of the Market Report for September 2013

http://joom.ag/C9tX

In addition there are some interesting articles which relate to factors affecting our real estate market, both here in SW Florida as well as the US in general.

If you have any questions or comments, you may reach us at 888-743-2384.

It is always my pleasure to serve you with all of your real estate needs.

Live Your Dreams!

Jo Ellen Nash

Naples State of the Market Report for August 2013

Fri, 06 Sep 2013 03:00:00 GMT

Greetings,

The end of summer is already here!

Every month I publish a State of the Market Report to keep our clients, friends and potential buyers up-to-date on the constant changes in our real estate market here in Naples. It is part of my commitment to regularly stay in touch with people who are important to us and keep them at the forefront of our market.

FOR AUGUST'S MARKET REPORT CLICK BELOW:

http://joom.ag/740X

If at any time I can provide you with a specific market analysis of your neighborhood or property, please don't hesitate to email or call me. It is always my pleasure to serve you.

Live Your Dreams!
Jo Ellen

Naples Housing Market Summer Boom

Fri, 16 Aug 2013 03:00:00 GMT

Statistics for both the second quarter and June show that the torrid pace of sales and prices, strong since the beginning of the year, has continued into the dog days of summer. Meanwhile, both inventory and days on the market have fallen, the Naples Area Board of Realtors announced Friday.

“All key indicators are going in the right direction,” said Mike Hughes, broker, vice president and general manager at Downing-Frye Realty. He and other brokers were on a NABOR panel that on Friday discussed the newly released numbers, which showed statistics for June, and also for the second quarter, compared to the same periods a year earlier. Summers have been surprisingly strong for at least the past four years, as more winter visitors and foreign buyers have decided that now is the time to buy, Hughes said. “People have been holding back from buying toys for some time now,” said Coco Waldenmayer, broker and manager at John R. Wood Realtors. “There’s a pent-up need.”

Overall, pending and closed sales hit the double or triple digits in all categories for the month. But for the quarter, pending sales in the under-$300,000 price range fell 1 percent while closed sales fell 16 percent. Several panelists noted that the slower sales for the quarter in the under-$300,000 range weren’t a function of lack of demand but rather dwindling supply of lower-end housing. The best result was in the $2 million-and-up range, where for June, pending sales rose a whopping 162 percent and closed sales were up 50 percent. For the quarter, pending sales increased 38 percent and closed sales were up 18 percent.

Overall, median closed prices jumped 20 percent, to $265,000, for the month and 13 percent, to $249,000, for the quarter. The median is the price at which half the homes sell for more and half for less. The $2 million-and-up category performed the best for the month, with prices rising 26 percent to $3.5 million. For the quarter, they dipped 2 percent to $3.05 million. Prices in the $1 million to $2 million range also were positive. They were up 5 percent in June to $1.36 million. For the quarter, they also were up 5 percent, to $1.39 million. “High-end condos are leading the way,” said Brenda Fioretti, managing broker at Prudential Florida Realty.

For June, prices were unchanged in the $300,000 to $500,000 range, at $375,000, and also in the $500,000 to $1 million range, at $637,000. For the quarter, prices rose 1 percent, to $375,000, in the $300,000 to $500,000 range, and fell 3 percent, to $660,000, in the $500,000 to $1 million range.

Much new construction is being built in these mid-range price points, which Hughes described as the “sweet spot” in terms of demand. New homes are especially popular with buyers who are migrating to the area from the Northeast and Midwest, said Wes Kunkle, NABOR’s president and managing broker at Weichert Realtors. “Back in the ‘80s, you could close this place down in the summer,” he said. “Now people are looking for permanent homes, and are staying year-round.”

The Naples beach area was the most popular region in terms of sales. Pending sales in the areas west of U.S. 41 were up 60 percent for the month and 23 percent for the quarter. Closed sales rose 9 percent for the month and 6 percent for the quarter. But at least until building can catch up with demand, supply remains constrained. For both the month and quarter, overall inventory levels (excluding pending construction) dropped 16 percent, to 5,282 units. This is partly due to fewer short sales and foreclosures being released by banks, as well as homeowners who are delaying putting their homes on the market until prices rise further, according to Waldenmayer. But those sellers who are listing their homes are finding buyers more quickly than they did last year. Average days on the market dropped 8 percent, to 163, for the month, and 13 percent, to 161, for the quarter. “These are pretty good times,” Hughes said.

Naples State of the Market Report for July 2013

Fri, 16 Aug 2013 03:00:00 GMT

Greetings,

The end of the 2nd quarter here in Naples has brought some excited changes! Sales are up 6% and Collier County was #1 in the Nation for increase in the Rental Market!

Every month I publish a State of the Market Report to keep our clients, friends and potential buyers up-to-date on the constant changes in our real estate market here in Naples. It is part of my commitment to regularly stay in touch with people who are important to us and keep them at the forefront of our market.

FOR JULY 2013 MARKET REPORT CLICK BELOW:

http://joom.ag/rQgX

If at any time I can provide you with a specific market analysis of your neighborhood or property, please don't hesitate to email or call me.

It is always my pleasure to serve you.

DWINDLING INVENTORY DRIVES HOME PRICES UP

Mon, 17 Sep 2012 03:00:00 GMT

Naples, FL (September 14, 2012) - The Naples area real estate median closed price increased a remarkable 10 percent for the 12-month period ending August 2012, according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Brenda Fioretti, NABOR Media Relations Chairman and Managing Broker of Prudential Florida Realty said, "At the NABOR Economic Summit held this past April, Dr. Lawrence Yun, chief economist of the National Association of REALTORS® predicted that he 'would not be surprised to see a 10 percent increase in home prices in southwest Florida by December.' Well, the Naples area median home price just reached a 10 percent increase in less than four short months, just as Dr. Yun predicted."

Cindy Carroll, Vice President of Carroll & Carroll Real Estate Appraisers & Consultants in Naples stated, "We are beginning to see the results of the inventory decline coupled with the increased median closed price. Looking at the inventory statistics it is interesting to note that in less than eight months, we reached an overall inventory of 6,043 in August 2012 from 7,860 in January 2012. The last time we saw the inventory this low was in 2005."

The NABOR® August report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an overall market summary.

The August sales statistics are presented in chart format, with these overall (single-family and condominium units) specifics:
• The overall median closed price increased 10 percent, from $176,000 to $194,000, for the 12-month period ending August 2012.
• Overall pending sales increased 16 percent in the $500,000 to $1 million category, from 939 units to 1,091 units, for the 12-month period ending August 2012. Overall pending sales increased 10 percent in the $1 million to $2 million category, from 424 units to 466 units, for the 12-month period ending August 2012.
• Overall inventory decreased by 13 percent, from 6,930 in August 2011 compared to 6,043 in August 2012. Pending sales with contingent contracts are included in the overall inventory number.
• The average DOM (Days on the Market) decreased by six percent, from 178 days on the market in August 2011 to 167 days on the market in August 2012.
• Overall pending sales in the Naples coastal area increased 10 percent from 1,779 units to 1,950 units, and closed sales increased 9 percent, from 1,586 units to 1,732 units, for the 12-month period ending August 2012.
"The strong numbers clearly reflect the economic model of Supply and Demand. As inventory decreases and demand for homes remains high, we are observing an increase in prices. The statistics from the last three months have capped off a strong summer. The Naples area is no longer as seasonal as it used to be," said Mike Hughes, Vice President and General Manager of Downing-Frye Realty.

"It is important to remember that the increase in prices can vary from zip code to zip code and neighborhood to neighborhood, so it very beneficial for people to consult a REALTOR®," said Coco Waldenmayer, Managing Broker of Engel & Völkers.

"The market is shifting to higher priced properties," commented Ernesto Velasquez of United Real Estate. "The number of sales under $300,000 decreased which indicates increased values of real estate and market advancement."

To view the entire report, visit http://www.NaplesArea.com

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 4,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

Naples is one of the Best Small Towns in America

Sat, 04 Aug 2012 03:00:00 GMT

Smithsonian Magazine Posted by Mark Washburn on Friday, June 8th, 2012 at 10:25am.

The recognition by the national press that Naples is a special place continues with a ninth place ranking by Smithsonian Magazine in its ranking of the Best Small Towns in America. This recognition follows the recent ranking of Naples as the second happiest seaside town in America.

To those of us who truly love Naples, it is no surprise to see these accolades reigning down on our fine town. Factors cited by the Smithsonian in picking Naples for this recognition are the active cultural experience including the Naples Zoo, the Naples Players, the Naples Art Association, the Naples Historical Society and the Naples Philharmonic.

Beyond the cultural organizations, the art galleries, beaches, shopping and restaurants all add to the attractiveness of the Naples area. Our residential neighborhoods are diverse, unique and a great place to live in Southwest Florida.

Naples Real Estate Inventory Down

Fri, 27 Jul 2012 03:00:00 GMT

HOW LONG BEFORE A LACK OF

INVENTORY AFFECTS PRICES?

Second Quarter 2012 Real Estate Market Statistics

Naples, FL (July 20, 2012) – The overall housing inventory levels are the lowest they have been in six years. Inventory declined at least 12 percent in each price category from the second quarter of 2011 which had 7,208 properties compared to the second quarter of 2012 with 6,310 available properties, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

“We are finding that in many cases properly priced properties are selling quicker, and some are generating multiple offers. “We are seeing the gap between the list price and sale price narrowing in most market sectors,”

Words from the Appraisers. “While a 10 to 12 percent discount off the list price was the norm 12 to 18 months ago, 5 percent to 7 percent (and less) is the current trend. This results from the continuing decrease in inventory and reflects sellers holding firm on their asking price. Buyers are realizing that the pool of available properties that meet their individual criteria is limited.”

The second quarter report provides comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties. Here are some basic statistics:

• Overall closed sales increased 4 percent from 2,700 sales in the second quarter 2011 to 2,817 sales in the second quarter 2012.

• The overall average DOM (Days on the Market) decreased 2 percent from 188 days in the second quarter 2011 to 185 days in the second quarter 2012.

• Overall pending sales remained relatively the same for the second quarter 2012 with 2,877 pending sales compared to 2,879 pending sales in the second quarter 2011.

• Naples Beach Area overall closed sales increased 15 percent from 568 closed sales in the second quarter 2011 to 654 closed sales in the second quarter 2012.

The real estate market continues to clear. Prices haven’t done much but inventory is down, and this is progress from an economic standpoint.
“Days on market continue to trend downward, especially in the $500,000 to $1 million market, which shows a 37 percent decrease from 216 days on the market in June 2011 to 136 days on the market in June 2012,” said Bill Poteet, 2012 NABOR President.

Get a steal in Grey Oaks

Tue, 17 Jul 2012 03:00:00 GMT

A wonderful contractor's opportunity in Grey Oaks is available. Now a short sale, this estate home is on an extraordinary acre lot with beautiful landscaping on the fifth hole of the golf course.

It has wonderful finishes and 5,450 sq ft which encompasses a kitchen, two family rooms, a formal dining room, library, office, two master suites, and meditation room at the top of the turret. In addition there is a three car garage, Koi pond, and two large screened enclosures.

Offers greater than $1.2 Million will be considered. This is a fantastic steal!

Grey Oaks is a prestigious gated community in Naples that offers 3 signature 18-hole golf courses, champion tennis courts, a lagoon-style pool, and luxury real estate. Meandering pathways along the golf courses and shimmering lakes provide excellent means to enjoy the beauty of the landscaping and private sanctuaries.

Great tennis community in Naples

Fri, 06 Jul 2012 03:00:00 GMT

Every year at this time, all eyes are on the Wimbledon stage. The best tennis players in the world are on display, and that makes many of us want to either brush up on our tennis skills or perhaps try out the sport for the first time. In Naples, one of the best places to play tennis is at Longshore Lake, an active tennis community. With 9 HarTru courts that are lighted for night play, a full-time professional staff, and a Genie Ball Machine, this is the perfect place to practice with your friends, take lessons, or play in a league.

Longshore Lake is also a perfect place to call home. This waterside community, located in North Naples at Immokalee Road, just 1.4 miles east of I-75, offers canoes, kayaks, and pontoon boats, and during the Summer months, reciprocal golf, dining, and tennis are available at select Naples communities.

One of the most beautiful homes in Longshore Lake is located at 11543 W Longshore Way. With every imaginable upgrade it will appeal to the most discriminating buyer, and the spectacular "fire and water" heated pool and spillover spa create the perfect backdrop for entertaining. Click on the picture to get more details.

Great Dock Canoe Race at Crayton Cove in Naples, Florida

Tue, 15 May 2012 03:00:00 GMT

The Annual Great Dock Canoe Race is arguably Naples' most popular event. Contestants and spectators travel from throughout the country to race and watch, and thousands of people, from young children to grandparents, celebrates the Race on land, dock and bay.

Every year the theme for this spectacular event changes, this years was “Best Dressed Canoe” and “Animal Theme.” As you can imagine the theme brought out some fun filled constants who really allowed their imagination to come to life! Click link to learn more! http://www.greatdockcanoerace.com/

This event brings crowds of all ages. Some take it very serious and start to train early and others make it a fun filled family event. Between the two, this event is a great way to spend your weekend either as a participant or an observer but no matter which one you are, you are guaranteed to have a wonderful time!

This year’s race benefited the Naples Zoo. The Naples Zoo has been a long time local attraction for Naples residents since 1919. The Naples Zoo features over 3,000 different species of plants, a huge array of animals and discounts. To view and learn more about the zoo, please click the following link. http://www.napleszoo.com/home.htm

The Great Dock Canoe Race is one of the many attractions that Naples offers every year. Many who have visited Naples are now full time residents. Being a Naples resident comes with many perks such as the Canoe Race and the Naples Zoo. To view local real estate in Naples, please click the following link. http://www.joellennash.com/

Luxury Living

Tue, 14 Feb 2012 03:00:00 GMT

Norman Love Confections- the ultimate Valentine's Day "Artistry in Chocolate"

http://www.normanloveconfections.com/store/Valentines-Day-Specials

Norman Love chocolates are the most Beautifully decorated chocolates that I have ever seen in my life. These hand-painted or air-brushed pieces of artwork look like edible glass.
Each handmade chocolate is an edible work of art that will arouse all of your senses. Bursting with flavor, Norman Love Confections® offers unique gourmet recipes including over thirty different flavors such as passion fruit, praline, caramel, pistachio and many more. My friend also told me this confectioner has been rated number one for chocolates by Consumer Reports.

This "chocolate salon" now headquarters in Naples, located right next to one of my favorite restaurants, home of the best Chilean Sea Bass I have ever tasted, USS Nemo's. www.ussnemorestaurant.com

Two of my favorite eateries, now right next door to each other! But, don't worry if you don't live in Naples, they will ship to you anywhere.

Make a luxury statement for your Valentine ....True Valentine’s Day Statement Piece: Blancpain’s 2012 St. Valentin Watch

Frequently featured on AskMen.com, Blancpain is undoubtedly one of the legendary watchmakers in the world. In the spotlight this time is a glitzy new addition to their Blancpain Women collection. Following its tradition of Valentine’s Day romance, Blancpain is unveiling its annual exclusive creation for Valentine’s Day with a new limited design watches, the Saint-Valentin Chronograph 2012.

With its diamond-set bezel and lugs, caseband set with four diamonds and a heart-shaped ruby, crown adorned with a diamond and pushpieces covered with cabochon-cut rubies, the Saint-Valentin Chronograph is the statement piece of this season. Its engraved mother-of-pearl dial, featuring a marquetry-work motif composed of three white mother-of-pearl hearts and set with eight diamonds, and delicately hand painted heart shape, all highlight the intense attention to detail infused into this exquisite line of watches.

The sapphire crystal back of the 36 mm case features 308 parts and 37 jewels, along with the oscillating weight clothed in pink mother-of-pearl. With a nod to tradition, the Saint-Valentin Chronograph 2012 uses the same self-winding Calibre F185 featured in the very first ladies’ flyback chronograph model. This model is exclusively available through Blancpain’s boutiques.

Acclaimed as the world’s oldest watch brand, Blancpain has been heralded for its aesthetic and technology since its inception in 1735. Founded by Jehan-Jaques Blancpain, this luxury Swiss watch manufacturer is famous for being the creator of some of the most complicated mechanical watches ever created in history.

Audi announces the limited edition 2012 Model Year R8 GT Spyder

The 2012 Manufacturer’s Suggested Retail Price for the limited-edition R8 GT Spyder is as follows: MSRP $210,000 (excludes $1,200 Destination and Delivery and Taxes)

Even lighter, more powerful and captivating, the Audi R8 GT Spyder delivers breathtaking performance. The open-top flagship version of the high-performance sports Coupe features a 5.2-liter V10 with direct injection and has been boosted to an output of 560 horsepower. With the reduced weight and increased engine performance, the R8 GT Spyder accelerates from zero to 60 mph in 3.8 seconds and reaches a top speed of 197 mph.

Using the principles of Audi ultra lightweight technology, the R8 GT Spyder has trimmed a full 187.39 lbs from an already low weight, increasing fuel economy, performance, strength and rigidity. The engine frame is constructed of ultra-light magnesium, and the long cover over the soft-top compartment and the large side panels at the rear are made of carbon fiber-reinforced polymer. A fixed rear spoiler also made of carbon fiber composite provides the necessary downforce on the rear axle. The Audi R8 GT Spyder is capable of extreme lateral acceleration and engineered to deliver exceptional responsiveness through its sport suspension has a stiffer calibration and lowers the the R8 GT Spyder by ten millimeters versus the R8 V10 Spyder.Legendary quattro all-wheel drive system provides exceptional grip on 19 inch wheels and xyz ventilated and cross-drilled rotors provide exceptional stopping power.

Visual styling cues include a performance enhancing enlarged diffuser, front splitter and a fixed rear spoiler.

The interior is black and can be adorned with stitching in a choice of Titanium Gray or Crimson Red for added refinement. Alcantara applications include, seat inserts, flat-bottom sport steering wheel, hand brake cover and windshield frame.

R8 GT Spyder customer vehicle deliveries will begin as of February.

*Article from Luxury Lifestyle.com

Private Vineyards of the Wealthy and Famous

I have sold and seen many luxury condos, mountain estates and beach house mansions over the past thirty years. I have been on private islands and handled the sale of trophy properties. But now, the newest trend in real estate acquisitions for wine lovers is to own your own vineyard and grow your own premium variety. Here is a list of rich and famous who have purchased their personal vineyard, and maintained them as a part of their exclusive list of assets, including Donald Trump, Brad Pitt and Angelina Jolie, Sam Nell, Antonio Banderas, Johnny Depp, David Beckham and Kate Moss. http://www.bornrich.com/private-vineyards-uber-rich.html

Bling Water

And, if alcohols is not your gig, you can stick with Bling Water. For the uber-rich, who have a blingy lifestyle can now go even more overboard with Bling H20, costing, £30. Bling H2O comes in 750ml frosted bottles studded with sparkling Svarowski crystals. The bling water was earlier meant just for Hollywood celebs and hi-fi socialite circle, but now you can gulp it down all for $50. http://www.blingh2o.com/

The World's Most Expensive Valentine's Day

Exotic orchids from Malaysia, gilded greeting cards, $215,000 perfume with Bacarrat crystals and diamonds, choclate truffles made from rare truffle oil and chocolate. at $2,100 per pound, or the ultimate Patek Phillippe watch, with 38 carats in heart shaped diamonds plus another 260 pear shaped diamonds, for a mere $25 M. What will you be giving your honey this year?

http://finance.yahoo.com/news/the-world-s-most-expensive-valentine-s-day.html

Should I Buy a Home Now?

Tue, 20 Dec 2011 15:07:00 GMT

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.