How’s The Naples Market? Waiting For Season And Bumping Along With Flat Prices

One year ago the average Naples property sold for $307,000.  This month we are at $309,000 for a .5% year over year price increase – not the double digit price spikes we saw in past months but indicative of our new “flat price” cycle reported last month.

At the heart of any market is supply and demand coupled with inventory levels. The Naples market inventory increased to 7+ months this period as trailing sales slowed in the summer months and snowbirds returning early placed their homes up for sale.  The numbers are supportive of price increases but we need to see some buyers to knock down supply.

My weekly “walk around the office” tells me business is there – just a little harder to find than last year.  A recent discussion with a county leader tells me new construction may be slightly over built and deals will certainly pressure the resale market in the months to come. Let’s take a look at the latest results in detail and see what it all means.

Year over year median real estate prices for ALL property types were up .5%.  Any price rise is pretty darn good considering a looming national election coupled with Fed decisions, BREXIT, the end of summer season and a strong dollar pricing out some international buyers. Caution signals are still with us and we need to dive deeper into the numbers.

The Lady Chadwick at Useppa

Enjoying the Lady Chadwick and her tour of the Big Sound.

The longer term, big picture looks good for Florida and for Naples. Readers of the blog will know Naples welcomes more year round families, business professionals, and boomers these days – and why not with our fantastic climate, great lifestyles, favorable tax treatments, and statewide budget surpluses.  Natural demand is driving real estate here.

Natural demand – as opposed to speculation – is again at the heart of this month’s numbers.  Even with many market uncertainties people are still buying homes in Naples – in fact 2,771 homes were purchased in the last four months which is down from 3,059 sales at this time last year. Volume slow downs need watching.  Will the upcoming season bring an increase in demand? We will know in the next few months.

Let’s get behind our year over year price increase for ALL property types and understand the details.  Setting aside manufactured homes and focusing solely on single family homes and condos we find single family home prices down this month and condo prices up slightly. As more people move here full time, we will see if single family homes regain their price footing.

Let’s look at price reductions.  Although buyers pay about 4% less than asking price for a listed property right now, the sellers had to work real hard to get there.  Sellers reduced prices from their original position quite a bit this month – 16%+.  That’s a lot of price concession.  Perhaps sellers started out more optimistically – or just threw in the towel – but sellers came down quite a bit before selling.

What about supply? Our readers know supply levels should forecast short-term price trends. Over the last few months we saw a volume slow down coupled with more supply causing inventory levels to climb to 7.07 months. Anything under 12 months should allow for price increases but we need to watch the trend.

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Prices should rise in a market with lower supply levels and decent volume.

Readers of the blog will know prices and trends differ street by street or condo building by condo building. Each month we take a look at Naples real estate market trends in a very detailed neighborhood by neighborhood manner.  Here we go again!
Are the buyers done with the Naples price run up? Maybe for now.

This is a great time to sell Naples property as serious buyers remain in the market – in fact, we closed another on-water property with spectacular views last month above appraised value. We put another property under contract last week and we have a new showing on a fabulous place today. If you are thinking about selling, call us at 239.595.3921. Selling in the early season months may indeed be a great idea.

Another data point to watch – property selling speed slowed further this month. Now it takes 62 days to sell a place (on average) as opposed to 37 days back in May.  This is the slowest selling speed I have seen since October 2014.  Lessons to sellers right now – price it right and if you are not seeing offers or repeat visits in 4-6 weeks you should consider a price reduction. There is also a lesson for a buyer in this. When approaching a property with a long on-market history it may makes sense to get aggressive on the offer price. Watch selling speed trends. All parties can learn from it.

Spiny Lobster %22California spiny lobster%22. Licensed under CC BY-SA 2.5 via Wikimedia Commons - https-::commons.wikimedia.org:wiki:File-California_spiny_lobster.JPG#:media:File-California_spiny_lobster

We say farewell to another great mini-season. ‘Till next year!

A bright spot this month – condo prices. Remember our “canary in the mine” idea? Readers of the blog will know during the last bust, condo prices dropped almost a full year BEFORE the single family home bust. Average condo prices actually popped back up this month for the first time in a while.  So … the canary is chirping and alive and well again.  We will keep watching this one.

Condo inventories are at 6.9 months – supportive of more price increases.  Perhaps we are through with a “normal” condo price adjustment and we are now on firmer footing.  We will see.

Foreclosure rates are up slightly with 22 condos and 36 single family homes now in foreclosure.  Last month we saw the figures at 20 and 25.  Not a big jump and probably a function of the courts and our foreclosure process more than the market.  We will keep an eye on this one.

With the decrease in single family home prices are we in a bubble? Here is a question we get a lot – especially with looming Fed announcements, BREXIT, equity market gyrations, and a strong US dollar knocking out some international buyers.

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Natural demand still finds jaw dropping beauty in the Florida sunshine.

Even with all the commotion we do not think we are in a real estate bubble in Naples. Why? Inventory levels relative to volumes give us a lot of comfort. We do see decreasing volumes with increasing supplies – but no sharp moves yet.  It feels more like a normal market adjustment than a sharp drop but we need to keep watch.  Months of double digit price increases may be wearing out the buyers somewhat.

Will the party end one day? Of course. Perhaps suddenly. This is a boom and bust town. Watch the numbers with us. A few cracks are appearing unevenly in the figures. This is not last year’s market but no bust yet.

Ok, the big market data is interesting but what about the numbers neighborhood by neighborhood ? Our readers know all real estate is local – and the saying holds again this month. Some neighborhoods are fighting higher inventories and others showed real improvement this month. We need to dive deeper into each neighborhood to understand real estate in this beautiful paradise we call Naples. Let’s go … Oh boy, more data!

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Buyers have told us, “I made up my mind to move to Naples as soon as I stepped out on that beach.”

Olde Naples
Our first neighborhood stop is Olde Naples. Who doesn’t like Olde Naples? The “urbans” love to walk everywhere – beach, shops, restaurants with no car or even scooter. But … is real estate selling at these prices? Well, real estate is selling in Olde Naples but at slower rates. Inventories increased to 11.3 months and are approaching equilibrium – where prices move sideways for a while.

Pelican Bay
Pelican Bay also slowed with inventories rising to 8+ months.  Last year at this time supplies were tight at 3+ months and we saw prices climb nicely.  Pelican Bay then experienced nine straight months of inventory build up and now supplies are increasing again. Price appreciation potential is there but with less enthusiasm than last year.

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So thankful for the natural beauty of this place – an antique rose blooming wonderfully in the Florida sunshine.

Windstar
Inventories at Windstar on Naples Bay are up to 9.5 months. We reported last month some realtors encourage their sellers to take their properties off the market for the summer. We disagree with this approach.  How can you well something off the market!  Now these properties are back on the market.  Just as we expected inventories increased with this approach.  There is support for further price increases here.

Crayton Road
The Crayton Road area inventory increased to 10+ months from 8+ months last month. Not bad really considering the area whittled down the inventory from 10 months not too long ago. If volumes hold expect more price appreciation in this beautiful area.

Royal Harbor
The Royal Harbor single family home inventory continues to face challenges. Supplies are better this month at 17+ months from 18+ months last month.  This market may be rebounding due to on water, single family homes, convenience to 5th avenue, a spa within walking distance and an ever-increasing Naples “downtown” footprint – there is a lot to like in this area.

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World-calls, on water living in Naples, Florida. And yes, there are more of these.

The big news for Royal Harbor is the announced plans for the US 41 and Davis Boulevard development. Get ready to hear more on this but if the plans come forth look for Royal Harbor and the whole east triangle to gain in popularity.  The rumor about town at this point looks good for the project.

Port Royal and Aqualane Shores
Port Royal and Aqualane Shores inventories increase to 17+.  After a brief dip this summer below 12 months and better price supports we now see some inventory building.  Expect prices to move sideways or drop here.  One of the most incredible real estate areas in the United States has a lot to offer.

Marco Island
Marco Island inventories increased to 10+ months from 8+ months. For all my dear friends and realtors on Marco who bust my chops on these numbers take heart! – the island is a great place to live. Houses and condos may be less pricey on the island compared to Naples and include incredible boating, golf, tennis and beach lifestyles. Check it out with us – there is a lot to love about Marco Island.

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Marco Island can be a lot of fun, including running your sportfish with friends to an on-water lunch.

What we continue to find interesting on Marco Island is the struggling luxury single family home market – defined as properties above $2,000,000. Many of these properties offer incredible bay views. Inventories increased to 22+ months from 18-19 months but are down from an eye-popping 100+ months  not too long ago. If you like the Island and you are looking for a great place, prices should continue to drop here. The market is adjusting but you could find some real deals here with us.

In addition to our monthly neighborhood analysis we would like to provide a few more points of view to help our sellers and buyers.

The big market dynamic of new construction continues and perhaps we are now overbuilt slightly.  It is tough to capture real data from the developers but the scuttlebutt is we are out over our skis a little too far right now.  New construction eats into the re-sale market and may explain some of the caution signals.

After the bust and the demise of many a builder in the Great Recession, it took a while for the new home builders to bounce back. By bounce back I mean once they were ready to return they still needed to draw up new floor plans to match new market preferences, obtain permits, clear land and build infrastructure, hire the sales teams and build homes.  They have so much momentum now they are finally putting a real dent in the existing home market. It is estimated (and it is only an estimate as these figures are very hard to track) about 50% of all new home sales right now are new construction.

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Feel free to bring your favorite car with you to Naples, you will fit right in.

Now here is the interesting part. Even with the all of the new construction there is still support for price increases in the re-sale market. Not as much support as last month perhaps, but support remains.

A few things sellers need to know. Aggressively priced properties in poor condition are not selling very well.  Who wants to be forced to make 17-20% price concessions with snail like selling speeds? A seller and I reviewed numbers together a while back and found some properties were on the market for more than 200 days! Sellers of homes with slow selling speeds are competing with beautiful new construction and your neighbor’s well priced homes. Don’t get too greedy if you need to sell your home or you may be on the market for a while. Don’t give it away, of course, but price it well and keep it in good condition.

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Buyers better be ready to buy when well-priced properties like this one come on the market – our marketing process helped sell this home for a great price.

Buyers in this market better know their local Naples markets.  Why? Because buyers are competing with other well financed and savvy buyers. Know thy markets! For the buyers, cash is king (a pre-approved financing letter is helpful) but whatever you do, get with a real estate team like ours and learn about the market. In addition, use our online search tool recommendation and be ready to make a same day offer when you find your place. Speed wins here and the old adage “Time Kills All Deals” is in full force in many areas.

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The International Award Winning, Naples Best Addresses Team at Coldwell Banker

Like this story? Join the thousands of others who read our free monthly newsletter or click here for your free copy of our eBook “Understanding Naples Real Estate.”

Like to talk with a human for a change? Why not pick up the phone and catch up with us and let us know how we can help you.  Just give us a call at 239.595.3920 (Nan) or 239.595.3921 (Mark) or 239.285.2038 (David).

All the best,
Nan, Megan, Dave and Mark
Co-Founders Naples Best Addresses
Coldwell Banker

Provided by Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
NaplesBestAddresses.com
Facebook: NaplesBestAddresses
Youtube: http://www.youtube.com/user/naplesbestaddresses?feature=results_main

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No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.

We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier County, The Naples Winter Wine Festival and other important non-profits.

Some of the data related to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.

Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 40 years of visiting and living in Naples.

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Our Favorite Listings

Naples has a little of something for everyone!  Our listings cover North and South Naples, small, cozy homes to large, spacious homes.  On the golf course or on the water.  Check out our favorite listings and let us know when we can set up your own private showing.

Tiburon – Luxury Living in the Ritz Carlton Golf Community

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Enjoy the privacy of Escada Court at the Ritz Carlton Tiburon combining one of the most desirable locations on the 14th hole with this “gate behind the gate” community. A beautiful and unique estate home designed by Stofft Cooney and built by Artisan Associates with marble flooring, open kitchen and expansive design. Complimenting a beautiful interior space, the home opens up into a large lanai with electronic screen enclosures, fireplace, flat screen television and summer kitchen – all perfect for entertaining and capturing Naples outdoor living. The home is conveniently located in North Naples, a short distance to the restaurants and shops at Mercato and Naples beaches. Exclusive and private Naples living convenient to all the Naples lifestyle has to offer. Memberships at the Ritz Carlton Tiburon are available. As one of the best luxury golf resorts in the state, Tiburon features two beautiful PGA-level golf courses which host two major professional golf tournaments annually.

Full Tour: http://tours.napleskenny.com/public/vtour/display/594760

New Construction, No HOA – Under Contract

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This beautiful house is under contract, however, we have more homes like this one that will be listed soon … stay tuned or ask us about them!

This gorgeous 2 bedroom, 2 bathroom builder model was built by the Gebelhoff Group of Companies with all of the bells and whistles. Open floor plan, granite, stainless steel, upgrades galore and so much more. Unique street allows for but does not require business and residential mixed use in same home. Perfect for a small business owner that wants to work out of their home, or anyone just looking for a great house. It could also make for a nice rental or a lease back to the builder may be possible so they can continue to use it as a model. So many options! Two other opportunities are also available on this street from the same builder, or he can build to suit on your lot. Call for more information.

Full Tour: http://tours.napleskenny.com/public/vtour/display/607442

Imperial Golf – Great Location

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Perfect home for entertaining or enjoying family gatherings. Open concept living and dining area overlook the large pool and spa. Quiet neighborhood in North Naples is convenient to beach, shopping and dining. Golf or social memberships at Imperial Golf Club are available, but not required.

Full Tour: http://tours.napleskenny.com/607778

Windstar – Lake Views and High Ceilings

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Enjoy beautiful sunrises over the lake from your lanai and tranquil evenings in a peaceful environment. This 3 bedroom plus a den, 2.5 bathroom condo is located in Windstar – a wonderful base to enjoy all Naples has to offer. Minutes from 5th Ave, the beach, shopping and dining.This two story home has a wonderful wide lot with plenty of room to add an extended lanai or a pool.

Residents of Windstar have access to a daily shuttle boat to Keewaydin Island, a 7 mile barrier island, accessible only by boat.  Memberships to Windstar Club are available, but not required. Amenities at Windstar Club include tennis, Tom Fazio golf course, fitness and dining room overlooking Naples Bay. Discover this paradise on Naples Bay.

Full Tour:http://tours.napleskenny.com/public/vtour/display/539898?a=1

Verona Walk – Fantastic Upgrades and Award Winning Amenities

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Welcome home! Enjoy gorgeous fountain views from your heated pool inside a private screened lanai. Cook for guests in your upgraded kitchen featuring stainless steel appliances and a wide open floor plan. Live worry free with alarm system, hurricane shutters, and manned gate house. Award winning community with tennis courts, resort pool, fitness club, lakeside town center with cafe, salon, performing arts center, bank, post office, and much more! Venture out of your two car garage and you are just minutes from some of the world’s greatest dining, shopping, beaches, and more. Close to the highway and airport. This DiVosta built Capri lives like brand new. Originally a builder’s model in 2004 with all the bells and whistles. Too many upgrades to list. This is the nicest Capri in Verona Walk. Offered with the beautiful furniture negotiable.

Photo Tour: http://tours.napleskenny.com/public/vtour/display/552531

Also, check out our walking tour: https://youtu.be/JBzgjF_HJnc

New Waterfront Construction – Lowest Priced Home of its Type in Naples!

1480 Curlew Avenue Naples FL-large-006-front-1499x1000-72dpiNew waterfront construction. British West Indies styled home with over 3000 sq./ft, four bedrooms, four bathrooms and less than 5 minutes from downtown Naples and the beach. Beautiful water views from the great room with vaulted ceilings, and hardwood floors. Gourmet kitchen with stone counters and stainless appliances opens to great room, giving an expansive feel. Large master bedroom with water views, tray ceilings and two walk in closets. Custom master bath features, stone floors, dual vanities, shower and soaking tub. Great outdoor living on the covered stone lanai with fireplace, kitchen, and heated pool and spa. A boaters dream with a 75 foot seawall on a deep canal just off of Naples Bay, minutes from the Gulf with no bridges.  More photos: http://tours.napleskenny.com/public/vtour/full/363359/

 

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Naples Market Frequently Asked Questions

For the better part of 10 years Naples Best Addresses has been helping people achieve their real estate dreams. We believe that knowledge is power and the more informed a consumer is the better. During all of these years of business a lot of the same questions keep coming up, so we thought why not start a FAQ blog post segment. In this first post we will take on three important, common questions:

Should I wait until season to list my home?

1480 Curlew Avenue Naples FL-large-006-front-1499x1000-72dpiIt’s understandable why a lot of people ask this question. Traditionally in Naples, January-March is the busiest time of year with all of the snow-birds in town. While season is a great time to have your home on the market, the truth is the best time to list is today! As I type this I know it sounds like a cheesy sales line, but it is true. Every year is different with sales. This year our team had a relatively quite season and have been very busy from April through now. Now that fall is here a lot of people are out looking to buy before season as well. One other thing to consider with this is that our market is changing. If you read our “How’s the Market” blog post you will know that our market is beginning to normalize and has slowed down from the 20% plus price increases that brought us out of the ‘08 down turn times. The truth is, in order to sell a home today it needs to be priced well, marketed properly, and shown professionally. Which brings me into our next FAQ question…

 Can we list over market price and see how it goes?

2990 Vanburen Naples FL 34112-print-002-7-Front-4200x2804-300dpiI would not recommend it. The last few years we could list a home 10-20% priced over market and wait the few months for the market to come up and sell it. It depends a little on which neighborhood you are in, but in general in Naples right now that is not the case. In order to force a sale, properties need to be priced aggressively. This means pricing at our just below what the last comparable sale went for, not what other listings that have sat on the market for months and months are stuck at. If you are curious about what your home may go for, ask us today for a complete listing presentation. We can go through all of the market statistics and show the numbers of what the market is telling us to get your home sold. This summer we priced a listing well and it went under contract in just 3 days. You don’t want your home to sit, price it well, and get it sold for the top price the market will bare. If you are already listed and your home has been on the market for more than 30 days without an offer, it is time to drop that price to get it sold before this market starts to turn down any more.

Can we just go look at a few homes before getting pre-approved for financing?

We always recommend getting pre-approved for financing before getting very far into the home shopping process for several reasons. First the obvious one, it is important to know how much home you can afford and what fits into your budget. Naples really does have something for almost everyone, but often buyers have to compromise a little bit in order to buy a place that will work well for them and it is importan2558-escada-court-naples-fl-small-001-2-aerial-666x375-72dpit to know exactly where you stand. Second, good properties sell fast in Naples. If buyers go out and see something they really like it is important to already be pre-approved so they can move quickly and get it before it’s gone. Third, this is a cash town. Most of our buyers are actually cash and don’t finance at all. There is nothing wrong with financing and we work with buyers everyday that are planning financing, but sellers love cash offers. The next best thing is an offer that has a pre-approval from a reputable company. I would never recommend submitting a financed offer without the pre-approval as often they are shuffled to the bottom by the seller.

What are some of your questions about the Naples market? Email us your questions and we will answer them for everyone next month.  You can also learn more about the Naples market by checking out our Naples Ebook here: http://www.naplesbestaddresses.com/offer/

Like this story? Join the thousands of others who read our free monthly newsletter.  We write about the Naples real estate market and the wonderful Naples lifestyle. Sign up here.

 

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How’s The Naples Real Estate Market? Prices Level Off But Supply And Demand Say More Price Appreciation Is Possible

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Staying after remodeling and new home development.

One year ago the average Naples single family home selling price was $300,000 and now average prices are at $310,000 – up slightly but not the go-go market of last year.  At the heart of any market is supply and demand coupled with inventory levels. At the current six month supply level, Naples is still supportive of price increases and remains strong in the historically slow off-season month of August.

There are a few areas of concern but a decent August followed a good July.  My weekly “walk around the office” tells me the business is there – just a little harder to find than last year. New construction continues to carry on OK and traffic is picking up a little early this year. Let’s take a look at the latest results in detail and see what it all means.

Year over year median real estate prices for ALL property types were up 3.33%.  Any price rise is pretty darn good considering looming Fed decisions, BREXIT, summer season, and a strong dollar pricing out some international buyers. Caution signals are still with us however and we need to dive deeper into this.

The Lady Chadwick at Useppa

Enjoying the Lady Chadwick and her tour of the big sound

The big picture looks good for Florida and for Naples. Readers of the blog will know Naples welcomes more year round families, business professionals, and boomers these days – and why not with our fantastic climate, great lifestyles, favorable tax treatments, and statewide budget surpluses.  Natural demand is driving real estate here.

Natural demand – as opposed to speculation – is again at the heart of this month’s numbers.  Even with currency challenges slamming 20%+ of the buyer market, people are still buying homes in Naples – in fact 3,033 homes were purchased in the last four months which is down from 3,398 sales at this time last year. We do not often see volume slow downs here so this is something to watch. Will the upcoming season bring an increase in demand? We will see.
Let’s get behind our year over year price increase for ALL property types and understand the details.  Setting aside manufactured homes and focusing solely on single family homes on condos we find both single family home and condo prices down slightly this month. As more people move here full time we see more demand for single family homes. Some buyers prefer to live outside the gates of an HOA and avoid the fees and rules.

What about supply? Our readers know supply levels should forecast short-term price trends. Over the last few months we saw slow down in volume coupled with more supply causing inventory levels to climb to 6.3 months. Anything under 12 months should allow for price increases but we need to watch the trend. So far so good.

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Prices should rise in a market with lower supply levels and decent volume.

Readers of the blog will know prices and trends differ street by street or condo building by condo building. Each month we take a look at Naples real estate market trends in a very detailed neighborhood by neighborhood manner.  Here we go again!

Are the buyers done with the Naples price run up? Maybe for now.  Let’s look at price reductions and we will gain some confidence. This month sellers came down 9%+ from ORIGINAL asking price to sell their home. Much better. Over the life of some deals we saw figures 15-20%. This means the market – the real market – is trading nearer asking price. Sellers are either “less greedy” or buyers are “more aggressive” or some combination but … we should see volume improve when buyers are sellers are closer together starting out.

This is a great time to sell Naples property as serious buyers remain in the market – in fact we closed another on-water property with spectacular views last month above appraised value. If you are thinking about selling, call us at 239.595.3921. Selling in the summer may indeed be a great idea.

Another data point to watch – property selling speed slowed further this month. Now it takes 53 days to sell a place on average as opposed to 37 days back in May. I am tempted to take this stat more seriously as it is at a two year high. Lessons to sellers right now – price it right and if you are not seeing offers or repeat visits in 4-6 weeks you should consider a price reduction. There is also a lesson for a buyer in this. When approaching a property with a long on-market history it may makes sense to get aggressive on the offer price. Watch selling speed trends. All parties can learn from it.

Spiny Lobster %22California spiny lobster%22. Licensed under CC BY-SA 2.5 via Wikimedia Commons - https-::commons.wikimedia.org:wiki:File-California_spiny_lobster.JPG#:media:File-California_spiny_lobster

We say farewell to another great mini-season. Our last four lobsters met the grill and a nice chardonnay last night. ‘Till next year!

Another market caution this month – condo prices. Remember our “canary in the mine” idea – something we might see forecasting possible challenges? Readers of the blog will know during the last bust, condo prices dropped almost a full year BEFORE the single family home bust. Average condo prices have started to fall these last few months … first $273,000 in January, then we saw $262,00 in February, then $260,000 in March, $257,000 in April, $260,000 in May, $259,900 in June and now we are at $230,000. The canary is starting to sing.

All is not lost however.  Condo inventories did improve over the last few months (things are getting more scarce) and the new inventory levels are more supportive of prices.  So … it looks like a normal adjustment to us. Falling prices tend to increase sales which tend to decrease supply and eventually prices firm up again. We’ll keep an eye on it with you.  If we do not see a bounce up in condo prices in the next few months we will have more to say here.

We saw a  positive condo market sign in another leading indicator statistic last month – foreclosure rates. Some of our foreclosure volume changes are due to the vagaries of our Florida system but the changes are worth looking at nonetheless.  Foreclosed condos dropped to 20 from 25 and are far below the 100+ numbers in the past.  Good news here – stable markets making some adjustments.  No cliff but some concerns at this point.

With all of the single family price increases and a slight pull back in the condo market are we in a bubble? Here is a question we get a lot – especially with looming Fed announcements, BREXIT, equity market gyrations, and a strong US dollar knocking out some international buyers.

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(Natural demand still finds jaw dropping beauty in the Florida sunshine)

Even with all the commotion we do not think we are in a real estate bubble here. Why? Inventory levels relative to volumes give us a lot of comfort. We do now see decreasing volumes with increasing supplies – but no sharp moves yet.

Will the party end one day? Of course. Perhaps suddenly. This is a boom and bust town. But “not yet.” Watch the numbers with us. A few cracks are appearing unevenly in the figures. This is not last year’s market but no bust yet.

Ok, the big market data is interesting but what about the numbers neighborhood by neighborhood ? Our readers know all real estate is local – and the saying holds again this month. Some neighborhoods are fighting higher inventories and others showed real improvement this month. We need to dive deeper into each neighborhood to understand real estate in this beautiful paradise we call Naples. Let’s go … Oh boy, more data!

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Some buyers say “I made up my mind to move to Naples as soon as I stepped out on that beach”.

Our first neighborhood stop is Olde Naples. Who doesn’t like Olde Naples? The “urbans” love to walk everywhere – beach, shops, restaurants with no car or even scooter. But … is real estate selling at these prices? Well, real estate is selling in Olde Naples but at slower rates. Inventories increased to 8.8 months from 6.5 months and price increases may start to take a breather.

Pelican Bay also slowed a bit with inventories rising to 5.08 months from 4.58 months – a level still supportive of price increases. Remember Pelican Bay experienced nine straight months of inventory build up before leveling off two months ago. It seems the adjustments are complete for this micro market for now. Price appreciation potential is there again.

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So thankful for the natural beauty of the place – an antique rose blooming wonderfully in the Florida sunshine.

Inventories at Windstar on Naples Bay are at an enviable 4.73 months.  Be a little careful with data in Windstar.  We learned some realtors encourage their sellers to take their properties off the market for the summer.  We disagree with this approach as sales continue year round in Naples. We expect inventory to increase as sellers return and put their properties back on market. For now it looks like a very good market!

The Crayton Road area inventory also increased to 8+ months from 7.16 months last month. Not bad really considering the area whittled down the inventory from 10 months not too long ago. If volumes hold expect more price appreciation in this beautiful area.

The Royal Harbor single family home inventory continues to face challenges. Supplies are better this month at 18 months from 20+ last month.  This market may be rebounding die to on water, single family homes, convenience to 5th avenue, a spa within walking distance and an ever-increasing Naples “downtown” footprint – there is a lot to like in this area.

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World-class, on water living in Naples, Florida. And yes, there are more of these.

The big news for Royal Harbor is the announced plans for the US 41 and Davis Boulevard development (read more about that here). Get ready to hear more on this but if the plans come forth look for Royal Harbor and the whole east triangle to gain in popularity.
Port Royal and Aqualane Shores inventories increase to 13+ months from 11.71 months  last month.  After a brief dip last month below 12 months and better price supports we now see some inventory building.  Expect prices to move sideways here – perhaps down slightly.  One of the most incredible real estate areas in the United States is now at a great supply and demand level. Wow.

Marco Island inventories improved to 8.4 months from 10 months – a really nice turn and a sign buyers are finding real value on Marco Island. For all my dear friends and realtors on Marco who bust my chops on the numbers here take heart the island just ruined in a great month. Like Windstar, we think a lot of sellers pulled their homes from the market for the summer so, prices are a bit hard to predict on Marco until season arrives. Houses and condos may be less pricey on the island compared to Naples and include incredible boating, golf, tennis and beach lifestyles. Check it out with us – there is a lot to love about Marco Island.

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Marco Island can be a lot of fun, including running your sportfish with friends to an on-water lunch.

What we continue to find interesting on Marco Island is the struggling luxury single family home market – defined as properties above $2,000,000. Many of these properties offer incredible bay views. Inventories are hovering around 18-19 months but are down from an eye-popping 100+ months a not too long ago. If you like the Island and you are looking for a great place, prices should continue to drop here. The market is adjusting but you could find some real deals here with us.

In addition to our monthly neighborhood analysis we would like to provide a few more points of view to help our sellers and buyers.

The new construction boys are busy but existing home sales are running along just fine.
The big market dynamic of new construction continues. New construction is eating into the re-sale market and explain some of the caution signals.

After the bust and the demise of many a builder, it took a while for the new home builders to bounce back. By bounce back I mean once they were ready to return they still needed to draw up new floor plans to match new market preferences, obtain permits, clear land and build infrastructure, hire the sales teams and build homes. They did all that and boy are homes selling. So much so they are finally putting a real dent in the existing home market. It is estimated (and it is only an estimate as these figures are very hard to track) about 50% of all new home sales right now are new construction.

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Feel free to bring your favorite car with you to Naples, you will fit right in.

Now here is the interesting part. Even with the all of the new construction there is still support for price increases in the re-sale market. Not as much support perhaps, but support remains.

A few things sellers need to know. Aggressively priced properties in poor condition are not selling very well. A seller and I reviewed numbers together a while back and found some properties on the market for more than 200 days! Sellers of homes like this are competing with beautiful new construction and your neighbor’s well priced homes. Don’t get too greedy if you need to sell your home or you may be on the market for a while. Don’t give it away, of course, but price it well and keep it in good condition.

Valencia Lakes Pool Home-print-015-12-pool-4200x2804-300dpi

Buyers better be ready to buy when well priced properties like this one come on the market – our marketing process helped sell this home for a great price.

Buyers in this market better know their local Naples markets.  Why? Because buyers are competing in a short supply world with other buyers in some neighborhoods BUT the same buyers may find more amenable sellers in other neighborhoods. Know thy markets! Get with us and we will help you figure it out.
For the buyers, cash is king (a pre-approved financing letter is helpful) but whatever you do, get with a real estate team like ours and learn about the market. In addition, use our online search tool recommendation and be ready to make a same day offer when you find your place. Speed wins here and the old adage “Time Kills All Deals” is in full force in many areas.

The Naples Best Addresses Co-Founders 1:2015

The International Award Winning Naples Best Addresses Team at Coldwell Banker.

Why not pick up the phone and catch up with us and let us know how you are doing? Just give us a call at 239.595.3920 (Nan) or 239.595.3921 (Mark) or 239.285.2038 (David).
Please also consider reading our book “Understanding Naples Real Estate” to get started on a real estate search or just give us a call about things to do in this wonderful place.

All the best,
Nan, Mark and David Goebel, PA’s
Co-Founders Naples Best Addresses
Coldwell Banker
Mark Goebel, PA and Nan Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921 239.595.3920
NaplesBestAddresses.com
Facebook: NaplesBestAddresses
Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main

Like this story? Join the thousands of others who read our free monthly newsletter.  We write about the Naples real estate market and the wonderful Naples lifestyle. Sign up here.
————————————————————————————————
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.

We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier County,The Naples Winter Wine Festival and other important non-profits.

Some of the data related to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 40 years of visiting and living in Naples.

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Our Favorite Listings

August is one of the hottest months here in Florida, so why not enjoy the heat in your own private pool while overlooking the water?  Many of our favorite listings this month can fulfill this dream perfectly. There is a little something for everyone here in Naples. Check  out our favorite listings and let us know when we can set up your own private showing.

Tiburon – Luxury Living in the Ritz Carlton Golf Community

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Enjoy the privacy of Escada Court at the Ritz Carlton Tiburon combining one of the most desirable locations on the 14th hole with this “gate behind the gate” community. A beautiful and unique estate home designed by Stofft Cooney and built by Artisan Associates with marble flooring, open kitchen and expansive design. Complimenting a beautiful interior space, the home opens up into a large lanai with electronic screen enclosures, fireplace, flat screen television and summer kitchen – all perfect for entertaining and capturing Naples outdoor living. The home is conveniently located in North Naples, a short distance to the restaurants and shops at Mercato and Naples beaches. Exclusive and private Naples living convenient to all the Naples lifestyle has to offer. Memberships at the Ritz Carlton Tiburon are available. As one of the best luxury golf resorts in the state, Tiburon features two beautiful PGA-level golf courses which host two major professional golf tournaments annually.

Full Tour: http://tours.napleskenny.com/public/vtour/display/594760

New Construction, No HOA

2990 Vanburen Naples FL 34112-print-002-7-Front-4200x2804-300dpi

This gorgeous 2 bedroom, 2 bathroom builder model was built by the Gebelhoff Group of Companies with all of the bells and whistles. Open floor plan, granite, stainless steel, upgrades galore and so much more. Unique street allows for but does not require business and residential mixed use in same home. Perfect for a small business owner that wants to work out of their home, or anyone just looking for a great house. It could also make for a nice rental or a lease back to the builder may be possible so they can continue to use it as a model. So many options! Two other opportunities are also available on this street from the same builder, or he can build to suit on your lot. Call for more information.

Full Tour: http://tours.napleskenny.com/public/vtour/display/607442

Imperial Golf – Great Location

1844 Imperial Golf Course Blvd-print-001-7-front-4200x2804-300dpi

Perfect home for entertaining or enjoying family gatherings. Open concept living and dining area overlook the large pool and spa. Quiet neighborhood in North Naples is convenient to beach, shopping and dining. Golf or social memberships at Imperial Golf Club are available, but not required.

Full Tour: http://tours.napleskenny.com/607778

Windstar – Lake Views and High Ceilings

2169 Paget Circle Naples FL-print-001-7-front-4200x2804-300dpi

Enjoy beautiful sunrises over the lake from your lanai and tranquil evenings in a peaceful environment. This 3 bedroom plus a den, 2.5 bathroom condo is located in Windstar – a wonderful base to enjoy all Naples has to offer. Minutes from 5th Ave, the beach, shopping and dining.This two story home has a wonderful wide lot with plenty of room to add an extended lanai or a pool.

Residents of Windstar have access to a daily shuttle boat to Keewaydin Island, a 7 mile barrier island, accessible only by boat.  Memberships to Windstar Club are available, but not required. Amenities at Windstar Club include tennis, Tom Fazio golf course, fitness and dining room overlooking Naples Bay. Discover this paradise on Naples Bay.

Full Tour:http://tours.napleskenny.com/public/vtour/display/539898?a=1

Verona Walk – Fantastic Upgrades and Award Winning Amenities

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Welcome home! Enjoy gorgeous fountain views from your heated pool inside a private screened lanai. Cook for guests in your upgraded kitchen featuring stainless steel appliances and a wide open floor plan. Live worry free with alarm system, hurricane shutters, and manned gate house. Award winning community with tennis courts, resort pool, fitness club, lakeside town center with cafe, salon, performing arts center, bank, post office, and much more! Venture out of your two car garage and you are just minutes from some of the world’s greatest dining, shopping, beaches, and more. Close to the highway and airport. This DiVosta built Capri lives like brand new. Originally a builder’s model in 2004 with all the bells and whistles. Too many upgrades to list. This is the nicest Capri in Verona Walk. Offered with the beautiful furniture negotiable.

Photo Tour: http://tours.napleskenny.com/public/vtour/display/552531

Also, check out our walking tour: https://youtu.be/JBzgjF_HJnc

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How’s The Naples Real Estate Market? Very Nice, Thank You! Properties Growing More Scarce and Year Over Year Price Increases Look Good

Despite real estate headlines in the paper regarding a slow down here in Naples, we just do not see it in our numbers.  In fact, supplies are tightening and remain supportive of further price increases.  One year ago the average Naples single home selling price was $375,000 and now it is $440,000.  Summer selling speeds may be a little slower, certainly, but these are great results.

There are a few areas of concern but a strong July followed a strong June again in an uncharacteristic off-season fashion.  Just a few minutes ago I was in a discussion with one of Naples’ top real estate firms and they also state their volumes are up these last couple of months. Summer can be a great time to buy and sell. Let’s take a look at the latest results.

Year over year median real estate prices for ALL property types were up 3.28% (we are still working off of April data due to slow data updates in the NABOR system).  Any price rise is pretty darn good considering BREXIT, summer season, and a strong dollar pricing out some international buyers. Caution signals are still with us however and we need to dive deeper into this.

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Parking a sweet ride under the Naples shade trees.

The big picture looks good for Florida and for Naples. Readers of the blog will know Naples welcomes more year round families, business professionals, and boomers these days – and why not with our fantastic climate, great lifestyles, favorable tax treatments, and statewide budget surpluses.  Natural demand is driving real estate here.

Natural demand – as opposed to speculation – is again at the heart of this month’s numbers.  Even with currency challenges slamming 20%+ of the buyer market, people are still buying homes in Naples – in fact 3,508 homes were purchased in the last four months which is up 2%+ from last month’s figures and follows 10% and 11% increases in the last two periods.  Good volumes – especially increasing volumes – means the market is trading at these price points and real opportunities exist to buy and sell homes efficiently.  Nice natural demand at work.

Let’s get behind our year over year price increase for ALL property types and understand the details.  Looking at some data figures, over the last 12 months we find single family homes jumped 17.33% while condo prices fell 5.49%. How interesting! This could be that more people are living here year round and moving to single family homes or speculation on condo flips has waned or a number of other factors. Just as we suspected and shared with our readers there is a lot of interest in single family homes right now.

What about supply? Our readers know supply levels should forecast short-term price trends. These last few months volumes increased and new offerings stabilized causing another monthly decrease in inventories AND a market more supportive of increasing prices. Nice.

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Readers of the blog will know prices and trends differ street by street or condo building by condo building. Each month we take a look at Naples real estate market trends in a very detailed neighborhood by neighborhood manner.  Here we go again!
The inventory of existing homes is lower at 5.58 months and therefore better than last month’s 5.92 months.  Remember anything less than twelve months inventory + growing volumes = more support for higher prices.

Will the buyers put up with higher prices? Maybe not.  We reported last month sellers came down an average of 16.6% over the property’s market life before the sale was made! This compares to 7.8% in reductions last month. Looks to me like the sellers are making more and more price concessions to move property. But … sales are happening and properties are moving.

This is a great time to sell Naples property as serious buyers remain in the market – in fact we closed another on-water property with spectacular views at the time of this writing, and it closed above appraised value. If you are thinking about selling call us at 239.595.3921.  Selling in the summer may indeed be a great idea.

Another data point to watch – property selling speed slowed to 44 days from 37 days.  We reported this last month and are waiting for new data this month. I would not read too much into this figure as selling speed remains near recent levels and the recent slow down follows two periods of acceleration. I think we are ok for now.

Spiny Lobster %22California spiny lobster%22. Licensed under CC BY-SA 2.5 via Wikimedia Commons - https-::commons.wikimedia.org:wiki:File-California_spiny_lobster.JPG#:media:File-California_spiny_lobster

Naples provides some great lifestyle opportunities – the lobster mini season is in full swing so this guy better watch out!

Another market caution this month – condo prices. Remember during the last bust, condo prices dropped almost a full year BEFORE the single family home bust. Condo prices have started to fall these last few months … first $273,000 in January, then we saw $262,00 in February, then $260,000 in March, $257,000 in April, $260,000 in May and $259,900 June.

It looks like the condo market is finally backing up a bit. Is it our “canary” for bad things to come? Probably not.  Condo inventories did improve over the last few months (things are getting more scarce) and are more supportive of prices.  So … it looks like a normal adjustment to us. Falling prices tend to increase sales which tend to decrease supply and eventually prices firm up again. We’ll keep an eye on it with you.  If we do not see a bounce up in condo prices in the next few months we will have more to say here.

We saw a  positive condo market sign in another leading indicator statistic last month – foreclosure rates. Some of our foreclosure volume changes are due to the vagaries of our Florida system but the changes are worth looking at nonetheless.  Foreclosed condos stayed even at 25 and are far below the 100+ numbers in the past.  Good news here – stable markets making some adjustments.  No cliff.

With all of the single family price increases and a slight pull back in the condo market are we in a bubble? Here is a question we get a lot – especially with BREXIT, equity market gyrations, a strong US dollar knocking out some international buyers and unpredictable Fed policy.
Even with all the commotion we do not think we are in a real estate bubble here. Why? Tightening inventories on increased volumes give us a lot of comfort. If we had decreasing volumes with increasing supplies we would sing a different tune.  So far we have a rational market – no sharp moves yet.

Will the party end one day? Of course. Perhaps suddenly. This is a boom and bust town. But “not yet.” Watch the numbers with us as cracks will appear unevenly in the figures as the next bust approaches.

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Naples is the happiest and healthiest place in the US according to a recent Gallup poll. Beautiful scenes like this one do actually exist here. This is a typical “winter” day.

Ok, the big market data is interesting but what about the numbers neighborhood by neighborhood ? Our readers know all real estate is local – and the saying holds again this month. Some neighborhoods are fighting higher inventories and others showed real improvement this month. We need to dive deeper into each neighborhood to understand real estate in this beautiful paradise we call Naples. Let’s go … Oh boy, more data!

Our first neighborhood stop is Olde Naples. Who doesn’t like Olde Naples? Live in town, walk to great restaurants and the beach and feel part of the small town. But … is real estate selling at these prices? Well, real estate is selling in Olde Naples and in fact are starting to see more room for price appreciation. Inventories are better gain this month at 6.5 vs. 7.75 last month – likely support for further price increases from here.

Pelican Bay is also in good shape with supplies decreasing further to 4.58 from 4.67 months last month – good for price increases from here. Pelican Bay experienced nine straight months of inventory build up before leveling off two months ago. It seems the adjustments are complete for this micro market for now. Price appreciation potential is there again.

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So thankful for the natural beauty of the place – a mango tree in full bloom making fruit by the bushel.

Inventories at Windstar on Naples Bay improved significantly to 2 months from 4.53 months last month.  Be a little careful with data in Windstar.  We learned some realtors encourage their sellers to take their properties off the market for the summer.  We disagree with this approach as sales continue year round in Naples. We expect inventory to open back up in the fall as the sellers put their properties back on market.

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Life at Windstar on Naples Bay can be pretty amazing!

The Crayton Road area inventory may have “crested” at 10+ months a couple of months ago as we are now down to 6.63 from 7.16 months last month. Wow – 10 months to sub 7 months is a nice correction – expect more price appreciation in this beautiful area.

The Royal Harbor single family home inventory continues to face challenges. Supplies increased slightly to 20+ months from 19.43 months last month.  This sub market is showing signs of strength over the last several months as inventories have decreased a bit but we expect to see more downward price pressure here for a while. There is more work to do here but we are headed in the right direction again. On water, single family homes, convenience to 5th avenue, a spa within walking distance and an ever-increasing Naples “downtown” footprint there is a lot to like in this area.

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World-class, on water living in Naples, Florida.

The big news for Royal Harbor is the announced plans for the US 41 and Davis Boulevard development (read more about that here). Get ready to hear more on this but if the plans come forth look for Royal Harbor and the whole east triangle to gain in popularity.

Port Royal and Aqualane Shores inventories increase to 13+ months from 11.71 months  last month.  After a brief dip last month below 12 months and better price supports we now see some inventory building.  Expect prices to move sideways here – perhaps down slightly.  One of the most incredible real estate areas in the United States is now at a great supply and demand level. Wow.

Marco Island inventories are at 10 months – up slightly from 9.25 months last month.  Like Windstar, we think a lot of sellers pulled their homes from the market for the summer so, prices are a bit hard to predict on Marco until season arrives. Houses and condos may be less pricey on the island compared to Naples and include incredible boating, golf, tennis and beach lifestyles.

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Marco Island can be a lot of fun including knocking down a place and building your dream home.

What we continue to find interesting on Marco Island is the struggling luxury single family home market – defined as properties above $2,000,000. Many of these properties offer incredible bay views. Inventories fell to 18 months from 27.67 last month, 34+ months the prior month and from an eye-popping 100+ months a couple of months ago. The luxury single family home market here is finally correcting. If you like the Island and you are looking for a great place, prices should continue to drop here. The market is adjusting but you could find some real deals here with us.

In addition to our monthly neighborhood analysis we would like to provide a few more points of view to help our sellers and buyers.

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The new construction boys are busy but existing home sales are running along just fine.

The big market dynamic of new construction continues. New construction is eating into the re-sale market and explain some of the caution signals.

After the bust and the demise of many a builder, it took a while for the new home builders to bounce back. By bounce back I mean once they were ready to return they still needed to draw up new floor plans to match new market preferences, obtain permits, clear land and build infrastructure, hire the sales teams and build homes. They did all that and boy are homes selling. So much so they are finally putting a real dent in the existing home market. It is estimated (and it is only an estimate as these figures are very hard to track) about 50% of all new home sales right now are new construction.

Now here is the interesting part. Even with the all of the new construction there is still support for price increases in the re-sale market. Not as much support perhaps, but support remains.
A few things sellers need to know. Aggressively priced properties in poor condition are not selling very well. A seller and I reviewed numbers last month and found some properties on the market for more than 200 days! Sellers of homes like this are competing with beautiful new construction and your neighbor’s well priced homes. Don’t get too greedy if you need to sell your home or you may be on the market for a while even in these good times. Don’t give it away, of course, but price it well and keep it in good condition.

1480 Curlew Avenue Naples FL-large-019-pool-1499x1000-72dpi

Buyers better be ready to buy when well priced properties like this one come on the market.

Buyers in this market better know their local Naples markets.  Why? Because buyers are competing in a short supply world with other buyers in some neighborhoods BUT the same buyers may find more amenable sellers in other neighborhoods. Know thy markets! Get with us and we will help you figure it out.

For the buyers, cash is king (a pre-approved financing letter is helpful) but whatever you do, get with a real estate team like ours and learn about the market. In addition, use our online search tool recommendation and be ready to make a same day offer when you find your place. Speed wins here and the old adage “Time Kills All Deals” is in full force in many areas.

The International Award Winning Naples Best Addresses Team at Coldwell Banker.
Why not pick up the phone and catch up with us and let us know how you are doing? Just give us a call at 239.595.3920 (Nan) or 239.595.3921 (Mark) or 239.285.2038 (David).

Please also consider reading our book “Understanding Naples Real Estate” to get started on a real estate search or just give us a call about things to do in this wonderful place.

All the best,
Nan, Mark and David Goebel, PA’s
Co-Founders Naples Best Addresses
Coldwell Banker
Mark Goebel, PA and Nan Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921 239.595.3920
NaplesBestAddresses.com
Facebook: NaplesBestAddresses
Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main

Like this story? Join the thousands of others who read our free monthly newsletter.  We write about the Naples real estate market and the wonderful Naples lifestyle. Sign up here.
————————————————————————————————
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier Count and The Naples Winter Wine Festival.
Some of the data related to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 40 years of visiting and living in Naples.

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Our Naples Traditions

Up North we had some fantastic yearly traditions that we will cherish forever. Thanksgiving at Grandmas, the Chicago Christmas Market and windows at Macy’s, and taking the boat downtown to the Chicago Air Show, just to name a few.  Now that we have lived full-time in Naples for a while, we have had time to establish some fantastic Naples traditions. And I cannot lie, some of our Florida traditions are my favorite!

 

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Florida Lobstering at its finest!

Traditions have been on my mind lately because one of my yearly favorites is almost here! The last Wednesday and Thursday in July are reserved for Lobster Mini Season. It is called “mini season” because it is only open for two days and only to sportsman before the commercial season begins on August 7th. Mini season is a huge boon to the Florida economy, especially the Florida Keys. It is like deer hunting in Michigan where November 15th turns into a massive yearly family reunion in Northern Michigan … except with more sunscreen! This is the time of year that anyone who can get off of work heads down to the beautiful keys to try their hand at catching some fresh Florida lobster while making great memories and traditions with family and friends.  We bring along our scuba and snorkeling gear, lobster nets, and tickle sticks to catch our daily limit of “bugs” alongside hundreds of other boaters in the crystal clear waters. Then, we feast.  Butter, potatoes, corn on the cob, beer, sausage, lemon, garlic and more butter pair well with the star … the lobster. It is an all around great time to enjoy what Florida has to offer.

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Lobster on the grill!

Because it is July, lobster season is in the front of our minds but we have other great traditions, too. We enjoy taking the boat to watch the Fourth of July fireworks set off from Naples Pier, the beginning of season when many of our friends return from up North to escape the cold, and, of course, Christmas. Jimmy Buffett has a Christmas song called “Christmas in the Caribbean” and my favorite line is “We have everything but snow”.  For the record, it does snow every day on 5th Avenue Naples during Christmastime. Two of our favorite Christmas traditions down here are the fantastic Christmas Eve church service at Trinity-by-the-Cove and the great yearly yule log from Mikkelsen’s Bakery. These are just a few things we look forward to every year, from which we cherish the memories and look forward to making new ones with great family and friends!

What are your Naples traditions? If you don’t have any, it’s never too late to start one. There is nothing like throwing any event that starts with the line “First Annual” or just trying something new.

Like this story? Join the thousands of others who read our free monthly newsletter.  We write about the Naples real estate market and the wonderful Naples lifestyle. Sign up here.

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