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?  Our favorite listings this month can fulfill this dream perfectly.  Check them out and let us know when we can set up your own private showing.

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Tiburon – Luxury Living in the Ritz Carlton Golf Community

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.

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

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Verona Walk – Fantastic Upgrades and Award Winning Amenities

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.
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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 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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Our Favorite Listings

Our featured listings this month have water views, are in great communities, and are near the happening spots in Naples!  Let us know if you’d like to see any of these wonderful homes.

Verona Walk – Fantastic Upgrades and Award Winning Amenities

7221 Bellini Way Naples FL-small-009-7-Patio-666x445-72dpi

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.

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

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

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

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

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New 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/

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 Up Slightly On Very Strong Volume.

 

Naples real estate continues to expand into the summer months with another strong showing in June. There are a few areas of concern but a strong June followed a strong May in an uncharacteristic off-season fashion. 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% year over year – slowing from last month’s 8.27% figure. Pretty darn good considering BREXIT, summer season and a strong dollar pricing out some international buyers. Even so, prices are still up year over year.

You might stop reading at this point. After all where else do you see a 3.28%+ return and an opportunity to live in a year round outdoor paradise these days? Caution signals are still with us however and we need to dive deeper into this.

 

 

 

The big picture looks good for Florida and for Naples. Readers of the blog will know Naples welcomes more year round families, business professional and boomers these days – and why not with our fantastic climate, great lifestyles, favorable tax treatments and statewide budget surpluses.  Natural demand folks 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 3,440 homes were purchased in the last three months which is up 10%+ from last month’s figures. Nice natural demand at work.

Let’s get behind our year over year price increase for ALL property types and understand the details. 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 a 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 at 5.92 months is lower and therefore better than last month’s 6.84 months. Less than twelve month inventory + growing volumes = more support for higher prices.

Will the buyers put up with higher prices? Maybe not …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.

Don’t get us wrong. This is a great time to sell Naples property as serious buyers remain in the market – in fact we put another property under contract today at the time of this writing. Over 3,440 Naples properties sold in the last four months. 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. 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 and get ready – we are not too far from lobster mini season.

 

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 and now holding at $260,000 in May and $259,900.

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 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 two months we will have more to say here.

We saw a  positive condo market sign in another leading indicator statistic– 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 and 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.

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 a better this month at 7.75 months vs 8.97 months last month and 11.06 months before that – likely support for further price increases from here.

Pelican Bay is also in good shape with supplies decreasing further to 4.67 months from 5.4 months last month and 6.9 months before that – 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.

Inventories at Windstar on Naples Bay improved significantly to 4.53 months from 7.38 months last month! Some of the improvement was due to sellers throwing in the towel and taking properties off the market. But how can you sell your place that way !?! We think the new market here is great for sellers as there is less to choose from! We should see price increases here but some neighborhoods have an abundance of homes for sale and face selling challenges.

 

The Crayton Road area inventory may have “crested” at 10+ months a couple of months ago as we are now down to 7.16 months from 8.52 months last month and 9.57 months the month before that. Wow – 10 months to 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 tightened to 19.43 months from 26.4 months last month and from 40 months the month before that. This is the sort of market adjustment we were waiting to see as price reductions or expired and withdrawn listings took hold. 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” foot print there is a lot to like in this area.

The big news for Royal Harbor this month 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.

 

Port Royal and Aqualane Shores inventories decreased to 11.71 months and finally support current prices with a 12 month – equilibrium point. Nice to see this.  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 firmed again this month to 9.25 months from 10.49 months last month and support prices increases from here. Houses and condos may be less pricey on the island compared to Naples and include incredible boating, golf, tennis and beach lifestyles.

 

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 27.67 months from 34+ months last month and from an eye-popping 100+ months a couple of months ago. If you like the Island and you are looking for a great place, prices should 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. 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. Well 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.

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.

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 you started on a real estate search http://www.naplesbestaddresses.com/offer/ or just give us a call about things to do here.
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

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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 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 Favorite Listings

Naples has many beautiful communities with wonderful amenities.  Two of our favorite listings this month are in award winning communities. In fact, Windstar was recently named Real Estate Scorecard’s 2016 Best Florida Community of the Year.  Check out the listings below.

Verona Walk – Fantastic Upgrades and Award Winning Amenities

7221 Bellini Way Naples FL-small-001-10-Front-666x445-72dpiWelcome 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. Dazzle your friends with the crown molding, tile floors, lake views, upgraded baths, and central vac. 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.7221 Bellini Way Naples FL-small-009-7-Patio-666x445-72dpi

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

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

 

 

 

Windstar – Lake Views in Award Winning Community

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.

2169 Paget Circle Naples FL-print-008-6-view-4200x2804-300dpiResidents 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. http://tours.napleskenny.com/public/vtour/display/539898?a=1

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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Our Trip to the Dry Tortugas

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All of our gear for the adventure!

Summer is here again!  We love early summer because its our favorite time for boat trips.  The winds typically settle down making for calmer seas and the warm water is ideal for fishing and scuba diving. That is just what we did on our recent trip down to the Dry Tortugas.

The Dry Tortugas are a small grouping of islands 70 miles west of Key West known for its exceptional marine life, clear waters, and Fort Jefferson – the largest masonry structure in the Americas made up of over 16 million bricks.  No wonder the tiny coral island it sits on is slowing sinking! Between the fort, its history and the wildlife surrounding it, there is something for every adventurer.

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The fort and the clear water.

If you haven’t guessed it already, boat and sea plane are the only ways to get to the fort.  The Tortugas have been the most remotely located national park since their inception in 1935. The waters are protected and a massive ecological study has been going on for decades. Be careful to know the rules in the park as some parts are closed to boating entirely, others are no fishing zones, etc. The benefit of all of these protections is the reason we make the trip. You will find some of the best diving/fishing here in the entire world. It feels like your own private paradise.

To be honest, our trip bordered on the extreme. Our boat carried four hardcore fishermen, 75 gallons of extra diesel, and three huge coolers full to the brim with bait and ice. We left at 4AM and trolled the 110 miles all the way to the Tortugas to save fuel and arrive by sunset. The trip down was rougher than anticipated and half of the crew felt sick but we were rewarded with Mahi, tuna, and barracuda. Eating fresh Mahi and watching the red sunset over the fort made it all worth while. The weather for the rest of the trip was also incredible. No rain and slick calm winds and seas.

Image 6-8-16 at 9.53 PM (1)Up at the crack of dawn the next morning, we enjoyed a delicious egg and bacon breakfast on our way out to the fishing grounds. As soon as we put our lines in the water, we were feeling the bites and  limited out on yellow tail snapper in under 3 hours. That’s 40 of my favorite eating fish just in the morning. We then switched our attention to some spearfishing. Diving in the crystal clear waters on giant ledges, humps, and coral reefs was exceptionally beautiful. I speared the largest hogfish I have ever seen at almost 30 inches. We then headed back to explore the fort and stretch our legs, after that we enjoyed a seafood feast, some shark fishing, and deep sleep.  The next day included more diving, fishing, and fresh seafood.  The following morning, we ran the boat home in under 5 hours to clean up and filet a serious amount of fish. Even after eating as much fresh seafood as we could the entire trip, we still ended up with 40 snappers, 5 groupers, and 5 hogfish to share with family and friends. After a couple of days of catching up on sleep I think we are already excited for next years trip! It doesn’t get much better than this.

We have our next big trip to the keys planned for the end of July for some lobstering and Mahi fishing.  We can’t wait to tell you all about it.  See you on the water!

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