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Report Shows Increase in Naples Florida Home Sales

 INVENTORY DECLINES 18.5 PERCENT

NAPLES, Fla.-July 15, 2011- The housing supply in the Naples area has had a sharp decline during the past 12 months, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

“Although the inventory has been consistently decreasing since November of 2008, the percentage decline of 18.5% during the past year is indicative of the rapidly escalating market,” said Brenda Fioretti, NABOR President and Managing Broker of Prudential Florida Realty.

Overall home sales continue a steady increase, resulting in the continuing reduction of available inventory. Overall pending sales increased three percent in the second quarter of 2011 with 2,879 contracts compared to 2,807 contracts in the second quarter of 2011. The Naples Beach geographic area saw the most activity, where pending sales increased 23 percent with the posting of 537 contracts in the second quarter of 2011 compared to 435 contracts in the second quarter of 2010.

“The largest increase in pending sales for the second quarter of 2011 is in the Naples Beach area. This area continues to improve and as the volume of inventory declines it’s creating urgency for the serious buyer to purchase now, before the best properties disappear,” said Steve Barker, Supporting Broker with Amerivest Realty.

According to Phil Wood, President of John R. Wood REALTORS®, “Tear down sales should begin increasing because of the new construction shortage and the volume of sales activity in the Naples Beach area.”

Available properties declined to 7,208 at the end of the second quarter of 2011, an 18.5 percent drop from the 8,845 available at the end of the second quarter of 2010.

“The reduction in inventory and available properties that we are seeing in the resale market will encourage Builders to step up their new production to meet this demand,” said Kathy Zorn, Broker/Owner of Florida Home Realty.

The second quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

- Overall pending sales for the 12 months ending in the second quarter of 2011 increased 6 percent with 9,950 contracts compared to 9,364 contracts in the second quarter of 2010.

- Single-family home sales for the 12 months ending in the second quarter of 2011 increased 5 percent with 5,127 sales compared to 4,881 sales in the second quarter of 2010.

- Single-family home sales in the $2 million and above category increased 56 percent with 64 sales in the second quarter of 2011 compared to 41 sales in the second quarter of 2010.

- Condo pending sales increased 6 percent with 1,383 contracts in the second quarter of 2011 compared to 1,308 contracts in the second quarter of 2010.

The June report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

- Overall home sales in the $1 million to $2 million price category increased 21 percent with 41 sales in June 2011 compared to 34 sales in June 2010.

- Single-family pending sales in the $2 million and above price category increased 100 percent in June 2011 with 22 contracts compared to 11 contracts in June 2010.

- Condo sales saw a 7 percent increase with 381 sales in June 2011 compared to 3256 sales in June 2010.

"The high end of the market continues to strengthen as pending and closed sales increase

in the $1 million and above price categories,” said Wes Kunkle, Broker/Owner of Kunkle Realty.

Condo Sales Up 36% over Last Year! (Click Full Screen)

Click here to download:
Newsletter%20DF%20SWFL%20Mar2011.pdf (1.94 MB)
(download)

Featured Home in Grey Oaks, Naples Florida

 
Elegance and Tradition Live in Naples. Naples Lives Here
Torino B Study
Torino B

2079 Torino Way - $1,649,500

 

 

Beds: 3 plus Den
Baths: 3 Full plus 1 Half
Sq. Ft.: 3,140 sq. ft. 

 

 

Stunning Torino "B" Model exquisitely furnished with options galore. This three bed-room plus study, three and one half bath villa overlooking incredible lanai and private landscape area. 15 ft. tray ceiling in foyer, 16 ft. double-tray ceiling in living room. Family room with wall of 10 ft. tall sliding glass doors opening to covered lanai. Guest suites with walk-in closets and full baths, featuring tiled wet areas and marble vanities. Gourmet kitchen with oversized island, custom wood cabinetry and granite countertops, top-of-the-line professional series appliances separate pantry and butler's pantry. Double door vestibule entry for enhanced privacy to master suite. Mediterranean architecture with extensive use cast stove trim. Luxury estate living with villa convenience.

 
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30 Year Interest Rates Hit 40 Year Low

NEW YORK – Jan. 7, 2011 – Rates on fixed mortgages dipped this week after rising steadily over the last two months.

Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 4.77 percent from 4.86 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year loan slipped to 4.13 percent from 4.20 percent. It reached 3.57 percent in November, the lowest level on records starting in 1991.

Rates have been rising since November. Investors have shifted money out of Treasurys and into stocks. Many expect the tax-cut plan will fuel economic growth and increase inflation. Yields tend to rise on inflation fears.

Mortgage rates tend to track the yield on the 10-year Treasury note. Those rates have been fluctuating in recent weeks.

Low mortgage rates did little to boost home sales last year and higher rates now could hamper a robust recovery.

The number of borrowers who applied for a mortgage in December was 10 percent below the same month in 2009, according to Capital Economics. Refinance activity has dropped off 44 percent since rates hit their lows. The number of purchase applications has been rising along with sales, but last year’s sales pace was shaping up to be the slowest in 13 years.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a single day.

The average rate on a five-year adjustable-rate mortgage slipped to 3.75 percent from 3.77 percent. The five-year hit 3.25 percent last month, the lowest rate on records dating back to January 2005.

The average rate on one-year adjustable-rate home loans fell to 3.24 percent from 3.26 percent.

The rates do not include add-on fees, known as points. One point is equal to 1 percent of the total loan amount. The average fee for the 30-year and 15-year loans in Freddie Mac’s survey was 0.8 point. The average fee for the five-year ARM was 0.7 point, and the fee for the 1-year ARM was 0.6 point.
AP Logo Copyright 2011 The Associated Press, Janna Herron (AP Real Estate Writer). All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Florida Existing Condo Sales Rise in November

ORLANDO, Fla. – Jan. 3, 2011 – Sales of existing condominiums in Florida rose 11 percent in November, with a total of 5,411 condos sold statewide compared to 4,860 units sold in November 2009, according to the latest housing data released by Florida Realtors®.

The statewide existing condo median sales price was $88,200; in November 2009, it was $104,500 for a 16 percent decrease year to year. However, November’s statewide existing condo median price was, month-to-month, 7 percent higher than the statewide existing condo median of $82,400 in October.

Meanwhile, in the year-to-year comparison for existing home sales, a total of 11,900 single-family existing homes sold statewide in November compared to 13,961 homes sold in November 2009 for a decrease of 15 percent.

Florida’s median existing-home sales price in November was $132,700; a year earlier, it was $139,300 for a decrease of 5 percent. The median is the midpoint; half the homes sold for more, half for less.

In a separate report, the U.S. Commerce Dept. announced that sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.

The November improvement in new-home sales was driven by gains in two regions. The South, which is the nation’s largest housing market, posted a 5.8 percent gain, while the West showed a 37.3 percent rebound from the previous month. Meanwhile, declines of 26.7 percent and 13.2 percent were registered in the Northeast and Midwest, respectively.

The inventory of new homes for sale fell to 197,000 units in November, marking the first time in 42 years that this measure has fallen below the 200,000 level. This amounts to an 8.2-month supply at the current sales pace.

 © 2011 Florida Realtors®

U.S. escapes major hurricanes for 5th straight year

MIAMI (AP) – Dec. 1, 2010 – The Atlantic hurricane season ends Tuesday, going down as one of the busiest on record with extreme weather ravaging Haiti, Mexico and elsewhere, but sparing the U.S. coastline a major hurricane for a fifth straight year.

U.S. forecasters are wondering if America can make history and extend its luck into 2011. If so, it would be the first time ever that the U.S. escaped a major hurricane for six years.

“That would be a record I would like to break,” said Dennis Feltgen, a spokesman for the National Hurricane Center in Miami.

All told, 19 named storms formed in the Atlantic, tying with the 1887 and 1995 seasons for third highest on record. Twelve became hurricanes, tying with the 1969 season for the second highest on record.

In the U.S., Texas suffered the worst of the tropical weather.

Flooding spurred by Tropical Storm Hermine was blamed for the deaths of at least seven people in Texas. Hurricane Alex damaged or destroyed more than 300 homes in Texas and caused an estimated $42 million in damage to infrastructure.

Aside from that, Tropical Storm Bonnie sent crews working to stop the flow of oil from a blown-out rig in the Gulf of Mexico into a fury. And Hurricane Earl brought flooding to North Carolina’s Outer Banks and some rain to Cape Cod, but little damage.

“Fortunately most storms avoided the U.S.,” said Jack Hayes, director of the National Weather Service. “You could say the season was a gentle giant.”

Not so elsewhere, though.

Hurricane Tomas killed 14 people in St. Lucia and at least eight in Haiti. Hurricane Alex caused flooding that killed 12 people in Mexico. Hurricane Igor knocked out power to half of Bermuda but spared the country major damage or injuries.

A persistent low-pressure system through the height of hurricane season is credited with the U.S. escaping major harm. The western edge of the high-pressure system that drove tropical weather from the coast of Africa was eroded by the low pressure, and ultimately helped propel it away from the U.S. shore.

“That’s not an unusual pattern at all,” Feltgen said, “and we’re fortunate that it was in place at the height of the season.”

The last major hurricane of Category 3 or stronger to hit the U.S. was Wilma in 2005.

Online: National Hurricane Center: http://www.nhc.noaa.gov/

Copyright © 2010 The Associated Press, Matt Sedensky.

Club's Success Creates Limited Slip Availability!

 

October 2010
Club's Success Creates Limited Slip Availability
 
We're pleased to announce that Hamilton Harbor's membership roster has grown to more than 175 members in just two years with 128 boats now being stored in our boathouse.  Due to this success, we've recently sold out of 30' dry slip memberships and are experiencing limited availability of other popular slip sizes, especially 35' slips. 
The price for a 35' slip membership will therefore increase by 10% beginning January 1st, making now the best time to become a slip member!  In addition to avoiding the price increase, you'll receive three months free dues.  Please call Membership Director Valerie Pike at 239-775-0506 for more information.      

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HH Chef Cultivates Culinary Skills with Star Chefs
 
 
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L to R: Thomas Keller with HH Executive Chef Billy Hanzalik


Hamilton Harbor’s own Executive Chef Billy Hanzalik just returned from the 2010 International Chef’s Congress (ICC) where he cultivated his culinary skills with the likes of Thomas Keller of The French Laundry, part of our efforts to ensure HHYC members enjoy the best waterfront dining in Naples. The ICC is a three-day culinary symposium where more than 70 of the world’s most influential and innovative chefs and sommeliers, including Albert Adria of Inopia Classic Bar and Dan Barber of Blue Hill, present the latest techniques to their peers.

“Being at ICC just reinforced my belief that food should be prepared simply so that it can speak for itself,” said Billy. “It also reminded me that a chef’s passion for food is just as important to his dishes as the ingredients themselves.”
To get a taste of the culinary creations Chef Billy cooks up daily for HHYC members, click here! 

 

 

 

 


Coming Soon to HHYC
 

Mochi_Craft_44_Dolphin

The newest and finest vessels from yachts to backwater fishing boats will be cruising into our harbor on Saturday, November 20th for the 3rd Annual Hamilton Harbor Yacht Club In-Water Luxury Boat Show.  Don’t miss this invitation-only event that also features the best food and drink on the bay...click here to preview the boats and get your name on the guest list!  

 

And the Winner Is...
 

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The Collier Building Industry Association recently selected Hamilton Harbor Yacht Club to receive the 2010 Sand Dollar Award for Best Clubhouse.  The old Florida style clubhouse sits waterfront on Naples Bay.  It's a place where members can truly kick back and relax...jackets are never required...but still enjoy the highest standards of quality and service.  

 

HH Fuel Dock OPEN

The Hamilton Harbor Fuel Dock will remain OPEN during Bayview Park's renovation the next few months. So stop by while you’re on the water for fuel, bait, drinks and snacks!

 

 

 

 

 

 

 

 

 

 

 


Pool Home with Lake Views in Naples Florida-Village Walk

(download)

 

Poll Question about the BP Oil Spill

Regarding the BP Oil spill. Did you or anyone you know delay buying or cancel your plans to buy real estate in Naples and or SW Florida?

Mark William Simoff
Mark W. Simoff
Agent
Naples, FL

I'm interested to know how the BP oil disaster affected you if you were originally thinking about buying, or selling real estate in the Naples and SW Florida region. Now that it is capped, what are your thoughts. Are you now ready to move forward? For the record, here in Naples, we were not affected. There was never any oil found on any of our beaches. I'd really be interested to hear from you, especially if you are from out of town.  Feel free to comment below or to email your answers to me directly at MSimoff@yahoo.com.

Naples Real Estate News for October 2010 (Click Full Screen to Enlarge)

Click here to download:
Naples Real Estate October 2010 Newsletter.pdf (918 KB)
(download)

Subscribe to my blog!  For more real estate information visit http://www.marksimoff.com.

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