Newsletter-October 2009  

Naples Area News, Real Estate & Trends  

 SUMMER SALES UP 96 PERCENT  

Report Shows Inventory Declines 14 Percent  

NAPLES, Fla.-October 16, 2009-Summer was an unusually strong selling period, 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). 

The Naples area housing market continues to show steady increases in both pending and closed sales in the third quarter of 2009. Pending sales increased to 2,570 contracts in the third quarter of 2009 compared to 1,314 contracts in the third quarter of 2008. 

"In the third quarter of 2009, the Naples area is seeing an overall increase of pending sales in all geographic areas. Showings continue to remain strong, as buyers take advantage of the unique opportunities in today's market," acknowledged Mike Hughes, Vice-President of Downing-Frye Realty. 

The available inventory decreased 14 percent in the third quarter of 2009 to 9,209 compared to 10,658 in the third quarter of 2008. 

The third 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 under $300,000 saw a 126 percent increase with 1,917 contracts in the third quarter of 2009 compared to 849 contracts in the third quarter of 2008. 

Single-family homes sales increased 87 percent with 1,488 sales in the third quarter of 2009 compared to 795 sales in the third quarter of 2008. 

The overall median closed price decreased 30 percent to $176,000 in the third quarter of 2009 from $250,000 in the third quarter of 2008. 

The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold. It should be noted that in any given period the median could vary greatly if there is an anomaly, a single sale that is significantly higher or lower than other properties in the area. 

In the September report, compiled by NABOR, overall condo pending and closed sales increased in all geographic areas. 

"Condo sales continue a steady climb, as pending sales increased 159 percent with 350 contracts in September 2009 compared to 135 contracts in September 2008. Closed sales also saw a double digit increase in September, as sales rose 60 percent compared to the same month last year," stated Jo Carter, President of Jo Cater & Associates. 

"September marks the sixth consecutive month of an increase in pending sales in the $500,000 to $1 million category," stated Bill Coffey, Managing Broker of Coldwell Banker. "This indicates that the high end market is returning."  

The median closed price for properties excluding the under $300,000 section of the market decreased only 6 percent to $525,000 in September 2009 from $557,000 in September 2008. 

The September 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 home sales saw a 107 percent increase with 848 contracts in September 2009 compared to 410 contracts in September 2008. Properties under $300,000 saw a 142 percent increase in pending sales with 645 contracts in September 2009 compared to 266 contracts in September 2008. 

Single-family pending sales saw an 82 percent increase with 497 contracts in September 2009 compared to 273 contracts in September 2008. 

To view the entire September and third quarter report, go to www.Naplesarea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of  REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.

•·        Naplesarea.com/ is the new website designed to make buying and selling real estate in the Naples area much easier.  No other consumer real estate site offers real-time information like Naplesarea.com does.  This new website also contains tax records to school addresses.  Try it today!

•·        Naples police reports 9 percent decrease in crime.

•·        COLLIER COUNTY: The final phase of work is underway on the Interstate 75 widening project as crews have begun laying the final layer of asphalt.  The project is nearly a year ahead of schedule.  Drivers can expect smooth rides on the newly laid asphalt. The final portion of the project is expected to come to an end by the holidays.

•·        Naples realtor pleads guilty to an $11 million dollar, multi-state mortgage fraud.  She will be sentenced in January 2010.  Finding an honest realtor is important if you are buying or selling real estate.  Referrals from your family or friends is one of the best ways to protect you from a realtor whose priority are themselves first and their clients second.

•·        Want to come to Naples?  LaPlaya Beach & Golf Resorts is offering rates starting at $219 per night that include a resort credit, deluxe accommodations and complimentary resort fee and valet parking through December 17^th.  The hotel is located on the ocean at 9891 Gulf Shore Drive.  Information and reservations:  800-237-6883. 

•·        The Ritz-Carlton Golf Resort has received Golf Digest's top rating among Florida golf resorts in the magazine's seventh annual survey.  The resort was ranked by Golf Digest as the No. 1 golf resort in Florida, and No. 32 out of the top 75 golf resort in North American and the Caribbean.  It has been named one of the "Top 75 Golf Resorts" every year since opening in 2002.  Information:  (239) 593-2000 or   www.ritzcarlton.com/

•·        Stone Crab season opened October 15^th!  Who doesn't love them?  In order to assure the continued survival of the species: Only one claw may be removed so the crab can defend itself. Egg bearing females are not allowed to be declawed. The crabs are captured in baited traps. No spears or hooks are allowed. Four inches from the first joint to the tip is the minimum legal size, that's about two ounces. A colossal can weigh 25 ounces or more. The season runs from October 15th to May 15. The claws make up half the weight of the whole crab, they are removed by carefully grabbing from the rear and twisting. The crab is returned to water and the claw regenerates. It takes between 12 to 24 months to reach legal size again. In 1963 stone crabs cost 30 cents a dozen wholesale.

•·        The Marco Island Marriott Resort bar has received an amazing makeover.    The hotel has dropped $2.5 million into the effort, soaring ceiling beams, an internally lit onyx bar top, and a floor-to-ceiling fish tank stocked with live jellyfish.  There are motorized sun shades and a 36-foot diameter, 10-foot tall jellyfish tank!

The bar has twin flat screen TVs that descend from the ceiling and pivot to show the big game, then retract back into recessed niches so as not to detract from the modernistic, freeform wooden ceiling beams designed to evoke mangrove roots.

Just behind the glowing onyx bar surface, a stainless steel ice trough will be chilled to the point where snow forms on it, the better to keep the customers' drinks cold. Even the floor is high tech, consisting of 47,000 individual pieces of end-grain hardwood coated with four coats of sealer. Expanded seating - they went from 55 seats to 119 -includes several "communal tables," six-tops at bar height, to give more customers the feel of being at the bar. Wi-fi and outlets for your laptop are available too.

Called Korals, the lobby bar is just upstairs from the kitchen of the hotel's premier dining room, Kurrents. Selections include grilled Gulf shrimp with peanut Asian slaw and tomato-ginger chutney, crab cakes with grain mustard sauce, leeks, roasted corn and peppers, and flatbread pizza from the brick oven at Kurrents.

In addition, the lobby bar will offer a complete lineup of sushi, including sashimi, nigiri and rolls, prepared right at Korals' new sushi bar.

Specialty drinks will include the X-rated martini, with blood orange and mango-infused vodka, and the classic whiskey sour, with Maker's Mark, fresh lemon and simple syrup.

In one more gee-whiz touch, all the liquor bottles disappear behind a screen when Korals is not open for business. Hours are from 4 p.m. to midnight, seven days a week.

Korals joins Kurrents, Tropiks, Quinn's on the Beach, Pazzi's, the Tiki Bar, and the Café San Marco coffee shop to provide a variety of options for eating and drinking at the Marco Island Marriott Resort.

•·        Freedom Park has opened at the corner of Golden Gate Parkway & Goodlette-Frank Rd. on the north side of Orion Bank.  Freedom Park is a $31.5 million dollar park sitting on approximately 50-acre natural water quality treatment site that provides flooding relief and advanced treatment of storm water runoff from the Gordon River basin.  It has a boardwalk for visitors to amble through the park while seeing many varieties of flora and fauna indigenous to Florida.  The park also has a 4,500 square foot park center for learning, etc .  The park is the future site of the Collier County Freedom Memorial, which will pay tribute to the men and women who have sacrificed their lives in service to our country and the victims of 9/11. 

•·        John Mariani, food and travel correspondent for Esquire Magazine has chosen Sea Salt as one of the 20 best new restaurants of 2009.  The restaurant is at 1186 Third Street South.  Information and reservations:  239-643-7258. 

New Retail      

Attention golfers!  The PGA Superstore will open across the street from the Coastland Center mall on U.S. 41, in the coming months.  It will be located in the form Linens & Things store.  According to the National Golf Foundation, the Naples area is consistently among the top places to play with more holes per capita than any other Florida location. 

Beyond Motion is Naples' first eco-friendly, integrated movement studio.  Beyond Motion is designed to incorporate mind and body based fitness, into the world of sports and athletic performance.  Classes include pilates mat and equipment, yoga, zumba, and nia, as well as sports conditioning and strength conditioning.  Private or semi-private sessions are available.  It is located at 11985 U.S. 41, Suite A.  Information:  239-254-9300.  www.go2beyondmotion.com/ 

Want a really nice place to kennel your dog?  Well, why not try the Wigglebutt Inn?  It is new and is located at 5400 Jaeger Road, Naples.  It is a cage less daycare and a place to board that is not only safe, clean and comfortable, but fun for your pet!  239-592-9664 or www.Wigglebuttinn.com

Spectacles, a locally owned family business, made its debut in approximately 1,000 square feet located adjacent to GiGi's at the Mercato. 

New Restaurants 

Falafel Grill has opened at 2075 Pine Ridge Road.  Yes, you guessed it:  a kabob and Middle Eastern place that's perfect for lunch or dinner. 

Bravo Cucina Italiana has opened at the Mercato.  Their concept is positioned between fine dining and causal chains.  For information call 239-514-0042.

Update on Listings, Pending Contracts, and Closed Sales for September, 2009 vs. 2008:

Bonita Springs & Estero Areas:

Naples Area:

Source:  Naples Area Board of Realtors Multiple Listing Service 

CHECK OUT THIS COMMUNITY 

Pelican Bay, one of Southwest Florida's most heralded residential communities, represents the ultimate Naples lifestyle in a gorgeous setting of beaches, lakes, parks, golf courses and nature preserves. Located along an almost three-mile stretch of one of the finest beaches in the world, this Gulf of Mexico community is home to approximately 85 distinct and luxurious residential enclaves, totaling approximately 14,000 residences. 

The 85 communities that comprise Pelican Bay have a price range for most everybody. 

•·        Low-Rise condominiums are priced between $325,000 to $1,150,000.

•·        Single Family Homes are priced between $890,000 to $$6,300,000.

•·        High-Rise condominiums range in price from $429,000 to $9.5 million.

Pelican Bay is west of U.S. 41, lying between Pine Ridge Rd. and Vanderbilt Beach Rd. in North Naples.  Shopping, dining, Naples Art Museum and the Philharmonic Hall for the Performing Arts are all located nearby.  

If you are interested in buying in Pelican Bay, please give me a call at 239-248-6690. 

THANK YOU 

Thank you Dr. Jay Lang for referring his friends to me.  Thank you to Flora Schultz for referring her friends to me too. 

SOUTHWEST FLORIDA TRIVA: 

Before Naples beaches were packed with tourists, Naples Hotel was the place to be.  The 20-room hotel was built in 1888 by the Naples Company, of native pine.  (It was located in the parking lot area of Tommy Bahamas'.)  For $3 per day for room and board, you stayed on the second floor in one of 14 bedrooms, complete with chamber pot, and washstand, bureau and small table.  (The third floor was the servant's quarters.)  On the ground floor, there was an office where the manager, Mr. Brockman, would greet you, a large parlor, dining room and card room.  When the grand opening was held on January 22, 1889, 20 guests attended, including Rose Cleveland, sister of President Grover Cleveland, who signed the register first. The register recorded not only guests, but also the daily temperature, birthdays, and the type and number of fish caught.