Naples Area News, Real Estate & Trends
HAPPY THANKSGIVING-Newsletter-November 2010
FOR IMMEDIATE RELEASE Contacts: Mike Hughes, NABOR Media Relations Director, (239) 261-2244 / (239) 263-4218 Marcia Albert, NABOR, Manager of Events & Marketing, (239) 216-4148
PENDING SALES UP, INVENTORY DOWN
Report Shows Median Closed Price Stabilizing NAPLES, Fla.-November 19, 2010
Real estate activity in the Naples area is trending upward according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
“We saw how the third quarter sales were impacted by the end of the homebuyer tax credit and the news of the oil spill, but we are now seeing a resurgence in the marketplace,” stated Michele Harrison, REALTOR with John R. Wood REALTORS®. “The pending sales activity that was missing during the summer is back.”
"The overall pending sales trend when compared year over year shows the market is moving back up,” said John Steinwand, President of Naples Realty Services.
Overall pending sales for the 12 months ending October 2010 increased 11 percent when compared to the 12 months ending October 2009. Overall pending sales increased to 9,400 compared to 8,437.
Phil Wood, President of John R. Wood REALTORS® agrees, “In the $1 million and over price segment, pending sales are up over 40% this year.” The number of available properties decreased 3 percent to 9,044 down from 9,347.
“The bank freeze on foreclosed homes has not scared buyers away, they are still buying properties,” said Steve Barker, Managing Broker of Amerivest Realty.
The 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 closed sales for the 12 months ending October 2010 increased 19 percent with 7,912 sales compared to 6,645 sales for the 12 months ending October 2009.
Single-family pending sales increased 20 percent with 436 contracts in October 2010 compared to 363 contracts in October 2009. Single-family pending sales in the $1 to $2 million category increased 54 percent for the 12 months ending October 2010 with 263 contracts compared to 171 contracts for the 12 months ending October 2009.
Condo pending sales increased 6 percent in October 2010 with 345 contracts compared to 326 contracts in October 2009. Condo closed sales increased 31 percent with 3,897 contracts for the 12 months ending October 2010 compared to 2,964 contracts for the same 12 months last year.
The overall Median Closed Price for the 12 months ending October 2010 showed no change from one year ago, remaining at $180,000. However, there was a 3% overall increase in the median for properties in the price segments above $300,000. “The median closed price continues to stabilize.
For properties under $300,000 the median closed price increased 2 percent and single-family homes median closed price increased 12 percent for the 12 months ending October 2010,” said Jo Carter, President of Jo Carter and Associates.
To view the report, go to http://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 4,000 plus member-customers. NABOR is a member of Florida 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.
When President Obama announced the Home Affordable Modification Program (HAMP) in February of 2009, he claimed it would bring relief to 3-4 million households. Unfortunately, to date, only around 495,900 borrowers have been approved for a permanent loan modification.
The program appears to be a failure. Many homeowners are drawn into the trial modifications but fail to qualify for permanent modifications, which end up leaving them with more outstanding on their loans, less home equity, and lower credit scores.
Edison State College Collier Campus (www.edison.edu) will be offering courses from two bachelor degree areas. Courses offered will be for the Bachelor of Applied Science in Supervision and Management and for the Bachelor of Science in Elementary Education degrees. Open registration for all students begins Nov. 15.
Discover Crayton Cove is a new business association recently formed to promote the many retail stores and services located in Crayton Cove. Crayton Cove is unique, charming, authentic and historic. www.discovercraytoncove.com.
AirTran Airways (www.airtran.com) will start Saturday nonstop service between Fort Myers and Rochester, N.Y., on Saturday. The flights between Southwest Florida International Airport (RSW) (www.flylcpa.com) and Greater Rochester International Airport (ROC) will depart Fort Myers at 10:23 a.m. and arrive at 11:15 a.m.
The Shark Shootout returns to Tiburon Golf Club at The Ritz-Carlton Golf Resort, Naples, on Dec. 8 to 12. Tickets are On Sale Now! Call (888) 66 SHARK or visit www.thesharkshootout.com.
The second annual Shark Shootout 5K, presented by Comcast, returns to Tiburon Golf Club at The Ritz-Carlton Golf Resort, Naples, on Dec. 11 at 7 a.m. Register Today! Call (888) 66 SHARK or visit www.thesharkshootout.com/5k.
New Retail
GadgetEase is a new concept. It buys and sells slightly used electronics. The electronics fall into six categories: home electronics, portable electronics, photography and video, media, computers and video gaming. The new store is located at 4445 Bonita Beach Rd in Bonita Springs. Phone 239-947-3273.
TALBOTS OUTLET OPENS AT MIROMAR its first Southwest Florida location at Miromar Outlets. The store carries women’s apparel, accessories and other fashion merchandise. Talbots Outlet (www.miromaroutlets.com/directory_store.php?sr=230) is located in Suite 303 near the Restaurant Piazza
GolfTEC, a high-tech golf instruction company, is opening another Improvement Center in Naples. The new Improvement Center is scheduled to open Friday and will be located at 6428 Hollywood Blvd. For details, visit www.golftec.com or call (877) 4-GOLFTEC.
STILISTA was opened longtime Naples residents Frank and Laura Rubinelli. It is an upscale beauty salon specializing in hair care, manicures, pedicures and facial waxing. Stilista carries the exclusive line of Kerastase and Unite, luxury hair products. Stilista is located at 9128 Strada Place, Suite 10112. Call (239) 431-5171 to make an appointment. The shop is open Tuesday through Saturday. For more information, visit www.mercatoshops.com or e-mail stilistainc@comcast.net.
Finals Foray, a unique boutique for the home with one-of-a-kind it has opened at 850 Fifth Ave. S. Call 239-434-2212.
Vogue Couture, a designer clothing boutique, has opened at the Mercato at 9108 Strada Place. Call 239-591-0751.
New Restaurants
Loft 59 nightclub is open in the former location of Sway Lounge, 2059 U.S. 41 E. It has had a complete makeover, totally refurbishing the club. The bar is bigger and the state-of-the-art sounds system has been added creating a “super club” reminiscent of those found in Miami or Las Vegas. The club also serve food and late-night menu.
Mr. Jerry’s Tavern will be opening soon at the site of Mr. J’s, 13510 U.S. 41 N., Naples. The restaurant will be a neighborhood tavern with a new kitchen, dishes made from scratch, inside and outdoor bars and dining and large-screen televisions. Information: 596-0875
Chrissy’s restaurant is opening again at its old location at 469 Bayfront Place (next to Roy’s). The restaurant will be open from 8 a.m. to 3 p.m. daily with a menu similar to Chrissy’s at Courthouse Shadows.
Cafe Luna at 467 Fifth Ave. S., Naples, now has a full bar. Information: 213-2212
Naples Ice Cream Factory, featuring homemade ice cream has opened at the Green Tree Shopping Center, 2378 Immokalee Rd. Call 866-974-4792
Blue Agave Tequila Bar & Grill will open in December. It is located in the Towne Centre Mall on U.S. 41 East. Judy Barney and Arturo Perez own the building and also own and operate Arturo’s Italian Restaurant on Marco Island.
Comments(2)