Jim's June 2011 Newsletter-Naples, FL
Market Watch:
FOR IMMEDIATE RELEASE
Contacts: Brenda Fioretti, NABOR President, (239) 595-6219
Marcia Albert, NABOR Director of Marketing, (239) 216-4148
SINGLE FAMILY HOME MEDIAN CLOSED PRICE JUMPS SIX PERCENT
Report Shows Overall Inventory Declines 14 percent
NAPLES, Fla.-June 17 2011- Momentum is picking up and summer is emerging as a season of strong sales 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 overall available inventory decreased to 7,705 properties in May 2011 down from 9,006 properties in May 2010. “The decrease in inventory is having a positive effect on overall prices and is driving the median closed price up,” said Steve Barker, REALTOR® with Amerivest Realty.
The median closed price for single-family homes for the 12 months ending May 2011 increased 6 percent to $210,000 compared to $199,000 for the 12 months ending May 2010. The overall median closed price for single-family homes increased 15 percent to $242,000 in May 2011 compared to $210,000 in May 2010.
“With its strong market and rising prices, Naples is the exception to the two-thirds of the country experiencing real estate challenges, just as predicted by Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS®,” said Phil Wood, President of John R. Wood REALTORS.
The May 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 increased 8 percent in May 2011 with 955 contracts compared to 887 contracts in May 2010.
Overall closed sales increased 4 percent in May 2011 with 838 sales compared to 803 sales in May 2010.
Single-family home pending sales increased 8 percent in May 2011 with 515 contracts compared to 477 contracts in May 2010.
Condo sales increased 9 percent with 450 sales in May 2011 compared to 412 sales in May 2010.
According to Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty, “The increase in sales is found in the traditional market, not short sales or foreclosures which now make up less than 30 percent of the properties sold.”
“For the 12 months ending May 2011, condo sales increased 19 percent and the $1 million to $2 million category had an astounding increase of 164 percent, with 18 more units sold for the 12 months ending May 2011 than in the 12 months ending May 2010,” said John Steinwand, President of Naples Realty Services.
To view the entire report, visit www.NaplesArea.com
Nearly three out of four American voters believe that it is reasonable and appropriate for the federal government to provide tax incentives to promote homeownership—a sentiment that cuts across partisan and regional lines across the country, according to a recent poll conducted on behalf of the National Association of Home Builders (NAHB). Further, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive.
SWFL FORECLOSURES DROP IN MAY
Foreclosure activity in Southwest Florida fell significantly in most areas, according to figures released today by RealtyTrac. Lee had 1,753 homes in foreclosure action, or one in every 208 houses, a decrease of 5.35 percent compared with April 2011 and a drop of 50.98 percent over May 2010. Despite the decline, Lee County posted the top foreclosure rate in Florida. Collier County had 277 homes in foreclosure, or one in every 701 housing units. This is a decrease of 22.84 percent over last month and 77.61 percent compared with May 2010.
Naples Ranked 7th Most Coveted by International Buyers.
Here is the Top Ten:
1. Los Angeles
2. New York
3. Cape Coral, Fla.
4. Fort Lauderdale
5. Las Vegas
6. Miami
7. Naples, Fla.
8. San Francisco
9. Fort Myers, Fla.
10. Miami Beach
(Source: Trulia.com)
Naples Area Happenings:
Collier County Florida Leads Nation in Life Expectancy, according to the Institute for Health Metrics and Evaluation, IHME, at the University of Washington in Seattle. Collier women live the longest in the nation, with an average life expectancy of 86, which is better than France, Switzerland and Spain.
SUCCESSFUL MEETINGS HONORS NAPLES BEACH HOTEL
The Naples Beach Hotel & Golf Club
(/) received the Pinnacle Award for 2011 from Successful Meetings magazine. This marks the eighth consecutive year the resort has received the honor. The award is given only to hotels and resorts that represent the highest standards of excellence. The award is determined by votes from corporate and association meeting planners. Selections were based on overall service, meeting rooms and equipment, recreation facilities, quality of food and beverage, exhibit space, accessibility and social consciousness. The winning hotels and resorts will be recognized in the August 2011 issue of the magazine.
ACE Group Classic Champions Tour heads to Twin Eagles for its 25th anniversary. The Champions Tour is part of the PGA providing past stars of the PGA to continue their playing careers once they turn 50 years old. The ACE Group of Companies has been its title sponsor since 1998.
The New Judge S. S. Jolly Bridge to Open by End of June. The old bridge will be for northbound traffic and the new one will handle southbound traffic onto Marco Island. The purpose of the $25.5 million federal stimulus project is to improve traffic flow and capacity.
It’s big, it’s red and it’s rolling in Naples and Fort Myers. RedCoach – a luxury motor coach service – has recently added stops in Southwest Florida.
With daily departures, the company is offering pickup and drop-off services in cities across the state and in Georgia. There are more than a dozen stops including Miami, Naples, Ft. Myers, Orlando, Tampa, Atlanta, Tallahassee, Gainesville, Lake Worth, Fort Lauderdale and Key West. The motor coach has 27 reclining seats, far less than most buses of its size. The seats recline up to 140 degrees and there are foot rests. All our buses have: ALL Leather First Class Seats - Wifi Onboard - 110v Power Outlets Onboard - JUST 27 Seats per Bus - LCD TV Onboard for Movies - Lavatory - GPS Monitoring - Reserved Seating. Besides the wireless Internet, there are power outlets on the motor coach so passengers can plug in their laptops, PDAs and other electronics. Traveling on RedCoach can be 40 to 82 percent cheaper than taking a plane. It departs from McDonald’s restaurant at the intersection of Davis Blvd. & Collier Blvd. Call 1.877.733.0724
Marco Island Maybe the “Most Beautiful” Town in United States. USA Today and Rand McNally sponsor the contest. It will be judged by a panel of travel experts and the Best of the Road* 2011 Rally Teams. Marco Island is one of six towns vying for the title. The winner will be announced on July 22nd.
The 2012 Naples Winter Wine Festival (NWWF), named “Believe in the Magic,” will take place Jan. 27 to 29 in Naples. The three-day affair for 580 guests has captured national attention for its fundraising prowess and extraordinary auction lots. Under the auction tent, the festival has raised $94.5 million since 2001 for the Naples Children & Education Foundation. Festival ticket prices are $8,500 per couple and $20,000 for reserved seating at the same vintner dinner for two couples. For a schedule of 2012 festivities and information about the Naples Winter Wine Festival, visit www.napleswinefestival.com or call 888-837-4919.
OpenTable.com announces its selection of the “50 Great Outdoor Dining” Restaurants and Naples has 6 Winners!
· Baleen’s
· Campiello’s
· Handsome Harry’s Third Street Bistro
· MiraMare
· Tommy Bahama’s
· The Turtle Club
Two Charter Captain’s in Naples involved with making the movie, “Hangover II” in Thailand. Captain’s Lance & Harry Julian own and operate Cruise Naples at Naples Bay Resort. But that’s not all they do. They have scouted setup and managed some of the most memorable scenes made on water. Their latest adventure had them in Bangkok, Thailand for three months. Captain Lance says they had four major scenes in the movie but the biggest was the final scene. Cruise Naples is located at 1200 Fifth Avenue South, 239-263-4949, www.cruisenaplesflorida.com/
Kids Love Summer Vacation in Florida.
Interested in a summer family vacation without breaking your travel budget? Check out the surprisingly affordable Wii™ Are Family Summer Vacation Package that is being offered by the Hilton Naples Florida Hotel.
The special Wii™ Are Family Summer Vacation Package starts at just $114 per standard room or $229 for a one bedroom suite with a pull out couch in the Parlor. The Hilton Naples Hotel has no hidden costs or resort fees. In addition to accommodations in the beautifully appointed guest rooms, the Wii™ Are Family Summer Vacation Package includes: exclusive access to Wii™ gaming system in your own guestroom, exclusive access to board games in your guestroom, a large pizza on a night of your choice delivered to your room by a Hilton Naples preferred vendor, a Paradise Coast Preferred Pass Access Card which provides values and savings to many local kid friendly attractions. Complimentary garage parking, internet in guest rooms and bicycles are also available for Hilton Naples hotel guests. A complimentary beach package including round trip shuttle, beach chairs, beach towels and bottled water packed in a cooler are available. The Wii™ Are Family Summer Vacation Package is available through September 30, 2011, based on availability. Visit www.hiltonnaples.com/specials.php for details
New Retail
Francesca’s, a women’s apparel, accessories and gift store, has opened at Coastland Center mall. 239-652-5672
Hurley, a youth lifestyle brand rooted in surfing, skating, music and art and featuring men’s and women’s apparel, has opened at Miromar Outlets.
New Restaurants
El Morro Cuban Cuisine has reopened after about a year. It is located in the NE corner of Golden Gate Parkway & Santa Barbara Blvd. It was relocated in the same strip mall to accommodate a new, stand alone, CVS Pharmacy. El Morro Cuban Cuisine floor space has been expanded from 1,400 to more than 5,000 square feet. The revamped restaurant features a new, large menu. View the menu at www.elmorronaples.com/ The new restaurant will feature live shows and karaoke on Friday and Saturday nights. 239-353-4017.
Five Guys Burgers & Fries will open soon at the former Grecian Gardens at 3148 U.S. 41 East. This will be first freestanding Five Guys as the other three Naples locations are in shopping centers. 
Fabulous Pita opened at 6434 Naples Blvd. # 404 in the Promenade at Naples Centre. That’s the spot between Moe’s and the former Shane’s Rib Shack. The fast-casual restaurant serves freshly made Middle Eastern, vegetarian and kosher-style food. Not a chain, it is locally owned.
The Olive Garden is being built at Coconut Point Mall. It will employ about 165 people and be about 7,400 square-feet.
Update on Listings, Pending Contracts, and Closed Sales for May, 2011 vs. May 2010:
Bonita Springs & Estero Areas:
|
Year |
2010 |
2011 |
Difference |
|
Listings |
2,205 |
1,793 |
-412
|
|
Pending Contracts |
167 |
158
|
-9
|
|
Closed Sales |
196 |
227 |
+31 |
Naples Area:
|
Year |
2010 |
2011 |
Difference |
|
Listings |
7,730 |
6,271 |
-1,459 |
|
Pending Contracts |
528 |
548 |
+20 |
|
Closed Sales |
782 |
881 |
+99 |
Average Days On Market:
May 2010= 165
May 2011= 179
The Naples MLS Area Recorded 881 Closings in May 2011
Distressed Sales Represented 30% of the 881 Closings
Distressed Sales Are Foreclosures and Short Sales
Source: Naples Area Board of Realtors Multiple Listing Service
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