Home Sales are Up and it's Snowing in Southwest Florida! Both statements are TRUE!

Home Sales are Up and it’s Snowing in Southwest Florida! Both statements are TRUE!

I hope they hate snow - Come on Down to Sunny Naples Florida, where it NEVER... I mean...

Naples real estate sales are up, and overall, Naples FL home sales will be different this year. Last night, Naples held its annual tree lighting ceremony during their festival of lights. Everyone gathers in downtown Naples on 5^th Ave and the Mayor comes out and does his thing and they light the tree like every other small town in America. Cool, right? Yes. But not nearly as neat as the fake snow generated by a bubbly soap that gives you the feeling it is snowing! In sunny Naples Florida! This event marks the beginning of the season. Thanksgiving is only a couple days away, then everyone will storm the Naples stores for Black Friday. Then, instead of making an extra trip to the next strip mall, I have a feeling this year, people will be shopping for real estate instead.

I have been fielding calls all offseason, the busiest yet, and many times, I get the comment, “Well, I’m definitely interested in Naples real estate, but I won’t be down until the season, we’ll talk then.” Many of my clients are planning trips in December and January, and most will stay through March. I will be booked solid this season.

Interest in Naples homes for sale is high. Investors are buying income generating Naples condos on the cheap. They are paying cash, and they are going fast. Of course, Naples foreclosures have a lot to do with the Naples real estate boom.

Tim Ryan, Naples Real Estate (239) 963-4070

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Naples Real Estate Sales Trends 2009

The numbers continue to grow. The last 12 months have shown a steady increase in single family home sales in Naples, Fl. Naples real estate will continue to be a highly sought after investment strategy for buyers. Perhaps more significant is the first time home buyers that have chosen Naples fl homes for sale as their first choice in choosing a homestead. See the graph showing Naples Fl homes for sale closings:

This graph represents only single family home sales, and doesn't include condo, investment properties or land sales. The trend continues upward for those as well.

Many will automatically attribute the increase in sales to the first time home buyers because of the first time home buyers credit. However, I have found that most of my buyers purchasing Naples FL homes for sale are investors with cash. They aren't taking out 2nd and 3rd mortgages to finance their investments, they are instead spending their cash on Naples single family homes. These buyers are the driving force behind the trends currently fueling the spike in home sales. Here is the contrast visually of Naples FL homebuyers financing in the last 12 months:

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Naples FL Property Taxes

When selling Naples real estate, I am often asked, “What will my taxes be?” Since I am not the Collier County Appraisers Office, I cannot give an accurate answer. I advise my clients that typically, on Naples fl homes for sale, taxes are assessed for Collier County at 1.25% of purchase price. My clients are often most concerned with the overly inflated assessments either made by appraisers in the last 5 years, or from purchase prices from before the southwest Florida housing bubble burst here in Naples. I have to advise, once again, that they can expect a 1 ¼% assessment from their purchase price.

As a Naples Realtor, I cannot comment on taxes. I leave this to the appropriate people. However, I can point my clients to the process that is followed if they think their assessment was not just and equitable.

After purchasing a Naples FL home or Naples condo, a property owner is allowed 25 days after the TRIM Notice is mailed to protest the assessment to the Collier County property appraiser. Is the property owner has a valid argument, and it is based in fact, ie. purchase price, the county appraiser may make a change and lower the assessed value.

First, the homeowner should go to the County Property Appraiser Office. If the assessment is appropriately reduced, then good. If the new assessment is still not just and equitable, the homeowner can go before the Value Adjustment Board. If still, the assessment is not just and equitable, the homeowner can go to court.

I feel confident that the Collier County Property Appraiser’s office will fairly, justly and equitably adjust your assessed value after a real estate purchase so you have no need to worry. If they don’t, the simple, aforementioned process will help you get a fair assessment of your Naples real estate.

If you are interested in reading more about this or other frequently asked questions related to naples FL real estate, Naples condos, Naples homes, or anything else, you can visit the Guru’s FAQ pages at http://www.naplesguru.com/faq.php

Tim Ryan, Naples Real Estate

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Pelican Bay Naples - 2009 Sales and Links

Pelican Bay Naples Market Update and Links

There were 213 closed sales in Pelican Bay Naples between 11-1-08 and 11-1-09. Here they are:

	MLNum	List Price	Selling Price	Full Address	SubCondo Name	Beds	Baths	Half Baths	Living Area	Year Built	Date Closed
1	208011874	$17,700,000.00	$16,400,000.00	7613 BAY COLONY DR	STRAND AT BAY COLONY	6 or More	7	2	12505	2000	4/17/2009
2	209008774	$14,900,000.00	$14,000,000.00	7621 BAY COLONY DR	STRAND AT BAY COLONY	4+Den	6	3	10345	2002	7/29/2009
3	208046890	$12,500,000.00	$9,500,000.00	7607 BAY COLONY DR	STRAND AT BAY COLONY	4+Den	6	3	9775	1995	3/31/2009
4	209006790	$5,795,000.00	$5,225,000.00	372 CROMWELL CT	BAY COLONY SHORES	4+Den	4	2	5500	2007	9/1/2009
5	208018206	$6,250,000.00	$5,100,000.00	8477 BAY COLONY DR, #602	WINDSOR AT BAY COLONY	4+Den	4	1	6085	1998	3/3/2009
6	208019634	$4,500,000.00	$3,500,000.00	7264 TILDEN LN	BAY COLONY SHORES	5 Bed	5	2	7538	1996	pppp

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Aqualane Shores Naples Sales Trends 2009

Aqualane Shores, Naples Real Estate 2009

Aqualane Shores is one of the most sought after areas for luxury buyers who want the most of Naples waterfront living. Tucked between Old Naples and Port Royal, the small neighborhood, a Naples single family home non-gated development, boasts high-end Naples real estate with all the amenities those would expect from such a community. Naples homes for sale in Aqualane Shores have remained fairly steady in price. The market hasn’t been as active as surrounding communities, but due to its small size, you won’t hear much about a large number of transactions, rather, quality ones. Here are all Aqualane Shores real estate sales in the last 12 months (11/25/08 through 11/25/09):

	MLNum	List Price	Selling Price	Sold as % of List	Full Address	Bedrooms	Full Baths	Half Baths	Living Area	Year Built	Closed Sale Date
1	207025595	$4,297,000	$3,650,000	84.94%	460 15TH AVE S	4+Den	5	2	4875	2007	7/10/2009
2	208045258	$3,900,000	$3,600,000	92.31%	754 17TH AVE S	4+Den	4	1	5350	2002	8/18/2009
3	207049140	$3,500,000	$3,500,000	100.00%	766 17TH AVE S	4+Den	4	1	5858	1996	5/14/2009
4	208006331	$4,850,000	$3,000,000	61.86%	933 18TH AVE S	3 Bed	4	0	2826	1966	4/3/2009
5	207051963	$3,500,000	$3,000,000	85.71%	2022 4TH ST S	3+Den	4	1	4589	1999	5/18/2009
6	208043848	$2,600,000	$2,575,000	99.04%	720 17TH AVE S	4+Den	5	1	6200	1997	7/31/2009
7	208040259	$2,900,000	$2,300,000	79.31%	302 18TH AVE S	4 Bed	4	1	4165	1994	8/13/2009
8	209003080	$1,600,000	$1,275,000	79.69%	1700 3RD ST S	3+Den	3	0	2117	1962	8/4/2009
9	209019323	$1,295,000	$1,150,000	88.80%	1770 4TH ST S	3+Den	3	1	3486	1991	6/11/2009
	Ave	$3,160,222	$2,672,222	85.74%

Aqualane Shores hasn’t experienced much in distressed sales. The homes above were bought by those seeking amenities on the Gulf. The average sales price was $2.67M. On average in the last year, Aqualane Shores homes sold for 85% of what they were listed for. (This is a small set of numbers, so the average is heavily skewed by some transactions that could be considered close to anomalies).

Naples real estate has experienced significant growth in the last 12 months. Here are sales trends for single family residences:

Search Naples listings with current updated Naples MLS.

Tim Ryan, Naples Real Estate (239) 963-4070 info@naplesguru.com

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Aqualane Shores Real Estate, Naples FL

Aqualane Shores Real Estate, Naples FL

Aqualane Shores is one of the most desirable locations in all of Naples, west of US 41 on the Gulf of Mexico. Tucked between Old Naples and Port Royal, the mature landscaped streets, with old banyan trees providing shade against the blue-green waters of the Gulf, make this an unforgettable area to buy Naples real estate. Many Aqualane Shores, Naples homes for sale are within walking distance to the beach. It’s only a 2 minute drive to Third Street shopping district and 5^th Ave. Nearby is world renowned dining and shopping, Venetian Village, entertainment, and tropical waterways for boating and fishing enthusiasts.

Aqualane Shore homes for sale

In the last year (period 11-1-08 to 11-1-09) there were only 9 closed sales. This is not because buyers are avoiding this area, this is because there isn’t as much for sale and those that do sell fetch higher prices due to the luxurious property and amenities being purchased. Here is the sales data:

	MLNum	List Price	Full Address	Bedrooms	Full Baths	Half Baths	Living Area	Year Built	Selling Price	Closed Sale Date
1	207025595	$4,297,000	460 15TH AVE S	4+Den	5	2	4875	2007	$3,650,000	7/10/2009	84.94%
2	208045258	$3,900,000	754 17TH AVE S	4+Den	4	1	5350	2002	$3,600,000	8/18/2009	92.31%
3	207049140	$3,500,000	766 17TH AVE S	4+Den	4	1	5858	1996	$3,500,000	5/14/2009	100.00%
4	208006331	$4,850,000	933 18TH AVE S	3 Bed	4	0	2826	1966	$3,000,000	4/3/2009	61.86%
5	207051963	$3,500,000	2022 4TH ST S	3+Den	4	1	4589	1999	$3,000,000	5/18/2009	85.71%
6	208043848	$2,600,000	720 17TH AVE S	4+Den	5	1	6200	1997	$2,575,000	7/31/2009	99.04%
7	208040259	$2,900,000	302 18TH AVE S	4 Bed	4	1	4165	1994	$2,300,000	8/13/2009	79.31%
8	209003080	$1,600,000	1700 3RD ST S	3+Den	3	0	2117	1962	$1,275,000	8/4/2009	79.69%
9	209019323	$1,295,000	1770 4TH ST S	3+Den	3	1	3486	1991	$1,150,000	6/11/2009	88.80%
								Ave Sales Price	$2,672,222	Sale Price as a % of List Price	85.74%

By the Numbers

The average closed sale price was $2.67M. Most of these properties are larger than the typical Naples homes, with an average living area of over 4,000 square feet.

On average, the closed sales price was almost 86% of list price, or in other words, homes actually sold for about 86% of asking.

There was only one bank owned foreclosure sold in the same time period, which was the lowest price unit for $1.15M.

If you are interested in Aqualane Shores real estate, contact us or call the office at (239) 963-4070.

Tim Ryan, Naples Real Estate – http://www.naplesguru.com

#1 Naples Buyers Agent

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Royal Harbor Naples 2009 Sales

Royal Harbor – Naples Waterfront Real Estate

Royal Harbor in Naples is a boaters dream. Set conveniently on the east side of Naples Bay, west of 41, across from Aqualane Shores, Old Naples and Port Royal, the community  boasts a high concentration of canals that provided most Naples homes for sale within Royal Harbor direct access to the Gulf of Mexico with no restrictions from bridges. Boat owners with larger vessels often find this development perfect for providing them convenience to the Gulf and ease of access of larger power boats with tall T-tops, tuna towers or sailboats. Most rear back yards line the canals providing their owners long seawalls and plenty of space for private docks. Often referred to as Port Royal’s little sister, this development provides the Gulf access lifestyle in a more affordable community. Royal Harbor is also minutes to downtown Naples.

Royal Harbor – Naples Real Estate by the Numbers

There were 25 single family home sales in the last year (11-1-08 to 11-1-09) in Royal Harbor. The average selling price was $1.5M, however, there were 13 sales under $1M. The average sale price as a percentage of list price was 89%, so in other words, of single family resales, homes closed for 89% of asking price. The community is mostly single family home sites, so there are only a few condo subdivisions within Royal Harbor. There were 3 condo sales averaging $150K, which closed on average 90% of list price.

Royal Harbor Foreclosures

There were only 2 bank owned foreclosure sales in Royal Harbor during the same time period, one closed at almost $690K and the other $535K. These 2 sold for 97% of asking. There aren’t many foreclosures in Royal Harbor.

If you are an avid fisherman, boater or simply enjoy waterfront living, you should get to know Royal Harbor in Naples.

Naples Real Estate

If you are interested in Royal Harbor, Naples FL, see our community profile page with listings updated daily, a community write-up and community Video Tour!

Tim Ryan, Naples Real Estate – http://www.naplesguru.com (239) 963-4070

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How can an Illinois baseball team help Naples, Florida real estate?

How can an Illinois baseball team help Naples, Florida real estate?

Maybe the Chicago Cubs are interested in Naples Florida. Maybe they are simply trying to get a better deal in Mesa Arizona. Regardless of their motivation, it is a rumor worth exploring. If the Chicago Cubs left Arizona to move their Spring Training operations to Naples Florida, the city and surrounding areas would experience tremendous benefits. The club brings almost $50M a year to its current local economy in AZ. Since Naples has many amenities to offer, is already suited to handle tourism with a huge rental market and white sandy beaches, the club could bring even more than $50M to Naples. Chicago Cubs executives visited Naples earlier this month and met with Naples City and Redevelopment officials.

Winning this contract, which would likely be for up to or exceed 30 years, is like bidding for the Olympics. Naples sells itself, but it would certainly take a lot of negotiating to work out out the money. Also, Naples would need to get to work on zoning changes to free up some possible sites. The Cubs would demand a new park, satellite practice fields, facilities and of course, parking.

Naples FL home sales have jumped in the last year. This move would have a direct influence on future Naples real estate sales. Naples residents are torn on the move. Some openly accept the possibility and hope while others do not want the development, construction headaches, additional traffic and influx of people. The optimists argue for the benefits this move would have on local businesses, jobs and stabilization of the real estate market.

Since the downtown area is mostly developed, a possible location could be in the East Naples area, which has much undeveloped land and is in need of something like this to spark redevelopment and pump some money into the local small businesses.

Tim Ryan, http://www.naplesguru.com – Naples Real Estate, Naples MLS Search

#1 Naples Buyers Agent, #1 Naples Foreclosures

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How Much Should I Offer the Bank?

How much should I offer the bank?

Since I find more buyers property than any other agent acting as a buyers agent selling Naples real estate, and a good amount of these transactions have been REO bank owned Naples homes for sale, I am often asked, “How much should I offer the bank?” Everyone is an expert when buying property from John and Jane Doe down the street, but everyone is clueless when the seller is a bank. With the flood of Naples FL REO foreclosures (Real Estate Owned) properties in southwest Florida, buyers are anxious to get their hands on a great deal. It’s probably a popular topic of conversation at dinner parties and cocktail hours amongst northern and foreign investors. It’s the popular chatter at the water color. Everyone brother-in-law’s, sister’s, husband’s, cousin bought a foreclosure and got a great deal. Most mainstream publications or local news channel have sent a reporter into a foreclosed home to report on the squatting, stripping of copper and absence of appliances. It’s an interesting story that captures a buyer’s attention. However, the most interesting draw is obviously price.

Countless phone calls and emails ask my most FAQ: How much should I offer the bank?

My answer is mostly, “At least asking”. Here is why I answer this way: In September 2009, there were 433 closed Naples single family home sales and 387 closed Naples condo sales. The Average Sales Price as a Percentage of List Price (sales$/list$) was 93%. This means the final closed price paid was, on average, 93% of what the property was listed for. There are many things that contribute to this percentage, ie. sellers initial over-pricing, seller concessions, required repairs, lowered prices since listing date, etc. Conversely, of the 149 total closed Naples foreclosure sales in September 2009, the Average Sales Price as a Percentage of List Price (sales$/list$) was 102%. This means, on average, the final closed sale price exceeded asking.

I take many things into consideration when advising on offer amounts. There is a lot to learn, whether your buying a foreclosure or regular private resale. If your interested in purchasing a home or condo in southwest Florida, contact me and we can sit down to discuss your Naples FL home search.

Tim Ryan, info@naplesguru.com

http://www.naplesguru.com - Naples Real Estate, MLS Search, Community Profiles with Video Tours

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