Posted on Friday, March 30, 2012
We have had the most gorgeous winter this year. Lots of sunshine and warm weather.
It is the best I can remember in a long time. Season should be winding down soon, but heard in a restaurant on 5th Ave last night that all the hotels are booked through May.
Let the party continue!
Naples real estate continues to shine in the otherwise bleak housing market.
NABOR® data shows:
• Overall pending sales increased 55 percent in the $500,000 to $ 1 million category February 2011 to February 2012
• Overall closed sales increased 70 percent in the $2 million plus category February 2011 to February 2012
• Median closed prices overall are up 5 percent from February 2011 to February 2012
• Overall inventory reduced 17 percent from February 2011 to February 2012
• Overall average DOM (Days on the Market) decreased 4 percent from February 2011 to February 2012
• Overall pending sales increased 11 percent in the $300,000 to $500,000 category and 17 percent in the $500,000 to $ 1 million category 12-month ending
• Closed sales increased 13 percent in the $ 1 million to $2 million category 12-month ending
• Naples Beach area pending sales increased 17 percent and closed sales increased 20 percent 12-month ending
“The pace of activity continues to rise as inventory lowers,” agreed Coco Waldenmayer, Managing Broker of Engel & Völkers. “Increased sales generally lead to shorter time on the market.”
Adds Steve Barker of Amerivest Realty: “With the reduction in inventory, properties are selling faster. There is a sense of urgency. Inventory is on the decline in the condo market, from 4,930 listings in February 2011 to 4,250 in February 2012.”
“The fact that 855 homes under $300,000 were pending for February 2012 is very promising,” said Ernesto Velasquez of Coldwell Banker.
So we continue to see prices rising and inventories decline.
One fascinating part of the Naples lifestyle is giving back. So many retirees are looking for significance in the second half of their lives and deep down feel the need to help out others. So many non-profits, many invented right here, reach out to Collier County – the largest county east of the Mississippi – to make a difference. Galas, fund raising, and many times roll up your sleeves hard work. Imagine an area of the country near the top of per capita income lists where an estimated one third of the children live in poverty. Due to demand for real estate affordable housing is tough to find. So workers find it difficult living near their employer’s place of business and some families are doubled or tripled up. When viewed from the outside many apartment buildings seem normal enough. When viewed from the inside you see many families all living together. How is a kid suppose to do his homework in an environment like that? Now imagine a county full of caring people. People who care enough to make a difference. Enter Habitat for Humanity in Collier County where over 100 homes are renovated or built and over 1,400 homes now house 5,000+ souls in safe affordable housing. And the homeowner’s themselves? All legal residents of the Unites States and all BUYING their homes – no handouts here just “hand-ups.” Oh, and did I mention the default rate on all these mortgages is less than 1%? Imagine if a 1% default rate were the national average! These folks work, save and manage their money. Give them a chance through the donation of your time or treasure or both and it will not be wasted.
What a wonderful March – bring on April!
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No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
Email: mark.c.goebel@gmail.com
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