Things to do in Southwest Florida this Weekend

Check out the line up of things to do  in Southwest Florida this weekend and prepare to catch the holiday spirit!  Start tonight with a Holiday Evening on Fifth, followed by the Naples Santa Pub Crawl on Friday, and the Christmas Boat Parade on Saturday night. If you’re feeling more like a scrooge this weekend, there’s also a line up of non-holiday concerts, art shows, and comedy routines to choose from.

FRIDAY

SATURDAY

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November Market Report: Southwest Florida

Of the 30 neighborhoods that we monitor for single family homes in the Naples, Bonita Springs, Estero and Marco Island markets, 17 now have supplies that are at one year levels or above, with several above the two-year level.  For condos, only 6 of 25 monitored neighborhoods are at one year levels or above, and none are above the two-year level.  Our neighborhood snapshot reports (shown at bottom) tell a very clear story about the increasing inventory and months-of-supply in key Southwest Florida real estate markets.  See below for the November Southwest Florida real estate market report.

NAPLES, BONITA SPRINGS/ESTERO

Southwest Florida real estate market reportClosed Sales

During the 12 months ending October 31, 2016, the Naples, Bonita Springs and Estero markets had a total of 11,528 closings, which is 13% lower than the prior 12-month period when there were 13,258 closings. The price segment between $500,000 and $1 million remained relatively stable, showing less than a 3% decrease. The overall year-to-date closed sales were also down slightly at 9,749 vs. 11,314 YTD 2015. This represents a 14% sales pace reduction from last year. Closed sales priced above $2 million fell 23% year-to-date when compared to the same period in 2015 and during the past 12 months, sales in this price category are down 18% (385 vs 472).

New Listings/Inventory

Available inventory on November 1, 2016 for the Naples, Bonita Springs and Estero markets consisted of 6,537 units, up from 6,081 units last month reflecting a 31% increase over November 1, 2015. During the 12 months ending October 31, 2016, there were 20,124 new listings added to this market, which is an 8.8% increase over the same 12-month period in 2015.

Average and Median Sales Price

Average price of closed sales in the Naples, Bonita Springs and Estero market during the month of October was slightly lower year-over-year, while the median closed price is up 4% for the month. The average sales price over the past 12 months remained approximately the same as the prior 12 months at $519,491, while the average price of sales above $2 million fell 4.7%, from $3,872,674 to $3,691,985.

Southwest Florida real estate market reportMARCO ISLAND

Closed Sales

During the 12 months ending October 31, 2016, the Marco Island area had 827 closings, down from 992 closings for the same period last year. For year-to-date closed sales, there were 713, down from 868 during the same period in 2015.

New Listings/Inventory

Available inventory on November 1, 2016 for the Marco Island market consisted of 662 units compared to 629 units last month. During the full 12 months ending October 31, 2016, there were 1,514 new listings added to the Marco Island market, which represents a 10.8% increase over the same period last year when there were 1,366 new listings added.

Average and Median Sales Price

The average price of closed sales in the Marco Island market during the month of October remained consistent with October 2015, decreasing less than 2%, while the median price for the month increased 5%.  The average sales price over the past 12 months also remained stable at $726,000 vs. $738,000 a year ago.

*Marco Island statistics are obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco

NAPLES, BONITA SPRINGS/ESTERO MARKET SNAPSHOT

Southwest Florida real estate market report

Southwest Florida real estate market report

Southwest Florida real estate market report

Source:  John R. Wood Properties

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Holiday Events in Southwest Florida

From new parties to annual parades, Naples and the surrounding area hosts a variety of local holiday events and traditions every year. Whether you’re looking for an entire evening dedicated to Christmas shopping or the best time to bring your children to meet Santa, we’ve rounded up dozens of events to serve as your guide to celebrating the holiday season.


Holiday Lights

Fifth Avenue South - Annual Christmas Walk & Tree Lighting Ceremony - Naples Holiday Events and festivals

On December 1, guests can enjoy the 42nd annual Christmas Walk and Tree Lighting Ceremony on Fifth Avenue, while the Evening on Fifth: Rockin’ & Shoppin’ for the Holidays event features live music, shopping, dining, and dancing on December 8.

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The Naples Botanical Garden’s Night Lights in the Gardenevent will run from December 15-23 and December 26-30and will include live musical performances, family activities, thousands of twinkling lights, and the garden’s newest seasonal exhibit, Origami in the Garden, lit especially for the evening events until 9 p.m.


Holiday Tea

Make-A-Wish Southern Florida’s annual holiday tradition, Tea at The Ritz, will be December 3 at The Ritz-Carlton, Naples, decked out in holiday decor.

Brambles Tea Room will host a special Tales and Tea event on December 8 featuring a storyteller sharing a wonderful story as well as a seasonal tea complete with sandwiches, scones, and pastries including Christmas cookies and a red velvet yule log.

The Marco Island Center for the Arts will host its Beaux Art Holiday Tea, an annual holiday tea party featuring a special performance by Jackie Pierce, on December 15.

Cultural Performances

The Miami City Ballet brings to life George Balanchine’s The Nutcracker December 3 and 4 on stage at Artis—Naples. After winning an epic battle against the dastardly Rat King, Marie and her nutcracker prince set off on an adventure to the Land of Sweets, where they’re treated to majestic balletic sequences set to Tchaikovsky’s iconic score.

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The Florida Everblades Figure Skating Club will present their annual holiday show on December 11 at the Germain Arena. This year’s theme is “Holiday Playlist,” and more than 35 young skaters will perform to medleys from favorite holiday movies.

The Holiday Pops concerts at Artis-Naples are part of an all-new program of holiday classics featuring the Naples Philharmonic Chorus and Youth Chorus. Multiple performances will run from December 15-18.

Shopping

The Corkscrew Swamp Sanctuary’s third annual holiday market on December 12 encourages shoppers to browse for gifts while enjoying demonstrations by local specialty artists featuring paintings, pottery, natural jewelry, nature photography, and more. Guests are also invited to walk the boardwalk and visit the Blair Audubon Visitor Center Tea Room Café for refreshments.

On Christmas Eve, enjoy a festive snow show, complimentary photos with Santa, stories with Mrs. Claus, and strolling holiday carolers while shopping at the Village on Venetian Bay.

For Animal Lovers

istock-185327249Celebrate Christmas Marco Island-style with activities ranging from the Holiday Pets on Parade party on December 6 at CJ’s on the Bay to enjoying cookies and milk with Santain Mackle Park on December 17. The annual street parade on San Marco Road is scheduled for December 17 as well, while guests can enjoy ice-skating at Veteran’s Community Park on December 19. Visit christmasislandstyle.com for more activities.

The Naples Preserve’s annual holiday celebration will take place December 9-11, with each evening featuring musical entertainment, light refreshments, sunset boardwalk tours, and special animal guests.

Meet adoptable pets at the Humane Society’s Santa Paws event on December 13 at the Village on Venetian Bay, or bring your own pups out to meet and take holiday photos with Santa.

During the Winter Fest at the Naples Zoo at Caribbean Gardens from December 16-18, guests can watch as Naples zoo staff deliver gifts to the animals including beautifully wrapped presents and holiday-related delicacies.

On the Water

Southwest Florida’s coast offers plenty of chances to show off merrily decorated watercraft in parades on pleasant tropical evenings.

Naples Bay Christmas Boat Parade, December 10: Best views from Pinchers Crab Shack, Riverwalk Restaurant, Kelly’s Fish House, The Boat House Restaurant, Naples City Dock, and Naples Landings Park. Sponsored by the Marine Industries Association of Collier County, the event’s proceeds benefit the Ricky King Foundation.

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Marco Island Christmas Island Style Boat Parade, December 10: Best views from The Esplanade on Smokehouse Bay and Snook Inn on the Marco River.

Village on Venetian Bay Boat Parade, Naples, December 13: Best views from Bayside Seafood Grill, Fish restaurant, The Pub, M Waterfront Grille, and MiraMare. T-Michael’s has views from indoors. Bonus: Enjoy live entertainment, face-painting, a snow show, and Santa Claus.

Bonita Springs Christmas Boat Parade, December 10: Best views at Riverside Park along the Imperial River, the U.S. 41 Bridge, and the Imperial River Boat Ramp. Views from homes along the river are especially ideal.

More Celebrations

Christmas at Palm Cottage - The Naples Historical SocietyDon’t miss the quintessential Naples holiday experience—the annual Christmas at Palm Cottage. “This year’s tour reflects a more sincere presentation of what the holidays back in the day would look like,” says Naples Historical Society Executive Director Elaine Reed. The historic halls will be decked with charming, finely detailed decorations. Reed recommends booking tours online for $13 a person, as space is limited.

Naples’ 2016 Christmas Parade will be held December 6, and will line up on Broad Avenue. The floats will turn right onto Third Street South, right onto Fifth Avenue South, and end on Eighth Street South.

The Jewish Federation of Collier County will host their Seventh Annual Community-wide Chanukah and Menorah Lighting Celebration December 26 at Mercato. Preschool and Religious School children will perform and the Naples Klezmer Revival Band will provide live music.

The Seventh Annual Marco Island Community Chanukah Celebration will take place December 29 at the Jewish Congregation of Marco Island. This family-friendly event will feature Chanukah music, a candle lighting ceremony and lots of holiday spirit.

Source:  Naples Illustrated

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Hotels and Accommodations

Hotel

Southwest Florida is a world class vacation destination with a variety of accommodations to choose from. Whether you’re looking for luxury beachfront resorts or an enchanting off-the-beaten path hideaway, you will not be disappointed by what you find here. Enjoy everything that paradise has to offer including convenient locations close to the beautiful Gulf of Mexico beaches as well as acclaimed shopping and dining venues. Or just step out of your room right onto the beach or relax by the pool with a drink from the tiki bar.

NAPLES AND MARCO ISLAND ACCOMMODATIONS

The Ritz-Carlton, Naples
280 Vanderbilt Beach Rd., Naples, FL 34108
(239) 598-3300
Edgewater Beach Hotel
1901 Gulf Shore Boulevard N., Naples, FL 34102
(239) 403-2000
Inn at Pelican Bay
800 Vanderbilt Beach Road, Naples, FL 34108
(800) 597-8770
Naples Grande Beach Resort
475 Seagate Drive, Naples, FL 34103
(239) 597-3232
Naples Beach Hotel & Golf Club
851 Gulf Shore Boulevard N., Naples, FL 34102
(239) 261-2222
La Playa Beach & Golf Resort
9891 Gulf Shore Drive, Naples, FL 34108
(239) 597-3123
Bayfront Inn/Downtown on the Bay
1221 5th Ave S., Naples, FL 34102
(239) 649-5800
Bellasera
221 9th Street South, Naples, FL 34102
(239) 649-7333
Charter Club Resort on Naples Bay
1000 10th Ave S., Naples, FL 34102
(239) 261-5559
The Inn on Fifth
699 Fifth Ave S., Naples, FL 34102
(239) 403-8777
Trianon Old Naples
955 7th Avenue South, Naples, FL 34102
(239) 435-9600
The Ritz Carlton Golf Resort
2600 Tiburon Drive, Naples, FL 34109
(239) 593-2000
Residence Inn by Marriott
4075 Tamiami Trail N., Naples, FL 34103
(239) 659-1300
Courtyard By Marriott-Naples
3250 Tamiami Trail N., Naples, FL 34103
(239) 434-8700
Hampton Inn – Naples Central
3210 Tamiami Trail North, Naples, FL 34103
(239) 261-8000
Hilton Naples
5111 Tamiami Trail North, Naples, FL 34103
(239) 430-4900
Hyatt House Naples 5th Avenue
1345 5th Avenue South, Naples, FL 34102
(239) 775 1000
Inn of Naples
4055 Tamiami Trail N., Naples, FL 34103
(239) 649-5500
Staybridge Suites by Holiday Inn – Naples
4805 Tamiami Trail North, Naples, FL 34103
(239) 643-8002
Marco Island Marriott Beach Resort, Golf Club & Spa
400 South Collier Boulevard, Marco Island, FL 34145
(239) 394-2511
Marco Beach Ocean Resort
480 South Collier Boulevard, Marco Island, FL 34145
(239) 393-1400
Marriott’s Crystal Shores
560 South Collier Boulevard, Marco Island, FL 34145
(239) 394-5000
Hilton Marco Island Beach Resort and Spa
600 South Collier Boulevard, Marco Island, FL 34145
(239) 393-6800

FORT MYERS AND FORT MYERS BEACH ACCOMMODATIONS

Great Fort Myers Hotel Resource!
Hotels from Downtown to the Airport
(877) 424 2449
Outrigger Beach Resort
6200 Estero Boulevard, Fort Myers Beach, FL 33931
(239) 463-3131
Lovers Key Resort
8771 Estero Boulevard, Fort Myers Beach, Florida 33931
(239) 765-1040
Wyndham Garden Fort Myers Beach
6890 Estero Boulevard, Fort Myers Beach, FL 33931
(877) 463-5711
Kahlua Beach Club
4950 Estero Boulevard, Fort Myers Beach, FL 33931
(239) 463-5751
Edison Beach House
830 Estero Boulevard, Fort Myers Beach, FL 33931
(239) 463-1530
Pink Shell Beach Resort & Marina
275 Estero Boulevard, Fort Myers Beach, FL 33931
(888) 222-7465
Best Western Beach Resort
684 Estero Boulevard, Fort Myers Beach, FL 33931
(239) 463-6000
Matanzas Inn Bayside Resort & Marina
414 Crescent Street, Fort Myers Beach, FL 33931
(239) 463-9258

SANIBEL ISLAND & CAPTIVA ISLAND ACCOMODATIONS

Sundial Beach Resort & Spa
1451 Middle Gulf Drive, Sanibel Island, FL 33957
(877) 472-4151
Casa Ybel Resort
2255 West Gulf Drive, Sanibel Island, FL 33957
(239) -472-3145
Caribe Beach Resort
2669 West Gulf Drive, Sanibel Island, FL 33957
(800) 472-1166
South Seas Island Resort
5400 Plantation Road, Captiva Island, FL 33924
(239) 472-5111
Captiva Island Inn
11508 Andy Rosse Lane, Captiva Island, FL 33924
(239) 395-0882
‘Tween Waters Inn Island Resort & Spa
15951 Captiva Drive, Captiva Island, FL 33924
(800) 223-5865

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Expect Rising Mortgage Rates in December

Mortgage Rates Rate Volatility

 

The average cost of a Thanksgiving meal (serving 10) this year is $49.87. That’s down from $50.11 last year, according to the American Farm Bureau Federation.

 

Stocks continue to rise, once again hitting new all-time highs, while bonds continue to see yields increase. Rising bond yields contribute to higher mortgage rates.

 

It is now 100% expected that the Fed will increase policy rates in December. Forecasts for next year already have the Fed raising policy rates 3 more times.

 

Existing home sales rose in October to their highest levels in more than 9 years. It’s yet to be seen if rising mortgage rates can slow down demand in November.

 

New home sales were down slightly in October, but it’s expected to be only a temporary setback. Sales were still 17.8% higher than the same time last year.

 

Median home prices dipped 1.35% from September to $232,000 for existing homes. However, prices were still 6% higher than October of last year.

Source:  New Penn Financial, LLC

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The Ultimate Beach Guide

naples beaches

With many miles of sandy shoreline along Naples Florida and its surrounding communities, our banquet of beaches satisfies every type of beachgoer. Here are dozens of ways to experience the finest attributes of the Paradise Coast, from Marco Island to Bonita Beach.


ACTIVECue the parasailing chute and paddleboard. For those who equate water sports with beaches, the choices abound. Fishing? The pier at Naples Municipal Beach, of course. Sailing? Sugden Regional Park. Vanderbilt Beach excels in all flavors of water sports with concessions for paddleboards, kayaks, wave runners, and parasailing. (colliergov.net)

Paddle the Mangroves

Explore endless stretches of mangroves and estuaries. (©Naples Marco Island Everglades CVB)


BEACH BUMThere are those who want nothing more than to soak up rays—and hold the exercise, please. For the utmost in beach chill, check into one of our famous beach resorts, such as The Ritz-Carlton, Naples, or Naples Grande Beach Resort, where flagged cocktail service is the ultimate lazy beach-day indulgence.

Clam Pass Beach

Naples Grande Beach Resort, Clam Pass Beach.

CHILDREN. With small tots, avoid the passes, where currents are stronger. Lowdermilk Park near downtown Naples is ideal for families, with its playground and duck pond. Tigertail Beach on Marco Island offers a safe lagoon and playgrounds for toddlers, as well as water-sports rentals for the older kids.

Families love the Paradise Coast for its beaches, resorts and family attractions.

Family beach fun and adventure are yours when boating to nearby island beaches.


DOGSBonita Beach Dog Park caters to pets with an off-leash beach, doggy shower station, disposal bags and station, and restrooms. It lies between Lovers Key State Park and the bridge over New Pass. Wear shoes you don’t mind getting wet, because at high tide you often have to walk through water to get to the narrow beach.(leegov.com/parks).

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EVERYBODY IN! Cool down your summer beach day with a dip in the Gulf of Mexico. And score a little exercise while you’re at it. Our calm waters are conducive to swimming—especially in areas without a lot of motorized water-sports action or rushing pass waters, such as the beach that fronts Pelican Bay, a short walk south from Vanderbilt Beach.

These two are happy to be in the ocean on an idyllic day


FAUNANature lovers go to the beach for the wildlife. Shorebirds skitter and stab at the sand. Dolphins poke their smiles out of waves. Pelicans dive-bomb for breakfast. What a show! Tigertail Beach on Marco Island offers some of the best birding. Head to Barefoot Beach Preserve County Park, voted No. 2 on Dr. Beach’s 10 Best Beaches in the America list for 2015, to see gopher tortoises navigating the sands. Delnor-Wiggins Pass State Park, ranked ninth by Dr. Beach, is known for its summer nesting population of loggerhead sea turtles.

Two dolphins frolic off the coast of Naples. The appealing sea mammals make their home along the Southwest Florida coast and are frequently spotted during sightseeing boat tours.

Dolphins ride a boat’s wake off the shores of Naples. (©Naples Marco Island Everglades CVB)

GREEN FLASH. When conditions are clear and the sun slips over the edge of the sea, it will on occasion send up a green flash of light as a grand finale. Some say a little rum helps your chances of seeing a green flash, so head to The Naples Beach Hotel & Golf Club’s Sunset Beach Bar & Grill just in case that’s true.

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The Sunset Beach Bar & Grill at The Naples Beach Hotel & Golf Club.


HANDCRAFTED SANDCASTLESIt just so happens that the sand on local beaches makes the best sand-castle-building material. The Naples Beach Hotel & Golf Club occasionally offers its young resort guests aged 5 to 12 Sand-castle Building as one of its free kids’ program activities.

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Sand castles and kids go together on the beaches of Marco Island. (©Naples Marco Island Everglades CVB)


INTIMATELocal boat charters can make for a romantic excursion to an unbridged island in the Ten Thousand Islands south of Marco Island. Or rent your own vessel for a truly twosome experience. Try Everglades Area Tours for excursions customized to your vision of romance.

Deserted stretches of sandy beach may be found by boaters exploring the mangrove forests in the Ten Thousand Islands coastal estuary.

Deserted stretches of sandy beach may be found by boaters exploring the mangrove forests in the Ten Thousand Islands. Everglades National Park. (©Naples Marco Island Everglades CVB)


JET SKISAdjacent to Bonita Beach Park, the main access in Bonita Springs, Bonita Jet Ski & Parasail rents personal watercraft by the half-hour and hour. It also leads two-hour dolphin tours by Jet Ski.

Guided waverunner tours take visitors on slow speed excursions through the estuary habitats, for close up views of birds and other wildlife.


KEEWAYDIN ISLANDOfficially called Key Island, locals refer to it as Keewaydin, the name of an erstwhile resort on the unbridged barrier island southwest of downtown Naples. The 8-mile-long island attracts birds, sea turtles, and recreational boaters. The latter congregate en masse most weekends at the island’s north end, with concession boats on the scene to cater. Those looking for a bit more seclusion venture farther south.

Naples, FL, USA - March 16, 2016: Boats moared up on Keewaydin Island near Naples in Florida

Boaters docked for the day to explore Keewaydin Island.


LOGGERHEADSSince prehistoric times, loggerhead sea turtles have lumbered onto local beaches to deposit their nests of round, leathery eggs. Delnor-Wiggins Pass State Park in North Naples offers a turtle-walk program during the summer to educate park visitors about the endangered creatures. The Conservancy of Southwest Florida monitors populations on Keewaydin Island and other city beaches. Local resorts join the effort to protect the species by asking their guests to close their curtains at night so that the lights do not confuse mother sea turtles and their hatchlings. LaPlaya Beach & Golf Resort in Naples goes as far as designing a summer package that includes the opportunity to adopt a sea turtle.

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MANGROVESClam Pass Park has the added bonus of a mangrove canopy and tidal bay you must cross to get to the beach. The wild mangrove habitat provides a marine nursery, attracts butterflies, and makes for a pretty, shaded stroll down the boardwalk. Or you can ride one of the complimentary shuttles.

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Mangroves at Clam Pass Park.


NIGHTLIFEStroll along the beach by moonlight for cocktails at some of the local resort clubs. Start at Gumbo Limbo at The Ritz-Carlton, Naples for sunset, then walk to the Turtle Club at Vanderbilt Beach Resort for dinner. End with a nightcap at the beach fire pit at LaPlaya Beach & Golf Resort. On Marco Island, start at Quinn’s on the Beach at the Marriott Resort Marco Island for a sunset cocktail and show. Then hit the Toulouse Lounge at Marco Island Beach Resort and the Sandcastles Lounge at the Hilton Marco Island.

Baleen Outside

Baleen Restaurant, LaPlaya Beach & Golf Resort.

OBSERVATION TOWERFor those thumbs-up Instagram beach photos, you need elevation—something we don’t have a lot of in Southwest Florida. Hike up the observation tower at Delnor-Wiggins Pass State Park in North Naples and the brand new one at Tigertail Beach on Marco Island to capture the best shots.

View of Delnor-Wiggins Pass State Park beaches.

PADDLE CRAFTTigertail Beach on Marco Island stocks a full fleet of kayaks and paddleboards for use in its calm lagoon created by Sand Dollar Spit. Once you have your sea legs, head out to bigger challenges in the Gulf of Mexico.

Stand-up paddleboarding tours are available from several Paradise Coast outfitters. (©Naples Marco Island Everglades CVB)

QUIETThe lovely spots that offer beach access with no facilities, such as some of those along Hickory Boulevard on Bonita Beach and along Gordon Drive in Naples, are where you will find a sliver of peace and quiet. Many don’t even have spaces for cars to park, so plan on riding your bike or walking in.

Naples Beach's white sands overlook the Gulf of Mexico.

REELINGYou can fish from shore at any local beach, as long as you have the proper fishing license. Anglers have the best luck near the pass at Delnor-Wiggins Pass State Park or at Gordon Pass in south Naples. At the Naples Pier at Naples Municipal Beach you are covered by the pier’s license, so you do not need to purchase one yourself.

Naples Pier is a popular spot for fishing, people watching, dolphin and bird watching and sunsets.

Naples Pier. (©Naples Marco Island Everglades CVB)

SEASHELLSThe more secluded the beach, the more seashells you will usually find. A prime example of this rule of thumb, Coconut Island north of Old Marco—more of a sandbar than an island, really—is a shell-seeker’s dream, because one can only get there by boat. Big Hickory Island in Bonita Beach is another well-kept sheller’s secret.

Searching for collectible shells is a favorite activity, especially on the many nearby barrier islands surrounding Naples, Marco Island and Everglades City.

Check out many of the nearby barrier islands surrounding Naples, Marco Island, and Everglades City for the best shell hunting. (©Jonell Modys, Naples Marco Island Everglades CVB)

TORTOISESHeed the signs when you drive into Barefoot Beach Preserve County Park, which is accessible from Bonita Beach. They warn of gopher tortoises, and they’re not kidding. Certain times of day you will see tortoises walking the roadways and hanging out in the parking lot. (Check under your car before you back out.) The state-listed reptile digs long burrows, which it shares with more than 350 different species.

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UNTETHEREDSome days you just want to channel a Jimmy Buffett song and leave mainland, mainstream life behind to get stranded on a sandbar. That’s when you need a boat to escape to such remote islands as Coconut, Keewaydin, Cape Sable, and others in the Ten Thousand Islands.

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Source: Naples Illustrated

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Purchase contracts: Deposit required to seal the deal?

Purchase Contract deposit required
Aqualane Shores Home

Working in real estate in Naples Florida I am asked: Is earnest money required to make a contract legal and binding. The answer: no.

Deposits are often provided as evidence of a buyer’s commitment to the purchase, but they are not required by law. A binding contract to purchase real estate only requires consideration. Consideration is defined as something of value offered for something else of value.

According to the Florida Bar, “The formation of a contract is accomplished when there is an offer and acceptance between the contracting parties of the exchange of ‘consideration’ (that is, something of value). This offer and acceptance are sometimes referred to as a ‘meeting of the minds.’ If the parties have not reached a meeting of the minds, then there is no agreement.” In the case of a real estate purchase contract, the consideration the buyer is offering is the purchase price in exchange for the deed to the property.

Most purchase contracts contain a section to indicate the amount of an escrow deposit and when it’s due. Purchase contracts also usually contain a liquidated damages clause that entitles the seller to keep the deposit if the buyer defaults. Liquidated damages are common in real estate purchase contracts, even though the parties are agreeing what the remedy is for the other side in the event the buyer defaults.

If I as the listing broker receive a contract that is either cash or 100 percent financing with a deposit amount of “0,” I must present it to the seller. This contract is valid despite the lack of an earnest money deposit. I may explain to the seller that because there’s no deposit, there is nothing for the seller to keep as liquidated damages if the buyer defaults. Buyers and sellers can negotiate these terms just like all other terms of the agreement.

Some sellers look at a lack of deposit as unfair. Why, they ask, would they remove their house from the market if the buyer is not serious enough to put down a deposit? A seller certainly may insist on a deposit before agreeing to the contract; this is allowable if the buyer agrees. However, it is not legally required. In addition to a deposit, sellers will also sometimes ask for other requirements like proof of funds or a prequalification letter.

Transactions come in all shapes and sizes.  I advise my clients to have an attorney review the contract,  and also work with a realtor who understands the components of the contract.  Contact me to assist you with your real estate needs in Southwest Florida!

Source: Florida Realtors

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Weekend Scoop: Things To Do In Southwest Florida

November 17th, 2016  Things to Do

Things to Do - Sandscuplting Championships
Things to Do – Sandsculpting Championships!

 

 

 

 

 

 

 

This weekend in Southwest Florida there are a few annual favorites in the line up of things to do,  including Sandsculpting Championships, Taste of Bonita, Edison Fall Garden Festival, and the Fort Myers Boat Show.  As usual, there are also plenty of options surrounding the arts and music scene, so don’t miss out!

THURSDAY

FRIDAY

SATURDAY

SUNDAY

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Third Quarter Market Review for 2016

NAPLES CONDOMINIUMS

  • The average price paid for condominiums through the third quarter increased 8% over the same period a year ago to $372,000.  Median price for the period was up 2.5% at $240,000.
  • There were 914 condominiums closings in the third quarter, an 18% decline from Q3 2015.
  • Months of supply is 6.1 months,  down from 7.8 months at the end of QW2 and up from 3.2 months at the end of Q3 2015.

BONITA SPRINGS/ESTERO SINGLE FAMILY HOMES

  • The average price paid for a single family home through the end of the third quarter is $440,339, a 9.2% decrease from a year ago.  Median price was up 4.8% over the same period to $368,000.
  • During the third quarter, there were 332 single family home closings, down from 350 in Q3 2015.
  • Months of supply is 6 months, down from 9.7 months at the end of Q2 and an increase from 4.1 months a year ago.

BONITA SPRINGS/ESTERO CONDOMINIUMS

  • Average condominium price through the first 9 months is $283,449, down 6.5% from an average of $303,285 for the same period a year ago.  Median price was approximately the same as last year at $234,800, a decline of 2%.
  • There were 325 closings during the third quarter, 8 fewer than Q3 2015.
  • Months of supply is 5.6 months, up from 2.7 months at the end of Q3 2015.

MARCO ISLAND SINGLE FAMILY HOMES

  • The average sales price at the end of Q3 was $843,834, consistent with a year ago.  Median price was $645,000 which represent less than a 2% increase over prior year.
  • There were 90 closings of single family homes during the third quarter, a 14% increase over Q3 2015 when there were 79.
  • Months of supply is 10.2 months at the end of Q3 2016, up from 7.7 months at this time in 2015

MARCO ISLAND CONDOMINIUMS

  • Condominium average price was up 8.5% compared to the same period in 2015 at $594,579.  Median price declines 9% year over to $350,000.
  • There were 107 closings during the third quarter 2016 vs. 123 for the same period in 2015.
  • Months of supply is 8.1 months, up from 4.6 months a year ago.

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 Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

Weekend Scoop – Things To Do In Southwest Florida

Things to do in Southwest Florida – There are plenty of tricks and treats to enjoy this weekend in Southwest Florida.  Our top picks:  the Naples International Film Festival, and the Stone Crab Festival.  Where will you be ?

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Stone Crab Festival

THURSDAY

FRIDAY

SATURDAY

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Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.