Naples Growth

Naples Growth – Naples, FL has been consistently recognized as one of the best places to retire, and has also earned the top spot in Bloomberg’s list on metropolitan areas expected to see the most growth in 2016.

Naples Growth
Naples Pier Sunset

The end of the first quarter in 2016 saw that the population is indeed growing right along with high-value jobs and new construction which is all having a significant impact on the Naples, FL housing market.
“Developers have jumped back into building housing,” said Phil Wood, President of John R. Wood Properties.   “There are new starts and new construction.  For the last two years, we’ve been building fast and furious.  It’s good for our economy.  There’s a trickle-down effect with people building homes.”

Wood goes on to say, “It’s about 50/50 between single-family homes and condos, although many people get into one or the other and switch after a few years when they change their mind.

Regardless of our growth, Southwest Florida continues to meet the demand of paradise-seekers around the world.  We are building new homes, expanding roads, opening new gourmet restaurants and high-end shopping boutiques, and supporting amazing educational and cultural development.

So go ahead, pack up that moving truck and come on down. There’s a beautiful sunset waiting!

 

To own your Beautiful Sunset……Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!

How to Prepare for Hurricane Season

How to Prepare for Hurricane Season

Hurricane season is officially from June 1 to November 30 and even in paradise we have to prepare for the possibility of more than just afternoon showers.  Now is the time to review the basics of hurricane preparedness to ensure your piece of Southwest Florida real estate, and your family, stays protected.

Screen Shot 2016-06-02 at 8.41.33 AMIf you are a seasonal resident and have returned north for the summer, it’s still a good idea to review these tips.  At the very least, be sure to check on your homeowner’s insurance as well as whether your home meets cu
rrent hurricane building code standards.  You may also want to check out Closing Your Florida Home for the Summer, which offers additional tips on keeping your home safe and secure while you are away.

The 5 Step Hurricane Prep

  1. The first order of business is knowing your home’s vulnerability to storm surge, flooding, and wind, as well as what evacuation zone you live in. Once you know this information you can develop a realistic evacuation plan that includes meet up points with family and the best routes to follow out of town.
  2. Now is also the time to check on your insurance policy. Flooding is not covered by standard homeowner’s insurance, so make sure you have a separate policy for it and keep in mind that there is a 30 day waiting period before flood coverage kicks in.  Don’t delay on getting this coverage activated.
  3. Another step that it pays to get a jump on, is gathering your supplies. Don’t wait until the storm is on its way.  That’s often when many people flock to stores which only results in long lines and empty shelves.  Get a big container ready with supplies you may need to get through the storm like flashlights and a battery powered radio, as well as enough non-perishable food, water, and medicine to last each family member a week – just in case you are left without electricity and water.  Another good back up item to purchase is a portable or solar powered USB charger to keep cell phones up and running and the lines of communication open.
  4. It’s also a good practice to keep a list of emergency contacts including county law enforcement, fire and rescue, hospitals, utility companies, radio and TV stations, and emergency management offices.
  5. Securing the integrity of your home is another key step toward the safety of your family and belongings. Make sure your home is up to current hurricane building code specifications.  You may be surprised at how easy and inexpensive it is to have the proper hardware retrofitted to board up your home and bring it to a higher safety standard that can withstand the winds of a hurricane.We have been fortunate over the last several years but you never know what the hurricane season may bring.  Proper planning and preparation is essential, but our hope is that this hurricane season will pass by as nothing more than another warm Gulfshore breeze.

We have been fortunate over the last several years but you never know what the hurricane season may bring.  Proper planning and preparation is essential, but our hope is that this hurricane season will pass by as nothing more than another warm Gulfshore breeze.

 

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

 

The Benefits of Smart Home Technology

The Benefits of Smart Home Technology

Imagine you are returning home after an evening out.  The sun has already gone down and just the faintest pink accents remain in the sky.  As you approach your property, the outside lights brighten while inside the perfect ambiance is being staged as you pull in the garage.  The main living areas and foyer illuminate to the perfect welcoming glow and soft music begins playing in the background.  The shades have automatically closed with the setting sun giving you effortless privacy, and the climate has adjusted itself to a comfortable evening temperature.  As you lie in bed, just before you close your eyes, you lean over and gently tap the bedtime button on your iPad.  The lights go down, the security system engages, and you drift off to sleep in time with the music as it gradually fades out to a peaceful silence.

Naples Florida Smart Home
Naples Florida Smart Home

This is just one real-time example of living with today’s smart home technology. The possibilities are really impressive and allow you to not only control systems remotely – from anywhere in the world – but also engage in daily home management actions like answering the door for a delivery when you’re still at the office, checking that the kids are home on time from school, and monitoring family activities and safety when you’re away.  You can also create programmable scenes, monitor energy consumption, manage the health of your pool and spa, and regulate irrigation water.

Total home automation is easier than you think to create.  Old security systems can be converted to updated platforms with top of the line video surveillance, lighting and shading systems can be retrofitted with new communication panels and keypads, and home audio features can be custom installed to be nearly invisible.  Companies like ELAN Home SystemsIntertech Ci, and Honeywell Security offer consultative services to explain the different technologies and hardware and then help you put together the systems that are smart for you.

The convenience of a smart home hinges on the seamless integration of these systems.

  • Security and surveillance
  • Climate control
  • Interior and exterior lighting
  • Music/surround sound and television
  • Flood protection
  • Pool and spa equipment
  • Carbon monoxide detection

And the benefits are a highly adaptable, state-of-the-art, and exceedingly efficient lifestyle.

  • Customized programing
  • Remote access and control from anywhere in the world
  • Increased energy efficiencies
  • Conservation of water through irrigation control
  • Peace of mind

In today’s real estate market, a smart home promises certain comforts that more and more luxury buyers have come to expect.   If you’re interested in seeing some of the most stunning smart homes in Southwest Florida, contact me today.

 

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

 

Market Report for April 2016

 Market Report for April 2016

Naples / Bonita Springs / Estero Market Area

 

CLOSED SALES

Click for Full Report
Click for Full Market Report for April 2016
  •  There were 3,859 closed sales during the first 4 months of 2016, down from  4,799 closings during the same period in 2015.
  • The 9% decline in the number of closed sales over the past 12 months continues to be driven primarily by the 26% drop in sales priced below $250,000. Sales priced between $2 and $5 million remained approximately the same as the prior 12 months.
  • Closed sales priced above $2 million year-to-date fell 20% when compared to the same period in 2015 (155 vs 194).

NEW LISTINGS/INVENTORY

  • Available inventory on May 1, 2016 consisted of 6,810 units, up from 5,030 units on May 2, 2015.
  • During the month of April 2016 there were a total of 1,922 new listings added to the market.  This is the highest for the month since 2010.

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of April increased 5% year-over-year, while median closed price is up 8%.
  • Average price of sales above $2 million increased 2% over the past 12 months, from $3,791,661 to $3,868,535.

12-Month Comparison

NEW LISTINGS/CLOSED UNITS

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AVERAGE SALES PRICES

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Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island or to view the Full Market Reports including Neighborhood Snapshots.

 “The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

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

Who Gained the Most Equity

This Chart Reveals Who Gained the Most Equity

Naples Sunset
Naples Sunset

The average home seller nets about a 23 percent gain in equity from the time they purchase their property – or about $40,000, according to the National Association of REALTORS®. But a closer look at the data reveals that sellers who purchased their home during certain volatile years tend to fare worse than others.

Home owners who purchased their home eight to 10 years ago—from 2005 to 2007, during the height of the real estate bubble—have earned just $3,000 or 1 percent in equity during that time, says Jessica Lautz, NAR’s managing director of survey research and communication. Those home owners may show the most reluctance to sell their homes, and that may be adding to the inventory shortage in many cities, Lautz says.

Take a closer look at NAR’s latest profile of buyers and sellers report at the breakdown below to see who fares the best in the equity picture:

Tenure in Home        Equity Earned          % Gain in Equity

1 year of less                $31,000                           14
2-3 years                       $30,000                           15
4-5 years                       $35,000                           19
6-7 years                       $31,000                           14
8-10 years                     $  3,000                             1
11-15 years                  $38,000                            23
16-20 years                  $95,000                            63
21 plus years              $138,000                        145
All sellers                    $40,000                            23


Source:  Daily Real Estate News, November 18, 2015

 

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

 

The Tennis Club at Sterling Oaks

The Tennis Club at Sterling Oaks – I love playing tennis at Sterling Oaks where tennis is their first priority!  And even tho I live in a community with great tennis facilities I enjoy extending my fun to include a membership in The Club at Sterling Oaks for the great tennis.

The Club at Sterling Oaks
The Club at Sterling Oaks

Only three miles to the white sand beaches of the Gulf, Sterling Oaks is considered one of Naples’ premier tennis communities.

  • 12 Har-Tru courts (10 lighted)
  • Below court watering for better footing and gentler on joints
  • Professionally groomed
  • Shaded seating area between each court
  • Stadium Court for exhibitions and Social Events
  • On-site Pro
  • Private & Group Lessons
  • USTA, COL/LEE, CTA, and USPTA Leagues
  • League Tournaments
  • Social Events
  • Fully Stocked Pro Shop with stringing services
  • Memberships available seasonally & annually and even a Tennis Sampler Package for those visiting the area!

TENNIS DIRECTOR:  Paul Barrus,  USPTA Certified Tennis Professional

 

See some of Naples’ best known players and pros perform their magic in exhibitions on the lighted stadium court at the Club at Sterling Oaks.  Enjoy your favorite beverage served from the Oak Room bar. The public is encouraged to attend. Arrive early for best seats.  Check events calendar for exhibition schedule.

Website: www.SterlingOaksTennis.com

The 2016 West Coast Super Seniors Grand Prix Tournament Sponsored by Hamilton Mikes will be hosted by The Club at Sterling Oaks for the eighth consecutive year. A record number of more than 250 players participated from all over the USA and around the world in last year’s USTA nationally sanctioned event.  Club members take great pride in hosting this heralded event and volunteer in many capacities.  The dates for the upcoming Category II event will be January 24th through February 1st, 2016.

 

Community amenities are open to all & include a Junior Olympic pool, Cabana Grill & Bar, fully equipped fitness center with saunas & locker rooms, 2 Bocce Courts & a 10,000 sq. ft. clubhouse for casual dining & planned activities.

 

The Tennis Club at Sterling Oaks
Resort Pool

Website: www.SterlingOaksTennis.com

 

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

How Will Higher Rates Affect Housing?

Naples, FL Home
Naples, FL Home

Time is ticking: The Federal Open Market Committee is less than a week away from what most analysts predict will be a vote to raise the federal funds rate for the first time since June 2006. An uptick in the federal funds rate would then prompt interest rates to move higher.

Some housing analysts say just the anticipation of the rate hike is already affecting the housing market.

“The housing market’s capacity for existing-home sales is declining with the expectation of a Fed rate increase pre-adjusting mortgage rates and causing a slowdown in house price appreciation,” notes Mark Fleming, chief economist at First American Financial, in a new report on the fourth quarter Real Estate Sentiment Index. “Market capacity remains modestly in excess of actual sales due to leverage-assisted housing asset inflation, which is home price appreciation fueled by low mortgage rates. Rising mortgage interest rates and moderation in house price appreciation were the most important market fundamentals that reduced market capacity this month. Now that interest rates are pre-adjusting in response to signals from the Fed for a highly expected increase in December, demand is also declining.”

A 25-basis point rise in the 30-year fixed-rate mortgage, for example (which was at 3.93 percent for the week ending Dec. 3), would likely slow home appreciation by 1 percent more than expected without the rate increase, Fleming says. He also predicts that existing-home sales would then slow by about 2.5 percent on annualized and seasonally adjusted basis, a decline of less than 150,000 sales a year.

“The housing market isn’t doomed by a Fed rate increase, but demand would fall modestly,” Fleming maintains.

Just how big of an impact could it have to potential home shoppers’ wallets? Forbes.com cites an example of a 30-year fixed-rate mortgage with a 10 percent down payment on a $350,000 home at 4 percent will cost home purchasers about $1,503.86 per month plus taxes, home owner’s insurance and Private Mortgage Insurance. That same 30-year fixed-rate mortgage with a 4.5 percent interest rate will cost a home buyer $1,596.06 per month – an extra $92.20 per month or $33,191.54 over the 30-year life of a mortgage. If rates rise to 5 percent the costs will jump to an extra $184.40 per month and $66,383 over the 30 year life of the loan.

Despite the uptick in rates, “expectations for future home ownership demand remain positive, despite changing market conditions,” Fleming notes.

The First American report showed that interest rates would need to reach 5.1 percent before significantly influencing the volume of residential transactions.

Source: “What Will the Looming Fed Rate Hike Do to Housing?” HousingWire (Dec. 9, 2015) and “How Much House Will a Rate Hike Cost You?” Forbes (Nov. 8, 2015)

 

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Market Report for October 2015

NAPLES / BONITA SPRINGS / ESTERO MARKET AREA

 

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Click for Full Report

CLOSED SALES

  •   Closed sales through October remained approximately the same as the first 10 months of 2014 (11,220 in 2015 vs. 11,327 in 2014).
  •   The number of closings priced at $2 million and above continued at a brisk pace, up 8% year-to-date over the same period 2014, and up 13% over the past 12 months.

 

NEW LISTINGS/INVENTORY

  •   Available inventory in the combined Naples, Bonita Springs, Estero market on November 1, 2015 consisted of 4,637 units (2,666 single family homes and 1,971 condominiums). Available condominium supply declined by 26% from prior year while the supply of single family homes remained approximately the same.
  •   Current inventory represents approximately 4.2 months of supply based on closings for the past 12 months.

 

AVERAGE AND MEDIAN SALES PRICE

    •   The average price of closed sales year-to-date is up 10.5% over the same period in 2014 and median price is up 15%.
    •   Average sale price for properties priced above $2 million increased almost 8% over the past 12 months, driven by high demand in this segment along with an increase in the number of closings above $5 million.

 

12- MONTH COMPARISONS

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Click for full report

 

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

 

“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

 

 

Market Review For Third Quarter 2015

Naples / Bonita Springs / Estero Market Area

 

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Click for Full Report

NEW LISTINGS AND PENDED HISTORY

 A total of 3,832 new properties were placed on the market during the quarter, which is statically the same as the number recorded in the third quarter 2014. Demand remained strong with newly pended sales declining less than 2% year-over-year. (Exhibit 1)

 

CLOSED SALES / AVERAGE SALE PRICE

  •   The number of closed sales appears to have stabilized over the past three years, increasing only 2% since Q3 2013. Closing pace in the third quarter of the year is typically the lowest as it reflects sales that occurred during the non-seasonal months of the year. (Exhibit 2)
  •   Prices continued to escalate for the quarter, with the average closed price up 15.6% over prior year ($504,527 vs $436,446). Median price also increased, up 16% from the Q3 2014 level ($319,000 vs. $275,000). With the overall pricing increasing, we are seeing a larger percentage of homes above $2 million which is impacting average and median prices. (Exhibit 2)

 

INVENTORY / CLOSED SALES / MONTHS OF SUPPLY

  • The available inventory of single family homes, condominiums and villas in the Naples, Bonita Springs, Estero markets declined by 7% from the level a year ago. Inventory at the end of third quarter represented 3.8 months of supply based on the number of closed sales during the past 12 months. (Exhibit 3)
  • The demand for Southwest Florida real estate is expected to remain strong throughout the remainder of 2015 and 2016. Resale listings placed on the market over the next six months, coupled with a healthy supply of new product, should keep inventory at a level consistent with demand.
    A reminder, however, that this is applicable to the market as a whole and not the case in some high-demand market segments, which remain undersupplied as they have for the past year or so.This report is intended to give the reader a broad, general view of the combined Naples, Bonita Springs, Estero market areas. Inventory, price movement and months of supply can vary significantly among neighborhoods. Buyers and Sellers are advised to request current, specific market data for properties of personal interest.

 

 

New Listings and Pended History
New Listings and Pended History

 

Closed Sales / Average Sales Price
Closed Sales / Average Sales Price

 

Inventory / Closed Sales / Months of Supply
Inventory / Closed Sales / Months of Supply

 

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

 

 

John R. Wood Properties
“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Miromar Lakes Beach & Golf Club

Everyday is a vacation at Miromar Lakes Beach & Golf Club where boating, beaches, and championship golf are all within one luxurious setting at Miromar Lakes.

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