Click here to view online with images.
 
 

DECEMBER 2018

 

Whether you are looking to buy or sell, I can offer the highest levels in real estate expertise and professionalism. Don’t hesitate to contact Cindy or Brent and allow us to help guide you through that process!

Brent Jeansonne M.S. and Cindy Oneto Jeansonne
Sales Professionals- Lely Resort Specialist
Brent: 
brent.jeansonne@yahoo.com   |   504-458-1205                                                           

Cindy: loneto@comcast.net  |  239-784-9229
http://www.TeamPlatinumofNaples.com

Visit me on FacebookVisit me on TwitterVisit me on LinkedInVisit me on YouTubeVisit me on InstagramVisit me on Pinterest
 
 

NAPLES AREA - REAL ESTATE UPDATE

CLOSED SALES - INVENTORY AND MEDIAN CLOSINGS

October Housing Market Activity ...                is Strong Naples, Fla.

(as per November 16, 2018)

CLOSED SALES

  • Closed sales of homes in the Naples market
  • Increased 20%
  • October 2018 - 674 sales
  • October 2017 - 561 sales

The last few months have seen not only a return to a steady housing market for Naples since Hurricane Irma, but also an increased buyer appetite for homes in Collier County.

 

INVENTORY

  • Increased 20% to 5,992 homes
  • The highest October inventory level since 2012
  • This is good news for buyers according to leading broker analysts who reviewed the October 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

BILL COFFEY: While buyers struggle to find inventory in other highly desirable locations across the country, this is not the case in Naples. “We have almost 7.5 months of inventory,” said Bill Coffey, Broker Manager of Amerivest Realty Naples. “In fact, inventory for single-family homes under $300,000 grew by 79 percent to 483 homes in October!”

CINDY CARROLL: Cindy Carroll, SRA, of Carroll & Carroll Appraisers & Consultants, LLC, believes the spike in inventory during October is a reflection of the market’s recovery after Hurricane Irma in September 2017. “There are some neighborhoods where I still see an oversupply in the spec home market, but I’m also seeing inventory begin to tighten in very desirable areas west of U.S. 41.

JEFF JONES: According to Jeff Jones, Managing Broker for Engel & Völkers Naples and Bonita Springs offices, “About 10 percent of the new inventory in our MLS during October was new construction. A good portion of this building is taking place in East Naples [Eastern Collier County], which had the highest singlefamily home inventory reported in October. Builders also tell me that over 80 percent of their inventory is sold by REALTORS® rather than the builders’ sales staff.

Historically, inventory begins to increase in October in preparation of seasonal visitors entering Naples’ prime home-selling season.

 

OVERALL PENDING SALES

  • For October 2018
  • $1-2 million price category
  • Were up 17%, reporting the highest increase (39 percent) for the month compared to October 2017.

 

MEDIAN CLOSED PRICES

NAPLES AREA (OVERALL)

For homes in the $300,000 - $400,00 range, the October report also showed the overall median closed price increase.

  • October 2017 - $342,000
  • October 2018 - $344,000, a 1% increase.

For homes in the $400,000 - $500,000 range, there was a 1% decrease.

  • October 2017 - $480,000
  • October 2018 - $475,000, a 1% decrease.

NAPLES BEACH AREA

Interestingly, the median closed price in the Naples Beach area decreased 13%.

  • The median closed price decreased 13%
  • October 2017 - $682,000
  • October 2018 - $595,000, a 13% decrease

12 MONTH MEDIAN (Ending in October 2018) – NAPLES (OVERALL)

  • The median closed price increased 4%
  • January - October 2017 - $330,000
  • January - October 2018 - $344,000

12 MONTH MEDIAN (Ending in October 2018) – NAPLES BEACH AREA

  • The median closed price increased 4%
  • January - October 2017 - $763,000
  • January - October 2018 - $790,000 

Added Carroll, “In addition to predictions that our inventory will continue to increase as we approach the winter season, giving home buyers more choices, we also saw the passing of Amendment 2, which put a permanent cap of 10 percent on annual non-homestead property assessment increase, keeping a reasonable protection for home owners in place. Along with a trend for home sellers to price properties realistically, these factors should inspire even more buyers of second-home properties in the coming months to make their purchase decision this season while all these factors work in their favor.”

Increased inventory is expected to lead to increased sales. Higher volume sales during our peak selling months during season is important for both homebuyers and sellers. For home buyers, it means a higher likelihood of finding the right property. For home sellers, it means shorter marketing time and a higher likelihood of finding a buyer.

A REALTOR® can also ensure your next purchase in the Naples area is a success. Search for your dream home and find a Naples REALTOR on Naplesarea.com. The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 6,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers. The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

Sources: Contacts: Brenda Fioretti, NABOR® Media Relations Committee Chair, (239) 597-1666 Marcia Albert, NABOR® Director of Marketing, (239) 597-1666.

https://www.nabor.com/clientuploads/Market%20Statistics/October%202018%20Stats/Print_this_article.pdf

If you are looking to sell a home in Naples, contact a REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price.

Naples Florida has been a very active market for a "tropical Floridian life-style". Because of its popularity, the market activity is predicted to grow each year. Whether you just want to vacation, live or invest in sunny Florida, Naples has to offer you a fantastic package!  Year-round pleasant temperatures, beautiful tropical landscaping, white sandy beaches,  fine dinning and shopping and so much more are a few gifts that Naples has to offer you.  The season is now in full swing and the inventory of fine Floridian estates, single family homes, town homes, condo's are currently abundant.  So, please come and visit and take a tour. 

"Discover Your Dream" by contacting Brent Jeansonne (504) 458-1205 and Cindy Oneto Jeansonne (239) 784-9229 BHHS - Florida Realty - Lely Resort Specialist (Team Platinum of Naples - Presidents Circle and Multi-million dollar producing team) to tour any of the fine homes in the Naples area.

naples florida area - real estate activity - october

Excellent Market Opportunity in Naples, Florida

"DISCOVER YOUR DREAM" in Naples, Florida

Overall Inventory - 5992

Overall Pending Sales - 730

Days On The Market - 93 days

Closed Sales (Overall) - 674

Closed Sales SFH - 366

Closed Condo's - 308

Median Closed Price $344,000 (October)

NAPLES florida AREA - REAL ESTATE ACTIVITY - 3rd Qtr. 2018

Excellent Year in the Real Estate Market in Naples, Florida

A very healthy realestate market in Naples, Florida!

"DISCOVER YOUR DREAM" in Naples, Florida.

 (Jan-Oct 2018)

Overall Inventory - 4,776

Overall Pending Sales - 2,014

Days On The Market - 98 days

Closed (Overall) - 2,032

Closed SFH - 979

Closed Condo's - 1,053

Median Closed Price - $330,000

BUYERS’ ADVICE

Five Tips To Buying In A Fast Market

If you're a buyer in a hot housing market, you may have already lost out on several homes already. How can you get the upper hand? Here are five tips:

  1. Get preapproved by a lender. Sharing financial information your lender requests will get you preapproved. You'll know the limits on how much home you can afford, how much money to put down, and what your interest rate will be. A preapproval letter will assure the seller that you're ready to buy.
  2. Trust your real estate professional. Your Berkshire Hathaway HomeServices network professional knows the market, can feed you new listings that fit your criteria, and has many contacts to learn about homes coming onto the market which you wouldn't get to see otherwise.
  3. Make a realistic must-have list. Pick a neighborhood, house type and price range with a limited number of features. Be prepared to make compromises - smaller, fewer bedrooms or baths.
  4. Consider less-than-perfect homes. Buying the worst house on the best block is a proven strategy. A home that needs repairs and updates will sell at a discount to other homes. Bringing your home up to the neighborhood standards is a quick route to building equity.
  5. Buy under your means. If you get into a bidding war, you'll need a little wiggle room so you can compete. Many homes will sell above list price, so it's smart to keep your cool because you know you can go up if you need to.

MORTGAGE ADVICE

Don't Worry About Rising Interest Rates

National average 30-year fixed rate mortgage interest rates have been close to or well under four percent for nearly a decade. They should stay that low forever, right?

Don't bet on it. Low unemployment, rising salaries, fears of inflation and an increasing federal deficit are among many reasons why interest rates are expected to rise in 2018. What happens is that the Federal Reserve raises overnight borrowing rates to banks, causing banks to pass those higher costs onto borrowers. Car loans, credit cards and mortgage loans become more expensive.

But don't let rising rates discourage you from buying a home. While you're going to pay more for your loan in interest, with a correspondingly higher monthly payment, you're getting higher standard tax deductions in 2018 ($13,000 to $24,000 for couples filing jointly, $6,500 to $12,000 for single filers.) Child care credits are more generous, and your mortgage interest payments are still tax deductible, up to loans of $750,000 or more.

According to the mortgage calculator at Bankrate.com, a home purchased by a borrower with excellent credit for $400,000, with 20 percent down ($80,000) and a benchmark 30-year fixed-rate mortgage at 4%, would have a monthly payment of $1527.73. If rates hit 4.5%, the same borrower would pay $1621.39 monthly, or a difference of about $94. Roughly, every increase of an eighth of a point translates to a little less than $25 per month more in your payment. As always, consult your tax professional for specific advice.

Compared that to the tax breaks you're getting, you're ready to go.

SELLERS’ ADVICE

Five Must-do Improvements For Resale

Most buyers want a move-in ready home that's clean, updated and functional and they're willing to pay more to get what they want. Here are just a few improvements you can do that will go a long way with buyers.

  1. Update the finishes. If you're going to improve a room, update everything, even the light switches. Get rid of popcorn ceilings, which are universally reviled by buyers. If you have wood floors, pull up your old carpet and polish the wood until it gleams.
  2. Reconvert the conversions. Conversions are usually awkward, such as garages turned into living spaces. The house and garage elevations are rarely the same, the driveway leads nowhere, and there's no place to park cars away from the next hailstorm. Offer to reconvert on request.
  3. Paint neutrally. Nothing improves a home like fresh paint. Your Berkshire Hathaway Home Services network professional can help you choose sellable colors and finishes.
  4. Fix obvious problems. If you can see it, your buyer will see it, too, so fix the sticking door, the running toilet, the leaky faucet, the busted sprinkler head, the wobbly ceiling fan, the loose doorknob, and so on. Buyers are so turned off by dirt, so plan to deep clean every nook and corner.
  5. Say "Welcome!" with curb appeal. Fresh modern paint on the front door, a new welcome mat, potted flowers, shiny new porch lights all show pride of ownership - something you want your buyers to feel, too.
 
 
Share this with someone:


621 5th Avenue So. Naples, FL 34102

©2024 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.