Treviso Bay of Naples is now offering all new Terrace Condo floor plans with upgraded interior finishes! These homes will be the only ones like it in the entire community!
The Carolina, Birkdale, and Arbor will now replace the previous floor plans; The Celiana, Bellini, and Antonia. These condos have been modified to offer a more modern touch and open concept feel!
If you have any questions or would like more information on these new homes, please contact David at 239-285-1086 or David@DavidFlorida.com!
Naples Area Board of REALTORS® Economic Summit Experts Predict Naples Area Market Prime for Growth
Naples, Fla. (May 11, 2017) – More than 400 REALTORS® and real estate professionals interested in the economic health of Collier County attended the Naples Area Board of REALTORS® (NABOR®) 2017 Economic Summit, “The New Future: A View from the Top,” on Wednesday, April 26, 2017 at the Hilton Naples. Three industry experts provided national, state, and local analysis of recent and future growth projections in home sales and business growth activity as well as predictions on what to anticipate from lending institutions and federal regulators in the next 12 months. (see gallery of photos below)
“It looks like we turned a corner,” said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., who presented a detailed analysis and comparative review of local housing sales activity. “In the last 12 months we’ve seen inventory increase 23 percent, but that is lower than the previous year, which saw a 35 percent increase. Our inventory may be slowing, but we still have an eight month supply of homes for sale.” Carroll considers a 12-month supply of homes in Collier County a balanced market.
With decades of experience that builds on a family legacy in the real estate appraisal business, Carroll combined her earned wisdom with data collection from the First Quarter 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), and reports generated from the Southwest Florida Multiple Listing Service (MLS), to ascertain a long-view of market behaviors. During her presentation, she shared a surplus of data from these reports and her own conclusions including:
- The Crayton/Moorings Park/Coquina/Park Shore area is saturated with new construction speculative home projects that have resulted in a 2.94 years supply of this type of home in this area;
- The $0 to $300,000 segment of the condominium market makes up 47% of the total condominium inventory. Overall condominium inventory is up across the board geographically with the greatest increase showing up in the North, Central and South regions; and
- That 58 percent of the active listings located in the Golden Gate Estates area off Everglades Boulevard and north and south of Golden Gate Boulevard are priced at or below $300,000.
Next to take the stage was Mark Strain, Chairman of the Collier County Planning Commission, who immediately engulfed the audience with county growth projections and proposed redevelopment and housing expansion plans. Strain’s data was extrapolated from government databases and provided an overarching look at the county’s framework for growth.
“We are wealthiest county in Florida with an average per capita income of $78,000,” said Strain. “Our population has increased over 10.7 percent between the years 2010 to 2016. At this rate, we will reach maturation in the year 2030.”
An audible gasp was heard from the audience when he revealed that 32 residential developments were approved in the last year, amounting to an additional 4,182 new lots for sale. He also reported 76 new commercial developments approved in 2016, and 56 senior living facilities currently existing with an additional 13 planned but not yet built.
“The Immokalee Road/I-75 and Collier/US 41 corridors are the fastest growing areas in the county,” added Strain. “And a recent request to change the building height limits at the entry to the City of Naples may produce some rapid new construction, as laid out in an ambitious redevelopment plan for the Gateway Triangle area.”
Rounding out his presentation, Strain shared with the audience that Collier County has one of the lowest crime rates in the state despite its rapid population growth (Collier saw a 5 percent reduction in crime in 2015 followed by a 7.8 percent reduction in 2016). Also, as we continue to grow there are over a dozen additional schools planned at all grade levels throughout the critical growth areas of the county.
Vanderbilt Beach | photo: proshob
Project would include 18-story tower
by LAURA LAYDEN
A well-known Naples developer is looking to build its first high-rise residential tower near Vanderbilt Beach. The 18-story residential building is planned by an affiliate of Stock Development. It would be built over three stories of parking, giving it added height. The tower would be part of a mostly residential luxury project that would transform the northeast corner of Vanderbilt Beach Road and Gulf Shore Drive. Dubbed One Naples, it would have 300 residences, with the other units offered in low- and mid-rise buildings of up to five stories.
The developer will hold a public meeting about the project Wednesday at The Ritz-Carlton beach hotel in North Naples from 5:30 p.m. to 7 p.m. in the Plaza Ballroom. The mixed-use project will require a rezoning and growth plan amendment, but Stock Development hasn’t applied for the changes yet. The developer has the land under contract.
The current zoning of C-3 allows for much more intensive development, far beyond what’s on the seven-acre site, comparable to Mercato or Venetian Village, said Claudine Leger-Wetzel, a vice president of sales and marketing for Stock Development. The current zoning allows for such uses as gas stations, bars, drugstores and movie theaters, as well as shopping centers. Up to 175,000 square feet of commercial development could be built on the land, which wouldn’t look as good as Naples One and would generate a lot more traffic, Leger-Wetzel said.
Rather than waiting to talk to neighbors after applying for the rezoning with Collier County, Stock Development decided to take a more proactive approach in sharing information and getting input in advance of the formal application, which it expects to make later this month, Leger-Wetzel said. “We’re invested in the community and we believe it’s a good use of the site and will enhance the area,” she said.
It would be a redevelopment project, replacing several older buildings, most of which are more than 30 years old.
The Beach Box and Beach Store would not remain as part of the new project. These neighbors would not be affected: Barefoot Pelican, DaRuMa, Vanderbilt Palms, and Buzz’s Lighthouse Restaurant & Inn. The new development would include 25,000 square feet of retail space. Planned tenants include a South Bay Realty office, a coffee shop, deli and restaurant. A marina on Vanderbilt Lagoon also would be a part of the project.
The development would be built in phases. The approval process is expected to take nine to 12 months, with presales anticipated to start in 2019.
Stock Development sent out 4,500 invitations to area residents for this week’s public meeting, which will be one of several, Leger-Wetzel said. Since word is just getting out about the project, it’s unclear how much opposition it could face.
Although it would transform the property, especially with the addition of a high-rise, Keith Gelder, a vice president of land development for Stock Development, said it’s surrounded by tall buildings, so it wouldn’t be out of character for the neighborhood. “There are quite a few to the south of us,” he said. Nearby buildings include the 13-story Ritz-Carlton, 19-story Trieste and 21-story Remington at Bay Colony.
Don’t want to wait 2+ years to buy a condo in Naples-Bonita Springs-Marco Island area? To view homes currently for sale in southwest Florida call David Critzer at 239-285-1086, or search for homes on David’s website http://davidnaplesmarco.com/
BY: JANN SWANSON www.mortgagenewsdaily.com Apr 5 2017, 7:45AM
Purchase index vs 30 year fixed – mortgagenewsdaily.com
The volume of purchase mortgages continued to increase during the week ended March 31, but steadily shrinking refinance numbers once again pulled overall volume down. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application activity, declined for the third straight week, decreasing by 1.6 percent from the previous week on a seasonally adjusted basis. On an unadjusted basis the Index fell by 1 percent.
The Refinance Index lost another 4 percent on top of 3 percent losses in each of the previous two weeks. The refinance share of all loan applications decreased to 42.6 percent from 44.0 percent.
The Purchase Index gained 1 percent on both an adjusted and an unadjusted basis compared to the volume during the week ended March 24. The adjusted index has risen in five out of the last six weeks. Purchase volume was up 8 percent compared to the same week in 2016. The average loan size for purchase applications reached a survey high at $318,200.
Adjustable-rate mortgage (ARM) applications had an 8.5 percent share of the total, unchanged from a week earlier. The FHA share of total applications increased to 11.1 percent from 10.8 percent and the VA share ticked up 0.1 percentage point to 11.1 percent. USDA applications held steady at a 1.0 percent share.
Average contract interest rates were mixed during the week, but effective rates were all lower than the week before. The average contract rate for 30-year fixed-rate mortgages (FRM) with conforming loan balances ($424,100 or less) increased to 4.34 percent from 4.33 percent. Points decreased to 0.31 from 0.43.
The jumbo version of the 30-year FRM, loans with balances greater than $424,100, had an average rate of 4.24 percent, down 2 basis points from the previous week. Points dipped to 0.24 from 0.26.
FHA-backed 30-year FRM had an average contract interest rate of 4.15 percent with 0.32 point. A week earlier the rate was 4.24 percent with 0.36 point.
The average contract interest rate for 15-year fixed-rate mortgages was unchanged at 3.57 percent. Points dropped to 0.38 from 0.43.
The average contract interest rate for 5/1 ARMs rose 3 basis points to 3.33 percent. Points were down to 0.13 from 0.28.
MBA’s Weekly Mortgage Applications Survey has been conducted since 1990. It covers over 75 percent of all U.S. retail residential mortgage applications with respondents that include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100 and interest rate data assumes mortgages with 80 percent loan-to-value ratios and points that include the origination fee.
nerdwallet mortgage rate index
HAL M. BUNDRICK, CFP |nerdwallet.com
April 4, 2017 Mortgage Rates, Mortgages
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Mortgage rates moved lower again today as 30- and 15-year fixed home loans, as well as 5/1 ARMs, all fell, according to a NerdWallet survey of current mortgage rates published by national lenders Tuesday morning.
Without major news or economic reports to account for the move, analysts are attributing the interest rate decline to beginning-of-the-month institutional portfolio rebalancing. Traders buying bonds in large volume drove prices up — which caused yields to fall.
Fixed-rate mortgages are at their lowest point since the week of Nov. 21, 2016, according to the NerdWallet Mortgage Rate Index.
MORTGAGE RATES: TUESDAY, APRIL 4:
(Change from 4/3)
30-year fixed: 4.22% APR (-0.07)
15-year fixed: 3.62% APR (-0.04)
5/1 ARM: 3.81% APR (-0.02)
Naples, Fla. (June 16, 2017) – Record-breaking rain fall in June did not dampen buyer interest in the Naples housing market as evidenced in the Second Quarter and June 2017 Market Reports released by the Naples Area Board of REALTORS® (NABOR®), which track home listings and sales within Collier County (excluding Marco Island). The 2Q report showed strong and steady sales activity leading into summer with a 7 percent increase in overall closed sales to 2,880 closed sales in 2Q 2017 from 2,704 closed sales in 2Q 2016, and a 9 percent increase in overall closed sales for the month of June to 907 closed sales from 832 closed sales in June 2016.
