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!
Newly built Naples, Florida waterfront mansion sets 2017 record.
Aerial view of Naples, Florida waterfront homes in Port Royal.
A newly built waterfront estate in exclusive Port Royal has set a record as the most expensive home to sell in Naples this year. The waterfront home at 3750 Rum Row fetched $17.7 million, eclipsing last year’s most lucrative sale made through the Naples Area Board of Realtors’ Multiple Listing Service. In 2016 the most expensive home sold in Naples, also in Port Royal, brought a cool $15.15 million.The home was built on speculation, meaning a buyer wasn’t lined up. Designed by Stofft-Cooney Architecture, it was built by BCB Homes in Naples for an internationally based investment group, which put it on the market about six months ago.
The six-bedroom estate features warm interiors by Ficarra Design Associates that accent its modern architectural design. There are eight full-sized bathrooms and two half-sized ones, as well as two laundry rooms and two garages, each one big enough for two cars.
The expansive floor plan includes a grand living room with a fireplace and large floor-to-ceiling windows overlooking the home’s outdoor living space, pool and waterway. Each guest bedroom offers a uniquely designed ensuite, or attached, bathroom.
Other stand-out features include:
- A magnificent foyer adorned with a three-tiered 40-inch-high by 39-inch-deep John-Richard agate sliced chandelier in a gold-leaf finish.
- An artfully designed floating staircase.
- A chef’s kitchen with Bernier cabinets, two Sub-Zero refrigerators and two islands.
- A modern glass wine room that can fit for more than 400 bottles.
- A private boat dock.
Additionally, the home includes a gym, a wine bar, a gaming room, an entertainment area with a 75-inch flat-screen television, and an elevator. There’s also a Nantucket-inspired guest house.
The home sits on nearly an acre of land on the southern edge of Hidden Bay overlooking Man-O-War Cove, with 170 feet of frontage on the bay.
Outside the main home, designers created a tropical oasis for entertaining, dining and hanging out by the pool. There’s an outdoor kitchen with an oversized gas fired barbecue, Evo grill and wine refrigerator.
A saltwater pool offers wide-water views of Man-of-War Cove. A pool cabana includes a full-sized bathroom.
To view homes currently for sale in Port Royal call David at 239-285-1086, or search for homes on David’s website http://davidnaplesmarco.com/
Naples, Fla. (September 16, 2016) – The housing market’s momentum continues to remain strong heading into fall. Upon reviewing the August 2016 NABOR Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), NABOR® broker analysts cited several reasons why buyers and sellers can expect a promising winter season such as the inventory is continuing to increase and the median closed prices are remaining virtually unchanged.
Overall activity of properties in the $2 million and above price category failed to perform as well in August compared to other price categories. However, condominium inventory in this luxury segment of the market increased 84 percent to 81 condominiums in August 2016 from 44 condominiums in August 2015, while its overall median closed price fell 19 percent (year over year) to $2,537,000 in August 2016 from $3,132,000 in August 2015. This behavior of increased inventory and lower prices primes the luxury segment of the market for a season where the number of properties priced right can certainly meet demand.
NABOR® broker analysts suspect some potential buyers of high-end properties may be reluctant to make big financial decisions because of the uncertainty of the economy after the Presidential election. However, as the report indicated, activity in this segment of the market is historically lower than it is during seasonal months. Brokers were quick to point out that this tapering is anticipated during the summer and expect sales in this segment to rise as we move into the next season.
The median closed price for condominiums in this entry-level price category was $193,000. August also saw a 50 percent increase in inventory for condominiums in the $300,000 and below price category to 974 condominiums in August 2016 from 648 condominiums in August 2015.
Overall inventory increased 36 percent for the second month in a row to 4,787 homes in August 2016 from 3,525 homes in August 2015. In fact, while inventory rose in all price categories for both home types, the overall median closed price remained flat in August, with the exception of homes in the $300,000 and below price category, which increased 9 percent to $210,000 in August 2016 from $192,000 in August 2015.
The NABOR® August 2016 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® August 2016 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
|
CATEGORIES
|
August 2016
|
August 2015
|
CHANGE
|
| Total homes under contract (pending sales) |
734
|
811
|
-9%
|
| Total closed sales |
654 |
689 |
-5% |
| Median closed price |
$320,000 |
$306,000 |
5% |
| Total active listings (inventory) |
4,787 |
3,525 |
36% |
| Average days on market |
88 |
75 |
13% |
| Single-family closed sales |
350 |
348 |
1% |
| Single-family median closed price |
$384,000 |
$388,000 |
-1% |
| Single-family inventory |
2,554 |
2,025 |
26% |
| Condominium closed sales |
304 |
341 |
-11% |
| Condominium median closed price |
$232,000 |
$235,000 |
-1% |
| Condominium inventory |
2,233 |
1,500 |
49% |
Geographically, overall closed sales in East Naples increased 10 percent to 136 homes in August 2016 from 124 homes in August 2015. Also impressive was the 12 percent increase in single family closed sales in the East Naples area to 91 homes in August 2016 from 81 homes in August 2015, and a 72 percent increase in condominium inventory in North Naples to 639 condominiums in August 2016 from 371 condominiums in August 2015.
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 5,000 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.
View August 2016 Market Statistics
RISMEDIA, Saturday, May 28, 2016— Pending home sales rose for the third consecutive month in April and reached their highest level in over a decade, according to the National Association of REALTORS®. All major regions saw gains in contract activity last month except for the Midwest, which saw a meager decline.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, hiked up 5.1 percent to 116.3 in April from an upwardly revised 110.7 in March and is now 4.6 percent above April 2015 (111.2). After last month’s gain, the index has now increased year-over-year for 20 consecutive months.
Lawrence Yun, NAR chief economist, says vast gains in the South and West propelled pending sales in April to their highest level since February 2006 (117.4). “The ability to sign a contract on a home is slightly exceeding expectations this spring even with the affordability stresses and inventory squeezes affecting buyers in a number of markets,” he says. “The building momentum from the over 14 million jobs created since 2010 and the prospect of facing higher rents and mortgage rates down the road appear to be bringing more interested buyers into the market.”
On the topic of mortgage rates, which have remained below 4 percent in 16 of the past 17 months, Yun says it remains to be seen how long they will stay this low. Along with rent growth, rising gas prices – and the fading effects of last year’s cheap oil on consumer prices – could edge up inflation and push rates higher. For now, he foresees mortgage rates continuing to hover around 4 percent in the coming months, but inflation could potentially surprise the market and cause rates to increase suddenly.
Adds Yun, “Even if rates rise soon, sales have legs for further expansion this summer if housing supply increases enough to give buyers an adequate number of affordable choices during their search.”
Following the housing market’s best first quarter of existing-sales since 2007 (5.66 million) and a decent increase (1.7 percent) in April, Yun expects sales this year to climb above earlier estimates and be around 5.41 million, a 3.0 percent boost from 2015. After accelerating to 6.8 percent a year ago, national median existing-home price growth is forecast to slightly moderate to between 4 and 5 percent.
The PHSI in the Northeast climbed 1.2 percent to 98.2 in April, and is now 10.1 percent above a year ago. In the Midwest the index declined slightly (0.6 percent) to 112.9 in April, but is still 2.0 percent above April 2015.
Pending home sales in the South jumped 6.8 percent to an index of 133.9 in April and are 5.1 percent higher than last April. The index in the West soared 11.4 percent in April to 106.2, and is now 2.8 percent above a year ago.
“This report rounds out a triple crown of April home sales reports with existing home closings, new pending contracts, and new home sales all solidly up as the spring buying season ramped up,” says realtor.com chief economist Jonathan Smoke. “Across these metrics, the pace of total home sales is up more than 10 percent over last year, putting 2016 in the pole position to earn the standing of the best year in a decade.”
For more information, visit www.realtor.org.
Highlights from the NABOR® Economic Summit Event
Naples, Fla. (May 2, 2016) – More than 400 REALTORS® and real estate professionals interested in the economic health of Collier County attended the Naples Area Board of REALTORS® (NABOR®) 2016 Economic Summit, “The New Future: A View from the Top,” on Thursday, April 21, 2016 at the Hilton Naples. Three guest speakers provided national, state, and local analysis of recent growth and home sales activity as well as predictions of what to expect in the next 12 months.
Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., set the tone of the conference when she asserted, “I’m a truth teller!” The audience’s familiarity with Carroll’s wit brought laughs, but the comment wasn’t in vain as her reputation in deciphering predictive patterns in market behavior commands serious respect. Carroll’s presentation reflected the First Quarter 2016 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
“My headline for March would be ‘Inventory is up 35 percent over the last 12 months,'” said Carroll, who added that it fell 22 percent between March 2013 and March 2014, but only fell 1 percent between March 2014 and March 2015. “Anytime there is less than 6 months worth of inventory, prices go up. But we’re currently at 7.3 months of inventory and the report shows very little movement in price. When we get to 9 months, price increases will most likely really slow down. When we achieve a years worth of inventory – what I consider a balanced market for our area – then we’ll start to see pricing mature anywhere between 4 to 8 percent.” Carroll added that if the Naples area ever achieves 2 years worth of inventory (something it experienced in 2006) again, then we may begin to see signs of value erosion.
Where is all this inventory? “Not in the $0 to $300,000 single-family home market,” said Carroll. “This segment’s inventory is down 10 percent and its median closed price is up 15 percent. Inventory in all other price categories within the single-family home market increased from 18 to 42 percent.”
According to Carroll, in December 2010 the median closed price for the single-family home market broke $300,000. The under $300,000 market consumed 44 percent of the market then. Now, it makes up only 12 percent of the market. Interestingly, the median closed price in the condominium market broke $300,000 in December 2013. But today the median closed price in the condominium market is $252,000. For perspective, condominiums in the $0 to $300,000 price category represented 59 percent of the condo market in December 2010. Now, they are only 48 percent of what’s available.
Carroll said there appears to also be an exodus to the Ave Maria area as the single-family home median closed price rose 105 percent in that area. “Buyers seeking affordable housing are going East!”
Most neighborhoods west of U.S. 41 exceeded or are nearing a stable market level of one year of inventory. Meanwhile, a severe shortage of supply persists in the entry-level markets of Golden Gate City and Naples Manor.
When Mike Timmerman, President and CEO of MJT Realty Economic Advisors, took the stage, he said the speculative home market in neighborhoods nearest U.S. 41 had peaked about a year and a half ago. “There is a 60-month supply of new product in Pine Ridge,” he said. “And the Park Shore and Moorings neighborhoods are in a major redevelopment phase too.”
One big change Timmerman likes is the new architectural designs being chosen. “Instead of the Mediterranean style home, we are now seeing homes in Neo-classical styles.”
Between 2014 and 2015, developers added 3,500 new units around Collier. “There’s now an excess supply and we are starting to see communities offer incentives again,” said Timmerman. “But it’s unclear what effects this election year will have on out-of-state buyers next season.”
Timmerman concluded with a few predictions:
- The current pace of redevelopment will create more price reductions,
- High rise development will see a resurgence,
- REALTORS® will see more incentives from community developers, and
- Communities will introduce more multi-family product.
Despite commenting that spending in the upper-end of the market is sensitive to an election cycle, Dr. Lawrence Yun, PhD, Chief Economist National Association of Realtors® (NAR®) said, “The wealthy are looking for great options and this area has them.”
“Lifetime wealth is at an all time high,” said Yun, who added that middle America’s income is falling.
“Corporations are sitting on cash and this lack of infusion into the market is why growth is sluggish.”
Yun went on to add that, “Homeownership is near a 50-year low, but home sales are rising nationally. “Young people are struggling to get in the market, but the new tight lending standards are hammering Millennials and, saddled with too much college student loan debt, they can’t qualify for home loans.”
Vacation home sales surged in 2014 according to Yun, and he sees pending sales holding steady nationally for now. “Mortgage rates will go up moderately,” said Yun, adding that the Federal Reserve may increase interest rates twice this year and up to four times in 2017.
In closing, Yun said builders in Florida are not adding product fast enough and this will create a pinch in an already tight rental market, where rates will continue to rise.
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.
