Southwest Florida Real Estate

Southwest Florida Real Estate

Lake and condos at Imperial Golf Estates in Naples, FloridaSizzling market is about to get hotter 

By June Fletcher Naples Daily News

The housing market in Southwest Florida has been red-hot for the past three years. Now it’s about to get blistering.

That’s the conclusion of a new second quarter survey by Local Market Monitor that predicts the Naples-Marco Island area will have the highest cumulative gain in one-to four family home prices — 41 percent — over the next three years of any of the 20 Florida metropolitan statistical areas it tracks.

And it’s up considerably from the 29 percent three-year projection the 25-year-old Cary, N.C.-based real estate research firm made in the second quarter of 2014.

“That’s a big increase,” said Ingo Winzer, president and founder of the firm, which tracks 315 markets nationwide. “You’re looking at a real phenomenon.”

He forecast the giant gain after looking at recent data pointing to a growth in jobs, a shortage of both new and resale homes, and the relatively small number of foreclosed homes on the market.

“There’s been a surge in demand of people who aren’t just visiting but want to live full-time in Naples,” he said. “I think it will continue.”

Naples Real Estate Market Statistics

Naples Real Estate Market Statistics

NABOR Market Report logoNaples Real Estate Market – NABOR Report February 2015 Real Estate Transactions | NABOR Report Indicates Healthy Market Trends Continue

Naples Area Board of REALTORS® compiles and publishes monthly, quarterly and annual Naples real estate market statistics. Calculations are based on Naples real estate property listings that exist within the Southwest Florida MLS. Only properties in Collier County, excluding Marco Island, are included.
Release Date: Friday, March 20, 2015
  • Pending Sales decreased 14% in the $0-$300K price category and increased 12% in the $300K-$500K price category 12-months ending 02/2015
  • Closed Sales increased 14% in the $1M-$2M price category and 13% in the $2M+ price category 12-months ending 02/2015
  • Median Closed Price increased 20% in the $2M+ price category 12-months ending 02/2015
  • Inventory decreased 24% in the $0-$300K price category and increased 15% in the $300K-$500K price category 12-months ending 02/2015

50 Shades of Selling: Use Color Psychology to Market Your Home

paint color stripsColor psychology may be an important factor when you market your home.

From seeing red to feeling blue, color plays a big role in our emotions. Some colors make us feel happy or relaxed, while others can make us feel anxious. When you’re selling your home, the colors you choose can play on potential buyers’ memories and emotions, changing the way they see your home.

Use color psychology to market your home, and the next color you might see is green.

Read complete article on realtor.com

30-Year Fixed Mortgage Rate at Lowest Level in 19 Months

house keys lying on house blueprintsRISMEDIA, Wednesday, December 03, 2014

The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 3.76 percent, down one basis point from this time last week. The 30-year fixed mortgage hovered around 3.75 percent last week before settling at the current rate.

“Rates continued to slide last week, and are now down more than a half of a percentage point from their mid-September peak,” said Erin Lantz, vice president of mortgages at Zillow. “Strong economic data suggests rates should move higher, but weak demand for new loans has kept rates low. This week we expect to see some volatility as markets react to Friday’s job report, but anticipate rates to increase modestly by week’s end.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site, and reflect the most recent changes in the market.

These are not marketing rates, or a weekly survey.

The rate for a 15-year fixed home loan is currently 2.97 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.76 percent.

Purchase Mortgage Application Activity

Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 15 percent from the week prior. Zillow combines loan requests made on Zillow Mortgages last week with the previous week’s Mortgage Bankers Association (MBA) Weekly Application Index to predict the MBA’s Weekly Application Index for purchase loans, which will be released tomorrow.

For more information about this prediction, visithttp://www.zillow.com/research/mortgage-app-index-part-one-7016/.

States’ rates are available at: http://www.zillow.com/mortgage-rates.

Naples Real Estate Market Statistics

3rd Quarter Inventory Remains Tight

NABOR Market aReport logoA service from the Naples Area Board of REALTORS® Naples, FL (October 17, 2014)

Limited inventory continues to be the story of the Naples area real estate market, according to the third quarter report released by the Naples Area Board of REALTORS® (NABOR®). Inventory of existing homes decreased 9 percent from 4,080 homes available in the 3rd quarter of 2013 to 3,702 homes in the 3rd quarter of 2014. This tight inventory affected sales activity as demonstrated by a 10 percent decrease in pending sales from 2,548 in 3rd quarter 2013 to 2,304 pending sales in 3rd quarter 2014; and an 11 percent decrease in closed sales from 2,339 in 3rd quarter 2013 to 2,093 closed sales in 3rd quarter 2014.

Contrary to the reduction of pending and closed sales in the 3rd quarter of 2014, real estate agents across Collier County reported being very busy keeping up with the growing demand. This anomaly, as confirmed by a panel of brokers analyzing the NABOR® 3rd Quarter 2014 Naples area market statistics, is likely a result of the market experiencing an influx of new home construction that, while not reported in the Southwest Florida MLS, has replenished the void resulting from a decreased inventory in the resale market.

Pat Pitocchi, NABOR® president and corporate trainer at Downing-Frye Realty said, “The market report does a good job at showing us a big picture view of how the resale market in Collier is behaving in general. However, it does not report all new homes sales, which appears to be a considerable segment of the current market activity according to reports from local brokers.”

Wes Kunkle, a commercial broker at Kunkle Realty, pointed out that the 21 percent decrease in overall pending sales in the $300,000 and below market drove the overall 10 percent decrease. “Overall pending sales in every price segment over $300,000 increased in the third quarter 2014. Overall closed sales increased in two of the five price segments, $300,000 to $500,000 and $1 million to $2 million, as well.”

The NABOR® 3rd Quarter 2014 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® 3rd Quarter 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

  • Pending sales of single family homes over $2 million increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
  • Pending sales of condominiums between $1 million and $2 million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd quarter 2014.
  • Overall closed sales in the $300,000 to $500,000 category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd quarter 2014.
  • Overall closed sales in the $1 million to $2 million category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd quarter 2014.
  • Overall median closed price increased 13 percent from $234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
  • Overall median home price of homes over $300,000 decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd quarter 2014.
  • Overall inventory decreased 9 percent from 4,080 homes in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
  • Overall inventory of single family homes in the $300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter 2013 to 487 in 3rd quarter 2014.

NABOR® also released its September 2014 Market Report, which revealed the following:

  • Overall pending sales increased 2 percent from 810 in September 2013 to 829 pending in September 2014.
  • Overall closed sales decreased 3 percent from 9,919 in the 12-months ending September 2013 to 9,585 closed sales in the 12-months ending September 2014.
  • Overall median closed price increased 14 percent from $230,000 in the 12-months ending September 2013 to $262,000 in the 12-months ending September 2014.
  • Overall inventory decreased 9 percent from 4,080 in September 2013 to 3,702 in September 2014.

Broker analysts agree that new construction within the last year is a welcome addition to the Collier County housing market.

With guidance from a local REALTOR®, buyers can discover opportunities and ensure their sale or purchase is a success within both the new home and resale markets.

 

View 3rd Quarter 2014 Market Statistics | View September 2014 Market Statistics
To view the entire report, visit www.NaplesArea.com
Staging Mistakes that Will Sabotage Your Home Sale

Staging Mistakes that Will Sabotage Your Home Sale

bright Florida living room, high ceilings, tall windows, view of turquoise swimming poolBy Deanna Lawley | RISMEDIA, Friday, October 03, 2014

According to the Real Estate Staging Institute, a staged home sells 70 percent faster than a non-staged home. Are your listings staged to sell? Or are you sabotaging the sale? Expert stagers share the most common staging mistakes below. Help your sellers avoid these mistakes so you can sell their home faster.

1. Mistake: Not creating space. “People often move because they want more room, so make sure the house feel as spacious as possible,” says Egypt Sherrod, host of HGTV’s “Property Virgins.” “Clutter robs a home of valuable space. Make sure everything is cleared from the countertops and remove at least two-thirds of books on the shelves.”

“Furniture, art and accessories that are not scaled correctly for a room are a big mistake,” says Dawn Alpern, associate designer at Interior Transformation, Inc. “These items need to fit the room. It doesn’t work if they are too big or too small.”

“Closets should be half full, and buyers should be able to see the bottom of the closet. If they see a jam-packed closet, they will think it’s too small for them. Bedrooms should contain only a bed, nightstand and dresser. In the master bedroom, swap out the king-size bed for a queen-size bed to create more space,” says Sherrod. “Throughout the house, pull furniture two or three inches out from the walls and allow the corners of a room to be visible.”

2. Mistake: Excessive furniture. Too much furniture, or oversized furniture, can ruin a home sale. There needs to be enough room for buyers to walk in and out of all the rooms in your home. If there is any doubt that a piece of furniture may be too big or distracting, take it out, says Cannon Christian, president of Renovation Realty.

“Remove the seller’s giant family-size couches, chairs and tables and replace them with rented mid-size or small furniture to make the room feel more spacious,” says Scott Sorrell, CEO of Sales Adrenaline.

3. Mistake: Household smells. “The only thing as important as decluttering is having an immaculate house. A house that smells odd to a prospective homeowner, whether because of a cat’s litter box, dogs, or exotic food can easily be a deal breaker,” says Sherrod. “Don’t try to mask anything with potpourri, or by baking cookies. Just open windows a few minutes before a showing to let in fresh air.”

“Having a professional cleaning companycome in to scrub walls, floors, carpets and windows can make an amazing difference, both in general appearance as well as removing odors. If the smell persists after the cleaning crew has finished, consider replacing any carpets used by animals,” says Russ Tybus, co-owner of Morris Organizers.

“We were recently in a listing with a newer kitchen, updated utilities and very little clutter. The real estate agent did a nice job staging the house, but what they missed was overwhelming. There was a very distinct smell of animals. Candles were lit, which only drew more attention to the fact that they were trying to cover something up. On top of that, most of the floor moldings were filthy, covered in everything from scuff marks to food splashing and slobber. That home was likely to be known as the dirty animal house, when the home was staged very nicely,” says Tybus.

4. Mistake: Failure to edit. “The failure to edit can include too many personal items, clutter or disastrous decor. If your seller thinks the home is edited as much as it can be, tell them to edit again. The goal should be to remove virtually everything that would allow a buyer to picture the current owners in the home,” says Rhonda Duffy, a real estate professional in Atlanta.

Sherrod encourages using vignettes throughout the home. Vignettes are groupings of accessories, usually in threes. It could be three pieces of art on the wall, candlesticks, something tall, medium and short. The shapes and colors can help draw the visitor through the room and make the room visually interesting.

5. Mistake: Having more than one focal point in a room. “Every room needs a focal point, but most people never figure out what it actually is,” says Alpern.

“As a rule, in the bedroom it is the headboard, in the bathroom it is the vanity area. The living room’s focal point can be the television, the fireplace or the window, says Karl Lohnes, interior designer and co-host of HGTV’s “This Small Space.”

6. Mistake: Color faux pas. Real estate broker Lauren Schreyer cautions sellers not to choose drastic shifts in color from one room to the next. “It’s critical to maintain a continuum of a neutral paint color throughout the main areas of the home to provide a sense of openness and flow. This also helps make a home feel bigger,” says Schreyer.

“Neutral doesn’t have to be bland and boring. Everything doesn’t have to be tan or beige—certain shades of grey, green and even purple can be neutral,” says Alpern.

7. Mistake: Covering up the light. Lighten up! “You want as much light to come in as possible. Remove unneeded blinds. If there’s drapery, pull it to the side. You want people to come in and say, ‘I could live here. It’s nice and bright,’” says Sherrod.

8. Mistake: Skipping the walk-through. “Make a trip through the home with your sellers and test all cupboards, cabinets and drawers for proper opening and closing,” says Christian. “Buyers will hear squeaky cupboards or see jammed drawers as something they will have to fix if deciding to buy the home. Replacing hinges or greasing drawer tracks is inexpensive and quick.”

“If there’s a door that needs fixing, or wall that needs painting, now’s the time to address it,” says Jay Hart of Sold with Style. “When buyers see these repairs, they will speculate about the ones that they don’t see. It sends the message that the home is not well maintained or cared for.”

9. Mistake: Neglecting the exterior. “The front porch is the home’s first impression. Encourage your sellers to paint the front door, place seasonal planters on each side of the door, keep lawns freshly mowed and remove garbage cans immediately on trash day,” says Sherrod. “Pressure-washing outdoor decks and aluminum siding can also do wonders for a home’s first impression and boost a home’s value.”

Looking for more staging tips? Learn the Luxury Home Staging Secrets that Sell.