Canal-front home in Naples, Florida
REALTORS® in Naples sold more existing homes in July (682) than they did in January (603) or February (613), a statistical reality that busts an old myth that home sales stall in the summer. In fact, overall closed sales in the market’s sweet spot (homes priced between $300,000 and $500,000) increased 32 percent in July. Broker analysts reviewing the July 2017 Market Report, said a 9 percent increase in closed sales during July was very good, but the continued reduction of inventory, especially in the single-family home market, is cause for concern as it limits choices for buyers.
One segment of the market that brokers are watching closely is the $300,000 and below single-family home market, which saw pending sales decrease 24 percent, closed sales decrease 19 percent, and inventory decrease 2 percent in July. In fact, the entire single-family home market is getting stretched thin as inventory tightens. In July, inventory rose just 3 percent overall, but single family home inventory decreased 1 percent.
One local Broker noted, “The July report showed the median closed price for homes under $300,000 was the highest since 2008. However, the median closed price for homes over $300,000 was the lowest reported in 9 years!”
According to the report, overall median closed prices in July increased 6 percent to $319,000 from $300,000 in July 2016. For homes in the $300,000 and below price category, the median closed price increased only 3 percent to $225,000 from $219,000 in July 2016. And for homes above $300,000, the median closed price decreased 7 percent to $485,000 from $524,000 in July 2016.
Brokers are optimistic that the third quarter closed sales will finish ahead of the second quarter, and pointed to activity in the $500,000 to $1 million price category, which saw the overall pending sales increase 44 percent in July from July 2016.
For months, broker analysts and NABOR® have warned against setting unrealistic pricing, a strategy that can hurt a homebuyer because a home is often overlooked if it’s overpriced.
High prices are a strategy that can work in an accelerating market, but it’s risky. A home might sit for months without an offer and sellers typically end up marking the price down, perhaps lower than it should have sold for in the first place. A licensed REALTOR® uses real-time MLS data that can help a seller hit the sweet spot when setting the listing price: a price that’s high enough to reflect the home’s value, but attractive enough to gain buyer attention and get it sold quickly.
Another segment that brokers are watching closely is the number of days on the market it takes for a property to sell, which is on the rise and hit 105 days in July. One reason for this could be cosmetic. According to Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, “Many homebuyers are looking for a coastal, contemporary look, not the Mediterranean or Tuscan look that dominates much of the existing home market and appears dated. Sellers must either consider making renovations to meet the light, coastal look buyers want or reducing the home’s price in order to stay competitive with the new construction product that reflects this new coastal, contemporary style.”
“Because inventory dropped 1 percent in the single-family home market in July, this may be the first sign that we are not far from a shift in the market,” said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., who went on to add, “the housing market is cyclical, and the rate of inventory increase has been trending down since December. If this behavior continues and we go below our lowest inventory point (3,563), which was in July 2014, I predict we’ll shift from a buyer’s to a seller’s market and probably start to see prices increase again.”
If you are weighing the pros and cons of buying or selling a home in the coming months, let me be your guide. I can help you do a market comparison and determine a fair and reasonable listing price. I can also identify properties best suited for your needs and negotiate a purchase price that fits your budget. I would be my honor to assist you and your friends and family with your real estate needs. Please contact me at (239) 285-1086 or email David@davidforida.com
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/
Naples No. 1 for happiness again
For 2nd year in a row, city tops list in nationwide Gallup-Healthways survey
LIZ FREEMAN
Naples once again is tops when it comes to residents being happy and feeling good about life.
An annual Gallup-Healthways survey of 189 cities nationwide about well-being found Naples is No. 1 for its residents having the highest sense of purpose and a positive outlook, according to the findings.
It is the second year in a row that Naples is at the top of the list.
Coming in second is Barnstable Town, Massachusetts, followed by Santa Cruz-Watsonville, California, inthird. Holding the fourth spot is Honolulu, Hawaii, and fifth is Charlottesville, Virginia, according to the findings.
At the opposite end, the cities with the lowest well-being are Fort Smith, Arkansas- Oklahoma; Hickory, North Carolina; and Huntington, West Virginia. Holding the fourth lowest well-being ranking is Topeka, Kansas, and fifth is Canton, Ohio.
Naples Mayor Bill Barnett said it’s great the community has stayed at the top spot.
“It is a wonderful honor for Naples to be named the No. 1 community in the country for well-being and happiness for the second year in a row,” Barnett said.
Another Florida community made the top 10. Northport/Sarasota came in sixth.
Besides a sense of purpose, the survey looks at four more measurements: how people feel about their social and financial standing, their community and
their physical health.
The rankings are based on telephone surveys of more than 354,400 people across all 50 states and the District of Columbia, which were conducted from Jan. 2, 2015, through Dec. 30, 2016.
“Naples had the highest number of residents thriving in community well-being, highest rates of healthy eating, lowest rates of daily stress, and lowest lifetime diagnoses of depression,” according to the survey findings.
Barnett said the Blue Zones Project has to be given credit for helping the community achieve the good standing.
“We are a walkable, bike-able, pedestrian-friendly city, and our citizens are focused on healthy living and learning about healthier lifestyles,” Barnett said.
Since 2015 Collier County has been pursuing a Blue Zones Project designation, sponsored by the NCH Healthcare System, where a large segment of individuals, businesses, government agencies and other organizations pledge to make enough changes in daily habits to improve their health and longevity.
The Blue Zones Project is based on the world travels of former National Geographic explorer Dan Buettner, who found there are nine common principles among people in communities around the world with the greatest longevity.
The “power nine” include moving naturally by being physically active, knowing your purpose in life, taking time to relax, having a healthy social network and putting loved ones first.
Other principles include participating in a religious community, limiting alcohol consumption, eating a plant-slant diet and stopping to eat when you are 80 percent full Dr. Allen Weiss, president and chief executive officer of NCH, who introduced the Blue Zones Project to Collier, said he is pleased for the community by the Gallup- Healthways finding.
He pointed to the community having the lowest lifetime diagnoses of depression, healthy eating habits, sixth-lowest rate of obesity in the nation, low stress levels and long life expectancy.
“We have a lot of pride in our community,” Weiss said. “We have a great educational system. We have a safe community.”
All those pluses add up to Naples being a great place to live and attractive for people looking for a place to retire, he said.
“You can’t keep the secret,” Weiss said. “If you have someone deciding between us and Arizona and you are the healthiest and happiest community, I think it is a big part of the decision.”
Weiss said the community’s support of the Blue Zones project has been a huge help for Naples staying at the top of the Gallup-Healthways well-being survey.
To date, 75 businesses and other entities have gained Blue Zones certification, which means they have taken sufficient steps to make changes in their culture to be healthier.
Weiss said another 300 groups are in the process of getting certified, and 14,000 individuals and counting have signed a Blue Zones pledge to adopt healthier practices.
The Blue Zones Project contracts with the Nashville- based Healthways to help communities earn designation as a Blue Zones community.
Deb Logan, executive director of the local Blue Zones Project, said the community cannot rest on its laurels after earning the top spot for two years if it wants to keep its stellar status.
“We want to continue building on a strong foundation,” Logan said.
People in the community benefit from a good network of social connections, whether it’s from activities through their homeowner’s associations or faith-based groups, and that’s critical for improved well-being.
The ranking bodes well for people looking for a place to retire or for a business looking to relocate, she said.
“We know people are always going to move here regardless, and if you move here you will have a high sense of well-being,” she said.
In contrast, the Robert Wood Johnson Foundation has found that loneliness shaves seven years off the average lifespan, she said.
“It’s well-researched,” Logan said
Aerial view of an island in Rookery Bay Photo: by RW
Naples, Florida leads the way on realtor.com’s list of America’s Top 10 Clean Cities
“The Sunshine State might be best known for its oranges, …but it also leads the country in air quality. With sea winds sweeping over the mostly flat terrain from both its east and west coasts, noxious emissions tend to be blown away. …The mainstays of the state’s economy—tourism, agriculture, and international trade—are all relatively light in pollution.
The cleanest city in our analysis, Naples, in southwest Florida, is famous as an ecotourism destination. Surrounded by natural reserves like the Everglades, Ten Thousand Islands, and Corkscrew Swamp Sanctuary, it also has one of the few remaining undisturbed mangrove estuaries in North America.” —realtor.com
Top ranking among 10 largest metro areas is largely result of Collier’s abundance of protected lands
LAURA LAYDEN | naplesnews.com
Take a big breath, Naples.
The city tops realtor.com’s list of the least-polluted cities in America.
To determine where the air is pristine and the water is safe to drink, the website ranked the 10 largest metro areas based on the following factors:
» Toxic chemicals released from factories.
» Greenhouse gas emissions per square mile.
» Number of Superfund sites per square mile.
» Air quality, determined by the number of clear days in a year.
» Water quality, measured by contaminants such as lead, copper and arsenic.
Florida leads the way in air quality, and Naples is the cleanest city in the state, helped by its natural surroundings, which include the Everglades, Ten Thousand Islands and the Corkscrew Swamp Sanctuary.
“Collier County has more acres of protected lands than any other county in Florida,” Renee Wilson, a spokeswoman for the Rookery Bay National Estuarine Research Reserve, told realtor.com, pointing out that’s mostly due to the wetland characteristics of the Everglades.
The No.1 ranking didn’t come as a big surprise to Dominic Pallini, president of the Naples Area Board of Realtors.
“Our state and local government (Collier County) work hard to make Florida, Naples especially, the cleanest and safest place in the country. It makes Naples a prime location to purchase a home,” he said in an email.
Naples on list of Great Places to Retire by Kiplinger Magazine
By Laura Layden
Naples has made another A-list for retirees.
The city is one of a dozen Kiplinger named as “Great Places to Retire for Your Good Health.”
The list is based on data provided by Trulia, the online real estate marketplace, which Kiplinger, a business magazine, used to identify neighborhoods with quiet streets, trails, parks, golf courses and other amenities — as well as easy access to hospitals and pharmacies.
Naples appears first on the list, which is grouped by size.
Contributing to the city’s high marks are these other top rankings:
■ The Naples-Marco Island metropolitan area ranked No. 1 in the 2014-15 Gallup-Healthways Well-Being Index, based on residents’ views about health, financial security, community and sense of purpose.
■ Naples earned a top grade from the American Lung Association for air quality. Naples was a small fishing village when Bill Barnett, who is serving his fourth term as mayor, moved to the city in 1973. Back then Naples had a grocery store, two restaurants and a pharmacy, and “locals rejoiced when an Italian restaurant opened,” the writer states.
Now the city has two streets, Fifth Avenue South and Third Street South, lined with a dizzying number of galleries, boutiques, cafes and specialty stores. “The growth has been fueled by a torrent of retirees attracted by miles of beaches, gracious homes and giant banyan trees. But you don’t have to be retired to like living here,” the writer states.
The article points to NCH Healthcare System’s launch of a Blue Zones project, designed to encourage healthy behaviors communitywide. Blue zones refers to places where people live longer than usual.
Kiplinger shares that in Old Naples, residents can easily walk or bike to grocery stores, restaurants, a golf course and even the hospital.
“Sport fishing and kayaking are also popular, and there are nearly 90 golf courses in the greater Naples area,” the article states.
Kiplinger highlights the area’s growing cultural scene, diverse real estate market and community involvement.
A retired newspaper executive and a former chairman of the Community Foundation of Collier County, tells Kiplinger that the local community supports more than 700 nonprofit organizations.
Kiplinger mentions the Naples Winter Wine Festival, which is sponsored by the Naples Children & Education Foundation and annually raises millions for children’s charities in Collier County. The festival has raised more than $146 million since it was founded in 2001.
Additionally, Kiplinger points to the many specialized health care services offered by NCH at its downtown Naples and North Naples hospitals and by Physicians Regional Healthcare, with two hospitals in Collier County.
The writer concludes that “residents pay a premium to live the good life, particularly in Old Naples.” Most of the cities on the list have lower crime and tax rates. Florida is considered one of the most tax-friendly states for retirees.
