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What Happens 

When Starbucks 

Comes To Town?

Janet Steinberg

The Harvard Business School found that housing prices increase 0.5% within a year of Starbucks moving into town.

How did this esteemed business school find out? The Harvard Business School used Yelp.

Edward Glaeser, Harvard economist and chief researcher for this study, used Yelp data to complement statistical data from “tried and true” sources such as the US Census Bureau and Census Bureau. Why? “Because data from Yelp is likely to be more up to date than government sources and Yelp data makes the individual front and center to any questions being asked.”

The goal of this study was to determine whether housing prices increased due to Starbucks moving into town or whether affluent customers who patronize Starbucks moved into that town.

Glaeser said the Yelp data “reveals the latter…the most natural hypothesis… (affluent customers who patronize Starbucks moved into town)…the most natural hypothesis…that restaurants respond to exogenous changes in neighborhood composition and that restaurant availability is not driving neighborhood change.”

The broader point of Glaeser’s research is that gentrification (the process of rebuilding homes and businesses accompanied by an influx of middle class and/or affluent people at the expense of earlier, often poorer, residents within a neighborhood or zip code is “strongly associated” with increases in the numbers of grocery stores, cafes, bars, restaurants. In plain English, the more “high end” retail and service businesses in town, the more “high end” customers come to town.

Glaeser said that though the presence of a Starbucks is less important than the community itself having people who come to the town to consume Starbucks’ products. “…we think this variable (the number of consumers who drink/eat Starbucks) is likely to be a proxy for gentrification itself.”

Additional studies on the effect of Starbucks on home prices corroborate the findings of this most recent study.

Housing consumers, expect to see higher returns on the sale of your house and/or expect to pay more to buy a house when Starbucks comes to town.

Let's talk... Great Tips!

Check this out...
https://www.travelandleisure.com/travel-tips/what-to-put-on-luggage-tag?

The minutes spent waiting at the baggage carousel can be among the most gut-wrenching, palm-sweating and butterfly-in-stomach-inducing of the entire travel experience. The terror of not seeing your bag ride down the conveyor belt keeps even the most well-seasoned traveler awake at night.

But luckily, airlines are better than ever at reuniting lost bags with their owners. About 97 percent of all lost bags are found and returned within two days, according to the Los Angeles Times. And there are a few steps you can take to ensure that your lost luggage is among that statistic.

As with most aspects of travel, the best plan is foresight. A secure luggage tag with legible information can help bring lost bags back home.

Related: 16 Luggage Tags That Are Much Better Than the Paper One You Got for Free at the Airport

All luggage tags should list the owner’s name, email address, and a phone number.

Whether or not to include an address, however, is contentious, and you might want to refrain from putting your home address on your luggage. “If you can avoid listing your home address, you will be less likely to be targeted for a robbery while you are away,” according to USA Today. However, the address of where you’ll be traveling is a good point of contact for luggage lost on the outbound flight (just include it on a small slip of paper in addition to the permanent card in your luggage tag). If you’re worried about luggage being lost on the return flight, consider listing a work address instead of home.

When traveling abroad, avoid a luggage tag with a flag or anything that could identify your nationality. Also, get a luggage tag with a cover so your information can't be scanned by someone near you.

Finally, as a backup, draft an email that includes a photo of your luggage, its dimensions and your contact information (phone number and work address) that you can forward to the airline in the event your luggage goes missing.

Soon, the issue of what to put on your luggage tag may not even be an issue. Digital luggage tags already provide a secure way to track your bags and allow airport workers to scan for private information. Rimowa’s electronic tag (built into the suitcase) or bagID baggage tags can display travel information and allow airport workers to track luggage.

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The Best Places to Live in America

These spots combine economic 

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See all 50.

Money's annual list of best places to live in the U.S. takes into consideration factors like economic growth, crime, public school performance and affordability, using 135,000 different data points on 583 places, according to the magazine. This year the town of Frisco, Texas took the top spot, along with Ashburn, Virginia and Carmel, Indiana.

In partnership with realtor.com

 

Let's Talk Hot Off The Press
August Housing Market in Naples Continues to Show Strength!

Naples, Fla. (September 14, 2018) - Closed sales of properties during August increased 5 percent to 719 homes from 685 homes in August 2017 according to the August 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Inventory during August also rose by 2 percent and was driven by a surge of 218 more properties added to the market in the two lowest price categories reported, compared to August 2017.

 

"I'm really encouraged by activity in the lower end of the market during August," said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., who, along with several broker analysts reviewing the August Market Report, thinks we'll continue to see an uptick in inventory through the end of the year. "Historically, August is where we begin to see an increase in inventory as sellers get ready for our busy winter season."

 

Hughes went on to point out that the majority of the new inventory in August appeared in the single-family home market for properties below $500,000. Yet interestingly, closed sales during August were driven by activity in the condominium market, which experienced a 21 percent increase.

According to Jeff Jones, Managing Broker for Engel & Völkers Naples and Bonita Springs offices, "If you look at year over year numbers, the upper end continues to drive our market." As such, pending and closed sales of properties above $1 million increased by double digits, year over year ending August 2018. 

 

As to whether heightened Red Tide activity affected the Naples housing market in August, Bill Coffey, Broker Manager of Amerivest Realty Naples, responded by stating, "There were only 14 fewer pending sales in August compared to last year. And remember, we are still working with only 11 months of data since Hurricane Irma essentially halted activity for nearly a month last year."

 

Overall pending sales in August fell 3 percent; but pending sales of condominiums in the $500,000 to $1 million price range soared 28 percent in August. And pending sales for single family homes above $300,000 increased as well, with an impressive 62 percent increase for single family homes in the $2 million and above price category.

 

The NABOR® August 2018 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 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

Overall median closed prices fell 3 percent in August to $319,000 from $328,000 in August 2017, and it fell 13 percent for properties above $300,000 to $446,000 from $510,000 in August 2017. The only place prices increased was in the $500,00 to $1 million condominium market, which saw a 13 percent increase to $672,000 from $595,000 in August 2017.

 

Geographically, the median closed price increased 16 percent for homes in the South Naples area. This increase was reflected in a combined 37 percent increase in the single-family home market and 21 percent increase in the condominium market. 

 

According to Adam Vellano, West Coast Sales Manager, BEX Realty - Florida, "One indication that homeowners were pricing homes to sell in August was apparent in the MLS as 50 percent of the inventory that sold during the month had been on the market for over 100 days."

Let's Talk soon about your next move to Naples!

To View the August 2018 Market Statistics Link Click below... 

View August 2018 Market Statistics

Michelle J. DeNomme, REALTOR, GRI Cellular Phone I  239.404.7787 E-Mail : Michelle@NaplesHomeSweetHome.com Berkshire Hathaway HomeServices Florida Realty Office: 239.659.2400 E-Fax Number: 239.236.5550 Website: www.NaplesHomeSweetHome.com  Blog Page:   http://michelledenomme.blogspot.com  Twitter: DeNommeRealtor Homesnap: http://www.homesnap.com/Michelle-DeNomme  Office Address: 621 Fifth Avenue South Naples, Florida 34102 Member Of Naples Board Of REALTORS  Member Of Florida REALTORS  Member Of National Association Of REALTORS  Graduate Of REALTOR Institute (GRI) 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.

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Let's Talk Buyer opportunity today! Newly Renovated!!! Let's make 105 Clubhouse Drive at The Wilderness Country Club and Audubon Cooperative Sanctuary your next Home Sweet Home! Nestled with in the lush landscape of this beautifully maintained development you will find that this Condominium offers you private Golf Cart Garage with Golf Cart. Located on the 1st Floor in D Building is magnificently situated with expansive views of the Golf Course from your private first floor lanai and Florida room. Talk about Move In Ready! Newly Renovated marvelously furnished 2 Bedroom and Two Bath unit of overall sq. ft. of 1,846. Renovations featuring New Flooring, Kitchen renovation, Light fixtures, Painting and so much more! WCC Golf Membership is required. Splendid views encapsulate you as you enjoy stepping out for a glorious stroll over to your very own community pool and Grill area. As an owner you can start your day at the Wilderness Country Club with Lunch before a round of Golf or perhaps a game of tennis or possibly it's your day to sit back and simply enjoy the tranquility poolside! Contact me today about Your Buyer Opportunity of $1,000.00 Credit at Closing!

Wilderness Country Club
105 Clubhouse Drive, Unit D-156

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Let's Talk...Golden Gate City Single Family Home With Newer Roof 2016! You don't see this very often .36 Acres! Talk about the perfect home that just might fit your criteria! This home encompasses approximately 2,684 sq. ft. overall and living area under air of 1,738 sq. ft. with Two Car Garage and yes, your private Swimming Pool and Spa! The Master Suite is located within the split floor plan design. This split floor plan has not one, not two BUT three additional Bedrooms and one Bathroom. The living space is an open floor plan concept for living and dining that is near the kitchen and Family room area. The back yard is fenced in with large grassed in area with screened in pool area that is just perfect for entertaining with family and friends. If you have toys this is the home for you... there is Not One but Two Side Gates that are perfect for Boat or RV parking! Let's Talk Today as you know this home won't be on the market long!!! Let's talk about making this wonderful Home Your Next Home Sweet Home! Being Offered As Is Condition with Right To Inspect.

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New tax laws boosting Fla.’s luxury housing market

 

MIAMI – Sept. 5, 2018 – The passage of the Tax Cuts and Jobs Act in December 2017 has sent wealthy northeasterners fleeing to Florida's luxury home market, which has been a boon for South Florida luxury property developer BH3.

The law put a $10,000 limit on taxpayers' ability to deduct state and local taxes (SALT) from their federal taxable income in 2018, and that's had a huge impact on high-income taxpayers in some states: Taxes reach 8.82 percent in New York, 8.97 percent in New Jersey and 6.99 percent in Connecticut.

"SALT has crippled the high-end home market in northeast tri-state areas while luxury home sales in Florida have surged," says Daniel Lebensohn, co-founder of BH3. "Over the past several months, we've seen a tremendous increase in buyer interest from the northeast in the remaining units at Privé, our 8-acre private island community in Miami featuring two 16-story condo towers with 155 high-end units. Many of our new buyers named SALT as the motivating factor for seeking a residence in South Florida."

Since the law passed, New Yorkers ranked first among those looking for Miami properties on Miami's MLS, according to the Miami Association of Realtors.

In addition, luxury home prices jumped 16 percent in the second quarter of 2018 from a year earlier, according to Redfin Corp.

Source: World Property Journal (08/21/18) Gerrity, Michael

Let's Talk... Hot Off The Press!

Housing Predictions Ahead: REALTORS(R) Chief Economist Provides Market Insights

By RISMedia Staff

RISMEDIA, Thursday, September 06, 2018— Nearly a decade after the Great Recession, Lawrence Yun, chief economist for the National Association of REALTORS® (NAR), says concerns that the housing market has peaked and is headed toward another slowdown are purely speculative, regardless of recent sales declines in some regions. What's in store for the future? Markets should slow down; however, this is due in part to insufficient supply and swiftly rising home prices instead of weak buyer demand. Yun predicts existing-home sales will drop 1 percent to 5.46 million in 2018 (down from 5.51 million in 2017). Home price growth, however, should remain strong, increasing an estimated 5 percent nationwide. And with an anticipated hike in inventory supply come 2019, home sales should stay afloat—existing home sales are predicted to rise 2 percent with home prices estimated to increase by 3.5 percent, according to Yun. "Over the past 10 years, prudent policy reforms and consumer protections have strengthened lending standards and eliminated loose credit, as evidenced by the higher than normal credit scores of those who are able to obtain a mortgage and near record-low defaults and foreclosures, which contributed to the last recession. Today, even as mortgage rates begin to increase and home sales decline in some markets, the most significant challenges facing the housing market stem from insufficient inventory and accompanying unsustainable home price increases," said Yun in a statement. Low inventory levels, which have fallen for three consecutive years, along with bidding wars, are prevalent across the country. And while homebuilding has jumped 7.2 percent year-to-date to July, Yun says new construction is sorely needed to continue filling the gap. Carefully considered policy decisions should help alleviate the shortage. "The answer is to encourage builders to increase supply, and there is a good probability for solid home sales growth once the supply issue is addressed," Yun said. "Additional inventory will also help contain rapid home price growth and open up the market to perspective homebuyers who are consequently—and increasingly—being priced out. In the end, slower price growth is healthier price growth." "Rising material costs and labor shortages do not help builders to be excited about business,” added Yun. "But the lumber tariff is a pure, unforced policy error that raises costs and limits job creations and more home building."