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Hot off the Press from Michelle DeNomme, Realtor
FOR IMMEDIATE RELEASE
SALES UP, INVENTORY DOWN FOR FIFTH
CONSECUTIVE MONTH June 2008
Pending Sales 63 Percent Higher Than June 2007 NAPLES, Fla. – July 15, 2008 – Now is a great time to buy, and more people are agreeing according to a report released by the Naples Area Board of Realtors® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). “For the fifth consecutive month, we are seeing the number of pending sales increasing and the available inventory decreasing. We are seeing this trend across
the broad spectrum, not just in specific price points or geographic areas,” said Arlene Carozza, NABOR president and Realtor. “Overall, pending sales activity is up 63 percent over last year, with some areas well over 150 percent.” In the June report, compiled by NABOR, overall sales have increased nine percent and inventory has decreased by seven percent. “I’ve seen a marked increase in the number of showings and increased interest in homes,” said Mike Hughes of
Downing-Frye Realty. “Choice properties that are priced right are quickly disappearing.”
The report, which provides annual comparisons of single-family home and condo sales (via the Sunshine Multiple Listing Service), price ranges and geographic segmentation, also includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall pending home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, increased 60 percent, with 484 in June 2008 compared to 301 in June 2007.
Overall market sales for June 2008 in the $0-$300K category are up 58 percent with median sold price down 15 percent, compared to June 2007. Overall inventory is down seven percent.
For single-family homes priced up to $300,000, there are 172 pending sales, up 537 percent over June 2007, when there were 27 pending sales. In the same category, sales are up to 113, a 253 percent increase over the 32 sold in June 2007.
Pricing for single-family homes from $1 - $2 million increased by nearly eight percent.
Overall condominium pending sales for June 2008 increased 43 percent to 197, compared to 138 in June 2007.
Comparing pending sales from June 2007 and June 2008, condominiums priced up to $300,000, there is a 59 percent increase, while condominiums priced from $500,000 to $1 million are up 38 percent. For condominiums priced from $1 - $2 million, pending sales are up 30 percent from June 2007. Overall condominium inventory is down 13 percent.
“There is a new bubble of buyers on the horizon,” said Mike Hughes of Downing-Frye Realty. “They are on the fence, but now it’s a matter of when they’re going to make that buying decision.”
The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 member-customers. NABOR is a member of the
Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.
To view the entire June report, go to www.NaplesArea.com and feel free to contact
me with any questions you may have by calling 239.404.7787 or by e-mail at 239.404.7787...
I hope you have a GREAT day!
Michelle
Friday, July 18, 2008
Wednesday, July 2, 2008
A recession-proof home saleORLANDO, Fla. – July 1, 2008
It’s a buyer’s market, but sellers can increase the chance of a sale in today’s climate by working with a Realtor and considering these eight things.
1. Don’t count on open houses to sell your home. According to the California Association of Realtors, less than 5 percent of buyers find their home at an open house. An open house should never be the center of a prospective real estate agent’s marketing plan.
2. Target your marketing. Know what buyers in your area look for and emphasize your home’s appeal accordingly. This includes everything from the description (whether you highlight transportation and parks, or restaurants and nightlife) and how you stage the home (whether the third bedroom becomes an office), to where you advertise the listing (a newspaper in addition to online).
3. Tour similar homes in the area to better understand the competition – what a home sold for 12 months ago, or even six months ago, may not be a good estimate for today.
4. Consider staging your home. Although not always necessary, staging can make a difference in how your house is viewed and compared to others.
5. Offer prospective buyers a neighbor “reference” list. Make a list of your best, most reliable neighbors, so that buyers can reach out to get a better feel for the area, the locals, and what makes the neighborhood a truly unique place to live.
6. Photos posted online should be taken on a sunny day with a wide-angle lens. Approximately one-third of buyers who responded to a recent survey said they would eliminate homes they saw online if they had too few or poor quality photos.
7. Consider a pre-inspection to give you a selling edge. Include information about any repair work you’ve completed since you bought the home. If you don’t market your improvements, you won’t get as much return for them.
8. Once your house is on the market, accept feedback and tweak as necessary.
Tips for Buyers and Sellers in todays Real Estate Market!
Contact me today for a full service marketing plan...
Michelle
It’s a buyer’s market, but sellers can increase the chance of a sale in today’s climate by working with a Realtor and considering these eight things.
1. Don’t count on open houses to sell your home. According to the California Association of Realtors, less than 5 percent of buyers find their home at an open house. An open house should never be the center of a prospective real estate agent’s marketing plan.
2. Target your marketing. Know what buyers in your area look for and emphasize your home’s appeal accordingly. This includes everything from the description (whether you highlight transportation and parks, or restaurants and nightlife) and how you stage the home (whether the third bedroom becomes an office), to where you advertise the listing (a newspaper in addition to online).
3. Tour similar homes in the area to better understand the competition – what a home sold for 12 months ago, or even six months ago, may not be a good estimate for today.
4. Consider staging your home. Although not always necessary, staging can make a difference in how your house is viewed and compared to others.
5. Offer prospective buyers a neighbor “reference” list. Make a list of your best, most reliable neighbors, so that buyers can reach out to get a better feel for the area, the locals, and what makes the neighborhood a truly unique place to live.
6. Photos posted online should be taken on a sunny day with a wide-angle lens. Approximately one-third of buyers who responded to a recent survey said they would eliminate homes they saw online if they had too few or poor quality photos.
7. Consider a pre-inspection to give you a selling edge. Include information about any repair work you’ve completed since you bought the home. If you don’t market your improvements, you won’t get as much return for them.
8. Once your house is on the market, accept feedback and tweak as necessary.
Tips for Buyers and Sellers in todays Real Estate Market!
Contact me today for a full service marketing plan...
Michelle
Tuesday, July 1, 2008
Let Save Our Homes Explain Portability in Florida...
Is Save Our Homes portability selling houses? Let Save Our Homes explain...
When people buy a home, they can apply for a $50,000 homestead exemption. If their home costs $100,000, the homestead exemption allows them to pay taxes on $50,000 instead.
There’s a second exemption, called Save Our Homes. If the market value of a house rises,
for example, from $100,000 to $110,000 in a year, or to $200,000 in 10 years, the county tax assessor can raise the market value of the house by only 3 percent per year. So a house worth $100,000 in 1998 can have a maximum market value of only $134,000 in 2008.That means the cumulative effect of Save Our Homes is enormous.On Jan. 29, Florida voters approved Amendment 1, which allowed homeowners to transfer the Save Our Homes exemption when they bought a new home. Its feature, called portability, would help sell homes, real estate agents said. People had been living for years in homes that were too large or too small, and that big tax break would be the catalyst for trading places.
Contact me for more information... Michelle@NaplesHomeSweetHome.com
Is Save Our Homes portability selling houses? Let Save Our Homes explain...
When people buy a home, they can apply for a $50,000 homestead exemption. If their home costs $100,000, the homestead exemption allows them to pay taxes on $50,000 instead.
There’s a second exemption, called Save Our Homes. If the market value of a house rises,
for example, from $100,000 to $110,000 in a year, or to $200,000 in 10 years, the county tax assessor can raise the market value of the house by only 3 percent per year. So a house worth $100,000 in 1998 can have a maximum market value of only $134,000 in 2008.That means the cumulative effect of Save Our Homes is enormous.On Jan. 29, Florida voters approved Amendment 1, which allowed homeowners to transfer the Save Our Homes exemption when they bought a new home. Its feature, called portability, would help sell homes, real estate agents said. People had been living for years in homes that were too large or too small, and that big tax break would be the catalyst for trading places.
Contact me for more information... Michelle@NaplesHomeSweetHome.com
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