Wednesday, November 30, 2016

Let's Talk Hot Off the Press...
More Buyers Choose Conventional Mortgage Loans to Purchase Their Home!

Naples, Fla. (November 18, 2016) - Over 44 percent of homes purchased in October 
used conventional financing methods (e.g., mortgages), according to a report released 
by the Naples Area Board of REALTORS® (NABOR®) that detailed activity in the greater 
Naples housing market during October 2016. The October 2016 Market Report, which 
tracks home listings and sales within Collier County (excluding Marco Island), showed 
a gradual - but continuous - decline in cash sales with growth in conventional sales during 
the last 12 months.

In October 2015, cash sales accounted for nearly 65 percent of all homes sales in Naples, 
whereas in October 2016, cash sales accounted for only 56 percent of all homes sales in Naples. 
Interestingly, homes purchased in the $300,000 to $500,000 price category in October reflected 
the highest percentage of conventional sales (60 percent) of all the price categories reported.

"Increased use of conventional mortgages in October may be an indication of increased consumer 
confidence coupled with a better lending environment," said Rick Fioretti, NABOR® President and 
Broker Associate with Berkshire Hathaway Home Services Florida Realty. "In October 2014, only 
32 percent of all home sales used conventional financing. In October 2015, conventional financing 
increased to 35 percent of overall sales."

Coco Waldenmayer, a managing broker at John R. Wood Properties, added that impending interest 
rate increases might create more urgency for people looking to finance a future home purchase.

The October 2016 Market Report showed overall pending sales decreased 
13 percent to 702 pending sales in October 2016 from 807 pending sales in 
October 2015. Interestingly, overall pending sales in the $500,000 to $1 million 
price category actually increased 14 percent to 125 pending sales in October 
2016 from 110 pending sales in October 2015. Likewise, pending sales of 
condominiums in the $500,000 to $1 million price category increased 30 percent 
to 57 condominiums in October 2016 from 44 condominiums in October 2015. 
The increase in pending sales extended to the single-family home market as well, 
in which both the $300,000 to $500,000 price category and $500,000 to $1 million 
price category increased 3 percent.

In the closed sales category, the October 2016 Market Report showed overall closed sales decreased 7 
percent to 556 closed sales in October 2016 from 601 closed sales in October 2015. However, closed 
sales of condominiums in the $1 million to $2 million price category increased 80 percent to 9 condominiums 
n October 2016 from 5 condominiums in October 2015. And closed sales of single-family homes in the $300,000 
to $500,000 price category increased 21 percent from 120 single-family homes in October 2016 from 99 
single-family homes in October 2015.

For October, the overall median closed price increased 6 percent to $320,000 in the 
12-months ending October 2016 from $302,000 in the 12-months ending October 2015. Conversely, 
he overall median closed price for homes above $300,000 did not reflect a recordable change. Homes 
in the $300,000 and below price segment, which experienced a 10 percent increase to $215,000 in the 
12-months ending October 2016 from $195,000 in the 12-month ending October 2015, is once again 
responsible for driving the overall median closed price increase.

According to Jeff Jones, Managing Broker at the Naples-Park Shore office of Coldwell Banker®, the 
increase in days on market for October (15 percent) reflects a need to continue dialog about properly 
pricing homes in Naples. "Even though we are selling homes in a very desirable location, when days 
on market increase, one factor affecting this is overpriced properties. And because historically, inventory 
increases right before season, REALTORS® need to take a bold stance now and guide home sellers to 
a more realistic asking price based on today's market."

The NABOR® October 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® October 2016 sales statistics are presented in chart format, including 
these overall (single-family and condominium) findings:

"There is less than a three-months supply of single family homes under $300,000," remarked Bill Coffey, 
Broker Manager of Amerivest Realty Naples, who added that if home buyers are looking to stay within 
this price range they may be better served in the condominium market, which saw a 53 percent increase 
in inventory to 1,116 condominiums under $300,000 in October 2016 from 731 condominiums under 
$300,000 in October 2015.

According to Kathy Zorn, broker/owner, Florida Home Realty, "The report showed six months worth 
of inventory to sell. We have not seen this high a level of inventory in the month of October since 2013. 
So as we move into season with this healthy level of inventory, buyers will have more options, which is 
all the more reason sellers should seek guidance now from a REALTOR® who knows the local market 
and can help them price their properties right."

Geographically, inventory in the Naples Beach (34102, 34103, 34108) and North Naples (34109, 34110, 34119) 
areas increased the most in October. In the Naples Beach area, single-family home inventory rose 
25 percent to 567 single-family homes in October 2016 from 454 single-family homes in October 2015, 
and condominiums increased 71 percent to 655 condominiums in October 2016 from 384 condominiums in 
October 2015. For North Naples, single-family home inventory rose 35 percent to 878 single-family homes in 
October 2016 from 650 single-family homes in October 2015, and condominiums increased 64 percent to 734 
condominiums in October 2016 from 447 condominiums in October 2015.

"There are plenty of homes to buy and sell in Naples," said Fioretti, who ends his term as NABOR® 
President in December. "It's going to take some time to see how the market will react to the election 
and the changes in the government, but I believe the challenge we REALTORS® face in the short-term 
is educating the public on market pricing. The value of a home relates to local sale prices and a realistic 
price means a rapid sale."

As always if you have any questions about our market in South West Florida please feel free to contact me by calling 239.404.7787 or by e-mail at
I look forward to working with you to determine a fair and reasonable listing price when working to market and List your home and as your Buyers Realtor I can identify the properties that will best fit your criteria when negotiating a purchase price that fits your budget.

I have provided the detailed Report below for your review...
View October 2016 Market Statistics

Michelle J. DeNomme, REALTOR, GRI
Cellular Phone I  239.404.7787
Berkshire Hathaway HomeServices Florida Realty
Office: 239.659.2400
E-Fax Number: 239.236.5550
Twitter Me: DeNommeRealtor

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.

Friday, November 25, 2016

Let's Talk... Did You Know!?

The paper towels that are sitting on the kitchen counter, in your washroom cabinet or even at your workplace may seem to be a normal necessity in your everyday life.

But do you know that those very same paper towels you're using regularly do a massive damage to you and to our environment?

Watch this amazing video to help reverse the damages:

Here are some scary facts for you to know...

  • To make one ton of paper towels, 17 trees have to be destroyed and over 20,000 gallons of water have to be polluted for usage. That's more than enough water to feed a community of 40,000 people per day!

  • Everyday, over 3,000 tons of paper towel waste is produced in the US alone and to make the matter worse, decomposing paper towels produce methane gas, a leading cause of global warming!

  • In fact, an average person uses 2,400 to 3,000 pieces of paper towels each year. At the current store sale price, you're spending over $100 per year, $400 for a family of four, on these "harmful" paper towels.

  • What you're about to discover is an advanced technology that will end your need for paper towels FOREVER and save you thousands of dollars. This advanced technology can also eliminate your usage of toxic chemicals that you use to clean your house.

All you need is WATER to clean virtually anything.

Watch this eye-opening video to save money and reduce your carbon footprint:

Let's try to make this world a better place to pass onto our future generations.

Monday, November 14, 2016

 Let's Talk about...
Michelle's Reminders this month!!!

Time to order your Thanksgiving Day
Turkey Fresh from Jimmy P's
You can call in your order or stop by for tonight's dinner and place your order in person!
Jimmy is also taking ready made orders if you don't feel like cooking this year!!!
 Southwest Florida Happenings

Thanksgiving Day Run or Walk Event!
GCR is excited to announce that we will be hosting the
4th Annual GCR Thanksgiving 5K on Thanksgiving !!!
The Run/Walk event will be held at Cambier Park at 7:30AM...
The race benefit's St. Matthew's House
The Thanksgiving Day
Gobble Gobble Four Miler ™
I look forward to working with you and as always if you have any questions please feel free to contact me by calling 239.404.7787 or by e-mail.  I also want to remind you to be sure to accept my invitation to HomeSnap this way you can start looking at any listing in a snap!
The full detailed report is below for your review...:0)

NABOR 3Q Report:

I hope you have a fantastic Thanksgiving with your family and friends.
Real Estate Tidbits

Let's Talk...

Michelle J. DeNomme @DeNommeRealtor 1 hour ago
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Let's Talk...Quote of the Day
“The highest degree of wisdom is integrity.”