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April Market Report Shows Strong End-of-Season Activity

Naples, Fla. (May 26, 2017) - Inventory decreased for the second consecutive month and prices continued to remain stable in April, setting into motion a burst in end-of-season sales for homes in the market's sweet spot - the $300,000 to $500,000 price category. Activity in that price category for both single-family and condominium homes in the resale market continued to outpace all other price categories during the month of April according to the April 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). And while overall closed sales for the month decreased 5 percent, closed sales for homes in the sweet spot saw a 14 percent increase.

 

Phil Wood, President & CEO of John R. Wood Properties, pointed out that the April report showed a 41 percent increase in pending sales for homes in the $2 million and above price category. "There were 10 sales over $5 million in April," said Wood. "This was a good sign we had a very strong season. I think April's activity sets us up for a good summer."

 

Overall inventory in April increased 8 percent to 5,920 homes in April 2017 from 5,480 homes in April 2016. Most notable was a remarkable 35 percent increase in the $2 million and above condominium inventory for April. However, April's inventory decreased by 470 homes from March's level, which was 6,390 homes.

 

The group of brokers reviewing the April Market Report added that homes that are unrealistically priced influenced April's average days on market, which showed an increase of 35 percent to 97 days in April 2017 from 72 days in April 2016.

 

"There appears to be a number of sellers who, when pricing their homes, refuse to take into account the added competition from the new construction market," said Jeff Jones, Managing Broker at the Naples-Park Shore office of Coldwell Banker®. Several other brokers collectively surmised that, in many cases, the selling price is typically 8 to 10 percent below the original asking price. Dominic Pallini, NABOR® President and Broker at Vanderbilt Realty, said, "an influx of new homes onto the market creates additional competition that many sellers don't take into consideration when pricing their homes to sell."

 

In response, Jones said, "Prices overall have remained relatively flat over the last year. Only the homes in the $300,000 and below price category increased in median closed price in the 12-months ending April 2017 from $207,000 to $219,000. There were actually minor decreases in all other price categories above $300,000."

 

The last frontier of growth is eastern Collier County where buyers seeking single-family homes have more affordable options. This area, which includes 34114, 34117, 34120 and 34137, saw a 17 percent increase in closed sales to 122 single-family home closed sales in April 2017 from 104 single-family home closed sales in April 2016.omes under contract (pending sales)

Several brokers commented that financing has become more complex in the last year and may be one reason the days on market have increased. For the 902 homes that closed in April 2017, the majority (65.3 percent) were cash sales and only 34.7 percent were conventional (financed) sales, a statistic that signifies the seasonal wealth factor.    According to Lauren U. Melo, PA, Licensed Real Estate Broker with Florida's Realty Specialists, who works with many first-time homebuyers including Millennials interested in purchasing REO properties (real estate owned by lenders and bank-owned foreclosure properties), "REO inventory is very low, and 90 percent of it is priced above $150,000."   On the commercial side of the real estate market in Naples, Bill Poteet, owner and broker at Poteet Properties, said the area has dramatically low industrial property options. "Naples has plenty of office and retail space available, but not much in terms of large commercial space."    As always if you have any questions please feel free to contact me by calling 239.404.7787 or by e-mail at Michelle@NaplesHomeSweetHome.com. Click here... View April 2017 Market Statistics    I hope you have a fantastic weekend. Michelle

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 Website: www.NaplesHomeSweetHome.com  Blog Page:   http://michelledenomme.blogspot.com  Twitter: DeNommeRealtor Homesnap: http://www.homesnap.com/Michelle-DeNomme

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Bitcoin Price Blazes Past $2400 and Higher in Japan, India and South Korea

By Jamie Redman - 

 

May 24, 2017

 

Bitcoin’s rising value continues to pick up steam this week by breaking a new all-time price high nearly every day. Currently, the global average is US$2400 per BTC, but the price is also trading at a premium of $2700 in Japan, $3050 in India, and $3150 in South Korea.

Bitcoin Price Fires Up the Rocket Boosters Breaking New Records Daily

Since our last price post just four days ago, bitcoin’s fiat value has climbed $400 higher to an all-time high average of $2405 across most global exchanges. The bull run is showing unstoppable momentum with a few pit stops along the way as bitcoin’s market cap is just a few dollars shy of reaching $40 billion. Alongside bitcoin, many altcoins are also gaining in value at an unprecedented level not seen since 2013.

Additionally, there has been significant demand coming from many countries globally, but in specific regions, the price is going through the roof. For instance, at the Japanese exchange Bitflyer, the price per bitcoin is trading at an average of $2700 at the time of writing. Moreover, most BTC/JPY exchanges are trading at this level. Another country that is pushing bitcoin demand higher is South Korea as prices are significantly above even Japan. The Korean trading platform Bithumb is trading BTC at a value of $3150 at press time. In India, bitcoin is trading at a premium for the past 48-hours as well, reaching $3050 on exchanges like Unocoin. 

Weekly View Analysis  

Weekly technical indicators suggest the rally may test ranges between $2500-2600 over the course of the next two weeks. As usual, the 100 Simple Moving Average (SMA) is continuing to stay well above the 200-term SMA which means buyers are still in control. Over the course of the week, there have been sharp downswings intermittently ranging from $50-150 drops at times.

Fibonacci retracement trend lines show some fluctuations as bitcoin’s current trajectory could slow up and may stabilize in the $2350-$2400 range temporarily. Both Relative Strength Index (RSI) and Stochastic oscillators show some bear traps could come at any moment in the short term. However, most technical indicators and rule books can be thrown out the window these days, as bitcoin’s rising price has surprised even the most experienced traders.

For More Information... 

Go to... https://news.bitcoin.com/bitcoin-price-blazes-past-2400-and-higher-in-japan-india-and-south-korea/

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Michelle J. DeNomme‏ @DeNommeRealtor

                                   Miami, Fort Lauderdale rank as top "buy" markets for retail assets: report As the nation's retail market struggles amid store closings and mounting pressure from online shopping, South Florida stands out as a top market for retail asse... therealdeal.com             

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How-To Guide: Kitchen Appliance Care

RISMEDIA, Wednesday, May 17, 2017— Your kitchen appliances may just be the most used in the house—make sure you're giving them the TLC they need in order to keep them running efficiently!   Microwave Keep it clean. Whether you realize it or not, food and liquids spread across the inside of the unit and actually absorb heat later on, leading to burns and damaging the inside of the machine. By periodically wiping down the inside of the microwave, you can prevent that from happening and lengthen the lifespan of your appliance. Oven/Stop Top Clean the hood! Locate your vent hood's filters and remove them from the vent hood. Fill your sink or a large basin with hot water and a large squirt of degreasing soap and several shakes of baking powder. Add your stove hood filters to the soapy water and allow them to soak for about 10 minutes. Next, remove the vent hood filters from the water and use your sponge to remove the rest of the debris. Once your filters are clean, let them air dry, and after they're fully dry, put the filters back into the vent hood. Check your oven's control panel. Be sure to test all the buttons on your key pad control panels—even the ones you don't use every day. And, avoid using sopping wet sponges or rags to clean your appliance's keypad control panels. You may be slowly damaging the control panels on your appliances during your routine cleaning, which could eventually short-circuit the panel. Don't forget the seal. If your oven door doesn't seal properly, you could be losing over 70 percent of its heat. Inspect the seal for breaks, tears or abnormalities and look for possible leaks. If you spot a problem, replace the seal, which is available for purchase at most home improvement stores.  Refrigerator Organize and optimize. A clean, tidy refrigerator and an organized freezer will help with airflow and keep your fridge running efficiently. Foods that can safely freeze should go closer to the back of the refrigerator, where the cold air duct is located. Place foods that should not freeze closer to the door, where the air will be warmer. Clean the coils! Keeping coils free of dust, debris, and pet hair really does help the refrigerator operate more smoothly and efficiently. You can purchase a special coil-cleaning tool for the job, but a vacuum cleaner attachment or a stiff brush can also do the trick. Just run the vacuum or brush over and under the coils, removing dust as you go. The coils should be cleaned in this manner once or twice a year and more often if you have pets that shed.  Dishwasher Prevent a flooded kitchen. Check for deterioration in the rubber seals around your dishwasher—a minor crack can quickly lead to flooded kitchen. Source: American Home Shield® (AHS®)

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Let's Talk... The Best Cities for Millennials https://nyti.ms/2rbvDsk

Michelle J. DeNomme‏ @DeNommeRealtor  40s40 seconds ago

Let's Talk... The Best Cities for Millennials

Let's Talk... Hot off the Press

Zillow under fire for “Zestimate” system

May 12, 2017 10:30AM By Kenneth Harney

Zillow under fire for “Zestimate” system https://therealdeal.com/miami/2017/05/12/zillow-under-fire-for-zestimate-system/ via @trdmiami

                                   Zillow under fire for "Zestimate" system It was bound to happen: A homeowner has filed suit against online realty giant Zillow, claiming the company's controversial "Zestimate" tool repeatedly undervalued... therealdeal.com             

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Making an Offer: 5 Mistakes to Avoid

In competitive housing markets across the country, making an offer that sticks has become increasingly difficult. Let me help you make the process of buying your dream HomeSweetHome by avoiding making mistakes along the way.

Delaying...Time kills deals!

Dragging your feet means you could wind up paying more in a bidding war situation or missing out on the property altogether.” Buyers need to be ready with their paperwork, such as bank statements, a preapproval letter, and documents supporting proof of funds, from the day they begin house-hunting mode. 

Making an offer for their preapproved amount...

Smart buyers are getting preapproved to show a seller they’re financially able to purchase a home. 

Submitting a lowball offer...

Lowballing a seller often backfires, particularly in a seller’s market. “A lowball offer that isn't backed up with math or comparable sales data is disrespectful and could turn off the seller! 

Waiving inspection contingencies... Don't EVER DO IT! Always have an Inspection!

Not presenting yourself well enough in the Transaction Process...

Contact me today so that I can help you through the Buyer and Seller Transaction Process!

by calling 239.659.2400.

Let's Make Naples Your Next HomeSweetHome!

DAILY REAL ESTATE NEWS | WEDNESDAY, MAY 10, 2017

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Michelle J. DeNomme‏ @DeNommeRealtor  13m13 minutes ago

Let's Talk... WATCH: Luxury prices are skyrocketing in these 5 cities https://therealdeal.com/miami/2017/05/09/watch-luxury-prices-are-skyrocketing-in-these-5-cities/ … via @trdmiami

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Chinese millennials increasingly use apps to buy homes abroad

Buyers are motivated by a depreciating yuan and capital controls

May 09, 2017 09:45AM

Michelle J. DeNomme‏ @DeNommeRealtor  7m7 minutes ago

Let's Talk... Chinese millennials increasingly use apps to buy homes abroad https://therealdeal.com/miami/2017/05/09/chinese-millennials-increasingly-use-apps-to-buy-homes-abroad/ … via @trdmiami

Chinese millennials increasingly use apps to buy homes abroad

therealdeal.com

From TRD New York: While millennials in the U.S. are often known as 

perennial renters, their counterparts in China are snapping up overseas 

homes on their smartphones. Apps like Uoolu, which helps buyers open 

bank accounts and apply for mortgages in other countries, enable Chinese 

Michelle J. DeNomme‏ @DeNommeRealtor  44s44 seconds ago

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