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MEDIAN HOME PRICE INCREASES 17 PERCENT IN MARCH

Naples, Fla. (Apr. 12, 2013) - The Naples area overall median home price increased 17 percent for the 12 months that ended in March 2013, 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).

The NABOR® March report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an Overall Market summary. The NABOR® March sales statistics are presented in chart format, with these overall (single-family and condominium units) specifics:

- The overall median closed price increased 17 percent from $184,000 at the end of March 2012 to $215,000 for the 12-month period ending March 2013.

- Overall pending sales increased 4 percent from 10,204 units to 10,633 units for the 12-month period ending March 2013. Overall pending sales increased 22 percent in the $300,000 to $500,000 category from 1,414 units to 1,729 units; 13 percent in the $500,000 to $1 million category, from 1,052 units to 1,190 units; increased 18 percent in the $1 million to $2 million category, from 452 units to 532 units; and increased 12 percent in the $2 million plus category, from 277 units to 310 units, respectively for the 12-month period ending March 2013.

- The average DOM (Days on the Market) decreased 8 percent overall from 171 days in March 2012 to 157 days in March 2013.

- Inventory decreased 14 percent from 7,599 units in March 2012 to 6,565 units in March 2013.

- Overall pending sales in the Naples coastal area increased 9 percent from 1,912 units to 2,091 units, and closed sales increased 15 percent, from 1,653 units to 1,897 units, for the 12-month period ending March 2013.

The NABOR® 2013 First Quarter Report provides comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® first quarter sales statistics are presented in chart format, including these overall (single-family and condominium units) findings:

- Overall closed sales decreased 2 percent, from 2,220 units in first quarter 2012 to 2,167 units in first quarter 2013. Overall closed sales increased 13 percent in the $300,000-$500,000 category, from 309 units to 350 units, and increased 15 percent in the $1 million-$2 million category, from 99 units to 114 units, from first quarter 2012 to first quarter 2013, respectively.

- The median closed price increased 24 percent overall, from $190,000 in first quarter 2012 to $235,000 in first quarter 2013. In the $300,000 and under category the median closed price increased 18 percent from $135,000 in first quarter 2012 to $159,000 in first quarter 2013.

- Overall pending sales decreased 2 percent, from 3,664 pending sales in first quarter 2012 to 3,598 pending sales in first quarter 2013.

- The average DOM (Days on the Market) decreased 4 percent overall from 169 days in first quarter 2012 to 162 days in first quarter 2013.

Steve Barker, Advising Broker for Naples Realty LLC stated, "For two years there has been a progressive increase in the median closed price. In the under $300,000 category for the first quarter 2013, the median closed price increased 18 percent. Therefore, we may see homes moving into the higher category $300,000 to $500,000 price range."

"It has been four years since we've seen the median closed price at this level," stated Mike Hughes, Vice President and General Manager of Downing-Frye Realty."

It was back in April of 2009 that we last saw a similar overall median closed price.

So we continue to remain positive about the real estate market and its support of the local economy."

 

"Sales of traditional properties continue to rise from 51 percent of the market in July 2009 to 84 percent as of the end of March 2013," stated Brenda Fioretti, Managing Broker at Prudential Florida Realty. "The statistics demonstrate that there are significantly less distressed properties in the Naples area."

Dr. Gary L. Jackson, Director of the Regional Economic Research Institute at Florida Gulf Coast University stated, "Collier County and Southwest Florida are continuing to recover from the housing bubble and financial market crisis that began in 2006.  This has been a very slow and somewhat "choppy" recovery but we are seeing improvements in our local economy.  Collier County taxable sales were $651.3 million in December 2012, four-percent higher than December 2011 indicating improvement in consumer spending.  Passenger traffic at Southwest Florida International airport in January 2013 was up seven percent from January 2012.  Collier County's tourism activity was strong with January 2013 tourism tax revenues increasing to $2,057,493, an eight-percent increase over January 2012.  Collier County issued 110 single-family building permits in February 2013, up from 58 in February 2012.  Collier County's seasonally-adjusted unemployment rate decreased to 7.8 percent in January 2013 compared to 7.9 percent in December 2012 and 8.9 percent in January 2012, with an increase of 592 persons employed."

As alwaysif you have any questions please feel free to contact me by calling 239.404.7787 or by e-mail!

I hope you have a fantastic weekend!

Michelle

View the March 2013 Market Statistics

View the First Quarter 2013 Market Statistics

Prudential Florida Realty

Michelle@NaplesHomeSweetHome.com

Cellular Phone 239.404.7787

www.NaplesHomeSweetHome.com

Michelle J. DeNomme, REALTOR, GRI

Office: 239.659.2400

E-Fax Number:  239.236.5550                      

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

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.

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 4,000 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.

 

 

 

 

 

 

Let's Talk...

Greetings from Sunny Naples!

2012 ended with a bang and showed a Naples Median Sales price increase of 17!

Double digit appreciation in Naples was predicted in April 2012 by the Chief Economist of the National Association of Realtors, Dr. Lawrence Yun, and many people were skeptical about his prediction.  Well, Dr. Yun was right.

Naples inventory of homes for sale continues to decline and we are currently at our lowest inventory since we began tracking in 2007.  There are currently only 6,557 homes available for sale which represents 7 months of inventory.

Let's Talk Today about Your Move to Naples!!!

Let's Talk... Hot off the Press!

2012 MEDIAN CLOSED PRICE INCREASED 17 PERCENT!!!

2012 MEDIAN CLOSED PRICE INCREASED 17 PERCENT... Naples, Fla. (Jan. 18, 2013) - The Naples area overall median closed price increased a remarkable 17 percent from $175,000 in 2011 to $204,000 in 2012, 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). "At our annual Economic Summit held in April, Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS®, predicted a 10 percent increase in the overall median price by the end of 2012," stated Brenda Fioretti, Managing Broker at Prudential Florida Realty. "At the time, many people were incredulous with his assessment, but now today we are delighted to see the real estate market's prices rebounding and surpassing estimates." The NABOR® 2012 Annual Report provides comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® annual sales statistics are presented in chart format, including these overall (single-family and condominium units) findings: - Overall closed sales increased 9 percent, from 8,345 units in 2011, compared to 9,121 units in 2012. Overall closed sales increased 20 percent in the $300,000-$500,000 category, from 1,129 units to 1,357 units, and increased 29 percent in the $500,000-$1 million category, from 794 units to 1,022 units, from 2011 to 2012, respectively. - Overall pending sales increased 6 percent, from 10,070 pending sales in 2011 to 10,683 pending sales in 2012. - Overall inventory decreased by 13 percent, from 7,581 listed properties in 2011 to 6,557 listed properties in 2012. Pending sales with contingent contracts are included in the overall inventory number. - Overall pending sales in the Naples coastal area increased 15 percent, from 1,791 units to 2,057 units, in 2012. Closed sales increased 14 percent, from 1,641 units in 2011 to 1,869 units in 2012. "2012 was a very good year across the board for the Naples area real estate market," stated Mike Hughes, Vice President and General Manager of Downing-Frye Realty. "From overall pending sales to closed sales and higher median closed prices, along with a continued decrease in inventory, it was a strong year. So strong, in fact, that we now would like to see higher levels of available inventory." Thomas A. Bringardner Jr., President and CEO of Premier Commercial, added "The continued economic recovery, both nationally and locally, as well as the decrease in the unemployment rate (dropping to 7.8 percent for Collier County in November 2012) and increase in tourism is benefitting the residential and commercial market." "The overall commercial market has remained relatively steady and now we are seeing modest improvements," he said. "Recent large deals, including the sale of the Fifth Third Bank building and the Venetian Village, in addition to large land deals, highlight the improvement in the commercial market." The NABOR® 2012 Fourth Quarter Report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® fourth quarter statistics are presented in chart format, including these overall (single-family and condominium units) findings: - Overall closed sales increased 22 percent, from 1,689 units in fourth quarter 2011 to 2,061 units in fourth quarter 2012. Overall closed sales increased 58 percent in the $300,000-$500,000 category, from 207 units to 328 units, and increased 51 percent in the $500,000-$1 million category, from 146 units to 221 units, from fourth quarter 2011 to fourth quarter 2012, respectively. - The median closed price increased 24 percent overall, from $165,000 in fourth quarter 2011 to $205,000 in fourth quarter 2012. - Overall pending sales increased 8 percent, from 2,250 pending sales in fourth quarter 2011 to 2,422 pending sales in fourth quarter 2012. - Overall inventory decreased 13 percent, from 7,580 units for fourth quarter 2011, compared to 6,557 units in fourth quarter 2012. As always if you have any questions please feel free to contact me by e-mail or by calling 239.404.7787! I hope you have a fantastic weekend! Michelle To view the entire report, visit www.NaplesArea.com View the 2012 Annual Market Statistics View the 4th Quarter 2012 Market Statistics View the December 2012 Market Statistics

Prudential Florida Realty

Michelle@NaplesHomeSweetHome.com

Cellular Phone 239.404.7787

www.NaplesHomeSweetHome.com

Michelle J. DeNomme, REALTOR, GRI

Office: 239.659.2400

E-Fax Number: 239.236.5550

Blog Page: http://michelledenomme.blogspot.com

Twitter Me: DeNommeRealtor

 

Let's Talk Bolero at Tiburon!!!

2617 Estrella Court, Unit 2
Listed Price  $675,000

 

 

 

 

 

 

 

 

Buyer Incentive of Gifted Signature Membership!!!

 

..."Majorca." Second Floor "Bolero" Condominium at Tiburon. Bolero at

Tiburon islocated within it's very own enchanted enclave of only Twenty

Low-Rise Buildings. Talk about the ultimate resort destination that offers

the finest in luxury living... Within the naturally preserved surroundings

of Tiburon is the world famous Greg Norman Designed Championship

Golf Course along with the Ritz Carlton Resort Hotel... Bolero offers you

a private, gated community with it's very own resort style pool and this

unit is situated with the most breathtaking views of not only the golf course,

but an enchanting lake and water feature as well... Come and take a

look at all of the owner enhancements with over 2,230 square feet of living

area not including the Lanai, with Three Bedrooms, Two full Bathrooms

magnificently appointed Florida room, over sized Great room!

Let's Talk today about Your Move to Bolero at Tiburon!!!

 

 

2625 Estrella Court, unit 3, Penthouse

Listed Price $739,000

 

 

 

 

 

 

 

 

 

 

 

Buyer Incentive of Signature Membership!!!

Third Floor "Terrassa Model Floor Plan" with the most breathtaking

Views in allof "Bolero"!!! "Bolero" created by WCI with in the Master

Planned Community ofTiburon. This ultimate resort destination offers

the finest in Luxury Living with naturally preserved surroundings such

as the World Famous Greg Norman Designed Championship Golf Course.

Once you enter the Private Gated Community of " Bolero" you will be

enchanted by an Enclave of Twenty Low-Rise Buildings, each with Three

Floors.This Third Floor "Bolero" Unit has over 2,340 Square Feet of Living

Area with Three Bedrooms and Two Full Baths, situated with breathtaking

views of not only the Golf Course, water features as well!!! Come and take

a look at the Owner Enhancements... Electronic Hurricane Shutters, Plantation

Shutters. Within the "Bolero" Community you will find your private Resort

Style Pool!

 

Contact me today about your move to Tiburon's Bolero!!!

239.404.7787 or by e-mail Michelle@NaplesHomeSweetHome.com

 

 

Let's Talk Tiburon!!!

If you are looking for the most Spectacular Resort Development in all of South West Florida look no further! This Master planned Development is just about completed, featuring Single Family Estate Home at Escada Estates, Serafina, Marsala and Norman Estates, Mid-Rise and Low- Rise Condominium Communities, Bolero, Castillo, Marquesa Royal and the New Esperanza Community!!! I have become your Tiburon Expert starting back in 1998 as I watched
Tiburon grow from the Ruff that it was many years ago to the Gem that it is today.  I am honored to be the Listing Agent-REALTOR with the most beautifully designed listings in all of Tiburon at Marsala, Serafina, Bolero and Castillo. Let’s Talk Today About Your Move to Tiburon, feel free to contact me by calling 239.404.7787 or by E-Mail, Michelle@NaplesHomeSweetHome.com

Prudential Florida Realty

Michelle@NaplesHomeSweetHome.com

Cellular Phone 239.404.7787

www.NaplesHomeSweetHome.com

Michelle J. DeNomme, REALTOR, GRI

Office: 239.659.2400

E-Fax Number:  239.236.5550                      

Blog Page:   http://michelledenomme.blogspot.com    

Twitter Me: DeNommeRealtor

                      Let's Talk...
                      Happy Holiday & Happy New Year!

Naples Holiday Boat Parade this Year!!!

 

What's New in Naples and Well Worth Visiting!!!

Tavern on the Bay    Peace Love Donuts   Three60 Market

    

 

Naples Soap Co.    The Brick

   

Palm Cottage

 

What's Fun To Do in Naples!!!

Philharmonic Events

Gulfshore Playhouse

Naples Players

Von Liebig Art Center

Mercato Shops Calendar

5th Avenue South Calendar

3rd Street South Calendar

The Venetian Village  

Waterside Shops Calendar

King Richards Family Fun Park

"Eventful" Events Around the Town

 

As always if you are looking for any information regarding the South West Florida Market, please feel free to contact me by e-mail or calling 239.404.7787.

I hope you have a fantastic New Year!

Michelle

Prudential Florida Realty

Michelle@napleshomesweethome.com

Cellular Phone 239.404.7787

www.NaplesHomeSweetHome.com

Michelle J. DeNomme, REALTOR, GRI

Office: 239.659.2400

E-Fax Number:  239.236.5550                     

Blog Page:  http://michelledenomme.blogspot.com

Twitter Me: DeNommeRealtor

Let's Talk... Short Sales!

As Short-Sale Tax Break Nears End, Pressure Mounts on Homeowners

By Kimberly Miller

RISMEDIA, Thursday, December 27, 2012— (MCT)—The race is on to finalize short sales and seal the deal on mortgage reductions as the Dec. 31 expiration of a massive tax break for struggling homeowners looms. Since 2007, homeowners whose banks have forgiven unpaid mortgage debt after a short sale, principal reduction or foreclosure have not been required to count that money as income on their tax returns. But the sunset of the federal Mortgage Forgiveness Debt Relief Act means borrowers, who have been spared tens of thousands of dollars depending on the amount forgiven and their tax bracket, may be faced with whopping IRS bills after losing their home. Florida Attorney General Pam Bondi is leading a group of attorneys general from around the country in lobbying for an extension of the act. In a Nov. 20 letter to lawmakers, Bondi and Connecticut Attorney General George Jepsen said allowing the tax break to expire would dilute the $25 billion mortgage settlement made with the nation’s five largest banks in March. “Unless Congress acts, all of the remaining debt relief to be provided in 2013 under the National Mortgage Settlement will likely be considered taxable income,” the letter said. Settlement monitor Joseph Smith, who oversees bank compliance with the agreement, is staying out of the fray. He says the extension is “under the purview of elected officials.” At the same time, the Congressional Budget Office estimates extending the relief could cost $1.3 billion in lost revenue to the federal government during a period when it is “desperate for money,” says Anthony Sanders, a George Mason University real estate finance professor who is in favor of an extension. “People are already suffering enough who go through default and foreclosure, and to suddenly give them a tax bill is incredibly cold-hearted,” Sanders says. “The government was a major contributor to the housing bubble and burst, so it’s only fair that it extend the act to help households that have been absolutely crushed by the market.” In August, language that would extend the mortgage debt relief act was rolled into the Family and Business Tax Cut Certainty Act of 2012 (S.3521). The act includes about 50 tax-cutting provisions and was approved by the Senate Finance Committee in August. An aide to finance committee Chairman Max Baucus, D-Mont., says the act is awaiting a vote by the full Senate but has not been given a calendar date. While many economists, REALTORS® and accountants believe the mortgage debt relief will be extended, they can’t say how or when. Sanders says it’s caught up in party politics and a debate that now includes whether to amend the mortgage-interest deduction tax break, a decades-old law that annually costs the government about $100 billion. Even if an extension to the debt relief act isn’t approved by Dec. 31, it could be voted on in 2013 and made retroactive, Sanders says. Accountant Karyl Neal of the firm Moore, Ellrich & Neal in Palm Beach Gardens, Fla., says settling mortgage debt relief is important but may be less of a priority for lawmakers than averting the fiscal cliff. Tell that to the owners of the home at 8 Sunningdale Circle in West Palm Beach’s President Country Club, who are trying to finish a short sale before the debt relief act expires. If they don’t, they face an estimated $340,000 in forgiven debt on which they will have to pay taxes, says Shannon Brink, their REALTOR®. “We’re scrambling like maniacs to get it closed,” Brink says. “I have some anxiety, but I’ve pulled off miracles before.” Jeff Shingledecker listed his Palm Beach Gardens, Fla., home as a short sale in April. He considered a loan modification that would increase the term of his mortgage to 40 years but decided to do a short sale after learning about the debt relief act. After several offers, he says he was “fortunate enough” to close the deal in October and expects to have about $108,000 of debt forgiven. Considering Shingledecker’s tax bracket, he would have owed about $27,000 in taxes. “If the act expires, you will be asking people to pay cash on an income they never received and with cash they don’t have,” says John DiBiase, communications director for the National Association of REALTORS®’ government affairs office. “I think that is well-understood, especially by members of the Florida delegation.” Not everyone can benefit from the debt relief act. It covers only forgiven debt on principal residences and amounts up to $2 million, or $1 million if married but filing separately. The act also does not apply to second mortgages where the money was used for non-household expenses. Joanne Epstein, a South Florida REALTOR®, has 18 short sales scheduled to close by Dec. 31 and she’s “breathing down the banks’ necks” to get them finalized. “They say, ‘We have a stack of files. We’re very busy. We’ll get back to you,’ ” Epstein says. “Well, I’m sorry — that doesn’t work. These people need to get this over with so they can move on with their lives.” DEBT RELIEF ACT Q&A: QUESTION: What’s happening? ANSWER: The Mortgage Forgiveness Debt Relief Act of 2007 is scheduled to expire Dec. 31. Q: Who’s affected? A: If no extension is granted, homeowners will have to pay taxes on any unpaid balance forgiven by a lender after a short sale, modification or foreclosure. The Mortgage Forgiveness Debt Relief Act excludes that income from being taxed through Dec. 31. Q: What’s happening? A: Congress is considering extending the act, but it could cost the federal government $1.3 billion in lost revenue. Q: What’s next? A: A bill called the Family and Business Tax Cut Certainty Act of 2012 has been approved by the U.S. Senate Finance Committee and is slated for a vote in the full Senate. ©2012 The Palm Beach Post (West Palm Beach, Fla.) Distributed by MCT Information Services Copyright© 2012 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission.