3 Things Homeowners Are Thankful For

Homeowners have many things to be thankful for. For example, as home values increase, so does your family’s wealth. If you’re interested in finding out all the benefits of homeownership, let’s get together today!

3 Things Homeowners are Thankful For:

1. Home Price Appreciation
2. Family Wealth
3. A Safe Place to Call “Home”

More Articles About Naples Florida Real Estate:

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Naples Home and Condo Sales Review

Overall, the Naples home and condo real estate sales review for the week of September 17th shows there were 158 Naples Properties Sold.  This is down slightly from the week before when 193 units sold. North Naples took over the top spot for Naples Home sales with 38 real estate real estate transactions which is the same number of properties sold the previous week. And, East Naples moved into the second position with 32 real estate sales compared to 46 homes sold during the week of the 10th. Additionally, Eastern Collier County had more than usual real estate activity with 26 properties sold. Finally, the City of Naples rounded out the week with 25 transactions versus 25 homes sold the previous week.

So, of the 38 real estate sales in North Naples, 13 percent were vacant lots, 45 percent were condos and 42 percent were single family homes. Also, in East Naples, of the 32 transactions closed, 72 percent were condos and 25 percent were single family homes. The remaining properties sold in East Naples were mobile homes. Finally, of the 25 properties sold in the City of Naples, 72 percent were condos and 28 percent were single family homes.

In Summary, a review of Naples real estate transactions for the week of September 17th were broken down as follows: 82 single family homes, 53 condos 22 vacant lots and 1 mobile home closed in Collier County.

Naples Home and Condo Sales for the Week of September 17th by zip code:

City of Naples

• 34102 – 6 properties sold (3 single family homes and 3 condos)
• 34103 – 11 properties sold (3 single family homes and 8 condos)
• 34105 – 8 properties sold (1 single family home and 7 condos)

North Naples

• 34109 – 11 properties sold (4 single family homes and 7 condos)
• 34110 – 8 properties sold (1 vacant lot, 3 single family homes and 4 condos)
• 34119 – 19 properties sold (4 vacant lots, 9 single family homes and 6 condos)

East Naples

• 34104 – 8 properties sold (4 single family homes and 4 condos)
• 34112 – 14 properties sold (1 mobile home, 2 single family homes and 11 condos)
• 34113 – 10 properties sold (2 single family homes and 8 condos)

Ave Maria and Immokalee

• 34142 – 3 properties sold (3 single family homes)

Big Cypress

• 34117 – 2 properties sold (2 single family homes)

Coco River

• 34108 – 6 properties sold (2 single family homes and 4 condos)

Chokoloskee

• 34138 – 1 property sold (1 condo)

Corkscrew

• 34120 –  11 properties sold (7 vacant lots and 2 single family homes and 2 condos)

Eastern Collier County

• 34114 – 26 properties sold (9 vacant lots, 8 single family homes and 9 condos)

Golden Gate

• 34116 – 2 properties sold (1 single family home and 1 condo)

Marco Island

• 34145 – 12 properties sold (1 vacant lot, 4 single family homes and 7 condos)

Collier County Real Estate Transactions Week of Sep. 17th 2018

Home Sellers in Q3 Netted $61K at Resale

Where do home sellers stand with their home equity? It all depends on how long you’ve lived in the home. Home sellers living in their homes more than 21 years are in the best position to capture and leverage equity.

According to a recent report by ATTOM Data Solutions, home sellers who sold their homes in the third quarter of 2018 benefited from rising home prices and netted an average of $61,232.

This is the highest average price gain since the second quarter of 2007 and represents a 32% return on the original purchase prices.

After the Great Recession, many homeowners were left in negative equity situations but home price appreciation in the recovery period since then has given homeowners something to smile about.

The results from ATTOM fall right in line with data from the latest edition of the National Association of Realtors’ (NAR) Profile of Home Buyers and Sellers. Below is a chart that was created using NAR’s data to show the percentage of equity that homeowners earned at the time of sale based on when they purchased their homes.

Even though those who purchased at the peak of the market netted less than those who bought before and after the peak, the good news is that there was a double-digit profit to be had! Many homeowners believe that they are still underwater which has led many of them to not even consider selling their houses.

Bottom Line

If you are curious about how much equity you’d earn if you sold your home, let’s get together to perform an equity review and determine the demand for your home in today’s market!

November 14, 2018 Posted by Matt

Luxury Home Sold in  Shadow Wood Country Club!

A fantastic client I’ve been working with for years just closed on this luxury home in Shadow Wood Country Club! This beautiful single family 4 bedroom plus den and 3 bathroom golf home is located in an Estero luxury golf community in Southwest Florida.

Luxury Home at 22541 Glenview Lane, Estero FL 34135 – Sold Price $870,000

Shadow Wood Country Club

Shadow Wood Country Club is the only golf community in Estero which includes three 18-hole championship golf courses. The Preserve was designed by award-winning architect Arthur Hills. Residents electing membership in the country club also have full access to the 30,000-square-foot clubhouse at Shadow Wood at The Brooks, with two 18-hole championship golf courses designed by golf course architect Bob Cupp. All golf members have access to all 3 courses regardless of where they live.

Shadow Wood Real Estate

This gated golf community is surrounded by single family homes, coach homes and condos.  Prices range from $470,000 to $2,850,000 for single family homes and condos range from $295,000 up to $620,000.  The community contains some properties located in Bonita Springs and others have an Estero address.  Either way, both cities are located in Lee County.

View Single Family Homes for Sale

View Condos for Sale

November 14, 2018 Posted by Matt

Naples Florida Highland Woods Condo Just Closed

A wonderful couple just closed on a Highland Woods condo in Bonita Springs, Florida! This beautiful condo with two bedrooms and a den overlooks the 18 hole golf course.  Highland Woods Golf and Country Club is a private bundled golf community which includes a host of amenities including golf, tennis, Bocce ball, fitness center and 7 heated pools scattered throughout the community.

9500 Highland Woods Blvd. #7208, Bonita Springs, FL 34135

More About Highland Woods Investment Properties

There are a total of 799 bundled golf units in Highland Woods Country Club.  Your membership dues are included in your monthly association dues. Additionally, in order to be a member you must own property in the community. Single family homes currently start at $455,000 and go up to $744,000.  And, golf condos range from $146,000 to $239,000. Learn more about Highland Woods…

Begin Your Own Property Search for Golf Community Real Estate:

Naples Florida Real Estate Transactions Report

Overall, the Naples real estate transactions review for the week of September 10th shows there were 193 Naples Properties Sold.  East Naples had the most real estate transactions with a total of 46 properties sold. And, North Naples had the second most homes sold with 38 real estate sales. Finally, the City of Naples rounded out the week with 31 transactions.

Additionally, of the 46 real estate sales in East Naples, 59 percent were condos and 33 percent were single family homes. The remaining transactions in East Naples were mobile homes and vacant lots.  Also, in North Naples, of the 38 transactions closed, 16 percent were vacant lots, 50 percent were condos and 34 percent were single family homes. Finally, of the 31 properties sold in the City of Naples, 10 percent were vacant lots, 55 percent were condos and 35 percent were single family homes.

In Summary, a review of Naples real estate transactions for the week of September 10th were broken down as follows: 77 condos, 73 single family homes 41 vacant lots and 2 mobile homes closed in Collier County.

Naples Real Estate Transactions Review for the Week of Sep. 10th by zip code:

City of Naples

• 34102 – 7 properties sold (1 vacant lot, 1 single family home and 5 condos)
• 34103 – 12 properties sold (2 vacant lots, 5 single family homes and 5 condos)
• 34105 – 12 properties sold (5 single family homes and 7 condos)

North Naples

• 34109 – 5 properties sold (1 single family home and 4 condos)
• 34110 – 13 properties sold (2 vacant lots, 4 single family homes and 7 condos)
• 34119 – 20 properties sold (4 vacant lots, 8 single family homes and 8 condos)

East Naples

• 34104 – 12 properties sold (1 mobile home, 3 single family homes and 8 condos)
• 34112 – 14 properties sold (1 mobile home, 3 single family homes and 10 condos)
• 34113 – 20 properties sold (2 vacant lots, 9 single family homes and 9 condos)

Ave Maria and Immokalee

• 34142 – 6 properties sold (3 vacant lots and 3 single family homes)

Barefoot Beach

• 34134 – 2 properties sold (1 single family home and 1 condo)

Big Cypress

• 34117 – 10 properties sold (5 vacant lots and 5 single family homes)

Coco River

• 34108 – 9 properties sold (3 single family homes and 6 condos)

Corkscrew

• 34120 –  16 properties sold (6 vacant lots and 9 single family homes and 1 condo)

Eastern Collier County

• 34114 – 17 properties sold (12 vacant lots, 3 single family homes and 2 condos)

Golden Gate

• 34116 – 6 properties sold (5 single family homes and 1 condo)

Marco Island

• 34145 – 12 properties sold (4 vacant lots, 5 single family homes and 3 condos)

Naples Florida Estate Transactions Week of Sep. 10th 2018

5 Tips for Building a New Home

The current lack of existing inventory on the market has forced many homebuyers to begin looking at buying a new home instead of a re-sale home. Seeing your home built before your eyes is a wonderful experience, but new construction purchases often come with unique hassles. If you’re ready to build your next home, let’s get together so we can help ensure that your next home-buying experience is hassle-free!

Begin Your Own Property Search:

Why Has Housing Supply Increased as Sales Have Slowed Down?

What’s the real deal with housing supply and it’s impact on home buyers?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.

For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.

NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,

“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”

Let’s take a deeper look:

Interest Rates

Since January, 30-year fixed mortgage interest rates have increased nearly a full percentage point (from 3.95% to 4.9%). Fannie Mae, Freddie Mac, the National Association of Realtors, and the Mortgage Bankers Association are all in agreement that rates will continue to increase to about 5.2% over the next 12 months.

“The rise in [mortgage] rates paired with this very strong price appreciation absolutely is slowing housing,” saidFannie Mae’s Chief Economist Doug Duncan.

Even though rates are higher than they’ve been in a decade, they still remain below the average for the 1970s, 80s, 90s, and 2000s!

Mismatch of Inventory

Elizabeth Mendenhall, President of NAR, said it best, “Despite small month over month increases, the share of first-time buyers in the market continues to underwhelm because there are simply not enough listings in their price range.”

Prices of starter and trade-up homes have appreciated faster than their higher-priced counterparts. Over the last 5 years, the lowest-priced homes have appreciated by 47% while the highest-priced homes have appreciated by only 24%.

According to the Institute of Luxury Home Market’s Luxury Market Report, the $1M-and-up price range is now experiencing a buyer’s market. This means that supply (inventory) has finally caught up with demand and buyers are in the driver’s seat when it comes to negotiations. Additionally, many listings in this price range have experienced price cuts in order to entice buyers to put in offers.

Natural Disasters

Although not fully to blame for the national shortage in sales and inventory, natural disasters like Hurricane Florence, Hurricane Michael, and the wildfires on the West Coast have certainly had an impact.

Bottom Line

Additional inventory coming to market could help normalize the housing market and allow incomes to catch up to home prices. For more information about sales and housing supply in our area, let’s get together so we can help you make the best decision for you and your family.

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October Southwest Florida Weekly Real Estate Report

Based on the latest October Southwest Florida Real Estate Report, for the week of October 20th in the Southern Ft. Myers, Estero and Bonita Springs area, there were 122 properties sold. This is up significantly from 87 properties sold during the prior week.

Unlike the previous week, South Fort Myers led the market with the most real estate sales. In all, there were 48 properties sold, up from 31 the prior week.  Estero moved into second position with 39 real estate transactions which was up from the previous week when there were 22 properties sold. Bonita Springs fell to third position with 33 real estate transactions compared to 34 properties sold the week before.

So, of the 48 properties sold in S. Ft. Myers, 42 percent were single family homes, 23 percent were condos and 15 percent were vacant lots. The remaining properties sold in South Fort Myers were multi-family units, commercial units and mobile homes.

Also, of the 39 closings in Estero, 38 percent were condos, 36 percent were vacant lots and 23 percent were single family homes. The remaining Estero properties sold were mobile homes.

Lastly, Bonita Springs finished the week with 33 properties sold. The Bonita real estate transactions consisted of 21 percent vacant lots, 30 percent were condos and 36 percent were single family homes.

In review, based on the October Southwest Florida Real Estate Report for the third week of the month, transactions are broken down by the following property types:  41 single family homes, 37 condos, 37 vacant lots, 3 mobile homes, 2 multi-family units and 2 commercial units sold during the week.

October Southwest Florida Real Estate Report – Organized by zip code

Bonita Springs

• 34134 – 8 properties sold (1 multi-family unit, 1 commercial unit, 1 single family home and 5 condos)
• 34135 – 25 properties sold (2 mobile homes, 7 vacant lots, 11 single family homes and 5 condos)

Southern Fort Myers

• 33912 – 14 properties sold (1 commercial unit, 2 vacant lots, 4 single family homes and 7 condos)
• 33913 – 18 properties sold (7 vacant lots, 7 single family homes and 4 condos)
• 33967 – 16 properties sold (1 multi-family unit, 6 vacant lots and 9 single family homes)

Estero

• 33928 – 29 properties sold (1 mobile home, 14 vacant lots, 6 single family homes and 8 condos)
• 33967 – 2 properties sold (1 single family home and 1 condo)
• 34134 – 4 properties sold (2 single family homes and 2 condos)
• 34135 – 4 properties sold (4 condos)

Miromar Lakes

• 33913 – 2 properties sold (1 vacant lot and 1 condo sold)

October Southwest Florida Real Estate Sales Week of Oct. 20th 2018

More Articles About Southwest Florida Real Estate:

Naples Golf Guy Latest Market Report

Lee County Real Estate Transactions Week of October 13th

Bonita Springs Real Estate Update

Naples Third Quarter Real Estate Review

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5 Tips When Buying a Newly Constructed Home

Are you considering a newly constructed home over the purchase of an existing home? Or perhaps you are thinking of buying a tare-down property and building a new home. Either way, let me help lead the way. Here are some tips to consider when buying a newly constructed home.

The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.

To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction:

1. Hire an Inspector

Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between 1-3 inspections, depending on your preference (the foundation inspection, the pre-drywall inspection, and a final inspection).

These inspections are important because the inspector will often notice something that the builder missed. If possible, attend the inspection so that you can ask questions about your new home and make sure the builder fixes any problems found by the inspector.

2. Maintain good communication with your builder

Starting with the pre-construction meeting (where you will go over all the details of your home with your project manager), establish a line of communication. For example, will the builder email you every Friday with progress updates? If you are an out-of-state buyer, will you receive weekly pictures of the progress via email? Can you call the builder and if so, how often? How often can you visit the site?

3. Look for builder’s incentives

The good thing about buying a new home is that you can add the countertop you need, the mudroom you want, or an extra porch off the back of your home! However, there is always a price for such additions, and they add up quickly!

Some builders offer incentives that can help reduce the amount you spend on your home. Do your homework and see what sort of incentives the builders in your area are offering.

4. Schedule extra time into the process

There are many things that can impact the progress on your home. One of these things is the weather, especially if you are building in the fall and winter. Rain can delay the pouring of a foundation as well as other necessary steps at the beginning of construction, while snow can freeze pipes and slow your timeline.

Most builders already have a one-to-two-week buffer added into their timelines, but if you are also in the process of selling your current home, you must keep that in mind! Nobody wants to be between homes for a couple of weeks.

5. Visit the site often

As we mentioned earlier, be sure to schedule time with your project manager at least once a week to see the progress on your home. It’s easy for someone who is not there all the time to notice little details that the builder may have forgotten or overlooked. Additionally, don’t forget to take pictures! You might need them later to see exactly where that pipe is or where those electrical connections are once they’re covered up with drywall!

Bottom Line

Watching your home come to life is a wonderful experience that can sometimes come with hassles. To avoid some of these headaches, keep these tips in mind!

If you are ready to put your current home on the market and find out what new construction is available in your area, let’s get together to discuss your options!

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