Naples, Florida Area Median Home Price Increased 17 %

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.  

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 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.

Please call the Sandlin Team at 239-642-4450 or e-mail us at info@marcorealtysource.com for more details.

Marco Island/Naples Prime Location for Vacation and Investment Purchases

According to the current National Association of Realtors® NAR 2013 Investment and Vacation Home Buyers Survey, which covers existing- and new-home transactions in 2012, there was a 10.1 % increase of vacation home sales. Vacation-home sales accounted for 11 percent of all transactions (investor, vacation and owner-occupied).  “Seventy-eight percent of all second-home buyers said it was a good time to buy, compared with 68 percent of primary residence buyers. “This suggests that second-home buyers tend to be a step ahead of general buyers in sensing a market recovery,” Yun says. Buyers plan to own their recreational property for a median of 10 years.

Lifestyle factors remain the primary motivation for vacation-home buyers. Buyers listed many reasons for purchasing a vacation home: 80 percent want to use the property for vacations or as a family retreat; 27 percent plan to use it as a primary residence in the future; 23 percent plan to rent to others; and 23 percent wanted to diversify their investments or saw a good investment opportunity.  “We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes,” says NAR Chief Economist Lawrence Yun. . “With rising prices and limited inventory, investors are likely to step back in coming years.”  The portion of investment sales was 24 percent in 2012, the second highest share since 2005. Thirty-five percent of investment buyers purchased more than one property. Investors generally are renovating and improving properties before placing them back on the market to resell at a profit.

Fifty-five percent of investment buyers said they purchased for rental income, 30 percent wanted to diversify their investments or saw a good investment opportunity, and 20 percent wanted to use the home for vacations or as a family retreat. Forty-seven percent of investment buyers said they were likely to purchase another investment property within two years, as did 37 percent of vacation-home buyers.

The South was the most sought after purchase area with forty-five percent of the vacation homes purchased last year in the South and thirty-six percent of investment properties purchased last year in the South. The Marco Island/Naples market is reaping the benefits of both the buyers’ preference for properties in the south and lifestyle properties as our market is unbeatable for both of those criteria.
Please call the Sandlin Team direct today at 239-642-4450 or e-mail info@marcorealtysource.com for more details.

Marco Island & Naples FL Real Estate Sales are up!

More good news! The number of active listings is down 22% from a year ago which also improves the overall market absorption rate. In November, the number of home pendings was up 10% over a year ago November. Lot pendings remained the same.  The number of condo pendings was up 50%, a real boost for the condo market.  The number of closed homes in November was up 47% over a year ago. The number of closed lots in November was up 100% from 7 closed lots a year ago November to 14 closed lots this November. The number of closed condos in November was up 78% from a year ago.  We are excited about these positive market indicators- now is the time to buy!

Market Stats for November 2012

Buying in Marco Island is not only buying a good investment, it is buying a great lifestyle!  The market has turned the corner with significant and steady growth in the number of units sold and in the dollar volume sold.  The number of properties for sale is down 24 % from a year ago.  As of November there were 290 single family homes for sale, 510 condos for sale and 253 vacant lots for sale.  Year to date as compared to the same period a year ago, there was a 21.2 % increase in number of units sold: 294 single family homes, 395 condos and 146 lots. 

The prices are right and heading up, the interest rates are historically low,  and the lifestyle can’t be beat- our weather, beach, boating, golfing, fishing, tennis, shelling, bird watching, restaurants & shopping  and more.  Don’t miss your opportunity to own a piece of paradise.  E-mail us at info@MarcoRealtySource.com for more details.  

November 2012 Excellent Sales Activity on Marco Island

Here is a recap of the sales activity on Marco Island as reported through MLS statistics for the first 3 quarter of 2012 as compared with first 3 quarters of 2011:

2012: 858 total sales

2011: 708 total sales

The total sales volume is up $57 million or 15.69 percent

Current Inventories as of October 10:

Single family: currently 271 for sale, last year 392 for sale

Condominiums:  currently 464 for sale, last year 655 for sale

Vacant lots: currently 239 for sale, last year 337 for sale

Clearly many people are taking advantage of the historic low interest rates with 30 year fixed rates below 4% as well as the excellent price opportunities to buy their piece of paradise on Marco Island.

 October 2012 Market Stats for Naples, Florida Area

A 12 percent jump in overall pending sales marked the third quarter of Naples Area real estate, as compared to the third quarter 2011. In addition, overall pending sales for September 2012 increased 22 percent compared to September 2011, according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County. 

"The Naples area has just moved from a buyers' market to a buyers' and sellers' market with tremendous opportunities for both," stated Brenda Fioretti, NABOR Media Relations Chairman.

Cindy Carroll, Vice President of Carroll & Carroll Real Estate Appraisers & Consultants stated, "More inventory would be helpful to the market. Resale inventory continues to decline despite the fact that new home building has returned."

Pending sales of single family homes in the $500,000 to $ 1 M category had an increase of 15 percent from third quarter 2011 to third quarter 2012, and closed sales were up 4 percent for the same time period. The strong activity contributes to the inventory levels falling below 3,000 for single family homes.

The third quarter report provides quarterly comparisons of single-family home and condo sales (via the Sunshine MLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties for third quarter 2012 compared to third quarter 2011:

• Overall inventory decreased 12 percent from 7,069 for the third quarter 2011 compared to 6,195 in the third quarter 2012.
   
• Overall pending sales increased 12 percent from 2,103 pending sales in the third quarter 2011 to 2,362 pending sales in the third quarter 2012.
   
• The median closed price increased 10 percent from $175,000 in the third quarter 2011 to $192,000 in the third quarter 2012.
   
• Naples coastal area overall pending sales increased 17 percent reflecting 388 pending sales in the third quarter 2012 compared to 331 pending sales in the third quarter 2011. 
   
• Overall pending sales increased 96 percent in the $300,000 to $500,000 category from 67 pending sales in September 2011 to 131 pending sales in September 2012.
   
•  In the $500,000 to $2 million price categories for the third quarter, there was an increase in pending and closed sales

Now is the time to take advantage of current market conditions and the American Dream of Homeownership. E-mail the Sandlin Team today for more details at info@mMarcoRealtySource.com.

The number of active homes for sale  is down 27% from a year ago. The number of active condos for sale is down 23% from a year ago. The number of active lots is down 23% from a year ago.  This trend of decreasing inventory has been consistent and is a positive market indicator.

The number of homes under contract is up 50% from year ago at this time.  The number of condos pending is exactly the same as a year ago at this time.  The lots sales activity is still the most sluggish with half as many pending lots as homes or condo. However, the number of pending lots is up 150% from a year ago so the tide is turning and the activity in lot sales is increasing.

The number of closed homes in August was up 57% over a year ago August. The number of closed condos was up 30% over a year ago. And again, the lots activity improvement was the most significant but still has a way to go to catch up with the number of closings up 166% over a year ago.

Call the Sandlin Team for more detailed info on the best market opportunities. 239-389-3200.

The number of active listings on the market in Marco Island is down 24% from a year ago. This is a good positive market indicator. The number of homes under contract is up 43% over a year ago. The number of pending lots is up 80%. And the number of condos under contract is up 49% over a year ago. These are very positive numbers as of August 1, 2012 as compared with August 1, 2011. 

WASHINGTON, D.C. – Where will baby boomers go to retire? A new survey conducted by Mason-Dixon Polling & Research for the Consumer Federation of the Southeast finds one in three could move out of their home state in search of low taxes , low housing costs, pleasant climates and quality health care. They also want diverse recreational activities, supportive senior services, arts and cultural opportunities, nearby beaches and access to education.

The baby boom generation has 78 million members, and the first wave – those born in 1946 – reach the full age for Social Security retirement benefits this year.

According to the survey, a full third of baby boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population.

“According to this survey, substantial numbers (of baby boomers) are interested in relocating in retirement,” says Walter Dartland, president of the Consumer Federation of the Southeast. “The decisions they make about where they will retire will have a huge impact not only on their families’ finances but on the communities to which they move.”

Attracting even a small percentage of boomers can significantly impact a community. If just 0.3 percent move to a single area, it adds an estimated 1 billion per year in new economic income through jobs and new business.

“This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live,” says Jeff Johnson, AARP Florida’s interim state director. “AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population.”

Survey highlights

• More than half (58 percent) plan to buy a house in their retirement relocation destination.

• Some 96 percent of baby boomers surveyed say top-quality health care services are “very” or “somewhat” important to them in considering a relocation destination.

• Affordable housing ranks second, with nearly 92 percent ranking that as a “very” or “somewhat” important criterion.

• A warm, welcoming year-round climate is “very” or “somewhat” important to 85.5 percent – but a strong plurality of this group want their warm summers to be paired with a few cooler months.

•Low local taxes are “very” or “somewhat” important to 81.1 percent.

• Eight out of 10 relocating boomers want affordable recreational opportunities in a relocation destination, and about the same number seek strong local services for elder care.

• Seven in 10 prefer a mid-size city or small town.

• Arts and cultural opportunities are very or somewhat important to three in four.

• Beaches or ocean nearby is very or somewhat important to about six in 10.

• Educational opportunities are important to about half. A large university is a plus for four in 10 boomers willing to consider relocation.

• Diversity in a location is very or somewhat important.

Almost 54 percent of respondents indicated that the weak economy was not delaying their retirement plans, but about 36 percent said that the economy had delayed retirement.

Pollsters asked respondents to name – unprompted and with no suggested options – a state they might consider relocating to for retirement. About 18 percent mentioned Florida as a top relocation destination.

Call or e-mail today for more details on the best real estate opportunities in Marco Island and Naples. 239-389-3200 or info@MarcoRealtySource.com

(The survey, conducted by Mason-Dixon Polling & Research between Nov. 14 and 22, 2011, surveyed 1,100 Americans ages 47 to 65 who said they would relocate in retirement, were considering relocation or weren’t sure. All respondents surveyed lived in the eastern half of the U.S., outside of Florida. The survey carries a margin of error of plus or minus 3 percent.)

Summer Home Sales Are Up Significantly In Marco Island, FL

There are some very positive statistics directly from the Marco Island Area Association of Realtors Multiple Listing Service which continue to show high sales activity for Marco Island.

Specifically, pending listings for all property types are up from July 2010 to July 2011 by 46.43%. The percentage of all property types that closed on Marco Island is up by 68% from last year. In fact, the average sales price is up by 27.17% and the median sales price is up 19.05%. The total dollar volume was up 104.71% in the yearly July 2010 and July 2011 comparison.

A breakdown of property types shows higher closed statistics for all property types, single family, lots and condos. In the July 2010 and July 2011 comparison, the number of single-family home sales was up 63.16 %, the average sales price was up 24.81% and the median sales price was up 27.61%. The total volume sold was up 103.63%.

Closed lot sales were up 66.67% in the same comparison and the average sales price was up 84.45 percent. The number of multifamily properties closed was up 53.33% and the average sales price was up 12.57 percent.

Meanwhile, inventory on Marco Island continues to decrease. Active listings of all property types are down in the July 2010 and July 2011 comparison by 13.90%.

New listings coming on the market were down in the same comparison by 13.77%.

The good news on sales along with historically low interest rates makes this an exceptional opportunity time to buy on Marco Island.  Please call or e-mail us today- it would be our privilege to serve you.  info@MarcoRealtySource.com or 239-389-3200.

Wealthy Americans upgrade to pricier primary homes  July 13, 2011

NEW YORK – A new survey by the independent New York City-based Luxury Institute and the Institute for Luxury Home Marketing finds that high net-worth U.S. homeowners are taking advantage of the downturn in prices and trading up into higher-priced residences.

Lured by lower prices, one in four U.S. consumers with an annual income of $150,000 or more have bought a residential property since 2008 at a median purchase price of $509,000 – an increase of 3.2 percent from the 2005 to 2007 period.   Seventeen percent plan to purchase additional property this year, while 23 percent of those younger than 50 plan to buy in 2011.
More than one-third (37 percent) of the wealthy value their homes at $1 million or higher, while 32 percent assess their primary residence to be worth $500,000 or less.

“Luxury is the good news story in real estate,” says Laurie Moore-Moore, CEO of The Institute for Luxury Home Marketing. “The number of wealthy households has jumped back to pre-recession levels and affluent home buyers are actively purchasing. The National Association of Realtors’ statistics show that national home sales at $1 million and above were up more than 18 percent year-over-year in 2010. Strong activity continues this year as well.”

U.S. Homes: Now the Best Deal in Recorded History - June 1, 2011

By Dr. Steve Sjuggerud

Now is literally the best time in recorded history to buy a house in America…

Right now – today – U.S. real estate is the most affordable it's ever been. Ever.

When I say "affordable," I'm looking at three things: house prices, mortgage rates, and incomes.

With the Affordability Index near 200, the median family has 200% of the income necessary to buy the median home (or more specifically, to qualify for a conventional loan on the median home).

It's easy to see where we are now…

Right now, as you know, house prices are sitting near new lows for this cycle, down by roughly one-third (depending on who's counting). And right now, mortgage rates – after ticking above 5% earlier this year – are all the way down to 4.5% again, near all-time lows.

So it's simple: With the worst house-price crash in American history, combined with the lowest mortgage rates in history, you can now afford more home than ever.

Now is the best time in American history to do it.

Reprinted from www.daily wealth.com investment newsletter Wednesday June 1, 2011.

About the author...

Dr. Steve Sjuggerud is the founder and editor of one of the largest financial newsletters in the world, True Wealth which he began writing in 2001. Steve's investment philosophy is simple: "You buy something of extraordinary value at a time when nobody else wants it. And you sell it at a time when people are willing to pay any price to get it."

Great News for Florida Real Estate Sales - April 20, 2011

Florida’s existing home and existing condo sales rose in March, according to the latest housing data released by Florida Realtors®. Existing home sales increased 12 percent last month with a total of 18,522 homes sold statewide compared to 16,540 homes sold in March 2010, according to Florida Realtors. Statewide sales of existing condos last month rose 24 percent compared to the year-ago sales figure.

Marco Island & Naples Real Estate Market News- October 1, 2010

How stable are our current prices? The good news is Marco Island led most of the country in the last appreciating market. Our prices on the Island peaked very early in 2005 while even Naples was several months behind us. On the other side of that coin, prices for us started coming down sooner than most and we are poised to begin growth again before our neighbors. In Sept which is traditionally our slowest sales month, our Sandlin Team had 8 new sales and 5 closings, the entire MLS had 52 sales in Sept- that is very good especially considering there were 36 MLS sales in August. No one has a crystal ball. However, the trend says we are headed for a good season of sales activities.

When will we see prices go up again? John Tucillo, one of the countries top economists, says it this way. When inventories are low enough that buyers fear losing the property of their dreams, prices will rise. In other words, when supply is low, demand goes up and so on- it is economics 101- but it is true today and tomorrow. How are we now? Homes have been the strongest sector of our market in the last year. In Sept 2009, there were 481 homes listed for sale on Marco Island. In Sept 2010, there were 430- that is over a 10% decrease in inventory and a positive market indicator. Also there were 27 closed home sales on Marco in Sept (a 42% increase over Sept 2009.) If you divide 430 by 27 you have approx 15 months to absorb the current inventory. We use this absorption rate analysis all the time in looking at trends and time lines. One thing is certain, real estate choices are the best they have been in years and interest rates are the lowest they have been since Fannie Mae started counting. There will never be another Marco Island or Naples and astute buyers are coming back to our market.

MLS Statistics for MIAAOR (Marco Island Only) - Aug 2009

The number of available listings for sale continues to decline, which is a positive indicator. The number of pending homes & condos for August specifically over July and as compared with August 2008 is up significantly.

Call 1-800-423-2962 X 3200 or e-mail info@MarcoRealtySource.com TODAY.
It would be our pleasure to advise you on the best deals and help you accomplish your real estate goals.