WHAT’S TRENDING IN NAPLES REAL ESTATE
The Naples Area Board of REALTORS® held its fourth annual Economic Summit in early April to discuss factors influencing the future of real estate. Cindy Carroll, John Tuccillo and Dr. Elliott Eisenberg shared their viewpoints.
Real estate appraiser Cindy Carroll Naples reported home prices are going up and stabilizing nearly across the board and in certain cases have surpassed peak 2005 levels.
“Neighborhoods broken down by zip codes seem to make a lot more sense than when it’s broken down by price range,” she said. “It’s about location, not price range, it’s how close you are to the beach, which drives your value.” (Go to my website Cherylturner.com and sign up to receive your report by zip code.)
Dr. John Tuccillo, chief economist for Florida Realtors® introduced new key indicators affecting real estate in Florida including natural and in-migration population growth, employment growth and a healthy stock market, which is helping fuel second-home purchases, especially retirees. “There is a very close correlation, between million-dollar-plus home sales in Florida and the Dow so it’s kind of an indicator on where home sales are going.” Read more>>>
Zillow.com has named Nelsons Walk in Port Royal the 12th richest street in the United States.
Nelsons Walk is a quiet byway in Naples, but the 26 homeowners there are actually living on Easy Street.
That’s because Nelsons, with a median home value of $10.5 million, is No. 12 on Zillow.com’s list of the country’s wealthiest streets.
No. 1 on the list is Indian Creek Island Road on Indian Creek Island in Biscayne Bay. The median home value there is $21.5 million and residents include Denzel Washington and Eddie Murphy.
Nelsons Walk has its share of celebrities too: Residents include best-selling mystery author Janet Evanovich and pest control king Truly Nolen, chairman and president of Truly Nolen Inc.
The street gets a boost right off the bat by being part of Port Royal, the most expensive community in Naples.
Cheryl Turner, a real estate agent with Premier Properties Sotheby’s International Realty in Naples, said Nelsons is “a wonderful street, fabulous,” but that its Port Royal location likely was responsible for pushing it on the national list.
“You’ve got wider water views, no bridges, the Gulf, the most exclusive neighborhood in town,” she said. “The prices are just continuing to go up.”
People are often shocked at how expensive a house in Port Royal can be, Turner said. “I had a client call on a house and the asking price was $23 million — he had thought maybe $11 million.”
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What’s trending in Naples Real Estate
Sales are up and so are prices.
A recent article in the Business Observer, a newspaper that covers the Florida Gulf Coast from Tampa to Naples, reported that both sales and prices of existing single-family homes and condominiums are seeing gains as high as 15% statewide. President of Florida Realtors®, Andrew Barbar, commented that the positive fundamentals of Florida’s housing sector were sustained in the fourth quarter of 2014. “Our population continues to increase at a rate of approximately 800 people per day moving into the state. Florida’s growing economy is creating new jobs and putting residents back to work.”
The greater Tampa metro area was a hot market to purchase condominiums with sales jumping nearly 18%; Collier county saw a 14% increase in the number of condominium sales and a 10% rise in median prices.
Florida Realtors® reported that those who are currently renting a condominium in Southwest Florida may soon have a more difficult time, as owners are putting their properties back on the market now that prices are increasing. With financing more readily available, down payments as little as 3.5 percent, and some restrictions on condo loans easing, qualifying for a mortgage and owning a home is becoming more appealing. Contact me for the latest real estate market news. Click here for the full newsletter.
Read more about the Sotheby’s International Realty brand and how their exceptional marketing helps bring together extraordinary lives with extraordinary homes.
What’s trending in Naples Real Estate
Welcome winter. It’s that time of year when our heavenly-like weather helps drive more visitors here making it our busiest time of year. Winter 2015 is taking shape as a hot market with foreign buyers, new construction and there is more inventory from which buyers can choose.
The Sotheby’s International Realty network currently has over 16,400 sales associates located in approximately 730 offices in 56 countries and territories worldwide and is expanding into India in March. Premier Sotheby’s is the No. 1 independently owned brokerage in Sotheby’s International Realty’s worldwide network of 700 offices, 42 of them corporately owned and operated. In 2014, our firm served 314 buyers from Canada, 49 from Germany, 53 from Brazil and 35 from the Czech Republic.
The Naples Area Board of Realtors® January report showed…Read my full newsletter.
This fabulous home was just reduced to #3,150,000. Contact me to see this beautiful estate home with over 5,000 square feet under air and an outdoor living area made for fun in the sun!
This gorgeous home just closed in Aqualane Shores…
Naples ranked 5th in U.S. News Rankings and Reviews most relaxing beaches. It was the highest ranked U.S. mainland location, and only a few Hawaii and Caribbean beaches were ranked higher. That is a tremendous statement for the quality of our area beaches. More….