For those of you tracking Gustav you may have noticed the latest predicted path has been adjusted more so to the west leaving Naples, Florida out of the cone of uncertainty for now.

"I did a short radio interview yesterday and had to check some foreclosure statistics, since that is a hot topic in the media right now. In case you are asked, here is the summary in the Naples/Bonita/Estero area:

* Thru July of this year, there have been 3,754 closings in Sunshine, in the specified areas. (a few more than our previous stats since some closings have now been added to the system.

* Only 163 of these were foreclosures, which is a very small number as compared to what media reports would lead one to believe. (4.3%)

* 45% of the foreclosures were in Golden Gate City and Golden Gate Estates, so there are only 90 closed foreclosure sales in ALL other areas.

* 84% of the 163 foreclosures sold at $300,000 or less, so it is primarily confined to the lower price ranges.

Obviously, there are parts of Lee County where the problem is much more severe, specifically Lehigh Acres and Cape Coral. These two areas have thousands of lots and/or homes, have traditionally been very reasonably priced, and many owners have now lost their jobs. There were also many investors that bought in those neighborhoods during the irrational period of 2004-2005, and have now simply walked away from their investment.

So overall, it is not a big issue in the Naples, Bonita, or Estero".

Phil Wood

EDIT WAS SENT THURSDAY AUGUST 28TH:  Just to clarify, those were closed Sunshine MLS sales ONLY.  Obviously, there are additional foreclosures in the area that do not go thru MLS.  And we know there are tons of potential shorts sales that may also be potential foreclosures, although the banks are now standing on their heads to try and avoid taking back properties.

Additional notes regarding the Naples, Bonita & Estero real estate market:

• An increase in the number of pended units above $2 million for three consecutive months

 

• Major percentage increases over same month, prior year, in total number of pended sales for 5 of the 7 months of 2008.

 

• A “healthy” decrease in median sales price.  While this may not seem like a positive, it is indicative that lower priced inventory is moving, which should ultimately result in a more balanced supply overall. 

 

• Decreased total inventory when compared with July 2007.

 

Average list price to sales price ratio through July is approximately 90%.  This indicates that sellers are more knowledgeable about the current market, and are negotiating to current prices, rather than sticking to asking prices that reflect 2005 pricing.

We continue to see this as a great time to buy!

Dottie Babcock, CCIM, CRB

Chief Operating Officer

John R. Wood Realtors

Aqualane Shores Naples Florida is located at the southern end of Naples proper strategically between the areas of Port Royal and Old Naples.  Aqualane Shores was one of the first areas to be developed and launched the first dredging and fill operation starting in 1949, the same year Naples became an official city.  Some of the most fabulous Naples waterfront homes and estates located on deep water canals leading to Naples Bay can be found in Aqualane Shores. 

Because Aqualane is located within a short distance from the fabulous Naples Florida sugary sand beaches, the Naples Pier, Third Street shopping district and the world renowned Fifth Avenue, prices have always remained somewhat out of reach for the masses.  There was a time not too long ago that you couldn't even tip toe into the neighborhood without at least 2 million in your pocket and at those prices you didn't expect more than a glorified tear down.

Here's a recap of the Aqualane Shores average sold price trends over the past 4 years:

Although there are certain economic factors that will aid in the protection of a real estate collapse in Aqualane Shores, I have noticed prices coming down slightly.  Let's take a look at the Aqualane Shores market as a whole.

Here's an Aqualane Shores Market Snapshot:

• Active Listings:       26     $1,695,000 to $6,895,000
• Pending Listings:    0        Eaaak!
• Closed Sales 2008  27      $1,500,000 to $7,200,000

How good or bad is it?  Well, I must admit...it's been quite awhile since I've seen any interest in the area.  Although I saw some good interest earlier this year.  This absence of activity is no reason to panic.  Aqualane Shores is more of a high season neighborhood.  In fact, over the last two years only 2 properties in Aqualane went under contract in June, 0 in July, 1 in August and 0 in September.  So the fact there are no pending properties in Aqualane right now actually makes sense!

What does that mean for you? 

If you're considering the possibility of making a purchase in Aqualane,it would seem to me that maybe now is your best chance for good negotiating.  It's almost always easier to negotiate when nobody is banging the door down to buy than when the slew of season traffic (or hopes for a busy season) starts buzzing around.  I've heard many sellers comment about the fact that they don't know when the next buyer's coming so maybe they should put their best foot forward now.  Keep in mind this is only if you start negotiations with a serious offer.  Unless someone has given you "super secret" information, coming in with an offer at half the list price or a number equally insulting is probably only going to waste your time.

If you're thinking about selling your property in Aqualane price it right.  If I were you, I probably wouldn't put it on the market until later this year because chances are the listing is going to do nothing but collect some dust between now and October.  Not that your property can't sell between now and then...if you can wait...then fine. If you're in a hurry, let's hop on it but be prepared to be aggressive after the few who are thinking Aqualane Shores right now! 

For more information regarding the Aqualane Shores area or any other Naples Florida real estate questions, feel free to give me a shout.  I'm happy to assist!

Best Regards,

Your Naples Smart Girl!

Port Royal Naples, Florida is known as the most exclusive neighborhood in all of Naples.  Situated south of Olde Naples and Aqualane Shores, you’ll find some of the most exquisite estates in Southwest Florida.

 

 

So how does the best of the best fare during a tough market?  Although some people would like to believe Port Royal is “recession proof”, I couldn’t be so bold to agree.  In fact, some great news about Port Royal is the fact that some prices have come down and some Port Royal home owners have in fact negotiated a tad bit more than maybe they would’ve back in 2005-2006.

 

Here’s a brief synopsis of the current Port Royal Naples, Florida real estate market:

 

Active Listings:  44

List Prices:  $2,995,000 - $25,900,000

 

Pending:  3

List Prices:  $3,800,000 - $10,750,000

 

Closed (2008) 17

List Prices:  $2,800,000 - $10,750,000

 

Here’s some Port Royal statistical information over the last 4 years:

 

 

 

 

 

The source of this real property information is the copyrighted and proprietary database compilation of SunshineMLS, LLC.

Copyright 2002-2008 SunshineMLS, LLC. All rights reserved. The accuracy of this information including, but not limited to,

any information about the size or area of lots, structures, or living space, such as room dimensions, square footage calculations,

or acreage, is not warranted or guaranteed. This information should be independently verified if any person

intends to engage in a transaction based upon it.

 

 

 

If you’re thinking about purchasing in Port Royal you should know there is quite a bit for you to see but unfortunately, not all of them are offered through the IDX system.  As a matter of fact.  There are 44 Port Royal listings and only 27 of them are offered through IDX.  

 

What does that mean specifically?  When Port Royal home owners list their properties, many of them either don’t know their agent will not offer IDX availability or don’t want them to offer IDX availability which is the opportunity for other real estate agents and companies the ability to cooperatively market their listings.  This of course limits exposure and the possibility for Port Royal buyers to see everything available without contacting a real estate agent direct.  It used to be a tool some agents would use in an attempt to keep a corner on the market although that concept is quickly proving unsuccessful especially since over 80% of all buyers are beginning their search on the net.  You can’t buy what you don’t know is for sale...right?

 

You are welcome to view the 27 listings currently offered through IDX and if you would like a list of the properties not offered through IDX, I am happy to email you the full list of properties available in Port Royal.

 

See the 27 listing currently available in Port Royal

Get the full list of Port Royal homes for sale

 

 

Another special note:  Just because you purchase property in Port Royal does not necessarily mean you will have rights to the Port Royal Club.  If this is important to you, you’ll want to make sure the property you are purchasing has Port Royal Club membership availability. 

 

 

If you’re thinking about selling your Port Royal property you want to make sure your listing is getting the most exposure possible.  77% of the properties I sold this year were negotiated before the buyer ever physically saw the home or condo they were purchasing.  This was accomplished in large part due to a majority of the identification of the property occurring online with the assistance of my Naples Florida real estate website and my ability to send pictures, video and additional information which made it easy for my clients to write acceptable offers.  Open houses are still important as is the quality of the agent/company network but these proven ways of selling Port Royal are quickly taking a back seat to the power of the Internet.  

 

For more information regarding Port Royal, please contact me direct!

 

Best Regards,

 

Shannon Lefevre, P.A.

Your Naples Smart Girl!

I just loaded my latest video of Salerno at Bay Colony this evening on my website.  I took a few shots of the amenities including the lobby, fitness center, social room, billiards room and pool area so those who haven't had a chance to physically see the building could get a better idea of what Salerno at Bay Colony has to offer. 

 

For more questions regarding Salerno at Bay Colony, feel free to contact me direct!

Best Regards,

Your Naples Smart Girl!