What’s New at South Bay

NOW IS THE TIME TO COZY UP WITH YOUR FAVORITE SOUTH BAY REALTY PROFESSIONAL

Having an increasingly difficult time finding that perfect Naples vacation rental for the family? With rental inventory at a premium, you’re not alone. So, what do you do about it? If you’re trending like most serial renters these days, you’re taking a hard look at the incredibly attractive mortgage rates spawned by Fannie Mae and Freddie Mac’s new lending guidelines. Since the guidelines first hit the street last December, more and more first-time home buyers are finding it easier to secure that mortgage that had previously eluded them. 2015 quarter-to-date has already seen many home buyers taking advantage of these lower rates. As we all know, in-season around these parts means opportunity for both sellers and buyers to make hay while the sun shines… literally! With the 10-year Treasury bond market hovering around 2.00 (a mortgage market indicator), even the cash-advantaged home buyers are quick to put 2 + 2 together and hold on to their cash. Current mortgage funds are easier to get and exceedingly affordable. More here…...

The Time for Canadians to ride the Florida tide is now!

As Canadian spring-breakers flock south to keep warm, they should be investment portfolio-mindful of the affordable housing that awaits them. In particular, residential investment in Southwest Florida is continuing its up-and-to-the-right trajectory despite a stronger US dollar. Continue reading >>

Inventory’s status-quo moniker is no barrier to a double digit “up-market” sales increase

Naples, Fla. (March 9, 2015) – Although the 2015 Naples housing market is off to a robust start in both listing and sales transactions (Naples Area Board of REALTORS® (NABOR®)), the continuing concern over a static inventory base remains front and center in the mind of the competitive agent, albeit, only a 5% decline rather than 15% at the start of 2014. Nonetheless and as usual, those same agents found the silver-lining to turn out a double digit hike in up-market closings in 2014. Were you one of them?

So, what does this mean for South Bay agents, its buyers and sellers as we look exceed that in the coming year. That’s easy; another chart-busting season for home sales! With foreclosure sales at a record low, post 08-09 market downturn, and cash sales making up 70% of all Naples transactions this January, continued growth in sales activity is inevitable. In particular, the highly sought after tip of the luxury single family home market ($1 to $2 million) which, based on 2015 pending sales contracts to date, will increase by more than 50% over the same time last year. Conversely, due to an increase in demand leading to a larger segment-lag in inventory, pending condominiums contracts in the same price range have decreased.

No matter which residential market category you’re interested in, whether you’re buying, selling or renting, soliciting the assistance of a neighborhood-savvy South Bay Realty Agent will streamline the transaction process, timing and cost associated with successfully closing. Make the connection now!

Naples Real Estate: Luxury Market Gains Momentum in 2014

Naples, Fla. (January 16, 2015) – Overall closed sales for homes in every price category above $300,000 saw double digit increases in 2014. As a result, broker analysts contend that 2014 was one of the best years in Naples real estate history for closed sales. According to the Annual 2014 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory increased 16 percent for homes in the $2 million and above price category from 394 in 2013 to 457 in 2014. The report also showed that overall closed sales in this luxury market price category increased 33 percent from 299 homes in 2013 to 399 homes in 2014, yet the overall median home price in this price category held steady year over year at $2,950,000. Continue reading >>

December in Naples

To Do in December

12/3 – Mercato Holiday Tree Lighting – 5pm

12/4 – Mercato Nights Music Series Continue reading >>

Naples New Construction Cheat Sheet

Naples new construction is booming, and attempting to meet buyer demand in this tight inventory market. Keeping up with what’s new is a moving target but here’s a quick cheat sheet of what’s out there in various price ranges and home styles.  Call South Bay Realty today if you’d like more information about any one of these communities!  239-594-2226

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November Happenings in Naples

Naples is already bustling with anticipation of the holidays as well as our Northern friends arriving!  Here is a snippet of upcoming events in Naples for November.

11/1 – 11/2 Budweiser Fall Classic Swamp Buggy Races at the Florida Sports Park

11/2 – 4/28 Dogs in the Garden at the Naples Botanical Gardens

11/5 Sowflo reggae and surf-rock vibes at Artis Naples

11/5 The Mercato Wine Walk at Mercato Continue reading >>

Seller Tips: Quick and Easy Bathroom Changes for Under $100

When you decide to sell, it’s really important to take a look at your home with an objective eye. After de-cluttering, the next step is to look for simple and inexpensive ways to brighten it up for upcoming photography and showings. We’re not talking about remodeling, but simply making your home look its best with a few tweaks. Continue reading >>

Tight Inventory – the phrase of the day in Naples real estate

Overall pending and closed sales are down since last August but prices are up about 14 percent. What’s going on? Inventory is very low. “We can’t sell what’s not there” was the consensus among brokers as they analyzed the most recent report released by the Naples Area Board of REALTORS®. Continue reading >>

What is the difference between a Pre-Approval and a Pre-Qualification Letter

If you are just starting your home search, it is a good idea to meet with a lender early in the process so that you know exactly what price range you should be searching in, especially in a market where inventory is tight. This allows you, as the buyer, to be laser focused in your search, and poises you to be able to make an offer quickly with pre-approval letter in hand which will give you a better competitive edge against other buyers who may be paying cash.

Many buyers may not know that there is a difference between a pre-approval letter and a pre-qualification letter, but they are very different.

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