08/07/2014
TROPICS REAL ESTATE, August 2014 issue
NAPLES AREA REAL ESTATE NEWS:
Well summer is in full swing and so now begins our new NAPLES REAL ESTATE NEWS which also incorporates Marco Island, Bonita Springs and Estero. Incidentally let it be noted that the weather has been beautiful this week, though there have been sporadic thundershowers. And even though we are "out of season," the foot traffic on Fifth Avenue South (where our office is located) has remained surprisingly strong, particularly as evening descends and on weekends. In fact, because we have met so many great folks on the Avenue we are actually opening a second office on the south side, about a block or two eastward from our current office at 539 5th Avenue South. More on that in a month or two ...
So what has been selling? We are still doing quite a bit of new construction, especially in the bundled golf TPC community of Treviso Bay. Although the condos there are up about $50,000 from Christmas (yeah, I know), they are still a good buy. The same floor plans topped out in similar communities back in 2005 in and around the $400s, so there is still opportunity. Speaking of "bundled golf" (where golf equity is included), there are still some great buys in Cypress Woods, Cedar Hammock, Forest Glen, Naples Lakes, and Naples Heritage. Condos there can still be purchased in the 140s to the low 200s, some "turnkey" (with furniture and things like dishware and silverware, linens, etc.)
These developments were built from 1999 to 2006 and at least in the case of Cedar Hammock, Forest Glen, Naples Heritage and the newer Heritage Bay are the same basic floor plans that you will find in Treviso, albeit newer, hipper versions of a tried and true formula. Not that Cedar Hammock or Forest Glen or Naples Heritage or Heritage Bay or Naples Lakes are anything to sneeze at. There are also coach homes, verandas, garden homes, carriage homes and houses in all these communities -- and you are only 4 to 7 miles from downtown (with the exception of Heritage Bay on Immokalee) depending on which you choose.
As neighborhoods such as Lely and VeronaWalk wrap up their great new construction (but with some equally GREAT resales), a whole bunch of new places are suddenly coming out of the ground and/or are doing pre-sales: Canopy, Winding Cypress, Esplanade (two of them -- one in North Naples with bundled golf and one in East Naples with no golf and a single family home focus), Bent Creek Preserve, Bonita National (Bonita Springs), The Isles of Collier Preserve, Mangrove Bay and more ...
One of our favorites in the Olde Naples area is Naples Square which is a condo development. We already have a buyer up about $60,000 on grabbing a unit a few months ago (then at $595,000 for about 1500 square feet) that won't even close till after next season! Imagine the appreciation on that one -- and it is just a great place to plant yourself to enjoy the Olde Naples area. Ask us for more information on these new communities ...
Olde Naples, incidentally, has shot through the roof in the past year and still the demand is there. Single family lots have jumped to over a million in most cases from a low (about two years or so ago) in the $450s. Same with Royal Harbor, Oyster Bay and Golden Shores (on the water with gulf access). Yet demand continues to be strong. There are a few condos left under a million in Olde Naples -- as low as the 200s, but again not for long. And our other coastal neighborhoods of Port Royal, Aqualane Shores, Coquina Sands, The Moorings, Park Shore, Seagate (with Naples Cay), Pelican Bay, Vanderbilt Beach, and onward toward Bonita Springs are also moving right along.
As for beachfront condos, Marco Island is lagging a bit in terms of appreciation (though it is getting ready to shoot through the roof) compared to the last go 'round where Marco took the lead over Naples. What this means for you is that if your heart is set on a gulf-front view, we've seen and sold some doozies in the 600s and 700s that if they were in Naples would be older and closer to a million; so again sooner, is better than later ... :)
NAPLES IN THE NEWS.
The following article that just came out in Forbes may surprise you naming Naples as one of the best cities for job growth. If it doesn't show up as a link, cut and paste it into your browser:
http://www.naplesnews.com/business/naples-austin-head-list-of-best-cities-for-job-growth
Here is the entire Forbes article:
http://www.forbes.com/sites/kurtbadenhausen/2014/07/23/naples-austin-head-list-of-best-cities-for-job-growth/
This article from Naples News talks about how the rental market has stalled as higher prices for rentals and appreciation in homes is encouraging former renters to jump into the market as homeowners
http://www.naplesnews.com/business/collier-lee-rental-market-stalls-as-more-tenants-look-to-buy_34740597
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Again if you have any specific questions please don't hesitate to ask. We could go on and on with this newsletter. Our next update will include information on foreclosures and short sales.
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Hope to see or hear from you soon! And be sure to write us at the email addresses below with any questions or call (239) 261-0153 or (239) 821-9046.
Marlene Graham
Tropics Real Estate
539 5th Avenue South
Naples, FL 34102
www.NaplesHomeFinders.com
www.NaplesTouristCenter.com
http://www.NaplesRealEstateReport.com
(239) 821-9046
(239) 261-0153
THE NAPLES TROPICS TEAM:
Marlene Graham [email protected] 239-821-9046
Courtney Smith [email protected] 239-580-8156
Paul Smith [email protected] 239-777-7666
Marcy Blais [email protected] 239-776-2495
Trip McNamara [email protected] 231-838-9200
Curt Marsden [email protected] 970-379-2017
Robin Bennett [email protected] 239-734-0373
Petrucia Sierakowski [email protected] 239-321-1091
Ray Pena [email protected] 239-227-8190
Dan Weber [email protected] 815-341-9523
Florida’s economy experienced a tremendous surge during the first half of the 2000s when home prices jumped 120% between 2000 and 2006.
