During August, the Marco Island real estate market saw rising sales for both condominiums and single-family homes.
Compared to last year, Marco Island saw an increase in pending sales by 27.6 percent and increase of 23.7 percent for closed sales.
Now is the time to get in the Marco Island real estate market and purchase your dream home!
Pending real estate sales in Naples saw an overall increase of 87% in August. During August 2009, Naples had 862 properties under contract, compared to August 2008 when only 461 properties were under contract.
In the middle of September, 56 percent of real estate under contract were single-family homes and 44 percent were condos and villas.
The direction of the market is definitely changing locally as well as nationwide. Don’t miss your opportunity to own a piece of beautiful Naples real estate!
Open Houses. Every Sunday you will see hundreds of homes from Olde Naples, Park Shore, and Pelican Bay to Grey Oaks, Olde Cypress, and Quail West, having open houses in hopes of selling these properties. There are two main reasons for having them: sellers insisting that their realtor hold them because they believe it gives them the best opportunity for a sale and, realtors having them in order to find potential buyers for any property, not necessarily the one they are showing. The truth of the matter is that only 2% of homes sold are done through open houses. Most of the people attending these events are either nosy neighbors or someone who uses the time as a type of entertainment. The much more modern way to attract buyers for your home is through an active internet presence, where roughly 75% of homebuyers go for their initial search, and dedicated professionals like Chris and Dick can provide that service.
It’s not all doom and gloom for the housing market in Southwest Florida. At least according to one prominent economist. Henry Fishkind, of Fishkind & Associates, informed his audience at the Southwest Florida Economic Outlook Conference last month that he believes that the market has hit its bottom. One reason for this optimism is the general good health of other sectors of the economy in the area. He did add however, that the slump will not have an immediate end because of the vast inventory of homes presently listed for sale.
On October 1, 2007 the last commercial flight offered by Delta Airlines left Naples Municipal Airport. However this does not mean that Naples will be left stranded. A new airline has stepped up to fill the void. A family- owned airlines, Vintage, will be starting service sometime before the first of the year. While everything has not been completely worked out, the plan is for Vintage to offer nine weekly roundtrips from Naples to Tampa, Tallahassee, and the Florida Keys. Vintage has been operating successfully on Florida’s east coast for 16 years.
Sending spam could soon become a third-degree felony in Florida punishable by up to five years in jail. The Florida Legislature passed SB 80 and it needs only Gov. Jeb Bush’s signature to become law, effective July 1, 2006. Punishments for spammers will be based on the volume of e-mails sent within time periods; the revenue generated from the messages; and whether or not the sender knowingly has a minor assisting in the transmission. The bill also requires certain governmental entities to post a notice on their Web site stating that e-mail addresses sent to them could be released to the public. Lastly, the bill creates the “Anti- Phishing Act,” which prohibits the use of a fake e-mail address or Web site as a way to entice readers to reveal personal information.
Â
For a change, there has been job growth in the high-tech industry, and the state of Florida is one of the leaders. With a net increase of 6,700 new jobs, the Sunshine State was the second fastest-growing state in the country, trailing only Virginia. This is more good news for the real estate market, as traditionally job growth leads to increased home sales
While we have definately experienced a slowdown in the number of home sales, according to a recent Gallup poll more than half of Americans still believe it is a good time to purchase a home. We believe this is particularly true in Southwest Florida, as many home sellers have reduced their asking price to better reflect today’s competitive market conditions. The time for wait-and-see is gone. And because of this strong buyer’s market and ample inventory there are some excellent purchases available. This is true for Olde Naples, Pelican Bay, The Strand, Windstar, Bonita Bay, Park Shore, Pelican Marsh, or any other community in the area. It also applies to condos, villas or single family homes. Working with professional Realtors, such as Chris and Dick, makes finding the right buy much easier
According to the Florida Association of Realtors records, for the month of March, 2006, the statewide median home price in Florida rose 17 percent to $248,200; a year ago, it was $212,600. In March 2001, the statewide median sales price was $121,600, which is an increase of about 104 percent over the five-year-period. The median is a typical market price where half the homes sold for more, half for less. Demand continues to impact housing prices across Florida, as the state’s warm weather, scenic attractions and favorable business climate attract new residents.
The rapid rise in home prices is not just confined to Southwest Florida real estate and such areas as Olde Naples, Park Shore, Grey Oaks, Barefoot Beach, The Brooks, Pelican Bay, Bonita Bay, Port Royal, or Marco Island. It is happening all over the country. In a report issued by the National Association of Realtors, it was stated that the number of homes sold for $500,000 or more in 2005 leaped to more than 827,000. This represents a 29% increase from the previous year, when there were 641,200 such units sold. There were only 66,100 such homes sold in 1966.