Naples Bonita Springs Estero Florida

From Pulte/DiVosta homes come eight new floor plans in the ever popular communites of Naples and Bonita Springs. Home sites range from 40 feet to 65 feet these all new singel family detached homes range from 1,392 square feet to 2,611 square feet with 3 bedrooms +Den, 3.5 baths and oversized garages.

Verona Walk

Village Walk of Bonita Springs

BobPisa.com

RISING SALES, DECLINING INVENTORY
Naples Area Real Estate Transactions Released

So reads the headlines from the January 15, 2010 press release from the Naples Area Board of Realtors (NABOR) reporting in the December 2009 results. NABOR reports home sales in all of Collier County excluding Marco Island.

The press release reiterates that the favorable market conditions boost sales and continue to decrease inventory. NABOR's Media Relations Director is quoted to say that the inventory decreased nine pecent on the under $300,000 segment and as much as 25 percent in the $300,000 to $500,000 range.

Other points in the press release are:

• Overall condo pending sales increased 69 percent with 4,243 contracts in 2009, compared to 2,505 contracts in 2008.
• The days a property was on the market in 2009 decreased 11 percent to 160 days on the market, compared to 179 days in 2008.
• The overall median closed price decreased 35 percent to $178,000 in 2009 from $274,000 in 2008.
• Excluding the $300,000 and under segment, comprising a majority of foreclosure related property sales, the overall median price for the market declined only 7 percent from $565,000 in 2008 to $525,000 in 2009. The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold.
• The fourth quarter of 2009 showed overall pending sales increasing 92 percent with 2,455 contracts, compared to 1,276 contracts in the same quarter of 2008.
• Sales steadily move to higher priced ranges for both single-family pending and closed sales increased in all price ranges below two million.
• Single-family home sales in the $300,000 to $500,000 price range increased 43 percent with 163 sales in the fourth quarter of 2009 compared to 114 sales in the fourth quarter of 2008.
• Single-family pending sales in the $500,000 to $1 million price range increased 63 percent in the fourth quarter with 114 contracts compared to 70 contracts in the fourth quarter of 2008.
• December 2009 proved to be a strong month in pending and closed sales as market conditions improved and buyers' optimism grew.
• There are double digit increases in all geographic areas in overall pending and closed sales

Visit BobPisa.com for more market data and 2009 year-end review

Now open at Mercato, Stage 62 Deli and Restaurant will occupy nearly 3,000 square-feet with indoor and outdoor seating for up to 140 people on main street.

Stage 62 takes its queue from the original Stage Deli, an upscale Jewish deli and restaurant, founded in 1962 in Oak Park, Michigan.

Open daily: 9:00 am to 9:00 pm. Call 239-597-2800.

Don't forget music and entertainment the first Friday in February from 6 - 10PM.

Be sure to check out The Strada at Mercato Center

The Ace Group Classic is getting set to tee off in Naples, FL at The Quarry located a few miles east of I-75 on Immokalee Road. Set to play are Fred Funk, Paul Asinger, and Bernhard Langer.

There is also an amatuer-only challenge on Monday February 8th that you can enter alone or as a foursome, only 100 spots available and it includes breakfast, lunch, and the awards ceremony. The Grand Prize, four awarded, an official playing position in the Loren Roberts Invitation to Pro-Am Gala at the Ritz-Carlton.

Be sure to check out The Quarry

The graph below plots the number of properties (single-family and condominiums) sold in the Naples market and in the Bonita Springs - Estero market. It's plain to see the seasonality in these areas, and it's also plain to see some trends.

Data from Sunshine MLS, Naples Area Board of Realtors

The solid colored lines represent the actual monthly data for Naples and Bonita/Estero. The dashed-dotted line is a 12-month running average and the dashed-only line is polynomial fit to the data.

The West Bay Club in Estero, FL has released twenty units for sale in the newest Jasmine Bay Tower - Jasmine Bay South. The units released range from $350,000 to $665,000.

As for the north tower, the closeout pricing has been a big success and there are now only a handful of units remaining.

Resales? That too...

West Bay Club at www.BobPisa.com

BUYERS MOVE TO HIGHER PRICED CATEGORY
Report Shows Inventory Declines 14 Percent

So reads the headline from the press release today from NABOR - Naples Area Board of Realtors. Stated in the release is that Naples is following a "traditional market recovery." It starts with the inventory at the low end of the scale and as that inventory is "picked through" buyers start to move up the scale in terms of price point.

Inventory declines 14%!
What can be more important than this? This is, perhaps, the primary reason that we are seeing a move up the scale. The inventory at the low-end is reducing first and 14% is not exactly a small number especially when you consider that there have been several consecutive months of inventory decline.

Pending Sales increased 230%!
In the $300,000 to $500,000 category this increase is most significant for all contracts. In the price category, single-family homes were up 200% while the condo market was up 282%. The increases represent year-over-year changes.

Other key points cited in the release:

Overall pending sales increased 118 percent with 880 contracts in November 2009 compared to 403 contracts in November 2008. Overall pending sales under $300,000 increased 108 percent with 593 contracts in November 2009 compared to 285 contracts in November 2008.

Single-family home pending sales increased 83 percent with 449 contracts in November 2009 compared to 245 contracts in November 2008.

Overall condo sales increased 136 percent with 248 sales in November 2009 compared to 105 in November 2008.

The overall median closed price decreased 11 percent to $173,000 in November 2009 from $195,000 in November 2008.

For the 12 months ending November 2009, the overall median closed price decreased 37 percent to $179,000 from $285,000 for the 12 months ending November 2008. Excluding the $300,000 and under segment, comprising a majority of foreclosure related property sales, the overall median price for the market dropped by only 7 percent in a comparison of the 12 months ending November 2008 and the 12 months ending November 2009.

The bottom is (has been) here, the recovery is well under way. Prices will hold steady, especially at the low end, more price pressure in the higher-end to come but not much I don't think. Inventory will continue to decline and then prices will utlimately ...

The complete detailed report is available. Just contact me at my website.

It was reported this week that Bonita Bay Group (BBG) and the residents of Bonita Bay (BB) have reached a tentative agreement whereby members of the Bonita Bay Club will purchase the golf club for $12 million. The deal must be approved by at least 85% of the current members of BB and BBG's management and lenders.

Part of the agreement calls for Bonita Bay Group to pay the new club a sum of $500,000 for the right to market tee times for three years at the Bonita East courses on Immokalee Road.

What's in the package: five 18-hole championship golf courses (three in the community and two outside), two clubhouses, three practice ranges, eighteen tennis courts, a swimming and a fitness center.

The marina at Bonita Bay is not included in this deal.

www.robertpisa.com

Following the purchase of the Quail West assets in March 31, 2009 by QW 2009 LLC, we now have an announcement last week where the members voted to take over, by means of transfer to the member-run Quail West Foundation, more than $20 million dollars worth of club assets. This move was overwhelmingly supported by the members with 97 percent of the membership voting in favor.

Quail West is a gated luxury golf and country club community in north Naples developed on nearly 1,200 acres.

Available are new villa homes from under $1 million to custom built luxury estate homes by the premiere builders in the Naples area.

Review Quail West properties for sale.

These data are from the CENSUS BUREAU, AMERICAN COMMUNITY SURVEY

... recently reported in The News-Press

Visit BobPisa.com