Naples Bonita Springs Estero Florida

Paseo is another Stock development community in Fort Myers just off Daniels Parkway. This location is a short drive to the airport, beaches, shopping, shopping (did I mention shopping), boating, and golf!

While this photo is of Ole in Lely in Naples, the product, environment, and amenities are just the same in Paseo. From this link you can read more and view the resales available in Paseo. In addition to the resale condomium properties picture above, Paseo offers tradition single-family residences from about 1,600 square feet to more than 3,000 square in several different signature level homes.

As a relatively new community Paseo New Construcion (single-family home and The Villages condominiums) may be just what you are looking for.

www.BobPisa.com

www.RobertPisa.com

At least that is according to NABOR - Naples Area Board of Realtors - in a press release dated July 15, 2008. "Sales up, Inventory Down..." so the headline goes.

I have to say, since this is one of the key markets that I work in this great news!

Pending sales are increasing. You can see the trend charts on my web site www.BobPisa.com, just scroll down a little. Pending sales trends are a leading market indicator as these newly written contract turn into sales in 30 - 60 days usually.

Properties that are priced right, i.e priced at the current market, are selling.

What's HOT!

Single family homes under $300,000 continues to be the hot segment. Pending sales for June year-over-year are up more than 200% at 863 units versus 400 in 2007. Sold units are up 76% YOY at 627 units versus 355 in 2007. The median sold price is down some 17% and that's what is driving all the activity. The inventory is still strong with virtually no change and all this adds up to...it's a good, no great, time to buy properties that are priced right. They are out there.

Not surprisingly, the hot market for condos is also the under $300,000 category with an increase of 19% in pending sales, an increase of 23% in closed sales, and a 9% decrease in the median sold price.

Where is it HOT! - North Naples for single-family and North Naples and Naples Beach for condos.

You can download the complete report here.

Happy hunting...www.BobPisa.com

That's residences from the $700,000 to over $7MM.

I spent a couple of hours today touring just some of the model homes and, well, they are just gorgeous. Taylor-Morrison is building luxury coach homes and they looked just wonderful, at least from the outside. There wasn't a model open when I stopped by. There are also villa homes that I didn't get to see on this trip.

The first single-family home that I stepped into was built by Landmark Development group and has nearly 6,000 square feet under air and 7,500 total square feet with a killer outdoor kitchen and swimming pool with two water falls and a fountain. Fully furnished, this home is in the neighborhood of $5MM.

The next home is a beautiful model from Bordeaux Homes fully furnished and offered at $2.5MM with an optional one year lease back that's worth about $200,000 to the buyer. This home is just a tad over 4,000 square feet of air conditioned space. And yes, another killer pool package.

The final home I toured was from Harborside Custom Homes with nearly 3,800 square feet under air. The base home is about $1.4MM plus lot and pool package.

So much for the homes, Mediterra is also home to two 18-hole Tom Fazio golf courses and each course is limited to only 275 members.

Lastly, Mediterra has it's own private beach club on the Gulf of Mexico which is just a short drive away.

One more thing, as I was touring the available home sites much of them nicely wooded I did stop to appreciate a doe with two of her fawns. We all stopped and looked at each other for some time.

What a great afternoon in the real estate business!

www.BobPisa.com

Mediterra - listings and more information.

I just LOVE trend lines that look like these!

Just about the 1st of every month I pull some some market statistics for the towns in the areas I serve as a Realtor - Naples Bonita Springs Estero. Naples is reported standalone and Bonita Springs / Estero data are combined due to their size, volume, proximity and other similarities. All the trend data charts are available in downloadable PDF files on my web site - www.BobPisa.com along with a short summary on the web site.

Direct links to the pages are: Naples - Bonita Springs - Estero

Lastly, here's a new graphic so you'll easily remember my name!

Bob Pisa
www.BobPisa.com
239 898-6865

In previous posts and in my Market Watch Reports (which can be found on my web site www.BobPisa.com on this page for Naples - other areas in the Community Information Section under the Communities Menu) have indicated the the market is turning. The title for this post uses the word "improving".

The market "turning" or "improving" are signs of change for the positive. This doesn't mean at all that the markets have returned to "normal" and we certainly will not see the return to the "crazy days" for the real estate market for some time if ever.

Moving a market like real estate is like turning an oil tanker at sea, it happens all so slowly. Nevertheless, there is a clear change in direction and in the case of the real estate market it is positive. This is very important for people considering the purchase of real estate in that it signals near or at the bottom for pricing.

There are still homes on the market not priced right, they have not adjusted to the current market and they will languish a bit longer. Other properties have adjusted, low-ball offers are not as frequent, and these properties are selling. Properties priced at the market will hold this pricing for a while as the still high inventory sells off. Toll Brothers CEO on the Jim Cramer show reported recently that southwest Florida has already turned for them as virtually all their new inventory is gone. I have visited two Centex Homes communites (The Plantation in Fort Myers and The Quarry in Naples) and all new product is to be built as is the case in another Bonita Bay Community I visited - Twin Eagles also in Naples.

Like I said, these are all good signs...welcome back!

www.BobPisa.com

NABOR, the Naples Area Board of Realtors, has just released the year-over-year YOY data for 16 of the key zip codes in Naples. NABOR consistently reports the same zip codes.

OVERALL MARKET STATISTICS

What's selling - April-April YOY change from same period last year:
Pending Sales:
Overall UP 24.7%, but in the price range:
<= $300K: UP 89.7%,
$300K - $500K: UP 18.2%, all other price groups are down YOY but only slightly
Closed Sales:
Overall UP 6%%, but in the price range:
<= $300K: UP 61.9%, all other price groups are down YOY but only slightly also

Areas with growth in Pending and Closed sales:
Naples Beach, North Naples

The complete report is available on my Naples FL Page on my web site.

www.BobPisa.com

edited 5/24/2008 to clarilfy and report April-April YOY results not 12-month ending.

The title says it all!

By far and away the overwhelming majority of calls I get these days from prospective buyers comes down to Short Sales Bargains Deals and Steals. Almost every conversation starts out with something like - "I'm looking for a good deal." That makes perfect sense, who isn't?

Sometimes the conversation starts out with "I'm looking to steal something." I'm not really sure what to make of that. But, the steals are what professional real estate investors do. And how they do it is by buying distressed property (financially and physically) well below market value. The emphasis is on distressed, in this case, and it is really on the physical aspects and the property's location. These professionals first determine what the market value of the property would be if rehabilitated, compute the cost for the rehabilitation and deduct it from the market value, and then determine what they will pay with a little bit of profit added in.

Distressed properties seldom represent the properties that consumers from "up north" are looking for in their second winter home or, perhaps, their retirement home. Also, they usually don't represent the properties that local families are looking for either but there are always exceptions for the do-it-yourself fixer-upper types. I find that people tend to go astray when they buy something because is was a "good deal" rather than buying what they really wanted. When doing this, it usually leads to buyer's remorse and another sale/purchase down the road. And, if it was a good deal in the first place, the economic advantage is usually eaten up with the extra transaction and costs associated with the move.

Then there are the short sales discussions. I have had these discussions so many times that I wrote a short sale primer and Short Sales Bargains Deals and Steals, Are They? pages and put them on my web site.

I hope you find these useful.

www.BobPisa.com

Palmira Golf & Country Club is a gorgeous development in Bonita Springs Florida just north of Naples.

Front entrance road with tower fountain

Lagoon-style pool, there is also a lap pool & seven tennis courts.

Paloma Coach home neighborhood in Palmira.

Just some of the beautiful landscaping.

Visit my web site to read more about Palmira, The Renaissance Center, and the Country Club and view all the current homes and condo for sale listing.

www.BobPisa.com

New, pre-construction.

Click the image for more information.

www.BobPisa.com

The finest in country club living on nearly 1400 acres in Naples, FL. Home to two 18-hole championship golf courses with unique membership plans. Members at various levels pay a one-time intitation fee and a very competitive dues structure. These are non-equity memberships and members will never be assessed for upgardes and maintenance.

The Vineyards boasts a 65,000 square foot clubhouse and there are no food and beverage minimums. In fact, homeowners are not required to become members at all. Two years running, the Vineyards has received The People's Choice award.

Check out The Vineyards and all the current listings. The Vineyards is 90% built out so new contruction is still available.

www.BobPisa.com