2Q existing-home sales rise in most states, says NAR

ORLANDO, Fla. – Aug. 12, 2009 – Sales of existing single-family homes in Florida rose 23 percent in second quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 43,125 existing homes sold statewide in 2Q 2009; during the same period the year before, a total of 35,008 existing homes sold. It marks the fourth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to FAR.

Sales of existing condominiums statewide in the second quarter rose 29 percent compared to the same time the previous year. This marks the third consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

Statewide sales activity in 2Q 2009 also increased over 1Q 2009’s sales figure in both the existing home and existing condo markets, FAR records show. For 2Q 2009, statewide sales of existing homes rose 37.2 percent over the 1Q 2009 figure; existing condo sales statewide in 2Q 2009 increased 45.3 percent over the 1Q 2009 level.

“In spite of the challenges with the economy, most people – 83 percent – still believe that buying a home is a good financial decision, according to a recent survey from the National Association of Realtors® (NAR),” says 2009 FAR President Cynthia Shelton, CCIM, CRE, a broker and director of investment sales with Colliers Arnold in Orlando. (CCIM stands for Certified Commercial Investment Member and CRE is the Counselor of Real Estate designation). “Many homebuyers are realizing that this is the time to buy – with a good selection of housing inventory, affordable pricing and low mortgage rates.

“In fact, three-fourths of those responding to the 2009 National Housing Pulse Survey said they think now is a good time to purchase a home, a number that has increased steadily the past two years,” she says. “However, providing solid financing options for homebuyers is key to returning stability to the housing market, and buyers also need programs that help with downpayment and closing costs. That’s why the federal $8,000 first-time homebuyer tax credit and other programs enabling eligible buyers to access that tax credit for downpayment or closing costs are so important – programs like the Florida Homebuyer Opportunity Program.”

Sixteen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in the second quarter compared to the same three-month period a year earlier, while 12 MSAs showed gains in condo sales.

The statewide existing-home median sales price was $143,600 in the second quarter; a year earlier, it was $203,200 for a decrease of 29 percent. The 2Q 2009 statewide existing-home median sales price was 1.8 percent higher than 1Q’s statewide existing-home median sales price of $141,000. According to industry analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is a typical market price where half the homes sold for more, half for less.

In the year-to-year quarterly comparison for condo sales, 14,742 units sold statewide for the quarter compared to 11,459 in 2Q 2008 for a 29 percent increase. The statewide existing-condo median sales price was $111,100 for the three-month period; in 2Q 2008, it was $179,800 for a decrease of 38 percent. The 2Q 2009 statewide existing-condo median sales price was almost 1 percent higher 1Q’s statewide existing-condo median sales price of $110,100.

Continuing low mortgage rates remain another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 5.03 percent in 2Q 2009; one year earlier, it averaged 6.09 percent.© 2009

FLORIDA ASSOCIATION OF REALTORS

Labels: Florida Real Estate, naples fl real estate, Southwest Florida Real Estate Sales

NAR: Pending home sales up for third month
WASHINGTON – June 2, 2009 –

Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.

“Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” says Lawrence Yun, NAR chief economist. “Since first-time buyers must finalize their purchase by Nov. 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

The Pending Home Sales Index in the Northeast shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago. In the Midwest the index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008. The index in the South slipped 0.2 percent to 93.0 in April but is 3.5 percent higher than a year ago. In the West, the index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008.

NAR President Charles McMillan says there are numerous buyer assistance programs around the country. “Some states are offering bridge loans that allow first-time buyers to use the tax credit for downpayment and closing costs, but there are many other local government and nonprofit programs available to buyers, depending on location.

“Just last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans to buy down the interest rate or make a larger downpayment.”NAR’s Housing Affordability Index (HAI) is in record territory. The index rose to 174.8 in April from an upwardly revised 171.9 in March, and was the second highest monthly reading on record after peaking at 176.9 in January of this year. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income. Tracking began in 1970.

A median-income family, earning $60,900, could afford a home costing $296,800 in April with a 20 percent downpayment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80 percent of that amount. The affordable price was well above the median existing single-family home price in April, which was $169,800.

Yun cautions that the reporting sample for pending home sales is smaller than that of existing-home sales, so it is subject to greater variability.

“In addition, the relationship between contracts on pending home sales and closings on existing-home sales is taking longer than in the past for several reasons,” Yun says. “Mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment.”

The total number of existing-home sales is expected to improve but with dramatic local market variation in the timing of recovery. “The market has already bottomed in some areas, but this is an unusual housing cycle with some areas improving rapidly while others languish or decline,” Yun says.©

2009 FLORIDA ASSOCIATION OF REALTORS®

Labels: naples fl foreclosures, naples fl real estate, naples real estate for sale, Naples Real Estate Market, Southwest Florida Real Estate Sales

INVENTORY DECLINES 16 PERCENT FOR PROPERTIES OVER $300,000

Report Shows Overall Pending Sales Increase 87 Percent

NAPLES, Fla.-May 15, 2009- Inventory continues to diminish in Collier County as buyers take advantage of favorable sales prices, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

The overall available inventory for properties over $300,000 declined 16 percent to 5905 in April 2009 compared to 7088 in April 2008. The average days on the market decreased 15 percent to 165 in April 2009 compared to 195 in April 2008.

The April report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

Overall home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee, and Ave Maria, increased 20 percent, with 582 in April 2009 compared to 486 in April 2008.

Overall pending home sales for properties under $300,000 saw a 199 percent increase, with 792 pending in the April 2009 compared to 265 in April 2008.

Single-family home sales increased 46 percent with 304 in April 2009 compared to 208 in April 2008; single-family pending home sales in the less than $300,000 category saw a 298 percent increase with 446 in April 2009 compared to 112 in April 2008.

Condo sales saw a zero percent increase with 278 in April 2009 compared to 278 in April 2008; however, pending condo sales increased 66 percent with 468 in April 2009 compared to 282 in April 2008.

Overall pending home sales increased 87 percent to 1088 in April 2009 compared to 583 in April 2008.

To view the entire April report, go to www.Naplesarea.com or click to view the statistics: http://www.naplesarea.com/realestate_news/Statistics_2009_April_Naples_Market_Statistics_Price_Area.pdf

Call MARI VESCI REALTORS, Inc. for all of your real estate needs, 239-566-8989

Labels: naples fl real estate, Naples Real Estate Statistics, Southwest Florida Real Estate Sales

Interest in purchasing foreclosed homes rises

SAN FRANCISCO – May 21, 2009 –

Consumers appear to be more willing to buy foreclosures, with 55 percent of U.S. adults indicating that they are at least somewhat likely to consider a foreclosed home in the future, compared to the 47 percent of U.S. adults who indicated the same in November 2008, according to a new study. Harris Interactive conducted the survey for Trulia.com and RealtyTrac.

In the current market, adults in the U.S. believe foreclosed properties offer an even greater bargain opportunity than before, the study found. Forty percent expect to pay at least 50 percent less for a foreclosed home, compared to only 31 percent of U.S. adults surveyed in November 2008.

The May 2009 survey also found that 74 percent of U.S. adults familiar with President Barack Obama’s mortgage relief program are at least somewhat confident it will give homeowners the incentive to renegotiate with mortgage lenders in order to prevent their homes from going into foreclosure.

While overall consumer interest in buying foreclosed homes has increased, the current wave of the study also found higher levels of negative sentiment about forecloses. In November 2008, 80 percent of U.S. adults felt that there were negative aspects to purchasing a foreclosed home. In the current survey, the number of U.S. adults concerned with negative aspects rose to 85 percent.

Among the 85 percent, 71 percent cite hidden costs as their top concern, 46 percent believe the process is risky and 31 percent are concerned that the home will lose value. Not surprisingly, consumers expect hefty discounts on foreclosed homes, with 83 percent believing they should pay at least 25 percent less for a foreclosed property, perhaps to compensate for perceived risks.

“As interest in purchasing foreclosed homes increases, competition is heating up with traditional sellers competing with bank-owned prices,” said Pete Flint, co-founder and CEO of Trulia. “Across the U.S., 24 percent of existing homes for sale on the market have seen at least one price reduction in order to stay competitive, creating a tremendous opportunity for consumers to buy homes at significantly lower prices. Competition amongst sellers, along with the newly created economic incentives, has created the most significant discounts that we’ve seen in decades, presenting opportunities for first-time homebuyers and families looking to trade up to a bigger home.”

“Although consumers are aware that there may be some challenges involved in purchasing a foreclosed home, they are very interested in the bargain opportunities available in the foreclosure market,” said Rick Sharga, senior vice president of RealtyTrac. “People want the best deals they can find and they are willing to go outside their comfort zones if it means they can buy more home for less money. Consumers who educate themselves on the opportunities available will likely be rewarded.”

Most likely to buy foreclosures:

• Two-thirds of U.S. adults between the ages 18-44 (66 percent) would consider purchasing a foreclosed home, compared to a little more than one-third of those ages 55 and older (38 percent). Respondents aged 45-54 fell in between, with 53 percent indicating that they would be at least somewhat likely to consider a foreclosed property.

• Current renters (68 percent) are more likely to consider purchasing a foreclosed home than current homeowners (49 percent).

• U.S. adults with children under 18 living in their household also show an increased likelihood to consider foreclosure properties, with 66 percent indicating they would be at least somewhat likely to purchase one, compared to 49 percent of those without children under 18 in the household.Confidence in mortgage relief plan

• 74 percent of U.S. adults familiar with President Obama’s mortgage relief program are at least somewhat confident it will give homeowners the incentive to renegotiate with mortgage lenders in order to prevent their homes from going into foreclosure.

• U.S. adults aged 18-34 familiar with the program have the highest confidence level in the mortgage relief program.

• 84 percent are least somewhat confident in the plan, compared to 71 percent of those aged 35-44, 69 percent of those aged 45-54, and 71 percent of those aged 55-plus.

• Interestingly, women familiar with the program are more likely to be at least somewhat confident in its ability to give homeowners the incentive to renegotiate with their mortgage lender in order to prevent their home from going into foreclosure than men familiar with the program (79 percent vs. 69 percent, respectively).

The May 2009 survey was conducted online within the United States by Harris Interactive via its QuickQuery online omnibus service on behalf of Trulia between May 1-5, 2009 among 2,397 U.S. adults aged 18 years and older

If you are interested in receiving a list of foreclosures or discussing properties for sale in the Naples area please call MARI VESCI REALTORS, Inc. at 800-248-3724

Labels: florida foreclosures, naples fl foreclosures, naples fl real estate, Southwest Florida Real Estate Sales

Made-over condos sell in North Naples
By Christina Cepero
News Press

Along Vanderbilt Beach, condominiums have been selling after a proactive
effort by Bonita Springs-based K2 Design Group to spruce up buildings
and residences up and down Gulfshore Drive.

“So many made good use of a market in pause, and we’re now seeing buyers
walking into condominiums that knock their socks off and they’re buying
them,” explained Mari Vesci, owner of Mari Vesci Realtors, Inc. “For
homeowners as well as sellers, the trend is definitely makeovers.”

Vanderbilt Beach, a 1.3 mile stretch of land between a Ritz-Carlton
Hotel and Delnor-Wiggins State Park, has prime beachfront real estate,
much of it in high-rise towers. Upscale dining in the immediate vicinity
include Baleen at La Playa Beach & Golf Resort and the Turtle Club. The
intimate neighborhood even holds vestiges of Old Florida with Buzz’s
Lighthouse Restaurant and Lighthouse Inn on Vanderbilt Lagoon.

The demographic most attracted to Vanderbilt Beach comprises of empty
nesters in the 50-year age range, Vesci said. Whereas the traditional
buyer has been a second-home buyer, high technology and the virtual
office have paved the way for longer stays.

A perfect example of the what is happening in many of Southwest
Florida’s more mature high-rise condominium communities is found at
Vanderbilt Gulfside Condominium, where exterior common areas as well as
residences are sporting sophisticated new looks.

Flexible living space and innovative storage solutions are high on the
priority list for those wanting to turn dated vacation condos into
year-round residences. In one condominium, the successful transformation
of a two-bedroom layout resulted in two additional remodel contracts for
K2 Design Group, a single-source architectural, interior design and
construction management firm.

“The owners wanted better use of their home,” said Jenny Carter,
president and principal designer of K2 Design Group.

As in the case of many homes, one of the bedrooms was rarely used.
Opening that one room changes the dynamic of the entire home with
increased functionality and stylish looks. To accomplish that, K2 Design
Group expanded the air conditioning onto the lanai at one end of a great
room and created an attractive work space, a beautiful setting to catch
up on e-mail. In the same area, sliding acoustical panel doors allow the
space to convert — with finger-tip ease — to a guest suite for the
occasional visitor.

In the kitchen, which was opened to living areas, glass-walled cabinetry
showcases the homeowner’s handcrafted blown glass collection while
concealing electrical and plumbing.

“This is a dramatic change,” Carter said. “By eliminating the wall that
had previously housed the electrical panel, we gained a view. Glass in
the curio cabinets also allows the Gulf view to be seen from the entry.”
Throughout the home, ceilings were opened and ductwork was moved. The
foyer was opened. In addition to a much-improved interior, the facelift
opened the residence and changed the focus from walls to beautiful views.
Several touches incorporate existing features. A wave ceiling treatment
adds interest and creates the illusion of depth without having to raise
the ceiling. Paneling kitchen appliances with wood skins matching
cabinetry lends an integrated look. Recovered living room furniture
blends with the renewed interior.

“High-rise makeovers take a bit of ingenuity, and K2 Design Group has
completed many,” Carter said. “We won new contracts when residents in
the same building saw everything that we did and appreciated that we
could completely open a two-bedroom unit. Clever adjustments enable
condominium residents to enjoy their homes so much more.”

When they were built in the 1980s, these beachfront residences were not
about high ceilings. The entire ceiling was lowered to the depth of the
duct work.

“We have the technology and skills today to open high-rise spaces and
the impression is dramatic,” Carter said. “Homebuyers do not always have
the vision to imagine what’s possible. For sellers, these makeovers
create interest.”

Celebrating a 15-year anniversary, K2 Design Group has completed upscale
residential and commercial projects in Southwest Florida — from Marco
Island to North Fort Myers — and throughout the United States.
Internationally, the company has completed work in the Bahamas, Canada,
England, Germany, Ireland and Panama.

Sitting on 8.8 acres, the 80s-era high-rise property — 72 residences in
each of two towers — is in the midst of an exterior facelift. Parking
structures, entry gate and porte-cochère have been replaced. Lush
landscaping has been enhanced and is receiving increased attention with
a new irrigation system. Attractive pavers replaced asphalt along the
winding driveway and Italian stone was installed around the pool and
walkway. In addition to fresh paint, exterior balconies, railings and
screens are being upgraded.

Along Vanderbilt Beach, many bought their homes more than 20 years ago
for well under $200,000. In addition, many were bought as vacation
homes. While the real estate appreciated considerably, the common
thinking was that there was no need to spend money to fix what was not
broken, especially when cosmetic improvements would be costly.
Perspectives change in a buyers’ market, Vesci said.

“Potential buyers have certain expectations about the amenities,” she
said. “First impressions count. No matter how nice a condominium is, a
buyer considering the purchase of a condominium might not even come to
look if they hear that the building’s common areas are not scheduled for
some kind of improvement.”

At Vanderbilt Gulfside Condominiums, sellers, homeowners and real estate
agents alike are pleased with a fresh exterior and stylish interiors,
said Pat Gibbs, manager.

“Our residents are thrilled that the exterior is brand new and in
keeping with the upscale nature of the neighborhood,” she said. “And
Realtors love it when they can show a property like this following a
makeover. It generates excitement.”

For more information, visit k2design.net.

http://www.news-press.com/apps/pbcs.dll/article?AID=/20090506/NEWS0102/90506062&template=printart

For all of your real estate needs, call Mari Vesci at 239-269-8889 or email mari@vesci.com

Labels: naples fl real estate, Naples Real Estate, Naples Real Estate Market, real estate sales trends, Southwest Florida Real Estate Sales

Pending Home Sales Rise, Housing Affordability Near Record
Washington, May 04, 2009

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®.The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7.

Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”

NAR’s Housing Affordability Index2 remained near record highs. The affordability index was 166.7 in March – down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.

The Pending Home Sales Index in the South rose 8.5 percent to 93.2 in March and is 7.7 percent above a year ago. In the West the index increased 3.9 percent to 93.1 and is 1.7 percent higher than March 2008. The index in the Northeast fell 5.7 percent to 59.5 in March and is 24.1 percent below a year ago. In the Midwest the index slipped 1.0 percent to 82.3 but is 8.2 percent higher than March 2008.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the increase in buying power is quite remarkable. “Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment,” he said. “For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”

A median-income family, earning $61,100, could afford a home costing $291,600 in March with a 20 percent downpayment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80 percent of that amount. The affordable price was notably higher than the median existing single-family home price in March, which was $174,900.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

http://www.realtor.org/press_room/news_releases/2009/05/march_phsi

Labels: first time homebuyer credit, Florida Real Estate, Southwest Florida Real Estate Sales

Moraya Beach Tower boasts forever views
6:00 a.m., Saturday, April 25, 2009
Contributed by Signature Communities- Naples Daily News

Take one step into the grand entry of the new Moraya Bay Beach Tower on
Vanderbilt Beach, and view a panorama of turquoise and emerald colored
Gulf waters across a lobby as large as the upper deck of an ocean liner.
Architect Van Auken Miller of Naples created a jaw dropping sense of
arrival with splashing fountains, skyrocketing sculptures of water and
fire, and extraordinary curved glass "window walls" and Gulf-front
balconies.

The curvilinear entrance foyer and lobby is an overwhelming space with
an unbroken view of the water's edge to welcome residents and leave
guests with an unforgettable impression.

Giant squares of glass set within flowing curved walls define the
contemporary 11-story tower of luxury residences. The polished stone
floors reflect the colors of the beach and sky. Rich dark woods define
the concierge's desk and station in the tradition of a five-star resort.
Moraya Bay Beach Tower by Signature Communities on Vanderbilt Beach will
open this summer. The tower is located at the northernmost end of Gulf
Shore Drive. The views to the north extend for three miles across state
and county park-protected conservation areas beyond Wiggins Pass to
Barefoot Beach Park.

Signature Communities, who have built over 3,000 luxury residences in
Naples, consider Moraya Bay to be the company's crowning achievement.
Residents are steps away from the beach and can comb it for miles to
Wiggins Pass without passing another condominium.

Moraya Bay Beach Tower is the culmination of two decades of Signature
luxury residences and a history that includes development of prestigious
neighborhoods: Pelican Bay, Pelican Marsh, Regatta and The Dunes.
Residents drive to the elevated motorcourt entry and grand lobby. The
building's plaza level is dedicated to amenities. At the south end, a
glass-surrounded fitness center overlooks the beach and Gulf of Mexico.
At the northernmost end, a private clubroom and lounge command sunset
views of the Gulf.

Residents can take an elevator or outdoor stairways to two tropically
landscaped sundecks, each with a resort-style swimming and lap pool. A
poolside grotto bar is reminiscent of the Cain at the Cove pool deck
within the Atlantis resort on Paradise Island. The dune line between the
pools and the Gulf's shore has been planted with native vegetation.
Private elevators open directly into each residence. A second service
elevator also opens into the owner's service hall. Floor plans are open
and light filled offering up to 4,500 square feet of air-conditioned
space and 5,400 square feet of total living area. Prices range from $2.9
to $4.9 million.

Nine-foot ceiling heights and floor-to-ceiling window walls capture and
accentuate the feeling of openness. Wide and deep covered open air
terraces with glass rails wrap around each residence to create panoramic
vistas. From the grand salon, dining room, kitchen and master bedroom,
residents will view the Gulf and beach.

Those who love to entertain will appreciate their gourmet kitchen and
the adjacent pantry and catering kitchen. These large open spaces
include stainless steel appliances, granite countertops and custom
European cabinetry. GE Monogram appliances include a gas cook top,
icemaker, Advantium combination convection/conventional ovens,
side-by-side refrigerator, and under-counter wine cooler. All kitchens
adjoin catering kitchens which include a full size refrigerator, double
sink, dishwasher, wine coolers and additional counter and storage space.
The baths feature marble countertops, jetted tubs and all-glass showers
and his-and-her water closets. Master bedrooms include room sized
walk-in dressing rooms.

The 06 Residence exemplifies the luxury offered within the tower. The
private elevator doors open to views that expand outward to the Gulf and
beach. Three bedrooms each have private baths.

The beachfront master suite includes a 23-by-9-foot, 6-inch dressing
room. All main living areas - family room, grand salon, dining room and
gourmet kitchen - are focused toward the arch of a window-wall that
opens to a 670-square-foot open terrace.

Floor-to-ceiling window walls capture gulf-front breezes and accentuate
the feeling of openness. Wide and deep covered terraces with glass rails
wrap around each residence to create panoramic vistas.
From the grand salon, dining room, kitchen and master bedroom,
residents will view the Gulf and the beach.

Over half of the 72 tower residences have been sold. Residences are
smart-wired for a variety of advanced technological features for
entertaining and communication.

Glenn Griffin serves as chief marketing officer of Signature Communities.
"Forever views and value best describes the Moraya Bay Beach Tower,"
said Griffin, and potential buyers will find this a most fortunate time
to purchase, as they can tour the nearly finished building, choose their
views and create the home of their dreams."

For additional information on this or other Vanderbilt Beach properties, contact MARI VESCI REALTORS, Inc. today at 239-566-8989

http://www.naplesnews.com/news/2009/apr/25/moraya-beach-tower-boasts-forever
-views/

Labels: Moraya Bay, naples fl real estate, Naples Real Estate Market, Southwest Florida Real Estate Sales, vanderbilt beach

NABOR Reports March 2009 and First Quarter 2009 Real Estate Transactions

SALES OUTPACE NEW INVENTORY

Report Shows Inventory Declines 8 Percent

The increase in sales indicates that the Naples real estate market is making a comeback. An upward swing in the local market has boosted consumer confidence, attracting buyers who had been cautious due to watching national trends.

"Significant increases in the number of buyers actively looking at residential property are being reported by area REALTORS®, noting that realistic pricing adjustments have spurred buyers to get off the fence.The first quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary.

The statistics are presented in chart format, along with the following analysis: Overall home sales for properties under $300,000 saw a 113 percent increase, with 964 sales in the first quarter of 2009 compared to 452 in the first quarter of 2008.Single-family homes sales under $300,000 increased 242 percent with 510 in the first quarter of 2009 compared to 149 in the first quarter of 2008.

The overall median closed price decreased 36 percent to $237,000 for the 12 month ending March 2009 from $370,000 for the 12 month ending March 2008. 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. It should be noted that in any given period the median could vary greatly if there is an anomaly, a single sale that is significantly higher or lower than other properties in the area.

The inventory in the under $300,000 single-family home market has a current 14 month supply, down from 45.6 months of inventory in March 2008.

Pending sales in the under $300,000 price range continues to lead the way in March 2009 increasing 194 percent with 808 compared to 275 in March 2008.The March report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary.

The average days on the market decreased 14 percent to 159 compared to 185 in March 2008.Overall single-family pending sales saw a 137 percent increase, with 625 in March 2009 compared to 264 in March 2008Condo sales saw a 11 percent increase with 277 in March 2009 compared to 250 in March 2008."

Labels: http://www.naplesarea.com/realtor-issues.asp, Naples Real Estate, Naples Real Estate Market, Naples Real Estate Statistics, Southwest Florida Real Estate Sales