The Naples luxury home market continues to show a solid upward trend. All sectors of the market show improvement, with a few specific market segments showing remarkable gains. If you are wondering if now is the time to get serious about your home search in Naples....market stats will tell you. “Don’t wait!”

Let’s look first at buyer demand. The key indicator of demand is the number of homes available. Overall, the local MultiList inventory shows a 16% reduction in the number of homes available for sale in the second quarter of 2013, compared to a year ago. Taking an historic view, today’s inventory is at the lowest point since the Naples Area Board of Realtors began tracking in January 2007. Available properties - especially those that are highly desirable - are being snapped up as fast as new listings hit the market. Properties in the $2 million + price range are moving much faster than a year ago, with the number of days on the market down by 1/3.

Simply put - options are scarce, and this situation produces a sense of urgency in buyers. Desirable homes are moving, and moving fast.

Now, let’s take a look at home prices for pending and closed sales. Single-family home prices in the second quarter of 2013 are up a striking 26% over the second quarter of 2012. Pricing jumped 18% in the $190-225,000 category, and 33% in the $300-500,000 price category. The jump in pricing for more affordable homes reflects a shrinking supply in these price brackets. In other words, I expect that a number of homes now in that $300-500,000 category will soon move into the $500,000 - 1 million price range.

Why the uptick in price? Increased buyer demand and limited inventory is certainly part of the equation. In addition, the notion that Florida’s real estate market is flooded with short sales and foreclosures simply does not bear weight in the current Naples Market. The distressed market now represents a negligible segment of Naples’ total sales. Those who come to Naples in search of a wide selection of distressed “bargain” properties are likely to be disappointed.

What about current trends in home sales? With inventory down and prices headed up, buyers need to be poised and ready to make an offer. Whether you are looking for a more modestly priced home, or something in the multi-million dollar range, sales trends are strong.
The following market segments showed striking upward movement:

• Sales are up 30 percent in the $300,000 to $500,000 category 
• Sales are up 26 percent in the $1 million to $2 million category, 
• For the second quarter of 2013, the $2 million+ segment experienced a whopping 38 percent increase.

My goal in working with clients is to remain sharply attuned to new listings, pricing trends, and opportunities that will put clients into the best possible situation when presenting an offer on the home that is best for their needs. Whether you are an existing client, or just beginning your search for for a home in the beautiful Naples area, I am anxious to partner with you. Let’s talk soon - don’t let your dream home get away!

WASHINGTON (AP) -- U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening.

The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday also surged 2.4 percent in May from April. The month-over-month gain nearly matched the 2.6 percent increase in April from March - the highest on record.

The price increases were widespread. All 20 cities showed gains in May from April and compared with a year ago.

Prices in Dallas and Denver reached the highest level on records dating back to 2000. That marks the first time since the housing bust that any city has reached an all-time high.

Home values are rising as more people are bidding on a scarce supply of houses for sale. Steady price increases, along with stable job gains and historically low mortgage rates, have in turn encouraged more Americans to buy homes.

Higher home prices help the economy in several ways. They encourage more sellers to put their homes on the market, boosting supply and sustaining the housing recovery. And they make homeowners feel wealthier, encouraging consumers to spend more.

The index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The May figures are the latest available. They are not adjusted for seasonal variations, so the monthly gains reflect more buying activity over the summer.

Mortgage rates have surged since early May, though the increase would have had little impact on the current report. The average rate on a 30-year fixed mortgage has jumped a full percentage point since early May and reached a two-year high of 4.51 percent in late June.

Rates jumped after Chairman Ben Bernanke said the Federal Reserve could slow its bond-buying program later this year if the economy continues to improve. The Fed's bond purchases have kept long-term interest rates low, encouraging more borrowing and spending.

In recent weeks, Bernanke and other Fed members have stressed that any change in the bond-buying program will depend on the economy's health, not a set calendar date.

Since those comments, interest rates have declined. The average on the 30-year mortgage was 4.31 percent last week.

Reference: http://www.naplesnews.com/news/2013/jul/30/us-home-prices-rise-122-percent-best-6-years/

It’s Summer! The Snowbirds have travelled north, but our area remains a popular destination for vacationers.  Visitors and “locals” alike enjoy lighter traffic and lots to do.

What’s happening this summer in Naples?

Get Outdoors! Yes, we are prone to afternoon rains, but getting up and out early allows you to enjoy our beautiful surroundings before clouds typically roll in. Try a morning walk through the Naples Botanical Gardens (open 8 - 3), or check out the Conservancy of Southwest Florida Nature Center (Mon.-Sat. 9:30 - 4:30) for a boat tour, birdwatching, or the Discovery Center Sea Turtle exhibit. Take a morning beach walk, or meander out on the Pier. You just might spot a school of dolphins, even in the shallow waters!

Enjoy a Free Concert! Bring the family to The Mercato throughout the month of July for a variety of oldies and classic rock performers. The Naples Beach Hotel offers monthly jazz concerts on the lawn in July, August, and September.

Eat Fresh and Local!  Our farmer’s markets continue throughout the summer months, including those at the Government Complex, Third Street South, and the indoor market at the Galleria Shoppes at Vanderbilt (now open Friday and Saturday through the summer).

Get Literary!  The Collier County Library continues its fine programming of book discussions and films through the summer months. The library offers a great variety of children’s programming through the summer, as well.

Catch a Movie! The Naples International Film Festival offers screenings of a wide variety of international films at the Silverspot Cinema through September. Admission includes informal discussion of the film, as well as a beverage and snack. For those with children, check out the Hollywood Theater’s $1 summer kid flicks every Tuesday at 10 am, or Mommy Matinee Mondays at Silverspot Cinemas. The Mercato offers a full lineup of free movies under the stars through the month of July.

Create Your Own Gallery Crawl! Start at the Von Leibig Center for the Arts; this summer you’ll have the chance to view two excellent photography exhibits, “Capturing Our World,” and “Camera USA.” Then head to Ninth St. North to the Harmon-Meek Gallery’s exhibit, “Orange You Glad It’s Summer,” featuring American modern and contemporary masters. Up at the Mercato, check the artistic offerings at Saturday Nights Alive.

Plan a Night at the Theater! The Naples Players’ summer musical is always a treat, but this year will be a blockbuster with Les Miserables. Get your tickets early!

Tune in to Local History! The Collier County Museum offers free admission. Current exhibits are “Florida’s Final Frontier” and “The History of Transportation in Collier County.” Or take a tour of Palm Cottaage (Tues.-Sat. 11-4) to learn about Naples’ earliest settlers.

Dine on a Dime!  Many local restaurants offer top quality cuisine and wine specials during the summer months. Check out your favorites, or try something new; look for “buy one get one” specials, dinner packages including a bottle of wine, or discount coupons in local papers and online.

Without a doubt, Naples offers summer visitors and year-round residents lots of options for summer fun!

Naples real estate has shown eighteen straight months of positive momentum. Single family home sales are especially strong, with sales in the $300,000 to $500,000 range up 23% in May, as compared to May 2012. In fact, May brought double-digit increases in sales across almost every price range over last year.

At the same time, current home inventories remain at lowest levels in years. This means that prospective buyers need to work closely with their realtor to be sure that the “perfect” home doesn’t get snapped up right away. Desirable homes can move fast – even within a few days of coming onto the market. In addition, limited availability means that the most desirable properties attract multiple bids, and average days on the market are down significantly.

Overall, the Naples luxury real estate market is on track for continued success in the second half of 2013. Home buyers can move forward with confidence that the market is on a path toward balance and stability, and that this is a great time to take a look at  Naples real estate.  Whether you are a local resident considering a move up to your dream home, or an out-of-town resident looking at owning your own piece of Paradise in Southwest Florida, the time is right for you to explore the options in Naples!

Economists and real estate professionals are keeping a close eye on home prices nationally. And it’s no secret that things are looking up. One recent headline proclaimed that “Real Estate is Back” as an investment.

 Here in Naples, our real estate market and local economy are robust and moving into summer with vigor.

 This week the National Association of Home Builders Market Index named Naples as a national leader in improved housing markets. What do I see as key contributors to this key position in the national market? Let’s look at a few indicators that point to these strong local trends:

• Home prices in our area are on a definite upswing, at rates that outpace many major metropolitan areas in the US (including the metro DC area, Philadelphia, and Chicago).    
• New construction permits are up 5.7% over 2012, which ties Naples for 2nd place statewide.    
• The local tax base in Collier County is up more than 3%. This growth is in large part because of a surge in new residential construction in 2012.    
• Employment has grown faster in the Naples area than in any other city in Florida. Naples shows employment growth at 10.4%.    
• Tourism broke records in the first quarter of 2013. Local resorts expect a solid summer season, and many conventions are booked through the end of 2013.

Notably, the Scripps Howard Foundation selected Naples as the site of its annual Scripps Howard Awards, honoring the best in national journalism. The NAACP held its annual Leadership 500 Awards ceremony in Naples this year, as well.

“The Season” - and the luxury home market - has been incredibly busy here in Naples, and as summer approaches the local real estate market shows no signs of slowing down. According to Mike Hughes, Vice President and General Manager of Downing-Frye Realty, “For the last few years we have continued to see strong home sales in the summer. The notion of strong sales occurring only during traditional ‘season’ is no longer, and we are very bullish on the real estate market heading into summer.”

Trends that we saw emerge through the winter months continue to hold strong, creating what some call a “real estate trifecta.” Specifically:

• The inventory of existing homes remains low, with overall inventory down 15% from April 2012,
• Average days on the market decreased 14% from April 2012 statistics, and
• Median home prices continue to increase.

As a customer, what does this “trifecta” mean to you?

First, when we locate a home that is right for you, we need to take action! April was the first month in quite some time that average number of days on the market has decreased significantly. When the “right” property is listed, it is likely to move quickly.

Secondly, we need to watch specific market segments very carefully to find the right combination of price and property availability. Sales are especially strong in condominiums priced between $1-2 million, and in single family homes priced between $300-500,000 as well as between $1-2 million. If you are looking at a home in these price ranges, in particular, we need to be vigilant to locate the property best for you and submit an offer promptly.

Finally, with prices on an upward track, buyers need to be aware that the days of “bargain shopping” for a home in Naples are behind us. While rumors persist about the bargain prices of Florida real estate, those rumors certainly don’t hold true here in Naples. I am glad to consult with my clients about making an offer that maximizes your opportunity to move into your dream home.

Simply put, it’s good news all around for the luxury home market in Naples!

50 Things You'll Love About Naples

Regular readers of my blog know that the Naples area inventory of existing homes for sale has dropped consistently and significantly over the past 12-18 months. As a result, buyers are increasingly focused on new construction.

Collier County issued 110 single-family homebuilding permits in February, a 58% increase over the same month in 2012.

In future weeks, I will highlight desirable new communities in and around Naples. With that in mind, my clients may be interested in these news features that elaborate on future development trends in Naples.

First, a “Naples Newsmakers” feature with Naples Daily News Editor Jeff Lytle and guests Blake Gable of Barron Collier Companies, Mike Belmont of Minto Communities and Pat Neal of Neal Communities. Developers point out that future development in Collier County will lie along the Immokalee Road corridor, east of Collier Blvd. In fact, we already see significant development at Bent Creek, less than one mile east of Collier and Immokalee. Land preparation is also well underway for the Esplanade Golf and Country Club of Naples, a development of some 1800 acres at the northwest corner of Collier Blvd. and Immokalee Rd. The Quarry, Heritage Bay, and Twin Eagles are well-established communities in this area that will pave the way for future development.

Secondly, the Florida Business Observer makes the following statement about future development in the Naples area:

“The potential hot spot in Collier...is Golden Gate Estates. “The area has the potential to host up to 200,000 new residents in the next 20 years. Yet, there is no commercially zoned land anywhere in Golden Gate...As a result, people who live east of I-75 must now drive west toward Naples for goods and services. As new families move into that area, they are expected to demand convenient commercial centers. New zoning will allow office parks and retail centers to service the area. When and how that happens is yet to be seen, but it will happen...People are moving here. You can’t stop them. You can’t say I’ve got mine but you’ll have to move on. The very things that attracted all of us to Southwest Florida will continue to act as a magnet for others. We are going to have to be able to house them and provide them with goods and services. That will drive commercial development in that area.”

(Source: SW FL Business Observer)

Let’s keep a close eye on development trends as they unfold. The Naples area and Collier County in general is on the move!

As clients settle into their new homes, it is a priority to make the whole family feel comfortable and settled as quickly as possible. For many Naples homeowners, this includes the family dog.

And when relocating to a new area, it is essential to know of reputable pet service providers right away - for those “just in case” moments when your favorite furry friend seems under the weather, or when he needs grooming after a dive into the pool, or when you are looking for a few pet supplies.

Naples offers a full array of pet services and specialty shops, ranging from dog parks to exclusive custom accessories.

Let’s start with veterinary care. Concierge Veterinary Care of Naples offers reliable and friendly veterinary care. If your pet has special needs and is unable to travel to the office, Concierge Veterinary Care offers mobile veterinary service and will bring services to your door, or transport your pet to their office. A second excellent option is Golden Gate Animal Clinic,, where you will find great care for your cat or dog, as well as specialty care for birds and reptiles. In the event of an veterinary emergency, call the Emergency Pet Hospital of Collier County where veterinarians are on staff overnight.

Time for grooming? Options abound in Naples, but I personally recommend Helene’s Shear Haven for routine grooming or special pampering. Located on Bayshore just a few blocks east of downtown, Helene’s does a great job!

If it’s a pet sitter you need, or dog walking for times that your furry friend is along for an especially long day, call Paws @ Home Pet Sitting. Darlene will schedule a time to meet your pets and work to accommodate your schedule for exercise, feedings, or overnight stays. Darlene is reliable and her love for animals shines through from the moment you meet her.

Give your dog a good workout at one of the free fenced dog parks in the Naples area. In Collier County, your dog will enjoy playmates at the Naples Dog Park off Central Avenue (close to downtown), Rover Run at Veteran’s Park in North Naples, or Canine Cove on Marco Island.

Of course, Naples offers easy access to the major pet stores, with both Petco and Pet Supplies Plus nearby. If you’re interested in boutique-style shopping for your pet, you’ll enjoy browsing at Pucci and Catana or Fergie’s Closet on Fifth. For pet gifts and numerous natural pet food options, take a look at For Footed Friends at the corner of Livingston and Pine Ridge.

If you are new to Naples, you will soon learn that we are a pet friendly community, offering a full range of services and shopping to help the entire family settle in comfortably!

Last week, my blog highlighted some of my favorite local restaurants.

But what about the days that we’re eager to cook at home, or are itching to try something new?

Naples is loaded with options for great cooking classes, both in season and year round. Whether your tastes run toward gourmet cuisine, ethnic foods, hearty soups, or healthy options - there is something for everyone’s taste.

Locating a cooking class can be as easy as scouting out some of Naples’ great gourmet shops, as well as our fine chefs who offer courses in their restaurants. Here’s a sampling to get you started:

Williams Sonoma: Located at the Waterside Shops, Williams Sonoma publishes a monthly calendar of culinary events. Seasonal foods form the base of many technique classes at Williams Sonoma; right now, the calendar features summer drinks and homemade condiments for grilling. You can also learn the basics of knife skills and “how to’s” for varied kitchen tools. Don’t overlook the Cookbook Club, which includes a signed cookbook and class with featured recipes.

www.williams-sonoma.com

Sur La Table: Head up to the Mercato, where the Sur La Table kitchen is buzzing with activity! Demo classes are priced as low as $5. The full range of classes covers a multitude of topics: ethnic foods from around the world, fish, pasta, baking, grilling, and even a series entitled, “How to Cook Everything.” Something is cooking almost daily at Sur La Table!

www.surlatable.com

The Good Life: Located in the Shoppes at Vanderbilt at Vanderbilt Beach Rd. and Airport-Pulling, The Good Life is an independently owned cooking and gourmet shop with 40 years of history in Southwest Florida. Weekly cooking classes and cooking demonstrations feature a variety of cuisines and specialty topics. Healthy soups, jam making, and Asian foods are among current topics offered at The Good LIfe. And keep The Good Life in mind when planning your next get together - the store hosts private cooking classes and parties.

www.goodlifenaples.com

Whole Foods Market: Back at the Mercato, Whole Foods’ Lifestyle Center is home to varied cooking classes and events throughout the year. Kids’ cooking is a special highlight during the spring and summer season.

www.wholefoods.com

The Sauce Lady: On North Tamiami Trail, The Sauce Lady now hosts premier cooking classes. Learn Italian cooking from a true Italian! Watch the website for special events, or schedule a party for friends. Enjoy good food and great fun

www.thesaucelady.com

Le Lafayette French Gourmet: Try your hand at French cooking in a small group setting. Classes are held in the restaurant kitchen.All classes include Le Lafayette’s signature vinegarette and a specialty entree. Saturday children’s classes are offered, as well.

www.lelafayette.com

Local chefs offer periodic cooking classes at their restaurants. Keep your eyes open for class offerings - many including lunch! - at Campiello, Chez Boet, Artichoke and Company, and Alexander’s.

As always, there is more to do in Naples than I can list. Here’s hoping that as you settle in to your new home - and new kitchen! - that you’ll enjoy many marvelous meals, with a little help from our local chefs and culinary instructors.