New construction could be delayed because of Hurricane Irma.
Future homeowners, with houses currently under construction, will have to wait a bit longer than expected to move in. Hurricane Irma has set back timetables for everything from labor to supplies. The hurricane could also be costly for developers who have contracts with fixed prices.
Richard Durling, president of the Lee Building Industry Association (Lee BIA) and owner and president of Marvin Development Corp., said people should expect delays and higher costs.
“The first thing is cleanup and recovery which is what everyone is in gear to do right now,” Durling began. “Until that occurs, it will be a little slow to get back on schedule for the new constructions jobs.” Read Full Article… View New Communities…
Since Sunday I have toured many areas, driving around Naples, Bonita Springs and Estero looking at damages after the passage of Hurricane Irma. Driving on US 41 from Estero to Naples, damages are barely noticeable: A few signs are gone, some posts are twisted, old and large trees are on the ground but palm trees have largely resisted the fury of the storm.
On Gulfshore Blvd in Naples, The Moorings and Park Shore neighborhoods have landscape’s damages, the buildings do not have structural or large damages. Minor damages can be seen on the roofs of very few buildings.
Buildings in Pelican Bay have perfectly resisted damages, due to the lush landscape of the area, numerous beautiful large trees are down but it will not be noticeable after cleanup as many trees remain intact. Vanderbilt Beach‘s beach front or bay front buildings have also well borne the storm with no evident damages.
In Bonita Bay, many old and large trees are down too; once they will be removed, it will be difficult to notice it.
Most affected areas seem to be in East Naples and Marco Island or very specific areas by flooding or where there’s been tornado activity.
Cleanup has started actively everywhere, 80% of FPL customers in Collier County had power restored, and 92% of Lee County Electrical Cooperative had lights back on.
FPL vows to have all power back this Friday, September 22nd.
There is no reason to doubt: Naples, Bonita Springs and Estero will recover promptly without any scars! View Properties For Sale in Naples to Estero…
Naples, Fla. (August 25, 2017) – REALTORS® in Naples sold more existing homes in July (682) than they did in January (603) or February (613), a statistical reality that busts an old myth that home sales stall in the summer. In fact, overall closed sales in the market’s sweet spot (homes priced between $300,000 and $500,000) increased 32% in July. Broker analysts reviewing the July 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which track home listings and sales within Collier County (excluding Marco Island), said a 9% increase in closed sales during July was very good, but the continued reduction of inventory, especially in the single-family home market, is cause for concern as it limits choices for buyers. View Complete Report… View Statistics Report… Search Properties by Neighborhoods, Communities and Zip Code…
Overall closed sales of homes in May shined brighter than any other month previously reported in 2017, with an impressive 23% increase to 1,027 closed sales in May 2017 from 838 closed sales in May 2016. Likewise, overall pending sales (homes under contract) also outperformed activity reported in the last four months. Leading broker analysts who reviewed the May 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are quite confident that real estate agents will be very busy this summer.
“If May’s momentum continues, this year will turn out better than last year,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “Home sales during the summer months have become stronger over the past few years. We are no longer seeing a huge disparity in activity between winter and summer like we once did.”
One familiar obstacle summer buyers will face again this year is a reduction in available inventory.
“This type of behavior is short sighted,” said Hughes. “Those who let a listing expire at the end of our winter season are missing a huge opportunity to sell their property during the summer months.” Hughes added that our area attracts a variety of buyers during the summer such as international travelers, families from Northern states, and those relocating from other parts of Florida.
The NABOR® May 2017 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® May 2017 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
NABOR (Naples Area Board of REALTORS®) just released today the market report for real estate in the Naples area for April 2017. Here are the principal points of the report. – Overall inventory in April increased 8 percent to 5,920 homes in April 2017 from 5,480 homes in April 2016.
But at the same time: – Inventory decreased for the second consecutive month and prices continued to remain stable in April, setting into motion a burst in end-of-season sales for homes in the market’s sweet spot – the $300,000 to $500,000 price category. – The April report showed a 41 percent increase in pending sales for homes in the $2 million and above price category.
– Most notable was a remarkable 35 percent increase in the $2 million and above condominium inventory for April.
– Homes that are unrealistically priced influenced April’s average days on market, which showed an increase of 35 percent to 97 days in April 2017 from 72 days in April 2016. – Prices overall have remained relatively flat over the last year.
Naples Area Board of Realtors® (NABOR) has just released the real estate market report for October 2016 compared to October 2015 for residential real estate transactions in the Naples area. Despite an increase of transactions using mortgages (44%), 65% of transactions are cash sales in the Naples area. The overall pending sales decreased 13% but the numbers continue to show an accrued interest for properties over $500,000:
Overall pending sales increased 14%.
Pending sales of condominiums from $500,000 to $1 million increased 30%.
Here are the other noticeable figures for this report:
Overall closed sales decreased 7%.
Closed sales of condominiums from $1 million to $2 million increased 80%.
Closed sales of single-family homes in the $300,000 to $500,000 category increased 21%.
Overall median closed price increased 6%.
The Naples area real estate report for October shows a six-month worth of inventory, which make an healthy level of choice for buyers. The increase in days on the market (+15%) has been affected by some overpriced properties and shows that sellers must price their properties in a more realistic way in today’s market.
Summer activity indicates a promising season. The Naples Area Board of Realtors®) (NABOR®)) a just released the market report for residential real estate in the Naples area for August 2016. The housing market’s momentum continues to remain strong heading into fall. 2015 was an extremely active year leading to a very limited inventory in all areas, making difficult for buyers to find a home of their choice. Now, buyers who were in stand-by mode by lack of inventory will be pleased to see an increase in homes for sale (even if builders have been added new homes into the MLS) meaning more opportunities to buy.
The NABOR® August 2016 Market Report provides comparisons of single-family home
and condominium sales (via the Southwest Florida MLS), price ranges, and geographic
segmentation and includes an overall market summary. The NABOR® August 2016
sales statistics are presented in chart format, including these overall (single-family and