Naples – Port Royal Home Sells for $48.8 Million

A magnificent beachfront home sold for a breaking record of $48.8 million in Port Royal, Naples.
The 10,000+ square foot house built in 1994 is located at 2500 Gordon Drive , features 6+ bedrooms, garages for 9 cars and sits on more than a 5-acre beachfront homesite.
The previous record was held by a mansion at 3100 Gordon Dr which sold for $47.25 million in 2012.
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Long-Term Mortgage Rates Fall – 30-year at 4.57%

WASHINGTON (AP) – June 21, 2018 – Long-term U.S. mortgage rates fell this week, marking their third decline in the past four weeks after increasing last week.

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages was 4.57 percent, down from 4.62 percent last week. By contrast, the 30-year rate averaged 3.90 percent a year ago.

The average rate on 15-year, fixed-rate loans eased to 4.04 percent from 4.07 percent last week.
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Florida Real Estate Market: Sales, Median Prices Up in May

ORLANDO, Fla. – June 20, 2018 – In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell, according to the latest housing data released by Florida Realtors®.

“Strong demand from buyers, coupled with a lack of for-sale inventory, continues to have an impact on rising median prices in many local housing markets,”. “Home sellers continued to get more of their original asking price at the closing table. Sellers of existing single-family homes in May received 96.7 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 95.1 percent (median percentage).

“However, it appears that our tight inventory may be easing slightly: New listings for single-family homes in May rose 4.8 percent year-over-year, while new townhouse-condo listings increased 6 percent. If the trend continues, that could mean good news for buyers who have been waiting on the sidelines.”
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Home flipping slows in 55% of U.S. markets

IRVINE, Calif. – June 7, 2018 – ATTOM Data Solutions’ Q1 2018 U.S. Home Flipping Report finds that 48,457 U.S. single family homes and condos were flipped in the first quarter of 2018 – a 4 percent drop quarter-to-quarter and 3 percent drop year-to-year.

In Florida, the number of homes flipped and profitability of those flips varied by metro area. In Miami, flipping was down 16 percent year-to-year, according to ATTOM, and down 13 percent in Tampa-St. Petersburg.
Florida also made ATTOM’s list based on the average number of days it takes to flip a home. On the fast-to-flip side, it took 99 days in Jacksonville. However, Naples – at 220 average days to flip a home – made the list of cities where flipping takes time.
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2017 storms have little impact on property insurance rates

TALLAHASSEE, Fla. – June 5, 2018 – There hasn’t been much good insurance news to report for Florida property owners over the past several years.

Premiums for most South Florida policyholders have increased significantly over the past three years – a result of claims abuses and sharp upticks in costly litigation for major insurance carriers. And those factors are expected to trigger rate hikes for most area property owners again this year.

But here’s a bright spot, such as it is: Your 2018 policy cost won’t increase as much as insurance executives had expected following $140 billion in catastrophe losses last year from events that included hurricanes Irma, Harvey and Maria, and wildfires in California.
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Naples Real Estate Market Report – April 2018

Click to View InfographicsInventory Keeping Spring Market Active 

Naples, Fla. (May 25, 2018) – According to the April 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), Collier County enjoys 7.76 months of inventory compared to a 4-month supply nationally. This is great news for Naples REALTORS® as they transition from a very busy high season to what broker analysts believe will be a very strong summer.
Here are the major points of this Naples real estate market report for April 2018:

  • Overall Pending Sales increased over 20% in the $1M+ categories 12-months ending 4/2018
  • Overall Closed Sales increased over 30% in the $1M+ categories 12-months ending 4/2018
  • Overall Median Closed Price increased 5% 12-months ending 4/2018
  • Overall Inventory decreased double digits in the $1M+ categories Apr 2017 to Apr 2018
  • Overall Average DOM decreased 27% in the $500K-$1M category Apr 2017 to Apr 2018

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View Complete Naples Real Estate Market Statistics – April 2018

Florida Real Estate Market – Sales, Median Prices, New Listings Up in April 2018

In April, Florida’s housing sector reported more closed sales, higher median prices and more new listings from owners ready to enter the market, according to the latest housing data released by Florida Realtors®.
View the detailed reports for Collier and Lee counties in the links below, showing a strong market with a continuous decrease of inventory and increase of selling price.

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Hammock Bay & Tarpon Bay, Naples FL – Two Attractive Foreclosures

We are offering you regular updates on properties in foreclosure in attractive locations in the Naples, Bonita Springs and Estero area. Today, two new foreclosures went on the market:

Call us if you need more information about these properties.
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Lennar makes voice recognition standard in new homes

Lennar, the nation’s largest homebuilder, announced a deal with Amazon that will make voice-activated digital assistants a standard feature in its new homes, as well as other smart devices. Going forward, its new homes will include built-in Wi-Fi, smart locks, doorbells, thermostats, and lights that can be controlled by Amazon’s voice-activated digital assistant, Alexa.
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Starbucks with Drive-Tru Coming Soon to Estero Grande – Estero

Estero Grande – Estero, Florida.

Starbucks is scheduled to be one of the new tenants opening at Estero Grande , a new upscale apartments community under construction in Estero, Florida. Starbucks will have an outdoor sitting and a Drive-Tru.
Estero Grande will be located at the west corner of US 41 and Estero Parkway.
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