Hello from Naples!
Here’s an insightful story:
A man sat at a metro station in Washington DC and started to play the violin; it was a cold January morning. He played six Bach pieces for about 45 minutes. During that time, since it was rush hour, it was calculated that thousands of people went through the station, most of them on their way to work.
Three minutes went by and a middle-aged man noticed there was musician playing. He slowed his pace and stopped for a few seconds and then hurried up to meet his schedule. A minute later, the violinist received his first dollar tip: a woman threw the money in the till and without stopping continued to walk. A few minutes later, someone leaned against the wall to listen to him, but the man looked at his watch and started to walk again. Clearly he was late for work.
The one who paid the most attention was a 3-year-old boy. His mother tagged him along, hurried but the kid stopped to look at the violinist. Finally the mother pushed hard and the child continued to walk turning his head all the time. Several other children repeated this action. All the parents, without exception, forced them to move on.
In the 45 minutes the musician played, only 6 people stopped and stayed for a while. About 20 gave him money but continued to walk their normal pace. He collected $32.00 When he finished playing and silence took over, no one noticed it. No one applauded, nor was there any recognition.
No one knew this but the violinist was Joshua Bell, one of the best musicians in the world. He played one of the most intricate pieces ever written with a violin worth $3,500,000 dollars.
Two days before his playing in the subway, Joshua Bell sold out at a theater in Boston and the seats average $100.
This is a real story. Joshua Bell playing incognito in the metro station was organized by the Washington Post as part of a social experiment about perception, taste and priorities of people. The outlines were: in a commonplace environment at an inappropriate hour: Do we perceive beauty? Do we stop to appreciate it? Do we recognize the talent in an unexpected context?
One of the possible conclusions from this experience could be: If we do not have a moment to stop and listen to one of the best musicians in the world playing the best music ever written, how many other things are we missing.
Here’s an interesting article from the Naples Daily News:
Beachfront Mansion Sets a Record-Breaking $48.8 Million in Naples
Southwest Florida’s most expensive listing has sold – again – this time breaking the record as the priciest home sale in Collier County’s history.
The beachfront mansion, with 9,394 square feet of space, in the Port Royal neighborhood of Naples, was sold June 20 for a record-breaking $48.8 million. The home, at 2500 Gordon Drive, was listed at $60.9 million.
A confidentiality agreement protects the identities of the seller and buyer, as well as details of the transaction. “Honoring our client’s request for confidentiality, I’ll merely state that a sale of this magnitude is evidence of the desirability and strength of Naples’ ultra-luxury market,” said Elise Ramer, spokesperson for the buyer. In 2007, software mogul Art Allen purchased the six-bedroom, nine-bathroom home from Miles C. Collier, grandson of the county’s founder, for $40 million.
“Paradise Coast Wives,” a reality show that goes behind-the-scenes of women who live in some of the most exclusive and wealthy neighborhoods, was once filmed in Naples. Allen’s wife, Carole, was on the show and in one episode entertained cast members by the pool, including Shemane Nugent, wife of singer Ted Nugent, and Leanne Thrasher Chang, a former Naples High School star athlete who became a top model.
In 2015, the home was sold for $45.6 million to a buyer listed as 2500 Gordon LLC. Mark Price, an attorney with Roetzel and Andress in Naples, represented the limited liability corporation.
According to Collier County public records, the latest buyer is listed as Kevin G. Coleman, a trustee of the 2500 Gordon Land Trust. Coleman is a shareholder and founding member of Coleman Yovanovich Koester, a Florida-based law firm. Coleman is not the actual buyer but is a trustee who set up the trust for the buyers, whose names have not been disclosed.
Just a half-mile north, a five-bedroom, six-bathroom mansion at 3100 Gordon Drive previously set the record for the most expensive sale in the region in 2012 when it was sold for $47.25 million to industrialist Randal Bellestri. Two years later, Bellestri’s estate went back on the market for a record-setting $68 million when he was sentenced to one year and one day in federal prison for tax evasion charges after failing to report millions in income derived from the sale of scrap metal. Since 2014, the 3100 estate went off the market. It reappeared on the multiple listing service Wednesday at $49.5 million.
The estate at 2500 Gordon Drive has not been just a quiet retreat for generations of family members. It also has welcomed presidents and dignitaries over the past 80 years, as well as grand charity events that have supported many area nonprofit organizations.
Some highlights from its 81-year history:
1937 – William B. Uihlein and his wife Melitta Uihlein purchased the property in 1937. Uihlein was chairman of the Schlitz Brewing Co. The original beachfront estate featured nine beds, 12 baths and a five-car garage. The property also included a guesthouse and servants’ quarters.
1965 – Southwest Florida developer and philanthropist Raymond L. Lutgert purchased the home. The Lutgert Cos. are well known in Collier County, with projects such as the Estuary at Grey Oaks, Mercato, the Promenade and the Northern Trust Building.
1981 – The Collier family acquired the beachfront estate. The original 1937 house was in bad shape and the family decided to start from scratch. They demolished the original home and built a new home that still stands today.
2007 – Arthur Allen, founder of ASG Technologies, purchased the home for $40 million. During his time living at the beachfront estate, reality TV show “Paradise Coast Wives” was filmed there on occasion, with Allen’s wife being one of the stars.
2015 – The estate was acquired by 2500 Gordon LLC for $45.6 million. The identity of the owner has not been disclosed.
2018 – 2500 Gordon Land Trust purchased the home for $48.8 million. The identity of the owner has not been disclosed.
Official June 2018 Climate Data at Naples Airport:
|June 17||YTD 17||June 18||YTD 18||Normal YTD|
|Rainfall in inches||4.91||10.54||4.96||13.56||20.67|
|Record High June Rainfall||21.28 (2005)|
|Record Low June Rainfall||0.91 (1980)|
|High June Temperature||93||96|
|Low June Temperature||71||73|
|Record High June Temperature||98 (1985)|
|Record Low June Temperature||61 (1955)|
Temperatures in June were a little warmer than normal for the month. The average max temperature in June is 89.9…we recorded 90.8. Big rains didn’t materialize in June. Reported rainfall in Naples was almost 4 inches less than normal. This means we now have a shortfall of just over 7 inches.
Book Review: “The Dark Room” by Jonathan Moore
“FPD homicide inspector Gavin Cain is waiting for a casket to be opened: the department has received credible evidence that there is something wrong with it. He is abruptly pulled off the case: the mayor has ordered him to come to City Hall –now.”
This well written crime tale is a detective story in subject. Moore (The Poison Artist, 2015) has succeeded better than anyone I have read recently in capturing not only the police detective’s procedures but his mindset: keep the crime scene intact, don’t plunge in, attend to detail, document everything, maintain unbroken chain of custody –above all, tell no one anything you don’t have to tell them because facts leak and leaks pollute.
I enjoyed this dark mystery, and I must admit that right down to the last pages, I hadn’t figured out who the bad guys were. Or should I say “worst” guys = perpetrators of the crime. Surprising ending!
This was my first Jonathan Moore, so I’ll be happily getting ahold of his others. It was a darn good read!
Restaurant Recommendation: Omei China Bistro, Naples Boulevard
We love Asian food and Omei is another great one. It’s a small place in a strip mall off Naples Boulevard so it’s easy to find and parking is no problem. We ate there with friends last week. For vegetarian and vegan dining, Asian restaurants usually work very well and this place is no exception. Omei says it’s the only place in Naples to serve authentic Peking Duck.
Here are a few recent reviews from Trip Advisor:
“If you are going, make sure to order the Peking Duck when you make your reservations, it is as good as it looks. But if you forget the Crispy Duck is a great alternative. All of the dumplings are great, but the Shuma and Soup Dumplings are our favorite. Our favorite entrees are the Pan Fried Noodles, Mongolian Beef, Eggplant and the house Fillet Mignon is unusually delicious – and yes in a Chinese Restaurant.”
“The new location is much nicer and smaller than the last one. The food is just amazing. White table cloths set the ambiance. I go for Peking Duck, drop down the best in southwest Florida. Delicate spring rolls, perfectly cooked pot stickers and Peking Duck made for an excellent evening. Take the time to find this gem!”
“We went to Omei and decided to stay for dinner instead of taking out. It was nice because it was not crowded and the restaurant was very cool. There were four of us so we ordered family style meaning we shared two main dishes and two appetizers. We started with vegetable spring rolls and pork dumplings, which were delicious. Our main courses were General Tso’s chicken and Beef and Broccoli. The food, the tea and the service were all very good. And the fortune cookies made us giggle.”
Naples Real Estate: Here are the June 2018 Naples/Bonita market statistics.
For the first six months of 2018, there were 7,255 closed sales of existing homes in all of Naples and Bonita. This compares with 7,261 closed sales for last year. This continues the pattern of close to an identical year-to-year number for existing home sales. Sales in 2018 were virtually unchanged from last year.
Here’s an interesting chart comparing January thru June of 2018 to last year:
|Closed Sales||Total||Under $300,000||$300,000 to $700,000||$700,001 to $1,000,000||$1,000,001 to $3,000,000||Over $3,000,000|
It’s interesting to see what happened in each category. Clearly, the high-end market is doing much better than the lower end on a year-to-year basis.
As of July 3rdthere were 6,770 homes available for sale. As the following table shows, the level of inventory varies dramatically by price point:
|Naples Home Inventory As of July 3, 2018||Total||Under $300,000||$300,000 to $700,000||$700,001 to $1,000,000||$1,000,001 to $3,000,000||Over $3,000,000|
|Number Sold Last 12 months||12,336||5,453||4,832||724||1,080||247|
|Average Number Sold per Month||1,028||454||403||60||90||21|
|Total Available for Sale||6,770||2,190||2,922||542||823||292|
|Months of Supply as of July 3, 2018||7||5||7||9||9||14|
The inventory levels decreased about 4% from last month to 6,770 properties. This was the fourth monthly decline in a row. This is a fairly low number for existing homes. For comparison, the high point of available existing home inventory was June of 2007 when there were 11,601 listed in the MLS system for Naples and Bonita! Also keep in mind, however, that a significant number of new homes are not included in this number. That’s because they are brand new homes being sold by developers and are not included in the MLS totals.
It is still a buyer’s market for existing homes priced above $300,000. In the over $3 million market, for example, there are 292 properties available. During the last 12 months, 247 properties in this price range have sold…which means an average of about 21 per month. At that rate, the 292 homes available represent about 14 months of supply.
Sellers in the upper price categories are in a highly competitive environment and the median sales price has leveled off in Naples. Which means there are many good buys available in the secondary market.
Another market factor is the supply of new homes that are now being built or permitted. There are many new home developments that are being built or are in the planning stages right now. If you are looking to buy, we can help guide you through the maze of new home availability. If you are planning to sell, you need to know details of the new competition you are facing.
Kensington Real Estate:
Kensington is the community where Rae and Fred live. As of July 3rd, 2018 there were 32 active listings in Kensington.
|Type of Property||Number||Lowest Price||Highest Price||Average Price per sq. ft.||Avg. Days on Mkt.|
There have been 38 closed sales in the past 12-month period. At this average selling rate of 3 properties per month, the 32 homes listed represent about 10 months of inventory on average. The number of homes available is 5 fewer than last month and it is definitely a buyers’ market for those available. There is currently 1 sale pending and 2 sales pending with a contingency in Kensington.
Riverstone Real Estate:
Riverstone is the community where Jeff and Nicola live. These statistics are taken from the MLS system we use in Naples. Riverstone has now been fully built out and turned over to the residents by the developer, GL Homes. Here’s a look at the MLS market in Riverstone as of July 3, 2018:
|Property||Number for Sale||Lowest Price||Highest Price||Avg. Asking Price Per Sq. Ft.||Avg. Days on Market|
Here’s a breakdown of what’s currently on the market thru MLS:
|$400,000 to $499,999||$500,000 to $599,999||$600,000 to $699,999||$700,000 to $799,999||$800,000 and Over|
|Number for Sale||3||7||7||5||3|
|Average Price per Sq. Ft.||$219||$208||$233||$239||$251|
|Average Number of Days on Market||205||74||108||122||88|
Available inventory is 2 more than last month. As of July 3rd there were 25 active listings,3 pending sales and 2 pending sales with contingencies. The MLS system lists 49 homes sold in the last 12 months which means there is about 6 months of inventory currently in Riverstone.
Give us a call if we can help with any real estate questions you have at 239-398-0028 (Rae) or 239-451-9351 (Nicola).
Rae & Nicola