Hello from Naples!
In May we celebrated Mother’s Day. Nicola kicked off the weekend with a Saturday trip to the Woodhouse Day Spa to enjoy a facial, massage and pedicure. The spa offered special treats for moms in their waiting room. If you are looking for a great spa in Naples, you can’t go wrong with Woodhouse. Then on Sunday, Rae, Nicola, Fred and Riley enjoyed brunch at Kensington Golf and Country Club’s new outdoor dining facility called Brighton Pointe. Then all were excited when Nicola’s husband Jeff and oldest daughter Natalie arrived in town after driving from Memphis, TN to bring Natalie home from her first year at Rhodes College. It was a great Mother’s Day gift to have the whole family back together again! If you are a mom, we hope you also enjoyed a great Mother’s Day.
Here’s an Interesting Article from the Naples Daily News: Developer chooses a five-star resort to operate the Naples Beach Club Hotel
The secret is out. Naples could soon boast a five-star Four Seasons resort. While Four Seasons Hotels & Resorts hasn’t publicly announced its interest yet, The Athens Group has confirmed it has a letter of intent for the world-renowned brand to operate the five-star resort that will replace the landmark Naples Beach Hotel.
“Four Seasons’ destination resort hotels and residences are unsurpassed, and we believe this unique location in Naples deserves nothing less,” said Kim Richards, CEO of The Athens Group, in a statement.
“While the operating agreement is still in development, Four Seasons shares Athens’ vision for creating exceptional experiences for our resort guests and residents, as well as our Naples neighbors,” he said.
The revelation comes as The Athens Group’s purchase of the current hotel draws near. The closing on the entire 125-acre property, including the golf course and tennis center, is set for the end of May.
The developer plans to replace the current hotel with a smaller, more upscale resort, and to build what it has described as “best-in-class” residential condos on both sides of Gulf Shore Boulevard, with elevated amenities that will include golf and tennis.
While Four Seasons is expected to service the residences at the new Naples Beach Club development, The Athens Group has not yet confirmed whether they’ll carry the same brand as the resort. According to its website, Four Seasons entered into branded residential offerings more than 35 years ago — and “nearly 90% of upcoming openings and pipeline developments include a residential component.” Four Seasons is one of only a few hospitality companies that also acts as a property manager for its residential owners.
The brand’s interest in Naples comes as welcome news to community supporters of the redevelopment project, first announced back in 2018. “They can only improve the dynamic of the hospitality industry, as well as the neighborhood. I see it only as a positive. I see absolutely zero negative to that whatsoever,” said Joe McCabe, vice president of development at Gulf Coast Commercial Corp. in Naples. He said a Four Seasons resort would go hand-in-hand with recent and planned improvements to the area’s two Ritz-Carlton’s, designed to take both properties up a notch, and high-end hoteliers he’s talked to in town aren’t worried about the new competition. He likened the situation to a CVS locating near a Walgreens. Rather than cannibalizing each other’s business, the high-end resorts can feed off each other, generating more economic benefits for the local economy, as competing pharmacies do, McCabe said.”It’s all responsible development, tailored to a higher-end feel. That’s my opinion,” he said.
City leaders reached for this story see the planned involvement of Four Seasons as good news too. Terry Hutchison, the city’s vice mayor, said it would be “a very good sign for the Naples community.” “The Four Seasons brand is a very well-known brand worldwide, a respected brand, and something I’m sure Naples would be proud to have in the community,” he said. “When you look at how Four Seasons has maintained their brand and the amenities — and the execution of their operations — it’s nothing but good.” He commended the developer’s efforts to continue working with the community to address ongoing concerns about some of the project’s finer details that have yet to be worked out, including proposed changes to the golf course and green space The Athens Group has committed to preserve.
“I think that these guys are serious about putting together a five-star resort, and a project that will be a star for the city of Naples,” Hutchison said. “And probably the last remaining issue now, the biggest issue, is the golf course, and what the outcome will be, for that piece of property.”
Like Hutchison, fellow Councilman Gary Price said Naples would be fortunate to attract another high-end brand such as Four Seasons. “If Four Seasons is the brand, then I think that is a wonderful message to this community that I think we can be proud of,” he said. “Having the ability to attract such a terrific brand, a quality brand.”
While a Four Seasons may not have as profound of an effect on tourism and real estate as the opening of the first Ritz-Carlton in the Naples area decades ago, Price said a Four Seasons has the potential to draw new attention and new interest from the affluent around the world.
Official May 2021 Climate Data at Naples Airport:
May 2020 |
YTD 2020 |
May 2021 |
YTD 2021 |
Normal YTD |
|
Rainfall in inches |
5.71 |
11.06 |
1.67 |
4.26 |
11.45 |
Record High May Rainfall |
11.49 (1946) |
||||
Record Low May Rainfall |
0.10 (2001) |
||||
High May Temperature |
94 |
94 |
|||
Low May Temperature |
62 |
65 |
|||
Record High May Temperature |
96 (2011) |
||||
Record Low May Temperature |
51 (2001) |
Temperatures in May were just about normal for the month. The normal average max temperature in May is 87.5 and we recorded 89.3. Rainfall was well below normal again in May, the lakes and ponds around Naples are looking low. June continues the rainy season, so let’s hope for a few downpours. We’re over seven inches behind through May.
Book Review: “Facing the Mountain” by Daniel James Brown
Much like the author’s other book, The Boys in the Boat, this book is thoroughly researched, well-written, and hard to put down. Like the Boys in the Boat, the author focuses on several real people, bringing them to life with striking detail. But this book covers a much more intense topic…the sad mistreatment of Japanese Americans during WW2. It tells of the incredible heroism of so many fighting in the War despite the mistreatment of their families back home.
Seen through today’s lens, the internments seem unthinkable. The portrayal of experiences in the war are so vivid, the reader at times will have to look away. But this book is more than just history. It contains lessons relevant today, with the ever-present prejudice that makes people see individuals as a group instead of as distinct personalities. This is an important book both to remember but also to learn from.
Here are a few reviews on Amazon:
“A wonderful read on the role of brave American Japanese soldiers and families in WWII. Details of battle strategy and weapons that I did not appreciate. And behind it all are the families in Hawaii and the mainland that saw their sons go off to war during a period of Asian hatred. Daniel Brown has captured both stories with wonderful, detailed writing. Couldn’t put it down and won’t forget it. Kudos also to the oral history project that found and recorded the brave warriors.”
“Daniel Brown is a master storyteller. He took a highly complex episode in American history and painted an exquisite masterpiece. He artfully draws you into the personal lives of our war heroes then guides you on a gut-wrenching journey through the horrific battlefields in Europe. A truly humbling & surreal experience. How these war heroes endured, persevered & succeeded during & after WWII is almost impossible to comprehend. This is one of those rare books that comes around once in your life and makes you appreciate the life we live today.”
“As a former army chaplain and combat veteran, I know understand more deeply the struggles my family went through. I want to thank the author for including the chaplains and their experiences. As a sansei, I grew up with the stories of the Issei and Nisei, but this book gave me new insights and things to ponder.”
Restaurant Recommendation: Truluck’s 698 4th Ave. South
The family went to Truluck’s last week for Fred’s birthday. It was topnotch as usual! The table was sprinkled with birthday decorations and we were served a complimentary baked Alaska for dessert.
Truluck’s is a classic big-city seafood and steak restaurant so we feel thankful to have one in our little town of Naples. Everything about Truluck’s reminds you of big city—white tablecloths, dark wood furnishings, a popular and sophisticated bar, nightly entertainment, and even a grand piano in the corner. Here’s a hint: there’s a dress code notice on their website: no tank tops, short shorts, or flip flops, and take your hat off when you enter. If you can manage that, it’s the perfect spot for a fantastic dinner, particularly for a special occasion. It’s loud, bright and bustling and no matter what day or what season, it is always busy, despite its rather hidden location at the back of Sugden Plaza on Fifth Avenue South.
Here are a few reviews from Trip Advisor:
“Lobster. Yes, the South African lobster brought us back and did not disappoint. Paired it up this time with crab fried rice. My wife and I split that and did not leave a morsel. My birthday, we were surprised to get a Baked Alaska. Delicious from beginning to end. Piano entertainment blends well with the atmosphere.”
“We ate here for our anniversary dinner. While a lot of restaurants have great food and service, few live up to Truluck’s. We were immediately seated at a table sprinkled with rose petals, and introduced to Jay. We got to enjoy Stone Crab Claws on the last day of the season and ate every morsel of every course. Beyond the food was the amazing service. It is very hard to be that attentive and unobtrusive, but they nailed it. Thank you for a fabulous anniversary dinner. We will be back”
Naples Real Estate: Here are the May 2021 Naples/Bonita market statistics.
For the first five months of 2021, there were 10,472 closed sales in all of Naples and Bonita. This compares with 5,729 closed sales for the same period last year. Sales have continued to surge into the spring and show no sign of slowing down. YTD home sales are up 83% from last year.
Here’s an interesting table comparing the first five months of 2021 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 |
YTD May 2020 |
5,729 |
2,288 |
2,425 |
381 |
499 |
136 |
YTD May 2021 |
10,472 |
3,235 |
4,652 |
948 |
1,260 |
377 |
Difference |
+4,743 |
+810 |
+2,227 |
+567 |
+761 |
+241 |
% Change |
+83% |
+35% |
+92% |
+149% |
+153% |
+177% |
Every category we measure is significantly ahead of last year at the end of May. Naples real estate sales continue to be strong. Realtors in Naples are saying they’ve never seen a market like this one. It’s an extreme seller’s market.
The inventory of available property remains down from last year and continues to decrease. As the following table shows, however, the level of resale inventory varies by price point:
Naples Home Supply as of June 4, 2021 |
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 |
21,411 |
6,931 |
9,609 |
1,761 |
2,410 |
700 |
Average Number Sold per Month |
1,784 |
578 |
800 |
147 |
201 |
58 |
Total Available for Sale |
1,171 |
222 |
442 |
127 |
235 |
145 |
Months of Supply June 4, 2021 |
<1 |
<1 |
<1 |
<1 |
1 |
3 |
We saw housing inventory fall again this month, falling by 8% to 1,171 homes. The supply of homes has declined every month since last July. Currently, the average monthly supply is less than 1 month. It is hard to believe how little inventory we have in Naples. This is the lowest number in more than 20 years. Most Realtors consider that a six-month supply of homes is neither a buyers’ nor sellers’ market, so this is truly a sellers’ market. For comparison, the high point of available existing home inventory was June 2007 when there were 11,601 listed in the MLS system for Naples and Bonita!
Kensington Real Estate: Kensington is the golf course community where Rae and Fred live. Golf and Social memberships are available at Kensington, although none is required to buy here. Golf memberships have sold well this year and there is now a waiting list for membership. As of June 4, 2021, there are only 2 active listings in Kensington. This is 1 less than last month and the lowest number anyone here can remember. Here’s a look at the MLS market in Kensington as of June 4, 2021:
Type of Property |
Number |
Lowest Price |
Highest Price |
Average Price per Sq. Ft. |
Avg. Days on Mkt. |
Estate Homes |
1 |
$1,350,000 |
$1,350,000 |
$409 |
4 |
Villas |
0 |
NA |
NA |
NA |
NA |
Coach Homes |
1 |
$510,000 |
$510,000 |
$236 |
40 |
Total |
2 |
There have been 60 closed sales in the past 12-month period. At this average selling rate of 5 properties per month, the 2 homes listed represent less than 1 month of inventory on average. Kensington is a seller’s market. There is 1 Estate Home and only 1 Coach Home on the market. As of June 4, 2021, there are 2 sales pending and there are 3 sales pending with contingencies at Kensington.
Riverstone Real Estate:
Riverstone is the community where Jeff and Nicola live. Riverstone has numerous amenities available for residents to enjoy. You can spend days swimming and relaxing at the community resort-style pool, playing tennis, taking a fitness class or socializing in the community’s private clubhouse. Here’s a look at the MLS market in Riverstone as of June 4, 2021:
Property |
Number for Sale |
Lowest Price |
Highest Price |
Avg. Asking Price Per Sq. Ft. |
Avg. Days on Market |
Riverstone |
2 |
$1,375,000 |
$1,550,000 |
$326 |
23 |
Here’s a breakdown of what’s currently on the market in MLS:
|
|
$500,000 to $599,999 |
$600,000 to $699,999 |
$700,000 to $799,999 |
$800,000 to $899,999 |
$900,000 and Over |
Number for Sale |
0 |
0 |
0 |
0 |
2 |
Average Price per Sq. Ft. |
NA |
NA |
NA |
NA |
$326 |
Average Days on Market |
NA |
NA |
NA |
NA |
22 |
Available inventory is 1 less than last month. As of June 4, there were 2 active listings, 9 pending sales and 12 pending sales with contingencies. The MLS system lists 97 homes sold in the last 12 months. With average monthly sales at 8, this means that there is less than one month of inventory at Riverstone. A sellers’ market, for sure.
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).