Hello from Naples!
In April Nicola celebrated her birthday with a few girlfriends at the unlimited Sunday brunch at Sails on 5th Ave in downtown Naples. From the moment they were greeted with champagne flutes to the last sip of cappuccino, the entire experience was top notch! They felt like royalty. The restaurant’s attention to detail is unsurpassed, they even have little leather stands for your pocket books and provide pashminas if the weather is chilly. Their server suggested they enjoy the brunch family style which was a fantastic recommendation for a group of girlfriends who wanted to try a little of everything. Not one bad dish was served. Everything was absolutely delicious but some of the top favorites were the smoked salmon and potatoes, the crab and avocado, the oysters, the grilled fish, the prawns, the french toast and the bread pudding. Of course, the unlimited drinks were certainly appreciated. If you are looking to be pampered by a friendly, welcoming staff and are ready for a truly luxurious experience then you cannot go wrong with brunch at Sails.
Also in April, the family was able to celebrate Easter all together as Natalie came home for the weekend from Rhodes College. Rae and Fred met Nic, Jeff and the kids at North Naples Church for their beautiful Easter service and then all went back to Nic and Jeff’s home for Easter dinner. It was a wonderful celebration made even more special because everyone was home.
From Florida Weekly: Hertz Arena reports bookings on the rise
A quick glance at the Hertz Arena events calendar reveals highly anticipated shows with Luke Bryan, Greta Van Fleet, Dierks Bentley, Brooks & Dunn, Ricardo Arjona, Daddy Yankee and more. With 19 concerts on the books for Hertz Arena over the next seven months, the arena and the market are quickly emerging as a “must-play” in South Florida.
Pitbull announced on April 11 that he is bringing his “Can’t Stop Us Now” tour to Hertz Arena on Saturday, Oct. 15.
“We see an even brighter future here at Hertz Arena,” said Scott Bryant, general manager, Hertz Arena. “Our aggressive approach and partnership with OVG360 have helped enhance our visibility in the live touring space. OVG360 is an experienced team with extensive resources, contacts, and knowledge of our industry that have significantly helped us increase our live event bookings here in Southwest Florida.”
KTB Florida Sports Arena, LLC, owners of Hertz Arena, entered a long-term partnership with OVG360 to increase bookings at the 7,200-seat multi-purpose sports and entertainment venue in September 2021.
“Estero is a very viable market for live entertainment and we’re certainly seeing an uptick in the number of Latin Music shows coming to Hertz Arena,” added Mr. Bryant. “As a result of some of the quick sell outs of some of our recently announced shows, we know the region is excited for live music and will continue to support the ever-increasing number of concerts at Hertz Arena.”
The Arena, since it was purchased by David and Jerri Hoffmann in August of 2019, has undergone extensive renovations. Hertz Arena includes 24 luxury suites, Breakaway Sports Pub, the Hertz #1 Club, multiple concessions, catering options, meeting space, a pro shop and two adjacent recreational rinks. David Hoffmann recently made the Forbes’s list as one of the world’s richest people in the world and has achieved billionaire status. Mr. Bryant states that Dave and Jerri Hoffmann are committed to continually improving every area of the arena.
Official April 2022 Climate Data at Naples Airport:
April 2021 |
YTD 2021 |
April 2022 |
YTD 2022 |
Normal YTD |
|
Rainfall in Inches |
1.67 |
3.25 |
1.44 |
2.98 |
7.48 |
Record High April Rainfall |
7.73 (1997) |
||||
Record Low April Rainfall |
0.00 (1970) |
||||
High April Temperature |
90 |
91 |
|||
Low April Temperature |
51 |
52 |
|||
Record High April Temperature |
95 (1965) |
||||
Record Low April Temperature |
39 (1971) |
Temperatures in April averaged above normal for the month. The normal average max temperature in April is 83.8 and we recorded 87.0. Rainfall was below normal again in April, so we now have a rain deficit of 4.5 inches.
Book Review: “Cathedral” by Nelson DeMille
This book was written in 1981. I was looking for a good read, and have always admired Nelson DeMille’s books, so I checked the list of his books and saw that I hadn’t read this one. I’m glad I did! Cathedral is a thrilling story of Irish terrorists and their plot to blow up St. Patrick’s cathedral on St. Patrick’s Day. All the action takes place within a 24-hour period, with the explosion set for dawn on March 18th. As one would expect, numerous political characters step into the planning by police to manipulate the outcome to their favor. The hostages – the Archbishop of New York, one of his priests, a former Irish rebel turned peacemaker and a representative of the British government are joined by the largest hostage of them all, the beautiful and enormous cathedral and its adjacent structures. The Terrorists want to make a statement, officials want to save face, a government conspiracy complicates matters, and a hero prevails. As usual, DeMille provides suspense, action, and romance, pretty much non-stop. If you haven’t read DeMille, this will be a good introduction; if you have already been introduced to him and missed this old-timer, give it a go. I’m pretty sure you’ll enjoy the experience.
Here are a few reviews from Amazon:
“This is my second book by this author, and I am definitely a fan. His writing is so detailed and descriptive that you feel like you are a part of the action. The final portion was so intense I had to keep reminding myself to breathe.”
“This is another exciting, well-written thriller by the author. In this one, the struggles of Northern Ireland are featured, and the writing is exceptional. Suspenseful, with an intricate plot and well-fleshed characters, this book will keep the reader riveted until the very last page is turned.”
“As always, Nelson DeMille delivers a tale of epic history. The IRA and a long-held grudge with the English erupts into a full-fledged assault on NYC famous cathedral. Good story lines, great characters.
Restaurant Recommendation: Trattoria Abruzzo 2359 Vanderbilt Beach Rd.
We ate here last week, arriving during a rainstorm. The food and décor provided welcome comfort on a rainy Friday night. We sat at the bar and were completely entertained by a very busy bartender who poured a mean martini…we couldn’t believe how many he made in the hour and a half we were sitting there. It was by far the most popular drink in the house. We started with a burrata salad and entrees included a massive plate of chicken parmesan, eggplant rollatini and pizza from their wood-fired pizza oven. Everything was fresh and delicious. With the location being so convenient, we will certainly return.
Here are a few recent reviews from Trip Advisor:
“The pasta is so fresh. We had excellent service along with a very nice environment. Very authentic Italian. Salad was large so we split one. Make sure to order different entrees so that you try different dishes”
“My wife’s linguine with clams was exceptional, made with fresh baby clams and hand-made pasta that was light and fluffy. The Veal Toscana was equally delicious, served with fresh vegetables. Service was attentive but not rushed.”
“It’s fair to say that I’m not easily impressed, but the food was excellent! I don’t usually like lobster (it’s usually over cooked), but it was superb! And the rib eye was great as well. The atmosphere was lovely and the service was great. Staff was very friendly. Will definitely be back.”
Naples Real Estate: Here are the April 2022 Naples/Bonita market statistics.
For the first four months of 2022, there were 5,574 closed home sales in all of Naples and Bonita. This compares with 8,501 closed sales for the same period last year. The sales pace has slowed this year primarily due to lack of homes available. For the first four months of 2022 sales are down 34% from last year.
Here’s an interesting table comparing 2022 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 April 2021 |
8,501 |
2,671 |
3,788 |
739 |
1,006 |
297 |
YTD April 2022 |
5,574 |
633 |
2,922 |
898 |
878 |
243 |
Difference |
-2,927 |
-2,038 |
-866 |
+159 |
-128 |
-54 |
% Change |
-34% |
-76% |
-23% |
+22% |
-13% |
-18% |
Every category we measure except one is behind last year for the first four months of 2022. The major declines are in the under $700,000 categories mainly because there isn’t much inventory at this price. The “Under $300,000” category down 76% is a prime example.
The inventory of available property remains down from last year. As the following table shows, however, the level of inventory varies by price point:
Naples Home Supply as of May 6, 2022 |
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 |
18,154 |
3,397 |
9,381 |
2,320 |
2,415 |
641 |
Average Number Sold per Month |
1,513 |
283 |
782 |
194 |
201 |
53 |
Total Available for Sale |
1,745 |
127 |
670 |
306 |
418 |
224 |
Months of Supply May 6, 2022 |
<1 |
<1 |
<1 |
2 |
2 |
4 |
Inventory rose 22% last month to 1,745 homes. This is the largest monthly increase in some time and the third monthly increase in a row. Average monthly supply is one month or less except the more expensive categories. Inventory of existing homes is still at an extremely low level. 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 of 2007 when there were 11,601 listed in the MLS system for Naples and Bonita!
It will be interesting to see what role inflation and the Fed’s attempt to curtail it by raising interest rates will have on the market going forward. A significant percentage of homes purchased in Naples are cash deals, mitigating some of this factor.
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 the first time in the history of the club. As of May 6, 2022, there are two active listings in Kensington. Here’s a look at the MLS market in Kensington as of May 6, 2022:
Type of Property |
Number |
Lowest Price |
Highest Price |
Average Price per Sq. Ft. |
Avg. Days on Mkt. |
Estate Homes |
0 |
NA |
NA |
NA |
NA |
Villas |
2 |
$850,000 |
$1,899,900 |
$403 |
27 |
Coach Homes |
0 |
NA |
NA |
NA |
NA |
Total |
2 |
There have been 38 closed sales in the past 12-month period. With average monthly sales at 3.17, this means that there is less than one month of inventory at Kensington. Also as of May 6, there are 6 sales pending and 1 sale 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 May 6, 2022:
Property |
Number for Sale |
Lowest Price |
Highest Price |
Avg. Asking Price Per Sq. Ft. |
Avg. Days on Market |
Riverstone |
2 |
$1,375,000 |
$1,500,000 |
$447 |
9 |
Available inventory is the same number as last month. As of May 6, there are 2 active listings, 5 pending sales and 1 pending sale with contingencies. The MLS system lists 73 homes sold in the last 12 months. With average monthly sales at 6.08, this means that there is less than one month of inventory at Riverstone.
Give us a call if we can help with any real estate questions you have.