The Wakelin Realty Team April 2018 Newsletter

Hello from Naples!

Rae and Fred went on another Jazz Cruise in March. The trip originated in Ft. Lauderdale, which makes the experience very simple because it’s a short drive to the cruise terminal and there is parking right next to it; then all that’s left to do is simply board the ship and cruise! The line-up of smooth jazz artists was fantastic…all well-known and best sellers in the genre. This was their fourth or fifth jazz cruise and it was one of the best. The destinations were all in the Caribbean, but they are secondary to the music. If you are into smooth jazz, you should definitely try one of these cruises. They have several each year and they sell out fast. This particular cruise sold out so fast that they added a second one…which also sold out. Rae and Fred are going on another one in August…a riverboat jazz cruise from Prague to Budapest. Stay tuned for details!

Spring Break for local Collier County School District kids also happened in March. So Nicola and Jeff decided to take their daughters’, Natalie and Riley, on a little get-a-way road trip. They drove from Naples through the middle of the state to Central Florida University so Natalie, who is a Sophomore, could take a tour of the campus. They were all impressed with this beautiful school right outside Orlando. After the tour they drove to their hotel in Daytona Beach. Much to their surprise, it was “Bike Week” in Daytona so thousands of biker’s from all over the country were in town. The next day they drove about an hour to St. Augustine, which is a fun, charming, historic town and they were surprised to learn it is actually the oldest continuously occupied European settlement in the United States. After a day of exploring it was back to Daytona and then out again the next day to visit the Kennedy Space Center. The space center was the highlight of their trip and they all were amazed to experience a tour of the launch pads, viewing the Shuttle Atlantis, having lunch with an astronaut and many more amazing things to see and do. They highly recommend a visit to the Kennedy Space Center!

 

Here’s an interesting article from the Naples Daily News:

Brent Batten: New Naples Council members heard voters; their colleagues, not so much. The three successful candidates in last month’s Naples City Council election got the message.But on Wednesday, it didn’t make a difference.

On the campaign trail, the candidates heard one demand — expressed in a variety of ways — more than any other: Keep density low; prevent overdevelopment; maintain Naples’ small city feel.

At Wednesday’s meeting the challenge was presented to the newly constituted council for the first time in a request to rezone a city block along the south side of U.S. 41 between 10th Street South and 11th Street South, east of the Four Corners.

The petitioners, represented by veteran land-use attorney John Passidomo, made a compelling case.

The property encompassing retail shops that burned in a tragic fire that claimed a life in 2015, and other buildings, are zoned under a commercial designation. The owners were seeking a change to a downtown zoning that would allow for greater lot coverage and potentially more than doubling the number of residential units allowed.

Doing so would effectively extend the “Fifth Avenue South” feel of the area, making it more pedestrian friendly and bringing the character of development in line with that of the properties across the street on the north side of U.S. 41.

The current zoning, calling for large, paved parking areas in front of the buildings, is a departure from the look the city strives for in its downtown development plans, Passidomo said. A planned, cohesive redevelopment of the parcel, coupled with the neighboring site of the old St. George and the Dragon restaurant owned by the same group, would link Fifth Avenue South to Naples Bay, he argued.

The move was approved by city’s staff and Planning Advisory Board. And by the City Council — unanimously — acting as the Community Redevelopment Agency board in April of 2017, before the 2018 campaign. Council woman Linda Penniman was in office in 2017 and joined in that approval. Then she campaigned for re-election. On Wednesday, she voted against the rezoning citing the redevelopment concerns she heard from voters. “We are hearing that consistently,” she said. Penniman worries greater lot coverage — up to 100 percent under the downtown zoning — will exacerbate already expensive drainage problems. The present zoning allows only 40 percent lot coverage on the three acres. “The density, intensity we’ve all agreed to, now it’s payback time,” Penniman said.

Gary Price and Terry Hutchison are the other two City Council members who won seats last month. They too voted against rezoning, citing the message from voters.

But it passed 4 to 3, with Mayor Bill Barnett and council members Reg Buxton, Michelle McLeod and Ellen Seigel voting in favor.

The split shows a disparity between long-held city plans and the concerns of residents.

On the one hand, a revitalization plan for the downtown area led to the rebirth of once-moribund Fifth Avenue South. An extension of that plan calls for similar redevelopment east to Naples Bay. Thus, Wednesday’s request for a rezoning. At the March 7 first reading of the rezoning request, Passidomo reminded council members of the importance of allowing developers the option to do things like put buildings close to sidewalks and provide parking in the rear, off site or even underground. It’s too early to say what might go on the property, he explained. The owners don’t have specific plans but wanted to get the zoning in place so they could put together a unified project. Just trying to minimize the size of buildings isn’t always best, he said. “If the measurement is least impactful, we’d never have Fifth Avenue South,” Passidomo said.

To Price’s point that 40 percent lot coverage makes for less intense development, Passidomo pointed to a picture of one of the existing properties with its paved parking lot separating the sidewalk from the building. “There it is. You’ve got 40 percent lot coverage. You have front-yard, asphalt parking lots at the entrance to the city. It’s not what your comp plan says you want, but it’s what you’ve got. That’s where we think there’s this enormous disconnect.”

On the other hand, a growing chorus of voters let the 2018 candidates know they believe new development has been too intense. “It’s very clear to me the community is tired of density and traffic. At some point we’ve got to recognize we’re creating our own problems,” Price said. With zoning in place, the developer’s plans for the site can be approved by city staff without further input, so long as they don’t seek anything outside the base downtown densities. That also makes Price uncomfortable. “If we don’t have a plan what we want the area to look like, the developers will get ahead of us,” he said.

With the battle lines already drawn on March 7, when the council approved the rezoning on the same 4-3 vote, Wednesday’s discussion was little more than a formality. Although voters protested the intensity of redevelopment during the campaign, no one from the public showed up to speak at either of the two council hearings on the question. “This hearing was embarrassing,” Price said Wednesday. “I don’t think we’ve spent enough time on the impact of this zoning

 

Official March 2018 Climate Data at Naples Airport:

March 17
YTD 17
March 18
YTD 18
Normal YTD
Rainfall in inches
.13
1.92
1.33
1.96
6.33
Record High March Rainfall
13.56 (1970)
Record Low March Rainfall
0.0 (1974)
High March Temperature
87
88
Low March Temperature
47
48
Record High March Temperature
91 (1975)
Record Low March Temperature
33 (1980)

Temperatures in March were normal for the month, meaning great weather for all!  The average max temperature in March is 79.9…we recorded 78.5. Reported rainfall at Naples was only 1.33 inches. This means we now have a shortfall of over four inches.

 

Book Review: “The Patriarch” by David Nasaw

In this recent biography, historian David Nasaw examines the life of Joseph P. Kennedy, the founder of the twentieth century’s most notorious political dynasty. Drawing on never-before-published materials from extensive archives and interviews with Kennedy family members and friends, Nasaw tells the story of a man who participated in the major events of his times: the booms and busts, the Depression and the New Deal, two world wars and the Cold War, and the birth of the New Frontier. In studying Kennedy’s life, we relive the history of the American century.

“Riveting . . . The Patriarch is a book hard to put down . . . As his son indelibly put it some months before his father was struck down: ‘Ask not what your country can do for you – ask what you can do for your county.’ One wonders what was going through the mind of the patriarch, sitting a few feet away listening to that soaring sentiment as a fourth-generation Kennedy became president of the United States. After coming to know him over the course of this brilliant, compelling book, the reader might suspect that he was thinking he had done more than enough for his country. But the gods would demand even more.” – New York Times Book Review

I must say, I had no idea Joseph P. Kennedy (JPK) had such an amazing career. I knew he had amassed quite a fortune and that he had attained some serious political clout and connections in his lifetime. Before his sons ever hit the political scene, he was making his mark in a variety of industries… banking, finance, film distribution, politics, liquor importation, the real estate, and more. It was pretty amazing to find out all he had done – even if it took me 800 pages to find out about it. The “remarkable life” part of the title really captures it.

I was interested to learn how this family began, and wanted to read Joseph Kennedy’s life history. I found this book to be a great read. It debunks many of the lies and myths of the Kennedy family stories that I have heard for 50 years. (No, Joseph Kennedy did not get his money as a bootlegger. He didn’t have his daughter lobotomized because she was a shame to the family. He didn’t always dream of Joe Jr. and JFK becoming president.) The real stories are much more interesting. When reading this, I began to understand the depth of love that Joe had for his family. I wouldn’t say that his marriage to Rose was ideal; in fact, it was, to my eyes, very strange. However, they did share love and respect. It’s a fascinating look at American politics from 1900 to 1970. I highly recommend it.

 

Restaurant Recommendation: M Waterfront Grille, Village on Venetian Bay

We dined at this restaurant with friends last week after a long absence. We remember that it was named Maxwell’s on the Bay when we moved to Naples 20 years ago! This iteration is a great improvement. Our server and the chef came up with a great vegan meal, which always makes me think that a restaurant is a “cut above”. Fred had the meal and it sounded so appetizing that one of our friends also ordered it. Both found it delicious and suggested they put it on the menu!

Here are a few recent reviews on Trip Advisor:

“This restaurant is on the water (bay). We made reservations and when we arrived a few minutes early we were seated immediately. As we were celebrating our daughter and son-in-law’s first wedding anniversary our table was at the long windows overlooking the bay without even a request. The wait staff was very good — making good suggestions and on top of everything to make this an enjoyable evening. Food was excellent though pricey but between the service and food it was well worth it. Will definitely return and recommend to friends.”

“We had a very good meal at this lovely restaurant. Reservations are a must during their busy time. I had the veal and shrimp, which was excellent; hubby had the bouillabaisse, which was just okay (fish was overcooked and dry); friend had scallops, which she said was delicious. The best part of the meal was the appetizer we had which was warm brie and stone fruit served with toast points — delicious! Our waitress was Tiffany and she did a great job.”

“Having dined at all of the restaurants on both sides of this complex, some with better views, my favorite is definitely M Waterfront Grille. Food was exceptionally good; the wait staff was polite and accommodating and the manager came over to inquire about our comfort which made for a very delightful experience.”

 

Naples Real Estate:

Here are the March 2018 Naples/Bonita market statistics:

For the month of March, there were 3,175 closed sales of existing homes in all of Naples and Bonita. This compares with 3,172 closed sales for last year. This is an identical year-to-year pattern for existing home sales.

Here’s an interesting chart comparing January thru March 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
January-March 2017
3,172
1,421
1,243
211
241
56
January-March 2018
3,175
1,325
1,199
205
376
70
Difference
+3
-96
-44
-6
+135
+14
% Change
0%
-7%
-4%
-3%
+56%
+25%

It’s a little early in the year for meaningful comparisons year-to-year. It’s interesting to see what happened in each category though. Clearly, though, the high-end market is doing better than the lower end on a year-to-year basis.

 

The inventory of available property remains down from last year, but is increasing. As the following table shows, the level of inventory varies dramatically by price point:

Naples Home Inventory As of April 6, 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
12,328
5,499
4,764
763
1,069
233
Average Number Sold per Month
1,027
458
397
64
89
19
Total Available for Sale
8,069
2,599
3,377
678
1,037
378
Months of Supply as of April 6, 2018
8
6
9
11
12
20

The inventory levels increased about 1% from last month to 8,069 properties. Typically this is a busy time for listings. Also, keep in mind that the figure is still a 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.

It is still a buyer’s market for existing homes priced above $300,000. In the over $3 million market, for example, there are 378 properties available. During the last 12 months, 233 properties in this price range have sold…which means an average of about 19 per month. At that rate, the 378 homes available represent about 20 months of supply.

Sellers in the upper price categories are in a highly competitive environment. The median sales price has increased slightly in Naples however, there are still many good buys available in all price categories.

Another market factor is the supply of brand new homes which are now either being built or permitted. There are many new home developments either being built or 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 April 6th, 2018 there were 41 active listings in Kensington. This is three more than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
5
$1,150,000
$1,299,000
$405
177
Villas
4
$510,000
$1,075,000
$281
45
Coach Homes
29
$319,000
$669,000
$203
164
Total
41

There have been 31 closed sales in the past 12-month period. At this average selling rate of 2.58 properties per month, the 41 homes listed represent about 16 months of inventory on average. The number of homes available is three more than last month, and it is definitely a buyers’ market for those available.

 

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 April 6, 2018:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
35
$427,500
$1,190,000
$227
118

 

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
5
4
11
11
4
Average Price per Sq. Ft.
$213
$210
$232
$228
$244
Average Number of Days on Market
215
200
77
118
54

Available inventory is 11 less than last month. As of April 6th there were 35 active listings,2 pending sales and 14 pending sales with contingencies. The MLS system lists 38 spec and resale homes sold in the last 12 months.

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

Wakelin Realty Team March 2018 Newsletter

Hello from Naples!

Rae and Fred attended the YMCA Gala at the Naples Sailing and Yacht Club in February. The Gala included a dinner, auction and a great presentation of what the “Y” means to Naples residents. The proceeds support the “Y” and all of its initiatives, which include after school programs, day camps for kids, an early learning center, swimming and other fitness activities.

The “Y” is going thru some challenging times right now…storm damage repairs from Hurricane Irma, needed repairs at the Norris Pool facility and a search for a new CEO. Many of us got our start in sports and team activities at our local YMCA when we were young. It’s a great time to step up and help this wonderful organization in a time of need.

 

Here’s an interesting article from the Naples Daily News: Luxury Home Sales Surge…Lower Priced Lag

The New Year came with some big purchases for Naples homebuyers. Closed sales of luxury properties — homes above $1 million — increased 123 percent over closed luxury sales in January 2017, according to the January 2018 market report released by the Naples Area Board of Realtors.

The monthly NABOR report tracks all sales made through the Southwest Florida MLS, excluding Marco Island. NABOR reported overall closed sales for January to be up 11 percent in Collier County compared to January 2017. There were 671 single-family and condominium sales in January, up 11 percent from last January, according to NABOR data. There was a 23 percent decrease in the number of single-family homes sold in the under $300,000 range, and pending sales, or new contracts written, declined 24 percent year-over-year. The number of sales in the $300,000-$500,00 price range declined to 156 in January, a 4 percent decrease over the same month last year.

Naples Beach area stood out to buyers in the single-family home market with pending sales up 51 percent over last January. Median closed prices throughout Naples were also up in January compared to last January. For the entire market, the overall median closed price increased 19 percent to $375,000 in January. January’s median closed prices decreased 19 percent in the $2 million and above price category. The median price is the price at which half of the homes sell for more and half for less.

“For a long time we saw double-digit increases in median closed prices for single-family homes in the $0 to $300,000 market,” said Cindy Carroll, SRA of Carroll & Carroll Appraisers and Consultants LLC. “But for January, the report showed only a 4 percent increase year over year.”

The January report showed the median closed price for homes under $300,000 was $255,000. However, the median closed price of homes over $300,000 was $505,000. While prices continued to increase, Collier County inventory showed a decrease of 5 percent. That translated to 258 fewer homes on the market compared to last January’s inventory.

“There’s an ongoing shortage of housing inventory in many markets across Florida,” said Florida Realtors President Christine Hansen, broker-owner with Century 21 Hansen Realty in Fort Lauderdale. “January’s statewide home sales reflected the tight supply, and — when combined with rising median sales prices — it puts pressure on potential homebuyers.”

January was a hot month for condominium sales in Naples. Closed sales of condominiums increased 23 percent in January compared to January 2017, while closed sales of single-family homes decreased 1 percent, according to NABOR reports.

“Lately, condo and townhouse sales growth has been outpacing that of single-family homes, and the reason is that the picture for condos and townhouses has been much more balanced. The single-family home market, by contrast, continues to be held back by inadequate levels of new construction,” said Florida Realtors Chief Economist Dr. Brad O’Connor.

Reports reflected 150 closed sales of condominiums in North Naples in January, a 150 percent increase over January 2017. The median closed prices in North Naples increased 428 percent. According to a NABOR release, 79 closings from a newly built luxury high-rise condominium in North Naples impacted closed sales, median closed price and days on market figures for the month. Those 79 condominiums sold between $1.8 million and $2.5 million, NABOR reported.

 

Official February 2018 Climate Data at Naples Airport:

Feb. 17
YTD 17
Feb. 18
YTD 18
Normal YTD
Rainfall in inches
1.13
1.92
0.10
.63
3.95
Record High February Rainfall
7.99 (1983)
Record Low February Rainfall
0.0(1949)
High February Temperature
88
89
Low February Temperature
51
53
Record High February Temperature
89 (2018)
Record Low February Temperature
28 (1981)

Temperatures in February were above normal for the month. It seemed more like April than February. The average max temperature in February is 76.9…we recorded 84.6. We tied the record for the month at 89 degrees on three different days! We were the warmest place in the country for much of the month. It was a great month to be vacationing or living in Naples! Reported rainfall at Naples was only .10 inches. This means we now have a shortfall of over three inches.

 

Book Review: “The Great Alone” by Kristin Hannah

I loved Hannah’s book “The Nightingale” which was named Goodreads Best Historical fiction novel for 2015 and won the coveted People’s Choice award for best fiction in the same year. Additionally, it was named a Best Book of the Year by Amazon, iTunes, Buzzfeed, the Wall Street Journal, Paste, and The Week. So I was excited to read her latest, “The Great Alone”!

This is a spectacular book. Set in the 1970’s in Alaska, it tells the story of a family, Lenora (Leni), her parents, Cora and Ernt, who had been a prisoner of war in Vietnam whose experiences had “snapped something in him.” He is full of pain and suffering and flashbacks before we knew what PTSD could do to a person, and the effects it had on the people they loved. It is much more than a story of his pain, however. His daughter, Leni, becomes an unforgettable character and is really the heroine of the book. She and her mother, Cora, face many ordeals and challenges.

A love for Alaska shines through the twisting, turning story of this small family who both loves and hurts each other. When the characters move to Alaska the story comes vividly alive…the scenery, the characters and action.

Here is a passage that exemplifies the book:

“Two kinds of folks come up to Alaska, Cora. People running to something and people running away from something. The second kind-you want to keep your eye out for them. And it isn’t just the people you need to watch out for, either. Alaska herself can be Sleeping Beauty one minute and a bitch with a sawed-off shotgun the next. There’s a saying: Up here you can make one mistake. The second one will kill you.”

I highly recommend you read this book.

 

Restaurant Recommendation: La Cuisine 3861 Tamiami Trail E., Naples

We dined at this restaurant with friends last week. When they told us the name, we thought it must be a French restaurant. Not so… it’s Peruvian! It’s a small place, but we loved the food. Our waiter was knowledgeable and steered us to some great dishes. They even came up with a terrific vegan dish. We were also surprised how fast we got there from our place in Kensington; we made it there in less than 20 minutes in February!

Here are a few recent reviews on Trip Advisor:

“Fantastic authentic flavor from Peru, I had the fish tacos which were outstanding, excellent portion size reasonable pricing. The service was exceptional I will definitely come back!”

“This place is special! Made fresh and all wonderful Appetizer are all unique— cheese wontons, cold potato shrimp and egg, fried rice with shrimp, steak with rice and fries, shrimp with stir fried veggies Waitress the best— always smiling. Worth the stop!”

“The food here was so great we went three times for dinner in two weeks….and are planning a weekly visit for the remainder of our “snowbirding” winter in Naples…just to try every entree. The dinner salad was excellent (the scallops appetizer was tasty but very small…just a few bites to wet the appetite). The corvina entree with seafood was outstanding, as was the lamb chop entree. Both fillet mignon dishes were also excellent…those are the entrees we have tried so far…can’t wait to try the others!!”

 

Naples Real Estate:

Here are the February 2018 Naples/Bonita market statistics.

For the month of February, there were 1,822 closed sales of existing homes in all of Naples and Bonita. This compares with 1,793 closed sales for last year. This represents about a 2% year to year increase for existing home sales.

Here’s an interesting chart comparing January thru February 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
Jan.-Feb. 2017
1,793
826
689
123
127
28
Jan.-Feb. 2018
1,822
773
646
105
265
33
Difference
+29
-53
-43
-18
+138
+5
% Change
+ 2%
-6%
-6%
-15%
+109%
+19%

It’s a little early in the year for meaningful comparisons year-to-year. It’s interesting to see what happened in each category though. Clearly, the high-end market is doing better than the lower end.

 

The inventory of available property remains down from last year, but is increasing. As the following table shows, the level of inventory varies dramatically by price point:

Naples Home Inventory As of March 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
12,298
5,521
4,736
747
1,069
225
Average Number Sold per Month
1,025
460
395
62
89
19
Total Available for Sale
8,167
2,581
3,459
709
1,037
381
Months of Supply as of March 3, 2018
8
6
9
11
12
20

The inventory levels increased about 14% from last month to 8,167 properties. This was the 5th monthly increase in a row and the largest number in quite some time. Typically this is a busy time of year for listings. Also, keep in mind that the figure is still a 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 381 properties available. During the last 12 months, 225 properties in this price range have sold…which means an average of about 19 per month. At that rate, the 381 homes available represent about 20 months of supply.

Sellers in the upper price categories are in a highly competitive environment. The median sales price has increased slightly in Naples. There are many good buys available in all price categories in the secondary market.

Another market factor, which has been in play for several years, is the supply of brand new homes. There are many new home developments either being built or 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 March 3rd, 2018 there were 38 active listings in Kensington. This is two more than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price Per Sq. Ft.
Avg. Days on Mkt.
Estate Homes
5
$1,150,000
$1,375,000
$410
143
Villas
4
$510,000
$899,000
$280
138
Coach Homes
29
$359,250
$656,000
$203
151
Total
38

There have been 27 closed sales in the past 12-month period. At this average selling rate of 2.25 properties per month, the 38 homes listed represent about 17 months of inventory on average. The number of homes available is two more than last month, and it is definitely a buyers’ market for those available.

 

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 March 3rd, 2018:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
46
$427,500
$1,190,000
$227
118

 

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
8
7
10
11
10
Average Price per Sq. Ft.
$217
$224
$222
$228
$241
Average Number of Days on Market
187
130
81
113
97

Available inventory is 2 less than last month. As of March 3rd there were 46 active listings, 2 pending sales and 5 pending sales with contingencies. The MLS system lists 41 spec and resale homes sold in the last 12 months, which means there is currently a 13-month supply of inventory 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

Wakelin Realty Team February 2018 Newsletter

Hello from Naples!

Jeff Wakelin (Nicola’s husband) managed to acquire 4 tickets to the Patriots-Jaguars playoff game in Foxborough, MA two weeks ago. We decided that Jeff, daughter Natalie, Fred (Rae’s husband) and daughter Liz would be the lucky ones to go. Liz flew into Boston from Greensboro and met the rest of the crew from Naples.

They took a tour of Tufts University Saturday afternoon, as Natalie is looking at colleges, however it did not displace her #1 choice of BC. Then they enjoyed a great dinner with many of Jeff’s college buddies from UMass on Saturday night in Boston. They went to the game on Sunday afternoon. The temperature was in the mid-forties which was a heatwave for the locals and somewhat tolerable for the Floridians. The game was exciting and (for the majority of fans in attendance) turned out the right way. Most of the USA was rooting for the Jaguars to upset the Patriots, but New England came thru in the end. Our gang from Naples was thrilled!

 

Here’s an interesting article from the Naples Daily News:

Argo breaks ground on residential land in East Naples

Argo Land Development is clearing land at U.S. 41 East and Manatee Road for a future residential community near Manatee Middle and Elementary schools in East Naples.

Argo’s Manatee project is destined to be a gated community with multifamily twin villas and single-family detached homes. The proposed planned unit development on slightly more than 75 acres at 13792 U.S. 41 E. permits 225 residential units. More than 13 acres of the development will be preserved as native vegetation, Collier County records show.

The developer recently was permitted for 191 home lots at that site, said Scott Bland, president of Argo’s Florida division.

“We are zoned for up to 225 units out there,” Bland said. “We haven’t sold the lots yet or gone to market with the lots.”

The new community is planned on each side of Manatee Road where it intersects with the East Trail. In addition to abutting the county schools’ property, the development will border the Enchanting Shores mobile home community on Manatee Road.

Of the total 191 home lots, the site plan shows 162 lots on more than 45 acres on the southwest corner of Manatee and U.S. 41. The future Yellowfin Drive residential street off Manatee Road will lead to Yellowfin Circle, which will ring an irregularly shaped lake and homes on Yellowfin Court cul-de-sac, which is planned to jut into the lake.

Another 29 home lots are planned along the future Tripletail Lane on 7 acres of land on the southeast corner of Manatee and the East Trail. A future amenity center with a swimming pool and grilling facilities for residents is planned on the lake off Yellowfin Circle, plans show.

A prospective move-in date or even a target start date for home construction are not available yet because Argo still needs to sell the lots to a builder, Bland said.

“It’s premature to pin down dates,” he said.

Argo purchased the undeveloped acreage in August 2016 for $4 million, county property appraiser records show.

Based in Ontario, Canada, Argo has its United States headquarters in Estero. After developing communities in Canada for 25 years, the company began its development push south of the border more than three years ago in Southwest Florida.

It nears completion of the Compass Landing residential development along Tree Farm Road off Collier Boulevard between Immokalee Road and Vanderbilt Beach Road in North Naples.   Mattamy Homes, Canada’s largest privately held homebuilder, is building 273 single-family homes in that gated community.

Argo also is behind two future residential communities in Estero — the Corkscrew Crossing community on nearly 400 acres off Corkscrew Road east of Interstate 75; and Estero Park on 77 acres off U.S. 41.

 

Official January 2018 Climate Data at Naples Airport:

  
January
17
YTD 17
January
18
YTD 18
Normal YTD
Rainfall in inches
0.79
.79
0.53
.53
1.85
Record High January Rainfall
9.4 (1991)
Record Low January Rainfall
0.0(1949)
High January Temperature
86
82
Low January Temperature
42
36
Record High January Temperature
88 (1975)
Record Low January Temperature
26 (1982)

Temperatures in January were below normal for the month. The average max temperature in January is 74.7…we recorded 73.1. It was much colder than last year, with temperatures reaching a low of 36 at the Naples airport on the 18th. Reported rainfall at Naples Airport was only .53 inches which means we begin the New Year with a shortfall of over an inch.

 

Book Review: “The Mountain Between Us” by Charles Martin

On a stormy winter night, Dr. Ben Payne and writer Ashley Knox are stuck in Salt Lake City airport when their flights home are canceled because of a storm. Both of them are in hurry; Ben has patients to attend to and Ashley is getting married the following day. Ben hires a charter plane and offers Ashley a seat and the rest of the story becomes a wonderful book. It is a must read and one you won’t want to put down. The author talks of life, love, hardship, perseverance and mending of hearts.

This novel has everything. Suspense, adventure, mystery and romance come together in a masterful tale. Martin’s descriptions of the Wasatch Mountain Range are masterful. The book puts you in the shoes of Ben, the narrator, as though you are walking with him throughout the adventure.

I was spellbound until the end and the climax wasn’t anything I saw coming! In hindsight, I probably should have guessed the twist at the end.

 

Restaurant Recommendation: Barbatella 1290 Third St. South

Rae, Nic and daughter Riley dined here last week and loved it. Both Rae and Nicola ordered the scallops and said they were the best in Naples. Barbatella has a beautiful courtyard setting with views along historic Third Street South. Inside are casual and relaxed dining rooms with brick floors and wood accents. There is also a pizza oven and custom gelato counter that enlivens the decor. A twenty-seat bar which features 100 wines available by the glass, made possible by a state-of-the-art wine preserving system.

The menu includes pasta with typical ingredients from Emilia-Romagna, the Veneto, Tuscany, Puglia and the Adriatic shores. Meat and fish prepared on the rotisserie, the grill, the deep fryer, and the smoker: whole roast duck, smoked pork baby back ribs, Venetian style meatballs, and much more. Signature pizzas with cheeses and garnishes that emphasize a fresh Italian take on favorites from a wood-burning oven.

Here are a few recent reviews on Trip Advisor:

“ Calamari and eggplant appetizer were great! The entrees were good as well especially the pork. I enjoyed my experience here. A little hectic but it was a Saturday night during season so it was expected!”

“We visited with another couple. The mozzarella and burrata appetizers were really delicious – they are large enough that 2 were more than adequate for the four of us. The salads were large and dressed just enough. The entrees we tried were Pappardelle Bolognese, Rigatoni alla Norma, Ligurian Seafood platter and the Seared Scallops. We all thought all these were excellently prepared as well. The wine list choices were also among the more diverse and affordable we have seen. The serving staff was very attentive and friendly.”

“We eat here often, because it’s always fun and always delicious. Pizza is spectacular! As is the pasta. It’s hard to decide what to order, everything is delicious. Service is great. The staff is very helpful and attentive. And, a great wine list!!!”

 

Naples Real Estate:

Here are the January 2018 Naples/Bonita market statistics.

For the month of January, there were 884 closed sales of existing homes in all of Naples and Bonita. This compares with 848 closed sales for last year. This represents about a 4% year to year increase for existing home sales.

Here’s an interesting chart comparing January 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
Jan. 2017
848
389
325
54
65
15
Jan. 2018
884
373
303
44
149
16
Difference
+36
-16
-22
-10
+84
+1
% Change
+4%
-5%
-7%
-19%
+129%
+7%

It’s too early in the year for meaningful comparisons year-to-year but it’s interesting to see what happened in each category.

The inventory of available property remains down from last year, but is increasing. As the following table shows, the level of inventory varies dramatically by price point:

Naples Home Inventory As of February 2, 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
12,335
5,571
4,770
757
1,016
221
Average Number Sold per Month
1,028
464
398
63
85
18
Total Available for Sale
7,799
2,399
3,342
671
1,012
375
Months of Supply as of February 2, 2018
8
5
8
11
12
21

The inventory levels increased about 9% from last month to 7,182 properties. This was the 4th monthly increase in a row and the largest number in a while. Typically there are a good number of listings that hit the market about this time each year. Also, keep in mind that the figure is still an extremely 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, 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 375 properties available. During the last 12 months, 221 properties in this price range have sold…which means an average of about 18 per month. At that rate, the 375 homes available represent about 21 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 February 2, 2018 there were 36 active listings in Kensington. This is the same as last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price Per Sq. Ft.
Avg. Days on Mkt.
Estate Homes
6
$1,150,000
$1,350,000
$380
121
Villas
5
$485,000
$750,000
$271
222
Coach Homes
25
$359,250
$669,000
$206
151
Total
36

There have been 26 closed sales in the past 12-month period. At this average selling rate of 2.17 properties per month, the 36 homes listed represent about 17 months of inventory on average. The number of homes available is the same as last month and it is definitely a buyers’ market for those available. There are 5 pending sales and 5 pending sales with contingencies on February 2nd.

 

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 February 2, 2018:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
48
$427,500
$1,290,000
$227
106

 

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
6
7
12
13
10
Average Price per Sq. Ft.
$214
$228
$216
$225
$248
Average Number of Days on Market
 162
 98
 92
 120
78

Available inventory is 11 more than last month. As of February 2nd there were 48 active listings, 0 pending sales and 3 pending sales with contingencies. The MLS system lists 44 spec and resale homes sold in the last 12 months, which means there currently is a 13-month supply of inventory.

 

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

Wakelin Realty Team January 2018 Newsletter

Hello from Naples!

Happy New Year everyone! We hope your 2017 was wonderful and you’re ready for an even better 2018.

The whole family was together for Christmas since Rae’s daughter Liz and her husband David joined all of us in Naples. We went to the North Naples Church on Christmas Eve for their 6:00 pm candle light service. The Christmas music was fantastic…strings, horns, choir and organ. We had never been there before and were amazed at the quality of the musicians. We would highly recommend it if you are looking for a place to celebrate Christmas next year and they offer several different service times to accommodate everyone’s schedule.

 

Here’s an interesting article from the Naples Daily News:

Offseason’ not so off for multimillion-dollar home sales in Naples.

The “offseason” wasn’t so off for multimillion-dollar homes in the Naples area. The Southwest Florida MLS, or multiple listing service, shows that seven homes sold for more than $10 million from May to August, not including any private sales. All are at the south end of Naples in Port Royal, considered one of the most prestigious communities in the world.

Local Realtors suggested there could be various reasons for the summer pickup at the high end. Some said the activity could have come from buyers hoping for better deals ahead of season. Others said it might have been pent-up demand.

Interest might have been stronger because some hesitated to buy early in the year, putting the decision off until they saw how the election of a new president would affect the economy and the financial markets, Rogers said.

A few more $10 million-plus home sales have been made since August. In September — usually one of the slowest months for area Realtors — a four-bedroom, three-bathroom estate sold for $11.5 million. At 26 Second Ave. S., the beachfront house in Old Naples with an open, minimalist design spans a little over 4,000 square feet. It’s primarily second-home — or vacation home — buyers driving the sales at the highest end of the market.

That was the case for the stunning estate on Treasure Lane. The buyer snatched it up quickly after he flew in to see it. The custom-built Dutch West Indies-style home, dubbed “The King’s Treasure” and completed in May, offers more than just great waterfront views. It includes wide plank floors, a chef’s style kitchen, custom-built cabinetry, marble and stone tile, a wine cellar, and an oversized infinity pool and spa that appear to merge into Treasure Cove. It sold fully furnished.

The offseason, which typically runs from May to October and marks the time when fewer residents and visitors are in town, started with a bang. A newly built waterfront estate at 3750 Rum Row went for $17.7 million, setting a record as the most expensive home to sell in Naples this year.

“Our very pleased new European owners already had their eye on Naples because this beautiful locale enables them to escape from winter to warm, sunny weather in just five hours on their private jet,” the realtor said. “In addition to blue skies and sunshine, they found everything they were looking for in this magnificent bay front home: a brand-new turnkey residence with breathtaking wide water views.”

Another big sale came in August, when 840 Admiralty Parade changed hands for $14.75 million. Built in 2015, the five-bedroom, seven-bathroom estate, stretching 8,753 square feet, sits on a lot and a half overlooking Admiralty Bay. Standout features include water views through floor-to-ceiling glass, a chef’s kitchen with triple granite islands and hammered copper sinks, and a study with a large aquarium and stone fireplace.

Showings continued to be strong into the fall.  After such a busy offseason, Realtors have geared up for a busier season. In addition, with the continued growth in the economy and the potential for tax reform stimulus of corporate earnings, those who are in a position to purchase will have even more incentive. Hurricane Irma made a mess of Naples when it hit Sept. 10, but it caused no major structural damage in or near the city. Realtors have described it as a “short-term deal,” saying the market already is showing resilience.

“People are naturally optimistic and tend to move on to refocus on what they want,” the realtor said. “In our case, it’s the unparalleled lifestyle of luxury in Naples. “The same reason we stay here is the same reason more will come.”

 

Naples Weather for December 2017

Temperatures in December were a little warmer than normal for the month. The average max temperature is 76.6…we recorded 78.0. Rain was slightly below average in December. We finished the year, however, with 59.8 inches compared with the normal 51.89.

 

Book Review: “The Rooster Bar” by John Grisham

Mark, Todd, and Zola came to law school to change the world, to make it a better place. But now, as third-year students, these close friends realize they have a big problem. They all borrowed heavily to attend a third-tier, for-profit law school so mediocre that its graduates rarely pass the bar exam, let alone get good jobs. And when they learn that their school is one of a chain owned by a greedy New York hedge-fund operator who also happens to own a bank specializing in student loans, the three know they have been caught up in a huge dilemma.

But maybe there’s a way out. Maybe there’s a way to escape their crushing debt, expose the bank and the scam, and make a few bucks in the process. But to do so, they would first have to quit law school. And leaving school a few short months before graduation would be completely crazy, right? The answer is in the book!

Although most readers say it isn’t one of Grisham’s best, I thought it was a fun, entertaining and enlightening read. I would heartily recommend it.

 

Restaurant Recommendation: Ayara Sushi Asian Grill 2650 Immokalee Rd. 

This is another place that we love. The staff is friendly and accommodating. The food is always fresh and delicious plus the service is great. We’ve enjoyed many of family dinners here. There are a wide variety of choices… sushi, sashimi, fried rice dishes, stir fry and complete dinners. Everything has always been consistently good for us. Nicola recommends trying the grilled octopus appetizer…it’s her favorite! Chef Jon Augsondthung who also owns the successful Fuji Sushi Bar and Asian Bistro located on Naples Blvd owns Ayara.

Here are a few recent reviews on Trip Advisor:

“Our son loves sushi and we found this place. We started with calamari and crab Rangoon. I had a spicy scallop roll, our son had spicy tuna tempura roll, and my husband had a choose your items. By far the freshest, best tasting sushi we’ve had locally. We’ll be back! Check it out, you won’t be disappointed!”

“Since I moved to SWFL, I’ve been searching for some good thai food – and I found it! The basil chicken is amazing! Yum! I’ve been to several asian/thai places in this area, and I think this is the best one!”

“Everything was delicious, the apps, chicken lettuce wraps were delicious and the Monogolian beef and the sushi was also delicious! Had a really nice time and so glad we went!”

“We ordered the boat for two and were amazed at how fresh and wonderful our order was. Great presentation of sushi and sashimi. Everyone from sushi chef to our server was extremely pleasant. Looking forward to going back.”

 

Naples Real Estate:

Here are the YTD December 2017 Naples/Bonita market statistics.

For the year of 2017, there were 12,260 closed sales of existing homes in all of Naples and Bonita.  This compares with 11,954 closed sales for last year. This represents about a 3% year to year increase for existing home sales. It should be noted that hurricane Irma did impact the number of closed sales in the final quarter.

Here’s an interesting chart comparing 2017 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
Jan. –Dec. 2016
11,954
5,676
4,506
716
859
197
Jan. – Dec. 2017
12,260
5,570
4,772
766
931
221
Difference
+306
-106
+266
+50
+72
+24
% Change
+ 3%
-2%
+6%
+7%
+8%
+12%

All categories except the lowest price are up from last year. The year 2017 was positive for existing home sales. Growth slowed a little toward the end of the year, but sales of existing homes stayed positive for 2017.

The inventory of available property remains down from last year, but is increasing. As the following table shows, however, the level of inventory varies dramatically by price point:

Naples Home Inventory As of January 5, 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
12,260
5,570
4,772
766
931
221
Average Number Sold per Month
1,022
464
398
64
78
18
Total Available for Sale
7,182
2,224
3,083
604
930
341
Months of Supply as of January 5, 2018
7
5
8
9
12
19

The inventory levels increased about 4% from last month to 7,182properties. This was the third monthly increase in a row. Typically there are a good number of listings that enter the market at this time each year. Also, keep in mind that the figure is still an extremely 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, 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. This analysis is strictly related to homes on the secondary market.

It is still a buyer’s market for existing homes priced above $300,000. In the over $3 million market, for example, there are 341properties available. During the last 12 months, 221 properties in this price range have sold…which means an average of about 18 per month. At that rate, the 341 homes available represent about 19 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 January 5, 2018 there were 36 active listings in Kensington. This is 7 more than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
7
$1,150,000
$1,650,000
$394
155
Villas
6
$465,000
$780,000
$265
199
Coach Homes
23
$359,250
$669,000
$203
155
Total
36

There have been 25 closed sales in the past 12-month period. At this average selling rate of 2.08 properties per month, the 36 homes listed represent about 17 months of inventory on average. The number of homes available is 7 more than last month, and it is definitely a buyers’ market for those available. Also there were 4 pending sales and 2 pending sales with contingencies in Kensington on January 5th.

 

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 January 5, 2018:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
37
$455,000
$1,290,000
$230
121

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
7
4
7
9
10
Average Price per Sq. Ft.
$218
$227
$225
$227
$245
Average Number of Days on Market
157
175
67
136
99

Available inventory is 4 more than last month. As of January 5th there were 37 active listings, 0 pending sale and 4 pending sales with contingencies. The MLS system lists 48 spec and resale homes sold in the last 12 months which means there is currently just over 9 months of inventory 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

Wakelin Realty Team December 2017 Newsletter

Hello from Naples!

This month we are happy to share some exciting news! Rae and Nicola have moved to Berkshire Hathaway HomeServices Florida Realty. They are excited about the change because they now represent one of the world’s most respected brands. It’s a great affiliation for their current clients as well as for new buyers and sellers. The brand is inspired by world-renowned Berkshire Hathaway, Inc…Warren Buffet’s worldwide holding company for his many diverse and successful businesses. It gives Rae and Nicola many more unique tools to help both buyers and sellers. Affiliation with a worldwide organization is a big plus when buying or selling a home in this global real estate market.

Also, Rae and Fred just returned from a transatlantic repositioning cruise aboard Oceania’s Riviera. This is the time of year that the cruise lines move their ships from Europe to the Caribbean, which provides an opportunity to cross the Atlantic. The crossing takes 5 days, but there are many ports of call in Europe before the crossing as the cruise originates in Rome and then ports of call in the Caribbean before the cruise ends in Miami. The cruise was 18 days in all and if anyone is thinking about taking this trip in the future, please contact Rae as she can provide some good tips!

 

Here’s an interesting article from the Naples Daily News:

Who owns the beach in Collier County?

For decades, Collier County’s beachfront in Southwest Florida has been a welcoming place.

Naples’ founding fathers ended the city’s east-west avenues at a street now buried under the sand. The extended avenues mean that, even today, each beach end has parking on every block. For a while, that was enough.

But explosive growth soon made beach parking a big issue. City leaders threatened to start charging county residents for beach parking stickers. The county built the Vanderbilt Beach parking garage to help alleviate the coastal space strain.

So when the Ritz-Carlton first tried to mark off its beach south of the new garage for the exclusive use of hotel guests, the public fought back. It was Collier’s first realization that the beach might not be the publicly owned sandy park everyone believed they had an undisputed right to roam.

The Florida Department of Environmental Protection was called in to make sure the line was drawn in the right place. During especially busy times, the Ritz would post a guard to shoo away visitors who weren’t hotel guests. The county and the Ritz settled into an uneasy understanding in which the hotel uses the entire length of its beach for guests about 30 peak days a year and opens some of it to the public on other days.

Then one spring morning in 2010, visitors walked onto Vanderbilt Beach and found cones and signs marking off a part of the beach in front of the Moraya Bay condominium. For more than a week, the condo was the focus of angry beachgoers who wanted back what they thought was theirs all along: the beach. They overran County Commission chambers, demanding commissioners fight back. They did, voting to take whatever steps were needed, including going to court.

Moraya Bay eventually relented, removing the cones and the signs, and making court action moot. “It looks like a free country,” a 77-year-old Cape Cod woman observed as beachgoers spread their chairs and blankets over sand that had been off-limits the day before.

Moraya Bay developers argued they were simply trying to make the same use of its private beach as other Collier beach clubs, including the Port Royal Club, the Edgewater Beach Hotel, the Naples Beach Hotel and Golf Club, the Ritz-Carlton and La Playa.

After a new County Commission was seated this year, commissioners received emails from the Naples Park Association and beach access advocate Graham Ginsberg about Moraya Bay again marking off its beach.

“Collier County government has yet to provide a solution and fairness for the public use of our beaches,” Ginsberg wrote in one email.

County Attorney Jeff Klatzkow told commissioners this summer he could offer a public beach access law for their review. It would be limited to Vanderbilt Beach and based on the customary use doctrine and the $20 million in public money used to maintain the beach, he wrote. But, he added, it also might not be worth the trouble unless more beach visitors come forward with stories of being wrongfully run off the beach.

“My concern is that such an ordinance will be controversial, will bring out both the private property groups as well as the public access groups, and may result in bad feelings among many,” Klatzkow wrote.

Happening in Naples in December 2017:

December     2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
2
3
4
Kidz Act Presents Elf the Musical
5
Holiday Origami
6
Holiday Tree Lighting at Mercado
7
Naples Players Miracle on 34th St
8
Walking Tour of Naples Historic District
9
Farmers’ Market Shoppes at Vanderbilt
10
Ship and Shop Sunday at Waterside
11
Tour of Palm Cottage
12
Ten Days of Christmas at Palm Cottage
13
Guided Kayak Tours Rookery Bay
14
Edison and Ford Holiday Nights
15
Holiday Pops Concert Artis
16
Christmas Santa Stroll and 5K
17
Annual Christmas Tree Lighting 5th Ave.
18
Naples Players Miracle on 34th St
19
Mercato Movies on the Lawn
20
Walking Tour of Naples Historic District
21
Third Thursday on Third St
22
Edison and Ford Holiday Nights
23
Holiday on Venetian Bay
24
Guided Kayak Tours Rookery Bay
25
Christmas Day
26
Fitness Camp Miromar
27
Art After Hours Artis
28
Tai Chi in the Garden
29
Tour of Palm Cottage
30
Farmers’ Market Shoppes at Vanderbilt
31
New Year’s Eve Fireworks at Naples Pier

 

Official November Climate Data at Naples Airport:

November 16
YTD 16
November 17
YTD 17
Normal YTD
Rainfall in inches
T
44.2
3.29
58.74
50.44
Record High November Rainfall
17.52 (1951)
Record Low November Rainfall
T (2016)
High November Temperature
89
86
Low November Temperature
48
59
Record High November Temperature
92 (1944)
Record Low November Temperature
31 (1970)

Temperatures in November were about average for the month. The average max temperature is 81.2…we recorded 82.4. Rain was below average in November. YTD number is still significantly more than normal, however. November marks the end of rainy, hot summer days and the beginning of dry, cooler weather that will dominate the region until the spring of 2018.

 

Book Review: “I am Pilgrim” by Terry Hayes

A friend recommended this book and she steered us right! As we later learned, Terry Hayes wrote the script for a movie called Dead Calm…that was Nicole Kidman’s starring debut. I’ve always admired that film and the book was great, too.

This action-packed thriller has a few stories going on simultaneously that make no sense at first but once you start to catch on, this book is a page turner. Written with well- researched detail, vivid wording to help you get immersed in the story and surprising twists and turns.

It’s the best spy thriller I have read in a while. The book is long, and covers several sub-plots (that are tied together at the end). It’s told in the first person, by a character that is an ex-spy turned crime investigator. The story is of a bio-terror plot against the United States, a confusing pair of murders, and how events can come back to bite us in the future.

I hope there is a sequel!

 

Restaurant Recommendation: Bricktop’s Waterside Shops Naples

We love this place; the food is always consistently good, the wait staff is friendly and it’s in a fantaic location close to movie theatres, shopping and Naples Artis. Reservations are highly recommended during the season. The Naples location is one of nine in this expanding company based in Nashville, TN. They specialize in “American Bistro” cuisine.

Here are a few recent reviews on Trip Advisor:

“Excellent menu choice, highly recommend the Tuna, cooked perfectly and service is second to none, a lovely restaurant in lovely setting”

“Bricktops is consistently brilliant for great menu service (love the bar area). Milanese Chicken is fantastic and great mashed potato. The ribs here are also amazing. We try and go twice a week when we are here and also fit a lunch in as the Wedge and Cobb salads are great.”

“Had a very nice dinner here with great drinks, great food, great atmosphere and great service. Can eat inside or outside and has a really nice bar with TV.”

 

Naples Real Estate:

Here are the YTD November 2017 Naples/Bonita market statistics.

For the first eleven months of 2017, there were 11,263 closed sales of existing homes in all of Naples and Bonita. This compares with 10,957 closed sales for last year. This represents about a 3% year to year increase for existing home sales. It should be noted that hurricane Irma impacted the number of closed sales in September.

Here’s an interesting chart comparing 2017 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
Jan. – Nov. 2016
10,957
5,244
4,109
641
783
180
Jan. – Nov. 2017
11,263
5,121
4,392
706
837
207
Difference
+306
-123
+283
+65
+54
+27
% Change
+ 3%
-2%
+7%
+10%
+7%
+15%

All categories except the lowest price are up from last year. The first eleven months of 2017 have been positive for existing home sales. Sales slowed a bit in November, but sales of existing homes stayed positive for the first eleven months of 2017.

The inventory of available property remains down from last year. As the following table shows, however, the level of inventory varies dramatically by price point:

Naples Home Inventory As of December 4, 2017
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
12,193
5,513
4,778
772
906
224
Average Number Sold per Month
1,016
459
398
64
76
19
Total Available for Sale
6,906
2,126
2,993
587
870
330
Months of Supply as of December 4, 2017
7
5
8
9
11
17

The inventory levels increased about 9% from last month to 6,906 properties. This was the second monthly increase in a row. Typically there are a good number of listings that enter the market at this time each year. Also, keep in mind that the figure is still a 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, 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 330 properties available. During the last 12 months, 224 properties in this price range have sold…which means an average of about 19 sold per month. At that rate, the 330 homes available represent about 17 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 December 4, 2017 there were 29 active listings in Kensington. This is four more than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
7
$1,145,000
$1,650,000
$379
184
Villas
5
$485,000
$819,900
$265
219
Coach Homes
17
$425,000
$780,000
$205
183
Total
29

There have been 26 closed sales in the past 12-month period. At this average selling rate of 2.17 properties per month, the 29 homes listed represent about 13 months of inventory on average. The number of homes available is four more than last month, and it still is a buyers’ market for those available. There was one pending sale and 3 pending sales with contingencies on December 4.

 

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 December 4, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
33
$455,000
$1,290,000
$228
123

 

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
8
5
5
8
7
Average Price per Sq. Ft.
$221
$209
$223
$227
$251
Average Number of Days on Market
115
197
68
126
114

Available inventory is 4 more than last month. As of December 4th there were 33 active listings, 1 pending sale and 2 pending sales with contingencies. The MLS system lists 51 spec and resale homes sold in the last 12 months which means there is currently an 8 month supply of inventory in Riverstone.

 

Thanks for taking the time to read our newsletter. Give us a call if we can help with any of your real estate questions at 239-398-0028 (Rae) or 239-451-9351 (Nicola).

Rae & Nicola

 

Wakelin Realty Team November 2017 Newsletter

Hello from Naples!

On Tuesday, October 24th the Wakelin family enjoyed a wonderful evening out together. They went to Artis-Naples to view the film “La La Land” which was accompanied by a 70-piece orchestra and live choral singers. It was a truly magical experience to enjoy this film while listening to the film’s catchy, nostalgic tunes being played live by Naples Philharmonic orchestra. Special lighting in the theater added to the magic and helped the viewers get engrossed in the experience. The guest conductor, Norman Huynh who is the associate conductor for the Oregon Symphony, was fun to watch as he was full of energy and was dressed in bright red sneakers to go with his traditional black suit. The ensemble played flawlessly through the entire performance ending in a rousing standing ovation from the crowd. Nicola’s daughter’s Natalie (who is a cellist) and Riley (who is a trombonist) were inspired by the evening and have been listing non-stop to the “La La Land” soundtrack. Natalie came home and taught herself to play one of the songs from the movie on her cello. All in all it was a great night in Naples!

 

Here’s an interesting article from the Naples Daily News: 4 Southwest Floridians remain on Forbes 400 wealthiest Americans list

Southwest Florida is still home to four of the richest Americans.

While 169 billionaires didn’t make the cut this year, the four residents are holding their own on “The 400” list. Three of them rank higher than President Donald Trump, who dropped to No. 248 this year due to a weakening in the New York City retail and office real estate market, as well as new information, according to Forbes.

Forbes said the billionaires on its 2017 list have a record-breaking combined total net worth of $2.7 trillion, increasing from $2.4 trillion in 2016.

The price of entry this year? It hit a record $2 billion, up from $1.7 billion in 2015 and 2016.

Of the four in Southwest Florida who remain on the list, Shahid Khan, 67, still ranks the highest — at No. 72. He fell two spots from No. 70 last year. Khan, who lives in Naples, owns the Jacksonville Jaguars and the United Kingdom’s Fulham football club, as well as auto parts maker Flex-N-Gate. He’s worth $7.1 billion. Khan’s net worth was $6.9 billion a year ago.  He arrived in the United States from Pakistan at age 16 “with just $500 in his pocket,” according to Forbes.

Reinhold Schmieding, 62, the founder of medical device manufacturer Arthrex in North Naples, moved up 10 spots in the rankings this year, landing at No. 118. He’s now worth $5 billion — up from $4.4 billion last year. “While notoriously press-shy, the founder likes to keep his legacy intact; he’s kept his $50 drafting table where he drafted his first operating instruments,” according to Forbes.

Richard Schulze, 76, the founder of Best Buy who lives in Bonita Springs, moved up 20 spots this year, weighing in at No. 219 with a net worth of $3.4 billion. A year ago Schulze’s net worth was at $2.8 billion. According to Forbes, Schulze is still one of Best Buy’s biggest individual shareholders with 13 percent and “aims to give away $1 billion of his fortune in his lifetime, through his family foundation.”

Tom Golisano, 75, another local philanthropist and Naples resident, ranked 264th this year, with a net worth of $3 billion. He stood at No. 232 last year, with a net worth of $2.9 billion. Golisano founded payroll firm Paychex in 1971 with just $3,000 and a credit card, according to Forbes. He remains chairman of the publicly traded company.

This year’s list includes 32 billionaires from Florida.

Once again Bill Gates, co-founder of Microsoft, tops the list (for the 24th year in a row), with a net worth of $89 billion this year. Coming in second is Amazon’s Jeff Bezos, worth $81.5 billion.

There were 22 newcomers on the list this year. The average net worth of the Forbes 400 members has hit a record high of $6.7 billion.

 

Happening in Naples in November 2017:

November 2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
2
3
St Monica’s Farmer’s Market
Florida Panther Festival
5
Sip and Shop Sundays
6
Pups ‘n’ Books
7
Walking Tour of Naples Historic District
8
Sewing Classes for Kids
9
Tour of Historic Palm Cottage
10
Fitness Camp at Miromar
11
Farmer’s Market Shoppes at Vanderbilt
12
Yoga in the Park
13
Living with Florida Panthers
14
Free Tuesday Morning Nature Talk
15
Turtle Tales
16
Third Thursday on Third St S
17
Alice in Wonderland
18
Heroes for Homeless 5k
19
Taste of Collier
20
Walking Tour of Naples Historic District
21
Mercato Movies on the Lawn
22
Thanksgiving Crafters Choice
23
Tai Chi in the Garden
24
Tree Lighting Ceremony Venetian Village
25
Tour of Historic Palm Cottage
26
Sip and Shop Sundays
27
St Monica’s Farmer’s Market
28
Free Tuesday Morning Nature Talk
29
The Nutcracker-Artis
30
Tai Chi in the Garden

 

Official October Climate Data at Naples Airport:

October 16
YTD 16
October 17
YTD 17
Normal YTD
Rainfall in inches
4.60
44.2
3.29
58.65
48.40
Record High October Rainfall
17.52 (1951)
Record Low October Rainfall
.05 (1977)
High October Temperature
92
93
Low October Temperature
58
53
Record High October Temperature
95 (1944)
Record Low October Temperature
46 (1957)

Temperatures in October were about average for the month. The average max temperature is 86.9…we recorded 85.4. Rain was a little below average in October. YTD number is still significantly more than normal, however. We have had more rain thru October than in a typical full year in Naples.

 

Book Review: “The Child Finder” by Rene Denfeld 

Engrossing, beautifully written, and redemptive, The Child Finder is the story of a private investigator, Naomi, searching the woods and fields, mountains and cities for missing children as deeply as she is for her own past. Told from her point of view and that of a missing child, their stories and histories are meticulously woven and culminate in a breath-taking climax.

Horrifying subjects are handled deftly with an absence of graphic details that allow the reader to persist with the search. Characters are well developed, believable, and complex–even the bad guys. There is no more horrific subject than the kind of monstrous child abduction, abuse, and captivity depicted in this novel. How could I stand reading such a book? It was only because of the author’s deep understanding of, and compassion for, child victims and survivors. What I will remember most about this book is not the horrors but the hope.

Fans of literary suspense will not be able to put down book.

 

Restaurant Recommendation: Mr. Big Fish 754 Neapolitan Way, Naples

We ate here almost by accident the other night. We were early for the restaurant we had booked and since they had no spot for us yet, we wandered down the sidewalk and spotted Mr. Big Fish. We decided to give it a try and were very pleased with the results. They found a table for us almost immediately, even though the place was quite full. Our server was attentive, pleasant and knowledgeable and we had a great meal as well. Later we learned that the owner, Stephen Karakosta, is a veteran of the restaurant business. His parents and grandparents founded Mel’s Diner so he has a lot of experience.

Here are a few recent reviews on Trip Advisor:

“Such a friendly happy to help place to eat. The food was excellent, in fact we visited twice it was so good. Chowder, scallops, Red snapper…. I could have tried everything on the menu! It was only 2 weeks after the hurricane and Naples got it bad but the staff were upbeat, cheerful, the restaurant was sparkling clean, they all did a fantastic job of the cleanup and business as usual.”

“We had a delicious family dinner. Mr. Big Fish has the best kids menu we have ever seen. The clam chowder, Caesar salads, and the stuffed shrimp were some of our favorites. Taking the key lime pie home and it looks divine. Very family friendly. Loved the treasure chests for the kids.”

“You can’t go wrong with the Happy Hour drinks and appetizers at Mr. Big Fish. If you are looking for a great seafood dinner at a moderate price, this is the place. I love anything they serve with shrimp since they are very good at preparing it so it doesn’t come out rubbery. Go early to get a seat or come later and wait at the bar!”

 

Naples Real Estate:

Here are the YTD October 2017 Naples/Bonita market statistics.

For the first ten months of 2017, there were 10,493 closed sales of existing homes in all of Naples and Bonita. This compares with 10,079 closed sales for last year. This represents about a 4% year-to-year increase for existing home sales. It should be noted that a significant number of new homes were sold during this period that do not appear in the Multi-List System we use in Naples. Also, hurricane Irma impacted the number of closed sales in September.

Here’s an interesting chart comparing 2017 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
January -October 2016
10,079
4,812
3,783
587
732
165
January – October 2017
10,493
4,753
4,099
663
780
198
Difference
+414
-59
+316
+76
+48
+33
% Change
+4%
-1%
+8%
+13%
+7%
+20%

Almost all categories are up over last year. The first ten months of 2017 have been positive for existing home sales. Growth slowed in October, but sales of existing homes stayed strong for the first ten months of 2017.

The inventory of available property remains down from last year. As the following table shows, the level of inventory varies dramatically by price point:

Naples Home Inventory As of November 1, 2017
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
12,328
5,605
4,805
790
902
226
Average Number Sold per Month
1,027
467
400
66
75
19
Total Available for Sale
6,363
1,970
2,739
526
817
311
Months of Supply as of November 1, 2017
6
4
7
8
11
16

The inventory levels increased about 7% from last month from 5,966 properties to 6,363. This was the first increase in seven months. Typically there are a good number of listings which enter the market in October each year. Keep in mind that the figure is still a 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 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 311properties available. During the last 12 months, 226 properties in this price range have sold…which means an average of about 19 per month. At that rate, the 311 homes available represent about 16 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 November 1, 2017 there were 25 active listings in Kensington.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
4
$1,299,000
$1,650,000
$405
195
Villas
6
$485,000
$819,900
$272
214
Coach Homes
15
$337,900
$689,000
$204
202
Total
25

There have been 25 closed sales in the past 12-month period. At this average selling rate of 2.1 properties per month, the 25 homes listed represent about 12 months of inventory on average. The number of homes available is one less than last month and it still is a buyers’ market for those available.

There are no pending sales and 2 pending sales with contingencies on November 1.

 

Riverstone Real Estate: 

Riverstone is the community where Jeff and Nicola live. 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 November 1, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
29
$455,000
$1,290,000
$229
110

 

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
5
6
4
7
7
Average Price per Sq. Ft.
$221
$214
$233
$220
$253
Average Number of Days on Market
126
147
92
101
86

Available inventory is 2 less than last month. As of November 1st there were 29 active listings, 1 pending sale and 6 pending sales with contingencies. The MLS system lists 53 spec and resale homes sold in the last 12 months, which means there is slightly over six months of inventory in Riverstone.

 

Thanks for taking the time to read our newsletter. Give us a call if we can help with any of your real estate questions at 239-398-0028 (Rae) or 239-451-9351 (Nicola).

Rae & Nicola

Wakelin Realty Team October 2017 Newsletter

Hello from Naples!

Of course the big news in Naples last month was Hurricane Irma. As the days before the storm rolled by, it looked like the East Coast of Florida was going to be hit. Then the models began to shift and Naples became more and more a likely target. The weather forecasters did a terrific job tracking the storm and keeping us updated. The coverage was non-stop and really frightening, with predictions of a huge storm surge. It was easy to imagine your house being inundated with a 15-foot wall of water…even if you lived miles from the coast! It seemed like waiting for your date with the executioner!

Rae and Fred had always known they would stay and ride it out. They had been through Hurricanes Charlie and Wilma and with two cats and a bird; they knew that leaving would be extremely difficult. Nicola and Jeff decided to leave with their two daughters. They got a flight to Boston thru Atlanta on Friday before the storm on Sunday. They ended up having a nice impromptu vacation in Boston with the girls.

The hurricane was ferocious! From noon Sunday until the early morning hours Naples got hammered. Most places in Naples lost electricity in the early afternoon. Around 3:45 PM (just before the eye went over Naples) a window in Rae & Fred’s den downstairs blew out. After the window went, which was at the peak of the hurricane, there were a few minutes they thought the house was in danger. There was a reported wind gust not far away at the Naples airport of 142 mph around that time. It was very scary for them.

However, there was more good news than bad. The dreaded storm surge never materialized. Structurally (except for the window which was not impact glass) Rae & Fred’s home is in great shape. They have a few pool screens that need replacement as well as a few roof tiles. They have decided to replace the blown out window with hurricane “impact glass”. In the majority of area neighborhoods, the most significant damage was to landscaping…trees, palms, shrubs etc.…as well as pool cages and signage. The major inconvenience was a lack of electricity. Also the sewer system was overwhelmed for a while because the pumping system lacked electricity.

Nicola, Jeff and the girls got back on Wednesday. Kensington got power back on Thursday so Nicola, Jeff, Natalie and Riley moved in with Rae and Fred until their neighborhood’s power was restored Sunday night.

It is remarkable how quickly debris is being cleaned up. Driving through Naples now, there are very few signs that a major hurricane passed overhead two weeks ago. Many of the residents here would never have dreamed that Naples would emerge in such good shape after a direct hit from a major hurricane.

 

Here’s a recent article from the Naples Daily News:

Hurricane Irma: Structural damage in Old Naples appears far and few in between.

Snapped palm fronds, broken branches and the occasionally uprooted tree littered the sidewalk along Naples’ Fifth Avenue South Monday morning after Hurricane Irma swept through the downtown street.

Only a few pedestrians and bicyclists ambled along the boarded-up storefronts and restaurants, less than 24 hours after Irma wreaked havoc on the Gulf coast.

Structural damage in Old Naples appeared far and few in between. There were a few bent street signs and some twisted metal pieces.

The dreaded post-hurricane storm surge also didn’t arrive though parts of Gulfshore Boulevard and Gordon Drive were flooded.

At the Naples beach angry waves crashed onto the pressed sand, but the Naples Pier appeared intact. It was closed Monday morning but a few curious passers-by still walked down the wooden planks.

Cathy Marinaro and her son Joe rode their bicycles to the beach to observe the raucous waves.

They, too, didn’t observe as much damage as expected. “It’s funny all the trees fell away from the houses,” said Cathy Marinaro, 53. “Everything is behind them, beside them, but none fell on the houses.”

The duo stayed inland with friends to ride out the storm. “They hype up these storms all the time,” said Joe Marinaro, 23. “It’s never what they say it’s going to be.” But near their neighborhood off Sandpiper Street and Royal Harbor, signs of the storm were more ubiquitous, said Cathy Marinaro. “There trees are all over the roads,” she said. “It’s much worse there. We have a lot of big trees in the road.”

Shelley “Sea Shelley” McKernan and her dog Sgt. Walt toured the neighborhoods near the Naples Pier to assess the damage Monday. “I’ve just been going around checking on everything,” said McKernan, 35. “Everybody’s home seems to be fine. Trees are down but for the most part it’s all good.”

 

Happening in Naples in October 2017:

October 2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
2
Free Boardwalk Tours
3
Walking tour of Naples Historic District
4
Tour Palm Cottage
5
Tai Chi in the Garden
6
Pirate Festival
7
Third Street South Farmer’s Market
8
Sip and Shop Sundays
9
Giants of the Everglades Art Exhibit
10
Collier County’s Historic Places
11
Walking tour of Naples Historic District
12
Turtle Tales
13
Haunted Gross House
14
Free Boardwalk Tours
15
Zombie Fun Run
16
Tour Palm Cottage
17
Chess Instruction K-12
18
St John Farmer’s Market
19
Tai Chi in the Garden
20
Boo at the Zoo
21
Farmer’s Market
22
Giants of the Everglades Art Exhibit
23
Music Together
24
Mercado Trick or Treat Halloween Extravaganza
25
Art After Dark-Artis
26
Halloween Fun
27
Stone Crab Festival
28
Boo Bash Waterside
29
Tour Palm Cottage
30
So You Think You Can Dance Live
31
Fifth Avenue Halloween Spooktacular

 

Official September Climate Data at Naples Airport:

September 16
YTD 16
September 17
YTD 17
Normal YTD
Rainfall in inches
5.57
39.60
18.03
55.36
48.40
Record High September Rainfall
20.84 (2001)
Record Low September Rainfall
2.95 (2004)
High September Temperature
93
93
Low September Temperature
74
73
Record High September Temperature
98 (1983)
Record Low September Temperature
65 (1983)

Temperatures in September were about average for the month. The average max temperature is 89.9…we recorded 89.4. Hurricane Irma boosted our rain total for the month. That makes two months in a row with heavy rainfalls. In fact, our YTD rainfall thru September now totals more than our typical amount for the year. Our normal rainfall for the year in Naples is just over 50 inches. We already have over 55 inches reported at the airport. There is no longer a drought in SW Florida!

 

Book Review: “A Column of Fire” by Ken Follett

Readers have waited three years for a new Ken Follett novel and almost ten for the next, third, book of his Kingsbridge story. So his new novel has arrived and it is a real Ken Follett. If you know novels by Ken Follett, you know what to expect: tension, entertainment, strong characters and a lot of well-researched knowledge.

Ken Follett gets back to Kingsbridge, his fictional town in England, for the third time, ten years after “World Without End” and 28 (!) years after “The Pillars of the Earth”. But it is not really a sequel. Yes, he makes a lot of references. However the plot is individual and you can absolutely read this book without even seeing the other two.

This is not a medieval novel, as some say. Set in Modern History, right after the reformation by the German monk Martin Luther (500 years ago). It plays a little later in the 16th century when in England the Catholics burnt the Protestants and then the Protestants burnt the Catholics on the stake. When France was devastated by terrible wars of religion and during the time Spain reached the heyday of its power – and gave it away to an awakening England, powered by religious tolerance and the beginning of democracy.

Like all Ken Follett novels this one is a real page-turner. Because Follett is such a good writer, you never lose track. There are so many persons and plots. This guy can write and he never stops thinking about his readers. Many are drawn to his books because you can learn so much about history. The most important events of the 16th century are described in detail.

Ken Follett is one of my favorite authors. He takes history and makes it human. The topic of social and religious conflict still resonates with our world today. This book allows you to live history!

 

Restaurant Recommendation: Vegan Kitchen 794 Neapolitan Way Naples

We are always on the lookout now for restaurants that serve vegan dishes. Here is one we love that is completely vegan. The food is delicious…even for confirmed carnivores!

Loving Hut in Naples closed a couple of weeks ago, but the local franchisees jettisoned the vegan chain and reorganized to become Vegan Kitchen in a new location less than a mile south at Neapolitan Way.

After serving its vegan cuisine on Pine Ridge Road for seven years, some of Loving Hut’s local partners recently transitioned from an affiliation with the international chain to launching the local Vegan Kitchen on Aug. 23, said Brenna Tu, one of the restaurant’s partners helping with the transition. “Some of our partners have gone separate ways there and then they formed a new partnership here,” Tu said. “Not necessarily everything’s the same, because it’s a completely different newly formed group.”

Considering that many similarities exist between the plant-based menus of Loving Hut and the new Vegan Kitchen, some of the restaurant’s clients and customers are confused, thinking the restaurant merely relocated and changed names, Tu said. “It’s not a name change. There’s no affiliation with Loving Hut,” she said. “I want to make that clear because it’s a franchise over there and they’re very sensitive about that.”

“It’s completely vegan. Everything here is 100 percent vegan, non-GMO for sure. The people who took over really do follow that line of thinking,” Tu said. “If you are going to go vegan and healthy, you have to make sure you’re non-GMO. You have to be conscious of what you’re bringing in. The stuff we buy is fresh. Even our soup stock, we make it ourselves. It’s fresh from vegetables and all that.”

The restaurant uses a virtual cornucopia of vegetables and non-meat proteins to create an Asian fusion type of cuisine, Tu said. “Look at our menu,” she said. “It’s Vietnamese. It’s Thai. It’s Chinese. It’s Malaysian, Indonesian, so all that fusion of flavor, because a lot of those countries and cultures have a monastic kind of following and over thousands of years they developed certain recipes and its traditional embedded in that culture and we kind of just pick and choose.”

Vegan Kitchen offers entrees, house specials, bowls, rice and noodle dishes, wraps, appetizers, salads and desserts. More than 20 menu items are marked as gluten free or gluten-free optional.

“We do now have a heavier push for gluten free because a lot of our clientele is gluten-sensitive and people are being more aware of that,” Tu said. “They’re not necessarily celiac gluten-free, but they are gluten sensitive.”

For a change of pace, you should give Vegan Kitchen a try.

 

Naples Real Estate:

Here are the YTD September 2017 Naples/Bonita market statistics.

For the first nine months of 2017, there were 9,608 closed sales of existing homes in all of Naples and Bonita. This compares with 9,256 closed sales for last year. This represents about a 4% year-to-year increase for existing home sales. It should be noted that hurricane Irma impacted the number of closed sales in September.

Here’s an interesting chart comparing 2017 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
January –Sept. 2016
9,256
4,396
3,473
542
687
158
January – Sept. 2017
9,608
4,365
3,716
615
723
189
Difference
+352
-31
+243
+73
+36
+31
% Change
+ 4%
-1%
+7%
+13%
+5%
+20%

All categories are up or even with last year. The first nine months of 2017 have been positive for existing home sales. Growth slowed in September, but sales of existing homes stayed strong for the first nine months of 2017.

The following table shows the level of inventory varies dramatically by price point:

Naples Home Inventory As of October 1, 2017
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
12,294
5,446
4,840
828
934
246
Average Number Sold per Month
1,025
454
403
69
78
21
Total Available for Sale
5,966
1,843
2,555
523
744
301
Months of Supply as of October 1, 2017
6
4
6
8
10
14

The inventory levels decreased about 5% from last month to 5,966 properties. This was the seventh monthly decrease in a row. 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, that a significant number of new homes are not included in this number. That’s because they are brand new homes being sold by developer 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 301properties available. During the last 12 months, 246 properties in this price range have sold…which means an average of about 21 per month. At that rate, the 301 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 October 1, 2017 there were 26 active listings in Kensington.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
4
$1,299,000
$1,650,000
$405
163
Villas
6
$485,000
$819,900
$275
183
Coach Homes
16
$347,500
$689,000
$206
166
Total
29

There have been 24 closed sales in the past 12-month period. At this average selling rate of 2 properties per month, the 26 homes listed represent about 13 months of inventory on average. The number of homes available is three less than last month but it still is a buyers’ market for those available.

 

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 October 1, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
31
$465,000
$1,400,000
$224
92

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
9
6
8
5
Average Price per Sq. Ft.
$216
$231
$218
$219
$246
Average Number of Days on Market
170
118
76
113
104

Available inventory is 6 less than last month. As of October 1st there were 31 active listings, 1 pending sales and 2 pending sales with contingencies. The MLS system lists 53 spec and resale homes sold in the last 12 months, which means there is currently a 7-month supply of inventory.

 

Listing Book:     

A great service for our clients…please check it out…Listingbook.com. Do you want to be able to search the Multiple Listing Service like a realtor? With “Listing Book” you will have access to the same database that we use in the real estate business. You can access it 24/7 from any computer. It will provide you with up-to-the-minute data on any properties you have interest in. Email us with Listing Book in the subject line and we will be happy to set you up.

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

Wakelin Realty Team September 2017 Newsletter

Hello from Naples!

Rae and Fred had two great events in August. First, they got to cruise in Maine with a couple who is among their oldest and dearest friends. They have a boat that is perfect for cruising with two couples. They drove from Boston to Northeast harbor near Acadia National Park and began their cruise there. They traveled back down the Maine coast to their home port of Yarmouth, which is near Portland. They stopped at several beautiful harbors on the way, including Boothbay, Tenants and Seal Bay. They were on the boat for nine days and had a few days of fog (it wouldn’t be cruising in Maine without it) but enjoyed some beautiful sun-filled days also. It was a wonderful trip…except for Fred’s kidney stone which we won’t get into! Then they returned to the Boston area for Fred’s high school reunion. Since Rae attended the same high school, it was fun for all! The classmates had a big gathering at dinner on Saturday night and then a breakfast together on Sunday morning.

On another note, there is a new driver in the family. Congratulations to Nicola & Jeff’s daughter, Natalie who turned 15 in August and went straight to the DMV for her permit. She is doing great so far!

 

Here’s an interesting article from the Naples Daily News:

Naples talks on buying downtown lot for parking garage stall.

Negotiations on the controversial Naples proposal to acquire a downtown property — potentially for a new parking garage — have stalled while the seller is out of the country on vacation.

Since the Naples City Council agreed last week to lower its offer for the lot at Fourth Avenue South and Fourth Street South, Naples officials have yet to discuss the new terms with David Hoffmann, of Hoffmann Commercial Real Estate, which owns the property, City Manager Bill Moss said. “The only feedback I’ve got is that he’s out of the country,” Moss said. “His team is going to talk to him when he gets back.”

Hoffmann didn’t return messages left by the Naples Daily News.

The council on Aug. 16 lowered the city’s purchase offer to $4.6 million after turning down the initial $6 million contract that officials had negotiated with Hoffmann. The city has eyed the property for a 350-space parking garage, but that plan stalled after large public opposition to the proposal at the Aug. 15 council hearing.

Mayor Bill Barnett had said he was concerned Hoffmann would pull out of the deal after the council lowered its offer. But the city still has time to discuss the offer with Hoffmann before the council’s next regular meeting Sept. 6, Barnett said. “We’re not under the gun, so to speak,” he said.

Barnett committed to holding more public hearings before the council makes a final decision on whether the lot, if purchased by the city, would be used to construct a garage. “Regardless of whether the offer is accepted, denied or if anything is countered — the community at large is going to have time — and I can’t say it strongly enough — to be able to voice their opinions and vet it,” Barnett said.

Business leaders on Fifth Avenue South had urged the council to acquire the lot and build the garage to provide more parking for the area’s businesses and satisfy the city’s decades-old plan for a third garage in the commercial district. The city owns two other garages near Fifth Avenue — both on Eighth Street South, at Sixth and Fourth avenues.

Jim Smith, president of the Fifth Avenue South Business Improvement District, said he is concerned Hoffmann won’t agree to the city’s new terms. “I’m not optimistic that he would accept the offered price,” Smith said. “It just may be a moot point at this time.”

Members of the Old Naples Association, the downtown homeowners group that organized much of the opposition to the garage proposal, are suggesting that plan be nixed.

John Lehmann, president of the Old Naples Association, said the group would support a private residential development at the property, including private parking for as many as 22 condos. “We look forward to working with the owners on the details of such a concept — especially regarding mitigating neighborhood impacts — so that we can lend our full support for this outcome,” Lehmann said.

 

Happening in Naples in September 2017:

September 2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
2
3
Walking Tour of Naples Historic District
4
Free Boardwalk Tours at Corkscrew
5
Tours of Palm Cottage
6
Sewing Classes for Kids
7
Tai Chi in the Garden
8
Find it Fridays at Everglades Wondergarden
9
Farmer’s Market Shoppes at Vanderbilt
10
2nd Annual Naples Memorial Stair Run
11
Girl scout Parent Interest Meeting
12
TED talks and Teens
13
Crystal Bowl Meditation
14
Fitness Camp
15
Tours of Palm Cottage
16
3rd St South Farmers Market
17
Sip and Shop Sundays
18
Walking Tour of Naples Historic District
19
Rosh Hashanah Drop in Crafts
20
Blackout Poetry
21
How to Meet a Dog
22
Giants of the Everglades Art Exhibit
23
Museum Day Live
24
Yoga in the Park
25
Tours of Palm Cottage
26
Where do Florida Panthers Live?
27
Art After Hours-
Artis
28
Creative Writing Club
29
Art Smarts
30
National Estuaries Day-Rookery Bay

 

 

Official July Climate Data at Naples Airport: 

August 16
YTD 16
  August 17
YTD 17
Normal YTD
Rainfall in inches
10.72
34.03
15.55
37.33
36.52
Record High August Rainfall
15.55   (2017)
Record Low August Rainfall
1.46   (1952)
High August Temperature
95
95
Low August Temperature
73
73
Record High August Temperature
98 (2007)
Record Low August Temperature
67 (1972)

Temperatures in August were a little cooler than normal for the month. The average max temperature in August is 91.0…we recorded 90.4. Reported rainfall at Naples Airport broke the record for the month of August. We had a tremendous amount of rain! The official airport total is now slightly above normal YTD. Some severe flooding in Lee and Collier counties was reported. Many neighborhood lakes are spilling over their banks.

 

Book Review: “The Tea Girl of Hummingbird Lane” by Lisa See

Growing up picking tea leaves each season with her family and living without electricity or running water in a hut perched on bamboo stilts, Li-yan’s life is a long way from the modern world of the late 1980’s. Trained to follow in her mother’s path as a midwife, Li-yan struggles to accept her path and works hard in school hoping to be the first in her village to qualify for upper level education that would open up other possibilities. Fate, however, intervenes through two men destined to change her life, one through love, the other through the tea business, helping she and her village become part of the modern world.

Years later, across the globe, a young Chinese girl adopted by Americans wonders at her roots and the special tea cake that was wrapped in her blankets when she was left at the orphanage. Who was her mother and what is the significance of this tea cake?

Lisa See has written a wonderful book. “No coincidence, no story,” something Li-Yan’s mother tells her. The story is poignant and powerful. It takes you away to another place, another culture. It’s rich with history, tradition and the complex, complicated relationships family members and relatives.

There is a saying in China when drinking water, consider the source. The same is true with tea – not only is the tea important but the water source is equally important. Lisa See’s new book “The Tea Girl of Hummingbird Lane” symbolizes everything about that saying. It seamlessly blends everything about Lisa See’s source, her Chinese ancestry, into a beautifully told story. Lisa builds the backstory of the characters, including the character of tea, and then throws in a great surprise at the end. I did not see that one coming!

 

Restaurant Recommendation: 21 Spices by Chef Asif 4270 Tamiami Trail E.

A fabulous Indian restaurant on the East Trail is waiting for you! 21 Spices by Chef Asif invites you to come on an epicurean adventure, an indulgence of flavors, style and artistry, all lovingly and carefully presented for your enjoyment.

Chef Asif R. Syed was born and raised near Hyderabad, India, known as the ancient City of Kings and Pearls and famous for its Muglai cuisine. Originally drawn to art and painting, Chef Asif trained and worked as a chef in India after completing his degree in hotel management and catering. His progressive style of fusion cooking was developed and honed after spending time travelling and working in Europe.

Explore the diverse flavors of classical Indian cuisine, featuring the freshest season ingredients with a modern presentation, innovative culinary techniques. The menu includes include a wide selection of outstanding biryanis, curries and vegetarian delights, refreshing salads delivered in artistic fashion, mouthwatering Tandoor-roasted lamb, prawns, fresh fish, chicken, and kabobs flamed in an open-style kitchen. Chef Asif’s delicious homemade chutneys accompany many of the courses. Elegant appetizers and an array of stuffed tandoori naan are offered as part of the Small Bites Menu in the Wine Bar. Saffron-ginger ice cream and unique desserts and after dinner drinks provide a sweet conclusion to your meal.

We have eaten here many times and have never been disappointed. It is one of our favorite restaurants in Naples.

Here are a few recent reviews on Trip Advisor:

“We have been looking forward to trying this restaurant for a while now, and finally had the opportunity tonight. Indian food is one of our favorites and try the restaurants everywhere when we are traveling. The decor here is beautiful, the service was excellent. The food was very good. We would go back to try some other dishes.”

“The atmosphere is amazing!!! Gorgeous! The staff was so friendly and helpful! The manager was incredibly nice and friendly! And last but not least, the food!!!! Oh my goodness! So so so good! Best restaurant!”

“I recently went for happy hour with my coworkers. The drink prices were good and the signature drinks were excellent. The food was very good. We had a variety of happy hour dishes including chicken Tikka skewers, spicy shrimp, garlic naan and naan with lamb. We will definitely go back.”

 

Naples Real Estate:

Here are the YTD August 2017 Naples/Bonita market statistics.

For the first eight months of 2017, there were 9,067 closed sales of existing homes in all of Naples and Bonita. This compares with 8,378 closed sales for last year. This represents about an 8% year to year increase for existing home sales.

Here’s an interesting chart comparing 2017 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
January -August 2016
8,378
3,961
3,133
504
632
148
January – August 2017
9,067
4,102
3,506
592
686
181
Difference
+689
+141
+373
+88
+54
+33
% Change
+ 8%
+4%
+12%
+17%
+9%
+22%

All categories are up from last year. The first eight months of 2017 have been positive for existing home sales. Growth increased a bit in August, and sales of existing homes stayed strong for the first eight months of 2017.

As the following table shows, the level of available inventory varies dramatically by price point:

Naples Home Inventory As of Sept. 2, 2017
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
12,617
5,812
4,860
805
912
228
Average Number Sold per Month
1,051
484
405
67
76
19
Total Available for Sale
6,293
1,926
2,712
551
788
316
Months of Supply as of Sept. 2, 2017
6
4
7
8
10
17

The inventory levels decreased about 4% from last month to 6,293 properties. This was the sixth monthly decrease in a row. 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, 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. This analysis is strictly related to homes on the secondary market.

This is still a buyer’s market for existing homes priced above $300,000. In the over $3 million market, for example, there are 316 properties available. During the last 12 months, 228 properties in this price range have sold…which means an average of about 19 per month. At that rate, the 316 homes available represent about 17 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 September 2, 2017 there were 29 active listings in Kensington. This is one more than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
6
$1,199,000
$1,650,000
$395
201
Villas
6
$485,000
$819,900
$275
154
Coach Homes
17
$347,500
$689,000
$204
158
Total
29

There have been 25 closed sales in the past 12-month period. At this average selling rate of 2.08 properties per month, the 29 homes listed represent about 14 months of inventory on average. The number of homes available is one more than last month and it still is a buyers’ market for those available.

There was 1 pending sale and no pending sales with contingencies on September 2nd.

 

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 September 2nd, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
37
$465,000
$1,400,000
$224
92

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
9
8
11
6
Average Price per Sq. Ft.
$217
$230
$206
$214
$257
Average Number of Days on Market
141
108
66
90
78

Available inventory is 2 less than last month. As of September 2nd there were 37 active listings, 2 pending sales, and 4 pending sales with contingencies. The MLS system lists 53 spec and resale homes sold in the last 12 months so there is currently an 8-month supply of inventory.

 

Listing Book:   

A great service for our clients…please check it out…Listingbook.com. Do you want to be able to search the Multiple Listing Service like a realtor? With “Listing Book” you will have access to the same database that we use in the real estate business. You can access it 24/7 from any computer. It will provide you with up-to-the-minute data on any properties you have interest in. Email us with Listing Book in the subject line and we will be happy to set you up.

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

Wakelin Realty Team August 2017

Hello from Naples!

Last month Rae and Fred made their annual trek to New Hampshire with a bunch of swim pals from Naples. This year they decided to have their own event on a beautiful lake in Meredith…a small vacation town in the lakes region of the state. One of the couples who are seasonal visitors to Naples, lives on Lake Waukewan. The group took advantage of their hospitality and used their house as home base for their activities. They had a wonderful time with several great lake swims, picturesque hikes and delicious dinners.

After four days, part of the group left for Wiscasset, Maine where Fred and his siblings own a house. They spent a long weekend together with trips to the LL Bean headquarters in Freeport, lunch at Linda Bean’s restaurant, Boothbay Harbor (where they did a whale and puffin watch) and beautiful Wiscasset.

After Rae and Fred’s guests left, they stayed in Maine for a few extra days and organized many boxes of collectibles and memorabilia, which they had stored in the house for years. These items have since been shipped to Naples. Now the fun begins; trying to sort them out…their cabana is filled with memorabilia at the moment! They also sent off 4,500 photographic slides (which Fred’s father had taken years ago) to be digitized. Great family memories that they haven’t seen for many years will soon be revealed!

All in all it was a fun and productive trip.

 

Here’s an interesting article from the Naples Daily News:

Luxury high-rise condos announced near downtown Naples.

A developer has unveiled detailed plans for a luxury modern urban high-rise near downtown Naples with an exclusive private rooftop sky club. The nine-story building, simply called Trio, will have 12 extended-stay hotel rooms and 24 residential condominiums overtop shops and restaurants. The sleek concrete and glass tower will be built at the corner of U.S. 41 and Davis Boulevard, just outside the Naples city limits, in the Gateway Triangle, long targeted for redevelopment.

The name of the project comes from the pizza-slice shape of its land. The developer, fittingly going by the name Trio Southern Holdings LLC, released the condominiums for sale this week, selling one of the penthouses almost immediately. Prices range from $850,000 for a one-bedroom with a den to $2.69 million for a larger three-bedroom penthouse. “We have 85 people on a list to meet with us. We only have 23 units left to sell. It’s not a lot,” said David Bartley Sr., owner of Bartley Realty LLLP, the project’s exclusive broker.

The first business, Yoga Loft, a high-end yoga studio, has reserved one of five commercial spots on the bottom floor. The tower will stand out as the tallest in the area, stretching skyward to 112 feet. If it was in the city it couldn’t be taller than 42 feet. One of the tower’s more unique features will be its sky club, modeled after rooftop lounges in larger, more cosmopolitan cities such as Miami and New York, said Morgan Fry, with Bartley Realty. “It’s not going to be open to the public. It’s going to be a members-only sky club. It’s going to be the first one in Southwest Florida, let alone Naples,” Fry said.

Bartley and Fry did some traveling to help the developer come up with the right aura for the building, making several trips to Miami for inspiration. “Obviously we can’t bring Miami to Naples,” Fry said. “It wouldn’t work.

“The developer is confident the sky club, named Club IX (for the ninth floor), will thrive. Spanning 8,000 square feet, the nautical-themed club will include three mineral pools, poolside cabanas, water fountains and custom lighting to help set the mood. “They have a lot in the works up there,” Fry said. For residents, club membership will be mandatory, and it will be free for the first year. Hotel guests will pay a resort fee that will include use of the club. Pricing details are still being ironed out. The developer is still awaiting site development plan approval from Collier County. Final approval is expected by August. A rezoning is not required.

“We couldn’t be happier really. The county has responded very well,” Bartley said.

Construction is expected to start in October, with a 14-month build-out. The project could be completed by December 2018.

 

Happening in Naples in August 2017:

August     2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
Free Tuesday Morning Nature Talk
2
Walking Tours of Naples Historic District
3
Tours of Historic Palm Cottage
4
Sister Act Teen Production
5
Farmer’s Market Shoppes at Vanderbilt
6
Sip and Shop Sundays at Waterside
7
Free Boardwalk Tours at Corkscrew
8
Free Kids Movies at Paragon
9
Boot Camp at Koreshan
10
Tai Chi in the Garden
11
Parents Night Out
12
Walkers Paddle Boat Race 2017
13
WONDER Kids at Botanical Gardens
14
Free Boardwalk Tours at Corkscrew
15
Mercato Movies on the Lawn
16
Baby Rhyme Time
17
Third Thursday on Third St South
18
Find it Fridays at Everglades Wonder Gardens
19
Summer Jazz on the Gulf
20
Walking Tours of Naples Historic District
21
Solar Eclipse at Golisano
22
Auditions for Elf the Musical at Sugden
23
Boot Camp at Koreshan
24
Tai Chi in the Garden
25
Fitness Camp at Miromar
26
Barnes and Noble Storytime
27
Sip and Shop Sundays at Waterside
28
Free Boardwalk Tours at Corkscrew
29
Free Tuesday Morning Nature Talk
30
After Hours Artis-Naples
31
Tours of Historic Palm Cottage

 

Official July Climate Data at Naples Airport:

July 16
YTD 16
July 17
YTD 17
Normal YTD
Rainfall in inches
6.30
23.31
11.24
21.78
27.94
Record High July Rainfall
21.49 (1985)
Record Low July Rainfall
1.30 (1944)
High July Temperature
95
99
Low July Temperature
73
73
Record High July Temperature
99 (2017)
Record Low July Temperature
65 (1974)

Temperatures in July were a little cooler than normal for the month. The average max temperature in July is 91.2…we recorded 90.5. We had one short spell where the temperature reached 99 and broke the record for the month. Naples still has yet to ever record a temperature of 100 degrees or more. Reported rainfall at Naples was well over the average for the month. The official airport total is now almost 80% of normal. Many areas of Collier County are well above the normal figure YTD.

 

Book Review: “House of Spies” by Daniel Silva

House of Spies continues Daniel Silva’s adventures of Gabriel Allon as the Chief of Israel’s intelligence service. From London to Marseilles to Morocco, get ready for high adventure and intrigue as Allon and his team close in on one of the deadliest terrorists since Bin Laden. It’s a terrific read.

Many if not most writers of “series” type books with a central figure dominating the action tend to run out of steam. The later books suffer in comparison to the earlier works. Not with Silva, however. Gabriel continues to be a believably complex character and the author weaves in today’s concerns in a seamless manner.

This book finds him at the top of his game and perhaps the standard by which other writers of this genre must be compared. House of Spies is wonderful, perhaps his best. The twists and turns are just about without peer. He does not seem to rush anything into print, but I can hardly wait for his next book.

 

Restaurant Recommendation: The Dock Crayton Cove

Since Fred was diagnosed with coronary artery disease and had three stents inserted in his LAD artery (also known as the Widow Maker), he has decided to radically change his diet. A friend gave him a book by Dr. Caldwell Esselstyn called “How to Prevent and Reverse Heart Disease”. He is now following this plant-based diet. Dr. Esselstyn believes the following foods cannot be eaten if a heart healthy diet is to be effective.

  • Anything with a face or a mother. This includes meat, poultry, fish and eggs.
  • Dairy products that include butter, cheese, cream, ice cream, yogurt, milk and skimmed milk.
  • Oils: All oils including olive oil and canola oil.
  • Refined grains: White rice, “enriched” flour products that are found in pastas, breads, bagels and baked goods.
  • Nuts: Individuals with heart disease should avoid all nuts. Those without the disease can consume some walnuts, which provide considerable omega-3 fatty acids.

The following are foods needed to promote heart health by a cholesterol lowering diet.

  • Vegetables – Just about all vegetables are permitted on this plan with the exception of avocados. If you are a cardiac patient avocados have a very high fat content. Those that do not have heart disease may eat avocados as long as blood lipids are not elevated.
  • Legumes – Beans, peas, and lentils of all kinds.
  • Whole Grains – Just about any grain as long as it is “whole” grain. “Whole” means that it has not been polished or processed to eliminate much of the nutritional value.
  • Fruit – Fruit of all kinds are permitted. It’s best to limit fruit consumption to three servings a day. Also, avoid consuming pure fruit juices since you get excessive amounts of sugar that will elevate your triglycerides. Be careful of all desserts for the same reason.
  • Beverages – The heart healthy diet allows the following beverages. Water, seltzer water, oat milk, no-fat soymilk, coffee, and tea. Alcohol is okay in moderation.

Anyone considering this diet would have many questions and concerns. If you Google Dr. Esselstyn, you will find many articles and FAQ’s which will tell you all you need to know. Better yet, if you have heart disease (or want to prevent it) buy the book and see what you think.

Eating out and following the diet is easier now than a few years ago. There are many more options at even traditional restaurants for those on a plant-based diet. Rae and Fred went to the Dock Restaurant in Naples a few weeks ago and were surprised to see that even a place famous for its seafood, they offer several vegan options. Here are a few:

Bamboo Steamer Basket   16.95

With sticky rice, bok choy, shiitake mushrooms, julienne carrots, broccoli, cauliflower, spiced sweet soy dipping sauce

Island In Banana Leaf   15.95

With sweet plantains, black beans, rice, pineapple salsa, chimichurri & cuban onions

Mediterranean   16.95

Grilled polenta, zucchini, squash, tomato, portobello mushroom & baby sweet potatoes with warm Mediterranean vinaigrette

These entrees can be easily modified to fit the Esselstyn diet. They love The Dock restaurant!

 

Naples Real Estate: 

Here are the YTD July 2017 Naples/Bonita market statistics:

For the first seven months of 2017, there were 7,957 closed sales of existing homes in all of Naples and Bonita. This compares with 7,408 closed sales for last year. This represents about a 7% year to year increase for existing home sales.

Here’s an interesting chart comparing 2017 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
January -July 2016
7,408
3,483
2,749
456
579
141
January – July 2017
7,957
3,584
3,065
526
622
160
Difference
+549
+101
+316
+70
+43
+19
% Change
+ 7%
+3%
+11%
+15%
+7%
+13%

All categories are up from last year. The first seven months of 2017 have been positive for existing home sales. Growth slowed a bit in July, but sales of existing homes stayed strong in the first half of 2017.

As the following table shows, inventory levels vary dramatically by price point:

Naples Home Inventory As of July 30, 2017
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
12,490
5,771
4,816
785
902
216
Average Number Sold per Month
1,041
481
401
65
75
18
Total Available for Sale
6,552
1,987
2,837
560
847
321
Months of Supply as of July 30, 2017
6
4
7
9
11
18

The inventory levels decreased about 6% from last month to 6,552 properties. This was the fifth monthly decrease in a row. Keep in mind that the figure is a relatively 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, 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 321 properties available. During the last 12 months, 216 properties in this price range have sold…which means an average of about 18 per month. At that rate, the 321 homes available represent about 18 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 30, 2017 there were 28 active listings in Kensington. This is four less than last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
5
$1,199,000
$1,449,000
$391
177
Villas
5
$485,000
$780,000
$269
148
Coach Homes
18
$347,500
$695,000
$207
141
Total
28

There have been 24 closed sales in the past 12-month period. At this average selling rate of 2 properties per month, the 28 homes listed represent about 14 months of inventory. It still is a buyers’ market for those available.

 

Riverstone Real Estate: 

Riverstone is the community where Jeff and Nicola live. Riverstone is fully built out and has been turned over to the residents by the developer, GL Homes. Here’s a look at the MLS market in Riverstone as of July 30, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
39
$444,900
$1,400,000
$228
87

 

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
4
9
8
10
8
Average Price per Sq. Ft.
$219
$231
$197
$215
$277
Average Number of Days on Market
100
98
85
86
74

Available inventory is 4 more than last month. As of July 30th there were 39 active listings, 3 pending sales, and 1 pending sale with contingencies. The MLS system lists 50 spec and resale homes sold in the last 12 months, which means there is currently a 9-month supply of inventory in Riverstone.

 

Listing Book:     

A great service for our clients…please check it out…Listingbook.com. Do you want to be able to search the Multiple Listing Service like a realtor? With “Listing Book” you will have access to the same database that we use in the real estate business. You can access it 24/7 from any computer. It will provide you with up-to-the-minute data on any properties you have interest in. Email us with Listing Book in the subject line and we will be happy to set you up.

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

Wakelin Realty Team July 2017 Newsletter

Hello from Naples!

We are often asked about the business during the summer months. Many people are surprised when we tell them that summer in Naples is not the dead period for home sales they imagine.

If you currently have a home for sale in the Naples market, brokers recommend against terminating the listing during the summer. In fact, there were 875 closed sales in June 2015 and 832 closed sales in June 2016, both higher than the number of closed sales in January (603) and February (613) of 2017.

As a highly desirable second-home location that rarely falls below 70 degrees during the day, Naples will always increase in population during the winter months and then decrease during the summer. But according to county growth reports, the permanent residential population in Naples is also growing steadily. When asked, several brokers say that a large majority of the next season’s part-time residents, along with a host of new permanent transplants, prefer to do their home buying during the summer. So think twice about taking your home off the market during the summer months. There’s lots of action during that period.

 

Here’s an interesting article from the Naples Daily News:

With Gulfshore Playhouse poised to close on its purchase of a three-acre tract within Naples Square at the corner of Fifth Avenue South and Goodlette-Frank Road in downtown Naples in mid-August, The Ronto Group’s vision of a community that not only enriches the entire Downtown District, but also provides its residents with a truly walkable lifestyle, has taken on an added dimension.

As planned, Gulfshore Playhouse will build a multimillion-dollar 56,000-square-foot complex that will include two theaters and an education wing to support programming for children, adults and families. The complex will be at Goodlette-Frank Road and First Avenue South on the northern end of Ronto’s 300-unit Naples Square condominium development. Two of the development’s four residential buildings have been completed and are occupied. Construction of the third building is expected to start in fourth quarter of this year.

The presence of the Gulfshore Playhouse complex will put a regional theater at the doorsteps of Naples Squares’ residents and be easily accessible to residents of downtown Naples and beyond. The complex will serve as an ideal anchor for the recently announced Shoppes at Naples Square, a combination of retail and restaurant space that Ronto is developing on the eastern edge of Naples Square.

With zoning of up to 150,000 square feet of commercial space already approved, Ronto envisions The Shoppes at Naples Square as a project that will compliment and complete Naples Square’s walkable lifestyle. The Shoppes are expected to provide residents with choices of both casual and full service upscale dining, all with outdoor seating, literally within steps of their residences. Plans for the Shoppes at Naples Square are being developed and Ronto anticipates retail openings in 2019.

The combination of the Shoppes at Naples Square and the Gulfshore Playhouse complex will have a positive impact on the overall vibrancy of the downtown district. For the residents of Naples Square, the impact will be even more significant. With the introduction of the Shoppes and the theater and education complex, the entire Naples Square project will become a self-sufficient neighborhood within downtown that offers residents immediate, walkable accessibility to dining, shopping, convenience retail, and fine arts entertainment. That combination of connection and accessibility is at the heart of Ronto’s vision at Naples Square.

“The addition of Gulfshore Playhouse to the Naples Square development helps in meeting our vision of a vibrant, walkable neighborhood that offers a great place to live, shop, dine and, now, even attend a high-quality theater production,” said Anthony Solomon, executive vice president and owner of The Ronto Group. “This cultural asset will be an outstanding benefit to all of Old Naples and is the perfect anchor to the Shoppes at Naples Square.”

“We’re really excited about being at the gateway to downtown, within walking distance for a lot of people in Old Naples, and being able to help extend Fifth Avenue and to enliven the things that are already there such as Bayfront and Tin City,” said Gulfshore Playhouse founder and producing artistic director Kristen Coury. “We think we’re going to be a great addition to what Naples Square has got going on in terms of shopping and dining. Having a world-class professional theater and education complex right there is going to be incredible. We look forward to being part of the community and to creating original theatrical works that ultimately make their way to Broadway.”

 

Happening in Naples in July 2017:

July 2017
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
Farmer’s Market at Shoppes at Vanderbilt
2
Sip and Shop Sundays at Waterside
3
Walking Tour of Naples Historic District
4
Fireworks at Naples Pier
5
Tai Chi in the Garden
6
Winter in July Scavenger Hunt
7
Peaceful Coloring South Regional Library
8
Third Street South Farmer’s Market
9
Koreshan Sunday Farmer’s Market
10
Transportation in the Digital Age
11
Tuesday Morning Nature Talk
12
Boardwalk Tours at Corkscrew
13
Tai Chi in the Garden
14
Build a Quilt at South Regional Library
15
Art After Hours-Artis Naples
16
Sip and Shop Sundays at Waterside
17
Turtle Talk Vanderbilt Library
18
Free Kids Movies Paragon
19
Boardwalk Tours at Corkscrew
20
Tai Chi in the Garden
21
Wonders of Dry Ice at Headquarters Library
22
Farmers’ Market at Shoppes at Vanderbilt
23
Spanish Church Service at St. Monica’s
24
Winter in July Scavenger Hunt
25
Tuesday Morning Nature Talk
26
Free Kid’s Crafts at Miromar
27
Gone Fishing at the Naples Pier
28
Find it Fridays at Everglades Wondergardens
29
Third Street South Farmer’s Market
30
WONDER Kids at Botanical Gardens
31
Boardwalk Tours at Corkscrew

 

Official June Climate Data at Naples Airport:

June 16
YTD 16
June 17
YTD 17
Normal YTD
Rainfall in inches
4.91
17.01
14.63
20.26
20.67
Record High June Rainfall
21.28 (2005)
Record Low June Rainfall
.91 (1980)
High June Temperature
93
94
Low June Temperature
71
73
Record High June Temperature
98 (1985)
Record Low June Temperature
61 (1955)

Temperatures in June were a little lower than normal for the month. The average max temperature in June is 89.9…we recorded 89.6. Rain was the big story this month! Did we ever have rain in June. Not since 2005 with the hurricanes did we experience rain like this. We caught up to a normal YTD figure. The numbers quoted are taken from official airport readings. Rainfall totals in other areas of Collier County were substantially higher. We recorded over 21” at our house.

 

Book Review: “Memory Man” by David Baldacci

I was looking for a good read and scanned a recent bestseller list. David Baldacci’s new book “The Fix” was listed so I downloaded it to my Kindle and then realized it was the third in the Amos Decker series. That meant that for me, not continuing until I had read the first two books. I’m glad I did!

Amos Decker’s life changed forever—twice. The first time was on the gridiron. A big, towering athlete, he was the only person from his hometown of Burlington ever to go pro. But his career ended before it had a chance to begin. On his very first play, a violent helmet-to-helmet collision knocked him off the field for good, and left him with an improbable side effect—he can never forget anything.

The second time was at home nearly two decades later. Now a police detective, Decker returned from a stakeout one evening and entered a nightmare—his wife, young daughter, and brother-in-law had been murdered.

His family destroyed, their killer’s identity as mysterious as the motive behind the crime, and unable to forget a single detail from that horrible night, Decker finds his world collapsing around him. He leaves the police force, loses his home, and winds up on the street, taking piecemeal jobs as a private investigator when he can.

But over a year later, a man turns himself in to the police and confesses to the murders. At the same time a horrific event nearly brings Burlington to its knees, and Decker is called back in to help with this investigation. Decker also seizes his chance to learn what really happened to his family that night. To uncover the stunning truth, he must use his remarkable gifts and confront the burdens that go along with them. He must endure the memories he would much rather forget. And he may have to make the ultimate sacrifice.

It’s really a good book if you like the genre. Fast paced with great twists and turns. I found it fascinating to read about how his mind remembering everything. This condition actually exists and is called Hyperthymesia…a strange and fascinating affliction. I’m looking forward to reading the next book in this series.

 

Restaurant Recommendation: Komoon 1575 Pine Ridge Rd.

This is like having three restaurants in one…Thai, Japanese and Peruvian. Owners Saifon Sombun and Paul Adrianzen created the concept of offering a unique selection of the finest foods from Thailand, Japan and Peru. With an exceptional team of Sushi, Thai and Peruvian chefs, Komoon is the only restaurant in the region where you can enjoy delicious cuisines from these countries. You can find great Stir Fry, Pad Tai, Curries, Sushi and Ceviche. Service is great, the food is fresh and they have a full bar as well.

Here are a few recent reviews on Trip Advisor:

“Never been to a restaurant similar to this, pleasantly surprised and the staff is stellar! Food is extremely well presented and delicious. Never thought I would come to love tuna!”

“Love this place!!!!! We come here all the time… wait staff is always lovely, the food is amazing! Super fresh sushi, the ceviche is to die for … the Peruvian side of the menu is worth exploring. So many options we are never bored and never been disappointed. We frequent about 3 to 4 x a month, and anytime our friends and family are in town this is always the first dinner we take them to. Moo the server is so sweet and attentive we always have fun with him. 5 stars all around!!!”

“We went to Komoon for an exotic dinner in a simple environment. I had the crispy spring rolls as appetizer, and the mahi-mahi fillet Peruvian style served with rice and plantain, and my companion had the tom yum soup (very rich and spicy) and the Komoon trio which is a combination of beef pork and chicken. All dishes were good. Prices are very reasonable for Naples. Ton, our server was very nice.”

 

Naples Real Estate:

Here are the YTD June 2017 Naples/Bonita market statistics:

For the first six months of 2017, there were 6,791 closed sales of existing homes in all of Naples and Bonita. This compares with 6,322 closed sales for last year. This represents about a 7% year to year increase for existing home sales.

Here’s an interesting chart comparing 2017 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
January -June 2016
6,322
2,946
2,354
388
518
116
January – June 2017
6,791
3,037
2,616
447
552
139
Difference
+469
+91
+262
+59
+34
+23
% Change
+ 7%
+3%
+11%
+15%
+7%
+20%

 

All categories are up from last year. The first six months of 2017 have been positive for existing home sales. Growth slowed a bit in June, but sales of existing homes stayed strong in the first half of 2017.

As the following table shows, the level of inventory varies dramatically by price point:

Naples Home Inventory As of
June 28, 2017
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
12,459
5,787
4,776
776
898
222
Average Number Sold per Month
1,039
482
398
65
75
18
Total Available for Sale
6,934
2,129
2,967
579
923
336
Months of Supply as of
June 28, 2017
7
4
7
9
12
19

 

The inventory levels decreased about 4% from last month to 6,934 properties. This was the fourth monthly decrease in a row. 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 336 properties available. During the last 12 months, 222 properties in this price range have sold…which means an average of about 18 per month. At that rate, the 336 homes available represent about 19 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 June 28, 2017 there were 32 active listings in Kensington. This is the same as last month.

Type of Property
Number
Lowest Price
Highest Price
Average Price per sq. ft.
Avg. Days on Mkt.
Estate Homes
6
$1,159,000
$1,449,000
$378
160
Villas
7
$485,000
$819,900
$273
115
Coach Homes
19
$358,000
$695,000
$206
123
Total
32

 

There have been 24 closed sales in the past 12-month period. At this average selling rate of 2 properties per month, the 32 homes listed represent about 16 months of inventory on average. The number of homes available is the same as last month, and it is definitely a buyers’ market for those available.

There were 4 pending sales and 1 pending sale with contingencies on June 28nd.

 

Riverstone Real Estate: 

Riverstone is the community where Nicola and Jeff live. These statistics are taken from the MLS system we use in Naples. Riverstone is now 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 June 28, 2017:

Property
Number for Sale
Lowest Price
Highest Price
Avg. Asking Price Per Sq. Ft.
Avg. Days on Market
Riverstone
35
$444,900
$1,400,000
$233
75

 

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
8
5
10
9
Average Price per Sq. Ft
$221
$238
$203
$213
$272
Average Number of Days on Market
93
88
65
68
70

 

Available inventory is 1 more than last month. As of June 28th there were 35 active listings, 1 pending sale, and 3 pending sales with contingencies. The MLS system lists 57 spec and resale homes sold in the last 12 months which means there is currently a 7-month supply in Riverstone.

 

Listing Book:     

A great service for our clients…please check it out…Listingbook.com. Do you want to be able to search the Multiple Listing Service like a realtor? With “Listing Book” you will have access to the same database that we use in the real estate business. You can access it 24/7 from any computer. It will provide you with up-to-the-minute data on any properties you have interest in. Email us with Listing Book in the subject line and we will be happy to set you up.

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