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