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