Metas
Absorption Rate for Naples Homes
The absorption rate for Naples homes reflects an improving market for the 4 specific time frames - 3 months, 6 months, 9 months and 12 twelve months ending June 30, 2008 for active listings as of July 1, 2008.
The 3 month time frame reflects an inventory of 22 months significantly down from the 44 months in February, and down from 25 months for May.
The 6 month time frame reflects an inventory of 28 months down from February’s 45 months and May’s 33 months.
The 9 month time frame reflects an inventory of 31 months down from February’s 41 months and May’s 34 months.
The 12 month time frame shows 31 months of inventory, down from 38 months in February and 33 months in May.
Each time frame has unique characteristics affecting the number of months. The 12 month time frame includes about 1.5 months of liberal loan programs and sub-prime borrowing, as well as, the subsequent credit crisis where homes under contract (pending sales) did not close due to the elimination of loan programs, mortgage companies failing, and last minute reversal of mortgage commitments by some lenders in the months following August 15, 2007.
The 9 month time frame is affected by the aforementioned last minute reversal of mortgage commitments and issues of possible homebuyers trying to find alternate financing. In addition, it includes the activity during the winter season.
The 6 month time frame includes 3 months of seasonal activity and 3 months of non-seasonal activity.
Overall, when looking at the trend lines they reflect an improving market by their alignment with the 3 month trend line showing the lowest number of months of inventory up to the 12 month trend line showing the highest number of months. If the real estate market was not improving the various trend lines would not be falling in the order shown. The Naples real estate market for single family homes still remains a stronger buyers’ market.
A Friend in Need - Helping Other People
Yesterday, I was informed of a very close and dear friend, Charles Richey, had been hospitalized with Guillain-Barre Syndrome. This particular disease afflicts the nervous system and the inflicted individual looses the use of all their limbs and ability to swallow.
Charles has helped me with my website on many occasions and has always been there to just to talk or give me encouragement when things were rough for me. There are many real estate agents through the United States that have benefited from his assistance. In addition, Charles, is very active in the Las Vegas area with animal rescue organizations. Many times when we talk he will tell me about a new dog that he has staying with him until a home can be found.
Charles does not have any health insurance at this time and with the overall real estate market not as strong as it has been, he will be incurring substantial hospital, physician, and after inpatient care - if you have been hospitalized you may have some idea of what Charles will be facing in the future.
On the Internet, we meet many people and may not meet them in person. So when a call goes out to help another- the internet is a power vehicle to get the word out. I have been lucky to meet Charles and his wife Jacqui in person and have had dinner with them.
You may not know Charles Richey from Las Vegas, but perhaps you know someone that has been striken with this disease and can offer comforting words of advice for this family or if you are so inclined to assist Charles you can visit this site or click on the graphic below.
Donate to the Charles Richey Fund
Thank you for reading this post and any assistance you can offer Charles Richey from Las Vegas.
Blog Makes Top 100 Real Estate Blogs
Today, I was very surprised to find this blog to ranked in the Top 100 Real Estate Blogs as per Top 100 Real Estate Blogs.
The ranking is determined by Google Page Rank, Technorati Rank, and Alexa rankings.
The blog is entitled Naples Real Estate News and Market Updates and does cover the communities of Bonita Springs and Estero as well.
Thank you - Top 100 Real Estate Blogs.
Naples Home Market Conditions January 08
The Naples single family home market conditions is continuing to show a trend of less listings coming on the market in January 2008. Pending sales are also showing an improvement in the number of homes having offers which are being accepted by the sellers. The number of closed sales were down from previous years as well as the median price which was down 7.9% in comparison to last January.
New Listings - during the month of January 2008, a total of 1,127 single family homes in Naples were listed for sale, up from the 629 listings in December. This compares favorably with 1,411 listings in January 2006, and 1,340 listings in January 2005. Traditionally, the month of January has the highest number of new listings. As the number of new listings coming on the market reduces, the inventory of homes will decrease through sales or sellers deciding to remove their houses from the market.
Closed Sales - the volume of closed sales for Naples homes in January 2008 totaled 111, down from December’s 143. This is slightly less than the 140 homes sold in January 2007 and the 204 homes in January 2005. Although the number of closed is less than 2007, the impact of the elimination of sub-prime borrowers purchasing homes in 2007 is not being reflected in this analysis. The national average for sub-prime borrowers is about 16%, so the decrease in closings may not be as significant as the number reflect. January closings are usually one of the lowest of year.
Pending Sales - for the month of January came in at 195 homes for Naples, up from 146 pending sales in December. In 2007 and 2006, the pending sales were 220 and 244, respectively.
Median Purchase Price - the median price paid for a Naples home was $450,000 in January, which is up (7.9%) from December’s median price of $417,000. The median prices paid in 2007 and 2006 were $584,500 and $580,000, respectively.
Andalucia - Naples Houses For Sale
Andalucia in Naples is a private gated community of 167 home sites. Shopping, restaurants, cultural and entertainment venues and schools nearby. Homes have between two to five bedrooms and range in size from 1.767 to 3,350 square feet of living area. To date 48 homes have been committed to. The amenities found in Andalucia are: community pool, health and fitness center, clubhouse, and gated. The home range in price from the $500,000 to $700,000’s.
For more information about the Andalucia development in Naples, please be sure to contact your Glenn Ginsburg, your Naples REALTOR.