| Robert's Realty News |
September 2017 |
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Market Stats for July 2017
By Robert L. Nardi
REALTORS® in Naples sold more existing homes in July (682) than they did in January (603) or February (613), a statistical reality that busts an old myth that home sales stall in the summer. In fact, overall closed sales in the market’s sweet spot (homes priced between $300,000 and $500,000) increased 32 percent in July. Broker analysts reviewing the July 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which track home listings and sales within Collier County (excluding Marco Island), said a 9 percent increase in closed sales during July was very good, but the continued reduction of inventory, especially in the single-family home market, is cause for concern as it limits choices for buyers.
One segment of the market that brokers are watching closely is the $300,000 and below single-family home market, which saw pending sales decrease 24 percent, closed sales decrease 19 percent, and inventory decrease 2 percent in July. In fact, the entire single-family home market is getting stretched thin as inventory tightens. In July, inventory rose just 3 percent overall, but single-family home inventory decreased 1 percent.
The July report (
CLICK HERE
) showed the median closed price for homes under $300,000 was the highest since 2008. However, the median closed price for homes over $300,000 was the lowest reported in 9 years!
According to the report, overall median closed prices in July increased 6 percent to $319,000 from $300,000 in July 2016. For homes in the $300,000 and below price category, the median closed price increased only 3 percent to $225,000 from $219,000 in July 2016. And for homes above $300,000, the median closed price decreased 7 percent to $485,000 from $524,000 in July 2016.
What does this mean?
This means that Buyers have more choices in the $300,000 above range & can “get a deal.” Therefore, if you are Buyer in that range, you may want to strike while the iron is hot, before a shift occurs. Once inventory tightens up, it will become more of a Seller’s market.
What’s new?
The firm’s website was recently revamped. My old hosting company could not keep up with MLS changes on a day to day basis. I wanted a web site with a powerful search engine. You’ll find the new website at
NardiRealty.com
or simply
buynaples.net
. It is very streamline & gives you the ability to search immediately and have the lastest listings available to you. Not only can you search for residential property listings but also rentals. Some of the other web masters could not provide the capability of searching for rentals, but this vendor does. I’ve also hired a in-house web master, so I can easily & quickly make changes if the need arises.
Hurricane Irma
With Hurricane Irma coming to South Florida, many businesses have closed early. In fact, by the time you get this newsletter, it would have made landfall. It looks like it is shifting from the middle of the state to the North East which can benefit Southwest Florida. Hopefully, the 185 miles winds will be more like tropical winds & gusts. For all of my Florida clients & their families, please stay safe.
Referrals
Nardi Realty celebrated its 10th Anniversary on August 3, 2017. We basically survived the downturn because of people like you who referred their friends & family to us over the years. Please keep in mind that even if you wish to sell or purchase property anywhere other than Florida, we can assist with finding a REALTOR® who is market knowledgeable in your desired area. Please feel free to give me a call directly at 239-293-3592 or send me an e-mail at Robert@NardiRealty.com with all your referral needs.
Fall is upon us! Enjoy! |
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How to Know If a House Is a Good Investment
 You want to find a house that is not only a comfortable fit for your family, lifestyle, and budget but also, ideally, a solid investment. When you purchase an investment-worthy home, you'll have the option to rent it out, draw on your equity, or sell it for a profit when your family is ready to move on to a different house. Here are some tips for determining if a specific house is a good financial investment:
Average Days on Market (DOM) Is Low
Keep an eye on the average DOM for your... Read More
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Realize Your Limits When It Comes to DIY Home Renovation
 DIY home renovation has steadily grown in popularity, and the advent of DIY TV shows and YouTube channels filled with tips and tutorials has set many an imagination on fire. The world of DIY has grown closer to home for millions of people who can save a significant amount of money by doing it themselves.
However exciting and romantic the notion of carrying out a DIY home renovation is, it can wind up being a disaster of epic proportions if you attempt... Read More |
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Transform Your Home in a Weekend with These DIY Projects
 Summertime is ending, and children are returning to school. Now, is an ideal time for quick and inexpensive DIY projects that make a big statement around the home.
The average American homeowner spent nearly $3,000 on home improvements in 2015, according to a Statista report. The following list of affordable projects... Read More
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Low Inventory Leads to Dip in Home Sales
 The housing market has been steadily improving. Home prices are currently higher than they were prerecession. Housing demand is up, due in part to near-record-low mortgage rates. And existing-home sales are continuing to increase. But a severe lack of inventory is putting a strain on the market. For the past 25 months, housing inventory has fallen year over year. June was no exception; at the end of the month housing inventory fell to 1.96 million existing homes for sale, down 0.5 percent from a month earlier and 7.1 percent from a year earlier. At the current sales pace, there is a 4.3-month supply of homes on the market; a year ago, total unsold inventory was at a 4.6-month supply. After years of the housing market favoring buyers, conditions... Read More
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Is an Adjustable Rate Mortgage Worth the Risk?
 There are inherent risks involved in an Adjustable Rate Mortgage (ARM) vs. the relative predictability of a Fixed Rate Mortgage. So why would a homebuyer consider an ARM? Here are three situations where a homebuyer should give an ARM a closer look:
1. Planning to Sell Quickly
The main risk of an ARM is at the end of an introductory period when the rate adjusts. However, if you plan on using those savings to fund home improvements and sell before the introductory period is up to upgrade to a better property, an ARM may be a good financial decision.
2. You Need to Move Again
There are many reasons why someone would need to suddenly... Read More |
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| Robert Nardi - (239) 293-3592 |
Robert's Realty News - September 2017 |
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