Archive for May, 2010
May
25
Happy Memorial Day!
While it’s the official start of summer, it’s also a day to remember and honor our military. Please take the time to watch this short and amazing video. Thank Your Military.
It’s great to see how ordinary citizens came up with a simple way to salute the sacrifice our military makes.
Meanwhile, enjoy the barbecue!
Ron "The Bear" BarakettAsk The Bear
May
24
Cedar Hammock, Forest Glen, Heritage Bay, Naples Heritage, Naples Lakes, Vanderbilt Country Club WINNERS AND LOSERS
Inventory levels have crept upwards slightly. Forest Glen has continued to add units, hitting the 60 level for the first time in months. Looking between the “ropes” however, we see that Vanderbilt Country Club has reduced to 31 units, 18 of these are Condos (covered parking). The condo category is still undersold.
Heritage Bay is still the 400 pound gorilla in the room. Heritage Bay has more short sales appearing every week, and they are being snapped up at the $140K level. I believe that the physical proximity to Vanderbilt Country Club added to the inventory levels there. Prices have been ticking up at Cedar Hammock and Naples Heritage, with the bellwether 2 bedroom/2 bathroom units fetching $170,000. Amazing, because those units are smaller in square footage than the same units at Vanderbilt County Club.
| BUNDLED GOLF REPORT, MAY 23 | |||||
| ACTIVE | SALES | NEW | REDUCED | CLOSINGS | |
| Cedar Hammock | 23 | 0 | 2 | 0 | 0 |
| Changes | |||||
| Forest Glen | 61 | 1 | 5 | 3 | 2 |
| Changes | |||||
| Heritage Bay | 22 | 3 | 1 | 1 | 0 |
| Naples Heritage | 30 | 0 | 1 | 0 | 2 |
| Naples Lake | 52 | 1 | 1 | 2 | 2 |
| Vanderbilt C C | 31 | 2 | 1 | 0 | 0 |
| Changes | |||||
| TOTAL | 219 | 7 | 11 | 6 | 6 |
Have a great week!
Ron "The Bear" BarakettAsk The Bear
May
17
Did You Know? Bundled Golf Communities in Naples FL
The big board (NYSE), NASDAQ and the entire securities market is smaller than the entire Real Estate market in the USA, by a factor of 15 times smaller! A good trivial pursuit factoid to remember. This market is very segmented and local in nature. Foreclosures are expected to stay above 2.5 Million foreclosures annually throughout 2010, and to RISE in 2011. So what does that do to prices?
In a nutshell, it depends what floor you are on, and which segment of the market you are in. In fact, Cedar Hammock has shown some robust gains in price per square foot, 2 bedroom condos closing at $170,000.00. Forest Glen on the other hand is showing an incremental increase in available inventory, thereby pushing prices down. The results below and the facts behind these results are fascinating, and if you would like more information on how much your home is worth, just call me 239-850-1366 or send me an e-mail.
Bundled Golf Communities Changes Report
|
BUNDLED GOLF REPORT MAY 16 |
|||||
|
ACTIVE |
SALES |
NEW |
REDUCED |
CLOSINGS |
|
|
20 |
0 |
0 |
0 |
1 |
|
|
57 |
0 |
3 |
0 |
1 |
|
|
23 |
-2 |
1 |
1 |
2 |
|
|
29 |
0 |
4 |
0 |
1 |
|
|
52 |
0 |
1 |
1 |
3 |
|
|
36 |
0 |
1 |
2 |
1 |
|
|
TOTAL |
217 |
-2 |
10 |
4 |
9 |
Ask The Bear
May
11
Bundled Golf Communities, Naples FL Weekly Update
The new listings exceeded the sales by 4 units, however there were a number of listings withdrawn, expired, or terminated reducing the inventory, probably due to “summer” layoffs, people going away for the summer. Overall, Forest Glen and Naples Lakes have the highest inventory, accounting for almost 50% of the availability for these 6 golf courses.
The foreclosure court is as busy as ever. The average judgment has spread upwards to $400,000.00……translation, these units will be scooped up for 120K to be rehabbed and sold for $190,000 to $200,000. This retail number has been moving upwards, more than doubling from the $85000 levels we were seeing in July 2009. THE WHEEL IS TURNING, slowly. Here are the bundled results below.
|
BUNDLED GOLF REPORT MAY WEEK 2 |
|||||
|
ACTIVE |
SALES |
NEW |
REDUCED |
CLOSINGS |
|
|
20 |
0 |
0 |
0 |
2 |
|
|
53 |
2 |
3 |
2 |
2 |
|
|
21 |
0 |
2 |
1 |
1 |
|
|
26 |
1 |
1 |
0 |
1 |
|
|
50 |
1 |
1 |
0 |
2 |
|
|
37 |
0 |
1 |
0 |
1 |
|
|
TOTAL |
207 |
4 |
8 |
3 |
9 |
Bundled Golf Communities Changes
Bundled Golf Communities Quarterly
Feel free to search for homes in the Naples Fl area and please contact me if you need any assistance with your real estate needs.
Ron "The Bear" BarakettAsk The Bear
May
07
Ron “The Bear” Barakett – a REALTOR you can TRUST in Naples FL
Mr. and Mrs. Giesbrecht have been looking for a Florida golf retreat type home for 6 months. When they came to town, they liked one of the best floor plans, an Oxford, attached. The one that I thought they should buy. We could not view, could not even get into it, because there were some seasonal renters (not unusual here at Vanderbilt Country Club) in residence and they would not let us take a peek!
We went ahead and contracted a purchase agreement, sight unseen. Once we were able to get in and being in a rush to “show” the property, we used a less than perfect set of photos…the renters where there and we had to shoot around them. This link will be the first time Mr. and Mrs. Giesbrecht see their new home. http://www.visualtour.com/showNP.asp?t=2179234&prt=10003
Feel free to search for homes in the Naples Fl area and please contact me if you need any assistance with your real estate needs.
Have a great weekend!
Ron "The Bear" BarakettAsk The Bear
May
03
Bundled Golf Communities Naples Fl Update & Last Week’s Winner
Here is a link to the Solve the Statistical muddle. Joe has been a blog follower of mine. It was the answer that I felt gave the compelling answer to that riddle. Sent in by Joe Pack
In terms of answering your question about how new starts (good sign) and foreclosures (bad sign) can be happening at the same time: My answer is simple: the value of the homes has finally lowered to where the market will move the inventory, the government is keeping the interest rates artificially low by the Fed’s current policy thus stimulating activity. The builders know that they must compete with the resale market, thus are selling at competitive rates. Thus the traditional, buy resale, versus build new question is back in play.
Summary of week’s activities. The category (6 bundled courses) has gone from 198 to 213 available resale units. Cedar Hammock held its own, and Vanderbilt actually shrank by a unit. The rest had a 10% increase!
|
BUNDLED GOLF REPORT MAY WEEK 1 |
|||||
|
ACTIVE |
SALES |
NEW |
REDUCED |
CLOSINGS |
|
|
21 |
1 |
1 |
0 |
0 |
|
|
52 |
0 |
1 |
2 |
0 |
|
|
21 |
2 |
3 |
1 |
0 |
|
|
29 |
0 |
1 |
1 |
3 |
|
|
50 |
0 |
2 |
1 |
0 |
|
|
40 |
0 |
0 |
0 |
2 |
|
|
TOTAL |
213 |
3 |
8 |
5 |
5 |
Bundled Golf Communities Changes
Enjoy your week!
Ron "The Bear" BarakettAsk The Bear
Ron "The Bear" Barakett!
(239) 850-1366
...ferociously dedicated
...fiercely devoted
...hungry for results
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