Election 2008... A New Canidate being discussed for President!

My Grass Roots effort to bring real estate and the other major issues to light has catapulted a new candidate into the media's eye (and I don't mean Palin). This is a real canidate that will be the agent of Fix, not just the agent of Change!

Channel 3 News Reporting on:

2nd Quarter Update of Sales & Prices

I wanted to remind people with a photograph of what we all come to Southwest Florida for before providing some information on the market.

...Weather, Beaches, Boating & Sunsets!

This is just a hip shot of the make up of the BN/ES and NA MLS Inventory as of today, July 1st, 2008!

Very interesting numbers for both buyers & sellers!

Total number of listings as of this morning in Bonita/Estero and Naples, all residential types = 13,552

Total number of closed sales over the last 12 months in BN/ES, NA, resid. = 5,362

Current YRS/MNTHS of Inventory in BN/ES and NA, Residential = 2.52 yrs/30.3 mths


Market MakeUp Within Price Ranges BN/ES and NA, All Residential Types

0-250K 4,131 or 30% of the entire inventory

250-350 2,572 or 19% of the entire inventory

350-500 2,282 or 17% of the entire inventory

500-750 1,826 or 13% of the entire inventory

750-1M 992 or 7% of the entire inventory

1M-2M 1,135 or 8% of the entire inventory

2M-3M 442 or 3% of the entire inventory

3M-5M 219 or less than 2%

5M-10M 113 or less than 1%

10M 18 or not that much, in fact as a bonus if you are looking over 10 million we can do it all in a day or two.


Pending sales 2nd Qtr of 07 vs. 2nd Qtr of 08 are up 35%, that is BN/ES and NA, all residential areas.

So 66% of the inventory is below 500k, and a whopping 49% is below 350k.

These are some pretty interesting numbers for those that know the Naples & Bonita Springs market and think prices are still too high.

Hopefully these numbers provide an update on how we stand as of July 1st and further my commitment to providing the most up to date statistics and market news Naples, Bonita Springs & Estero southwest Florida market.

Delivering Noteworthy Results!

Garren Grup, REALTOR

Further Evidence of a Normal Market Return

The May market analysis continues to support the views of many that the Southwest Florida market is steadily improving and has returned to what is considered a “Historical Norm”. It was quite obvious to many that the supply had exceeded demand in Southwest Florida which elevated prices beyond fair market value in 2004 & 2005. In many communities current prices are now below “replacement cost” as some analysts have begun predicting that the credit crunch and negative national housing news is now causing an over correction on the downside in the same way the bubble drove prices up.

See some of my “Property Search Links” on the top right and discover why this is an Award Winning website in the entire state of Florida. It’s always up-to-date, easy to use and interactive for your own preferences.

Additional notes regarding May Market Stats Report:

Average number of closings for the month of May for all years 2000 – 2008 (excluding 2004 and 2005) is 611. May 2008 closings (617) continue to support the theory that the market is returning to historical norms.

May closed sales up 2% over May 2007. JRW closed sales for May up 29%.

In April we reported that YTD pended sales were approximately even with YTD April 2007. In May YTD pended sales jumped ahead of prior year by approximately 6%. JRW YTD May pended sales are up 28% over 2007. We anticipate that the market will continue to gain over 2007 throughout the remainder of the year and will carefully monitor this trend over the summer season.

JRW listings continue to outsell those of other brokers. Through May 2008, 363 JRW listings have closed (through MLS) compared to: Downing Frye 329; Coldwell Banker 256; Premier 229 and Prudential 152.

JRW agents continue to significantly outperform other agents in both average units and average volume produced per agent. There are some very good reasons why this happens and some corresponding benefits to our clients and customers:

(1) JRW employs only full-time, career oriented professionals. Adherence to the highest ethical and professional standards is a condition for continued affiliation. Advantage to clients and customers: Knowledgeable professionals, equipped with the most current information and technology, are actively involved in helping to guide buying and selling decisions.

(2) JRW provides in-house training and professional development opportunities unequalled in the market. Advantage to clients and customers: From the highly experienced to the novice agent, on-going education is provided at all levels. Changes in the market, legal requirements, technology, and marketing all have an impact on the successful sales effort. Our programs continually address all of these areas and more.

(3) JRW professionals have access to the most current market data and statistics. Advantage to clients and customers: The ability to benefit from current, factual information about the market today as well as historical comparisons. Buying and selling decisions can be made based on facts and their relevance to a particular individual situation, rather than on hype or one person’s opinion.

See the exact numbers by clicking here.

Keep up the great Team, and have a Sizzling Summer Selling!!!

Commentary provided by Dorothy D. Babcock, John R. Wood C.O.O.

I look forward to receiving any comments or questions regarding anything on my blog below!

"Naples is Back!"

“Naples is Back!” … This was the declaration of Toll Brothers Home Builders CEO on Tuesday May 13th, 2008 http://www.cnbc.com/id/24600543

The whole segment is interesting but the interview with Robert Toll starts at 4 minutes and specific quote that Naples is Back starts just after 5:20


For months I’ve been having discussions about the incredible values in the Southwest Florida market that are in more cases than not below the cost of construction. The agents, lenders and other local real estate experts I’ve been talking to see the local market gradually getting better. The thing that seems to elude all of us is the number of people that are still holding out to try and time the market. You can no more time the real estate market than you can the stock market. One expert that I spoke with put it best when he said “are buyers waiting for higher prices or higher interest rate!” This rhetorical question best sums up the state of interest rates, the real estate market and the economy. With the Federal Reserve expected to pause in it’s cutting of the Federal funds rate and long term inflation that effects what interest rate you can obtain on a loan expected to continue rising as they have been since mid February there is truly nothing to wait for if you are in the market for a new home in Naples, Bonita Springs or Estero. At this point it is possible that prices could deteriorate a little more but if interest rates are on the rise at the same time any money you save will likely be futile and the best values may slowly be disappearing. National builders have began to raise prices over the last few weeks and one builder that was severely effected in the last year raised prices by 2% over the last several weeks. This was highlighted this week on Jim Cramer’s Mad Money on CNBC when he interviewed Toll Brothers CEO Robert Toll. Toll Brothers currently operates in 22 states and for Robert Toll to shatter hopes of a recovery for every city and state that they operate in and elevate Naples is a significant plug for the local market especially given that the Naples area is often lumped in with Miami(South Florida) which has been severely impacted by the dozens of high-rise properties that overbuilt that market.

If you’re in the market for a home, the next several months over the summer will be the best time to pick up one of those great values to take advantage of the low prices and historically low interest rates before they disappear!