Patricia Murray

EIGHT IS GREAT
Report Shows 106 Percent Increase in Overall Pending Sales

NAPLES, Fla.-October 16, 2008-For the eighth consecutive month, pending sales increased in the Naples area according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

"The greater Naples Area is seeing a double digit growth in all geographic areas in overall pending sales. The increase ranged from 47 percent in South Naples to as much as 244 percent in Central Naples" . , "The average days on the market has decreased 17 percent for Single family homes, indicating that sales are continuing to increase."

The report which provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges and geographic segmentation also includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

 Overall pending home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, increased 106 percent, with 481 in September 2008 compared to 234 in September 2007.

 Overall pending home sales for properties less than $300,000 saw a 264 percent increase with 320 in September 2008 compared to 88 in September 2007.

 Overall home sales increased 50 percent with 361 in September 2008 compared to 240 in September 2007.

 Single-family pending home sales increased 173 percent overall, with 319 in September 2008 compared to 117 in September 2007; Pending sales of single-family properties of less than $300,000 were 202 in September 2008 compared to 27 in September 2007, a 648 percent increase.

 Single-family home sales increased 50 percent overall, with 209 in September 2008 compared to 139 in September 2007.

 Overall condo sales increased 50 percent, with 152 in September 2008 versus 101 sales in September 2007; and pending condo sales under $300,000 increased 93 percent with 118 in September 2008 compared to 61 in September 2007.
The $300,000 and below market has been leading the way and is now driving sales to higher priced properties. "Pending sales are up 22 percent in the $500k and above market from September 2007 to September 2008, and the numbers of homes sold are up as well" . "The activity in the higher priced properties demonstrates that the increases in the $500k and above market are now driving the sales"

To view the entire September report, go to www.Naplesarea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.
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Patricia J. Murray
REALTOR

Premiere Plus Realty Co.
749 12th Avenue S.
Naples, FL 34102

PH: 239-404-0759
FAX: 239-514-7873
patriciajm@live.com

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Short Sales are old news.Many buyers have made offers, written up contracts only to have the mortgage company respond too slowly or turn down their offers only creating more work for all involved. Then the mortgage company loses all that time only to start all over again. Then the buyers have to start from scratch. Oh well -- this is a learning curve for all of us in this industry. Looks like the buyers are also catching on and just looking for a good deal instead of a short sale -- they want to buy --- they don't want the BS. Here in Naples, FL where most have second homes only take this kind of treatment once, maybe twice and then they are done with it.... they no longer want that short sale. That's ok.

Then there is the sleazy operators who always seem to surface in an unfortunate situation. Here is what I am seeing within the industry. So-called "consulting" companies saying they specialize in short sales. They have their broker's licence, thus allowing them to list the property --- getting them a commission and then they put a super low price on the listing...... remember, banks have a ratio to keep --- there is an appraisal done and they have to meet a certain percent of that number. The so-called consultant "hooks" a buyer with this super low list price, allowing the buyer and the realtor to think they may actually get this property for this price -- then the negotiations begin..... the bank comes back with a much higher number. The realtor is upset (shame on them for not knowing what is going on in this market ahead of time to advise their buyer) and the buyer is upset. The "consultant" is well aware of what is going to take place, but by that time, they have the listing and try to "hook" the buyer into a much higher price..... talk about scams and scum balls.

Just another note for all who may read or be interested. Get all the facts and information ahead of time. If your realtor can't provide it, find another realtor. I don't care if they are a friend or relative, business is business. Allow somebody who knows the "business" work for you. There are some out there, but to find one, you will have to do your homework so you will recongnize them when you interview them.

Patricia Murray

Premiere Plus Realtry Co.

239-404-0758

My last listing of the season --- unbelievable price --- $169,000 - Turnkey --- Golf Course community and lowest price in the area -- lowest comps by 12%!!!!

Pass it on.... Naples, FL --- In season rent usually about $3500 monthly --- annual about $1800 mo.

Patricia Murray
REALTOR

Premiere Plus Realty Co.
749 12th Avenue S.
Naples, FL 34102
239-404-0759
patricia.murray@comcast.net

I am a business person. I watch numbers and analyze behavior to see how they affect these numbers.

The Naples market is better then it has been in a couple of years. It is still slow, but not following the national numbers the news media keeps telling us. This is Naples! There is only so much land and only the 3rd yr of baby boomers. We have 13 more years of this population migration so let's look at the bright side.

What I have noticed: If the property isn't on the bottom of the curve (picture a bell curve with the list prices moving up) in a certain criteria, it doesn't get shown. When it does get shown -- it will most likely sell -- but then the low-ball offers come in. The buyers don't understand Naples----- most sellers can hold these properties for years --- they will come down to a reasonable compromise, but they will not give it away. My properties that have sold are coming in at 92% of list price.

I have learned early this season, if the buyer or seller you are working with don't follow your advise when you know what is going on.... I let them go -- gracefully of course.