Real Estate Sale for November 2011

Naples Area Board of REALTORS® November 18, 2011 MEDIAN
CLOSED PRICE UP 18 PERCENT Report Shows Pending and Closed Sales Increases NAPLES,
Fla.-November 18, 2011- Seasonal real estate sales are starting early 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 overall
median closed price for properties over $300,000 is up 18 percent from last year and
is now over $600,000,” said John Steinwand, President of Naples Realty Services. The
October 2011 median closed price for properties over $300,000 is $605,000 compared
to $513,000 in October 2010. Closed sales in the $2 million and over category for
the 12 months ending October 2011, is driving the median closed price up as sales
increased 10 percent with 223 sales compared to 203 sales for the 12 months ending
October 2010. “The condo market shows a robust increase in pending sales in the $1
million to $2 million market and in Naples Beach and North Naples specifically. The
available inventory decreased in both of those areas compared to last year, which
should drive prices up,” said Kathy Zorn, Broker/Owner of Florida Home Realty. For
the 12 months ending October 2011, pending sales in the $1 million to $2 million
price category increased 26 percent with 173 contracts compared to 137 contracts for
the 12 months ending October 2010. The available inventory in the Naples Beach area
decreased 16 percent and the inventory in North Naples decreased 24 percent in
October 2011 compared to October 2010. According to Dr. Lawrence Yun, National
Association of Realtors Chief Economist, “The South Florida region should see a 10%
increase in prices over the next 12 months because the market is overcorrected and
homes are selling for less than the cost to build new.” The report provides annual
comparisons of single-family home and condo sales (via the SunshineMLS), price
ranges, geographic segmentation and includes an overall market summary. The
statistics are presented in chart format, along with the following analysis: ¨
Overall closed sales increased 7 percent with 509 sales in October 2011 compared
to 476 sales in October 2010. ¨ Single-family home closed sales increased
12 percent in October 2011 with 280 sales compared to 249 sales in October 2010. ¨
Condo pending sales for the 12 months ending October 2011 increased 8 percent
with 4,862 contracts compared to 4,505 contracts for the 12 months ending October
2010. According to Wes Kunkle, President of Kunkle Realty, “The available inventory
decreased 19 percent to 7,325 available properties in October 2011 compared to 9,044
available properties in October 2010.” “The months of inventory statistic is showing
that properties are staying on the market for an average of 3 months less in October
2011 than they were in October 2010,” said Jo Carter, President of Jo Carter &
Associates.

Credit Standards

With the tightening of credit standards, more homebuyers find themselves rejected
when they apply for a loan. But after just one rejection, lending experts say buyers
shouldn’t give up – they may still be able to qualify for a mortgage if they keep
trying.However, buyers shouldn’t try again until they closely evaluate why the
lender turned down the original mortgage application and find ways to address the
issues in their second or third attempt, says Marisol Torruella, a loan originator
with the New York Municipal Credit Union. Applicants can, by law, find out why they
were rejected in a mortgage application. The Equal Credit Opportunities Act gives
lenders 30 days to tell applicants, in writing, the specific reasons why they denied
a loan.Some rejected borrowers may need to save for a larger downpayment or take
steps to improve their credit score.Some applicants may find that shopping around
for other lenders helps (particularly if the applicant has been a longtime member at
a credit union) or discussing other alternatives with the original lender.
Applicants could also consider different options, such as a loan from the Federal
Housing Administration (FHA), which has less stringent requirements. Surveys suggest
that most borrowers aren’t aware of FHA loans.

Real estate News

September 16, 2011
REAL ESTATE MARKET KEEPS IMPROVING Report Shows Downward Trend in Inventory Continues
NAPLES, Fla.-September 16, 2011- The Naples Area real estate market is strong as
shown by inventory that continues to drop and the overall median closed price
stabilizing, 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 number of available properties decreased 21 percent from 8,745 in
August 2010 to 6,930 in August 2011. "The overall inventory continues to decrease
and is currently at its lowest level since we started tracking inventory in January
2007," said Brenda Fioretti, NABOR President and Managing Broker of Prudential
Florida Realty. "The decrease in inventory covers all property types; single-family
home inventory decreased 22 percent and condo inventory decreased 20 percent in
August 2011," said Phil Wood, President of John R. Wood REALTORS®. For the 12 months
ending August 2011, the overall median closed price for properties over $300,000
increased two percent to $550,000 up from $540,000 for the 12 months ending August
2010. "Single-family homes showed positive gains in the median closed price for the
12 months ending August 2011, with a four percent increase compared to the same 12
months in 2010," said Bill Poteet, President of Poteet Properties. The report
provides annual comparisons of single-family home and condo sales (via the
SunshineMLS), price ranges, geographic segmentation and includes an overall market
summary. The statistics are presented in chart format, along with the following
analysis: ¨      Overall pending sales for the 12 months ending August 2011
increased 5 percent with 10,107 contracts compared to 9,607 contracts for the 12
months ending August 2010. ¨      Single-family home pending sales increased 5
percent in August 2011 with 457 contracts compared to 436 contracts in August 2010.
¨      Condo pending sales for the 12 months ending August 2011 increased 12 percent
with 4,880 contracts compared to 4,371 contracts for the 12 months ending August
2010.

New Website

Welcome to the new gregmanchester.com website , we have been working hard for you to discover buying real estate in Naples ,Bonita Springs Florida . You have so many links to discover your next new home or condominium in Florida . We also have a links page for you to look  up anything in your new area including schools,cable hook up , where to go and what to see and all the major hotels in the area . We hope you stop by and visit our new website.

Sincerely,

Thank you  Greg Manchester

Hello everyone and Welcome to The Manchester Group

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