Stacie Ricci
January 2020
Your Top Resource for Naples Florida Real Estate Information and Service for over 19 Years

Should You Buy a Fixer-Upper?
Home prices continue to rise, which is keeping many a renter out of the market. But, fixer-uppers present a potential opportunity. For starters, the lower prices create the affordability that is lacking in other segments of the market. So should you be looking for one? We’re breaking down the pros and cons.
      The ability to buy a house: Median home prices are at a record high, while affordability is at one of its lowest points. The reality for many people is that there seems like there is no end in sight to renting. A fixer-upper may present an opportunity simply because of the lower price point that gets you in the door.
      Pride of
Mortgage Rates
U.S. averages as of January 2020:

30 yr. fixed: 3.74%
15 yr. fixed: 3.19%
5/1 yr. adj: 3.45%

of ownership: Pride of ownership is a real thing for homebuyers. And that pride grows even stronger when you’ve had a hand in making



Real Estate Market Predictions for 2020
     If it’s the end of the year, it must be time for the soothsayers to come out. When it comes to predictions for the real estate market, well, there are a lot of them. We’ve taken the temperature of the experts to get a feel for what we can expect in 2020. 
      Grain of salt warning: There was widespread agreement in 2018 about rising mortgage rates in 2019, that, initially proved true. But, ultimately rates went down—and stayed there. Experts can make educated guesses based on a wide range of economic factors, but with an impeachment hearing in the Senate pending and what is likely going to be a bonkers presidential election, anything could happen. That being said, there are some predictions we feel pretty good about—and some you’ll

8 Tips for New Homeowners Moving to a New State
     No matter why you’re moving, whether you got a brand new job in a different city or simply want a change of life, it can be tough to relocate. And all of that doesn’t even take into account the process of moving all of your belongings from one state to another. In this guide, we will be going over some tips to help you pack up your life and move to a whole new state.
      1. Do plenty of research. Before you actually start the moving process, you should start by researching the city to which you plan to relocate. From local shops to schools and food chains, you should know exactly what your new city has to offer. We highly suggest doing a thorough internet search or, if possible, even driving through the city to get a better understanding of the area.
      2. Search for your new home. Before you take the plunge and move to a new city, you should spend at least a couple months beforehand finding a new home.

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November Home Activity Shows Buyers Trying to Beat the Pack

An increase in traffic on roads and beaches, and in restaurants, hotels, and open houses during November was reflected in a 27 percent increase in overall pending sales (homes under contract), and a 46 percent increase in showings for the month compared to November 2018.

Several broker analysts who reviewed the November 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), said they saw a noticeable increase in buyer interest starting back in October. The presence of more eager buyers prior to our traditional high season has contributed to the depletion of inventory, which decreased 19.4 percent in November to 5,563 properties compared to 6,896 properties in November 2018.

To view the infographic and market stats, go to Naples Area Market Report November 2019.
"We currently have a six-month supply of inventory," said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, who added that there were price reductions in 28 percent of all homes on the market in November.
But according to Budge Huskey, President, Premier Sotheby's International Realty, "Six months of inventory offers Naples a great advantage when compared to other popular Florida areas like Tampa and Orlando, which currently average two to three months of inventory, as buyers have more options."
"Naples is not a major business center where demand is driven by significant employment gains," added Huskey, "yet we continue to enjoy another solid year in real estate sales due to all the unique offerings which make Naples such as special destination to so many around the country."
But these inventory reductions aren't necessarily coming from just the resale market. "A portion of our inventory is made up of new listings available by builders," said Adam Vellano, West Coast Sales Manager, BEX Realty - Florida. "Many big, new home developments are now complete and just about sold out so there is less new product available, thus contributing to some of the decrease in overall home inventory."
Overall closed sales in November increased 2.4 percent, but it was the single-family home market that led the month's closed sales with a 5.3 percent increase compared to closed sales in the condominium market, which decreased 0.6 percent.
In response to slow sales in the condominium market, Coco Amar, a managing broker at John R. Wood Properties remarked, "We've had such huge activity in the condominium market over the last three years, it was bound to slow down a bit." But despite closed sales of condominiums being tepid in November, the report showed pending sales in the condominium market were up 26 percent compared to an increase in pending sales in the single-family homes market of 28 percent. This substantial increase is a direct result of the early influx of buyers.
Inventory levels for the single-family and condominium markets were about even in November; with 2,771 properties and 2,792 properties, respectively. Inventory declines during November were highest in the low end of the single-family home market (under $300,000), which saw a 35.4 percent decline in November. But inventory increased 19.6 percent in the $2 million and above condominium market.
"With overall inventory down and showings up, now is a great time to put your home on the market," said Fioretti, who added that her agents were extremely busy in November and she's anticipating they will be even busier during the upcoming winter season.
"People who own homes in Naples are staying longer and more are staying year round," said Amar. "There has definitely been a shift in the market this year as we are seeing buyers more interested in homes under $500,000 than those priced over $2 million."
The report showed overall median closed prices increased .8 percent in November to $332,500 from $330,000 in November 2018. Interestingly, median closed prices in the $2 million and above price category increased 4.6 percent in November, while the median closed price in the under $300,000 market decreased 5 percent.
Vellano also pointed out that the November Market Report showed "40 percent of the current inventory has been on the market for over 150 days, and 20 percent has been on the market for over 300 days." Amar responded that much of this entails two types of inventory: teardowns and those that require major renovations. "These sellers will need to reduce prices further if they want to attract buyers."
Lauren Melo, PA, Licensed Real Estate Broker with Florida's Realty Specialists and NABOR®'s President, said she's seen "a small increase in the number of distressed properties on the market mostly due to loan modifications that didn't work out." On a positive note, Melo added that "good rates and good deals from lenders right now should help more buyers purchase homes."
If you are looking to buy or sell a home in Naples, contact Stacie Ricci of Berkshire Hathaway Florida Realty, a Naples REALTOR® who has the experience and knowledge to provide an accurate market comparison or negotiate a sale. Stacie can ensure your next purchase or sale in the Naples area is a success. Search for your dream home at

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Stacie Ricci,REALTOR
239-777-5983 Mobile
Berkshire Hathaway HomeServices Florida Realty
621 Fifth Ave. S.
Naples FL 34102

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