Cash homes sales in Naples hit nearly 60%

Nearly 60% of Home Sales in Naples Transacted in Cash
A recent report highlights a significant uptick in cash purchases for homes in Naples, Florida, from the latter half of 2023 through early 2024. Compiled by a local naples real estate agent using Attom Data, the report reveals Naples as the regional leader, with 58.9% of transactions conducted in cash. Close behind are Cape Coral and Fort Myers, with 52.2% of home sales completed through cash transactions. This surge is credited to the allure of Southwest Florida's vibrant coastal communities for both investors and homebuyers. Despite higher interest rates in 2023, cash transactions persist due to their speed and certainty, offering buyers a competitive edge. The data underscores a strong demand for properties in the area, reflecting buyers' confidence in the region's long-term investment potential. For more information on this article, please visit the full webpage at https://www.businessobserverfl.com/.

For those interested in buying or selling real estate in Naples, Florida, it is recommended to contact Mike Shoaff, a Realtor with expertise in the Naples Fl area.

Naples' Newest Record-Breaking Listing: A Closer Look at the $295 Million Estate

Discover Naples' priciest listing yet! Although not my listing, I'm ready to assist any interested buyers. This remarkable residential property in Naples has just hit the market, boasting a staggering price tag of $295 million.

Nestled within the prestigious Port Royal neighborhood on a sprawling 9-acre waterfront compound known as Gordon Pointe, this property's address is 100 Bay Road.

The estate, spanning 22,800 square feet, features six bedrooms, 20 full bathrooms, and four half baths. 

What the listing does highlight is the property's impressive 1,665 feet of water frontage, comprising 728 feet of beachfront and 927 feet of bayfront, alongside a 231-foot yacht basin and a 111-foot T-dock.

Putting this extraordinary price into context is challenging, even in Port Royal, where multimillion-dollar listings are not uncommon. For instance, just last week, a 13,872-square-foot, two-story home was listed for $45 million, while in March, a house on Galleon Drive sold for $46.8 million.

Should this property sell at its asking price, it would shatter records as the most expensive house ever sold in the United States, surpassing the previous record held by a penthouse at 220 Central Park South in Manhattan, purchased by hedge fund billionaire Ken Griffin for $238 million in 2019.

Given its size and location, the fate of the house, built in 1989, remains uncertain. The listing brokers,  hint at the property's potential for redevelopment, suggesting it could become an exclusive family compound or be subdivided into several luxury home sites.

For more information on homes in Naples, contact Naples Florida top realtor  Mike Shoaff with RE/MAX Hallmark in downtown Naples, Florida.

Naples Shines on 'Jeopardy!' as Pickleball Capital of the World

Naples, Florida, known for its luxurious amenities and stunning coastline, received a moment in the spotlight on the popular game show "Jeopardy!" when a clue about the city's designation as the "capital of the world" for pickleball was featured. Contestant Lisa Sriken correctly identified the sport, showcasing Naples' prominence in the pickleball community. With its annual hosting of the Minto U.S. Open Pickleball Championships and ongoing construction of new courts, Naples solidifies its reputation as a hub for pickleball enthusiasts. 

For a list of the best pickleball communities, contact me today. I have a list of public and private areas that you may be interested in. Mike Shoaff, Naples Real Estate Agent with REMAX Hallmark in downtown Naples.

Mike Shoaff, REALTOR - REMAX Hallmark Naples, Fl

Seizing Opportunities: How Decreasing Mortgage Rates Benefit Homebuyers

Aspiring homeowners embarking on the journey to purchase their dream home must comprehend the critical impact that mortgage rates wield on their financial capabilities. Fortunately, the landscape for 30-year fixed mortgages has witnessed a noteworthy decline since late October, currently resting at below 7%, as reported by Freddie Mac. This encouraging trend heralds advantageous prospects for buyers, as emphasized in a recent Bankrate article:

"The rate cool-off somewhat eases the housing affordability squeeze."

Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA), reinforces this positive outlook, stating:

"MBA expects that affordability conditions will continue to improve as mortgage rates decline..."

Understanding the Intersection of Mortgage Rates and Home Affordability

Comprehending the intricate relationship between mortgage rates and your monthly home payments is pivotal in realizing your aspirations of homeownership. Visualizing the impact of mortgage rate fluctuations on your ability to afford a home is crucial. For instance, consider a budget allowing for monthly payments between $2,400 and $2,500; the chart showcases payments within or below this range in green.

Leverage Guidance from Trustworthy Real Estate Experts like Mike Shoaff Realtor at REMAX Hallmark in Downtown Naples to Navigate Your Budget and Plan Strategically

When delving into the realm of purchasing a home, seeking counsel from a local real estate agent and a reputable lender is imperative. These professionals can assist in exploring diverse mortgage options, comprehending the factors influencing mortgage rate fluctuations, and deciphering their ramifications on your financial situation.

By synergizing numerical data with the latest market trends and recalibrating your approach based on current rates, you equip yourself with better preparedness to actualize your homeownership goals.

Key Takeaway

For prospective homebuyers, the recent downturn in mortgage rates signifies a favorable turn of events. Collaborate with a trusted real estate agent and lender to formulate a strategic plan for your next steps towards homeownership.

Ready to navigate the dynamic real estate market in Naples and secure your dream home amidst favorable mortgage rates? Reach out to Mike Shoaff, the top realtor in Naples Florida at REMAX Hallmark in Downtown Naples. With his unparalleled expertise and dedicated guidance, Mike will ensure you make informed decisions and find the perfect home tailored to your needs. Contact Mike Shoaff today to embark on your journey to homeownership with confidence!

Inventory increases while home prices decline in November.

 

The Naples housing market in December 2023 saw a significant increase in residential properties, yet the supply for buyers remained limited since September 2020. The November 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®) highlighted a rise in price reductions, leading to a 3.3 percent decline in the aggregate median closed price. Notably, most price reductions were due to homes being initially listed at higher prices compared to recent comparable sales.

November marked the highest number of price reductions in six months, resulting in a decrease in the median closed price from $600,000 to $580,000 compared to the previous year. This decrease was one of only four instances in the year when median prices dropped, highlighting a shift in the market trend.

Moreover, pending sales fell by 13.8 percent, and closed sales dropped by 6.1 percent in November 2023 compared to the same period in 2022. Analysts speculated whether the Federal Reserve's plan to reduce interest rates in 2024 might have deterred some buyers.

The report also emphasized differences in inventory levels between single-family homes and condominiums. Condo inventory surged by 74.5 percent, attributed in part to obstacles preventing sellers from listing properties affected by hurricane damage from the previous year. Additionally, rising interest rates, property insurance, and taxes in 2023 made home maintenance costs in Florida challenging for many homeowners, contrasting with the urgency seen in 2021 and 2022 when rates were low.

Overall, the market appears positioned for robust winter sales contingent on sellers setting competitive prices and buyers maintaining confidence in their investments. The report signifies a complex interplay of factors influencing the Naples real estate market.

Connect with Mike Shoaff, Naples Florida REALTOR, for expert guidance on selling or buying in this market. Start your 2024 selling plans today!

Exploring Hidden Gems in Naples Florida

Exploring Hidden Gems in Naples

As the seasons change in Naples, it’s an ideal moment to delve into the establishments and services that consistently elevate this city to an exceptional destination. Beyond the typical roundups of restaurants and tourist spots, we’re here to unveil 10 extraordinary businesses and experiences that might have slipped under your radar. These are the hidden gems, treasured by locals and waiting to be discovered by visitors. So, here's the exclusive list:

Top Beach Pick

Naples boasts stunning beaches, but Delnor-Wiggins Pass State Park stands out among the best. With its warm waters, immaculate sands, serene Gulf of Mexico views, and glimpses of Southwest Florida's exotic birdlife, this spot offers more than just a beach day. Activities like fishing, snorkeling, and hiking cater to nature lovers and families, while its natural estuaries provide a gateway to exceptional boating experiences.

Finest Music Scene

Celebration Park, nestled in the rejuvenated Bayshore District, blurs the lines between a foodie's paradise and a live music haven. Picture rows of food trucks from Naples' finest eateries culminating in a four-sided bar overlooking the Gulf's waterways. During winter evenings, live music fills the air from 6 to 9 pm, welcoming patrons to dock their boats alongside other customers.

Ultimate Burger Joint

Brooks Burgers, a longstanding favorite on Naples' "cheap eats" lists, consistently serves up delicious, flavorful burgers. This family-owned establishment, with three locations across Naples, offers an array of options from classic cheeseburgers to inventive specialties like the Donut, Rajin Cajun, and fig and goat cheese creations. Expect prompt, friendly service—plus, at the North Naples locale, your order might even arrive via robot.

Premium Fitness Experience

Join Co-owner and instructor Jake Maulin's 9:00 am CycleBar Naples ride for a transformative blend of a musical concert, workout, and motivational experience. Discover why just 45 minutes on a bike here can invigorate your day and potentially change your lifestyle.

Excellence in Watch Repair

Quality Time Service, a veteran-owned establishment, provides swift watch repairs within a remarkable 15-minute wait time. They specialize in repairing modern, vintage, and antique timepieces and offer a one-year warranty on all repair services—impeccable expertise at remarkably reasonable rates.

Pinnacle Pain Clinic

Symmetry Exercise Clinic specializes in muscle system repair, often as an alternative solution when traditional medical options fall short. Their focus on improving pain within three sessions or less has garnered praise from Naples clients and physicians alike.

Supreme Brunch Spot

Jane’s Café on Third remains a not-so-hidden treasure, offering British and American fare in a relaxed indoor/outdoor setting near Camargo Courtyard's fountain. Despite weekend crowds, the wait is worth it for their delectable omelettes, refreshing salads, innovative wraps, and delightful beverages in a picturesque setting.

Finest Ice Cream Haven

Amidst Naples' balmy weather, Kilwins stands as a family-owned oasis for exquisite ice cream, fudge, and truffles. Their Mercato and Olde Naples locations are renowned for creamy, delightful ice cream flavors—don't miss trying their coconut ice cream, it's a standout!

Top-notch Framing Service

At West Coast Art & Design, owned by Alejandro “Alex” Nunez and Maria, artists work closely with clients to frame, update, and restore artwork. Their expertise, combined with reasonable prices, ensures your treasured pieces receive the treatment they deserve.

Authentic Taco Destination

Maria’s Tacos y Mas offers some of Southwest Florida's most authentic and flavorful Mexican cuisine. While seating might be limited, their expansive menu and warm service promise a delightful taco experience, with special deals on Tuesdays.

Ready to explore these hidden gems and uncover more of Naples' treasures? For further details on happenings and things to do in Naples, Florida, reach out to Naples FL Real Estate Agent Mike Shoaff. Discover the secrets that make Naples shine!

Contact Mike Shoaff for more info on Naples experiences and activities:

Phone: 239-298-9903

Email: mshoaff @ remax.net 

Website: http://mshoaff.remax.com 

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Discover Treviso Bay: Your Ultimate Resort-Style Living Experience in Naples

Treviso Bay epitomizes resort-style living nestled in the heart of Naples. It's an exquisite Gated, Bundled Golf Community offering a plethora of living choices. The community boasts an array of splendid features, including an 18-hole TPC designed championship golf course, professional tennis courts, a fitness center, and two private clubhouses featuring fine dining, shops, and spa services.

Treviso Bay offers a bundled equity golf membership or a social membership with the purchase of all its homes, making it the sole TPC bundled golf experience available in Naples. When perusing homes for sale in Treviso Bay, ensure to confirm whether the home comes with a golf membership or a social membership.

As you explore Treviso Bay homes for sale, you'll encounter various home styles. From Terrace condos in four different neighborhoods offering 2-bedroom condos with covered carports to Veranda condos with 2 bedrooms plus a den and a 1-car garage, and Coach Homes featuring 3 bedrooms with attached 2-car garages. Additionally, the community comprises single-family homes, both built by designated builders and custom homes. Notably, the Peninsula at Treviso Bay showcases fifty-five custom-finished estate homes with breathtaking views and luxurious finishes, all including the coveted TPC golf membership, constructed by Imperial Homes of Naples, LLC.

AMENITIES:

Central to Treviso Bay is the opulent 64,000 square-foot Grand Clubhouse, overlooking the 9th and 18th holes, offering fine dining, billiards, and an award-winning pro shop. Additionally, Villa Rilassare (The Club), a 15,000 square-foot clubhouse, boasts resort-style lagoons, lap pools, a tennis center with a pro shop, a state-of-the-art fitness center, spa, salon, restaurant, and a variety of recreational options including bocce ball, pickleball, aerobics, Pilates studios, onsite fitness instructors and classes, and tennis and golf pros to refine your game.

Treviso Bay's unique Mediterranean-inspired design features elegant bridges, fountains, and landscaping, enhancing the allure of the homes nestled in Naples, Florida. Each condo and coach home neighborhood also hosts beautiful satellite pools equipped with restrooms, cabanas, grills, and more. The single-family homes are located in various neighborhoods within Treviso Bay, such as Bella Firenze, Corso Bello, Italia, Peninsula, Ponte Rialto, Vercelli, Siracusa, Via Veneto, Piacere, and Via Veneto Villas.

Moreover, the Treviso Bay TPC golf course in Southwest Florida grants its members exclusive golf privileges throughout the United States, a remarkable perk unique to this community.

HOMES FOR SALE:

Interested in buying or selling in TREVISO BAY? Contact Naples FL Realtor Mike Shoaff today for an updated list of homes and condos for sale or visit the link below.

HOMES & CONDO FOR SALE 

Q&A About Treviso Bay

For those curious about Treviso Bay, we often receive inquiries like:

• Q: How far is Treviso Bay from downtown Naples?
  A: Treviso Bay is conveniently located less than 5 miles from downtown Naples. In under 15 minutes, you can relish the world-class shopping, dining, and art galleries of downtown Naples and its proximity to Tin City.
• Q: When was the Treviso Bay TPC course built?
  A: The course was designed by Arthur Hills, Bruce Howard, Hal Sutton, Steve Forrest & Associates, and opened in 2008.
• Q: Is Treviso Bay gated?
  A: Yes, the community of Treviso Bay in Naples Florida is secured by a 24-hour manned gate. Visitors must pass through the gate, presenting identification to the guard. Additionally, Treviso Bay residents have a gated entrance on Tamiami Trail East (Hwy 41) exclusively for residents' use.
• Q: What type of grass is used for the greens on the Treviso Bay TPC course?
  A: TifEagle Bermuda Grass. The greens were re-grassed from paspalum to TifEagle Bermuda Grass in 2020 for smoother and speedier performance, while the collars are now grassed with TifGrand.
• Q: Is TPC Treviso Bay private?
  A: Yes, Treviso Bay is a private residential community, and TPC Treviso Bay golf course is private.
• Q: When was the last time the Treviso Bay TPC course was renovated?
  A: In 2020, a $3 million renovation commenced to enhance the course, unveiling the enhancements later that year. The renovations included re-grassing all 18 greens, repositioning three greens, reconstructing bunkers with ZLine bunker liners and G-Angle sand, and more to elevate the playing experience.

In 2020, Treviso Bay was voted #1 among the "Top 11 Bundled Golf Communities in Naples Florida for 2020."