Hoffmann Family of Companies, operated by Naples resident David Hoffmann, on Friday acquired Old Collier Golf Club, a prestigious 18-hole championship course on nearly 400 acres in North Naples.

The purchase price for the property has not been disclosed yet. Situated along the Cocohatchee River, west of U.S. 41, the property originally was purchased for $7,299,000 in December 1998 by the Old Collier Golf Club Inc., an affiliate of Collier Enterprises, a Naples-based real estate investment and development firm. Celebrating its 20th anniversary this year, the Old Collier Golf Club offers invitation-only membership and does not have a residential component. Its stately clubhouse at 790 Main House Drive is recognized for its fine-dining and wine program. The park-like setting course was designed by notable golf course architect Tom Fazio, who has created some of the top courses in the United States for decades.
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August Real Estate Market Report: Low Inventory, Strong Demand

Naples, FL (September 24, 2021) – Demand for homes in Collier County kept REALTORS® busy in August, even as inventory dropped 77.3% to 1,249 homes from 5,503 homes in August 2020. According to the August 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), REALTORS® escorted buyers on over 30,000 home showings in August! The month’s strong showing activity—coupled with a 76.8% decrease in days on market to 22 days—means most homes were listed, shown, and sold in less than 30 days.

“Pent up buyer demand that began last summer has stretched inventory thin,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., who added that “this could lead to upward pressure on pricing.”

Historically, median closed prices of homes sold during summer months tend to be lower than median closed prices of homes sold during high-season months (January through April), but that trend did not occur this year. According to the report, the median closed price reported in August was $75,000 higher than the median closed price reported in January 2021.
The median closed price of homes sold increased 11.7% in August to $441,300 from $395,000 in August 2020 (median price is the price at which 50% of the homes sold were above that price, and 50 percent were below).

The Lee County Board of Port Commissioners authorized the construction and total budget for the terminal expansion project at Southwest Florida International Airport (RSW) in Fort Myers

at a board meeting Tuesday. The $331 million project focuses on improving the airport’s efficiency by consolidating and streamlining security checkpoints, adding concession space and providing passengers more amenities and options. The terminal expansion project is set to begin in October and construction is planned for three years. The expansion is the second largest public works project in Lee County history, only being surpassed by the airport’s Midfield Terminal Complex construction completed in 2005. The consultant working on design and planning of the RSW Terminal Expansion Project is Atkins North America, Inc. The construction manager/general contractor for the project is Manhattan Construction.
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Southwest Florida tourism is booming despite the spike in COVID-19 cases that the state recently experienced. Lee and Collier counties continue to have a record-breaking year for tourism. Brian Hamman, Lee County commissioner and chair of the Tourist Development Council, said most hotels in the area are booked. "We anticipate our August tourism numbers to be the best August that we have ever had in the history tracking Lee County tourist numbers," Hamman says. "In fact, every month this year has been better than it was even in 2019." In July, Southwest Florida International Airport had more than 7,000 incoming and departing flights, a 51% increase compared to July of last year. (Source: WinkNews)

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Frenzy Fades to a Simmer as Inventory Dips Going into Summer

Naples, FL (July 23, 2021) – With less than a one month supply of inventory available, the Naples area housing market experienced a 14.5% decrease in overall pending sales in June to 1,256 pending sales from 1,469 pending sales in June 2020.

Low inventory levels in June also contributed to a 7% decrease in showings for the month. This simmering of activity has broker analysts who reviewed the June 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), certain that the wild housing market frenzy that began about a year ago – peaking in March – is now decelerating and being replaced with a new level of activity that reflects improved market equity for sellers and sustained buyer interest from people seeking permanent residency.

“Inventory is turning over daily,” said Brenda Fioretti, Broker Associate at Berkshire Hathaway HomeServices Florida Realty. “That’s an important point for buyers to understand because many people think the inventory number we report is all that is available for the month. But that’s not true. Multiple home buying opportunities are a daily occurrence with new listings coming on the market continually. So buyers shouldn’t give up hope when inventory is low because their dream home might become available tomorrow. Though they need to be prepared to move quickly before the home sells.”

According to the report, overall inventory decreased 78.8% to 1,271 homes in June from 6,003 homes in June 2020. As expected going into summer, new listings decreased 12% in June to 1,147 new listings from 1,303 new listings in June 2020. However, in the first six months of 2021, new listings have increased 9.9% to 8,744 new listings compared to 7,957 new listings reported during the first six months of 2020. In fact, the number of new listings during the first six months of 2021 was actually higher than the number of new listings reported in the first six months of any year in the last five years.

Naples, FL (June 25, 2021) – Homes in the Naples area were being sold at 99.1% of the list price in May.

A tight inventory and buyer demand continued to push prices upward in May, which resulted in an overall median closed price increase of 29.4% to $433,500 from $335,000 in May 2020, according to the May 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®).
Broker analysts reviewing the report predict continued price increases in 2021, but noted monthly showing and sales activity is beginning to show signs of deceleration from the remarkable market experienced during the first quarter of 2021.

Babcock Ranch has reached nearly 1,400 new homes sold and surpassed 1,000 closings...

with home sales at 1,386 and closings at 1,027, Kitson & Partners, who created the community, announced.

The fast-paced sales activity has been fueled by 342 home sales year-to-date in America’s first solar-powered town, located just northeast of Fort Myers on Babcock Ranch Road/State Road 31.
Encompassing 18,000 acres, with 19,500 planned residences and 6,000,000 square feet of commercial space, Babcock Ranch ranked 34th on both RCLCO Real Estate Advisors’ and John Burns Real Estate Consulting’s 2020 list of the country’s 50 top-selling master-planned communities.
Babcock Ranch began marketing new homes in 2017, with the first residents moving into the town in January 2018. Today, Babcock Ranch offers homes from seven homebuilders in seven neighborhoods. 

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Vacation home sales rose 16.4% in 2020, according to the National Association of Realtors.

People especially are picking Lee County to call their home away from home, propelling Fort Myers and Cape Coral to the number one spot in the country for vacation home sales. 

People who want to live in the region are buying homes at a record pace. Homes that used to sell in weeks are gone in days. People are buying permanent homes and vacation homes too. Inventory is moving faster than ever, creating hot competition in the Cape Coral housing market. There are fewer “for sale” signs, and those who want to sell don’t wait long, ©WINK News reports.

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Investors fear inflation and mortgage rates usually rise. But investors appear to believe the Fed when it says the U.S.’s current bout of inflation is only temporary.

NEW YORK – The 30-year fixed-rate mortgage averaged 2.96% for the week ending June 10, according to Freddie Mac’s weekly report – down three basis points from the previous week.

The 15-year fixed-rate mortgage fell four basis points to an average of 2.23%. The five-year Treasury-indexed adjustable-rate mortgage averaged 2.55%, down nine basis points from the prior week.

Mortgage rates usually move roughly in tandem with long-term bond yields, including the 10-year Treasury, and the past week was not an exception. However, it’s not common to see inflation rising without stocks falling at the same time.

“The Freddie Mac fixed rate for a 30-year loan dropped along with the 10-year Treasury yield this week, as investors seem to accept the Federal Reserve’s view that the current inflation is temporary, and a patient monetary response continues to be warranted,” says Realtor.com chief economist Danielle Hale. “Housing bubble and crash worries are common, even showing up in a record-low share of people saying it’s a good time to buy a home.”

Source: MarketWatch (06/10/21) Passy, Jacob

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Homes.com: In the past six months, 82% of listings sold for list price or higher, plus 1 in 10 had no showings before contract signing, and 1 in 4 had 5 showings or less.

NEW YORK – With a low supply of homes for sale, sellers find sales happen quickly and fetch higher and higher offers. In the past six months, 82% of owners who listed their home accepted offers at list price or above, according to a new survey of about 1,600 homeowners conducted by Homes.com.

What’s more, homes are selling faster too:

25% of home sellers said they had five or fewer showings before finding a buyer

26% had between six and 10 showings before selling

Nearly 10% say they had no in-person showings at all and still sold their home due in part to the uptick in virtual tours that have been increased during the pandemic.

In April, almost 9 out of 10 homes sold were on the market for less than a month, according to National Association of Realtors®.

Twenty-seven percent of sellers surveyed say they accepted offers $10,000 or even $20,000 higher than their requested sales price, according to the Homes.com seller survey.

Sellers expect more than just the best price from offers lately. Many sellers in the Homes.com survey said say they refused to consider offers with any contingencies or other strings-attached: 28% required all-cash payments, no contingencies, and 30 days or less to close, and 14% opted to sell their home “as is.”

Source: “How Are Sellers in the Current Market REALLY Doing?” Homes.com (June 8, 2021)

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