INVENTORY HITS 3 YEAR LOW
Report Shows Increase in Median Closed Price
NAPLES, Fla.-July 16, 2010- Home and condo inventory in the Naples area continues to decline steadily. It is now at a 3-year low 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 available inventory decreased 9 percent in the second quarter of 2010 to 8,845 properties, compared to 9,681 properties in the second quarter of 2009. “The 2 million plus price range saw a 24 percent decrease in inventory, the largest decline when compared to all other price ranges,” stated Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty. Inventory in the Naples area has now reached equilibrium between supply and demand with 11.3 months of inventory. According to Cindy Carroll, Vice-President of Carroll & Carroll an independent fee appraisal firm in Collier County with over 24 years experience, “I find a neighborhood has achieved equilibrium of supply and demand when the number of current listings equals the number of sales in the prior 12 months.” The one million and above price range showed the greatest increase in pending and closed sales. In the second quarter of 2010, pending sales increased 38 percent and closed sales increased 48 percent compared to the same quarter last year. “We are continuing to see strong activity in these price ranges in July and expect a reasonable level of sales throughout the summer,” stated Phil Wood, President of John R. Wood REALTORS®. The second quarter 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 saw an 8 percent increase, with 2,807 contracts in the second quarter of 2010 compared to 2,600 contracts in the second quarter of 2009. • Overall home sales for the 12 months ending June 2010 increased 42 percent with 8,173 sales compared to 5,744 sales for the 12 months ending June 2009. • Single-family sales increased 8 percent with 1,215 sales in the second quarter of 2010 compared to 1,127 sales in the second quarter of 2009. Single-family pending sales in the $1 million to $2 million price range increased 61 percent with 92 contracts in the second quarter of 2010 compared to 57 contracts in the second quarter of 2009. • Condo sales increased 31 percent with 1,270 sales in the second quarter of 2010 compared to 968 sales in the second quarter of 2009. The overall median closed price increased 14 percent to $200,000 in the second quarter of 2010 up from $175,000 in the second quarter of 2009. “The price range that showed the largest increase in median closed price was the under $300,000 category with a 10 percent increase to $140,000 in the second quarter of 2010 compared to $127,000 in the same quarter last year,” stated Mike Hughes, NABOR Media Relations Director, and Vice-President of Downing-Frye Realty. The June 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 increased 4 percent to 847 contracts in June 2010 compared to 813 in June 2009. • For the 12 months ending June 2010 single-family home sales increased 31 percent with 4,181 sales compared to 3,183 sales for the 12 months ending June 2009. • Condo pending sales for the 12 months ending June 2010 saw a 55 percent increase with 4,759 contracts compared to 3,073 contracts for the 12 months ending June 2009. 
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Agency >Who Pays the Commission
Does it cost the homebuyer more to be represented by a buyer's agent who serves their interests exclusively? No, because the listing agent splits the sales commission, which is customarily paid by the seller of the home, with the buyer's agent. The sales commission split is usually 50-50, but the listing agent and buyer's agent will sometimes make another agreement and split the commission unequally.
There is one very unusual circumstance in which the homebuyer might pay a commission to their buyer's agent. The real estate agent might show the buyer a local "for sale by owner" (FSBO) home which the client decides to purchase. In most cases, the FSBO seller who is presented with a qualified buyer is glad to pay the buyer's agent a reduced fee of about 3 percent, or half of a normal sales commission. But the FSBO seller could stubbornly refuse to pay the buyer's agent any commission whatsoever. In that case, the buyer's agent would legitimately expect the buyer to pay the sales commission, in fair exchange for the agent finding the FSBO home and negotiating a successful transaction.
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| Q |
Which famous home designed by Thomas Jefferson showed forms of Greek and Roman architecture?
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| A |
Monticello, begun in 1769, was later enlarged in keeping with its classical forms. |
 See More Real Estate Trivia > |
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Marybeth Brooks, REALTOR R
Licensed Real Estate Broker
Campbell & Prebish, LLC
1167 Third Street South Suite 209
Naples, FL 34102
Cell: 239-272-6867
Fax: 239-262-4601
www.MarybethBrooks.com
Marybeth@CampbellPrebish.com
Marybeth's business philosophy is simple, she is obligated to protect the best interests of her clients throughout their real estate transaction. She also maintains a personalized real estate practice. It is based on a One on One relationship building. When clients choose to work with Marybeth, they work with her personally. She knows the market, current inventory and unique situations surrounding each home in her specialty areas. This benefits both Sellers and Buyers.
Her participation with her clients does not end with the completion of a sale. She is available for ongoing consultation, market evaluation, vendor referral and recommendation. Satisfied clients are the foundation of her success.    
 
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