The tables have turned in the resale market with more single-family homes than last year and fewer condominiums to choose. About a year ago, the resale market was the complete opposite with a scarce amount of single-family homes and an abundance of condos for sale.
Currently, inventory for single-family homes grew by 4 percent and the number of condominiums decreased by 7 percent according to a monthly report that was released by the Naples Area Board of Realtors. The trends of sales for single-family homes continue to show stability in Collier County, excluding Marco Island.
The only area in Naples that did not increase single-family home inventory, but decreased by 17 percent was Central Naples. In North Naples, inventory rose 14 percent. Immokalee and Ave Maria inventory rose 24 percent. An overall 20 percent increase in the availability of homes priced from $500,000 to $1 million.
Old Naples has been reported to have more than a year and a half supply of inventory making it an over-balanced market supply. Median price for all homes and condos sold in October rose 9 percent from $265,000 to $290,000.
According to a study conducted by the Federal Reserve of Atlanta, Naples is the most economically dynamic small city in all of Florida and ranks 25th nationally. They released a small City Economic Dynamism Index on November 17th which consisted of 244 small cities that were studied. Naples and Marco Island metro area ranked first out of 11 cities in Florida.
Criteria of the study included metros with populations between 50,000 and 500,000, demographics, economics, human capital and infrastructure. They compared the positives and negatives of each of the indicators which came from government sources to rank the cities. Senior community and economic development advisor of Atlanta Fed, William Lambe, believes Naples is on an upward spiral and will continue to prosper.
Dennis Hanthorn, a man with more than 3 decades of music organization leadership has taken the role as executive director of Opera Naples. The company made the decision after almost 6 months of searching for a perfect fit. He is said to be “mission-minded” and will be a grand addition to Opera Naples. He has experience as a managing director for 7 years at the Dayton Opera Association in Ohio, 15 years as the general director at Milwaukee Florentine Opera Company, and 8 years as general director and CEO of the Atlanta Opera.
In all positions he served an irreplaceable role by balancing the budgets and helping the companies maintain stability during the recession, but overall had success in doing so. He actually helped them profit more than expected. He left the Atlanta Opera with $6 million in the bank and $1.2 million in reserve funds.
Hanthorn has a masters degree in music administration from the University of Cincinnati College Conservatory of Music. He also has served as secretary and membership committee chair of the membership committee on the board of directors of OPERA America, the nonprofit support organization for companies and professionals.
He has replaced Carol Shaw, the former executive director and CEO of Opera Naples, who retired in June at the end of the 2014-2015 season.
Walmart has yet again impressed us not with their everyday low prices, but with a new grocery pick up service. This pick up service means no more wandering up and down the aisles or waiting in the check out line. You can even order up to three weeks in advance online. They do require you to spend $30 or more.
If you’re interested in this pick up service, you must create an online account at walmart.com/grocery and enter your address to see if your area has a nearby participating store. So far there are four markets in Florida including Naples, Tampa, Orlando, and Fort Lauderdale.
If you’ve ever driven on US-41 through Bonita Springs, a 16th century Spanish galleon may have caught your attention. This landmark once housed an upscale restaurant and then later a bingo parlor and also a nightclub. However, it has been empty for about seven years. Rumors swirled for some time of what would become of the ship.
The ship sits on 3.62 acres was listed for $4 million. A New York-based developer has confirmed that the ship will be torn down and a new senior living community will take its place. A $50,000 demolition is scheduled for Friday, November 13th.
United Group, a limited liability company has purchased the land the ship sits on for $1.7 million and also a 3.8 acre parcel just south of the ship for $2.4 million. They will combine the two properties to build a 295,000 square-foot senior living community for active adults ages 55 and up.
There will be 11 different floor plans offering one and two bedroom units in the first three stories of the building and penthouses on the fourth. They also plan to build a 12,000 square-foot clubhouse with a bistro bar, fitness center, media room, activities room, salon, and commercial kitchen. A variety of amenities offered will include an outdoor patio, large pool area, boccie courts, and a putting green. The apartments are expected to rent for $1,900 a month to $4,200 a month.