02 Aug Shadow Wood at the Brooks Real Estate News | August 2017
As of August 1, 2017, there are 56 active listings in Shadow Wood; 8 less than last month. There are 38 single-family, listed homes ranging from $505,000 to $2,850,000. The average list price is $1,040,013 and the average days on the market is 148 days. Combined days on the market is 228. In the condo market, there are 18 active listings in Shadow Wood. Ranging in price from $284,900 to $615,000. The average list price is $418,433 and the average days on the market is 170. Combined days on the market is 190.
Whether you are buying or selling, if you are looking for REALTOR® representation, think of me and allow me to share my 30 years of experience putting buyers and sellers together in SWFL
Your Shadow Wood REALTOR®,
SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 23 sales; the average sales price was $391,587; and, these condos were on the market an average of 117 days; combined days on the market is 197.
- During the 12 months previous, there were 26 sales; the average sales price was $374,112; and, these homes were on the market an average of 40 days; combined days on the market is 102.
- During the 12 months previous, there were 45 sales; the average sales price was $981,521; and, these homes were on the market an average of 107 days; combined days on the market is 197.
- During the 12 months previous, there were 46 sales; the average sales price was $992,804; and, these homes were on the market an average of 103 days; combined days on the market is 190.
Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.
Shadow Wood 2017 Tennis & Bocce Events
Be sure to fill your calendar with 2017 tennis and bocce events. Here’s 2017’s schedule:
Click here for membership information.
AUGUST MARKET UPDATE
“Downing-Frye’s July pending sales volume was up 16 percent compared to July of 2016,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty, Inc. “This increase was buoyed by a well-performing market in the $500,000+ price range. The $1,000,000+ price range increased 72 percent in pending sales contracts, the $500,000-$750,000 price range increased 44 percent, and the $750,000-$1,000,000 price range was up 21 percent. The July pending sales below $500,000 are about 73 percent of what they were last July. Overall, we continue to experience a sound market with remarkable consumer confidence. Downing-Frye was recently installed in the Naples Daily News People’s Choice Hall of Fame for having won the People’s Choice award 32 times. No other real estate brokerage has ever accomplished this, and it’s a tremendous honor to be recognized in this way. Additionally, we were voted the best commercial real estate office. Our agents can be very proud.”
June 2017 indicated increased activity only for pending and new listings that are priced-to-market. “We saw a total of 278 price reductions in June, but more is still needed in the $300 to $500K price segment,” stated Jerry Murphy, Managing Broker, Downing-Frye. “New build homes are presenting a great deal of competition in the market, requiring re-sale home sellers to examine their pricing and offerings very closely.” He adds, “Offering a home warranty and taking the necessary steps to prepare a home for listing is critical to get buyers’ attention.” Pending sales in June were up 12 percent over June 2016 and closed sales were up 8 percent. The inventory remained about the same at 1,440 properties for sale, which represents a 6.2 month supply.
FLORIDA: HIGHER PRICES, MORE SALES IN JUNE
Florida’s housing market had more closed sales, higher median prices and more new listings in June. The statewide median sales price for single-family existing homes last month was $245,000, up 8.9 percent from the previous year, according to data from Florida Realtors Research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in June was $176,820, up 7.2 percent over the year-ago figure. June was the 67th consecutive month that statewide median prices for both sectors rose year-over-year. Inventory remained tight in June with a 3.9-months’ supply for single-family homes and a 5.8-months’ supply for townhouse-condo properties, according to Florida Realtors. The interest rate for a 30-year fixed-rate mortgage averaged 3.90 percent in June 2017; it averaged 3.57 percent during the same month a year earlier.
USA: EXISTING HOME SALES DOWN SLIGHTLY
Existing-home sales slipped in June as low supply kept homes selling at a near record pace. Lawrence Yun, NAR chief economist, says the previous three-month lull in contract activity translated to a pullback in existing sales in June. “Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget,” he said. “The demand for buying a home is as strong as it has been since before the Great Recession. Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines. The good news is that sales are still running slightly above last year’s pace despite these persistent market challenges.”
Shadow Wood Country Club Chef Named High Honors in Orlando
Shadow Wood Country Club announced that their Executive Chef Richard Crisanti (CEC, CCA, ACE) has won the American Culinary Federation’s Presidential Medallion at its national “Cook. Craft. Create.” convention this week in Orlando. This award is the highest honor that a chef can receive through the ACF Chefs. Chef Rich responded to the honor, “Thank you all for your responses and congratulatory wishes in regards to my ACF Presidential Award. It is a true honor to receive this prestigious Medallion. I thank you all again for your support and it is my privilege to be Shadow Wood Country Club’s Executive Chef.”
A Word from Downing-Frye Broker & General Manager, Mike Hughes
The July numbers are starting to roll in. They are sending mixed signals. Our pending transactional sides for the month of July were down 11% compared with last July. However, our pending sales volume for the month of July was up 16% compared with last July. So, what happened? The markets above $500,000 performed well. The price ranges below $500,000 did not perform as well as they did the previous July. The $1,000,000 and above price range saw a 72% increase in pending sales contracts. The $500,000 – $750,000 price range in July saw a 44% increase in pending sales contracts. The $750,000 – $1,000,000 price range saw a 21% increase in pending sales contracts for the month (compared with last July ). Now below $500,000 is a different story. Last July (2016), we had 181 pending sales below $500,000 for the month. This July (2017) , we had 133 pending sales below $500,000.
5 Questions to Ask a Home Inspector
Home buyers would be wise to interview a home inspector before they hire one. But what should they ask? Here are a few questions to consider:
2. What do you charge for an inspection?
Home inspections typically cost between $300 to $600. That will depend on the size of the house and the market area, however. Lesh cautions buyers about choosing an inspector based on a low price alone. “That’s often a sign they’re having trouble getting customers,” he says.
3. How many inspections have you done?
You can’t discount a home inspector just because they’re new on the job. That doesn’t mean lower quality. But experience is also important, especially if your home is an older one or something with unusual home features, realtor.com® notes.
4. Can I come along during the inspection?
Inspectors should want you present during the inspection. They’ll be able to explain the home’s system and how it works. The opportunity also gives you the chance to ask questions and get clarifications. A red flag would be a home inspector who asks you not to join him or her.
5. Can I view a sample report?