Category Archives: Local Real Estate

It’s Still a Great time to Buy or Sell….

After three years of relatively stable first quarter closings, home sales for Naples, FL Q1 – 2014 posted a 13% increase.  Sales between $2 million and $5 million remained brisk, (101 closings) posting the highest number of closings in this segment (for any quarter) since Q2 2005, when there were 117 closings.  Average closed price for the first quarter increased 19% over prior year, driven by the large number of sales over $2 million.  However, both average and median sales price remains 32% below their highs for the quarter in Q1 2007.

Sales above $2 million posted a 66% gain in the number of sales and an increase in volume of 74% over Q1 2013.  Median price in this segment remained stable at approximately the same level as 2013, while median price in the overall market rose 7%. 

Properties priced below $250,000 continue to be absorbed quickly and distress sales are shrinking, now down to 14% of the inventory (down from 19% one year ago.)

For information on Naples Real Estate please call me, Frank Petras at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results.  I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

Bay Villas at Pelican Bay

Bay Villas at Pelican Bay offers buyers tremendous value in a tranquil area situated in the south side of Pelican Bay with easy access to Clam Pass, Waterside Shops and Artis Naples.

These attached and detached villas with Mediterranean style were built between 1981 and 1983.   There are 71 units consisting of either 2 or 3 bedrooms and range in size from 1,540 square feet to over 1,900 square feet.  Many of the units have a private pool and a two car garage.   Brick courtyards and lush tropical landscaping, including magnificent palm trees are found throughout this well maintained community.  This is the closest thing to single family living without the added upkeep.

The rental policy for Bay Villas at Pelican Bay allow Bay Villa owners to rent their properties a maximum of two times a year with 60 day minimums.  Bay Villas at Pelican Bay is a pet friendly community and are conveniently located next to six tennis courts.

There are five active listings in Bay Villas as of April 2014.  Listing prices range from $680k to $795k.  Thirteen properties in Bay villas have sold in the last 2 years with an average sales price of $647k.  Sold prices range from $530k to $737k; average days on market is 106.

For information on Bay Villas or Pelican Bay, please call me, Frank Petras at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results.  I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

 

Luxury Home Sales Soar

Homes in Naples are flying off the market as soon as they are listed with the number of closings for the first two months of 2014 at the highest on record, exceeding the previous 2005 high of 1,772 closings.  The number of sales above $2,000,000 during January and February are at 2005 levels (83 in 2005 vs 82 in 2014).

Average closed sales price in Naples year-to-date is $556,377 and the average for Bonita Springs / Estero is $357,009 which is a good thing for home sellers. Median sales prices year-to-date are up 17% over the same period 2013. Sales greater than $1,000,000 posted the largest gains in average sales price, up 24.5% over the first two months of 2013. This is driven by a substantial increase in the number of closed sales above $5,000,000 (12 in 2014 vs 3 for the same period 2013).

It takes a true luxury sales professional to navigate these brisk waters. When buying or selling luxury property you can count on me, Frank Petras, for exceptional service and knowledge. Please call me at (239) 595-2221 or visit www.FrankPetras.com.
As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine
John R. Woods’ Emerald and Platinum Circles of Excellence
Realty Alliance Leading Residential Real Estate Sales Professional in North America
Appointed to Who’s Who in Luxury Real Estate
Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

How Do You Sell a $5 million Home in 48 Days? Ask Frank Petras

321 Neopolitan Way poolFrank Petras of John R. Wood Properties recently sold a $5 million single-family home in the Park Shore neighborhood of Naples, FL in only 48 days.

This extraordinary, custom, furnished, waterfront residence with a new seawall and dock is nestled in the heart of Park Shore with breathtaking expansive views of Venetian Bay.  A marble deck surrounds the oversized 40’ pool with 3-tiered waterfall/spa.  The home features a fabulous under roof outdoor entertainment area with a fireplace, bar seating and outdoor kitchen.  Windows across the entire back of this stunning home offer 180-degree panoramic water views, north to south.

This sales exemplifies how quickly properties are selling in Naples, FL and why you need an experienced and knowledgeable Realtor, like Frank, to help you with the process.  For information on similar properties in Naples, FL please call Frank Petras at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results.  I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

New Construction in Old Naples – Cottage Style, Waterfront, Single Family Homes

The town is Old, but the homes are New. mangrove bay

Seize the opportunity to live within one of Naples only remaining waterfront parcels being developed now; Mangrove Bay.  The homes in Mangrove Bay offer estuary views, a choice of one and two story layouts with private pools and individual boat slips.

52 home sites are available ranging from 2,600 – 4,000 square feet with ground floor master suites, natural gas, and Wolf/Sub-Zero appliances.  Six distinctive floor plans are available with three optional exterior elevations and customization is available.   Prices begin in the low $2 millions.

Click here for a Virtual Tour of Mangrove Bay

These homes are designed for those with exquisite taste in both their residence and unequaled lifestyle; Mangrove Bay offers exceptional Cottage Style luxury single family homes.

For more information on Mangrove Bay, please call me, Frank Petras, at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

TIBURON; New Homes in North Naples Florida

Tiburón’s relaxed resort-style ambiance is enhanced by a distinctive collection of 600 luxury condominiums and single-family homes featuring 36 championship golf holes.  Taking cue from elegant Spanish and Italian villas, this Mediterranean-inspired architecture celebrates the outdoors with courtyards, expansive lanais and balconies with views of fairways, native Florida vegetation and sparkling lakes.

Tiburon Golf ResortThere is currently available homes in Esperanza and Marsala.  Homes in Esperanza offer expansive floor plans with 3 bedrooms, 3.5 bathrooms, private elevator vestibule, expansive great room, wrap around loggia, and volume ceilings with over 2,950 sq. ft. of living space.  Prices for new construction begin at $701,000.

Cortez, a single family home in Marsala, offers four bedrooms, four baths and a den within its 3,822 square feet of air-conditioned living space.  It has formal living and dining rooms and an open kitchen-great room floor plan, enhanced by three sets of sliding glass doors to one of its two lanais.  Located in its own wing, the owner’s retreat enjoys private access to one of the lanais.  This home offers 3,822 a/c sq. ft. and a 3-Car Garage and is priced from just under $1.2 million.

Tiburon offers breathtaking views of lakes, golf course and natural surroundings.  Just inside the main entrance you will find extraordinary one-of-a-kind custom built estate homes overlooking two state of the art Greg Norman designed golf courses, a 27,000 square foot Mediterranean style clubhouse and the world renowned Ritz Carlton Golf Resort.  Enjoy the Ritz lifestyle in the exclusive Escada Estates at Tiburon/Ritz-Carlton Golf Resort.

This featured listing is currently for sale in Escada http://www.visualtour.com/applets/mobiviewer/viewer.aspx?T=3228935

For more information on Tiburon and a complete list of homes for sales, please call me, Frank Petras, Certified Luxury Home Marketing Specialist, at (239) 595-2221 or online at www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

What Can Buyers and Sellers Expect this Season?

If purchasing a home in Naples this season is on your “to do” list then you can expect strong competition.  Properties have been moving fast and listings are in short supply.

sunset beach nght lightsOptimism is contagious and right now all signs are pointing in the right direction.  Right now the market is balanced with both buyers and sellers feeling the optimism.  As a Certified Home Luxury Marketing Specialist I cannot stress enough that if you’re thinking about purchasing a home in the Naples area you may not want to wait any longer.

Home values have increased steadily all through the year and they are still appreciating.  A recent survey of a nationwide panel of 118 economists, real estate experts and investment and market strategists reveals they project home values to end 2013 up an average of 4.6% compared to the first quarter.  It is my professional opinion that prices will be increasing in the Naples market for the next few years and now is the right time to buy.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

If you are thinking about buying or selling property now, please call me, Frank Petras, at (239) 595-2221 or visit www.FrankPetras.com.

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

THE IMPORTANCE OF THE HOME APPRAISAL

Banks are reportedly losing favor of mortgage pre-approvals, which are often viewed as an important first step in the home buying process.

appraisalWhy are preapprovals losing favor, particularly as competition has been heating up in many housing markets?

Some banks say that they’re holding off on the preapproval until they see the home appraisal.  Until then, they prefer a prequalification, which tells borrowers the average size of loan they can qualify for based on stated income and based on an average of mortgage rates.  It’s not as formal as a commitment for a loan; preapprovals are usually binding for two to three months.

Mortgage preapprovals are a written commitment from lenders outlining the loan amount and interest rate that homebuyers qualify for.  They give buyers an indication of how much they can afford on their home purchase, as well as show sellers their commitment to purchase.

But last year, only 29,912 preapprovals resulted in mortgages from the top 25 mortgage lenders – down from 101,626 in 2007, according to the Federal Financial Institutions Examinations Council.  Preapprovals accounted for 4 percent of the purchase mortgages that lenders originated last year, and preapprovals did not precede any of the mortgages issued to homebuyers by 14 of the 25 largest lenders last year, according to the council.

“The popularity of preapprovals is quite low,” says Mike Lyon, vice president of mortgage operations at Quicken Loans.  Quicken loans’ preapprovals are down 43 percent from 2007.

Some banks, such as Bank of America and Chase, say they’re doing more pre-qualifications than pre-approvals. Chase, for example, says it gives buyers a “conditional approval” that usually lasts 90 days, but it does not provide a written commitment. Chase says it often waits to give a written commitment until after verifying borrowers’ income, employment and the home’s appraisal.  Bank of America also says it waits to approve a buyer until a home is appraised and the borrowers’ finances are fully reviewed.

When you’re looking for an extraordinary home, you deserve extraordinary service.  For the best advice on getting a fair and reliable home appraisal, please call me, Frank Petras, Certified Luxury Home Marketing Specialist, at (239) 595-2221 or online at www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Source: “Banks Abandon Mortgage Preapprovals,” Market Watch (OCT 2013)

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

Tour The Casa El Nido – Talis Park’s Newest Estate Home in Naples, FL

Introducing the Casa El Nido; a two-story, five bedroom home with 5,900 square foot under air in the beautiful new community of Talis Park.

Talis Park, Casa El NidoThis Spanish style casa, designed by PDS Architecture is being built by Scholten Construction Inc. in the Talis Park Prato Neighborhood.  The interior of the home is designed to convey a grand, traditional sensibility with beautifully executed architectural ceiling details complimented by the use of selected modern elements, including a stainless steel and glass stairway treatment that will play against dark-toned wood treads.

A light-filled parlour with a fireplace and French doors opening to the outside will greet visitors.  A formal dining room will include a large wine room.  The gourmet island kitchen is designed to provide an abundance of work space for the most discriminating chef and includes a large pantry.  The family room offers another gathering place that can be opened to the outside.  Lighter toned hardwood flooring will be used downstairs.

Casa El Nido will feature rustic functional shutters with a dark stain, arched mahogany entry doors, dark cypress soffits and fascia, exposed trusses and large corbels that reflect the homes Spanish architectural style.  The exterior walls will be finished with a sprayed granular stucco.  Andersen window and doors will be used throughout the home.  The Casa El Nido’s massive outdoor living area will be positioned for the view; the covered lanai will feature a large sitting area with a fireplace and television, a dining area, an island bar and an outdoor kitchen with a grill, refrigerator and sink.  A custom designed pool will be finished to convey the look of Caribbean-blue water.  The owner of this fabulous home will enjoy sunsets from a raised fire pit area overlooking the fairways of Talis Park’s Greg Norman-Pete Dye designed golf course and a lake.

An office off the master suite will provide a private retreat removed from the home’s living areas.  The master suite, with private office retreat, includes a master bath with a double vanity, a free-standing white tub and 24-inch white and gray Calcutta tile.  The home’s upstairs can be accessed either by the stairway or elevator.  A large play room will offer a place to watch television and to entertain younger family members.  Two en suite guest bedrooms with walk-in closets include double French doors that open to a covered terrace that flows into a large sun deck.  The terrace and sun deck can also be accessed through double French doors at the south end of the upstairs’ central hallway.

The Casa El Nido will offer a beautiful compliment to the community’s diverse offering of estate homes and villa neighborhoods.  Homebuyers in Prato may work with Talis Park’s team of architects or they may select their own.  Prato’s one-of-a-kind residences range from 4,500 to well over 7,000 square feet on 125-by-175-foot sites and start at $2.5 million.

For more information on Talis Park and for a tour of The Casa El Nido, please call me, Frank Petras, at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results.  I have an unrivaled reputation as a luxury property specialist.  I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

Source: 2013 Naples Daily News

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing

Introducing Esplanade Golf and Country Club of Naples

Be the first to experience the resort lifestyle being created in Taylor Morrison’s newest golf course community in North Naples on Immokalee Road.  This distinctive gated community offers residents the opportunity to enhance their mind and body with luxurious style and fabulous amenities.

Taylor Morrison HomeTaylor Morrison’s new community is located approximately 3 miles east of I-75 on Immokalee Road.  It is situated on approximately 1,798 acres, 1,000 of which are natural preserves, wetlands, as well as over 170 acres of lakes.  When complete, the community will consist of approximately 1121 planned residential homes.  An 18-Hole Championship Golf Course will be carefully integrated into its natural setting; designed to enhance the overall ambiance of the community.

In addition to the golf course, other amenities are planned for sports enthusiasts – including lighted HarTru clay tennis courts – one with stadium seating.  A fully equipped; manned Pro Shop will serve the golf and tennis community.  For water enthusiasts, the community will include a swim center with a lap pool; luxurious resort style pool area complete with open-air bar.   Other planned amenities include a wellness center, learning center, gathering center, events lawn, pathways, nature trails and much more.

Taylor Morrison’s new community is ideally situated close to world class shopping on 5th Avenue, 3rd Street, the Waterside Shops, Mercato, major supermarkets, department and specialty stores.  Top rated hospitals and health care facilities are within minutes.  And, because beautiful beaches are nearby, residents can enjoy the splendor of Gulf sunsets as often as they wish!

Development begins in 2013 with completion of the golf course in 2014.  The eco-friendly fairway is expected to be crafted to complement the existing natural features of the land.  Designed by C.W. Golf Architecture with aesthetics and playability in mind.  The planned 6,900-yard course features lakes and open green spaces.

Toylor Morrison People

To learn more about Esplanade Golf and Country Club of Naples and to receive the latest information about this resort community, please call me, Frank Petras, at (239) 595-2221 or visit www.FrankPetras.com.

As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results.  I have an unrivaled reputation as a luxury property specialist.  I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.

 

Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida – Gulfshore Life Magazine

John R. Woods’ Emerald and Platinum Circles of Excellence

Realty Alliance Leading Residential Real Estate Sales Professional in North America

Appointed to Who’s Who in Luxury Real Estate

Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing