Pending Home Sales Holding In Stable Range

Pending home sales eased against a deteriorating economic backdrop but remain in a stable range, according to the National Association of Realtors®.

The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.

Lawrence Yun, NAR chief economist, said a review of the past year is instructive. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”

Conditions remain uneven around the country, but some areas that are showing healthy gains in pending home sales from a year ago include many Florida and California markets, Providence, R.I.; Lansing, Mich.; Oklahoma City; and Las Vegas. ²

Yun expects growth in the U.S. gross domestic product (GDP) to contract through the first half of 2009, then stabilize and expand in latter part of the year – lifted by a home sales recovery. “Given the critical role of housing in an economic recovery, we’re confident sufficient stimulus will be offered to bring more buyers to the market,” he said.
Looking at middle-ground assumptions, existing-home sales are forecast to total 4.96 million this year, and then increase to 5.19 million in 2009 and 5.55 million in 2010.

New-home sales for 2008 should total 486,000 this year, decline to 393,000 in 2009 and then grow to 446,000 in 2010. Housing starts, including multifamily units, are projected at 934,000 units in 2008 and 731,000 next year before rising to 772,000 in 2010.
Source: realtor.org


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Naples FL Golf Course Homes Closed Sales

Naples FL Golf Course Communities November 2008, Closed Sale information: Including Areas: Lely, Lely Resort, Naples Heritage, Naples Lakes, Country Side, Glen Eagle

Active 602
Pending 36
Closed 8

Source: SunshineMLS, Inc.

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Capistrano model now open in Mediterra

The Capistrano, a new single-family home in Mediterra, is designed around a courtyard, giving most of its 3,965 square feet of living space views of the tumbled rock waterfall, circular stackedstoned spa and custom-designed pool. The home, built by McGarvey Custom Homes, also offers a 470-square-foot private guest house, equipped with a morning kitchen.
The Capistrano is located in the Marcello neighborhood in Mediterra, in North Naples.
The three-bedroom home has four full baths and a powder room and offers 6,764 total square feet, including a twocar garage, entry tower and 1,472 square feet of covered outdoor living space. It also has an octagonal dining room and study, a columned galleria and a living room with a fireplace.
Custom features include multilevel tray and coffered ceilings with molding, faux-finishing and travertine floors. Built-in cabinetry is found in the study and living room.
The kitchen has stone countertops, a center island and wood-clad ceiling. It also offers a breakfast bar and walk-in pantry. The adjoining family room has media and display built-ins and pocketing sliding doors leading to the entry loggia, which overlooks the courtyard and offers a summer kitchen.
Two sets of double French doors open the master bedroom to the courtyard. The bedroom has a dressing area, a morning kitchen and his-and-her walkin closets. The bath offers dual vanities, his-and-her water closets, a separate shower and freestanding raised tub, set within a rotunda-like space with windows and a curved wall.
The Capistrano is priced at $3,195,000, furnished.
Mediterra is now offering luxury coach homes from the $700,000s, villas from the $900,000s, single-family homesites from $300,000 and custom homes from $1.6 million to more than $7 million. Mediterra is a private, gated community.
Source: Florida Weekly

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Naples FL Golf Course Homes - October Closed Sale Info

Naples FL Golf Course Communities October 2008, Closed Sale information: Including Areas: Lely, Lely Resort, Naples Heritage, Naples Lakes, Country Side, Glen Eagle

Active 587
Pending 34
Closed 12

Source: SunshineMLS, Inc.

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First-of-its-kind underpass art gallery could come to Naples

The city’s newest art gallery won’t be located across the Gordon River Bridge. Instead of driving over the bridge, visitors to downtown Naples could be asked to walk beneath it.

Advocates for the Gordon River Underpass Art Gallery announced Friday they received an initial go-ahead from the state to move forward with building a gallery beneath the Gordon River Bridge.
The project would transform the 160-foot-wide underpass into an art gallery, featuring art work created by area children and professional artists. The artwork will be turned into tiles, which will then be put on display.

The artwork will tell the history of the Gordon River and the Naples Bay, and advocates hope that it will attract city and county residents and tourists alike.
Source: naplesnews.com

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Naples FL Golf Course Homes - September Closed Sale Info

Naples FL Golf Course Communities September 2008, Closed Sale information: Including Areas: Lely, Lely Resort, Naples Heritage, Naples Lakes, Country Side, Glen Eagle

Active 57
Pending 23
Closed 12

Source: SunshineMLS, Inc.

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CNN Money Ranks Collier County the 4th Best Place for a Long Life!

#4 Collier County, FLTowns include: Golden Gate, Naples -Life expectancy at birth: 80.97 years.
Collier County, which includes the city of Naples, is the picture of Florida leisure.
By land area, Collier is the largest county in the state, and 80 percent of it is devoted to parks and nature preserves. Any kind of water-related recreation or exercise you can think of is readily available. Naples has long been a destination for artists: Take a class at the Von Liebig Center or just work your way through the county's 100-plus art galleries.You can also take in a show-or star in one-with the Naples Players, which is recognized as one of the nation's top community theaters.
source: cnnmoney.com

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