PATRIC J.

RUFF, REALTOR® NOVEMBER 2010

Newsletter
WEATHERING THE STORM ON A SEA OF UNCERTAINTY:
The housing market is in the early stages of recovery, according to Lawrence Yun, chief
economist for the National Association of Realtors® (America’s largest trade association
with 1.1 million members). “A housing recovery is taking place but will be choppy at times
depending on the duration and impact of a foreclosure moratorium. But the overall direc-

Patrick J. Ruff tion should be a gradual rising trend in home sales with buyers responding to historically
B R O K E R - A S S O C I AT E low mortgage interest rates and very favorable affordability conditions,” he said. Page 4

239-633-6527
239.597.1666 www.NABOR.com 1455 Pine Ridge Road

direct: NABOR Real life. Real answers. 239.597.7725 Fax www.NaplesArea.com Naples, FL 34109

NATIONWIDE: the under $300,000 market captured 75 percent

Naples Area Board of REALTORS ®

fax: 239-263-4218 Total housing inventory at the end of September of the closed sales during September 2010. The
fell 1.9 percent to 4.04 million existing homes avail- Bonita Springs–Estero Association of Realtors®
email: RuffRealty@gmail.com Pending Closed
able for sale, which represents a 10.7-month supply reported 121 overall closed sales and only 30 of 764 9,496

at the current sales pace, down from a 12.0-month those were $300,000 or over. There continues to
800
700
688
583
10,000 8,159

6,439
8,025

www.RuffRealtyNaples.com supply in August. Raw unsold inventory is 11.7 per- be a steady number of luxury properties ($1 mil-
475 8,000
600
500 Pending 6,000 Pending

cent below the record of 4.58 million in July 2008. lion+) sold with the top five sales reported in The
400
300
Closed 4,000 Closed
200

“Vacant homes and homes 100

0
Brooks, Bonita Bay, Grandezza 2,000

0
NAPLES AREA MARKET: and Pelican Landing.
where mortgages have not Sept. 2009 Sept. 2010 12-month ending 9/2009 12-month ending 9/2010

been paid for an extended Median Price

The number of single-fam-
Inventory
number of months need to ily homes and condos coming
$530 $540
Page 4
be cleared from the market
$600
$500
on the market in September 9,300
9,209

9,200

as quickly as possible, with

$400
$300
2010 increased
239.597.1666
$180
bywww.NABOR.com
$182
14 percent Median Price
1455 Pine Ridge Road
9,100
9,000 8,794

df
a new set of buyers helping NABOR Real life. Real answers. $200
$100
from
of REALTORS ®
the previous
239.597.7725 Fax
month,
www.NaplesArea.com Naples, FL 34109 Median Price > $300 8,900
8,800
Naples Area Board 8,700

the recovery along a healthy $-

while closed
12-month ending
sales of
12-month ending
condos 8,600
8,500

path,” Yun said. “Inventory re- decreased by eight percent and

9/2009 9/2010 Sept. 2009 Sept. 2010

mains elevated and continues Pending

Overall
single family closed Closed sales de-
3411 Tamiami Trail N
Naples, FL 34103 to favor buyers over sellers. ” creased by 16 percent. 764 9,496
688 Calculations are based on property listings that exist within SunshineMLS. Only properties . 8,159
in Collier County, excluding
10,000 Marco Island, are included. 8,025
800
700 583
8,000 6,439
600 475

NAPLES: 500
400
Pending
Closed
6,000

4,000
INTEREST RATES Pending
Closed
For properties priced un-
300
200 2,000 REMAIN LOW
100
der $300,000, the median 0
In September, the interest
Sept. 2009 Sept. 2010
0
12-month ending 9/2009 12-month ending 9/2010

closed sales price decreased by rate for a 30-year fixed-rate

3 percent in the third quarter Median Price mortgage averaged
Inventory4.35 per-
2010 compared to the previous year. Closed sales cent, significantly lower than the 5.06 percent aver-
$600 $530 $540
9,209

from $300,000 to $2 Million increased by an aver- age during the same month a year earlier, according
$500
$400
9,300
9,200
9,100
age of $48,000 each. to Freddie Mac.
$300
$200
$180 $182
Median Price
Median Price > $300
9,000
8,900
8,794

For the twelve months ending September 2010,

8,800
$100
8,700
$- 8,600

overall closed sales of single family homes increased DOWNING-FRYE REALTY, INC. ON TRACK
12-month ending
9/2009
12-month ending
9/2010
8,500
Sept. 2009 Sept. 2010

by 19 percent and condos by 45 percent compared “Closings wereOverall

down this September compared
to the previous twelve months. to the same time last year,” said Mike Hughes, Vice-
The inventory of available homes and condos in President of Downing-Frye Realty, Inc. “Keep in . Marco Island, are included.
Calculations are based on property listings that exist within SunshineMLS. Only properties in Collier County, excluding

September 2010 was 8,794 units compared to 9,209 mind that last year in the second half of the year, we
units in September 2009, a decrease of five percent. saw our closings go up quite a bit. Part of this was
due to the first time home buyer credit. Anyway, we
BONITA SPRINGS: are still on pace to exceed $1 billion in closed sales
Exceptional service Continuing the trend from the previous month, volume for 2010.”
for over 45 years. Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®
If your property is currently listed with another broker, this is not a solicitation of that listing. ©2010 Design by Downing-Frye-Marketing, powered by Naples Media Group, Inc.