Naples, FL Real Estate Podcast with The Saad Team

Where Is the Naples Market Heading?

sold@thesaadteam.com (The Saad Team) — Mon, 1 Jun 2015 07:24:00 -0700

Naples is a beautiful city with gorgeous homes for sale. If you want to sell, we can provide a Home Price Evaluation, or if you are thinking about buying a home, click here to view all our listings. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Sorry for the long absence, the last few months have been incredibly busy here in Naples. Our market has finally returned to normal, so we now have some time to give you an update on current conditions.

The great news is our spring season this year ended right on target. We had the same number of sales in the first months of this year as we did during the same time period in 2005. It's not quite a seller's market yet, but we are seeing multiple offers in a few neighborhoods across the area. On average, homes are sitting on the market for 90-97 days. If you list with the Saad Team, you can expect your home to sell within 92 days.

Now let's take a look at some of the numbers in our market:
Current Market Conditions, as of May 2015, compared to May of 2014:

New listings have dropped by 55%, and there are only 751 current listings
Home sales have increased by 9%, and there have been 485 home sales just this May
The median home price shot up by 17% to $420,000
The average days on market has dropped to 84 days, a 7% decrease from last year
Year-to-date new listings have dropped by 59%, as we only have 4,628 listings right now compared to last year's 11,195
The amount of homes sold year-to-date has stayed steady, with a 1% increase from last year (2,215 homes sold in 2015)

The decline in inventory is pushing the median price up to the highest number we've seen since 2008!

If you would like a more detailed market analysis, or if you have real estate questions of any kind, give the Saad Team a call. We are always here to help you make sense of the Naples market!

Do You Need a Home Watch Service?

sold@thesaadteam.com (The Saad Team) — Tue, 10 Feb 2015 12:16:00 -0800

Today we have the privilege to introducing you to Greg Lordi who founded his own Home Watch business here in Naples.

In a resort market such as the one here in Naples, it's important to have a home watch professional come in and keep track of a property. In Greg's business it's not a matter of if anything will happen, it's a matter of when something will happen. A lot of times people will be gone for months at a time and they may rely on neighbors for favors, but what if they fail to check up and there's a water leak? Most of these disasters are not cases of if it will happen, but when it will happen.

There are so many different things that can go wrong, but with a personal home watch company the chances of these devastating accidents is dramatically reduced. Greg's trained professionals go through background checks, and they are also trained, bonded, insured, and educated. On top of all this, personal home watchers also have the resources at hand to deal with these disasters when they do occur.

Instead of relying on a friend to watch your home, we recommend hiring trained professionals who take the job very seriously, and don't just view it as a chore or a hobby. We had a friend recently who was having someone watch a home, and even though the person did go inside to check on things, they missed a leak, which cost the home owner quite a bit of money.

If you're looking for a professional home watcher you will want to make sure that the candidate has been trained and has the resources behind them to handle a situation if something arises. We really cannot stress the fact enough that you need a professional to watch your home. You need to trust this person when you hand over your keys because your home is an asset that must be protected.

To get into contact with Greg you can call (239) 989-1464 or go to www.personalhw.com.

As always, if you have any questions about the Naples real estate market, please don't hesitate to contact us at the Saad Team. We're always willing to help you!

Season's Greetings from the Saad Team!

sold@thesaadteam.com (The Saad Team) — Mon, 22 Dec 2014 08:02:00 -0800

From the entire Saad Team we want to send you warm and sunshine filled wishes from Naples Florida! We hope you enjoy spending time with your family and friends as the year comes to an end!

Thank you for choosing us to represent your family and friends in 2014 with all of your real estate needs near and far. It is our pleasure to have the opportunity to serve and help you.

If you or anyone you know is planning to sell, buy or invest in the new year, The Saad Team will be here to help you in Naples, or refer you to a great agent across the globe.

Happy Holidays and Happy New Year!

As always, The Saad Team is here to help you with all of your real estate needs. If you're looking to buy, sell or invest in Naples real estate, give us a call at (239) 595-8900! See you in 2015!

What Are Market Conditions in Naples Like?

sold@thesaadteam.com (The Saad Team) — Fri, 19 Dec 2014 13:44:00 -0800

We're very excited to ring in the New Year and recap what we saw in Naples real estate this last year!

Naples has had an incredible real estate run over the last year and we're looking forward to an even better one in 2015! Year to date there has been 9,884 closed sales.

We're hoping to see an increase in inventory, as there are many buyers in the market looking for the perfect home. Current inventory is sitting at 4,214 active listings (not including vacant land). This number has crept up as the season approaches. Indeed, conditions are ripe for getting top dollar for your home in a short amount of time.

Here is a breakdown of the sales statistics from The NABOR® October 2014 Report:

• Overall median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall pending sales increased 9 percent from 839 in October 2013 compared to 911 in October 2014.

•Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014.

•Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014.

•Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014.

•Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent.

•Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014.

•Average days on market for October is at 73.

As always, The Saad Team is here to help you with all of your real estate needs. If you're thinking about selling right now, give us a call at (239) 595-8900! We would love to hear from you!

You've Accepted An Offer! Now What?

sold@thesaadteam.com (The Saad Team) — Wed, 13 Aug 2014 06:00:00 -0700

Congratulations! You’ve accepted an offer on your Naples property. The first question we often get is “Now what?”

The time between accepting an offer and final closing is a critical period for both buyers and sellers. This is the time when financing and paperwork is done to assure that upon closing, everybody is on the same page at the same time.

Here is what is happening in the weeks leading up to closing.

A Good Faith Deposit is Placed in Escrow
Many times a deposit will be made with the offer to demonstrate the buyer is serious. If one was not included at the time of the offer, we will get one from the buyer within three business days or as negotiated.

The Inspection Period
Most of our contracts have a 15 day inspection period. This only gives buyers about two weeks to:

•Hire an inspector
•Have the home inspection done
•Get a comprehensive report created
•Acquire any secondary "expert" inspections
•Decide what and if any issues from the inspection need to be addressed

From the end of the 15 days, the buyer has 5 days to give a response. You then, as the seller, generally have 10 days to decide how to respond. You may decide to fix some items and/or opt to offer some sort of credit as closing. The contract is specific on what items are covered under the inspection parameters and the remedial action.

Title Work and Association Fees
During this period work is being done to insure that there are no problems with the home’s title and that any association fees are current. At this point the buyer is also making application to any association involved.

The Closing
Once all the paperwork and financial issues are sorted, we will be clear to close. You do not need to be present at the closing. Papers can be signed ahead of time and we will represent you.

A typical closing will take about 30-45 days. A cash sale may be done quicker. If there is a financing contingency in the offer, you can expect 45-60 days to close comfortably.

The closing process is more complicated than some imagine. You can count on us to make sure your best interests are being looked after throughout the process. To ensure a smooth process of selling your property call The Saad Team at 239-595-8500.

Use a full service real estate team to sell your Naples home for top dollar

sold@thesaadteam.com (The Saad Team) — Tue, 22 Jul 2014 09:52:00 -0700

The Saad Team is your full-service, concierge, one-stop real estate resource offering many different services in order to give you the best possible real estate experience. We want to share with you some of the concierge services we offer, whether you are here locally or across the globe.

Part of the customer service we offer our clients is our dedication to ensuring your property is in its best possible condition before we put it on the market. While we work to put it in top-notch condition, we will tell any potential buyers the property will be coming on the market soon to help build anticipation and excitement. This means we can generate buzz about your property while taking the time to get it ready for the photographs and professional marketing we do before putting on it in the MLS and other online home search sites.

We have relationships with reputable home stagers, cleaning services, painters, and any other necessary home service providers in order to ensure your property shows perfectly when it hits the market. Already moved out? No problem, we can prepare your home for sale and/or make any arrangements for the property to come on the market in the best shape. For example, if you need some landscaping and weeding done, we will gather the estimates, give the necessary people access, and get everything taken care of in your absence so we can get you as much money as possible from the sale of your property.

If you are selling your home in the Naples area, hire The Saad Team, a full-service team to relieve you of the stress of home selling and get you top dollar. If you have any questions about any of the services we offer or you know of anyone selling, buying or investing in real estate call us at (239) 595-8500 or email us at sold@thesaadteam.com

One-Stop Real Estate Resource

We can Help You Decide if Selling is Right or Not

sold@thesaadteam.com (The Saad Team) — Tue, 17 Jun 2014 11:37:00 -0700

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

A lot of our clients here in Collier County have been asking us, "Is now a good time to sell my home, or should I wait?" In order to flush out a better answer than 'yes' or 'no' for you, here are some important things that you will need to consider about our local market in Naples.

Our market is not just seasonal: January, February, March and April are not the only times that people sell their homes in Florida. We have many more full-time residents here than in the past, and a lot of businesses are beginning to settle down here in Naples.

Summer is a great time to sell: During the summertime all of the ancillary workers here in Naples are less busy as the seasonal residents leave, and they have time to think about moving and buying a new home.

A lot of people - especially those with children in school - prefer to move during the summer when they do not have to coordinate school schedules and other priorities.

There is also a large amount of fly-in buyers that come to Naples during the winter, and then come summer they have finally decided to come back down to purchase a home that they had been eyeing. This helps them prepare their property for when they come back to spend time here during the winter months.

Inventory is low right now, so you have a good opportunity to sell your home quickly, and possibly with multiple offers that will significantly increase your sale price.

New construction in Naples is also on the rise, and this could cause some competition for you when you're selling your home. This also means that we will see more movement as people with older properties may desire to purchase newer ones.

Do you want to know if now is a good time for you to sell? There are many factors to consider, call The Saad Team, your local professionals, to sit down and discuss all of your individual needs.

Is It Time To Sell My Home?

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

sold@thesaadteam.com (The Saad Team) — Mon, 9 Jun 2014 08:03:00 -0700

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

A lot of our clients here in Naples have noticed that when they check the MLS in their neighborhood they seem to find either a large amount of listings, or nothing it all. What is the reason for this feast and famine cycle in real estate? Well, let us explain.

When a new condominium complex is built, usually all of the sales occur at the same time. This can occur with subdivisions too. They are usually constructed in 2-3 years and consumers buy up the properties and lots all at the same time.

Once all of these properties are initially bought out, a turnover usually occurs after 3-7 years and people begin selling their properties. This obviously brings in a new batch of buyers and it creates a cycle where you have lots of buyers coming in around the same time every few years, and then you will see another wave of for-sale properties a few years down the road.

Another factor in this phenomenon can be the age of the building and the type of community that it harbors. Sometimes people move to a certain area for the lifestyle that it provides, but when their preferred lifestyle changes, then they will move elsewhere.

This is why it seems like everything suddenly pops up on the market, and then the next thing you know, nothing is for sale.

As always - if you're looking to buy, sell or invest in Naples real estate, then you know where to turn for satisfactory service. Call The Saad Team, your local professionals. We can sit down and discuss all of your individual needs.

Naples Is A Beautiful City

Real Estate Market Update for Collier County in Q1 2014

sold@thesaadteam.com (The Saad Team) — Tue, 27 May 2014 13:05:00 -0700

Real Estate Market Update for Collier County in Q1 2014

Our clients in Naples and Collier County have been consistently asking us what is going on in the real estate market here in South Florida. We will be comparing statistics from the first quarter of 2013 to what has happened in the first quarter of 2014 in order to provide you with a clearer picture of our market.

In the first quarter of 2013 there were 2,237 home sales compared to 2,352 sales in Q1 of 2014.

- This translates to a 5% increase in home sales year over year.

Naples and Collier County are currently situated in a normal market.
- Inventory for Q1 2014 has decreased to 4,405 homes compared to 5,136 homes in 2013.

The average days on market are at 95 for the first quarter of 2014, compared to 161 in 2013.

If you take a look at the graphs down below, you will see a few different statistics:

- Closed sales have increased slightly from the first quarter of 2013, but the number of pending sales has dropped just slightly.

- Year over year, both pending sales and closed sales have increased.

- Inventory has increased by roughly 14% from 2013.

- The median home price for homes valued at less than $300K has increased from $215K to $248K, which amounts to a 13% increase in value.

- The median price for homes that were worth more than $300K experienced a slight increase from $540K to $545K.

Another interesting thing we saw was that the median sales price in Q1 of 2013 was $230,000 dollars and the current median price in 2014 has jumped to $265,000 dollars.

- One reason for this change is that we saw decreases in sales under $300,000 but we saw a large rise in the sales of high-end properties in the $1 million - $2 million dollar range.

Overall, the real estate marker here in Naples is much better off than it was just a few years ago. We are in a normal market with a good level of inventory (perhaps a little bit on the low side, but it's evening out), sales are increasing at a stable rate and we're also seeing a lot of new construction start to take place.

Here are some of the things you can expect from the Collier County real estate market this summer:

1. You will be seeing a lot more new construction popping up.
2. Home sale prices will increase modestly.

- We will not see the rapid and unstable increase in home prices that we have experienced in years prior.

If you have any specific questions about your price point, your neighborhood, or your local market, call The Saad Team, your local professionals. We will sit down and discuss all of your individual needs.

To Determine Your Listing Period, Analyze Your Local Real Estate Market

sold@thesaadteam.com (The Saad Team) — Wed, 30 Apr 2014 07:47:00 -0700

How Long Should You List Your Naples Home?

A lot of our clients here in Naples have been wondering how long they should list their homes for. Some people believe that if they contract for a shorter listing period that an agent will work harder and sell their home faster. This is not necessarily true, and your agent has very little control over what happens in the real estate market. However, you need to give your real estate agent an adequate amount of time to get your property listed, marketed and sold.

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood. Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area. Real estate markets can be extremely local and can vary wildly from community to community.

Determine an Agreeable Time Frame to Sell Your Property

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood. Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area. Real estate markets can be extremely local and can vary wildly from community to community.

If you get impatient and remove your listing, you would then have to start the entire process over again, and this will only cost you more time and money. This is why it is important to hire professionals, like The Saad Team who know and study the market, pricing, and trends every day. Know your local real estate market before you sign a listing contract. You shouldn't expect your home to sell instantaneously, but you should have a reasonable time frame in mind so that your property does not go stale.

If you have any questions, or if you or anyone you know is looking to sell, buy, or invest in real estate, please contact the Saad Team at (239) 595-8500 or email us at sold@thesaadteam.com.

Real Estate Websites Can Lead You Astray

sold@thesaadteam.com (The Saad Team) — Thu, 24 Apr 2014 10:28:00 -0700

Are Online Home Searches Trustworthy?

Today we are going to talk about real estate websites because so many people are going online to search for homes these days. Whether it's shopping for shoes, searching for information, or browsing for homes, people are now turning to the World Wide Web as their #1 resource.

People often use websites like Realtor.com, Trulia, or Zillow to search for properties online. However, there are major pitfalls to using these websites when you're searching for a home in Naples, and this is what we want to address for you today.

Real Estate Websites are not Always Accurate or Updated
There are many times when we receive a call from one of our clients who is very excited to see a particular property in Naples. We will then speak with this client and get the information about the property, including the MLS number. The MLS is the home search engine that real estate professionals use to list homes and mark them as closed. This updated information helps us track sales data.

Websites like Trulia or Zillow will not have accurate and updated information on properties like the MLS will. We often find that a home that one of our clients saw on these websites is already sold or already under contract. Websites like these can waste your precious time, and this can end up costing you money as well as a good home.

Another downfall to these websites is that they use what is called an 'Automated Estimation Value System'. In fact, the NABOR listing contract specifically allows sellers to opt out of them, and most of our sellers choose to do this. This is because the automated value system that these websites utilize is often not accurate or up-to-date. This system does not always pull directly from the public records or the recent sales in your local area, so it gives people an inaccurate portrait of the market.

One more reason we do not recommend these websites to our customers is because they will actually take your information and sell it to real estate agents. Real estate agents can then 'buy' opportunities to get leads on listings by purchasing your information. This information is often sold to multiple agents who do not have your best interests in mind.

So, when you're looking to buy, sell or invest in a home, be sure to contact The Saad Team, your professional team of real estate agents. We can provide you with accurate information - and most importantly - a customized service to find the perfect home that will suit all of your needs.

We look forward to helping you find your dream home in Naples! As always, if you have any questions about the real estate landscape here in Collier County, please feel free to contact us and we would love to provide you with all of our updated information.

If you would like to buy, sell, or invest, give us a call at (239) 595-8500 or email us at sold@thesaadteam.com.

Use an Effective Pricing Strategy to Sell Your Naples Home Efficiently

sold@thesaadteam.com (The Saad Team) — Fri, 28 Mar 2014 12:31:00 -0700

Today we're here to speak with you about effective home pricing because it's an issue that we've been hearing about on some recent listing appointments

We understand that the real estate market in Naples has shifted, and it is what we would now call a normal market. What this means is that we are seeing homes coming on the market, getting regular offers, and then selling in an average time frame. Another property may come onto our market and sell for a little more than others may have, but we're not seeing huge price gaps like we had been experiencing in the past.

Our current inventory is steady and sales prices are proportionate to active listing prices, so this points to a neutral market here in Naples. Because of this, some home sellers assume that they can price their homes very high to begin with, and then lower their asking prices if they're not receiving any good offers.

Starting with a lofty listing price and then leveling out is a foolhardy pricing strategy because it will likely net you less money than pricing your home moderately and attractively, and it will also shrink your pool of buyers. When a buyer sees that your home is priced unreasonably, he/she will probably not even entertain the idea of looking at it again. You essentially price yourself off of the market if you price too steeply.

When you price your home effectively you make buyers compete over your property, and thereby raise your sales price through competition. A good price brings a steady pool of buyers that will be willing to pay a little extra for your property because they see great value in it. Overpricing the property typically results in fewer showings, a shrinking pool of buyers, and longer days on market, which produces lower offers. Create value and competition for your home through pricing!

What you really need to ask yourself is why an agent would tell you that you can sell your home for more money when comparable sales in the same area say otherwise? When you sell your property you need to be aware of what other properties are selling for in your area. Ultimately, it's the market that will determine the best listing price for your home. A realtor can tell you that they will be able to list your home at a higher price than other agents, but this does not mean that your home will be selling for that price, if at all.

When our team meets with you, we will show you all the active listings in the area, and any pending or recently closed sales. This will aid us in understanding the nuances of the market landscape and how it is going to affect the sale of your home. We will not price your home blindly or make any uniformed decisions. We realize that your real estate transaction is of the utmost importance to you, and we will only make decisions with the highest degree of certainty that they will benefit you.

If you have any questions about how to attractively price your home so it will sell in our real estate market in Naples, then please give us a call and we would be glad to discuss our proven pricing strategy with you.

You can call us at (239) 595-8500 or email us at sold@thesaadteam.com

Home Deposits may be Refunded Depending on Your Contract

sold@thesaadteam.com (The Saad Team) — Mon, 17 Feb 2014 13:09:00 -0800

Home Deposits may be Refunded Depending on Your Contract

I'm back with you today to discuss home deposits and whether or not you can get your money back after you have made an offer. Our guest today is real estate attorney, Sam Saad, President of Paradise Coast Title and Escrow.

This is a question we hear time and time again, and will refer this one to Sam who can lend a hand in explaining. As a practicing attorney, Sam wants you to know that these instructions are not considered legal advice, and that if you do seek legal counsel, then you should consult an attorney who can explain your rights to you while under contract.

It Depends on the Type of Contract you Signed

Going forward, Sam says that a deposit is refundable in certain cases depending on what type of contract you signed.

- If you signed the NABOR Contract, which is standard in Naples and Collier County, then your deposit is only refundable if you comply with the necessary inspection and finance provisions. These provisions are laid out very thoroughly and meticulously in the contract.

For example, if you have gone through the inspection criteria and the seller refuses to comply with your requests, then you would get your deposit back.

If the seller accepts a credit towards the property or goes through with the requisite repairs, then you would not receive your deposit back.

- If you signed the FAR/BAR Contract, then you may also get your deposit back. However, you still need to comply with the inspection and finance provisions within the contract. You can find more information about this contract here: https://www.floridarealtors.org/LegalCenter/HotTopics/Florida-Realtor-Florida-Bar-contracts.cfm

- The FAR/BAR As-Is Contract is very popular in the Naples area. This type of contract is most often associated with distressed home sales, and within the document there is a provision that allows the buyer a 15 day free-look:

Essentially, this allows you to sign the contract, put down your deposit, and after that you may conduct the necessary inspections. Within the 15 days you have the right to back out of the contract (for any reason whatsoever) and you will receive your deposit back - no questions asked.

The NABOR Contract that was mentioned earlier also has an As-Is addendum, which makes it a very safe contract for buyers.

You Need to Know your Options

Placing a deposit on a home may seem like an irrevocable act, this is not always the case, be sure to understand the contract that you're signing and are aware of your options within that documentation. As always, consult an attorney for representation if you have any sort of doubt as to what rights are afforded to you.

Do You Know Why Florida is a Great Place to Purchase Real Estate?

sold@thesaadteam.com (The Saad Team) — Mon, 13 Jan 2014 11:47:00 -0800

Do You Know Why Florida is a Great Place to Purchase Real Estate?

Today we have Sam Saad III joining us. Sam happens to be a real estate attorney here in the city of Naples and a member of the Naples city council. The reason we brought him along today is because as a real estate attorney, he deals with a lot of closings. As the president of Paradise Coast Title and Escrow, this also happens to be his specialty!

Today we wanted to talk to you about the importance of applying for Homestead. In Florida, homestead is something you can apply for when you own a property. However, as an attorney, Mr. Saad III has to remind you that this is not legal advice and if you have specific legal questions that need to be addressed by an attorney, you must do so accordingly.

Homestead in Florida is very complicated. Under the Florida constitution, Homestead is provided four protections with them being:

Real Estate Tax Exemptions

Out of the four protections, this is the most talked about.

In essence, as Sam Saad III explains, if you are approved for Homestead, you receive a $50,000 tax credit against the valuation on your property taxes for your ad valorem and a $25,000 credit on your school taxes.

What this means is that when the assessor comes to your home, they assess your property at a certain valuation that may not be the same as the sale price. The deduction is coming off what the value the assessor has set. Sam Saad III also added that once that assessor puts that valuation in place, the Save Our Homes Exemption provides a cap so the assessor cannot raise your taxable value (bear in mind this is different from your assessed value) by more than 3% per year. As you are most likely familiar with Florida real estate, we are prone to boom and bust periods. Sam states that this was put in place so you don’t feel giant increases in your property taxes. These are two great protections for people purchasing homes in Florida!

Debtor Protections

If a property is your Homestead, whether you are married or not, liens cannot attach to that property if a judgment is rendered against you and the person cannot take away your Homestead. Mr. Saad III noted that there are two important exceptions to that rule.

Three Exceptions

1. The first exception being that mortgage lenders can foreclose on your property if you don’t say your mortgage.

2. The second exception is that if you live in a mandatory homeowners association, the homeowners association can place a lien on your property.

3. Also bear in mind that credit card judgments and personal lawsuits, for example, do not attach to your Homestead. However if you do not pay your taxes, Federal laws generally override the state constitution. Mr. Saad III reminds us again that if there are Federal tax liens on your property, please consult your attorney to determine what your rights are. There are many exemptions and this must be dealt with properly.
For people who are looking to file for Homestead in Florida, Mr. Saad III tells us that you have to close on your property by December 31st and file for exemption by March 15th. If you did purchase your property last year, it’s important to file for your property tax reductions right away! The moment you move in your property and declare it your homestead, you receive the Debtor Protection. The other two protections do not relate to sales.

The one issue that does come up in closing is the fourth protection, the Restraint on Alienation. A husband and wife that own the property as joint tenants cannot sell the property out from the other. Essentially, it takes one to buy and two to sell.

This may seem a bit overwhelming, but Florida is a great state for Homestead! Sam states that we highly value it, the courts respect it, there are great tax exemptions and that it is a fantastic way to own your property. To learn more about Homestead, visit http://www.collierappraiser.com. If you would like to contact Sam Saad III, his information is Law Offices of Sam J. Saad III PA. 851 5th Avenue North Suite 306 Naples, Florida 34102. His phone number is 239-963-1635 if you would like to reach his office. If you have information to fax, his line is 239-791-1208.

Thanks and have a great day!

Overall Median Home Price Hits 57-Month High

sold@thesaadteam.com (The Saad Team) — Mon, 23 Dec 2013 13:50:00 -0800

Naples, Fla. (December 20, 2013) – Not since March 2009 has the overall median home price been above $225,000. According to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), the overall median home price for November 2013 was $237,000. The Naples area housing market’s November 2013 Southwest Florida MLS statistics show a 19% increase in overall median closed price from $200,000 for the 12-months ending November 2012 to $237,000 for the 12-months ending November 2013. The report also shows overall pending sales for homes between $300,000 and $2 million increased by double digits, and a substantial increase in single-family home sales activity in the North Naples area.

While overall closed sales rose a respectable 9% from 9,010 in the 12-months ending November 2012 to 9,801 in the 12-months ending November 2013, a 17% decrease in overall inventory will continue to influence closed sales growth. “Buyers want to purchase, they just can’t find the inventory,” said Kathy Zorn, Broker, Florida Home Realty.

“When we look at the numbers in this report we need to keep in mind the amount of uncertainty our market was facing over the last few months,” said Dr. H. Shelton Weeks, Department Chair of Economics & Finance, Lucas Professor of Real Estate and director of the Lucas Institute for Real Estate Development & Finance at Florida Gulf Coast University. “Despite the outcome and speculation of such factors as the government shutdown, flood insurance, healthcare reform, and quantitative easing, the market in our area did quite well. This indicates that there was continued confidence despite the uncertainty and that we have a well functioning market. The market report also tells me that both buyers and sellers are getting a fair deal.”

The NABOR® 2013 November Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® November 2013 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

• The overall median closed price in the $0-$300,000 category increased 15% from 140,000 in the 12- months ending November 2012 to $161,000 in the 12-months ending November 2013.
• Single family home closed sales increased 32 percent in both the $300,000-$500,000 category and
$500,000-$1 million category from 763 closed sales in the 12-months ending November 2012 to 1,009
closed sales in the 12-months ending November 2013, and 530 closed sales in the 12-months ending
November 2012 to 700 closed sales in the 12-months ending November 2013, respectively.
• The overall pending sales increased 4% from 10,667 in the 12-months ending November 2012 to 11,102
in the 12-months ending 2013.
• The overall inventory decreased by 17 percent from 6,518 properties in November 2012 to 5,428
properties in November 2013. Pending sales with contingent contracts are included in the overall
inventory number.

“We are beginning to see increased interest in the North Naples [34109, 34110, 34119] market with the highest number of closed and pending sales versus any other area in Collier County,” said Carmen Isbely Vasquez, Owner/Broker of U.S. Prime Realty. “The report indicates that the North Naples area had 2,639 closed sales and 2,942 pending sales in the 12-months ending November 2013. This is an 11% increase from 2,373 closed sales and a 6% increase from 2,772 pending sales in the 12-months ending November 2012.”

“Reported data confirms that we are also in a predominately cash buyers market,” says NABOR®’s new
President Patricia Pitocchi, who added that “cash purchases make up more than half of all home sales in Collier County. If seasonal residents with homes appraised below $300,000 and in good shape are considering selling before they head north next year, the 15% increase in median closed price for this category could mean a cash sale.”

Contacts: Pat Pitocchi, NABOR President & Media Relations Committee Chairman, (239) 261-2214, Marcia Albert, NABOR Director of Marketing, (239) 597-1666

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 4,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

How Do We Determine Your Home’s Competition?

sold@thesaadteam.com (The Saad Team) — Wed, 30 Oct 2013 12:33:00 -0700

Naples Real Estate

How Do We Determine Your Home’s Competition?

People from all over the world come to live in or vacation to our beautiful Naples community. Who could blame them with our incredible beaches and perfect weather?

Having such a demand for homes is great news for sellers, but how do we get your home noticed? Sellers frequently ask us how they can determine who their competition is so they can become the #1 competitor.

That’s a great question and that’s where with our years of experience, we can help you. When it comes time to market your home, there are a few different critical elements we look at.

Our first step is to look at your neighborhood. What condition are the homes around you in? Are they in good condition and what features and amenities do they have and what are the prices like?

Remember when we said buyers from all over the world come to Naples? When those buyers come, they don’t necessarily have a specific neighborhood they are looking at. Rather, they have certain criteria they want for their home: maybe a gated community, a golf course community or maybe a water front property.

It’s our job then to not only find the competition in your own neighborhood, but find where else in Naples they can buy a home with their wants and needs.

Sounds like a big task, right? How do you find all the homes in Naples similar to yours? Don’t worry; we have the tools, the experience and the networks to not only find out who your competition is, but how to make your home the most appealing to buyers.

If you are thinking about buying or selling, please give us a call at 239.595.8500. We would love to help you! Thanks for watching!

10 Critical Questions to Ask When Hiring an Agent

sold@thesaadteam.com (The Saad Team) — Tue, 15 Oct 2013 13:52:00 -0700

10 Critical Questions to Ask When Hiring an Agent - Naples Real Estate

Our selling season is approaching quickly and people are often wondering, “What should I be looking for when hiring my next real estate agent?” We have compiled a special report just for you that details ten critical questions to ask when hiring an agent. If you are looking to buy or sell a home, make sure you vet your agent before hiring him or her to make sure they can get the best deal for you! Buying a home is one of the largest investments you will ever make; take the time to make sure that the real estate agent you hire is the best for you.

1. “Are you a full-time agent?”
There are many part-time real estate agents, especially in a resort market like ours. You should only be looking for a full-time committed real estate agent who relies completely on the income they earn by selling real estate to support themselves and their family. An agent who also earns income outside the real estate industry will not feel a financial hit if they do not sell your home the same as they would if they relied completely on the income of selling your home to support themselves financially. Some part-timers are just dabbling in the business to make a little extra money or because they aren’t good enough to make a living full-time in the real estate industry. You need someone who lives, eats and breathes real estate.

2. “How long have you been practicing?”
In a softening market, you’ll probably want someone who has been a licensed agent for at least eight to ten years. Finding someone with experience will help you sell or buy a home in any type of market. Also, ask your potential agent how long he or she has been an agent in your local market. Markets vary from location to location; it is best to find someone that knows the ins-and-outs of the market you are looking to buy or sell.

3. “How many homes have you sold in the last consecutive 12 months?”
This is an important question because it demonstrates an agent’s track record. Make sure the potential agent can back up his or her answer to this question with documented proof. A good starting point to separate effective agents from ineffective agents is to see if they have sold over 20 homes in the last year.

4. “Does the agent have a clear and defined Plan of Action that specifically states exactly what that agent will do to sell your home?”
By asking this question, you can find out if your potential agent relies on passive marketing techniques or active marketing techniques. Passive marketing is where an agent lists the home, puts a sign in the yard, enters it into MLS, runs a newspaper ad or two, sits floor-time and waits for a buyer to call. Active marketing is where an agent aggressively spends their time looking for and talking to people who want to buy and sell homes. There are a host of systems specifically designed to find and locate buyers. Make sure your agent specifically identifies the systems they use.

5. “How well does the agent know their Market stats?”
Going in depth on the numbers that make up a real estate market can help an agent fully a market. This can lead to thousands of dollars in savings! Some important statistics are: the number of homes on the market, the number of homes sold in the past 30 days, the average time on sale for a home and how many months of inventory are currently available to by. This data is required to accurately price and strategically present the property to create a successful sale.

6. “Does the agent work alone or does the agent have a staff of professionals assisting throughout the entire sales process?”
With all the activities required to get a home sold and closed in today’s market, will the agent get bogged down with the day to day office activities? Make sure your agent has a paid staff including a listing manager a closing manager, a receptionist and an office manager. Having specialized positions will make the process run much smoother. This also allows your agent to be out generating buyer interest instead of in the office processing paperwork.

7. “Is the agent involved with continuous, ongoing training along with regular practicing and updating of their skills?”
The real estate industry is constantly changing. This is why it is important to find an agent that is dedicated to perfecting their current skills and acquiring the newest strategies to best sell your home. It also shows that the potential agent is committed to finding the best systems to sell your home quickly and for the highest possible price.

8. “Does the agent represent themselves as a million dollar or multi-million dollar producer?”
With the median home price approaching $250,000 dollars over the past several years, a million dollar producer would only need 4 sales for the year and a multi-million dollar producer would only need 8 sales per year. Too many agents actually believe people are impressed with these titles. As a seller, your concern should be that the agent you hire has a consistent track record that represents their ability to get homes sold.

9. “What makes the agent different? Why should I list my home with you?”
This question really gets to the core of the agents ability to communicate and demonstrate how they can make your home stand out from the competition. The answer to this question requires some critical thinking and creativity on the potential agent’s part; they can’t just give you numbers or a canned answer. When an agent has a confident, impressive answer to this question it shows that they take their job seriously and are proud of their work. This will translate to a stress-free selling process.

10. “What is the agent’s definition of “work”?
Over the past five to six years, an agent did not have to “work” to make a reasonable living. With the drastic changes in the market, hundreds of thousands of agents who never learned how to work are in a panic and are paralyzed with fear about what to do to get a home sold. We know what it takes to sell your home.

We at the Saad Team will be happy to answer these questions for you if you are trying to find an agent. If you or someone you know has any real estate needs, or are looking to find a real estate agent to sell your home, please give us a call at 239.659.5145 or email us at sold@thesaadteam.com. Thanks and we look forward to speaking with you!

Government Shutdown Risks Hurting The Housing Recovery

sold@thesaadteam.com (The Saad Team) — Thu, 3 Oct 2013 14:34:00 -0700

Government Shutdown Risks Hurting The Housing Recovery

From: http://www.forbes.com/sites/morganbrennan/2013/10/01/heres-how-the-government-shutdown-will-affect-housing/

By: Morgan Brennan, Forbes Staff

The government shutdown is here. Whether it’s not being able to get a new Social Security card or visit a national park, Americans will immediately feel the effects. But there’s one bright spot of the economy that stands to be affected as well: housing.

One of the biggest questions regarding the shutdown and how it will affect housing has revolved around the mortgage market, specifically prospective buyers’ access to new home loans. After all, more than 90% of all loan activity is underwritten, insured, or owned by the government and its affiliated entities.

Initially at least, the mortgage market is likely to be only minimally impacted. New loans will continue to push through most government agency pipelines. What will change is how long the process takes, as many agencies expect to experience delays.

Mortgages purchased and securitized by Fannie Mae and Freddie Mac will be unaffected because their operations are paid for by fees charged to lenders. And the Department of Veterans Affairs will continue to guarantee mortgages for Americans that have served in the military since these loans are funded by user fees as well.

But if the government shutdown of 1995-1996 is any indicator, the process will take longer than usual. “Loan Guaranty certificates of eligibility and certificates of reasonable value were delayed,” the VA warned in its September 25th contingency plan.

Where there has been mounting concern is the Federal Housing Administration, which currently endorses about 15% of the entire single-family mortgage market. Several media outlets recently reported that the FHA would be unable to endorse any single-family loans and that no staff would be available underwrite and approve new loans.

That prospect would be somewhat worrisome – if it were actually true. The FHA’s Office of Single Family Housing will indeed remain open for business, albeit with a smaller staff. “FHA will be able to endorse single family loans during the shutdown. A limited number of FHA staff will be available to underwrite and approve new loans,” the report now states. In other words, other lenders’ loans will continue to be insured and some in-house lending will continue to take place at a reduced rate.

The reason for that mix-up: the initial draft of the U.S. Department of Housing and Urban Development’s contingency plan mistakenly stated that single-family loan operations would cease. The report was amended over the weekend.

The FHA’s single-family loan operations are funded through multi-year appropriations, meaning their budget is not tied to the government’s standoff over funding for the new fiscal year that starts in October. On the other hand, what will be more affected is the agency’s Multifamily Housing Office, which is funded through yearly appropriations.

“Because we are able to endorse loans, we don’t expect the impact on the housing market to be significant, as long as the shutdown is brief,” continues the HUD report. “If the shutdown lasts and our commitment authority runs out, we do expect that potential homeowners will be impacted, as well as home sellers and the entire housing market.”

One government lender that will indeed suspend its home loan activity, however, is the Department of Agriculture. The USDA says that no new housing loans or guarantees will be issued through its Rural Development programs in a shutdown. The department also warns that such a scenario could cause “a setback in construction start-up,” and if the shutdown lasts for an extended period, “a substantial reduction in housing available in rural areas relative to population.”

“The government doesn’t generally approve loans, they basically just insure them,” says Don Frommeyer, president of the National Association of Mortgage Brokers and a vice president at Amtrust Mortgage Funding. “For the most part you aren’t going to see much of a hit in the mortgage market unless it goes for a long period of time.”

If it does stretch on, he adds, the worry will be what mortgage rates do in a market shrouded in fiscal uncertainty and how that will affect the home buying, especially in light of recent rate spikes.

Home lending aside, many economists and real estate experts are keeping a close watch on how Americans will react to this shutdown. “Administratively everything should keep moving along, but it’s more about the confidence of consumers and whether they perceive that the government shutdown could lead to a recession,” says Lawrence Yun, chief economist at the National Association of Realtors.

Moody’s Analytics chief economist Mark Zandi recently told the Senate Budget Committee that a partial shutdown could shave as much as 1.4 percentage points off of fourth quarter economic growth if it drags on for several weeks.

Americans’ confidence in their ability to buy and sell homes hit a record high in May, according to a Fannie Mae survey. Since then, as mortgage rates jumped more than a percentage point, that confidence level has plateaued. If prospective homebuyers fear that the country’s economic recovery will stall, or worse slip back into recession, they will pull back on purchases, worries Yun.

“Home sales is always the first housing variable that changes so one would see sales declining and that would naturally lead to more inventory on the market and eventually put pressure on prices,” he says. But that would be a worst-case scenario based on a long-term shutdown.

Jed Kolko, chief economist at Trulia TRLA +6.43%, notes that if the shutdown lasts longer than a few days, the first places to feel the impact will be local economies with large concentrations of federal government workers. Metro areas like Washington, D.C. and Bethesda, Md., where 19% and 13% respectively of total local wages go to federal employees, would be the feel the negative effects of unpaid furloughs and with them, tightened consumer spending and weakening local economic growth. Though not all will be equally affected, other metro areas like Virginia Beach, Va., Honolulu, Hawaii, and Dayton, Ohio are areas that Kolko is keeping an eye on: “Whether there is a big effect depends on how long the shutdown lasts, how long people think the shutdown lasts, and whether people get back-pay. All those things matter for the impact.”

Still others are worrying even more about the next fiscal standoff, in mid-October, surrounding the debt ceiling debate and its accompanying threat of debt default by the U.S. ”With the threat of an impending partial government shutdown and yet another battle over the nation’s debt ceiling, in particular, we are really messing with fire right now—even if it doesn’t seem to bother some legislators,” says Stan Humphries, chief economist at Zillow.

“But the effects of a government default associated with the impending debt-ceiling deadline would be more pronounced because of its greater impact on domestic and international markets. This will rattle consumers and investors alike, slow down the overall economic recovery and further slow the housing recovery, which is already undergoing a moderation in the pace of home value gains due to rising mortgage rates,” he warns.

Get Your Home in Top Shape to Get Top Dollar!

sold@thesaadteam.com (The Saad Team) — Tue, 1 Oct 2013 12:48:00 -0700

Get Your Home in Top Shape to Get Top Dollar!

Hello and welcome back to our video blog!

Many people are wondering what they need to do to spruce up their home and make sure it is in peak condition before they put it on the market. To maximize your curb appeal there are many things you can do that will cost you little or no money. These include: keeping the lawn edged and cut, picking weeds and performing other landscaping tasks. Clean and align your gutters. Repair and repaint loose siding and caulking. In Naples, we are at the tail-end of the rainy season, so you should pressure wash the front walkways, driveway, back porch and even the roof. Creating a great first impression to a potential buyer will go a long way in getting the best offer.

Moving to the interior of the house, there are some simple tasks that can be completed to make the property more enticing to buyers. Apply a fresh coat of paint to the walls. Change burnt-out light bulbs and change leaky faucets. Remove clutter and any family pictures to de-personalize the house. You want the buyer to immediately feel like the house could be theirs and it is harder for that to happen when they are constantly reminded of the current tenants. A stager will do wonders in preparing a home for market by freshening up the presentation of the house.

If you are thinking of selling and have questions regarding what you may need to do to get your home ready for market, please give us a call at (239) 595-8500 or send us an email at sold@thesaadteam.com. We’d be happy to talk with you about what you can do to make sure that your home is in top shape so that you can get top dollar. Thank you!

5 Reasons Your Home Isn’t Selling

sold@thesaadteam.com (The Saad Team) — Mon, 16 Sep 2013 06:52:00 -0700

Hello, everyone. Welcome back to our video blog!

I get asked quite often from frustrated sellers about why their home isn’t selling. Well, I have a list of five main occurring themes that explain why your home is sitting on the market.

1. Pricing. We have a great market, but it’s still price sensitive. Many sellers received incorrect information about where the market is and they then overprice their home.
2. Staging and photography. Did you know that 98 percent of buyers start their search online? That means how your home looks in photographs is the first impression buyers have. You need a professional photographer with a wide-angle lens to help showcase your home. You also want to make your home appealing to a wide range of buyers, have neutral colors and ‘declutter’ your home.
3. Restricted listings. It’s important to make your home available as much as possible to potential buyers. It can be a huge turn off for a potential buyer if they can’t view your home.
4. Attendance of sellers at showings. A lot of the time the seller likes to be present at the showing but most buyers find this uncomfortable.
5. First offer is the best offer. It’s an old saying in real estate, but most of the time it is still true. If the offer is lower than you wanted, see if you can negotiate or compromise.

These are five main reasons why your home may not be selling. If you have any questions about the market, or if you are ready to buy or sell, please give The Saad team a call at 239-595-8500! We’d be more than happy to help you!

Are you Overpaying Your Taxes?

sold@thesaadteam.com (The Saad Team) — Tue, 27 Aug 2013 15:26:00 -0700

Are you Overpaying Your Taxes?

Hello, everyone. Welcome back to our video blog. By now, all of you should have received an envelope from the Collier County Tax Collector’s office.

It is not a bill, but rather a notice of what your taxes should be. If you look at the notice, it gives the market value for your home from both 2012 and 2013.

If that value doesn’t seem right and you think you might be overpaying, give the Saad Team a call. We would be more than happy to do a free market analysis on your home!

If your home value is incorrect, you are able to file a petition with the Collier County Value Adjustment Board. The deadline to file is September 10th, so don’t wait to call us and get a market value!

We also invite you to visit the Collier County Tax Collector’s website. If you have questions about the amount you need to pay or if you find an error on your bill, this site is designed to help with all of your questions.

If you have any other questions about real estate, please give us a call!

Home Inspections

sold@thesaadteam.com (The Saad Team) — Fri, 16 Aug 2013 10:18:00 -0700

Hello, everyone. Welcome back to our video blog.

We get a lot of questions from our clients about home inspections. Well, first, congratulations on buying or selling your home!

Home inspections can be stressful for both the buyer and the seller. There is a sales contract that outlines specific requirements, but sometimes that can be muddled. Buyers want to know what they can ask to be done and sellers want to know what they have to fix.

When an inspector finds something not up to standards, he is required to report it. As a seller, you do have the right to decide not to fix it, however, anything the inspector finds needs to be disclosed to all other buyers, as well. So, you can take the chance of losing your current buyer, and hope to find a buyer who will accept the home as is or you can make the repairs.

If you have any other questions about home inspections or are ready to buy or sell, please give me a call at 239.595.8500. The Saad Team would love to help you.

Real Estate Market Update July 2013

sold@thesaadteam.com (The Saad Team) — Tue, 30 Jul 2013 07:47:00 -0700

Welcome back to my video blog! I’m here in Las Vegas at the Mike Ferry Superstar Retreat where 3,500 of the greatest agents around the world come to talk about the market and new ways to better serve you!

I wanted to tell you some great news; we are currently experiencing one of the most amazing markets in 15 years with the lowest inventory!

So my question to you is: do you know anyone who needs to get their home sold in this amazing market? If you do, call me now at 239.595.8500. Now is the perfect time.

Thanks again for watching!

2013 Naples Listing Report

sold@thesaadteam.com (The Saad Team) — Tue, 9 Jul 2013 10:54:00 -0700

Hi everyone! We wanted to give you a midyear update on the 2013 market. There have been some very interesting things happening.

If you do a side-by-side comparison of 2013 to 2012, you will find some major differences. As you can see from this first graph, listings have steadily dropped the further into 2013 we get.

Despite the dwindling inventory, though, there has been continued growth in pending sales. This means more and more homes are being purchased and fewer are coming on the market.

The final statistics we wanted to look at today was the number of closed sales. In 2013 we have seen an increase in the number of closing sales.

What does this all mean? These three factors lead to higher prices! The market is starting to rebound from the 30-40% drop in prices we used to see. This is great news for everyone!

If you have more questions or want to know more specifically about your neighborhood, call us immediately at 239.595.8500!

The Value of Your Home in Today's Market

sold@thesaadteam.com (The Saad Team) — Thu, 20 Jun 2013 08:44:00 -0700

Watch on your mobile device >>

Welcome back to our video blog!

A lot of people have been asking how to find out about the value of their home in today’s market. Let me add, if you’re not planning on selling, it doesn’t matter where the market is.

If you do plan on selling, though, we are happy to provide you with a market analysis. We noticed many of you are using a website called ‘Zillow’. This website is great to use if you want to find a general idea of the market, however, if you want more specific information go ahead and click on this link and we will provide you with a market analysis! Or if you feel more comfortable, you’re more than welcome to call us directly.

We’ll be able to provide you with the most accurate, up-to-date sales information with properties most comparable to your home. From there we can discuss what is best for you and your needs.

So go ahead and click on that link to get a market analysis or gives us a call at 239.595.8500. Thanks for visiting our blog!