"basskisser" wrote in message
m...
Naples is unique, say, from St.
Pete, because there is a LOT of swamp people. They are the equivelent
of hillbillies.

As usual, your timing is impeccable. Just today, in the local paper:

Naples Daily News

To print this page, select File then Print from your browser
URL:
http://www.naplesnews.com/npdn/news/...796311,00.html



High home prices seemingly no barrier to buyers
By THERESA STAHL
April 10, 2004

The highest home prices in the state aren't keeping buyers away from
purchasing a piece of Southwest Florida.

A new report shows Naples has the fastest-rising median sales price in
Florida, and some local developers are reporting a 50 percent increase in
the price of new homes.

"Some of these are price jumps are like nothing I've ever seen
before," said Brad Whalen, whose Naples firm, Sulk Whalen Public Relations,
specializes in residential real estate development.

The Florida Association of Realtors reported a 42 percent increase in
the median home sales price in Naples. The 2004 median price is $389,000,
nearly $100,000 over the second-highest median price in Florida.

Ocala came in second at a 27 percent increase, and Miami and
Sarasota/Bradenton tied for third at 24 percent. The statewide median sales
price rose 13 percent to $162,300 last month; a year ago it was $143,400.

Developers say the soaring prices for new homes are due in part to
high demand, larger homes, costly building materials and an increase in
offering more amenities and expensive home features.

"The Naples market is becoming very sophisticated," said Bernard
Ackerman, director of marketing for Crosswinds Communities, which developed
Sterling Oaks in North Naples and Portofino in Fort Myers. "People are
demanding higher quality features in the home."

More buyers are requesting pools and screened porches, as well as
granite instead of Formica or Corian in their kitchens, Ackerman said.

Building materials, including fill dirt and steel, have become scarce
commodities, according to David Ellis, director of the Collier Building
Industry Association.

The price of steel has increased significantly because the product
hasn't been available several times in the past six months, he said. This
happens occasionally, when car manufacturers buy up all the steel.

"When it gets really tight, it's hard for the average person," Ellis
said. "If you're the Ford Motor Co., you're going to get your steel, but if
you're a small developer in Southwest Florida, you're not."

Developers say they are building bigger, better product to satisfy
their customers.

Stock Development this year is offering more higher-end single-family
homes and has introduced a higher end multifamily home, said Brian Stock,
president of the company.

"We've introduced a lot of new product that has brought the price up,"
he said.

Stock Development has had 300 new home sales so far this year totaling
nearly $131.9 million in its three Southwest Florida communities, Grandezza
in Estero, Olde Cypress on Immokalee Road in North Naples and Lely Resort in
southeast Naples.

"We were expecting a good season, but this is stronger than we even
anticipated," he said.

The average selling price on homes in the Stock communities in 2003
was $284,945. The average price so far this year is $428,361, an increase of
50.3 percent.

In Olde Cypress, where the average selling price is $700,000,
first-quarter sales are $7 million ahead of total 2003 sales, Stock said.

"These customers are still buying where they feel good and secure
about their investment," he said.

Duane Sulk, also of Sulk Whalen, said although the stock market has
been steady lately, uncertainty still lingers in those types of investments.
Consumers know real estate is a better place to put their money, he said.

"Older baby boomers in Northern markets are beginning to come down
here in larger flocks," he said. "They're buying now because they know it is
the best time to buy. A home that's $300,000 today will be $450,000 five
years from now."

Miromar Lakes, a beach and golf club community in Estero, is also
reporting a 50 percent increase in the average sales price.

John Buehler, director of sales/broker for Miromar, said the average
home price climbed from $473,000 in 2003 to $703,000 in the first quarter of
2004, a 48.6 percent increase.

The community in 2003 had 78 transactions totaling nearly $35.2
million. This year they have 124 transactions or contracts totaling $87.6
million.

"It's been a wild year," he said.

Buehler said the increase is due in large part to bigger properties
and more waterfront property. He says the community's 700 acres of
freshwater lakes is a major selling point.

"We have something that is so unique, everybody wants to be a part of
this," he said, noting Miromar's residents can take advantage of water
skiing, wake boarding, sailing, fishing and canoeing.

Buehler said prices of resales in Miromar are also climbing
substantially. Homeowners who paid $900,00 to $1 million two years ago are
now selling for $1.6 to $1.9 million.

Although the overall resale market in Naples is strong, one longtime
Realtor says the increases are moving slowly.

"I haven't seen any gigantic price increases yet," said Phil Wood,
president of John R. Wood Realtors.

But in his own books, the numbers are looking better than ever.

"We just had our best month in history," he said.

The company had $243 million in sales for March, up from $95 million
in March 2003, a 155.8 percent increase. Wood attributed the growth to
several new programs, including a marketing program, and new, talented
agents.