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News from Poteet Properties

Poteet Properties announces Newest Associate

Kimberle WoodlandPoteet Properties is proud to announce the addition of Kimberle Ann Woodland as its newest Broker Associate.   Ms. Woodland is a lifelong resident of Collier County and brings 20 years of local real estate experience with her.   She is a graduate of Naples High School and attended Ringling School of Art and Design.

Ms. Woodland is a member of the National Association of Realtors and the Naples Area Board of Realtors.  She served the local Board as a NABOR Director and chaired a number of committees.   She has also been active on committees within the Florida Realtors organization.   Ms. Woodland holds the Certified Residential Specialist (CRS) designation and is a Graduate of Realtor Institute (GRI).

Locally she has been involved with the Boys Scouts of America, Naples High School Band Boosters, and the Naples on the Gulf Kiwanis.

Bill Poteet Goes To Washington DC

In Mid May, myself and approximately 8000 Realtors from around the United States swarmed our nation’s Capitol for the Realtor Party Convention and Expo. This is my favorite meeting of all Realtor meetings. I get to hear first hand from Senators, Congressman and women, Secretary’s of HUD, Treasury, Commerce, and more. Top economists including Dr. Lawrence Yun provide great information on the state of our economy, especially real estate.

At this year’s DC meeting I listened to numerous speakers discuss Congress’s current gridlock and what to expect in the coming months. I personally visited Senator Bill Nelson and Senator Marco Rubio as part of a Realtor leadership team from our great State of Florida. During a special luncheon for the Florida Realtors Major RPAC Investors I heard FHA Commissioner Carol Galante speak on her program’s status and the improvements needed to keep this valuable consumer product. She reported that this federal program much like Fanniemae and Ginnymae is now a cash cow for our US Treasury paying back the U.S. Government all billions that it borrowed during the financial crisis. The difference in this program between now and pre-recession is these government back lending programs are back to using conservative underwriting practices, thus fewer defaults in the loan portfolios. Preserving the mission of the FHA was one of our talking points with our U.S. Senators and Congressman.

FEMA was also there trying to explain all the recent changes it has made since Congress enacted the 5 year extension of Federal Flood Insurance (Biggers Waters) and the subsequent glitch bill entitled Grimm Waters that put a hold on excessive increases in your flood insurance premium. In my Land Use, Private Property, and Environment Committee meeting we discussed the Army Corp of Engineers recent push to regulate all waters, not just navigable. EPA is also pushing this discussion for if additional properties are added under the Corps jusrisdiction, EPA can also expand their regulatory reach. NAR is watching this extremely close to insure no adverse legislation comes from it.

Other issues we lobbied our elected officials was for was the extension of the mortgage debt forgiveness act, and the continuation of 1031 Exchanges for like kind investment properties. One of the Convention programs I missed was with Chris Matthews who reportedly wooed the crowd with his insights and perspectives. I did see David Plouffe & Steve Schmidt , two top Democract and Republican strategists, who gave a very forthright discussion on our government’s current malaise and what current issues both parties could come to agreement before 2016 elections. The discussion was sobering.

For our little center of the universe, Congress reported it was working on a Water Resource Bill which will help fund projects already approved in the Everglades Restoration Act. It has passed House and sits at the Senate for final passage, then on to the President’s desk for signature. This is expected to pass and be signed which will be great news for Southwest Florida.

Market Report

Nabor Market ReportNaples, Fla. (May 23, 2014) – The Naples area real estate market continues to show signs of growth as summer approaches with noteworthy performance in April as reflected in a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). April closed sales are the highest for any month year to date. Both pending and closed sales in April are over 1000 units each, showing good momentum going into summer. The closed sales activity in the $1 million and above category continues to remains strong with a 25 percent increase from 714 units in the 12-months ending April 2013 to 951 units for the 12-months ending April 2014.

According to Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, the increase in pre-summer sales activity is not solely a result of seasonal residents shopping during a winter visit. “The sales in April, and the pending activity we are seeing today, are from serious buyers, not shoppers. Homeowners that list now can expect fewer lookers and more offers over the summer.”

Pat Pitocchi, NABOR® president and corporate trainer at Downing-Frye Realty, remarked that the April statistics show median closed prices in all neighborhoods have increased double digits. “Even as product from new construction enters the market, prices for existing homes in April shot up 14 percent overall. This is a good sign that homeowners contemplating selling don’t have to wait until the winter season to put their home on the market to see a good return. Great sales activity in Collier County is no longer limited to just the winter months.”

Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., agreed and said she anticipates strong sales activity through the summer and into fall. “Five key indicators signal that the uptrend in the market continues: 1) pending sales are up, 2) closed sales are up, 3) median closed prices continue to climb, 4) days on the market are decreasing, and 5) inventory is continuing to decrease. In addition, many people prepared to buy a home in Naples this past season were unable to because very harsh winter conditions affected their ability to sell a home up north and come down to look for a home here. As these northern homes sell, we’ll start to see an increase in sales over the next six months.”

“New construction is becoming an integral part of the Naples real estate market. Data compiled from the U.S. Bureau of the Census shows 4,290 single and multi-family housing units permitted in Collier County from 2012 to 2013,” said Fioretti.

“Our agents are showing buyers new construction homes,” said Phil Wood, President & CEO of John R. Wood Realtors. “There isn’t enough existing home inventory to go around. But not even new construction can keep up with the current level of demand.”

The NABOR® April 2014 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® April 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

  • Overall closed sales increased 4 percent from 9,385 sales in the 12-months ending April 2013 to 9,763 sales in the 12-months ending 2014.
  • Closed sales for single-family homes in the $2 million and above market increased 56 percent from 25 in April 2013 to 39 in April 2014.
  • The overall median closed price increased 14 percent from $219,000 in the 12-months ending April 2013 to $250,000 in the 12-months ending April 2014.
  • The overall median closed price of homes $300,000 and under increased 13 percent from $149,000 in the 12-months ending April 2013 to $168,000 in the 12-months ending April 2014.
  • The median closed price for condominiums in the $2 million and above market increased 8 percent from $2,700,000 in the 12-months ending April 2013 to $2,922,000 in the 12-months ending April 2014.
  • The overall average days on market are at 93 for April 2014.
  • Overall pending sales increased 3 percent from 10,678 in the 12-months ending April 2013 to 10,987 in the 12-months ending April 2014.
  • Overall pending sales increased 13 percent for homes $2 million and above from 48 contracts in April 2013 to 54 contracts in April of 2014.
  • Overall pending sales decreased 12 percent in the $300,000 and under segment from 762 in April 2013 to 672 in April 2014.
  • Inventory of condominiums decreased 24 percent from 2,553 units in April of 2013 to 1,951 units in April of 2014.
  • Inventory of condominiums in the $2 million and above market decreased 47 percent from 64 in April 2013 to 34 in April 2014.
  • Inventory of single-family homes increased 2 percent from 2,167 units in April of 2013 to 2,206 units in April of 2014.

“Many seasonal residents who wanted to buy this winter but didn’t find anything during their visit have asked our residential agents to contact them when something new comes on the market,” said Tom Bringardner, Jr., President & CEO of Premier Commercial. “With a ready and eager buyer base in place, and 71 percent of home sales still made in cash, homeowners that list with a professional REALTOR® should have little trouble finding a qualified buyer this summer.”

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 4,700 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.

 

NABOR First Quarter Report Indicates 2014 Off to a Strong Start

Naples, Fla. (April 17, 2014) – Million dollar home sales in Naples continue to skyrocket with the $2 million and above single family home market increasing 83 percent from 48 sales in the first quarter of 2013 to 88 sales in the first quarter of 2014, according to the 2014 First Quarter Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Overall closed sales increased 5 percent from 2,237 in the first quarter of 2013 to 2,352 in the first quarter of 2014.  However, closed sales in all price categories above $300,000 increased by double digits with the $2 million and above price category experiencing the highest increase of 80 percent from 61 sales in the first quarter of 2013 to 110 sales in the first quarter of 2014.

Overall, homes in the $300,000 and below price category realized the biggest median closed price adjustment from $159,000 in the first quarter of 2013 to $173,000 in the first quarter of 2014, which reflected a 9 percent increase.

“NABOR reports statistics based on activity in the Southwest Florida MLS [multiple listing system],” said Pat Pitocchi, NABOR® president and corporate trainer at Downing-Frye Realty. “However, the system does not compile all commercial real estate activity or new construction activity.”

According to Wes Kunkle, a commercial broker at Kunkle Realty and NABOR® president in 2013, activity has increased in commercial real estate for the first quarter as well. Activity was also impressive in the new home construction market during the first quarter according to Brett Brown, Director of Sales and Managing Broker for Fiddler’s Creek Realty, Inc.

In the first quarter of 2014, a total of 270 homes with a median closed price of $1 million and above exchanged hands in Collier County (excluding Marco Island), up 65 percent from 176 closed sales in that category during the first quarter of 2013, according to the report.

“The Naples area housing market does not appear to be slowing down,” said Pitocchi. “REALTORS are busy; especially agents who are showing homes priced over $1 million. In addition, for the first quarter of 2014, cash sales are continuing to dominate the market as shown by sales of 74 percent versus financed sales of 26 percent.”

Inventory in all price ranges has continued to decline. In the first quarter of 2014 there were 4,405 available properties, a 14 percent decrease from the 5,136 available during the same quarter last year.

As reflected in the statistics, the tight supply and high demand of homes is not triggering dramatic price increases. The median closed price in the price segments above $300,000 increased 9 percent from $540,000 in the first quarter of 2013 to $590,000 in the first quarter 2014.

The NABOR® 2014 First Quarter 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® First Quarter 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

  • Overall closed sales increased 5 percent from 2,237 sales in the first quarter 2013 to 2,352 sales in the first quarter of 2014.
  • The overall median closed price increased 15 percent from $230,000 in the first quarter 2013 to $265,000 in the first quarter 2014. The overall median closed price of homes $300,000 and under increased 9 percent from $159,000 in the first quarter 2013 to $173,000 in the first quarter 2014.
  •  The overall average days on market are at 95 for the first quarter of 2014.
  •  Overall pending sales increased 45 percent for homes $2 million and above from 120 contracts in the first quarter of 2013 to 174 contracts in the first quarter of 2014.
  •  Inventory for condominiums decreased 23 percent from 2,758 units in the first quarter of 2013 to 2,110 units in the first quarter of 2014, while inventory for single-family homes decreased only 3 percent from 2,378 units in the first quarter of 2013 to 2,295 units in the first quarter of 2014.

The NABOR® March 2014 Report reflects sales statistics presented in chart format, with these overall single-family and condominium statistics:

  • Overall closed sales increased 42 percent in the $2 million and above price category from 245 sales in the 12-months ending March 2013 to 348 sales in the 12-months ending March 2014.
  • Overall pending sales increased 4 percent from 10,633 contracts in the 12-months ending March 2013 to 11,083 contracts in the 12-months ending March 2014.
  • Overall median closed price increased 15 percent from $215,000 in the 12-months ending March 2013 to $248,000 in the 12-months ending March 2014, with the under $300,000 price segment experiencing the largest increase of 11 percent from $148,000 in the 12-months ending March 2013 to $165,000 in the 12-months ending March 2014.
  • Closed sales for condominiums increased 10 percent from 4,694 sales in the 12-months ending March 2013 to 5,140 sales in the 12-months ending March 2014.
  • The median closed price of single-family homes increased 25 percent from $248,000 in the 12-months ending March 2013 to $310,000 in the 12-months ending March 2014.

“According to the report, distressed sales – foreclosures and short sales – now account for only one in ten transactions,” said Steve Barker, Advising Broker for Equity Realty. “This represents an important milestone and indicates that Naples has returned to a stable real estate market.”

“Despite a low inventory, sales are strong because the inventory is continually being sold and replenished. List your home with a REALTOR® who can help you price it correctly and it will likely sell quickly,” said Pitocchi.

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 5,000 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.

Bill Poteet Awarded Realtor of the Year

2012 REALTOR® of the Year Brenda Fioretti congratulates 2013 REALTOR® of the Year William H. Poteet, Jr., GRI, AHWD, CAM

2012 REALTOR® of the Year Brenda Fioretti congratulates 2013 REALTOR® of the Year William H. Poteet, Jr., GRI, AHWD, CAM

NAPLES, FL (March 24, 2014) – Naples Area Board of REALTORS® (NABOR®) held its annual Night of Honors celebration on Saturday, March 15, 2014 at Wyndemere Country Club. Chartered in 1949, the 4,500-member professional organization of REALTORS® in Collier County recognized the accomplishments of many of its members who have volunteered their time and talents to better the organization, industry and community. The highest honor – REALTOR® OF THE YEAR, which recognizes a member who has distinguished themselves through outstanding contributions in the community, and on the local, state, and national association level – was awarded to Bill Poteet, an active member of the real estate profession for over 30 years, 12-year NABOR® member and owner of Poteet Properties.

The evening started with opening remarks from NABOR® President Pat Pitocchi, and was followed by recognition to over 30 members in the NABOR® and the Florida Realtors® Honor Society by the event’s master of ceremonies, 2013 NABOR® President Wes Kunkle. Honor Society members provide participation at the local and national levels to include activity in NAR®’s institutes, societies and councils, designations earned; educational activities; and political involvement.

Kunkle then presented the following five NABOR® members with Emeritus Status: Jo Carter, Brenda Fioretti, James Nelson, Jon Ogel, and Joseph Holan. Emeritus Status is awarded in recognition of forty cumulative years of membership in the National Association of REALTORS® and in recognition of valuable and lasting contribution to the real estate profession in the community.

John R. Wood presented the Ad Miller Award to recently retired Collier County Director of Code Enforcement Diane Flagg. This NABOR® award recognizes an individual who works to enhance and/or preserve private property rights, ownership and transferability, and the preservation of the free enterprise system.

NABOR President Pat Pitocchi presented the Hall of Fame award to local attorney Jim Pilon, who volunteers his time and counsel to NABOR®. This award honors a member who has given at least 20 years of extraordinary dedication and service to the profession.

NABOR® Past President Brenda Fioretti, who won the 2012 REALTOR® of the Year award, presented Poteet with the top honor adding that he has also received NABOR®’s Citizen of the Year award twice, a Humanitarian of the Year award and has been named a Golden Gate Civic Association Citizen of the Year.

Poteet has also served on every NABOR® committee and was the organization’s 2012 president. He was a Florida Realtors Director from 2008-2013, and a NAR Director & Federal Political Coordinator (FPC) in 2013. Poteet won NABOR®’s prestigious Ad Miller Award seven years ago. Poteet’s community contributions extend beyond his activity in NABOR® and exemplify the same commitment and pledge to make the community a better place for everyone.

On receiving the award, Poteet turned to Fioretti and said, “I had a good example set for me.” In reflection, the 2013 REALTOR® of the Year added that the award “is humbling. I am associated with so many other good folks in the industry, which is a gift in itself.”

Other NABOR® award recipients included:

  • Affiliate/Allied Committee Contribution Award: Nate Tasso
  • Affiliate/Allied Member of the Year: Holly Harmon
  • Affiliate/Allied Rising Star Award: Priscilla Kellerhouse
  • Citizen of the Year: Mario Valle
  • Educator of the Year: Corey McCloskey
  • Humanitarian Award: Bobbie Dusek
  • Leadership Academy Alumni Award: Christine Citrano
  • REALTOR Committee Contribution Award: Ryan Bleggi
  • Task Force Contribution Award: Rick Fioretti & Bob Hewes

Sponsors for the 2013 Night of Honors included The Naples Daily News, Comprehensive Building Consultants, Synovus Bank, Access Title Agency, DataQuick Title, Adam A. Bleggi, Esq. with Brennan, Manna & Diamond, P.L., and Turn Key Construction.

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