Welcome to the Naples Meridian archive
Here you will find a curated collection of insights, inspirations, and expertise tailored for Naples, Florida. From luxury real estate and interior design to local art, culture, and architectural trends, we share what makes this community unique. Explore with us as we highlight the best of Naples living.
Naples Meridian Last Day on Hiatus in South East Asia Part 6…Goodbye Bali
As we come to terms with leaving Bali and the 24 hour flight ahead of us we leave you with some of...
Naples Meridian is on hiatus in South East Asia! Part 5.. A taste of the landscape in Bali
The Balinese believe that integrating internal and external environments is the only way to live....
Naples Meridian is on hiatus in South East Asia! Part 4.. Hello Bali!
We left Java behind today and after a short plane ride arrived in Bali. Countless writers have...
Naples Meridian is on hiatus in South East Asia! Part 3 – Borobudur
We just got done visiting the most inspiring site to date. Borobudur is the largest Buddhist...
Naples Meridian is on hiatus in South East Asia! Part 2 –
We just arrived at the Phoenix Hotel in Yogyakarta, Indonesia and are enjoying all that this...
Naples Meridian is on hiatus in South East Asia!- Thailand & Cambodia
We have just arrived to Thailand.. our first stop our our South East Asia adventure. We'll be on...
Not very Picky.. Domestic & International Cash Remains King in Naples Florida Real Estate
Figures from the National Association of Realtors for May 2011 are in and buyers who paid for their properties in CASH accounted for 30 percent of existing homes sales. Figures for buyers who bought brand new properties were not reported.
So who are these cash buyers, what are they buying and where are they coming from?
Naples Meridian.. On Hiatus in London Part 2; Housing or Home?
While we reported in our last segment that there is firm evidence that British consumers have returned to their old shopping habits, we can’t help but wonder how the property market has been impacted since the downturn in the market.
Our contacts noted that student housing market throughout the United Kingdom is booming, and upon further review it makes perfect sense.In areas like Liverpool or Nottingham where universities have thrived, student populations have swelled, naturally increasing the demand for student housing. As a result, rental rates remain strong and therefore a solid investment for investors exists.Outside of the student accommodation options, few developers were active throughout the dire recession. Yet those who have been successful came to market with “no frills” new build property options, where pretty extras like tiled floors and granite work surfaces are left to the purchaser to install after they move in. Price has been the driving factor in making deals; prompting buyers to move and investors to open their wallets.
From student housing accommodations to small and large residential schemes the British public and foreign investors are a bit spoiled for choice. With so much commotion we look forward to reviewing the up and coming new build schemes that will ride on the coattails of the 2012 Olympics in London .. and how the market will react!
Naples Meridian..On Hiatus in London Part 1; Out Shopping?
It was time to take a trip over the pond to Ol’ Blighty….to see some friends and reconnect with colleagues. After having worked in the London property market for five years and been away from it during the past two turbulent years we were interested to see how the country had coped with the austerity measures put forth by the coalition government and wondered about the true sentiment of the economic environment.
We are so pleasantly surprised that the general consensus is positive..almost optimistic!
Like Sands through the Hourglass….So are the Days of Jumbo Loan Mortgages
on October 1, 2011 Fannie Mae and Freddie Mac will reduce the maximum mortgage loan amounts from $729,750 to $ 625,000?In Naples, a total of 273 homes were sold for over $ 1 Million within the first quarter of 2011, yet a majority of these properties were purchased with cash funds.While these government run entities may be getting out of the jumbo loan market, Guy Cecala from Inside Mortgage Finance believes that other players are making a move. The market is already moving to compensate for the new regulations and private lenders will slide in to fill in the funding gap. Should a lender wish to write loans over $ 625,000 the lender will be required to hold the mortgage themselves or find a private investor to buy them. It seems as though all lending routes for jumbo loans may end up in the hands of private lenders? The impact of this eventuality may not be felt in our market for some time..which gives us all food for thought.
FANNINE-ING the FLAMES FOR BUYER BASED INCENTIVES
Fannie Mae has launched a special offer for buyers who purchase a Fannie Mae owned home. Purchasers will qualify for up to 3.5% in closing cost assistance provided they meet certain qualifications.This latest incentive is a win-win for both parties. Traditional buyers face a tough road obtaining financing as banks have clamped down on available loans. HomePath financing offers buyers an alternative mortgage source and, albeit, temporary closing cost incentive. Fannie Mae hopes that this incentive will persuade droves of buyers to purchase a Fannie Mae owned home, thereby reducing its growing inventory of properties.
The temporary incentive will give traditional buyers an opportunity to take a hard look at Fannie Mae owned homes and possibly be swayed to purchase one given the allure of free cash. Regardless of the incentive; buyers who purchase homes now, with the intention of staying put for a few years, will do wonders for every micro market. Does Fannie Mae realize that it’s attempting to systematically stabilize prices throughout the nation? Whether you are a fan or foe of this government entity, you’ve got to give them credit for trying!
Naples Rises from Florida Housing Swamp as Wealthy Buyers Return
Late last week Bloomberg released the news article below, which highlights Naples as a prime Florida location that continues to attract domestic and international buyers. I predicted the reaction to this article would get the phone ringing but the response has been beyond what we expected. On March 24, 2011 there were a total (year to date) of 3,044 sold properties and 81 pending sales (sales that are awaiting to close). As of March 31, 2011 at noon a total of 3,383 sold properties and 39 pending sales.In the past 8 days a total of 339 properties have changed hands between buyers and sellers. How does this compare to last week or the previous? From February 21- February 28 there were a total of 326 sales, and from March 7th – 14th there were 282 sales which we could argue was a light week due to St Patrick celebrations, since Naples is dedicated to spreading the cheer during this and all holidays!The positive press simply underscores what many prospective purchasers know; that Naples real estate is a value proposition.The spring season is usually a time when we see a decrease in activity though I believe this year we are in for a bit of surprise. As always I look forward answering your questions regarding the Naples real estate market!