Friday, May 20, 2016

Naples Buyers & Sellers: Beware of Zillow - Zillow CEO Spencer Rascoff Sold Home For Much Less Than Zestimate

Many of Buyers and Sellers in the Southwest Florida market tend to use online tools to try to get an idea of their real estate values.  Zillow is one of the major players in the online space and I'm sure is one you are familiar with.  But, what consumers don't realize is that Zillow uses aggregrate data to determine values.  In more complex markets, like Naples Florida, where there can be major variances by neighborhood and location, Zillow has problems.  A great example of this issue is via Zillow's own CEO, Spencer Rascoff, who was recently in the news when his home sold for much less than his own Zestimate!
On February 29, Rascoff sold a Seattle home for $1.05 million, 40 percent less than the Zestimate of $1.75 million shown on its property page a day later.The gap between the Zestimate of Rascoff’s former property and its sales price has decreased only modestly since then. Zillow readily acknowledges that Zestimates can be inaccurate, but some consumers can still take them at face value, causing headaches for agents.
‘We missed’ 
Zestimates on Rascoff’s former home have certainly been overstating the property’s value, said Zillow Chief Analytics Officer Stan Humphries.
“The fact that we missed and there are empirical reasons we missed — that’s a great conversation that real estate agents should have” with consumers, he said, citing the property’s irregular lot and location on a busy road as partly responsible for its Zestimate’s inaccuracy.   In July, the Zestimate of Rascoff’s former property wouldn’t have raised the eyebrows of anyone who’s familiar with automated valuation models (AVMs). At $1.388 million, the property’s Zestimate was 7.3 percent higher than its listing price of $1.295 million at the time. Since Zillow only shows revised historical Zestimate data on property pages, the home’s property page currently indicates that the property’s Zestimate was around $1.6 million in July 2015, somewhere in the neighborhood of $200,000 more than the Zestimate that actually appeared on its property page on July 17, 2015.
‘The classic luxury homes problem’
Zillow Senior Economist Skylar Olsen added that the Zestimate of Rascoff’s home represents “the classic luxury homes problem". ”Zestimates can’t take into account “non-quantifiable facts,” such as layout design or lighting, and these facts can have much more of an effect on the values of luxury homes than less expensive properties, she said. Irregular lot sizes or proximity to 'arterial' roads can sometimes throw off Zestimates as well.  Real estate agents can see how special features impact a property’s value, but the “Zestimate algorithm can’t know” and “at this point in time, it’s not designed to know,” she said.  
While Zillow says on its website that most consumers understand that Zestimates truly are only estimates, the listing portal concedes that, sometimes, “someone will come along that insists on setting the price they are willing to buy or sell for based solely on the Zestimate".  This is why using Zillow in a luxury market like Naples can be very problematic so be sure to talk with an agent (like us!) who really knows the market to help guide you in your next Naples area real estate transaction.

Tuesday, May 17, 2016

Tiburon Naples Florida Update

The Samuel Team specializes in luxury communities throughout Naples including waterfront and golf.  One of the communities we have been especially busy in over the past few years is Tiburon.  We just recently closed two in there last week, one in Marquesa Royale (condo) at $1.6 million and one in Serafina (villa) at $1.9 million - both are very good comps for the community.

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If you aren't familiar with Tiburon, it is one of the unique communities in Naples.  Developed in 1999 by WCI Communities, Tiburón in Naples Florida is a private, gated golf community built on over 600 acres of native Florida foliage.  Home to the Ritz Carlton Golf Resort, Tiburon is centrally located off Airport Road and features a legendary lifestyle with extensive amenities.
One of the top courses in Naples, Tiburon Golf Club features two-state-of-the-art Greg Norman designed courses (36 championship holes) and a 27,000 square foot Mediterranean style clubhouse equipped with fine and casual dining, member locker rooms, fitness center including weight training equipment, personal training instructors, an award winning golf pro shop and is home to the Rick Smith Golf Academy.  Tiburon is home to the annual Naples Winter Wine Festival and the Shark Shootout.  Additional amenities include resort-style heated pool, four lighted tennis courts, spa services, luxury beach transport and Member Concierge services (located at the Ritz-Carlton Golf Resort).   Housing options at Tiburon include single family homes, mid rises, coach home, condominiums and estate homes.  The greens will be redone at the Gold Course this summer.
Golf is just the beginning of this magnificent resort-style community. Amenities include spa services with two massage rooms, resort-style heated pool, four lighted tennis courts, luxury beach transport, Member Concierge services are located adjacent to the Ritz-Carlton Golf Resort. Residents have a choice beautiful of single family homes, condominiums and estates.
Give us a call if you are looking to buy or sell your home in Tiburon and would like to take advantage of our Tiburon real estate experience, knowledge and savvy.

Thursday, April 28, 2016

Our newest listing at 3882 Midshore Drive in Wilshire Lakes - Just listed for $639,000

We are pleased to announce our newest listing at Wilshire Lakes.

3882 Midshore Drive
This 3 bedroom plus den, 3 bathroom home is listed for $639,000.
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Nestled in the conveniently located & gated neighborhood of the Wilshire Lakes in North Naples, this delightful home was built by Arthur Rutenberg on an oversized corner lot with southeast exposure & long lake view. Meticulously maintained, this comfortable Amelia II floor plan features 3 bedrooms & 3 bathrooms with a luxurious master suite, den, great room w/fireplace, formal dining room & sunny morning room with sliders overlooking the large pool w/enclosed lanai and lake. 

With a bright, open & spacious floor plan, this home features white kitchen cabinets, corian counters, stainless steel appliances, tile, hardwood & laminate flooring, built-ins in the family room & den, plantation shutters, volume ceilings, circular driveway, gas fireplace (via a buried propane tank), in-wall pest control, electric & manual hurricane shutters, electric fence (for dogs), pool and 3 car garage. 

Wilshire Lakes is a desirable, low fee, 24 hour guard-gated community in a top-rated school district, conveniently located in North Naples & close to restaurants, shopping, beaches, golf & boating. Wilshire Lakes amenities include gate, clubhouse, pool, fitness room & lighted tennis courts.


Call us to schedule a showing of this beautiful home in Wilshire Lakes!

Wednesday, March 30, 2016

Introducing Sienna Reserve - new construction in Naples Florida

Sienna Reserve is a new construction neighborhood by Zuckerman Homes being built in North Naples.   Featuring only 45 new homes situated on nature preserves and a beautiful freshwater lake and offer 8 unique one and two story floor plans, Sienna Reserve represents a significant value in new construction in the North Naples area.  Featuring elegant floor plans that highlight world class design, architecture and the luxurious Florida lifestyle, residents will be enjoy a gated community that for a LIMITED TIME is offering complementary access to Tiburon Golf Club (Medallion level membership) while the home is being built.   Once the home is completed, homeowners are eligible to become full members are Tiburon Golf Club.




Life in Sienna Reserve is grand.   With a gated entrance with covered visitor lane, sprinkler system throughout the community, beautiful fountains at all roundabouts, compete lawn & land maintenance, brick paver entry, street lights, programmable network between the gates & your home, NATURAL GAS for cooking/pool/spa and professional management for the HOA, you can enjoy the best that Naples has to offer.

Call us to learn more about Sienna Reserve.

Wednesday, March 16, 2016

Announcing our newest listing at 7722 Trent Court in Classic Plantation Estates in Lely Resort Naples Florida


7722 Trent Court in Lely Resort - just listed for $1,395,000.

This one-of-a-kind Divco estate home features a private, oversized cul-de-sac lot with sunrise and sunset lake views!  

Southern facing lanai with pool, spa and fountain

Fabulous kitchen with large center island, wood cabinetry and stainless steel appliances.

Street of front of home at dusk.

Walking thru stately Cantera entry doors you are greeted with a stunning vista of the spacious pavered lanai, 25’ infinity edge pool/spa/fountain and southern lake views. Oversized custom, sliding lanai doors, open the kitchen to outdoor living at its best.  The bright kitchen features Wolf, Sub Zero and Miele stainless steel appliances, granite countertops, custom backsplash, large center island, wood cabinetry with a walk-in pantry.  The master bedroom awakens to the morning sunrise with doors opening to the lanai. The master bath features dual sinks and vanities, a walk thru shower, dual shower heads and a spacious walk in closet.  Guest bedrooms, with ample closet space, feature attached bathrooms.

With 12’ ceilings, tray ceilings in the master & den, plantation shutters, stone tile and custom lighting, and crown molding throughout, this estate home has it all!  Additional features include three car garage, two Amana 16 seer air conditioning systems, two 50-gallon hot water heaters, a buried 250-gallon propane tank, a whole house surge protector, central vac and a multi room sound system from the family room to the lanai.

The outside living includes dual gas/electric heated pool & spa, oversized saltwater pool, Aqualink control system, outdoor shower, plumbed gas for outdoor fireplace(s), removable baby barrier pool fence, enclosed lanai/screen cage, a half bath, Ducane gas grill w/warming drawer and mature landscaping & lighting.

Lely Resort features the ultimate resort lifestyle; the award winning Players Club and Spa with casual/elegant dining, state-of-the-art fitness center, professional tennis center with 13 championship courts, resort style pool, full service salon & spa, restaurants, basketball courts, billiards room, business center and three onsite championship golf courses.  Just minutes to downtown 5th Avenue  shopping, dining and beaches.  

Call us at 239-298-3555 to schedule a showing of this fabulous estate home.

Sunday, March 13, 2016

We are pleased to announce our newest listing in the Vineyards Naples Florida


1083 Augusta Falls Way, Naples Florida 34119
Single Story Pool Home in Augusta Falls in the Vineyards
Offered at $549,000


Nestled in the prestigious, conveniently located & gated neighborhood of Augusta Falls in the Vineyards in North Naples, this delightful former model home in Augusta Falls sits on a private cul-de-sac street and features an oversized lot with spectacular long lake and western exposure sunset views. 
 Meticulously maintained, this comfortable 3 bedroom, 3 full bathroom, 2,047 square foot home features Corian countertops in the kitchen, a formal dining room with vaulted ceilings, living room and great room with sliders overlooking the large heated pool and spa with enclosed lanai.   This worry-free, safety conscious home features security system, electric & manual hurricane shutters and a whole house generator with a buried 500 gallon propane tank.  Other features include a newer A/C system, a large laundry room, a pool bath off the master, a pavered driveway with 2 car garage and extensive outdoor landscaping.  Cable TV, landscape maintenance, garbage removal, maintained jogging path, and a heated neighborhood pool a block away are included in the low HOA fees. 
 The Vineyards is an upscale golf community featuring two 18-hole PGA championship golf courses, fitness center, a recently renovated 70,000 sq. ft. clubhouse, 12 lighted Har-Tru tennis courts and Community Center with a 32 acre park adjacent to the residential communities.  Vineyards offers several Club Membership options – all voluntary and has no CDD.  With easy access to Naples beaches, restaurants and attractions, this home is a perfect Naples getaway, year round retreat or investment!
Please call 239-298-3555 to schedule an appointment to see this Vineyards home.

Thursday, March 10, 2016

New Listing at 521 Turtle Hatch Road

We are pleased to announce our newest listing at 521 Turtle Hatch Road.
Just listed at $1,099,000.




This meticulously maintained single family home on a quiet street in the heart of Park Shore features a private lot within walking distance to the Park Shore Beach and close to A-rated public schools.

Originally built by Michigan Homes and remodeled in 2000, this split floor plan features an entry foyer, large living/dining room, family room, corian countertops in the kitchen, tray ceilings, plantation shutters and an additional suite added to the master bedroom.  With a workable floorplan and ample storage throughout with beautiful views of the pool/spa and a lush tropical backyard. this home is move-in ready or can be renovated to your family’s needs.

Your guests will delight with the two guest bedrooms with ample closet space in each. Step outside and lounge by the heated pool on the fully screened paver deck and appreciate the tropical landscaping.  Additional features include electric hurricane shutters, a two car garage, circular driveway with brick pavers and fruit trees in the backyard.  Close to the beach, Venetian Village, Waterside Shops, supermarkets and local restaurants.  Park Shore Beach membership is voluntary.

Call us to scheduling a showing of this wonderful Park Shore home....


Tuesday, March 8, 2016

Kalea Bay Records $100 Million in Sales

Kalea Bay, the high rise community developed by Soave Real Estate in Naples has recorded over $100 million in sales so far for the new tower development off Vanderbilt Drive.  Construction of the first of 5 towers began earlier this summer and the towers first and second floors are visible from Vanderbilt Drive.  The first tower at Kalea Bay is scheduled for completion summer of 2017 and will feature 22 stories and 120 luxury residences and two floors of parking.   There are six floor plans available at Kalea Bay with pricing starting at $1.3 million.  Plans start at 3,280 square feet and go up to 3,921 square feet featuring three or four bedrooms. All Kalea Bay residences will feature fabulous gulf views, open floor plans with private elevators, nine foot ceilings and wood floors throughout as well as custom gourmet kitchens with natural gas and oversized kitchen islands.  Additional features include floor to ceiling windows and doors, high tech wiring and equipped laundry rooms and wide lanais with transparent glass railings as well as rooftop amenities.  Kalea Bay is a resort style community and will include a clubhouse with 3 individual pools, a pool deck bar, an indoor/outdoor restaurant, a snack bar and an internet cafe as well as a tennis pavilion and 24 guest suites.  For beach convenience, a shuttle service from the clubhouse will run to the Gulf beaches.

Call us for more information regarding Kalea Bay!
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Thursday, February 25, 2016

AQUA Tower II now under construction

AQUA at Pelican Isle is a unique offering overlooking the Pelican Isle Yacht Club & Harbor, Wiggins Bay and the Gulf of Mexico.  The first tower is completely sold out and the second tower will set the standard for luxury waterfront living.  With only 32 residences in the new Tower, this 11 story low density waterfront high rise will have floor plans from 3,940 to 6,599 square feet, with three and four bedroom plans each with generous sunrise/sunset views, gourmet kitchens, spacious bedroom suites and lavish master bathrooms.   

AQUA residences enjoy unparalleled amenities - the community's private yacht harbor, a rooftop sky lounge and terrace, a grand social room, resort style pool & spa, gas grills, fire pits overlooking the yacht harbor, a fitness center and private movie theatre to cap it all off!  There will also be additional guest cottages and cabanas for purchase by residents, as well as a three spacious guests suites which can be reserved for guests.
Call us to discuss Tower II at AQUA!
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Tuesday, February 23, 2016

Model Residences now open at Naples Square

The first building at Naples Square has been completed!  There are now 3 full furnished models now open in Phase I.  For those of you who are new to Naples Square, the developer, The Ronto Group, is developing Naples Square at the corner of 5ht Avenue South and Goodlette Frank Road.  There will be one and two story , two and three bedroom floor plans from 1200 square feet to over 3,800 square feet available featuring open air living with terraces.  Just one Phase I residence is currently available; Phase II construction will complete first quarter of 2017.

Naples Square unparalleled location and "walkable" lifestyle is connecting 5th Avenue to Bayfront with access on 10th Street via 3rd Avenue South.

Prices start in the $600s and go over $1.4 million.  There are a total of nine floor plans.

Call us to preview Naples Square - one of the "best buys" close to the 5th Avenue with wonderful amenities.

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Wednesday, February 17, 2016

February 2016 Southwest Florida Real Estate Update




   February 2016
 
John R. Wood Properties 
 
SOUTHWEST FLORIDA REAL ESTATE UPDATE
John R. Wood Properties
 
 
 
 
 
Closed Sales $2 million+ Increases Over Prior Year
 
Closed Sales
The number of sales closed during the month of December is the second highest on record for the month (993). The highest for this period was December 2014 with over 1,100 closed sales. During the past 12 months, closings increased in all price categories with the exception of properties priced below $250,000, which decreased 4.4% from prior year. This was driven by shrinking supply rather than a lack of demand. Closed sales priced above $2 million remained strong throughout the year with 481 sales as of year-end 2015. This represents a 10% increase over year-end 2014 when there were 439 closings in this category.
New Listings/Inventory
Available inventory as of January 1, 2016 consisted of 5,131 units, an increase of 59 units over January 1, 2015. The average list price over the past 12 months was $624,503, an increase of 7% over the average of $582,461 during the 12 months' ending December 2014. There were a total of 1,375 new listings placed on the market in December, an increase of almost 5% over December 2014.
Average and Median Sales Price
The average price of closed sales during the month of December increased 4.9% year-over-year, while the median price was up 14.2%. The average price of properties priced above $2 million was statistically level with the prior year end ($3,803,000). Median price in this segment increased 5.4% to $3,093,012.
Detailed summary of the SW Florida Market: Click Here
Detailed summary of the Gulf Shore Blvd Market: Click Here
Detailed summary of the Marco Island Market: Click Here
 
 
 
 
The Samuel Team
 
The Samuel Team 
(239) 298-3555
John R. Wood Properties
Central 
3255 Tamiami Trail North
Naples, Florida 34103
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