Tax returns accounting for 15,150 people showed moves to Collier County from other parts of the country in 2008, the latest year for which IRS data is available. Their average reported income: $76,161 per person–equivalent to $304,644 for a family of four. Although slightly more taxpayers moved out of Collier County than into it, the departing residents’ average income came out to just $26,128 per person.
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JUST seven or eight years ago Naples was a sleepy if affluent snowbird resort, with a certain WASP-y charm but not much going on. Now, transformed by the stock market boom, it has found a new life as a second or third home for dot-com millionaires. It oozes big, new mon ey, which has overtaken the WASP-iness. Naples is a place where $5 million won’t buy much of a house. The choice ones start at $8 million, and in the Strand, a new gated community within an already double-gated community, houses go for $11 to $25 million. Naples was in the right place at the right time. It was the last nice relatively undeveloped place in Florida when the boom hit, and its location, once its drawback (practically the last mainland town on the Gulf Coast, the end of the line) became its salvation. Fortunately, it had the wherewithal to fulfill its destiny.
Florida metro areas are expecting the biggest employment gains thanks to retiring Baby Boomers, but a West Coast locale offers the best-paying job prospects.
Net migration into Naples, Florida, is the third-highest rate in the U.S. over the past 5 years: http://t.co/ZUh3jnzuD0
— Forbes (@Forbes) August 2, 2015
Naples, Florida, topped the list of metropolitan areas that are expected to see the most economic growth next year, according to an analysis of data in a new report from the U.S. Conference of Mayors prepared by IHS Global Insight. Bloomberg’s Mark Crumpton reports on “Bloomberg Markets.” (Source: Bloomberg)
Ever wonder where the country’s richest people are flocking to?
This Gulf Coast resort city has a vibrant downtown and high-end shops but also lush wetlands and white-sand beaches.
Sand, surf and sun calling you? It’s probably one of Florida’s top beaches. Answer the call with our list of the Sunshine State’s best shores.
Naples real estate has record-breaking year
“Hitting on all cylinders” is how Naples-area real estate pros described their market’s 2015 performance at Friday’s NapLes Area Board of Realtors year-end wrap.
2014 and 2015 were near-record years in almost every category, according to Downing Frye realtor Mike Hughes.
“It’s unusual to get two great years in a row. It made me flash back to 2004 and 2005,” Hughes said.
Naples has had more than 10,000 sales a year for five consecutive years, “a staggering number” given 2007 saw less than half that number the entire year.
“It made me flash back to 2004 and 2005.”
Mike Hughes, Downing Frye
Hughes estimated new construction represented as much as 35 percent of area real estate sales last year, something not seen in a long while.
The glaring exception to this picture: homes and condos below $300,000.
“There are a ton of buyers who want that price range. If we had more of that product, our numbers would be even higher,” Hughes said.
But there isn’t more, appraiser Cindy Carroll said. Supply in that price range stands at 15 percent and it’s not being built because land and construction costs are climbing.
Sales at Naples’ low end declined 30 percent in 2015 because of that small supply.
The outfall is “bracket creep:” Low-end properties have moved to the next tier, the $300,000 to $500,000 range, and buyers who can’t move up with it are looking in surrounding areas.
Roughly 64 percent of single-family pending sales were in the $500,000 and under range. Condo sales in that range were up 29 percent.
The most spectacular activity was in the Immokalee and Ave Maria area, where single-family pending home sales increased 81 percent over 2014.
“Low end buyers need to be prepped to move quickly. Thinking about it isn’t an option.”
Mike Hughes, Downing Frye
North Naples was the condo sales winner. Condos over $2 million did especially well, with pending sales growing 15 percent.
A word of advice to low-end home buyers: number of days on the market are getting vanishingly close to zero.
A single-family home under $300,000 stayed just 54 days on the Naples market last year, if that.
“Low-end buyers need to be prepped to move quickly. Thinking about it isn’t an option,” Hughes said.
Inventory is going up, and that’s a good thing
2015 marked the first time since 2008 that Naples housing inventory was up – even if just 6 percent.
“In 2008 we had three years of inventory on our hands. Today we have four to five months’ worth,” Carroll said. “That’s a good place to be for a logical, stable market going forward.”
The inventory leader: Ave Maria and vicinity, with a 45-percent increase year over year.
Realtors are now looking with anticipation to Rural Lands West, where Minto is starting to break ground on another massive development whose price point is as yet unknown. Will it compete with the $250,000 to $500,000 product that set Ave Maria on fire last year?
But most of the year’s new construction was in the $500,000 to $1 million range, which grew 27 percent.
And inventory was lower all over except in North Naples, up 27 percent.
Are prices going up? Yes and no.
Naples median prices were up 14 percent over the year before for all markets. Instead of $270,000, think $308,000 to get into a home here.
But not all housing categories grew.
Prices for $1 million to $2 million properties were stagnant. Those in the $300,000 to $500,000 range actually decreased one percent.
The condo market was on fire, with median prices up 14 percent.
And not only did Naples grow its $2 million and up inventory, that inventory grew 12 percent in median price.
“Recovery has been taking place in the underlying land value.”
Cindy Carroll, independent appraiser
But the surprise of the year was land.
“Someone once said, ‘Under all is the land.’ It is so true in Naples,” Carroll said.
A lot in Hawksridge sold for $470,000 in 2015; another in Tall Pines, for just under $200,000, according to the appraiser.
“Recovery has been taking place in the underlying land value,” she concluded.
Even in Golden Gate city, where lots in the recession sold for 7 cents on the dollar, vacant land is listing for $80,000, at or above pre-recession prices.
Few places in the country besides Naples can make that boast.
Golf in Naples, Florida
Golf is an important part of Naples and its History. There’s a story that goes something like this… Shortly after the Naples Beach Hotel Course was built, a small single engine airplane would often land on one of the fairways. The pilot would disembark and play a round(9 holes then), climb in his plane and depart. This was fine until a new Course Superintendent came on board. When he saw this, he immediately chased the flyer away(off HIS fairways). Mr. Lindbergh never landed on the course again!!! Golfers have been coming ever since by boat, car, train, and once again by air.
Naples has hosted major state, national and professional tournaments for several decades and continues to expand its role in competition play. The LG Championship(Seniors Tour) has been played at the Classics at Lely Resort, the Vineyards, and Pelican Bay in past years. These events draws more golf enthusiasts every year to Southwest Florida.
A large number of our developments are Golf Course Communities. Some excellent designers have ‘carved’ a place in the sun. They include; Jack Nicklaus, Gary Player, Arnold Palmer, Arthur Hills, Tom Fazio, Robert Trent Jones, Sr., Joe Lee, and many, many more. In fact, we have more courses per capita than any area in the world. When you stop for lunch or go out to dinner, odds are you will be in close proximity to a golfer’s table. Listen carefully, it might be tomorrow’s match…. With so many wonderful and challenging courses in the area, its a new experience everyday!!
Whether you enjoy the challenge of bunker play, navigating water hazards, the company of local wildlife, fast or undulating greens, or just a friendly wide open course; you can find them all in Naples. Showoff your long drives on Lely Flamingo, playing 7171 yards from the Championship Tees. Challenge the wind at the Naples Beach Hotel and Golf Club, or demonstrate your finesse around the green at Pelican’s Nest. If you like golf, you will love Naples. Naples sets the standard for golf in South Florida.
One of the true joys of playing a golf in Southwest Florida is you can see nature in the wild. Eagles, Osprey, Alligators, and other wild life abound. You just have to look for them, they are there. Watch where you go, you are on THEIR turf!!
Naples Golf Courses
Arrowhead 2205 Heritage Greens Drive, Naples, FL 34119 (239) 596-1000
Bonita Fairways 947-9100
Bonita Springs 992-2800
Cypress Woods 3525 Northbrooke Drive, Naples, FL 34119 (239) 592-7860
Forest Glen 3855 Forest Glen Boulevard, Naples, FL 34114 (239) 354-1898
Glen Eagle 353-3699
Hibiscus 175 Doral Circle, Naples, FL 34113 (239) 774-0088
Hunters Ridge 947-6467
Lely Flamingo Island 8004 Lely Resort Boulevard, Naples, FL 34113 (239) 793-2223
Lely Mustang 8004 Lely Resort Boulevard, Naples, FL 34113 (239) 793-2223
Links of Naples 16161 Tamiami Trail East, Naples, FL 34114
Naples Beach Hotel 851 Gulf Shore Boulevard North, Naples, FL 34102 (239) 435-2475
Quality Inn & Suites 4100 Golden Gate Parkway, Naples, FL 34116 (239) 455-1010
Riviera 48 Marseille Drive, Naples, FL 34112 (239) 774-2011
Audubon 625 Audubon Boulevard, Naples, FL 34110 (239) 597-2229
Bay Colony 9740 Bentgrass Bnd, Naples, FL 34108 (239) 592-9530
Bear’s Paw 262-1836
Bentley Village 597-4249
Bonita Bay 495-0200
Bonita Bay East 353-5100 Collier’s Reserve 11711 Colliers Reserve Drive, Naples, FL 34110 (239) 597-7200
Country Club of Naples 185 Burning Tree Drive, Naples, FL 34105 (239) 261-1267
Eagle Creek 601 Eagle Creek Drive, Naples, FL 34113 (239) 775-6394
Estuary at Grey Oaks 262-5550
Fiddler’s Creek 530-2818
Foxfire 1030 Kings Way, Naples, FL 34104 (239) 643-2402
The Glades 775-5501
Grey Oaks 262-5568
Highland Woods 498-0553
High Point 1100 High Point Drive, Naples, FL 34103 (239) 261-4442
Imperial Golf Club 1808 Imperial Golf Course, Naples, FL 34110 (239) 597-7186
Lakewood 4235 Lakewood Boulevard, Naples, FL 34112 (239) 774-4056
Lely Classics 7989 Grand Lely Drive, Naples, FL 34113 (239) 793-2600
LaPlaya Beach & Golf Resort 254-5001
The Moorings 2500 Crayton Road, Naples, FL 34103 (239) 261-1033
Naples Grande 7760 Golden Gate Parkway, Naples, FL 34105 434-7785
Naples Golf Club Inc 9325 Collier Boulevard, Naples, FL 34114 (239) 775-8743
Naples Golf Club South 18100 Royal Tree Parkway, Naples, FL 34112 (239) 732-0034
Naples Heritage 8150 Heritage Club Way, Naples, FL 34112 (239) 417-2555
Naples Lakes 4784 Inverness Club Drive, Naples, FL 34112 (239) 732-6700
Naples National 775-8911
Old Collier 790 Main House Drive, Naples, FL 34110 (239) 597-9898
Pelican Bay 707 Gulf Park Drive, Naples, FL 34108 597-2105
Pelican Marsh 1810 Persimmon Drive, Naples, FL 34109 (239) 597-3000
Pelican Sound 948-3333
Pelican Landing 498-5528 Pelican’s Nest 947-4600
Quail Creek 13300 Valewood Drive, Naples, FL 34119 (239) 597-2831
Quail Run 1 Forest Lakes Boulevard, Naples, FL 34105 (239) 261-3930
Quail Creek Village Golf Course 11875 Quail Village Way, Naples, FL 34119 (239) 566-1405
Quail West 5950 Burnham Road, Naples, FL 34102 (239) 593-4100
Royal Palm 405 Forest Hills Boulevard, Naples, FL 34113 (239) 775-1150
Royal Poinciana 4000 Goodlette Road North, Naples, FL 34103 (239) 261-2558
Royal Wood 4300 Royal Wood Boulevard, Naples, FL 34112 (239) 774-5585
The Strand 5800 Strand Boulevard, Naples, FL 34110 592-9944
Shadow Wood 992-6616
Silver Lakes RV Resort 775-2575
Spanish Wells 992-5522
Spring Run 949-0707
Tiburón 2620 Tiburon Drive, Naples, FL 34109 (239) 594-2040
Twin Eagles 11725 Twineagles Boulevard, Naples, FL 34120 (239) 352-2121
Valencia 1725 Double Eagle Trail, Naples, FL 34120 (239) 352-0777
The Vineyards 353-0541
West Bay Club 948-3481
Wilderness 101 Clubhouse Drive, Naples, FL 34105 (239) 261-5505
Windstar on Naples Bay 1700 Windstar Boulevard, Naples, FL 34112 775-3500
Wyndemere 700 Wyndemere Way, Naples, FL 34105 (239) 263-1700