Andrew Oliver joins the Feins Group at Compass
I am excited to announce that I have joined the Feins Group, one of the premier groups operating in Naples as these numbers show:
I bought my house through Jon Feins and would be delighted to help you buy yours.
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
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www.TheFeinsGroup.com
www.OliverreportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
Federal Reserve: “Make me responsible…. but not yet”
With apologies to St. Augustine the gist from the release this week of the minutes of the last meeting of the Federal Reserve Open Market Committee (FOMC) was that, yes, inflation is worse than we expected, and yes, we need to raise interest rates and, yes, we need to sell some of our huge portfolio of Treasuries and Mortgage-Backed Securities, and we will …soon…I promise.
“Participants observed that, in light of the current high level of the Federal Reserve’s securities holdings, a significant reduction in the size of the balance sheet would likely be appropriate,” the meeting summary stated.
The minutes show concern about inflation and financial stability though members urged “a measured approach” to tightening monetary policy. FOMC members noted that “inflation was beginning to spread beyond pandemic-affected sectors and into the broader economy.”
No kidding. (more…)
Survey: Sellers Waiting Out Pandemic Are Ready to List
Homeowners have had all the usual reasons to sell over the past two years – marriages, deaths, children, etc. – but many hunkered down during the pandemic, and some feared the housing market because selling might be easy but finding a new home? Not so much.
A survey conducted by HarrisX for realtor.com, however, suggests that many of those people might be planning to list their home in 2022, with 65% of them planning to do so this winter and spring. The survey of 2,583 consumers was conducted online in September-October 2021.
Many sellers, however, want to set an asking price higher than they think their home is worth, and they expect buyer bidding wars.
When will sellers list? (more…)
$10 million plus sales more than double in 2021
High-end home buyers were a tour de force in 2021, and Los Angeles was their shopping destination of choice, according to an inaugural ultra-luxury-focused report from Compass released Wednesday.
Across the U.S. last year, more than 2,300 residential properties priced at $10 million or more changed hands across the 30 major markets the brokerage profiled—more than twice as many deals as in 2020.
Los Angeles took the lion’s share of those trophy-home sales, with 27.3%—or 628—of all $10 million-plus sales occurring in La La Land. Next in line was Manhattan, with 326 transactions, followed by Palm Beach, Florida, with 203.
Across all 30 markets analyzed, more than $40 billion was spent on residential real estate at or above $10 million, the report said, a 138% surge from 2020. (Mansion Global)
Read these recent reports:
Earth to Federal Reserve: What are you waiting for?
Guide to Buying and Selling in Southwest Florida
Naples Year End Market Report by Location and Property Type
Can the Federal Reserve prevent a Recession?
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
Earth to Federal Reserve: What are you waiting for?
As the debate amongst economists continues as to whether the Federal Reserve will raise interest rates 3 times, 5 times or 7 times this year, the Federal Reserve continues to do….nothing.
Giving the market advance warning about changes in monetary policy is an excellent idea, but the lack of flexibility from the Fed is alarming. The Fed has consistently said that its decisions as to the timing of the end of its bond buying program – which has glutted stock and real estate markets with cash – and the start of the “lift-off” in interest rates would be “data dependent.”
Well, my question is this: what data are you seeing Mr. Powell that the rest of us are missing? And by the rest of us I mean professional and award-winning economists – and me..
In March 2021, 11 months ago, Chairman Powell said: “We’re not going to act pre-emptively based on forecasts for the most part, and we’re going to wait to see actual data. And I think it will take people time to adjust to that, and the only way we can really build the credibility of that is by doing it.”
Also in March 2021, I published “Party on, dude” says the Federal Reserve which included: (more…)
Naples Beach 2021 Market Report
Naples Beach covers the area mostly to the East of 41 from Port Royal to Pelican Bay and includes the most expensive real estate in the Naples area in zip codes 34102, 34103 and 34108 (see may below). The market saw significant increases in median prices in 2021. The absence of high end buyers was the reason for the drop in SFH median prices is the second half of the year, with the low inventory causing a sharp drop in sales in Q4. When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years
Guide to Buying and Selling in Southwest Florida
Naples Year End Market Report by Location and Property Type
Can the Federal Reserve prevent a Recession?
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
North Naples 2021 Market Report
North Naples includes the area from Pine Ridge Road to the Lee County boundary just short of Bonita Beach Road and zip codes 34109, 34110 and 34119 (see map below).
The shortage of inventory caused a sharp drop in sales in the second half of the year and, coupled with strong demand, contributed to a jump in the median price per sq.ft.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
Central Naples 2021 Market Report
Central Naples covers the area bounded by David Blvd, Goodlette-Franke, Pine Ridge and Collier Blvd. and includes zip codes 34104, 34105 and 34116 )see map below). The market saw consistent growth throughout 2021 in all categories. Q4 saw significant increases as renewed demand met a reduced supply of properties for sale.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
East Naples 2021 Market Report
East Naples includes the areas to the East of Collier Blvd. in zip codes 34114, 34117, 34120 and 34137 (see may below). The market saw Quarter to Quarter increases throughout 2021.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
South Naples 2021 Market Report
Central Naples covers the area bounded by David Blvd, Goodlette-Franke, Pine Ridge and Collier Blvd.and zip codes 34112 and 34113. The market saw consistent growth throughout 2021 in all categories. Q4 saw significant increases as renewed demand met a reduced supply of properties for sale.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
Sanibel/ Captiva 2021 Market Report
Sanibel Island Beaches are some of the most unique barrier islands of the world, having an east-west orientation when most islands are north-south. Captiva Island is just over a small bridge which crosses at Turner Beach.
Sales, median prices and prices per sq.ft (PSF). all grew strongly in 2021. The drop in the Condo median price from Q3 to Q4 was the result of the mix of sales: the median PSF increased slightly.
When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years.
And read these recent articles:
Guide to Buying and Selling in Southwest Florida
Naples Year End Market Report by Location and Property Type
Can the Federal Reserve prevent a Recession?
Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
Licensed in Massachusetts
www.OliverReportsMA.com
Estero 2021 Market Report
Estero is sandwiched along Florida’s Gulf Coast between Naples to the south and Fort Myers to the north and lays claim to Florida Gulf Coast University and serves as a relaxing destination.
The shortage of inventory, coupled with continuing strong demand, produced higher sales prices and sales price per sq.ft. In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years (more…)
Bonita Springs 2021 Market Report
Known as the “Gateway to the Gulf”, Bonita Springs enjoys the charm of small town living with sprinkles of magnificent upscale communities and businesses.
With extremely low inventory, Q4 saw both a sharp drop in sales and a spike in the sales price per sq. ft. (PSF).
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
Fort Myers Beach 2021 Market Report
Fort Myers Beach sits on a little barrier island, about seven miles long, and the beach is fabulous – wide, gradually sloping, and thick with the area’s justifiably famed sand.
The median SF price increased throughout 2021, especially in Q4, while the median Condo price was stable after the big jump in Q2.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
Fort Myers 2021 Market Report
Fort Myers is a gateway to the Southwest Florida region and a major tourist destination within Florida, served by Southwest Florida International Airport (RSW).
The real estate market saw quarter to quarter growth throughout 2021 and especially in Q4 when limited supply curtailed sales volumes but not prices.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)