Don't look now, but those with a net worth of more than $1 million who may have gotten burned in the stock market are starting to get interested in one of the most basic of investments-real estate.
That's according to a recent Spectrum Group newsletter, Millionaire's Corner. Nearly 20% of high-net worth investors consider real estate a good investment and plan to buy more in the future, says Spectrem Group, a Chicago-based market research and consulting firm specializing in the affluent market. Moreover, a full 34% of millionaires between 25 and 45 are intrigued by real estate. The research came from online quanititative studies of more than 750 millionaires and focus groups in five cities conducted last fall.
The millionaires reported that since they don't know when the stock market is going to recover and with interest rates so low and real estate so depressed, "a lot of the people said they thought real estate looked interesting," George Walper Jr., president of Spectrum Group, told Barron's. He said the finding was consistent with research in a book he co-authored with Catherine McBreen, Get Rich, Stay Rich, Pass It On.
While the millionaires didn't specify the type of real estate they'd look at, Walper said he believes people are interested in income-producing properties like small apartment buildings or strip malls. That would be in keeping with activity by one supremely savvy investor- Warren Bufett's No. 2, Charlie Munger- who is said to be investing in a shopping center in California.
Source: Barron's, Jan. 26, 2009
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Showing posts with label olde naples luxury real estate. Show all posts
Showing posts with label olde naples luxury real estate. Show all posts
Saturday, January 24, 2009
Tuesday, November 4, 2008
Olde Naples Real Estate - Closed Sales Info
Olde Naples October 2008, Closed Sale information: Homes $1,000,000 and up.
Active 235
Pending 9
Closed 3
Source: SunshineMLS, Inc.
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Active 235
Pending 9
Closed 3
Source: SunshineMLS, Inc.
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Contact Larry & Mary Catherine White, Naples FL Beachfront Property Specialists
Info@NaplesLuxuryEstates.com
Saturday, October 25, 2008
Sales of existing homes across U.S. up in September
Sales of existing homes rose by the largest amount in more than five years in September, a real estate trade group said Friday. The data is a possible glimmer of hope that the housing slump could be starting to bottom out.
The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.
Lawrence Yun, chief economist for the Realtors, said a sales turnaround first seen in California was beginning to broaden to other regions of the country including Colorado, Kansas, Minnesota, Missouri and Rhode Island.
The rise in September sales pushed activity to a seasonally adjusted annual rate of 5.18 million units last month. Sales were up 9.6 percent on a year-over-year basis before adjusting for seasonal changes.
By region of the country, sales soared by 16.8 percent in the West and rose a more moderate 4.4 percent in the Midwest and 2.2 percent in the South. The only region of the country which saw a decline was the Northeast, where sales fell by 1.1 percent.
Source: naplesnews.com
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The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.
Lawrence Yun, chief economist for the Realtors, said a sales turnaround first seen in California was beginning to broaden to other regions of the country including Colorado, Kansas, Minnesota, Missouri and Rhode Island.
The rise in September sales pushed activity to a seasonally adjusted annual rate of 5.18 million units last month. Sales were up 9.6 percent on a year-over-year basis before adjusting for seasonal changes.
By region of the country, sales soared by 16.8 percent in the West and rose a more moderate 4.4 percent in the Midwest and 2.2 percent in the South. The only region of the country which saw a decline was the Northeast, where sales fell by 1.1 percent.
Source: naplesnews.com
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Friday, June 20, 2008
Naples City Council members agree to hire consultant to direct downtown development
Heart of Naples, D Downtown, the Community Redevelopment Agency, two consultants’ reports — all vehicles in the past decade and a half to improve the core of Naples. But Naples City Council isn’t satisfied.
On Monday, the mayor and council members agreed unanimously to hire a consultant to develop a “vision” for the downtown area, rather than design it themselves along with city staff.
They also established the boundaries for the areas that would be taken into consideration by the consultant: the Community Redevelopment Agency, Third Street, Crayton Cove, D Downtown, and Tin City, as well as the U.S. 41 corridor from Fifth Avenue South to Seventh Avenue South.
Several council members expressed dismay over the current state of Fifth Avenue South.
“My personal feeling is that something needs to be done to direct the development of Fifth Avenue because it could have evolved better than what’s turned out now,” Councilman Bill Willkomm said.
“We have so many different organizations on Fifth Avenue (South) alone, so many hands pulling that street in different directions, that it has lost its vision,” Councilwoman Dee Sulick echoed.
In 1994, and again in 2004, the City Council brought in the Miami-based husband and wife team of architects and urban planners Andrés Duany and Elizabeth Plater-Zyberk to make recommendations for improvements to Fifth Avenue South.
The consultants met with shop owners and stakeholders; they suggested improvements from landscaping to the mix of storefronts at the east and west ends; they were the impetus behind the first multistory parking garage on Fifth Avenue South.
There was also mention at the meeting of increased rent driving longtime tenants out.
“If anything, our mix has deteriorated, We’ve lost our grocery store. We’ve lost our pharmacy. I think we’ve gone the wrong way,” said Councilman John Sorey, who unsuccessfully pushed to include Venetian Village into the new visioning scope.
“When I read Duany’s report, I lamented what it was and what it could have been and where it is right now. Not necessarily the quality of the restaurants, but that there’s such a proliferation,” Vice Mayor Penny Taylor said.
“But remember, the buck stops with us. We’re the ones that approved these variances of 500 feet for liquor licenses, and we do it again and again because the quality establishments want to establish themselves.”
Despite initial hesitation from Taylor and Sulick, and Councilwoman Teresa Heitmann, the three ultimately contributed to the unanimous vote in favor of hiring an external consultant to develop the new vision.
Mayor Bill Barnett asked City Manager Bill Moss to present options for consultants to the City Council.
Duany’s name was thrown into the ring as a possibility, however no decisions have been made.
Jim Goehler, director of the Downtown Naples Association, attended the City Council meeting and said he endorses the decision. Goehler is also the chief operating officer and chief financial officer of the Greater Naples Chamber of Commerce.
“The important thing is, everyone wants to keep the uniqueness of Naples (in that area),” Goehler said. “And I don’t think we’re far off.”
Source: Naplesnews.com
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View Olde Naples Luxury Homes for Sale
Info@NaplesLuxuryEstates.com
On Monday, the mayor and council members agreed unanimously to hire a consultant to develop a “vision” for the downtown area, rather than design it themselves along with city staff.
They also established the boundaries for the areas that would be taken into consideration by the consultant: the Community Redevelopment Agency, Third Street, Crayton Cove, D Downtown, and Tin City, as well as the U.S. 41 corridor from Fifth Avenue South to Seventh Avenue South.
Several council members expressed dismay over the current state of Fifth Avenue South.
“My personal feeling is that something needs to be done to direct the development of Fifth Avenue because it could have evolved better than what’s turned out now,” Councilman Bill Willkomm said.
“We have so many different organizations on Fifth Avenue (South) alone, so many hands pulling that street in different directions, that it has lost its vision,” Councilwoman Dee Sulick echoed.
In 1994, and again in 2004, the City Council brought in the Miami-based husband and wife team of architects and urban planners Andrés Duany and Elizabeth Plater-Zyberk to make recommendations for improvements to Fifth Avenue South.
The consultants met with shop owners and stakeholders; they suggested improvements from landscaping to the mix of storefronts at the east and west ends; they were the impetus behind the first multistory parking garage on Fifth Avenue South.
There was also mention at the meeting of increased rent driving longtime tenants out.
“If anything, our mix has deteriorated, We’ve lost our grocery store. We’ve lost our pharmacy. I think we’ve gone the wrong way,” said Councilman John Sorey, who unsuccessfully pushed to include Venetian Village into the new visioning scope.
“When I read Duany’s report, I lamented what it was and what it could have been and where it is right now. Not necessarily the quality of the restaurants, but that there’s such a proliferation,” Vice Mayor Penny Taylor said.
“But remember, the buck stops with us. We’re the ones that approved these variances of 500 feet for liquor licenses, and we do it again and again because the quality establishments want to establish themselves.”
Despite initial hesitation from Taylor and Sulick, and Councilwoman Teresa Heitmann, the three ultimately contributed to the unanimous vote in favor of hiring an external consultant to develop the new vision.
Mayor Bill Barnett asked City Manager Bill Moss to present options for consultants to the City Council.
Duany’s name was thrown into the ring as a possibility, however no decisions have been made.
Jim Goehler, director of the Downtown Naples Association, attended the City Council meeting and said he endorses the decision. Goehler is also the chief operating officer and chief financial officer of the Greater Naples Chamber of Commerce.
“The important thing is, everyone wants to keep the uniqueness of Naples (in that area),” Goehler said. “And I don’t think we’re far off.”
Source: Naplesnews.com
Contact Larry & Mary Catherine Olde Naples Luxury Specialists
View Olde Naples Luxury Homes for Sale
Info@NaplesLuxuryEstates.com
Wednesday, June 4, 2008
Olde Naples - Home Sales Report
Olde Naples 12 Month Home Sale Report: Homes over $1,000,000
181 Active
7 Active with Contract
10 Pending
45 Closed
Closed Sale Information:
Search Olde Naples Luxury Homes for Sale now
Contact Larry & Mary Catherine White, Naples FL Luxury Specialists
LWhite@AmerivestRealty.com
Source: SunshineMLS, Inc.
181 Active
7 Active with Contract
10 Pending
45 Closed
Closed Sale Information:
# of Bedrooms | # of Closed | Average Sold Price |
| 2 or Less | 6 | $2,479,166 |
3 | 18 | $1,848,444 |
4 | 17 | $2,609,786 |
5 | 3 | $2,781,666 |
6 or More | 1 | $5,525,000 |
Search Olde Naples Luxury Homes for Sale now
Contact Larry & Mary Catherine White, Naples FL Luxury Specialists
LWhite@AmerivestRealty.com
Source: SunshineMLS, Inc.
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