Market Conditions in 34102>Question Details

Jeannette P.…, Real Estate Pro in 34102

Why is there such a large reduction of inventory in the naples, Florida market?

Asked by Jeannette P. Batten, 34102 Mon Sep 10, 2012

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Elton Alikaj, P.A.’s answer
Naples lifestyle is what attracts discerning buyers from all over the world. Resort-style living communities, world class dining and pristine white sandy beaches are unmatched and rank Naples as one of the most desired places to buy properties and retire.

Elton Alikaj, P.A.

Luxury Real Estate Advisor, REALTOR® - Engel&Völkers International Real Estate, Naples and Marco Island, Florida.

+1 (239) 821-7242
Elton.Alikaj@EngelVoelkers.com
0 votes Thank Flag Link Fri Mar 8, 2013
Thanks to its unique shape, the Sunshine State offers a whole lot more than just sunshine. People who live here also get plenty of sea breezes, humidity, and temperatures that are never too hot or too cold and so it keeps attracting new people.
Florida is also a favorite tourist destination, these factors have led to high demand for housing and investors moved in to cash in on the high rents leading to a large reduction in inventory.
0 votes Thank Flag Link Mon Jun 10, 2013
There's one thing for certain about Florida population growth. Even during the darkest days of our economic meltdown Florida saw an average of 1,000 people moving into the state daily. This has remained fairly constant and appears to be impacting housing inventories across the state.

Bill
0 votes Thank Flag Link Sat Jun 8, 2013
Jeanette,
There are a lot more people moving to Florida now. It seems the weather up north has gotten worse over the past few years, the price of purchasing a home are at there lowest along with the interest rates. Remember, there is only so much warm weather in the US, and it's mostly here in Florida.

Gregory A. Schmidt PA.
Premiere Plus Realty Co.
239-465-2761 Mobile
0 votes Thank Flag Link Sat Jun 8, 2013
Hi Jeannette, I wanted to add to your answer: In my opinion I have seen so many new families moving to Naples in the last two years because of the Warm Sunshine with the enjoyment of those white sandy beaches .

I interviewed my local neighbor's just the other day at a local 6 year olds birthday party and I asked the host why she moved here to Naples?

Her answer was: they came to Naples ten years ago to visit the beaches then ended up at the Disney theme park which drove them to make the decision to move to Naples two years after their visit here. You see if you look through the eyes of a six year today who lives in our Beautiful city this is what you see and what you might hear.

Can we please go to the beach today, can we please go to he Zoo today, "oh Nana" can we please go to the mall and ride the merry go round... Need I say more... Did you know that Collier County has a free zoo day for Collier County Residents on the first Saturday of each Month.

So, what are you waiting for come on down....

Take Care
Vivian Lone
http://www.foreclosurenaplesflorida.com
239-438-6983
Vanderbilt Realtors
0 votes Thank Flag Link Sat Jun 8, 2013
I know this question is a few months old, but I'd like to put in my 2 cents: Its fine to say that inventory is low because Naples is a wonderful place, but it was a wonderful place 4 years ago when inventory was over 12000. The heart of the situation is a nexus of extremely low interest rates, an economic recovery which while anemic is still being deemed a recovery, and the fact that we bottomed out in 2010.

A bottom is something you can't see for sure until after its gone past, so people now see properties rising in value, money is cheap, and the economy at least isn't threatening to immediately self-distruct. That's the buyer perspective.

From the seller perspective, they're seeing their property values going up 10 per cent year over year and wondering why they should sell now when they can hold tight and get more later. So, buyers are buying, potential sellers are sitting tight on their percieved pot-o-gold, and inventory is dropping like a stone. Of course, I've no more notion than anyone when this cycle will end, but your question is 9 months old, and the inventory situation has only become more severe. I've got buyers who can't find properties they like in their price point. :(

Mark Tyler
Premiere Plus Realty
239-285-1133
0 votes Thank Flag Link Fri Jun 7, 2013
Buyers have seen the values out there and know it was time to act...as inventory gets smaller...prices will go up...KathyBC 800-448-3411 x 601...(6/1)
0 votes Thank Flag Link Sat Jun 1, 2013
As a followup to my previous response, my primary residence is now under contract, and I can witness from the BUYERS' perspective, you can believe that inventory for single family homes West of 41 is extremely low!
0 votes Thank Flag Link Fri May 31, 2013
Please feel free to visit our Blog on Wordpress *Florida & Real Estate* with a mix of NEWS about the recovering Real Estate Market in Naples and Pictures about living in Florida.
http://floridaandrealestate.wordpress.com/
0 votes Thank Flag Link Fri May 31, 2013
There is no place like Naples...
Web Reference: http://www.NaplesHomes.com
0 votes Thank Flag Link Mon Feb 11, 2013
This question is simply answered. Naples is the Crown Jewel of Florida!
0 votes Thank Flag Link Sat Feb 9, 2013
Answer on 9/21; high buyer demand drove the fall maket an good properties sold; best fall market in years! KathyBC 800-448-3411 x 601....2/5.
0 votes Thank Flag Link Tue Feb 5, 2013
I have lived a good number of places around the world because my father was in the Air Force. In 1965 my family moved to Florida. I have lived in several different parts of Florida and traveled most of the State. Naples is as close to paradise that anyone could expect to be in the US. There is only one stop left from here and that's called Heaven!

There is important information for all prospective buyers on my homepage at http://www.FloridaBuyerBroker.com including:

The #1 Mistake Buyers Make
Toxic Chinese Drywall
Buyer Beware

And much more, there is no login requirement to obtain the information regarding these topics and others.

You will also find links to obtain an account to access the true Naples MLS data base for listings.

The most important thing a buyer can do is first of all work with a buyer broker. As stated by AARP and The Consumer Federation of America from REALTOR NEWS.

Beverly Howe, ABR, GRI, TRC, CIPS
The Original
Florida Buyer Broker
1-800-283-7393 US and Canada
broker@floridabuyerbroker.com
0 votes Thank Flag Link Mon Feb 4, 2013
Sold, baby, sold and people are holding off for now...maybe as season is upon up will those holding off begin listing. KathyBC 800-448-3411 ext 601. (9/21)
0 votes Thank Flag Link Fri Sep 21, 2012
The reduction in inventory in Naples reflects higher sales compared with 2011, relatively lower additions in resale homes and modest additions by builders. Still, good values are readily available across a wide range of price points.

Concern is not yet fully developed with respect to inflation in the US, but the day is coming when both real assets (such as real estate) and intangible assets (such as stocks and bonds) will be valued based on concerns that include the purchasing power of the dollar.

You can ignore the natural beauty of Naples and the advantage Naples enjoys with respect to property taxes (relative to more than 90% of other counties in Florida and most states away from Florida), but doing so may leave you wishing you had acted while the availability of attractively priced homes was still high despite recent reductions in inventory.
0 votes Thank Flag Link Wed Sep 19, 2012
Because the buyers who always wanted to live and buy in our beautiful area are realizing that NOW is the best time to buy here. We've been the brunt of all the bad news for months...Well, guess what? SW Florida properties are inexpensive and going quickly! Inventory is very low. Buyers interests are High. Come on down.
0 votes Thank Flag Link Wed Sep 12, 2012
Love the area! Bought in Naples myself a couple of years ago.
Planning to buy more in time :-)

Vinden Grace
Real-estate Coach / Mentor
http://www.PropertyPartnersAndMentors.com
Flag Fri Sep 14, 2012
Read the NABOR news and local newspaper...supply and demand. Demand increasing, supply greatly depleated in the last year.
0 votes Thank Flag Link Tue Sep 11, 2012
The entire southwest Florida region including Naples, Ft. Myers, Punta Gorda, Port Charlotte, North Port, Venice, and Sarasota have seen a serious reduction in their inventories. The result of which has come from buyer confidence, interest rates, and accepting that the market has truly reached the bottom.

Respectfully,

Bill
0 votes Thank Flag Link Tue Sep 11, 2012
Because people saw what bargains were available and scooped them up before prices start to escalate. Inventory down, means prices will start to go up!
0 votes Thank Flag Link Tue Sep 11, 2012
The law of supply and demand, look what you can purchase for approximately 1/2 of what you were paying a few years ago. People really should start looking at the Self Directed IRS's to purchase the few remaining great deals out there.
0 votes Thank Flag Link Mon Sep 10, 2012
Many people have been coming to Naples in the last few years and now know that the oportinity to get a great deal is disappering and they are scrambling to get in on the bargains. Demand is the biggest reason. Forclosures that are bargains only last a week on the market. You can call me at 239-825-5217 if you have specific questions.
0 votes Thank Flag Link Mon Sep 10, 2012
The market has definitely taken a turn (for the better) here. I've personally had more sales this summer than during "season" and it has become more and more difficult to find good properties that fit customers criteria. In particular, single family homes below $300,000 are in high demand. Homes are selling and they're selling quickly when they are priced at market value.
0 votes Thank Flag Link Mon Sep 10, 2012
Now might be a good time to buy a new home to order. The vacant lot supply is large in planned communities, close in in-fill and golden gate estates.
0 votes Thank Flag Link Mon Sep 10, 2012
Because people are buying homes....and less people are selling them.....sellers think waiting will now fetch them more money.


jessemcgreevy@gmail.com
239-898-5329
http://www.Domain-RealtyGroup.com
0 votes Thank Flag Link Mon Sep 10, 2012
The Market Action Index has been trending lower for several weeks ( down 18.4) while prices have remained relatively stable. However, days on market is climbing. Median price in Naples this week is $489,000.
0 votes Thank Flag Link Mon Sep 10, 2012
You are correct that inventory is tight here. http://www.naplesrealestateguys.com/blog/moorings-beach-home…
0 votes Thank Flag Link Mon Sep 10, 2012
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