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.
This resulted in Low Inventory:
- Listed homes sell quickly - Average days on the market down 11%
- Foreclosures and Short Sales at the lowest level...Ever!
All of these point to Higher Prices:
- Naples home prices are higher - Up 17% from last year
Is Now a Good Time to Buy? YES!
- Prices are higher than last year but remain far below peak year prices.
- As baby boomers continue to enter part and full time retirement in larger numbers, Naples real estate professionals will have to contend with inventory scarcity more than any other factor.
Conclusion: Buyers have confidence that their equity is protected and are confident about future gains.
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.
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....
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. :(
Premiere Plus Realty
Elton Alikaj, P.A.
Luxury Real Estate Advisor, REALTORÂ® - Engel&VÃ¶lkers International Real Estate, Naples and Marco Island, Florida.
+1 (239) 821-7242
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
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
Florida Buyer Broker
1-800-283-7393 US and Canada
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.