Posted on Monday, April 30, 2012
Followers of the blog will know of Naples’ top ten ranking in a recent CNN money study regarding real estate turnarounds. Let’s take a look this morning at the real estate market here in Naples and why we are seeing the turnaround – and why it may attract more investors.
1) Inventory, Inventory, Inventory. The old demand-supply forces are hard at work here in Naples with property inventories now below nine months – a big drop from two years ago and headed lower. This should help support prices.
2) Price. Up 20%+ in the first three months of 2012 according to the Sunshine MLS for the all Naples area. Wow – that is an eye catcher and worthy of a look.
3) Spec Building. Anecdotal evidence only here but a drive by in Olde Naples again yesterday after church shows project after project popping up again.
4) The Big Boys. Commercial developers making recent announcements regarding new properties like Sable Bay with 2,000+ units.
5) Their Back. Rumors on the street of buyers with multiple investment properties from foreclosure-flippers, buy-rent or just plain buy and hold out there.
All of this is not without risk as we all should know by now. Will the Naples real estate turnaround hold? We will see. We are entering the off season for tourism and rumors abound nationwide of banks starting to step up foreclosures (think increased supply) again.
Give us a call or email and we will be pleased to talk about on-the-ground views of the market here and what we are seeing – and most of all, have a great week.
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No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
Email: mark.c.goebel@gmail.com
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