Posted on Friday, March 16, 2012
Yesterday in a meeting with friends in Naples I was asked how real estate is doing. These days my answer begins with the good news of reduced inventories – you know, lower inventory means lower supply and with equal or better demand prices tend to be in good shape.
I took another look this morning at the Sunshine MLS for All Naples data and sure enough inventory is holding at 9.18 months. If volumes continue to hold against this relatively low supply we could be in for another good year.
One reason for the reduction in supply is the buy up of foreclosed homes. Banks are better at the foreclosure process and real estate investors seem to be returning to the market. Consider this report from Florida Realtors regarding the reduction of government owned properties:
“The government was able to chip away at its foreclosure inventory in 2011, reducing it by nearly half, according to a HousingWire analysis of financial statements from three government enterprises. From the end of 2010 to 2011, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development saw a 49 percent reduction in the number of REO properties owned. The three government enterprises held about 150,700 properties on Dec. 31, 2011, compared to 296,000 at the end of 2010.”
As reported earlier in the blog results differ neighborhood by neighborhood, building by building, so get with a Realtor and understand how supply and demand facts can help your pricing and bidding strategies.
The short story here is Naples real estate is on a nice run. A run fueled by reduced supply and nice volume. 2012 could be a nice extension to the price increases and Naples real estate activity we saw in 2011.
Have a great day today and look forward to a possible positive Naples real estate year.
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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.
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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