Posted on Wednesday, May 09, 2012
The Hayes Advantage on Bloomberg radio today interviewed and cited several sources calling a bottom to the national real estate market. On the same day Florida Realtor reported significant market improvements and is wondering if “prices are as low as they are going to go”? Florida Realtor goes on to state “Homebuyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say.”
Let’s think about this for a minute. On the plus side we see in Naples, Florida rising prices, decreasing supplies and increasing volumes. All of this follows a nice rebound in the 2011 thank you very much. So far so good – things are going along pretty well.
What could go wrong? Well although the Naples market is improving we still have a shadow inventory problem with many banks considering more foreclosures. We also have a great many Americans “under water” in their homes preventing many people from moving to a new home or city – like snowbirds moving to Naples. Then we have a disturbing employment picture. It is hard to imagine break way real estate markets if disposable income is not there to support it.
What to do? Keep an eye on local statistics. Local markets will vary widely in their recovery pattern. Right now Naples, Florida looks like it could be among the first to bounce back after being an early victim of the real estate crisis. If volumes stay at this level and inventories continue to decrease (as readers of this blog are well aware) then prices should rise.
Stay tuned and make sure your Realtor knows the local market.
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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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