Posted on Wednesday, December 14, 2011
People ask me everyday – how is real estate going? Just yesterday I was in a committee meeting helping out a non-profit and was asked my views on local real estate. After giving my current thirty second positive view of price increases and favorable supply demand trends I looked around the room and saw that “Really?” look. You know the look you get when people do not quite believe what they just heard. It is also the look where people want to believe but too many other negative things are on their minds. The facts are there to support a more positive outlook on Naples real estate but our current conscious state after living through tough times makes things less clear.
I am reminded of the old Drag Net show (wow, dating myself now) where the detective would always say “Just the facts Mam.” In these times you need to be your own economic, political, and personal analyst. We are overwhelmed by information, a lot of it negative as I think negative stories play to selling newspapers or attracting eyeballs to websites. You, yes that means you, need to make up your own mind. So get the facts and make your own conclusions.
For a good example of giving us facts we can really use, Erica Cross, real estate research analyst at Florida Realtors wrote yesterday “Even experts outside the industry agree that Florida should have positive growth in 2012. While Florida employment growth has been weak and its recovery sluggish, Mark Vitner, senior economist at Wells Fargo, also had encouraging remarks on the state. He pinpointed tourism and healthcare as leaders in the employment recovery. International visitors to Florida’s many vacation destinations have boosted tourism, while concurrently stepping up as investors in the state’s housing market. Vitner indicated specific areas in the state where prices have bottomed-out and employment has turned around.”
If you are buying or selling Naples real estate be sure to get the facts. Why? Well if supply is dropping in your favorite neighborhood and you are a buyer, or if prices are rising in your favorite neighborhood and you are a buyer, you may not want to be overly influenced by negative economic headlines in place of facts and miss your best address. Get the facts and make up your mind. Same for the sellers. You want to avoid following the market down with repeated and modest price reductions which may be late each time they are made as the market moves further down. Get the facts on comparable properties, learn what similar properties are really selling for, and forget what you paid for the place. Get the facts and get after it.
So in our view, yes, the Naples real estate market is improving. In general, supply is down, demand is flat and trailing prices are up – for now. Good stuff and a lot better than in recent years. Call us, email us, and we will help give you the facts so you can make up your own mind and make your own informed decisions.
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. 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
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