Posted on Monday, November 14, 2011
We are awaiting the October month end NABOR (Naples Board of REALTORS) data this week but inventories again seem to be headed in the right direction. 9.18 months is well below the one year equilibrium REALTORS speak of and we should have good price supports at this level.
We grew concerned as we saw from McClatchy-Tribune Business News (Distributed by MCT Information Services) this past week that “More than half of Florida homeowners in foreclosure have not made a mortgage payment in two years or more. That’s higher than the national average …” In addition the news feed goes on to say “A new report from Jacksonville-based LPS Applied Analytics found that as of September, 56 percent of Florida’s mortgages in foreclosure are 24 months or more behind in payments, compared with 39 percent nationwide.”
Foreclosures are something to watch but at this point demand is keeping up and pushing inventory low. As long as inventories stay under one year we like the market in general.
As we previously reported inventory positions vary widely in Naples real estate so you need to watch individual neighborhoods. We have some areas under six months and others well over a year so we expect price movements to differ widely by area. When you are ready just ask us and we will help you sort it out.
Have a great week and tell us what you think.
No legal advice or suggestions are being given in this Blog and the writing 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