Posted on Thursday, August 02, 2012
August in Naples is a warm and sunny place. And surprisingly busy for the “off season”. Tourism numbers are up, traffic is steady but yes, you can walk into all your favorite restaurants without a reservation. Ah, Naples in the summer time.
Speaking of busy, we had appointments with five different sets of clients and wrote a full price offer for one of our listings in a single day – a personal best for us and a sign summer real estate is busier than you might think.
Naples Market Update
In brief, supply is down to an amazing 7.2 months supporting prices and making those “good deals” fly off the shelf. Prices have climbed since the first of the year, and volumes are good. The big boys of commercial development are back in town and two new deal were announced this week – one planning to build 1500 + homes.
We would like to pass on a You Tube video regarding the Naples market from the Naples Board of Realtors which we believe gives you a good outline of our market. Enjoy!
August 2012 – 2nd Qtr Market Report
Investment Firms Are Buying Up Rentals
Rents are clearly rising in Naples due to a number of factors. Some folks do not trust the market yet so they are renting before buying. Some are new to Naples and wish to rent and get a feel for the place. Some cannot sell that up north place yet and plan to rent until they do. And there are numerous reports private investors are buying up rental properties for a source of income.
On July 24, 2012 Fortune Magazine reported ” … the private equity firm Blackstone Group in the past year has bought up 2,000 single-family homes at about $300 million. Fortune Magazine calls it “one of the biggest piles of homes ever intentionally put together by an institutional investor.”
Interesting, If you would like to talk about this some more just let us know.
On average 21% of Naples buyers are international buyers (source: Coldwell Banker). This is exactly why we like the international reach of NaplesBestAddresses.com and the some 500 websites we network through with Coldwell Banker.
We first thought Europeans would view Naples as a “safe haven” and be more willing to buy Naples real estate. Although we have seen some of this we are not so sure anymore. Europe’s challenges may be a headwind for us here in the next twelve months, but fear not 90% of the 21% International buyers (yep, for you math inclined folks that is about 18% of the total Naples market) are still holding strong. According to Michael Peltier at News Service of Florida “One bright exception is Canada. Taking advantage of lower gas prices, the flow of Canadians to Florida could increase nearly 6 percent by the end of 2013, the economists predict. The rebound would be welcome. Canadian tourism dropped 11.4 percent during the first three months of 2012 largely due to high gas prices.
And Don’t Forget The Lifestyle
It is COOLER here in Naples than “up north” many days. The same restaurants you love are waiting for you without reservations. traffic is easier, a lot easier. Mark is finding great fishing in the back country. Golf course reciprocity programs means “take your pick” across maybe 30-35 different courses. Come on down for a weekend and surprise yourself how year round living might work here.
All the best,
Nan Goebel, PA
Coldwell Banker RE
Mark Goebel, PA
Coldwell Banker Real Estate
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
Naples Best Address – Where The Best Address in Naples Real Estate Is Yours