Posted on Monday, May 07, 2012
CNN Money recently ranked Naples, Florida as a top ten real estate turnaround city. Let’s take a look at the facts this morning.
Prices are up a stunning 20%+ since the first of the year following a strong 2011 performance. Volumes are up 14% driving our supply down further. Inventories this morning in the Sunshine MLS are now down to 8.3 months from much higher levels a year ago.
So what are some investment ideas we see in town?
1) Speculative Home Building. We know of vacant land and perhaps a tear down or two – all walking distance to the beach and the shops on 5th avenue where the number on spec home might work. New construction in the 3,000 – 3,500 square foot range seem to sell well in the current market.
2) Buy to Rent. Buy up properties and rent them out. Word on the street is seasonal rentals did well this year and we still have a shortage of annual rentals. With the reluctance or inability to buy and the attractiveness of Naples more and moe folks may be considering renting. Rents on average appear to be rising and home maintenance agreements can take some of the hassles away for the landlord.
3) Foreclosures at Auction. Still active and probably the single greatest source of inventory decreases are our foreclosure sales. You can still find interesting opportunities but beware the “as is” conditions and know your micro markets here.
Run the numbers and have a look down here. We would be happy to help you.
Have a great week everyone!
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 Addresseses – Where The Best Address in Naples Real Estate Is Yours