Posted on Monday, October 08, 2012
I am reminded of the old yarn where it is well known one can drown in a lake who’s average depth is an inch. Averages. Beware of them.
In one such “lake” CNBC reported two days ago on the national averages in US real estate. they reported “As the inventory of unsold U.S. homes drops to a more manageable level, the U.S. housing industry is inching closer to a compete rebound, BlackRock CEO Larry Fink told Maria Bartiromo in an interview on CNBC’s “Closing Bell … The fundamentals for the U.S. economy are quite strong,’ Fink said. We’re about a year away from a full rebound in American housing.’”
The article is a good one and all about national average data again – good news, but real estate is local and you need to know your local markets. Some of the first markets to decline a few years ago were the first to pop back up. Other markets still struggle today. The national averages are good but you need to know the area around you.
In Naples, Florida we started seeing a real turnaround 18-24 month ago. Our inventories are under seven months and real estate is getting back to normal. We are not in the go-go days of rapid price increases but the market is stable again.
As I shared with a friend yesterday we do have some remaining soft spots. High end single family homes with Gulf of Mexico views are selling slowly (although beautiful) while the lower end condo market has done very well. Some developments like Lely sold well even in the tough times while other developments struggled.
Give us a call and we will help sort out the local market for the properties YOU are interested in – and do not hang your hat on national data.
Follow along with us on National And Naples Florida real estate and register at NaplesBestAddresses.com and subscribing to our YouTube channel at http://www.youtube.com/user/naplesbestaddresses?feature=results_main. Contact us at 239.595.3921.
All the best
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 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main