Posted on Tuesday, December 09, 2014
One of our new clients from the Boston area made the decision to move to Naples, Florida this year joining a wave of Americans and International Buyers moving to our area. I thought I would write about the bigger picture this morning and describe a significant migration to Florida. There is a lot more going on here than a simple retirement trend. Let’s take a look at some of our findings.
To begin with results Florida will become the third most populated state behind California and Texas in 2015. From its very modest and first population boom just after the Civil War the state has come a long, long way. What is going on here?
First we have the whole baby boomer thing going on and much has already been written about this topic. It is estimated 50,000+ persons retire in the United States every day and some of them move to Florida. All of them change market forces and marketing methods and products, etc, etc. They are a force to understand. Just consider the Hall and Oates concert at Artes last night. Packed, rocking and full of teary eyed boomers spending and whooping it up.
Ok you know about the boomers. What you may not know about the Florida movement is the migration of businesses along with the people. Add names like Amazon (new warehouse in Tampa) or Hertz world headquarters (Naples) to the Florida market.
Oh and there is the whole tax thing. No personal income taxes, no cap gains and a state running a surplus. A surplus with no state income taxes – interesting. We are much maligned as too old or too crazy with our gun laws but remembers this – our model is working and we see businesses and people moving here and a lot of money and spending with them.
Naples, Florida, is one of the in cities in the state seeing an increase in population, businesses and tourism. We are bursting at the seams with tight restaurant reservations, new traffic patterns, with cyclists, runners, swimmers, golfers fisherman, fisherwomen, gardeners, tennis players and more playing in the Florida sunshine.
What does all of this mean for real estate? Scarcity of homes primarily. Our inventory of available property running far below market equilibrium and as a result prices are increasing significantly – something like 18%+ last year and 15%+ this year. New construction is selling quickly and spec home businesses are again blooming. It is estimated 50% of all new homes sold in Naples were built in the last few months. Boom times.
Keep an eye on all properties near the beach. Due to our height limitations through zoning laws Naples needs to look east and north as it grows. Near or on-water property is increasing in value rapidly. Average single family home prices have now gone over $1,000,000 in Old Naples and rents are on the rise attracting more property investors.
Sellers in general are feeling a lot better. Some may still be “under water” if they purchased at the last peak in 2006-7 but in general sellers are re-entering this more attractive market.
Can you still make mistakes as a seller in a seller’s market? Absolutely. Over priced properties in poor condition may still sit on the shelf.
Can you still find places as a buyer? Of course but you better be ready with good search tools, pre-approved financing or cash and a good real estate team like Naples Best Address that can keep you informed and help you search.
Get with our team at NaplesBestAddresses.com and we will help you sort it out. Even though so many people have moved here in recent years there is still plenty of room left for you!
If you would like to know more about living here in Naples, Florida please give us a call at 239.595.3921. We have toured or owned property in Naples for nearly forty years and we are truly fortunate to call this wonderful paradise our full-time home.
Please consider reading our book “Understanding Naples Real Estate” to get you started on your real estate search https://www.naplesbestaddresses.com/offer/ or just give us a call about things to do here.
We look forward to meeting and talking with you soon,
Mark Goebel PA, Nan Goebel PA and David Goebel, PA
Co-Founders of the Naples Best Addresses team
Mark Goebel, PA and Nan Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921 239.595.3920
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. We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier County, The Race For The Cure Citrus Ride, The Seacrest Country Day School and The Naples Winter Wine Festival. Some of the data relating to Naples homes for sale and Naples 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. Contact us to learn more about Naples real estate trends, the florida rental market, Naples design ideas like coastal contemporary and transitional designs or just get a feel for the place like Naples Florida population trends.