Bucking the Trend
The world is crashing down around our ears, nobody has a job or any money, politicians look so serious and say ‘Crisis’ in every sound bite. Sound familiar? Doom and gloom is the byword for today’s media. Everything is broken and the end is not in sight. That light at the end of the tunnel are the headlights of the repo man coming to get you.
Or so you are led to believe.
The Naples real estate market is bucking the trend. Yes properties are worth less, and selling for less. Yes some people have lost their homes already, which is not a good thing. But. The news about the Stimulus Bill is waking people up and giving them hope. The Sun is still shining, and it’s still warm outside. More houses are selling this year than last year. House sales are up around 10% like for like in February 2009 than the figures for February 2008. Sales are up, viewings are up, and now so are the values. Property prices are now beginning to bounce back from the slump of last year.
Real estate sales figures from mid November 2008 to the present indicate an increase in value of up to 15% on some properties. They are still worth generally less than they were in 2007, but upwards is a good direction to be moving!
Currently the biggest sellers are family homes under $300,000. They are selling disproportionately well compared to condos. The biggest sellers are foreclosures. Mainly concentrated in workforce communities like Golden Gate City where sales have been slowly gaining pace because of the affordability of housing there.
The real estate agents in the area are getting busier by the day. If you want to bag yourself a bargain, as a main or second home you had better get moving otherwise you are going to lose out!
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