Homes for Sale in Naples Florida
Home Valuation Code of Conduct Changes Effective May 1, 2009
The Federal Housing Financing Agency’s Home Valuation Code of Conduct (Code, or HVCC) will be effective on May 1, 2009, and will require that the lender order the appraisal. The intent of the Code is to help ensure that borrowers, homebuyers and secondary mortgage market investors receive fair and independent property valuations.
The graphical presentation of condos for sale in the Naples area shows; at the close of business on March 31st or the opening of business on April 1st, there were a total of 5228 condos for sale in the Naples area. In March 2008, there were a total of 5586. Between the years, there has been a reduction of approximately 358 condos for sale or about 6 percent.
The condos for sale at the end of February or the opening of business on March 1st was 5207. An increase from the end of February to the end of March was an increase of 21 condos.
During the month of April the end of “the season” occurs. As time moves forward the number of condominiums for sale may show a reduction in the number for sale as represented in the graph below, for the months of April to November in 2008.
Condos for Sale in Naples - February 2008 to March 2009
The number of available condos for sale, is one component for the calculation of months of condos available for sale. The other component is the average closed sales for the immediate past 12 months. It would appear at this time the months of inventory of condos for sale should be lower than it was in February.
Other factors influencing the condo market in addition to closed sales are pending sales. Pending sales reduce the number of available condos.
Naples Homes For Sale - February 2008 to March 2009
As of the end of March 2009, there were a total of 5,197 homes for sale in the Naples area. Compared with March 2008 there was a reduction of 819 homes or about 14 percent. This also represents a reduction in available homes for sale from February of 100 homes.
The number of active listings is determined on April 1st based upon the close of business on March 31st.
After the 5th business day of April an analysis of the months of homes for sale inventory will be posted on this blog for prospective buyers and sellers.