Homes for Sale in Naples Florida
2820 Crayton Road Naples
Just Listed! 2820 Crayton Road MLS#209033393 – The Moorings
This is a great opportunity to invest in a Moorings home. Golf course view and private beach access….More
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The Naples real estate market for homes is starting to show signs of strengthening in many aspects and prospective buyers should be aware of the positive changes. The statistics presented and discussed below are global in nature for the Naples area and do not represent the more important micro-market views which can vary greatly between the North Naples, Naples West, Naples Central, Naples South, Pelican Bay, Pelican Marsh, The Vineyards and Golden Gate Estates areas. [Read more...]
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.
On September 19, CNBC did a story on the “Finding Housing’s Market Basement” where Richard Dekaser, a senior vice president and chief economist at National City Corp., singled out Naples in talking about the “first rays of sunshine on a possible end to the housing crisis.”
“Three years ago, the poster child for excess valuation in America was Naples, Florida,” he said.
Not anymore. Through the second quarter of this year, prices have dropped 33 percent, he said, leading him to judge the market as “slightly undervalued.” That means home prices are actually lower than where they should be.
Although I have not agreed with Mr. Dekaser in the past regarding, due largely to the methodology used in evaluating Naples overvaluation, I do have to agree with him at this time – to a point. Where I differ with Mr. Dekaser is that the Naples real estate market has gone through significant valuation adjustments and just might be undervalued to such a point where prospective buyers might be missing some excellent purchase opportunities.
In order to better understand the Naples area real estate market it is best to break down the market into an overview of single family homes and [Read more...]
Prior to presenting the analysis for August we need to reflect on the events which took place last August 15 – the sub-prime and liberal loan programs came to a screaming halt along with liquidity issues for lenders lasting for a couple of months. The result was a further weakening of already weak real estate market. Sub-prime and liberal loan programs accounted for about 16 percent of the purchases which had taken place previous to August 2007.
Going forward the monthly statistics will bear monitoring to assess the strengthening or weakening of the of the Naples home market.
Strengthening does not necessarily mean price appreciation, but takes into effect a lower volume of new listings (even though it is anticipated more listings will come on the market due to seasonal fluctuations), pending sales increasing, and closed sales over the previous year.
Weakening of the market will reflect just the opposite.
Another consideration to be explored is how developments or subdivisions where subprime borrowing took place may affect the overall performance statistics for the overall Naples home market, and leaving both sellers and buyers with what could be incorrect perceptions. An example of this is being seen in the drastic decline of the median price paid for homes during the month August in the year over year analysis; however, after excluding some developments or subdivisions the median price decline is not quite so drastic. Proving once again that real estate is so local that it has to be looked very closely. [Read more...]