Welcome to Southwest Florida Real Estate and Coastal Properties
Closed sales in all price categories above $300,000 increased by double digits with the $2 million and above price category experiencing the highest increase of 80 percent from 61 sales in the first quarter of 2013 to 110 sales in the first quarter of 2014.
On Bloomberg, Real Estate Consultant John Burns If mortgage rates stay at 3.5% for several years, I believe home prices will skyrocket. Potential home buyers can purchase a 34% more expensive home today than they could at the end of 2008. With supply now dwindling, it is a seller’s market, and price appreciation is only limited by what people can afford to pay every month.
Lesley Deutch of John Burns Real Estate Consulting reports that “Florida is on fire.” Deutch listed five points (we abbreviate):
1 Land Prices are rising rapidly. “In some submarkets, land and finished lot prices have now surpassed peak levels.”
2 Home Prices are rising rapidly. “In markets like Orlando and Naples, new home prices are increasing approximately 1%-2% per month in many communities. Lotteries are back.”
3 The Active Adult market is back. “In Southwest Florida, builders are reporting a 20%-25% increase in traffic and sales over last year (which was a very good year!).”
4 Foreign buyers are helping the market. “Foreign buyers are not limited to the condos in Miami anymore. In Orlando, a large influx of foreign investors-typically paying all cash-have helped the market recover and are driving up demand and prices in the region.”
5 Foreclosures are declining. “Since Florida is a judicial foreclosure state, the time it takes for a foreclosure to occur is considerably longer. But the banks are slowly releasing the foreclosures, and the large number of investors in the state are buying them as quickly as possible.”
Despite all of the current excitement, Deutch believes prices can go much higher as affordability continues to be very favorable to buyers. Even if he is overly optimistic, prices are rising.
In the Naples Collier County market prices continue to rise as inventory stays low. Properties, especially near the beach, are selling faster and closer to the asking price, especially if they have been recently updated. In Bonita Springs and Fort Myers transactions and pending sales continue to rise over past seasons, however, it appears it still might be a buyers market in Lee County.
If you are thinking about buying a vacation home or permanent residence in the Naples-Bonita Springs area then take advantage of my background and experience. I can help find the perfect home at the right value that best meets your lifestyle and budget. My past experience in analysis and negotiations has helped many of my customers find just the right place and stay within their target range.
More than half my customers come from Canada as they have realized that with today’s prices there has never been a better time to look.
When it comes to listing a property the key is to price it right early to meet the current market conditions. My marketing and advertising message is key to your success and my communication skills are second to none.
Take advantage of this website…come back often to search for coastal properties …find the golf courses for you…or locate the best beaches.
Where to Go and What to See
Are you interested in what the current real estate market conditions are?…
Sure you are!!
Again, welcome to www.douglasbrunner.com and if you need to contact me please do and I will respond as quickly as I can.
If you are not enjoying the conditions where you currently are then come to sunny Southwest Florida and take advantage of our sunny days and balmy nights and spectacular weather.