Monthly Market Report - May 2010
Neighborhood Snapshot Report - May 2010

This has been a difficult couple of weeks for sure. But we know that this too shall pass – but it can be hell in the hall. I would like to share some interesting news clips that have recently come out regarding Naples, and particularly, Naples real estate.

Up until mid-September, trends were indicating increased sales volume going into our fall buying season. Buyers come to Naples in October to buy their 2nd home. This gives them time to order furnishings and have everything good to go in January. Summer is over and winter is right around the corner. The balmy winter weather here is hard to resist – especially with some great values to be had.

Naples was featured in USA Today as “Your little slice of Paradise Coast.” It was very complimentary of our little slice of paradise – that we attract money that doesn’t shout; yet “it’s also still a place where most home buyers can find something affordable.”

AARP listed Naples as one of the top 10 communities to grow older in.

Then on CNBC, 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.” This is the very same economist who labeled Naples as “the poster child for excess valuation in America” three years ago. To see the interview, go to www.cnbc.com/id/15840232?video=859022956.

And with all the bad news we’ve been bombarded with, there is a bright spot! Really! Habitat for Humanity Collier County Chapter is taking advantage of the foreclosure market and is acquiring homes in need of rehabilitation from the banks in the $80,000 range and plans to resell them for about $130,000 – about $10,000 less than it would cost to purchase one of their new homes. Three years ago, the organization didn’t know where they were going to purchase land in the future because it became so expensive. http://www.naplesnews.com/news/2008/sep/23/groups-plan-buy-homes-repair-and-sell-them-lower-i/

Believe me; I’ll be watching the trends very closely over the next several weeks. If you have an area of interest, golf course properties or gulf-front condos, send me a quick e-mail and I will give you a quick update.

From my conversations with prospective buyers, I’m getting a sense that the “smart money” sees this fall as an opportunity to buy real estate in Naples. I’m cautiously optimistic…