Should you buy in Naples Now? That is the question.

The last several months our past clients, potential prospects and friends have been asking us if it is a good time to buy in Naples. Without sounding like a salesman I have to say "Yes" with a an exception or two.

If you are purchasing a home or condo to use for yourself or family it is by all means a great time to buy! There is plenty of inventory available and prices are down to 2001 & 2002 levels in certain areas. Not to mention that mortgage rates are tracking between 4.875% and 5.25%. The lenders are going to require at least 20% down in most cases but rates are fabulous.

Now, if you are an investor looking to get in the market and make a quick buck I don't think it's a good time to buy. I just don't see the appreciate coming back that fast for the quick buck, no surprise there eh! Although, if you have the ability to carry the costs or some portion of them (depending on the property you buy) I believe now is a great time to buy a rental property. For the same reason as above, lots of inventory and choices. In addition, some people cannot be financed today for various reasons but still need a place to live. So for them buying isn't an option at this time. But maybe you can put them in your property and do a rent to own deal with them. A win-win for both parties!

There are some really really inexpensive condos out there but just make sure the associations are financially sound! You maybe able to pick one of those up and in a year or two make some nice money. But, my crystal ball is still a little cloudy on that! :-)

So to answer the question "Should you buy in Naples now?". I say without a doubt "YES". Just use a really good agent to ensure you are covering your bases and meeting your purchasing goals and objectives.

I look forward to hearing from you and best of luck with your home purchase!

Best regards,
Dean

It's a good time to buy Florida!

Florida’s existing home, condo sales rise in March 2009

ORLANDO, Fla. – April 23, 2009 – Florida’s existing home sales increased in March, making it the seventh month in a row that sales activity demonstrated gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). March’s statewide sales also increased over the previous month’s sales level in both the existing home and existing condo markets. Read more!

First-time homebuyers: How to get the $8,000 tax credit

WASHINGTON – Feb. 17, 2009 – How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply – though things could change as tax professionals weigh the details:

The upside of Florida real estate: 15 market positives

Let’s take a look at some of the opportunities for today and the future of Florida’s real estate market.

1. Great prices. Statewide, the existing-home median sales price was $161,200 in the fourth quarter of 2008; a year earlier, it was $216,600 for a decrease of 26 percent.

Things are looking up!

I was just looking at some statistic from our MLS (Multiple Listing System) and it seems things are moving in the right direction. UP!

The statistics show condominium pendings have been increasing each month since September in a nice steady pattern up. As for the sales of condos, they made a dramatic jump up in December after taking a pretty good decline from October to November.

These statistics are for all of the Naples area and encompass all price ranges for condos. If you would be interested in receiving specific statistics for a particular area, neighborhood or type of property please do not hesitate to let Kim or I know. Have a great evening!