Naples Real Estate is Hot

Real Estate
Housing indicators in Naples, Florida and nationally look good for the most part as does the overall economy, according to experts.
Those findings were some of the insights shared Tuesday afternoon by a trio of speakers at the 2015 Annual Naples Area Board of Realtors Economic Summit held at the Naples Grande Beach Resort.
The event is NABOR's annual look at the state of the local housing market and what global, state and regional influences are shaping it. More than 400 turned out Tuesday to hear about the recent upswing in the local real estate market and where it's headed in 2015 and beyond based on trends and larger market forces.
In Naples, home prices are going up and stabilizing nearly across the board and in some cases have surpassed peak 2005 levels, said Cindy Carroll, vice president and manager of the residential division of Naples-based Carroll and Carroll Real Estate Appraisers and Consultants.
A lot of that increase in value has to do with where a property is located.
"Neighborhoods broken down by ZIP codes seem to make a lot more sense than when it's broken down by price range," she said. "It's about locati

Good News for Fort Myers Real Estate

Real Estate
In the first quarter of 2015, real estate prices went up, home sales went up and commercial lease rates went up.
But builders were not putting up anything like a normal number of homes, let alone retail, office or industrial space.
Nor is the market going up to the stratosphere in preparation for another major crash.
That’s the essence of this quarter’s review by the three presenters for The News-Press Market Watch.
In short, the presenters say, it’s not the run-up to another boom despite rising prices and tiny inventories of homes for sale.
But that’s not a bad thing, considering the recession that took the industry over the waterfall after the euphoria that prevailed from 2004 through the first part of 2006.
“When inventory climbs and sales drop, then we can sound the alarm, but until then, the entire Southwest Florida real estate market is in good health and rational,” presenter and real estate broker Denny Grimes of Denny Grimes & Co. says in his column.
Presenter Randy Thibaut, owner and founder of Fort Myers-based real estate company Land Solutions, writes that the market is far from irrational exuberance: “Some people may think we’re headed for 2006 levels. We’re not. As a matter of fact, we’re just getting back to 2000 levels for permit activity.”
Presenter Stan Stouder, a founding partner of real estate brokerage CRE Consultants LLC, writes that for commercial property it’s getting harder to find listings for exactly what a prospective buyer wants.
As a result, brokers are doing more off-market deals: searching out a property that meets a client’s needs and asking the owner if he’ll entertain offers.
Even so, Stouder says, don’t expect to see a wave of new construction coming anytime soon because construction costs are sky high. At present, rental rates don’t justify building new structures. Courtesy of Fort Myers News-Press.