Naples Florida Real Estate

What's Happening In Real Estate In Naples, Florida!
DID THE BUBBLE BURST?
Over the past few weeks, many friends, neighbors and customers have asked for my opinion of the curent real estate market in Naples and surrounding areas. The following is my perspective , backed by my analysis of multiple listing data and public records. While my comments will be forthright, please remember the conclusions are my opinion.
Just about two years ago, in the late spring of 2004, Naples area became an investor's paradise. It was as if someone ran an ad that Naples was on sale! As investors flocked to the area, inventory tightened, which led prices to rise to historical levels. These investors found that as their properties were ready to close, new buyers were ready to buy them.
It was just alittle over one year ago, in early summer of 2005, that the tides began to turn. The Feds became concerned about new loans being written at higher and higher levels for the same property. Guidelines for appraisals were tighened and without substantial cash, many could not qualify for loans.
The hurricanes also played a major role in the real estate business, although not having an impact on our area. Many visitors stayed away believing there was extensive damage.
Then we saw interest rates begin to rise.
All these factors took the spectacular out of the market. Investors unable to find buyers quickly, began lowering thier prices. Now prices are sliding back to last years levels and some lower. Giving us a buyers market. If you are considering buying, this is a great time. There are bargains at virtually every price point and in most neighborhoods. For long term investments, appreciation rates remain outstanding.
Naples is "ON SALE" again!!!!
Dominic Pallini