The Naples Board of Realtors® recently released the sales figures for April of 2009. The March 2009 Florida Sales Report for single family homes and condos has also been released.
The good news is that in the overall Naples market, pending sales increased 87% in April 2009 compared to April of 2008. Not surprisingly, the under $300,000.00 represents a large portion of the pending and closed sales.
I keep getting questions about purchasing bank owned properties. If a buyer is interested in buying a bank owned property that is under $300,000.00 and has to obtain a mortgage in order to purchase the home, they face a number of obstacles. The largest obstacle is if they need to obtain a loan. Most of the offers that are coming in on bank owned homes under $300,000.00 are cash offers. Banks who are looking at offers will take a cash offer over a offer that has a financing contingency. When a bank owned property is listed, some banks will actually wait a few days and pile up offers and then pick the best offer of the bunch. This makes it very hard to find a bank owned property if a buyer has to obtain a loan to finance that home.
Why the fireworks? My brother Patrick's loan was approved yesterday!!!! If all goes well, we will close on June 15th. Patrick will have his spot reserved for him in Naples when he finally retires......and he will be close to his sister!
Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation. Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.
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About the author:
Lynn Wilber is a Real Estate Professional who lives in Naples. Her 31 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers. For more information, please contact Lynn Wilber or call 239-594-2780.
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