The Naples Daily News published an article this morning with predictions of events that will influence the real estate market in Collier and Lee Counties in 2011. According to those interviewed in the article, short sales and foreclosures will continue to play a large role in the real estate market.
Unemployment figures in Collier County came in at 12.4% in November of 2010. Unemployment could help fuel the foreclosure market. One of the people interviewed thinks the foreclosure/short sale market could be here for another few years.
I believe that if you have the ability and desire to purchase a home in Naples, now is the time to do so. Even if prices have not quite bottomed out, interest rates are still low and there are many motivated Sellers here. If you decide that you want to "wait" until the bottom of the market arrives, you may have saved money on the price of the house only to see interest rates rise. Anyone out there remember when interest rates hovered around 20%? I am not saying that interest rates will go that high; however any savings on the price of a home could be eaten away with a higher interest rate.
A good Realtor® will be able to help you in your home search. Is 2011 the year you will make a decision to own in Naples?
Would you like to own a home in Naples? Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.
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 32 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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