Naples FL Blog

The Naples Board of Realtors® released the July 2010 and the 12 month ending July 2010 statistics today.  While the overall market saw an increase in the number of closed sales for the 12-month period ending July 2010, the number of closed sales fell a bit comparing July 2010 with July 2009.

The overall market still continues to be dominated by closed sales under $300,000.00.  In looking at the number of closed sales by price range comparing July 2010 with July 2009 the breakdown is as follows:

• $0-$300,000.                    62.54%
• $300,000. - $500,000.      15.35%
• $500,000. - $1million         5.80%
• $1 million-$2 million          3.74%

The increase in pending sales for the 12-month period ending July 2010 was up to 9,785 units pending from 7,655 units pending in the same period in 2009.  This increase of 27.82% is encouraging; however, how many of these pending sales will make it to closing?  Short sale quirks and stricter lending policies will cause a certain percentage of these sales not to close.

Some Buyers are using FHA loans to purchase homes here in Naples.  Purchasing condos with FHA loans can be more difficult as FHA spot approvals are a thing of the past.  The entire condo complex must be FHA approved now.

If you are contemplating buying a home in Naples, it is paramount that you speak with a lender before you even start looking for a home.  You and your lender need to be on the same page as to what you can afford.  If you have not purchased a home in the recent past, you will be AMAZED at what information is now required to obtain a mortgage!

Naples is a beautiful place to live.  When you are ready to own a home here, I will be happy to help you find the home of your dreams.

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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Please note that I receive no compensation for mention of any businesses or events.

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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