Naples Area Real Estate Activity Increasing Nicely

WASHINGTON – Jan. 11, 2007 – After bottoming in the fourth quarter of 2006, existing-home sales should gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors® (NAR).

David Lereah, NAR’s chief economist, says annual totals for existing-home sales will be fairly comparable between 2006 and 2007. “We have to keep in mind that we were still in boom conditions during the first quarter of 2006 with a high sales volume and double-digit price appreciation,” he says. “We are starting 2007 from a relatively low point, so even with a gradual improvement in sales it’ll be pretty much of a wash in terms of annual totals. The good news is that the steady improvement in sales will support price appreciation moving forward.”

“With all the wild projections by academics, Wall Street analysts and others in the media, it appears that much of the housing sector is experiencing a soft landing,” Lereah says. “Despite the doomsayers, household wealth will not evaporate and the economy will not go into a recession. If you’re in it for the long haul, housing is a sound investment.”

On the local front, Naples Real Estate has become active again. It seems that on Jan 1st 2007, buyers arrived along with the new year, with many of the local real estate firms commenting on the increased business from Buyers here to buy rather than just look around as in the last several months. This is been welcomed by the frustrated Seller in Naples, Marco and Bonita Springs but there are still many, many great deals out there to be had in what still is a Buyers market.

Many foreign Buyers from the England, Scotland and Ireland as well as Germany are also seriously looking to buy investment property or a second homes in the Naples area right now. With the double benefit of being in a Buyers market and the "bargain" exchange rates for bringing cash to the US, many don't have to think long about the benefit of investing in US Real Estate compared to the return on investment their own country.

Steve Barker.
GRI, ABR, CIPS
Amerivest Realty
www.SEBarker.com

Steve Barker is a British Real Estate Agent living in Naples and also serving Bonita Springs and Marco Island.
He is one of only a dozen "Certified International Property Specialist" (CIPS) in Naples and also a holder of the GRI & ABR designations.