Amerivest Realty to Appear on House Hunters

For more info:
http://www.amerivestrealty.com/news/2007/02/amerivest-realty-to-appear-on-house.html

NABOR Reports Surge In January Sales

NAPLES – The first month of 2007 was a good one for the Naples real estate market, with statistics showing a surge in the number of pending home sales, according to figures released by The Naples Area Board of Realtors®.

The statistics include only sales of homes within the Naples geographic area - specifically all areas in Collier County excluding Marco Island and other outlying areas - to reflect an accurate and relevant portrait of the local real estate market. Developer sales are not included.

A summary of the statistics is presented in graph format, along with the following analysis:

The increase indicates that the Naples real estate market is making a comeback after 15-month lows. Buyers who were cautiously watching national trends are seeing an upward swing in the local market that has boosted consumer confidence, and they are moving forward with their purchase. The number of pending sales was strong in each pricing category.

Residential pending sales averaged 413 for the month of January which demonstrates that buyers are taking advantage of good interest rates, seller-incentives, and a good selection of inventory. Even so, contract sales figures remain below the record-breaking numbers that characterized the high demand of the 2005 real estate market.

Area Realtors are reporting significant increases in the number of people actively looking at residential property, noting that realistic pricing adjustments have occurred in previously over-heated market areas.

The median price of residential property – noted at $407,721 - is once again climbing following an end-of-the-year slump in the fourth quarter of 2006. The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold. In any given period the median can vary greatly if there is an anomaly, a single sale that is significantly higher or lower than other properties in the area.

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.