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Spring Has Sprung

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Not a subscriber. However from the start they are hyping Minneapolis and some other urban areas. Yet I am seeing that the bloom is off Minneapolis. Tis may well be a hype story.

Now I will say that SW FL where we are is now one of the fastest growing areas in the US. It is a seasonal market but it has gone from REO central to lots of new construction and DOM of under 60 days.
 

Carlos Danger

Member
Joined
Jul 25, 2015
Professional Status
Certified General Appraiser
State
New Jersey
How is Lehigh Acres doing these days. Seemed like it was about 80% foreclosures 4-5 years ago.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Not a subscriber. However from the start they are hyping Minneapolis and some other urban areas. Yet I am seeing that the bloom is off Minneapolis. Tis may well be a hype story.

Now I will say that SW FL where we are is now one of the fastest growing areas in the US. It is a seasonal market but it has gone from REO central to lots of new construction and DOM of under 60 days.
SW FL may not be as healthy as you think it is per what the Naples Area Board of Realtors has to say. Per their latest release (March 17) , it seems like the market there is showing some warning signs that all is not good with increasing inventory (now a 10 months supply), increasing DOM, falling median sale prices for single family homes, etc:

upload_2017-4-3_13-16-59.png
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Naples is a different world. Subdivisions starting at $1M in asking price, multi-million dollar waterfront condos, etc. Charlotte County is the 5th fastest growing area in the US, Sarasota County the 3rd, etc. difference is the housing prices. For example, 1600 SF home on waterfront canal with harbor access, pool, dock, under $350K. Starter homes easily under $175K, as low as $110K.
 

Evincere

Elite Member
Joined
Dec 30, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Naples is a different world. Subdivisions starting at $1M in asking price, multi-million dollar waterfront condos, etc. Charlotte County is the 5th fastest growing area in the US, Sarasota County the 3rd, etc. difference is the housing prices. For example, 1600 SF home on waterfront canal with harbor access, pool, dock, under $350K. Starter homes easily under $175K, as low as $110K.

Naples is a city in Collier County, Florida, United States. As of 2015, the city's population was about 20,600. Naples is a principal city of the Naples-Marco Island, Florida Metropolitan Statistical Area, which had a population of about 322,000 as of 2015. Naples is one of the wealthiest cities in the United States, with the sixth highest per capita income in America, and the second highest proportion of millionaires per capita in the US. Real estate is among the most expensive in the country, with houses for sale in excess of $40 million.

In the Naples world it's typical to see MLS listings of mediocre 900 SF condos with 600+ monthly MF plus mandatory Golf or Social Club buy in at $3,000+ annually. Naples is congested and great if you love shopping, traffic, restaurants and recognition of having a "socially" esteemed address.

The economy IS real estate and tourism. One claim to fame it being the Golf capital of the World. lol
 
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