Naples Real Estate

While everyone knows that Florida is famous for its gorgeous weather, beautiful beaches, sports activities, and wonderful food, it also should get kudos for the tax structure. Property taxes have been very prominent in the media lately, yet Florida is only the 22nd highest in the country, and way more favorable than such states as New York, New Jersey, Massachusetts, Illinois, Wisconsin and California. Florida is also one of the few states that does not have an estate tax, as well as being one of the seven states that does not have an income tax.

There is more great news coming from the Naples Area Board of Realtors (NABOR). According to the latest figures released, in Collier County, not including Marco Island, home sales for the month of May 2008, increased almost 6% over the previos year, with the most activity occuring in the single family home sector. An even better sign that the real estate market is recovering, NABOR also reported that the number of pending sales is up even higher, marking the fourth straight month this statistic has shown an increase.

Even the experts are saying that now is a great time to buy that new home that you have been thinking about. In an address given to the Naples Board of Realtors (NABOR) last month, noted Florida economist, Hank Fishkind of Fishkind & Associates, said that prices have flattened out and should not erode any further. He also stated that the Naples area will be the first to recover because of the lower volume of homes on the market, compared to Lee and Charlotte counties. While this recovery will not happen overnight, sales volumes will really start improving within the next six to twelve months, he added

Coldwell Banker Residential Real Estate, Southwest Florida, reported that its May 2008 sales were 84% better than May 2007. “May’s sales results provide clear evidence that buyers are beginning to enter the market in numbers we haven’t seen in some time. Rates remain historically low and pricing is at a point where consumers are making decisions to take advantage of the exceptional values available in the market,” said Charles Richardson, Regional Senior Vice President, Coldwell Banker Residential Real Estate, Southwest Florida.

Even the experts are saying that now is a great time to buy that new home that you have been thinking about. In an address given to the Naples Board of Realtors (NABOR) last month, noted Florida economist, Hank Fishkind of Fishkind & Associates, said that prices have flattened out and should not erode any further. He also stated that the Naples area will be the first to recover because of the lower volume of homes on the market, compared to Lee and Charlotte counties. While this recovery will not happen overnight, sales volumes will really start improving within the next six to twelve months, he added.

As predicted, home sales in Naples are on their way back. The latest figures released by the Naples Area Board of Realtors (NABOR) show that there was a 6% increase in closed sales for the month of April this year, as compared to 2007. The large part of this increase was for properties under $300,000, both for single family homes as well as condos. There was also a significant increase in the number of pending sales, which could illustrate that the market may have hit bottom and people are realizing that there many excellent values in the market today.