Friday, February 13, 2009
Good news Bad news
The Naples Daily News continues to do a disservice to the real estate community by reporting news that can only be interpreted by professionals as false and misleading, yet many of the consumers who read the paper are running scared...The paper quoted a Moody's economic report, but failed to take into consideration that by categorizing the entire "Naples-Marco" area as one market, they completely miss the mark. Real Estate is local, but within any local market area there are pockets of other even more local markets...you just cannot give the entire area of Naples and Marco Island one broad stroke of the brush. The areas where we have seen the greatest depreciation in the past 3 years are (generally speaking), not the areas where our "snow birds", Retirees or European friends will buy 2nd homes, vacation homes or new permanent residences. The fact that the bottom dropped out and now Naples is more affordable for working families can certainly be looked upon as bad news for those unfortunate enough to have bought during the peak times. However, you must admit that this is an opportunity for all those buyers who just a few short years ago could not afford Naples...Why do we always have to look on the dark side? I read with sadness many of the comments posted on the Naples Daily News site...Name calling, rude statements, inaccurate math... Let's try to look at the bright side like one of my past customers has chosen to do...They bought a home in a lovely, gated north Naples community in October of 2005. They paid $500,000 for their "dream" home. Every year they came to Naples counting down to the husband's retirement...Today, due to foreclosures and short sales in their neighborhood, their home is worth about $350,000. But, do you know what they say to me when I talk to them, "We love our house. We would not trade the past 3 1/2 years of living in paradise for anything. We made over $200,000 on the home that we sold up north which made this move possible. We know by the time we get ready to sell the prices will come back up again." How is that for reason and understanding? Pretty darn logical! --and in truth, that is the attitude of most of the people that I talk with...So, if you're buying to "flip", now is not the time to buy...but, if you're looking to take advantage of a wonderful opportunity and want to live in and enjoy a new home or condo in Naples Florida, the time is right! People buy when they buy, they sell when they sell...last time I looked no one has a crystal ball. As a real estate professional I do the best I can with the facts I have to share public records, MLS data and details with my sellers and buyers. I want them to make informed decisions...and ultimately, they do make their own decisions. This time of year it is not unusual for me and my partner, Chip Harris, to work 12 hour days 7 days a week. We are dedicated professionals who hope to hear from you soon and look forward to earning your business. For information about Naples Real Estate and/or any specific neighborhood in Collier County, please call us today 239.370.0574. I'll leave all the negative reporting to the Naples Daily News...I prefer to walk on the sunny side of the street...by the way, it is 80 degrees outside today! That's gotta' be worth something!