Where does the real estate market in Southwest Florida stand today? As the new year begins, there will be a host of articles with predictions for the 2010 real estate market. Some will be ”doom & gloom”, while others will be “rosy & bright”, but I feel cautious optimism is the proper outlook. The number of reported homes sales in Naples has been rising continually for months. Pending home sales are also up, and the inventory of homes on the market has dropped, which combined provide a stability for prices. Interest rates are likely to rise in 2010, but will still be quite low by historic standards, and they can be locked-in for 30 years or more. The tax incentive for first-time home buyers will go away, but that gift really only affected a small portion of potential buyers. Sellers are becoming more realistic in their expectations as they learn what their neighbors received for their home. One thing that should always be kept in mind is that Naples and Southwest Florida are unique and desirable markets (sun, sand & surf), and should be looked at as such.
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