I am going to the Century21 International Convention in Orlando from Thursday night through Saturday and came to Florida a few days early to visit friends in Naples. The stories in the newspaper about the local market make me feel right at home:
- Agents are seeing a great deal of activity
- Homes under $300,000 are selling
- Single property home sales were up in January 2008 over 2007
- Sellers (most sellers anyway) have come to the realization that if they want to move their property they will have to move their price
- It's a great time to purchase
Since both areas have strong second home markets, it's not too surprising that I would see similarities. It's actually reassuring, however, since the national real estate statistics (sales down 0.4 percent and median price down 4.6%) continue to be negative.
Let's hope that the government's incentive package will provide the confidence boost buyers need to take advantage of the large inventory, low interest rates, low prices, and their own pent-up demand.
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