Is Naples Florida having a fire sale?

Nearly every week I get an inquiry from an out of town buyer wondering what is going on in Naples and if they can "steal" anything.  Well, yes, I tell them, there are some fantastic prices right now on some great properties and this is an excellent time to buy.  Once we get talking, they tell they want something "on the beach, newer construction or completely upgraded, priced at under $400,000".  Well, that's going to be a little near impossible.  Can they get something on the beach?  Absolutely!  Can they get newer construction?  Absolutely!  Can they get something for under $400,000?  Absolutely!  Can they find all of this in one property?  Absolutely not! 

Naples may be feeling the downturn in real estate that other areas of the country are but that isn't to say that we're having a fire sale. 

During the booming days of 2004 through 2006 Naples saw more than it's share of higher valued properties and seller's were thrilled.  (Buyers were thrilled to get something!)  However, with those end-use buyers there were a lot of investors too.  They helped drive the prices up and create the frenzy that made people feel as though they had to buy something then and there or miss out.  We've all heard the saying, "What goes up, must come down," and this is true of the Naples house price.

Well, these days most investors have left the table.  What I am seeing in buyers are people who really want to own a piece of paradise and recognize that this is a great time to buy.  Sellers also recognize that they have to be realistic with there asking price or no one is going to be interested.  And there you have the recipe for a perfect transaction. 

Prices are down, in some places as much as 30%, but what drove most people to Naples in the first place hasn't changed.  We still have beautiful weather (70 degrees as I write this), some of the best beaches, and a casually elegant lifestyle that appeals to most. 

Naples real estate is starting to show signs of strength once again.  Prices are holding steady.  Properties are selling.  And, if you know what you really want you can find it.  You just have to know that what you wish to have may need to be tweaked with what you can afford. 

In the end though, it's all good.