Still a Strong Sellers Market?????? (Orlando, Cape Coral: for sale, foreclosures, HOA fees)

[JPrzybylski07]

Originally Posted by Corrie22

Naples is not the same market as Orlando or Tampa either...

They are vacation homes...but also investments....they don't need the money right now and will hold out to get their price

Then the market will adjust accordingly. Plenty of deals to be had in other areas of SW Florida. Naples is great and all but you have some beautiful areas in Estero, Bonita, Punta Gorda, Venice, etc! Buyers are so much more savvy nowadays with the internet.

Plenty of other deals to be had in other parts of the world! Florida has a lot going for it but eventually prices will come down because of competition from other places.

[Sugarcubesea]

Originally Posted by Richard818

The key is NOT to be a motivated buyer. Be patient and you will eventually find a motivated seller and a great deal. Make sure your agent is willing to put in the time and effort to stay on top of the market on a daily basis on your behalf or do it yourself.

Richard, I so agree... I've been looking for 2 years now. I have a great realtor and he sends me daily updates via email with homes that meet my criteria. We are only able to get down to Naples once or twice a year due to our jobs... So I'm willing to wait to get the location, the price and the home I want.

[markjames68]

Originally Posted by Sugarcubesea

Richard, I so agree... I've been looking for 2 years now. I have a great realtor and he sends me daily updates via email with homes that meet my criteria. We are only able to get down to Naples once or twice a year due to our jobs... So I'm willing to wait to get the location, the price and the home I want.

I suggest that you for the next downturn - Naples will likely be hit hard again. Might take another couple of years.

[ron e wheels]

So what is driving this market? A good economy is what many are saying. Yes, I agree nationally but what is the engine driving the Naples market? Look at the demographics of those seeking a residence in the area. Boomers from the northeast and Midwest and they have money. They get better weather, lower taxes, and no state income tax. I believe this will go on for another six years. At that point, the earliest boomers will start dying off at a greater percentage creating more available housing than demand. Some areas will have a great deal of problems because of this. 20 percent drop in an area like the Villages won't do.

Some are expecting a significant drop in the market before then but I do not see the demographics supporting that yet. I Purchased my home in 2/2011 at a 60% discount or I couldn't afford to live here. I think you'll have to wait somewhat longer for that downturn.

[Marc Middleton]

Originally Posted by ron e wheels

Some are expecting a significant drop in the market before then but I do not see the demographics supporting that yet. I Purchased my home in 2/2011 at a 60% discount or I couldn't afford to live here. I think you'll have to wait somewhat longer for that downturn.

I Don't see a drop and I live & breathe Real Estate in SW & SE FL. Sure Miami and places like that will have a correction as foreign money dries up and the glut of condos sit on the market. But places like Naples where (like you said) are boomers with money to spend seeking an escape won't be hit unless a major recession comes in. That would probably be in 4+ years (usually every 2 presidential cycles it seems)

[logybogy]

The thing about Naples and southwest Florida is it is not just getting people from up north retiring but increasingly fed up people from Miami/Ft. Lauderdale wanting a better quality of life for their families and more affordable housing. Lots of the working people in Ave Maria commute 90 minutes each way to Broward for work across the everglades.

[markjames68]

Originally Posted by ron e wheels

So what is driving this market? A good economy is what many are saying. Yes, I agree nationally but what is the engine driving the Naples market? Look at the demographics of those seeking a residence in the area. Boomers from the northeast and Midwest and they have money. They get better weather, lower taxes, and no state income tax. I believe this will go on for another six years. At that point, the earliest boomers will start dying off at a greater percentage creating more available housing than demand. Some areas will have a great deal of problems because of this. 20 percent drop in an area like the Villages won't do.

Some are expecting a significant drop in the market before then but I do not see the demographics supporting that yet. I Purchased my home in 2/2011 at a 60% discount or I couldn't afford to live here. I think you'll have to wait somewhat longer for that downturn.

I suspect a flat to slightly declining market for the couple of years. I don’t think there will be a return to the level of the 2007 recession drop, but will be somewhat milder. But the area has done a lot of building so some areas will be harder hit for resale, especially North Naples and east of 75. At some point there will be a saturation of cookie cutter developments all along Immokalee Rd.

Depending on the 2020 election there could be a repeal of SALT deduction limits which would reduce the appeal of leaving the NE, at least full year.

I see challenges in the golfing communities in the years to come. As Gen X starts to retire golf won’t be as popular. Plus if you’re not a daily player those fees add up.

What SW Florida needs is a more diversified economy that doesn’t cater primarily to seniors and snowbirds. That will attract more younger families that work outside of the service sector.

Barring a bad hurricane hit Naples proper will continue to do as well as it always will. Those waterfront properties are hard to find anywhere else.

[Sugarcubesea]

Originally Posted by ron e wheels

So what is driving this market? A good economy is what many are saying. Yes, I agree nationally but what is the engine driving the Naples market? Look at the demographics of those seeking a residence in the area. Boomers from the northeast and Midwest and they have money. They get better weather, lower taxes, and no state income tax. I believe this will go on for another six years. At that point, the earliest boomers will start dying off at a greater percentage creating more available housing than demand. Some areas will have a great deal of problems because of this. 20 percent drop in an area like the Villages won't do.

Some are expecting a significant drop in the market before then but I do not see the demographics supporting that yet. I Purchased my home in 2/2011 at a 60% discount or I couldn't afford to live here. I think you'll have to wait somewhat longer for that downturn.

Ron, Thanks for the great perspective...I like you want to purchase at the lower end of the market vs at the highest end. I've just booked our first two visits of 2020 down to the Naples / Bonita Springs area, and will continue to look for deals to come down another time as well.

My family's accountant has given me the same advice in that the earliest boomers will start dying off at a greater percentage, starting in 2026.

Every year when we go down to Naples, I meet more and more folks in their late 70"s and early 80's (from the Silent Generation). Everyone that I speak to has retired to this part of FL and loves it and does not want to move back to the cold region they came from... I can't blame them...

I'm from the Midwest and our winters are getting more intense and I'm just done with the snow and ice.

[logybogy]

The thing about Naples is it has competition. You may find other areas to be better values. Sarasota can be cheaper especially the newer areas south around North Port. Charlotte County is a great value if you prioritize boating over beach access.

And there can be good values in Cape Coral. You just have to determine if you want that manicured Naples upscale look and vibe or if you like the other areas that are more middle class. If you aren't a class snob and just care about warm weather, there are much better values out there in southwest Florida.

[markjames68]

Originally Posted by logybogy

The thing about Naples is it has competition. You may find other areas to be better values. Sarasota can be cheaper especially the newer areas south around North Port. Charlotte County is a great value if you prioritize boating over beach access.

And there can be good values in Cape Coral. You just have to determine if you want that manicured Naples upscale look and vibe or if you like the other areas that are more middle class. If you aren't a class snob and just care about warm weather, there are much better values out there in southwest Florida.

Absolutely, although again if you want a mansion in Port Royal there aren’t as much options to compare with outside of Miami.

I agree that for value a retiree should consider other areas as well.