Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Naples
 [Register]
Naples Collier County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-17-2017, 11:39 AM
 
Location: Naples, Florida
18 posts, read 22,544 times
Reputation: 19

Advertisements

Ive lived her for many years and been through more than one hurricane. Concerned about home values this go round. The market already had a lot of homes on the market and at rather inflated prices. Wondering if this will bury our real estate market. Several Realtors have expressed concern that this may be the bubble weve all dreaded. What do you think?
Reply With Quote Quick reply to this message

 
Old 09-17-2017, 11:55 AM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,513,834 times
Reputation: 3530
I am more worried (since I do not plan to sell anytime soon) about what the storm damage is going to do to property taxes and my HOA management fee.
Reply With Quote Quick reply to this message
 
Old 09-17-2017, 01:25 PM
 
1,064 posts, read 614,144 times
Reputation: 1258
Quote:
Originally Posted by seeshelly View Post
Ive lived her for many years and been through more than one hurricane. Concerned about home values this go round. The market already had a lot of homes on the market and at rather inflated prices. Wondering if this will bury our real estate market. Several Realtors have expressed concern that this may be the bubble weve all dreaded. What do you think?
We have been in the market looking to buy. We were wondering the same thing this past week and if we should wait for the next 6 -12 months to see if there is any movement.
Reply With Quote Quick reply to this message
 
Old 09-17-2017, 05:58 PM
 
14,394 posts, read 11,113,334 times
Reputation: 14163
Houses near the water will drop in value, houses built to latest code, not in a flood zone, and in a community that didn’t get wrecked should do fine. In 12 months many will forget about the immediate aftermath but will ask about these things. Same thing happened after Sandy in NY.
Reply With Quote Quick reply to this message
 
Old 09-17-2017, 07:13 PM
 
Location: Naples
192 posts, read 176,897 times
Reputation: 190
Houses on the water won't drop in value. Subdivisions on the swamp side will in the short run.

Napesfan
Reply With Quote Quick reply to this message
 
Old 09-17-2017, 07:20 PM
 
14,394 posts, read 11,113,334 times
Reputation: 14163
Quote:
Originally Posted by Naplesfan View Post
Houses on the water won't drop in value. Subdivisions on the swamp side will in the short run.

Napesfan
Note I said near not “on”

People who can afford Gulf Shore Blvd can also afford to rebuild. It’s the wannabes buying an older property in The Moorings that will have second thoughts.
Reply With Quote Quick reply to this message
 
Old 09-17-2017, 08:00 PM
 
162 posts, read 298,875 times
Reputation: 141
Many many factors at play here.

1 - Supply of houses will be reduced due to damage and destruction. So that means more people will be forced to look for housing. This is particularly acute in the affordable housing realm. I think this will act as a positive lift on pricing across the board.

2 - Demand will either increase with all the workers coming into town to fix up the hosing stock...or drop because people who evacuated will choose not to return. In the end, I think its likely going to be that demand goes up as Naples/Marco Island and the West Coast of FL experience a mini-construction boom of renovations/repairs. I think this will act as a positive lift on pricing.

Long term however...

3 - Taxes will have to go up to deal with all the replacement costs. I don't know how cities and municipalities work in terms of insuring losses. But if this area wants to go back to the way it was, there's going to be more money needed. Not to mention, there were major failings in key areas (sewage treatment, storm drainage/flood prevention). You can *BET* on the Directors of those areas of County/City bureaucracy extending their palm. Never waste a crisis after all. When taxes go up, your property value drops. There is no value created...just shifted from private homeowner equity to government coffers. This will act as a negative pressure on pricing

4 - HOAs will likely rise *AND* there will be special assessments. Bottom line, most places underfund their reservers. Also, with new communities, they likely don't have enough reserves to replace damage. My community, for example, lost street signs, lots of street lights, the gate, and the a ton of landscaping in common areas and home areas. The HOA technically covers landscaping in homeowners area. I can expect contentious Board and HOA meetings as these communities decide to either not go back to the way they were by eliminating features (even if its landscaping...its a feature to me), raising dues permanently to make structural changes, or levying special assessments to get back to good. This will act as a negative pressure on pricing.

5 - Damage to tourist/seasonal areas like the beach. How soon/quickly will those areas come back? Who knows. We are only 2-3 months away from Season. Its very likely that many facilities will *NOT* come back by the time season arrives. If there's a lot of beach erosion, there's now way that comes back in time as nourishment projects take years of permitting and engineering. Not to mention...who pays? Those battles will be epic as beachfront property owners duke it out with inland county residents about the value of the beach to us all. This is what happened in NC after storms wiped out their beaches. Many facilities and small businesses just wont survive a down season. This will act as a negative pressure on pricing.

6 - Macro factors. If the NE or Midwest have a terrible, nasty, cold winter....it will help our area. If not, then a middling snowbird flowthrough will likely be the nail in the coffin and prices will come down significantly due to a localized recession.

All in all, I'm fairly concerned about the long term recoverability of this area. This was no Wilma. This storm has the potential of forever altering the landscape and making collier county *LESS* upscale, less exclusive, less desirable. Much depends on how our County Leadership choose to navigate the next few years and how much they can get from Washington in terms of grants to get this area back to pristine. Remember, it had been over 10 years since a storm did damage to our area. The tree canopy cover was a major appeal to residents and guests.

If you want to see an area where a storm can just alter forever, look at Charlotte County after Hurricane Charley. Prior to Charley, it was a small town feel, desirable area. After Charlie leveled much of the county, the undesirable element stayed behind and much of the desirable element left. The "A" rated County School system cratered. Property values still have not recovered to that level and much of the new development there is just infill and ugly.

Last edited by night0wl; 09-17-2017 at 08:11 PM..
Reply With Quote Quick reply to this message
 
Old 09-18-2017, 06:16 AM
 
14,394 posts, read 11,113,334 times
Reputation: 14163
Too much money in Naples to let it falter like Charlotte County. But I agree that leadership needs to do what is necessary.
Reply With Quote Quick reply to this message
 
Old 09-18-2017, 08:13 AM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,513,834 times
Reputation: 3530
I worked for 20 years next to a town with possibly more wealth than Naples, Sea Girt NJ. The NJ National Guard and NJ State Police training facility was adjacent to the town (where I worked). I used to run everyday through Sea Girt and along the Sea Girt and Spring Lake boardwalks. What always amazed me was that, no matter how nice the house was, the wealthy owners seemed to have major renovations every off season! During the winter just about every multi-million dollar home had construction going on.

My point? Those wealthy owners in Collier will rebuild. The middle class, maybe not.
Reply With Quote Quick reply to this message
 
Old 09-18-2017, 09:01 AM
 
Location: Naples, Florida
18 posts, read 22,544 times
Reputation: 19
And there lies the concern -- great points by Night owl -- but tmozer is probably right. The middle class may not return and there seems to be a lack of that already. The middle class keeps the wheels turning and lets face it.... A middle class person can find work and housing elsewhere and probably do much better in life. Naples is like the Beverly Hills of Florida. HOw many middle class folks live in BH?There are many other areas all over the country where you can be a mechanic, nurse, teacher etc etc and have a lovely home, affordable taxes and A rated schools OTHER than Naples Florida. I will bet you see a lot of homes go up for sale therefore reducing the prices due to an over abundance of availability and I bet we see a lot of exits from the area. We have a big beautiful country out there!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Naples

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top