Do you think the real estate market will be good this time next year? (Naples: sales, 2015)

[fireking]

Some say we are in another bubble. I don't see this. I don't see flippers and speculators like in 08 I see people who are actual buyers. Opinions?

[imagardener]

In Englewood there seems to be fewer listings than a year ago, perhaps fewer foreclosures or people waiting just a little longer to to get higher prices. I've noticed prices higher maybe because not much competition.

[La-La land]

I think real estate runs in about 7 year cycles, and we're nearing the end of a cycle. The only market that I watch closely is Longboat Key, so most of my (amateur) opinions are are based on it. And in terms of supply, there never seems to be any sort of big increase in the number of homes on the market, which of course stabilizes prices. 360, 370, 380 listings on the market. I think if and when that number climbs, the market will become more of a buyers market again, and prices will start to drop. Will it climb in 2017? Dunno. Also, prices from a decade ago set new ceiling prices, and people can make themselves comfortable with any price below that. They can tell themselves that they're not buying at the top of the market. And I think people are still in the comfort zone actually. This applies mainly to new home buyers only, if you already live in an SRQ neighborhood, and you want to move elsewhere in your neighborhood, then the price of you're home is irrelevant. Meaning, if you sell a house for $100, you should be able to buy another house just as nice for $100. And you can extrapolate that into the millions. Only if you're buying for the first time, or selling for the last time does it really matter.

[071402]

Doesn't this depend a great deal on interest rates?

[mr&mrssunshine]

I am in the new home market. I honestly don't see it slowing for at least 3 years MINIMUM. right now we have 75% of 2017's work already in place. the market is full of people moving from the Midwest or the north east, mostly paying cash.


they aren't even down sizing, we are seeing homes from 2500 sq ft up to early 3000's.


what has slowed up a bit is inflation, prices rose double digit in 2015 closer to 5% this year which is much more sustainable

[Nancy in Nokomis]

I think the closer you are to the Gulf the better - they can keep building and building but closer to the Gulf will always be premium -

And - I think a lot depends on who wins the election...

[Xia Chen]

BS, market overpriced for foolish buyer, so what if they keep buying at stupid price- just make bunch of stupid buyer in long run - this has happened before but nobody learned them either ha Ha

buyer here bring their stupidity about price and value here from north - think they get bargain ha ha = so they keep buying stupid price house until economy breaks again, then same story all over again

crazy price like attached villa maybe 1700 feet at 350000, now thats stupid

[mr&mrssunshine]

not at all, though of course you would like to have people believe it. as I said we have enough work so don't need to chase it. what we see are people moving from other states with cash ,who are willing to pay far less than where they came from for what they want.


example, client moved from Ca. sold 1970s 2000 sq ft home for $850k. Now has a brand new 2600 sq ft home on water and saved $350k


client from Minnesota, sold 2900sf town home for $950k now building 3200 sq ft lake home for under $600k


young couple from New jersey, can work remotely, having a 3100 sq ft home in acreage for under $550k, sold home in NJ and instantly by moving each pays 7% less in state tax.


That's why I see a strong market. availability of cash...that's the key

[lluvia]

“The ‘need to buy’ market is increasing, but the ‘want to buy’ market is slacking off,” he said.

Naples single-family home sales price growth is slowest in state

[bbronston]

Mr&mrssunshine, have you seen a drain of subs over to the hurricane-affected areas and, if so, has it impacted your pricing or profitability?