Royal Harbor end of summer 2007 Real Estate summary

ROYAL HARBOR Real Estate market report

To date in 2007 there are 7 closed homes in this area, 6 in the Royal Harbor subdivision and 1 in Golden Shores. Although this is not a lot compared to earlier years when 40 some homes would sell in a year it is about what sold all last year. There were also 12 condos reported sold.

All the condos were waterfront and either had deeded docks or dock space available. From a generalized overlook it appears selling prices for the properties selling are at the 2003- 2004 levels. This is before the big surge in prices when the run up was like a buying frenzy. Back then we saw homes sell multiple times in one year , each seller making one or two hundred thousand dollars on the deal.

Nationally the housing slump is well documented with many TV newscasters, Real Estate prophets etc all having a say. Here in Naples our sales have slowed but certainly not stopped. People are out there looking for deals. People still want to retire in the sun with clear skies, clear blue water and soft seas. We have all that in Naples. I showed lots of people homes last season and many were literally talked out of buying by the media, the waitress at the diner, the gas station clerk, the parking attendant and on and on. Many of these people are now starting to re-contact me and are seriously thinking of coming down to purchase.

With Royal Harbor prices and sales bringing up the bottom of the Naples Bay area housing market it is a great time for end users to purchase. Many sellers have found their homes are now entering the third year on the market and have not had a bid on them. These people are ready to deal. Friends and colleagues I talk to say they expect the market to start cooking again this fall.

for a look at current listings visit my web site
www.terryandrhonda.com
Terry Forshier