We are now going into our 3rd month of 2017, last year, predictions were made as to what would happen with a new President 2017. Certainly down here in Naples there appeared to be somewhat of a slow down in the final months of 2016 in an air of uncertainty. We now have a new government and overall the promises of our new President are good for sales with restrictions being lifted off businesses.
No doubt that 2016 was a rocky year, it mostly is just before an election, but Zillow stated that home prices increased overall by 4.8 percent in 2016, they further predicted that 2017 home prices would likely increase by 3.6 percent, a little less than 2016 but still on a steady rise since the market of 2006.
Changes in the Real Estate Market in Naples are to be expected, there are normal seasonal changes which happen every year. With more properties being placed on the market for sale during the winter, it makes sense as this when the Naples population is at it’s highest, more people more sales.
Here in Naples at the moment there is a small slow down in the number of sold homes, indeed the market is a buyers market at the moment. If you are thinking of moving or investing in a vacation home, then now is the time when you are likely to get a good deal buying a home in Naples. This is not just down to politics which have a much broader effect on the housing market as a whole, but more to do with the seasons. As the Naples winter season nears its’ end, sellers are keen to negotiate with buyers. Many homeowners have their main residence up North and a winter vacation home down here in Florida, if they want to sell then to sell before they leave makes a lot of sense financially.
Southwest Florida and Naples in particular, certainly seems to march to its’ own drum. Possibly because when everyone up North is waiting for the good weather to sell their home, down here we are in full swing, we live in an upside-down world, but generally, the weather is not a factor for home sales in Naples.
Let’s hope that this new Presidential term brings with it growth as promised, in the infrastructure of our country, in the easing of regulations which in turn should bring about more job creation, all of which will keep the housing market going in the right direction. Optimism is in the air and apparently infectious, with luck, we all will catch it!
Luxury Real Estate Advisor
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