naples

Pent Up Housing Demand in Pictures

one other note: i sold florida waterfront in Jan 2006. listed november 2005. the comments i got from neighbors:

"you will be sorry for selling"
"you can get 10% higher"

30 showings and 2 bids -- contract Jan. first buyer couldn't close as underwriters began to tighten stds. another contract in mar with second buyer but i had to pay have the title insurance. closed april.

now lists are 30% lower than where i sold. i sold at 2.5x market rent (the person who bought is paying 2.5x what she could have rented the place)

keep in mind the environment, lenders are not lending for condos that are not heavily owner occupied. they want higher equity now too. insurance and taxes are higher. this all means DON'T expect prices to run away. its got a ways to go before it approaches market rent.