Tuesday, May 19, 2020 / by Naples Ultimate Selling Team
All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary. Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit. As Mark Fleming, Chief Economist of First American, recently explained:
“Many still bear scars from the Great Recession and may expect the housing market to follow a similar trajectory in response to the coronavirus outbreak. But, there are distinct differences that indicate the h ...
Friday, May 8, 2020 / by Anna Eckstein
Q: What is being built on Immokalee Road? I see a lot of trees are being cut.
— Roxana C. Gomez, Golden Gate Estates
A: Preliminary site work for a major housing development by GL Homes began at the end of April across Immokalee Road from TwinEagles residential golf community.
Formerly known as TwinEagles South, the future 853-home community – which will be one of the largest in Collier County – was part of the same approval process of the 750-home TwinEagles but is no longer aligned with that subdivision. The proposed development is named Brentwood Lakes in recent records filed with the county’s Growth Management Department, but other names such as Mosaic are still being considered for the gated community of single-family homes.
“We may possibly rename it. We have not finalized the name,” said Richard Arkin, a vice president of GL Homes of Florida Corp. “We haven’t finalized the plans. We’re s ...
Friday, April 24, 2020 / by Naples Ultimate Selling Team
March Housing Activity Signals Essential Need for Homes
Naples, Fla. (April 23, 2020) - Like all industries impacted by the COVID-19 pandemic, the Naples area housing market was not immune to its effect in March. While home sales dropped, home prices remained steady, and in some cases, increased. Because the stay-at-home order went into effect mid-month, real estate activity during the first two weeks of March was strong, while activity during the second half of March tempered remarkably well. Brokers analyzing the March 2020 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), agree that the report showed one indisputable truth: The need for housing in the Naples area - whether it be a rental, new home construction, or homes in the resale market - is essential and still in demand.
"The real estate industry has been given a great responsibility in t ...
Thursday, April 23, 2020 / by Naples Ultimate Selling Team
Yesterday, Reuters released a poll of U.S. and European economists which revealed that most surveyed are now leaning more toward a U-shaped recovery.
Here are the results of that poll:
Why the disparity in thinking among different groups of economic experts?
The current situation makes it extremely difficult to project the future of the economy. Analysts normally look at economic data and compare it to previous slowdowns to create their projections. This situation, however, is anything but normal.
Today, analysts must incorporate data from three different sciences into their recovery equation:
1. Business Science – How has the economy rebounded from similar slowdowns in the past?
2. Health Science – When will COVID-19 be under control? Will there be another flareup of the virus this fall?
3. Social Science – After businesses are fully operational, how long will it take American consumers to return to normal consumpti ...
Friday, March 27, 2020 / by Naples Ultimate Selling Team
February Housing Activity Reflects Naples Enduring Desirability
Naples, Fla. (March 27, 2020) - Despite state recommendations to practice self distancing, the housing market in the Naples area continues to breathe with life. The February 2020 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showed overall closed sales increased 29 percent to 789 closed sales in February 2020 compared to 610 closed sales in February 2019. Admittedly, this report reflects comparable activity in February 2020 - which preceded self-distancing recommendations due to COVID-19 - but it is a glimpse at our market's significant and enduring desirability.
"We have a resilient real estate market that was proven during the last recession," said Dominic Pallini, Broker at Vanderbilt Realty, who w ...