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53°F, Fair

Just Another Day In Paradise

Posted by V.K. [Mel] Melhado P.A. on Thursday, March 15th, 2007 at 3:48pm.

People, especially other agents, are bemoaning the fact that the real estate market isn’t what it was a year and a half ago. Well naturally…the Naples Real Estate Market, like other over-priced areas in the country, could not sustain itself and needed a correction.

We sure have gotten that correction and now we just might be looking at rather flat spell, until the inventory levels get reduced to a far more manageable plateau. Currently the state of the inventory in the greater Naples area exceeds 12,000 units, which equates to a 3+–year inventory. Normally, we look to see the inventory at about a third of that amount, so it might be a while before we get there.

The good news is that it is a phenomenal time to buy! With the vast amount of choices in all communities, there are some great deals to be had out there. We, as real estate agents, need to change our thinking. We need to be marketing to those buyers and not worrying so much about whether we are going to have to continually reduce our listings to stay ahead of the market curve in order to get them sold.

It can be a frustrating time in our careers, but it can be equally rewarding. It truly is what you make of it! I have changed my whole realm of thinking and it is paying off in spades. I’ve leaned that there is plenty of activity in a down market and you have to adjust your plan to meet the challenges.

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