Whether a potential buyer wants to purchase a primary residence or an investment income property - now is the time to buy real estate in Naples. There continues to be a large inventory of homes that are offered at discounted prices. Some of these homes are discounted up to 40% or more. At the same time, there are signs that the housing market is beginning to improve. More new homes are being built and more previously owned homes are being sold. In some areas, home prices are even beginning to slowly rise.
On the home financing front, interest rates remain at historical lows. Another plus for the buyer: banks are making mortgage financing more available to all classes of Americans. For most buyers, it’s probably best to obtain bank approval – called a prequalification – before making a purchase offer on a home. Prequalification lets the buyer know the amount of money a bank is willing to lend towards the purchase of a property. Knowing that a certain amount of mortgage money will be available helps narrow the search for a new home and removes some of the stress on the buyer. Over the last 100 years, real estate has proven itself to be a solid investment. And building equity in a home places an individual squarely on the path towards financial stability.Happily, there are still good buys to be had, and many sellers are offering better terms and conditions in an effort to attract more buyers. Also, it’s still possible to find foreclosure homes and short sale homes at very appealing prices. In fact, 2012 may be a banner year for the sale of “distressed homes.” This is due to the fact that many banks had to put off foreclosing on certain properties because the federal government and state governments were investigating paperwork irregularities. For the most part, the banks have now resolved these situations, and they can move forward in disposing of the properties. So for anyone who likes a bargain, 2012 may be the year to buy that “little piece of paradise” in Southwest Florida.
V.K. [Mel] Melhado PA
Fine Home Specialist
Preview Naples Group
Premiere Plus Realty Co.