WHAT A DIFFERENCE A FEW YEARS MAKES!

Posted by V.K. [Mel] Melhado P.A. on Thursday, June 12th, 2008 at 4:49pm.

Interestingly, we just listed several days ago, the least expensive single family home within the City of Naples. The home is small, only 900 square feet under air with 2 bedrooms and 1 bath, but was extensively re-modeled several years ago. Nothing was left untouched, the roof, the a/c, the kitchen with all new appliances and on and on. It was done extremely well, almost to perfection. Oh by the way, we priced the home to sell in the current market at $189,900.

Yesterday we received an offer to purchase at $183,000 and the owner is considering the offer as we speak.

What makes this so interesting is the fact that we had this same home listed back in the heyday, (‘04/’05,) the height of the market then. At that time it was again the least expensive home within the City of Naples at almost $400,000 and eventually we had a contract on it.

As the price of gas continues to rocket upward, the price of real estate has settled back down, which isn’t necessarily a bad thing. It just goes to show how far we’ve come in such a short time! Rordon Front Home3