Some intriguing news coming from several different sources and their effect on the market and the economy, both locally, statewide & Nationally.
The Latest Housing Reports on Homes & Condos in the Naples, Bonita Springs & Estero Market - HERE for Home Data.
Hertz is Relocating their Corporate Headquarters to Estero near Coconut Point. Hertz World Headquarters moving to Estero, adjacent to Fountain Lakes , with 700 jobs paying an average of $102,000. What effect u think that will have on home-prices? - Hertz News Article from USAToday.
NaplesNews.com - MEDIAN HOME PRICES INCREASE 17 PERCENT IN MARCH 2013
I heard the chief-economist, Lawrence Yun of the National Association of Realtors speak the other day in Washington in a room filled with industry leaders (builders, developers and Realtors) in public policy. The nation as a whole has a shortage of inventory and the projections of the effect that building is having on the economy is driving jobs, the stock market and supporting the large deficits of the Federal Government. They expect that trend to continue for the next 5 years, with the expectation in Florida for prices to increase between 4-8%. All 50 states have positive projections over the next 12 months for the first time in more than 6 years. The major headwinds three speakers saw that could possibly derail the economy are the Federal Government eliminating the Home interest deduction and raising down-payment requirements for first-time home buyers.
If you want to see all the historical and forecast projections, here is the link to the slides in his presentation - http://static.coreapps.net/nar_midyear13/handouts/4e192e9c59124284346d21d3f5bfca85_378.pdf .
Rise in Interest Rates in the last 24 Hours reduced Purchasing Power by 5% - CNBC, Growing Home Prices.
If I can assist you in any way I am happy to do so. Have a great week!
-Garren Grup & Nina Link
Naples Condos, Homes & Automated updates at www.ViewAllNaplesHomes.com
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Garren Grup is a Real Estate Consultant, REALTOR®, ABR, GRI, CNE, CDPE, SFR, CREN. Noteworthy Results in Luxury properties, Golf course homes, beachfront and vacation escapes!