Metas
Naples Real Estate News - 08/24/07
Some good news for prospective home buyers in the Naples area - mortgage rates dropped to their lowest level since May of this to about 6.5%.
On the national scene - new home sales in July were up 2.8%. What will the August figures show, especially in light of the sub-prime mortgages, foreclosures, liquidity and credit crunch?
Comments
2 Responses to “Naples Real Estate News - 08/24/07”
Got something to say?
I was wondering how the rental market in the Naples area is doing.
Do more landlords prefer seasonal furnished rentals or annual rentals?
I’m interested in knowing if it is a good place for residential investment housing because i’d like to live in the area and not be too far from my properties.
Hi Steve,
I really don’t specialize in the rental aspects of real estate in Naples area.
At this time speaking with a friend that specializes in rentals, he suggests an annual rental. He comes to this decision due to the current credit market turmoil, which is leading to a greater number of people looking for annual rentals.
Seasonal furnished rentals requires a greater investment in equity for the furnishings and will result in a less return on equity.
I would agree with him on these points.
Right now, for residential investment is a good time. In fact, many professional investors are buying now, with the expectation of prices increasing once again.