Summary – The Naples real estate market shows the number of pending sales in February for both homes and condos reached a 48 month high. The volume of new listings was lower than the previous four Februarys. With the closing period (defined as the period of time between offer acceptance and closing) of 30 to 60 days, the activity of pending sales and new listings bears watching as to how prices will be affected. Continue reading
Buyers looking to take advantage of today’s low real estate prices in Naples maybe considering purchasing a vacation condominium with another party or parties.
When purchasing a condominium in this manner it could be viewed as fractional ownership.
Condominium associations do not look favorably upon this type of ownership or on multiple owners not of the same immediate family, to prevent a transient atmosphere of the community. This could result in the unsuspecting restricted of the condo unit. Continue reading