In previous posts and in my Market Watch Reports (which can be found on my web site www.BobPisa.com on this page for Naples - other areas in the Community Information Section under the Communities Menu) have indicated the the market is turning. The title for this post uses the word "improving".
The market "turning" or "improving" are signs of change for the positive. This doesn't mean at all that the markets have returned to "normal" and we certainly will not see the return to the "crazy days" for the real estate market for some time if ever.
Moving a market like real estate is like turning an oil tanker at sea, it happens all so slowly. Nevertheless, there is a clear change in direction and in the case of the real estate market it is positive. This is very important for people considering the purchase of real estate in that it signals near or at the bottom for pricing.
There are still homes on the market not priced right, they have not adjusted to the current market and they will languish a bit longer. Other properties have adjusted, low-ball offers are not as frequent, and these properties are selling. Properties priced at the market will hold this pricing for a while as the still high inventory sells off. Toll Brothers CEO on the Jim Cramer show reported recently that southwest Florida has already turned for them as virtually all their new inventory is gone. I have visited two Centex Homes communites (The Plantation in Fort Myers and The Quarry in Naples) and all new product is to be built as is the case in another Bonita Bay Community I visited - Twin Eagles also in Naples.
Like I said, these are all good signs...welcome back!
