Southwest Florida Continues to See Signs of the Housing Market Improving

Southwest Florida Continues to See Signs of the Housing Market Improving

As the saying goes, “all politics are local.” The same can be said for the housing market. Every market is unique. Each with its own set of issues, economy and demographics. Lawrence Yun, chief economist with the National Association of Realtors sees an increase in home sales on a year-over-year basis. “Today’s data also reflects something I have not seen over the past two years,” states Yun, “a substantial rise – to the tune of 20 percent or better.”

Two of the areas where Yun sees hopeful signs are San Diego and Ft. Myers, Florida. Both markets have seen increased activity and sales due to buyers jumping into the market looking for bargains. Based on fundamentals, Yun continues, “The affordability conditions essentially match that of 10 years ago. Prices are higher today, but so is income, and at today’s historically low mortgage rates, and with improving conditions just recently with Fannie Mae and Freddie Mac things are looking brighter”.

Patrick Newport, an economist at Global Insight, observes “Right now a lot of people are staying away because they don’t want to buy an asset that might lose value right away.”A Ft. Myers, Naples, Florida builder Kaye Homes has the solution to that problem. A local builder since 1985, Kaye Homes is guaranteeing the purchase price of a new home for up to 1 year. So, if someone purchases a home today and the value does drop, they will refund the buyer the difference. Its a win/win situation. The buyer buys at what everyone thinks is the rock bottom price, but just in case the Southwest Florida market turns again and the home is appraised lower than the purchase price by the time they move in Kaye Homes will give them a check at closing.

To learn more about the Kaye Homes guarantee programs visit www.kayehomes.com. Move In Ready homes are now available from the $200s.
Custom Homes in Naples’ and Ft. Myers’ best neighborhoods are priced up to $3 million.
For more information call 239-455-1007