Housing starts in March 2013 crossed the one million mark for the first time in five years. For the first time in a long time we are seeing prices go up in the housing market, at a double-digit pace in many parts of the country, according to Lawrence Yun, Chief Economist for NAR, the National Association of Realtors.
Consider what demand would look like if underwriting restrictions were dialed back to a reasonable level; this is a possibility for two reasons. The banks are now flush with cash and the quality of recently underwritten mortgages has been high, according to Yun. This could drive up prices faster than what we might want for a healthy real estate recovery. If banks start easing overly strict lending requirements, this could mean fast growth. The only way to manage the price jumps we are starting to see now, would be to see an increase in inventory.
Inventory is very low right now…we have too many buyers chasing too few sellers and not enough housing starts to balance the deficit. Nobody, including me, wants to see the market rise too fast only to crash. If you are thinking about selling your home, now is the time to get into the market in Naples. Resales are a great value and buyers will come looking.
As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.
When you’re looking for an extraordinary home in Naples, Florida you deserve extraordinary service. Please call me, Frank Petras, Certified Luxury Home Marketing Specialist. I can be reached at (239) 595-2221 or online at www.FrankPetras.com.
Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida - Gulfshore Life Magazine
John R. Woods’ Emerald and Platinum Circles of Excellence
Realty Alliance Leading Residential Real Estate Sales Professional in North America
Appointed to Who’s Who in Luxury Real Estate
Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing