With the year of 2013 behind us we can look back and say it was a good year for real estate in Naples with appreciation reaching well into the double digits. The outlook for 2014 is good with expectations that the market will continue to increase but at a bit lower of a level of appreciation. There is still time to get into the Naples market and enjoy a prosperous future and despite a low inventory deals are still available if you have the right guidance.
Our market values are being driven higher at the moment because of supply and demand. In many of the downtown neighborhoods we are experiencing a lack of inventory especially for homes that are ready for immediate occupancy. If you take the time to look at each different area you will see that a lot of the homes listed are currently under construction and not slated for completion for 5-8 months from now causing buyers to either play the waiting game , find a rental, or purchase something that is incomplete with the hope that it will be finished to their expectations. A seasoned realtor is important to give background information on the architects and developers helping buyers by showing past product that they have completed while also showing how successful their past projects were. This can also be very helpful when considering a renovation project (in my opinion this is where the true deals are).
Naples is experiencing somewhat of a renaissance in housing developments, parks, and commercial properties. A few vacant properties will have some exciting new projects up and coming for example Naples Square and Mangrove Bay in the downtown area and Bears Paw will have a new single family development the first in 20 years. New parks on the Gordon River are currently in development making good use of our remaining green space. Mercato is a booming success adding a much needed alternative entertainment area to North Naples with new restaurants, expanded Silverspot movie theater, and lots of live music. 5th Avenue South and 3rd Street are as lively as ever; 3rd Street will begin hosting the Farmer's Market on the street again starting next Saturday and 5th Avenue will begin the 2014 season with another amazing art fair. The beach is as white and sandy as ever with the successful completion of our re nourishment project and the winter has been a little warmer than usual.
All of these variables will keep Naples one of the most desirable beach towns in the world. Now is the perfect time to buy a home here!