Our January 2016 Speaker's Meeting was most informative since our members and guests received first hand information about Naples residential real estate. Cindy Carroll, an expert real estate appraiser , has been in the appraisal business for many years and has seen boom and bust real estate values.
Cindy spoke about the most recent, 2005- 2015 real estate market and how values peaked in 2005-2006 followed by a rapid decent in values. Many speculators found themselves holding property only to be forced into "short sale" and also many properties landed in foreclosure.
The builders returned in 2012 and by 2013, they were building in errnest. By 2014-2105 the inventory of homes still fell short of demand but the inventory has begun to satisfy demand and the market is now considered to be healthy.
Naples encompases a large area and market conditions vary by location. Near the water locations are still the top value and inner locations in the northeast portion are not increasing much in value at this time. Ms Carroll stated many facts that affects property values and categories of golf community homes as well as newer residential communities which have not stressed on being a golfing community. She stressed that golf courses are expensive to build and maintain and many have opted to skip the golfing aspect.
Questions about Vanderbilt Country Club values were asked and from the little MLS listings, Cindy said it is times difficult to have a fair appraisal. She stated that condo values have increased handsomely and that the fact our community has upgraded our fitness center, clubhouse and golf course our values will only increase.
The meeting ended with a token of appreciation for the time Cindy had taken from her busy schedule to inform our members.
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