Tactics Used to Up Naples Housing Prices
Extremely fast appreciation of Naples housing values and already high prices are starting to worry locals and outsiders interested in investing in the area. However, Naples real estate market watchers believe that the Naples housing market is starting "to soften to the point where median prices may actually dip next year," and they’ve noted that property is remaining on the marker longer because there is little bidding going on.
There are various reasons as to why experts believe that the price of Naples housing has been increasing so rapidly. Mike Timmerman, the Florida managing director for Hanley Wood Market Intelligence, says that speculator flipping may be causing the increase. He estimates that more than half of all Naples housing listings were initially bought by real estate speculators and immediately put back on the market at a higher price (flipping).
Another tactic to raise prices is listing Naples housing as waterfront property. Not only is Naples on the Gulf of Mexico, but it has many bays, inlets, estuaries, lakes and ponds, making the $1 million or more asking price for most “waterfront properties” excessive.
There are various reasons as to why experts believe that the price of Naples housing has been increasing so rapidly. Mike Timmerman, the Florida managing director for Hanley Wood Market Intelligence, says that speculator flipping may be causing the increase. He estimates that more than half of all Naples housing listings were initially bought by real estate speculators and immediately put back on the market at a higher price (flipping).
Another tactic to raise prices is listing Naples housing as waterfront property. Not only is Naples on the Gulf of Mexico, but it has many bays, inlets, estuaries, lakes and ponds, making the $1 million or more asking price for most “waterfront properties” excessive.
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