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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: JRI who wrote (5822)10/3/2002 11:18:25 AM
From: organicgerryRead Replies (1) of 306849
 
I live in Naples and always thought it was imune to falling real estate prices for the reasons you mention.

Many people here are retired with substantial assets in stocks and money market investments. I assume they are feeling pinched as stock values and interest rates on CD's drop.

I think recently the market has softened. Houses are taking longer to sell, and many are selling for 10-20% below listing prices.

A realtor told me many snowbirds from Europe, especially Germany, are not returning.

I still think the area will grow with in-migration, but the bottom line is that I think real estate values will be flat at best, and could drop if markets continue to drop.
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