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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (1699)6/9/2013 6:48:38 AM
From: MoneyPenny  Read Replies (1) of 2722
 
The market in my area has recovered well. There are no homes for sale in my small development of older villas. Quite a few sold this past season. Everyone of them is owned individually and most are undergoing extensive interior renovations. Our association was able to take possession of one unit in lieu of back fees (we have many retired bank officers, attorneys and realtors living here who know their way around) and we sold the unit quickly priced to remodel. The money from this was used to do some major landscaping work as we had many 35 year old trees that really needed replacement. (non-native trees have a shorter lifespan, at least in SW Florida).

Lower income areas, north Cape Coral, Lehigh Acres, Immokalee are all getting new homes and they are selling as are the abandoned ones. This is the low 100's housing. Trailer parks are doing well and offer winter homes cheap.

Last month I drove my niece through the Port Royal area of Naples and I have never seen as much development in the 20 years I've lived here. These are typically homes selling above 5 Million. Many older single story homes and being torn down and huge homes 10k sq ft and up are going in their place.

There are still homes for sale in this area and prices are lower than they were in 2006-7 but they do sell and spec homes, furnished turnkey are very popular. I used to do the interior design and furnishing of these turnkey projects back in the day. Don't miss it at all. Here's one in construction for $16.9 million.

realtyinnaples.com

Here is an example of a sold one, scroll down to the interior details. Not a very impressive interior IMO...kind of generic. Probably done by owner, certainly not by me or my friends. <G>

realtyinnaples.com
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