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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (5822)	10/3/2002 11:18:07 AM
From: JakeStraw	Respond to of 306849

>>I guess I'm saying I think Naples-Sarasota will be Miami-Palm Beach in 20-30 years I certainly hope not! Naples and around Marcos Island is beautiful!

To: JRI who wrote (5822)	10/3/2002 11:18:25 AM
From: organicgerry	Read Replies (1) \| Respond to 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.