Naples Luxury Homes

Naples luxury homes and Naples real estate in general has some very powerful demographic drivers that continue to fuel Naples real estate demand. The first boomers turned 65 in January and according to active seniors real estate developer Del Webb, many are considering Florida for a new home. Naples homes for sale specifically have been heavily shopped this year as sales figures continue to show increased demand in this luxury real estate community. Sales last month for luxury homes were up significantly for the fifth straight month and also up sharply for the 12 months ended May 2011. Foreclosure properties now make up a small part of total sales. In the coming two decades, boomers will start flooding the market on the supply side up North, while fueling new demand for Naples Florida properties.

Florida foreclosures have been plentiful, but not these days. Today it might be better to describe Florida as the land of "under-priced" real estate. It was recently reported that a full $3 billion of Florida real estate value was slashed in Florida. Meanwhile, international buyers purchased $40 billion last year in U.S. homes. There has been a lot of interest in Naples Florida real estate according to one recent poll by Trulia, a website leader in MLS syndication on the internet. Naples luxury homes came in number seven (7) in the top 20 real estate markets that interested international buyers.

There are really two markets in the U.S. today, specific Sunbelt properties markets, and other markets. Only specific Sunbelt markets are doing well today. The mortgage interest tax deduction is a big benefit for people in higher tax brackets. At retirement time, no mortgage means your monthly expenses are reduced, and you have some equity to leverage whether through a reverse mortgage, or other line of credit. The Naples foreclosures opportunity is pretty much over here, especially for Naples condos for sale as there is only a nine month supply. Demographics and affordability along with the Sunbelt location are the drivers here and that will remain for next two decades.

Momentum is picking up here and summer is appearing as a season for strong sales according to a report released by the Naples Area Board of Realtors® recently. It was also reported that the single family home median price on closed sales in May jumped another 6%. Overall inventory was down a whopping 14% in May when compared with May 2010. More astounding is that in the Naples condos for sale category, condo sales increased 19% for the 12 months ending May 2011. In the $1 million to $2 million Naples luxury homes price category, sales increased 164% for the 12 months ending May 2011. With these kinds of numbers, there is clearly a message for would-be investors and boomers nearing retirement. That message is that the window is closing on cheap Naples real estate.