Recently, someone asked me how historic homes were weathering the current economy. I ran some quick stats to see how they were doing in the Heritage Hills district.
Today's look at real estate market trend answers the question:
What is the average price difference on a price per sq. ft basis (net of seller concessions) between individual sellers and bank and government sellers in the Harvey Park neighborhood?
The sample size consists of 789 sales over the past thirty seven months. The graph shows there is a significant discount associated with the distressed sales. Over time, the average discount is about 23% (rounded).
In a recent Naples Daily News article, it was reported that model homes are nearing completion in the Marsh Cove edition at Fiddler's Creek. This is great news in the luxury home market, as historic properties have seen low inventories (and consequently, suffering sales) in recent months.According to the article, the area will open with a little over 100 single-family homes ranging from 3,600 to 4,200 square feet in a Spanish Colonial style. Some waterfront property and a golf course view should serve to drive solid values starting around $860,000.I intend to work closely with the primary lending institutions who will be financing those mortgages and have already been involved in several similar developments. As a result, I will be in Marsh Cove a bunch. It's just one more reason to rely on Palm Appraisals for your Naples area valuation needs.For the full Naples Daily News article, click here.