Naples Housing Market

Rates on a 30-year fixed mortgage increased this past week to 5.15% due to the drop in GDP and higher jobless claims.  Last year at this time the 30-year fixed rate mortgage averaged 6.03%.  The first week of March the average rate for a 15-year fixed-rate mortgage rose to 4.72%, while a year ago it averaged 5.47%.

Is the Naples real estate market at the bottom?  We will only know the answer to this question in retrospect!  As quoted in my newsletter and earlier blog, leading Florida economist, Hank Fishkind, believes that Naples has hit bottom and predicts that interest rates will rise to 8%.

Although I do not have a crystal ball, I do know that home sellers have faced reality and are willing to negotiate.  It is a perfect combination: low interest rates and adjusted home prices!

To learn more about the unique lifestyle that Naples offers, scroll to the bottom of this page and
click "older entries."

For extensive information on Naples Florida, visit www.4NaplesRealEstate.com

Posted by: Linda Loomis, Realtor
Naples real estate agent
John R. Wood Realtors, Naples Fl
Posted by Linda C. Loomis at 3/8/2009 8:29 AM
Categories: uncategorized
Tags: Naples realtor Naples housing market Naples Fl real estate Naples real estate agent Linda Loomis Fishkind John R Wood Realtors Naples Florida real estate
 

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