Real Estate Experts Glad With the Progress In The Industry

Christina Cepero of reported that the local real estate industry is on its way to recovery. Pat Neal, president of Neal Communities, which plans to build homes in Naples as well as Estero and Fort Myers said, “We’re here in Collier because we think it’s the hottest market in Southwest Florida.” He added, “We anticipate 30 percent growth in our base market this year.” Pat Neal is one of four speakers who participated in a discussion on 2013 emerging trends in real estate held by the Urban Land Institute at Grey Oaks Country Club.

Rich McCormick, vice president of land at Pulte Homes, which has developed nine communities in Fort Myers/Naples said, “Our recent earnings release – over 27 percent increase in sales in last quarter than we did the year before.” He added, “We’re having a very good fall. October and November is going to lead to a strong first quarter.”

The report also mentioned that McCormick said Pulte’s sales strategies have changed immensely, offering more options to buyers. According to the experts, “People don’t have the same buying power that they did in the past. They really want to make the choice – what’s important to them.”

Best selling Naples, Cape Coral properties are the ones that have the open space. Since the state of Florida has tropical climate, outdoor living remains a huge deal with home buyers. Moreover, people are looking to get more from their investment and they are seeking inclusive amenity packages.

Experts say that other signs that show that the real estate industry is recovering are that housing prices are on the rise across the United States and that foreclosures have slowed. In the report of, in October, lenders in Lee County filed 686 foreclosure lawsuits, which is a slight increase from the 567 foreclosure lawsuits in September. Moreover, the inventories of for-sale properties on the market are decreasing are good signs for the industry. In actual fact, inventories of for-sale homes have plummeted 24 percent in other states from a year ago. Another indication is that mortgage rates are at record level lows.
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