In a city the rich and famous call home, there are some housing bargains under $100K

Welcome to Naples, Florida.  World renowned for the high-class lifestyle, a winter retreat for celebrities and fortune 500 CEO’s.  Naples has some of the most exclusive addresses in the country.  Where extraordinary mansions set along a beach which was once voted by the travel channel as America’s best all-round beach.  Where the county for which Naples is located is rated as the highest income per-capita in Florida and the 20th highest in the country.

You may wonder how on earth you could even vacation here, let along be a year-round resident. Can you live in paradise for far less than the average home sold in the United States? The answer is, yes.

The real estate bubble did hit here and it hit hard, many greedy investors and speculators looking to get rich over night, jumped in too late and too high.  Now though, prices are down to as low as 2001 values.  How about the choice of hundreds homes under $100K in Naples and surrounding communities.

How about this one, 3 bed plus a den built in 2006, on just over 1 acre, outside of Naples is priced at $50/sq ft.  Or a 5 bedroom home on an acre, built in 1994 for just over $70,000.  Or this one, which is about 25 miles from downtown Naples is a 4 bedroom home on half an acre, built in 1997 for $69,000.

How can this be when the median home values of $500K are more than double the national median home prices? Foreclosures.  These 3 homes are just a handful of bank-owned homes in the area.  The owners of which are willing to give some ‘better than the going rate’ on new home loans. 

We have seen some tough economic times in the last 12 months and over the last few years, we have seen some housing prices plunge and unemployment rise.  But if you weigh your options and find that you don’t like the city you are living in, the job you are working, the home you have, the mortgage you’ve got, or maybe you are just ready for a change.  Consider the possibility of living somewhere nice, where the weather is great, the beach is just a short drive away, crime is low and the exciting city of Miami is within 2 hours drive, and Orlando in all its glory is within 4 hours.

Like many first time buyers making good use out of the $8,000 the government is handing out, maybe this economic struggle will be the best thing that’s ever happened to you.  Like the rich and famous, now you can also call Naples, home.

Visit www.realnaples.com for more information

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JMS11/20/2012