We could all use a little good news every now and then, especially in times like these. Lucky for you, we have some! Travel restrictions haven’t slowed down buyers and vacationers from Southwest Florida nearly as much as experts initially anticipated. Collier County has seen a significant uptick in property sales this month. In fact, sales within the first two weeks of July surpassed the entire month of June and May. The market is now the hottest it has been all year and, combined with a mix of falling home prices, low rates and an abundance of gorgeous summer weather, now is the time for you to invest in your future in Naples. Mortgage rates are holding steady at a ridiculously low rate of 3%. This is good news for both investors and property owners who are looking to expand their share in the market. The great news is, here at Gulf Coast Realty and Property Management, we know the market in Southwest Florida better than anyone else. Let us help you navigate through the waters, from purchasing a rental home to managing your properties. So, what are you waiting for? Contact us today for a complimentary consultation at 239-325-4300.
In the midst of a pandemic, rental home owners (and their tenants!) are now faced with new questions every day. Questions they, nor renters, ever thought they would ponder in their lifetime. Questions such as: If beaches close, does everyone lose beach access? If vacation rentals are banned in the state of Florida, will I be able to financially outlast the closure? Is the population low enough to allow for easy social distancing? How well is the area setup to provide Coronavirus Support? If I’m temporarily out of a job, will I be able to afford rent? If I lose my job, are there new employment opportunities in the immediate area? Are running trails and sidewalks safe enough to allow for outdoor, active social distancing? If you’ve thought about these questions, then we have some good news for you. According to WalletHub, Naples is ranked #1 when compared against 191 beach towns across the United States. Our Southwest Florida town even outranked Hawaii’s shores! These rankings were based on affordability, weather, safety, economy, education & health and quality of life during COVID-19. No other community beats Naples, which isn’t too surprising once you think about it. With features like affordable home purchasing, rental prices, good weather, walkability, lower unemployment rates, Coronavirus support and a wide variety of activities while social distancing — it almost seems like Naples was built for times like these. Choose the best beach town in the U.S. to live and rent. Contact us today for a complimentary consultation at 239-325-4300 Resources: https://wallethub.com/edu/best-beach-towns-to-live-in/36567/
There’s no denying that the COVID-19 pandemic is resurfacing the economy. It’s changed the way we do a lot of things and its made its way into the real estate market. The pandemic has led to tighter mortgage loan credit standards for new home buyers and property investors. For example, JP Morgan has issued a new policy setting the minimum requirements for a mortgage loan to a credit score above 700 and —at least— 20% down on your property. The National Association of Realtors have said the situation and lending standards could even grow more stringent if federal aid doesn’t arrive in time. However, there is a positive side to this bleak outlook. Even with all the tougher regulations and stricter policies for obtaining a loan, this could create a potential time to buy and invest in property. There are currently many commercial and residential properties that are up for sale and need to be sold soon. There will be more properties entering the market as time continues. There’s no way to avoid that. But with fewer and fewer people being able to meet the minimum requirements to obtain a loan, this could drive down the prices on these properties and increase the demand for rental units. The potential for a cheaper investment opportunity is there and, if you have been approved for a loan already, this just might be the best time for you to buy. Southwest Florida is still considered the next big boom town, with both Lee and Collier counties increasing in population over the past two years by nearly 5%. During these hard times, the potential for a cheap investment could be your diamond in the rough. Give Joe and the Gulf Coast Management Group a call today for a free consultation at 239-325-4300!
