Real Estate Matters: Warning signs for investors

Author: WINK NEWS
Published: Updated:

FORT MYERS, Fla.- The housing market in Southwest Florida has been hot for the past three years. Now it’s about to get blistering according to a report released last week that predicted that Naples –Marco Island will have a 41 percent gain in home prices over the next three years.

Is this really good news or is it a warning sign for real estate investors? Here to answer this question is WINK’s real estate expert Denny Grimes from Denny Grimes & Company.

WARNING 1: If the projection is correct, the increase won’t apply to everyone.

The $68 million home will not increase to $95 million, nor will the $10 million home increase to $14 million. The $2 million older home in Old Naples may increase $2.8 or the $300,000 home in Golden Gate may increase to $450,000

WARNING 2: This may cause danger to the market?

May cause sellers to delay making a selling decision today, in hopes of selling for 40% more in the future. May cause agents to take a too optimistic view of the future and over-aggressively price homes that don’t sell, thus hurting the market. May cause investors looking to flip and make a profit. Too many investors will hurt the market

If you have any questions you can email Denny at Denny@dennygrimes.com

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.