Ouch! Have We Hit Bottom Yet

The Naples Daily News ran an article reporting on the "state of the area" at Southwest Florida Regional Economic Outlook Conference in Fort Myers on Thursday afternoon. According to economist Henry Fishkind, Southwest Florida's real estate housing market is at the bottom of its slump as indicated by a leveling of real estate transactions. Although the absorption of the 12 month inventory in Collier may take time, if Fishkind is correct, maybe the time to jump off the fence is now. In Naples, there are some bargains to be had in quality locations such as waterfront, west of 41, downtown and select gated private golf course communities. Since most sellers in highly desirable locations have the ability to hang on forever, although prices have adjusted, there are fewer opportunities and these will be the first to go. Think of your real estate purchase as you would an equity - buy the best quality within your price range. And, buy at the bottom.