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Naples Homes For Sale

Options Galore in Naples Real Estate

A sun kissed stretch of land filled with the best gulf-front homes, white sandy beaches, filled with all of the amenities of modern day living, Naples real estate is one of the most enjoyable parcels of land in the country today. Investing money in real estate is still one of the safest ways to ensure that you are putting your income to good use. But with the many options out there, choosing Naples can be one of the most profitable decisions you make.

Recreation

Strategically located near the gulf and sea, and scattered with glorious beaches, there are many options when it comes to buying property in Naples. One of the best features of the land, however, is its capacity to hold plenty of recreational real estate in the area. At present, Naples is one of the fastest developing areas, and many shopping malls and commercial districts are being planned and built. If you choose to invest in land in Naples, some of the recreational options for you are golf homes and clubs that are perfectly suited for the rolling patches of grass land in the area, complemented by the fine weather. Near the canals and on the gulf, one the other hand, you can choose to transform your real estate into a boat dock for people to enjoy the waves while staying dry.

Vacation and retirement

Naples has a little bit of everything for the vacationer and retiree alike. There are plenty of coach homes, villas, and town houses, to choose from if you can’ afford a luxury home or gated community. There are also dedicated retirement complexes designed specifically for the needs of the retiree. In particular, condominiums are growing in popularity for people who want property without the hassle of maintenance. The golf courses found inland are another hot item for retirees who are looking for the perfect and highly relaxing home after years in the workplace.

Commercial

Finally, real estate investors who want to make their property work for them will also find many commercial real estate possibilities in Naples. From Bonita Springs to the Venetian Bay, there are many shopping strips cropping up all over the Naples area. The commercial real estate options are many, and some of the most popular are trendy shops, fine dining restaurants, and vacation rentals.

With the large variety of Naples real estate options that are available, choosing to invest here is one of the safest places you can put your money. The economic climate may not be the best we’ve had, but the Naples climate is and that isn’t going to change any time soon. Thousands of people want a taste of paradise, so investing in paradise is always a good option. Whether you’re after commercial property, a holiday home or the place of your dreams, the property market in the Naples area is buoyant enough and varied enough that it’s bound to have something perfect. So why hang around? Get in there before someone gets it before you!

John Cannon has been financing big real estate loans for $25 billion-asset Capmark Finance Inc. of Horsham and its predecessors since 1985, and he’s never seen business this slow.

“There’s nothing being bought and sold,” Cannon told me by phone from the vast Virginia headquarters of government-controlled home lender Freddie Mac, one of the few outfits still pumping millions into buildings.

Capmark financed $1.5 billion in apartment deals during the first half of the year, down by half since early 2008. Almost all this year’s lending was refinancing loans, funded by Freddie and Fannie Mae, and the U.S. Department of Housing and Urban Development.

“They’re the only viable lenders in U.S. commercial real estate right now,” and all they do is residential real estate, not offices or industry, Cannon said.

He’s seen slow markets before. The early 1990s, when the savings banks failed. But that “was a supply issue. You saw a lot of empty buildings. Now it’s a liquidity issue.” Banks aren’t lending.

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He’s hoping things have hit bottom. Fannie and Freddie tightened credit sharply last year. Lately, they aren’t requiring quite so many escrow payments, Cannon said hopefully. “Terms are getting looser. Spreads are coming down.”

It’s not that loan rates have fallen. It’s the spread between what money costs and what Fannie and Freddie charge that tells the story, according to Cannon:

Back in the mid-2000s, loans were approved at less than 1 percent above the benchmark 10-year Treasury rate. That zoomed to 3.5 to 4 percent above the benchmark during last fall’s credit crisis, after the Bush administration took control of Fannie and Freddie. Now it’s around 2 percent, Cannon says.

But banks still aren’t coming back into the market. It’s not just that they’re shy. There’s also “the disconnect between buyers’ and sellers’ expectations,” Cannon told me. “Guys bought a building five years ago for $10 million. They don’t want to sell for $8 million.”

NJ to PA

Archer Daniels Midland Co., Decatur, Ill., says it’s closing its Glassboro cocoa plant and ending jobs for 53 workers there. The work is moving to ADM’s new 500,000-square foot plant in Hazleton, says spokesman Roman Blahoski.

Bernanke or Summers?

Democrats in Congress and the Obama White House are plotting to remove Federal Reserve Chairman Benjamin Bernanke and replace him with Obama’s chief economic adviser, Larry Summers, at the end of his term next year, writes veteran bank analyst Richard X. Bove of Connecticut-based Rochdale Securities.

Summers is the brainy Main Line native, Harvard economist, and ex-Treasury Secretary who’s trying to re-regulate the financial institutions he helped deregulate under President Bill Clinton, setting the stage for the current mess.

Bernanke or Summers – what’s the difference? “Mr. Bernanke has demonstrated a willingness to act to defend both the economy and the financial system. Conversely, Mr. Summers has written the bulk of the proposals to regulate the financial industry,” which Bove says “would dramatically restrict fund flow to the economy” and kill the recovery like the government did when it tightened credit rules too soon in 1937. (But when’s the right time?)

Bove credits Bernanke, ex-Treasury Secretary Henry Paulson, and FDIC chief Sheila Bair with “bold, innovative action” that salvaged the banks and prevented a full U.S. takeover. Bush and Obama at that time “did nothing.” Congress was “the proverbial deer in the headlights.”

Yet “the same people who were incapable of acting when there was a clear need for action will now make the decision as to whether the man who helped save the system should be removed.”

Bernanke is set to testify before the House banking committee next Tuesday. Expect Fed critics to ask how he’ll reverse the scary growth in the money supply without stalling the economy.

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