Naples Florida Real Estate Mythbusters

MYTH #1 – “Homeowner’s insurance keeps getting higher and higher.”

The Florida Legislature just passed a bill to lower insurance rates in
Collier County as of June 1, 2007 by as much as 53.9% in certain areas.
Source: NBC2 News - March 1, 2007.

MYTH #2 – “Florida property tax rates go up every year.”

Collier County Commissions have agreed to lower the property tax rate for fiscal 2007 – a $300,000 home pays $1,077 in annual property tax. Florida has no state tax, and sales tax is just 6%. A bill was approved to roll back property taxes to 2001 levels. Florida ranks 45th out of the 50 states for lowest tax burden.
Source: Florida Association of Realtors. www.stateofflorida.com .

MYTH #3 – “Due to hurricanes and Sept. 11, visitors are no longer coming to Florida.”

The number of international tourists to Florida will exceed pre Sept. 11 levels. It was 45 years since a hurricane landed near Naples. The final hurricane report for 2006 was “quiet & calm, as was 1961-2004”. Naples is ranked behind Long Island, New York, being vulnerable for a hurricane strike.
Sources: The International Hurricane Research Center, working alongside The National Hurricane Center. Associated Press, Travis Reed, March 3, 2007

MYTH #4 – “The Southwest Florida economy has slowed.”

In Collier County there are 5,400 jobs created annually. Future job growth is estimated at 26.7%. Unemployment is just 2.4%.
Source: Economic Development Council of Collier County.

The Naples-Marco Island area is ranked #2 in population growth, in the U.S.
Source: www.bizjournals.com

MYTH #5 – “There is no affordable housing in Southwest Florida.”

In many instances pricing has rolled back to 2002. We have brand new
3 bedroom/2 bath homes in Naples on 1.14 acres from just $256,400.
Source: Daniel Wolkoff.

MYTH #6 – “We are going to wait for home prices to drop.”

Experts and University of Florida studies believe that prices will not drop further. In fact they believe prices will go up as inventory shrinks.
Source: www.floridarealtors.com , March 9, 2007.

MYTH #7 – “We can’t afford the downpayment and we can’t fix our credit.”

We are offering 100% financing, nothing down, and our credit repair program has helped hundreds of new home owners.
Source: Daniel Wolkoff