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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/

2020 is shocking real estate predictions across the globe. A once highly regarded real estate investment opportunity, vacation rentals are now projected to experience a $7.1 million dollar revenue loss this year, with over 25% of the users dropping out of the market. Not to mention, those users are not projected to return to 2019 numbers until 2024. Naples is predominately a 55+ community, which is also the age demographic that is the most concerned about their risk levels and the least likely to travel at the moment. Your vacation rentals in Naples may be more impacted than your vacation rentals in Fort Myers Beach. Times are tough for those who have multiple mortgages on personal and vacation rental properties. You are not alone in feeling the pinch with vacation rental bans and consumer uncertainty about travel. While travel isn't fully gone, it has stunted due to health and safety concerns and regulations. The drive market demand for local travel accommodations is anticipated to increase, however, the fact remains that you're not penetrating the same global audience as you did prior to COVID-19. Competition will increase in an already highly competitive market. Here are two options if you’re in a bind: 1) Sell the Vacation Rental The housing market is still a viable option. In Naples, the sale $ per square foot is up by .51% from last year. Sure, the mortgage process has changed and lenders are tightening their standards. However, with the right buyer, you may be able to step out of the vacation rental industry fairly smoothly. 2) Switch it to an Annual Rental The perk of tightening lender requirements means that some property owners will not be eligible for a mortgage, requiring that they rent. Southwest Florida remains one of the fastest growing areas in the United States, which means an annual rental may be a more reliable source of income at this time. Also, it may lead to a higher demand as we continue to feel the economic impacts from COVID-19. We're here for you every step of the way, from buying an investment property to selling and renting. Call us for a complimentary consultation, 239-325-4300. Resources: Statistica

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!

Joe Oster, President and CEO of Gulf Coast Management Group, has recently graduated with high honors from the Florida Property Manager Designation Course. Provided by Larson Educational Services, a real estate school in Fort Myers and Naples, this course was completed in two days, covering, with heavy detail, the practical and legal aspects of leasing and managing single-family and small residential investment properties. What this means is – coupled with his accounting background and personal experience owning real estate, Joe has paper-proof of his expertise in real estate management and investing. And, with Southwest Florida being in one of the fastest growing regions in the United States, having both knowledge and experience in investment properties goes a long way. With interest rates dropping, affordability increasing and Naples recently ranked the #1 “boomtown” in all Southern States by GoBankingRates.com — now is the time to invest into Naples and Southwest Florida. So, what are you waiting for? Contact Joe and the Gulf Coast Management Group for a free consultation today!

Joe Oster, President and CEO of Gulf Coast Management Group, was recently selected to be featured in Top Agent Magazine ! "I was an accountant by trade and I was very much involved in the developing of properties, new construction, and managing rental portfolios, so I've always had an interest in real estate." says Joe when thinking back on what led him to property management. Now, Joe's company, Gulf Coast Management Group, manages over 150 properties within Lee County and Collier County. An uncomplicated fee structure, expansive online presence and clear communication have led Joe's team to bring added value and a friendly full-service approach to both owners and tenants. We encourage you to schedule a free consultation with Gulf Coast Management Group today to discover how you can earn residual income in one of the Happiest and Healthiest Cities in America.

1. Mortgage Rates are Predicted to Fall to Record Lows in 2020 In December 2019, 30-year fixed-rate mortgages reached an all-time low and certified financial planners like Matt Frankel, CFP anticipate mortgage rates to continue to fall to all-time lows in 2020. 2. Naples Market Remains Healthy for Property Management The demand for more affordable housing is at an all-time high across the United States as the National Low Income Housing Coalition reports the need for more than 7 million affordable homes to meet the current housing demand. Meanwhile, rental rates continue to rise, while the Collier County unemployment rate and median closed price continues to drop — a great time in the market to consider owning a rental property. Average rent in Naples, Florida as of November 2019 is $1,552 — a 7.02% increase from last year Unemployment rate down by .4%. Median closed price is down 3% to $330,000 1 Bedroom apartments in Naples rent for an average of 10.27% more than last year 3. Take Advantage of Low Tax Opportunity Zones Low Tax Opportunity Zones, established by the federal Tax Cut and Jobs Act of 2017, encourage long-term investment and job creation in targeted communities by reducing taxes for many job creators. They enhance the ability to attract businesses, developers and financial institutions to invest in these targeted areas — distressed communities — by allowing investors to defer capital gains taxes through investments in federally established Opportunity Funds. They allow private investors to support distressed communities through private equity investments in businesses and real estate ventures.

Based on social life, tax-friendliness and medical care, SmartAsset, a New York financial technology firm says that there simply isn’t much better than Naples, Florida. For 3 years in a row, our amazing city has taken home first place. The population in Southwest Florida is has become one of the fastest growing in the United States over the last two years. As more people flock to Southwest Florida, the growth and new home construction to meet the demand is evident, and on the rise — so are the rental prices. A recent article by Wink News shared that many renters in Naples and Southwest Florida are seeking more affordable options as rental prices within new construction communities continues to skyrocket. As of October 2019, a one-bedroom apartment in Naples rented for $1,271 on average, an almost 11% increase from last year. There’s opportunity in Naples for those who are interested in buying an investment property that perhaps has fewer luxuries and amenities but meets the increasing consumer demand for cost savings. After all, for many consumers — location is just as important, or more important, than luxury.

Economic indicators in Florida are favorable as attitudes about the future economic condition continue to improve.