When I contacted a seller in Naples, the reason to sell was insurance costs. The sellers mentioned insurance costs, if you could even obtain a policy, were about the same as a monthly mortgage payment (P&I). Along with taxes, HOA fees, the monthly amount going to equity out of the total monthly payments needed to own in Naples, anyone buying into the area nowadays would be loosing out to excessives. The per monthly total out of pocket to own a $500K home in Naples would net $1.2M of home equity elsewhere on the same loan basis. Have insurance rates, taxes, and home ownership costs come down significantly in Naples since 2007?
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