The property value upswing continues. Both Lee and Collier counties are reporting expected boosts to property values in almost all areas of the counties, according to numbers released Friday.
And both had increases in nearly every area — cities, unincorporated areas and fire districts — for the first time since the recession. Only one fire district in Collier experienced a decline.
For the second year in a row, Lee County had its property values increase after several recession-era years of decreases.
Across the county, property values for 2014 are estimated to increase 5.48 percent from last year’s final appraisals.
That translates to an increase of about $2.99 billion, from about $54.6 billion in 2013 to $57.6 billion estimated for 2014.
Collier County’s property values increased by 6 percent in 2014, up by $3.7 billion to $64.3 billion from $60.7 billion, according to the Collier Property Appraiser’s Office.
The increase represents the largest annual jump since before the recession and continues an upward trend for the counties.
It’s a very good sign. There are a lot of investors and people coming in and buying, and they’re using their own money, not the banks.
And these numbers could still change for the better. Last year, Naples’ estimated 4 percent turned into a 7 percent final increase, and this year that if numbers change at all, it should be for the positive.
To buy land or real estate in Lee and Collier Counties and take advantage of the great upswing in property values, contact a member of the Gratia Group Team at (239) 333-2221.