Market Watch 2021, pushed back because of the coronavirus pandemic, is returning with a new format, a new lineup of guest speakers and the marvel of an intense, ongoing seller’s market.
From 5 p.m. to 9 p.m. Thursday, June 3 at Hertz Arena in Estero, some of Southwest Florida’s most experienced real estate brokers, property appraisers and experts will convene. They will deliver to a live audience the current state-of-affairs of residential and commercial real estate trends in the region.
Face masks will be required while walking around in the common areas of the arena but not while seated for the presentations and not while eating in the VIP area.
David Cobb, regional director of Zonda Advisory since 2013, has more than 40 years of professional real estate experience. He will serve as the keynote speaker of the event sponsored by The News-Press and Naples Daily News. Cobb has managed multiple home building divisions in Texas, Louisiana, Tennessee and Florida, working for large, public home building companies.
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“We’re going to review where we were and where we are now and where we’re going with respect to the economy and with respect to the housing market,” Cobb said. “The main issue with where we are with the housing market right now is we have a real shortage of inventory. It’s a seller’s market. How long it remains a seller’s market remains to be seen. It doesn’t look like it’s going to end any time soon.”
Cobb noted the market has some similarities to 2004 with soaring prices, but the differences from that time abound, too.
“Back then, people were speculating on real estate,” Cobb said. “That started in about 2004 and went through about 2006 or so. You had amateurs in the real estate market trying to play the market and make quick profits on houses by buying them, holding them for a short period of time and flipping them for a profit.
“We were building about three times as many homes as we really needed once you stripped away the speculation that was happening in the market. We’re not doing that this time. These are real buyers. They’re looking to move into the home and live there for the most part. There’s some investment going on, but not to the degree as last time.”
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General admission tickets cost $30 per person. Sponsorships and reserved tables start at $500. More information is at www.MarketWatchFlorida.com.
VIP access must be purchased in advance and costs an additional $25, providing open bar and food in the Hertz #1 Club from 5:00 to 6:30 p.m. A cash bar will be available for purchase for general admission attendees without VIP access.
The 2021 panel line has more than 100 years of real estate experience:
Michael Polly: Broker with Royal Shell
Budge Huskey: Chief Executive Officer with Premier Sotheby’s International Realty
Claudine Leger-Wetzel: Vice President of Sales & Marketing, Stock Development
Randy Mercer: Founding Partner, CRE Consultants
Adam Palmer: Managing Principal, LandQwest Naples
Matt Simmons: Real estate appraiser and broker with Maxwell, Hendry & Simmons
Polly predicted the limited inventory of homes would stretch into 2023. He will discuss that theme and more during a panel discussion.
“I think it was Stephen King who wrote, ‘Sooner or later, everything old is new again,’” Polly said. “Waterfront has always been king and in most of our areas was the first to build out. Now the majority of homes on the water in some communities are nearing 20 to 50 years in age. We will see renovation and restoration increase in our waterfront and near waterfront communities.”
Connect with this reporter: David Dorsey (Facebook), @DavidADorsey (Twitter).