03 | 23 | 2011
Naples Rises From Florida Housing Swamp as Wealthy Buyers Return
Land prices are rising as the real estate recovery takes hold, according to Steve Hagenbuckle, managing principal of real estate investment firm TerraCap Management Corp in Cape Coral, Florida. Undeveloped land with zoning approvals in Estero, north of Naples, sold to a public builder he declined to name for $40,000 per quarter-acre lot. Eight months ago, Toll Brothers Inc. (TOL) bought similar land for $10,000, he said.