Hello Naples Friends! I've noticed a little uptick on Naples luxury real estate foreclosure and short sale interest and to be honest I'm not sure why since we clearly saw the bottom of our market in 2010 but I've compiled a list of all the short sales and foreclosures available in the Naples neighborhoods I cover...

Here are all of the Naples luxury foreclosures and short sales currently available in Naples Florida's most luxurious locations:

Aqualane Shores:
Foreclosures: 0
Short Sales: 0

Audubon Naples:
Foreclosures: 0
Short Sales: 0

Bay Colony Naples:
Foreclosures: 0
Short Sales: 0

Collier's Reserve:
Foreclosures: 0
Short Sales: 0

Coquina Sands:
Foreclosures: 0
Short Sales: 1

Grey Oaks:
Foreclosures: 1
Short Sales: 1

Mediterra:
Foreclosures: 0
Short Sales: 2

Moorings:
Foreclosures: 0
Short Sales: 0

Naples Cay:
Foreclosures: 1
Short Sales: 0

Olde Naples:
Foreclosures: 1
Short Sales: 1

Park Shore:
Foreclosures: 0
Short Sales: 1

Pelican Bay:
Foreclosures: 0
Short Sales: 0

Pelican Marsh:
Foreclosures: 0
Short Sales: 2

Pine Ridge:
Foreclosures: 0
Short Sales: 0

Port Royal:
Foreclosures: 0
Short Sales: 0

Quail West:
Foreclosures: 3
Short Sales: 0

Royal Harbor:
Foreclosures: 3
Short Sales: 1

Tiburon:
Foreclosures: 0
Short Sales: 0

Vanderbilt Beach:
Foreclosures: 0
Short Sales: 2

As you can see there are 20 short sales and foreclosures in the 19 locations I cover.  That's honestly about 18 more than I expected! Is this a reason for buyer's to hoot and holler? There are over 1,300 listings in those neighborhoods so the overall percentage of distressed properties is 1%.  It is however an indication that there are still deals to be had in these locations but opportunities may be fading fast.  The bigger story is the supply and demand situation we have going on...see what the supply is in the following locations now:

Aqualane Shores:
7 months of inventory = UNDERSUPPLIED

Audubon Naples:
13 months of inventory = OVERSUPPLIED

Bay Colony Naples:
6 months of inventory = UNDERSUPPLIED

Collier's Reserve:
16 months of inventory = OVERSUPPLIED

Coquina Sands:
4 months of inventory = UNDERSUPPLIED

Grey Oaks:
12 months of inventory = STABLE

Mediterra:
10 months of inventory = UNDERSUPPLIED

Moorings:
7 months of inventory = UNDERSUPPLIED

Naples Cay:
22 months of inventory = OVERSUPPLIED

Olde Naples:
8 months of inventory = UNDERSUPPLIED

Park Shore:
8 months of inventory = UNDERSUPPLIED

Pelican Bay:
8 months of inventory = UNDERSUPPLIED

Pelican Marsh:
5 months of inventory = UNDERSUPPLIED

Pine Ridge:
9 months of inventory = UNDERSUPPLIED

Port Royal:
16 months of inventory = OVERSUPPLIED

Quail West:
15 months of inventory = OVERSUPPLIED

Royal Harbor:
8 months of inventory = UNDERSUPPLIED

Tiburon:
16 months of inventory = OVERSUPPLIED

Vanderbilt Beach:
12 months of inventory = OVERSUPPLIED

As you can see 7 of the 19 Naples luxury neighborhoods are still experiencing an oversupply of inventory which IS excellent news for a buyer but you want to make your selections early this year. 

Something different this year compared to the last 3 years is by October most sellers start to feel an air of confidence because "season" is just around the corner and high traffic with purchasing expectations is almost here.  This year, there's an election...uncertainty is a buyers friend. Sellers are still very negotiable right now compared to most year so it could be your best time to cut your best deal is now til election day.

Some of you have already figured that out and made appointments with me.  For that reason, my calendar is filling up.  Do we need to get together this season?  If so, PLEASE call me today so I can get you on my calendar, afterall, I provide this content so I can work with you.  I don't want to miss the opportunity to assist you.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Audubon Naples Florida is on it's way to recovery with two new pending properties today.

Let's start with the Audubon real estate statistics:

There are 28 Audubon homes on the market and 1 Audubon condo with 3 homes currently under contract.

There are 6 Audubon condos that have sold during the past year.  That means if you are interested in an Audubon condo, you have the choice of one at this time.  This also means that if you own an Audubon condo and you've been waiting for the market to stabilize before putting yours on the market, now would be a great time to do it with a couple of words of caution.  Just because inventory is really low doesn't mean you get to pick any price you want and can expect it to sell.  I am seeing evidence all over town right now of people who are really inflating prices because they think since they're the only property on the market all rules go out the window.  That's simply not true. 

If you own a Montclair Audubon condo you have a terrific opportunity right now.  If you list your Audubon condo today relatively close to fair market value, you should have NO problem getting it sold but make sure you're at least within fair market value range because pricing it considerably higher is only going to lead to longer than necessary market times as historically proven.  Contact me for more details about how to get the most for your Audubon condo in the least amount of time.

If you're thinking about buying an Audubon condo, contact me direct.  There's a story here but since there's only one on the market I probably shouldn't single this one out publicly... :)

Here's what's happening with the Audubon home market:

Currently there are 28 Audubon homes on the market with 20 sold during the past 12 months and now 3 under contract leaving a 22 month supply of inventory.  This is excellent news if you're a buyer because you have more talking points for a negotiation here than many other locations around Naples.  Just glancing over the inventory I see a home priced at a TERRIFIC value. Unfortunately, I see some others that don't really make sense as far as pricing is concerned and even though the market has not leveled pricing (prematurely) is starting to rise.  If you're thinking about buying an Audubon home, make sure you or your agent is doing the homework because there are some points you want to keep your eye on here. 

Does this look like a time to buy in Audubon or what???

List prices for Audubon single family homes is up 7% compared to the Audubon homes that have sold.  If I were working with an Audubon seller and they wanted to sell this season, I would seriously refrain from padding prices right now unless they have something exceptional to sell but there are several strategies to get the most for what you've got.  Staging is one of them.  Call me for details!

If you are an investor who likes to remodel and flip there are some clear opportunities here since some of the lower priced homes are in need of a facelift.  The number of buyers who want to sign up for a colossal project aren't nearly as large as those who want to park their golf shoes at the door and start experiencing life in Naples right away.  They're willing to pay for a home if they don't have to gut and start over. Let me help you identify the best property to pretty up so you can make a profit!

If you're thinking about purchasing a Naples golf home or condo, call me.  I offer something unique to the Naples market and that is a 5 point buying strategy.  If you and I haven't talked about what that is, call me.  It gives you the best shot at cutting a great deal in Audubon or any of the 20 Naples neighborhoods I cover. 

If you're not purchasing in one of my Naples neighborhoods where I work, no worries.  I have a whole team who covers the entire market and can direct you to a professional who can do a fabulous job for you!

PS~ We're only on our 13th day of Fall and some of us are already getting snow! It's time to pull the Naples real estate trigger my friends!  That reminds me of a joke... What did the big furry hat say to the warm woolly scarf?  You hang around while I go on ahead...ha ha burrrr!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Audubon Naples Florida offers some of the lowest priced square footage to be had in a Naples Florida luxury golf community!  Not to mention there have been some amazing deals in Audubon lately.

For example, 272 Cheshire Way was marketed as "reduced nearly 25% for a quick sale".  The Audubon property was listed in November for $1,575,000, reduced to $1,499,000 in March and then reduced again to $1,299,000 at almost the end of April. It took 4 days for the property to go under contract and just closed for the incredible price of $1,025,000.  That's only 238 per foot!  The Audubon home was built in 2004 and offered 4,300 square feet of living space.  That's a steal!

There's still a bit of an oversupply in Audubon Golf and Country Club right now so buyers still may have an upper hand.  That doesn't necessarily mean every seller is interested in discounting their home like the example above but it could mean you can negotiate one heck of a deal on a great house. 

There are currently 40 Audubon homes for sale, 2 pending properties and 14 Audubon sales for the last calendar year. Most of what has sold in Audubon was closed for less than 1,000,000 an interesting figure since folks once couldn't tip toe into the neighborhood for less than 1,000,000.

If you're considering purchasing in Audubon, give me a shout, there's a home available for less than $500,000 (listed at 221/square foot).  There's also some magnificent properties for sale right now and with a location like Audubon, now is the time to get that west of Tamiami Trail home for less.

If you're thinking about selling your Audubon home or Audubon condo, I'd hold off if you can for now and let some of that inventory sell off.  If you can't wait, be prepared to price it right and list it with a smart Realtor! :)

Either way, contact me and I'll be happy to help you accomplish either goal!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Audubon Country Club has always allowed you to get so much more house for your money there.  Most people with any real estate sense would presume that it must be the location.  Audubon Naples Florida is located in north Naples...and I do mean just about as far north as you can go on Tamiami Trail before you're in Bonita Springs and Lee County.  I've had a few buyers refuse to purchase there because they didn't feel like they were close to any of Naples most desirable shopping and dining districts and the grocery store isn't right in their backyard like one is in many other comparable Naples golf course communities but let me tell you what Audubon does have to offer.

First and most important, Audubon is located on the west side of Tamiami Trail making the proximity to Naples and Bonita Springs beaches very close.  Not necessarily walking distance close (unless you're pretty fit and up for a lengthy walk) but within a 5 minute drive to either beach. 

The other part about Audubon Country Club is there is some FABULOUS construction there.  Newer homes still exist along with recently remodeled and some product that's ready for a redo making there something for just about anybody whether that be the one who wants to bring the flip flops and toothbrush and hit the beach or those looking for a deal and handyman project. 

At one time you couldn't purchase a single family home for less than $1,300,000.  A home sold last year for just $425,000 back in February...but it appears that's when the market bounced because 7 more properties have closed since for considerably more. 

The good news is you can still buy outstanding properties there for a song (by Naples golf course community standards)!  The lowest priced listing now is just under $600,000. Not bad!

For more information regarding Audubon Country Club or to see listings in Audubon Country Club, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!