It appears the tables have turned in favor of the sellers for Bay Colony Naples Florida
this year. With barely over 9 months of inventory buyers were found scrambling for the best Bay Colony
choices this year and some were simply not happy about it.
As an example I received a call from a lady earlier this season who sounded exasperated about an experience she was going through with her husband. They had just tried to purchase a Bay Colony beachfront condo
and had lost the deal because they ended up in a competing situation and lost. They felt like maybe they had been slighted and wanted to know my opinion about what was going on in the Bay Colony market.
Yes, it did heat up quite considerably this year and some buyers found they had lost their negotiating power. In fact I had buyers who simply decided not to purchase this year because he's hoping if the election doesn't go well, they'll have more power next year. He's not the only one who felt that way, I had two buyers who are hoping if taxes go up considerably next year, some Bay Colony sellers may decide to sell which will push inventories up a little and give buyers the negotiating power they've grown accustomed to during the past several years.
Current inventories are light and even though we had a ridiculously mild winter up north, many buyers still have their eye on acquiring Bay Colony property
which is a strange phenomenon in itself. Not that we don't sell property when it's nice up north...we just don't sell alot of it. As an example, there were 7 properties in Bay Colony that went under contract in April last year (when many were experiencing record snow falls. There are currently 7 Bay Colony properties under contract so far this April). Demand is increasing. Period.
The other point that has me a little worried for future Bay Colony buyers is we have sold almost all entry level Bay Colony properties. As an example, for just under one million, you can acquire a Bay Colony condo
. That is the lowest priced unit to get into Bay Colony, it has been at that price for awhile.That one is located in Mansion La Palma
(if you like tennis, you will LOVE Mansion La Palma
). If you want beachfront in Bay Colony
now you're going to have to bring nearly $2,000,000 to make it happen. The lowest priced unit on the beach this season was $1,350,000 those days might be over for awhile. Another example is located within the Bay Colony home
statistics. The lowest priced home in Bay Colony
was on the market for $2,695,000. Now the lowest priced home is $4,495,000. Clearly those numbers now price some of the Bay Colony prospect base out of the market and I won't be surprised if I start to hear grumblings about how somebody should've pulled the trigger when they could've.
As a matter of fact, I received a call exactly like that on a a ridiculous deal that took place in Pine Ridge
earlier this year. Now those people with a specific set of requirements have no options left but to build...in comparison, building a condo on the beach in Bay Colony
...not an option.
That's why I think there's still traffic in Bay Colony and why I think we'll continue to see sales through the off season.
Now is a good (not terrific) time to be purchasing in Bay Colony because you do have some obvious talking points but obvious talking points are just part of the ingredients to a successful Bay Colony negotiation. I encourage you as a potential Bay Colony buyer to be strategic. I can help you identify the perfect Bay Colony property and help you prepare a terrific negotiating strategy but it may take some tenacity on your part to get it done. Also, I don't know many people who enjoy Christmas shopping in July just as it can be tough to get fired up about purchasing in Naples when you're thoughts about Naples have been mentally tucked away like last season's sweaters but....if you think there's going to be any good negotiating this next fall if inventories or low and we get colder quicker (since we seem to be on this 1 to 2 months in advance weather pattern anyway)...you might guess again. Because if the snow starts blowing say in October AND we don't have a great deal of inventory AND the election goes the way many of us hope....it will be tougher than you might have guessed.
Call me and let's get started today so that by the time all that other silliness starts to happen, you have the perfect Bay Colony place to rest your smart self!
Shannon Lefevre, PA
Your Naples Smart Girl!