I performed an extensive analysis on Pelican Bay today to help a buyer better explain his price position on his offer. If you've been following my Naples real estate blog or if you've had your ear to the ground here in Naples, you've heard two things repeatedly.

1. There's no inventory
2. We're expecting a very busy buying season

With sales steadily increasing buyers are losing power in negotiations.  It's been an interesting pre-season to say the least. As an example there were 1,604 sales from October to December 28th last year in Naples Florida.  This year there were 1,923 (up 18%). That has clearly put a new tone in listing agent and seller's voices and you can't hardly blame them...they've been waiting a long time to get the upper hand again and many feel like they have it...but do they?

Having a thorough understanding of a market is one of the most valuable assets a real estate agent can possess and sadly few can analyze a market well enough to have an undeniable understanding.  Unfortunately the data can be difficult to figure out and in some cases there isn't enough data to properly assess to get a true value of a property.  That's where my Pelican Bay analysis came in today. 

For the sake of confidentiality, I'm not going to discuss the exact location within Pelican Bay my buyer is targeting but because there was a strong discrepancy regarding current values in the location, I broadened the scope of my analysis to check my accuracy of understanding the Pelican Bay market. 

This is when negotiating can get tricky. The listing agent in this case was clearly holding tight to the idea that just because one buyer clearly over spent means that there's a well defined much higher market value in the neighborhood...total bummer.  So I held tight to the other Pelican Bay sales that made more sense while finding visions of holding hands merrily to the closing table were quickly fading...eh...been here before. So here's what I found out about our current Pelican Bay real estate market.

Where is Pelican Bay really?

2003
Avg list price $931,585
Avg sell price $853,359
Avg sell price/sq ft $337
Avg list to sell price ratio 94%
# of sales 374

2004:
Avg list price $1,040,204
Avg sell price $969,778
Avg sell price/sq ft $379
Avg list to sell price ratio 95%
# of sales 492

2011
Avg list price $1,091,785
Avg sell price $987,945
Avg sell price/sq ft $373
Avg list to sell price ratio 91%
# of sales 305


2012
Avg list price $1,023,973
Avg sell price $939,875
Avg sell price/sq ft $370
Avg list to sell price ratio 92%
# of sales 355

While 2012 stats closely resemble 2004, there are some pretty big discrepancies between the two comparison years.  For example sales are off 38% this year compared to 2004.  Sellers were recognizing a stronger confidence with the indication they were getting 95% of their list price and their price per square foot was 6% higher than it is right now.  That indicates that while 2004 and 2012 were similar years, they weren't exactly the same and shows a consumer confidence problem along with some inconsistency. 

For example if you check out 2011 statistics, properties in Pelican Bay sold for a fraction higher price per square foot but when you review statistics between 2003 and 2004 price per square foot values rose 12%. The other concern of course is the number of sales only rose 16% from last year to this year but between 2003 to 2004  sales rose 31%.

So what does all this mean?  I can tell you a few good real estate rules the best agents always try to follow:

1.  A bird in the hand is always better than a bird in the bush. With all of the crazy fiscal cliff talk, stock market spills  and world economy woes, do you think now is the time to brush off a less than perfect offer?

2.  Your first offer is your best offer. This is a widely accepted and believed practice and very often true at the chagrin of every seller who let the guy go.  Did you know there are 1,860,000 results in Google for "first offer is the best offer"?

3. You got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run...yes...so horribly cheesy but so important.  The desire to sell fluctuates drastically from seller to seller and some may have the stamina to hold out for a few more bucks or gladly afford to lose a few dollars later down the road.  It's imperative you as a seller properly know yourself and hopefully you agent has the intelligence to ask you the hard questions.  Will you be ok if this backfires? 

Pelican Bay property owners who sold last year compared to this year combined put an additional $10,000 in their pocket. Do you want to know what it will be next year? Call me, this time next year.

If you're thinking about selling your Pelican Bay property, call me.  I know the market, I can help you get all of your money. Swiftly, confidently.

If you're thinking about buying a Pelican Bay property. It's more important today than it has been in years to choose a proven, knowledgeable professional like me who can help you get your deal done without overspending.

Happy New Year!

Shannon Lefevre, PA
Your Naples Smart Girl!

 Hello Naples Friends!  I just completed my first Naples real estate video update. I have timely information to report regarding the current state of the Naples real estate market including where new listings, pending sales and contracts are for the current year so far.  I also share where maybe the best place in town is to negotiate a deal!  I'm excited to share it with you here! 



Super excited to hear your thoughts on my video and happy to take any suggestions on Naples reale state content you're interested in hearing about!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Hello Naples fans!

As some of you may remember, I'm exploring the vast world of video and trying to figure out how to incorporate it in to my site her to make your Naples experience that much better. While doing some research at a tech conference I'm currently attending, I found some Naples related videos I thought I'd share with you.

Here's one of my favorite restaurant, Trulucks:

Here's one of Waterside Shops, one of my favorite places to shop:



Venetian Village...this one is kinda funny:


Finally one of Naples beaches:



This is just to warm you up. I'll be tip toeing into the world of video shortly and providing you some fabulous Naples tid bits for your enjoyment.

In the meantime, stay warm and if you have any Naples real estate needs, I'm happy to assist!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Hello Naples Fans! If you've been following this Naples real estate blog and others, you already know lack of Naples inventory is the big topic this season. Naples beachfront is especially short so the faster you identify your property, the better chance you'll have of securing it.

So many of you are most interested in the best so to make your adventure as easy as possible, I've included the top 4 Park Shore Beachfront high rises for your viewing pleasure.  Call or email me direct if you see something you like and let's get in there so you can decide if it's for you!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

PS~ Only 2 more days til the beginning of Naples High Real Estate season! Are you ready?

I hope everybody finds themselves this morning with some shiny new Holiday memories! As I reflect on my own memories one that stands out is a phone call I received around 7:00 on Christmas Eve.  Clients who purchased a home in Grey Oaks in November were in town and on their way to the airport to pick up their two children to celebrate their first family Christmas in Naples. I could hear the excitement in her voice when she told me of their arrival and how they were going to spend their time in Naples this year.  She thanked me again for helping them find what they think is the perfect place to make some terrific family memories. 

I marveled over the generosity of her phone call and I'm so glad she shared her anticipation with me. That in essence, is what I really do when I sell Naples real estate. Of course people look for the perfect location, the right decor etc. but ultimately SO many of my clients are in pursuit of the perfect Naples experience.

Whether it's an active lifestyle they desire or perhaps a chance to relax on one of our Naples beaches, we can easily accomplish nearly everybody's wish and when you need a Realtor who can not only find the floor plan and amenity package you are after but they can also imagine your vision of what the real accomplishment entails, call me.  I know how to do that too.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl

PS~ Did you know the official Naples real estate high season shot gun start occurs on January 1? :) Hope to assist you this year!

Carlton Place at Pelican Bay has experienced a fabulous year...Here are the Carlton Place at Pelican Bay real estate statistics:

• Carlton Place at Pelican Bay Listings = 0
• Carlton Place at Pelican Bay Pending Properties = 0
• Carlton Place at Pelican Bay Sales during the past 12 months = 4
  

CONGRATULATIONS Carlton Place for selling out of all available product!

If you're considering a Carlton Place at Pelican Bay purchase:  Give me a shout and let me see if I know somebody who would consider selling at this time or you might consider an alternative Pelican Bay community like Cocobay at Pelican Bay.

If you're considering selling your Carlton Place at Pelican Bay home:  Give me a shout.  Average sales price per square foot in Carlton place is 401/square foot but depending on what you have to offer, yours might be worth a whole lot more.  Call me for all the reasons why and let's get started today!

The real story at Carlton Place at Pelican Bay is about the market time.  The average market time for the units that sold during the past 12 months in Carlton Place at Pelican Bay is 364.5 days....a YEAR on the market does not usually signify a hot market don't you agree?  It's as if they all sat and then they all sold.  BUT as you can see from the results....it could be proof that what my colleagues and I have been chirping about as far as inventory disappearing is true.  I believe I showed each of the units that sold last year at least once or twice and all were special in their own way.  In fact, I nearly sold one of the units to a couple who ended up purchasing in Pinecrest at Pelican Bay instead.  During that process one of the past owners at Carlton Place even had the courage to present an offer to my buyer because of the positive feedback he had received.  It's a technique that could be considered "aggressive" or "out of the box" but it is a super way to encourage a positive engagement with a potential buyer.  Had the home fit the needs of my client it probably would've worked out for them.  Ultimately my client decided he needed to take a stab at a Pelican Bay single family home instead of a Pelican Bay villa which brings to another conversation I recently had with a potential new customer I've been talking to lately. 

Her question she asked recently was whether or not Pelican Bay mid-rise condos were in high-demand and if I show them on a regular basis.  I personally don't show a great deal of Pelican Bay mid-rise condos because not too many of the buyers I've worked with ask for them specifically compared to other types of Pelican Bay properties.  Sometimes buyers aren't 100% sure what they want and have a hard time envisioning what they'll be doing with their time here and who they'll be doing it with.  While some of my clients know they'll be entertaining friends and family a great deal...others are still very much unsure about the details that concern what type of living arrangements will best fit their needs. That's why it's common to show one client a good cross section of several different types of properties so they can get in and, "see, touch and feel" their way into an idea of what they think will work for them.  I can uncover much about their uncertainty through a series of questions I ask but sometimes it actually takes getting inside to actually, "get it".  I remember once talking with a couple who were considering putting their Pelican Bay condo on the market after owning it for a relatively short period of time...if memory serves under 2 years.  She had made a comment about how she had wished her Realtor had been a little more insightful about her needs and how maybe she had made a mistake with going with somebody who may have just been after a deal instead of taking the extra time to make sure they would be happy for their duration in Naples. 

Many people trade up and down several times within Pelican Bay as their needs and/or wants change not necessarily because they had a crummy real estate agent.  Of course this happens more frequently in an appreciating market than it does in a flat or depreciating market for sure.  You'll find when we work together,  I will actually try to get inside your head and figure out what you want even if you don't even know yet.  I'm pretty good at that and that's just part of the reason why I give GREAT RESULTS!

I hope you enjoyed my Carlton Place at Pelican Bay update.  For more information regarding Pelican Bay or any Naples area, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl

Southwest Florida New Listings by June 24th of each calendar year:
This year there have been a total of 16,202 (down 13% compared to 2010)
2010 there were a total of 18, 393 (down 4% compared to 2009)
2009 there were a total of 19,312 (down 8% compared to 2008)
2008 there were a total of 20,924 (down 10% compared to 2007)
2007 there were a total of 23,047 (down 10% compared to 2006)
2006 there were a total of 25,452 (up 52% compared to 2005)
2005 there were a total of 16,735

As you can see from this 7 year time line we are nearly even compared to 2005 in new listings added to the Southwest Florida MLS database.  Just looking at this listing information you might think we're following the typical 7 year cycle that Naples real estate has been rumored to follow in the past.

Southwest Florida Sales by June 24th of each calendar year:
This year there have been a total of 7,476 (up 10% compared to 2010)
2010 there were a total of 6,736 (up 37% compared to 2009)
2009 there were a total of 4,909 (up 27% compared to 2008)
2008 there were a total of 3,858 (up 6% compared to 2007)
2007 there were a total of 3,606 (down 26% compared to 2006)
2006 there were a total of 4,559 (down 48% compared to 2005)
2005 there were a total of 9,312

As you can see from the Southwest Florida sales data it is clearly evident that the Naples area isn't following the same 7 year cycle as many expected. While listings are down and sales are up compared to the last several years.  We have hardly come full cycle. 

While some areas have indeed leveled and some inventories are actually short in some Naples areas, some areas are still experiencing an oversupply or are at a standstill.  Anytime the stock market starts doing funny things and word about the economy makes people nervous there tends to be a slight drop in interest.  This is especially great for a buyer who was hoping to pick up a deal this summer. 

I can't guarantee this edge of negotiations will still be with buyers once the snow starts flying up north again but I can (with confidence) suggest a Naples area buyer has some extra power to negotiate than they did during season.

Another thing to consider is our next peak selling season will be taking place during an election year which always seems to bring added anxiety and a mixed bag result.  This is largely based on the optimism or lack there of who many will think will be our next Commander in Chief.

There are some interesting areas that have since broken loose a bit since season...this means that a neighborhood or condominium with few to no sales has started selling again and now there is definitive evidence of true market value where before it was merely a guess or open to gross interpretation.  Take for example the Regent at Park Shore.  Sales were stagnant in Regent since July of 2009.  Since then a couple have gone under contract and one has since closed with more offers that were unsuccessful but once that second unit closes there will be a clear understanding of the new value in Regent and I think anybody who's been watching may be ready to give it a shot.

For more information about Naples real estate information specific to your needs, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Hello Naples Friends!

Memorial Day weekend is quickly coming upon us.  I hope everybody enjoys their time and here's a few points to consider if you plan to be involved in Naples real estate in some capacity. 

My Naples Florida web statistics tell me visits are up 24% compared to this time last year and page views are up 26%.  More of you are searching, visiting and actually purchasing this year compared to 2010.  Please remember the key to successful negotiations is to pitch points the other side wasn't aware of or hadn't considered.  Pitching the point you're the only buyer here who has cash is not a solid point because you are surrounded by like kind.  This is when a smart Naples Realtor can assist you with success full strategies to help you get your deal.

 If you've been to Naples on Memorial Day in the past, it hasn't been difficult to get an appointment to see property at last minute.  Many Naples agents are already talking about full schedules this weekend so even though you're technically late by this point, still call your Realtor and try to set something up so we can best accommodate you. We hate losing business because of untimely planning.  Help us help you.

There are a ton of Naples open houses taking place this weekend.  This is still a great way to learn a neighborhood and see Naples real estate casually.  In fact, Chad Phipps a member of our team will be holding an open house at 12026 Covent Garden #502 on Sunday from 1-4.  This is a terrific golf course condo and if you're in to golf, the deal the Ronto Group is offering at Twin Eagles is (what we consider) the best deal in town right now for golf.

I'm noticing some of the very best inventory disappearing from MLS lately.  This is sometimes the best priced and sometimes the best looking.  If you have a propensity for "the best", I encourage you to get here and make a decision. Much of this product is not quickly being replaced by more offerings. For more information about Naples real estate, call me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!
239-596223