Price adjustments are a busy business for Naples Florida real estate.  There were 363 Naples Florida properties in MLS this past week that had price adjustments.  When I type "price adjustments" you might think they were all reductions, but there are always some price increases in the bunch as well. 

There are some really nice reductions in Naples this week.  Here are 17 Naples price adjustments I have permission to blog about.  This link will remain live for approximately 3 weeks.

If you want the full list, you'll have to email me direct.  Make sure you ask me for the Naples price adjustment list.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl

For those of you familiar with Twitter you can follow Naples Florida information regarding some of your favorite Naples neighborhood news like price reductions, new listings and market statistics. Or you can just follow me and there's no telling what I'll write there. 

@PelicanMarsh
@Bay_Colony
@Pelican_Bay
@ParkShore
@OldeNaples
@NaplesSmartGirl

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl

Naples Florida Real Estate Today:

Naples Single Family Homes
Naples Single Family Homes currently listed = 3,344
Naples Single Family Homes currently under contract = 992
Naples Single Family Homes sold during last 12 months = 3,859

The Naples Single Family Home market is UNDERSUPPLIED with under 11 months of active inventory.  Some pricing increases of started in select neighborhoods.  Choose a professional like me to help you analyze whether or not you should purchase today in your desired location.  There are still some deals to be had, diligence is the name of the game in some locations while quick action is the name of the game in others. 

Naples Low Rise Condos
Naples Low Rise Condos currently listed = 2,585
Naples Low Rise Condos currently under contract = 352
Naples Low Rise Condos sold during last 12 months = 2,671

The Naples Low Rise Condo Market is UNDERSUPPLIED (barely) with 11.6 months active inventory.  While there are some location with pricing increase you can still find incredible deals in some locations.  Again, become an expert or consult one to get the best up to date information regarding pricing in the Naples low rise locations where your interest exists.

Naples Mid Rise Condos
Naples Mid Rise Condos currently listed = 390
Naples Mid Rise Condos currently under contract = 20
Naples Mid Rise Condos sold during last 12 months = 280

The Naples Mid Rise Condo Market is OVERSUPPLIED with nearly 17 months of active inventory.  Mid Rise condo property owners, consult an expert before you list your property. Mid Rise condo buyers, you have some leverage here to negotiate but that doesn't mean every seller is interested in dumping their property.  It's best to talk with an expert on negotiation techniques.

Naples High Rise Condos
Naples High Rise Condos currently listed = 639
Naples High Rise Condos currently under contract = 24
Naples High Rise Condos sold during last 12 months = 459

The Naples High Rise Condo Market is OVERSUPPLIED with nearly 17 months of active inventory.  High Rise condo owners, consult an expert before you list your property.  High Rise condo buyers, you have some leverage here to negotiate but that doesn't mean every seller is interested in dumping their property.  It's best to talk with an expert on negotiation techniques.

Naples Attached Villas
Naples Attached Villas currently listed = 472
Naples Attached Villas currently under contract = 87
Naples Attached Villas sold during last 12 months = 528

The Naples Attached Villa Market is UNDERSUPPLIED with just over 10 months of active inventory.  Pricing in some locations is holding and in a few areas are going up.  If you are interested in purchasing in a low inventory location, there might be more inventory added during the next 5 months but if you find something you like, you might take a stab at it.  Sellers, if you're thinking about selling your attached villa, contact an expert to assist you with price and terms.

Naples Villas
Naples Detached Villas currently listed = 128
Naples Detached Villas currently under contract = 12
Naples Detached Villas sold during last 12 months = 104

The Naples Detached Villa Market is OVERSUPPLIED with 16 months of active inventory.  Detached villa owners, consult an expert to assist you with marketing, list price suggestions and contract negotiations.  Naples detached villa buyers, some markets are doing better than others.  Consult an expert to review your objective and assist you with location and negotiation strategies.

In closing, you can expect Naples inventories to fluctuate up during the next 5 months in preparation for season.  This is predictable occurrence that happens every year.  Your best negotiating opportunities will go on now til about mid to end of October when negotiating will tighten for the season.  Keep in mind some sellers will remain negotiable. 

For more information regarding listing or purchasing in Naples Florida, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Well I knew when I started my Pelican Bay Naples Florida update sequence I wouldn't be deliver super news when it came to the Pelican Bay high-rise market but I'm happy to report it's better than I thought it would be!

Although the Pelican Bay high-rise market is currently in oversupply, it's not as high as I originally expected.  We're at about 17 month inventory now.  While this isn't the best news I could deliver to Pelican Bay high rise property owners, this may be good news for those Pelican Bay buyers who have been waiting for a perfect time to purchase. 

Here's a run down of the different Pelican Bay condominium buildings:

Pelican Bay High Rise Hot Buildings:

Biltmore at Bay Colony - Only has 1 unit currently available.  3 have sold during the last 12 months.  If you own property in Biltmore at Bay Colony, now might be a great time to sell! Contact me for a property evaluation.

Carlysle at Bay Colony - Only has 1 unit available with 2 sold during the last 12 months and 1 currently under contract. 

Contessa at Bay Colony - Has had a whopping 7 units sell during the past 12 months with 4 units currently on the market.  If you're looking for a unique opportunity, you might check out the current inventory here.  There's a one of kind offering right now!

Coronado at Pelican Bay  - Has had a whopping 7 units sell during the past 12 months with 6 currently available.

Heron at Pelican Bay - Has had a great year.  3 units have sold during the past 12 months with only 1 left!

St. Laurent at Pelican Bay - Only has 3 currently available with 6 sales during the past 12 months. 

St. Pierre at Pelican Bay - 6 units are available with 8 sales during the past 12 months. 

St. Tropez at Pelican Bay - 2 units have sold here with only 1 left.

Pelican Bay High Rise Buildings Holding Their Own:

Chateaumere Royale at Pelican Bay - 3 available, 3 sold.  There's one unit that looks like a decent deal on paper although I believe the best deals in this building are already gone.

Remington at Bay Colony - Currently has 3 on the market with 3 closed sales during the past 12 months and 1 poolside cabana.  There's an interesting penthouse available here too! 

Windsor at Bay Colony - 1 sold, 1 available. :)

Pelican Bay High Rise Buildings With Oversupply Of Inventory:

Brighton at Bay Colony - Currently has a 2 year supply of inventory with 4 current listings and 2 sold during the past year.  I don't really see anything advertised that would constitute an exceptional deal here but Brighton at Bay Colony is a fabulous building and if you don't know it...you should.

Cap Ferrat at Pelican Bay - Has only had 3 sales during the last 12 months with a whopping 12 units on the market right now.  That's a 4 year inventory! Rumor has it that Cap D' Antibes is going back on the market this fall and this could be part of the reason why so many units are available here.  Many Cap Ferrat unit owners may be wanting to switch up and are anticipating the process by putting their properties on the market now in preparation.  If you are currently a Cap Ferrat unit owner, it might be wise to hold off on putting your unit on the market unless you are prepared to sell at a discount or wait to get your price.  If you are thinking about purchasing in Cap Ferrat, no huge deals stand out on paper but give me a shout, there might be some negotiating that can be done.

Claridge at Pelican Bay -  Only 1 unit has sold during the past 12 months and there are currently 7 properties in Claridge on the market.  There are a few with reasonable pricing but a smart buyer might try to use the sluggish movement in the building as leverage for a lower priced offer.  Contact me for details if you're interested in the building.

Dorchester at Pelican Bay - 3 on the market with 2 selling during the past 12 months.  Pricing may already be tightening here.  Looks like the best deal of the year has already sold which was a remodeled unit that sold for $565,000

Grosvenor at Pelican Bay - Although there have been 5 units that have sold during the past 12 months which is great traffic, there are still 7 available. 

Marbella at Pelican Bay -  A whopping 17 units are on the market in Marbella right now with only 7 sold during the past 12 months.  If you own property in Marbella, now might not be the time to sell...unless you have to.  If you're thinking about purchasing in Marbella, I would have my agent do some due diligence in this building...there might be a deal to be had!

Marquesa at Bay Colony - Has two currently for sale with only 1 property sold in the building during the past 12 months.  There does appear to be a pretty decent deal here right now if an expansive view is not that important to you.  Call me for details.

Montenero at Pelican Bay - 6 units have sold during the past 12 months  with another 8 currently available.  Of the 8 there are 3 very interesting penthouse units available.  One might expect sitting back on the Pelican Bay Boulevard there wouldn't be much of a Gulf view...the views here and floor plans are fabulous! 

Salerno at Bay Colony - 6 units are currently available while only 3 have sold during the past 12 months.  Ehh...

St. Kitts at Pelican Bay - 8 units are currently for sale while only 3 have sold during the past 12 months.  2 are currently under contract.  Units here are smaller for the most part so if you want a great view, not alot of space and don't want to pay a ton...you might check this out.

St. Lucia at Pelican Bay - 4 units are available with only 3 selling during the past 12 months.  There appears to be a pretty decent deal here.

St. Maarten at Pelican Bay - 7 units are available with 5 closing during the past 12 months.  Units are small causing pricing to typically be less expensive than some of her sister buildings although I don't see anything I would call a huge deal right now.

St. Marissa at Pelican Bay - 5 units are available with only 1 selling during the past year.  

St. Nicole at Pelican Bay - 4 units are available with only 1 selling during the last year. 

St. Raphael at Pelican Bay - Currently has 18 units available (WOW) with 11 sales during the past 12 months.  Somebody got a fabulous deal on a penthouse here!

Stratford at Pelican Bay - Has sold 4 with 5 currently on the market. There is a screaming deal here even if Stratford has had a tough go at it during the past several years!

Toscana at Bay Colony - Has 6 on the market right now with only 3 that have sold during the past 12 months.  There are a couple of deals here right now.

Trieste at Bay Colony - 9 for sale, 4 have closed during the past 12 months...will this building ever level out?  I'm sure it will. In the meantime deals are being snatched up.

I've noticed pricing has definitely increased in some of the high-rise product whether there's a good reason for some of this is hard to determine but that is what makes a neighborhood stable.  The value of your property is only as high as the least fortunate property owner and one of the things I continue to see in Pelican Bay is the bulk of the owners here have the ability to hold out for their pricing.  No worries to those of you looking for deals.  There are definitely some deals to be had in all of the product in Pelican Bay.  To what extent largely will depend on the due diligence you and your agent are willing to do. 

If you're thinking about selling your Pelican Bay high rise condo, it is wise to consult a professional who knows the high-rise market in Pelican Bay.  I'm happy to give you an honest account of the health of the market in your building even if it means you decided not to sell today. 

If you're thinking about buying a Pelican Bay high-rise, give me a shout.  I'm happy to assist you with your objective whether that be finding a perfect 1 of a kind unit offering fabulous features or an exceptional deal.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl! 

I noticed somebody this morning had searched, "Homes Built Before 1950 For Sale In Naples".  I doubted they were able to find what they were looking for easily so I thought I would pull the search for them and post it here.  Unfortunately, they did not contact me direct so I will never know if they find this link. :(

Currently there are only 19 homes available in Naples Florida built before 1950. You can see all of them here:

Homes built before 1950 For Sale in Naples

This link will remain live for about 3-4 weeks...if you want me to update it, just let me know.

It's even easier than that to get what you want.  My goal is to be the most responsive and helpful real estate agent in Naples.  If you have a special interest in Naples real estate, just contact me direct and I'll make every attempt to assist you.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl

Bay Colony Naples Florida is the most luxurious community in Pelican Bay.  As it stands there are 50 properties currently available in Bay Colony.  Here's the break down:

Single Family Homes:
5- Bay Colony Shores
1- Strand at Bay Colony

Villas
3- Vizcaya at Bay Colony

Mid Rise Condos
3- Mansion La Palma

High Rise Condos
1- Biltmore at Bay Colony
4- Brighton at Bay Colony
5- Contessa at Bay Colony
2- Marquesa at Bay Colony
4- Remington at Bay Colony
5- Salerno at Bay Colony
6- Toscana at Bay Colony
10- Trieste at Bay Colony
1- Windsor at Bay Colony

6 units in Bay Colony are pending contract right now.

There are 21 Bay Colony sales while last year only 8 had sold.

Bay Colony is starting to see areas of low to no inventory so if you've been waiting for Bay Colony to hit the bottom...you may have already missed it!

If you are a buyer looking for Bay Colony property you'll be happy to know there's been a little more room for negotiating this year.  The average list price to sales price ratio is 87.9% this year. Contact me immediately I doubt this will continue to trend.

 If you are a Bay Colony homeowner, now is a GREAT time to put your property on the market if you are located in the following locations:
- Biltmore at Bay Colony
- Carlsysle at Bay Colony
- Marquesa at Bay Colony
- Villa La Palma at Bay Colony
- Windsor at Bay Colony

For more information regarding Bay Colony Naples or to see current inventory, contact me direct!

Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!

On this day there are 2,904 sales for SW Florida. Last year on this day, 1,960. 2008=1,563 2007=1,595 2006=2,321 2005=4,129 FABULOUS!

If you aren't already familiar with Aqua a high-rise condo located in the Pelican Isle Yacht Club community in North Naples, maybe now is the time you should be.  Aqua is a state of the art condo completed in 2008 featuring all of the latest technology with a beautiful stream lined modern appeal. This resort style community's financial stability had been in question for quite some time and rightfully so.  Apparently the bank has taken control which leads to a more stable financial position and lower pricing!  Read more about Aqua Naples Florida or check out the Aqua Naples Florida condos for sale.

Southwest Florida Real Estate on this day, March 10th there are 2,173 sales YTD.
'09 =1,429
'08 =1,119
'07=1,202
'06=1,864
'05=3,149
'04=2,112
'03=1,796

If you see a deal, you should probably get after it. You're not the only one looking in the market.  Contact me today!

Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!

The Pelican Bay Pink Pages is a monthly newsletter about Pelican Bay and Bay Colony Naples Florida. See sales statistics, neighborhood real estate reports, open houses, best deals, short sale information and more.

The Pelican Bay Pink Pages is your most comprehensive Pelican Bay and Bay Colony resource! In fact, it's SO comprehensive, you have to sign up for it..but no worries, that's just to appease our local board of Realtors...your information won't be used for anything else!

Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!

According to a recent study by Metrostudy, here are the top 5 new construction neighborhoods in Naples based on housing starts:

1. Marbella Lakes
   
2. Verona Walk
3. Heritage Bay
4. Lely Resort
5. Madison Park

For more information regarding these Naples neighborhoods, click the locations above for homes for sale or contact me direct!

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!

I'm not quite sure what was in the air this time last year regarding the typical prospect for Pelican Bay but it was just plain weird!  I suspect it had a great deal to do with the stock market blues that occurred September 2008 paired with the typical, "I want to buy when Pelican Bay bottoms out" mentality. The mixture of the two occurrences made for an interesting few months for sure. 

We saw a handful of single family homes dip under 1 million again, a super glut of condos that sat without offers and a few low-rise condos sell for under $300,000!  It wasn't too terribly long ago when you couldn't tip toe into Pelican Bay without $500,000 in your pocket and at that price you weren't going to get much...maybe a horribly outdated condo hugging Tamiami Trail...but that was about it.  That's probably why some sellers stuck their nose up at low offers which by what I heard and saw was prevalent.  Some listing agents fumed to the point of near hostility at some of the offers I presented only to gulp hard 6-8 months later when I was back with inquiries on the same properties that still hadn't sold...sigh.  Other sellers took less than they'd hoped to get deals done and some agents worked their tails off to insure closings.  All in all, it was a pretty rough year for Pelican Bay.

Rumor has it there will be more foreclosures and short sales appearing in locations like Pelican Bay this year.  There are 3 Pelican Bay properties being advertised as possible short sales now although only one of them looks like the deal you would hope to find...in fact...it is a REALLY good deal! If you're interested in learning more about it, shoot me an email or give me a call!  There are currently zero foreclosures.

Talking about good deals in Pelican Bay...a single family home closed for $775,000 today! HOLY COW! It had been put on the market for a whopping $1,499,000 just over a 2 years ago and was listed for just under $1,000,000 when they negotiated that price! So, yes Virginia, there is a Santa Clause you can still cut a nice deal in Pelican Bay.

Here's a breakdown of the current Pelican Bay Real Estate Market:

Pelican Bay Homes (Single Family):
31 Active
6 Pending
24 Closed last year 
That's about a 15 month supply...not bad but there is a slight oversupply of inventory!

Pelican Bay Villas
32 Active
6 Pending
34 Closed last year
Villas over all other product still are the hottest ticket in Pelican Bay! This market is STABLE.

Pelican Bay Condos (Low-Rise)
97 Active
9 Pending
78 Closed last year
There's just under a 15 month supply...same oversupply as single family!

Pelican Bay Condos (Mid-Rise)
17 Active
4 Pending
11 Closed last year
Eh...18 month supply :(

Pelican Bay Condos (High-Rise)
175 Active
6 Pending
81 Closed last year

OMG Nearly 26 month supply of inventory...there might be some opportunity here!

Currently there are 352 Pelican Bay listings. That's just over 18 months of inventory.  It's going to be important for Pelican Bay property owners who want to sell this season to play it smart! You'll want to watch pricing closely and you'll want to take a peek around your property.  People aren't snatching up tired for premium pricing anymore and for those of you who were smart enough to remodel or have product in excellent condition, crazy pricing isn't probably going to attract that cash/close tomorrow buyer either.

If I were listing my Pelican Bay home to sell right now, I'd be making sure all systems were in great working condition, everything was in beautiful aesthetic condition, my property was priced at an "oh crap if we don't buy it today somebody else will" level and I'd be hosting open houses every weekend. Now I know some people don't think open houses work but they definitely do in Pelican Bay.

For more information regarding Pelican Bay, visit my website or contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

I made a beautiful mistake as a college kid by enrolling in a consumer behavior class years ago.  I'd love to say it was part of my well designed plan to offer you the best service possible but it was more dumb luck than anything.  I had no idea how incredibly intriguing consumer behavior was and I continue to be in awe over what each selling season of Naples Florida real estate will bring. The class taught me to constantly have my eye on change and I spend a great deal of time watching what Naples real estate buyers do and listening to what they say.

I can confidently say that no two seasons have been the same since I've been selling Naples real estate and I think new surprises are in store for us this year as well.  For example, there are quite a few irrefutable signs our market has improved and in some segments our market has fully recovered. 

How will this year's buyers handle the news that some select segments have in fact recovered and seller's will not be willing to negotiate as much? How will some buyers respond when they learn they may have missed out on the absolute bottom of the market? 

Just today I found myself browsing quickly through a furniture knowing fully that I was NOT a buyer but...circumstances brought me there and I never mind taking a quick peek provided I keep myself in check.  I remember specifically seeing two pictures catching my eye.  I stopped...determined I wasn't "IN LOVE" but I could be a buyer provided they didn't cost over a certain dollar amount. To my surprise it turned out they were 4 times the amount.  It wasn't painful walking away, in fact I hardly gave it a second thought and wondered if the possibility of slightly higher pricing or slightly stiffer negotiating might make a select group of Naples buyers behave the same way. 

Well, I already know of two groups of buyers who still bought even though their "predetermined limit" was exceeded.  The question everyone wants to know is if we can expect there to be a large swing of buyers who will ultimately purchase.

So far I see:

• Sellers who speak more confidently about selling and who have priced properties more realistically.
• Buyers who behave less hostile and are happier to be purchasing in Naples.
• Buyers who feel like now is the time to do it and so they are in fact purchasing.
• Sellers who are not allowing buyers to pick a number (any number) and are willing to let a deal go than sell below the price they want.
• Sellers who are sticking firm on negotiations even though there may be a couple of sales of very similar properties that sold for less last summer or fall.
• Smaller inventories.
• National real estate stories are becoming more positive.
• Agents nationwide are reporting stronger real estate markets.
• Higher Naples real estate website statistics.
• More buyer email inquiries than last year.
• More buyer phone calls than last year.

This is just a quick peek at the first week of high season but I can cautiously say it's a brighter, happier and more productive snapshot than the beginning of the last 3 seasons...stay tuned as we continue through for another update!

 

Best Regards,

Your Naples Smart Girl!

Shannon Lefevre, PA

I've been working on my Naples Florida real estate website now for about 4.5 years.  I am continuously amazed at it's success and I've been truly blessed with the people I've been introduced to and the people I have had the luxury of working for because of it!  Blogging here on Active Rain has been terrific for my business but ShannonLefevre.com is my number one most productive real estate marketing tool.

One of the aspects of web marketing that always continues to intrigue me are the keywords people use to find my site.  While many find it through search terms related to Naples and the finer neighborhoods Naples has to offer, I am overwhelmed at the number of people who search my site everyday with words directly related to me and my site.  I am equally overwhelmed at the gratitude I receive from people who have used and appreciate my hard work. 

Afterall, I didn't have some tech guy build ShannonLefevre.com with a thoughtlessly written out check and a wave of a finger.  I carefully wrote all of those descriptions and took over 1,000 pictures of Naples myself.  Every new page I design, I design with you in mind.  It would have cost me well over $100,000 to have the equivalent built but had I contracted all that out, I wouldn't have the same commitment to my client as I do today.  All of that research and time spent building the site I did to insure I would be the best agent for the job of helping you buy or sell your Naples home or condo. 

By the way I still improve and expand ShannonLefevre.com nearly everyday and welcome your ideas, suggestions, criticism and of course your business.

If you have stumbled upon ShannonLefevre.com by accident, if you have been referred or perhaps you are a repeat visitor, I want to thank you for your time.  Thank you for your kind words and thank you for your business because without your business, I would not have the ability to continue to provide the service that ShannonLefevre.com offers.

 

Best Regards,

Your Naples Smart Girl!

 

Shannon Lefevre, PA

Happy New Year!  According to an email I received from my Broker at 6:55 this morning, there were 10,110 active listings and 8,794 sales closed during the last year in the Naples and Bonita Springs market.  This brings the current inventory to less than a 14 month supply...an important sign that the Naples/Bonita Springs real estate market is leveling.  In fact, this is the strongest the Naples real estate market and Bonita real estate market has looked in years!

As the market continues to level, sellers will negotiate less off asking prices and buyer competition will probably increase. There have been quite a few calls and emails from buyers who are now ready to purchase and fear the lowest prices are at or near.  I also believe we'll start seeing prices begin to creep up.  Signs of all three of those suggestions have already started to occur.

I've also noticed a continued rise in my Naples Florida real estate website traffic.  This traffic usually turns into showing traffic around 30-45 days down the road. 

If you've been monitoring the Bonita Springs and/or Naples Florida real estate market and want to purchase at a great price.  I believe this may be the year you want to make your move.

Happy New Year!

Shannon Lefevre, PA
Your Naples Smart Girl!

If you're up to speed on Naples real estate you may already know Collier County Commissioners are preparing to vote/pass a mandatory inspection requirement on foreclosed properties.  You can read more about the possible Mandatory Inspection Ordinance if you're unfamiliar.  Although I don't quite agree with the position the Naples Areal Board of REALTORS holds, I do suggest the commissioners take their time on this possible ordinance.

There's rumors the commissioners may expand the ordinance to include all properties and other alarming attributes.  A few concerns I have regarding this issue is the fact that the inspection ordinance will only cover a few points about the property and buyers will mistakenly assume that they're getting a full inspection which is incorrect.  The second thing that bothers me is although they may create a few government inspector jobs...with the perceived value of the new inspection they could also be screwing over the other inspectors in the area.  The other factor is that they are in no way shape or form prepared to handle the amount of inspections that need to be done which will cause delays and ultimately kill some deals...we really don't need any additional help with that. 

There are some good aspects to this possible ordinance if done correctly.  First and foremost...we have several lenders, investors and end user sellers who are dragging their feet about getting deals done and while time lapses the condition of the real estate deteriorates.  If an ordinace passes with any sort of a grace period...those folks better wake up and wake up fast to get their properties moved or many of them could face additional costs to unload that real estate.  I think it's an absolute sin how delayed some of these sales are and it just might put a little gig in their giddy up! :)

I have to admit I do enjoy some of the more astringent ordinances and codes that were passed in Collier County somewhere along the road.  It's one of the reasons why our town is as beautiful as it is and why we've been so fortunate to not have the same amount of damage from storms as some of our neighboring areas.  Naples has never been the least expensive place to purchase and I seriously doubt it ever will be.  I've had lots of potential customers choose other areas for that reason just as I've had a quite a few who purchased in Naples Florida for that reason as well.  We are not a "this area fits all" community but we hopefully are a "this area fits you well if you understand the value" community. 

If you're interested in attending the commissioners meeting it takes place at 1:30pm on the 3rd floor of the administrative building next to the Court House.  If you can't make the meeting you can send your commissioner an email!

 

Best Regards,

Your Naples Smart Girl!

There's been a weird Naples Florida real estate trend lately of crazy questions, concerns, demands and requests coming up during the escrow period of the contract.  If you haven't seen me type it already, real estate always trends and it trends in every way possible.  This too shall pass but while we're still riding this weird wave, let me clarify a few things that might come up while you are under contract. 

The most prevalent weird thing I've seen lately are unusual requests and/or demands regarding repairs.  For example, This year I was involved in a deal that had a radon issue.  When the buyer responded with his requests for repairs there was a side note asking for a specific radon mitigation system.  According to the contract, the buyer doesn't have the right to request which system is installed. The buyer has the right to ask for a mitigation system that will remove unhealthy levels of radon from the unit or a credit for the repairs...see below:

I also had another circumstance where the buyer wanted to "supervise" the repairs...but according to the contract, "Remedial Action shall be deemed to have been properly performed when (1) the Systems and Equipment are placed in Working Condition...  It doesn't say anything about the right to watch repairs being made.

Why are there so many crazy things going on right now?  The technical answer for that is, "because".  Hey, if real estate was easy then there would be a million people selling real estate right now and although we've had as many as 1 million Realtors, you can guess there are considerably less than that right now.

Real estate isn't easy.  It's easier when you have a competent REALTOR who has an exceptional network of inspectors, attorneys and other vendors to help you get your deal done and if you're thinking of buying or selling in Naples, you should be calling a smart Naples Realtor!

Best Regards,

Your Naples Smart Girl!

*The information in this specific blog is in regards to the Naples Area Board of REALTORS residential sales contract.  If by chance you have found this post and your contract is on a property in a different location and/or written on a contract other than the NABOR contract, please contact your REALTOR or your real estate attorney/title company for clarification on your specific deal.

When one of Florida's top economists stated that Naples had bounced last fall, I distinctly remembered thinking...oh really...how the heck do you know.  I was hesitant to be overly skeptical due to the fact that I was in complete disbelief when chirps about the Naples Florida market bouncing a few years ago came without even a hint of slow down and then roughly 6 months later those statements were clearly evident.

Since the evident slow down, I've learned to wait...and wait and watch and study...

It's been a little more than 6 months since that glimmer of hope hit the media and I have to say...there are definite signs of a rebound.  Since I've been selling (1996) One aspect of market trends that have always remained consistent is that the lower priced properties tend to start moving first and then activity continues up the price ranges as a market continues to strengthen. 

During the last 4 years or so when I've pondered the health of the market I've relied on a wide variety of resources.  One of which is a comparison between web stats of both my Naples Florida real estate website and a local competitor who places really well but is geared more towards the lower ended market.  For years I've had better traffic than they have but I've noticed during the last year the gap in activity between their site and mine has been shrinking.  Bad news for my business directly since I handle mostly higher ended property but good news for the Naples Florida market as a whole.  It's also good news if my theory of market trend is accurate and based on pending and closed sales this year...I may be correct.

If any of you are Fox News fans you may have just heard how we're in for another 3 years of a total real estate doom and gloom with our state of disaster seemingly ending "quite abruptly" the last quarter of 2012.  Granted those are nationwide mortgage default projections and although many once thought Naples Florida wasn't affected by what goes on in the rest of the world, we in fact are.  At the same time, we have seen magnificent increases of sales on properties priced below $500,000 and I can even say I've seen a nice bump in some recent pending and sales in some of our more luxurious neighborhoods as well.

Interestingly, June is simply not a stellar time of year for Naples real estate.  Our market is actually reversed compared to most areas across the country because it's hot, humid and usually rainy here during this time of year.  Our peak selling season is between January and April...mostly.

Even still, my web traffic is up 45% this June compared to last.  Real estate sales and pendings are also showing significant increases.  There were a total of 275 pending properties the first 15 days of June last year.  This year there are 562...not bad.  On the closed sale side of the spectrum there were a total of 286 closed sales from June 1st through the 15th this year while there were only 200 last year during the same time.  Folks, that still a 43% increase.

This is the part I like to pay attention to the most: 

Buyer and Seller Behavior

Back in April I wrote a blog post that showed a graph provided by Hank Fishkind depicting the public had this emotional feeling about our market:

Although I know a few agents, sellers and buyers who are still hovering in the "depression" segment, I've actually seen and heard more buyers, sellers and agents gearing more towards hope and in a few cases even relief!  Is this because we're coming off peak selling season?  Actually, I don't think so.  The euphoria of any buzz season would've given people would've since worn off yet I'm still hearing very positive conversation around town.  This includes casual conversation about sellers selling, buyers buying and agents doing both. That sort of chatter is something that been missing for awhile and if memory serves...there is nothing wrong with that!

Is this your get off the fence free card?  Nope, this is just a few observations and a few facts I've compiled to keep you in the loop.  If you're contemplating buying or selling in Naples, you always want to consult a smart Naples real estate agent!

Best Regards,

Your Naples Smart Girl!

The results of a recent poll taken on my Naples Florida website concludes that although some buyers are searching around Florida and other out of state locations, Naples Florida is still a majority of the participants only location they are currently considering!  Here are the poll results:

Is Naples The Only Location In Florida You're Considering Purchasing?

Yes
		59%
No, We're Looking In Orlando
		8%
No, We're Looking In Sarasota
		13%
No, We're Looking In West Palm
		5%
No, We're Looking In Fort Lauderdale
		2%
No, We're Looking In Miami
		5%
No, We're Looking Out of State Too
		5%
Total Votes:171 Polls are meaningless without firm results to back them up.  According to the Naples Area Board Of REALTORS MLS: There were 169 properties that went pending in Naples between June 1st and June 15th 2008 and 106 properties that went pending with contingency between June 1st and June 15th 2008 This year there were 290 properties that went pending in Naples between June 1st and June 15th 2009 and 272 properties that went pending with contingency between June 1st and June 15th 2009 A majority of the  sales this year are priced under $500,000 showing Naples Florida has had a substantial burst of interest compared to last year.  This means buyers who have been tire kicking need to hop to it if they're planning on purchasing under $500,000 in Naples.  It also means buyers who are planning on purchasing properties in a more expensive price range may have their best negotiating opportunity right now since traffic is a little on the slower side! For more information regarding the Naples Florida real estate market, contact me direct! Best Regards, Your Naples Smart Girl!

I kept this last poll up for some time because I thought it would be curious to run through a good portion of our high selling season.  Here's the question and the results of the poll:

Naples Florida real estate prices are:

Surprisingly Low  13% Surprisingly High  75% About Where I Expected  6% Don't Know Enough To Say  5%

As you can see, the majority of my website visitors who participated in my poll feel like prices are surprisingly high.  What is exceptionally curious about this is the fact that many of my colleagues and I have noticed some exceptional deals around the Naples Florida real estate market place.  Granted, there aren't outstanding deals on every corner but there are a few select properties that seem like outstanding buying opportunities and are either pending contract or experiencing a great deal of traffic. 

I guess when it comes down to it one of four things are going to happen:

• Naples is due for another mass reduction.
• You'll need to hire someone "smart" who knows how to find your deal.
• You'll need to spend a good amount of time finding that deal yourself.
• Do nothing. :)

I've made it convenient for you to research deals in all the most acclaimed neighborhoods.  All you have to do is click on the neighborhood of your choice found on the tool bar under Naples Communities found at the top of this page and on each neighborhood page find the deal button or heck, I can just list them for you below!

It doesn't get much easier than that unless you'd rather call me direct!

Best Regards,

Your Naples Smart Girl!