Naples Florida Real Estate is heating up! Currently there are 700 properties pending contract in the Naples Florida area and 1,210 Naples Fl listings active with contingency. If a property is listed as "pending" in MLS it will disappear of my site. If a Naples property is listed as "active with contingency" meaning it has a contract but there is a contingency that needs to be removed before closing, it will still show on my website. That's what "active with contingency" means.
The idea behind this concept was originally meant to continue to actively expose Naples properties that may not close with the current buyer so that another buyer could write a back up offer and negotiate a contract before the property went back on the market. When and if the first deal didn't work out, the second buyer would then move into first position and be able to close.
Because of the short sale process, many of these properties don't close and won't close until the bank communicates with the seller and potential buyer about what they'll accept as a sales price. That's why it's common to see several of these properties go on and off the market SEVERAL times and still not close.
This process can literally take years. In a hot market, it's common for buyers to want to see and write back up offers on properties like these because there isn't anything else available and it's the closest they may get to a deal. In a market like this it is normally not considered a viable method to purchase property due to so much red tape and the fact that there are other options available. The lion share of the folks I've worked with are simply unwilling to play the game in the name of saving a few bucks and would prefer to solidify a real deal and move on to enjoying it. But, I must also admit a majority of my buyers are active and busy and they value their time. Most don't want to spend it wondering if they have a deal.
I've had quite a few people lately inquire about Naples properties that are "active with contingency" during the last few months. IT'S A TREND. While this is good news for sellers and for the overall health of the Naples Florida real estate market, it may look gimmicky or even "bait a switchy" for new buyers. I can assure you this isn't an attempt to sell you something more expensive but it IS a pretty good indication that the best deals are selling!
If you've been waiting to purchase Naples real estate, now might be the time you want to do it cuz let's face it...Naples sellers tighten up negotiations starting about September/October when season is just around the corner.
For more information regarding Naples Florida real estate, or to see Naples Florida property, contact me direct!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
No comments:
Post a Comment