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!
Thursday, July 22, 2010
Tuesday, July 20, 2010
Gulfshore Blvd. Sales On The Rise
Closed sales activity on the Gulfshore Blvd. beachfront and bayfront maintained the steady pace of the first quarter. With 58 closed units on the beach and 15 on the bay, second quarter 2010 is the highest second quarter since 2005. On a year-to-date basis, Gulfshore Blvd. beachfront sales are up 17% over the first six months of 2009 and bayside sales up 107%.
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Gulfshore Blvd. Closed Sales
Average sales price of Gulfshore Blvd. beachfront properties in the second quarter was $1,155,024, representing a 17% increase over first quarter 2010, and slightly ahead of Q2 2009. Seven sales over $2,000,000 were recorded for the quarter versus three for second quarter 2009, and two during first quarter 2010. The highest sales price during the quarter occurred in Le Rivage at Park Shore at $5,400,000. The increase in sales over $2,000,000 is consistent with the market in general which experienced a surge of activity in high-end sales.
The Martinique at Moorings posted the highest number of closed units with five closings. Horizon House at Park Shore and La Mer at Park Shore followed with four sales in each building.
Average sales price on the bay increased 32% from first to second quarter 2010 and remained essentially the same as second quarter 2009 at $486,467. Prices of $1,405,000 at Bella Baia and $949,000 at the Tropics at Park Shore were the highest prices recorded for the bayfront segment during the period.
Summary
On July 1, 2010 there were 215 properties available on the Gulf and 81 on the Bay.
This represents an 11% reduction of Beachfront inventory and a 14% decrease on the Bayfront from end of first quarter 2010. Buyer interest remains strong for the beach and bay units. However, price continues to be the driving force behind the sales activity of the first two quarters of 2010. This report does not reflect newly pended sales that occurred during the first and second quarters, but which have not yet closed. When these closings occur, inventory levels are expected to drop to even lower levels. Stabilizing prices and a good selection of product in many buildings continue to provide great opportunities for the astute buyer. Your John R. Wood Realtors professional sales consultant can give you detailed information on specific buildings and locations in which you have a personal interest.
Supplied by Dottie Babcock, CFO of John R. Wood INC. REALTORS
For more information on Park Shore Naples or Moorings Naples, contact me direct!
“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC.
Copyright 2010 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This
information should be independently verified if any person intends to engage in a transaction in reliance upon it.”
Serving my purpose through content rich informaton about Naples, Florida real estate!
Best Regards!
Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223
www.ShannonLefevre.com
“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”
Gulfshore Blvd. Closed Sales
Average sales price of Gulfshore Blvd. beachfront properties in the second quarter was $1,155,024, representing a 17% increase over first quarter 2010, and slightly ahead of Q2 2009. Seven sales over $2,000,000 were recorded for the quarter versus three for second quarter 2009, and two during first quarter 2010. The highest sales price during the quarter occurred in Le Rivage at Park Shore at $5,400,000. The increase in sales over $2,000,000 is consistent with the market in general which experienced a surge of activity in high-end sales.
The Martinique at Moorings posted the highest number of closed units with five closings. Horizon House at Park Shore and La Mer at Park Shore followed with four sales in each building.
Average sales price on the bay increased 32% from first to second quarter 2010 and remained essentially the same as second quarter 2009 at $486,467. Prices of $1,405,000 at Bella Baia and $949,000 at the Tropics at Park Shore were the highest prices recorded for the bayfront segment during the period.
Summary
On July 1, 2010 there were 215 properties available on the Gulf and 81 on the Bay.
This represents an 11% reduction of Beachfront inventory and a 14% decrease on the Bayfront from end of first quarter 2010. Buyer interest remains strong for the beach and bay units. However, price continues to be the driving force behind the sales activity of the first two quarters of 2010. This report does not reflect newly pended sales that occurred during the first and second quarters, but which have not yet closed. When these closings occur, inventory levels are expected to drop to even lower levels. Stabilizing prices and a good selection of product in many buildings continue to provide great opportunities for the astute buyer. Your John R. Wood Realtors professional sales consultant can give you detailed information on specific buildings and locations in which you have a personal interest.
Supplied by Dottie Babcock, CFO of John R. Wood INC. REALTORS
For more information on Park Shore Naples or Moorings Naples, contact me direct!
“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC.
Copyright 2010 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This
information should be independently verified if any person intends to engage in a transaction in reliance upon it.”
Serving my purpose through content rich informaton about Naples, Florida real estate!
Best Regards!
Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223
www.ShannonLefevre.com
“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”
Monday, July 19, 2010
More To Come In Tiburon Naples Florida
It was just reported last week WCI had lost control of managing Tiburon Naples Florida and now today Naples Daily News reports they expect to start building in Tiburon as early as December. Single family homes and 2 unit attached villa construction are the only types of products on the slate as they state condo product (especially high-rise product)is still in oversupply.
Talking about oversupply, currently there are 49 properties available in Tiburon Naples Florida. There have only been 18 closed sales during the last 12 months...that's nearly 3 years supply!
Why would any developer want to start construction under those conditions? If you break it down a little further, there are 8 single family homes on the market, 1 sold during the last year and 1 is currently under contract. According to the article in the Naples Daily News, single family homes and duplexes are the two types of product WCI says they're going to focus on and pricing is supposed to stay between $200,000 and $700,000.
If the pricing is correct then I imagine there should be some quick sales in Tiburon considering the fact that the lowest price home right now is in Marsala at Tiburon listed for well over 1 million. It will be curious to see if they're just planning on shrinking the size of home or offering less features within the floor plan. I suppose time will tell....
News like this would stall my decision to purchase Tiburon single family homes unless there was something that exactly fit what I was looking for and I didn't care what I was spending or what it was truly worth...it's hard to know if you're getting a great deal if you haven't been dealt all the cards yet. I hate it when plans for a development take a huge turn...not that I'm saying that there's a huge turn taking place in Tiburon. I just think most of the people who purchased single family homes in Tiburon always expected them to be worth at least somewhere around 1 million....not 300,000 less.
If I were looking a Tiburon condos, I'd probably move forward....
Ok, that's all for today.
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
Talking about oversupply, currently there are 49 properties available in Tiburon Naples Florida. There have only been 18 closed sales during the last 12 months...that's nearly 3 years supply!
Why would any developer want to start construction under those conditions? If you break it down a little further, there are 8 single family homes on the market, 1 sold during the last year and 1 is currently under contract. According to the article in the Naples Daily News, single family homes and duplexes are the two types of product WCI says they're going to focus on and pricing is supposed to stay between $200,000 and $700,000.
If the pricing is correct then I imagine there should be some quick sales in Tiburon considering the fact that the lowest price home right now is in Marsala at Tiburon listed for well over 1 million. It will be curious to see if they're just planning on shrinking the size of home or offering less features within the floor plan. I suppose time will tell....
News like this would stall my decision to purchase Tiburon single family homes unless there was something that exactly fit what I was looking for and I didn't care what I was spending or what it was truly worth...it's hard to know if you're getting a great deal if you haven't been dealt all the cards yet. I hate it when plans for a development take a huge turn...not that I'm saying that there's a huge turn taking place in Tiburon. I just think most of the people who purchased single family homes in Tiburon always expected them to be worth at least somewhere around 1 million....not 300,000 less.
If I were looking a Tiburon condos, I'd probably move forward....
Ok, that's all for today.
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
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