Pelican Bay Naples Fl Real Estate Update

It's been awhile since you've seen a Pelican Bay Naples Florida real estate update out of me so let's not dally any longer!

There are a whopping 378 active listings in Pelican Bay right now with the lowest priced property currently priced at only $285,000 located in Laurel Oaks at Pelican Bay (that is a steal) and the highest priced property priced at $14,900,000 located in the Strand at Bay Colony

Of the 378 Pelican Bay properties for sale there are:

• 41 Pelican Bay single family homes
• 99 Pelican Bay low rise condos
• 25 Pelican Bay mid rise condos
• 183 Pelican Bay high rise condos
• 30 Pelican Bay attached and detached villas

There are currently 35 Pelican Bay properties pending with the lowest listed priced pending sale property listed at $270,000 (no brainer) located in Glencove at Pelican Bay and the highest priced pending sale rolling in at $5,795,000 in Bay Colony Shores

Of the 35 Pelican Bay properties currently pending there are:

• 5 Pelican Bay single family homes
• 15 Pelican Bay low rise condos
• 1 Pelican Bay mid rise condo
• 10 Pelican Bay high rise condos
• 4 Pelican Bay attached and detached villas

So far this year there have been a total of 105 Pelican Bay Sales with lowest priced sale selling for only $249,999 located in Laurel Oaks at Pelican Bay and the highest priced sale rolling in at a whopping $16,400,000 located in the Strand at Bay Colony once again!

Of the 105 Pelican Bay Sales there are:

• 10 Pelican Bay single family homes
• 33 Pelican Bay low rise condos
• 4 Pelican Bay mid rise condos
• 37 Pelican Bay high rise condos
• 21 Pelican Bay attached and detached villas

Obviously some segments of Pelican Bay are doing better than others with Pelican Bay villas leading the way in sales. In fact there's barely a year of Pelican Bay villa inventory on the market right now! Low rise condos aren't doing bad either but the biggest glut of inventory clearly falls in the high rise product in Pelican Bay.

Sellers: If you're thinking about selling...choose your pricing very carefully. Properties listed over $500,000 are not seeing near the traffic compared to properties priced below $500,000. Be sure your properties are in the best possible condition as well. Pelican Bay properties that are updated, clean and are priced well are clear winners while anything less can sit for a LONG time. Most importantly, if you really don't care if you sell right now, either take your place off the market or wait a bit...

Buyers: Your best negotiation will probably occur in the price ranges above the $500,000 price range but don't expect a heavy discount guarantee. Market times on many of these listings will prove that sellers can and will hold out for their price. There are already some great deal listed but do not expect to realize huge discounts off fair market value and rule but more of an exception.

For more information regarding Pelican Bay, contact me direct!

Best Regards,

Your Naples Smart Girl!

Has The Naples Florida Real Estate Market Stabilized?

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!

A Southwest Florida Real Estate Expert...

I remember the lazy days of real estate when I sold in a tiny little market in Granbury Texas. Those were the days when the real estate market didn't change much and once you learned it...well you pretty much knew it...forever. I loved those days when I knew nearly all of the market by heart and could blurt out market data off the top of my head with amazing accuracy...

The Naples Florida market is far from lazy. Even in rough times it changes and when I mean changes...I mean in every direction from amount of inventory to pricing. I feel like I've seen a complete market cycle now coming to Naples Florida when the market was slow after 9/11 and increasing in strength to watching it change on an hourly basis when it was really kookie! I used to search mls 50 times a day back then begging for something new to hit the market so I could sell a property to somebody patiently waiting for the property of their dreams to go live...

Just look at what's happened on June 16th in Southwest Florida during the last 5 years:

After a quick look one might think there hasn't been much of a change but looking closer you can see a magnificent difference of activity and success or lack thereof.

If you get what the data means...GOOD FOR YOU!

If you don't...well, that's why you want to contact a Realtor who can analyze this stuff for you or at least the part of the market you're interested in.

Buying or selling in a market that NEVER changes or changes ever so slightly doesn't require the need for a real estate agent as much. It's also alot easier to find an agent who has a good idea of what's going on and can assist you with your purchase or sale.

If you're considering buying or selling in Southwest Florida...well there are drastic changes that happen continuously and that's why you want someone who keeps up to speed on those changes and can give you current information on the area or type of product you're considering. This is why I personally shy away from those who attempt to do this part time or who claim to work huge geographic areas like the whole Southwest Florida region. It is impossible to be an expert in either of those scenarios!

That's why you want a specialist in the location you're interested in. If you need a REALTOR in Bonita Springs, Fort Myers, Estero or Marco Island...I know experts who can help you out tremendously!

If you're thinking Naples...well...call a Smart Girl! :)

Best Regards,

Your Naples Smart Girl

Understanding Your Contract

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 competetent 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.

Most Still Choose Naples Florida As Their Only Purchasing Location!

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!

Quail West Schools Lee County & Collier County

I noticed someone found my Naples Florida website today while searching for Quail West Schools. Since there isn't really an easy way to find information about schools for Quail West, I thought I would add them here:

Collier County School district has an easy to understand website: (http://www.collier.k12.fl.us/)

The Collier County side of Quail West School Districts Are Listed Below:

Elementary: Veteran's Memorial (239) 377-8800 Just opened in 2008!

Middle School: North Naples (239) 377-4600

High School: Gulf Coast (239) 377-1400

The Lee County School district isn't defined as well. After doing some quick research on the net (http://www.leeschools.net/schools/), I noticed there wasn't anything available stating where kids who reside in the Lee County portion of Quail West will attend school. So I picked up the phone (239-334-1102) and asked. The response was, something to the effect of you will need to come in with your driver's license and proof of where you live before they will tell you where your kids will go to school but she did confirm that children in that neighborhood would go to school somewhere in the South District...here's the map:

I'm not officially a parent yet but if I were contemplating purchasing in Quail West, I doubt I would feel comfortable purchasing on the Lee County side with the concept that my kids could in some cases go to school 45 minutes to an hour away from home. As you can see in the map, according to the phone call...it could be possible that children in Quail West may be going to school as far as Sanibel Island...really??? That's crazy!

I assume you would need to got directly to the school district to hopefully get a better answer or you just might want to focus your efforts of home purchasing on the Collier County side of Quail West.

PS~ Mediterra works the same way!

Best Regards,

Your Naples Smart Girl!