Beauville at Pelican Bay Update

Beauville at Pelican Bay has been pretty quiet during the past year.  Here are the current stats:

• 2 Beauville at Pelican Bay homes are for sale.
• 1 Beauville at Pelican Bay sale occurred during the past 12 months.
• None are under contract.

Technically there's a 2 year supply of inventory in Beauville but honestly, working with such small numbers, I hardly consider that fair.  The unit that sold had some lovely updating and backed up to a nice common area just like one currently on the market for a higher price.  The other listing offers a special feature many people will really appreciate and if you don't mind doing some updating, you could end up with something super amazing there.  While pricing has gone up in Beauville, you can't blame the owners there. After all, there are only 26 Pelican Bay villas on the market right now. That is SLIM PICKINGS!

If you're a Beauville at Pelican Bay seller: There's no harm in a little more competition at this point and if you have a nicely updated villa, you could stand to do well with pricing right now provided all your neighbors don't decide to go on the market at the same time.  If you have a unit that requires updating keep in mind that even with the low inventory of villas in Pelican Bay, you're still probably going to have to sell at a discount to get your deal done.  The reason why is because you're probably going to have to sell to an end user who doesn't mind a project and many of those buyers want to be romanced by the price. Investors who purchase, remodel and flip definitely need to be romanced by price...If you have the time and money to do the updating, you might come out ahead provided you make the right selections.  If you have an updated unit and it is already staged well...then price is really the biggest thing you need to determine although a smart marketing plan is extremely important as well. Call me to assist you either way and we'll help you accomplish the goals you have in mind.

If you're a Beauville at Pelican Bay buyer: The two on the market right now are pretty interesting...especially that one with the special feature.  I can't go into details now but if you take a peek at the listings you can probably figure it out. You'll want to have more than your normal tired talking points when you go to negotiate. I'm finding the more compelling the points are, the better chance you have of getting your deal done on or near your terms. Even though this neighborhood is technically in over-supply, keep in mind that Pelican Bay villas as a whole is grossly under-supplied right now and I wouldn't be surprised if the inventory wasn't even more scarce mid season even with the expected influx of inventory set to hit the market within the next few months.  It always helps when you're working with an agent who knows the product, knows the market and can help you with a winning strategy to secure your next property.  Give me a shout and I'll be happy to assist!

For more information regarding Beauville Naples Florida or to see Beauville Pelican Bay homes for sale, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Bay Villas at Pelican Bay Update

WHOA! Bay Villas at Pelican Bay had a terrific year!

Current stats:

• 0 Bay Villas at Pelican Bay villas are for sale
• 4 Bay Villas Sales occurred during the past 12 months
• 0 Pending at this time
  

Not much to report but a big high five to the property owners in Bay Villas for selling all of their inventory. Pelican Bay villas as a whole is doing quite well as you may have read in a recent Pelican Bay blog post with only 8 months of inventory left on the market at this time. 

If you are a Bay Villas buyer you might consider some of the other Pelican Bay villa options still available and be ready to strike.  I had a few buyers interested in Bay Villas last year and nobody struck a deal that stuck.  You may feel hesitant to purchase at or close to asking price in an economy as dark as this may seem but you may also find yourself without a villa as well.  The average list price to sales price ratio in Bay Villas is 95% the best negotiation struck was at 91% of list price.  I also had somebody who wanted to wait til the end of season to make a better deal against my best judgement.  When they called to see review their options at the end of season, they were all gone. I can't imagine for the life of me that there won't be something that pops on the market sometime between now and season but act fast. I know there are already people keeping their eye out with what can be considered now as pent up demand.  To see Pelican Bay villas, contact me direct!

If you are a Bay Villas seller, CONGRATULATIONS!  You're in a super spot provided a bunch of your neighbors don't decide to do the same thing at the same time.  If your unit has been updated and shows well, you can expect to do well on your price.  If your unit needs updating and you want to sell this season, you'll want to be careful not to price yourself out of the market.  Keep in mind just because you may be the only show in Bay Villas, many buyers are flexible enough to look at other Pelican Bay villa communities.  Your best shot is to call me and I can assist you with the details!

I hope you enjoyed your Bay Villas Naples Florida update! For questions about Pelican Bay or to see Pelican Bay homes and condos, contact me direct! See you next time!

Best Regards,

Shannon Lefevre, PA

Bay Colony Naples Florida Update

Bay Colony Naples Florida Update!

I know I said I was going to write about Pelican Bay sub-communities separately, and I will...but we can't leave out Bay Colony as a whole! So here it is!

Bay Colony has a LEVEL amount of inventory...in fact in a short period of time it may even be technically under-supplied!

Bay Colony Active Listings = 38
Bay Colony Solds (During Past 12 Months) = 38
Bay Colony Properties pending contract = 4

Market time in Bay Colony is shrinking! Average market time for properties that have sold is 270 days, for properties pending it's 671 days and for Bay Colony properties that remain on the market 244.

List price to sales price ratio is 90.21% but somebody actually negotiated a deal last September for only 68% of list price. WOW! That doesn't happen very often!

At first glance it looks like Bay Colony is getting less expensive since the average list price per square foot of the Bay Colony properties that remain on the market come in at $743/sq. ft. and the sold price per square foot average is $786/sq. ft. but ultimately that is because we had two homes in The Strand at Bay Colony sell during the past 12 months.  Strand homes are the biggest homes in Bay Colony and the only single family homes available on the beach in Pelican Bay. 

You're going to find some Bay Colony High Rise buildings doing very well and some with a slight over-supply of inventory. Some of this is going to be properties that have just hit the market in preparation for the upcoming selling season.

BUYERS~ Do not expect to go into negotiations with just a run of the mill, "the economy is in the toilet" negotiation tactic here. Many owners will hold out for their price as proven by the seller who owned Brighton at Bay Colony 1702. I personally had 2 people interested in that unit who were not willing to pay what the seller wanted.  The owner ended up getting over 95% of his list price...much less than what my buyers were willing to pay.  While it is always great to have a negotiating plan (when you work with me, I provide one to assist you) it must be understood there are some sellers here willing to leave a few dollars on the table to get the deal done, some sellers are more interested in the bottom line and can/will wait. If you think you're ready to make a Bay Colony purchase. Call me to get started!

SELLERS- If you are thinking about selling I would strongly consider reviewing the market in your building or subdivision first and making your decision based on the amount of inventory already on the market if possible. If you don't care about that and you want to sell anyway, property condition and price are two HUGE key factors.  Hard Contemporary decor is not a huge selling point here.  If you have decorated your unit in this fashion, you might consider having your home staged to sell fast and even net more money.  If you have a unit in original or near original condition, it may be most advantageous to do some remodeling if time and money permits. Many units are starting to show their age in Bay Colony and this may become a problem for people who want to net a certain amount or sell quickly.  Pricing your Bay Colony property properly will alleviate any market time issue.
For more information on how you can sell faster and net more, call me direct!

You can expect to see more updates about the individual sub-communities of Bay Colony as we go. 

PS~ I received a call from the sweetest lady from Boston today who is in Naples with her husband and are ready to see Pelican Bay high-rises.  I absolutely LOVED talking with her today and look forward to assisting you with your Pelican Bay endeavors as well!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Barrington Club at Pelican Bay

Barrington Club at Pelican Bay is UNDER-SUPPLIED.

There are 4 Barrington Club condos for sale
5 Barrington Club sales have occurred during the past 12 months.

Negotiations have tightened with the average list price to sales price ratio currently at 92%.  One price INCREASE has already taken place but that is the only sign of prices increasing for the neighborhood at this point. While pricing across the board remains somewhat stable for the most part, it does appear the best deal was snagged last April when a rare property in Pelican Bay sold as a foreclosure for only $315,000. 

If you are a buyer you will want a creative agent to assist you with your negotiations but regardless of how creative you and your agent can get, it may be unrealistic to expect a huge discount off the list price in this neighborhood. Call me and let's see what we can get accomplished for you.

If you are a seller and there's anyway you can do some remodeling before you go on the market, this may be what sets you apart from your competition and how you may net the most possible. Pricing along with condition is key here. Call me for ideas about pricing and other strategies you can use to help you get your unit sold.

For more information about Barrington Club at Pelican Bay, contact me direct!