Naples Real Estate Update

Hello Naples Friends! 

I want to quickly catch you up to speed with what I've been seeing and experiencing regarding Naples real estate so far this season.  Here it is...

1.  The general consensus is the tables have clearly turned in most Naples markets regarding seller confidence. (Even if evidence on paper does not fully prove full recovery)  Naples real estate negotiations are geared more in favor for the seller than the buyer at this time.  If you are a statistics person, you may find yourself a little disappointed regarding a seller's response in a negotiation as owners are tightening their positions on percentages off list prices and concessions.  Many of the negotiations I've dealt with this year have been trying at times and in some cases unsuccessful as some buyers still find an element of skepticism regarding the strength of our economy etc. while determining which way to go on their deal. 

2.  I found a large influx of stock market based professionals sniffing around Naples real estate in January. I worked with 5 professionals myself many of which were involved in hedge fund type business.  While the feeling was unanimous about uncertain economic conditions, I found some buyers tried to use that as a negotiating tactic (unsuccessfully) while others pulled the trigger and got their deal.  I thought this was a very curious wave through our market since many of the people I talked to felt like we are due another stock market correction sometime this year. This makes me wonder if that's why they're looking at repositioning some of their personal equity here.

3.  Even with the level of uncertainty I've seen, there is still positive traffic occurring in the Naples real estate market at this time. Here are the statistics for Naples properties that closed between January 1 to February 5th 2013 compared to last year:

1.  Naples sales were up 3% this January compared to last.
2.  Naples sales are up 38% for the first few days in February compared to last year. 
   
3. Naples property sales listed at one million and above are up 6% compared to last year.
4. Average list price to sales price ratio for Naples property increased 1.5% to 94.9%
5. Market time dropped 5%
   
6. Average list price increased 17%

On a side note I think it's curious I'm seeing a very tiny slight uptick in contract back outs this year...is that due to uncertainty or buyers feeling slighted when it comes time to negotiate repairs??? I'm not sure...

4.  Other big changes I've seen this year that won't be counted on paper is the seller's willingness to do repairs at their expense.  While some sellers will fix everything on an inspection report because they feel it is the right thing to do, some are now saying no to additional expenses.  For the past several years sellers have been willing to do just about anything to keep their deal together.  I've seen many instances this year where the seller was unwilling to do repairs at their expense.  This is something you need to take in account as a small percentage of people expect to use property condition as a time to renegotiate or achieve further concessions.  Repair concessions might be considered a bonus going forward.

5.  There's 93 new homes on the market right now!  I just hit the launch in Quail West and Mediterra last week.  There are some neat new design and materials they're using and it's definitely worth it to check out what's going on in the models if you get a chance.  Other locations where you can find a fabulous new Naples home is:
1.  Aqualane Shores
2.  Audubon
3.  Coquina Sands
4.  Escada at Tiburon
5.  Estuary at Grey Oaks
6.  Moorings
7.  Olde Naples (12 to choose from there)
8.  Park Shore (5 to choose from here)

That's all for now! Please remember if you're headed to town and want to hire me to assist you with your purchase to call in advance!  I want to give you the best service possible.

For my northeastern friends, stay warm and safe during this blizzard. 

Best Regards,

Shannon
Your Naples Smart Girl!

Audubon Naples Florida Update 10-5-2012

Audubon Naples Florida is on it's way to recovery with two new pending properties today.

Let's start with the Audubon real estate statistics:

There are 28 Audubon homes on the market and 1 Audubon condo with 3 homes currently under contract.

There are 6 Audubon condos that have sold during the past year.  That means if you are interested in an Audubon condo, you have the choice of one at this time.  This also means that if you own an Audubon condo and you've been waiting for the market to stabilize before putting yours on the market, now would be a great time to do it with a couple of words of caution.  Just because inventory is really low doesn't mean you get to pick any price you want and can expect it to sell.  I am seeing evidence all over town right now of people who are really inflating prices because they think since they're the only property on the market all rules go out the window.  That's simply not true. 

If you own a Montclair Audubon condo you have a terrific opportunity right now.  If you list your Audubon condo today relatively close to fair market value, you should have NO problem getting it sold but make sure you're at least within fair market value range because pricing it considerably higher is only going to lead to longer than necessary market times as historically proven.  Contact me for more details about how to get the most for your Audubon condo in the least amount of time.

If you're thinking about buying an Audubon condo, contact me direct.  There's a story here but since there's only one on the market I probably shouldn't single this one out publicly... :)

Here's what's happening with the Audubon home market:

Currently there are 28 Audubon homes on the market with 20 sold during the past 12 months and now 3 under contract leaving a 22 month supply of inventory.  This is excellent news if you're a buyer because you have more talking points for a negotiation here than many other locations around Naples.  Just glancing over the inventory I see a home priced at a TERRIFIC value. Unfortunately, I see some others that don't really make sense as far as pricing is concerned and even though the market has not leveled pricing (prematurely) is starting to rise.  If you're thinking about buying an Audubon home, make sure you or your agent is doing the homework because there are some points you want to keep your eye on here. 

Does this look like a time to buy in Audubon or what???

List prices for Audubon single family homes is up 7% compared to the Audubon homes that have sold.  If I were working with an Audubon seller and they wanted to sell this season, I would seriously refrain from padding prices right now unless they have something exceptional to sell but there are several strategies to get the most for what you've got.  Staging is one of them.  Call me for details!

If you are an investor who likes to remodel and flip there are some clear opportunities here since some of the lower priced homes are in need of a facelift.  The number of buyers who want to sign up for a colossal project aren't nearly as large as those who want to park their golf shoes at the door and start experiencing life in Naples right away.  They're willing to pay for a home if they don't have to gut and start over. Let me help you identify the best property to pretty up so you can make a profit!

If you're thinking about purchasing a Naples golf home or condo, call me.  I offer something unique to the Naples market and that is a 5 point buying strategy.  If you and I haven't talked about what that is, call me.  It gives you the best shot at cutting a great deal in Audubon or any of the 20 Naples neighborhoods I cover. 

If you're not purchasing in one of my Naples neighborhoods where I work, no worries.  I have a whole team who covers the entire market and can direct you to a professional who can do a fabulous job for you!

PS~ We're only on our 13th day of Fall and some of us are already getting snow! It's time to pull the Naples real estate trigger my friends!  That reminds me of a joke... What did the big furry hat say to the warm woolly scarf?  You hang around while I go on ahead...ha ha burrrr!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Audubon Country Club: A Great Value!

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!