Bay Colony Naples Florida Update 4/23/12

It appears the tables have turned in favor of the sellers for Bay Colony Naples Florida this year. With barely over 9 months of inventory buyers were found scrambling for the best Bay Colony choices this year and some were simply not happy about it.

As an example I received a call from a lady earlier this season who sounded exasperated about an experience she was going through with her husband.  They had just tried to purchase a Bay Colony beachfront condo and had lost the deal because  they ended up in a competing situation and lost. They felt like maybe they had been slighted and wanted to know my opinion about what was going on in the Bay Colony market.

Yes, it did heat up quite considerably this year and some buyers found they had lost their negotiating power. In fact I had buyers who simply decided not to purchase this year because he's hoping if the election doesn't go well, they'll have more power next year.  He's not the only one who felt that way, I had two buyers who are hoping if taxes go up considerably next year, some Bay Colony sellers may decide to sell which will push inventories up a little and give buyers the negotiating power they've grown accustomed to during the past several years.

Current inventories are light and even though we had a ridiculously mild winter up north, many buyers still have their eye on acquiring Bay Colony property which is a strange phenomenon in itself. Not that we don't sell property when it's nice up north...we just don't sell alot of it.  As an example, there were 7 properties in Bay Colony that went under contract in April last year (when many were experiencing record snow falls. There are currently 7 Bay Colony properties under contract so far this April).  Demand is increasing. Period.

The other point that has me a little worried for future Bay Colony buyers is we have sold almost all entry level Bay Colony properties.  As an example, for just under one million, you can acquire a Bay Colony condo. That is the lowest priced unit to get into Bay Colony, it has been at that price for awhile.That one is located in Mansion La Palma (if you like tennis, you will LOVE Mansion La Palma). If you want beachfront in Bay Colony now you're going to have to bring nearly $2,000,000 to make it happen.  The lowest priced unit on the beach this season was $1,350,000 those days might be over for awhile. Another example is located within the Bay Colony home statistics.  The lowest priced home in Bay Colony was on the market for $2,695,000. Now the lowest priced home is $4,495,000.  Clearly those numbers now price some of the Bay Colony prospect base out of the market and I won't be surprised if I start to hear grumblings about how somebody should've pulled the trigger when they could've.

As a matter of fact, I received a call exactly like that on a a ridiculous deal that took place in Pine Ridge earlier this year. Now those people with a specific set of requirements have no options left but to build...in comparison, building a condo on the beach in Bay Colony...not an option.

That's why I think there's still traffic in Bay Colony and why I think we'll continue to see sales through the off season.

Now is a good (not terrific) time to be purchasing in Bay Colony because you do have some obvious talking points but obvious talking points are just part of the ingredients to a successful Bay Colony negotiation.  I encourage you as a potential Bay Colony buyer to be strategic. I can help you identify the perfect Bay Colony property and help you prepare a terrific negotiating strategy but it may take some tenacity on your part to get it done.  Also, I don't know many people who enjoy Christmas shopping in July just as it can be tough to get fired up about purchasing in Naples when you're thoughts about Naples have been mentally tucked away like last season's sweaters but....if you think there's going to be any good negotiating this next fall if inventories or low and we get colder quicker (since we seem to be on this 1 to 2 months in advance weather pattern anyway)...you might guess again. Because if the snow starts blowing say in October AND we don't have a great deal of inventory AND the election goes the way many of us hope....it will be tougher than you might have guessed.

Call me and let's get started today so that by the time all that other silliness starts to happen, you have the perfect Bay Colony place to rest your smart self!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223

Remington at Bay Colony Naples Florida Update

Remington at Bay Colony Naples Florida update.

Ok, so if you've been following my focus on Bay Colony unfortunately, this one is going to sound similar. I can't confirm my hunch but there might be a "who can stay on the market without selling the longest" contest going on in Remington at Bay Colony right now. 



This is a VERY unfortunately circumstance for the building because quite frankly, the Remington has SO many fabulous attributes, services and amenities, not to mention her second to none location on one of the most luxurious Naples beaches strategically sandwiched between the Ritz Carlton and the Bay Colony Beach Club...can it get any better? Maybe, if you have double the money we can get you into the Windsor but that's a Naples Florida blog post for a different day.

Currently there are 4 units on the market in Remington with 2 sales during the past 12 months...yes, that's 2 years of inventory but look at the bright side, in 2009 there was only one condo sale and one pool cabana sale so they doubled their action in 2010!

So why would you pick Remington over one of the other Bay Colony Beachfront buildings?  One of the most unique features besides their magnificent floor plans is the gentleman's agreement Remington at Bay Colony has with the Ritz Carlton.  Nearly all of the Ritz Carlton's services are available at Remington so if you want maid service, you can get that...room service? Sure! Not to mention you can take a short stroll over there and utilize any of the amenities there (except the spa) as if you were one of the guests.  Not a bad perk for sure. 

Of course there's a downside to everything.  One being that the units in Remington are a bit pricey. Not everybody can afford a unit in Remington with the lowest priced units starting at nearly 3 million.  But if you can afford that price range and you're looking around Bay Colony, you have to consider all of the other options you get here compared to any other building. To me, it just doesn't make sense to go anywhere else because chances are, if you can afford 3 million and this is your second, third, fourth place to say...get out of the snow...well then don't you want all the perks to go with it? Of course you do so check out what Remington at Bay Colony units are currently for sale and give me a shout and let me know which ones you want to see!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Contessa at Bay Colony Naples Florida Update

Contessa at Bay Colony sales performance run more in the lines of her sister buildings Brighton at Bay Colony and Biltmore at Bay Colony compared to her rock star selling Carlysle at Bay Colony high rise. 



There were a modest 3 sales in 2010 with 7 Contessa at Bay Colony units presently on the market.  Of course it doesn't take an engineer to figure out there's just over a 2 year supply of inventory.  That's down 2 sales compared to 2009 so what's causing the sudden slow down of interest? 

Curiously, there were 3 units that sold in December of 2009 and none this past year...apparently Santa came up with other gift giving options and if you too are a fan of Fox News, they reported just today that the big gift giving trends were shoes, clothing and jewelry.  I don't know about you but if I got a sweatsuit instead of a Bay Colony condo for Christmas and I found out the Bay Colony condo was actually slated as a consideration, I'd be a little disappointed. LOL

But seriously, Contessa at Bay Colony  had a fabulous make-over a couple of years ago both inside and outside the building and I recently learned there are a few people who were still unaware that they fixed a few of the major drawbacks of Contessa.  Of course they couldn't fix the low ceiling problem that some of our prospect base detests but they did fix the outdated common areas and gave a fresh clean lined contemporary lift.  They also got rid of that dreadful artificial grass and gravel that was on top of the garage that was such a prevalent disturbance to the lower floor views. 

There are a few amazing features some may not already know about if they've never been in the building like for example from the 1st and 2nd stack you have the most amazing far off views of Park Shore and the almost surreal vision of the Strand at Bay Colony.  I had a 2 stack unit on the market a couple of years ago and I NEVER got tired of looking at that view.  I was happy to sell it but miss being able to see that and the dolphins play everyday. 

So if you're thinking about purchasing in Contessa at Bay Colony, you might consider taking a peek at the Contessa at Bay Colony condos for sale and if you're thinking about selling your Contessa at Bay Colony unit, you should call me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Bay Colony Naples Market Update

There were a total of 37 properties that closed in Bay Colony Naples Florida in 2009. That's just over half of what closed in 2008! Bay Colony like the rest of the Naples beachfront communities felt a little impact due to the economic downturn most likely from the dip in the stock market back in September 2008 among other factors.

Bay Colony was considered one of Naples shining stars when it came to real estate activity but sales traffic decreased considerably while we found inventories on the rise for the first time in years in 2009.

It's not just the economic downturn that kept buyers away. Feedback I received while showing and discussing options with buyers this year resulted in a small handful of rejections for Bay Colony. Most prevalent were the fees Bay Colony fees. Bay Colony lives like a country club. When you add in the Bay Colony beach club, Bay Colony tennis club and other amenities Bay Colony has to offer, you know all that has to come with a price but the price is just something some buyers weren't willing to pay this past year. It's always been a topic of discussion but I haven't actually see it prevent buyers from buying as often as I did in 2009. It's all part of that, "we're trying to pay closer attention to our money" movement going on right now.

Another drawback I heard about was that Bay Colony is starting to show her age. The grounds, beaches and amenities are still fabulous but the units and common areas in many of the buildings and some of the single family properties available are REALLY starting to show their age. Hey, aging gracefully isn't just for the ladies as we all know. Contessa at Bay Colony has already had a fabulous face lift and there are some other building that have made improvements and talks are in the works with some of the other ones but....that didn't stop some people from choosing other locations this year due to the perceived maintenance and construction issues down the road.

The other behavior I saw from buyers this year was that pricing in Bay Colony was too high. They expected buyers to either come way off their price during negotiations or they just simply went elsewhere. In some cases low offers were made, buyers split only to come back later and find either their selections had sold or sellers were still not as flexible as they'd hoped.

Here's a run down of each Bay Colony community now:

Overall there are a total of 55 Bay Colony Listings. That's just over 14 months supply...not too terribly bad but not typical for Bay Colony either.

Bay Colony Shores:
5 Active
1 Pending
6 Closed in 2009
Bay Colony Shores had an excellent year and although this location was sluggish in 2008, she recovered nicely in 2009. Bay Colony Shores is STABLE.

Biltmore at Bay Colony:
4 Active
1 Closed in 2009
Biltmore at Bay Colony has some challenges!

Brighton at Bay Colony:
4 Active
2 Closed in 2009
There's a nice opportunity in Brighton at Bay Colony!

Carlysle at Bay Colony:
4 Active
2 Closed in 2009
Carlysle at Bay Colony has some challenges and there is some opportunity here as well.

Contessa at Bay Colony:
3 Active
5 Closed in 2009
Contessa did GREAT in 2009 and has some beautifully remodeled units available!

Mansion La Palma at Bay Colony:
1 Active
1 Closed in 2009
Mansion La Palma is a STABLE community.

Marquesa at Bay Colony:
3 Active
1 Closed in 2009
Marquesa at Bay Colony is a little uneven but there is a terrific valued property available right now!

Remington at Bay Colony:
5 Active
1 Closed in 2009 and a beach cabana :)
Remington at Bay Colony has an oversupply of inventory right now.

Salerno at Bay Colony:
5 Active
2 Closed in 2009
Salerno has an oversupply of inventory right now.

Strand at Bay Colony:
1 Active
3 Closed in 2009
Strand at Bay Colony did exceptionally well in 2009.

Toscana at Bay Colony:
2 Active
5 Closed in 2009
Toscana at Bay Colony did very well in 2009

Trieste at Bay Colony:
11 Active
3 Closed in 2009
Trieste has an oversupply of inventory right now...still.

Villa La Palma at Bay Colony:
0 Available
2 Closed in 2009
Villa La Palma at Bay Colony did well in 2009

Vizcaya at Bay Colony:
5 Active
1 Pending
1 Closed
Vizcaya at Bay Colony has a an over supply of inventory right now.

Windsor at Bay Colony:
2 Active
1 Closed
Not much to say about the market here in a broadcast but you can call me direct for details. :)

If I were going to list my Bay Colony property right now I would start by calling me. Call me if you want to sell your Bay Colony property and I'll give you a few very compelling reasons why.

If I were considering purchasing in Bay Colony right now, I would call me. Call me and I'll give you a couple of compelling reasons why you want me to assist you with negotiating your Bay Colony purchase.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Bay Colony Naples Florida Videos

I spent some time filming and uploading videos of Bay Colony Naples Florida to my website last week in a continued effort to provide you with the information you need to help you make a sound and happy purchasing decision.

Here are the videos I have uploaded so far:

Biltmore at Bay Colony

Contessa at Bay Colony

Remington at Bay Colony

Salerno at Bay Colony

Windsor at Bay Colony

(disclaimer...these are provided just to give you a better idea of what the high rises at Bay Colony have to offer...these are not professional videos.)

I hope these clips serve as a source of information about some of the Bay Colony high rises. For more information regarding Bay Colony Naples Florida, feel free to contact me direct!

Best Regards,

Your Naples Smart Girl

Pelican Bay Naples, Florida Real Estate Statistics Don't Lie!

The calls and emails regarding Pelican Bay homes and Pelican Bay condos continue at a steady rate most of which are still beginning with "I want a deal". I've had the following conversations with countless people lately and it continues to be a hard conversation with buyer's not quite believing what I have to say based on all of their news they've gathered from various news sources across the county.

This post was written for not one buyer in mind but four to help me get some valid points conveyed.

If you too are looking for a Pelican Bay deal. DO NOT DELAY!

Here are some more examples of Pelican Bay's best deals now pending contract or recently sold:

Avalon at Pelican Bay:
What I considered to be the best deal in Pelican Bay just went under contract with a list price of $350,000. It was reduced from $375,000 On February 1, 2008. Pended contract on February 6, 2008.
Next one available is $399,000 - Nearly $50,000 for a smaller unit which backs up to a busy road. The pending unit backed up to a park and was a second floor (bigger) unit.

Barrington Club at Pelican Bay:
A unit sold on December 21, 2007 for $400,000. Next one available is listed for $492,000. That is a $92,000 difference.

Brighton at Bay Colony:
A unit on the 19th floor listed for $2,695,000 went pending on January 22, 2008. It was only on the market 4 days. YES...It was a screaming deal! Another unit on the 10th floor sold on January 15, 2008 for $2,600,000 it too was a screaming deal. The next one available is on the market for $3,295,000 it is on the 7th floor. That folks is a 695,000 dollar difference.

Need more proof?

Cap Ferrat at Pelican Bay:
A 4th floor unit listed at $1,395,000 went under contract on January 1, 2008 (yes...while some people were nursing a hang-over somebody else was hunting deals). The next Cap Ferrat unit available is on the market for $1,795,000...yes this one is a bigger unit...yes it is on a lower (less desirable) floor and yes...if that New Year's buyer bought it for full price, that is a $400,000 difference!

Carlysle at Bay Colony:
A 3rd floor unit listed at $2,295,000 went under contract on January 2, 2008 (maybe because they were nursing a hang over the day before). They still won because the only other unit available in Carlysle at this time is listed for $4,200,000. Yes it is on the 20th floor and is a bigger unit and yes it is listed at nearly 2,000,000 more than the one under contract right now!

Marbella at Pelican Bay:
Unit 502 closed last December for $795,000. Unit 802 closed for $820,000 last October. Next one available...#204 for $1,245,000 a $425,000 for a less desirable floor...bigger yes...not as great of a view.

Serendipity at Pelican Bay:
One sold January 2nd for $320,000...there's another one (a little smaller) currently available for $450,000...$130,000 more!

Still not convinced?

Oak Lake Sanctuary:
Sorry...nothing available. Last unit available sold January 8th...(must've been some party)

Renaissance at Pelican Bay:
Sorry...nothing available. Last unit available went under contract on January 23rd...

Hopefully there's enough examples here for you to get my point.

Let's just assume from now on going forward:

• Unless you're reading or watching something specifically about Pelican Bay or Bay Colony that perhaps those other real estate related stories don't really count.
• The most reputable resource regarding Pelican Bay or Bay Colony isn't CNN or MSNBC or FOX or even the Naples newspaper.
• The most reputable resource might be the real estate agents who are working that market everyday and who are talking to the Pelican Bay and Bay Colony seller's, buyers and the prospective clients who call and email requesting more information and talk about and in fact are writing offers and closing contracts for those properties.
• I don't lie about what I see, hear or report. Neither is the agent who has had 8 showings on her 2 day old Bay Colony listing or the MLS statistics.
• I'm too driven to success to try to entertain you with inaccurate information.
• I'm too ready to help you purchase to forward you outdated information.

By the way...some of my most intelligent buyers are getting it.

I expect to write two more great offers tomorrow.

Brighton at Bay Colony Market Update

The Brighton at Bay Colony is a luxury high-rise condominium located directly on the beach in Bay Colony, the most prestigious subdivision in Pelican bay. This magnificent building was built in 1994, features a total of 75 units within 22 floors and offers an outstanding list of amenities including a grand lobby, billiards room, fitness room, pool, hot tub, barbecue area and private beach access just to name a few. Unit sizes begin at about 2,760 square feet of living space and continue over 7,000 square feet of living space for the 5 bedroom penthouse. There are two assigned parking spots available located underneath the building. A unique feature about the Brighton at Bay Colony high-rise is the contemporary curvature of the building footprint along with the glass railed terraces which allow the ability to fully take in the beautiful Gulf of Mexico landscape.
Rental policies are strict but most Brighton at Bay Colony condominium owners do not consider renting their units as a personal option. Both a Bay Colony Association membership and Pelican Bay Association membership are required which means all of the Pelican Bay and Bay Colony amenities are available with the exception of golf which can be purchased for an additional price. See The Brighton at Bay Colony Condos.

Current Happenings in Brighton at Bay Colony

There is only one unit available currently in the Brighton at Bay Colony. It is currently listed for $2,875,000 and is a beautiful unit offering over 3,300 square feet of living space located on the 10th floor with outstanding views of the Gulf of Mexico. The unit is owned by the original purchaser and appears to be in absolute excellent condition as they have rarely used the condo. The community room at Brighton is currently under construction. I peaked in a couple of days ago and as it stands right now it is completely gutted. I've been told that the project will be complete by season. It is rumored that there will be two more units available soon so if you have an interest in the Brighton at Bay Colony, contact me for more details at shannon@shannonlefevre.com or direct at 239-595-6223.

For information regarding other Bay Colony Beachfront condos:

Biltmore at Bay Colony
Remington at Bay Colony
Windsor at Bay Colony
Contessa at Bay Colony
Brighton at Bay Colony
Carlsyle at Bay Colony

For information regarding other Bay Colony Communities:

Bay Colony Shores

The Strand at Bay Colony

La Palma at Bay Colony

Vizcaya at Bay Colony

Mansion La Palma at Bay Colony

Marquesa at Bay Colony

Salerno at Bay Colony

Toscana at Bay Colony

Trieste at Bay Colony

If you're interested in buying or selling any Naples Florida real estate, I am always happy to assist.