Biltmore at Bay Colony Naples Florida

Biltmore at Bay Colony has had a tremendous year! Here are the current stats:

• 3 Biltmore at Bay Colony condos are currently available.
• 6 Biltmore at Bay Colony condos have sold during the past 12 months.
• 0 Biltmore at Bay Colony homes are currently pending.

That means there's only 6 months of inventory in Biltmore at Bay Colony right now. 

While we're on the topic of decor...let's talk about decorative borders.  You know those silly 6 to 9 inch strips of wall paper we used back in the 80's to decorate the top couple of feet of our walls most commonly found in our kitchens and bathrooms. This is a good time to just let it be known that if you have that....it needs to go...sorry.  When buyers ask me for properties that have been updated and I see those borders, 9.9 times out of 10 that listing gets knocked off the must see list...unless there's nothing else to show.  Of all the different things we can do to update a property a little paint can go a really long way in making a unit look SO much better and it's one of the least expensive updates you can do. Besides looking better, paint can also give your unit that, "just been painted" smell and believe it or not some people feel the same way about that as they do that, "new car smell". 

If you're considering purchasing in Biltmore at Bay Colony, pricing has appeared to go up a little. (Can't really blame them) I also see where the average list price to sales price ratio is at a higher than Pelican Bay average coming in at 94% so don't expect to do a whole lot of bickering unless you and/or your REALLY SMART AGENT can put together a compelling negotiating plan.  There are some units that don't require a complete remodel available here which is worth a little something to most Bay Colony buyers.  There's also a nice cross section of opportunities here too so if you like a high floor, a low floor or even something in between, you can find that now. Lastly, you have 6 Biltmore at Bay Colony comps to analyze to make sure you're not overpaying when you go in to negotiate.  Call me today to get started!

If you're considering selling your Biltmore at Bay Colony unit, you might want to consider sprucing up if you have an original unit or staging your property to sell for maximum price.  Much of your competition has caught on to the concept of staging and if you have not, you'll want to call me to find out more about this.  You might be able to ask a few more dollars for your unit depending on what you have to offer but make sure you don't overprice your property or you may find yourself sitting there for awhile.  Also, get on the market within the next month or so if possible.  Many people have already started their Bay Colony searches online and will be making their showing selections shortly and you don't want your unit to be missed.  Let's get going now so we can get your property sold this season!

That concludes the Biltmore at Bay Colony good news.  Give me a shout when you're ready for me to help you out more!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Biltmore at Bay Colony Update. 1-3-11

Biltmore at Bay Colony Naples, Florida did not lead the Bay Colony community in production or stabilization during the past 12 months.  In fact this is one Bay Colony high-rise that on paper isn't performing as well as some of her sister buildings and some heavier negotiations might be possible for this reason.  At least there's an intelligent, argument we can discuss when presenting an offer.  During the last 12 months only 3 Biltmore at Bay Colony units sold with 6 presently on the market. The average list price to selling price is only 85% which reflects the concept that sellers are maybe a little more optimistic about the value of their unit than maybe they should be.  That number is down compared to the overall Pelican Bay average which sits at 91% right now.


While we're on the topic of list price let's discuss negotiation strategy for a moment.  Naples Florida attracts people from all over the globe who have already pretty much learned negotiation strategy from their experiences in other locations.  Because of that Naples doesn't have a universal way of thinking when it comes to pricing or purchase negotiations which can be aggravating for people who think it should be done the way they've "always done it back home".  For reasons like that, it's always best to take a look at the numbers and have an intelligent explanation as to why you as a buyer or seller are doing something but unfortunately, I've been involved in a great number of transactions here when I ask the listing agent how they determined their price they just shrug their shoulders or if I ask the buyer's agent how they decided to offer the amount on paper they just look at me with a blank look on their face. 

Have a detailed plan when negotiating no matter what side you're on.  I can help you come up with a plan whether you're a buyer or seller that will make your number make sense to anybody who will listen.  Of course, I can't guarantee the other side will listen but I can help your success rate overall. :) 

• Buyers: it takes more than cash/quick close to get special concessions in Naples.  Over half of our transactions are typically cash...so while that's unusual in your market, it's mostly expected in ours.  Especially when it comes to Naples luxury real estate. 
  
• Sellers, it takes more than a new roof, water heater and air conditioner to bump the price up past fair market value.  Despite what your agent thinks, most people expect those things to be in good working condition when they purchase and if you end up footing the bill on those sometimes expensive maintenance issues, it's never considered an upgrade you'll make money on.

In a "normal" market, the listing agent educates the seller about the average spread between list and sales price and for that reason the seller has priced their unit accordingly.  Typically, they won't be insulted when a motivated buyer comes in close to or just under that difference on the initial offer. This IS Naples though and it's not out of the question that you'll come across a bullheaded seller who thinks their property is worth way more than the numbers prove even if they haven't done anything special to their unit.  I know of two units in Bay Colony right now where the seller believes their property is worth considerably more than the rest of the world does.  Market time, multiple lower offers and everything else hasn't been enough to sway the seller's opinion and because the seller has the ability to hold....so it sits. 

Every once in awhile sellers and seller's agents are not most interested in holding on to every penny on the deal.  This is largely due to the fact that the seller has a definite plan and they're not going to let something like a few dollars prevent them for accomplishing their plan.  I know a few of those kind of sellers in Bay Colony as well...these are the reasons why you work with an agent who has some inside intelligence.

There is a 2 year supply of inventory in Biltmore right now and while there are some units that are obviously priced better than others there is no clear "if I don't write an offer on this today it will disappear" deal. That's ok.  Let just take a peek at all of them, you pick your favorite and we'll see where it goes.  Don't have the time?  That's ok too.  I can run over, shoot video and you can determine the unit you want to take a stab at from the comfort of your own chair.  It's all part of my drive to make buying in Bay Colony really easy!

For more information about Biltmore at Bay Colony, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!