Brighton at Bay Colony Update

Whoa! Brighton at Bay Colony must be singing the same song as the Biltmore at Bay Colony! Here are the current Brighton at Bay Colony stats:

• Brighton at Bay Colony condos for sale = 2
• Brighton at Bay Colony sales during the past 12 months = 8
• Brighton at Bay Colony pending sales = 0

Currently there is only 3 months of inventory on the market in Brighton at Bay Colony and while on paper the price doesn't appear to have gone up there, technically it has if you consider the fact that the two units remaining are on the second floor and priced similarly to those units that have sold on much higher floors.  The average list price to sales price ratio is slightly higher than the Pelican Bay overall average coming in at just a peep over 92%. 

If you're like me, this report feels almost hard to believe.  This news does NOT fall in line with what the world is saying about the state of our economic position and the current state of our over all real estate situation and if you're from Canada, you'll find it even harder to stomach....at least that's what I'm hearing from some of my newest Canada prospects. 

Why are buildings in Bay Colony still selling so well and how can the Bay Colony market be so stable if the world is falling apart around them?  It might have something to do with the fact that Naples was one of the first locations to cool when the whole mortgage meltdown occurred and it's our turn to recover.  It could also be that Naples beachfront isn't expanding.  There's not really an easy place to expand here so you won't find a wide variety of new beachfront property hitting the market like you might see on the east coast of Florida.  We have a limited supply and a nice flow of people who are willing to step up to the plate and purchase here.  If you think about it, it's even a little harder to accomplish the purchase of a fabulous unit in Bay Colony today not just because it's harder to get a mortgage....(most people who are purchasing in Bay Colony are paying cash anyway)....but because many of these units need some sort of updating. Lets face it, not everybody is looking for a project....

If you are planning on purchasing in Brighton at Bay Colony:  Right now be prepared to purchase on the 2nd floor unless something new comes on the market.  You want to work with a smart agent who has some compelling talking points when negotiating and with that, you may not come off the price much...and you're smart or you wouldn't be reading my blog...you can't really blame the seller on that one. If the 2nd floor won't do, be ready to jump on anything else that hits the market (other buyers are on point waiting for new inventory as well) In fact, give me a shout and I'll help you identify other product that may be available.

If you're planning on selling in Brighton at Bay Colony:  Congratulations! You are in a FABULOUS market to sell and if you want the most for your unit, contact me immediately! You'll want to get on the market before the end of the year if at all possible because evidence shows people who wait til mid or late season often have a problem with selling during the same season.  This could be because many Bay Colony buyers do their research earlier before coming down and have already chosen the units they want to review as a consideration.  Call me to get started today!

I hope you enjoyed the Brighton at Bay Colony update.  I'm looking forward to assisting you in your sale or purchase so call me today and let's get going!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

PS~ There's no easier way to click, see, purchase Naples Real Estate!

Brighton At Bay Colony Naples Florida Update

Here's your Brighton at Bay Colony Naples Florida update. Brighton at Bay Colony is one of the most fabulous Bay Colony high-rises but her sales record has had a little trouble during the last couple of years.

There is a whopping 8 units or (4 years of inventory) currently on the market with an 80% list price to sales price ratio for the 2 units that did sell last year.  That's not as great as some of her sister buildings performed this past year but then again, Brighton at Bay Colony didn't break any sales records the year before either with just 2 sales in 2009 as well. 

While some of these just hit the market in preparation for the 2011 selling season, some have been on for a LONG time....in fact there are 2 that have been on and off the market for around the 2 year mark...so what's the story?  What could possibly be going on with Brighton at Bay Colony? 

Don't get too excited there is no deep dark secret...at least as far as I know and while there are some sellers who will hold until the end of time...or until they get their price (trust me, I know) there are others who might be interested in dealing.  History often repeats itself and if you try to strike a 20% off deal, first of all, you're well documented.  Second of all, it doesn't cost you anything to give it a shot!

While we're on the topic of market time, I think it's important to clear up some thought process here.  Many people assume that if the market time is really long, there's either something wrong with the unit or the seller will be more interested in dealing.  Actually, I have found the seller is less interested in dealing because they have the ability to hold and have for quite awhile so they're typically not going to give up miraculously when you come along.  Most of the Brighton at Bay Colony units are in good condition so I doubt there's something super creepy about the integrity of the units. Of course you want to have inspections done regardless of what you purchase...but something to take note on is the Naples Florida buyer prospect base is limited when it comes to purchasing a project.  Projects are properties that need to be remodeled and should be listed at a slight discount while properties that have been recently remodeled can be listed at a bit of a premium.

Bay Colony isn't really that old but she IS starting to show her age and I think the buyer prospect base has been behaving differently for that reason. 

• If you're a Brighton at Bay Colony seller, it's important to price your property correctly if in fact you really want to sell.  You WILL stand out for that reason. 
• If you're a Brighton at Bay Colony buyer, let's see what we can do for you.  I have inside intelligence on a couple of units that I can't post here but I can help you determine the best option for you.
  

  Brighton at Bay Colony  is one of my most favorite Bay Colony high-rises so don''t let the sales record deter you.  She's still something truly special and now might be the time to negotiate a SUPER deal.  We just need to get some action going on in there! So, let's see what we can do about some negotiating!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!