Naples Real Estate Update 11.8.12

Good Day My Naples Friends!  The election is over! The President is still the President and you can now get high legally in WA and CO...what a bizarre coincidence! The Naples real estate market shows signs of a fierce premature heat up but buyers might have a new edge in negotiations...


Between October 1st and November 6th:

There were 627 sales in the Naples area last year with 48 of those sales listed at $1,000,000+.  The highest priced property sold was listed at $6,950,000. 

This year a total of 735 sales in the Naples area with 45 sales priced at $1,000,000+. The highest priced property coming in at $6,200,000.

That's a 17% increase overall BUT a 6% decrease in Naples luxury real estate sales.

I personally was involved in the negotiation of 8 offers this past week.  Offers I negotiated were in locations like, Park Shore, Moorings, Olde Naples and Pelican Bay.  The overall tone amongst the listing agents (including myself) was extremely confident. On the most expensive condo (priced between 6 and 7 million) the seller and/or seller's agent was too confident and they ended up losing the deal which is a crying shame considering that property has been on the market for a million years (I may have stretched the market time a little bit here). 

What that means for our future Naples real estate market?  Had the election ended differently, I believe that would've have boosted momentum and it would've been extremely challenging maybe a little bit impossible to have a solid negotiating stance as a Naples luxury buyer.  The day of the first debate my web traffic for Naples real estate increased approximately 35% over the year before and stayed that way almost every day (Hurricane Sandy dropped for 2 days ). The day of the election my Naples real estate page views dropped 35% and increased only 9% from there yesterday.  More importantly, people were looking for more luxurious locations than what is being viewed today.

It is still too early to tell what specifically will take place this Naples real estate season so please don't think you have all this extra time to make a decision.  As many of you tenured Naples real estate enthusiasts know, the market can change on a dime and travels precisely at the speed of talk.  I'll give you an example.

I asked a top Naples agent yesterday about her traffic experience.  She replied, "I had 0 showings today".  I said, "what about yesterday"...if memory serves she said, "4".  I replied, "the day before that"?..."3".  Does that mean something?  Maybe not by itself but that's how I collect data about the market...ie...my ear to the ground if you will.  She was just one agent I spoke with...chatter with other agents, buyers, sellers, past clients, store and restaurant owners and employees...this is how we keep abreast of the current purchasing and selling behavior which is what makes a market turn my friends. 

Another example:  I dined at Tommy Bahama's last night...walked in (early 5:30) sat down right away...and while there was a nice gathering of people you could still get a table closer to 7:00 without wait.  Was it because it was chilly and breezy or because many people who are already here (up from last year) were bummed out?  Probably a combination of both...I walked into Island Company afterwards and asked a sales lady about her traffic experience..."crazy this past weekend...weird quiet yesterday and sporadic today"...again weather change, or tears in my champagne?  Probably a combination of both.

My gut tells me this lull may be short lived.  Although we may have a percentage of people drop out of the Naples purchase market because of the election, I do believe many will still buy this year and although it's a little quiet right this very minute, I don't believe it will last for long so NOW is the time you may want to do something. We have a new talking point to discuss when negotiating today but it may not be here long ESPECIALLY if it continues to dump snow and ice on our Northern friends.  Uncertainty is our friend in negotiations when buying so consider getting here soon and being prepared to pull the trigger. 

If you're considering selling your Naples real estate...you have a challenge.  Here's what I found in my experience last week.  Agents who have had a great deal of success over the years stayed on point through negotiations and while more confident than years past were still all about making the deal happen.  Agents who did not have a great level of success or long history did not fair so well.  This is why you want to go with an experienced proven professional when you list your Naples property.  In tumultuous times as these, a proven professional can assist you through important decision making and potentially save you $1,000's of dollars and help you accomplish your goals over those who do not have the ability to assist you in making wise decisions. 

I am ready to assist you when you are ready to go so please contact me in advance so I can help you personally.

Stay safe, Stay warm!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Cocobay at Pelican Bay Update

Cocobay at Pelican Bay Naples Florida is STABLE! Here are the current Cocobay at Pelican Bay real estate statistics:

• 2 Cocobay at Pelican Bay homes are on the market.
• 1 Cocobay at Pelican Bay home is under contract.
• 1 Cocobay at Pelican Bay home sale has occurred during the past 12 months.

With only 33 homes in Cocobay at Pelican Bay there hasn't been a year where there was ever a plethra of activity in this Pelican Bay community with 2010-2011 following sleepily along the same as past history.  You will only find a few sales during any given year with 2006 being the record breaker at 4 sales.  The good news for Cocobay is that she is statistically in an under-supply of inventory scenario and values seem to be doing well.  Cocobay at Pelican Bay is commanding slightly higher list price to sales price ratios than Pelican Bay as an average rolling in at almost 95%. 

If you're a Cocobay at Pelican Bay buyer:  If you demand the latest and greatest interiors you may be looking for a project.  While some of these homes have had some remodeling, I'm not sure anything is exactly as you would want so you might have to hone your phone dialing skills or roll up your sleeves for a bit of a project. That is if you can get negotiated out on your deal to start.   Current market time has a slight uptick suggesting that maybe what's left is not necessarily listed at current market value.  You'll want to make sure you cut the deal you're after before calling the contractor. Ironically not only can I assist you with a super negotiating plan but I can also supply you with the names and phone numbers of fabulous contractors who can finish a project on time and within budget who serve the Naples area.  Call me and let's get started today!

If you're thinking about selling your Cocobay home:  If your interiors are completely up to date...yes that means bathrooms too, you could do well this season.  Homes like this across Pelican Bay are in demand and Pelican Bay inventories are shrinking putting you back in the drivers seat.  If you haven't made improvements to your Cocobay at Pelican Bay home, that's ok too...there's just more competition like this on the market right now.  Make sure you have a super marketing plan designed to attract current ready, willing and able buyers paired with an intelligent price point.  With the help of a smart agent, you should be able to net close to what you're asking without the drain and inconvenience of extended market times. Call me today and let's get moving!

I hope you enjoyed the Cocobay at Pelican Bay update.  For more information on Cocobay, Pelican Bay or the Naples real estate market, contact me direct!

PS~ Happy Halloween! I hope all our Naples Florida fans have a fun and safe holiday!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Carlton Place at Pelican Bay Update

Carlton Place at Pelican Bay has experienced a fabulous year...Here are the Carlton Place at Pelican Bay real estate statistics:

• Carlton Place at Pelican Bay Listings = 0
• Carlton Place at Pelican Bay Pending Properties = 0
• Carlton Place at Pelican Bay Sales during the past 12 months = 4
  

CONGRATULATIONS Carlton Place for selling out of all available product!

If you're considering a Carlton Place at Pelican Bay purchase:  Give me a shout and let me see if I know somebody who would consider selling at this time or you might consider an alternative Pelican Bay community like Cocobay at Pelican Bay.

If you're considering selling your Carlton Place at Pelican Bay home:  Give me a shout.  Average sales price per square foot in Carlton place is 401/square foot but depending on what you have to offer, yours might be worth a whole lot more.  Call me for all the reasons why and let's get started today!

The real story at Carlton Place at Pelican Bay is about the market time.  The average market time for the units that sold during the past 12 months in Carlton Place at Pelican Bay is 364.5 days....a YEAR on the market does not usually signify a hot market don't you agree?  It's as if they all sat and then they all sold.  BUT as you can see from the results....it could be proof that what my colleagues and I have been chirping about as far as inventory disappearing is true.  I believe I showed each of the units that sold last year at least once or twice and all were special in their own way.  In fact, I nearly sold one of the units to a couple who ended up purchasing in Pinecrest at Pelican Bay instead.  During that process one of the past owners at Carlton Place even had the courage to present an offer to my buyer because of the positive feedback he had received.  It's a technique that could be considered "aggressive" or "out of the box" but it is a super way to encourage a positive engagement with a potential buyer.  Had the home fit the needs of my client it probably would've worked out for them.  Ultimately my client decided he needed to take a stab at a Pelican Bay single family home instead of a Pelican Bay villa which brings to another conversation I recently had with a potential new customer I've been talking to lately. 

Her question she asked recently was whether or not Pelican Bay mid-rise condos were in high-demand and if I show them on a regular basis.  I personally don't show a great deal of Pelican Bay mid-rise condos because not too many of the buyers I've worked with ask for them specifically compared to other types of Pelican Bay properties.  Sometimes buyers aren't 100% sure what they want and have a hard time envisioning what they'll be doing with their time here and who they'll be doing it with.  While some of my clients know they'll be entertaining friends and family a great deal...others are still very much unsure about the details that concern what type of living arrangements will best fit their needs. That's why it's common to show one client a good cross section of several different types of properties so they can get in and, "see, touch and feel" their way into an idea of what they think will work for them.  I can uncover much about their uncertainty through a series of questions I ask but sometimes it actually takes getting inside to actually, "get it".  I remember once talking with a couple who were considering putting their Pelican Bay condo on the market after owning it for a relatively short period of time...if memory serves under 2 years.  She had made a comment about how she had wished her Realtor had been a little more insightful about her needs and how maybe she had made a mistake with going with somebody who may have just been after a deal instead of taking the extra time to make sure they would be happy for their duration in Naples. 

Many people trade up and down several times within Pelican Bay as their needs and/or wants change not necessarily because they had a crummy real estate agent.  Of course this happens more frequently in an appreciating market than it does in a flat or depreciating market for sure.  You'll find when we work together,  I will actually try to get inside your head and figure out what you want even if you don't even know yet.  I'm pretty good at that and that's just part of the reason why I give GREAT RESULTS!

I hope you enjoyed my Carlton Place at Pelican Bay update.  For more information regarding Pelican Bay or any Naples area, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl