Naples Real Estate Inventory Update: Naples real estate inventories should be high now. A 13% drop in new listings compared to 2016 could raise prices in some Naples neighborhoods. See where!
Showing posts with label Olde Naples. Show all posts
Showing posts with label Olde Naples. Show all posts
Wednesday, November 1, 2017
Saturday, September 21, 2013
Naples Luxury Neighborhood Snapshot Report
Hello Naples Friends,
The John R. Wood neighborhood
snapshot report was just released this week. I'll report on the
locations where I work and follow most:Naples neighborhoods with a shortage of supply at this time:
Aqualane Shores:
30 Aqualane Shores homes sold during the past year. 19 are currently on the market = 7.6 months of inventory
Bay Colony:
2 Bay Colony homes on the market with 3 sold during the past year = 8 months of inventory
42 Bay Colony condos sold during the past 12 months with 27 remaining = 7.71 months of inventory
Grey Oaks:
59 Grey Oaks homes sold during the past year. 36 are currently on the market = 7.33 months of inventory.
16 Grey Oaks condos sold during the past year. 3 are currently on the market = 2.25 months of inventory.
Mediterra:
26 Mediterra condos sold during the past year. 17 are currently on the market = 7.87 months of inventory.
Olde Naples:
84 Olde Naples homes sold during the past year. 61 are currently on the market = 8.71 months of inventory.
141 Olde Naples condos sold during the past year. 71 are currently on the market = 6.04 months of inventory.
Park Shore/Moorings/Seagate/Coquina Sands Waterfront:
354 Park Shore/Moorings/Seagate/Coquina Sands Waterfront condos sold during the past year. 151 are on the market. = 5.11 months of inventory.
Park Shore/Moorings/Seagate/Coquina Sands Non Waterfront:
118 Park Shore/Moorings/Seagate/Coquina Sands Non Waterfront homes sold during the past year. 60 are on the market. = 6.1 months of inventory.
107 Park Shore/Moorings/Seagate/Coquina Sands Non Waterfront condos sold during the past year. 61 are on the market. = 6.84 months of inventory.
Pelican Bay:
47 Pelican Bay homes sold during the past year. 20 are currently on the market = 5.11 months of inventory.
289 Pelican Bay condos sold during the past year. 95 are currently on the market = 3.95 months of inventory.
Pelican Marsh:
56 Pelican Marsh homes sold during the past year. 24 are currently on the market = 5.15 months of inventory.
70 Pelican Marsh condos sold during the past year. 25 are currently on the market = 4.28 months of inventory.
Pine Ridge:
35 Pine Ridge homes sold during the past year. 23 are currently on the market = 7.9 months of inventory.
14 Pine Ridge condos sold during the past year. 2 are currently on the market = 1.78 months of inventory.
Quail West:
39 Quail West homes sold during the past year. 29 are currently on the market = 8.92 months of inventory.
Royal Harbor:
37 Royal Harbor homes sold during the past year. 21 are currently on the market = 6.81 months of inventory.
Tiburon:
31 Tiburon condos sold during the past year. 20 are currently on the market = 7.75 months of inventory.
Naples luxury locations showing stability:
Port Royal:
40 Port Royal homes sold during the past year. 41 are on the market = stable
Park Shore/Moorings/Seagate/Coquina Sands Waterfront:
13 Park Shore/Moorings/Seagate/Coquina Sands Waterfront homes sold during the past year. 13 are currently on the market = stable
Areas of opportunity for buyers to still get a deal if you are a buyer:
Collier's Reserve:
10 Collier's Reserve homes sold during the past year. 15 are currently on the market. There is at least one deal of the universe I know of in here. Call me for details. = 18 months of inventory.
Mediterra:
44 Mediterra homes sold during the past year. 48 are currently on the market. Pricing has gone up here but there's still some terrific inventory. = 13 months of inventory.
Tiburon:
5 Tiburon homes have sold during the past year. 18 are currently on the market...wow! 43 months of inventory...not a typo.
You can expect to see more inventory hitting the market everyday between now and say Thanksgiving it will lighten a bit and the increase again after the holiday.
If you're considering a Naples purchase: Call me or email me asap. Let's get your strategy together as there is no time to waste. Many of you have already scheduled your time on my calendar. Please award me the opportunity of assisting you by making arrangements in advance. I'm SO looking forward to helping you get your best deal!
If your'e considering selling your Naples property: Call me or email asap. We will want your marketing in place for season in order to get you your target price and give you the highest potential of an acceptable contract! I'm excited to get the ball rolling!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
Thursday, February 7, 2013
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:
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!
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:
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...
- Naples sales were up 3% this January compared to last.
- Naples sales are up 38% for the first few days in February compared to last year.
- Naples property sales listed at one million and above are up 6% compared to last year.
- Average list price to sales price ratio for Naples property increased 1.5% to 94.9%
- Market time dropped 5%
- Average list price increased 17%
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!
Friday, November 30, 2012
Good Day Naples Friends, Tis the season! Naples real estate
buying traffic is strong, activity is high and lots of exciting
new Naples real estate happenings are occurring...
In fact, I just wrote a magnificent Naples real estate post about how the Naples seller behavior is changing only to realize for the sake of some of my deals on the table, I better not post due to the fact that I would not be writing in the best interest of my current clients. Many times when my posts slow it's because I'm very involved in deals I simply can't write about for the sake of confidentiality.
I fear the content I can't share will not give you what you need to be in the know and have the edge you deserve for being one of my Naples real estate subscribers. So here, I will speak in generalities and if you would like details, I'm a phone call or email away.
1. Sellers are getting very confident with some increased pricing but more importantly very tight negotiations. This is different than years past. The biggest news is that behavior is inconsistent which is going to cause a ripple of drama. Buyers not ready for hard negotiations may want to react accordingly and find themselves suffering in the long run because of it. Call me for details on this.
2. Some sellers need to be strategic about buying and selling here in Naples. Some sellers are taking their properties off the market because they can't find another property to replace what they have when they sell. Until recently it was easy for Naples sellers to put their home or condo on the market, wait for a sale and then have a nice selection of Naples properties to choose from when they get an acceptable offer. I just lost a deal due to the fact the seller couldn't find another place to go and didn't want to move twice. We might get it together in the near future but this was a downer for my buyer. We might be going toward a market where some of our more affluent Naples sellers need to go out and find what they want first, purchase and then put their place on the market. It's hard to believe I'm saying that out loud in this very turmultuous economic state this country is in but it is true depending on where you want to go and the location of your current property. Many areas of Bay Colonyis a place where you could do this pretty easily provided you are priced appropriately when you sell. It's very wise to have a Naples real estate expert help you do this.
3. If you like to shop for Naples deals there are some good negotiation opportunities for locations like:
Collier's Reserve, Port Royal, Grey Oaks and Quail West.
All of these locations are showing some oversupply with slightly under
or over 1.5 years of inventory. Keep in mind each negotiation may go
differently so if it is at all possible (which it should be since your
main motivation here is the "deal")you will want to go in and choose 3
properties and know the first one or two may not go your way but I do
think some sellers here should show you some flexibility still. That is
probably not going to be the case in areas like Park Shore, Aqualane Shores and Olde Naples since inventories are light and traffic is heavy.
4. Intelligent agents are putting deals together and/or keeping deals together that may not have made it otherwise. Because the tables are turning a bit it takes a different and sometimes very aggressive approach to getting the deal done. Smart Naples agents know how to find solutions to problems whether it's property condition, beginning negotiation stale mates and other tricky aspects of the contract to close timeline. I have also seen a few examples where inexperience or lack of business acumen has obliterated a deal to pieces...very sad.
It was said the other day during a John R. Wood board of directors meeting (I currently hold a position there thanks to having the honor of working with some fantastic clients) that some sellers will think they can get their deal done without an agent now that the market is turning. If getting the deal done is your goal, that's fine...but if getting the deal done with the
1. highest and best price
2. timeline you prefer
3. and without additional exposure to expensive legal issues
is the goal, having an excellent Naples Realtorwith
their vast network of experienced professionals behind them may be a
small price to pay in the long run...especially if you're talking about
some of the bigger ticket items around town.
Friends, these contracts look very simple and they are for someone who assist people with them everyday. I have found the most successful buyers and sellers hire the best Naples real estate professionals to handle their real estate business because:
1. They have more time to do what they really enjoy doing.
2. They recognize the value in someone having the experience they do not in handling some of the local behavioral aspects that arise during the marketing and negotiating of their property.
3. They understand the vast network of professionals that stand behind their Naples Realtor to get the job done in the best most convenient way.
4. They know their Realtor and network will keep them performing within the timeline of their contract.
5. They can get the extra assistance they need when things get emotional...let's talk about that one.
The most legal exposure occurs when times are most emotional. When is real estate emotional? When there is a clear upper hand and a clear underdog ie. when it is a Buyers market or a Seller's market.
YOU SCREWED ME!
Doesn't naturally occur for the most part in a happy, amicable, stable, even market.
It can be tough for sellers and/or buyers to not want to inch a little closer towards the edge when they feel like they have a solid edge to negotiate and it can be easy to completely and unknowingly go over that edge when performing to a contract. What I mean by that is that sometimes when the intentions are completely honorable you can cross a legal line that can get you in a huge pile of crud. It can cause a horrible legal stink that ultimately the guilty party would've never caused to happen had they known what their legal responsibility was. Because of our experience, we can say....ehhh that may not be such a great idea, here's why... This is one of those points I'd love to follow up with an example but I can't. Call me for details on this one.
Ok, that is all I have time for today. Buyers, put your helmets on! Give me a call, let's make a date and let's do this!!!
Sellers, give me a shout! Let's make a plan and let's get rolling!
PS~ Days til Winter = 20!!!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
buying traffic is strong, activity is high and lots of exciting
new Naples real estate happenings are occurring...In fact, I just wrote a magnificent Naples real estate post about how the Naples seller behavior is changing only to realize for the sake of some of my deals on the table, I better not post due to the fact that I would not be writing in the best interest of my current clients. Many times when my posts slow it's because I'm very involved in deals I simply can't write about for the sake of confidentiality.
I fear the content I can't share will not give you what you need to be in the know and have the edge you deserve for being one of my Naples real estate subscribers. So here, I will speak in generalities and if you would like details, I'm a phone call or email away.
1. Sellers are getting very confident with some increased pricing but more importantly very tight negotiations. This is different than years past. The biggest news is that behavior is inconsistent which is going to cause a ripple of drama. Buyers not ready for hard negotiations may want to react accordingly and find themselves suffering in the long run because of it. Call me for details on this.
2. Some sellers need to be strategic about buying and selling here in Naples. Some sellers are taking their properties off the market because they can't find another property to replace what they have when they sell. Until recently it was easy for Naples sellers to put their home or condo on the market, wait for a sale and then have a nice selection of Naples properties to choose from when they get an acceptable offer. I just lost a deal due to the fact the seller couldn't find another place to go and didn't want to move twice. We might get it together in the near future but this was a downer for my buyer. We might be going toward a market where some of our more affluent Naples sellers need to go out and find what they want first, purchase and then put their place on the market. It's hard to believe I'm saying that out loud in this very turmultuous economic state this country is in but it is true depending on where you want to go and the location of your current property. Many areas of Bay Colony
is a place where you could do this pretty easily provided you are priced appropriately when you sell. It's very wise to have a Naples real estate expert help you do this.3. If you like to shop for Naples deals there are some good negotiation opportunities for locations like:
Collier's Reserve
, Port Royal, Grey Oaks and Quail West.
All of these locations are showing some oversupply with slightly under
or over 1.5 years of inventory. Keep in mind each negotiation may go
differently so if it is at all possible (which it should be since your
main motivation here is the "deal")you will want to go in and choose 3
properties and know the first one or two may not go your way but I do
think some sellers here should show you some flexibility still. That is
probably not going to be the case in areas like Park Shore, Aqualane Shores and Olde Naples since inventories are light and traffic is heavy. 4. Intelligent agents are putting deals together and/or keeping deals together that may not have made it otherwise. Because the tables are turning a bit it takes a different and sometimes very aggressive approach to getting the deal done. Smart Naples agents know how to find solutions to problems whether it's property condition, beginning negotiation stale mates and other tricky aspects of the contract to close timeline. I have also seen a few examples where inexperience or lack of business acumen has obliterated a deal to pieces...very sad.
It was said the other day during a John R. Wood board of directors meeting (I currently hold a position there thanks to having the honor of working with some fantastic clients) that some sellers will think they can get their deal done without an agent now that the market is turning. If getting the deal done is your goal, that's fine...but if getting the deal done with the
1. highest and best price
2. timeline you prefer
3. and without additional exposure to expensive legal issues
is the goal, having an excellent Naples Realtor
with
their vast network of experienced professionals behind them may be a
small price to pay in the long run...especially if you're talking about
some of the bigger ticket items around town. Friends, these contracts look very simple and they are for someone who assist people with them everyday. I have found the most successful buyers and sellers hire the best Naples real estate professionals to handle their real estate business because:
1. They have more time to do what they really enjoy doing.
2. They recognize the value in someone having the experience they do not in handling some of the local behavioral aspects that arise during the marketing and negotiating of their property.
3. They understand the vast network of professionals that stand behind their Naples Realtor to get the job done in the best most convenient way.
4. They know their Realtor and network will keep them performing within the timeline of their contract.
5. They can get the extra assistance they need when things get emotional...let's talk about that one.
The most legal exposure occurs when times are most emotional. When is real estate emotional? When there is a clear upper hand and a clear underdog ie. when it is a Buyers market or a Seller's market.
YOU SCREWED ME!
Doesn't naturally occur for the most part in a happy, amicable, stable, even market.
It can be tough for sellers and/or buyers to not want to inch a little closer towards the edge when they feel like they have a solid edge to negotiate and it can be easy to completely and unknowingly go over that edge when performing to a contract. What I mean by that is that sometimes when the intentions are completely honorable you can cross a legal line that can get you in a huge pile of crud. It can cause a horrible legal stink that ultimately the guilty party would've never caused to happen had they known what their legal responsibility was. Because of our experience, we can say....ehhh that may not be such a great idea, here's why... This is one of those points I'd love to follow up with an example but I can't. Call me for details on this one.
Ok, that is all I have time for today. Buyers, put your helmets on! Give me a call, let's make a date and let's do this!!!
Sellers, give me a shout! Let's make a plan and let's get rolling!
PS~ Days til Winter = 20!!!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
Thursday, November 8, 2012
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!
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!
Tuesday, May 8, 2012
Olde Naples Market Update 5/8/12
Olde Naples is in an under-supplied inventory situation but I am not seeing a typical trend here! With 183 closed sales during the past 12 months and 33 Olde Naples listings currently under contract, you would think prices and negotiations would be changing more in favor for the seller....but that's not what numbers are showing...
Olde Naples sales are up 17% compared to the year before and inventories have since not only stabilized but are tilted slightly towards an under-supply which means negotiations should be tightening and pricing should start going up but look at these results:
During the past 12 months:
70 Olde Naples Homes have sold (20% increase over 12 months prior)
113 Olde Naples multi-family properties have sold (14% increase over 12 months prior)
Avg. list $/sq. ft. multi-family SOLD= $349 (down 4% from 12 months prior)
Avg. sold $/sq. ft. multi-family= $318 (down 2% from 12 months prior)
Avg. list $ to sales $ ratio for Olde Naples multi-family = 91% up 1%
Avg. market time for Olde Naples multi-family SOLD is now 308 days
Avg. list $/sq. ft. home SOLD= $628 (down 10% from 12 months prior)
Avg. sold $/sq. ft. home= $554 (down 23% from 12 months prior)
Avg. list/sales $ ratio for Olde Naples Homes = 88% (down 8% from 12 months prior)
Avg. market time for Olde Naples Homes SOLD is now 223 days (down 43%)
12 months prior:
58 Olde Naples Homes sold
99 Olde Naples multi-family sold
Avg. list $/sq. ft. multi-family= $362
Avg. sold $/sq. ft. multi-family= $327
Avg. list $ to sales $ ratio for Olde Naples multi-family = 90%
Avg. market time for Olde Naples multi-family 292 days
Average list price per square foot home SOLD= $696
Average sold price per square foot home= $684
Average list price to sales price ratio for Olde Naples Homes= 95%
Average market time for Olde Naples Home was 319 days
If you made it through the numbers you can see there's been quite a bit of movement in Olde Naples during the past 24 months and even though product is selling there are still several signs that show now is an excellent time to be purchasing. The reason why is because there's proof of plenty of movement and not a whole lot of pricing increases or negotiations tightening so you can easily see proof of value without having to "pay for it" if you will.
The summer is a perfect time to try to negotiate an Olde Naples deal because of these 3 reasons:
1. Many sellers believe they may have missed their best shot to sell since many people who come down for season have since gone back to where they came from.
2. The odds of competing with another buyer on an offer (while still possible) may not be as probable which means you may still have a shot at a good negotiation.
3. If you do it between now and October, you will probably capture the seller's attention since they may not be expecting you and the opportunity to not hold the property through the summer months might be an attractive point to the seller convincing them to negotiate with their best intentions now.
If you've made a conscious decision to purchase during the off season buyer beware. You aren't the only one here purchasing right now and to come in with no strategy with the concept that you're the only one here doing what you're doing may end up biting you in the tail.
You want an excellent negotiation strategy even now if you're purchasing in Olde Naples or for that matter, anywhere in Naples. You have some excellent points to discuss and I've found if you present those points in a tasteful manner, you can often come to a successful negotiation.
Contact me when you have your travel plans arranges so I can assist you with gaining access for viewing and allow you the most optimum opportunity for a successful negotiation!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
PS~Happy Mother's Day to all of my Mommy Naples Real Estate blog readers! You have a special gift, and beautiful job. Bless you.
Olde Naples sales are up 17% compared to the year before and inventories have since not only stabilized but are tilted slightly towards an under-supply which means negotiations should be tightening and pricing should start going up but look at these results:
During the past 12 months:
70 Olde Naples Homes have sold (20% increase over 12 months prior)
113 Olde Naples multi-family properties have sold (14% increase over 12 months prior)
Avg. list $/sq. ft. multi-family SOLD= $349 (down 4% from 12 months prior)
Avg. sold $/sq. ft. multi-family= $318 (down 2% from 12 months prior)
Avg. list $ to sales $ ratio for Olde Naples multi-family = 91% up 1%
Avg. market time for Olde Naples multi-family SOLD is now 308 days
Avg. list $/sq. ft. home SOLD= $628 (down 10% from 12 months prior)
Avg. sold $/sq. ft. home= $554 (down 23% from 12 months prior)
Avg. list/sales $ ratio for Olde Naples Homes = 88% (down 8% from 12 months prior)
Avg. market time for Olde Naples Homes SOLD is now 223 days (down 43%)
12 months prior:
58 Olde Naples Homes sold
99 Olde Naples multi-family sold
Avg. list $/sq. ft. multi-family= $362
Avg. sold $/sq. ft. multi-family= $327
Avg. list $ to sales $ ratio for Olde Naples multi-family = 90%
Avg. market time for Olde Naples multi-family 292 days
Average list price per square foot home SOLD= $696
Average sold price per square foot home= $684
Average list price to sales price ratio for Olde Naples Homes= 95%
Average market time for Olde Naples Home was 319 days
If you made it through the numbers you can see there's been quite a bit of movement in Olde Naples during the past 24 months and even though product is selling there are still several signs that show now is an excellent time to be purchasing. The reason why is because there's proof of plenty of movement and not a whole lot of pricing increases or negotiations tightening so you can easily see proof of value without having to "pay for it" if you will.
The summer is a perfect time to try to negotiate an Olde Naples deal because of these 3 reasons:
1. Many sellers believe they may have missed their best shot to sell since many people who come down for season have since gone back to where they came from.
2. The odds of competing with another buyer on an offer (while still possible) may not be as probable which means you may still have a shot at a good negotiation.
3. If you do it between now and October, you will probably capture the seller's attention since they may not be expecting you and the opportunity to not hold the property through the summer months might be an attractive point to the seller convincing them to negotiate with their best intentions now.
If you've made a conscious decision to purchase during the off season buyer beware. You aren't the only one here purchasing right now and to come in with no strategy with the concept that you're the only one here doing what you're doing may end up biting you in the tail.
You want an excellent negotiation strategy even now if you're purchasing in Olde Naples or for that matter, anywhere in Naples. You have some excellent points to discuss and I've found if you present those points in a tasteful manner, you can often come to a successful negotiation.
Contact me when you have your travel plans arranges so I can assist you with gaining access for viewing and allow you the most optimum opportunity for a successful negotiation!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
PS~Happy Mother's Day to all of my Mommy Naples Real Estate blog readers! You have a special gift, and beautiful job. Bless you.
Tuesday, August 24, 2010
Follow Naples Neighborhoods On Twitter
For those of you familiar with Twitter you can follow Naples Florida information regarding some of your favorite Naples neighborhood news like price reductions, new listings and market statistics. Or you can just follow me and there's no telling what I'll write there.
@PelicanMarsh
@Bay_Colony
@Pelican_Bay
@ParkShore
@OldeNaples
@NaplesSmartGirl
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl
@PelicanMarsh
@Bay_Colony
@Pelican_Bay
@ParkShore
@OldeNaples
@NaplesSmartGirl
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl
Wednesday, March 10, 2010
Thursday, February 4, 2010
225 N. Lake Drive
Crackle Cottage
225 N. Lake Drive is a FABULOUS Olde Naples home listed at $1,795,000
Contact me for more details!
Best Regards,
Shannon Lefevre, PA
239-595-6223
Thursday, April 23, 2009
Napels Florida Real Estate Update
When chatter about the Naples Florida's real estate market bottoming out began last fall my first thought was relief! Hey, it's been a challenge the last few years and if you know anything about our area, you'll know that our market was one of the first to crater before all of the others began to slow largely due to the wild appreciation we saw the few years before.
Naples is a crazy real estate market. I've had trouble watching the appreciation race to the top and sat in awe as I watched prices fall to amazing lows. Following the trends here is certainly not for the weak at heart or for those who think they can pop in every few months and really understand it. A pivotal point for me happened one day about a year or so after I moved down when I was leaving my office for an appointment. I noticed a younger couple staring at a map of Collier County on a wall. The lady commented quietly to her husband, "I can't believe there's not one house on this whole map we can afford". Continuing to my car in an effort to be timely, I couldn't help but think about what she said. My husband and I had barely eaaked into Naples back in 2002. That easily could've been us had we not been able to purchase when we did. Not too long after, the biggest real estate topic was the shortage of affordable housing. Not too long after that our market slowed and front page "affordable housing" news flashes on the Naples Daily News website were replaced with captions like the Naples real estate market is in the toilet.
Even more interesting than the numbers are the behaviors that arise during these crazy market shifts. One of the aspects about real estate I enjoy is the actual job is never the same. Everything trends! This includes property type performance and attitudes among buyers and sellers. While attending an economic presentation this Spring by Hank Fishkind and Associates and came across a graph I think gives a very interesting and informative perspective:
If you consider the behaviors of buyers, sellers and agents in a market, they can tell you a TON about the current real estate market trend. When I came to town back in 2002 we were just coming off a slump mostly created by the effects of 9/11. The attitude of the agents and property owners here was very much in the Despondency phase shown in the graph. Although the 2003 season was unlike anything I had personally seen, the market as a whole fell somewhat flat that year but it quickly changed shortly after. Next was Depression to Hope then Relief...then Optimism hit. By the time Excitement and Thrill came, all hell broke lose and I found my hardest job in real estate was trying to explain to people that they were overpaying for property. They didn't care, they just wanted to get the deal done.
According to the graph above, Fishkind and Associates thinks the Naples market is in the Capitulation/Despondency phase. Based on everything I'm seeing and hearing, I completely agree when it comes to the luxury market (properties listed for over 1 million and luxury locations like Olde Naples, Pelican Bay and Port Royal). But when it comes to the lowest end market (properties listed for $400,000 and less) it has taken another serious turn towards the positive.
For example, over 80% of the product selling right now is in the $400,000 and less price range. Chatter around town is of well priced properties in those price ranges selling within hours of hitting the market and seeing multiple offers. This isn't on just one deal...it's happening repetitively and often. What's more curious is much of this contract activity is happening on a cash basis. Investors are getting back in the game.
One point has remained the same during my 13 years in the business. It is a fact anytime there's a new real estate trend, lowest priced properties start selling first, then traffic increases to medium priced properties and lastly the most expensive properties begin to move. At the end of a real estate trend, lowest priced properties are dead, medium priced property activity is dying fast and highest priced properties perform best.
Inventories are very high right now in areas like Pelican Bay, Park Shore, Bay Colony, Olde Naples and Port Royal and although traffic isn't at a dead stop it's very light. There are also some AMAZING prices out there.
What's next? I have a suspicion that those folks at Fishkind and Associates know what they're talking about. Based on their findings and what I'm seeing and hearing everyday on the street, I'd have to say I'm personally at the Hope stage. There's too many signs pointing to new life.
This means:
If you are a buyer looking at property under $500,000 and you want a deal: You need to not move swiftly. Deals are out there but you are not alone. Cash is king but you are not the only cash buyer so don't expect to use that as your only advantage if competing. Attempting to negotiate heavily off best priced properties in the best locations will help you lose your deal. I wouldn't encourage you to muddy your offer with difficult terms and I would focus more on the property than trendy keywords like short sale and foreclosure. There are still alot of end users out there willing to sell for less. This will take a great deal of hassle out of your mission.
If you are a buyer looking at property between $500,000 and $1,000,000 and you want a deal: You don't have to move as fast but be diligent. This price range is next to heat up. Your best negotiation stance is now. If I were you, I wouldn't wait til next season. Cash is king but you are not alone. You may have a better shot at negotiating on properties in this price range as traffic is not as heavy.
If you are a buyer looking at property between $1,000,000 and $3,000,000 and you want a deal: There has been alot of traffic from buyers who are making low offers with the idea that the market is going to come down even more. Many sellers are not interested in selling at huge unfounded discounts although a small percentage will. If you are interested in purchasing at current market value, now is your time to get in the game.
If you are a buyer looking at property between $3,000,000 and above and you want a deal: You are in a great negotiating spot due to the fact that there is probably more time to go before this market heats up again. Keep in mind if you are looking for the best deal, you are looking for the seller who wants out now compared to those who have no urgency in selling. There have been some tremendous negotiations in areas like Port Royal and inventories are high. Now is the time!
Naples is a crazy real estate market. I've had trouble watching the appreciation race to the top and sat in awe as I watched prices fall to amazing lows. Following the trends here is certainly not for the weak at heart or for those who think they can pop in every few months and really understand it. A pivotal point for me happened one day about a year or so after I moved down when I was leaving my office for an appointment. I noticed a younger couple staring at a map of Collier County on a wall. The lady commented quietly to her husband, "I can't believe there's not one house on this whole map we can afford". Continuing to my car in an effort to be timely, I couldn't help but think about what she said. My husband and I had barely eaaked into Naples back in 2002. That easily could've been us had we not been able to purchase when we did. Not too long after, the biggest real estate topic was the shortage of affordable housing. Not too long after that our market slowed and front page "affordable housing" news flashes on the Naples Daily News website were replaced with captions like the Naples real estate market is in the toilet.
Even more interesting than the numbers are the behaviors that arise during these crazy market shifts. One of the aspects about real estate I enjoy is the actual job is never the same. Everything trends! This includes property type performance and attitudes among buyers and sellers. While attending an economic presentation this Spring by Hank Fishkind and Associates and came across a graph I think gives a very interesting and informative perspective:
If you consider the behaviors of buyers, sellers and agents in a market, they can tell you a TON about the current real estate market trend. When I came to town back in 2002 we were just coming off a slump mostly created by the effects of 9/11. The attitude of the agents and property owners here was very much in the Despondency phase shown in the graph. Although the 2003 season was unlike anything I had personally seen, the market as a whole fell somewhat flat that year but it quickly changed shortly after. Next was Depression to Hope then Relief...then Optimism hit. By the time Excitement and Thrill came, all hell broke lose and I found my hardest job in real estate was trying to explain to people that they were overpaying for property. They didn't care, they just wanted to get the deal done.
According to the graph above, Fishkind and Associates thinks the Naples market is in the Capitulation/Despondency phase. Based on everything I'm seeing and hearing, I completely agree when it comes to the luxury market (properties listed for over 1 million and luxury locations like Olde Naples, Pelican Bay and Port Royal). But when it comes to the lowest end market (properties listed for $400,000 and less) it has taken another serious turn towards the positive.
For example, over 80% of the product selling right now is in the $400,000 and less price range. Chatter around town is of well priced properties in those price ranges selling within hours of hitting the market and seeing multiple offers. This isn't on just one deal...it's happening repetitively and often. What's more curious is much of this contract activity is happening on a cash basis. Investors are getting back in the game.
One point has remained the same during my 13 years in the business. It is a fact anytime there's a new real estate trend, lowest priced properties start selling first, then traffic increases to medium priced properties and lastly the most expensive properties begin to move. At the end of a real estate trend, lowest priced properties are dead, medium priced property activity is dying fast and highest priced properties perform best.
Inventories are very high right now in areas like Pelican Bay, Park Shore, Bay Colony, Olde Naples and Port Royal and although traffic isn't at a dead stop it's very light. There are also some AMAZING prices out there.
What's next? I have a suspicion that those folks at Fishkind and Associates know what they're talking about. Based on their findings and what I'm seeing and hearing everyday on the street, I'd have to say I'm personally at the Hope stage. There's too many signs pointing to new life.
This means:
If you are a buyer looking at property under $500,000 and you want a deal: You need to not move swiftly. Deals are out there but you are not alone. Cash is king but you are not the only cash buyer so don't expect to use that as your only advantage if competing. Attempting to negotiate heavily off best priced properties in the best locations will help you lose your deal. I wouldn't encourage you to muddy your offer with difficult terms and I would focus more on the property than trendy keywords like short sale and foreclosure. There are still alot of end users out there willing to sell for less. This will take a great deal of hassle out of your mission.
If you are a buyer looking at property between $500,000 and $1,000,000 and you want a deal: You don't have to move as fast but be diligent. This price range is next to heat up. Your best negotiation stance is now. If I were you, I wouldn't wait til next season. Cash is king but you are not alone. You may have a better shot at negotiating on properties in this price range as traffic is not as heavy.
If you are a buyer looking at property between $1,000,000 and $3,000,000 and you want a deal: There has been alot of traffic from buyers who are making low offers with the idea that the market is going to come down even more. Many sellers are not interested in selling at huge unfounded discounts although a small percentage will. If you are interested in purchasing at current market value, now is your time to get in the game.
If you are a buyer looking at property between $3,000,000 and above and you want a deal: You are in a great negotiating spot due to the fact that there is probably more time to go before this market heats up again. Keep in mind if you are looking for the best deal, you are looking for the seller who wants out now compared to those who have no urgency in selling. There have been some tremendous negotiations in areas like Port Royal and inventories are high. Now is the time!
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