Pelican Bay Naples Florida Update

Hello Naples Florida Fans!

Here's a quick update about Pelican Bay!

According to MLS the inventory in Pelican Bay is LEVEL! Whoo Hoo! This means there's (almost exactly) 12 months of inventory available on the market. While this is good news this report might be a little unfair since I fully suspect the inventory to increase considerably during the next few months in preparation for season but the inventory across the board in Pelican Bay is level now which is something I haven't been able to claim in quite some time.

Actual Pelican Bay real estate statistics are as follows:
309 Active Pelican Bay listings
303 Closed during the past 12 months
13 Pending

Last year 212 Pelican Bay properties had closed by this date.
This year 249 Pelican Bay homes and condos have closed.
That's a 15% increase in sales...AWESOME!

Let's do a breakdown on Pelican Bay product:

Pelican Bay Low Rise Condos:
76 Active
103 Closed during the past 12 months
5 Pending
Pelican Bay low rise condos are under-supplied! There's not even a 9 month supply of Pelican Bay low rise condos available.

If you are a buyer, you are not alone. It is wise to purchase with a professional negotiator to assist you. The average list to sales price ratio is currently 92%. Expect that to tighten if inventories continue to shrink and expect prices to rise. I can assist you with this :).

If you are a seller, CONGRATULATIONS! You stuck it out and it may pay off for you. This is not a time to be greedy though as smart pricing is still the key! Make sure you list your property with a Fabulous Realtor who can assist you with details that can put more money in your pocket and take less time. Call me for details.

Pelican Bay Mid Rise Condos:
28 Active
19 Closed during the past 12 months
4 Pending
Pelican Bay mid rise condos are over-supplied! there's still almost 18 months of Pelican Bay mid rise condos on the market.

If you are a buyer, you still have some good talking points when negotiating. If you don't know what those are, that's why you hire someone awesome, like me. :)

If you are a seller, and you can hang tight, I would. If you want to sell anyway, price is going to be key and condition. If you are best priced and best looking, you can still get it done. If you are even better priced and worst looking you can still get it done but you want to hire someone who knows how to put the buyer for your unit on paper! Call me!

Pelican Bay High Rise Condos:
155 Active
116 Closed during the past 12 months
9 Pending
Pelican Bay high rise condos are still over supplied! (16 months of inventory) This is down substantially compared to past analysis.

If you are a buyer, you still have some good talking points when negotiating and if you will consider doing some redecorating that could work out in your favor...if you are an entity that likes to do this for extra income...there are opportunities for you. Give me a shout and we'll discuss best options.

If you are a seller, price is still key and condition helps ALOT too! Make sure you do the things possible to make your unit stand out and make sure your priced accordingly and you should be able to get the job done. I can help if you choose to go that direction!

Pelican Bay Villas:
24 Active
35 Sold during the past 12 months
4 Pending
Pelican Bay villas are still under-supplied as they have been for some time. With barely 8 months of inventory, pickings are slim.

If you are a buyer, the past 12 month historical statistics show the average list price to sales price is 89% I would expect this number to increase and prices to increase as well...If you want a better shot at getting a great deal, call me.

If you are a seller, CONGRATULATIONS. Your competition is few but you will still want your Pelican Bay villa to look great and be priced well for the highest return. Call me for details!

Pelican Bay Homes:
24 Active
30 Sold during the past 12 months
2 Pending
Pelican Bay homes are under-supplied! There's less than a 10 month supply of inventory here.

If you are a buyer, most of the Pelican Bay homes currently available need remodeling. There are a few that have already been remodeled selling for a premium right now. There are still some negotiating points that can help you get a good price even with the low inventory. Call me for help.

If you are a seller, it may be advantageous for you to do some remodeling before putting your home on the market but BEWARE if you short cut your remodel with poor material choices or unprofessional work, it could hurt your more than help you. If you have the ability to do some tasteful updating you might get a premium for your effort. Call me for details!

That's Pelican Bay Naples Florida in a nutshell! Hope you enjoyed the Pelican Bay update and if you have any questions or want more help, just give me a shout!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Last Week In Pelican Bay 8/30/10-9/3/10

This week in Pelican Bay Naples Florida:
3 properties sold:

1. Pebble Creek at Pelican Bay 7671 Pebble Creek Cir #503 $912,500 (98% of list price) Went under contract in 31 days!
2. St. Kitts at Pelican Bay 6585 Nicholas Blvd. #1504 $630,000 (90% of list price) Closed in 20 months but it was originally listed for $959,000.
3. Willow Brook at Pelican Bay 792 Willowbrook Dr. #403 $325,000 (86% of list price) Took 17 months to close but it was originally listed at $650,000 WOW!

11 price changes occurred in:

• Chateaumere Royale at Pelican Bay
• St. Kitts at Pelican Bay
• 2 in St. Pierre at Pelican Bay
• L'Ambiance at Pelican Bay
• Barrington Club at Pelican Bay
• 2 in Montenero at Pelican Bay
• Strand at Bay Colony
• Glencove at Pelican Bay
• Interlachen at Pelican Bay

6 Pelican Bay properties went under contract this week in these Pelican Bay neighborhoods:

• Village at Pelican Bay
• Montenero at Pelican Bay
• Willow Brook at Pelican Bay
• Vizcaya at Bay Colony
• St. Marissa at Pelican Bay
• St. Kitts at Pelican Bay
• Breakwater at Pelican Bay

10 Pelican Bay properties went on the market this week in these Pelican Bay neighborhoods:

• St. Nicole at Pelican Bay
• Claridge at Pelican Bay
• Valencia at Pelican Bay
• Avalon at Pelican Bay
• Vizcaya at Bay Colony
• Chateaumere Royale at Pelican Bay
• St. Laurent at Pelican Bay
• Barrington Club at Pelican Bay
• Montenero at Pelican Bay
• Oakmont at Pelican Bay

For more information about Pelican Bay, contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Pelican Bay Naples Florida Home Update

The Pelican Bay Naples Florida single family home market has stabilized as a whole although there are some areas within Pelican Bay doing better than others.  As I wrote in yesterday's blog post, the lowest priced product is doing the best in Naples, Florida.  I expected the same for sales in Pelican Bay but after further research, I found some of the most exclusive neighborhoods to be the biggest winners during the last 12 months.

Pelican Bay Single Family Homes Snapshot:

There are 32 Pelican Bay homes for sale.

2 Pelican Bay homes are currently pending contract.

32 Pelican Bay home sales have occurred during the past 12 months.

Hot Pelican Bay Home Subdivisions:

Bay Colony Shores homes are actually doing better than the other single family home neighborhoods in Pelican Bay.  Specifically, Bay Colony Shores has done extremely well during the last 12 months with 7 sales and another one pending contract as I type.  There are only 3 Bay Colony Shores homes for sale now with prices ranging from $3,299,500 to $$4,500,000.

Pelican Bay Woods has also done well during the past year with 9 sales during the last 12 months.  There are 8 Pelican Bay Woods homes for sale currently with prices ranging from $730,000 (the lowest priced single family home in Pelican Bay) to $2,500,000.

Pointe Verde at Pelican Bay = 2 sales during the last 12 months with 1 home currently available there.

Pelican Bay Home Subdivisions Holding There Own:

Barrington at Pelican Bay = 3 sales during the last 12 months and 1 currently under contract.  There are only 3 left for sale in Barrington at Pelican Bay.

Jamestown at Pelican Bay = 1 available listing and one closing during the last 12 months.  The current listing is worth checking out!

Oakmont at Pelican Bay = 6 closings during the last 12 months with only 5 Oakmont at Pelican Bay homes available.

Strand at Pelican Bay = 1 sale during the last 12 months and 1 currently available.

Pelican Bay Home Subdivisions Still In Oversupply:

Georgetown at Pelican Bay = 6 homes for sale with only 1 closed sale during the last 12 months.  This is great leverage for a buyer right now if you can find a home seller interested in negotiating here.

Pinecrest at Pelican Bay = 6 homes for sale with only 3 closings during the last 12 months.  There are some nice listings here worth taking a peek!

Pelican Bay Home Subdivisions with little to discuss:

St. Andrews at Pelican Bay = 1 current listing.

Village at Pelican Bay = 1 listing available.

Bottom line is the gross oversupply of single family homes that once existed in Pelican Bay is dwindling.  You can expect for some owners to negotiate now more so than closer to our high selling season which starts as early as October depending on the weather.  If you have been waiting to get that best Pelican Bay single family home deal...I would do it now.  I think the window of opportunity is shrinking and statistics prove that point today.

You can expect more inventory to hit the market around the end of the year to prepare for our top selling season so if you're looking but you don't see anything that peeks your interest now, keep checking in!  That doesn't mean you're going to cut an exceptional deal though so make sure you know which part of your objective is most important to you.  If it's to buy a deal, do it now.

If you are a Pelican Bay buyer, contact me direct for fabulous buyer support and service!

If you are a Pelican Bay owner and are considering selling, contact me direct for the best advice on whether you should sell or hold and current property value!

Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!

Pelican Bay Naples Fl Real Estate Update

It's been awhile since you've seen a Pelican Bay Naples Florida real estate update out of me so let's not dally any longer!

There are a whopping 378 active listings in Pelican Bay right now with the lowest priced property currently priced at only $285,000 located in Laurel Oaks at Pelican Bay (that is a steal) and the highest priced property priced at $14,900,000 located in the Strand at Bay Colony

Of the 378 Pelican Bay properties for sale there are:

• 41 Pelican Bay single family homes
• 99 Pelican Bay low rise condos
• 25 Pelican Bay mid rise condos
• 183 Pelican Bay high rise condos
• 30 Pelican Bay attached and detached villas

There are currently 35 Pelican Bay properties pending with the lowest listed priced pending sale property listed at $270,000 (no brainer) located in Glencove at Pelican Bay and the highest priced pending sale rolling in at $5,795,000 in Bay Colony Shores

Of the 35 Pelican Bay properties currently pending there are:

• 5 Pelican Bay single family homes
• 15 Pelican Bay low rise condos
• 1 Pelican Bay mid rise condo
• 10 Pelican Bay high rise condos
• 4 Pelican Bay attached and detached villas

So far this year there have been a total of 105 Pelican Bay Sales with lowest priced sale selling for only $249,999 located in Laurel Oaks at Pelican Bay and the highest priced sale rolling in at a whopping $16,400,000 located in the Strand at Bay Colony once again!

Of the 105 Pelican Bay Sales there are:

• 10 Pelican Bay single family homes
• 33 Pelican Bay low rise condos
• 4 Pelican Bay mid rise condos
• 37 Pelican Bay high rise condos
• 21 Pelican Bay attached and detached villas

Obviously some segments of Pelican Bay are doing better than others with Pelican Bay villas leading the way in sales. In fact there's barely a year of Pelican Bay villa inventory on the market right now! Low rise condos aren't doing bad either but the biggest glut of inventory clearly falls in the high rise product in Pelican Bay.

Sellers: If you're thinking about selling...choose your pricing very carefully. Properties listed over $500,000 are not seeing near the traffic compared to properties priced below $500,000. Be sure your properties are in the best possible condition as well. Pelican Bay properties that are updated, clean and are priced well are clear winners while anything less can sit for a LONG time. Most importantly, if you really don't care if you sell right now, either take your place off the market or wait a bit...

Buyers: Your best negotiation will probably occur in the price ranges above the $500,000 price range but don't expect a heavy discount guarantee. Market times on many of these listings will prove that sellers can and will hold out for their price. There are already some great deal listed but do not expect to realize huge discounts off fair market value and rule but more of an exception.

For more information regarding Pelican Bay, contact me direct!

Best Regards,

Your Naples Smart Girl!

Sign Up For The Pelican Bay Pink Pages

The Pelican Bay Pink Pages is now in circulation! Here's an example of the first issue below:

The Pelican Bay Pink Pages offers a huge amount of information like:

• Listings of Pelican Bay open houses
• Current Pelican Bay market trends
• Pelican Bay neighborhood updates
• Inventory reports
• The ability to search Pelican Bay homes
• The ability to search Pelican Bay condos
• Pelican Bay closed sale information
• Buy strategies and trends
• Selling strategies and trends

There's more content than any blog or website can offer and it comes directly to you so you can be up to date on the latest Pelican Bay happenings.

Sign up and see for yourself here!

Sign up by shooting me a quick email: slefevre@johnrwood.com

Best Regards,

Your Naples Smart Girl!

Pelican Bay Naples Florida Update

Currently there are 350 listings available in Pelican Bay Naples Florida including Bay Colony. I'd venture to say that's a little bit of surplus especially since there have only been 211 closings in Pelican Bay this year. It's typical for the Pelican Bay real estate market to look its bleakest this time of year since so many Pelican Bay properties hit the market right now and so many sell January through April.

Let's breakdown what Pelican Bay is experiencing by product:

Pelican Bay Homes (Single Family):
34 Active (October and November are big activity months for new listings)
1 Pending (January, February and March are big activity months for pending sales)
24 Closed (April and October have been the most active closing months)

The best time to list your Pelican Bay Home is October and November. That gives us enough time to get our marketing in place and for web savvy Realtors like myself, it gives us a chance to make sure your home is being indexed by all the major search engines.

The best time to buy a Pelican Bay Home is September through November. Competing traffic is slow and sellers are typically tired of the dog days of summer but remember, not all of the season's product will be on the market at this time because some sellers don't believe they can sell their properties at this time. My advice is to see if there's something that matches your requirements and strike a deal if possible during this time.

Pelican Bay Villas (Detached)
15 Active (October and November are biggest listing months)
2 Pending (May is the biggest pending sales month)
12 Closed (May and June are the biggest closing months)

Pelican Bay Villas (Attached/Half Duplex):
23 Active (November is the biggest month for new listings)
2 Pending (March and April are the biggest pending sales months)
16 Closed (March and June are the biggest closing months)

The best time to list your Pelican Bay Villa is NOW. Most people coming down for season start searching around the internet right now and if your Pelican Bay villa isn't on the market, they're not seeing it as an option.

The best time to buy a Pelican Bay Villa is November or April. November is when most of the product hits the market and when you're probably going to find hard to find properties (like Cannes at Pelican Bay) before someone else snatches them up during season. If you're not as particular the best time to purchase might be in April as hopes of selling during season begin to fade. Sometimes you can negotiate your best deal at this time.

Pelican Bay condos (low-rise)
Active 97 (November is the most active month for new listings)
Pending 1 (February April and May are most active pending sale months)
Closed 66 (June and October are big closing months)

As you can tell by the numbers, there's always quite a bit of product available in this Pelican Bay category.

Pelican Bay condos (mid-rise)
Active 27 (November is the biggest winner again)
Pending 0 (February is the most active)
Closed 19 (October is the most active)

Pelican Bay condos (high-rise)
Active 154
Pending 6
Closed 74

As you can tell from the numbers above, Pelican Bay high rise condos are experiencing a little bit of a slow down and over abundance of inventory. This may be good news for you if you are a buyer because you might be able to find the perfect property fitting your needs and strike a nice deal.

Please note: Despite crazy economic conditions, we still have Pelican Bay owners who simply are not interested in giving their properties away. We also have a few who are willing to strike an outstanding deal. For example: A home in Georgetown at Pelican Bay was listed for under $1,000,000...it went under contract within a day or so of being listed.

For the best Pelican Bay Naples Florida real estate service, give me a shout. I can help you accomplish a majority of your information gathering while you are away so that by the time you get to Naples, you can be ready to roll!

Pelican Bay Naples, Florida Prices Just Went Up!

Not all of Pelican Bay homes and condos are on the rise but if you were hoping to break into Pelican Bay with $350,000 it will take some negotiating if you can make it happen at all.
Until earlier this month there were two units available in Pelican Bay for $350,000 but both of those units have since gone under contract. The next greatest deal in Pelican Bay is now listed for $374,900.

***SPECIAL NOTE***If you are searching MLS or any websites with IDX you may notice listings with an address of 800 Vanderbilt Beach Rd. This is Pelican Bay Inn which is a condo conversion and not actually affiliated with Pelican Bay as no amenities are available with the purchase of one of these units.

Some areas are completely sold out at this time while other have limited inventory left:

• Barrington at Pelican Bay, there were two homes for sale that are currently under contract.
• Only two remain in Bridge Way Villas.
• The last unit in Cannes at Pelican Bay just went under contract.
• Cocobay at Pelican Bay just sold out.
• Cap Ferrat at Pelican Bay had a unit listed for $1,395,000. Next one available is $1,795,000.
• Three in Interlachen at Pelican Bay just went under contract within the last week leaving 5 left.
• 6 properties in L'Ambiance at Pelican Bay have either sold or pended contract leaving 6 left.
• 1 left in Las Brisas at Pelican Bay.
• Renaissance at Pelican Bay has sold out.
• The lowest priced unit in St. Maarten at Pelican Bay went under contract this month pushing lowest priced unit up from $589,000 to $626,000
• The lowest priced St. Marissa at Pelican Bay unit went under contract this month pushing lowest priced unit up from $619,000 to $929,000.
• A unit in St. Tropez at Pelican Bay listed at $419,000 went under contract a couple of days ago pushing the next lowest priced unit up to $549,000.
• There's only one left in Villa Coronado at Pelican Bay.
• Waterford at Pelican Bay had only one listing that just went under contract on the 21st of this month.

Areas in Pelican Bay where there is still considerable inventory are as follows:
Avalon
Barrington Club
Bay Villas
Beauville
Breakwater
Calais
Crescent
Glencove
Laurel Oaks
Pebble Creek
St. Raphael
Valencia
Willowbrook

* One point to remember, just because there is big inventory does not mean Pelican Bay owners are interested in giving their properties away but I do know of a couple of properties in Pelican Bay where they are happy to negotiate.

If you want to get your lowest price possible it is always wise to have your agent do some research first before firing off a low offer! I am capable of doing such research. Call me and let's make a deal!

Bay Villas at Pelican Bayis an attached & detached villa (some are duplexes some look like single family homes on small lots) development located on the south side of Pelican Bay and can be accessed off Crayton Road. Built between 1981 and 1983 units consist of either 2 or 3 bedrooms and range in size starting at 1,540 square feet to over 1,900 square feet. The rental policy for Bay Villas at Pelican Bay allow Bay Villa owners to rent their properties a maximum of two times a year with 60 day minimums. Bay Villas at Pelican Bay are conveniently located next to six tennis courts, St. Williams Church and the Naples Grande hotel. See Bay Villas at Pelican Bay properties for sale!
After completing my preview of all the available Bay Villas at Pelican Bay (six total) I have three note worthy units to talk about.
For the investor, penny pincher, budget conscious or project manager There's a unit available now for $775,000 which is priced over $50,000 less than the next available unit. It was built in 1981 and needs work but the value is certainly there.
There are two more that show considerable well. First one is listed for $865,000. It gets Shannon's BIS (Best In Show) award. It has a tropical feel and has had some great remodeling done.
The second BIS award for Bay Villas at Pelican Bay goes to the one that's listed for $949,000. This one offers bamboo flooring and other nice upgrades.
For more information regarding Bay Villas at Pelican Bay or any other Pelican Bay homes, please email shannon@shannonlefevre.com or call me direct 239-595-6223