Pelican Bay Single Family Home Update

Hello Naples Friends,

It's time for the Pelican Bay high rise report! Here I'll tell you:

• How the Pelican Bay high rise market has performed
• What's going on now with the market
• What buildings are winning, losing and standing still

The past 365 day performance of Pelican Bay high rise product:
A whopping 162 high rise condos in Pelican Bay sold during the past 12 months. With only 4.44 months on the market, that puts this segement in a pretty good undersupply. Prices are still going up but not at the rapid pace they have been. In fact, there have been 17 price reductions with the units currently on the market but there's also been 4 price increases as well.
The market is slowing down at a pretty fast pace though. Market time is up 87%! That means Seller's, it's time to look at your traffic and decided if you're priced where you need to be and if you're planning on hitting the market for the 2016-2017 selling season, you'll want to price it right this year and have a great strategy to attract buyers. We have one already in place so you might as well call us since you heard it here first!
Even though list price to sales price ratio is 94% (That's pretty strong for Naples) and even though our inventories are low, I expect our inventories to increase as it always does starting around October. This is excellent news for Buyers because they should start seeing some relief in prices and have more options to choose from.  You'll want to work with a proven professional and a Pelican Bay resident like myself to help you navigate your way through a successful sale. Call us, we'll help you hit your objective!
Here's how each building is performing:
Biltmore at Bay Colony: UNDERSUPPLIED WE NEED LISTINGS HERE!

• 1 active
• 1 pending
• 1 sold during the past year.
• 95% of list to sales price ratio

Brighton at Bay Colony: I NEED '04 STACKS AND LOWER FLOOR LISTINGS HERE!

• 2 active
• 2 sales during the past year.
• 92% of list to sales price ratio

Cap Ferrat at Pelican Bay: There's lots to choose from here. Might be some opportunities for remodeling too!

• 6 active
• 7 sales during the past year
• 94% of list to sales price ratio

Carlsyle at Bay Colony: WE NEED INVENTORY HERE!

• 0 active
• 2 sales during the past year
• 89% of list to sales price ratio

Chateaumere Royale: WE NEED INVENTORY HERE!

• 0 active
• 1 pending
• 2 sales during the past year
• 100% list price to sales price ratio (How about that for perfection?)

Claridge at Pelican Bay: WE NEED INVENTORY HERE!

• 1 active
• 0 pending
• 5 sales during the past year
• 97% list price to sales price ratio

Contessa at Bay Colony: WE NEED INVENTORY HERE!

• 1 active
• 1 pending
• 1 sale (I had the buyer on the only unit closed so far this year)
• 88% list price to sales price ratio

Coronado at Pelican Bay: WE NEED INVENTORY HERE!

• 1 active
• 1 pending
• 8 sales during the past year
• 93% list price to sales price ratio

Dorchester at Pelican Bay: WE NEED INVENTORY HERE!

• 1 active
• 0 pending
• 3 sales during the past year
• 89%  list price to sales price ratio

Grosevenor at Pelican Bay: ONE OF THE MOST AFFORDABLE PER/SQUARE FOOT OPTIONS!

• 4 active
• 1 pending
• 9 sales during the past year
• 95% of list price to sales price ratio

Marbella at Pelican Bay: This is an assisted living building with onsite medical services and meal service

• 3 active
• 0 pending
• 4 sales during the past year
• 94% of list price to sales price ratio

Marquesa at Bay Colony: WE NEED LISTINGS HERE!

• 0 active
• 0 pending
• 1 sold this year
• 95% of list price to sales price ratio

Montenero at Pelican Bay: WE NEED LISTINGS HERE!

• 3 active
• 0 pending
• 6 sales during the past year
• 93% of list price to sales price ratio

Mystique at Pelican Bay: A SELECT NUMBER OF LISTINGS ARE NOW IN MLS

• 2 active
• ? pending
• ? sales during the past year (all data is not being recorded in MLS yet)
• ? of list price to sales price ratio

Remington at Bay Colony: 3 OF THE 7 BEACHFRONT CONDOS ARE HERE! CHECK THEM OUT!

• 3 active
• 0 pending
• 1 sale during the past year
• 91% of list price to sales price ratio

Salerno at Bay Colony: THIS BUILDING HAS AN OVERSUPPLY OF INVENTORY

• 4 active
• 0 pending
• 1 sale during the past year
• 93% of list price to sales price ratio

St. Kitts at Pelican Bay: WE NEED LISTINGS HERE!

• 2 active
• 0 pending
• 9 sales during the past year
• 94% of list price to sales price ratio

St. Laurent at Pelican Bay: BIG WATER VIEWS IN UNITS CURRENTLY FOR SALE!

• 3 active
• 0 pending
• 3 sales during the past year
• 91% of list price to sales price ratio

St. Lucia at Pelican Bay: COOL UNIT HERE!!!

• 1 active
• 1 pending
• 3 sales during the past year
• 94% of list price to sales price ratio

St. Maarten at Pelican Bay: OPEN AIR LANAIS COMPARED TO "SCREENED" HERE CHECK THEM OUT!

• 4 active
• 0 pending
• 4 sales during the past year
• 98% of list price to sales price ratio

St. Marissa at Pelican Bay: UNDER 800K HERE!

• 2 active
• 0 pending
• 5 sales during the past year
• 95% of list price to sales price ratio

St. Nicole at Pelican Bay: SOME OF THE BEST WATER VIEWS ARE HERE!

• 4 active
• 0 pending
• 4 sales during the past year
• 100% of list price to sales price ratio

St. Pierre at Pelican Bay: BRING YOUR IMAGINATION!

• 1 active
• 0 pending
• 5 sales during the past year
• 94% of list price to sales price ratio

St. Raphael at Pelican Bay: NICE LISTINGS HERE!

• 2 active
• 2 pending
• 5 sales during the past year
• 94% of list price to sales price ratio

St. Tropez at Pelican Bay: WE NEED LISTINGS HERE!

• 0 active
• 0 pending
• 3 sales during the past year
• 95% of list price to sales price ratio

Stratford at Pelican Bay: SOME OF THE MOST AFFORDABLE PER SQUARE FOOT HERE!

• 2 active
• 1 pending
• 1 sale during the past year
• 100% of list price to sales price ratio

Toscana at Bay Colony: NICE UNITS LISTED HERE! CHECK THEM OUT!

• 2 active
• 0 pending
• 4 sales during the past year
• 93% of list price to sales price ratio

Trieste at Bay Colony: GOOD DEALS PER SQUARE FOOT FOR BAY COLONY HERE!

• 5 active
• 0 pending
• 1 sale during the past year
• 84% of list price to sales price ratio

Windsor at Bay Colony: WE NEED LISTINGS HERE!

• 0 active
• 0 pending
• 2 sales during the past year
• 92 % of list price to sales price ratio

Ok, that's all for today. I hope you enjoyed my Pelican Bay high rise report. If you want more information or want to set an appointment to list or sell your Pelican Bay property or any Naples property, call us. We'll be happy to assist!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223

Biltmore at Bay Colony Naples Florida

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

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

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

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

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

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

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

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Biltmore at Bay Colony Update. 1-3-11

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


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

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

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

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

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

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

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

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Biltmore at Bay Colony Naples, Florida Market Update!

The Biltmore at Bay Colony is a luxury high-rise condominium located directly on the beach in Bay Colony, the most prestigious subdivision in Pelican bay. This magnificent building was built in 1997, features a total of 75 units within 22 floors and offers an outstanding list of amenities including a grand lobby, billiards room, fitness room, pool, hot tub, barbecue area and private beach access just to name a few. Unit sizes begin at about 2,860 square feet of living space and continue over 7,000 square feet of living space for the 5 bedroom penthouse. There are two assigned parking spots available located underneath the building. Rental policies are strict but most Biltmore at Bay Colony condominium owners do not consider renting their units as a personal option. Both a Bay Colony Association membership and Pelican Bay Association membership are required which means all of the Pelican Bay and Bay Colony amenities are available with the exception of golf which can be purchased for an additional price. See The Biltmore at Bay Colony Condosfor sale or for more information regarding the Biltmore at Bay Colony, contact Shannon Lefevre.
Currently there are two units available at The Biltmore. Unit 303 for $3,850,000 and Unit 604 for $3,700,000. Because of the direct Gulf location, views from all of these units are absolutely outstanding. Since the building was built in 1997 both of these units are beginning to show their age a little in some areas but overall should be considered excellent choices for those who want an exceptional condo on the beach in Bay Colony. There is a great view of the beach from the 604 unit and the 303 unit has a great Gulf and pool area view.
There are a total of six towers located on the beach at Bay Colony.

Biltmore at Bay Colony

Remington at Bay Colony

Windsor at Bay Colony

Contessa at Bay Colony

Brighton at Bay Colony

Carlsyle at Bay Colony