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

Bay Colony Naples Florida Update

Bay Colony Naples Florida Update!

I know I said I was going to write about Pelican Bay sub-communities separately, and I will...but we can't leave out Bay Colony as a whole! So here it is!

Bay Colony has a LEVEL amount of inventory...in fact in a short period of time it may even be technically under-supplied!

Bay Colony Active Listings = 38
Bay Colony Solds (During Past 12 Months) = 38
Bay Colony Properties pending contract = 4

Market time in Bay Colony is shrinking! Average market time for properties that have sold is 270 days, for properties pending it's 671 days and for Bay Colony properties that remain on the market 244.

List price to sales price ratio is 90.21% but somebody actually negotiated a deal last September for only 68% of list price. WOW! That doesn't happen very often!

At first glance it looks like Bay Colony is getting less expensive since the average list price per square foot of the Bay Colony properties that remain on the market come in at $743/sq. ft. and the sold price per square foot average is $786/sq. ft. but ultimately that is because we had two homes in The Strand at Bay Colony sell during the past 12 months.  Strand homes are the biggest homes in Bay Colony and the only single family homes available on the beach in Pelican Bay. 

You're going to find some Bay Colony High Rise buildings doing very well and some with a slight over-supply of inventory. Some of this is going to be properties that have just hit the market in preparation for the upcoming selling season.

BUYERS~ Do not expect to go into negotiations with just a run of the mill, "the economy is in the toilet" negotiation tactic here. Many owners will hold out for their price as proven by the seller who owned Brighton at Bay Colony 1702. I personally had 2 people interested in that unit who were not willing to pay what the seller wanted.  The owner ended up getting over 95% of his list price...much less than what my buyers were willing to pay.  While it is always great to have a negotiating plan (when you work with me, I provide one to assist you) it must be understood there are some sellers here willing to leave a few dollars on the table to get the deal done, some sellers are more interested in the bottom line and can/will wait. If you think you're ready to make a Bay Colony purchase. Call me to get started!

SELLERS- If you are thinking about selling I would strongly consider reviewing the market in your building or subdivision first and making your decision based on the amount of inventory already on the market if possible. If you don't care about that and you want to sell anyway, property condition and price are two HUGE key factors.  Hard Contemporary decor is not a huge selling point here.  If you have decorated your unit in this fashion, you might consider having your home staged to sell fast and even net more money.  If you have a unit in original or near original condition, it may be most advantageous to do some remodeling if time and money permits. Many units are starting to show their age in Bay Colony and this may become a problem for people who want to net a certain amount or sell quickly.  Pricing your Bay Colony property properly will alleviate any market time issue.
For more information on how you can sell faster and net more, call me direct!

You can expect to see more updates about the individual sub-communities of Bay Colony as we go. 

PS~ I received a call from the sweetest lady from Boston today who is in Naples with her husband and are ready to see Pelican Bay high-rises.  I absolutely LOVED talking with her today and look forward to assisting you with your Pelican Bay endeavors as well!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Brighton At Bay Colony Naples Florida Update

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

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

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

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

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

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

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

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

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

Brighton at Bay Colony Market Update

The Brighton 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 1994, 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 2,760 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. A unique feature about the Brighton at Bay Colony high-rise is the contemporary curvature of the building footprint along with the glass railed terraces which allow the ability to fully take in the beautiful Gulf of Mexico landscape.
Rental policies are strict but most Brighton 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 Brighton at Bay Colony Condos.

Current Happenings in Brighton at Bay Colony

There is only one unit available currently in the Brighton at Bay Colony. It is currently listed for $2,875,000 and is a beautiful unit offering over 3,300 square feet of living space located on the 10th floor with outstanding views of the Gulf of Mexico. The unit is owned by the original purchaser and appears to be in absolute excellent condition as they have rarely used the condo. The community room at Brighton is currently under construction. I peaked in a couple of days ago and as it stands right now it is completely gutted. I've been told that the project will be complete by season. It is rumored that there will be two more units available soon so if you have an interest in the Brighton at Bay Colony, contact me for more details at shannon@shannonlefevre.com or direct at 239-595-6223.

For information regarding other Bay Colony Beachfront condos:

Biltmore at Bay Colony
Remington at Bay Colony
Windsor at Bay Colony
Contessa at Bay Colony
Brighton at Bay Colony
Carlsyle at Bay Colony

For information regarding other Bay Colony Communities:

Bay Colony Shores

The Strand at Bay Colony

La Palma at Bay Colony

Vizcaya at Bay Colony

Mansion La Palma at Bay Colony

Marquesa at Bay Colony

Salerno at Bay Colony

Toscana at Bay Colony

Trieste at Bay Colony

If you're interested in buying or selling any Naples Florida real estate, I am always happy to assist.

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