Naples, Florida Real Estate Update 5-12-08

Naples, Florida real estate buyers are still stirring!

I arrived at the office today to prepare for a showing appointment tomorrow with some customers from Sweden and fully expected to have plenty of quiet time to work on my Naples, Florida real estate website and catch up with some long overdue blogging.

The first surprise phone call of the day was from a really nice lady from France who's planning a trip in August to purchase in Pelican Bay. Unexpected phone calls and emails from buyers are actually not "unexpected" anymore but I do marvel at the fact that I had so many inquiries today. Not all new people. I've had some people who have been popping in from time to time as well.

For example, I have a client who is desperately seeking a single family home in Old Naples. She missed out on one last week due to another offer that came in before she could schedule a trip down here to take a peek before signing the dotted line so now we're emailing each other back and forth nearly everyday and in some cases often throughout the day discussing what's currently available and whether or not it will work for her and her family. Whew!
Then there's the guy who's been circling over a unit in Pelican Bay...waiting ever so patiently...sort of.

Needless to say, even though the air is heating up in Naples, Florida the buyers in the area are showing little to no signs of cooling off. Is it because they think now is the time to buy or because they're responding to the deals that are hitting the market. Maybe. In some cases like the Old Naples client, fears of cold winters up north are driving her motivation to purchase more than the prices are.

I think it is interesting that so many people have set appointments throughout the summer months. This is certainly a trend that I didn't expect and is defiantly a trend I saw none of last year at this time. If I were a polar bear expecting to hibernate through October I'd be grumpy about it but since I'm a Smart Girl selling Naples, Florida real estate my happy face is more appropriate and matches my summer wardrobe better.

So if you're thinking about purchasing property in Naples, give me a shout. I'm happy to assist.

Best Regards,
Shan

Naples, Florida Real Estate and Zillow

There's no mystery that Zillow has had their fair share of challenges when attempting to accurately provide real estate estimates for Naples, Florida real estate. But before anyone gets too excited, this is not a Zillow bashing post...just an update. Besides, I'd like to give a special high five to that Zillow representative who admittedly said they had been faced with the challenge down here. It was quite some time ago and they explained that they were "working on it" so I thought I would double check again to see what has improved especially since I recently wrote an offer with a very tech savvy buyer who tried to use Zillow as a point of reference. After explaining what I knew she quickly changed direction and successfully put an Old Naples condo under contract....yaeee for her!

So back to the latest comparison. What I did was pulled 3 closed sales today in our local MLS. I cross referenced the sales price and then pulled the addresses up on Zillow. Here's what I found:

8930 Bay Colony Drive #1504 - Salerno at Bay Colony - Listed for $2,295,000 sold by a fellow John R. Wood agent for $2,125,000 It took just under two months to go under contract...not bad market time! So, I pulled up the address in Zillow where it said there were 26 matching properties for that address and then another link directly under it said 44 matching properties for that address. When I click the first link a fast list of addresses show up and then disappear. I tried to open the link in another window and it wouldn't load. Hmmm.... I tried several times...holding my mouth differently each time...still no dice. So I clicked on the second link. Same results. I am happy to report that I did click on the building in the aerial shot and the building with the zestimates pulled up. Zillow shows #1504 worth $2,511,000. Was this a fire sale? No, did the buyer get a great ridiculous deal. Not in my opinion. The neighborhood is doing very well and has not been in depreciating mode so I don't know why there's a difference of that magnitude.

Difference between reality and Zillow= $386,000

2040 Sandpiper St. - Royal Harbor - Listed for $979,000 Sold for $850,000. It took just over 3 months for it to sell. The Zestimate for this home is $1,466,500. What I find curious is right under the Zestimate it shows $979,000 (what the house was listed for). This neighborhood has done well this year too...no huge difference in market value to point to.Difference between reality and Zillow = $616,500

8463 Abbington Circle #1021 - Crescent at Pelican Bay - Listed for $699,000, Sold for $600,000. It was on the market since last August with two price reductions. 17 days from 2nd price reduction in went under contract....and just as a coincidence...it was listed and sold by John R. Wood Inc. REALTORS...no kidding! Zillow says, $731,000...again, this neighborhood has remained the same in value for the last 24 months.

Difference between reality and Zillow = $131,000....we're getting closer.

I should include the fact that Zillow is not overpricing every property in Naples. In fact, while I was in the process of helping my client purchase in Old Naples, the unit she was interested in was showing it was worth substantially less. Just as I have seen on other Naples properties in the past. Again, this isn't because Old Naples properties have seen a significant depreciation...it's just that Zillow doesn't have their magic Zestimates down quite yet for our area.

From what I understand, Zillow is spot on in areas across the country and there's no doubt in my mind that Zillow Zestimates will get much better here in Naples down the road but as it stands today, your best resource to find out if you're overpaying as a buyer or under-listing as a seller is to contact a Smart Girl to help you know for sure!

Best Regards, Shannon

Naples, Florida Magnificent Properties

If there was ever a time to select a magnificent Naples, Florida property...now might be the time to do it. Not because prices are rock bottom or because "now is the time to buy" which is (in my opinion the most overused and least believed term in real estate)...but I believe now is the time to check out the inventory because now more so than any other time in my seven year Naples, Florida real estate memory have there been SO MANY INCREDIBLY AWESOME PROPERTIES to choose from.

I feel it's important to preface, I'm not talking about the really pretty Naples houses and Naples condos you've grown accustomed to seeing if you're familiar with my market. I'm talking about the kind of properties that will absolutely leave you breathless.

I've been previewing and showing pretty much solid for the last few weeks. I've also been keeping my eye on the market almost as often as I did during our crazy days back in '04 and '05 because I have buyers who want specific product that simply isn't available right now.

Just this evening I noticed a new listing that hit the market in the Strand at Bay Colony...one of the most exceptional locations in all of Naples. Currently there are three for sale there which is unusual but more importantly the FINEST OF THEM ALL just went on the market today. I had the luxury of dining there during the Naples Winter Wine Festival a few years back and I simply can't tell you how phenomenal this property is. Anybody who has walked by on the beach knows which one I'm talking about and anyone who's "anyone" knows how truly amazing this place is.

This estate along with the other two fabulous listings located in The Strand are not properties designed for the weak at heart. It will take a pretty penny to purchase one of those magnificent homes with prices beginning at a cool $14,990,000 and increasing from there but I think they're worth it. The owners know they are too and will be the type of owner who will wait for the right person to step up to the plate.

Now before you get your hopes up in taking a drive by or perhaps scheduling a showing, be prepared. There are two gates preventing you from doing a drive by and even the sweetest talking driver can't get through them. Also, be prepared to show a little documentation proving you have the means to make the purchase. There won't be a broker's tour and they won't open the door for just anyone.

If you find those choices to be a little out of your budget or perhaps estate homes are not your style, l'd love to introduce you to some of the luxury high rise condos I've been previewing as of late. The Windsor is considered THE building to be in on the beach at Bay Colony and there is every good reason for that. There are currently three units available there starting at $5,699,000 and continue to increase in price to slightly over $10,500,000.

I've only previewed two as the last is entirely out of my customer's desired price range but the two I saw are guaranteed to tickle your "I gotta have that" bone. There's also a magnificent unit in Remington that cannot go without mention. The decor there is absolutely awesome but when it comes right down to it, there's a unit in The Windsor that made my eyes water. The decorating and lay out may be the absolute best I've ever seen....EVER.

Continuing to Park Shore there's a high rise condo at Le Rivage that I would give another highest rate of approval on. Again the floor plan and decor here was above exceptional. The location for those who prefer more of a city feel might choose this location over Bay Colony and between this one and the one in The Windsor, if it were my money well, I might have to buy both and try them out for awhile before finally deciding...they are that great.


I also had the opportunity to preview one of only two beachfront villas for sale in Park Shore. Again a spectacular place offering something unique and special that the Park Shore beachfront high-rises can't do. A private pool with view of the beach, soaring ceilings and ample square footage with a fabulous floor plan are just a few of the superb attributes this place has to offer. A must see if nearly $4,000,000 is within your range.



Continuing South I could not complete my post without mentioning three more fabulous Old Naples homes I've either shown or previewed within the last couple of weeks. Price ranges start at a "wiggle" over $2,000,000 and increase to a whisper under $6,000,000. All of them are remarkable in their own outstanding ways. The lowest priced one I firmly believe is the best deal in Old Naples and is an absolute knock out. The character and appeal displayed throughout every inch of this home will please the most discriminating buyer and if that buyer is somehow attached to the most number driven counterpart, even they will find no reason to turn it down. This home is a perfect match for both parties.

My next favored property is located just over a stone's throw to the beach and within a tiny distance to 3rd Street where fine dining and shopping awaits. It has been masterfully decorated and the home design must have been brilliantly selected for the lot overlooking a beautiful lake. It will take a tiny bit more ranking in at almost $6,000,000 but again, the buyer who "wins" this one is winning something truly sweet.

My last notable property I've had the luxury of previewing is not on the market yet and I doubt it will be on long. It's a brand new construction single family home on a fabulous over-sized lot with every custom feature included. It's beautiful, unique and exquisite not super formal or casual but possesses the ability to swing either way. The builder is one of the most highly regarded builders in all of Old Naples and there's no mystery as to why he holds such an outstanding reputation. You can see just by touring the home that he loves what he does and what he creates loves him back.

This has been a remarkable time for me. To see the magnitude of real estate I've seen has always been a dream of mine.

If you'd like to see what I see or if you'd like me to talk about your property the way I've described these, I'm happy to take your call.

Naples, Florida Buyers And Where They Come From!

Naples, Florida buyers come from everywhere...at least in the United States anyway! Of course they come from abroad as well but here is a quick run down of the people who own property here in Naples but have a primary address somewhere else in the USA.
IL- 7,870

NY- 6,623
MI- 5,491
OH- 5,300
MA- 5,070

NJ- 4,640

PA- 3,640

MN- 2,332

IN- 2,299

CT- 2,165

WI- 1,887

VA- 1,477

MD- 1,427

TX- 1,219

CA- 1,160

MO- 1,074

KY- 1,071

NH- 826

GA- 810

NC- 789

RI- 716

TN- 609

IA- 536

CO- 463

AL- 360

ME- 354

SC- 334

AZ- 296

DE- 233

KS- 230

WV- 186

VT- 173

WA- 141

OK- 119

NV- 111

NE- 109

LA- 101

AR- 79

SD- 78

OR- 67

ND- 65

MS- 57

VT- 45

NM- 41

HI- 32

MT- 32

WY-30

AK- 27

ID- 21

If you're considering purchasing property in Naples, Florida but want to know what the people are like...chances are many of them are just like you! Although we seem to have more of a mid-west influence, we have our east coast influence as well. We aren't in as much of a hurry on this side of the state and yeah corny as it may be, alot of people still clap their hands at sunset but I think that's kinda sweet.

The languages spoken in Naples, Florida are mostly English, Courtesy and Respect and some others as well like Spanish, German and French but really any of the first three languages will get you through any situation.

If you'd like to work with an agent who has West Coast Roots (Mom came from California) and East Coast Roots (Dad came from New York) and Midwest Roots (I grew up in Kansas and spent 7 years in Texas) Then give me a call. I know whether or not you're drinking pop or soda or coke or if you prefer your tea "sweet" just as well as I can probably quickly identify what type of property you're going to be most interested in as well! That's why they call me "Smart Girl"!

When you think of Spring Break you think Naples, Florida right? No? Really?.....Maybe you should! But let's start with the basics! When you think of spring break what comes to mind?

• Lots of young kids acting crazy?
• Lots of under aged drinking?
• Lots of high jinxed activities like bikini contests and mud wrestling?
• Live, Loud music?
• Lots of traffic?
• Old men with binoculars?
• Crowded beaches?

Ok so take all of those visions in your head and THROW THEM AWAY! That is not spring break in Naples, Florida.
Spring break in Naples, Florida is quiet...for the most part! You will not find alot of craziness going on at the Naples beaches. There are no crazy contests or binge drinking or under aged teens stumbling around wasted on our beaches. These kids have not taken over the cheap hotels and launched a party world where no other guests can't sleep. MTV has never considered Naples as a destination for their Spring Break party. Our roads are patrolled like crazy so even the thought of drinking and driving will award you "free lodging" at one of our Naples facilities you won't want to rebook next year for sure. Here's a picture taken of the beach at Pelican Bay on Saturday:

This picture by the way was taken with my new little flip video camera....yeah, yeah...that same one everyone else is already flipping for! No kidding, I flipped too it's a pretty cool little gadget! If you've got $150.00, it's well worth it. (I'd show you the video but uh...yeah...still practicing that one!) Anyway me being the video shooting challenged that I am should've taken a better shot up and down the beach line because it looks quite crowded here and it really isn't.
Now some of you may be thinking....Sheeesh, Shannon sounds like an old coot! Naples must be too stuffy for us! Well some do call Naples "Gods Waiting Room" but no, that's not what it's about.

The special thing about Naples that many of us like is the fact that you can do all that crazy stuff you may want to do within a very short distance from Naples. For example: Fort Myers Beach is a great "Spring Break" kind of beach. They have all the stuff listed above and it's a very short drive (depending on what part of town you live in). My friend had a birthday yesterday and wanted to spend the day there so she dragged 6 of her girlfriends including me along...and yes...it's crazy and very different and fun for a change and even more fun knowing we can leave all that mess behind us and go home when we're done!

This is a picture taken from my flip camera of the Cincinnati Fire Fighters house they rent every year on Fort Myers Beach. What you can see is the yellow slide right next to the guy on the right. What you can't see is the pool that was hand dug by all of the fire fighter rookies who designed the pool with a foot deep peninsula in the middle. That's where they hold the bikini contests everyday at 2:00...and no I did not participate! :)

The beaches in Miami are really only 2 hours away...not a bad drive if that's what you're into and the greatest part...it's not going on in your own backyard.

So, if you want to take a walk on a beach with more of a wild side, you're not far from it here in Naples but it's not here!

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!

Pelican Bay Naples, Florida Real Estate Statistics Don't Lie!

The calls and emails regarding Pelican Bay homes and Pelican Bay condos continue at a steady rate most of which are still beginning with "I want a deal". I've had the following conversations with countless people lately and it continues to be a hard conversation with buyer's not quite believing what I have to say based on all of their news they've gathered from various news sources across the county.

This post was written for not one buyer in mind but four to help me get some valid points conveyed.

If you too are looking for a Pelican Bay deal. DO NOT DELAY!

Here are some more examples of Pelican Bay's best deals now pending contract or recently sold:

Avalon at Pelican Bay:
What I considered to be the best deal in Pelican Bay just went under contract with a list price of $350,000. It was reduced from $375,000 On February 1, 2008. Pended contract on February 6, 2008.
Next one available is $399,000 - Nearly $50,000 for a smaller unit which backs up to a busy road. The pending unit backed up to a park and was a second floor (bigger) unit.

Barrington Club at Pelican Bay:
A unit sold on December 21, 2007 for $400,000. Next one available is listed for $492,000. That is a $92,000 difference.

Brighton at Bay Colony:
A unit on the 19th floor listed for $2,695,000 went pending on January 22, 2008. It was only on the market 4 days. YES...It was a screaming deal! Another unit on the 10th floor sold on January 15, 2008 for $2,600,000 it too was a screaming deal. The next one available is on the market for $3,295,000 it is on the 7th floor. That folks is a 695,000 dollar difference.

Need more proof?

Cap Ferrat at Pelican Bay:
A 4th floor unit listed at $1,395,000 went under contract on January 1, 2008 (yes...while some people were nursing a hang-over somebody else was hunting deals). The next Cap Ferrat unit available is on the market for $1,795,000...yes this one is a bigger unit...yes it is on a lower (less desirable) floor and yes...if that New Year's buyer bought it for full price, that is a $400,000 difference!

Carlysle at Bay Colony:
A 3rd floor unit listed at $2,295,000 went under contract on January 2, 2008 (maybe because they were nursing a hang over the day before). They still won because the only other unit available in Carlysle at this time is listed for $4,200,000. Yes it is on the 20th floor and is a bigger unit and yes it is listed at nearly 2,000,000 more than the one under contract right now!

Marbella at Pelican Bay:
Unit 502 closed last December for $795,000. Unit 802 closed for $820,000 last October. Next one available...#204 for $1,245,000 a $425,000 for a less desirable floor...bigger yes...not as great of a view.

Serendipity at Pelican Bay:
One sold January 2nd for $320,000...there's another one (a little smaller) currently available for $450,000...$130,000 more!

Still not convinced?

Oak Lake Sanctuary:
Sorry...nothing available. Last unit available sold January 8th...(must've been some party)

Renaissance at Pelican Bay:
Sorry...nothing available. Last unit available went under contract on January 23rd...

Hopefully there's enough examples here for you to get my point.

Let's just assume from now on going forward:

• Unless you're reading or watching something specifically about Pelican Bay or Bay Colony that perhaps those other real estate related stories don't really count.
• The most reputable resource regarding Pelican Bay or Bay Colony isn't CNN or MSNBC or FOX or even the Naples newspaper.
• The most reputable resource might be the real estate agents who are working that market everyday and who are talking to the Pelican Bay and Bay Colony seller's, buyers and the prospective clients who call and email requesting more information and talk about and in fact are writing offers and closing contracts for those properties.
• I don't lie about what I see, hear or report. Neither is the agent who has had 8 showings on her 2 day old Bay Colony listing or the MLS statistics.
• I'm too driven to success to try to entertain you with inaccurate information.
• I'm too ready to help you purchase to forward you outdated information.

By the way...some of my most intelligent buyers are getting it.

I expect to write two more great offers tomorrow.

Cannes at Pelican Bay is a gated coach home community in Pelican Bay featuring only 4 buildings and 16 units. Built in 2005 these beauties offer primarily lake views and are located on Pelican Bay Boulevard directly in front of Cap Ferrat. Unit sizes begin at 2,902 square feet and end at 3,686 square feet. A community pool is offered along with a walkway to the Pelican Bay beach access tram. Cannes at Pelican Bay property owners may rent their units three times a year with a 30 day minimum. See Cannes at Pelican Bay homes for sale!
There is only one unit available in Cannes at Pelican Bay at this time. It's listed for $1,995,000 features over 3,600 square feet of living space and offers a two car garage. It's currently being offered decorator ready. Many nice interiors have been selected regarding countertops, cabinetry and appliances but it has not had a final clean and does not show as neat as you might expect so be prepared to look past that to determine the value. It will take a little adjusting to accomplish this but once you do, you will see it really is a fabulous unit.

For more information regarding this unit or any property in Pelican Bay or Bay Colony, contact Shannon direct at 239-595-6223 or Shannon@ShannonLefevre.com

Is Your Naples Real Estate Agent Wired In?

For the first time in my life, I spent the first part of my day in jury duty. I was there from 8:30 this morning til 12:30 and will be required to go back at 1:30 because somebody is going to trial. As I looked around the room at all the people waiting patiently just like me I noticed, I am the ONLY one still conducting business besides the man sitting next to me clicking away busily on his Blackberry who by the way is not a REALTOR, I could tell by what he was saying on a business call he made.
If we took the law of averages and I guessed there were approximately 75 people in the room, then that would mean there were 60 real estate agents. Ok just kidding about the number of real estate agents but seriously, I highly doubt I was the ONLY NAPLES REALTOR in the room. What was I doing? Working on my laptop. talking with colleagues about the hottest deals in Naples, updating www.ShannonLefevre.com, writing emails, returning emails, checking out the latest market updates, networking with 47,000 other industry related individuals. What was everyone else doing? Reading the paper, watching tv...(yes they have a tv in there broadcasting CNN's 9/11 anniversary updates), reading a fiction novel, sleeping, drinking coffee, staring off into space...What's my point?
Even when I'm requested to be somewhere else, I can and usually am still working the Naples real estate market...being the best I can be and all I can be while I can be.
If you're looking for a Naples Real Estate agent who IS dialed in and all about selling your Naples real estate...think, Smart Girl, Great Results!