If I had to use just one word to describe the 2013 Naples Florida real estate season, I might use the word, “heartbreak” or “challenging“. 2013 marks the season where sellers recognized they were once again in the drivers seat and buyers had a difficult if not impossible time finding Naples properties suitable for their objective. Here’s a compilation of some of my experiences this season and some points you’ll want to know about if you are still considering selling or making a Naples real estate purchase.
Hello Naples Friends!
Currently there are 4 Bay Colony Shores homes for sale and whether they’re sitting on a fabulous lot and a half, have had craftsmanship completed by experts from far away places or recently and fabulously remastered…there’s something special about each one.
Bay Colony Shores has had two closings during the past 12 months and technically there’s two years of inventory on the market but I wouldn’t let the numbers fool you into thinking you can get some terrific half price deal (just yet). There’s quite a few extras going on in every one of the current listings so if you’re not accustomed to looking at details you may be disappointed when you begin to consider your negotiations. As an example let’s consider the age of Bay Colony Shores in general. The large majority of the Bay Colony Shores homes were built in the 90′s and unless they’ve been redone like one on our currently for sale list, then there’s a strong possibility they’re ready for some updating. I must admit there’s another home in Bay Colony Shores currently for sale that requires very little if any improvements because it was done so well that it will probably attract a large base of people who wouldn’t feel like much was required…hence the price. So if you keep in mind the level of effort the large majority of the world would require to make it comfortable for them when making your offer then that “should” assist you with your pricing strategy. I’m going to caution you for a moment here. Every once in awhile I get a customer who tastes may be extremely particular and may try to use their satisfaction requirements as a cause for discount…it’s a widely unsuccessful approach here in Naples. That’s why it’s wise to have a Smart Girl like me help you with your negotiation strategy. There’s probably a better and more successful strategy to use that will help you acquire what you want.
I recently updated the pages of my Naples real estate website concerning Bay Colony Shores in Bay Colony. From there you’ll be able see all available Bay Colony Shores homes for sale, review Bay Colony Shores past sales information (and even download the whole spreadsheet into your Excel or Numbers program to analyze the sales data further) and finally you can check out the Bay Colony Shores site plan in full detail. The other thing I want to mention is it’s also not advisable to try to discount features about a property that you don’t personally see value. For example, if a property is offering a lot and half, that’s clearly going to come at a greater cost. You may not see value in having the extra elbow room or enjoy a home that offers a more expansive linear footage plan but that doesn’t mean it’s now free to you.
Clearly real estate is more fun for a buyer when there’s countless properties to see and sellers are discounting great levels off their pricing. Everybody wants a deal right? Let’s be serious though, everybody doesn’t want a deal when it means having to exit a superior neighborhood that offers insurmountable amenities which is why Bay Colony Shores can command such pricing. There’s only 78 single family homes in all of Bay Colony (by the beach)(12 Strand at Bay Colony homes). Of those 78, there’s only 4 on the market. Call me, let’s make a move ;)
Shannon Lefevre, PA
Your Naples Smart Girl!
Since open houses are not typically available I have not added Bay Colony Shores
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:
- 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%
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…
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
3. Coquina Sands
4. Escada at Tiburon
5. Estuary at Grey Oaks
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.
Your Naples Smart Girl!
I performed an extensive analysis on Pelican Bay today to help a buyer better explain his price position on his offer. If you’ve been following my Naples real estate blog or if you’ve had your ear to the ground here in Naples, you’ve heard two things repeatedly.
- There’s no inventory
- We’re expecting a very busy buying season
With sales steadily increasing buyers are losing power in negotiations. It’s been an interesting pre-season to say the least. As an example there were 1,604 sales from October to December 28th last year in Naples Florida. This year there were 1,923 (up 18%). That has clearly put a new tone in listing agent and seller’s voices and you can’t hardly blame them…they’ve been waiting a long time to get the upper hand again and many feel like they have it…but do they?
Having a thorough understanding of a market is one of the most valuable assets a real estate agent can possess and sadly few can analyze a market well enough to have an undeniable understanding. Unfortunately the data can be difficult to figure out and in some cases there isn’t enough data to properly assess to get a true value of a property. That’s where my Pelican Bay analysis came in today.
For the sake of confidentiality, I’m not going to discuss the exact location within Pelican Bay my buyer is targeting but because there was a strong discrepancy regarding current values in the location, I broadened the scope of my analysis to check my accuracy of understanding the Pelican Bay market.
This is when negotiating can get tricky. The listing agent in this case was clearly holding tight to the idea that just because one buyer clearly over spent means that there’s a well defined much higher market value in the neighborhood…total bummer. So I held tight to the other Pelican Bay sales that made more sense while finding visions of holding hands merrily to the closing table were quickly fading…eh…been here before. So here’s what I found out about our current Pelican Bay real estate market.
The short answer to, “is there going to be more foreclosures in Naples“? Is yes. It’s normal for there to be some level of distressed properties in our market. In fact, there are currently 159 foreclosures on the market which represents 2.9% of the overall market.
But if you are primarily interested in Naples luxury real estate, I wouldn’t get too excited. There are only 2 properties listed over $1,000,000 that are being advertised as foreclosures. That represents .0003% of the total active Naples real estate inventory. One is in Grey Oaks the other is located in Naples Boat Club. Neither of these properties are priced less than 1% of what the tax appraised value shows so I would hardly consider that a deal.
In fact after reviewing the entire list, I could only find two more properties located in any of the 18 Naples neighborhoods I follow on a continuous basis. Both of those happen to be located in Pelican Marsh. Both of those properties were also listed within 1% of what the tax appraised value states. Clearly, I would not consider foreclosures in Naples as a widespread viable opportunity for deal.
Are there deal opportunities in Naples short sales???
Currently there are 273 “potential” short sales on the market in Naples which counts for barely 5% of the Naples active inventory. Once again there are only 7 properties listed over $1,000,000 and while listing agents continue to list properties as “potential short sales” that doesn’t mean there’s an opportunity for a deal.
The short sale process can be a tear jerking experience. Specifically, even if you negotiate your deal with the seller, your deal closing is ultimately at the discretion of the seller’s lender and the chief decision maker has no dog in that fight. That’s why it’s common to find evidence in the listing history where the property has been placed under contract and has gone back on the market in some cases several times. That’s a pretty good sign that the bank isn’t dealing or is taking so long buyers are giving up. Sometimes you’ll see price manipulation in there as well. It’s common to see prices going up or down in efforts to either pull in an offer or accommodate a bank’s demands. Ultimately they’re time consuming which in an appreciating market with low supplies, that problem could cost you considerably.
Where’s the best opportunity for a Naples luxury deal? Find an end user who doesn’t mind leaving a few bucks on the table but retire your efforts completely if you’re expecting huge discounts of list prices.
The tone of the large majority of my buyers during the past several months is NOT “get me a deal”. Don’t get me wrong, nobody begs me to overpay either but the whole concept of buying Naples real estate at large discounts and distressed values is by and large over. The overall tone of most buyers I’m working with is, “find me what I want” which is becoming a bigger problem by the day. Currently I am working with more than a handful of buyers who want what is not currently on the market and they are for the most part, crossing fingers I can just find it and hoping they can pay market value. A couple of buyers have even come to terms they may not pay market value but perhaps slightly over to get what they want. The days of hovering over MLS and getting creative about finding ready and willing sellers is back.
You are going to do best if you get down here now and cut your deal. The longer you wait this year through season, the higher your chances of smaller inventories, higher pricing and competition with other ready, willing and able CASH buyers. and if there’s any point I’d like for you to consider most it’s this:
If you see something you like, PLEASE MAKE A MOVE NOW! Do not wait until after the holidays to do something. I realize you may be busy and I will make every effort to assist you but waiting can very easily cause a problem.
(Let me make a quick disclaimer here: If we fall off that dadgum fiscal cliff…that might change my whole spill. I am only a REALTOR and not a fortune teller or a clairvoyant so please contact your favorite one of those people for further insight regarding that matter. :). If we continue as we are…it will get messy…for sure…oh and if the end of the world happens on the 21st of December…then all bets are off) :)
Here are a few points to support my Naples real estate market heat up hypothesis:
On my Naples real estate website for the first 9 days of December:
- Visits are up 47% compared to last year.
- Page views are up 46% compared to last year.
- Pelican Bay interest is up 27% over last year
- Naples waterfront for sale interest is up 75% over last year
- Naples beachfront condo interest is up 52% over last year
- Pelican Marsh interest is up 143% over last year
- Naples condo interest is up 114% compared to last year
- Bay Colony interest is up 29% compared to last year
- Park Shore interest is up 73% compared to last year
- Port Royal interest is up over 200% compared to last year
The last thing I want to discuss is SHADOW INVENTORY. Remember hearing about all that talk about shadow inventory? Oh we’re in so much trouble because there is a looming 20 zillion properties that will go on the market when the current inventories shrink…???!!!
Listings taken in the month of November compared to last November are down 13%. For the first 9 days of December, down 38% over last year. Will there be more as season progresses…I sure hope so! At this point I am already checking MLS several times a day for customers who are waiting for specific properties.
Please contact me asap if you are planning a Naples visit and expecting to purchase Naples real estate. I want to accommodate you the best way I know how and would be totally bummed if I did not get to assist you personally.
If you’re thinking about selling your Naples real estate, please let me help you so you can get your best price with the least amount of hassle.
PS~ There’s 10 days til winter!
Shannon Lefevre, PA
Your Naples Smart Girl!
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 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!
That feeling 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!!!
Shannon Lefevre, PA
Your Naples Smart Girl!
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!
Shannon Lefevre, PA
Your Naples Smart Girl!
Coquina Sands Naples Florida has experienced tremendous success with 58 pending sales and closed contracts for the last 12 months leaving less than 5 months supply of inventory. Find out what that means for the rest of you who are thinking about buying or selling in Coquina Sands this up coming season.
Let’s look at the Coquina Sands real estate market at a glance:
Coquina Sands Homes
8 Coquina Sands homes are on the market right now. There are 28 sales (and homes under contract) during the past 12 months. That’s only 3.43 months of inventory. Of those 8 there are two Naples Casamore homes currently available while 3 of those are currently under contract and two have closed during the past 12 months. Nearly all of the tear down product in Coquina Sands has closed which pushes the lowest priced home available from the $300′s to the $500′s currently. The bottom of the Coquina Sands market has clearly come and gone.
If you’re thinking about purchasing a Coquina Sands home: Time is not your friend. I encourage you to check out the market as soon as possible, identify something you can be happy with and pull the trigger ASAP. Be prepared for tightened negotiations even though the past 12 months is showing a 90% list to sales price ratio. It is best if you’re paying cash and contingencies at this time will probably be frowned upon if not completely refused. If you have been looking but haven’t found what you like, you might try these strategies-
- Have your agent check MLS several times a day to see what is hitting the market and be prepared to respond as soon as a new Coquina Sands home go live. This scenario may mean even if you’re fast you might compete which does not necessarily put you in the best negotiating position but at least you have a shot at what you like. It is imperative to work with a quick response agent. If your agent is used to rolling into the office at 10, taking a 2 hour lunch and scooting out at 4 for happy hour, you may miss more than a few before you reach your goal.
- Have your agent scout for the perfect property by contacting owners who are not presently on the market in hopes to bypass competition. This route doesn’t always put you in a best negotiation situation either because typically if the seller has not been motivated enough to go on the market, you will likely pay a higher price. Regardless this option might be what it takes for you to get a shot at something you really like.
If you are a seller who wants to sell your Coquina Sands home: Congratulations! You made it through the downturn! Pricing has clearly started to rise but you want to be conscionable about your price even still. I am starting to see evidence of some crazy pricing which is customary when a market starts heating up. We are not at that point of the market just yet. It is wise to list your home with an experienced Naples Realtor. I am seeing new agents with listings in Naples luxury locations who do not understand the market and are making serious mistakes which will likely lead to longer market times and lower sales prices for those sellers. It happens. We have excellent data to help you with your pricing and experienced Naples Realtors like myself have an arsenal of skills and techniques to help you sell your property quickly and for the best price.
Many of our customers are looking to sell and purchase something else in Naples so you want to do this as quickly as possible before the inventory you’re interested in either disappears or takes a big price hike.
Coquina Sands high-rise product is the only product in Coquina Sands that has not fully recovered but the numbers are close. There have been 3 Coquina Sands high rise sales during the past 12 months and 4 are currently on the market. Buyers have talking points here for negotiations! Contact me direct for details.
For mid-rise and low-rise Coquina Sands condos, there’s just over 4 months supply of condo inventory here so please review the advice I gave Coquina Sands home buyers and sellers. It is the same with one exception. While I fully believe pricing will take a jump within the next few months or so, there are still some great buys here. The fact that you can still buy a Coquina Sands condo for under $200,000 is a gift. I fully suspect the five units under $500,000 to disappear fairly fast here.
Here’s why ~ There’s 22 Coquina Sands condos priced under $500,000 that have sold or are currently under contract and there’s only 5 left (2.73 months of inventory) I would call this an endangered species at this point. If your desire is to purchase a Coquina Sands condo under $500,000 this year, please take my cue….on your mark, get set, go!
That reminds me of a joke my Dad told me once:
A guy goes to the Dr. and says, “Doc, I just don’t feel great”. So the Dr. runs all these tests and comes back and says, “I don’t have good news…you’ve only got 10″. The guy says, “10 what? Years…months”? The Dr. says, “9….8…7″.
The moral of that joke my friends is if you want to pay a good price in Coquina Sands you no longer have years to make your Coquina Sands selections and check out. You no longer have months and months. The time is now.
Shannon Lefevre, PA
Your Naples Smart Girl!
Exciting news about Collier’s Reserve Naples Florida. The market has all but stabilized with the current inventory levels coming in at 15 months of supply (12 months of inventory is stable) This means there still might be time to cut a terrific deal in Collier’s Reserve!
As it stands there are 15 Collier’s Reserve homes for sale with 12 Collier’s Reserve sales during the past 12 months and even though prices have started to increase in this Naples, Florida location, you can still get quite a bit of home for the dollar here!
Before the downturn Collier’s Reserve used to pride themselves with the concept that it took at least one million dollars to break into the neighborhood and that could be true once again in the very near future. All current listings are currently priced at one million dollars or above at this point. There could still be some lower priced homes hit the market between now and January but time is going to tell on that one. Just last year there were two homes that sold in the $700′s. Those days might be over for awhile anyway.
Here are some important Collier’s Reserve real estate statistics you want to know:
- Lowest priced home for sale in Collier’s Reserve is currently $1,000,000.
- Highest priced home for sale in Collier’s Reserve is currently $2,750,000.
- Average list price in Collier’s Reserve now is $1,533,000. (up 2% from homes that sold during past 12 months)
- Average list price for Collier’s Reserve homes that sold during the past year is $1,501,750
- Average list price per square foot on currently listed Collier’s Reserve homes is $368 (up 3% from homes that sold during past 12 months)
- Average list price per square foot on homes that sold during past 12 months is $355
- Average market time on Collier’s Reserve homes listed now is 155 days (down 46%)
- Average market time on Collier’s Reserve homes sold during past 12 months is 239 days
- Average list price to sales price ratio for homes that sold during past 12 months is 90%
Buying a Collier’s Reserve home requires more strategy today than last season. That’s why you want to work with a Naples Realtor who can assist you with a compelling negotiating strategy. There are clear points I can use to help you with your Collier’s Reserve buying strategy. Contact me direct for those points.
Attention Naples real estate investors: Some Collier’s Reserve homes are starting to show their age and could be fluffed up and flipped provided you purchase the right property at the right price. Contact me for details regarding this opportunity.
Selling a Collier’s Reserve home is getting easier as time goes by but you are not out of the woods just yet. You want a Naples Realtor who can assist you with an effective marketing program and somebody who knows how to help you close the deal on YOUR home not just a home in Collier’s Reserve. Contact me today to see what skills I offer to help you get your home sold fast and for the best price with the least amount of hassle.
For more information regarding the Collier’s Reserve market, to see Collier’s Reserve homes or to list your Collier’s Reserve property, contact me direct.
Shannon Lefevre, PA
Your Naples Smart Girl!
Hello Naples Friends,
I just enhanced the Lely Resort portion of my Naples real estate website. From here you’ll be able to see Lely homes and Lely condos for sale as well as have the ability to be able to research recent sales in Lely and even view Lely open houses. This is all part of my continuous effort to provide the best and easiest to navigate Lely Resort content in Naples Florida. If you can think of something you would also like added, I encourage you to contact me direct.
For more information regarding Lely Resort I encourage you to check out my Naples website or contact me direct.
Shannon Lefevre, PA
Your Naples Smart Girl!