Naples Florida Real Estate: April 2008

If you were one of the first people to purchase in the Biltmore at Bay Colony, you made a smart investment.

According to the Collier County tax records the lowest priced unit to ever sell in Biltmore was only $815,000.  I'm sure back in 1997 when the building opened that may have seemed like a pretty expensive venture but as time rolls on, sales throughout the years have proven it was a sound investment. 

Of course not everyone purchases properties in The Biltmore at Bay Colonysolely for investment reasons.  Afterall, it is one of the six condominium gems lining the beachfront in Bay Colony.  It makes sense that person who purchased their unit for the now considered low, low price of $815,000 still owns the unit.  If you had a view like this to look at everyday, maybe you wouldn't be so quick to sell either.

One thing is for sure, you'll never miss a sunset from one of their glorious lanais!

Now one might venture to guess that if the building was completed in 1997 that it might be starting to show its age.  Although it doesn't show brand new, the common areas are still very elegant and a far cry from something showing its age!  

The Biltmore is a magnificent building with beautiful decor.  No wonder why a penthouse owner paid well over $6,000,000 last year and the another paid $7,000,000 (the highest price paid to date) in 2003.

Today there are only two units available in The Biltmore.  Those are price between $3,500,000 and $3,695,000 and offer those fabulous views discussed earlier.  If you'd like to see them, give me a shout.  I'd be happy to set an appointment for you!

Best Regards, Your Naples Smart Girl!

A couple of months ago I reported that perhaps the prices in Pelican Bay were going up.  I made that report because there were several Pelican Bay neighborhoods where the lowest priced properties were either under contract or sold and the next properties available were significantly higher in price.

Now taking a look at the overall indicator, average sold price:

NA04 - Pelican Bay Area
0-12 Months 24-12 Months 36-24 Months 48-36 Months	$1,377,931 $1,374,839 $1,422,845 $1,059,932

You will see that Pelican Bay is doing a great job holding it's own in this Naples real estate market that seems to be so diverse.

At one point last year Pelican Bay was down...I think around 11% if memory serves but as you can see from the graph above Pelican Bay is now level (or slightly higher) than last years ranking and down only 3% from the year before.  Not bad considering Pelican Bay saw a 34% jump the year before. 

So enough with the Pelican Bay real estate recap...what would I buy specifically?

Well I don't know if it's end of season jitters and sellers are adjusting their prices down because they're scared they missed all of the buyers but it seems as if there's a fresh batch of low priced listings.  That's even better than a fresh batch of just out of the oven cookies!  Trust me!

For example, there's a unit in Laurel Oaks at Pelican Bay that was listed last October for $395,000 and has recently been reduced to $349,900 (the lowest priced number we've seen in Pelican Bay....these don't seem to last very long) except the big deal about this one is that it's had a few updates done making this feel like even a better deal compared to the others I've seen at this price range.  

Couple that with the fact that this association enjoys a pretty lenient rental policy, 3 times per year/30 day minimums and the fact that unit owners here enjoy a pretty low association fee (compared to other locations with Pelican Bay) I think you've found a pretty cool investment.  Especially considering that most people (priced right) have absolutely NO PROBLEM renting their units out in Pelican Bay. 

This one gets the "Shannon Seal of Approval".  I'd buy that!

There's another one in Serendipity at Pelican Bay that definitely gets my seal approval.  Not the one being marketed as the lowest price per square foot...but the other one offering the same footage.  I think that one is a steal!

There's another one I showed yesterday that is a real cream puff.  I'd tell you about that one but I have a buyer on point for that and I can't ruin it for her.  I like her too much.

If you want to know more about Pelican Bay or Naples, Florida real estate, don't hesitate to call or email me direct.  I like to tell it as I see it.  It tends to be more useful for my clients and it sure has helped my business! 

Best Regards, Your Naples, Florida Smart Girl.

In about an hour I will be escorting some folks who were kindly referred to me by Cyndee Haydon from Clearwater, Florida.  Thank you Cyndee for your faith in me.  I'll do what I can to give your folks a well constructed and informative tour of our beachfront condos in Naples, Florida. 

It's a beautiful bright sunny sky today here in Naples and we just hit the 80 degree mark with a light, cool Gulf of Mexico breeze so showing Naples beachfront properties today will be a treat for all of us. 

It's hard to call work, "work" when you get to watch the dolphins play while you're showing real estate.  Of course the only thing that might be better is to be lounging on one of our beautiful Naples beaches but until I can figure out how to get paid for that, I think I'll stick with the next best thing.

If you too are considering a Naples beachfront condo, there are really only a small handful of locations that exist here in Naples.  I wrote a post awhile back which outlines all of these fabulous locations.  If you have time you might check it out:

Naples, Florida Beaches

Anyway, I just wanted to say thanks Cyndee for the referral.  Regardless of whether they purchase in Clearwater or Naples, it is still a win for Florida!

Best Regards,

Shannon Lefevre, Your Naples, Florida Smart Girl!

About 10 or 11 years ago when I first started selling real estate in Granbury, Texas and when I still had that, "I can do anything by myself....I don't need any help from anybody" mentality, I had a fight with a commercial for sale sign and lost.

Here's how it went down:

I had just gotten a listing for a commercial tract of land.  If memory serves it was a pretty decent listing and in that tiny town, those were difficult to come by.  So you can imagine my enthusiasm about wanting to get started marketing the property right away.

Well because this was a pretty big tract of land it would only seem fitting for there to be a "pretty big" sign on the property as no little rickety yard sign would do.  So I took a peek at what the company had available for commercial signage in our little storage area located in the back of the building.

There was one really, really big sign I knew I would have to pay someone to take over there because the darn thing was on skids and required a truck which would take who knows how long to get out there....(probably years) or I might with some ingenuity be able to get this other big sign out there in my suv but the sign was so big I doubted it would fit.  Hmmm...

As usual other people in the office must've smelled that I was up to something because they all started "dropping by" outside to see what was going on.  Me....obviously on a mission explained that I was going to get "that" in "there".  Me of course thinking that the toughest part of the deed was in fact getting "that" in "there".

Well, I got started.  Backed the car up, popped the back open......scooted the sign out...kinda heavy...well...it's all about leverage as Dad used to say...oh I am NOT going to let this sign get the best of me....SHOVE.  Hey, cool got it out of it's home and to the car.  Another 20 minutes or so in the car. 

Now, for those of you who need to understand just how big this sign was.  I want you to imagine a Chevy Tahoe.  The sign was exactly....I mean without a centimeter to spare the size of the inside of the car.  From leg to top of the frame it touched both windshields and all sides of the car. Another perfect description....while standing on the part where you would normally stand to get it in the dirt...if I stood on that then I could wrap my finger tips over the top of the sign...got a good mental picture?

Within the next 10-15 minutes or so, I'm on site with sign and ready to post!  Man...it's windy today...I guess I didn't realize how windy it was.  Whatever....yank the sign out of the car and look at how far I have to walk with the bloody thing before I arrive at the best appropriate spot...oh, I can do it...march on.

I arrive at the spot after nearly being blown off the face of the earth after learning that if I put the flat side of the sign into the wind, means I will soon end up as the first human kite without a string.  But....I made it.

Ok, now all I have to do is get it in the ground.  Ok so I'll just hike up my knee and get it on that little foot rest that stands oh say about 3 feet in the air and oh well...hell...are you kidding me?  Do you have any idea how easy it is to post a sign in Granbury, Texas?  It's 98% rock for starters and they get rain at least 3 times a year there and today was well I dunno day 218 without rain??? Maybe...

Again, I am not going to let this sign get me down.  So I hike up the first leg...nope....hike up the other leg...nope...stand...think...hike up the first leg...nope...I got it...on your mark get set....GO!  In one leap...I jump land both feet in that blasted little toe holder...I am now standing on top of the world...uh oh...wait...my foot is stuck and I am falling forward.......BOOM!

I have managed to fall face down on top of the sign on one of the busiest highways in my town. 

Now...go ahead ha ha ha that's funny...whatever.  The best part for me I guess is that I know...for a fact...nobody saw me.  How do I know you may ask...because there are only two possible reactions should you see this happen live. 

• You laugh so hard you wreck your car.
• You're so concerned about whether or not the idiot who just did that is alive you stop the car and ask if they need assistance.

Neither of which happened...thank GOD!

Happy Friday!

If you live in Naples, Florida, you have figured out that finding a good hair dresser/stylist is difficult.  Finding a good hair dresser/stylist who doesn't charge absolutely ridiculous prices is near impossible.  I know this because it took me 6 years to find Randy Burke, Master Stylist.

Now I know some of you might be thinking, Shan, what does this have to do with Naples real estate?  Hey, if you're happy living in Naples...then it's good for real estate.

So here's my experience with Randy and this is why he gets my Best Naples Stylist vote:

The first time I saw him, my hair was in complete disarray.  We're talking total tragedy.  About a year and half ago, I finally decided to let go of my stylist because she was charging ridiculous money but more so than that, she was keeping me in the chair WAY TOO LONG...so I moved on....

First girl, totally fried my hair...AWESOME

Second girl did exactly what I asked her not to do two days before a presentation I gave in front of 150 people...fabulous.

Next girl, too inexperienced and then she moved making drive time too much of an inconvenience.

By now, I was pretty sure the only remedy was to go Britney Spears:

Was I really going to have to shave off all my hair to get it right again?  The answer...Randy Burke.

One of my buddies at the office one day asked, "what's the deal with the hat...you going for a new brand"?  NO, I replied, I have hair drama.  He just looked at me, picked up the phone and dialed - 239-248-7932, his brother, Randy Burke's phone number.

The next thing I know, I'm front and center with Randy Burke.  Can I tell you, he was the nicest guy and listened intently when I went over my experience.  I could read his thoughts in his face while I told my story.  It wasn't...oh my gosh lady you're boring me to tears, it was more like, honey, I got this handled, it's no big deal for me....and he did.  I walked in looking like:

and out looking like:

Ok, without bangs.

But it goes further than that, this guy is a genuine service provider and not just about hair.  He will tell you all of his super secret tips from beauty stuff to cool places to visit and check out on the east coast.

More so than that, he has the brightest soul.  Instead of that backstabbing negative chatter you hear between hairdressers, he's positive, upbeat, enthusiastic and the love that he has for his career can almost make you envious.  He's been cutting hair since he was...are you ready....16 years old but he has the passion for his job as if he just started yesterday.

So why am I telling you all of this since most smart girls don't give out this kind of information for fear of never being able to get another appointment again?  We made a deal.  I told him I would shout his praises with the understanding that he will never be too busy for me and I trust him since he agreed.  Plus, us smart people need to stick together.

So here are the top 10 reasons why you should give Randy Burke a try:

10.  He knows what he's doing...better than any other hair dresser I've been to.
9.  He is so nice and genuine, you can't wait to be around him because of his positive energy.
8.  He gives the ABSOLUTE BEST scalp massage I have ever had....absolutely toe curling.
7.  He charges a fair price.
6.  He knows his products better than anyone else.
5.  He won't push product on you that you don't need.
4.  He can do it all from cuts, color to fancy updo's for weddings.
3.  He goes so out of his way to accommodate you in every way.
2.  He has you in and on your way in a flash.
1.  His personality is the best.

Tell him I sent you.  I don't get anything for it but I want him to do well and if he tried to repay me I wouldn't accept it.  Besides, he'll share some of the best beauty secrets you'll ever hear.  Hey, he takes care of ALOT of people!

Give him a shout to set up your next appointment:  239-248-7932 or RandyBurke@gmail.com

Just as it has happens at the end of every season almost every year in Naples, Florida us Naples, Florida REALTORS  wave goodbye to our seasonal friends and neighbors who pack up and go north for the summer and we prepare to do those things that occupy our time which was once occupied by showings, open houses, writing contracts etc. 

Last year during the off season, I dedicated my time to catching up with my friends, hitting the beach but more strategically working on my Naples, Florida real estate website.  Then a tiny bit of fun travel and a couple of short business trips to help me perform as the Naples Smart Girl should....  Nearly the entire summer I worked on my Pelican Bay and Bay Colony web pages because I wanted to have the most comprehensive Pelican Bay and Bay Colony website around. 

Well, the term season is a tough term to describe.  But, I'll do my best...."season" to me can be described as the busy time of year starting the day that it gets so cold people pack up and come down here and leave til when it's safe or warm enough to go back....the end.  For those more calendar driven, high season can be described as January 1 til Easter....but don't forget pre-season which can be described as October 1 til December 31...which we don't always experience or post-season which is the day after Easter to about April 30...that's because sometimes Mother Nature just doesn't always recognize our holidays as the appropriate time to change.

This particular year Easter came early....boo for us who know a portion of our prospect base will use that date to detach from us in Naples, Florida.  Yae for the rest of the world as I suspect that might be another sign that your selling season is getting ready to kick into high gear.

Just like magic...or a bad nightmare...I noticed on April 14th my Naples, Florida real estate web traffic took a serious tumble.  HOLY COW!!  Did I lose a server, did Google blow me up?  Oh....sigh....it's the end of season.  As much as I'd hoped that all of that super traffic was here to stay considering that (for me) web traffic is an indicator of what's coming down the road in regards to real traffic 30 days to 45 days out....but nope, just a sign of reality...realty...reality...oh whatever.

BUT WAIT...

Just when I started having visions of all the things I'd be doing this summer to beef up my website, get some well needed and deserved rest...spend some much needed time with friends and family...hang on...what's this???

OH YAAAAAEEEE!  A new wave of Naples, Florida real estate traffic!  Yes, that is correct we haven't stopped for the year, Naples, Florida real estate was just shifting gears!  What gear are we in now? 

It seems as if we're hitting the mid price ranges in some communities and product that wasn't necessarily too super hot this season like $500,000 to 1,000,000 in Pelican Bay and single family home interest in Moorings, Park Shore....is starting to perk up.  Interesting!

Then we have some same interest continuing it's peek activity.  For example Bay Colony condo interest is still very active...it looks like condo/villa product only though...sorry single family Bay Colony homes.  Beach front traffic is still doing well too with a special serious influx and interest in Aria. 

So I just wanted to say thanks for keeping Naples, Florida on your interest radar even with the first sign of Spring.  It sure makes a Smart Girl Smile!

Here's the latest recap of Pelican Bay Naples, Florida including Bay Colony Naples, Florida.

Current Active Listings:  369

Average Market Time: 192 Days

Price Range:  $349,900 - $17,700,000

Product type: 

• 155 high rise
• 122 low rise
• 23 mid rise
• 28 single family
• 24 attached villa
• 17 detached villa

Current Pending Listings:  54

Price Range:  $390,000 - $6,500,000

Product type:

• 15 high rise
• 13 low rise
• 6 mid rise
• 8 single family
• 7 attached villa
• 5 detached villa

Closed Sales Year To Date:  68

Average difference between list and closed price:  92%

Price Range: $350,000 -  $9,350,000

Product type:

• 27 high rise
• 17 low rise
• 8 mid rise
• 8 single family
• 5 attached villa
• 3 detached villa

Rolling 12 month Average Sold Prices (as of today): 

• 0-12 months $1,359,544 (down 4%)
• 24-12 months $1,412,836 (unch)
• 36-24 months $1,406,540 (up 34%)
• 48-36 months $1,049,185 (baseline)

For more information regarding Pelican Bay or Bay Colony, contact me direct!

Shannon Lefevre, your Pelican Bay Smart Girl!

Those pesky condo docs!  Do you know what I'm talking about?  In some cases the paperwork in those docs if placed from end to end could reach Mars and back.  Why on earth are they so important and why on earth are we required by Florida law to deliver them to the buyer before closing?

The Answer:  Who cares why...we ARE required by law to deliver them to the buyer and the buyer has 3 days (or 15 days for new condominiums) to review them.

Well, who reads those stupid documents anyway?  I must admit.  I don't think everybody reads them but I do know that the smart people I work with DO read them or at least have their attorneys review them to makes sure the association is running the way it should and that they're making an intelligent purchase.

It's also the documentation to review to make sure you have the ability to use the property the way you intend.  For example:  Those documents explain how many pets you can have on the property, whether or not you can grill from your balcony, how often you can rent your unit and lots of other important facts.

So why is delivering a complete set of documents such a trying task if it's the law?  Shall we consider who's in charge of getting the documents to the buyer?  First there's the association....the people working the desk...do you think they really...really care if a few pages are missing.  I'll give you one guess.

Then there's the agents involved in the transaction.  Do you think they really, I mean REALLY care if the whole set is there?  Many do, some don't because who reads those things anyway right?  WRONG!

It's not uncommon to find out that there are incomplete pages.  It's sad but true.

In my experience there has only been one time when a buyer backed out after discovering the association had been mishandling funds and proved to be in complete disarray.  Specifically, my buyer had discovered that there was a great sum of money missing and due to the problem, condo owners were being greatly assessed to make up for the money that had been "misplaced" because there were repairs needed and of course, no money to complete them. 

It just so happened the buyer was also a great friend of mine.  Thanks to those docs., he was able to uncover the issue and back all the way out of that mess without being required to close and without losing his earnest money.  Talk about dodging a bullet!

There was another time when I duked it out with a very LARGE homeowners association because they had not given me a full set of documents.  I'll never forget that day because several members from the association kept insisting that they had given me everything I "needed" and that I was the only one who disagreed and they had closed several hundreds of transactions that same year and I was basically the only agent protesting and I was crazy for continuing the conversation.

I FELT SO STUPID!  But, I stood my ground and basically said, I will not leave this building until I have all of the documents so you can find them or not but when it comes time for you to go home tonight, I will still be here waiting. 

ALL OF THOSE PEOPLE WERE SO MAD AT ME!  They took turns coming up to the front and pleading with me that I had everything I needed. 

I held firm.

While sitting there I thought about all of the properties I knew that had closed recently in that development and the agents who were involved in those transaction many of which I knew were very successful and reputable.  I started to question if I was causing a lot of unnecessary drama and what repercussions there would be for creating such a sour taste in everyone's mouth at the association.  My reputation for being a great agent and someone any of those people would want to deal with was going down the drain.

Finally, an hour and a half later one of those people came forward with the remaining documents I needed to deliver to the buyer. I still wondered if I had done more damage than necessary.  After-all, my seller would've wanted me to do a good job for them but they also would've frowned on making enemies for unnecessary reasons.  After-all, the buyer LOVED the house and they were "most definitely" buying the house anyway....or so it seemed at the time.

Funny thing is, a couple of weeks passed and signs of a cooling market had started to take place.  That along with hurricane threats are possibly what spurred the next turn of events.  The buyers wanted out of the contract.

They sent a letter from their attorney stating they wanted to extend closing 60 days or they would back out of the deal.  After speaking with my seller, we said no.

Then the buyer's said they had an "out" if we didn't allow them to extend.  The seller's attorney called me and reinstated the fact that they "probably had an out".  Again, I stayed firm.  No, they don't have an out, I confirmed.

After explaining my position with the seller's attorney and the drama that had gone on that day at the association, he told the seller on the other end of the conference call that the buyer in fact, had "no out" and if they wanted out, we would have rights to the $100,000 deposit.

Closing took place 2 days before a hurricane hit our area. 

Needless to say, those pesky condo and homeowner documents are in fact required by law and with that, you will receive them.  Even if the other agent doesn't want to assist and even if the homeowners association wants to make me feel like a moron.  It's what smart agents do to keep the deal going in the appropriate direction regardless of whether they're working for the buyer or the seller.

You should know it is your (the buyer's) right to use whoever you wish to loan you the money on the property you are attempting to purchase BUT just because out of area lenders "can" loan you the money, does not mean they are well versed on the terms of the agreement you signed.

In fact, it's not unusual that not only are they unfamiliar with the terms of your agreement they also don't ALWAYS read the terms of your agreement even though they have your contract on file.

Sound weird? 

Here's an example.  Under some promulgated forms across the country there can be clauses that read something to the effect of an additional time frame allowed for closing to clear lender required obligations etc. 

Under the Naples Area Board Of REALTORS sales contract, there is no clause of this nature.  Meaning...your lender must have all of their obligations met in order to close the transaction on or before the date described in the contract.  PERIOD.

A reputable local lender knows this to be true and will always perform to that obligation or at least alert the buyer and/or buyer's agent that there may be a problem with the understanding of the repercussions that could exist. 

An out of area lender may know this to be true provided they read your contract but...every once in awhile there's a BAD ASSUMPTION that clause for the extended timeline "must" exist...which as we now all know....now....it does not.

So for those of you thinking...hmmm...well Shan, how bad could it be???? 

Well, if closing does not take place on or before the closing date, the seller has the right to terminate the contract and all deposits made shall be paid to the SELLER for liquidated damages due to lack of performance of the buyer.

This doesn't mean that this will happen...this means that it COULD happen at the sole discretion of the seller.

Now...with that said, do you want to leave the decision of where your earnest money ends up to the seller should the deal go south or would you like to have a better handle on the transaction? 

There are times when the seller has a good heart and agrees to extend closing.  I've seen it even in hot markets although the actions of the seller should be considered generous. When the market is hot this becomes even more of a problem because buyers are a dime a dozen.  When the market is cool...it can become less of an issue for fear that another buyer is not within close reach but it should never be assumed. 

There are times when I can call your out of town lender and catch them up to speed about the fact that they could be putting you (the buyer) in the position of quite possibly forfeiting your deposit for you and with that little chat...they can sometimes pull it together for you so that doesn't happen.

It's all about amicable communication when it gets to this point provided the lender returns my call promptly which doesn't always happen.

The good news is, should you find yourself in this position during my watch...I'll do what I can to assist you.

The better news is: Although it is comfortable to work with someone you already know, sometimes it wiser to go with someone who knows the art of the deal more so than you personally.

I have a great lender.  He's never let me down.  I'm happy to share his name and number with anyone I'm working with.

Now for all of my out of area lender friends out there.  This is not a lender bashing post.  This is not a post to say that anyone working outside of Naples is miserable and unworthy of working loans within Naples. So please don't be offended as this is not a personal attack on you, your colleagues or your industry.  Heaven knows there are plenty of agents within your state and way out of your market who would be happy to help you buy and sell and who are absolutely not the right person for the job of doing so. 

That's why you'll find the people in both industries taking on only what they can provide an exceptional service doing.

Bay Colony Naples, Florida has experienced quite a flurry of activity lately!  So much in fact that when clients from Canada were ready to go, there wasn't anything on the floors they were interested in the two high rises they most wanted which were Salerno at Bay Colony and Toscana at Bay Colony. 

Since I'm not good at waiting around very long, I with the approval of my clients, sent out a letter to all of the Toscana and Salerno condo owners who owned units on the prescribed floors looking for a possible match for my clients.

I was surprised with the response.  I received an email from a very nice lady and a few calls from people who were curious to know if I had a real buyer or if I was just fishing for listings.  I spoke with several really nice people who were "mildly at best" interested in selling their unit but perhaps were more curious to know what I had up my sleeve.

I guess what's really funny about the whole thing is that I had made an attempt to write a letter with specific information about my clients in an effort to sound like I had a credible buyer. 

Here's what I wrote:

Hello.  I have a client who is interested in purchasing a unit in Toscana or Salerno. They just  missed out on a couple of units that sold quickly and now there isn't anything on the market with the type of view they require.

They prefer a unit on floors 7 through 12 because they want a good view of the Gulf but he has a little bit of a height issue.  They are willing to consider floors 5,6,13,14,15,16 and 17. 

They are very motivated and ready to go.  This unit they are in search of can come included with furniture but it is not a necessity.  Although they would like to close sooner more so than later, they are not opposed to an extended closing.  They are already qualified and will be paying if not all cash, at least a very sizable down payment. 

These people have been a joy to be associated with and the remainder of the owners in your building will enjoy their new neighbors for sure even though they are not currently planning on being full time residents.

If you have an interest in selling your unit, could you please contact me at your earliest convenience.

                       Sincerely,

                             Shannon Lefevre, PA

          P.S.  They found me from my website. www.BayColony.com If you haven't seen it yet, you should take a peek!

And yes, me being the goof that I am included floor 13 which of course as we all know there isn't a 13th floor in most buildings at least here in the United States....I stand corrected.

Fortunately, a unit on the 12th floor was listed in Salerno just a few short days later and we have successfully put it under contract.

The moral of this post:  I'm not going to send a letter to anyone stating I have a fake buyer.  If you receive a letter from me, it is real.  Just as if you ask me a question, you will get a real answer and if I have a listing you will get real information regarding the listing.  Life's too short to try to keep up with lies and no deal is worth losing my license.  You can depend on me to be credible, intelligent and real.

That's why Google chooses me to be your Naples Smart Girl! :)