Naples Florida Real Estate: June 2008

As my close followers know...I study my website hits constantly.  Oh, I am ridiculously addicted to wanting to know who's looking at what page and how they're finding my site, what keywords they're using, which search engines, how long they're surfing around.  I just think it is so interesting.  It also helps me understand what's on prospective buyers minds. 

What's even more interesting is the bits of information I've been able to pick up along the road.  I have a few people I know who are watching the market closely and I can tell when they've been checking stuff out because they've told me where they live and I'll either see the hit from that city or sometimes I can tell by the fact that they use the same keyword over and over again. 

Then there are those people I haven't had the pleasure meeting but again, they give me a tiny bit of information or they frequent my site often enough for me to see the trend.

Lately I've noticed alot of personal search terms are being used.  When I mean personal, I mean specific terms used that tell me that not only are they looking for Naples real estate, they're looking for me.

It's not that hard, here's a list:

• Shannon Lefevre
• Shannon Lefevre Naples Condos
• Lefevre Naples
• Pelican Marsh Smart Girl...who ever came up with that one was BRILLIANT...I LOVE IT!
• Shannon Lefevre Blog...isn't that cool???
• Smart Girl Naples

I can't help but smile wide when I see terms like those...it's almost like a pat on the back...or a hey, you're doing a good job.

Anyway, I've noticed lately that when a few of those people type those kinds of search terms in, they're not staying very long.  Sometimes 20 seconds or less.... :(

HEY!  What's going on here? 

• Did you get busy?
• Side tracked?
• Bored?
• Tired?
• Did your power go out?

What happened?  Dontcha like me more than that...am I not supplying you with the Naples, Florida information you came for???

or

Are you just checking in to see if I'm still in the business?

Well....dang it, I AM still in the business and if you're going to go through all of the trouble to pull up my Naples Florida real estate website, you might as well hang out for awhile and check out some homes or I dunno read up on some community information.  Those extra pages you look at sure bring a smile to my face.  It makes me think there's people out there who still want Naples even though this is the time of year when Naples really isn't at the top of many people's  list of things they probably think about. So show some love!  Show me those page views! :)

Oh, and if by chance you're not seeing what you want to see, hey...just let me know.  I've been known to add stuff to my site within minutes of requests and sometimes it's the only way I know you're looking for whatever it is you're looking for.

 And for the rest of you who are checking out my site and allowing me to assist you with your Naples real estate, THANK YOU!  Because of you I can keep making improvements to it!

Best Regards,

Your Naples Smart Girl!

When working through real estate transactions it pays to look past today and think ahead a little bit to insure a successful and happy closing for all parties involved:

For example:

I recently had a Naples condo under contract.  Because there were tenants in place the buyer (my client) wanted to do the inspections closer to the end due to the fact that she wanted to make sure everything was going to remain in as close to the condition at the time of inspection as possible.  That term was accepted by the seller so it worked out.

A few days before the inspection I reviewed the contract timeline and realized if any inspection items were to come up, technically the seller would probably have one business day to handle all repairs which is possible to do in Naples but improbable as well. 

I called my client and told her all of the scenarios that could possibly arise if in fact there were inspection issues even though the other side was quite certain there would be nothing wrong on the inspection report.  

After going through the possible options with the buyer, I contacted the title company to discuss some options with escrowing money for possible repair items.  The title lady (who I adore) got quite anxious and explained that the seller was already having to come to the table with a sizeable amount of money that was apparently unexpected by the seller.  I minimized her anxiety as this was just not in my mind that big of a deal.  At this point we're dealing with unknown variables and it was just far too soon to pull the fire alarm.  She also explained that the seller was signing his paperwork 5 days before closing and leaving the following day to go out of the country....oh....cool....the plot thickens.

Still remaining calm, I explained to the title lady, it's not a big deal til it is.  I doubt there will be a problem but I'll keep you posted.

Next call was to the listing agent.  After explaining the run down of what could occur, she went on to tell me about the seller having to bring unexpected money to the table.  Well, sorry about that...anyway here's what can happen next.  She went further to explain that she was pretty sure there was nothing wrong with the unit.  Man, I hate telling other people how to do their job but I'd rather be of critical assistance than let something bad go down so I explained it to her like this. 

I know you've been in the business a long time as have I.  This is my 12th year and during those 12 years, I've seen 2 completely clean inspection reports.  I doubt seriously this one is going to make 3.  Here's the deal, your guy is signing early and then he's taking off out of the country.  You need to make sure, he has additional money ready to be wired or waiting at the title company if in fact anything is wrong...the end.  If you don't tell him, he won't be prepared and the news of not closing is going to be far worse for him than the fact that he's bringing money to the table to make his condo go away.

She wasn't convinced.

I reworded the first paragraph and said it again.

She still wasn't convinced.

I reworded the second paragraph and said it again.

By now, she had that same tone in her voice a kid does when you tell them how important it is for them to do their homework or eat carrots or something equally unexciting to do but she agreed to make the call.

The inspection was completed and guess what!

I still have 2 perfect inspection reports in my real estate history.

The good news is, everybody was already well aware of the options and negotiating through repairs and values was perhaps the easiest part of the transaction.

Had I not thought ahead, that seller would've signed his paperwork, hopped on that plane out of the states and the rest of us would've been up a creek.

Fortunately instead, the transaction closed, the buyer is a very happy new Old Naples condo owner and the seller got his wish...that condo off his books and out of his hair.

As for that other real estate agent and I...we both got a paycheck and a giggle at the end.  About a week had passed since we had closed and I thought to myself, I should give her a call for old times sake.

When she answered the phone I said, "hey, it's been a week...you miss me yet"?  She laughed, I thanked her for working with me and wished her well as did she.

ALWAYS THINK AHEAD!

Best Regards,

Your Naples Smart Girl!

There are 320 active listings in Pelican Bay.  That's just about 1.5 years of inventory. 

The lowest priced listing is offered for $350,000 for a two bedroom, two bath condo in Laurel Oaks at Pelican Bay.  $350,000 seems to be the magic low number to get an offer or at least it has been for the three other units that were priced the same which sold soon after.

The highest priced listing is offered for $17,700,000 located at The Strand at Bay Colony.  It's clearly the most magnificent home existing in the area and if you have the means to purchase something of this magnitude, you're cheating yourself if you don't at least take a peek.

There are 48 properties in Pelican Bay pending contract.  26 of those homes were listed under 1,000,000 and 22 of those homes are listed for 1,000,000+ with the highest priced property currently under contract located on the beach in Bay Colony at The Windsor at Bay Colony.  That unit was really amazing...one of my all time favorite properties I showed this year.

Average market time for all Pelican Bay listings is lengthy...coming in at 193 days. 

Average sales price is 91% of list price so as you can see, although it is possible to get a screaming deal in Pelican Bay...many Pelican Bay owners are getting pretty close to their asking price or they're simply not selling. 

Don't let this discourage you though.  I just put a property under contract in Pelican Bay a month or so ago which is set to close July 1.  It was an unbelievable deal and when I mean unbelievable, I mean...when the agent said we got it I thought...dang...I should've done that myself!

What's Hot:

Barrington at Pelican Bay only has one listing available.  It's only been on the market for 6 days.  The other two sold earlier this year.

Beauville at Pelican Bay only has one listing available.  It's been on for quite awhile it needs work but that is definitely reflected in the price.

Brighton at Bay Colony has two listings available.  Three have closed already this year and one is currently under contract.

Cannes at Pelican Bay is currently sold out.

Carlton Place at Pelican Bay is currently sold out.

Carlysle at Bay Colony has one left, the other closed earlier this year.

Cocobay at Pelican Bay is currently sold out.

Crescent at Pelican Bay had great activity with their lower priced units.  The 5 lowest priced units are either pending or closed making the next in line available coming in at $850,000.  Also the most expensive unit at the Crescent listed for $1,975,000 has also closed.

Georgetown at Pelican Bay only has one home available.  There are two homes that have closed in there this year and one is currently pending.

Hyde Park at Pelican Bay has two left.  Here's something interesting...the two most expensive units in Hyde Park have sold leaving the two least expensive units available.

Isle Verde at Pelican Bay is currently sold out.

Las Brisas at Pelican Bay only has two homes left.  2 are pending, 2 have closed already this year.

Mansion La Palma is currently sold out.

Marquesa at Bay Colony has one left, the other is currently pending.

 Oakmont at Pelican Bay has 4 left, there are currently two pending and two have closed already this year.

Pelican Bay Woods has 4 left with 4 homes that have closed already this year.

Salerno at Bay Colony has two available, one is pending the other has closed already this year.

Sanctuary at Pelican Bay has two left.  There are 4 that have closed there this year.

St. Andrews at Pelican Bay has one left.  The other is pending.

St Tropez at Pelican Bay is currently sold out.

Toscana at Bay Colony has one unit left.  The other 4 sold earlier this year.

Villa Coronado at Pelican Bay is currently sold out.

Villa La Palma at Bay Colony is currently sold out.

Village at Pelican Bay has two left.  The other two have sold.

Vizcaya at Bay Colony is currently sold out.

Waterford at Pelican Bay is currently sold out.

Windsor at Bay Colony has one left.  There is currently one pending contract and the other has sold.

If you didn't find the Pelican Bay community you were looking for in my report it's because it didn't make the "What's Hot" list.  Don't fret, you can access all Pelican Bay Communities through my website.

What does the future hold for Pelican Bay?  Time will tell for sure.  I do find it curious that we've seen a slight dip in sales.  By the end of May last year there were 126 sales.  By the end of May this year there were only 98.  You'll want to use this in your negotiations if you're thinking about purchasing but remember, while some Pelican Bay homeowners are really interested in selling, others are really interested in getting their price so don't forget to work with a Smart Girl who can help you find the right one for you.

Best Regards,

Your Pelican Bay Smart Girl!

Then you must make a stop at Rug Decor located at 8002 Mediterranean Dr. Estero Florida.  This store is quite simply a terrific rug shopping experience!

Here's how it went for me:

My husband and I still burdened with the task of completing our newly remodeled home are in the process of making our final selections in decor.  For whatever reason, the rugs have been a hard task for me.  I don't really know why, but it probably has something to do with the fact that rugs can either really make or break a look you're going after.

We were actually on our way to another store located in the Coconut Point Mall when Jerry spotted Rug Decor and said, hey, let's go in there.  I didn't want to because I knew it was going to be one of those places that have ugly rug stock...not interested.  He parked and as we walked towards the door I complained about wasting time in a store where I knew I wouldn't buy anything.  He, on his mission closed his ears and escorted me through the door.

To my surprise there was a HUGE selection of rugs.  I mean not just those ugly old oriental rugs but rugs of every shape, size, color, style, texture and material.  Now I cannot say that Rick Ruby had me at hello because trust me, when I want to be skeptical...I am usually a tough if not impossible sale.  

I am a power shopper by design and do most of my shopping at a steady sprint through a store.  In fact when I'm shopping with my counterpart we typically will walk in together and then I find myself hovering at the front door waiting for slow poke to get done doing his browsing.  Then I am usually motioned to come look at something that he is sure I missed.  Most of the time, I saw it and wasn't interested but every once in awhile...he makes a worthy mention.

Rick was a friendly man.  He has a kind face and asks politely if he can be of assistance but he's not one of those people who's overly aggressive or tragically passive which is most of what we see in retail sales people today.  He strikes up a conversation with Jerry and before you know it we're talking about buying a rug.  One of the things I hate about buying rugs is the fact that it's cumbersome.  I don't trust myself enough to place a blind custom order because I guess I'm not trained enough to do so confidently. 

The more we talked about this rug, the more useful information Rick shared with us about it...making the whole process sound a lot easier than I thought it would be.  Starting with a, well there's a sale and we'll take off this amount and if you don't like it you can bring it back.  I'm hardly good at trying stuff on and I'm even worse at buying stuff I might have to take back.  Perhaps it's a level of commitment I don't want to have to give...

Regardless, Rick's attitude ROCKED and he sold us a rug.

When we got it home...Jerry put it in place and after a few seconds I said, yeah, I don't like it.  He didn't say anything, we left it there, woke up the next morning and he agreed by saying, yeah, I don't like it either. 

DAMMIT!  Now we have to go "all the way" back to Coconut Point and return it.  Oh well, it's not that big of a deal.

So, we returned the rug.  Rick was there ready to take the rug back and was just as friendly and mild mannered as he was the day before.  I took another power look around and had fully decided we would not be buying a rug just yet.  I think Rick could sense that my motivation had not only faded fast but that I had completely turned off the rug purchase button in my head.  He kept the conversation going still describing interesting points about some of the inventory he had in stock without being too aggressive.  He showed us more samples and offered ideas on some custom options which I thought I had zero interest in and then he showed me another rug sample that was absolutely AWESOME. 

The price was good, his pitch was excellent and the next thing I know, we're walking out with a sample that I KNOW I will have to return the following day but this time...the commitment was ok.  See, that Rick Ruby guy is in fact an OUTSTANDING sales guy.  He was patient and helpful, courteous and smart. 

As we were walking out of the store I thought to myself...damn...I wish I would've bought the other rugs I have in my house from him...he is a really neat guy.  Then I thought...well let's see I need a rug there and I could use a rug over there...I MEAN, I realized I was trying to figure out how I could give him as much business as I possibly could. 

I find myself drawn to take care of the people who take care of me and let me tell you, if it is a rug that you need. Rick Ruby at Rug Decor is your guy.  In fact, all of the people at Rug Decor were the same cheerful, helpful way.  Solid, grade A people...a very unusual and exceptional shopping experience.

Now you may think, well that's great for you Shannon but I don't live anywhere close to Estero, Florida.  That's ok, he can ship your rugs to you.  You will be happy with the level of service they provide in fact, here's his mission:

To provide the finest customer service in everything we do, and to sell quality products at a great value, while EXCEEDING our customers' expectations.

If we have fallen short of this mission in any way, please let me know about it.  Rick Buy, owner

515-365-1139 rruby@randq.com

Yes folks, that is his cel phone number and his personal email address.  Someone who puts that information on the back of their business card is not concerned about getting a lot of complaints because he already knows he is performing to his mission.

Need a rug?  Call Rick Ruby! 

Best Regards,

Your Naples Smart Girl!

When we're working with the seller, hey, at least we know where they live.  But, let's talk about the buyer for a minute.  How many of us "know who our buyer is"?  When I sold real estate in Texas, there wasn't really any hocus pocus that went down but when I moved to Naples, at least initially it was a different story...at least it was for me.

My first BS episode in Naples was with a colleague of mine who had been selling real estate a short while longer in Naples than I but who figured out that although I was new to the Naples market, I had been around the real estate game long enough so he called me in on what looked like a pretty big deal.

Keep in mind I'd been in Naples for all of 3 or so months so I really didn't have my feet wet yet.  Anyway, the deal began with a call into the office which he took.  She (the buyer) wanted to purchase a very expensive condo.  He felt like he was out of his league so he called me.  Although I felt out of my league I did feel better equipped to handle anything provided given the opportunity. 

Starry eyed...admittedly and hesitantly I took the ball running.  I didn't know for sure if she was for real but since she wasn't in town and didn't want to actually see anything I didn't think there would be any harm done if I pushed her up the flag pole as fast as I could to see if anything could come of it.  For those of you who don't know what I mean...what I mean is..without wasting alot of time I wanted to see if I could get enough info to her to encourage her to write a contract. 

In my mind I thought if she was full of you know what, then I could push her to contract and see if she could perform.  Without the insight from a broker who had experience in this type of situation it was really the blind leading the blind here.

We performed by providing the information she was interested in.  Fortunately the property of interest was a vacant, gated and guarded condo so that left little to no unwanted drama from happening.  Needless to say it took less than two weeks before she was required to sign on the dotted line which she of course did not and that mysterious possibility flaked out in less than no time without serious repercussion or backlash for the listing agent on the seller's behalf or us as the buyer's representative in regards to our reputation in the real estate market.

While I was at that company no less than 4 more experiences similar to that took place. Complete BS but interesting enough to consider to a point...without much direction of how to handle the scenarios.  At least for me they were short diversions without any credibility destroying circumstances or worse yet consequences.

Interestingly enough two of those circumstances happened with the same property.  The first was when the seller was a for sale by owner.  Fortunately for me, the seller was a very savvy business person who was able to give me some great information to figure out the validity of the buyer.  Granted, this would've been excellent information to receive from my broker considering the fact that I was supposed to be the expert...but this wasn't the first time I had to go elsewhere for education.  By the time the second incident came,  I was better versed and was able to alert the seller that someone without means was attempting to get into his home for some unforeseen reason which by the way under my watch never took place.

Today, I am fully equipped to determine whether or not to show or not show a house or condo.  If you don't feel the same, get educated.  PERIOD.  If your broker doesn't know how to deal with scenarios like this then find out by other means.  Fortunately for us REALTORS today we have more tools provided to us than I did when I first got started.  

We should be responsible for what happens.  Regardless of whether we are or whether we are not responsible or legally liable, we should take the necessary steps to know who we are dealing with at all costs and measures.

Protect your clients, Protect yourselves, Protect your industry.

By they way, if you are considering selling your personal real estate, this might be a question for you to ask your agent.  Do you know how to screen buyers?

Best Regards,

Your Naples Smart Girl!

Here's a question asked by a fellow "Rainer" in an email to me today:

Hey Shannon.. my name is **** and I am with ***  in **, **. I have seen your blogs and stories and thought I would ask a question if you don't mind. We here in ** have turned what we hope is the worst of the sub-prime mess we have been in.... what about you down in the South? Has the market improved and would you consider your area a good place to relocate to and practice Real Estate? Thanks for your time.. I appreciate it and if you get a moment.. let me know your thoughts. Take care, ***

Here's my answer:

Although Naples has seen an increase in sales since January 1, 2008 compared to last year, it is not what I could call a healthy market.  We are appreciating in a handful of areas, we have seen some depreciation in most areas and we are stable in a few areas. 

There is no evidence that proves we have hit bottom yet and personally I doubt that we have.  I do see higher levels of buyer traffic who are in fact buying and I'm seeing decreasing levels of skepticism from buyers.  I am seeing more investor driven traffic compared to this time last year.  I will even venture to say that Naples, Florida real estate consumer attitudes have grown more positive at least on the buyer side.  I have also been involved in competing offers as of late which is usually a great sign although I think the properties were priced exceptionally well and offered something super special which created the additional traffic.  

On the selling side...some seller's have gotten realistic some haven't and some are still on the market and could care less if they sell or not.  Approximately 50% of the homes and condos I deal with are vacant for half the year so it is not a burden for someone to remain listed for a great deal of time.

Please understand that the majority of my sphere of influence and people I directly deal with are people who are discussing real estate close to the beach (west of Tamiami Trail).  

With that said, if you are looking for a market where buyers are scrambling over each other to write offers and listings last for hours not months or years, Naples, Florida is not your market.  It will take a great strategy to attract the attention of the buyers who are looking right now and you really need to know your stuff!  Buyers who are attracted to this market expect expert advice.  If you can't deliver it, they'll figure it out quickly and will not hesitate to move on to an agent who will deliver a better service.  Be prepared to spend a great deal of time getting to know the market you will be focusing on if you want to be successful here.

If you are looking for a market where it is relatively easy to break in and find a niche to hit the ground running, Naples, Florida is not your market.  You've heard of the saying, there's an agent on every block, there are 10 agents on every block here.  It took me 5 years to find a true niche.  That's 5 years working most days many of which were 10-14 hour days.

Listings right now are a dime a dozen and can still be very difficult to obtain unless you have some sort of contact base or niche.  Even the over priced listings can be difficult to get and who wants those anyway?  Be prepared to brand yourself quickly and spend a great deal of money on marketing and advertising as Naples, Florida sellers still expect you to do alot of print marketing despite the results.  You will also want to brush up on your best open house skills because you will be expected to do them if those listing are in prime areas.

If you're looking for a truly fabulous most beautiful place to sell real estate, where it is sunny and 70-80 in the winter time and humid/rainy every day in the summer time and the majority of the people you will come across are absolutely AWESOME...Naples, Florida may be for you.  Be ready to get the butt-kicking experience of your life and be prepared to get down and dirty for a few years before it pays off!

I knew it was going to be hard when I moved here.  I HAD NO IDEA HOW HARD until I moved here. 

Today, Naples is my home.  I can't imagine and wouldn't imagine living or selling real estate anywhere else so in my mind it was a brutal, long ride but still a small price to pay.  It was hard but I put the time in and I succeeded.

If you're ready to put the same effort in, Naples, Florida will welcome you as a real estate agent or broker once you've paid your dues.

What's it worth to ya?

Best Regards,

Your Naples Smart Girl!

PS~ If you decide to give it a shot, give me a call.  I'll be happy to help any way I can! :)