Naples Florida Real Estate

For those of you who don't know, Naples Florida is widely considered a luxury location and although not every area is expensive, some Naples golf communities and most Naples beach communities are expensive and considered luxurious locations.  Although Naples proper isn't considered massive in size, Collier County is quite large and for one to consider themselves an expert for the entire county is simply unrealistic and here's why:

There are currently:

• 8,992 active listings in Collier County
• 976 active with contingency contracts in Collier County
• 840 pending properties in Collier County
• 61,386 closings in Collier County (provided in MLS)
• 22,486 terminated listings in Collier County
• 50,416 expired listings in Collier County
• 724 withdrawn listings in Collier County

Being a specialist means knowing your trade!  That means the agent is familiar with much of the inventory and possess a great working knowledge of current property values, negotiating trends and maybe even have a solid network of other Realtors or vendors who are also familiar with the area as well and who can help assist with details and/or negotiations on contracts. 

How valuable is the agent who specializes nowhere but goes where ever the buyer and or seller may take them?  Not much...that's why you'll find the most successful Realtors in Naples do not go everywhere.  The most successful agents work just a handful of areas because they know those areas very well and can provide a real service to their buyers and sellers.

Typically you'll find Naples luxury Realtors do most of their business west of Tamiami Trail (that's the main corridor that lines the beach) although it isn't uncommon to find some experts who specialize in one neighborhood and that is ALL they service. There are also a handful of agents who have chosen specific Naples golf communities off the beach corridor as their area of specialization.  It's a choice they make to insure they have the knowledge and expertise to be the best.  Most buyers want to work with the best therefore there is a very strategic plan and sometimes expensive price to pay when agents determine a finite market and go after it while passing up on business in other locations.

This brings me to the interesting conversation I had with someone today about Realtors and consumer perception.

He was telling me a story about how he had a seller he needed to refer to one of his Realtor clients.  He picked Realtor "B" because...I am less than 2 weeks away from having a baby and because Realtor "C" said, "she doesn't work that area"....as he rolls his eyes.  I asked him if he knew why she said that because what he thought and what she was really saying were two different things.  He told me he thought she must think "she's above" working that price range...

Here's what I said next.  This isn't a matter of being "above" anything.  Realtor "C" specializes in a completely different market and for her to accept business in a market she doesn't know means she needs to either learn it so she can be of SERVICE (which can take a good amount of time) or be an idiot and not provide a great service.  She could've easily said, sure...and then performed a crappy job for his client.

Us Realtors see this EVERYDAY and believe it or not, some of us have made a conscious decision to be part of the solution!

Buyers do not want to work with agents who do not know what they're showing and do not know how to negotiate.

Sellers do not want to list their homes with agents who do not know how to sell it and do not have the network of people to help them do it.

So the next time you hear a Realtor say, "I'd love to help you out with that but I'm not the one for the job....

• THANK THEM for having the business acumen to refer you to someone who really is a specialist for what you want.
  
• THANK THEM for not being greedy by putting their visions of paychecks ahead of your best interests.
  
• THANK THEM for being honest. 

On the flip side of that the next time you ask an agent if they cover the whole State in which they have their license...their license may go that far but the intelligence doesn't.  If you want to hire a Jack Of All Trades...well...You'll Get A Master At None!

Best Regards,

Your Naples Smart Girl!

On June 19th I wrote about the possibility of Collier county commissioners voting in mandatory code inspections for foreclosed homes.  You can read about the past post here.  Needless to say, there was a standing room only turnout for that meeting with 37 people scheduled to debate the proposed ordinance.  Not only were Realtors present but members of the Collier Building Industry Association were there as well. 

The good news is the commissioners are allowing NABOR and CBIA to come back in September with a proposed solution because they did not vote in the current proposal.

This should also be considered as a nice little window of opportunity for banks and investors who are dragging their heels about accepting offers on foreclosed properties.  I firmly believe some sort of ordinance will pass which will ultimately mean more cost to those banks and investors when selling.  Now, they've all been fair warned and have real time to resolve their issues, get those properties moved before the ordinance goes in place.  If they still snooze...well...I don't think they're going to get much sympathy now that they this extra time.

The concept behind the ordinance is great...how the ordinance was written and feared to be passed was horrible.  You can read more about the details here.

Best Regards,

Your Naples Smart Girl

Big decisions may be determined regarding Clam Bay, the body of water one might describe as the inter-coastal shared between Pelican Bay and Seagate:

While Pelican Bay has been a huge advocate for protecting and preserving the natural sanctuary of Clam Bay and touting tranquil kayaking and canoeing to their members as part of the membership amenities offered through Pelican Bay, the neighboring community, Seagate, has different interests...which are pretty easy to understand after taking a closer look:

Seagate is home to nearly 80 home-sites offering waterfront but really no navigability to the Gulf of Mexico...BUT...

If Seagate gets their wish on Tuesday, not only will those new navigational markers go up but they are also crossing fingers for dredging a four foot deep channel in Outer Clam Bay which could open those waters up and allow those properties to appreciate almost over night since they'll then be able to market and sell those homes as true Gulf access properties. This wouldn't necessarily be a bad thing either considering some of the homes in this little area need some attention.

Seagate isn't the only neighborhood who could benefit.  8 condo and villa communities in Naples Cay may also see some benefit.  Those are:

• Baypointe (High-rise)
  
• Beach House (High-rise)
  
• Club at Naples Cay (High-rise)
  
• Sea House (Mid-rise)
  
• Seapoint (High-rise)
  
• Seasons at Naples Cay (High-rise)
  
• Villas Raphael (Villas)
  
• Westshore (High-rise)

I could be all wrong here but what County Commissioner is going to turn down a project that is going to ultimately bring more tax dollars to the table?  We all know when property values go up, taxable dollars go up and in a county where they're trying to creatively figure out how to meet budget demands...

If you're interested in learning more about Pelican Bay, Seagate or Naples Cay, contact me direct!

Best Regards,

Your Naples Smart Girl!

If you're up to speed on Naples real estate you may already know Collier County Commissioners are preparing to vote/pass a mandatory inspection requirement on foreclosed properties.  You can read more about the possible Mandatory Inspection Ordinance if you're unfamiliar.  Although I don't quite agree with the position the Naples Areal Board of REALTORS holds, I do suggest the commissioners take their time on this possible ordinance.

There's rumors the commissioners may expand the ordinance to include all properties and other alarming attributes.  A few concerns I have regarding this issue is the fact that the inspection ordinance will only cover a few points about the property and buyers will mistakenly assume that they're getting a full inspection which is incorrect.  The second thing that bothers me is although they may create a few government inspector jobs...with the perceived value of the new inspection they could also be screwing over the other inspectors in the area.  The other factor is that they are in no way shape or form prepared to handle the amount of inspections that need to be done which will cause delays and ultimately kill some deals...we really don't need any additional help with that. 

There are some good aspects to this possible ordinance if done correctly.  First and foremost...we have several lenders, investors and end user sellers who are dragging their feet about getting deals done and while time lapses the condition of the real estate deteriorates.  If an ordinace passes with any sort of a grace period...those folks better wake up and wake up fast to get their properties moved or many of them could face additional costs to unload that real estate.  I think it's an absolute sin how delayed some of these sales are and it just might put a little gig in their giddy up! :)

I have to admit I do enjoy some of the more astringent ordinances and codes that were passed in Collier County somewhere along the road.  It's one of the reasons why our town is as beautiful as it is and why we've been so fortunate to not have the same amount of damage from storms as some of our neighboring areas.  Naples has never been the least expensive place to purchase and I seriously doubt it ever will be.  I've had lots of potential customers choose other areas for that reason just as I've had a quite a few who purchased in Naples Florida for that reason as well.  We are not a "this area fits all" community but we hopefully are a "this area fits you well if you understand the value" community. 

If you're interested in attending the commissioners meeting it takes place at 1:30pm on the 3rd floor of the administrative building next to the Court House.  If you can't make the meeting you can send your commissioner an email!

Best Regards,

Your Naples Smart Girl!

Naples area schools get an A rating from Florida! This is exciting news for the Collier County school district and the parents who send their kids to school here! Here's the breakdown for Collier County:

In fact there's only one school in Collier County who received a non-passing grade.  Eden Park Elementary is located in Immokalee, Florida where 73% of the kids don't even speak English...in fact almost the entire town of Immokalee doesn't speak English.  This is where most of the migrant workers from the orange groves etc. work so anything other than a failing grade I would imagine is a COLOSAL achievement! Since we're talking about achievement and Immokalee...Immokalee High received a "D" and Immokalee Middle got a "C"...69% of that school is non-English...that's pretty impressive!

For more information regarding Naples area schools, you can refer to the Collier County School District website.  They have great zoning maps there so if you're considering a move to the Naples Florida area, you can check out the school's grade card and then also see what district you want to narrow your search for your home. 

If you're more interested in private schooling for your children, you might consider these Naples Florida private schools.

Best Regards,

Your Naples Smart Girl!
(oh...and no, I'm not a byproduct of Naples Florida schools...I grew up in Kansas...ok...enough with the ruby slipper jokes)  :)

It's been awhile since you've seen a Pelican Bay Naples Florida real estate update out of me so let's not dally any longer!

There are a whopping 378 active listings in Pelican Bay right now with the lowest priced property currently priced at only $285,000 located in Laurel Oaks at Pelican Bay (that is a steal) and the highest priced property priced at $14,900,000 located in the Strand at Bay Colony

Of the 378 Pelican Bay properties for sale there are: 

• 41 Pelican Bay single family homes
• 99 Pelican Bay low rise condos
• 25 Pelican Bay mid rise condos
• 183 Pelican Bay high rise condos
• 30 Pelican Bay attached and detached villas

There are currently 35 Pelican Bay properties pending with the lowest listed priced pending sale property listed at $270,000 (no brainer) located in Glencove at Pelican Bay and the highest priced pending sale rolling in at $5,795,000 in Bay Colony Shores

Of the 35 Pelican Bay properties currently pending there are:

• 5 Pelican Bay single family homes
• 15 Pelican Bay low rise condos
• 1 Pelican Bay mid rise condo
• 10 Pelican Bay high rise condos
• 4 Pelican Bay attached and detached villas

So far this year there have been a total of 105 Pelican Bay Sales with lowest priced sale selling for only $249,999 located in Laurel Oaks at Pelican Bay and the highest priced sale rolling in at a whopping $16,400,000 located in the Strand at Bay Colony once again!

Of the 105 Pelican Bay Sales there are:

• 10 Pelican Bay single family homes
• 33 Pelican Bay low rise condos
• 4 Pelican Bay mid rise condos
• 37 Pelican Bay high rise condos
• 21 Pelican Bay attached and detached villas

Obviously some segments of Pelican Bay are doing better than others with Pelican Bay villas leading the way in sales.  In fact there's barely a year of Pelican Bay villa inventory on the market right now!  Low rise condos aren't doing bad either but the biggest glut of inventory clearly falls in the high rise product in Pelican Bay.

Sellers:  If you're thinking about selling...choose your pricing very carefully.  Properties listed over $500,000 are not seeing near the traffic compared to properties priced below $500,000.  Be sure your properties are in the best possible condition as well.  Pelican Bay properties that are updated, clean and are priced well are clear winners while anything less can sit for a LONG time.  Most importantly, if you really don't care if you sell right now, either take your place off the market or wait a bit...

Buyers:  Your best negotiation will probably occur in the price ranges above the $500,000 price range but don't expect a heavy discount guarantee.  Market times on many of these listings will prove that sellers can and will hold out for their price.  There are already some great deal listed but do not expect to realize huge discounts off fair market value and rule but more of an exception.

For more information regarding Pelican Bay, contact me direct!

Best Regards,

Your Naples Smart Girl!

I remember the lazy days of real estate when I sold in a tiny little market in Granbury Texas.  Those were the days when the real estate market didn't change much and once you learned it...well you pretty much knew it...forever.  I loved those days when I knew nearly all of the market by heart and could blurt out market data off the top of my head with amazing accuracy...

The Naples Florida market is far from lazy.  Even in rough times it changes and when I mean changes...I mean in every direction from amount of inventory to pricing.  I feel like I've seen a complete market cycle now coming to Naples Florida when the market was slow after 9/11 and increasing in strength to watching it change on an hourly basis when it was really kookie!  I used to search mls 50 times a day back then begging for something new to hit the market so I could sell a property to somebody patiently waiting for the property of their dreams to go live...

Just look at what's happened on June 16th in Southwest Florida during the last 5 years:

After a quick look one might think there hasn't been much of a change but looking closer you can see a magnificent difference of activity and success or lack thereof.

If you get what the data means...GOOD FOR YOU!

If you don't...well, that's why you want to contact a Realtor who can analyze this stuff for you or at least the part of the market you're interested in.

Buying or selling in a market that NEVER changes or changes ever so slightly doesn't require the need for a real estate agent as much.  It's also alot easier to find an agent who has a good idea of what's going on and can assist you with your purchase or sale. 

If you're considering buying or selling in Southwest Florida...well there are drastic changes that happen continuously and that's why you want someone who keeps up to speed on those changes and can give you current information on the area or type of product you're considering.  This is why I personally shy away from those who attempt to do this part time or who claim to work huge geographic areas like the whole Southwest Florida region.  It is impossible to be an expert in either of those scenarios!

That's why you want a specialist in the location you're interested in. If you need a REALTOR in Bonita Springs, Fort Myers, Estero or Marco Island...I know experts who can help you out tremendously!

If you're thinking Naples...well...call a Smart Girl! :)

Best Regards,

Your Naples Smart Girl
www.Shannon.com
239-595-6223

When one of Florida's top economists stated that Naples had bounced last fall, I distinctly remembered thinking...oh really...how the heck do you know.  I was hesitant to be overly skeptical due to the fact that I was in complete disbelief when chirps about the Naples Florida market bouncing a few years ago came without even a hint of slow down and then roughly 6 months later those statements were clearly evident.

Since the evident slow down, I've learned to wait...and wait and watch and study...

It's been a little more than 6 months since that glimmer of hope hit the media and I have to say...there are definite signs of a rebound.  Since I've been selling (1996) One aspect of market trends that have always remained consistent is that the lower priced properties tend to start moving first and then activity continues up the price ranges as a market continues to strengthen. 

During the last 4 years or so when I've pondered the health of the market I've relied on a wide variety of resources.  One of which is a comparison between web stats of both my Naples Florida real estate website and a local competitor who places really well but is geared more towards the lower ended market.  For years I've had better traffic than they have but I've noticed during the last year the gap in activity between their site and mine has been shrinking.  Bad news for my business directly since I handle mostly higher ended property but good news for the Naples Florida market as a whole.  It's also good news if my theory of market trend is accurate and based on pending and closed sales this year...I may be correct.

If any of you are Fox News fans you may have just heard how we're in for another 3 years of a total real estate doom and gloom with our state of disaster seemingly ending "quite abruptly" the last quarter of 2012.  Granted those are nationwide mortgage default projections and although many once thought Naples Florida wasn't affected by what goes on in the rest of the world, we in fact are.  At the same time, we have seen magnificent increases of sales on properties priced below $500,000 and I can even say I've seen a nice bump in some recent pending and sales in some of our more luxurious neighborhoods as well.

Interestingly, June is simply not a stellar time of year for Naples real estate.  Our market is actually reversed compared to most areas across the country because it's hot, humid and usually rainy here during this time of year.  Our peak selling season is between January and April...mostly.

Even still, my web traffic is up 45% this June compared to last.  Real estate sales and pendings are also showing significant increases.  There were a total of 275 pending properties the first 15 days of June last year.  This year there are 562...not bad.  On the closed sale side of the spectrum there were a total of 286 closed sales from June 1st through the 15th this year while there were only 200 last year during the same time.  Folks, that still a 43% increase.

This is the part I like to pay attention to the most: 

Buyer and Seller Behavior

Back in April I wrote a blog post that showed a graph provided by Hank Fishkind depicting the public had this emotional feeling about our market:

Although I know a few agents, sellers and buyers who are still hovering in the "depression" segment, I've actually seen and heard more buyers, sellers and agents gearing more towards hope and in a few cases even relief!  Is this because we're coming off peak selling season?  Actually, I don't think so.  The euphoria of any buzz season would've given people would've since worn off yet I'm still hearing very positive conversation around town.  This includes casual conversation about sellers selling, buyers buying and agents doing both. That sort of chatter is something that been missing for awhile and if memory serves...there is nothing wrong with that!

Is this your get off the fence free card?  Nope, this is just a few observations and a few facts I've compiled to keep you in the loop.  If you're contemplating buying or selling in Naples, you always want to consult a smart Naples real estate agent!

Best Regards,

Your Naples Smart Girl!

There's been a weird Naples Florida real estate trend lately of crazy questions, concerns, demands and requests coming up during the escrow period of the contract.  If you haven't seen me type it already, real estate always trends and it trends in every way possible.  This too shall pass but while we're still riding this weird wave, let me clarify a few things that might come up while you are under contract. 

The most prevalent weird thing I've seen lately are unusual requests and/or demands regarding repairs.  For example, This year I was involved in a deal that had a radon issue.  When the buyer responded with his requests for repairs there was a side note asking for a specific radon mitigation system.  According to the contract, the buyer doesn't have the right to request which system is installed. The buyer has the right to ask for a mitigation system that will remove unhealthy levels of radon from the unit or a credit for the repairs...see below:

I also had another circumstance where the buyer wanted to "supervise" the repairs...but according to the contract, "Remedial Action shall be deemed to have been properly performed when (1) the Systems and Equipment are placed in Working Condition...  It doesn't say anything about the right to watch repairs being made.

Why are there so many crazy things going on right now?  The technical answer for that is, "because".  Hey, if real estate was easy then there would be a million people selling real estate right now and although we've had as many as 1 million Realtors, you can guess there are considerably less than that right now.

Real estate isn't easy.  It's easier when you have a competent REALTOR who has an exceptional network of inspectors, attorneys and other vendors to help you get your deal done and if you're thinking of buying or selling in Naples, you should be calling a smart Naples Realtor!

Best Regards,

Your Naples Smart Girl!

*The information in this specific blog is in regards to the Naples Area Board of REALTORS residential sales contract.  If by chance you have found this post and your contract is on a property in a different location and/or written on a contract other than the NABOR contract, please contact your REALTOR or your real estate attorney/title company for clarification on your specific deal.

The results of a recent poll taken on my Naples Florida website concludes that although some buyers are searching around Florida and other out of state locations, Naples Florida is still a majority of the participants only location they are currently considering!  Here are the poll results:

Is Naples The Only Location In Florida You're Considering Purchasing?