A colleague of mine (Scott Lepore) dropped by my office yesterday with some statistics about Pelican Bay that proved quite disturbing. While he was preparing for a big speech he'll be giving next week, he ran an in depth market analysis of the past 2 years of sales activity and compared those with the current year.
Here's what he handed me:
We still have a full week of peak season before we can officially call it 1st Quarter 2009 but as you can see from the numbers above, Pelican Bay isn't doing so hot!
Now let's double the trouble by showing what's currently available and what the projected number of sales will be for 2009 based on 1st Q's activity:
How many fewer sales are we on track for so far this year?
BUT IT DOESN'T HAVE TO BE THIS WAY IF YOU WANT TO SELL YOUR PELICAN BAY PROPERTY!
There are some aspects in real estate that always remain the same!
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Price
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Condition
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Location
There's no mystery Pelican Bay is a phenominal location and offers fabulous amenities like the beach clubs, fitness center, golf club and spa! But my fellow Pelican Bay property owners (and neighbors), we need to make a tough decision! Do we really want to sell now (in what appears to be super crappy market) or do we wait for better times?
Here are cold hard facts! If you want to sell today, you either need to have something very special seperating your property from the other 446 Pelican Bay listings or your pricing has to be SO astronomical, buyers are compelled to write contracts for fear of losing such an excellent buy!
The price reductions have begun and I believe we're going to continue to see a need for price adjusting for the next several months until Pelican Bay is stable again.
The faster Pelican Bay property owners adjust price or take their properties off the market, the faster a more stable Pelican Bay real estate market will result.
Also a simple note to the less motivated. If you haven't had any showings in awhile and you don't want to either sharpen up your property condition or drop your price, for Pete's sake, take your property off the market! 2 years of active inventory is a little much!
For more information regarding Pelican Bay Naples Florida, you can contact me direct or follow my Pelican Bay Naples Florida tweets on Twitter @Pelican_Bay
Best Regards!
Your Naples Smart Girl!
Serving my purpose through content rich informaton about Naples, Florida real estate!
Best Regards!
Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223
www.ShannonLefevre.com
“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”
Hi Shannon - I agree with your note to the less motivated sellers! This is good advice in most markets in this troubled economy.
Hope things pick up there soon.
Mike
Thanks Mike! It will pick up if the Pelican Bay homeowners want it to! They'v done really well considering we've had a tough market since 2005. They're not new to it but we are all weary...that's for sure! :) It's good to see you!
Shannon it looks like the poor economic climate is finally catching up to you guys. Join the rest of us...misery loves company:)
Well it's a good time for all those people who wanted to buy all the years before but couldn't afford it. Wish I had a nickle everytime I heard "we should've bought" when prices were sky high. Now they can! There are some AMAZING deals to be had right now!