I trust your holidays were amazing and everybody is staying healthy! We have a great deal to talk about today including what the Naples real estate market is doing and what to expect this high season! I’ll also discuss negotiations and other factual data you will likely find interesting. Grab a cup of coffee and meet me on the lanai while I answer the 10 Naples real estate questions many of you are asking.
1. Is the Naples real estate market going to slow down this year? Naples has 897 listings total (.7 months). I seriously doubt we’re going to see much of a cool down through June. According to the National Association of Realtors, the National market should slow due to increased interest rates. They’re expecting three hikes this year. This will likely mean more for our lower-priced markets but we masked a ton of financed luxury deals as cash offers to get contracts accepted. High net worth individuals don’t always like to pull their money out of the market when it’s performing well and 2021 was considered a “superb” earnings year according to Forbes.
2. When are listings going to hit the market? So many of you are calling around asking when there might be new inventory. You can expect a tiny flurry of new listings in January as some residents wrap up the holidays and shoo their friends and families out of town. Don’t expect the same amount of inventory though. It’s likely going to be a smaller pool of opportunities. You will want to be paying close attention as you can expect listings to sell within hours and/or heavy competition during negotiations.
3. What’s fueling all of this interest for Naples real estate? We always get a good group of people who decide this is the year to buy a place in Naples. Over the past two years, we’ve seen more than our fair share of people coming from heavily covid restricted areas. Many of those folks have had the same epiphany they can “work from home.” Many have chosen sunny Florida to do so. Others have decided they’re going to forgo the “show me your papers” to eat in a restaurant or mask up in their own houses (LOL).
4. Is Naples, Florida a good place to invest in real estate? According to Zillow, the Naples real estate market has appreciated 34.3% during the past year. Which makes me wonder how much further we can go. I think we have more steam but if I were contemplating selling my Naples real estate, I’d get it on the market this season! Call me to find out what your property is worth.
5. Is now a good time to buy Naples real estate? Provided you can find what you’re looking for and you have the wherewithal to hold your property through a downturn, then yes. If your financial situation is more volatile, it might be best to contact me to determine if you should move forward this season.
6. Can we take a look at Naples real estate even if it’s not on the market? Many of you are planning visits this season and expect to drive through gated neighborhoods or tour buildings without inventory. You’re more than likely going to be turned away. Gates and secured entrances are there for the privacy of the residents. Guards are well trained to turn potential buyers away. There are 57 scheduled open houses in Naples from now until the end of January when normally we have 100’s.
7. Can we just see open houses to get into neighborhoods? There are only 57 scheduled open houses in Naples from now until the end of January when normally we have 100’s. Many of these open houses will sell before the scheduled date. Do not be surprised if the property you planned to visit during the open house is no longer available. Schedule an appointment ASAP to avoid disappointment.
8. Can we still buy without seeing the property first? Sight unseen sales hit our market with extraordinary exuberance during the past two years and many agents/owners have gotten burned by failed contracts. This is causing some agents to direct their sellers to entertain offers from buyers who saw the property over somebody who has not. Sometimes this is due to buyers making more than one offer at a time and choosing later which property they ultimately wanted to purchase. Other times, it stems from older sellers out of touch with the reality that buyers have this much desire and confidence to purchase real estate without seeing it. Contingencies of any nature are going to be an issue for buyers this year including inspection rights. Ask me more about this.
9. Do you have any pocket listings we can see? If there are pocket listings, they aren’t going to be in anybody’s pocket for long. There are too many buyers! Some of you are feeling agitated by having to compete with other buyers and don’t want to go through the process of writing an offer only to be beaten by a more attractive offer. This is fueled in part by the idea you don’t want to overpay or suffer the loss of missing the property. No tenured real estate agent likes this market either but we do know how to strategize you into a winning position. The first rule, take a breath. The second rule, contact me, and let’s discuss your objective. Maybe we choose to suit up for battle, maybe we sit this one out. It really depends on your ultimate objective.
10. How fast is your response time? Our best buyers are on point and know to look at our notifications the moment they pop up. They make immediate decisions to punt or go for the property. If they want to strike, we connect within 5 minutes of market time. We are usually en route to the property within fifteen minutes provided the listing agent has given us access. Nobody is losing a deal because we failed to respond. We aren’t firemen and we’re certainly not saving anybody’s life (we don’t think) but we are saving our share of deals.
We are getting a ton of calls from buyers who are looking for agents who can accomplish objectives because the agent they are currently using is not handling business well. It’s the opposite behavior we see when the market is in the garbage and owners fire their agents because they can’t get their property sold. We are currently in an extreme seller’s market. It makes sense to work with an agent with extreme buyer’s agent skills. Contact me to find out more.
I hope you took something good away from the answers to my top 10 Naples real estate questions today. Despite the chaos, we are excited about this year, staying on top of our game, and happy to assist you when you’re ready to buy or sell your Naples real estate! Shoot me a text for the fastest response to any of your Naples real estate questions today.
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- Audubon Real Estate
- Bay Colony Real Estate
- Collier’s Reserve
- Coquina Sands
- Grey Oaks
- Gulf Shore Boulevard
- Kalea Bay
- Naples Cay
- Old Naples Real Estate
- Park Shore Real Estate
- Pelican Bay Real Estate
- Pelican Marsh
- Pine Ridge
- Port Royal
- Quail West
- Royal Harbor
- Talis Park
- The Dunes
- Twin Eagles
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