5 Reasons To Buy Naples Real Estate Now 1/28/21

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Hello Naples Friends! I’m here to crank out a snapshot of my view from deep within the woods of this crazy Naples real estate market and offer some insight for those of you who are thinking about buying or selling Naples real estate this season. Long story short, sellers: WE NEED YOU. Buyers, here are the 5 reasons to buy real estate now.

Shrinking InventoriesShrinking Inventories

Unbelievably low inventories are the most discussed topic of Naples real estate this season. 2,544 listings in Naples currently exist. Friends, I can’t express the amount of concern I have regarding this number. Most of the time, this figure is well over 5,000. Several buyers are sitting on the sidelines, waiting for inventory to hit. As a result, it is increasing seller’s confidence and buyer competition. I’m not just talking about competitions on new inventory hitting the market. Some properties that have been on the market have found more popularity as other locations dry up. As an example, we had a fabulous listing in Salerno at Bay Colony. Our toughest competition was properties listed in Trieste at Bay Colony that were priced extremely competitively. Once those listings sold, the crowds came to ours and resulted in a competition to purchase.
Some buyers think, “we’ll just tell our agent to “go out and find it for us” that typically works the first time and maybe the second, but once those opportunities are taken, it is extremely improbably agents will be able to “fish up” additional inventory once those sellers who were on the fence. Sell. I have a few scenarios like that going on right now.

Increasing CompetitionNaples real estate

371 Naples properties went under contract this week with a market time of 3 days or less. Other markets may be able to offload their inventory in hours, but here in Naples, many of us like to enjoy a coffee, chatter with friends, hit the beach, play a round of golf, and enjoy a fabulous dinner and then do the paperwork. The fact, so many properties are moving this fast is a testament to pent-up demand and the fact you need to keep more than one eye on the market.
Some buyers are not comfortable purchasing properties site unseen. A higher percentage of buyers are extremely comfortable purchasing this way. This will really put those buyers who aren’t comfortable traveling or purchasing from afar at a grave disadvantage.
Literally, thousands of listings are being viewed via my new property update feature on my site. If you haven’t signed up for your favorite markets yet, I highly encourage you to do so. Additionally, I hear about properties getting ready to hit the market before they go live all the time. That’s how some of my buyers have been able to claim that needle in the haystack as theirs.

Prices Are Going UpPrices are going up

Buyers opting to wait for after-season discounts may find themselves paying more for hesitating this year. That’s if they can find something to purchase at all by the end of the season. Keep in mind the snow has barely started to blow. There is no greater fuel to the Naples real estate fire than a good economy and terrible winter weather. Over the course of the last 48 hours, I can almost track the oncoming snowstorm about to hit the northern parts of the United States directly from the interest Shannon.com is garnering.
 Every year there is a percentage of Naples buyers who literally throw their hat in and proclaim, “I am NOT doing another winter here.” We haven’t even seen that group yet. We usually start to see them in March and April unless the weather gets dreadful earlier. If our inventories look like this and we continue to have this many buyers, can you even imagine how March and April will look like? Yikes!

Areas Of Opportunity

There are always areas of opportunity, even in active markets like this one.
– Looking for a big high-rise condo? There are some amazing choices right now and one SIMPLY GORGEOUS one. Call me!
– Calling all remodel/flippers…we need you! Call me.
– If you’re thinking about selling dang near anything Naples real estate related, we need you.
– Like low floor/high-rise condos? There’s a real opportunity here!

Condo Construction LogisticsMystique at Pelican Bay

If you’re planning on purchasing a high-rise condo in need of renovations this year, get on it now. You’ll need to get through closing, choose a contractor and get your permits in place before the beginning of the construction period. This typically takes place sometime in April or May, depending on the building, and ends in October or November for nearly all Naples buildings.
If you wait until March or April to purchase, you may find you will NOT have enough time to get your construction team together and permitting through. You could also run into scenarios where the best teams are already booked, preventing you from accomplishing your construction in time. Buildings seldom make exceptions for noisy work. This means you could only be partially done by next season or worse. You may have to begin your project next year and camp out next season.

On a side note:

Plan Out Your Objective!

Have you noticed there aren’t nearly as many Naples open houses this year? Many agents are opting out of holding open houses for a few reasons. Here they are:
1. Agents aren’t going to hold open houses when the properties are already under contract.
2. Why forfeit 3 hours of an afternoon when the property is going to sell anyway?
3. Busy showing schedules prevent agents from being in 3 places at once.
4. Can’t hold open what isn’t on the market.
That means more people are going to make formal showing appointments. Plan ahead especially if you are planning on coming during one of our extremely busy 3 day holidays!

So many buyers stumble into Naples, decide they like it enough to buy here, and then begin their last-minute hunt the day before they leave town.  If this is the year for you to buy Naples real estate, please plan. In normal years we can handle short notice showing requests with a smile. This year is getting sketchy with all of our calendars. If you’d like to experience smooth sailing through your real estate endeavor, it helps to make a plan and stay the course.

Listing agents are booking appointments in some cases several days in advance, which means they will not be able to accommodate your last-minute showing requests. Please give as much notice as possible if you want to take a formal look at properties. Failure to do so could result in you not being able to get in.
That’s all I have for you today. If you have questions about buying or selling Naples real estate, contact me today! I can offer terrific insight, market intelligence, and we’ll have a great time accomplishing your objective.
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
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