Happy Pre-season Naples Friends,
It’s the first day of October otherwise known as the first official day of pre-season! In this Naples market update, I’ll tell you what I’m seeing and hearing and what that may mean to you if you’re buying Naples real estate this year or selling your Naples property.
Don’t forget to sign up for listing alerts. You’ll get alerts when new listings hit the locations you’re watching making it easier for you to see all of the latest options in the areas you treasure most. Just go to the neighborhood, building
or community you like and look for the sign-up button. It looks like this ->
You can also sign up for my market report updates. These reports will help you learn the neighborhood and gives you a good idea of not only the activity in
a market but will illustrate if a market is appreciating or depreciating. Just go to your favorite neighborhood, community or building and click on the market report tab. Then click on the Sign Up for Market Reports button ->
You can also sign up for my inside information newsletter where you can get top secret information I don’t share with the general public. Just go to the bottom of this page and sign up for the newsletter!
#TrueStory The Pelican Bay villa market is super tight! There are only 9 listings right now which is less than 3 months of inventory. I have a villa in Pelican Bay hitting the market this week. I already have scheduled showings. It’s amazing! If you would like to see it too, call me.
Sellers: Check my site and see what sort of competition you have. This could change drastically over the course of the next month. I have shadow inventory reports on all of the featured neighborhoods I follow. Call me today to learn what you can expect this season.
Buyers: Many buyers have already signed up for automatic updates but the smart ones are alerting me directly so I can tell them about pocket listings not available to the open public yet. We will see an increase in off-market sales in these areas which means disconnected buyers will miss good opportunities.
Early pricing on new and re-introduced listings are all over the road in many areas. This is a solid indication proving many neighborhood leaders are not sure how the market will perform this year which could cause over-confidence and amazing opportunities.
Sellers: Pricing your property is going to be a bigger deal than normal this year. You can capitalize on uncertainty provided you have a levelheaded agent who knows how to connect with buyers and buyer’s agents. It’s going to be very important to list with an agent who is accustomed to working the listing past just the initial marketing phase if you’re trying to capture all of your resale money. Contact me for details.
Buyers: Uncertainty in the market will bring a mix of overpriced listings and some good finds. Don’t be afraid to strike fast on good deals, everybody will be searching for them early this season. Be equally prepared to strike if the home or condo is really amazing or special. Be prepared to hold if the property is overpriced or there’s a ton of similar product.
Site unseen buyers are on the rise compared to the last couple of years.
Sellers: Make sure your agent is equipped to handle the advantages and pitfalls with site-unseen buyers. This means implementation to exceptional marketing but also includes experience with how to protect you when signing a contract with a site-unseen buyer. Call me today and I’ll explain in detail.
Buyers: Choose an agent who is well versed with working with site-unseen buyers who can explain the nuances of a property or neighborhood that won’t be readily identifiable online. This will alleviate disappointment once the property is yours. An agent who has an exceptional closing team including excellent attorney protecting your best interest and a solid team of inspectors who can identify potentially costly issues.
Rentals are easier to find this year.
Landlords: This may be the year to sell. Before renting your property, it might be worth calling me to see current property values and what you can expect this year in your neighborhood. If selling isn’t an option, consider listing in VRBO and placing a post in the NextDoor app.
Tennants: Many renters solidify their rental agreement the season or two before. Many people waited last year and had success. There are still some locations where you can find rentals. If you’re wanting to be close to the beach, check this one out. 200 steps to the beach!
Deals will shift between neighborhoods. When inventory in our best luxury neighborhoods tightens, many secondary neighborhoods will see a dramatic increase in selling activity where deals can be found.
Sellers: Be aware of shadow inventory re-entering the market in your neighborhood but also comparable locations that could be attracting buyers that were meant to be attracted to yours. This is a season where buyers are going to be more diligent and open to exploring all of their options if pricing gets out of control. Newly remodeled and rebuilt amenities are going to shift interest as well.
Buyers: If you have a specific location in mind, it might be worth checking out comparable neighborhoods or buildings. If you don’t know where they are, call me. I can explain the advantages, disadvantages and give you the best information to help you determine if widening your options is a good solution. If it isn’t, you can serve yourself well by connecting with an agent who has an exemplary response time on new listings hitting the market. Automatic property notifiers may not be enough this year.
In locations with high inventories price reductions will happen throughout the season. There will be pockets of heavy competition in some of our Naples luxury locations where price wars will happen. That’s just the tip of the iceberg though. When buyers actively negotiate with the seller or make their presence known, they get the real insight into where the real deals exist. More importantly, not every seller is going to have the same motivation. In markets like this, it can be easy to figure out who really wants to sell this season. Once that happens, buyers will step up to the plate. You could find yourself competing for the best deals.
Buyers: Don’t be afraid to submit an offer. You may not get it on the first go around but you may be first when the seller decides they’re more motivated. That happened on a unit I sold in Cap Ferrat last season. The buyers scored a great deal they wouldn’t have known existed had they remained aloof.
Sellers: There will be areas in Naples that do not perform well if all listings remain at values where buyers won’t bite. Make sure you’re listing with an agent who knows how to reel in buyers who have more than a fair amount of interest but don’t take traditional measures in letting them know. These buyers will wait and could be attracted to homes and condos that aren’t yours if your agent is hitting the snooze button too long.
Open Season on Open Houses! There are already nearly 100 open houses and condos slated for next Sunday! You can check them all out here! Just go to your favorite neighborhood and click the open homes report button to receive weekly open home lists. The extra bonus is you can see all the new listings that hit in that neighborhood during the week too. Yaaasss! Customization at its finest!
Are you an open house enthusiast? You can also check out all of the open houses in Naples by going to the search button at the top of any page and clicking on open houses! Some areas, unfortunately, don’t allow open houses like Bay Colony. No worries, you can always give me a shout and I can set up a private tour for you.
I’ll be hosting an open house this Sunday from 1 pm – 3 pm at 285 Grande Way #1405. Come by and check out this amazing remodeled unit featuring a gorgeous Gulf view and an incredible amenity package including an available membership to The Floridian Beach Club!
Ok, the phones are already ringing. Time to sign off and get busy. If you have questions or want to make an appointment to list or buy Naples real estate, contact me today!
Shannon Lefevre, PA
Your Naples Smart Girl!