Good Morning Naples Friends,
Sellers all over Collier County are asking what their homes and condos are worth which tells me there’s a bit of disconnect in the market. Today I’m going over all of the questions associated with value and what you can expect if you’re buying or selling Naples real estate this season. If you’ve been asking yourself:
- What’s my Naples property worth?
- How can I get more money for my Naples property?
- Do all Naples home improvements increase my property value?
- How can I shorten my market time?
You’re going to want to read this post!
If you research the best home improvements you can make to increase the value of your home or condo online I guarantee you will find some really inaccurate advice. For example, Moving.com suggests you replace the garage door as the #1 thing you should do. That’s fake news, my friends. I’ll tell you some terrific things you can do to help you sell or even increase the value of your Naples, Florida property.
In This Post
- Value Increasing Improvements vs Saleability Improvements
- Attributes that add or subtract value and saleability
- Easy and cost-effective ways to increase saleability
Value Increasing Improvements vs. Saleability Improvements
Value increasing improvements are updates you can do to increase the price you get for you Naples property. New kitchens, new baths, flooring, paint. Anything that greatly enhances the aesthetic appeal of the property fits into this section. You can also make terrible mistakes as well. If your choices do not coincide with what’s popular you could actually decrease the value of your property.
That’s why so many smart people ask their smart agents about their choices BEFORE making changes. Several past clients have called over the past year for advice. My most successful sellers call first, they describe what they want to do and we discuss materials. I can save them money or offer options that will increase the value even more. I can send pictures describing what I’m talking about and if they need a trusted vendor, I make quality and economical recommendations!
Saleability improvements don’t add value but do increase the number of interested prospects to shorten your market time and strengthen your position with your selling competition. Saleability improvements include replacing air conditioners, installing a new roof and replacing old appliances. It won’t add value to your property but it will increase the number of people who will be interested in your property.
Why don’t these improvements add value? Because people expect to buy a home with a good roof, working air conditioner and working appliances. When they don’t get them, they want discounts.
Saleability improvements can sway a buyer towards your property and away from the competition. They can also save you from costly property condition demands once inspections come in too. So yeah…your bottom line could easily be affected in a positive way in the long run but won’t necessarily change the price you set when you hit the market.
The Best Value Increasing Improvements For Naples
#1 and #2 Kitchens and Baths
Not so ironically, the most expensive improvements like replacing the kitchen or the master bath are also the most favored and garner the best returns. These improvements are great if you have a bundle of money and lots of time but it’s “NO”vember when many condo associations do not allow noisy work in their buildings. If you missed doing these things already and you want to list this season, let’s look at other alternatives.
Flooring is a pain in the pocketbook and the neck because it’s not just about replacing the floor, it’s about replacing the molding, figuring out what to do with cabinetry, matching paint, what to do with your furniture…it goes on and on. Floors are a big deal though and take up a great deal of what your eye sees. It can totally change the aesthetic value of the entire home. Make wrong choices though and you can devalue your property and take a terrible hit, much like a bad stock purchase.
#TrueStory We recently saw a home in Pine Ridge where the owners installed new floors. They opted to take out a gorgeous and very popular porcelain tile and install a gross fake wood floor. They TOTALLY missed on their choice and it’s costing them an enormous amount of money in holding costs because the home won’t sell for what they think it’s worth. Always ask a GREAT REALTOR if you are considering using material you don’t see very often. There might be a good reason why you haven’t seen it and it might be because nobody likes it.
Painting is one of the least expensive improvements you can make and it takes relatively NO time to do it. Most importantly it can mean everything when it comes to capturing a ready willing and able buyer. It can also mean chasing away every viable buyer if you don’t paint. If you have terrible wallpaper, paint it! If you have dated faux finishes, paint it. If your color selections are crazy like they are in my house (no joke) paint! I am continuously blown away by the number of agents who choose to be polite and quiet when it comes to making minor improvements. Many agents say “I don’t want to offend them.” Ok. Then you’re opting to get fired when you don’t sell their property and the seller loses $100,000’s of dollars because they rode the market down. That’s a sound and honest business strategy! Team, we’re in this together, I’m not going to ask you to spend one nickel unless I think it will greatly enhance your odds for success!
#TrueStory Earlier this year we advised a seller to paint one wall after 30 days of market time with no offer. We sold it 2 days after we painted it. Crazy right? These strategies work!
How Can I Get More Money For My Naples Property?
The 4 best ways to increase the value of your Naples property is to remodel your kitchen, master bath, replace flooring and paint.
Talking about new paint, we have a terrific new listing getting ready to hit the market in St. Maarten at Pelican Bay. We’re painting yellow walls and it will look and smell amazing by the end of the week! If you’re looking for a fabulous Gulf of Mexico view at a terrific value, let me know!
#5 Soft Finishes
Draperies rugs and bedspreads kill more deals than anything else! These finishes possess a big part of a marketing photo and can be the one thing in a picture that dates the whole house especially if they have loud personalities. Equate it to a slobbery drunk at your favorite restaurant or swanky soiree. Nobody wants to talk to them or be around them. The same goes for those outdated rugs, bedspreads and draperies. Restaurant managers and party hosts are expected to escort out unruly participants. If you’re expecting great traffic and top dollar for your property, you should do the same. Or, list with us and we’ll do it for you!
Who Wants To Spend Money Selling Their Home?
#TrueStory We were in a Pelican Bay home a few weeks ago with a vibrant couple who knew their decorating taste was unique and could cause trouble attracting new buyers to their property. At one point she said, “We’ll move this HUGE couch to our next place and I’ll put a couple of chairs there when we start showing it.” I asked, “Which chairs…you mean buy new chairs?” (she’s shaking her head yes, as I’m shaking my head no.) She looked at me puzzled. I can virtually stage furniture right there. Save your money for your next place.
#TrueStory We were recently called out to talk to a couple who have been on the market for a VERY LONG TIME. I’ve seen their property several times online and talked with buyers about it but this home was always ruled out. Before visiting with them, I took some time to look at their digital marketing footprint. It helps me determine how a property is being received by the general public. I have several ways of finding out how a listing is performing online.
It turns out, their footprint looked terrible. There was very little traffic hitting important portals and virtually no compelling evidence of strong buyer signs. The money shot is an absolute fail! Often that money shot is the only shot we get to entice buyers to click but I see poor choices made every single day that prevent Naples homes and condos from selling! It turns out, their showing traffic is miserable too. Poor showing traffic greatly decreases their chances of a sale.
If over 90% of the world begins their real estate search online and your marketing sucks, selling is going to be a rough road. Once we got to the home we were overwhelmed with the property in a great way! Much like I expect today’s buyer would be if their current listing agent was marketing the property correctly. If my expert eyes can’t see the value of a home online, nobody else is going to see it either.
If you want vibrant marketing results, call me. I know how to drive traffic to your property, increase your showings and your chances of getting an acceptable contract. Driving traffic is our basic job as REALTORS and it blows me away at how few companies and agents actually strive for it. It’s as if 90% of my industry is still marketing the properties the same way they did in the 90’s.
Virtual staging is one of my favorite new tools. I am amazed at how much action we are able to attract to our listings and our success that goes along with it.
Here’s an example of our latest results:
We have nearly 3 times the amount of views on this listing and 5 times the amount of likes. Our comparison is a ridiculously similar home in the same neighborhood listed on the same exact day. We’re already working on our second offer today proving we have an extremely effective marketing strategy.
I do all of my own virtual stagings because we don’t have any local virtual stagers. Professionals outside of Naples absolutely cannot appeal to our buyers the way I can.
While my competitor’s staging may look better than their original photos, my end product connects WAY better with real Naples buyers and produce greater and faster results at no additional cost to sellers.
That’s why I was able to command a new sales price record in St. Raphael at Pelican Bay and why my listing market times are a fraction of my competitors. Over the summer we sold a unit in St. Tropez at Pelican Bay in 70 days after it had been on the market for 579 days with a competitor without success. Every time I staged a new room, our online and showing traffic skyrocketed until BOOM…contract and close! Our seller didn’t have to spend $5.00 improving his home but online, I made $1,000’s of dollars of visually aesthetic pleasing improvements to help it appeal to a wider audience.
Want more information on how my virtual staging works? Call me!
Ask me what I can do for your home!
If you’re thinking about selling but:
- Aren’t sure you can get your price
- Don’t want to do anything to get your property in ready condition
- Need a marketing specialist who can command the highest traffic to your property
shoot me an email. I’ll shoot you a straight assessment! We’re at that stage where some sellers are sitting out because they’re skeptical about whether or not they can get the price they want. Others are resistant to taking the time and spending money on making improvements I can make with a few clicks of a mouse. Then there’s the group who are just tired of the grind. Consider us your espresso shot of Naples real estate success.
Ok, I hope you enjoyed my latest post! Are you on my calendar yet? Giddy up!
Shannon Lefevre, PA
Your Naples Smart Girl!