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Naples Real Estate Update 11.8.2012

By
Real Estate Agent with John R. Wood Properties

Good Day My Naples Friends!  The election is over! The President is still the President and you can now get high legally in WA and CO...what a bizarre coincidence! The Naples real estate market shows signs of a fierce premature heat up but buyers might have a new edge in negotiations...

Between October 1st and November 6th:


There were 627 sales in the Naples area last year with 48 of those sales listed at $1,000,000+.  The highest-priced property sold was listed at $6,950,000. 

This year a total of 735 sales in the Naples area with 45 sales priced at $1,000,000+. The highest-priced property coming in at $6,200,000.

That's a 17% increase overall BUT a 6% decrease in Naples luxury real estate sales.

I personally was involved in the negotiation of 8 offers this past week.  Offers I negotiated were in locations like, Park Shore, Moorings, Olde Naples and Pelican Bay.  The overall tone amongst the listing agents (including myself) was extremely confident. On the most expensive condo (priced between 6 and 7 million) the seller and/or seller's agent was too confident and they ended up losing the deal which is a crying shame considering that property has been on the market for a million years (I may have stretched the market time a little bit here). 

What does that mean for our future Naples real estate market?  Had the election ended differently, I believe that would've have boosted momentum and it would've been extremely challenging maybe a little bit impossible to have a solid negotiating stance as a Naples luxury buyer.  On the day of the first debate, my web traffic for Naples real estate increased approximately 35% over the year before and stayed that way almost every day (Hurricane Sandy dropped for 2 days ). On the day of the election, my Naples real estate page views dropped 35% and increased only 9% from there yesterday.  More importantly, people were looking for more luxurious locations than what is being viewed today.

It is still too early to tell what specifically will take place
this Naples real estate season so please don't think you have all this extra time to make a decision.  As many of you tenured Naples real estate enthusiasts know, the market can change on a dime and travels precisely at the speed of talk.  I'll give you an example.

I asked a top Naples agent yesterday about her traffic experience
.  She replied, "I had 0 showings today".  I said, "what about yesterday"...if memory serves she said, "4".  I replied, "the day before that"?..."3".  Does that mean something?  Maybe not by itself but that's how I collect data about the market...ie...my ear to the ground if you will.  She was just one agent I spoke with...chatter with other agents, buyers, sellers, past clients, store and restaurant owners and employees...this is how we keep abreast of the current purchasing and selling behavior which is what makes a market turn my friends. 

Another example:  I dined at Tommy Bahama's last night...walked in (early 5:30) sat down right away...and while there was a nice gathering of people you could still get a table closer to 7:00 without a wait.  Was it because it was chilly and breezy or because many people who are already here (up from last year) were bummed out?  Probably a combination of both...I walked into Island Company afterward and asked a sales lady about her traffic experience..."crazy this past weekend...weird quiet yesterday and sporadic today"...again weather change, or tears in my champagne?  Probably a combination of both.

My gut tells me this lull may be short-lived.
  Although we may have a percentage of people drop out of the Naples purchase market because of the election, I do believe many will still buy this year and although it's a little quiet right this very minute, I don't believe it will last for long so NOW is the time you may want to do something. We have a new talking point to discuss when negotiating today but it may not be here long ESPECIALLY if it continues to dump snow and ice on our Northern friends.  Uncertainty is our friend in negotiations when buying so consider getting here soon and being prepared to pull the trigger. 

If you're considering selling your Naples real estate...you have a challenge.  Here's what I found in my experience last week.  Agents who have had a great deal of success over the years stayed on point through negotiations and while more confident than years past were still all about making the deal happen.  Agents who did not have a great level of success or long history did not fair so well.  This is why you want to go with an experienced proven professional when you list your Naples property.  In tumultuous times as these, a proven professional can assist you through the important decision making and potentially save you $1,000's of dollars and help you accomplish your goals over those who do not have the ability to assist you in making wise decisions. 

I am ready to assist you when you are ready to go so please contact me in advance so I can help you personally.

Stay safe, Stay warm!

Posted by

Serving my purpose through content-rich information about Naples, Florida real estate!

Best Regards!

Naples Real Estate

Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223

“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”

 

Comments (3)

Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Smart Girl, I just love how you personalized your chart.  Next time you're at Tommy's shout out across the street, I just may be at Harry's!  Keep  your ear to the ground Shannon, but only one at a time. 

Nov 08, 2012 05:13 AM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

I agree with the first comment. Your market reports and statistics are amazing! Great report as always. 

Nov 08, 2012 07:32 AM
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Thank you gentlemen! Hugs to you!!!

Nov 30, 2012 12:20 AM