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Pelican Bay Market Update 11.28.12

By
Real Estate Agent with John R. Wood Properties

I performed an extensive analysis of Pelican Bay today to help a buyer better explain his price position on his offer. If you've been following my Naples real estate blog or had your ear to the ground here in Naples, you've heard two things repeatedly.

  1. There's no inventory.
  2. We're expecting a very busy buying season.

With sales steadily increasing, buyers are losing power in negotiations.  It's been an interesting pre-season. For example, there were 1,604 sales in Naples, Florida, from October to December 28th last year.  This year there were 1,923 (up 18%). That has put a new tone in the listing agent and seller's voices, and you can hardly blame them...they've been waiting a long time to get the upper hand again, and many feel like they have it...but do they?

A thorough market understanding is one of the most valuable assets a real estate agent can possess. Sadly, few can analyze a market well enough to have an undeniable understanding.  Unfortunately, the data can be difficult to figure out, and in some cases, there isn't enough data to properly assess a property's true value.  That's where my Pelican Bay analysis came in today. 

For confidentiality, I'm not going to discuss the exact location within Pelican Bay my buyer is targeting. Still, because there was a strong discrepancy regarding current values in the location, I broadened the scope of my analysis to check my accuracy in understanding the Pelican Bay market. 

This is when negotiating can get tricky. The listing agent, in this case, was holding tight to the idea that just because one buyer overspent meant a well-defined, much higher market value in the neighborhood...total bummer.  So I held tight to the other Pelican Bay sales that made more sense while finding visions of holding hands merrily to the closing table were quickly fading...eh...been here before. Find out more about the Pelican Bay real estate market.

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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.”