A few posts back I wrote this:
If you are in the position of selling your home you must evaluate your situation. If you just want to sell but don't need to sell you should be resigned to the fact that your home will sell but for less than you thought, maybe even much less than you thought. Depending on when your "buy side" was, you may lose money, break even, and there are still those who can and do profit. If you don't buy into this reality then maybe it's time to take a break and get out of the market for a while.
I'm working on a sale right now that proves the point. Property was puchased in 2003 for $450,000. The owner transfered out of the area, home was on the market for nearly a year, and it was initially listed in 2007 for $675,000. The owners wanted to sell, they didn't need to sell. We negotiated a price below their purchase price. They will take a substantial loss.
In the same post I also wrote this:
If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.
Along the selling timeline the price was steadily reduced chasing the market down. There were some offers along they way that were not accepted. If this property hit the market at $575,000 initially I suspect it would have been sold long ago and at a higher price likely for a profit less months of carrying expense.
If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.
Based the closed sale data from 1/1/2008 through 9/30/2008 for single-family and detached-villas homes as recorded in Sunshine MLS for Realtor assisted sales.
| Community | Number of Sales |
| SHADOW WOOD AT THE BROOKS | 46 |
| BONITA BAY | 45 |
| STONEYBROOK | 33 |
| PELICAN LANDING | 29 |
| PALMIRA GOLF AND COUNTRY CLUB | 27 |
| SPANISH WELLS | 24 |
| GRANDEZZA | 24 |
| COPPERLEAF AT THE BROOKS | 18 |
| CASCADES AT ESTERO | 16 |
| BELLA TERRA | 15 |
| HUNTERS RIDGE | 14 |
| THE RESERVE AT ESTERO | 13 |
| WILDCAT RUN | 12 |
| FOUNTAIN LAKES | 11 |
| WEST BAY CLUB | 11 |
| CEDAR CREEK | 10 |
| BONITA BEACH | 9 |
| BONITA FARMS | 9 |
| COPPER OAKS | 8 |
| BONITA SPRINGS GOLF CLUB | 8 |
If you thinking about buying or selling a home in Naples, Bonita Springs, or Estero get the data and get the facts on the local market. The local market is within the community and the neighborhood in the community. Request a Personalized Market Report for the area you are interested in.
Based the closed sale data from 1/1/2008 through 9/30/2008 for single-family and detached-villas homes recorded in Sunshine MLS for Realtor assissted sales excluding Golden Gate City and Golden Gates Estates.
| Community | Number of Sales |
| LELY RESORT (Total/Ole) | 63 / 11 |
| NAPLES PARK | 63 |
| PELICAN BAY | 32 |
| ISLAND WALK | 32 |
| MOORINGS | 32 |
| VINEYARDS | 30 |
| GREY OAKS | 30 |
| PELICAN MARSH | 29 |
| AQUALANE SHORES | 29 |
| OLDE NAPLES | 24 |
| VERONA WALK | 22 |
| IMPERIAL GOLF ESTATES | 22 |
| LELY COUNTRY CLUB | 22 |
| PARK SHORE | 21 |
| TUSCANY COVE | 20 |
| MEDITERRA | 20 |
| PEBBLEBROOKE LAKES | 19 |
| BERKSHIRE LAKES | 19 |
| PORT ROYAL | 17 |
| LONGSHORE LAKE | 17 |
Lely, Ole, and other communities active in new developer sales will be understated.
If you thinking about buying or selling a home in Naples, Bonita Springs, or Estero get the data and get the facts on the local market. The local market is within the community and the neighborhood in the community. Request a Personalized Market Report for the area you are interested in.
It's the 1st of the month (or maybe a bit beyond) and I have posted on www.BobPisa.com a reports that shows the charts for 12-month running average selling prices and unit volume sales. The data is broken down by area - Naples and Bonita Springs / Estero Florida. It is also broken down by single-family home and condominium. Here are the single-family pending home sales trends, the leading market indicator...
Bonita Springs / Estero on the left, Naples (rocket ship) on the right.
Data provided by Sunshine MLS
Bonita / Estero have leveled off over the past few months although the trend is still positive. The average number of homes sold for the past 12 months is 57 so a saw tooth trendline is not unexpected. There seems to be no stopping Naples though...look at that trend line! You may click on each image to go directly to the report page on my web site.
...and, Cash is King. One man's view.
I was giving this some thought while driving to the office today. How does the current state of our economic affairs affect the real estate market and those in the market? I define "those in the market" as people who earn their living providing professional real estate services and those looking to buy and/or sell real estate. We are all "in the market."
The effects are different for everyone depending on how and why you are in the market. For those of us earning a living providing real estate services, much like any other professional or journeyman during down business cycles, we must work harder to earn new customers and perform above expectations to please and earn referrals. Our income is suffering too.
Cash is king. For those looking to buy their first home or to upgrade to a larger home you will need a larger down payment, verifiable income, and a good credit score. That means if you have managed to save some money for this purpose you will be in good shape but perhaps purchasing a little less house. If you don't have the 20% (perhaps 10%) down payment, then saving for it is the only rational solution. Money is avaiable under these conditions - strong down payment, verifiable income, and good credit score. The following applies to this group also.
I've heard the following attributed to Warren Buffet - Sell when everyone is buying and buy when everyone is selling.
Cash is king. If you are an investor or looking for a second home and have sufficient cash on hand Warren Buffet says it all. Most investors know that profits are made on the "buy side" of the transaction. In other words, buy at the right price and in the long run you will be rewarded.
If you are in the position of selling your home you must evaluate your situation. If you just want to sell but don't need to sell you should be resigned to the fact that your home will sell but for less than you thought, maybe even much less than you thought. Depending on when your "buy side" was, you may lose money, break even, and there are still those who can and do profit. If you don't buy into this reality then maybe it's time to take a break and get out of the market for a while.
If your time horizon with regard to a purchase is at least 3 years (5 is better) then real estate is tried and true to perform over time. I know Donald Trump believes in it.
If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.
The subject of Short Sales and Foreclosures is a whole other topic...
Now the advertising plug...if you believe in buying real estate in times like these the most important thing to consider is where? The best suggestion is to buy where people want to be, buy where there will be growth, and buy where the lifestyle you most desire is provided whether it's a permanent residence, seasonal residence, or just a vacation home - southwest Florida, of course! Naples, Bonita Springs, Estero.
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With our real estate office in Naples and my home in booming Estero I have great exposure to and knowledge of Naples, Bonita Springs, Estero and south Fort Myers.
Robert (Bob) Pisa moved to the Naples area after spending 30 years in the Boston area. He was raised in the metro-NYC area and graduated from the Rochester Institute of Technology (Rochester, NY) in 1974. His career has been primarily in high-technology manufacturing and enterprise software for multi-national companies. Bob was also a successful small business entrepreneur and ultimately sold his start up business after six years of operation to a major corporation. He is the recently elected Vice President for the Grandezza Master Homeowner's Association and President of the Santa Lucia Homeowner's Association. Bob attained his real estate license in 2005, and is working in commercial and residential real estate. He is a member of Naples Area Board of Realtor®, NAR, and FAR.
Bob is Prestrige Properties Sales Leader in the 2nd Quarter 2008. 
Residential + Commercial + Investment + 1031 Exchanges
John and Lisa - St. Louis, MO
Bob, Thanks for your assistance in helping us purchase our town home in Naples. Since we live so far away, it was really nice to have worked with someone who answered our calls and emails promptly! Your help in showing us on line listings of what was available in the location that we wanted saved us so much time and effort. I appreciate your being there to do the walk through for us when we closed since we were not able to be there ourselves.Thanks again for all your help!
John and Lisa
Anthony Elia - Attorney at Law
I am an attorney in Connecticut specializing in real estate transactions. My wife and I recently purchased a home in Punta Gorda with the help of Robert A. Pisa of Prestige Properties of South Florida. Attempting to buy a home so far away can be a daunting task, but Bob went out of his way to make us feel comfortable, going so far as to take photos of various homes and the rooms inside to provide us with as much information as possible. He was forthright and honest with his recommendations and we soon became aware that his opinions were right on target and that we could trust his judgment. Bob was extremely helpful in negotiating a fair price for our home once we finally found something that was to our liking, a process throughout which Bob exhibited an abundance of patience. His dedication to us as home buyers did not stop once we purchased our home, as he has again gone far beyond the call of duty to assist us with matters which came about after the closing. There are many real estate agents who would forget you even exist once they are handed their commission check, but I can assure that Bob is not one of them. I have been practicing law in the Connecticut for almost 30 years and I can tell you from experience that real estate agents of Bob's caliber and expertise are few and far between. We are very fortunate to have chosen Bob as our real estate agent and we highly recommend his services to anyone who is interested in buying a home in Southwest Florida.
Sincerely,
Anthony J. Elia, Jr.
Connecticut
Andy J. - Denver, CO
Going through a process of purchasing a second home is never easy, especially when you have to complete the deal from a distance. Bob's professionalism made our process much easier and convenient. My introduction to Bob came from this wonderful website. His responsiveness to my many questions and inquiries was always truthful, honest, and prompt. It is rare that you find someone who is patient, who strives to understand a client's needs, and then organizes a trip that will guide you through a difficult decision. Through this process, Bob became friend, colleague, and real estate advisor for my family. What more can you ask...If you are looking for someone who has these qualities, I highly recommend that you speak with Bob.
Andy J.
Brian O'Donnell, CEO | Fraysen Systems Ltd.
I have worked with Bob on a number of projects going back almost twenty years. I have always have found him trustworthy and committed to getting the job done. I have highly recommended him to a number of associates and will continue to do so.
Brian F. O'Donnell
Tom Barrett, Director | EqualLogic Inc.
I have known Bob for more than ten years with much of that time in a professional environment where I found Bob to be nothing other than the quintessential professional. Bob's ability to research the relevant data and apply a highly analytical approach always leads to well informed conclusions and good decision making. These traits in addition to his commitment to get-the-job-done and attention to the details are exactly what you want from your real estate professional. Bob's recommendation comes to you without any hesitation whatsoever.
Bob Thaler, Sr. Director, Marketing Communications | Acronis, Inc
I have known Bob Pisa for more then 10 years as a business associate, peer and close friend.
Bob is a man of great integrity, is extremely dedicated to his family, his work, and is trustworthy beyond reproach. Highly motivated to always do the best in every aspect of his chosen field, he does whatever it takes to ensure a satisfied customer. His dedication to hard work, identifying the best solutions for his clients, establishing life-long friendships and a sincere drive for honesty makes Bob Pisa the consummate professional.
Furthermore, his expert ability to research critical information necessary to make important buying decisions will serve his clients well when considering a real estate transaction.
I have first hand knowledge of Bob's character and credentials because of our peer relationship at a firm selling very complex software to the semiconductor industry. His performance was so impressive; Bob was rewarded with a promotion to Senior Director.
Bob Thaler
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