The Naples Florida real estate market is amidst an interesting transition right now! The lower ended market is getting HOT, HOT, HOT while the upper ended market is still struggling a little. As an example, see the email I received today:
Shannon,
Do you believe the selling price your customer offered is actually a good and fair transaction for all parties involved?
I cannot find a recorded sale that defends that price point.
Dr. (confidential) placed a counter offer out to your customer that has received no response or reply.
If you are authorized to be making a counter-offer kindly do so.
The sale price of Unit (confidential) shows and confirms the values within this complex.
Dr. (confidential's) offer to your customer is a tremendous value. The sale price of $(confidential) as is with rights to inspect has not been offered to others to this date.
A quick close can still be arranged once the As-Is Inspection Period contingency is removed.
Dr. (confidential) has been awaiting a reply from you. He has offered your customer the courtesy of time to think this decision through with clarity.
The (undisclosed building) is an exceptional building within (undisclosed neighborhood).
I believe we all would like to put a transaction together that benefits the interests of each party involved.
ENJOY the day!
(Listing Agent)
Some insight:
1. "Good and fair transaction for all parties involved" has nothing to do with negotiating real estate. Some buyers (including the one this email was geared towards) is looking for the best deal. That was explained at the time of submitting the offer. The buyer was not teasing. The end.
2. When I presented the offer, I wrote the agent to let him know the buyer had more than one property he was considering and that he was prepared to move on to the next one should this one not work out...an unfortunate but factual bit of information. The counter here was sent to me one hour before the offer period expired. At that time I contacted the buyer who was traveling, told him about the counter in which he responded, I'll call you next week to discuss the other unit. This did not require a response back to the seller. The offer expired.
3. The sales price of another unit does not show or confirm market value on another property. Market value by definition is what a ready, willing and able buyer is willing to spend. Why they would only offer this buyer a different price and not the "other couple who were just in to view it for the 3rd time" makes no intelligent business sense.
4. This offer was written and submitted a 11 days ago. It expired well over a week ago. There was a price reduction made on the property in the meantime and it still hasn't sold.
5. The listing agent contacted me today to see if the buyer had changed his mind and was willing to accept the seller's original counter.
SELLERS:
1. The upper ended market in Naples, Florida is a BUYERS market. The good news, you don't have to take every offer. The bad news, buyer's don't have to accept every counter.
2. There's every possibility your counter (if it is weak) will influence the buyer to move on to another property. There are MANY to choose from right now and they are not all in a hurry to purchase so they have lots of time to wait for a better deal. DO NOT WAIT TO TRY TO SAVE YOUR DEAL. This is often a kiss of death. STRIKE WHILE THE IRON IS HOT.
3. EXERCISE ALL OPTIONS when selling. Being selective when trying to sell upper ended properties right now could easily result in a FAIL.
4. It's very difficult to try to "sell" a buyer on your "very active" listing when the market is like this. Please don't try to BS a buyer, these folks for the most part are VERY intelligent and will see right through it.
5. If you want to cut a deal, you need to give your potential buyers a reason to come back to the table. Presenting the same counter you offered weeks ago is not going to get you anywhere.
6. If you're really not "motivated" or will "consider all offers" please have your listing agent remove that language from your listing. It will result in a great deal of wasted time for not only you but others who get involved.
BUYERS:
1. It's your market right now but please understand, just because there aren't alot of properties selling doesn't mean you can come in and pick your price out of thin air. If you want to purchase a great deal it takes diligence and throwing alot of paper in the wind is unnecessary. Let your agent do the dirty work for you to find who will be interested in selling for less than current fair market value, ESPECIALLY in the best locations.
2. Prices have come down considerably even in great locations so chances are the difference between list price and sales price will not result in some huge discount but if you look at market history, you'll see that you're still purchasing at a considerable discount from when the market was hot. Some sellers are still interested in discounting to get the deal done but just because there isn't a big spread doesn't mean you're not making a great purchasing decision.
3. This time of year can sometimes result in getting a better deal especially since we are considered to be out of "high season" You might want to get on it though because several sellers take their properties off the market this time of year because they don't think they can sell. There were over 1,000 expired listings last week as a result.
4. Be prepared to negotiate but leave the worldly economic influences out of your sales pitch to close your deal. Naples is very much a market that marches to the beat of it's own rhythm and historical proof of that can be seen when our market started to cool long before the National economic melt down just as when we started to heat up long before the rest of the country in the beginning of that trend.
For more information regarding Naples real estate, contact me direct.
Best Regards,
Your Naples Smart Girl.
After chatting with a few Naples Florida "investors" lately, I've noticed a bit of a misconception about our Naples Florida real estate market. Hopefully, I can clear some of this up to help you make your next Naples purchase both possible and enjoyable.
The % off the list price has NOTHING to do with the depth of your deal!
For whatever reason, some people are under the impression they are only going to get a great deal if they end up negotiating off a certain percentage of the list price. For example; I had a gentleman last week offer 62% of the list price on a property in Pelican Bay. A Bay Colony home was actually negotiated this year at 63% but this is not a common occurrence and to expect it is actually unrealistic. In fact there's only been one negotiation like that in over 2 years so the probability here is extremely low. This same gentleman stepped up to the plate again toying with the idea of making an offer of 64% off list price on another property. This time, I did tell him, "I think you're wasting your time on this one". He replied, "well what do you think it would take"? My answer, "I think you're going to need to be in the, 700's". His reply,That's ok, I'll pass. I said "ok" and then heard,
CLICK...he hung up on me.
Hey, I didn't tell him that to hurt his feelings or make him angry. I'm not a lazy agent by nature but I am accustomed to respecting people's time including my customer's time and quite frankly my own.
The other thing I'm accustomed to is treating my customers with respect and receiving it from them. I do my job well and I expect to be treated like someone who knows what they're doing. If you're looking for a doormat, order taking real estate agent...just shoot me an email and I'll be happy to refer you, but I'm not her.
Just to make sure I didn't over speak for the seller, I called the listing agent and told her about the conversation. She simply stated I gave him the correct advice.
Please remember the art of the deal is actually how much under market value you purchase and what if any upside opportunity exists. That means if the property is already priced well, you don't actually have to make a really low offer to recognize a great kill.
I'm happy to help you uncover the best Naples Florida real estate deal out there provided there is a fair level of probability in your objective. Time is precious and none of us want to waste it.
Best Regards,
Your Naples Smart Girl
When chatter about the Naples Florida's real estate market bottoming out began last fall my first thought was relief! Hey, it's been a challenge the last few years and if you know anything about our area, you'll know that our market was one of the first to crater before all of the others began to slow largely due to the wild appreciation we saw the few years before.
Naples is a crazy real estate market. I've had trouble watching the appreciation race to the top and sat in awe as I watched prices fall to amazing lows. Following the trends here is certainly not for the weak at heart or for those who think they can pop in every few months and really understand it. A pivotal point for me happened one day about a year or so after I moved down when I was leaving my office for an appointment. I noticed a younger couple staring at a map of Collier County on a wall. The lady commented quietly to her husband, "I can't believe there's not one house on this whole map we can afford". Continuing to my car in an effort to be timely, I couldn't help but think about what she said. My husband and I had barely eaaked into Naples back in 2002. That easily could've been us had we not been able to purchase when we did. Not too long after, the biggest real estate topic was the shortage of affordable housing. Not too long after that our market slowed and front page "affordable housing" news flashes on the Naples Daily News website were replaced with captions like the Naples real estate market is in the toilet.
Even more interesting than the numbers are the behaviors that arise during these crazy market shifts. One of the aspects about real estate I enjoy is the actual job is never the same. Everything trends! This includes property type performance and attitudes among buyers and sellers. While attending an economic presentation this Spring by Hank Fishkind and Associates and came across a graph I think gives a very interesting and informative perspective:
If you consider the behaviors of buyers, sellers and agents in a market, they can tell you a TON about the current real estate market trend. When I came to town back in 2002 we were just coming off a slump mostly created by the effects of 9/11. The attitude of the agents and property owners here was very much in the Despondency phase shown in the graph. Although the 2003 season was unlike anything I had personally seen, the market as a whole fell somewhat flat that year but it quickly changed shortly after. Next was Depression to Hope then Relief...then Optimism hit. By the time Excitement and Thrill came, all hell broke lose and I found my hardest job in real estate was trying to explain to people that they were overpaying for property. They didn't care, they just wanted to get the deal done.
According to the graph above, Fishkind and Associates thinks the Naples market is in the Capitulation/Despondency phase. Based on everything I'm seeing and hearing, I completely agree when it comes to the luxury market (properties listed for over 1 million and luxury locations like Olde Naples, Pelican Bay and Port Royal). But when it comes to the lowest end market (properties listed for $400,000 and less) it has taken another serious turn towards the positive.
For example, over 80% of the product selling right now is in the $400,000 and less price range. Chatter around town is of well priced properties in those price ranges selling within hours of hitting the market and seeing multiple offers. This isn't on just one deal...it's happening repetitively and often. What's more curious is much of this contract activity is happening on a cash basis. Investors are getting back in the game.
One point has remained the same during my 13 years in the business. It is a fact anytime there's a new real estate trend, lowest priced properties start selling first, then traffic increases to medium priced properties and lastly the most expensive properties begin to move. At the end of a real estate trend, lowest priced properties are dead, medium priced property activity is dying fast and highest priced properties perform best.
Inventories are very high right now in areas like Pelican Bay, Park Shore, Bay Colony, Olde Naples and Port Royal and although traffic isn't at a dead stop it's very light. There are also some AMAZING prices out there.
What's next? I have a suspicion that those folks at Fishkind and Associates know what they're talking about. Based on their findings and what I'm seeing and hearing everyday on the street, I'd have to say I'm personally at the Hope stage. There's too many signs pointing to new life.
This means:
If you are a buyer looking at property under $500,000 and you want a deal: You need to not move swiftly. Deals are out there but you are not alone. Cash is king but you are not the only cash buyer so don't expect to use that as your only advantage if competing. Attempting to negotiate heavily off best priced properties in the best locations will help you lose your deal. I wouldn't encourage you to muddy your offer with difficult terms and I would focus more on the property than trendy keywords like short sale and foreclosure. There are still alot of end users out there willing to sell for less. This will take a great deal of hassle out of your mission.
If you are a buyer looking at property between $500,000 and $1,000,000 and you want a deal: You don't have to move as fast but be diligent. This price range is next to heat up. Your best negotiation stance is now. If I were you, I wouldn't wait til next season. Cash is king but you are not alone. You may have a better shot at negotiating on properties in this price range as traffic is not as heavy.
If you are a buyer looking at property between $1,000,000 and $3,000,000 and you want a deal: There has been alot of traffic from buyers who are making low offers with the idea that the market is going to come down even more. Many sellers are not interested in selling at huge unfounded discounts although a small percentage will. If you are interested in purchasing at current market value, now is your time to get in the game.
If you are a buyer looking at property between $3,000,000 and above and you want a deal: You are in a great negotiating spot due to the fact that there is probably more time to go before this market heats up again. Keep in mind if you are looking for the best deal, you are looking for the seller who wants out now compared to those who have no urgency in selling. There have been some tremendous negotiations in areas like Port Royal and inventories are high. Now is the time!
Best Regards,
Your Naples Smart Girl!
Inquiries regarding Tiburon Naples Florida have been on the rise lately so I went ahead and created a drop down list on my Naples Florida real estate website to help you search by Tiburon Community a little easier. From there you'll have direct links to each of the 8 subdivisions located within Tiburon.
Those Tiburon neighborhoods are:
Tiburon is known for its world class amenities and the Ritz Carlton Golf Resort located within Tiburon.
For more information regarding Tiburon, contact me direct!
Best Regards,
Your Naples Smart Girl!
239-595-6223
I've had a few people inquire about Moorings Beachfront listings lately and noticed there was no easy way to search those listings on any site I could find so i added them to my Naples Florida real estate website today to make it easier to search Moorings Beachfront properties.
From the drop down list located on every Naples Moorings page on my site you can one click to every subdivision located on the beach in the Moorings.
Here's the list:
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Naples Florida Real Estate including information about Naples Florida homes, condos and lifestyle properties along with other Naples Florida real estate happenings. Smart Girl, Great Results!
My real estate career began in the fall of 1996 in a resort community located forty-five minutes southwest of Fort Worth, Texas. After nearly six years and achieving the 8th highest volume producing REALTOR in Granbury, we moved to Naples Florida. Gorgeous white sandy beaches, lush tropical vegetation and the most wonderful sunsets in the world are just part of the charm that makes selling Naples effortless and enjoyable.
To be a Naples Realtor in the Naples real estate market takes a great deal of tenacity. My enthusiasm for my career and the pleasure experienced from a job well done keeps me on the cutting edge of providing excellent service. What makes me happiest is performing like a star for my clients. This is my passion and the reason why becomming a great Naples Florida Realtor was a natural process.
There is a great deal to consider when purchasing property especially if you're purchasing in a market you're not familiar with. With my experience, I know all the right questions to ask so I can insure you're locating properties that best fit your requirements and also clue you in on aspects you may not have considered. Not all buyers are purchasing for the same reason. If you're an investor, typically, your eye is on the bottom line. Looking for a vacation getaway? Enjoyment and location may be more important to you. Raising a family and want to be close to a specific school? No problem! I can easily help you identify what your objective is and help you accomplish your goal even if you may not know exactly what your goal is.
Here are additional services you can expect when choosing me to assist you with your purchase:
Automatic Property Notification: It has never been easier to find a property you can get excited about. Simply fill out a quick property profile and relax! Listings fitting your description will be automatically e-mailed to you as often as every day or weekly. When a property peaks your interest, give me a shout and we'll make arrangements to see it. Please give me as much notice possible so I can make arrangements for your properties of interest to be available. Set up Automatic Property Notification
Extensive Market Knowledge: I know my market! I help you make the best purchasing decision by giving you the run down about prices, locations, general market expectations and so forth. In fact, if I don't know it, I don't do it but I know somebody else who does and I will happily share that contact information with you. Why? Who want's to work with someone less than an expert...furthermore who wants to be less than an expert at what they do?
Excellent Negotiating Skills: I can save you time, money and frustration by offering information that will help you land the best deal with the best terms. It's important to have someone on your side that can assist you. Sometimes agents mistake negotiations with a "lose-lose" mentality. Unrealistic negotiation expectations or clueless business savvy more often than not will make a deal hard to complete or in some cases down right impossible. I know the difference and can negotiate effectively even with others who have adopted this sort of theory.
Effective Communication: By keeping you three steps ahead of the game, you'll know what to expect and what not to expect giving you the best opportunity to game plan from first showing to closing. Isn't it nice to have someone else watching your timelines for you on contracts so you don't miss important dates like mortgage loan contingency deadlines and inspection timelines?
One Stop Shopping: I have a whole team of people who help me and my clients get a deal done on time and without a hassle. They work like I do! This means when you're looking for a lender, title company, attorney, inspectors, appraisers, surveyors etc. you can be assured that I have the contact information for the best person for the job. You may need to depend on lots of people to get your deal done and sometimes there's nothing worse than when you have someone who doesn't know how to do their job effectively. I've seen some service providers kill the deal for people and I can insure quality service regardless of what service you're looking for.
A Straight Forward Approach: One of my favorite aspects about my job is giving you the information you need to make or in some cases, not make a decision. Some agents confuse this concept with a, "you need to do as I say" or "you're on a need to know basis" mentality. Not me! My job is to tell you what I know, I might even tell you what I think (if you ask) but when it's time for you to tell me which way you want to go, it's all yours. I respect your decision and know that there will never come a time when you say, "Gee Shannon, I wish you would've told us....".
My concept is simple! I want your deal today but furthermore, I want your sister's deal, your boss's deal, your grandmother's deal, your next deal, the one after that and the next one and...well I think you get my point. The best way to achieve the luxury of your repeat and referral business is to offer an exceptional service.
You want a superstar to list you property just like you want a superstar to do anything for you that requires service and expertise. Marketing Naples real estate is something I am passionate about and something many say I do better than anybody else. Click the pictures below for descriptions of the listing services I provide to those who choose me to sell their real estate. Click here for more listing services!
Specializing in the Naples Florida luxury lifestyle properties including:
Specializing in the Naples, Florida luxury communities including
Shannon Lefevre is a fabulous Realtor. Her knowledge of the Naples housing market was second to none, she was always in control, and never seemed to be caught off guard or surprised by any situation that arose. Shannon was always on top of my open houses and provided me with prompt and honest feedback so I could make important decisions with confidence. Shannon was someone who listened to my goals and helped lead me in a direction that was so easy to follow. Meeting my goals took no time at all, and when I was working with Shannon, I never felt like just another client. Instead, I felt like I was her only client and also a friend.
Kathy Hoeft MPT ATC
Director of Fitness
The Health Club Of Naples
To whom it may concern:
I welcome the opportunity to briefly describe the excellent job that Shannon did in assisting us with our real estate problem. We were attempting to purchase a property 60 miles from where we were living. Shannon not only brought the contracts 60-70 miles for our signatures, but assisted in arranging for inspections, repairs and helped coordinate the closing date to coincide with all the various schedules. Any calls placed to Shannon were answered promptly and always with a positive and happy attitude. Shannon is one of those rare individuals who combine complete professionalism with a great attitude regarding her clients. Currently we are involved in another property transaction with Shannon, which I know will be handled with as much enthusiasm and as efficiently as our first experience.
Dr. & Mrs. William McCallum
Shannon has worked really hard and went beyond the call of duty. We never anticipated for things to move as quickly and smoothly as they did. She is a pleasure to work with.
Sallie Bailey
Shannon was extremely helpful and truthful. She quickly answered our questions and I was very pleased with her personal care.
Larry Barnes
When we first met Shannon, we were both struck by her enthusiasm and dedication for her profession. She was knowledgeable of property availability, financing options and the legal aspects of buying and selling. Instead of just trying to sell us any house, she really set out on a quest to find us just the right house; one that would suit our needs and desires. She was available to answer any and all of our questions from the writing of our contract through closing. She acted with great diplomacy when dealing with the seller who was a seasoned agent. Shannon walked us through our search for a home from start to finish and turned what can be a very intimidating experience into something very pleasurable. Not only did we find the home we wanted, we found a new friend in the process.
Ronald & Jeannie Stinson
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