Search This Blog

Friday, February 8, 2013

What's Going On In The Naples Real Estate Market?

Everyday people ask, "What's going on in the Naples Real Estate market"? This isn't a 'one size fits all' question. As always, each market segment, both geographically as well as price-point has its own set of rules and trends.

Earlier today I was showing condos along the beach. When they didn't like anything I had selected for them, they let me know they'd be patient and would wait for a short sale or a foreclosure. I think she had a hard time believing me when I told her that not only are there none now, there were very few along the beach even when the market was down. "Oh, I'll wait!"  Wait?  Educating buyers is part of the buying process. What she wants is nearly impossible: "We want to be on the beach with a great view, it must have 3 bathrooms, I want a doorman, pets must be allowed, in a newer building, I don't mind changing minor things like paint and flooring as long as the building is perfect and the view is spectacular...oh yes, and it must allow rentals....and I want all this for under $1  million dollars, but less would be better....yes, and I will wait for a desperate seller."  ~We had a great rapport, and I know she is going to trust me to find her the perfect Naples Condo, but my first job is to gently guide her through the process and educate her about the Naples Real Estate market. I asked her if she'd let me find her exactly what she is looking for and show it to her without telling her the price...That usually is an eye-opener. Typically that motivates the buyer to reprioritize and/or compromise...and in some cases, they decide to go up in price. 

Today's buyers don't understand the market...many are still making low offers, putting the seller in a hostile position. It really is our job, more than ever, to educate both parties to a transaction. We have a lot of factors weighing in against our professional opinion. The internet for one, and specifically sites like zillow, often give buyers a false evaluation of a property's true value. 

Seller's on the other hand, with all the talk about low inventories and prices going up, also need to be guided and educated. If a home or condo is not getting showings, it is probably price. If a home or condo IS getting showings but no offers, it is almost always price! Any good agent is simply trying to help a customer meet their housing objectives.

Buyers AND sellers need to find a real estate professional that they like and trust. If you are interested in learning more about what is going on in a particular segment of the Naples Florida Real Estate market, I hope you will call The Harris Peppe Team today. 239.370.0574  Collectively we have served the greater Naples area for over 50 years. We are here to help you with all your real estate needs!

Thank you, and make it a great day!

The Naples Real Estate Blogger

Monday, February 4, 2013

"I'm Late, I'm Late, For a Very Important Date!"

To quote a character from one of my all time favorite stories, "I'm late, I'm late, for a very important date!" This is exactly what Chip and I have been saying, all too often lately, to Customers, Friends, Family, Inspectors, Photographers...You name it, they've waited for us. I am never late, so for me, this is quite a new experience...Chip on the other hand, notoriously triple books, but somehow manages to keep everyone happy and everything running smoothly. Me, I come rushing in apologetically seeking forgiveness even if I am five minutes early! 

I had every good intention to blog regularly in the new year. Here we are, first week of February, and I find myself pressed for time to just take care of the mandatory details of running a real estate business, let alone the more enjoyable, non-essential details such as blogging! We haven't seen the phones ringing off the hook like this in years! Our website inquiries are almost house traffic is way up...the activity out on Fifth Avenue is constant and the snowbirds are all happy to be friends in the hospitality business say they are booked solidly....the rental agents in my office are having a banner year...sales are up...pendings are up...Life is great, be it crazy-busy and hectic, in paradise!

I'll try to post some Naples Real Estate updates later this week. In the meantime, there are still a lot of great buys out there, and if you or someone you know is interested in getting some information please do not hesitate to contact us. The Harris Peppe Team is looking forward to meeting you, assisting you with all your real estate needs, and earning your business! 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger