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Monday, 17 October 2016

Hello Naples Friends,

It’s time for my Port Royal Naples, Florida market update. Some of you have already made it back. Welcome! We’ve been busy sprucing things up and making improvements all over town. Some of you are currently preparing to come down. Safe travels and hope to see you soon.

If you’re buying or selling a Port Royal home, here’s everything you need to know to get started.

The current Port Royal real estate market:
Active - 49
Pending - 2
Closed during past 365 days - 33
Closed year before - 38
Closed year before that - 38

Sales are down 14% over the past two years.
17 months of inventory exist which is up 3 months since my Port Royal report last November.
Lowest price listing is an off water, updated home listed for $4,500,000. Last year the lowest priced home was on the market for just under $4,100,000.
Highest priced listing is just under $61,000,000 with a recent price increase from $59,900,000….mmm..ok
There are 4 listings currently showing 30 days of market time or less but in actuality 2 of those listings are recycled.

2 Port Royal homes priced between $6,000,000 and $9,000,000 are currently under contract and sold relatively quickly compared to the average 254 day market time for the properties sold during the past 12 months.

Market time as a whole appears to be down 7% compared to sales during the past 12 months.

There are two segments of the market I’m really excited about!

New Construction availability in Port Royal:
2 homes with an expected finish in 2017.
6 homes built in 2016.
2 homes built in 2015.
3 homes built in 2014.

13 new or near new properties are available! Designs are changing too! Here’s what sort of design styles you can expect with these new construction Port Royal properties:
2 Costal Contemporary
4 Bermuda Contemporary
Bahamian, West Indies
3 Mediterranean Transitional
“Classic” lol

You’ll want to be careful while purchasing from afar. Technological advances are making it easier to market properties that simply don’t exist yet so don’t let virtual tours, photos and videos fool you. What you see isn’t exactly what you’re getting. It’s good to at least do a FaceTime visit through the house or at least let your Realtor take some video for you so you can see where the home is in the building process for homes under construction. You’ll also want to verify your surroundings too. Pools in front yards can throw you off with your orientation and that’s actually happening here. Due diligence is key to insure your expectations are in line with reality.

Builders in all locations in Naples come in all sorts of craftsmanship and quality. Port Royal is no different. Don’t let price and location trick you into believing everything is made from the same quality materials and pieced together by the same master tradesmen.

Beachfront Fans UNITE!
There are 6 Port Royal beachfront homes on the market today! Prices on the beach vary. Prices start at $14,900,000 and continue over $60,000,000 but there have been a couple of really nice price reductions within the last few weeks. If you’ve been half watching, it may be time to get serious about an offer.

Price per foot update:
Average price per foot sold last year was $1,416.
During the past 12 months that’s dropped to $1,326…or 5%.
We may continue to see this with the increase in inventory but keep in mind, that’s average for the whole neighborhood including off water lots. Beachfront price per foot and new construction is going to run substantially higher than the neighborhood average for all the obvious reasons.

Current list price per square foot average is coming in at $2,171.
That’s a big difference. If you’re a numbers geek like I am, you have to know many buyers will pay a premium for more waterfront footage or newer properties. Location to the club can also be a factor so if you’re having trouble understanding values, it’s good to work with an agent who can intelligently decipher what a fair offer looks like and somebody who has a great working relationship with the other agents in the area….hint hint, wink wink.

The signs sticking out most here:

There have been 10 sales with list prices over $10,000,000 during the past year. That’s down nearly 25% compared to the year before. There’s 26 homes listed over $10,000,000 on the market now or 31 months of inventory. That should be exceptionally troublesome for any seller listed over $10,000,000 and equally interesting to any buyer looking to spend over $10,000,000.

Pocket listings are dwindling meaning seller’s and agents are getting less confident about the market and putting properties on MLS to catch all eyeballs.

Terminations, expired, withdraws and contract back outs are all down from the year before. This tells me owners and agents understand the shift in the market.

Sales prices are down 5%. That tiny reduction is allowing sellers to capture 92% of their list price compared to 91% the year before.

Of the 49 listings in Port Royal, 13 homes have reduced their price. Some quite substantially while a couple were reduced so little it’s not even worth mentioning….yawn.

Port Royal Buyers:

You should feel very accommodated in the upper brackets right now. There’s been 1 sale during the past year for over $15,000,000. There are 15 homes priced over that sales price right now. There were 4 sales over $15,000,000 the year before that. That is crazy troublesome especially to spec builders. This is an excellent time to see if you can get something negotiated out! There could be some real deal making if you just stick a toe in and see what can be done!

If you don’t want to do the heavy lifting while negotiating, there are 3 homes right now priced under $1,000/foot. If you’re a price/square foot buyer, you may want to hit those first!

If high market times turn you on, then you may be interested in knowing there are 8 homes well past the one year mark. In fact there’s one that has passed the 2 year mark. Market times have a tendency to fool people into thinking there’s something wrong with the property. Here’s an embarrassing fact about our market. Many homeowners do not want to be inconvenienced with showing their property while they’re in town entertaining friends and family. The lion share of big money buyers are here during season and simply don’t want to be inconvenienced to come back after season. This can kill any opportunities for a deal and if the sellers aren’t that motivated, the clock runs up. Lofty list prices can also do the same but the end result means you’re still dealing with a less than motivated seller. Check pricing history for more details about whether or not a seller looks interested in selling and by all means, don’t hesitate to talk to your agent. Chances are they can find out what’s really going on provided you’re working with someone smart.

Port Royal Sellers

Some sellers are getting aggressive on pricing. Make sure your objective matches your price. If you want to sell this upcoming season, you have to be diligent and responsive if you’re not getting the traffic your property requires to land contract producing results. There are ways to increase the value of your home. If you don’t know what they are, call me. A client asked me the other day when season starts. The fake answer is October 1st or January 1st. The real answer is when it gets cold up north. It’s smart to go on the market now. The temperatures across most of our northern feeder markets are going to drop anywhere from 10-25 degrees this week. That’s when we start to see a shake up. Properties should be in the best showing condition possible. It’s been several years since you’ve had so much competition. You’ll certainly want an agent with a global reach and there is no other company with higher performance than John R. Wood who can deliver those results. Call me for details regarding how far our reach is and those who compete with us. The numbers are staggering.

Ok, that’s all for now. While you’re here you might as well check out:
Port Royal homes
Port Royal deals
Port Royal sales

To get your home listed or to set an appointment to see Port Royal or any of our other fabulous Naples communities, contact me direct!

Best Regards,

Shannon Lefevre, PA

Posted by: [email protected] (Shannon Lefevre, PA) AT 11:33 am   |  Permalink   |  0 Comments  |  Email
Friday, 07 October 2016

Hello Naples Friends!

Pelican Bay condos

Happy Fall! Here's my Pelican Bay low-rise condo market report. If you missed it, here’s my Pelican Bay high-rise market report. Ok, lots to talk about today so here we go:


48 Active Pelican Bay low-rise condos  
135 days average market time.
$636,248 Average list price.
$381 Average price per square foot.


5 Pending Pelican Bay low-rise condos
82 days average market time.
$471,580 Average list price.
$297 Average price per square foot.

Closed during the last year

87 Pelican Bay low-rise condos
78 days average market time.
$616,404 Average list price.
$592,435 Average sales price.
$363 Average list price per square foot.
$349 Average sales price per square foot.
96% of list price to sales price ratio

The Pelican Bay low-rise condo market has performed exceptionally and currently only has 6 months of inventory but I feel like the market is slowing a bit. That’s great news for buyers! There have been 24 price reductions recorded with the current inventory so if you were hunting around last year, you may see some relief! Market time has gone up considerably which means sellers should be happier to accommodate you compared to the last several years as well!

Here’s a snapshot report of each Pelican Bay low-rise development:

Avalon at Pelican Bay: STABLE ~ GOOD DEAL HERE! 2 new listings during past 30 days!
3 Active
3 Sold past year
1 year of inventory

Barrington Club at Pelican Bay UNDERSUPPLIED WE NEED LISTINGS HERE! 1 new listing during past 30 days!
2 Active
5 Sold past year
7 months of inventory

Breakwater at Pelican Bay SLIGHTLY OVERSUPPLIED ~ CLEAR DEAL IN HERE! 1 new listing during past 30 days!
8 Active
7 Sold past year
13 months of inventory

Calais at Pelican Bay UNDERSUPPLIED WE NEED LISTINGS HERE! 1 new listing during past 30 days!
3 Active
1 Pending
2 Sold past year
1 year of inventory

Chanteclair Manor at Pelican Bay  
1 Active

Crescent at Pelican Bay STABLE LOWER PRICES HERE!
2 Active
2 Sold during past year
1 year of inventory

Glencove at Pelican Bay NEW PRICES HERE!
2 Active
1 Pending
3 Sold during past year
1 year of inventory

4 Active
17 Sold during past year
3 months of inventory

Laurel Oaks at Pelican Bay HUGE DEAL HERE!
2 Active
1 Pending
6 Sold during past year
4 months of inventory

Lugano at Pelican Bay WE NEED LISTINGS HERE!
1 Sold during past year

Pebble Creek at Pelican Bay 2 GOOD DEALS HERE!
5 Active
7 Sold during past year
8 months of inventory

Pointe at Pelican Bay PRETTY ONE IN HERE!
2 Active
6 Sold during past year
4 months of inventory here

Renaissance at Pelican Bay NEW LISTING HERE!
1 Active
1 Sold during past year

San Marino at Pelican Bay AGGH WE NEED LISTINGS HERE!
1 Pending
4 Sold during past year

Sanctuary at Pelican Bay CLEAR DEAL IN HERE!
4 Active
1 Pending
2 Sold during past year

Serendipity at Pelican Bay NEW LISTINGS HERE!
2 Active
6 Sold during past year

St. Lucia at Pelican Bay WE NEED LISTINGS HERE
1 Sale during past year

St. Simone at Pelican Bay 2 REALLY NICE ONES HERE!
3 Active

St. Thomas at Pelican Bay NEW LISTINGS HERE!
2 Active

St. Vincents at Pelican Bay ….
2 Active
1 Pending
2 Sales during past year

Valencia at Pelican Bay  …..
2 Active
5 Sales during past year

Willowbrook at Pelican Bay WE NEED LISTINGS HERE!!!
7 Sales during past year

SELLERS~ Some folks already on the market are getting competitive with their pricing. If your true objective is to sell, make sure you price it well this year. If you have a unit in original condition, expect to discount your price. We have a portion of our buyer pool who will choose to pay more if they don’t have to do a lot of work.  If you have an exceptional unit, you should still be able to get a good value for your property. Completely remodeled units are still few and far between and there is a demand. Make sure you’re going with an experienced agent this year. The market is changing. Agents who entered the market during the past 5 years will not know how to respond to todays buyers. This will be very important if you want a successful negotiation and easy escrow period. Expect buyers to demand repairs if something is not working in its intended condition. There have been 7 Pelican Bay low-rise condos fell out of contract so far this year. Property condition is the biggest reason with cold feet coming in second. You can’t do much about cold feet but you can do a lot when it comes to property condition and keeping your deal together. Even if you’re not planning on coming down, we can orchestrate the group of vendors it takes to make sure you get repairs done in a timely manner. Call us today to get started!

BUYERS~ Some buyers before you have gotten exceptional deals this year but not everybody will be willing to discount like others have. We can help you identify deals but don’t be sad if you don’t get your price. It might be wise to choose more than one property if you are buying with your brain instead of your heart this year. If you are buying with your heart, there are some nice remodeled properties to choose from but you should expect to pay premium pricing because those units are still few and far between. There is a portion of our buyer pool who simply don’t want to do a remodel and will be willing to pay the price. If you’re not one of them, you should be able to get discounts on properties needing work. We can help you identify vendors who can assist you. Many condo associations do not allow work during season so this is a pefect time to purchase, camp out this season while making your renovation plans and get permits into the county since it’s taking several weeks not to get approved. That way you can have all your ducks in a row by the time you can start swinging the hammers.

Ok, that’s all for today. If you have any questions about Pelican Bay or any other location in Naples, Florida, call me!

Still looking for something to read? Check out my recent posts about:
Pelican Bay villas
Pelican Bay single family homes

I see I have some new subscribers this week! Welcome and thank you for joining me! If you know somebody else who would like to get my Naples Real Estate updates, please encourage them to sign up below!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!
Direct & Text:  239-595-6223

Posted by: [email protected] (Shannon Lefevre, PA) AT 01:00 pm   |  Permalink   |  0 Comments  |  Email
Tuesday, 04 October 2016

Hello Naples Friends!

Have you been patiently waiting for my Pelican Bay villa market report? Season started early this year with drop ins from clients attempting to get a jump on the Naples real estate game before season. So sorry for my delay! Let's get started!

Vizcaya Bay Colony

Here are the Pelican Bay villa statistics:

17 Active listings (only 2 of those are less than 30 days old).
128 Average days on the market.
$1,604,582 Average list price.
$590 Average list/square foot.

1 Pending
176 days on the market.
$850,000 list price.
$437/square foot.

Sold during the past year:
34 Sold.
41 Average days on the market.
$1,367,353 Average list price.
$571 Average list/square foot.
95% Average list price to sales price ratio.

Buyers~ Happy pre-season! The best news I can offer you is now you have some talking points to discuss during your negotiations like, "check out the increase in market time". There's only 6 months of inventory right now though which could mean prices could continue to rise so if you see something you like, STRIKE before the rest of them get here. I'm hearing very few people complain about the same old tired complaints from last year like "Brexit" and "Election year" stay away from those scary tactics if at all possible when discussing prices.  Owners and agents alike are bored with it and it won't gain you much traction on price reductions. We have lots of new interesting things we can discuss to help you negotiate even if you don't. It's October again so sellers and seller's agents are once again somewhat confident but there's still some deals to be had. The lowest priced villa right now is kissing $900,000 with lowest price per square foot in the low $400's. There's only one Bay Colony villa on the market right now. When you're the only single girl in town, you can pretty much count on some dating options so if Bay Colony is your preference, DO NOT DELAY!

There are 5 units that have had some pretty nice remodeling done so not every villa is a project. If you don't want to do a ton of work to your new Pelican Bay villa, you're going to want to make a selection now and check out as if it's closing time.

If you like projects, you should be able to buy at a pretty decent discount and end up with something magnificent and since there are lots in that sort of condition, now might be an excellent time to do one for a hobby and get it back on the market!

Did you know Pelican Bay villas were the first to take off after the last downturn? If you're one of those people who are looking to minimize the distance of the valley of lower pricing, Pelican Bay villas may be a smart thing for you to jump into. Buy a junker, fix it up, sell it or enjoy it for a few years and then you might be sitting in a sweet position if the market makes a correction anytime soon!

Sellers~ It looks like your Pelican Bay villa friends haven't made it to the party yet! If you're thinking about selling, get on it! Nothing like being first to the soiree and having lots of eligible bachelors checking you out since the other girls haven't made it to the scene yet. It's a great way to fill up your dance card that's for sure! Buyers are already streaming in so if I were you, I'd call your favorite smart girl and get that baby on the market! Do your best to air out stale air and get it looking sharp! I know...flowers aren't in yet for most of you...sigh. That's just something buyers are going to have to overlook until later in the month. Is your villa showing her age a little? First decide if it's botox (painting, removing furniture past it's price and simple staging improvements) or a full face lift (new baths, kitchens etc.) that needs to be done. Botox is fast and easy and depending on your results, improvements can make dramatic differences in getting great offers. If it's a full on face lift that's needed to get top dollar, price it to move if you don't have time because today's buyers don't like to get their hands dirty! They will if it's a deal but if it's too much work, they'll get something else or even wait for something better! Same ole tired marketing isn't going to be as effective this year either. You want to go with a girl who has a world wide reach. I'm placing exceptionally well on all the major search engines and my social media presence is off the charts when it comes to catching eyeballs!

Ok, regardless whether you're buying or selling, go with a Pelican Bay villa pro like myself. I'll make it easy, fun and help you accomplish what you intended to do!

Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!


Posted by: [email protected] (Shannon Lefevre, PA) AT 11:13 am   |  Permalink   |  0 Comments  |  Email

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A compilation of the Naples Florida real estate market and other informational topics regarding Naples Florida real estate. Your Naples Florida blog resource.
Naples Florida Real Estate Smart Girl Shannon Lefevre

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Shannon Lefevre, PA

John R. Wood Properties

3255 Tamiami Trail N. Naples, Florida 34103
Phone: 239-595-6223 URL of Map
Fax: 239-325-2876
Email: Shannon(at)ShannonLefevre.com
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Pages on this Naples Florida real estate website are updated continuously however, the accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.


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