Posted on Thursday, July 10, 2014
Readers of our blog will know supply shortages in the face of continuing demand are driving up real estate prices in Naples, Florida. Virtually every neighborhood we track at Naples Best Addresses shows the same pattern; declining supply and steady volume (see
http://nangoebel.wordpress.com/2014/07/01/continued-real-estate-growth-and-price-appreciation/). As long as this pattern holds prices should rise as willing buyers compete for fewer and fewer properties. We predicted May price changes in April as the data lags a bit, but it was no surprise the recently released May price report shows another significant increase.
According to the Naples News today and a Core Logic report “prices increased 14.3 percent in May from the year before when distressed sales were included, and 12.9 percent when they were excluded.” Please see
http://www.naplesnews.com/business/home-sale-prices-still-soaring-in-collier-and-lee-national-research-firms-say_42259674 for the full article.
Buyers should not despair but a few measures will mean a great deal. In this market you are going to need to see new opportunities quickly. We like to help our buyers with great search tools which send you notices with price changes and new offerings. You also need to move quickly. Don’t just jump at things obviously but be ready to move on opportunities when they appear. Also know sellers are going to be less willing to negotiate in this market. We also like to help our buyers proactively “knock on doors” if they are set on a target neighborhood and nothing is for sale on the open market. This market takes some work for our buyers and we are happy to help.
Sellers should be feeling pretty good these days. Prices have rebounded from the Great Recession market (not all the way back however) and properties are moving. However some caution should be given to over pricing even in this market. Setting an initial high price and hoping the market will rise to you is not the best strategy as studies show properties will receive their bet offer in the first four weeks of showing. We counsel our clients to consider property condition improvements or price reductions if you do not received an offer or repeat visit within four weeks of listing. In addition new construction opportunities are on the rise and providing a tempting alternative to the resale market.
We enjoy helping our clients in any market. We have toured our owned in Naples for nearly forty years and call this wonderful paradise our full-time home. Please give us a call at 239.595.3921 and we would be pleased to help you. Also consider reading our book “Understanding Naples Real Estate” to get you started on your real estate search at https://www.naplesbestaddresses.com/offer/ or just give us a call about things to do here.
We hope to meet and talk with you soon,
Mark Goebel PA, Nan Goebel PA and David Goebel, PA
Co-Founders of the Naples Best Addresses team
Coldwell Banker Mark Goebel, PA and Nan Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 239.595.3920 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier County, The Race For The Cure Citrus Ride, The Seacrest Country Day School and The Naples Winter Wine Festival.
Some of the data relating to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
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