Posted on Wednesday, August 29, 2012
This season a gentleman walked into one of our open houses and made an offer. When other “fence sitters” heard the property was of interest another offer came in. It certainly does not feel like a slow market when this happens. Maybe the market really is picking up. In this short supply market in Naples, Florida multiple offers are starting to emerge again.
We recently attended the Coldwell Banker Previews meeting at the Breakers in Palm Beach and learned the same thing – multiple offers on Jupiter and Lauderdale properties. What may be surprising to buyers today, particularly if they are from slower up north markets – is Naples real estate is moving again. Last night we were lining up on some vacant land to build a spec house only to find another offer beat us to the punch. We successfully won a bid for a home on Marco two weeks ago – but again competitive. We are not saying the go-go days on 2003-2004 are back but things are picking up.
Naples real estate seems to be following a broader tend. Florida Realtor reported August 23, 2012 (http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=280151) “Bidding wars are back as the housing market continues its recovery.After years of lackluster sales and sagging prices, demand is growing while the number of homes for sale shrinks.Those market conditions drive multiple offers in many areas, but real estate agents and other housing followers say sellers still can take practical steps to boost the level of interest among buyers.”
Ok, so what to do if you are buyer here in Naples? Be ready. Be ready with cash or a pre-approval letter first. Be ready to turn around offers and counter offers quickly. Do not expect to set closing dates far in the future as the seller – after potentially waiting months and years to get to this point – may not want to take the property off the market for you. Sellers – be a little choosy but the market is not that great. When you find an offer you like you might think hard about taking it.
All the best and have a great day.
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.
Some of the data relating to 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.
Mark Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 Email: firstname.lastname@example.org NaplesBestAddresses.com Facebook: NaplesBestAddresses Twitter @mcgoebel Naples Best Address – Where The Best Address in Naples Real Estate Is Yours