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Pssst: Are Closing Prices Catching Up To Asking Prices? Yep.

Posted on Wednesday, January 15, 2014



A quick look at Market Smith analytical services through Coldwell Banker shows a steady climb of closing prices vs. asking prices. Just what we would expect in a market with shorter supplies. Sellers are able to negotiate harder knowing supplies are down and volumes are holding up ok so far.

When buyers ask us for advice on bids against asking prices they often look at average closing prices as a percentage of asking prices and see numbers like 92% or 95%.  Not a bad strategy.  But if you are looking at well priced property in good condition just recently on the market be careful.  Statistics in this case are just averages – your favorite place may go closer to asking price.  Delays in negotiations can give other buyers time to jump in a bidding war.  Just be aware you are not alone as a buyer – you may be competing with others for great properties.

There are a few caveats however which sellers should keep in mind even in these heady days of Naples property resurgence. Tips from our past articles like condition still matters (a lot of buyers are still shying away from projects), marketing still matters and yes price still matters – there comes a point when buyers will shy away from a price even in a tight market.

Would you like to know more about Naples Real Estate or things to do while living or visiting here? Just give us a call at 239.595.3921. Or if you like download a copy of our free eBook Understanding Naples Real Estate
Hope to meet and talk with you soon,

Mark Goebel PA & Nan Goebel PA
Co-Founders 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
Facebook: NaplesBestAddresses

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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.
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Some of the data relating to Naples homes for sale and Naples real estate for sale on the 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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