There's some good buys out right now (Naples: condos, low crime)

[Naplesfan]

Prices are adjusting. I think I just made the best waterfront deal I've made. Open sea access drive in boat slip. sailboat tie up, davit lifts. 2 garages and it's a furnished duplex used for seasonal rental. They came down over 120g off the listed price.


There should be some good deals for buyers out there. It doesn't look like a sellers market.



Naplesfan

[JPrzybylski07]

Sweet!

[Corrie22]

Sounds like a really great deal....congratulations Nap!!

[Marc Middleton]

Originally Posted by Naplesfan

It doesn't look like a sellers market.



Naplesfan

Only in the lower markets of Naples like the $300k-$400k range. The $600k-$900k stuff is taking awhile and lots of over priced listings with unrealistic sellers.

A lot of Naples is the "i don't have to buy" clientele so you have to stage the home, price it right THE FIRST time and really do some good marketing. Lots of buyers out there, but you have to entice them if you are in the upper end of the Sub-Million range. Not to mention a lot of new construction pushing down the resale market. If you bought a new home in the last 2-3 years, you aren't going to get what you paid for..especially if you kept the 'builder grade' packages and didn't upgrade.

Still, Naples is a great value given what you get (beach access, cleanliness, great schools, low crime, Florida taxes, etc.) compared to other parts of the country.

Be patient and you'll find a great deal!

[bbtondo]

I have two sets of friends who recently sold their Naples condos in a week. Both condos were under $300,000 They both bought in the over $400,000 price range. We went looking at homes with them and most of the homes they looked at all went into contract and are no longer available.

In my neighborhood the houses that are priced right are going into contract. The homes that are priced too high are sitting. You can watch them when they're listed at a crazy high price and see them lowering the price very slowly over a year. Only when they get to a realistic price do they go into contract. Maybe they're looking for a buyer who has no clue what prices should be.

[Naplesfan]

I got this one for a hair over 500k. I walked into a good deal.

Naplesfan

[Taksan]

Originally Posted by Marc Middleton

price it right THE FIRST time

Best advice you can give a seller

Most frequently ignored advice too

It occurs in my world too ! I walked away laughing and scratching my head at how they expect anyone to be interested in the Strand mall at a 5.6 % cap rate considering it needs a bit of updating and the new Sprouts just opened.

[logybogy]

I always bid what I think a property is worth, even if I offend the seller. They get mad and more than once I've heard back 6 months or a year later asking if I was still interested. I say nope! I've moved on. Should have priced it right the first time.

[FireStation46]

Prices ebb and flow. It all depends on which side of the equation you are in relative to short term and long term depreciation/appreciation

[Marc Middleton]

Originally Posted by Taksan

Best advice you can give a seller

Most frequently ignored advice too

Yeah its my job to teach the agents how to get the sellers to heed this advice and not ignore it. Overpriced listings hurt everyone!