After years of being in the driver’s seat, I’m getting the vibe that those wanting to buy a Naples home are feeling a bit uncomfortable in this recovering real estate market.
Buyers got used to calling the shots … They would think nothing of asking sellers to pay closing costs, to throw in the car with the house, or to fix every defective inspection item, no matter how small. And they would brazenly put in low-ball offers that would even have their Realtor embarrassed to present it.
In all fairness, the market was different then. Sellers were following the market down, down, down … and buyers knew they had the upper hand.
But today the tide has shifted.
Buyers are finding themselves in multiple offer situations and not just on distressed sales. With Naples resale inventory at historic low levels, even some regular sales (e.g. not a short sale or a foreclosure) are in demand and selling above asking price. For example, of the 37 Naples homes and condos that closed on April 18, four sold at or above asking price. And 17 of the 37 were sold at between 1-5 percent below asking price.
Buyers need to be prepared. Sellers are holding a bit more firmly to price. And, if the most recent sales in a particular community warrant that seller response, buyers with a smug attitude will not be well received. It is best to have an educated Realtor educate you on the market conditions before you go in half-cocked.
There are still buyers out there thinking they can get a great, move-in-ready Naples home for cheap. I’m not sure what media reports they are tuning into, but buyers need to realize that Naples is a unique market in Florida.
For instance, in Naples, as of April 18, there were only 106 single-family homes for sale priced between $200,000 and $250,000. Of those, 12 are foreclosures, 10 are short sales, and less than half are west of 951, which puts you closer to conveniences, amenities and the beach.
I’m not saying the every seller is realistic in their pricing. There are still some pockets of Naples real estate where prices are continuing to suffer and sellers are desperately, yet unsuccessfully, trying to recover some of their lost money. But a significant portion of the Naples market is bouncing back and it’s the low inventory that is contributing to the boost in prices.
Want to talk Naples real estate? Call, email or text me.
Alysia Shivers Realtor | Naples Florida Real Estate | 239.877.9732
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