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Luxury Market Surges in January
Naples, FL (March 06, 2018) - Unlike national figures for home sales in January which, according to the National Association of Realtors®, dropped 4.8 percent compared to sales in January 2017, home sales in Collier County rose 11 percent in January to 671 home sales in January 2018 from 603 home sales in January 2017. In fact, closed sales of luxury properties (homes above $1 million) were quite remarkable in January with a 123 percent increase over the number of closed sales of luxury properties in January 2017, according to the January 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
Pending sales of homes priced above $1 million increased 67 percent in January compared to last year.
Broker analysts reviewing the report agreed that many of the high-end speculative homes that had been on the market for over two years, especially in desirable locations like the Naples Beach area, were sold in January.
An increase in motivated sellers is demonstrated by January's overall pending sales, which increased 11 percent.
I think we had a lot of pent up demand from wealthy buyers who waited to see how the new tax laws would affect them. Once they understood the law, they obviously felt confident in making a big purchasing decision.
As such, January's median closed price decreased 19 percent in the $2 million and above price category. For the entire market, the overall median closed price increased 19 percent in January.
"The storm blew in a lot of business," remarked Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., who added, "I believe that some buyers who would have purchased in the fourth quarter of 2017 delayed their decision until the first quarter of 2018. It looks like we are off to a good start this year with respect to sales."
Overall median prices in January decreased for homes up to $1 million compared to last year. For example, median closed prices for properties in the $300,000 and below price category decreased 6 percent in January to $205,000 from $219,000 in January 2017.
For a long time we saw double digit increases in median closed prices for single-family homes in the $300,000 and below market. But for January, the report showed only a 4 percent increase [year over year (or a 5 percent increase month over month).
Overall inventory in Collier County decreased 5 percent in January to 6,071 homes from 6,393 homes in January 2017. However, inventory has been on the rise over the past few months and while the nation continues to experience declining inventory levels that resulted in a 3.4 months supply for January, the Naples area market is seeing its inventory levels increase to 8.2 months of inventory for January.
However, the report also showed a 21 percent decline in inventory for single-family homes in the Naples Beach area, which Carroll says can be attributed to a rush of speculative homes sales in that area.
The NABOR® January 2018 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® January 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
|
CATEGORIES
|
Jan 2017
|
Jan 2018
|
CHANGE
|
|
Total homes under contract (pending sales) (month/month)
|
924
|
1,030
|
11%
|
|
Total closed sales (month/month)
|
603 | 671 | 11% |
|
Median closed price (month/month)
|
$314,000 | $375,000 | 19% |
|
Median closed price >$300K (month/month)
|
$485,000 | $646,000 | 33% |
|
Total active listings (inventory)
|
6,393 | 6,071 | -5% |
|
Average days on market
|
91 | 91 | 0 |
|
Single-family closed sales (month/month)
|
284 | 280 | -1% |
|
Single-family median closed price (month/month)
|
$397,000 | $430,000 | 8% |
|
Single-family inventory
|
3,219 | 2,961 | -8% |
|
Condominium closed sales (month/month)
|
319 | 391 | 23% |
|
Condominium median closed price (month/month)
|
$265,000 | $320,000 | 21% |
|
Condominium inventory
|
3,174 | 3,110 | -2% |
The South Naples (34112, 34113) and East Naples (34114, 34117, 34120, 34137) single-family home markets continued to see the strongest increases in value in January, as reflected in 8 and 9 percent increases in median closed prices, respectively.
Interestingly, and as confirmed by several broker analysts reviewing the January report, an unusual closed sales anomaly transpired in January that, while impacting figures for the month, does not influence the market's activity trend on a 12-month ending basis.
Basically, a newly constructed luxury high rise condominium in North Naples (Kalea Bay) delayed the closings for 79 of its units that were previously pending until January. This in turn, influenced NABOR®'s closed sales, median closed price, and days on market statistics for the month.
As reflected in the report, there were 150 closed sales of condominiums in the North Naples area in January (a 150 percent increase over January 2017). By the same token, because the 79 condominiums sold between $1.8 million and $2.5 million, the median closed price in this geographic area increased by 428 percent. The data also showed 0 days on the market for the 79 units. The closings were apparently postponed as a result of the hurricane disruption and not completed until January.
If you are interested in purchasing new construction, please call me at (239) 455-5554 to represent your interests as a buyer's agent. There are many undesirable home sites that the builder's agents have to unload and you walking in by yourself is exactly what they want. Not only that, but you won't save money by going directly to them and you don't have to pay your agent. Be smart. Unless you're a real estate professional, you will most likely need help.
March 5, 2018
Naples FL Market Report, March 2018
Luxury Market Surges in January
Naples, FL (March 06, 2018) - Unlike national figures for home sales in January which, according to the National Association of Realtors®, dropped 4.8 percent compared to sales in January 2017, home sales in Collier County rose 11 percent in January to 671 home sales in January 2018 from 603 home sales in January 2017. In fact, closed sales of luxury properties (homes above $1 million) were quite remarkable in January with a 123 percent increase over the number of closed sales of luxury properties in January 2017, according to the January 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
Pending sales of homes priced above $1 million increased 67 percent in January compared to last year.
Broker analysts reviewing the report agreed that many of the high-end speculative homes that had been on the market for over two years, especially in desirable locations like the Naples Beach area, were sold in January.
An increase in motivated sellers is demonstrated by January's overall pending sales, which increased 11 percent.
I think we had a lot of pent up demand from wealthy buyers who waited to see how the new tax laws would affect them. Once they understood the law, they obviously felt confident in making a big purchasing decision.
As such, January's median closed price decreased 19 percent in the $2 million and above price category. For the entire market, the overall median closed price increased 19 percent in January.
"The storm blew in a lot of business," remarked Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., who added, "I believe that some buyers who would have purchased in the fourth quarter of 2017 delayed their decision until the first quarter of 2018. It looks like we are off to a good start this year with respect to sales."
Overall median prices in January decreased for homes up to $1 million compared to last year. For example, median closed prices for properties in the $300,000 and below price category decreased 6 percent in January to $205,000 from $219,000 in January 2017.
For a long time we saw double digit increases in median closed prices for single-family homes in the $300,000 and below market. But for January, the report showed only a 4 percent increase [year over year (or a 5 percent increase month over month).
Overall inventory in Collier County decreased 5 percent in January to 6,071 homes from 6,393 homes in January 2017. However, inventory has been on the rise over the past few months and while the nation continues to experience declining inventory levels that resulted in a 3.4 months supply for January, the Naples area market is seeing its inventory levels increase to 8.2 months of inventory for January.
However, the report also showed a 21 percent decline in inventory for single-family homes in the Naples Beach area, which Carroll says can be attributed to a rush of speculative homes sales in that area.
The NABOR® January 2018 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® January 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
|
CATEGORIES
|
Jan 2017
|
Jan 2018
|
CHANGE
|
|
Total homes under contract (pending sales) (month/month)
|
924
|
1,030
|
11%
|
|
Total closed sales (month/month)
|
603 | 671 | 11% |
|
Median closed price (month/month)
|
$314,000 | $375,000 | 19% |
|
Median closed price >$300K (month/month)
|
$485,000 | $646,000 | 33% |
|
Total active listings (inventory)
|
6,393 | 6,071 | -5% |
|
Average days on market
|
91 | 91 | 0 |
|
Single-family closed sales (month/month)
|
284 | 280 | -1% |
|
Single-family median closed price (month/month)
|
$397,000 | $430,000 | 8% |
|
Single-family inventory
|
3,219 | 2,961 | -8% |
|
Condominium closed sales (month/month)
|
319 | 391 | 23% |
|
Condominium median closed price (month/month)
|
$265,000 | $320,000 | 21% |
|
Condominium inventory
|
3,174 | 3,110 | -2% |
The South Naples (34112, 34113) and East Naples (34114, 34117, 34120, 34137) single-family home markets continued to see the strongest increases in value in January, as reflected in 8 and 9 percent increases in median closed prices, respectively.
Interestingly, and as confirmed by several broker analysts reviewing the January report, an unusual closed sales anomaly transpired in January that, while impacting figures for the month, does not influence the market's activity trend on a 12-month ending basis.
Basically, a newly constructed luxury high rise condominium in North Naples (Kalea Bay) delayed the closings for 79 of its units that were previously pending until January. This in turn, influenced NABOR®'s closed sales, median closed price, and days on market statistics for the month.
As reflected in the report, there were 150 closed sales of condominiums in the North Naples area in January (a 150 percent increase over January 2017). By the same token, because the 79 condominiums sold between $1.8 million and $2.5 million, the median closed price in this geographic area increased by 428 percent. The data also showed 0 days on the market for the 79 units. The closings were apparently postponed as a result of the hurricane disruption and not completed until January.
If you are interested in purchasing new construction, please call me at (239) 455-5554 to represent your interests as a buyer's agent. There are many undesirable home sites that the builder's agents have to unload and you walking in by yourself is exactly what they want. Not only that, but you won't save money by going directly to them and you don't have to pay your agent. Be smart. Unless you're a real estate professional, you will most likely need help.
Posted in
Beach Property,
Boating Communities,
Condos,
Golf Communities,
Single Family Homes,
Waterfront Property
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June 19, 2017
Naples FL Real Estate Market Report June 2017
A service from www.NaplesFinder.com, approved by Naples Board of REALTORS
I hope you are enjoying www.NaplesFinder.com and all the property updates. Please let me know if you're planning a trip to Naples in the near future. It helps me tremendously in planning my showings and appointments, thus making sure you are receiving the highest level of real estate service.
May Market Report Shines for Naples
Contact information: Andrei Apostu, Broker Associate at Downing Frye Realty, (239) 455-5554 andrei@naplesfinder.com
Naples, FL (June 18, 2017) - Overall closed sales of homes in May shined brighter than any other month previously reported in 2017, with an impressive 23 percent increase to 1,027 closed sales in May 2017 from 838 closed sales in May 2016. Likewise, overall pending sales (homes under contract) also outperformed activity reported in the last four months. Leading broker analysts who reviewed the May 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are quite confident that real estate agents will be very busy this summer.
"If May's momentum continues, this year will turn out better than last year," said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. "Home sales during the summer months have become stronger over the past few years. We are no longer seeing a huge disparity in activity between winter and summer like we once did."
One familiar obstacle summer buyers will face again this year is a reduction in available inventory. Whereas the market saw a 26 percent increase in inventory in January 2017 to 6,393 homes from 5,091 in January 2016, the May report showed only a 4 percent increase to 5,404 homes in May 2017 from 5,207 homes in May 2016. Inventory increases are leveling off. Many broker analysts who track activity on a daily basis report that they have witnessed upwards of 900 listings disappear from the Southwest Florida MLS since May 1st.
"This type of behavior is short sighted," said Hughes. "Those who let a listing expire at the end of our winter season are missing a huge opportunity to sell their property during the summer months." Hughes added that our area attracts a variety of buyers during the summer such as international travelers, families from Northern states, and those relocating from other parts of Florida.
Comparatively, the overall median closed price decreased 8 percent in January, while the May report showed an increase of 5 percent to $355,000 in May 2017 from $338,000 in May 2016. Incidentally, January's median closed price was $314,000. If the logic behind removing a listing at the end of season is based on old beliefs that a property will obtain a higher sale price during the winter months, then sellers need to examine the May statistics more closely. According to NABOR reports, there were 424 more closed sales during May than January.
It's common knowledge among real estate professionals here in Naples that buyers during the summer are more serious. In season, we get a lot of traffic, but it's mostly lookers. In the summer, people are ready to buy. They ask real buyer questions, and most often have financing in place.
Activity in the $2 million and above price category has really picked up strength this year. As reflected in the report, overall pending sales in the $2 million and above price category increased 52 percent in May. There were also 78 closed sales of homes in this price category in May 2017, up from 36 closed sales in May 2016. And while the overall median closed price for homes above $300,000 increased 8 percent to $590,000 in May 2017 from $547,000 in May 2016, the overall median closed price for this top reported price category decreased 8 percent to $2,950,000 in May 2017 from $3,220,000 in May 2016.
The May report also showed overall inventory increased 4 percent to 5,404 homes in May 2017 from 5,207 homes in May 2016. Homes in the $300,000 and below price category had the highest inventory increase of all other price categories, reporting a 12 percent increase to 1,551 properties in May 2017 from 1,391 properties in May 2016. While still an increase over last year, the rate of the market's overall inventory increase is tempering. In fact, brokers are concerned that housing options in some geographic areas, such as in the Central Naples single family market, may start to pinch sales as this area experienced a 50 percent increase in single-family closed sales during May, but had only an 8 percent decrease in inventory.
The May 2017 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The May 2017 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
|
CATEGORIES
|
May 2016
|
May 2017
|
CHANGE
|
||||
|
Total homes under contract (pending sales)
|
921
|
1,027
|
12%
|
||||
|
Total closed sales
|
838 | 1,027 | 23% | ||||
|
Median closed price
|
$338,000 | $355,000 | 5% | ||||
|
Median closed price >$300K
|
$547,000 | $590,000 | 8% | ||||
|
Total active listings (inventory)
|
5,207 | 5,404 | 4% | ||||
|
Average days on market
|
73 | 98 | 34% | ||||
|
Single-family closed sales
|
396 | 485 | 22% | ||||
|
Single-family median closed price
|
$432,000 | $435,000 | 1% | ||||
|
Single-family inventory
|
2,744 | 2,734 | 0% | ||||
|
Condominium closed sales
|
442 | 542 | 23% | ||||
|
Condominium median closed price
|
$276,000 | $289,000 | 5% | ||||
|
Condominium inventory
|
2,463 | 2,670 | 8% |
Buyers who are looking for a condominium in the Naples Beach or North Naples area this summer may encounter some challenges as these areas are running low on inventory. In North Naples there was a 47 percent increase in closed sales of condominiums during May, a 26 percent increase in pending sales of condominiums during May, and only a 9 percent increase in inventory. The situation is even more alarming on the beach, as both pending and closed sales of condominiums increased by double digits, but its inventory rose only 1 percent in May.
If you currently have a home for sale in the Naples market, brokers recommend against terminating the listing during the summer. In fact, there were 875 closed sales in June 2015 and 832 closed sales in June 2016, both higher than the number of closed sales in January (603) and February (613) of 2017.
As a highly desirable second-home location that rarely falls below 70 degrees, Naples will always increase in population during the winter months and then decrease during the summer. But according to county growth reports, the permanent residential population in Naples is also growing steadily. When asked, several brokers say that a large majority of the next season's part-time residents, along with a host of new permanent transplants, prefer to do their home buying during the summer. So before you pull your home off the market, seek guidance from your Naples REALTOR® who can help you market your property correctly to appeal to summer buyers. A REALTOR® can also locate properties that match summer buyer needs and negotiate a purchase price that reflects the market.
Best regards,
Andrei Apostu, Broker Associate
(239) 455-5554
Apostu Group, Downing Frye Realty
www.NaplesFinder.com
The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.
The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.
Posted in
Beach Property,
Boating Communities,
Condos,
Golf Communities,
Single Family Homes,
Waterfront Property
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Aug. 27, 2014
Listing your home in Naples FL, how to find a listing agent in Naples FL
Listing your home in Naples FL
So you decided to sell your house or condo in Naples FL… Wether you want to move into a larger home, or it’s time to relocate and you want to list your Naples beach condo, you need to find a reliable real estate agent. You want someone sharp, you want someone who can stand his ground and negotiate aggressively. You simply want THE BEST. What do you do? How do you trust someone with your most valuable asset? It’s not easy. Just because someone listed a house in your community, it doesn’t mean that those sellers made the best decision necessarily... Not more than they did in choosing the car they drive or the stocks and bonds they bought. Why would you blindly trust their decision?
The truth is, only YOU can make the decision in choosing your representative. There are a few things in your agent’s arsenal:
- your listing agent should be knowledgeable.
- your agent should be doing this job full time, 24/7
- should be a master in negotiating
- should be able to explain intelligently and rationally the reasons behind a counter offer
- know how to justify an increase in the sales price
- stay in touch with changes in the market
- convey urgency to a buyer
- use body language skills and great communication abilities
- being able to read people’s reactions and choose the right approach accordingly
- to know answers to all objections before they are expressed
- offer professional photography (regardless of price range)
- include a first person HD video
- a FULL page on the most comprehensive and advanced real estate website in Naples FL, www.NaplesFinder.com (including additional photos, maps, community descriptions and property description)
- hold elegant open houses
- offer professional brochures to all prospective buyers
- provide staging advice
- intelligent property description, creating a PRESENCE on the MLS and Internet
- provide showing assistance and monitoring
- any additional, reliable services needed throughout the process, like a contractor, real estate attorney, title company, etc.
Every single search for a home starts ONLINE. Wether are relocating, looking for an investment property in Naples FL or a vacation condo on on the beautiful Naples Beach, ALL buyers start on the Internet. www.NaplesFinder.com has HUNDREDS of buyers browsing through the new listings EVERY DAY and it is simply the best tool in finding a home for sale in Naples FL. Your first chance of finding a qualified buyer starts here.
How to choose a listing agent in Naples FL? Choose one of the best! Call Andrei Apostu, owner/creator of www.NaplesFinder.com at (239) 455-5554 and set an appointment. This choice will be the best one you’ll ever make throughout your process of selling your Naples home!
Aug. 25, 2014
Naples FL low inventory for bay view condos in Park Shore & Moorings
Located in the heart of Naples FL, Park Shore and Moorings are two of the most prestigious waterfront and beachfront communities in Naples FL. Homes for sale in Park Shore can be in the millions and boast great, wide views of the Naples Bay, have their own pools, boat docks and are close to some of the finest restaurants and shopping centers Naples has to offer. Condos for sale on the beach in Moorings and Park Shore can have fabulous Gulf of Mexico views and private beach access and others can boast bright Eastern views of the Naples Bay and appeal to many boaters who can dock their vessels right in their backyard. Waterfront properties in Naples FL have always been in high demand and this year proves it.
There is no secret that at this point, in August 2014, the inventory is lower comparable to the previous years and we are heading slowly but steadily into a seller’s market. One of the main types of real estate properties in Naples FL, Naples Bay condos, is particularly low. There are currently only 28 bay front condos for sale in Naples FL ranging from $277,000 to $1,795.000. The number of Naples bay view condos that changed owners has increased as we’re heading towards the season, bringing the number of Naples bay front closed sales to 58 from January 1st to the current date.
A natural effect of the decreased inventory will be a higher competition among buyers, more firm sellers and a very possible increase in prices. Expect new prices to be slightly higher than comparable sales in the previous months, which can create a difficulty for those seeking financing through a conventional loan. See a statistical graphic of this year below
Stay in the front line by signing up on a top Naples real estate website like www.NaplesFinder.com to receive immediate property updates and professional advice from Downing Frye Realtor® Andrei Apostu at (239) 455-5554 or andrei@naplesfinder.com.
Aug. 23, 2014
Real Estate differences UK vs US
Welcome to my website, I'm looking forward to helping you with your real estate search here in Naples FL. I've noticed you found me all the way from UK, so I wanted to point out a couple of things that my previous British clients found different from your market:
- we have here what we call an MLS, which stands for Multiple Listing Service. It means that every single listing gets added to this system regardless of brokerage or agent, everyone has access to ALL listings. I know it's different over there, where I understand you have to go from office to office and see what listings they each have.
- there are two types of agents here: one works for the seller (the listing agent), one works for the buyer (the buyer's agent). The listing agent is trying to sell his particular listings at the highest price possible, while the buyer's agent is trying to find the property that suits the buyer best, regardless if it's his listing or not, and obtain it at the lowest possible cost.
- the listing agent gets paid 6% of the sale price from the seller, while the buyer DOES NOT pay their own agent. The listing agent will split his commission as a referral fee with the buyer's agent for bringing a buyer.
- the obvious advantages of having your own buyer's agent are that you have someone in your corner to make sure the property you're purchasing is desirable (from a resale and real estate principles perspective), fits the type of criteria you've been looking for, negotiate on your behalf and oversee proper paperwork and procedure.
- since UK is an island and a much older nation, expect properties in the US to be less expensive per square meter, newer and larger than UK properties.
- one interesting fact is also that US buyers start investing first in financial assets and equities in stock before they progress to home ownership, while British tend to do the opposite. Much of that trend can also be attributed to cultural differences, where America has a larger stocks, bonds and shares market, while properties cost significantly more in UK. Another interesting fact is that British households hold an impressive 62% of their total wealth in their home equity, where in the US households the percent is much lower, 34%.
- home watch: there are many trustworthy services that cater to out of town owners, by checking the property once or twice a month, make sure everything is in order. Security systems are also available and many gated communities are guarded 24/7 along with video surveillance.
- one more important thing: as your buyer's agent here in Naples, I will provide you with absolutely everything you need. Home inspectors, real estate attorney, immigration attorney, title company, pool services, air conditioned services, cleaning and moving companies, remodeling, contractors for improvements, interior designers and furniture store recommendations, along with all the phone numbers needed for the water & sewer, electric company, phone line, pest control, internet services, and many more.
I hope this information is helpful, please feel free to contact me at any time at (239) 455-5554.
Aug. 23, 2014
Kevin Lottes, the best real estate attorney in Naples FL
Kevin Lottes is one of the very few people in the Naples FL Real Estate world that I trust completely. I've had the fortune of meeting him at the very begininng of my career and have used his outstanding services exclusively for the last 6 years. Kevin is one of the few board certified real estate attorneys in Naples FL and is a true specialist in all facets of real estate: title insurance, foreclosure, short sale, probate or regular transactions. His integrity and professionalism have prompted the Naples Board of Realtors (NABOR) to select Kevin Lottes and his expertise, wether is a matter of changing the contracts we all use as REALTORS®, lecturing or teaching specialty classes to brokers and agents. Here, at the www.NaplesFinder.com team, Kevin Lottes is a constant presence and a guarantee for a successful transaction.
Aug. 22, 2014
Naples buyer agent
Number one, you don’t pay for all the services you benefit from: market updates, website, time and money spent, showing appointments, negotiations, advice and proper paperwork, timeline of events handling, etc. I’m still amazed when I see buyers purchasing straight from the listing agent, without their own representative. Even if I am the listing agent!
The idea that the seller is getting a “better deal” is flawed, mainly because sellers don’t adjust the commission depending on how many agents are involved. Another misconception I’ve heard a lot is “the listing agent makes more money by receiving full commission, so he’ll do anything possible to close the deal.” A listing agent who works in your interest to get the property at the lowest price possible, is BREAKING THE LAW. His contract says that he’s obligated to get the higher possible price for his client, THE SELLER. If he or she is so eager to break the law to close the deal, what makes you think he or she will make sure you take ownership correctly, protect your money, disclose things that could break the deal or follow proper procedure? Regardless of the situation, a good buyer's agent will save you more money and protect your end of the transaction.
Having worked as a buyer's agent for 6 years almost exclusively and owner of the best lead generating website in SW Florida, www.NaplesFinder.com, I take pride in pointing out pros or cons EVERY time I show property. It's not, by any means, that I'm focusing on the negative, not at all. I'm just narrowing it down to the perfect property, by pointing out things that could lower the resale value of a property. Here are a few examples:
- it's a cloudy day and you don't realize the condo is facing N, you want sun all day around.
- maybe you don't notice that most units in that community have lake views, the only one on the market doesn't (advise to wait for a lake view unit to come on for sale).
- house is near a high school football field, but it's summer vacation, you have no clue ("run, Forrest, run!").
- highway being built 50 feet behind a beautiful little lake and trees, behind your house (benefit, NASCAR experience all year round).
- the foreclosure is only $10,000 less than a regular sale, but it might need $50,000 in repairs.
- the fact the you DON’T have the right to retract your offer and escrow just because you didn’t like the inspection (not only you can lose your escrow, but you can be sued for specific performance and buy the thing).
- most times, the short sale asking price is NOT REAL, but in fact %10 to %20 less than what you’ll end up paying for it (listing agents can’t submit a short sale package without an offer, so they'll mark it down below market value, knowing that banks will never sell a property without doing an appraisal).
- an agent explaining to you a bank addendum is “acting as an attorney” and it is illegal.
- sales agents at new construction sites work for the BUILDER, which means they have to sell ALL LOTS, even the lemons (btw, builder pays the same commission, so you may end up giving 6% to an agent who just placed your house on the first lot in the community, by all the incoming and outgoing traffic. You loved the location because she/he said “it’s close to the clubhouse”. Oh, and because it’s FREE).
- all distressed sales are sold AS-IS, with the right to inspect (you have the right to retract or move forward, but can’t ask for repairs. Must.Have.Attorney)
- Canadian sellers can avoid a lot of headaches by filling out a FIRPTA form.
And so many others...The point is, the listing agent has NO DUTY to disclose any of those, and they CANNOT be hold responsible for it.
Find a GOOD buyer's agent. An honest, knowledgeable, dependable buyer's agent who can negotiate for you, give you ALL the comparable sales, data information and other information relevant to the communities you’re looking at. Let him/her guide you to properties and communities that fit you best. Find one of the best buyer's agents at www.NaplesFinder.com and remember that a buyer without a buyer's agent is a buyer without representation in a transaction. Whomever you choose to go to battle with, do NOT go in alone.
March 25, 2010
Find a real estate agent in Naples, Florida
Finding a good agent in Real Estate could be a difficult task. What should you look for in an agent? Experience, knowledge, honesty and competence. The real estate world today is based 88% on the Internet and web presence. Choose an agent who shows dedication and professionalism and who has a professional, elaborate website. That is always a sign of commitment and consistance. Most real estate websites in Naples Florida are build by third parties, not real estate professionals. NaplesFinder is the exception: built by REALTOR® Andrei Apostu with the Naples buyer in mind, this unprecedented approach to real estate created a powerful presence on the Internet by having the largest amount of Naples Real Estate photography, maps and no-nonsense content. Naples Finder is your premier source of experienced real estate agents, led by Andrei Apostu to uphold the highest standards in the business. Contact us now to ask for assistance from one of our agents or speak directly with Andrei Apostu.
239-455-5554
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