The 3rd Quarter Florida Sales Report was recently released for Single-Family Existing Homes and Existing Condominiums While median sale prices are still down Statewide, the percentage of Realtor Sales for Single Family Existing Homes are up 5%. Existing Condominiums only showed a decrease in Realtor Sales of -2%. As I reported in my last blog entry, the pending sales for October of 2008 in Naples, FL showed that 72.62% of the overall market's pending sales were under $300,000.00. These pending sales are being pushed by the short sale and foreclosures.
YIKES! Thanksgiving is almost upon us! Is anyone else trying hard not to stress out? My brother, James and his wife, Millie, arrive on November 25th for the Thanksgiving holiday.
I have been busily Christmas shopping, wrapping and packing so that I can mail all my out of town gifts on December 1st. If I don't do it now, it will not be accomplished while my brother is in town. My husband and I are hosting a Thanksgiving dinner for 10. Have I planned a menu? Have I written a grocery list? NO! I know we are having our Mom's recipe for turkey and stuffing and our Grandmother's carrot cake. Once I have the meal on the table I can relax. Please tell me that I am not alone in my hysteria.
You would think that living in the Paradise called Naples, FL, the holidays would not be so frenzied. Since I sell real estate here, I can tell you that the holidays take on a life of their own for me. What do I mean by this? When I sold real estate in Chicago land, the holidays were always a slow period of time for sales. The weather was cold, people were busy with the holidays and no one was braving the cold looking for real estate unless they absolute HAD to buy. I can vividly remember taking my gloves off to work a keybox and have my fingers start freezing in the process!
When I started selling real estate in Naples, I quickly learned that when visitors come to Naples for the holidays they want to look at real estate. Naples' weather is fantastic compared to the kind of weather they left behind and they have time to think about owning a home in Naples. Quite frankly if you are contemplating owning a home in Naples, November and December are great months to buy. Once season starts, there will be even more buyers out looking for that "deal" and buyers will have more competition............especially in the under $300,000.00 price range!
I have often been asked if I miss the snow around the holidays. My answer is, "NO"! There are so many fun events to experience here in Naples during the holidays. It is a joy to take part in these events without trudging through snow. Naples, does provide its own brand of snow in the downtown area during the Christmas holidays. Naples snow is something you don't want to miss!
Golden Gate has snow trucked in from up North every year to set up an Snowfest. This year it will be held on December 6th.
If your plans will find you in Naples for the holidays, please come out and join the different festivities. Naples has something to please everyone whether you are young or just young at heart.
My you all have a wonderful Thanksgiving surrounded by family and good friends!
The Naples Board of Realtors released the statistics for their October 2008 Sales Reports. These reports look at the overall market, single family homes and condominiums and compare the month of October 2007 to October 2008. It also compares the 12 month period ending 10/2007 to the 12 month period ending 10/2008.
In the Overall Market, median sale prices have decreased 21.31% in the 12 month period ending 10/2007 to the 12 month period ending 10/2008. Our inventory has increased to 10,815 listings, which gives us an inventory that could last 27 months. The good news is that the average market time has decreased slightly. The number of pending sales and closed sales have both increased.
Of the 464 pending sales made in the overall market in October of 2008, 72.62% were all under $300,000.00. 12.06% were between $300K - $500K. 8.40% were between $500K - $1M. 3.22% were between $1M -$2M. 3.66% were over $2M.
Single Family Homes showed a 25.80% decrease in median sale prices with 73.48% of October 2008 pending sales under $300K
Condominiums showed a 15.48% decrease in median sale prices with 70.86% of October 2008 pending sales under $300K
The North Naples area leads the way with the highest amount of sales in both condos and single family homes in the 12 month period ending 10/2007 to the 12 month period ending 10/2008.
The Naples Daily News reported this morning that many home owners in Southwest Florida owe more then their homes are worth. They wrote that the Naples/Marco Island area showed an increase of 194% in foreclosure filings from October of 2007 to October of 2008.
While all of the above might sound like a prediction of doom and gloom, the market is what the market is. If you are a buyer hoping to buy a place in Naples under $300K, you have a ton of competition because over 70% of the pending sales being made are under $300K. If you are a seller priced between $500K - $1M only 8.40% of buyers out in the market are purchasing in your price range. Bottom line is that it is going to take you longer to sell in that price range.
Naples is truly a beautiful place to live. Today was a gorgeous day with a high in the 80's. After living in Chicago for 43 years, that is not a day that goes by for me here in Naples that I do not marvel at the beautiful days. If you are searching for a wonderful place to live, you can find it here in Naples.
Over the last 30 years, I have seen a huge amount of homes and given advice to clients who have homes to sell. This web site even has a page dedicated to preparing your home to sell with detailed checklists. Clients will ask me "What can I do to get my home sold." The number one thing any seller can do is to price their home correctly for the market. The second thing a seller can do is make sure their home shows well.
Okay, so what do I mean by a home should show well? It has to be C-L-E-A-N! Years ago I told one of my Sellers to make sure their home was clean for the broker's open house tour. These particular Sellers had a number of dogs. By the looks of the inside of the home, the dogs ran the house. I did not think that I had to give that Seller a definition of clean. Boy, did I make a mistake. The day of the broker's open house came, I opened the door to the house only to find that the house was still a mess and it looked like the seller had taken a dirty rag and moved the dog hairs around the dirt on the kitchen counter.
Clean means fresh smelling, uncluttered, sparkling, squeaky clean. Get rid of all the junk on your kitchen counters, organize your clothes and your shoes in your closets, tackle your kitchen cabinets and organize them and your linen closets. Buyers WILL look into your kitchen cabinets and closets. Remember to clean your stove, especially your broiler pan. ( I could write volumes on dirty stoves.) Replace worn out throw rugs, put your "company" towels out in your bathroom, do not leave your clothes and dirty towels laying on the floors. Pick up the toys. Make sure your bathrooms are as clean as an operating room. (I could write more volumes on things I have seen in toilets.) While you may have a more relaxed style of living, the way you sell a home may not be the way you live in a home.
Everyone has their own definition of clean. When you decided to sell your home, it must be Real Estate clean to help it get sold. With so many homes on the market all over the country, Sellers will have to put in some elbow grease on cleaning their homes or end up with a lower price on their home then they thought they would obtain.
I once had a listing that was a home whose occupants had gone through a divorce. Divorce listings can be very difficult to handle. The ex-wife was living in the residence and had no motivation to sell. The ex-husband had the motivation as, if I remember correctly, he was the owner. Needless to say, the ex-wife turned the house into a mess. She drove across the wet grass of the front lawn to leave tire marks. This home was a center entry Colonial. When you opened the front door, you were greeted by dirty clothes leading up the staircase. I won't even go into how the kitchen and bathrooms looked. This home sold for far less than any other home in the neighborhood because of the way it showed.
There is a page on this site that talks about painting your home. It is called, Should I paint? It is a nicely written page. There are days after I have shown places that desperately need a fresh coat of paint that I feel like coming back to my Website and erasing everything on that page and just putting these words: If you have to ask the question, should I paint before I sell, get the paint brush out! Paint your place a neutral color and by neutral color I mean off white or white.
In today's market your home will be in competition with many homes. If your home is priced correctly and squeaky clean, you will have a much better chance of getting your home SOLD.
Recently I stumbled over a free on line service that will e-mail you reminders and appointments. You can access this free account at www.IWantSandy.com
This free account could help remind you to not only schedule cleaning projects but also help you remember your daily tasks and appointments. Let me know how it works for you.
ContactUs Think Lynn Wilber when buying or selling in SW Florida !!! Downing-Frye Realty, Inc. is a Florida licensed real estate brokerage