Archive for September 18, 2018

Most vacation buyers want income – not family getaways

September 18, 2018

LAmbiance – Pelican Bay – Naples Florida – I ran across this interesting article this morning while reading my trade e-magazines. This article gives the reader a good idea of the trends in second homes.

Source: Most vacation buyers want income – not family getaways

As I read this article I thought about all the buyers I’ve sold in Pelican Bay.  A large portion of these buyers are not ready to retire yet and want to be able to rent out their units, when they are not enjoying their residence, to help defray their holding costs. The property values in Pelican Bay are such that an investor would have to put a huge amount of money down to make the rental income numbers work. A purchaser would need to look at the rate his/her investment is currently earning versus the projected amount of appreciation a property could earn. Pelican Bay has very little inventory currently on the market. As of today there are only 31 low-rise condos on the market in Pelican Bay.

I am also seeing a number of Pelican Bay residents who used to rent out their units deciding not to rent them anymore as they are now using their units. This is causing a lack of rental properties which will, I believe, trigger higher rental prices.

What will happen to our property values in the 2019 season? I would think we would see property values rising due to lack of inventory but what I am currently seeing are more price reductions in the active listings. The over 1 million dollar market is smoking hot while the 500K to 1M market seems to be languishing.

I hope you all had a pleasant summer. LAmbiance looks forward to the return of its Northern residents.

Have you signed up for our new L’Ambiance Community website?  Because our new LAmbiance site is a secure site, registration is required. Shortly after you submit your registration, you will receive an email with login instructions. You will then be able to choose a password, login and browse the member-only sections of the site.The registration link is: https://lambiancenaples.com/registration

If you own in L’Ambiance, have you joined our L’Ambiance in Pelican Bay Facebook page yet? It’s a great source to ask questions and to get information. Just click here —> LAmbiance in Pelican Bay. Because I am keeping this a private page, you’ll be asked to answer a couple of questions so I can approve you on the page.

If you are thinking of selling your L’Ambiance unit, please call me before you do any major remodeling. I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in L’Ambiance. I’d be happy to discuss not only the pricing in L’Ambiance but the pricing for low-rises in Pelican Bay and condos in Naples to see how your unit fits into the equation.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.comand I will add you to the subscription list. Please know that I keep our e-mail address private.

Please note that I receive not compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in L’Ambiance in Pelican Bay. Her 40 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wiber via e-mail at Lynn@NaplesBuys.comor call 239-594-2780.

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