Sunshine Shunned: Snowbirds Hesitant about Florida Return

Lambiance  – Pelican Bay – Naples, FL – The link below will take you to an interesting article about Florida’s snowbirds.

Source: Sunshine Shunned: Snowbirds Hesitant about Florida Return

I’ve recently heard of 3 families cancelling vacations to Florida and a few snowbirds holding off their trips to their Florida residences until the Covid numbers come down. It will be interesting to see what happens this season.

LAmbiance’s units are desirable to many people. Last week we had a second floor garden home come on the market. It was under contract within 3 days. As of today there are no units for sale in LAmbiance. There are only 22 places for sale in all of Pelican Bay.

Since the beginning of the year LAmbiance has had 8 sales. If you click here, the link will take you to a list of those sales.  https://matrix.swflamls.com/Matrix/Public/Portal.aspx?p=DE-99347885-537&k=190465XHFL8&eml=THlubkhXaWxiZXJAZ21haWwuY29t#1

It’s definitely a Seller’s market. If you are thinking of selling, you can be aggressive with your price. There are so few listings and so much demand your property should sell quickly.

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.

Downing Frye’s office has moved! Our new office is in the Galleria on Vanderbilt at:

8950 Fontana Del Sol Way Suite 100 – Naples, FL 34109

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.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.com and 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 43 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail at Lynn@NaplesBuys.com or call 239-594-2780.

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NAR: U.S. International Real Estate Investment Drops 36%

LAmbiance – Pelican Bay – Naples FL – I ran across this article in one of my trade emails this morning and wanted to share it with you.

Annual survey found a “confluence of many factors,” such as a decline in global growth (down 3.6% in 2018) and a tight housing inventory, led to the drop.

Source: NAR: U.S. International Real Estate Investment Drops 36%

There are many factors that affect our real estate market. Foreign buyers are certainly one of them.

As of today LAmbiance has 4 active listings ranging in price from $639,900.00 – $879,900.00. Our average market time for these active listings is 156 days. Since the beginning of the year, we’ve had 6 sales ranging in price from $490,000.00 – $875,000.00.  The average market time of these sold listings is 96 days.  That’s a pretty big difference from 156 days. Here’s a list of all the real estate activity in L’ambiance since the beginning of the year. https://matrix.swflamls.com/Matrix/Public/Portal.aspx?k=190465XHFL8&p=DE-63050616-167

Since the beginning of the year Pelican Bay has had 51 low-rise condo sales with an average price of $554,924.00. You can see from this chart the highest numbers of closed sales 15, fell between 400K-500K. We even had 8 sales under 400K!

Last year during this same time period Pelican Bay had 61 low-rise condo sales with an average price of $569,180.00. It appears we’ve taken a bit of a dip.  From January 1st – July 31st 2018, the most popular sales price range was between 600K-700K with a total of 13 sales.

What does all this mean?  At this moment in time, if you don’t have to sell, do not put your place on the market. If you really want to sell, you’ll need to price your unit as close to market price as humanly possible to get it to sell. Remember our active listing days on the market is at 156 days.

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.com and 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 41 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail at Lynn@NaplesBuys.comor call 239-594-2780.

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LAmbiance in Pelican Bay Real Estate Statistics

LAmbiance – Pelican Bay – Naples, FL – Are you curious as to what is happening in the real estate market?  It’s been an interesting year so far. Let’s first take a look at what is happening in LAmbiance.

Since the beginning of the year, we have only had 3 closed sales. You’ll note all of them are first floor units.  Two of these sales are coach homes and one is a garden home.  All three of these listings had new kitchens and other updates.  At present we have two active listings.

Pelican Bay currently has 41 low-rise listings on the market.  Of these 41 listings, only 15 are under 500K.  As of today there have been 61 low-rise closed sales since the beginning of the year. When you review these closed sales, you’ll see that 27 of them were 500K and under. The rest of the sales were all over 501K,

The Naples Board of Realtors recently released the 2nd quarter statistics for 2018. When you look at this report make sure to scroll down to the Condominium Market Statistics page.  I found these statistics very interesting.  Most of our sales in L’Ambiance will be between 500K-1M.  Occasionally we get some units under 500K but these units usually need work.  If you look at the statistics by price, you’ll see the market between 500K-1M only represents 11.1% of all the sales in the 12-month period ending June 2018.  The number of closed sales are down 12% prices are down 5% and inventory is down 4%. The average days on the market are up 5%.

Now take a look at the market over 1M.  The number of closed sales are UP 52%. The prices between 1M – 2M are up 12% and the inventory is down 9%.  The higher price ranges are definite on fire right now.

Please take a moment and also view the Naples Beach Statistics on this report.  You’ll see the number of sales for the 12-month period ending June 2018 represent 21.35% of the market.  The median sales price is $650,000.00 and is down 4%.

When you view the closed sales for all of Pelican Bay, you’ll find that of the 221 closed sales since the beginning of this year, 96 of those sales were over 1 million dollars. That’s 43.4% of the market!

In my humble opinion, it would appear wealthy people are taking money out of the stock market and putting it into real estate.  The people who can afford to purchase in LAmbiance are being more conservative in spending their money on a second home.  Keep in mind the tax deduction for interest on a second home ceased to exist.  Florida is also dealing with harmful blue-green algae and red tide.  While we don’t have either here in Naples currently, these conditions might affect Buyers thinking about investing over a half a million dollars when making a purchase.

The average price for a low-rise in Pelican Bay in the first half of 2017 was $613,254.00.  The average price for a low-rise condo in Pelican Bay in the first half of 2018 was $570,293.00.  That’s a 7.1% decrease in the average sales price.

Low-Rises Closed Sales Pelican Bay First Half of 2017

 

Low-Rises Closed Sales Pelican Bay First Half of 2018 

 

You might hear Realtors complain about the lack of inventory in Pelican Bay.  You would think the lack of inventory would be driving the prices higher.  While that is happening in the 1-2 million dollar market, it is not happening in the lower price ranges.  If you are not in the over million dollar price range, this is not the market to be aggressive in your asking price; especially if you have not updated your unit.  Forget about “testing the market”.  If you do not have to sell, do not put your unit on the market.

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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First Quarter 2017 LAmbiance Sales Statistics

LAmbiance – Pelican Bay – Naples, FL – Everyone keeps asking me “How’s the market doing?”  Let’s take a look at the first quarter of 2016’s statistics and compare them with the first quarter of 2017’s statistics.

GARDEN HOMES

	2016	2017
Number of Sales	5	1
Average Sales Price	$624,600.00	$523,000.00
Median Sales Price	$639,000.00	$523,000.00

You can see that the first quarter of 2017 had a lot less activity than the first quarter of 2016.  In fact as of today, there are only 2 garden home sales since the beginning of January.

COACH HOMES

	2016	2017
Number of Sales	2	4
Average Sales Price	$807,500.00	$835,000.00
Median Sales Price	$807,500.00	$810,000.00

Coach Homes had a modest increase in their average and median sales prices.

Low Rises in Pelican Bay had an increase in price in the first quarter of Pelican Bay with just a tad more closed sales than the first quarter of 2016.  View 2017 Low-Rise Pelican Bay statistics HERE.   To view the first quarter statistics for the Naples market click HERE.Coach homes saw 4 sales in the first quarter of 2017 with a price increase in both the median and average sale prices.

There is only one unit for sale currently in L’Ambiance.  Pelican Bay has just 53 low rises on the market as of today.  53 low rise units for sale gives us a “normal” market of 6 months of inventory.

Until things become more steady in the world, I don’t think we are going to see the market have sizable increases.  Is it a good time to sell?  Yes, if you are aware of market pricing and don’t try to ask way too much for your residence. While Sellers would like our prices to increase 15% each year, it just is not going to happen at present.

If you are thinking about selling your L’Ambiance unit, please call me before you decide to 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 LAmbiance.  I’d be happy to discuss not only the pricing in LAmbiance but the pricing for low-rises in Pelican Bay and low-rises in Naples to see how your unit fits into the equation.

Looking for a home in LAmbiance or Pelican Bay? Click Here

Would you like to subscribe to LAmbiance updates? E-mail me atLynn@NaplesBuys.com and I will add you to the subscription list. Please know that I will keep your e-mail address private.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay. Her 39 years of real estate experience and her area expertise have been valuable resources to Pelican Bay Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail atLynn@NaplesBuys.com or call 239-594-2780.

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Sealcoating Schedule

LAmbiance – Pelican Bay – Naples FL There is always some work going on in L’Ambiance.  Our pool has been resurfaced and is now open for use.  Work will begin on sealcoating the blacktop on L’Ambiance’s road beginning on September 6th and ending on September 13th. Eagle Property Management has sent out an e-mail regarding this event.  I thought it would also be worthwhile to post the map of the schedule on our site.

LAmbiance Sealcoating Schedule

I was here the last time L’Ambiance  sealcoated the blacktop. We had workmen, visitors and Residents driving over newly seal coated areas.  Please take a moment to study the map and make arrangements to move and park your car the night before the sealcoating starts in your area.  Please also avoid scheduling workmen or cleaning people while this work is being completed.  It would also be a good idea to inform tenants and guests of the impending sealcoating so they also can make arrangements to park.

Yesterday found me working on market evaluations for some potential Sellers in Pelican Bay.  In the course of doing these numbers, I had to calculate some statistics for low-rise condos in Pelican Bay.  As L’Ambiance is a low-rise complex, you might want to take a moment to view the YTD numbers.

Are you thinking of selling your LAmbiance home?  Please give me a call.  I have a list of buyers who are looking for specific units in LAmbiance.  I’d be happy to discuss not only the pricing in LAmbiance but the pricing for low-rises in Pelican Bay and low-rises in Naples to see how your unit fits into the equation.

Looking for a home in LAmbiance or Pelican Bay? Click Here

Would you like to subscribe to LAmbiance updates? E-mail me atLynn@NaplesBuys.com and I will add you to the subscription list. Please know that I will keep your e-mail address private.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay. Her 39 years of real estate experience and her area expertise have been valuable resources to Pelican Bay Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail atLynn@NaplesBuys.com or call 239-594-2780.

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