New construction of custom homes and those built for speculation have been popping up all around us in Naples, Florida. In particular, the neighborhoods west of Route 41 (Tamiami Trail) have been setting a blistering pace of new home construction projects that are changing the face of many quiet residential streets. The Law of Supply and Demand has put tremendous pressure on the older homes in desirable areas where the value of the property is in the land itself. Vacant buildable lots are few and far between and not necessarily in the most sought-after locations within these communities. The cost of demolition to remove the old structure and pool is minimal in the grand scheme of things when a new home will have a market value of $3 million or more. In addition, the old real estate adage “Location, Location, Location” applies here as buyers will pay a premium for the choice locations such as waterfront properties, lots in an “X” flood zone, quiet streets with a canopy of trees and roads that are not used as connectors from one main road to another.
Just a few years ago a “Tear Down” would have been an old uninhabitable home by definition. With the recent market demand for new homes in the desirable communities of Naples, any dated home in a great location would be considered as a “Tear Down” by many buyers and custom builders.
If you are a seller of a home that would qualify as a renovation project or a “tear down”, then we need to talk now. Timing is critical and the marketing strategy is of the utmost importance to get you top dollar for your home. It is not enough to stick a listing in the MLS system as this lazy approach will not yield the results that you deserve in this market. In some situations, we can get the job done without people having to inconvenience you with touring the inside of the house. Also, don’t underestimate the importance of timing or think that it is better to wait until “season”. In Naples, we are fortunate to have possible purchasers from many different sources – we have buyers from the Midwest states, buyers from New England, local move up buyers, investors, second home buyers, vacation home buyers, international buyers from Europe and South America, builders, speculators, renovators, families with school age children, people relocating full time to Naples, “snow birds” and retirees. For the best results, the marketing campaign needs to reach out to all of these buyers and each group requires different methods of communication.
Prior to making a listing public, many phone calls to the right contacts need to be made to choreograph interest from more than one qualified potential buyer.
Pricing, timing, marketing strategy, negotiation skills, communication, local knowledge and experience all come into play to make the most of your one opportunity to maximize your profits.
Click on the links below for the properties currently listed in the MLS system and contact us directly at 239-272-4848 for more information.
As professional Realtors who are experts in this area, including Olde Naples, Coquina Sands, Moorings, Park Shore, Pelican Bay, Vanderbilt Beach, we bring a wealth of knowledge and expertise about buying and selling real estate. You need someone you can trust for up-to-date information and we look forward to working with you.
Our new listing on Coral Drive $969,000 (Coquina Sands) went under contract in the first week on the market – knowing exactly where to locate the perfect buyer/s resulted in multiple offers. Our sellers are ecstatic. Have a home to sell that requires a special buyer? Give us a call today at 239-776-5077.