As we enter “season” for 2015 / 2016, we’re reminded of three mistakes that we have seen buyers make over the years in our local real estate market. This friendly advice goes out to our own customers and clients as well as anyone considering the purchase of their own “Piece of Paradise”. Buyers have different expectations and they are seeking different lifestyles. Sellers have different reasons for selling, different motivations and different timelines. Our job when representing our buyer clients is to listen well, know the priorities and negotiate the best possible terms to make a purchase with a motivated seller in a market that is trending up. Here are three things to avoid to get the best results:
- Buying in the wrong location. This seems so obvious and yet is way too common. Unless you are intimately familiar with our area from past experiences, take some time to really analyze your activities and the lifestyle you expect to enjoy here. A list of your top priorities helps to focus your search in the right direction. If golfing is the Number One priority and only a golf community will do, then that makes things easier. If the beach is absolutely the driving force behind the purchase, then it draws our attention to options on or near the Gulf of Mexico. Do you picture yourself in a beachfront high rise with stunning sunset views? Is it mandatory to have your boat in the backyard with no bridge access to the Gulf? Walking distance to Olde Naples for restaurants and shopping? There is usually a lot more emotion involved with having your own “Piece of Paradise” so, this is where an experienced and caring Realtor comes in to guide you in the right direction to satisfy all of your needs and explain the trade offs between communities.
- Waiting to make your purchase. The inventory of homes for sale in the Naples area is the lowest that we have seen and the ‘Law of Supply and Demand’ has a firm grasp on the market. As the supply diminishes and the demand continues to increase, naturally prices will keep going up. The forces that are driving our real estate market are not going away – this is not a repeat of the “bubble years” of 2004 and 2005 when gasoline was being poured onto the fire by insane lending practices. The longer you wait, the more you will pay for the same house. The longer you wait, the more likely you will be forced out of your first choice for neighborhood. Start enjoying your Florida home now.
- Making your initial offer too low. The desperate seller does not exist in our market area nowadays and the time to “steal” real estate in Naples and Bonita Springs is ancient history. As the saying goes, “The market is the market.” You don’t control it and nor do we. If you make your initial offer too low as to offend the seller, you are likely to experience some backlash that will not work in your favor. In Florida, the seller is not required to respond to your offer at all. If you really like the home or condo, what do you do next if you get totally ignored or your offer comes back rejected? Counter against yourself? Clearly, the seller has all of the advantages in the negotiation at this time. Let your buyer agent do the homework on recent closed sales for similar properties, your agent will speak with the listing agent to gauge the seller motivation and find out what is most important in the terms and prepare a strategy to get what you want.
We look forward to hearing from you and helping you find your own “Piece of Paradise”.
Click on the links below for a sample of homes currently for sale:
As full time real estate professionals, we represent both buyers and sellers in Naples. If you are a seller, we market your home to local, national and international buyers for the best results. If you are a buyer, we listen well and will find your own “Piece of Paradise” at the best negotiated price and terms.
Tim Cranch at 239-272-4848 Ellie Penaranda at 239-776-5077