Reduced Prices Attract Naples Area House Hunters

When you’re skimming through the Naples real estate listings, now and then you’ll come across attention-grabbing terms like “one of a kind”, “extremely motivated seller”, or “Reduced.”

After all, who doesn’t like a bargain? Especially when that bargain is associated with a major commitment, who wouldn’t think it’s worth looking into? Today’s listings may no longer be saturated with short sales, foreclosures, and scores of listings reduced by enormous percentages, but patient Naples area house hunters can still strike pay dirt if they are diligent and methodical. Nevertheless, there are some tried-and-true cautions that need to be observed to ensure that the “penny-wise, pound foolish” saying doesn’t wind up describing the result.

Most of what is being written on the subject of real estate bargain hunting falls into the common sense category—for instance

• Low-balling the offer seldom works. The hope that you can create a bargain just by making a shot-in-the-dark low-ball offer is much more likely to result in a resentful homeowner than a successful deal. As in most business transactions, success is more likely to develop when both sides understand the motives and goals of the other. Since any seller whose Naples property is on the market, is assuredly quite well aware of the likely value of his offering, unless the seller is in desperate need of a deal, this tactic is counterproductive (and if the seller does really need to move on, odds are the property has already been reduced to reflect that).   
• ‘As-Is’ also means ‘Heads-Up!’ A home that’s been “reduced” simply means the market is suggesting that an asking price correction is needed. When “as-is” is appended, it could also indicate that the home probably needs work—maintenance work (and work from potential buyers to discover how costly that maintenance is likely to be). In some cases—when a home has been perfectly maintained—it could mean that some features that are expected in today’s Naples area homes are missing. In any case, “as-is” means “heads-up.”

There is one more caution that isn’t usually written about, but which can be easy to overlook when an epic bargain looks to be within reach. Since the process of buying a house takes some time to accomplish, it’s one that often occurs before it’s too late, anyway—namely, it’s not a bargain if it’s not what you really want! It can happen that the asking price is so affordable for a home that has more (or better) features than you thought you could manage, that you are in danger of being charmed into making an offer on something that’s not a very good fit. When you discover a property that’s been reduced to bring it within your price range, it still needs to fit your family’s most important requirements. An Olympic-sized swimming pool can add an exciting and unexpected dimension, but if the place is one bedroom short, in the long run, it might not be such a bargain, after all.

There are many sensational offerings are out there for Naples home hunters, so give us a call when you’re ready to take a tour of those that meet your requirements!   

Angela Graziano and Scott Twait, P.A.
REALTORS®
The Gulf Coast Group
John R. Wood Properties
Direct: 239.771.3900
Email: homes@thegulfcoastgroup.com
Website: www.thegulfcoastgroup.com

The article Reduced Prices Attract Naples Area House Hunters was originally found on The Gulf Coast Group