Unrealistic Expectations
It still amazes me how Naples homeowners still perceive that their homes are worth 2005 market prices.
While uploading the new MLS databases the other day, I came across a home in the Ventura subdivision of Pelican Marsh offered for sale at $849,000. A nice 3br/3ba detached villa with 2098 sq.ft. - $404 per square foot! A nice home for sure, but worth worth an additional $121 per square foot more than the average asking price of the other properties for sale? I don’t think so!
There is nothing about the home that justifies it’s asking price. I then noticed that it is a limited services listing and the listing broker is located in Boca Raton! And there is a full 6% commission in place!
This is obviously a case of the owner thinking they know more than the market. There are plenty of real estate firms in Naples who would have gladly entered into a limited services listing contract with this owner, but they probably did not wish to look stupid listing this property at that price. So this owner went out and found a realtor who would do what they asked and not be limited by market realities.
People, get over yourselves! Your homes are worth what the market says they are worth - not what you may have been able to get for them 2 to 3 years ago at the height of the craziness here in Naples. If you don’t want to sell a home for today’s value - TAKE IT OFF THE MARKET!!!
