The $1.00 Deal List: The Best Deals in Naples Real Estate - Don't Miss Out!

I don't know a buyer, investor or even Realtor out there that isn't looking for "the deal of the millennium." Deals are here, there and everywhere - depending on your definition of a deal.

I can find you a short sale or pre-foreclosure that may take three months to six months just to get an answer as to whether the bank will agree to the price, or not. I can find you a bank owned home (foreclosure or REO) for $24,900 in Naples, Florida today (April 14, 2009). I can find you waterfront home with three bedrooms and Gulf access in Naples for under $100,000 (seriously, it's there on the Naples MLS, I just checked).

Lest you get too excited, keep in mind, "one man's paradise is another man's hell (women get equality here)." A Gulf access home sold "As Is" with raised floors that are separating from the interior walls and falling back to the earth, may not be your picture of waterfront bliss. Or a two bedroom condo in a community of predominantly rental units, may not be the community where you dreamed of retiring.

At the risk of stating the obvious, it's a buyer's market and buyer's have the upper hand when it comes to negotiating price today, period. My advice, as a broker and fifteen-year veteran, is to concentrate on the location, community and style of home (condo, single-family, attached or detached villa, etc.) that meets your needs. And the deal or, better yet, value will come.

A special note to investors: Be wary of the, "I can't possibly lose money on this deal," deal. You can and you may very well. Just because it's going for thirty cents on the dollar doesn't mean it's going to sell for fifty cents on the dollar, even if you install granite and neutral paint. "Flipping" is a relic of the past. And remember you have closing costs, real estate commissions, carrying costs and rehab expenses to recoup.

For those of you looking for the "$1.00 Deal List," it does not exist, yet, in Naples. Sorry to burst your bubble of anticipation. What you will find are many excellent values that were not available this time last year. Naples Florida remains a prized location on the Gulf of Mexico that is now a bit more accessible to almost anyone who desires a truly amazing place to live, work, play, and enjoy life.

Those of you that are looking for the vacation deal of a lifetime or a family home you can really afford are in the driver's seat. Keep your sales horizon above five years and do your homework. Use the public records to find closed sales and ask your Realtor for the properties listing history (she should have it at her fingertips). Then make a reasonable offer and feel confident that you are getting the best value available today for your hard earned dollar.

Great deal hunting! May you find your piece of paradise in Naples Florida Real Estate.