Editor's Note: Naples, FL real estate expert Dante DiSabato in a Q&A about the real estate market in the area during the current health crisis.
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What has been the average take away from your clients on how they want to proceed during the virus? Are they putting searches or sales on hold?
This unfortunate pandemic has taken a toll on everyone and certainly everyone handles it differently. Our market in Naples was at a standstill from March 15th through May 1st. Basically nothing came on the market and nothing went off the market on the high-end side of things. However, since the beginning of May there has been a huge upswing in the market with properties and lots flying off the shelves. There is a low inventory and high demand for Naples, Florida.
How are you advertising to potential clients who are looking for properties during this period? Is there a change in negotiating techniques?
I have been doing a lot of online and direct mail advertising, in order to reach customers in their homes during the stay-at-home orders. However, I was not too concerned about advertising and more concerned about the health and well-being of my past, present, and future customers. There is not really a new change in negotiation techniques and I will not use the pandemic as an excuse. There is just more uncertainty of what the future holds.
Have you noticed any trends or movements from buyers since self-isolation began? Are people looking for new specifics in luxury properties?
Most of the trends are moving towards larger condos or single-family homes. Most buyers want their own space now, presumably thinking that if they ever have to go back into self-isolation they’ll have all the space they need.
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Because the Naples market tends to be seasonal, are buyers and sellers handling the lockdown differently than they might in non-seasonal communities?
Yes, most people are still here and most people are coming down during the Summer to look to buy for the Fall. I feel a strong push is coming this Summer and Fall sales-wise. Of course, it all depends on if the country is opened back up for people to travel here. Otherwise, who wouldn’t want to be in sunny Florida?
As a developer as well as a Realtor, has the potential economic impacts of the virus changed your immediate or mid-range business plans?
There are a lot of unknowns right now. We have planned, prepared, and learned from the past to be able to modify or strengthen our business plans in these times. And there are many challenges ahead. However, due to the current market conditions and the lack of inventory, we do not see this as a short-term issue. I always say, 'don’t let a short term challenge get in the way of your long-term goals.'
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