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Real estate has several unique characteristics that affect its value. There are economic characteristics and physical characteristics. Real estate is a product to be purchased but it is different from anything else due to the characteristics that will be discussed here.

The economic characteristics that influence value are scarcity, improvements, permanence and area preference. Scarcity is simply demonstrated in the saying, "They aren't making any more." The supply of land has a ceiling and cannot be produced more than what exists today. This value of this supply however, is influenced by other characteristics.

Improvements, such as buildings on one parcel of land may have an effect on the value of neighboring parcels or the entire community. If a large company builds in a certain depressed neighborhood, the value of living their will probably increase because of the introduction of jobs. This value would impact on neighboring communities, thus increasing value in some ways to the real estate in these areas.

Permanence has to do with the infrastructure. As buildings, houses or other structures are demolished, the infrastructure, such as sewers, drainage, electricity, and water remain intact. Permanence effects real estate, or the type of infrastructure. If you buy a piece of land in an area with no utilities, drainage or paved streets, it will most likely be worth less than a parcel of land that has this infrastructure intact and developed.

Area preference refers to the choices of the people in any given area. This is usually referred to by most people when they talk about real estate as, "location, location, location." The location of a preferred area, for whatever reasons, is what makes values of homes higher. Conversely, the location of a nonpreferred area, for whatever reason, is what makes the values of homes less. 8000 square foot brand new homes on the coast of Long Island's, East Hampton will be worth much more due to their area preference, over an area with 1200 square foot starter homes in the middle of Long Island, located next to a garbage dump.

The physical characteristics of land represent its indestructible nature, immobility and nonhomogeneity. Working backwards, we'll start with nonhomogeneity. This simply points out that no two parcels are the same. Two pieces of land may be very similar, but every single parcel is different geographically because each parcel is located in a different spot. This includes two lots right next to each other. It is important to remember that parcels are created by subdividing land, so as one large parcel of 20 acres is subdivided, each individual lot becomes its own separate piece of land.

Land cannot be moved, therefore it is immobile. Even when soil is torn from the ground, the part of the Earth's surface will always remain. It is important here to note how this physical characteristic affects real estate law and markets. Immobility of land is the reason why real estate laws and markets are local in nature.

The indestructibility of land simply means that it is durable and cannot be destroyed. It can be damaged by storms and other disasters, but it remains and weathers the changing times and will always be there. This is a main reason why land is talked about as being a sound investment.

So the basic characteristics of real estate include scarcity, improvements to the land, permanence, area preference, nonhomogeneity, indestructibility and immobility. Please note there is a big difference between land and real estate. Land is the the part of the earths surface, subsurface and air above it. Real estate is anything that becomes attached to land. So when you're looking for investments, it is important to note the infrastructure of the area, the surrounding neighborhood and the preferences of the area or...location, location, location!

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When it comes time to get the deal done for both buyers and sellers, we line up all the legal documents (there are many!) and make sure the train runs on-time. You can expect us to carefully manage the process. Most importantly, you’ll be apprised of the deal’s progress each step of the way. We’re friendly, competent guides who’ll help you reach the best possible outcome and achieve your real estate goals.

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Lely Resort Naples Florida is one of the area's top communities with upscale amenities and a wide variety of home choices. The spans approximately 2,500 acres and residents enjoy top-notch amenities at the Players Club, including two large lagoon-style pools, a vibrant tennis program, extensive fitness facilities and two restaurants. The wide sidewalks invite residents to bike and walk alongside the lushly landscaped boulevards. Two public on-site golf courses plus one private course are also available.

Lely Resort is not only a beautiful community with wonderful amenities, a great location and a varied selection of properties for sale; it is also a very stable community in terms of the number of sales. Home buyers can find any property type in Lely Resort, from two bedrooms/two baths condos to townhouses and coach homes with one or two car garages. There are attached villas available, single-family homes in a large variety of living areas and estate-sized homes. Over forty different subdivisions offer a property for every lifestyle and budget.

Lely Resort real estate sales have been in perfect balance for the last eight years. The local MLS will show between 180 and 240 homes for sale in Lely Resort at any given time of the year. Approximately half of these listings are homes and the other half condos or townhouses. In the past eight years, an average of 265 properties sold each year, keeping the perfect balance between listings and sales. 2014 and 2015 were the two exceptions. Sales spiked to 365 sales in 2014 and reached 315 sales in 2015.

The sales price was between 94 % and 96% of asking price for the past six years. The median list price rose from $349,000 in 2013 to $429,000 in 2014 and dipped to $395,000 in 2017. The number of days on the market rose slightly from a record-low of 54 days in 2014 to 98 days in 2017.

Prices have recovered from the low in 2011 and are back to pre-recession levels for the most part. Prices have yet to hit the record highs of 2004 and 2005.

Whether you make Lely Resort your permanent home or winter home, this resort offers a wonderful lifestyle, great selection of real estate for sale and a healthy resale market should you want to change your home down the road. Most buyers that are in the market for a vacation or secondary home start out with one of the many condos or the townhouses in the Olé section. As they stay longer in Naples or approach retirement, many opt for a single-family home to have room for their children and grandchildren when they visit.

The fabulous Players Club with its resort-style amenities is a big draw for friends and family members and will guarantee a steady stream of visitors to your new Lely Resort condos.

How to Sell Homes in This Market

When it comes time to get the deal done for both buyers and sellers, we line up all the legal documents (there are many!) and make sure the train runs on-time. You can expect us to carefully manage the process. Most importantly, you’ll be apprised of the deal’s progress each step of the way. We’re friendly, competent guides who’ll help you reach the best possible outcome and achieve your real estate goals.

Call us Today


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