Things Are looking up!

Posted At : February 3, 2010 6:40 PM | Posted By : Admin
Related Categories: Sanibel and Captiva Market Update

HI! Good news is all around us...Here are some of my notes from our business meeting this morning.

Foreclosure watch LeeCounty
1228 last month 2010 Jan
2304 Jan 2009   numbers are decreasing.
Building permits in LeeCounty
34 Jan 2010
 13 Jan 2009
Florida realtor article on home starts says that the first indicator of the market rebounding is the increase building permits. It means prices are coming up to make building a viable option. Yes!
Lee Co. set a record last year for sales. 16,260 single family sales vs. 8272 the year before ! (it doubled)
Real estate pro.org significant increase in people searching over a year ago
David Wright from San cap community bank talked about owner financing. Talk to sellers about the idea of holding a mortgage. The buyer can take out a bank loan to pay off the seller’s loan and costs, and then a seller can hold a mortgage for a qualified buyer, get 6% and possibly more for their home! Dave is a pretty creative guy…

 

Comments (0) | Print | Send | del.icio.us | Digg It! | Linking Blogs | 10 Views

Comparison Numbers

Posted At : July 24, 2009 4:45 PM | Posted By : Admin
Related Categories: Sanibel and Captiva Market Update

 

 

January 1st to June 30 (first 6months) Sanibel
unit sales
 
 
 
2008
2009
 
RES
   97
   66
-31.90
average $
 923,120
823,443
-11.60
 
 
 
 
CON
   60
   43
-28.30
average $
 750,112
 751,023
0.12
 
 
 
 
VAC
 9
 5
-44.40
average $
 424,728
 407,000
-4.20

 
Looking at all Sanibel Inventory for the first 6 months vs. the same period, we are down -31.2% in Unit sales. 
 
Look at average prices for Condos. The average of the higher priced stuff that has sold and cheaper units are averaging the same. Good news for my past condo buyers. 
 
All indicators point to the Fall as a big buyer’s month. Fence sitters are getting news reports of increasing pendings which are making them trigger happy. Overall Optimism has been reported by NAR and other agencies.  Remember a BUYERS Market represents excellent values.

Comments (0) | Print | Send | del.icio.us | Digg It! | Linking Blogs | 79 Views

Market Update

Posted At : March 22, 2009 10:05 PM | Posted By : Admin
Related Categories: Sanibel and Captiva Market Update

Pricing CRS

According to the CRS magazine
“Realtor Frazier from California says when a properly priced house comes onto the market, it excites prospective buyers and has something of a halo effect, as they imagine their idyllic lives in the home. But when a home is priced too high, it has the opposite effect. “They look for every possible flaw, real or imaginary” he says. Buyers are deflated when they like a home but it is overpriced”.
 
In today’s market, price is everything. Despite the overall downturn in the market, homes are still selling, and people are moving. But with high inventory levels in many markets across the country, buyers have a lot to choose from, and sellers need to get their attention. Setting an attractive price goes a long way toward getting those  potential  buyers in the door. 
 
 
Case Studies
Beachview update Eagle Run sold recently and here are some reasons:
·         Was $1,095,000 and was lowered to $994,000
·         75% of the listings in Beachview are over $1 million
·         50% of the sales are lower than one million dollars
 
 
Market watch update
 
Median price info for Sanibel
RESIDENTIAL                    CONDOS
07 $790,000                      $670,000
08 $700,000                      $612,500
Down 13%                         down 9%
 
Median price for South Ft Myers 33907,33908, 33919
RES IDENTIAL                   CONDOS
Down 18.1%                     down 20.7
 
 
From 2001 to 2006 Lee county constructed more homes than there were people to absorb. Currently there is the opposite effect taking place. We are not building enough and inventory levels are dropping. This usually indicated the beginning of a stabilizing market.
 

 

Comments (0) | Print | Send | del.icio.us | Digg It! | Linking Blogs | 107 Views

Market Statistics- 2007-2008 Comparisons

Posted At : January 28, 2009 11:37 AM | Posted By : Admin
Related Categories: Sanibel and Captiva Market Update

 

Sanibel Residential
 
                             2008        2007       % change
Unit sales            148          143            ↑ 3.5%
Volume            952,699    1,024,007   ↓7.5%
 
Sanibel Condominium    
 
Unit sales              95             87             ↑9.2%
Volume           731,648     782,644    ↓7.0%
 
Captiva posted its largest average sales price of all time at $3,465,385!
 
Our market is not like the national, state or local Ft. Myers market… The difference is just that… we are different, no oversupply, low crime, eco-friendly, walk ride and skate and no traffic lights!

 

Comments (0) | Print | Send | del.icio.us | Digg It! | Linking Blogs | 209 Views

Sanibel-Captiva Real Estate outperforms the market!

Posted At : October 11, 2008 5:38 PM | Posted By : Admin
Related Categories: Sanibel and Captiva Market Update

 
Average price  San-Cap MLS  YTD 
2007   $ 1,006,317   
2008   $953,917            Down  5.5%    
 
Unit sales         San-Cap MLS  YTD 
2007   325
2008   337               Up 3.5%     
 
Unit Sales     Naples, Bonita and Estero MLS YTD
2007  4109
2008  4778            Up 16%
 
Dow Jones Industrials
2007 October 5   14,066
2008 October 6   9699             Down 45%
 
Summary
Real Estate on a unique barrier island that has so much dedicated green space and no high rises is valuable.  There are some excellent values in our market right now. Inventories are decreasing which usually indicates a bottoming of the market and a transition to a higher buyer demand.  I’ve heard that last month the Naples MLS reported a 107% increase in pending sales for September! The market may be turning ahead of the news reported.  Considering the decrease over the last year in the stock market, scarce island real estate is the best alternative of available options.  Park your money on high demand island Real Estate.

Jay Richter-John R. Wood Island Real Estate, Inc.-Broker

Comments (0) | Print | Send | del.icio.us | Digg It! | Linking Blogs | 345 Views