Life In Bonita Springs Florida - Local Info & Real Estate
Bonita Springs Real Estate Statistics Aug 2014
This is a decade of sales that occurred during the month of July for the past 10 years. Note the recovery since July of 2006. Real estate sales have steadily increased since 2007. The sale in July 2014 are consistently more stable.
For the fifth month in a row Bonita Springs real estate has sold mostly in the $200,000-400,000 price range. It is out selling the $200,000 and under price point due to the bottom selling off and that price point of real estate diminishing from the bottom up.
The condition of Bonita Springs and Estero real estate is mostly equity, meaning it is not a short sale or foreclosure. This month there were few short sales but a slight bump of foreclosures. It’s simply due to the swift real estate market moving and foreclosures often being price well. The foreclosures are priced well, however, they often see multiple offers and sell over list price. The short sale are fewer because prices are rising and fewer home owner are “under water” so they are able to sell their real estate and cash flow.
Bonita Springs real estate is financing mostly with cash. We’ve been a cash heavy real estate market for sometime now. Financing, if chosen, is mostly conventional. The mortgage underwriting process is still not without it’s challenges, especially in condominium complexes. If you’d like a referral for a competent mortgage broker to get your real estate transaction closed, call or text Chris Griffith 239-273-7430.
Downtown Bonita Springs Florida July 4th 2014
The Downtown Bonita Springs 4th of July events are held at Riverside Park in Downtown Bonita Springs, Florida. Admission is free and parking is free. Entertainment is being provided by Railhead and the Sarah Hadeka Band. The Liles Hotel and Artists Cottages will be open. Tour the facility and historic artifacts on display.
7:30 a.m. 5K Race Begins
9:00 a.m. Parade Starts
4:00 p.m. Party in the Park Starts
5:00 p.m. Bed Race Starts
Dusk Fireworks and Laser Light Show in Riverside Park
The July 4th festivities are at Riverside Park located on Old US 41 Road. If you need an address for your GPS 10450 Reynolds St, Bonita Springs, Florida. For more information contact the City of Bonita Springs. Here are some sights from years prior July Fourth Events in Bonita Springs, Florida:
Bonita Springs Security and Defense
So there I was, sitting in a home inspection and multi-tasking taking a phone call when I decided to share this photo with you. This is a common sight in the Bonita Springs, Florida area. You can see this in my house, my daughter’s condo and numerous homes and condos that I’ve been in throughout the years. It’s mostly found near the front door or in the master bedroom. What is it?
Give up? Well, it’s the great American golf club. The stealthiest defensive weapon in southwest Florida. No permit needed. I get to visit a lot of homes. I’ve sold real Bonita Springs real estate for over 15 years and can tell you that I’ve see a random golf club by a lot of front doors and beside night stands over the years.
For the record, I’m not a golfer and have a club. Not all of the homes I’ve seen them in are owned by golfers they just appreciate the “weapon”. I’d probably get a better shot off on an intruder than on the fairway, anyhow.
I’m curious … Is there a golf club by your front door?
Bay Front Waterfront Homes and Condos
Little Hickory Bay is one of the largest bays in Bonita Springs offering the largest selection of homes and condos with waterfront views. While Estero Bay is large, there are a limited number of homes and condos with waterfront views. The body of water (not the condo with the same name) Little Hickory Bay is located in Collier County with the Bonita Springs mailing address. It’s on the south side of Bonita Beach Road and separates the Barefoot Beach Community from the Bonita Shores community.
Homes and condos with views of Little Hickory Bay included: Homes in Bonita Shores, Hickory Harbour Condo, Little Hickory Bay Condo, Hickory Bay West Condo, Bridgewater Condo, Barefoot Beach Homes, Barefoot Beach Club Condos
Bonita Spring Real Estate Financing
Believe it or not the the "cash" figure is low this month for Bonita Springs real estate sales. The Bonita Springs area has been experiencing over 70% cash transactions in the recent past. Conventional mortgage accounts for the second largest funding source of real estate.
Bonita Springs Distressed Real Estate
This month had a few percent more than months prior. Our distressed real estate market is evaporating, the under water homes have slowly come above water. The foreclosures have sold off and we have fewer short sales than ever.
Historical Real Estate Statistics
We're keeping pace with units sold in the 2005 boom year. Prices have continued to climb. As a result there are fewer choices in the 100K and under price point. It is a matter of time before there is no real estate for sale under 100K. At time of publication there were only twenty-two listings of homes and condos under $100K, excluding manufactured homes.
Bonita Springs Real Estate Prices
This is only the third month in a row that the $200-400K price range has out paced the $200K and under price point ... because the 100K and under price point of real estate is vanishing. What this means is that in the $400K and under price point it is certainly a sellers market. It is not uncommon to see multiple offers on well priced real estate, especially if it's in good condition,
If you have questions about the local Bonita Springs real estate market or a specific local neighborhood feel free to call or text Chris at 239-273-7430.
All information is deem accurate, not guaranteed and subject to change. Check the date on this report for freshness. If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.
Great Calusa Blueway & Imperial River
The Great Calusa Blueway is one of southwest Florida’s largest outdoor activity resources, hidden in plain sight. Since it’s on the water, you do have go out on the bays and rivers see it. If you’ve been on Estero Bay you may have even passed the signature trail markers which display the crisscross design of a canoe paddle and a kayak paddle with the marker number. By the way, all of the markers loosely coincide with indicators on the trail maps located on The Great Calusa Blueway official website. The maps are not actual navigation charts but guidelines for getting around the bay, so don’t end up on the news.
The Estero Bay Blueway trail actually beings in Bonita Springs at the Imperial River, just east of where the river empties into Fishtrap Bay. You should easily find “marker 1” at the opening of the waterway trail which is unofficially called “The Snake”. I recommend that you Google Earth that area, if you haven’t already. This area is great paddling and there aren’t many motorized vessels back there due to the depth of the water. You’ll enjoy a quiet paddle, see plenty of water fowl and the usual jumping mullet. If you take the longer route when it forks, there are more trails and less wind.
Changing tides can affect the direction of the water flow through this shallow area so check the tides to make sure that Mother Nature will cooperate with the direction you plan on going. If you’re lucky you can grab a snack and go with the flow for a while. Since you’re paddling through a large mangrove estuary you’ll hear very little man made noise and won’t see any buildings until you come out at “marker 3” where you’ll be greeted by the high rises of Bonita Bay.
The Blueway marker trail continues along the east side mangroves for miles and, in fact, circles the entire bay and exits out Matanzas Pass at the north end of Fort Myers, Beach. The last time we paddled we started at the Imperial River boat ramp on US 41, through the first four segments of the Blueway and out to Bay Park North near Big Hickory Seafood Grille and Marina. It was one of our first trips paddling since the water warmed back up so we didn’t want to overdo it.
If you’re looking for something to do this summer consider exploring The Great Calusa Blueway. You can start planning by visiting the website: www.CalusaBlueway.com. When you get to the website click the tab labeled “Plan” and it will launch a list of links for The Blueway maps which take some digging to find.
The Blueway site is comprehensive so there is a ton of information including tips for places to put in, lists of local outfitters if you need to rent watercraft, accommodations near the trail or places to overnight along the way. There are even links to Blueway maps for Pine Island Sound and the Caloosahatchee River if you exhaust your travels on Estero Bay, this summer. Best of all, they now have a mobile app you can download to your smart phone.
Have a fun, safe time paddling the Blueway this summer. Make sure you pack plenty of provisions and let someone know where you’re going so they can check up on you later to make sure you made it home safely. Happy trails!
This article special to Southwest Spotlight Newspaper
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Multiple Offer Home Buying Question
Lately, the Bonita Springs real estate market has really picked up. Entry level priced real estate is moving quickly, with multiple offers and pickin’s are slim. Recently, I was working with young home buyers who found a darling home on a creek – technically gulf access. It needed a little work but it had that charm that you don’t find in a cookie cutter development of homes.
We got all of the paperwork together to place the offer and we finally got to “What price would you like to offer for this home” part. It wasn’t necessarily a low offer but considering that there was another offer on the table it might be best to really think about this carefully. The buyers were only a few thousand lower than what I suggested so I asked the million dollar question, “If you woke up tomorrow and you didn’t get this house would it bother you?” The answer was a resounding, yes!
We’re in a competitive real estate market that you don’t want to fool around with. I couldn’t have found them anything quite that charming, on a creek or waterway, in that price range any time soon. Those buyers realized that the few thousand dollars was pennies in a monthly payment and the love for harsh negotiation had to step aside for the practicality of actually having the winning bid. Happily, they decided it would be better to place a better offer and they were, in fact, awarded the contract. That combined with terms that were appealing to the seller and a contract package that included every addendum with a neat little bow on top made all the difference in the world.
If you’re looking for an advantage in a competitive market, feel free to call, text or email. I’d be happy to put my years of experience and negotiating skills to work for you, too. Chris Griffith 239-273-7430.
Winning the Multiple Offer Real Estate Bid
Recently, I listed an entry level priced condo at Lakeside Hideaway in Bonita Springs Florida. The market has little inventory and this condo was in pristine condition, being sold furnished by motivated sellers who priced it fairly. Within a day or two offers came in; I believe 7 offers came in, in total.
The reason why I am telling you this story is to help you gauge how important it is to truly understand the real estate market before you get into it and how important it is to pick an experienced, aggressive real estate agent for the job.
Here’s the scoop on the condo. Three bedroom/two bathroom/priced at $125,000.
The offers that came in range from $90,000 to $128,000. Here’s what I can tell you about these offers. Some of them were represented by unskilled real estate agents, plain and simple. With such scarcity of inventory why would someone come in 28% off of list price, especially when it was “priced well”?
Two or three of the offers were in the middle somewhere. One offer had an agent that just didn’t grasp what “we are in a multiple offer situation so bring your highest and best offer” meant and kept texting me with “do you think 96K is enough?”, “how about 98K?”, “My buyer will offer $105K but that’s his final offer”, “OK, he’ll go $115K”" but that’s his final offer”. I decided to call that tactic “escalating texts”. Were you the real estate buyer represented by the text bidder? When she didn’t get the contract for you she was furious, by the way. She should have been mad at herself for losing that condo due to her ineptitude. While she was busy texting other agents were busy bringing in paper offers with bonafide numbers on them.
The final contract that was executed and has since closed was actually just below list price, not over list price. It was because it had the PRICE and TERMS the sellers were interested in. The buyer’s agent brought a clean contract, all of the addendums, proof of funds and had the application filled out within a day or two of contract.
Folks, we’re in a low skill market again … that means that the agents who are inexperienced, lazy, work part time or don’t give a crap are out there helping innocent buyers NOT buy the real estate of their dreams. Just an FYI. Maybe part of the questions a buyer should ask their agent is what do you do when there are multiple offers on a property that you’re trying to buy.
Bonita Springs Real Estate Market Statistics April 2014
The Bonita Springs real estate market hasn't been this healthy for some time. Check out how few foreclosures and short sale we have. It's been a heck of a winter real estate season. Real estate has been selling like hot cakes and prices are going up. That means fewer and few homes under water, less foreclosures and short sales are far and few between.
Flood Insurance Reform Bonita Springs Fl
I am writing to update you on the recent passage of legislation to reform the National Flood Insurance Program (NFIP) and resolve insurmountable rate increases stemming from the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12; P.L. 112-141).
As you know, BW12 was enacted to ensure the solvency of the NFIP, but it became apparent that these changes would negatively impact Florida's families and real estate market. I appreciate you contacting my office to share your concerns and letting me know about the problems this law was creating in Florida.
From the beginning of the debate on flood insurance reforms, I supported solutions that would provide a manageable program for policy holders to count on as well as pave the way for sustainability. That is why, on +March 13, 2014, I supported the Homeowner Flood Insurance Affordability Act of 2014 (H.R. 3370; P.L. 113-89), which repeals certain premium rate increases on homes purchased or uninsured after the enactment of BW12 and restores manageable rates on homes that have complied with historic flood mapping. Additionally, included in H.R. 3370 are provisions of an amendment I authored that would require the Federal Emergency Management Agency (FEMA) to disclose data that provides the basis for changes in flood premium rates, authorizes monthly premium installment payments, and ensures that mitigation activities undertaken by a policy holder will be considered when the agency determines risk premium rates.
Florida leads the nation in participation of the NFIP and these reforms were critical to the well-being of its property owners. I am pleased that H.R. 3370 was signed into law by the President on +March 21, 2014. Please know I appreciate you bringing this issue to my attention, and I look forward to your continued input as H.R. 3370 is implemented. It is an honor and a privilege to serve the people of Florida in the United States Senate. For further information on the NFIP please visit www.floodsmart.gov.
United States Senator
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