Life In Bonita Springs Florida - Local Info & Real Estate

 

May 20, 2017

Imperial River East April 2017 Real Estate Market Reports

Bonita Springs Imperial River East

 

Bonita Springs Gulf Access River & Canal Homes

Meanwhile in BN08 are of Bonita Springs, Florida gulf access homes.  Click the photo for all of the real estate details about home sales in the month of April 2017.

Can you believe that seventy percent of the gulf access home sales along the Imperial River from Old 41 to US 41 were between the prices of $200,000 – $400,000.  There are a few gulf access homes that come onto the market slightly under 400K but they go very quickly.  We will have a few weeks of quiet but mid June we will pick up the sales pace again. It’s the perfect time to buy with less pressure and at a marginally slower pace.

The real estate market is ever changing in Bonita Springs so if you need help learning more about current conditions and to initiate your home search contact Angela Griffith. 239-728-7599 call/text

Posted in Market Reports
May 16, 2017

Surviving the Low Skill Real Estate Market in Bonita Springs, Florida

Bonita Springs Home Sales

 

Bonita Springs Listing Agent Goals & Promises

It’s really a challenge to write about some of the issues that I, as an experienced real estate agent, see in the market mostly because it looks like a gripe-fest. The very real fact of the Bonita Springs real estate market is that it is flowing.  Technically, it’s always flowing it’s just that these days the lifting is easier. It’s easier to sell homes because access to credit and money has eased up plus there is less inventory.  I’ll speak for all the die-hard, career agents when I say that “we” sold plenty of real estate during the down cycle. It just took creative measure, hard work and more dedication than most of us realized that we had.

Southwest Florida (the Bonita Springs and Estero, Florida area) are in a bit of what I like to call a “low skill market”. Having 8,000-10,000 Americans turn 65 on a daily basis has strengthened our buyer pool. There are plenty of people willing to spend a week in school and a few hundred bucks to roll the dice at being a real estate.  After all, it’s easy, right? 

Right now there are experienced real estate agents, like myself, interviewing to list homes and condos in Bonita Springs.  Most sellers interview a few listing agents.   I’ve actually lost a listing or two  in the last few weeks because a green agent interviewed and “bought the listing”. They’ve taken the listing at a ridiculous price.  The last listing I lost was taken tens and tens of thousands above the recommended listing price of the home.  It was a home that was to list in the mid $300,000’s.  Three weeks later the home down the street sold bargain basement and really shot their comparables in the foot.  They’ve reduced $25,000 already … to the price that not only me but probably any other experienced listing agent they interviewed recommended. 

I know who the other agents involved were.  We’re all friendly competitors, just some of us haven’t had to have help filling out a contract or to be coached, throughout the transaction, how mortgages work. 

Everybody has to start somewhere but when the real estate market picks up sellers have to choose their listing agent wisely.  They need to have goals and marketing promises and not just fall for the agent who tells them the number they wanted to hear. That’s my advise to you, the Bonita Springs home seller. Besides the flashy listing presentation get a list of goals and promises from the agent, not the agency.  There should be ongoing goals and promises regarding the listing and sale of your home, too. What will they do for you monthly?

If you’d like to learn more about selling your home and to make an appointment to see my goals and promises list call or text Chris at 239-273-7430

Posted in Seller Tips
May 13, 2017

Bonita Springs Real Estate Market Update April 2017

Bonita Springs Market Report Stats April 2017

Home Sales Statistics in Bonita Springs Florida

Another great month in the Bonita Springs real estate market.  The distressed property sales account for less than two percent of our closed sale inventory of homes and condos and currently less than one percent of our active homes and condos are considered distressed; foreclosure or short sale.

Real estate sales in the Bonita Springs and Estero Florida area has been brisk. We’re in a bit of a slow period … but only for a few weeks.  The second half of May and the first few weeks of June are historically slow due to it being graduation season. We’ve not seen the real estate buyers pump the breaks, yet.  Surprisingly, the luxury real estate sales have sustained throughout the entire season and into summer.

Units sold, which includes homes, condos, multi-family and manufactured homes, is not far off of trend. Over the next few weeks more sales will be recorded.  Properties closed sale outside the are and real estate agents who dragged their feet recording the sale will catch up and the the numbers will be dozens higher.  Again, there would me more sold properties if there were more entry level priced homes.  At this time there are only seven single family homes available under $200,000 in Bonita Springs and Estero, Florida.  Those homes may have age related barriers which keep them from financing with many of the typical loan programs.

Our cash sales range at about 60% and the conventional loans account for about 33% of the closed sales.  Rent to own is not popular or necessary in a real estate market as brisk as the Bonita Springs area.  Periodically, seller financing presents but it is not frequent.

Sixty-seven percent of the real estate sales in the Bonita Springs and Estero Florida area are under the price of $400,000 and most of those are in the $200,000-400,000 range as the $200,000 and under range is dwindling.

Keep in mind, real estate is local and especially hyper-local.  You deserve to thoroughly understand the entire real estate market around your home or condo before you get into a purchase offer/contract. Contact Chris or Angela to learn more about buying or selling real estate in the Bonita Springs area before you arrive. We’ve love to make sure we have time blocked in our calendars to help you with your real estate investment.

Posted in Market Reports
April 24, 2017

Imperial River East March 2017 Real Estate Market Reports

Bonita Springs BN08 March 2017

Bonita Springs Gulf Access Real Estate

Here are the latest real estate market statistics for those of you who live in the Imperial River East area including neighborhoods of Bonita Farms, Heitmans, Quail Creek, Plan of Riverside, Pirates Cove, Gull Haven, Brendan Cove, Paradise Village and Serrano.  This is the area of Bonita Springs framed by US 41, West Terry Street, Old US 41 and Bonita Beach Road. 

Steady as she goes!  The largest challenge for the BN08 area is the scarcity of single family homes priced in the entry level.  Sales figures would be greater if there were homes to sell in the $200,000-275,000 price range.  $200,000 is non-existent in the BN08 area of Imperial River East.  City wide there are only eight homes for sale under $200,000 and they likely need work and could have qualifying issues for FHA loans due to  age and state of systems, appliances or roof. 

If you’d like to know more about buying or listing you home in Bonita Springs, Florida contact Chris by call/text 239-273-7430.

Posted in Market Reports
April 16, 2017

Bonita Springs Real Estate Market Update March 2017

Bonita Springs Home Sales March 2017

Home Sales in Bonita Springs Florida

One of the most notable figures this month is the “under $200,000” price sales figures of about 15% of the real estate market.  I just randomly chose to go back two years ago … in March of 2015, the $200,000 and under price point accounted for nearly 25% of our property sales.   If you’ve ever wondered if prices were going up or going down, this shows you that scarcity of inventory is selling off the entry level priced properties and raising the entry level prices of homes in Bonita Springs and Estero, Florida.  Real also: March 2015 Market Statistics

Real estate scarcity is regional so some neighborhoods have bidding wars for homes while others offer the luxury of time to search for the best property. If you need help finding out what type of real estate market you will be dealing with if it’s time for you to buy call or text  Angela at 239-728-7599.

The foreclosure and short sale market is nearly history. We get one or two per month at this time.

The majority of home buyers are cash buyers followed by conventional mortgages. Long story short, if you’re a homes seller your listing agent should have let you know that we’re about 64% cash and 29% conventional mortgages.  Cash purchases tend to run a little heavier during the winter tourist season, historically.

Unit sales of real estate in the Bonita Springs area is steady.  Our prices should remain stable and homes priced up to  $400,000 should continue to sell swiftly after we get through graduation season.  We’ll be a little slow toward the end of May and the first few weeks of June.  Our summer “be-back” buyers will return at the end of June and through July.  Those folks who fell in love with SWFL have been following the real estate market up north and will make a special trip back to buy.  Remember, the current statistics are 8,000-10,000  Americans are turning 65 daily right now.  If they’re retiring to warmth they’re coming to Florida. Brace yourselves.

If you’d like to learn more about the Bonita Springs and Estero, Florida real estate market contact Chris Griffith by text or phone 239-273-7430.

Posted in Market Reports
March 17, 2017

Bonita Springs Real Estate Market Update Feb 2017 | Bonita Springs Homes Stats

Bonita Springs Real Estate Market Stats Feb 2017

Bonita Springs Home Sales Statistics Feb 2017

If you watch the Bonita Springs real estate market closely you have noticed that our cash sales have slowly been tapering off. Whether it’s caused by the tourist season or the Trump bump the buyers have opened their wallets and purchased with a little more cash in the month of February.

A few other noticeable changes have been the the short sales and foreclosures are nearly non-existent.  There was only one closed sale of each.  Back in the you could throw a rock and hit a distressed property.  Now, well, we still have buyers come to Bonita Springs and ask for foreclosures but I have to share with them that the foreclosure boat has sailed and the banks aren’t selling them at a discount any more.

The real estate units sold is healthy and stable. If there was more property to list and sell in the entry level the stats would be higher.  Affordable housing is difficult to find in southwest Florida. Home buyers in Bonita Springs often must look in South Fort Myers for affordable homes.  The San Carlos Park area and Three Oaks Corridor often have homes at more affordable prices than the Bonita Springs market shows.

If you’d like to learn more about the current state of the Bonita Springs real estate market contact Chris Griffith by phone/text 239-273-7430.

 

Bonita Springs Real Estate Market Update Feb 2017

Posted in Market Reports
Feb. 17, 2017

Bonita Springs Real Estate Market Reports January 2017

Bonita Springs real estate Jan 2017

Bonita Springs real estate statistics January 2017

The real estate sales in Bonita Springs and Estero has continued to pick up through tourist season.  There isn’t any ground shaking news to report.  Slow and steady wins the race and that includes real estate sales. 

The short sales and foreclosure market remains a very small segment of the real estate closing sales every month.  At press time there were fewer than a dozen foreclosures and only four short sales in Bonita Springs, Florida.

The majority of closed sales are paid for with cash – 58% cash sales.  Approximately 33% of closed sales in Bonita Springs are paid for with a conventional mortgage. VA, FHA and Seller financing make up the balance of payments.

The largest selling segment of Bonita Springs homes and condos is the $200,000-400,000 range – about 54%.  The $400,000-600,000 range accounts for 18%.  We’ve seen a bump up in luxury real estate sales which often happens after the first of the year.

The units sold per month is running on par with prior months and has sustained level that has shown a healthy real estate market.

If you’d like to learn more about the real estate statistics in your Bonita Springs neighborhood contact Chris Griffith at 239-273-7430.

Posted in Market Reports
Feb. 5, 2017

DIY Projects in Your Bonita Springs Home

The last week was super busy for the Bonita Springs real estate market.  I’ve had the opportunity to list several homes, present property evaluations for a hand full of others and I even managed to show a few buyers homes in several communities around the area.  In a single day I was from a high rise on the beach in Park Shore Naples to a condo in Casa Bonita II in Bonita Springs.  In between were trips to Village Walk, Spanish Wells, Highland Woods, Edenbridge, Brendan Cove, Paradise Village and Serrano

This is a mere example of a fraction of the properties I visited this week.  In short, I cross a lot of thresholds.  I am an expert and I can spot an impostor and a DIY job a mile away. 

The devil is in the details and that’s where most DIY projects go sideways, the details, the little itty bitty items.  A home owner is able to live with them but a home buyer sees a half-ass job and the adding machine in their head starts adding up the time and money it is going to take to make it look right after they move in.

Take this DIY electrical job I found in Bonita Springs, for example.  It was one of several that I witnessed this week.

Bonita Springs DIY Project

Someone thought, I can swap out that last switch for a dimmer or multi-setting  switch and did so but the details  of removing the switch plate without buggering up the paint were disregarded.  Flash forward to the owner moving out and listing the home for sale.  They’ve removed all of the furnishings from this beautiful Bonita Springs home.  There really isn’t anything left to look at except for, well, the imperfections.  A fouled up light switch and paint job in a high traffic area next to the ingress and egress of the sliding door.

Yes, it can be fixed but that’s not the point. The point is that a home owner trying a DIY isn’t really doing it with success if someone else has to re-do the job.  It also makes the next potential owner, the buyer, wonder what else could have been “short cutted” around the house.

Posted in Seller Tips
Jan. 14, 2017

Bonita Springs Real Estate Market Reports December 2016

Bonita Springs Real Estate Dec 2016

Bonita Springs Real Estate Market Reports December 2016

December in Bonita Springs was just another month in real estate, not too quiet not too busy. Coming off of the election and heading into the holidays kept things from getting too busy.  The sales “units sold” was on par with other months.

Our short sales and foreclosures in Bonita Springs remain a a drip pace. There are very few but there are always a couple of them in the MLS system.  Homes that begin foreclosure, nationally, take about twelve-hundred days to foreclose.  The Florida foreclosure market is down ten percent.

The most impressive changes that I have seen in the Bonita Springs real estate market is the cash drying up. This month we are down to about 50% cash transactions. Years ago, due to the affordability of homes in Bonita Springs, we were in the seventy percentile for months on end.  It’s slowly changing and the interest rate hikes are sure to help cause a spike in mortgages from those who decide to buy before significant rises.

Our largest segment of home and condo sales in Bonita Springs and Estero continue to be the $200,000-$400,000 price segment of housing.

If you’d like to learn more about buying or selling a home in the Bonita Springs or Estero Florida area contact Chris Griffith at 239-273-7430.

Posted in Market Reports
Jan. 12, 2017

Bonita Springs HOA & Quarterly Fees

Bonita Springs HOA Gate

HOA Fees and Quarterly Fees in Bonita Springs

Recently I had a potential buyer contact me about one of my listings in Bonita Springs.  As the listing agent I make sure that all of the fees are disclosed up front. Surprises are bad for business in SWFL real estate. When the buyer responded to the email with the information about the property,  it read: I'll never consider a place that has, taxes, quarterly maintenance and yearly HOA.

Well, just to gauge expectations for all real estate consumers.  There are always property taxes.  The HOA, condo fees and master HOA fees all depend upon what type of community you purchase in, as in the level of amenities there are available that will have to be maintained. That is why it is so important to speak with a buyer’s agent to start learning about what you are looking for in real estate.

Condos have set fees that not only maintain the building and the common areas but save for replacement of items such as the swimming pool, roof, parking lot, painting; the expenses that would be incurred in private home ownership, just collected quarterly not as the repairs occur.

All that being said, one can not purchase a condo outside of an HOA or without quarterly fees.  It doesn’t work that way.  If a community has gates and offers even the smallest amount of amenities it needs upkeep and that requires money.  It is not possible to own a home with any type of common area, like gates or even the smallest amount of amenities without needing money to maintain it. 

Last, Bonita Springs is about 75% gated and deed restricted. Most of our properties have some sort of financial obligation attached to maintain the common areas or structures on site.

Posted in Buyer Tips