Finding Real Estate Deals in Bonita Springs

For just under twenty years I have helped buyers and sellers of real estate in the Bonita Springs area.  One of the reoccurring themes I have noticed is that buyers will ask me to call them when I see a great deal or a “gem” that they shouldn’t pass up.  It might surprise you to learn that the percentage of real estate buyers who act on the opportunity when I notify them is slim to none.  Really.  To that end, I will start the list and lead with …

Bonita Springs Real Estate Deals1. Act on the opportunity - plant the seed, already! Understand the current real estate market and learn why it is a good opportunity and then act.  I can lead by example on this having purchased my own real estate investments in the Bonita Farms and Nuttinglikit Grove communities most recently.  I’ve had friends walk into both homes and say, “Gosh, when you find a gem like this, let me know so I can get one.” Well, truth be told this “gem” was sea foam green in every room.  I painted it Sherwin Willliams Navajo White in every room and it was immediately gem status for about two grand.

2. Follow the real estate market and if it is trending upward for an extended period of time get in and don’t hold out for 100% of your “wants and needs” list.  Recently, I was working with buyers who were looking in Rapallo and I overheard one of the buyers say to the other.  “It was nearly perfect except I can’t stand a stainless steel sink.”  This is such an easy fix that it is laughable.   I also had a buyer in Wildcat Run who didn’t like the mirrors in a kitchen back splash.  It’s an easy fix and the right crew can remedy that situation for less than it will cost you in the long run of shopping and having prices rise around you.

3. Don’t get hung up on what So-in-So paid for their condo, home or villa. Your friend bragging about buying a condo in two years ago at $175,000 can not compare to today’s prices which are selling in the low $200,000’s.  (Sept 2016)  Drawing your line in the sand saying that you’re not spending over $175,000 when there hasn’t been any condo close sale in that price range for years is unrealistic. The real estate market requires excess inventory for prices to go down.  That is not happening and we have 8-10,000 boomers retiring every day in the US of A ensuring that the inventory won’t build up for quite some time.

4. Be at the ready for the deal that comes down the pipe.  If you are going to be a cash buyer, get liquid.  If you are going to finance, speak to a lender  who is local and have your preapproval in hand and documentation ready so that it will only need updated. If you haven’t gotten a mortgage in several years let me share this with you about financing:  The more you have, the more you have to prove and that takes time.  If you are a fortunate person with a comfortable life be prepared to start digging through files and getting bank statements, etc.

I recently wrote a great piece on first time buyers that is just as helpful for those who have not purchased a home in the Bonita Springs area for a while.  Read also: First Time Home Buyer Guide

5. Don’t be afraid to look outside of your original are if you have found that real estate prices have gone above your budget in Bonita Springs.  As of September 2016 there were only three single family homes for sale in Bonita Springs, Florida under the price of $200,000.  About 7 miles north of Bonita Springs is a community called San Carlos Park which offers more selection in single family homes under $200,000 plus a variety spanning the $200,000’s. 

If you’d like to learn more about buying a home in  the Bonita Springs area or even in San Carlos Park call or text Chris Griffith at 239-273-7430.