Bonita Springs Sales and Listings Update
Folks, we're winding down from tourist season here in Bonita Springs, Florida but we're still seeing sales activity. The last several weeks have seen a steady increase in pending and closed sales. The same tune is playing about Bonita Springs real estate, it has to be priced right and when it is, it sells. We aren't over the hump yet but things are leveling off. According to economists the Bonita Springs and Naples areas will maintain level pricing and see and uptick in sales with more movement increases in the fall.
I'd like to thank the stupendous "Mr. J" for passing on this article (through the bars of the fortress) for me to share with you from the Wallstreet Journal - Dated May 6, 2008: The Housing Crisis According to WSJ
Your April '08 Estero and Bonita Springs real estate market report is available and ready for your review. The report shows the units of sale for the month of April for the last three consecutive years. Yada, yada: The data is from the Sunshine MLS which is, of course, deemed accurate but not guaranteed. After all, the information is put into those computers by humans. Enjoy this months Bonita Springs market report and check out the low rise condo sales for April '08.
The following units of sale for each of the categories listed are as follows:
An absorption rate of less than six months indicates a sellers market, an absorption rate of more than six months indicates a buyers market. The current absorption rate for the Bonita Springs - Estero standing inventory is:
If your home is listed for sale or you are thinking of selling your Bonita Springs home here are some tips to make sure your home will be on of the *sold* properties in the next May or June market report:
- Get a proper CMA with comparable sales no older than three months.
- You must figure out the actual monthly holding costs for your home. You can use this worksheet to calculate your holding costs.
- It is *imperative* to have your agent figure the absorption rate for your property - Multiply months on market by the monthly holding costs to figure out if you can afford the home that long. This is what an absorption rate is.
- Adjust the price accordingly - which may be even lower than the CMA. You're either going to bleed now or bleed later.
- Take your property off the market if you can not price it effectively or get it in the condition to compete with its competition.