Life In Bonita Springs

Maybe Someone Thinks Black Eye Sores Are Sexy

Ever have one of “those days”? You know where the whole thing slides one way. You’re not sure why it happened or how to stop it?

In retrospect, as my day ended, I can share that I was grateful for my grocery cart not having a bum wheel. You know those floppy wop de wop wheels that make your car turn in circles, because it was smushed in the lot? It was the best thing that happened to me all day. I told the manager at Sweet Bay grocery who bagged my groceries so.  That's when I knew I there was a bright spot.

It was one of those days. I wasn’t blue or angry. It just was what it was and it was ending….right after I got dog food for LBD and headed home to write a sale contract. Yes, Bonita Springs real estate is *still* selling.

At any rate, I met my lovely buyers at the development they had looked in two times before. They’re ready to buy, all the stars are aligned. We meet at the gate, they follow me in and then we park at the clubhouse to consolidate vehicles and get our search on. I wait until they get in the car and they’re belted and I lock the doors (less able to escape) before I say, “I just want to show you something and I don’t want you to wonder what happened or if I need “help” or something”.

I pull my sun glasses down and show them the sporty new shiner I got at 4:30 a.m. this morning on a glass ‘o’ water run. There was a small miscalculation in the darkness of my living room. I sort of zigged when I should have zagged and met the business end of a library book case that has been in that very spot for 11 years. I don’t get what happened but I have the souvenir of the whole event.

There will be no photos. That is all I have to say about that. Almost… If you know me or see me somewhere just know that I wasn’t mugged, I didn’t lose a fight and I’m not a battered woman.

Enjoy your weekend, Bonita Springs.

PS: If you’re worried about Hurricane Ike, stalk him here: www.StormPulse.com

Bonita Springs Mailbox Theme Number Two

If it's not fish, it's parrots.  In the last week I have found two parrot mailboxes.  This parrot mailbox is in old Bonita Springs just off of Dean Street.  I wish I had a bike.  If I did I'd pedal my brains out all over those back streets.

There are tons of older homes, historic homes and even a few groves or orange trees sprinkled around.  Dean Street is also the home of Bonita Springs Elementary School.   It still stands today.  It is a red brick building with green window transoms.  It's just a beautiful building.  There's a playground behind it and a few old churches in the area, too.

If you decide to take a drive to see the school or the homes in Old Bonita Springs stop at Brauns on the corner of Dean and Old 41 for ice cream, first.  It's the best ice cream deal in town.  It's right across the street from the Shangri-La Hotel.

Wonder if they taste like grapes...

Periodically, I do try to enjoy the spoils of Southwest Florida.  We have some incredible parks, nature preserves, strands and waterways.  Oh, and then there's that beach.  That would be the huge body of water that I rarely ever see unless I make a special trip to get sand between my toes or to document the retail anomaly that the forecasters try to convince the rest of the world is a hurricane.

Read also:  My Version of Tropical Storm Fay in Bonita Springs, Florida

Yesterday afternoon at 4:00 p.m. I went to Bonita Beach.  I figured the hazard of sunburn and scorched flesh was less of a probability at that time of the day. Plus, the day was almost over so I could kick back.  I'm not sure my phone has ever rang so much.  I should have turned it off and left it in the car.

I got about an hour in before the rain started drifting in.  On my way out I noticed the sea grapes.  There were even some that looked ripe.  I wondered if you could eat them.  I even googled for sea grape recipes but never found one with a picture so I don't know if what they're talking about is what I'm talking about.  It's not worth it for me to be a guinea pig.  Someone else will have to take one for the team.

What I do know about sea grapes is that the sea grape leaf was used as writing paper by explorers and early settlers.  They even use to let tourists send them as post cards until the '70's.  I've never tried it but it makes sense.  The leaves are very strong and thick.  When they're dry I bet they're stronger than balsa wood.

So enjoy your Thursday sea grape leaf photos.  If you know of anyone that eats them and can guarantee my throat won't swell shut or something if I try one, let me know.  I mean, if you could actually eat them, wouldn't they be selling them at the roadside fruit stands and farmers markets?

Short Sales Closed vs. Regular Closings

Here's a little bit of information to put the entire Bonita Springs real estate market into perspective and how short sales are being listed, written up under contract and closed sale. Short sales are a pain in the rump and only a slim margin of them actually close vs. the amount that are listed and written under contract to sell and close. The problem is the banks. The banks just aren't getting the job done.

Short sales are NOT limited to Estero or Bonita Springs communities. You will find short sales in Naples, Fort Myers, Cape Coral, Miami, Atlanta, Las Vegas, you name it. If you have a problem reading about the Bonita Springs real estate market on this website, first take a good hard look at the URL and then if you still have issues I invite you to click the little red X in the top right corner.  Sayonara.

First and foremost, in our market "Pending Sale" means under contract and "Active with Contingency" means under contract but there is a contingency that isn't satisfied, financing, sale of other home, home inspection, etc.

As of today, August 30, 2008 per Sunshine MLS, in the Bonita Springs and Estero market area there are:

128 Pending Sales and 87 Active with contingency sales.

Of the pending sales and active with contingency sales above:

4 of the "pending sales" are short sales, 34 of the "active with contingency sales" are short sales.

This means that .03% of pending sales are short sales and 39% of active with contingency sales are short sales. This doesn't mean any have closed sale, they're still in limbo.

Out of curiosity I checked to see the closed sales for the month of August ‘08 to see what had closed short sale vs. typical closing. In the month of August only three (3) short sales in Bonita Springs and Estero were actually closed sales vs. twenty-two (22) properties closings that were not short sales.

Less than 14% of successful closings were short sales in August of ‘08.

For giggles I checked closings for the month of July '08 also:

In the month of July only Five (5) short sales in Bonita Springs and Estero were actually closed sales vs. twenty (20) properties closings that were not short sales.

Only 25% of successful closings were short sales in July of ‘08.

Do with that information what you may. If you're in the market to pick up a short sale or you're under contract to buy a short sale, cross your fingers and do every voodoo dance and every lucky rabbit foot or lucky penny trick you know. The odds may not be in your favor that it will get closed.

I'd like to be able to accurately share the active listings and the ratio of regular vs. short sale listings but since the data gathering is somewhat new and some of the listings have been on the market for a long time, I'm sure the data is not accurate. The option of "short sale" just wasn't available for some of the homes that were listed a while back. Here is the data, though it may not be thorough:

Active listings of all styles of property in Bonita Springsand Estero (Including Short & Foreclosure: 3,013

Active Short Sale Listings: 242

Active Foreclosure Listings: 16

There you have it. Don't kill the messenger she has an old dog to take care of.

Bonita Beach Surfers Living Dangerously

As you can see, there is no danger.  Sunday morning I ran to Bonita Beach to see if the surf was sucked out because of Hurricane Gustov in the Gulf.  I was hoping to see it rough and blowing but no dice.  There were surfers that thought the same the that I did.  Someone should have brought a deck of cards because there wasn't much happening.  I've seen bigger waves on a random Tuesday in January.

At any rate, there were a few die hards that showed up and gave it their best.  A fella on a long board had the best success surfing Bonita Beach.  A couple of young men told me to go to the north end of Bonita Beach by the rocks this afternoon and evening if I wanted to see some waves and see the big boys surf.  I just might take them up on that.  This will be a first....first a Bonita Springs surf report, then a morning AND an evening surf report.

There is public parking at that end of the beach if you want to see Bonita Beach surfers in action.  It's right across from Solenzara, the old site of the Rooftop Restaurant for you old timers.  A few more pictures of the Bonita Beach surfers:

Above you'll see the long streak clouds which are part of Hurricane Gustov's rain bands.

I swear this guy kept doing "The Crane" from Karate Kid.

The birds were indifferent to the surfers.

They gave it a go, but had short boards and, well, there are a million jokes I can do here.

Waiting for a wave....something?  Anything?  Hurricane, my foot!

He grabbed one!

The end.  Until later this afternoon at the north end of Bonita Beach by the rocks.  I'll be the one with opalescent skin and a digital camera.

Much like the last few months reports, we’ve picked a few more months of inventory from the pile.It’s important that you know, as a consumer, that Bonita Springs real estate is selling and that the inventory is getting absorbed.No smoke no mirrors – this data was taken from the Sunshine MLS system on Aug 29, 2008.Every month we’ve soaked up a little bit of housing surplus and even though everyone has the economic woes and gloom and doom on the mind things are getting better.

So here you have it in black and white (you know those little things call facts) the current inventory levels in a few sectors of Bonita Springs and Estero housing and the estimated absorption rate of each of those sectors.

If you’d like to calculate the absorption rate of your community use this post to get started: So, What Is The Absorption Rate For Your Bonita Springs Home?

When I do my real estate market reports I give the units for the month for each of the last three years, that way you can see what happened in history and if there was improvement.For you “number types” you’ll also find links to the prior months reports at the end of the report. Current Inventory Units Per Structure Type:

Absorption Rate:

First Time Home Buyer’s in Bonita Springs, Florida

If you're considering buying your first Bonita Springs home and you've heard about the First Time Home Buyer’s Tax Credit, here's the scoop on it.  Keep in mind that it doesn't have to really be your very first home, just some time in between owning homes.  Also, it's just not $7,500 with a sparkly bow on top.  The government wants it back eventually.  It's sort of an interest free loan.

First time home buyers get a tax credit up to $7,500 for buying a main home after April 8, 2008 and before July 1, 2009.  To be eligible, purchasers must not have owned a principal residence in the U.S.  in the previous three years. The credit phases out between $150,000 and $170,000 of AGI for married couples and $75,000 to $95,000 for single filers. It is refundable to the extent it exceeds the buyer’s regular tax liability, but does not offset the AMT. Home buyers in 2009 can elect to take the credit on their 2008 income tax returns.

But the credit is recaptured ratably over 15 years, without any interest, starting two years after the year the credit is claimed. Thus a first-time home buyer who claims a $7,500 tax credit for a purchase in 2008 must pay an extra $500 of income tax in 2010 and in later years. If the homeowner sells the residence before the credit is fully repaid, the seller is taxed that year on the lesser of the gain from the sale (if sold to an unrelated party) or the un-recaptured balance of the credit.

It wouldn't hurt to speak to a C.P.A. before you make your decision.

Stuff a Big Check To The Red Cross in There!

This week I cut down Pennsylvania Avenue in Bonita Springs to get to Dolly's on Bonita Beach Road.  I call the area, as do many others, the State Streets because they're all, uh, named after states.  I was driving down Michigan which connects Pennsylvania to Bonita Beach and passes this mailbox up and went back for a photo.  It was a shame I didn't have my camera.  99.9% of the time I have it and darned if I didn't this time.  I took a blurry picture with my Treo and headed back bright and early the next morning to get another photo with the purple glory's open.

Turns out the homeowner was on his porch smokin' a marlboro and just thought I was plain weird for photographing his mailbox.  His mailbox is in a chair, and he's judging me?  Alrighty, then.  What I found funny was later that day I took the same shortcut down Michigan.  I wanted to see if the flood water had receded.  I found the mailbox was on a post.  I think I embarassed the man into putting his mailbox on a post!  My civic duty is done.

By the looks of this sunny, flowery picture you'd never know there was a flood in Bonita Springs. Just a half mile away homes were in four feet of water.

At any rate, I'll have you know that the water is still high and there is a need for help at the Estero Community Center.  There are currently 481, I'll say it slow so you grasp it:  That is FOUR HUNDRED - EIGHTY ONE people who are in the shelter that could use some help, desperately.  There are a few ways you can help.  If you're looking for things to do this weekend grab an idea from this list:

1. Make out a check to the Red Cross and note on it "Bonita Springs Flood Victims". The Red Cross provides medical, as well as mental help to the people who are overwhelmed by their circumstances.
   
2. Purchase and deliver undergarments of any size for all ages to the Community Center or Salvation Army.  If money is tight, buy a 3 pack of kids jockey's or panties and drop them by.  The kids don't deserve to suffer - spare five bucks.
   
3. Drop off a box of diapers or baby formula for the infants and toddlers.
   
4. Mens work boots are needed, as well as, mens denim jeans in smaller sizes. Many of the folks who are at the mercy of the flood water are without clothing and even work boots to support their families.
5. Go to the center and volunteer to help the Red Cross serve those in the shelters.  They are providing meals for nearly 500 people, three times per day and can use your helping hands.
   

Thank you, on behalf of the displaced families, for any little thing you can do to help.

First Time Home Buyers

The excitement of first time home buyers is enviable and amazing to watch. Most real estate agents have the opportunity to show and sell real estate to buyers who are looking for a vacation home, a second home or a permanent home in Bonita Springs, Florida. For seasoned buyers, the permanent home in the majority of cases is a home in a long list of addresses they’ve lived in. It could have been decades since they’d purchased their first dream home and labor of love. Often times the excitement of buying a new home has worn off.

I’ve tried to remember my first purchase but struggle with the dramatic details and ups and downs that went with it. It was twenty plus years ago. It was a home I had built in Bonita Springs, Florida on a lot that only cost $6,000. The only other mental note I have permanently etched in my mind was the paint color I picked on accident. It was a classic first time painter mistake. What looked peach on the sample turned out to be jack-o-lantern orange both inside and out. It was a tragedy, especially for the neighbors.

Paint isn’t usually the biggest issue that first time buyers encounter. First and foremost are establishing and maintaining decent credit and saving up for the down payment. In an ideal world a person pays their bills on time, maintains a savings in the bank and keeps their debt to income ratios at a decent level. When the buyers are able to tame their finances they’re then ready to set out on a home hunt.

The home hunt for a good many first time buyers is based on what they’re qualified to purchase. There are set loan limits that the buyer will be able to borrow based on their credit and down payment, plus a few other factors. In most cases in Southwest Florida a buyer may qualify for a loan limit but still have difficulty finding a home within that budget. With the recent shift in the real estate market in the Bonita Springs and Estero, Florida area there are more choices available than there have been for quite some time.

Even with more great choices for first time buyers there are some opportunities that are just going to be a labor of love. There are homes that barely limbo under the “affordability pole” and occasionally some of them need work. A buyer without a back bone and imagination would be scared off, unless they’re ready to get their hands dirty and can see the big picture.

Recently, I had an opportunity to watch buyers score their very first home in Old Bonita Springs. They were cheered through the process by their entire family and friends, as well as, a team of real estate and mortgage professionals. The home needed work and lots of it. Most of it was cosmetic but it still would a few weeks, maybe even months of man hours in sweat equity and favors asked of friends. They’d need a few thousands of dollars in supplies, too.

Did you know there are still homes themed in the color avocado complete with avocado colored appliances and bathroom fixtures? It had been a spell since I’d seen one. There’s something special about vintage avocado appliances that brings out the “oh my” factor in any person. The “blast from the past” surprise can only be topped by matching avocado walls. All of these lovely items usually come with sculpted, harvest gold or orange carpet. The entire collection was a perfect ensemble, for someone in the Brady Bunch era.

There are first time home buyers with enough drive and vision to see past the expired appeal of avocado and how a paint roller can perform miracles on walls. They know the carpet can be replaced. They’ll even see past the faux wood Formica kitchen cabinets and half heartedly decide to go with a “Waffle House” theme to match it until they can afford to reface the cabinets. Maybe the avocado tile will remain in the shower because the color is back in style or close enough to being back in style to temporarily stay it from the wrecking ball.

The thrill and passion of how someone shows off their new home, warts and all, with the joy of it’s potential when its “done” is just the best. You’d have to be standing there watching someone grinning from ear to ear point to the prehistoric draperies they’re going to take down. All the while they’re joking that they’re thinking of donating them to the Smithsonian. They no longer pay attention to the 20 years of nicotine stench built up in that avocado paint.

Sure, not all first purchase homes need over hauled. For a slim few buyers they’ll find the home that fits their dreams and it may not be in tip top shape. Maybe the dream isn’t the house as much as the lifestyle it will provide them. They can have their boat on a trailer in the driveway and the back yard is already fenced for their kids and for that they’re willing to look past any dated style or elbow grease needed. They can turn the house into a home over the next few months with a little hard work.

The potential of what a home can become is already a snapshot of an Architectural Digest home in the mind of some buyers. They’ll power through the hiccups and glitches of the do it yourself project and the little mistakes they’re bound to make and in the end turn their frog into a prince.

If anyone could find a way to bottle that kind of hope, pride, enthusiasm and optimism the world would beat a path to their door.

Bonita Springs Homes Water Damaged From Flooding

I took this picture today, Wednesday, August 27, 2008. Water is still standing and there is so much damage. I believe this was Pawley Street off of Imperial Extension. Several streets are still under water between Imperial and I - 75. You might want to contact your church or the Bonita Assistance office to lend a hand to some of the folks that have been displaced from their homes.

If you can spare a dollar to help, there are two ways to make sure your financial donation goes to help victims in Bonita Springs:

1. Write a check to: Lee County Red Cross and designate it to “Bonita Flood Victims”

OR

2. Give money to the St. Leo's Emergency Flood Fund at any Bank of America.