Know Your Numbers When Buying in Bonita Springs
Published Fall 2018 - Once upon a rainbow I had condo buyers who kept rumbling around looking for a winter getaway in Worthington. From time to time they’d send me out to preview a condo and toy with writing an offer. One of the condos for sale in Worthington was a pretty unit and my buyers weren’t prepared to write an offer. The listing agent called me to let me know that the sellers were anxious to sell and would only sell it furnished if the the price was firm.
It just so happens that I am a numbers and data person. For a gated community with about eight hundred units in it for sale there were about fifteen units for sale. That’s not a huge amount but it doesn’t tell you the rate of sale or what the actual inventory is.
Whether it’s Highland Woods, Bonita National, Vasari or Worthington there are ways to figure out how much inventory there is and how long it could potentially take to sell a home or condo in Bonita Springs. The long story short for my buyers looking for a condo in a bundled golf community was that there was 26.6 months of inventory in the style of building they were searching in.
If you’re a buyer it means you can shop a little harder. Pick two or three units and make your offers accordingly. You stand to score the best financial deal or you can negotiate for a superb unit by helping the seller understand how much inventory there is on the real estate market around their condo. Trust me 99% of the time their agent doesn’t know how to calculate inventory. We do. We don’t present offers until we make sure that we don’t leave any meat on the bone, so to speak.
If you’re a seller and you’re gunning to close sale on your condo you need to know this inventory so you can price your condo correctly. If there is 26 months of inventory and your agent estimated a list price of $275,000-$300,000 what number do you think you should be at to guarantee you won’t be holding that condo when shutters start closing up the day after Easter?
The owners of the condo in Worthington have no idea that there is over two years of inventory. They’re still holding the condo and only one other property has pended sale in the last 30 days.
Do you see how it works in your favor for your real estate agent to understand absorption and inventory? We sure do. Let us help you find a great deal this winter. We’ve available daily, after hours, weekends at 239-273-7430.