Naples Bonita Springs Estero Florida

Mediterra is one of north Naples finest addresses. Bonita Bay Group adds incentives for new buyers in Mediterra in addition to Twin Eagles (see previous post).

This non-resident plan, becomes effective on November 1, 2008 and will continue through the end of April 2009 for new home contracts executed during this time period:

For the first 20 buyers of any new Homesite, Spec or Model Purchase a $100,000 credit towards a Golf Membership and Master Association dues paid through 2010. A CO must be in place prior to April 30, 2009.

For the first 10 buyers of any new Villa Purchase a $100,000 credit towards a Golf Membership and Master Association dues paid through 2010.

For new Coach Home Purchases, a $40,000 credit towards a Sports Membership and Master Association dues paid for the first year of end user ownership.

For more details homes for sale listings, go to www.BobPisa.com and contact me.

The buyer's market continues to bring out great deals. Bonita Bay group, developer of Twin Eagles, is offering incentives to new home buyers. The incentives are limited time and limited quantity.

Developer-paid Master HOA fees and a Complimentary, non-refundable, lifetime Membership at The Club at TwinEagles will be awarded to:

1. The first 5 Pulte Coach Home Buyers
2. The first 15 Centex Villa Buyers
3. The first 10 Custom Single Family homesite/model/spec Buyers. 

Bonita Bay and Twin Eagles don't stand alone from this perspective. Most all developers are offering great incentives.

Check out Twin Eagles...Twin Eagles is golfers paradise. Home to the Ace Classic two years running.

Where do you want your Naples area southwest Florida home to be? Visit www.BobPisa.com

This is hot off the press from Florida Association of REALTORS - FAR.

Here is the opening paragraph just sent out by FAR...

ORLANDO, Fla., Oct. 24, 2008 - For the first time in almost three years, Florida's existing home sales rose in September, noting a 24 percent increase in activity in the year-to-year comparison; last month's sales of existing condos statewide increased 11 percent in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR).

The story goes on to note the nationwide numbers just released by the National Association of REALTORS - NAR - are up too and from the NAR report posted on MSNBC NAR says...

The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.  It was the first year-over-year sales increase in since November 2005.

The FAR and NAR reports go on to note that the median price of homes have decreased. I think it's part of the supply and demand formula, right? Prices go down, down, and volume begins to increase.

I can attest to these statistics in an anecdotal fashion... since the beginning of September I have worked with more clients daily, weekly, monthly than I have over one year ago. And, these people are buying noted by offers written and contracts accepted for all types of properties - condos and single-family homes, new and resale properties.

How can this be with the doom-and-gloom in the economic sector? With prices now near or at the bottom and the continual decline in traditional instruments, reak estate is looking good.

www.BobPisa.com

This past summer I had a client call me from out of state that was interested in purchasing a Florida property but insisted it be a good buy. We scoured short sales and made several offers sight-unseen. This was the first experience for me doing this. In the end, he was successful and we bought a great place that he and his wife will enjoy.

This weekend, it happened again! Another client called from out of state and wanted to place an offer on a short sale on Marco Island. Contract is written, check on the way, and a few more details to work through.

Next, while driving with clients a Realtor called me from Texas with a customer wanting to purchase 2000 square feet in Palmira Golf & Country Club. The customer now has a contract to purchase, with another realtor though...it's beginning to fell like a race to the finish all of a sudden.

Then, low and behold, on last night's news there was a piece about folks gobbling up canal properties on Cape Coral in much the same manner. The first client I mentioned above placed his first offer on a Cape Coral Canal home.

As you can tell, I'm helping out-of-state customers from Marco Island to Cape Coral. Actually, we ended up with a home purchase in Punta Gorda, the furthest south point, albeit, in Burnt Store Marina.

Housing crisis? The southwest Florida, Naples market certainly has the same issues as everywhere else but, we have a very strong component of second home buyers now believing that this is the right time looking 3, 5, 10 years down the road.

If you are thinking about this too, maybe I can help... www.BobPisa.com

What was said? Paraphrased - '...it's a good time to buy a home...some people have realized that prices have come down...'  

Of course the piece was presented with the caveat 'if you can afford to buy one'. Well, clearly that's the case. The media has been hammering day-in and day-out about the mortgage crisis / housing market debacle and the perfect storm that precipitated it but this post isn't about that. It is about the current real estate market, the value that exist for buyers, and that the national media has "validated" the buyer's market. It just may be the time to buy, so they say.

It's a good time to buy a home! Must this statement be followed by 'if you can afford it'? Hopefully not, isn't this true for any purchase - a car, a TV, a refrigerator?

Right now I'm helping a family move up from a rental home to a beautiful 3 bedroom home with swimming pool, spa, 2 car garage...etc. for a price that is below what the owner's paid for it in 2003! 2003 was not part of the "crazy days" of inflated prices. It is a great buy and it not a short sale nor is it a foreclosed property. What more could anyone want? OK, they're getting a mortgage to boot!

Additionally, my website which is usually pretty active, has been off the charts for the past few weeks. Mostly with people that been visiting the area for years and want to buy a piece of southwest Florida sunshine but have not been able to in the recent past. They realize that now is the time to buy, if ever, that seasonal or vacation home. Many of the inquries are from people thinking a little further out in time and they are looking to buy their retirement home now to use now and 5 - 10 years later after retirement.

It's a good time to buy a home...Naples, Bonita Springs, Estero, Fort Myers.

Lastly, the national NBC-TV news highlighted southwest Florida as one area with the best buys and stepped up activity.

www.BobPisa.com

A few posts back I wrote this:

If you are in the position of selling your home you must evaluate your situation. If you just want to sell but don't need to sell you should be resigned to the fact that your home will sell but for less than you thought, maybe even much less than you thought. Depending on when your "buy side" was, you may lose money, break even, and there are still those who can and do profit. If you don't buy into this reality then maybe it's time to take a break and get out of the market for a while.

I'm working on a sale right now that proves the point. Property was puchased in 2003 for $450,000. The owner transfered out of the area, home was on the market for nearly a year, and it was initially listed in 2007 for $675,000. The owners wanted to sell, they didn't need to sell. We negotiated a price below their purchase price. They will take a substantial loss.

In the same post I also wrote this: 

If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.

Along the selling timeline the price was steadily reduced chasing the market down. There were some offers along they way that were not accepted. If this property hit the market at $575,000 initially I suspect it would have been sold long ago and at a higher price likely for a profit less months of carrying expense.

If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.

Based the closed sale data from 1/1/2008 through 9/30/2008 for single-family and detached-villas homes as recorded in Sunshine MLS for Realtor assisted sales.

If you thinking about buying or selling a home in Naples, Bonita Springs, or Estero get the data and get the facts on the local market. The local market is within the community and the neighborhood in the community. Request a Personalized Market Report for the area you are interested in.

Based the closed sale data from 1/1/2008 through 9/30/2008 for single-family and detached-villas homes recorded in Sunshine MLS for Realtor assissted sales excluding Golden Gate City and Golden Gates Estates.

Lely, Ole, and other communities active in new developer sales will be understated.

If you thinking about buying or selling a home in Naples, Bonita Springs, or Estero get the data and get the facts on the local market. The local market is within the community and the neighborhood in the community. Request a Personalized Market Report for the area you are interested in.

It's the 1st of the month (or maybe a bit beyond) and I have posted on www.BobPisa.com a reports that shows the charts for 12-month running average selling prices and unit volume sales. The data is broken down by area - Naples and Bonita Springs / Estero Florida. It is also broken down by single-family home and condominium. Here are the single-family pending home sales trends, the leading market indicator...

Bonita Springs / Estero on the left, Naples (rocket ship) on the right.
Data provided by Sunshine MLS

Bonita / Estero have leveled off over the past few months although the trend is still positive. The average number of homes sold for the past 12 months is 57 so a saw tooth trendline is not unexpected. There seems to be no stopping Naples though...look at that trend line! You may click on each image to go directly to the report page on my web site.

...and, Cash is King. One man's view.

I was giving this some thought while driving to the office today. How does the current state of our economic affairs affect the real estate market and those in the market? I define "those in the market" as people who earn their living providing professional real estate services and those looking to buy and/or sell real estate. We are all "in the market."

The effects are different for everyone depending on how and why you are in the market. For those of us earning a living providing real estate services, much like any other professional or journeyman during down business cycles, we must work harder to earn new customers and perform above expectations to please and earn referrals. Our income is suffering too.

Cash is king. For those looking to buy their first home or to upgrade to a larger home you will need a larger down payment, verifiable income, and a good credit score. That means if you have managed to save some money for this purpose you will be in good shape but perhaps purchasing a little less house. If you don't have the 20% (perhaps 10%) down payment, then saving for it is the only rational solution. Money is avaiable under these conditions - strong down payment, verifiable income, and good credit score. The following applies to this group also.

I've heard the following attributed to Warren Buffet - Sell when everyone is buying and buy when everyone is selling.

Cash is king. If you are an investor or looking for a second home and have sufficient cash on hand Warren Buffet says it all. Most investors know that profits are made on the "buy side" of the transaction. In other words, buy at the right price and in the long run you will be rewarded.

If you are in the position of selling your home you must evaluate your situation. If you just want to sell but don't need to sell you should be resigned to the fact that your home will sell but for less than you thought, maybe even much less than you thought. Depending on when your "buy side" was, you may lose money, break even, and there are still those who can and do profit. If you don't buy into this reality then maybe it's time to take a break and get out of the market for a while.

If your time horizon with regard to a purchase is at least 3 years (5 is better) then real estate is tried and true to perform over time. I know Donald Trump believes in it.

If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.

The subject of Short Sales and Foreclosures is a whole other topic...

Now the advertising plug...if you believe in buying real estate in times like these the most important thing to consider is where? The best suggestion is to buy where people want to be, buy where there will be growth, and buy where the lifestyle you most desire is provided whether it's a permanent residence, seasonal residence, or just a vacation home - southwest Florida, of course! Naples, Bonita Springs, Estero.

www.BobPisa.com