Naples Bonita Springs Estero Florida

NABOR, the Naples Area Board of Realtors, has recently published the market statistics for Collier County. The news is generally good! The market is improving in that unit sales - single-family homes and condominiums - will have a big increase in March 2008.

The overall February sales numbers (closings) are down year-over-year and that is reflective of the sluggish activity over the previous one to two months. However, the all important pending home sales number is up year-over-year. In fact, its' up more than 10.5%. We would expect to see, therefore, closed sales in March to be near the 480 mark and that would also be a 10% increase year-over-year.

This will be a large step-function increase from February 2008 closed sales. It is not unexpected due to the seasonality of the market in southwest Florida. Further, it continues a steady upward trend in unit sales that begun in November of 2007.

You may download the complete report from the Naples Community Page on my Web Site. Scroll to the bottom of the page for the report link.

Bob Pisa, Realtor
www.BobPisa.com
239.898.6865

In Florida property ownership whether single family standalone homes or multi-unit villas and condos will usually come with a required membership in an association or even multiple associations. In the least, the property is likely to be in a deed restricted community.

While showing property recently, I discovered that everyone is not clear about all these different associations and the fees associated with them. Deed restircted areas are somewhat of a mystery also. I put together a one page primer on these subjects that is available here on my website in the "Resources" section. I hope that you find this information useful.

Next, will be a discussion about clubs, clubs fees, manadatory fees, and bundled golf versus not. This is another areas of uncertainty.

In the meanwhile, if you have any questions please give me a call.

Bob Pisa, REALTOR
Naples, Bonita Springs, Estero, Florida
239.898.6865
www.BobPisa.com

...some "good" real estate news in the press. By good, in this case, I mean any article that is not all doom and gloom and indicates that there is light at the end of the tunnel just maybe we're beginning to see it now. At least in southwest Florida - Naples, Bonita Springs, Estero, Fort Myers, and Cape Coral...

Two articles, one on the front page of the News-Press Local 7 State section with headlines above the fold and the other in the Bonita Daily News on the front page also above the fold tell essentially the same story.

The story...there is a lot more activity in the real estate market since the 1st of the year with February and March being particularly busy. I can attest to this based on my own experience as a Realtor. Somewhat unique for southwest Florida is 1) it is the season that we have the most visitors from the north, 2) the weather in the north has been, well, pretty bad, 3) the word is spreading that there are very good bargains to be had. The market below $300,000 is perhaps the busiest or the segment with the most interest. This is likely for two reasons: 1) for those looking for a second seasonal home it's now affordable and you can buy at lot with $300,000 and less and, 2) it's will be a stepping stone and gets you into the market so when values rise in a couple fo years and you want something different you will have benefited with your purchase today.

There is even some impulse buying going on with an example the Bonita Daily News. Impulse buying! We haven't heard that in a long while.

I can tell, also, because my website has been lighting up all week and folks are sending me e-mail with their phone numbers. Many of the numbers are "up north" and when I call find them here in SW FL driving around looking at properties.

Most importantly though, the activity is translating into contracts and new pending homes sales. The numbers are up, and that's the fact.

At this point, we still have a strong inventory and prices are still low. But, the buyers are here...

If you are interested in pre-foreclosures and short sales please click here and following the red button.

Bob Pisa, Realtor
www.BobPisa.com
239 898.6865

With the winter season in southwest Florida and the buyer's market, we are seeing a lot of activity. Many folks from "up north" who have been thinking about properties for awhile now are getting serious as this just may be the right time. This is particularly true when they were priced out of the second home of their dreams in the recent past.

The folks that I have been working with, while not driven exclusively by short sale bargain hunting, always ask the question. What is available in a short sale or bank owned. Just because a property is advertised as a short sale it doesn't necessarily mean it's going to be a "steal". I have seen banks not backing off "market value" in a short sale and let properties fall through to foreclosure. Why would the bank settle for less than market value? Less than market value is sometimes accepted when the bank figure in the cost of foreclosing, holding, and carrying the property while it's bank owned so it's more expeditious to just get it off the books. Would be buyers of short sale properties must be prepared to deal with delays and other issues. Please consult a Realtor for assistance.

In as much as I have been asked several times what's listed as short sales, I have compiled those listings broken down as indicated in the following chart.

Go to my web site and click on "Short Sale & Pre-foreclosure" where the links will be active.

Bob Pisa
www.BobPisa.com
239 898.6865