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Free and low cost activities on Marco Island
- Tuesday, June 23, 2009
One of the best things about living on Marco Island is all the options we have for activities which are free or have a very low cost. Here are just a few to consider:
1.) Sunbathing at the beach
2.) Hiking on a trail in the Everglades
3.) Riding your bike
4.) Fishing
5.) Swimming in the Gulf of Mexico
6.) Watching a magnificant sunrise or sunset
7.) Shelling on the beach
8.) Walking along the beach
9.) A picnic by the water
10.) Exploring the natural beauty of Florida by car or bike
11.) Hanging out at the pool
12.) Jogging on the beach
13.) Playing catch (football or baseball)
14.) Beach Volleyball
15.) Playing cards by the water
This is just a few of the many examples of low cost activities you can enjoy in this wonderful area. Do you have some great examples of activities I missed? Feel free to add to the list.Labels: Activities, Entertainment, Fun, Low Cost
Most Frequent Seller Question I'm Asked
- Saturday, June 20, 2009
"When will my home's value return to what it was?
This is a common question I hear from my customers, potential customers, friends and family. Next they tell me how much it was worth (pick the highest point value from late 2005 through early 2007) and how they hope for a return to the former value. No doubt the financial crisis has been tough on everyone. To see a decline in the stock market and real estate values is difficult for us all.
When asked this question I encourage the person asking it to think about their situation in these terms. Do they know what the market value of their property is today? Many do not and assume the worst based upon what the read or hear. At this point it is helpful for these folks to meet with a Realtor and get a good understanding of what the market value of their home really is. Get the facts from a professional about what comparable homes in their area are currently selling for.
Then it's important to help them assess their motivation behind the question. Is there a clear need to sell due to a financial situation? Have their housing requirements changed? Is it a desire to get something new? Often they are simply curious or concerned, but there is no need for any action at all.
Helping them get the facts and then get to the heart of the matter can really save them some stress. Once they understand their existing situation and develop an action plan (if necessary) they regain some sense of control and feel better. They shift their thinking about where the market was, to a focus on navigating in the market as it exists today. They begin plotting the best course for themselves moving forward.
When the question is framed in this fashion most people do feel better that some of the uncertainity is removed and they have a plan to move forward that is best suited for them.Labels: home prices, real estate, sellers
Marco Island Hot Spot!
- Sunday, June 14, 2009
One of the hottest selling properties on Marco Island this season has been the Monterrey building in Cape Marco. Over 40% of the 2009 active listings in this building have already sold. This beautiful building with excellent views of the Gulf of Mexico has terrific amenities.
Buyers are really taking note. Through June 12th over $5 million in real estate has sold in this building alone! The number of transactions and total dollars sold are both up over 20% compared to the full year 2008 performance. The median sale price through June 12, 2009 ($846,625) is up +5% versus the full year median sales price for 2008. The average sales price for the same time period is ahead of last years as well.
There is a limited number of the highly coveted southern and southeastern views still available on the market. See for yourself why this property is doing so well. Contact me today at 239-394-4871 or via email at Mikemjo331@aol.com .Labels: Marco Island, Monterrey, Naples, real estate
Getting a great deal on Marco Island
- Thursday, June 11, 2009
Many customers contact me asking for a great deal. They begin by asking "what do you have on foreclosures (aka bank owned and REO's) and short sales?". They are looking for properties which are priced 30% to 50% below a couple of years ago. Their questions are driven by all the articles they have read and conversations regarding the high levels of distressed properties being sold.
My answer begins with helping them understand the differences between foreclosures and short sales. Next I always stress the importance of hiring a good real estate attorney to protect their interests in a real estate transaction. Then I help them understand what's happening in this market so that they can better understand how we can identify a property priced at a very good value. This often includes foreclosures, short sales and properties which are not listed as distressed. Many very good values are frequently found in the non-distressed segment in this market.
To give you a better understanding of our market conditions on Marco Island, here are some key points based upon information from the Marco Island Multi Listing Service. During May 2009 there were 1,380 active residential listings for sale. Of these listings 92% are typical sales, meaning they are not identified as potential short sales or bank owned foreclosures. So as you can see the vast majority of active residential listings on Marco Island are not distressed properties.
Now if we examine the time period from January 1 through May 28, 2009 for single family homes using the Marco Island Multi Listing Service data, we can get a picture of how distressed properties have impacted closed sales in this market. There were 109 closed home sales during this period, of which 77%(84) were non-distressed sales. Foreclosures represented 14%(15) of these sales and the balance of 9%(10) were short sales. You should note this breakout is different than what is often communicated for national trends. This really illustrates the point that real estate is truely a local business.
The main point I'd like to share is that many buyers are finding terrific value in non-distressed properties. As a serious buyer one should give consideration to that important segment of the market as well. Particularily if you are interested in Marco Island.Labels: foreclosures, great deals, Marco Island, real estate, short sales
A Stronger Path Forward
- Wednesday, June 10, 2009
There is a good amount of discussion regarding increasing taxes and/or cutting services these day's. I have read several articles about how this area is trying to attract more tourists as a means to drive more business revenue. Additionally we are trying to diversify our business and economic foundation by attracting new industries. These are definitely positive initiatives and we should continue to work hard to bring this change about. Yet we do face some significant challenges and people are concerned about the economy.
When it comes to Marco Island and Collier County, I believe we have some incredible assets to help us meet these challenges and emerge a stronger and more vibrant community.
Our state and local area is among the top locations for second home purchases. About half of the vacant housing stock is used seasonally or occasionally for recreational purposes.
Did you know that Florida received the highest annualized net migration in the country between 1995 and 2008? The natural beauty, incredible location right on the Gulf of Mexico and fantastic climate remain a magnet for people to move here.
My thought is that we need to take three short term and three longer term actions to move our local economy forward.
The short term actions are:
1.) Support and maintain our existing base of permanent residents. An example of this is to develop and implement a VIPR card, with which local residents can save 10% on all purchases for all participating businesses. Imagine going into your Collier County Publix or Winn Dixie and saving 10% because you are a year round resident.
2.) Build our base of permanent residents. An example of this would be for Collier County to offer a financial incentive (such as Homestead plus) for part time residents to become permanent full time residents.
3.) Continue our efforts to attract more guests. In addition to current promotional efforts to attract tourists, a new idea would be to offer tourists staying in Collier County, a financial incentive to stay one more night. This would result in a significant financial/revenue benefit on guests who have already decided to come here.
With regards to the longer term, my recommendation would be to focus on the following:
1.) Allow non-US citizens to live here year round if they own property and/or a business in Collier County. Establish a test program with the Federal Government to measure the positive impact upon the community.
2.) Develop incentives for environmentally friendly cost saving initiatives. We already have some good examples by local hotels, lets build upon those efforts and share the success stories (including the financial benefits gained).
3.) Attract more diversified industry to our economy. Some excellent work has been started by the Collier County Economic Development Council, we must encourage and accelerate this.
We can make this great community even better. The time to start is now!Labels: Collier County, Economy, Marco Island, Naples, Services, Taxes
Marco and Naples Visitor Information
- Sunday, June 7, 2009
If you are considering a trip to Marco Island, Naples or the Everglades, I would encourage you to visit www.paradisecoast.com . This is the official visitors information site for Naples, Marco Island and the Everglades.
This site provides you with helpful area information, savings and activities. It's a good resource for someone considering or planning a trip to Southwest Florida.Labels: Marco Island, Naples, Travel, vacation, Visitors
Bargain Time
- Thursday, June 4, 2009
The summer months present an excellent time to purchase property on Marco Island. Contrary to popular belief property sells year round on Marco, not just in season. The highest number of monthly closings in 2008 occurred during April, May and June according to the MLS reports. But you will find closings during all months of the year.
According to the National Association of Realtors repeat buyers have boosted sales during April. Some of these buyers are trading up and the rest are bargain driven investors. The attractive interest rates combined with declining inventory in many markets, have resulted in positive sales trends for the month of April.
The summer months are an excellent time to look for great real estate values on Marco Island. Buyers who appreciate the high quality of life and great location use this time to search for good bargains. The warm sunny days present the perfect opportunity to find a great property in the morning and then enjoy some golf or fishing during the afternoons.
Marco Island a year round destination
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Now is the time to communicate the year round benefits that Marco Island has to offer. We realize significant increases in visitors during the traditional season of January through April. Yet the months of May through December offer incredible benefits as well.
From great fishing, a very relaxed easy going lifestyle (even more so than in season) and a fantastic climate, visitors can enjoy Marco Island the entire year. Yet the common perception is that coming here during the "season" is the only time to be here. I believe many visitors are missing out on an amazing experience and the local economy on a terrific opportunity.
It's time to change our thinking and make Marco Island a year round destination!Labels: Marco Island, real estate, tourism, Visitors
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