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Golf, tennis and more!
- Sunday, July 10, 2011
I enjoy doing a good amount of business and playing some golf at Lely Resort. It's one of the best area's for new construction in Naples Florida. During a recent event held by Stock Development, they shared that their sales had increased 30% in 2011 compared to 2010. Interestingly we also learned that their average selling price had increased 29% and this was driven by a significant increase in the ratio of single family homes sold relative to multi-family properties. This is one very hot community!
Lely Resort is a terrific community which offers a wide variety of properties and prices to consider. If you are interested in learning more about this area, please contact me. I would be happy to show you around and introduce you to this fantastic place.Labels: Golf, Lely Resort, Naples, Naples Real Estate, real estate, Stock Development, tennis
Window of Opportunity
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Now is a very exciting time on Marco Island. We've just finished the first half of the year and a very successful season. Many local businesses have told me that they are experiencing a better year than 2010. It seems activity on the island is higher this summer than last. Summer time visitors are enjoying this great lifestyle and I've had a chance to connect with some old friends who came to the island.
Real Estate activity has been strong this year. Through June 30, 2011 there have been 515 closed sales on the island, which is an increase of 17.57% according to the Marco MLS (for Marco Island only- all properties). Pending sales total 432, which is a 23.78% increase from prior year same time frame. Very impressive activity in terms of transactions and much different than what I read about national trends. Yes this is a local business indeed...
The big question people are asking concerns pricing. What is happening with pricing? Well the average selling price for all properties during the same time frame is $540,813.10, which is a 4.39% increase versus prior year. The median selling price is $380,000.00, which is a 1.65% increase over prior. Excellent news for existing property owners and a good head's up for potential buyers.
A serious well qualified buyer who interested in Marco Island should really consider these trends. The recent decline in inventory is impacting selection and pricing. If you or someone you know is in this position and interested in learning more about the market conditions, give me a call or send me an email. I will be happy to assist you and find an outstanding property at the great values we are seeing. The window of opportunity is now!Labels: Cape Marco, Marco Island, Marco Island Real Estate
Cost of Living/Quality of Life
- Friday, July 8, 2011
Recently I was checking out the differences in cost of living between where I live on Marco Island and places I like to visit. So naturally I thought I'd share the highlights with you.
With regards to cost of living Boston Massachusetts is 15% more expensive than Marco Island Florida. The largest cost factor is utilities. Sames goes for New York City which is 19% more expensive than Marco Island.
Hinsdale Illinois, a popular western suburb of Chicago, is 34% more expensive than Marco Island and the biggest factor is the cost of housing. Barrington Hills Illinois, a northwestern suburb of Chicago, is 68% more expensive than Marco Island. And yes housing costs are the biggest cost factor in this case too. Lake Forest Illinois, which is on the North Shore suburbs of Chicago, was 45% more expensive than Marco Island. Housing was again the big difference. Being from the Chicagoland area I really found these comparisons interesting. For the record I did find some Chicago suburbs, such as Naperville Illinois, which did have lower costs of living than Marco Island.
Next I checked out the differences between Marco Island and some popular resort areas. For the skiers, Vail Colorado was 34% more expensive than Marco Island and housing was again the big driver. For you west coast fans, Laguna Beach California was 91% more expensive than Marco Island. But Dana Point California was only 25% more expensive than Marco Island (yep housing again).
Closer to home Naples Florida is 18% more expensive than Marco Island. Housing is the key driver in this comparison as well. Very interesting indeed...
To look at cost of living differences among U.S. cities, there are several options you can choose from. I selected Sperling's BestPlaces. The web site is http://www.bestplaces.net/ and you can check it out and see for yourself.
When you combine these cost of living comparisons with the outstanding quality of life Marco Island offers, it's easy to understand why it is such an amazing place to live an visit. Come and see for yourself!
Oh by the way for my Canadian friends you can find the average house price for your major cities at www.livingin-canada.com/house-prices-canada. Interesting to note that Toronto has an average house price of $454,000 and it has increased 5.3% over last 12 months. There is a great selection of single family homes and condos on Marco Island for under $450,000 today. So if you are thinking about a vacation, second or retirement home, come on down!Labels: Cape Marco, Marco Island, Marco Island Real Estate, Naples, Naples Real Estate
On the move
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Here's a little something to get you thinking. According to the Marco Area MLS (Marco Island Only) for six months (1/1/2011 through 6/30/2011) the number of transactions for home and condo sales has increased 17% versus last year same time period. During the same time period the number of distressed sales (bank owned or short sales) has decreased 4%. Said another way the market share of distressed property sales has decreased in the first half from 19.6% in 2010 to 16% in 2011. Now that's some big news!
The MLS statistics also indicate that the average sale price and median sale price have increased. Oh and inventory has declined as well. We are seeing some positive trends beginning to take place. Great news for this amazing island in paradise.Labels: Cape Marco, Marco Island, real estate
Foreign Visitors and Buyers
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Good article in yesterday's (7/6/20110) Money section of the USA Today on how foreign buyers are helping the US housing market. The article's title is "Foreign Buyers Help Housing Market". Whether you look at the influence in the percentage of foreign purchases of property or the percentage of foreign property searches online, it is significant indeed. For example the article states that for 12 months ending March 2011, 31% of Florida's home sales were to foreign buyers. That's up from 10% in 2007.
It certainly matches my experience in speaking with customers and colleagues. Most notable is the dynamic influence of Canadian visitors here in Florida. The number of Canadian license plates on cars this season was amazing. It is fantastic to have people who are really excited to visit and buy property in our market. They are making a vital contribution to the improving trends we are experiencing in real estate sales for Naples and Marco Island. In exchange these new property owners now have a great place to enjoy which offers an unbeatable quality of life. Welcome!Labels: foreign buyers, Marco Island, Naples, Naples Real Estate, real estate
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