michael polly: Waterfront Deals
- 02/06/07 11:54 AM
Just this week I've seen some great deals on waterfront homes. New homes on wide canals $300-$400K under previous asking prices. Riverfront land under $400K, big 2800 sq ft homes on the river with RV pad and dock in place for under $900,000. These are loaded with value and offer strong long term appreciation, not to mention great life styles for the boater or waterfront lover.
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michael polly: What is value
- 02/06/07 11:51 AM
Buyers of real estate today seem to be looking for value. A very loose term and one that has different meaning to different people. Are we nearing a point where construction costs are less that what sellers of resale homes have to sell for? Of course the unknown factor is land cost. When looking at land sales of waterfront or large parcels it seems they are holding more firmly to the asking price than those homesites where there are many, many to choose from. Value in the end is "in the eye of the beholder". Buyers have a chance to purchase … (0 comments)
michael polly: What does 2007 hold
- 02/06/07 11:43 AM
January is over and the munch anticipated results to our first full months of sales in the new year are in. Sales of exisiting single family homes in Lee County are down 22% from January 2006. Just 641 homes sold in January 2007 and that is some 120% down from the over 1400 that went pending during the heat of the market January 2005. Several factors influnced this continued down turn. Inventory continues to increase, buyers are still waiting for the all clear, and builders who are sitting on inventory are offering huge discounts and incredible incentives. You can get $100-200K off … (0 comments)
michael polly: Ladies and Gentlemen Start Your Engines
- 01/11/07 01:43 PM
2007 is off and running and so far thru the first 12 days the stats are less than stellar. Total single family home inventory is now sitting over 14,000. Building permits have dropped to an all time low, however, with a 9-12 month build cycle we are still seeing inventory come online that was permited a year ago. It will take 12 months for the slow down in building to hit. Sales, while steady, are not eating away at these inventory levels. It will be very interesting what happens in these first 3 months of the year. I believe buyers will pick … (1 comments)
michael polly: When did the market turn?
- 01/09/07 10:51 AM
Wading through mounds of spreadsheet data on the Lee County, Cape Coral, Fort Myers and surrounding markets has let me to say hummmm, more than once. The latest hummmm came when looking at median price by zones. We group zip codes into zones by housing areas. What this made me ask myself was when did the down turn start? There are some zones that showed negative appreciate between 2004 median pricing and 2005. Yet all we hear about is the fall of 2005 is when our market turned. Well I believe there where signs pointing this out in specific areas. The whole … (1 comments)
michael polly: Lee County Inventory Single Family Homes
- 01/08/07 12:56 PM
I have been working feverishly to collect the necessary data for our MarketWatch booklet and presentation. Even though we track this data daily I like to recapture the data and I also grab Collier and some information on active listings just to enhance the information presented. When I pulled the inventory today I noticed it had topped the 14,000 level of active homes on the market. I think a rush to get into the market for what is our season has propelled us to this historic level. Typically we see between 52%-56% of the homes sold in the first half of … (0 comments)
Lee County Florida's Real Estate Market
The ins and outs of sticking your toes in the sand when the sun is beating down in December. Finding just the right home or condo in Fort Myers or Cape Coral. Helping people understand to to buy and deal with foreclosures, bank owned REO properties and short sales. Opportunites exist and The Real Deal is my attempt to give you my perspective from the heart of our real estate world here in south west Florida.
Just this week I've seen some great deals on waterfront homes. New homes on wide canals $300-$400K under previous asking prices. Riverfront land under $400K, big 2800 sq ft homes on the river with RV pad and dock in place for under $900,000. These are loaded with value and offer strong long term appreciation, not to mention great life styles for the boater or waterfront lover.
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