Monday, May 13, 2019 / by Hunter Habib
It’s hard to believe that we’re nearly halfway through 2019— but now that it’s May, you may be wondering if the summer is good time to sell your house or condo.
The data might surprise you.
When it comes to selling a home in SWFL, the summer months are an ideal time to list your property—and the reason for this is linked to something known as the absorption rate.
Simply defined, the absorption rate is the rate at which properties in a certain area, sell in a defined period of time. To calculate the absorption rate, realtors divide the number of monthly sales by the number of properties that were on the market.
If there were 100 homes on the market in a SWFL community in a given month, and 10 of those homes were sold, the absorption rate would be 10/100, or 10%. When areas have a high absorption rate (20% or greater), this means that homes are not only selling quickly- but homeowners are operating in a sellers’ market.
So, what does this ...
Tuesday, May 7, 2019 / by Hunter Habib
BONITA SPRINGS, Florida | May 3, 2019 – New construction communities in Estero and Bonita Springs are sprouting up like weeds overnight. In previous years, a main focal point when buying real estate in Southwest Florida was being within a mile or two of the beaches. “Location, Location, Location” is what this is most commonly referred to in the industry, as the resale value on a beach-centric home is increasingly larger than one beyond the sights of the shoreline. Although the resale value of a home is top priority to a buyer when making a purchase, it is not the only consideration. Agents in the SWFL market are finding that buyers are looking towards new construction communities more now than before as homes near the beach do not offer the same rich amenities and square footage at the same price point.
According to the Bonita Springs-Estero REALTORS® (B.E.R.) Media Committee, with reporting from the SWFLAMLS, year-to-date sales in new construction, pre-construct ...
Monday, April 8, 2019 / by Hunter Habib
Is it April already? It sure is and that means we are steadfastly moving into our spring selling season in Southwest Florida. Homeowners with active listings in the market continue to implement price repositions going into springtime. While the winter selling season is more than halfway behind us, there is still time to list as well as implement a price reposition. Based on our historical data, springtime has also been a steady selling season. If you currently have your property listed and you’ve received little to no activity or offers, chances are a price reposition is necessary. However, you have not missed your window – the spring selling season will still offer time to get it sold! Just be sure to price according to market value and an experienced real estate agent can help you understand what that market value is for your property.
For buyers, be sure to weigh the pros and cons of a new construction purchase versus a resale. Om ...
Monday, March 11, 2019 / by Hunter Habib
Happy March, everyone! Since the end of 2018, our team has been tracking an emerging trend, which has indicated a slow start to the 2019 year. Late last year, we started noticing a change affecting sales and made mention of the “shifting market” in our February 2019 Market Introduction. Now that we’re in March, the trend has been confirmed. The change has affected both January and February sales as reflected in the area’s decrease in pended sales. However, this trend does not in any way suggest a downturn or any reason to become concerned with the market. The shift can also be short-lived, as our market is experiencing normal behavior as we continue to balance out.
However, you’ll still want to make sure you’re working with an experienced REALTOR® in a shifting market, no matter how short-lived the shift may be. For instance, lower priced homes are still receiving multiple of ...
Monday, February 11, 2019 / by Hunter Habib
Happy February! We are well into the winter buying season and buyers have many options! Resale inventory has opened a bit in both the single-family and condominium market, and new construction homes are also available in many different locations in Naples, Bonita Springs, Estero, and Ft. Myers. Having many choices make the Southwest Florida region a great place to buy!
If you’re not sure if you’d like to purchase a new construction home or a resale home, there are specific things you should know before making that decision. For example, buyers need representation for new construction especially in this shifting market (I will address the shifting market reference a little later…). Many buyers do not realize that everything is negotiable in a new construction home transaction! Buyers working with the builder or the on-site builder agent really have no frame of reference other than what the builder is offering.& ...