02 Dec Bonita Bay Real Estate News | December 2017
As of December 1, 2017, there are 103 active listings in MLS in Bonita Bay; 11 more than last month. There are 32 single-family homes ranging in price from $409,900 to $4,550,000. The average list price is $1,225,909 and the average days on the market is 132. The combined days on the market is 170. In the carriage, mid-rise, townhouse, and attached villa market, there are 40 active listings in Bonita Bay. Prices range from $159,000 to $569,900. The average list price is $391,075. The average of days on the market is 144. The combined days on the market is 242. In the high-rise market, there are 31 active listings in Bonita Bay ranging in price from $499,000 to $2,750,000. The average list price is $1,478,513 and the average days on the market is 259. The combined days on the market is 275.
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SUMMARY OF BONITA BAY HOME SALES
If you are considering selling your Bonita Bay home, here are some statistics that may help you decide to place your home on the market:
- Within the last 12 months, there were 75 sales with an average sales price of$371,744; these condos were on the market an average of 85 days; combined days on the market is 148.
- During the 12 months previous, there were 79 sales with an average sales price of condominiums was $403,291; these homes were on the market for 57 days; combined days on the market is 126.
- During the last 12 months, there were 25 sales with an average sales price of $1,382,334; these homes were on the market an average of 153 days; combined days on the market is 236.
- During the 12 months previous, there were 33 sales with an average sales price of $1,442,848; these homes were on the market for an average of 114 days; combined days on the market is 200.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 74 sales with an average sales price of $1,157,367; these homes were on the market an average of 113 days; combined days on the market is 210.During the 12 months previous, there were 74 sales with an average sales price of $1,081,059; these homes were on the market for an average of 90 days;combined days on the market is 191.
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DECEMBER MARKET UPDATE
“We are on pace to meet or exceed our pending sales numbers from last year despite being hit by a major hurricane,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “A sign that we are rapidly putting the hurricane behind us is the fact that our agents turned in 184 pending contracts during October, which is more than were turned in during October 2016. Not only is there an increase in the number of contracts, but also the overall dollar volume went up.”
FLORIDA: GETTING BACK TO NORMAL
The impact of Hurricane Irma on Florida’s housing market resolved by the end of October. Sales, median prices, new listings and new pending sales rose even as the inventory of for-sale properties remained constrained in many areas. Sales of single-family homes statewide totaled 20,543 in October, up two percent compared to October 2016. Looking at Florida’s condo-townhouse market, statewide closed sales totaled 8,116 in October, up 2.2 percent compared to October 2016.
The statewide median sales price for single-family existing homes in October was $235,558, up 7.1 percent from the previous year, and the statewide median price for condo-townhouse properties was $170,000, up 5.2 percent over the year-ago figure. October’s for-sale inventory remained tight with a 3.8-month’s supply for single-family homes and a 5.6-months’ supply for condo-townhouse properties.
USA: ON-GOING SUPPLY SHORTAGES
Pending home sales rebounded strongly in October following three straight months of diminishing activity, but still continued their recent slide of falling behind year ago levels. Although home-builders are doing their best to ramp up production of single-family homes amidst ongoing labor and cost challenges, overall activity still drastically lags demand. “Existing inventory has decreased every month on an annual basis for 29 consecutive months, and the number of homes for sale at the end of October was the lowest for the month since 19991,” said Lawrence Yun, NAR chief economist. “Until new home construction climbs even higher and more investors and homeowners put their home on the market.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
Bonita Bay Fall Dining Schedule
Lunch Daily: 11:00 a.m. – 2:00 p.m.
Sunday Brunch: 10:30 a.m. – 2:00 p.m.
Tuesday – Thursday à la Carte Dinner: 5:30 p.m. – 8:00 p.m.
Friday – POETS Night: 6:00 p.m.
with live music and themed buffet
Saturday – Thursday: 11:00 a.m. – 10:00 p.m.
Friday: 11:00 a.m. – 11:00 p.m.
(Food service until 9:00 p.m. nightly)
Live Entertainment on Wednesday Nights
Daily: 11:00 a.m. – 4:00 p.m.
NFL Ticket shown on Sundays for the
1:00 p.m. games.
(Women are invited to attend beginning at noon)
Monday through Friday 8:00 a.m. – 2:00 p.m.
(Food service beginning at 10:30 a.m. Daily)
BONITA BAY CLUB NAPLES
Lunch Daily 11:00 a.m. – 3:00 p.m.
A Word from Downing-Frye Broker & General Manager Mike Hughes: A Big “Thank You”
This a great time for us to thank you for being part of the Downing-Frye family. We appreciate your contributions to our company. $1.3 billion in closed sales volume (so far) this year is something that we all contributed toward. The Downing-Frye success story is the sum of many parts. We feel that we have the finest real estate agents in Southwest Florida. We have our trainers who are second-to-none. They are truly the best of the best. We have our tech guys who make complicated items simple. I am very proud of our staff who have been with us for many, many years. Their hard work is greatly appreciated. Thank you to our manager for expanding the Downing-Frye reach. The executive management team has been together, intact, for 18+ years. That is somewhat unique in this ever-changing industry. We are thankful that our office buildings withstood a very ominous hurricane on September 10th! So as you can see, we have a lot to be thankful for.
Bonita Bay DECEMBER Events Calendar
Dec. 2 |
Merry Mistletoe | 11:30 am | 1:15 – After Tennis Holiday Party!
Dec. 18, 20, 22, 27, & 29 | Junior Tennis Clinics | 9:00 a.m. to 10:00 a.m. – 10 to 14 years old
| 10:30 a.m. to 11:30 a.m. – 5 to 9 years old
Dec. 26 | Family Celebration
Dec. 27 | Junior Tennis Clinics
Dec. 29 | Junior Tennis Clinics
Dec. 6 | Tennis & Golf Shop Holiday Sale
Dec. 7-9 | The Tradition | Men’s Golf
Dec. 12 | Women’s December Member-Guest | Cypress | 9:00 a.m. Shotgun
Dec. 28 | Family Fun Golf Day | Marsh Golf Course and Practice Area | 9:00 a.m. – 4:00 p.m.
DINING & SOCIAL
Dec. 1 | POETS Night Italian – “Randy & Lori” | 6:00 pm
Dec. 8 | POETS Night Tour of American BBQ – “Kelly & Shelly” | 6:00 pm
Dec. 11 | Trivia Night | 6:00 pm
Dec. 13 | Women’s Alliance
Dec. 15 | POETS Night Latin American Favorites – “Wendy Renee & Co.” | 6:00 pm
Dec. 22 | POETS Night Turkey – “Robert Williamson Duo” | 6:00 pm
Dec. 23 | Candlelight Dinner | Clubroom & Ballroom | Upscale Club Attire | 6:00 – 8:00 p.m
Dec. 24 | Brunch with Santa | Clubroom | 10:00 a.m. – 1:00 pm
Dec. 26 | Family Italian Night | Clubroom & Ballroom | 6:00 – 8:00 pm
Dec. 29 | POETS Night Prime Rib – “Billy Dean & Dawn” | 6:00 pm
Dec. 4 | Holiday Party Survival Guide | 11:15 am
Dec. 13 |Sharpen Your Mind | 11:15 am
Agency & Agency Relationships
The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction.
The seller’s representative (also known as a listing agent or seller’s agent) is hired by and represents the seller. All fiduciary duties are owed to the seller, meaning this person’s job is to get the best price and terms for the seller. The agency relationship usually is created by a signed listing contract.
The buyer’s representative (also known as a buyer’s agent) is hired by prospective buyers to and works in the buyer’s best interest throughout the transaction. The buyer can pay the agent directly through a negotiated fee, or the buyer’s rep may be paid by the seller or through a commission split with the seller’s agent.
A subagent owes the same fiduciary duties to the agent’s customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer customer can expect to be treated honestly by the subagent.
A disclosed dual agent represents both the buyer and the seller in the same real estate transaction. In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients. Because of the potential for conflicts of interest in a dual-agency relationship, all parties must give their informed consent. Disclosed dual agency is legal in most states, but often requires written consent from all parties.
Designated agents (also called appointed agents) are chosen by a managing broker to act as an exclusive agent of the seller or buyer. This allows the brokerage to avoid problems arising from dual-agency relationships for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties.
A transaction broker (sometimes referred to as a facilitator) is permitted in states where nonagency relationships are allowed. These relationships vary considerably from state to state. Generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
Official Bonita Bay Club Brochure
Looking for an overview of the Bonita Bay Club for yourself or to send to others? Here’s a quick look at the Bonita Bay Club’s five championship golf courses designed by two legendary architects; an 18-court tennis center; two welcoming clubhouses; Lifestyle Center with a state-of-the-art fitness center and spa; and, a world-class staff — the elements that make Bonita Bay Club South Florida’s premier country club.
Owned and governed by its members since 2010, Bonita Bay Club offers membership levels in golf and sports that suit the preferences of active Bonita Bay residents. In addition, limited golf memberships are available for the the Naples Club only. Download brochure.