Bonita Bay Real Estate News | November 2018 - Shadow Wood & Bonita Bay Homes

03 Nov Bonita Bay Real Estate News | November 2018

Posted at 20:00h in Bonita Bay, Real Estate News by admin

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As of November 1, 2018, there are 120 active listings in MLS in Bonita Bay; 14 more than last month. There are 42 single-family homes ranging in price from $440,000 to $7,500,000. The average list price is $1,361,983 and the average days on the market is 173. The combined days on the market is 196. In the carriage, mid-rise, townhouse, and attached villa market, there are 31 active listings in Bonita Bay. Prices range from $250,000 to $679,000. The average list price is $396,616. The average of days on the market is 121. The combined days on the market is 157. In the high-rise market, there are 47 active listings in Bonita Bay ranging in price from $725,000 to $6,750,000. The average list price is $1,807,104 and the average days on the market is 232. The combined days on the market is 282.

Whether you are buying or selling, if you are looking for REALTOR® representation, think of me.

Your Bonita Bay REALTOR®,
Ed Gongola

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:

BONITA BAY CARRIAGE, MID-RISE, TOWNHOUSE AND ATTACHED VILLA HOMES

Within the last 12 months, there were 82 sales with an average sales price of$374,744; these condos were on the market an average of 108 days; combined days on the market is 192.
During the 12 months previous, there were 76 sales with an average sales price of condominiums was $373,751; these homes were on the market for 78 days; combined days on the market is 140.

BONITA BAY HIGH-RISES

During the last 12 months, there were 33 sales with an average sales price of $1,222,667; these homes were on the market an average of 147 days; combined days on the market is 240.
During the 12 months previous, there were 25 sales with an average sales price of $1,352,334; these homes were on the market for an average of 154 days; combined days on the market is 240.

SINGLE-FAMILY BONITA BAY HOMES

During the last 12 months, there were 75 sales with an average sales price of $1,130,058; these homes were on the market an average of 79 days; combined days on the market is 172.
During the 12 months previous, there were 76 sales with an average sales price of $1,172,965; these homes were on the market for an average of 106 days;combined days on the market is 204.

For a list of BONITA BAY homes sold in the last 12 months, click here.

For a list of BONITA BAY homes that are pending at the moment, click here.

Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.

The Everything Guide to Selling Your First Home

How to figure out exactly what you want, and how to work with the experts who’ll help you get it. Read

Visit houselogic.com for more articles like this.

© Copyright 2018 NATIONAL ASSOCIATION OF REALTORS®

NOVEMBER 2018 MARKET UPDATE

FALL SEASON IS ALREADY HIGH SEASON

“We had a pretty good October,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Comparing October 2018 with October 2017, our pending sales transactions were up 18 percent, our pending sales volume was up 9 percent, and Downing-Frye’s closed transactions were up 4 percent. It was a busy summer, and now a busy fall, and it looks like the high season is already beginning. Car carriers have been arriving and unloading, and part-time residents are returning to find an already-active real estate market. Buyers need to jump in or the best offerings will be taken.”

BONITA /ESTERO: HOUSING HEATS UP

The Bonita Springs and Estero housing markets showed a notable 53 percent increase in pending sales in September 2018 versus September 2017, with increases in all price segments up to $1 million. Additionally, there was an 18 percent increase in closed sales for the same time period. The median closed price remained the same at $280,000. The average days on the market decreased by about one third, so it now takes an average of 94 days to sell a property. “There is no real benefit to wait until January to list your property for sale,” stated Jerry Murphy, Managing Broker, Downing-Frye. “Available inventory is quickly increasing in the market and listing now will provide sellers with less resale competition. You can be one of ten listings now in a community or one of a hundred listings in January.”

FLORIDA: MEDIAN SALES PRICE UP

Florida’s housing market reported more closed sales, higher median prices and more pending
sales in September compared to a year ago – when Hurricane Irma struck the Florida Keys on Sept. 10, 2017. Florida Realtors Chief Economist Dr. Brad O’Connor said, “With most areas of the state out of commission for a week or more, we saw severely depressed levels of closed sales, new pending sales and new listings last September. For this reason, the year-over-year changes in these three metrics are inflated in this September’s data and aren’t reflective of current trends. Fortunately, the year-over-year changes we reported for most of the other metrics – such as median price – were not as significantly skewed by the impact of Irma. In September, end-of-month statewide single-family inventory was up for the third straight month, this time by 6.5 percent year-over-year. Meanwhile, condo and townhouse inventory rose by a more modest 2.9 percent.”

USA: HOME SALES DOWN IN SEPTEMBER

Existing-home sales declined in September after a month of stagnation in August. Sales are now down 4.1 percent from a year ago. Lawrence Yun, NAR chief economist, says rising interest rates have led to a decline in sales across all regions of the country. “This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country. Rising interests rates coupled with increasing home prices are keeping first-time buyers out of the market, but consistent job gains could allow more Americans to enter the market with a steady and measurable rise in inventory,” said Yun. September’s median existing-home price was $258,100, up 4.2 percent from September 2017.

Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.

New Spin Bikes Arrive!

Members, come try out the brand new spin bikes. Spin classes are available Monday-Thursday & Saturday at 9:00 a.m. (Friday classes are available at 9:15 a.m.) Call the Fitness Center to sign up.

Bonita Bay Dining Schedule

(Beginning Oct. 15)

CLUBROOM

Lunch Daily 11:00 a.m.-2:00 p.m.

Sunday Brunch 10:30 a.m.-2:00 p.m.

Dinner 5:30-8:00 p.m. Tuesday – Thursday

Dinner 6:00-8:00 p.m. Friday POETS Night

Dinner Saturday nights beginning in January

55th HOLE

Daily 11:00 a.m.-10:00 p.m.

MEN’S GRILL

Daily: 11:00 a.m.-4:00 p.m.

NFL Ticket in Men’s Grill

Sundays during Football Season for 1:00 p.m. games
(Women are invited to attend beginning at noon)

WAVE CAFE

Monday-Friday-8:00 a.m.-2:00 p.m.

Food Service beginning at 10:30 a.m. daily

BBC Naples

Lunch Daily 11:00 a.m.-3:00 p.m.

BREEZEWAY BAR & CAFE

Tuesday-Thursday
11:00 a.m.-5:00 p.m.
Friday-Monday
11:00 a.m. – 10:00 p.m.

A Home Where Someone Died: Does That Need to Be Disclosed?

You’re trying to sell a home that a former owner passed away in. Must you reveal that to home buyers, and will it give some buyers the creeps?

In the majority of cases, with a peaceful death inside a home, “there’s no legal obligation in most states requiring that [sellers] disclose it,” Jason Wells, a real estate professional and attorney at Wells Law Group in Phoenix.

Indeed, the majority of states do not require sellers or their real estate agents to disclose incidents such as homicides, felonies, suicides, or natural deaths in a property, or any rumored paranormal activity associated with the home, according to HomeLight, a real estate referral company.
Certainly, there are some exceptions to that, including California, South Dakota, and Alaska. For example, in California, any death on a property in the last three years must be disclosed to buyers. Check with your state’s housing authority for rules in your market, or view HomeLight’s interactive map that breaks down disclosure laws by state.

Some states require that real estate practitioners disclose up front if a home is stigmatized, but what constitutes a stigma can vary. Violent deaths like murders and suicides may stigmatize a property and, therefore, may have a different set of rules to follow. Cases like these could potentially affect the home’s value, and in the majority of states, murders on a property are required to be disclosed to buyers, according to an article at realtor.com®.

When disclosures aren’t made, real estate pros and the former owners run the risk of buyers learning of them after they move in-and often from the neighbors. To avoid potentially unsettling surprises, Katie Walsh, a real estate pro at Keller Williams Legacy Once in Chandler, Ariz., advises her buyers to search for the address of the home, or visit Diedinhouse.com, a site that lets users purchase reports detailing whether a death has occurred at an address.

Also, sellers need to be up front. If a buyer asks whether a death has occurred in the home, home sellers and real estate professionals are legally required to tell them the truth.

What is Florida’s Rule?
Per Florida statute 689.25, “the fact that a property was, or was at any time suspected to have been, the site of a homicide, suicide, or death is not a material fact that must be disclosed in a real estate transaction,” and owners and agents are protected from legal action for failing to disclose.

Omega

Click to check out the panoramic views of Omega on YouTube.

A Word from Downing-Frye Broker & General Manager Mike Hughes

So … How is the month of October shaping up? Is red tide affecting sales? To be quite honest, we are having a pretty good October. We still have one more day (today) to add to what I am reporting now. Our pending sales transactions for October are UP 18% over last October. Our pending sales volume in October 2018 is UP 9% over last October. Downing-Frye’s Closed Transactions are UP 4% this October compared with last October.

As far as red tide and other water issues, I know of only several lost sales due to water issues. Even the ones that I am aware of, you don’t know whether the stated reason was the real reason for not closing. So, the number of Downing-Frye deals that I have heard lost due to red tide, I could count on one hand. I think there is more chatter about this topic but the consumer still sees the value of living in paradise.

Bonita Bay NOVEMBER Events Calendar

Download the full 2018-2019 Event Calendar.

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Bonita Bay Real Estate News | November 2018