Sold Single Family Homes UP 21% (57 vs 47)
Sold Condominiums UP 4% (58 vs 56)
Sold Single Family Vacant Lots UP 10% (11 vs 10)
Pending Single Family Homes DOWN 16% (54 vs 64)
Pending Condominiums DOWN 15% (55 vs 65)
Pending Single Family Vacant Lots UP 13% (17 vs 15)
(Pending means it went under contract but has not closed yet)
Inventory:
336 Single Family Homes (UP 7%) from 2018)
418 Condominiums ( UP 9% from 2018)
330 Single Family Vacant Lots (UP 11% from 2018)
1,084 Total
Summary:
A total of $94 Million dollars worth of real estate closed on Marco Island in the Month of April 2019. $70 Million dollars last month and $90 Million in April 2018 (last year). April was a strong sales month with 129 total property sales. Even more interesting is the fact that the overall average sales price DECREASED by 4.8%. What happened? I'll tell you what happened, the super high-end buyers took a little hiatus and the $1,000,000 and under buyer's really started to move into the market. I think there are ebbs and flows and that is all we are seeing here. I've also been talking a lot the last few months about the ongoing price reductions and I think that took hold and we are seeing real-life effects as the sales increased. This just proves that most of what I tell you is true and you need to pay careful attention if you want to be in the know.
I was following a Honey Wagon truck the other day. For those of you that don't know what that means, the Honey Wagon is the truck used to vacuum up the pee/poop/other in a Porta-potty or a Septic Tank. The gentleman that drives the truck, is commonly referred to as The Honey Dipper or Mr. Bob, as he is on the job. Anyway, on the back of the truck, it said: "We are #1 in the #2 business". Back when they were building Pier 81 we had a trailer and Bill The Honey Dipper used to come once a week to empty the holding tank. He would put on his gloves, grab the business end of the vacuum and stick it down into the tank. After a few minutes, he would take the dripping end of the hose out of the tank and put it back on the truck. We would always have a conversation about business and he taught me some tricks of the trade. Such as you never want to get called in to pump out at the county fair after the Red Hot Chili Bean and Corn eating contest. But most memorable to me was how he would light up a cigarette and hold it up to his mouth right after a fresh pump out. I nonchalantly mentioned to him once that this may not be good for his health. He shrugged his shoulders and said he knew smoking was bad for him. I said, "well, besides that you could get sick from putting your hand near your mouth". He laughed and said, "nah, that's why they give me blue gloves to wear". When I pointed out that he was wearing his blue gloves while he smoked the butt, he said: "I never inhale". Well right then and there, I knew what it took to be #1 in the #2 business, and this is it, you can't worry about little crap.
Now my 7.6 faithful readers are daring me to translate Gerry's fable above into something to do with Real Estate. Well, that's easy and I'll give you two examples. First, just like the Honeydipper, pretty much every Realtor states they are #1. Now, in reality, everyone can't be #1, but if we bend the truth a little, I guess everyone can be #1 of something. I know a Realtor that is #1 in Buford, Wyoming. Now, for those of you that are not familiar with Buford, they are booming metropolis and have a population of 1, that's right, just one. I know a Realtor that was the #1 sales agent in 1962 for the Deltona Corporation here on Marco Island. To this day when they run a newspaper ad, it simply states #1 Realtor on Marco Island. Ultimately, I'm not sure there is a real #1 and I wouldn't worry too much about it. The other thing I want to relate to Real Estate is the "don't worry about the little crap theory". If you are a Seller, don't worry so much about the house being immaculate for every showing. I have Seller's that will sometimes deny a showing because they have guests in town and there are suitcases or towels laying around and they don't want anyone to see it. Trust me, the Buyer is more interested in your asking price than if your dishes are in the sink. For the Buyer's out there don't try to think for the Seller. If you see the property and like it, don't worry so much about "why are they selling?", "why are they asking that much?" and the ever popular, "how much will they take?". Listen, nobody knows what anyone will take on any given day, and sometimes the Seller is included in that group. If you like a property, it is reasonable to the comps, and you can afford it, we will all find out simultaneously how much they willing to take as they find out how much you are willing to pay! And always remember that famous children's book by Taro Gomi titled "Everyone Poops". Me? I'm happy being #2.
Andy and Willy suggest you click here to better understand the subject matter as this is how they learned all about it: https://www.youtube.com/watch?v=NgGlS4jgeys
The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of February, and they are as follows:
Single family home, 1615 Ludlow closed for $4,550,000 Condo, Belize 607 closed for $1,950,000 and a vacant lot at 1408 Butterfield Court closed for $1,150,000.
For the bargain hunters, a 3 bedroom home at 1224 Bluebird closed for $280,000. A condo in Coquina Gardens Unit 207 closed for $92,000 and a vacant lot at 670 Amber closed for $205,000, yes you can still get a great deal on Marco Island.
As always, I strongly encourage you to invite my current wife and me out for dinner as often as possible. She hates to cook and I hate her cooking. We are a match made in heaven, with your help by taking us out, we may stay together. So, you can be part of the problem or part of the solution.
And, if you are thinking of using me as your Realtor, keep in mind that I will never be out-thought or out-fought.
Gerry Rosenblum
Broker Associate
Berkshire Hathaway HomeServices Florida Realty
2013, 2012 & 2007 President Marco Island Area Association of
Realtors
2008 Realtor of The Year - Marco Island
239-450-4770 (cell)
1-888-239-5131 (toll-free e-fax)
1-800-237-8817 (toll-free)
To View the Entire Marco MLS go to: www.viewmarco.com
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