Marco Island Real Estate - Stats and Commentary Sept 2019 Halloween Edition

The following statistics compare September 2019 to 2018 Sold Single Family Homes UP 20% (24 vs 20) Sold Condominiums DOWN 26% (29 vs 39) Sold Single Family Vacant Lots DOWN 20% (8 vs 10) Pending Single Family Homes UP 85% (32 vs 24) Pending Condominiums UP 62% (34 vs 21) Pending Single Family Vacant Lots UP 250% (14 vs 4) (Pending means it went under contract but has not closed yet) Inventory: 253 Single Family Homes (DOWN 7% from 2018) 328 Condominiums (DOWN 2% from 2018) 269 Single Family Vacant Lots DOWN 6% from 2018) 850 Total - Very Low! Summary: A total of $45 Million dollars worth of real estate closed on Marco Island in the Month of September 2019. $61 Million dollars last month and $40 Million in September 2018 (last year). For the first three quarters of 2019, we are at $551 Million sold compared to $563 Million for the same time period last year which is a 2% decrease in total sales volume, no biggie. The average sale price was $716,000 and the median sale price was $555,000. My interpretation of everything above is that the market is holding steady. Not a ton of activity, but decent, and part of that is due to the low inventory, some of which is priced well above comps. As always, the new tax bills are going out and that will always cause some more properties to come on the market. We also have the "season' creeping up on us and that builds inventory and Buyers love inventory. The crystal ball looks pretty clear that the market is even-keeled with no big shifts up or down on the horizon.  It is just a nice time to buy or sell. 28 years ago tonight I met my first wife at a Halloween Party.  My costume was very elaborate, I put a garbage bag over my head and cut out a hole so I could breathe. Hence, I went as "white trash"; being that I was living in a van down by the river at the time, it wasn't really a stretch. My first wife was a Goddess Pirate, complete with a peg leg, eye patch, long flowing golden hair, and a porcelain face. She looked simply stunning and I was smitten. Being that she could not see me behind my plastic bag I followed her around the whole night. Aside from the couple times, she tried to drop some of her empties into my air hole cut in the bag, things were going well. My skinny little chicken legs (which I sued once for lack of support) were hidden so I looked pretty good to Stevie Wonder. As the night wore on and the drinks she had took effect, I decided to make my move and invite her back to the van.  We ubered over and she went into the bathroom to slip into something more comfortable, while I ditched my bag. When she came hopping out of the bathroom my jaw dropped and I would have run out of the van, but she had a shiv and was blocking the door. It turned out the peg leg was real (she lost the leg wrestling a gator, apparently she shoved it down his throat to choke him out), the golden locks were a wig and she was sporting a Sinead O'conner crew cut, the Porcelain Skin really was a Porceline mask, and let's just say I've seen better heads on a glass of beer. The lazy eye didn't bother me too much but the tattoos of the 87 men's names that were individually crossed out on her arm were a bit concerning. Well, we ended up getting married, had two stout young boys that we dressed up as cute little girls for Halloween, and now my faithful 7.6 readers know how it all began. Now, on this Halloween, you ask is this a trick or a treat? Only you can answer that, but I can tell you what the Gerry Fable is. Don't buy a home or condo without having an inspection done! Not every Seller is totally honest, especially those from New Jersey. Instead of taking their word for things they put on the Seller's Disclosure, hire a competent inspector like Brett from Python Home Inspections, and let him peel off the wig, mask, or whatever and see what is really lurking in the dark crawl spaces of the property. I've got a couple of friends that are doctors and had they given wife #1 a brief looking over they would have told me to move on. Hey, she may have been right for someone that wanted to invest a few hundred thousand in plastic surgery or whatnot to get the end result they wanted, but I didn't have deep pockets. Same for a home or condo, you might want that fixer-upper, but it's still good to know if there is anything seriously hidden like if it's built on an Indian burial ground. The other lesson is that the inspector is really looking for big-ticket items that could be very expensive fix like the A/C, appliances, leaks, termites, and maybe mold. You can't worry about little things like a cracked floor tile or a torn window screen, if you're not buying a brand new property you can't expect things to be perfect, but again, you want to be aware of any big issues. Like wife number 1, the fact that she had no teeth really wasn't an issue and I could look past that as I hate whistling. (we did save a lot of money not having to buy toothpaste so it was a minor blessing). So, get things checked out before you take the plunge and then find out later you made a big mistake. Here is a link to put you in the mood to trick or treat tonight https://www.youtube.com/watch?v=l2PoSljk8cE For the faithful 7.6 readers who beg to know each month's high and low sale, here you go: The highs for the month are... a Single-Family Home for $4.05M at 1071 S. Barfield Drive. For Condos, Princess 802 closed for $1,493,000. For Vacant Lots, 1150 Vernon Ct. closed for $415,000. For you bargain hunters out there, a 3 bed/3 bath Single Family Home at 420 North Collier closed for $439,000. In Condos, we have Seabreeze West G-3 closing at  $110,000 and a Vacant Lot at 374 East Wild Coffee in Hideaway closed for $140,000. ( A clubhouse lot?) As always, please reach out and contact me if you have any real estate questions. And, if you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought. Barb and I look forward to your dinner invites and you paying for the privilege. Barb opened her own Yoga Studio and will include a free yoga class to anyone that takes us out. Now, how can you pass that up? 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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