Marco Island Real Estate Stats and Commentary for August 2017

The following statistics compare August of 2017 to August 2016

Sold Single Family Home Sales UP 21% (29 vs. 24)

Sold Condominium Sales DOWN 10% (27 vs 30)

Sold Single Family Vacant Lots DOWN 13% (7 vs 8)

Average Sale Price Single Family Home DOWN 12% ($660k vs $750k)

Average Sale Price Condominium DOWN 31% (($595k vs $868k)

Average Sale Price Single Family Vacant Lot UP 81% ($491k vs $272k)

Total Dollar Value of all Single Family Homes Sold UP 6% ($19M vs $18M)

Total Dollar Value of all Condominiums Sold DOWN 38% ($16M vs $26M)

Total Dollar Value of all Single Family Lots Sold UP 58% ($3.4M vs $2.1M)

Current Inventory:

314 Single Family Homes (DOWN .32% from 2016)

336 Condominiums (DOWN 1% from 2016)

287 Single Family Lots (DOWN 16% from 2016)

A total of $39 Million dollars worth of real estate closed on Marco Island August of 2017 compared to $46 Million dollars worth in August 2016. Okay, let's not pussyfoot around (I think that's really what Trump meant to say) and talk about IRMA. As we all saw on all the news channels, Marco Island took a direct hit. And you know what? Marco proved it can take a punch. Sure, there were some knockdowns of trees, pool cages, roof tiles, the Sprint cell tower and signs, but in the end, Marco stood tall and was standing at the end of the storm. Certainly, there were some homes and condos that suffered more severe damage and there are some examples of freak issues, such as the seawall at Ville de Marco West failing and the water is now under the building and the pilings are exposed. (photo attached) Again, all in all, we took a direct hit and things are pretty good for most people.

So, you always ask "what does this have to do with Real Estate" I'll tell you. Once we had internet and phone back up I received multiple calls, texts, and emails from folks wondering if there would be any "deals" to be had. I am sure there will be and here is why....We have a summer home back in New Jersey on LBI that was wiped out by the flood of Super Storm Sandy. As a bit of time went by, it became apparent that many of the home owners had no mortgages, so they had no required insurance. In some cases, the homes suffered $50,000 to $100,000 worth of damage and the current owner didn't have the money or desire to repair the home.  In many cases, they would simply discount the home and sell it AS-IS. As many folks like to buy homes and remodel them with new roofs, flooring and the like, this resulted in the chance to buy property at a discounted price.  Not everyone on Marco is a multi-millionaire like my faithfull 7.6 readers, so I'm sure there will be those that begin to sell AS-IS properties at a discount here on Marco. One of the most important things I learned from living on Marco and New Jersey for decades is that people have short memories when it comes to storms. (but not for ex-spouses) Sure, things on Marco are a bit smelly now and it is sad to see all the trees and foliage damaged by the storm, but in a few weeks that will all be cleaned up and things will be looking pretty normal in no time. I'd say 90% of the businesses are back up and running and there is a sense of comaraderie/fraternity that I've mentioned before that is stronger than ever here in Paradise. It is heartwarming to see neighbors helping neighbors and strangers helping strangers.  Our good neighbors in Goodland and Isles of Capri have suffered much worse than Marco and any help you can send their way would be great. The other thing you can do is support your local businesses by patronizing them. I would encourage any of the faithfull 7.6 that are in town and want dine out to feel free to invite Barb and I. If you pay, we are more than happy to help run up the bill, which is our way of helping show support.

My first wife feels very strongly about this topic so she went right out and got her hair done. She was instrumental in raising Andy and Willy so they too showed their support by rushing out as soon as the fresh fish arrived so they could have sushi.

Luckily the liquor stores were open or there would have been bedlam. And another interesting fact is that all the caffeine addicts were lined up outside Starbucks with blank looks on their faces.

As a public service announcement, I would advise you NOT TO EAT ANYTHING IN YOUR REFRIGERATOR or FREEZER upon your return to Marco. The electric was out long enough in most places to allow everything in the freezer to thaw out and now that the electric is back on it refroze. Those bacon wrapped Omaha filets you left behind are now fit to be crab bait, don't throw them on the Barbie.  (my first wife)

Now, back to business. The sold $$ leaders for the month are... a Single-Family Home for $1.5 Million at 114 Coco Plum in Hideaway. For Condos, Belize Penthouse 2305 closed for $5,900,000.00 (nice) and for Vacant Lots, 152 Dan River Court closed for $825,000. 

For you bargain hunters out there, a Single Family Home at 508 Fifth Ave . closed for $292,500.  A Condo in Aquarius unit D4, closed for short money at $123,000 and a Vacant Lot at 1286 Bluebird closed for $112,000  Again, there really is something for everyone here on Marco Island.

As always, please reach out and contact me if you have any real estate questions or want to take me and my first wife out to dinner.

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

Marco Island Real Estate Stats and Commentary for July 2017

The following statistics compare July of 2017 to July 2016

Sold Single Family Home Sales NO CHANGE (33 vs. 33)

Sold Condominium Sales DOWN 29% (30 vs 42)

Sold Single Family Vacant Lots UP 267% (15 vs 9)

Average Sale Price Single Family Home DOWN 13% ($704k vs $808k)

Average Sale Price Condominium DOWN 9% (($538k vs $591k)

Average Sale Price Single Family Vacant Lot UP 90% ($588k vs $310k)

Total Dollar Value of all Single Family Homes Sold DOWN 13% ($23M vs $27M)

Total Dollar Value of all Condominiums Sold DOWN 35% ($16M vs $25M)

Total Dollar Value of all Single Family Lots Sold UP 539% ($4.6M vs $726k)

Current Inventory:

311 Single Family Homes (DOWN 5% from 2016)

343 Condominiums (Up 3% from 2016)

291 Single Family Lots (DOWN 13% from 2016)

A total of $48 Million dollars worth of real estate closed on Marco Island in July of 2017 compared to $55 Million dollars worth in July 2016. Okay, everybody is looking at the red numbers above and wants to know what is going on. First, it's the middle of the summer and things slooooow down every summer. Second, the weather, it has been raining so much I just sold a big boat slip to a guy named Noah. Third, the inventory is down, just 945 Homes, Condos and Vacant Lots for sale, and that isn't many. The upside to the inventory story is that the 2018 proposed tax bills just went out. Do you know what that means? It means, that like every other year, folks up north that have been thinking about selling their property get that tax notice and say "now is the time to sell". Then they call their favorite Marco Realtor and list their property for sale. Then they decide they really love Marco and when their property sells they buy a bigger and better one. And then they are even happier and the cycle of real estate life continues. Getting back to the numbers above, this is typical market seasonality and Sellers don't need to panic, and Buyers can't get all crazy thinking they are going to swoop in and steal something. It's just another day at the office.

I mentioned earlier about people buying a newer property or a second property and sometimes even more than that. I have one customer right now that owns 17 vacant lots and if you look a the numbers above you will notice all green numbers concerning vacant land. I've been screaming at you all to buy vacant lots and a few of you listened. So, when you buy more than 1 of something that you really like, or if you buy one and sell one to get a better one, that makes you a collector. And as you always ask, what does this have to do with Real Estate? And here is my answer: The only people I know with collections are rich people. The only other place you find collections are museums, which were endowed by philanthropic rich people. Now some of you reading this are already rich, so you are now fondly thinking about your collections of real estate, art, jewels, stamps, coins, marbles, and ex-wives/husbands. Now, I'm a student of life and real estate, so I figure, if you like all the things on the list I just typed, you will notice it starts with Real Estate. Rich people collect real estate, hence, if you are not rich, you should start buying more real estate, and before you know it, you will be rich. The equation for this is OWNING MORE REAL ESTATE + TRUSTING ME AS YOUR REALTOR = (RICH & HAPPY).  Personally, I am a wife collector. I got a pretty good one to start my collection and have been constantly working on adding to it. My kid collection, is like my Picasso's, I can't figure them out, but I figure they're valuable so I'll keep them.

The other thing I collect are customers. They come in all shapes and sizes. They come from all parts of the world and some are from other planets.  I have customers that are car dealers, and to my pleasant surprise, are always a pleasure to deal with (I was afraid of them at first). I have countless doctors, lawyers, professors, executives, and my nightmare accountant customers. (Trust me, I understand the numbers never work, but the true bottom line is that they love Marco). I have customers that worked very hard for their money, and those that got it the old-fashioned way, they inherited it. I have smart customers that married their money, which I should have done because I have learned that when the love is gone, the money is still there. I have a customer that owns a company that makes the little plastic piece that only allows one butt wipe to come out of the dispenser. (He is really cleaning up now!). I have a customer that owns a bunch of liquor stores and one that works at a drug and alcohol rehab. (They've never met)  I've had professional athlete customers and one that ran a Nuclear Power Plant, (he is very easy to spot at night because he glows). I have Stock Brokers, Pilots, and even other Realtors from out of town (second worse, only to the accountants), Real Estate Developers, a Senator, and one of my favorites, who is a "Poor Old Sod Farmer". 

Just like America, Marco truly is a melting pot (speaking of pot, I have a few Colorado customers who are the mellowest to deal with). The one common denominator for all of my customers is their love of Marco. Well, two common denominators, their love for Marco and their excellent choice of me as their Realtor.  When I really think about it, I don't collect customers, I collect friends, because that is how I view each and every one of them, as a friend.  

Now, back to business. The sold $$ leaders for the month are... a Single Family Home for $3.18 Million at 540 Alameda Court. For Condos, Cozumel 1601 closed for $1,750,000 (nice view) and for Vacant lots, 794 South Barfield Drive closed for $2,550,000 in the Estates section. 

For you bargain hunters out there, a Single Family Home at 357 Third Ave . closed for $270,000.  A Condo in Seabreeze West unit G8, closed for short money at $99,000 and a Vacant lot at 1432 Leland Way closed for $100,000 (purchased by a Realtor) -  Again, there really is something for everyone here on Marco Island.

As always, please reach out and contact me if you have any real estate questions or want to take me and my first wife out to dinner.

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

Picasso of Andy and Willy

Marco Island Real Estate Statistics and Comments - First 6 months of 2017 vs 2016

The following statistics compare the first 2 quarters of 2017 to 2016

Sold Single Family Homes UP 21% (229 vs. 190)

Sold Condominiums UP 8%  (303 vs 280)

Sold Single Family Vacant Lots UP 43% (80 vs 56)

Average Sale Price Single Family Home UP .23% ($972k vs $969k)

Average Sale Price Condominium UP 9% (($544k vs $497k)

Average Sale Price Single Family Vacant Lot UP 4% ($589k vs $566k)

Total Dollar Value of all Single Family Homes Sold UP 21% ($222M vs $184M)

Total Dollar Value of all Condominiums Sold UP 18% ($165M vs $139M)

Total Dollar Value of all Single Family Lots Sold UP 49% ($47M vs $32M)

Current Inventory:

325 Single Family Homes (DOWN 6% from 2016) 

362 Condominiums (UP 8% from 2016)

302 Single Family Lots (DOWN 12% from 2016)

Summary:

$437 MILLION  dollars worth of Real Estate closed in the first 6 months on Marco Island which is almost half way to $ 1 B-I-L-L-I-O-N  Dollars (think Dr. Evil from Austin Powers, photo below) That's a 22% INCREASE when comparing this year to last; folks talk about making it rain commissions. For the faithful 7.6 readers that can't wait to read this each month, I have to tell you that the streak of $80 Million Dollar sales months ended at 3 because in June we only sold $75 Million worth of properties here on little ol' Marco. When I find the Realtors that were slacking in June I'm gonna throw them a beating. Just to be a sport, I was going to buy a $5 Million property on the last day of the month to keep the streak alive, but Barbara reminded me that we are saving up for her verticle transition surgery. (The doctors swear they can get her to 5'2") She does need some bone grafts so I have graciously agreed to donate some of my nose. 

Looking at all the green numbers upstairs proves just how great Marco is and why all the smart, tall, good looking people want to live here. And, if you are not smart, tall or good looking and you buy a property on Marco, your self-esteem will soar and you will actually begin to think you are getting smarter, taller and much better looking. Your friends up north will notice the difference and ask you if you're working out, or if you're taking some sort of supplement. This will make you feel good about yourself and you will begin to work smarter, not harder, and make more money. With more money, you will buy a better property on Marco and you will feel EVEN smarter, taller and better looking.  Ah, you ask for the science behind this phenomenon. This all goes back to when Ponce de Leon was looking for the fountain of youth in Florida. Old Ponce made one mistake in his calculations, it takes TWO fountains to create youth, along with smartness, tallness and good lookedness (a Gerry word). After a few hundred years some already smart, tall, good looking Marcoites built those two fountains, one over in Veterans Park and one at Residents Beach, then lo and behold all the Marcotonians started their transformation. Once we build the third fountain bald men will start to grow hair and the ladies will get whatever they want (within reason).

I have two public service announcements. First, our Lily (a.k.a. Willy) will be getting her driver's license August 1. Second, our Annie (a.k.a. Andy) will become 21 in August and will be getting her drinking license. 

They both did very well in the permit stages of these milestones and hopefully, they do well while fully licensed, bonded and insured. Happy birthdays to you both and if the faithful 7.6 want to send them cards, please address them to me and I will be sure that some of the cash in the envelopes gets to them. 

For all you American League and National League fans, I know you all want to know the monthly high and low sales just like you wanted to know who won the home run derby, yes it was Aaron Judge, so here goes. A home at 1771 Ludlow Road sold for $3,900,000, while a home at 1200 Fruitland closed for $260,000. A condo in Southwinds sold for $124,900, while Veracruz 1203 closed for $2,275,000. A vacant lot at 299 Sandhill sold for $163,000, while 1751 Ludlow Road closed for $3,000,000. Look closely and you see the high home and lot sale are both on Ludlow Road. Well, I have a tear down listed at 1645 Ludlow Road for just $1,299,000 and I highly reccomend it for you investors. Something for everyone... 

If you would like to be put on my daily update list of what is coming on the market, just send me an email and I'll plug you in. 

If you want to take Barb and me out to dinner, don't be shy, just ask!

And remember, I won't 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

Marco Island Real Estate Stats and Commentary for May 2017

The following statistics compare May of 2017 to 2016

Sold Single Family Home Sales UP 9% (47 vs. 43)

Sold Condominium Sales UP 5% (60 vs 57)

Sold Single Family Vacant Lots UP 267% (11 vs 3)

Average Sale Price Single Family Home UP 9% ($991k vs $967k)

Average Sale Price Condominium UP 20% (($593k vs $495k)

Average Sale Price Single Family Vacant Lot UP 74% ($421k vs $242k)

Total Dollar Value of all Single Family Homes Sold UP 12% ($36M vs $28M)

Total Dollar Value of all Condominiums Sold UP 26% ($75M vs $55M)

Total Dollar Value of all Single Family Lots Sold UP 539% ($4.6M vs $726k)

Current Inventory:

340 Single Family Homes (DOWN 6% from 2016

371 Condominiums (Up 3% from 2016)

304 Single Family Lots (DOWN 14% from 2016)

A total of $87 Million dollars worth of real estate closed on Marco Island in May of 2017 compared to $71 Million dollars worth in May 2016. This makes an $80 Million dollar 3-Peat for March, April, and May. This translates into lots of happy Buyers, Sellers, Realtors, Lawyers, Home Watchers, Landscapers, Pool Cleaners, Tax Collectors and the Liquor Stores aren't complaining either. Things are clicking, the stock market is up, interest rates are still down, gas is cheap and Barbs scars are healing up nicely. I don't know if Obama put the wheels in motion, or if Trump is causing all this really, really great stuff to happen, but I hope we can all agree that it beats having crappy markets. Next year we will shoot for a $90 Million Trifecta. 

So, if you look at the numbers above you will see lot sales are up 539% dollar volume wise, 267% units sold wise and 74% average price wise. What the heck is going on with the lots! Well, if you looked back a few months ago at my newsletter you would see that I predicted that lots were heating up and the place to be. A couple of my faithful 7.6 readers heeded the Oracle of Marco's advice and made their moves. Brilliant is all I can say and I still think vacant land is a great investment. I have a few listed and one particular listing in Hideaway is a catch. DISCLAIMER: As I don't have a license to sell securities, technically I don't think I can talk about investments. Therefore, I am adjusting the sentence to read "My friend Vinny Boombats, has a friend, who has a cousin, who knows a guy on Marco, and he said you gotta buy a lot on Marco from Gerry because he said the time is right, and try the pasta over at Ciao Bella, Bada Bing." Now, when Vinny tells you to do something you do it, or bad things could happen. Just saying....

So, we hop in Sue-B (The name of Lily's car for the 7.6 that may have missed it last month) and we head out to visit some colleges up and down the eastern part of this great country. UF, USF, FSU and an FU to the guy that cut us off on route 75. We finally get out of Florida and hit some of the Southern schools in Georgia, Virginia and North Carolina. All beautiful and all great Schools. We end up as far north as New York and then we start to head back. (I went to Penn State but with what's been going on there the last few years, we crossed it off the list) On the way back I did something stupid and thought we should check out Princeton. We walked around and the architecture was highlighted by the setting sun and we all agreed it was the most beautiful campus we had seen. I guess if I donate a few million she might have a chance at getting in. Which brings up the next point, can someone lend me a few million? Or, maybe one of the 7.6 readers went there and is willing to adopt Lily so she can get in as a legacy. And like every month, you start asking yourself what does this have to do with real estate? Here is this months point.  A house sold this year in Naples for $17,700,000 (the taxes are about $130,000 per year). Is it beautiful? Yes. Is the lady of the house tall? Probably. Can you get a beautiful house on Marco for $16 Million less than $17,700,00? Yes. Will it be beautiful? Yes. Will Barb ever live there? No, she doesn't meet the height requirement. (nor can she go on the big rides at the amusement park) As always, I digress. The moral is there are great schools in great towns with great campuses. There are also great schools in great towns that cost a lot less to attend, but in the end, you will get the same thing out of them and that is the key. Marco is a great place, we have homes to fit all shapes and sizes (referring to your budget of course) and when you live here you will be a part of the Marco Island Fraternity. Would it be nice for Lily to go to Princeton, sure.  Is it feasible and/or realistic? Probably not. Can she find a beautiful campus somewhere and get a great education and become a huge success then buy a $20 Million dollar house in Naples? I hope! (I'll even give her a break on the commission)  Annie, her sister, will graduate from the New College of Florida next year and will probably tell me she wants to go to Princeton for grad school... Come on people, help me!

          ------Ultimately, I just want my family to be healthy and happy and I wish the same for all of you!-----

The sold $$ leaders for the month are... a Single Family Home for $4.4 Million at 1711 South Ludlow (asking was $5.5 million). For Condos, Veracruz 1903 closed for $2,520,000 (it was beautiful) and for Vacant lots, 741 Austin Court closed for $2,300,000

For you bargain hunters out there, a Single Family Home at 159 Cyrus Ave. closed for $375,000.  A condo in the age of Aquarius, Unit O3, closed for short money at $108,000 and a Vacant lot at 464 Worthington closed for $78,000! Again, there really is something for everyone here on Marco Island.

As always, please reach out and contact me if you have any real estate questions or want to take Barb and me out to dinner. We are busy saving up for college....

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

Renoir of Annie

Marco Island Real Estate Statistics for April 2017 and Commentary

The following stats compare April 2017 to April 2016 Sold Single Family Homes UP 29% (44 vs 34) Sold Condominiums UP 12% (57 vs 51) Sold Single Family Vacant Lots UP 44% (13 vs 9) Pending Single Family Homes UP 16% (59 vs 51) Pending Condominiums DOWN 32% (48 vs 71) Pending Single Family Vacant Lots UP 113% (17 vs 8) (Pending means it went under contract but has not closed yet) Inventory: 358 Single Family Homes (DOWN 8% from 2016) 410 Condominiums (UP 16% from 2016) 315 Single Family Vacant Lots (DOWN 14% from 2016) Summary: A total of $80 Million dollars worth of real estate closed on Marco Island in the Month of April 2017 - $80 Million dollars worth in March 2017 and $66 Million in April 2016, last year. Back to back $80 million dollar sales months is pretty impressive for lil'ol Marco Island. I wonder what it is that we have here that so many people want? Perfect weather? nah. Great fishing? nah. Golf and Tennis? nah. The best Real Estate newsletter? a strong maybe. More tall women per capita than any other Island? (besides Amazon Island)? could be. Great Happy Hours? Tito's on the rocks please. Our sugar sand beach? possibly. Well, I could go on and on, but the answer is There is Something Great Here For Everyone. And as more and more people find out, they want to be a part of it. Remember, I view Marco as a big fraternity and we all share a common bond. Now, if my faithful 7.6 readers tell two friends, and they each buy here, then those 15.2 people tell their two friends, then those 30.4 people tell their two friends....well you get the idea. It all simply means mo' money for me and my .37 Realtor friends and longer waits at the restaurants because eventually, the whole country will be living here. But I digress, back to the numbers. The $80 million in closed sales represents properties that were put under contract about 30,60, or 90 days ago when we were in the peak season. I'm sure May will have substantial closings as well, but when you look at the pending condo sales above and see the drop from 71 to 48 in April compared to last year, I can see a bit of an easing in the condo market. Also upstairs you can see the inventory of condos for sale is on the rise which further solidifies a bit of a slowdown condo-wise. Why? I think the higher end of the condo market is fine. I think the lower end of the condo market crept up price wise to where folks may not be seeing the attractiveness of the lower priced condos. As time marches on some of these units are getting a bit tired, and when you go into some of them, see the condition, look at the asking price, it's sometimes hard to make the commitment. No, I'm not talking about Barbara. But, at the right price, everything sells and there were over 200 price reductions again in April and hope springs eternal. The third oldest woman in my condo, Lily, will be driving soon and we have been looking at cars for her. Tops on my list is a Subaru Impreza with Eyesight. This car has little cameras that "look ahead" on the road and can stop the car in an emergency and keep you in your lane if you "drift off". It also has a camera and sensors in the rear that "look behind" and will stop the car if you are going to back into something. Lastly, it has sensors that "look sideways" and will alert you if a snowbird is about to ram you. Fortunately, Bentley and Porsche don't have these safety features so I chalked them off our list. As always, about now you are wondering where this is heading and what it has to do with Real Estate. Right?  Well, stick with me. The objective is safety, whether you are buying a car, choosing a wife or buying Real Estate. If you want a safe car, buy a Subaru. If you want a safe wife, I say choose a tall one. If you want a safe Realtor, choose one that can "look behind" in the market and tell you what happened, "look to the side" and tell you what is going on, then "look ahead" and make an educated guess as to what will happen. The object is to avoid having an accident and I'm your Subaru when it comes to that. UPDATE: I was able to strong arm a Subaru dealer and we have leased Lily her first car. She named it Susanne Birdsong, thus giving the car the nickname Sue B. or Subie which Mr. Hall tells me is the Subaru street cred name. And, the second oldest woman in our house finishes her third year of college today, which makes this the BEST DAY OF THE YEAR for Annie. Next year she gets to do her thesis..... For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are a Single Family Home for $3,450,000 at 233 Polynesia Court. For Condos, Royal Marco Point, Beach Cottage 20 closed for $1,500,000 and for Vacant lots, 741 Austin Court closed for $900,000. For you bargain hunters out there, a Single Family Home at 1221 Samoa closed for $343,000.  A condo in Seabreeze South, Unit P8 closed for $104,000 and a Vacant lot at 1903 Sheffield Drive closed for only $77,000. As always, please reach out and contact me if you have any real estatequestions or need advice on your Fantasy Baseball team. 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

Copyright © 2017 Berkshire Hathaway HomeServices Florida Realty, All rights reserved. For those that want to be informed about The Marco Island Real Estate Market Our mailing address is: Berkshire Hathaway HomeServices Florida Realty 900 North Collier Boulevard, Marco Island, FL Marco Island, FL 34145

Marco Island Real Estate Statistics and Commentary for First Quarter 2017

The following statistics compare the first quarter of 2017 to 2016

Sold Single Family Home Sales UP 29% (94 vs. 73)

Sold Condominium Sales UP 24% (140 vs 113)

Sold Single Family Vacant Lots UP 57% (44 vs 28)

Average Sale Price Single Family Home UP 10% ($1.0M vs $917k)

Average Sale Price Condominium UP 10% (($537k vs $488k)

Average Sale Price Single Family Vacant Lot DOWN 5% ($576k vs $606k)

Total Dollar Value of all Single Family Homes Sold UP 41% ($95M vs $67M)

Total Dollar Value of all Condominiums Sold UP 36% ($75M vs $55M)

Total Dollar Value of all Single Family Lots Sold UP 49% ($25M vs $17M)

Current Inventory:

397 Single Family Homes (DOWN 4% from 2016

404 Condominiums (Up 8% from 2016)

320 Single Family Lots (DOWN 14% from 2016)

A total of $196 Million dollars worth of real estate closed on Marco Island in the First Quarter of 2017 compared to $142 Million dollars worth in 2016. Thats-a-nice (said with an Italian accent) rebound from where we were. Thank you for the applause as this is what I predicted. But that was then and this is now, so where are we headed? First, let me mention interest rates, the average 30 year fixed is below 4% again, so for those of you that missed that boat, you can hop back in. Don't miss it again because it may pull away from the dock for good next time. Next, the inventory is backing down a bit and there are still a lot of properties out there that are a bit overpriced, others need some TLC and are priced like they are the Taj Mahal, and to be frank, the pickin's are a bit slim in some markets. Again in March, we saw OVER 300 price reductions across the board and about 15 price increases and we are heading out of the peak busy season. So, when it's all said and done, I'm seeing an easing in the market and I think the sales figures will start to let up. Nothing dramatic, I'm just not seeing increases in my crystal ball. Jane and John Q. Buyer are still out there ready to pounce, they just need a bit more cat-nip to get motivated, or a nice price reduction.

So, I'm driving my imaginary Ferrari with my imaginary Super Model wife over to my imaginary Mansion. When I really get to Pier 81, I get out of my Cadillac with my lovely wife Barbara and we go up to our unit. There I open my imaginary bottle of Louis XIII Cognac which sits next to my real jug of Tito's Vodka. My imaginary sons Andy and Willy ask if I want to go out and toss around the ball, but then Annie and Lily snap me out of my imaginary world and ask if they can take my credit card to the mall for some exercise and then out for Sushi.

I assure you I have a very vivid imagination, and in my mind, I can hear that Ferrari, I can taste that Cognac and I know that Super Model is a biotch. (At least that's what Tom Brady tells me). Anyway, I digress, and you are wondering what the point is and how it relates to Real Estate? Here is the deal, when buying Real Estate sometimes you need to use your imagination. The house or condo you look at may be decorated in the Tommy Bahama goes Mediterranean theme but you can fix that. The walls might be painted a beautiful shade of Caribbean Blue that you hate, but you can paint over that. You can re-model, you can re-paint, you can re-tile, re-build, gut, raze it, or renovate however you please, and create the home of your dreams. One of my famous lines in my soon to be released best-selling book is, "You can fix a house or condo, but you can't fix a view". So people, what I am telling you is, find the right property, look past the warts and dermatological surgery scars and USE YOUR IMAGINATION to create value. The second part of my imagination monolog today is to point out what an opportunity vacant land is as an investment. As it sits there all you do is pay a little bit of tax and get the weeds cut once a month, no hurricane/flood insurance, utility bills or crazy renters to worry about. The Mackle Brothers (talk about guys with imagination) stopped building vacant land on Marco a long time ago and they ain't making any more. In Real Estate there is a slogan that "It all begins with the land" and I agree with that. Contemplate buying a vacant lot, use your imagination and see a new home built on that lot and then start counting your imaginary money after you sell that lot down the road, or build on it and enjoy it....until you die, then the kids sell the house and they get to enjoy the real money. It's a win/win for the whole family. One of my faithful 7.6 readers listened to this advice recently and just signed a contract to buy a vacant lot. He plans to build an imaginary fish camp on it in the future. 

Now, for those of you that have mediocre imaginations here is a way for you to get in the game....Psst, come get a little closer to the screen and listen carefully. If you want in on the ground floor of something, have I got a deal for you. The developer of Pier 81 owns the Hibiscus Golf Course up in Naples. He's decided to build Shadow Creek at Hibiscus which will consist of 9 buildings with 54 units at the entrance to his Golf Course. (He's going to build a pretty high wall around the property to make it a private gated community) He made a wise choice and hired me to sell the condos and if you're interested I can pull some strings and get you a unit starting around $300,000. In this case, you piggyback on his imagination and get the same result. Now, talk about a guy with imagination, developers have huge imaginations, the biggest you've ever seen. In his imaginary world, he probably has his own Jet, is also married to a Super Model and is President of the United States.  

For the faithful 7.6 readers who demand to know: The sold $$ leaders for the month are... a Single Family Home for $2,350,000 at 1285 Martinique Court. For Condos, Riviera 4-629 in Hideaway Beach closed for $1,200,000 and for Vacant lots, 490 (shades of) Gray Court closed for $2,150,000

For you bargain hunters out there, a Single Family Home at 363 Columbus Ave. closed for $280,000.  A condo in Seabreeze, unit A8, closed for short money at $98,000 and a vacant lot at 1873 Dogwood closed for $95,000! As you see, there really is something for everyone here on Marco Island.

As always, please reach out and contact me if you have any real estate questions or want to take Barb and I out to dinner.  Last week JM/LM took us and we had a great evening at La Tavola! Thank you!

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

Marco Island Real Estate Statistics and Commentary for February 2017

The following stats compare February 2017 to February 2016

Sold Single Family Homes DOWN 12% (29 vs 33)

Sold Condominiums UP 19% (43 vs 36)

Sold Single Family Vacant Lots UP 40% (14 vs 10)

Pending Single Family Homes UP 24% (51 vs 41)

Pending Condominiums UP 16% (64 vs 55)

Pending Single Family Vacant Lots UP 200% (12 vs 4)

(Pending means it went under contract but has not closed yet)

Inventory:

401 Single Family Homes (UP 2% from 2016)

412 Condominiums (UP 10% from 2016)

331 Single Family Vacant Lots (DOWN 8% from 2016)

Summary:

A total of $59 Million dollars worth of real estate closed on Marco Island in the Month of February, 2016 (and this was NOT a Leap Year like last year) - $57 Million dollars worth in January 2017 and $53 Million in February 2016, last year. 

Being an avid Rock Climber I understand more than most how important your footing is, you just can't have a slip. Similarly, the Real Estate Market has been slipping a bit and I believe it is now finding it's footing again. (Ok, the only rock I ever climbed was when I stood atop an empty case of Rolling Rock Beer in college at my frat - What a guy, he's from Lambda Chi) If you look above at the Pending numbers all you see is green. In Rock Climbing the green ropes are used to go up, and up is good. The pending sales you see mean those properties will pretty much all end up as closed sales in the coming months and we will have more and more green sales numbers. (Rolling Rock comes in green bottles, so it must be good for you too) As you all know, I correctly predicted that once the Presidential election was won and done, the market would find it's footing. And guess what? That's exactly what is happening. I need to point out that there were 270 price decreases in the month of February which is about the pace we have been seeing each month. But, at the same time the list to sell ratio increased to 92%. This means that, ON AVERAGE, seller's accepted 8% less than what they were asking. All this mumbo jumbo means that the Buyers are willing to buy when the Sellers are willing to sell and they have a meeting of the minds. I had this customer of mine that had about $100 million dollars in the bank. We were trying to sell a condo he owned and he wouldn't negotiate at all when we had an offer. I asked him why and he said that when he died he was going to take all his money with him, but he couldn't take the condo, so he wanted all he could get for it. Guess what? he died and his widow wrote a check for $100 million and put it in the coffin so he could "take it with him". She then sold the condo with me and last I heard she moved to Spain with her chihuahua Esteban. I keep telling you folks, if you want it and can afford it, buy it, if you don't want it, sell it, cause you ain't taking it with you. This logic can also be applied to boats, cars and airplanes or the toy of your choice.

So, I have this loser friend that has been President of a nice condo for years. (What's another name for Condo President? Sucker/Wannabe are the two correct and acceptable answers). Anyway, in spite of him being a total loser, he has this tall, smart, hot wife with porcelain skin and two boys named Andy and Willy (all he ever wanted was a girl baby). To make matters worse, he's a Realtor and only has about 7.6  friends.  Yesterday we were discussing our political affiliations over a glass of nice Chianti, liverwurst sandwiches and fava beans and he said "I read your stupid email once in awhile and I can't tell what you are, Democrat or Republican? I said "it's simple, there’s no such thing as a Republican Realtor or a Democratic Realtor, we just have Realtors on Marco Island.” At that exact moment I looked up at the TV in The Crazy Flamingo, and during his confirmation hearing Judge Neil Gorsuch  pauses, and I swear he looked right through the TV at  me and smiled. 

As far as my customers go, I  love the Republicans, I love the Democrats, and I  kinda like the one  Independent I dealt with once, but he didn't buy anything because he could never make up his mind.

For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are a Single Family Home for $2,635,000 at 997 Aster Court. For Condos, Prince 301 closed for $1,512,500 and for Vacant lots, 1381 Caxambas Court closed for $2,500,000. (asking price was $3,474,000, see what I mean about a meeting of the minds...)

For you bargain hunters out there, a Single Family Home at 385 Tahiti Road closed for $370,000.  A condo in Anglers Cove, Unit B405 closed for $153,300 and a Vacant lot at 1754 Dogwood Drive closed for $65,000. 

When looking at the odd sales prices above I am often asked "why did a property close for such an odd number like the $1,512,500 above?" There is no one answer, but sometimes a seller will say "I want to net X $'s after the commission and estimated closing costs, When you back into their $X you end up with some goofy numbers sometimes. Also, sometimes you play the "Splitzy Game". The Buyer starts at some number, the Seller counters and then you start splitting the difference during an extended negotiation, next thing you know you are at $1,512,500 or some other odd/even number. 

As always, please reach out and contact me if you have any real estate questions or need advice on how to raise successful sons cause I got nothing when it comes to raising the female species. 

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