Marco Island Real Estate Statistics and Commentary - February 2018

The following stats compare February 2018 to February 2017.

Sold Single Family Homes UP 7%  (31 vs 29)

Sold Condominiums DOWN 26%  (32 vs 43)

Sold Single Family Vacant Lots DOWN 50%  (7 vs 14)

Pending Single Family Homes DOWN 6%  (48 vs 51)

Pending Condominiums DOWN 5%  (61 vs 64)

Pending Single Family Vacant Lots UP 8%  (13 vs 12)

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

Inventory:

328 Single Family Homes ( DOWN 21%  from 2017)

362 Condominiums ( DOWN 13%  from 2017)

304 Single Family Vacant Lots (DOWN 9% from 2017)

Summary:

A total of $49 Million dollars worth of real estate closed on Marco Island in the Month of February 2018. $43 Milliondollars last month and $59 Million in February 2017 (last year). Did you ever go to the County Fair or a Carnival in your hometown and there would be a love tester machine? (picture below) You know, the one where you would put your quarter in the machine then squeeze the handle and it would rate your love life? Well, I invented a new Real Estate Meter that you can use in the privacy of your own home or office. I am willing to share it with my faithful 7.6 readers right now, free of charge.  Interested in trying it? If so, here is how it works. First, I need each of you to hold your computer mouse firmly in your hand. Close your eyes tight and say Gerry - Gerry - Gerry - three times out loud and then open your eyes. After you open your eyes the rating shown below in Red will be the "hotness" of the Marco Island Real Estate Market. Ready to try it? Remember now, close your eyes, hold the mouse tightly and say Gerry - Gerry - Gerry - then open your eyes and see the instant results. (Please do this while you are alone as it could be hard to explain if someone was watching, and I don't need any more trouble than I already get from my boys Andy and Willy)

Okay.....Get ready.....Get set..... GO!!!

HOT - Property Values Doubled in 6 Months and you are tall and tan.

PRETTY HOT - Your property sold in less than a year and you are 83% healthy.

MEDIUM - You have an offer on your property, lower than you want, but you take it and move on.

NORMAL - There is no such thing as normal.

MILD - You have an offer on your property, lower than you want, but you pass and the buyer walks.

Cold - You're on your third listing agent & 5th price reduction. You'd give it away but nobody wants it. 

Ice Cold - You got foreclosed on, and your first wife, like mine, was a short nasty woman.

Wow, it works! Years of testing, analyzing women, drinking Manhattans, data crunching and I present to my faithful 7.6 readers the most accurate way to gauge the real estate market in the privacy of your own home. (Speaking of which, I was previously working on a colonoscopy testing mail away kit, but somebody stole that idea. However, I am improving on that concept with a stay at home colonoscopy testing kit that will eliminate the need to mail in your sample. It will work similarly to this real estate test, but I haven't found a satisfactory way to sanitize the mouse after the test.).

As usual, here we go because you are asking "what the heck does this have to do with Real Estate?" and now I am forced to tell you my inner thoughts, and they are, I don't believe there is a "normal" market. There are averages, means, modes, trends, highs, lows, dips, bounces, bumps, hiccups, and all kinds of words to describe the market. And, do you know why we have all these words? Because that's what the market does, it moves, it flows, it changes, it is not static. Is there a normal? I say no. And because I write this, I can say whatever I like. And you know what? - I was only wrong once, and most of you already know her name. So, bear with me here and let me continue this thought. I had a professor once in college that was grading a test of mine. It was a class in human sexuality. I had an essay question where I elaborated, based on first-hand knowledge, on what I thought was "normal", sexually speaking, with people that live in cold climates below the equator. He wrote on the essay, "this is so wrong, it's not even wrong" and gave me an F.  I was sharing this information with my Physics professor, who was a tall woman from Southern New Zealand who was tutoring me. She laughed and told me that my sex ed teacher stole that idea from the famous Physicists Wolfgang Pauli who coined the phrase "not even wrong"  She said the Cliff Notes version was that if you made an argument or explanation that is based on invalid reasoning or speculative premises that can neither be proven correct nor falsified, you are "not even wrong". As an example she said 2+2=22, then we went back to tutoring. 

Now back to the discussion. I stick to the fact that there is no normal, and I clearly explained above that I am not wrong. Put another way, the market is what it is. Today the buyers are finicky like Morris the cat, they are looking for price cuts, they take a swipe at the property then they pounce and go in for the kill. It's got to be just right. That's normal- today. Price cuts are very normal- today. Properties staying on the market longer is normal- today. Changing Realtors when things don't sell is normal- every day. All in all, things are selling right now. I bet March will be a very good month and I'm going to say that April will be really good. If you are looking to sell, check the comps and stick very close to them asking price wise. If you are a buyer, watch the price cuts very closely and be ready.  In number of days challenged February (my car dealer customers know what I mean there)  there were 94 single family home price decreases, 4 increases. 78 condo price decreases, 2 increases. 20 vacant lot decreases and 3 increases. Buyers can wait, or, simply make your offer and see if your Realtor can present an argument to the Seller's agent and justify the offer. The worse thing they can say is NO.  That my dear 7.6 faithful readers is "normal'.

As always, please reach out and contact me if you have any real estate questions or need any advice which can only be given at dinner. Last week, Bob, the engineer, and his lovely wife took us to 21 Spices where we ate, drank, laughed and solved the String Theory Equation over dessert. 

The High and Low Sales for the month of February:

Single family home, 1381 Cutler Court closed for $2,125,000.  Condo, Cozumel 1204 closed for $1,863,000 (normal number) and a vacant lot at 816 Heathwood closed for $975,000. 

For the bargain hunters, a 3 bedroom home at 1299 Apricot closed for $300,000. An efficiency condo at The Aquarius closed for $110,000 and a vacant lot in Hideaway at 608 Waterside closed for $180,000 and that new owner can enjoy the Hideaway Club and amenities.

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 - January 2018

The following stats compare January 2018 to January 2017.

Sold Single Family Homes DOWN 35%  (15 vs 23)

Sold Condominiums DOWN 8%  (35 vs 38)

Sold Single Family Vacant Lots DOWN 17%  (10 vs 12)

Pending Single Family Homes DOWN 27%  (41 vs 56)

Pending Condominiums DOWN 2%  (63 vs 64)

Pending Single Family Vacant Lots EVEN (14 vs 14)

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

Inventory:

312 Single Family Homes ( DOWN 22%  from 2017)

346 Condominiums ( DOWN 15%  from 2017)

298 Single Family Vacant Lots (DOWN 5% from 2017)

Summary:

A total of $43 Million dollars worth of real estate closed on Marco Island in the Month of January 2018. $54 Million dollars last month and $57 Million in January 2017 (last year). Now everyone just settle down, settle down. I know the numbers up top are not exactly what we were looking for but I have some excuses. First one is the cold weather up North. It was so cold for a few weeks that planes were being canceled and the dang geese (a.k.a. Snowbirds) couldn't fly south for the winter. Pence and I consulted with the man upstairs and he agreed to take care of the weather, so, as I write this, I hear it is 65 degrees in New York and this is February.  So that was taken care of.  Now we have this decreasing inventory problem to contend with and that is excuse number two. It is very hard for sales to increase when there is nothing for us poor salespeople to sell. (poor is the operative word here). Now, who's fault is that? Pencey and I again took it upstairs and were greeted with a shrug and a "nothing I can do for you here" answer.  So, for this one, I have to blame the happy tall and tan inhabitants of Marco Island, as it appears nobody wants to sell and give up their piece of the rock. The third excuse for lackluster sales is that combined with low inventory are some high or optimistic asking prices on some properties. I have a customer who's initials are M.O. (his full name is Modus Operandi) and we have been looking around for months for a certain something. There are a few certain somethings out there for the taking (like my first wife), but some have asking prices that are well above the recent sales prices of like units in a building. And in many cases not only is the asking price well above that of the previous sales price of a similar unit in a building, the unit that is now for sale is not nearly as improved as the one that sold for a lower price. In other words, the property for sale now doesn't compare to one that sold recently and they're asking more money for it. So M.O. and I continue on our quest to find him and his tall tan wife a good deal. Lastly, dang Irma is still haunting us as there are plenty of homes waiting on new roofs and what-not before they can close or go on the market.

Now sticking to the subject, the Sellers aren't happy campers (along with the Realtors) because when you see all those red numbers up top in this newsletter that means nothing is selling and Momma isn't happy, and when Momma isn't happy, nobody is happy.  As I may have said in the past, sometimes you need to think like Sigmund Freud to be a Realtor because there are tons of ids, egos, and superegos to deal with in real estate. The average Joe watches enough reality real estate T.V. shows to declare themselves an expert on all things related to the business. Spoiler alert. The people on those shows have the "picked" property either bought or under contract before they start filming.  And regarding the 

fixer-upper/flipper shows "NO, YOU CANNOT RE-DO A BATHROOM ON MARCO ISLAND FOR $6,500 NOR CAN YOU DO A KITCHEN FOR $10,000" Anyway, as usual, I digress. So, you ask what is going to happen? I'll tell you what. I predict prices will start to inch down as the Sellers realize we are in the heart of the season and they decide they don't want to come back next year. Before they throw in the towel, some will try a different Realtor thinking that will help. Some will paint their property or spend a bit of money jazzing things up thinking a little lipstick is the cure. Before you get all hopped up, I get that nobody wants to sell for less than they can get and Buyers don't want to pay more than something is worth, but right now the Buyers are winning the standoff. So, my secret I will share with you is that in the month of January there were 73 price reductions on homes, 2 increases. For condos there were 70 price reductions and 3 increases and for lots there were 31 decreases and 2 increases. That tells me the Sellers are coming to terms with the slow down and acting on it. And being that most everyone down here has a bad back, I don't see this limbo dance going very low.

I was watching the Superbowl with some friends recently. Most were Patriot fans and a couple were Eagles fans. I'm looking at Tom Brady on the T.V. (felt like I was looking in the mirror) and you just feel his confidence. He's a proven winner and you trust he will get the job done. Then I'm looking at Nick Foles who looks like he has an attitude (similar to my first wife) and he makes you nervous and causes you to sleep with one eye open. What is he going to bring tonight?... his "A" game (which is typically a C+) or will he get pulled to start the second half and the poor Eagles fans will have to wait for next season. Well Folesy has nothing to lose and he comes out throwing caution to the wind along with the football (is that a double entendre?). And what happens? The Eagles are the Super Bowl Champions. As usual, you ask "what the H-E double hockey sticks does this have to do with Real Estate?" And here is my Freudian answer. PATIENCE (not patients). The Patriots have won so many Superbowls, Tom Brady's above average looking soon to be ex-wife (and hopefully my next wife) said "sometimes you have to let the other guy win". The Eagles fans are like Buyers, they had patience, stuck by their team and they were rewarded after 147 years of never winning a Super Bowl. The Patriots fans are like Sellers. You can't always win; Brady won 5 and has lost 3. At this point the Buyers appear to be patient and are ready to pounce if a good deal comes along (a great deal is nice, but most people will settle for good). Now the Sellers realize it is the 4th quarter of the game and they are cutting their prices trying to get close to the goal line and hoping for the best. Sometimes you need to settle for getting close and then move on with your life.

Speaking of sports, did anyone hear Fergie sing the Star Spangled Banner during the basketball All-Star game? The only time I've ever heard anything worse is when my boy Andy kept singing The Sun Will Come Out Tomorow from the Broadway show Annie. Couldn't stop the kid from singing that tune for some reason. And as for my boy Willy, he's sitting next to me as I type this, working on some little brain teasers. Here is a word jumble Willy created just for you: NMRSLDCAOIA  First one to solve it and email me the answer gets to take Barb and me out to dinner. Speaking of which, we had 3 nice dinners out last month, thank you.

As always, please reach out and contact me if you have any real estate questions or need bad marriage advice.

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 and Commentary - The BIG 2017 Year End Review

The following MLS statistics compare 2017 to 2016 - Marco Island properties only.

Total Value of All Property Sold on Marco Island UP 6% ($700 Million vs. $662 Million)

Total Number of Sales on Marco Island (All Property Types) UP 3.5% (1,012 vs. 978)

Number of Sold Single Family Homes UP 6% (385 vs. 364)

Number of Sold Condominiums DOWN 2% (469 vs. 480)

Number of Sold Single Family Vacant Lots UP 24% (140 vs.113)

Average Sale Price of a Single Family Homes Sold was $949,000 UP .35% from $946,000

Average Sale Price of a Condominium Sold was $545,000 UP 4% from $522,000

Average Sale Price of a Single Family Vacant Lot was $524,000 DOWN 2% from $533,000

The overall List to sell Ratio was 93.04%. This means that on average properties sold within 6.96% of their asking price. Put another way, the average sale price was negotiated down 6.96% from the asking price.  

Average days a sold property was on the market INCREASED  from 172 days to 181 days.

This means properties took 9 days longer to sell. (In this case, the GREEN is bad)

Current Inventory of Single Family Homes is DOWN 24% (286 vs.375) 

Current Inventory of Condominiums is DOWN 15% (326 vs. 384) 

Current Inventory of Vacant Single Family Lots is DOWN 8% (282 vs. 308)

State Of The Real Estate Market Address

2017 was another banner year for the Marco Island Real Estate market (and it's Realtors) with $700 million dollars worth of property changing hands. Had it not been for Hurricane Irma who knows how much more would have sold!  Every year my faithful 7.6 readers wait to read this State Of The Real Estate Market Address because they are not so much interested in looking in the rear view mirror as looking out the windshield to see where I think we are headed.  Everyone that knows me well, knows I was only wrong once in my life, and my first nasty troll wife is living proof of that. Anyway, 2016 finished off soft because America was riveted by the Presidential debates and election and no one was taking time out to buy real estate. Once we got the election behind us and everyone's focus shifted back to getting a little piece of Paradise, we were back on track and momentum was building in the market for 2017. Then Irma came to town and we were derailed again. After a few months of putting Humpty Dumpty back together again we are again looking forward. Now, the stock market has been skyrocketing for the past few months and I am seeing and hearing about folks cashing in some shares of Tesla (or whatever) and securing themselves a nice piece of good old solid Marco Island. However, an Island is only so big, and there is only so much to go around and we are starting to hit a bump in the inventory or number of properties for sale. You all know my penchant for tall women, and just like property, there is only so many of them to go around and sometimes you have to settle for something that might not be exactly what you wanted, you know the old saying "you get what you get". Now, I am a settler and again I point to my first wife to prove that point. PAUSE: For those of you that have never read my newsletter you think I'm rambling, but my 7.6 faithful readers know there is a moral hidden as it relates to the Real Estate market and here it is. UNPAUSE. As I stated, the inventory is way down and that means there are fewer properties to pick from. When there are less to pick from, the choosy type of buyers will not settle and will wait for something better (or taller) to come along. Sometimes it comes along, sometimes it doesn't. Sometimes it comes with a big price tag, sometimes it is cold and lacks soul, but you buy it (or marry it) anyway. Sometimes you can buy one that needs work and turn it into something more robust than it was before and learn to love it. A good contractor can do miracles with a bit of silicon and a nip or tuck here or there. And as I tell my boys, Andy and Willy, marry for money, not love, because when the love is gone, the money is still gonna be there. Regardless, right now the inventory, or lack there of, is the problem. People are running around with crazy money to spend/invest and it is slim pickings out there. Also, last year I was ranting and raving about vacant land and telling you smart folks that under all buildings, lays/lies the land. Last year the number of lot sales was up 24% and if you factor in how many tear downs were sold the number is actually higher. Listen folks, like I have said before, if you already own a home or condo and have some cash laying around, buy land, invest in land, land bank, whatever you want to call it, just get some cause they ain't making any more of it. Looking further down the road for this year.... as for homes and condos here on Marco, I think the high-end market will continue to be strong because the rich are getting richer and the biggly tax reform is going to get the heavy hitters all fired up to buy. Now I know William Devane is telling you FOX Channel watchers to invest in silver on T.V. with Rosland Capital, but I disagree. Give me some good old dirt any day of the week. Now you CNN'ers are laughing at that while you slather Blue Emu on your aching joints because Johnny Bench tells you it works. Can't we all just get along? Getting back on point and delving further, I think the mid-range homes and condos will continue to be steady and I think the low end will really start to move up in appreciation. You can still get a condo on Marco in the $100,000 range, however I think those properties will soon become unicorns and only be a fantasy. BUT, you have your chance now to buy on the cheap, find a renter that doesn't set up a meth lab, maybe renovate it a bit and flip it in a few years with a handsome profit.  Come to think of it -- maybe that is a Realtor fantasy?

Anyway, let's talk about Politics and Religion here for a minute. Okay, let's not. I would say that I personally respect everyone and their opinions/beliefs. If you want to know the correct answers to all of life's questions, I encourage you to invite Barb and me to dinner and I will be more than happy to answer them, factually and in totality. You will have no further need to go on Facebook searching for the truth. In the meantime lets get ready for the Super Bowl and enjoy life for a moment.

I still will not be out thought or out fought when it comes to Real Estate.

Call, email or text with Real Estate questions and/or dinner invitations. 

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

Place your bets!

Marco Island Real Estate Stats and Commentary November 2017

The following statistics compare November of 2017 to November 2016

Sold Single Family Homes DOWN 25% (21 vs 28)

Sold Condominiums UP 33% (28 vs 21)

Sold Single Family Vacant Lots DOWN 71% (4 vs 14)

Pending Single Family Homes  UP 22% (39 vs 32)

Pending Condominiums DOWN 19% (38 vs 47)

Pending Single Family Vacant Lots DOWN 11% (8 vs 9)

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

Inventory:

291 Single Family Homes (DOWN 20% from 2016)

325 Condominiums (DOWN 17% from 2016)

280 Single Family Vacant Lots DOWN 11% from 2016)

Summary:

A total of $52 Million dollars worth of real estate closed on Marco Island in the Month of November 2017. $48 Million dollars last month and $43 Million in November 2016 (last year). We had some whoppers close this month (which you will have to wait until the end of this report to read about) which pushed the gross sales and average sales price way up. As discussed in earlier newsletters we have properties closing now that were delayed by the hurricane and our numbers are looking a bit like a skinny guy in a stuffed Santa suit. Ergo, they look good, but there is a bit of fluff in there.

My 7.6 faithful readers are now worried that their sugar plum Real Estate Market (what is a sugar plum anyway?) isn't dancing like it was through their heads. And to this, I say Bah Humbug! Things are fine. But I am always honest with the 7.6 faithful and I have to say I looked at the Christmas Season sales past, present and I will now predict the future, and I see a slow down of sorts for the next few months. Why? I'll tell you why -- inventory. The number of properties for sale keeps dwindling because Marco is so great; why would you want to sell unless you are upgrading to a better property? Another problem is that four letter word IRMA, and here is how she still affects us: Why just today I was showing 2 beautiful beach front condos to some past customers of mine. Years ago when their kids were small they bought a 2 bedroom. Now Ralphie (who wears an eye patch) and Randy don't want to share a bedroom so mom and dad are looking for a 3 bedroom. We took a look at 2 units in one building and what to our wondering eyes should appear, but some drywall that showed rain was here. The workers are working feverishly to get things buttoned back up and it will be better than new when done, but in the meantime, my customers would prefer to sit back and wait until the work is complete before they commit. (Ironically the Mr. here is in the waterproofing business, go figure). Now there are dozens of units on Marco that are currently on the market in this state of flux and I tell you that once they are all squared away the buyers are going to jump on them. Also, a few condos will require that all the windows in units be replaced with hurricane glass and while this will take some of the cheer out of the holiday money for the current owners, it will add value to their units once done. There are also quite a few homes that are awaiting new roofs and once they get them they will be scheduled to close.

The New Year is almost upon us, and being Jewish, this is my chance to make an annual confessional to whoever/whomever will read this. In short, I've got a few things I would like to get off my chest so I can start this year off with a clean slate. To my first wife, I'm pretty sure I could not have treated you any better and I'm sorry if you disagree....well, maybe I could have been a little nicer. To my favorite children Andy and Willy, you do nothing but make your mother and me proud. To my second favorite kids Annie and Lily, you are becoming more like Andy and Willy every day and we know you will catch up to them soon. I'm sorry to myself for cheaping out this year and buying a bottle of Canadian Club to make my Manhattans instead of Crown Royale. Note to self, never do that again. I'm sorry I don't get enough sleep and I exercise too much. (I might have that one backward). I'm sorry that Irma came to town, but the roofers sure aren't. I'm sorry I sold some of my Apple stock before it hit a record high. I'm sorry I cursed 3 or 4 times........in the past 5 seconds. I'm really sorry I don't have more past customers like JCS who treat Barb and me to a lavish dinner every year. I'm sorry for my freestyle punctuation. I'm sorry for....uh, nope, that's it, it was a boring year. 

With that off my chest, you ask, as always, "what does this have to do with Real Estate?" and true to form I will tell you. The past is the past and you can't change it, but the future is ours to see. And in your future I see you buying that dream home, condo or lot on Marco Island. I see you finally being happy and relaxed. I see your years of work, toil, scrimping, saving and suffering all coming together in the one magic moment when you stand on Residents Beach and see a Green Flash for the first time. (If you don't see it you're not drinking enough) Sure, you could have sent your kids to a private college, but you were fiscally smart and sent them to a State University and now you have money to play with. True story here: My grandmother once told her friend I was at the State Penn and I would get out in about 4 years. At the time, I was really an undergrad at Penn State. But I digress, listen folks, look around Marco and see how much happier people are here compared to, say, Nome, Alaska. We get 23 hours of sunshine each day while they get polar bears and stuff like that. And if you're not buying a piece of this, for some of you, I see me selling your home, lot or condo here on Paradise (if we price it right). And if I can't sell your property I give you these words. "It is great to be the first born, the second wife, and the third listing agent."

I wish you all Health, Peace, Love, and Happiness in 2018.

For the faithful 7.6 readers who beg to know each month's high and low sales, here you go: The highs for the month are... a Single-Family Home for $8.5 Million at 1440 Caxambas Court and another for $4.35 Million at 316 Seabreeze. (I should have married for money the first time.) For Condos, Belize PH2402 closed for $3.5 Million and Madeira 503 closed for $3.2 Million. For Vacant Lots, 350 Seabreeze closed for $3.625 Million. That is some serious coin folks.

For you bargain hunters out there, a Single Family Home at 372 Third Street closed for $274,800. In Condos, we have Seabreeze South M-8 closing at $112,500 and a Vacant Lot at 685 Sixth Street closed for $80,000. It bears repeating, we really have something for everyone including tall women. 

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. 

I still await the dinner invitations. 

CLICK ON THIS LINK TO GET INTO THE SPIRIT OF THE SEASON

https://www.youtube.com/watch?v=VZC3WB4S0n8&list=RDVZC3WB4S0n8&t=56

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 October 2017

The following statistics compare October of 2017 to 2016

Sold Single Family Homes UP 4% (26 vs 25)

Sold Condominiums UP 38% (29 vs 21)

Sold Single Family Vacant Lots DOWN 14% (6 vs 7)

Pending Single Family Homes  UP 43% (33 vs 23)

Pending Condominiums  UP 3% (33 vs 32)

Pending Single Family Vacant Lots DOWN 50% (9 vs 18)

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

Inventory:

289 Single Family Homes (DOWN 13% from 2016)

329 Condominiums (DOWN 11% from 2016)

280 Single Family Vacant Lots DOWN 14% from 2016)

Summary:

A total of $48 Million dollars worth of real estate closed on Marco Island in the Month of October 2017. $22 Million dollars last month and $47 Million in September 2016 (last year). Always one for full disclosure, some of the sales this month were postponements caused by Irma from last month. HOWEVER, I would like to point out the pending sales in October for Homes and Condos that went under contract after the storm were at a pace AHEAD of last year. Ding Dong Irma is gone.

Now, my faithful 7.6 readers hang on almost every word I type, so I would now like to draw your attention to the inventory numbers above. They are down for homes, down for condos and down for lots... But, all Collier County property owners just received a nice letter from the tax assessor mentioning their Real Estate taxes and that often triggers many to put their properties on the market so inventories should start to creep up. Why?, because the taxes are SO LOW around here these folks want to move somewhere else where they can pay higher taxes and feel good about themselves for helping fill the coffers of some poorer county or state. My 7.6 faithful kinda like the idea of low taxes and tall Manhattans. That makes it hard for me to get my past buyers to sell unless they want to upgrade so they can have the joy of getting a bigger tax break. Smart, smart, smart.

Do you all know the book "A Christmas Carol - by Charles Dickens"? Do you remember the first 2 sentences? If not here they are "Marley was dead, to begin with. There is no doubt whatever about that." Now, I ain't no Charles Dickens, but you don't see me starting my newsletter with that kind of negativity. (Obviously, Dickens could never write with my flair.) And now, on cue, my faithful 7.6 readers ask "what does this have to do with Real Estate on Marco Island?" I'll tell you what, don't be like Jacob Marley. He is Scrooge's deceased business partner, now a chained and tormented ghost, doomed to wander the earth forevermore as punishment for his greedy, selfish and uncaring attitude towards mankind. Had he purchased a home, lot or condo on Marco Island, his whole attitude would have changed and he would have lived a long, healthy prosperous life with his very tall and tan wife. Also, you need to keep Ebeneezer Scrooge in mind and realize it's never too late to change your ways and part with some of the money you salted away. If you love where you live, life can be better for you, and your favorite Realtor. Why, if I had a great year I would consider buying my two favorite children Annie and Lily their own properties as a future investment. That might get them to stop calling me Scrooge. (now where did I put that coal?)

We all know it is the holiday time of the year and Barb and I are loosening our belts in anticipation of all the great dinner invites we are going to receive. Why, just a few weeks ago, JW and Mary had the pleasure of buying us dinner at Ciao Bella and as far as I am concerned, I swear they had one of their most jovial nights out in a long time. I encourage all of you to experience the joy and pleasure of the Barb and Gerry show which includes a no holds barred discussion of my first wife along with my second favorite children Andy and Willy.

And, as an added special treat this month I wish to include the lyrics to a little ditty I wrote. To begin with I need you to start singing in your head the tune for the 12 Days of Christmas song. You know, On the first day of Christmas my true love gave to me, da dada da, hum humhum hum and you know how it goes. Now keep that tune a going and sing out loud and proud the following lyrics for the newest Marco Island Christmahanakwanzika song.

On the first day of Christmahanakwanzika,

my true love sent to me

A Home on Partridge Court, Marco Island.

On the second day of Christmahanakwanzika,
my true love sent to me
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the third day of Christmahanakwanzika,
my true love sent to me
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the fourth day of Christmahanakwanzika,
my true love sent to me

4 Burrowing Owls

Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.
On the fifth day of Christmahanakwanzika,

my true love sent to me
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the sixth day of Christmahanakwanzika,
my true love sent to me
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the seventh day of Christmahanakwanzika,
my true love sent to me
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the eighth day of Christmahanakwanzika,
my true love sent to me
Eight Manatees a-milking,
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the ninth day of Christmahanakwanzika,
my true love sent to me
Nine Stone Crabs cracking,
Eight Manatees a-milking,
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the tenth day of Christmahanakwanzika,
my true love sent to me
Ten Tarpon a-leaping,
Nine Stone Crabs cracking,
Eight Manatees a-milking,
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the eleventh day of Christmahanakwanzika,
my true love sent to me
Eleven Golfers golfing,
Ten Tarpon a-leaping,
Nine Stone Crabs cracking,
Eight Manatees a-milking,
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
And a Home on Partridge Court, Marco Island.

On the twelfth day of Christmahanakwanzika,
my true love sent to me
Twelve Customers a-buying,
Eleven Golfers golfing,
Ten Tarpon a-leaping,
Nine Stone Crabs cracking,
Eight Manatees a-milking,
Seven Snooks a-swimming,
Six Tennis Players a-playing,
Five Golden Sunsets
Four Burrowings Owls,
Three French Restaurants,
Two Gopher Tortoises,
AND A HOME ON PARTRIDGE COURT, MARCO ISLAND.......

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 $7 Million at 188 South Beach in Hideaway. For Condos, Veracruz 2101 closed for $3.3 Million. For Vacant Lots, 1425 Butterfield Court closed for $1,600,000.

For you bargain hunters out there, a Single Family Home at 1245 North Collier Blvd closed for $271,000. In Condos, we have Aquarius A-3 closing at $133,000 and a Vacant Lot at 104 Covewood closed for $76,000!

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. 

I still await the dinner invitations. 

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

Even Santa now comes to Marco during his off-season. 

That Rudolph is still the runt and I hope Santa "picks up" like a dog owner would.

Marco Island Real Estate Stats and Commentary September 2017

The following statistics compare September of 2017 to 2016

Sold Single Family Homes DOWN 58% (14 vs 33)

Sold Condominiums DOWN 51% (17 vs 35)

Sold Single Family Vacant Lots UP 63% (13 vs 8)

Pending Single Family Homes DOWN 70% (13 vs 43)

Pending Condominiums DOWN 64% (9 vs 25)

Pending Single Family Vacant Lots EVEN (6 vs 6)

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

Inventory:

296 Single Family Homes (DOWN 7% from 2016)

326 Condominiums (DOWN 7% from 2016)

286 Single Family Vacant Lots DOWN 13% from 2016)

Summary:

A total of $22 Million dollars worth of real estate closed on Marco Island in the Month of September 2017. $39 Million dollars last month and $48 Million in September 2016 (last year). For the trailing 9 months we are at $546 Million this year compared to $509 Million last year, so things were moving along very nicely until Irma came to town. 

Now, my faithful 7.6 readers have been hearing me us the acronym I.R.M.A. for years and years and they know what it stands for I Recommend Marco Always. Nothing can cure all sorts of problems like owning a piece of Paradise. Bad complexion? Buy a lot. Putting on a few extra pounds? Buy a condo. Spouse ran off? Buy a house on Marco, have a big party and find someone new to torture you. I'm telling you this stuff works.

Why, when I moved here with my first wife things were dicey between us, but when I offered her a one way ticket back to New Jersey the problem was solved and I have been 87% happy since. Thanks Marco!

This is a fantastic time of the year for sports aficionados. Baseball, Football, Basketball, and Hockey are all going on at the same time. And, as always, you ask "what does this have to do with Real Estate"? I'll tell you what, it comes down to choice. Some of you love the Dodgers, some of you love the Patriots, many of you love the Canadians and I love the New York Knickerbockers all by myself. Just like in Real Estate you have choices. Big homes, small condos, direct access lots or whatever, we have choices and NOBODY is wrong in what they choose. If it makes you happy, that is what counts. But, you gotta buy something and get in the game! (For all you fellow Penn State alumni out there, I feel your pain and would like to announce that I will be working on an online degree from Ohio State to avoid future embarrassment)

Back to the numbers now, okay? Irma put a damper on things and we have a lot of bloody red numbers up top. Bad, but not terrible. The world as we know it on Marco did not come to an end. As a matter of fact, now that most of the trees have been righted and are starting to grow new foliage they look just lovely. The City is doing their best to clean up the debris on the sides of the roads and life as we know it is very close to being back to normal for many residents. Certainly, there are some condos and homes that will take a while longer to be normal, but in many cases, they will be better than before. For instance, a few of the older condos that had window damage will have broken windows replaced with state of the art hurricane glass. That will add to the value of the property and give the old/new owners peace of mind. If for some reason you are reading this and are dealing with another Realtor buying a condo, please be aware of future loss assessments; you may want to work that into the deal. 

I will give you a little peek into next month and tell you October will have over $40 MILLION in closed sales which will further quell the Irma rumors. Also, next month, for my intellectual readers, I hope to have my proof ready that will show how I ingeniously applied the Pythagorean Theorem to Real Estate. Instead of using the three sides of a right triangle to show that the square of the hypotenuse (the side opposite the right angle) is equal to the sum of the squares of the other two sides, I shall use the 3 main facets of Real Estate: Homes, Condos and Lots to prove that that if you buy 1 home and 1 condo that is equal to 2 lots. I am consulting with my daughter Willy on this one and we are close to an answer. I would also like to report that our other daughter Andy hosted us for lunch at The New College of Florida where she is the Assistant Manager at the Four Winds Cafe on Campus. We ate nothing made of animal or dairy and survived. 

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 $1.335 Million at 770 Partridge Court. For Condos, Somerset 814 closed for $1.250 Million. For Vacant Lots, 131 Channel Court closed for $490,000.

For you bargain hunters out there, a Single Family Home at 1195 Sunbird closed for $355,000. In Condos, we have Southwinds B3 closing at  $100,000 and a Vacant Lot at 1895 Sheffield closed for $50,000!

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. 

I still await the dinner invitations. Barb and I did have one invite that we accepted a few weeks ago and the dinner at Marek's was great!

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 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