Marco Island Real Estate Stats and Commentary September 2018

The following statistics compare September 2018 to 2017

Sold Single Family Homes UP 43% (20 vs 14)

Sold Condominiums UP 129% (39 vs 17)

Sold Single Family Vacant Lots DOWN 23% (10 vs 13)

Pending Single Family Homes UP 85% (24 vs 13)

Pending Condominiums UP 133% (21 vs 9)

Pending Single Family Vacant Lots DOWN 33% (4 vs 6)

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

Inventory:

261 Single Family Homes (DOWN 16% from 2017)

309 Condominiums (DOWN 7% from 2017)

286 Single Family Vacant Lots DOWN 1% from 2017)

856 Total - Not much!

Summary:

A total of $40 Million dollars worth of real estate closed on Marco Island in the Month of September 2018. $56 Million dollars last month and $22 Million in September 2017 (last year). For the first three quarters of 2018 we are at $563 Million compared to $546 Million for the same time period last year which is a 3% increase. Interestingly enough, the average sale price is up 3% during the same period. This month there were 3 single family home sales over $2M and 4 over $1M. The high-end market remains strong. As an aside, I had a preview of the inside of the new tower the Marriott built and it is simply amazing. I imagine plenty of cold folks will come spend a night or two and end up falling in love with our island and become future Marconians. 

Now, my faithful 7.6 readers are looking at the above numbers and seeing some big green figures and turn to me to interpolate things in my own way. Well here goes. Ever been through a bad breakup or divorce? When you are in the moment things are pretty bad, but as they say, time heals all wounds and your memories of that no good cheating blankety-blank begin to fade. Well in this case, the no good blankety-blank was Hurricane Irma. She threw a hurting on the Real Estate Market and things really came to a halt last September. But ya know what? She ran off with Hurricane Michael and hopefully they never return. Things here on Paradise are 98.44% back to normal and the market is too. As the "season" approaches I am predicting the Real Estate market will remain very healthy, but we have to keep an eye on the upward creeping interest rates. While over 60% of our deals are cash, rising interest rates could keep a rein on the market with lenders looking at things with a more stringent approach.

So, the reason I am a little late with the newsletter this month is that my current wife and I celebrated our 25th wedding anniversary. (pause for applause)  As usual, I received a lovely card from my first wife honoring our anniversary and it was filled with some lovely quotes such as "Silver means honoring twenty-five years of caring and sharing and teamwork". "Silver means coming so far and yet knowing the best years have just begun".  My current wife read the card and said "what does silver mean to you?" and after much thought, I replied "second place". 

Speaking of second place, Guido Kratschmer represented West Germany in the 1976 Olympics in the Decathlon which had Caitlyn Jenner (a.k.a. Bruce Jenner) win the gold medal while Guido won the silver medal. I met Guido at an Italian/German bar not long ago and asked him why he had recently turned to a life of drinking. His reply in an Italian/German accent was "it hadda beena badda enough all zee years having to live wit zee fact dhat I came und second in zee Decathlon, and now I find out I lost tu-a woman". (go back and read it slow a few times. It was hard for me to understand him too.)

By now you are wondering "what does this have to do with Real Estate" and I will tell you.  We have two things to think about this month. The first is commitment. Choosing the right Realtor is like a marriage, it has it's ups and downs and rough patches, but you need to try and work things out because typically another one isn't any better. Communication is the key, but in case of a fight, I do try to avoid the makeup part with my customers. (wink wink). I have a good friend HP who called me regarding my 25-year commitment and said "big deal - I've been married over 40 years" to which I replied: "Yes, but to 3 different women". So, for most of you, I hope I am the one Realtor that can get the job done, but I understand for others, sometimes one isn't enough. The second precept this month is coming in second place. Sometimes in Real Estate you don't win and get exactly what you want. You may pay a little more, or get a little less. Not every deal is/has a flat out winner, but coming close isn't too bad. And ultimately, you need to remember you did better than the person that had the other Realtor and got Bronze...

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 $2.55M at 161 Beach Dr. in Hideaway. For Condos, Cozumel 903 closed for $1,610,000. For Vacant Lots, 226 Edgewater Ct. closed for $625,000.

For you bargain hunters out there, a 3 bed/2 bath Single Family Home at 1301 Riverhead Ave. closed for $305,000. In Condos, we have a 1 bedroom Marco Villa closing at  $122,500 and a Vacant Lot at 1872 Dogwood Dr. closed for $55,000!!!!!

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. 

Barb and I are open to anyone that wants to take us to dinner so we can share the secret of our 25 years of bliss.

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 2018

The following statistics compare August of 2018 to August 2017

Sold Single Family Home Sales UP 7% (31 vs. 29)

Sold Condominium Sales UP 30% (35 vs 27)

Sold Single Family Vacant Lots DOWN 43% (4 vs 7)

Average Sale Price Single Family Home UP 60% ($1.1M vs $660k)

Average Sale Price Condominium UP 4% (($622k vs $595k)

Average Sale Price Single Family Vacant Lot DOWN 38% ($226k vs $491k)

Total Dollar Value of all Single Family Homes Sold UP 72% ($33M vs $19M)

Total Dollar Value of all Condominiums Sold UP 72% ($22M vs $16M)

Total Dollar Value of all Single Family Lots Sold DOWN 68% ($1.1M vs $3.4M)

Current Inventory:

252 Single Family Homes (DOWN 24% from 2017)

302 Condominiums (DOWN 14% from 2017)

275 Single Family Lots (DOWN 6% from 2017)

829 Total

A total of $56 Million dollars worth of real estate closed on Marco Island in August of 2018 compared to $39 Million dollars worth in August 2017. Folks, that is a lot of Real Estate for the middle of the summer and this is remarkable for this time of the year. This is little old Marco Island and it is summer time, what in tarnation is going on? I did some stomach crunches along with some number crunching and besides my 3 pack abs I came up with the following simple realization...some more smart folks decided to call Marco Island home. The high-end single-family home market seems to be on fire and one reason is that we are still a fraction of the price of waterfront homes in Naples. One home on the beach in Hideaway sold for $6.5 MILLION and 8 other homes sold for over $1,000,000 and 2 sold for over $2,000,000. If you want sticker shock, let me price a comparable homes for you on the beach or a waterway in Naples. A Penthouse in the Belize sold for $4,650,000 and 2 other condos sold for over $1,000,000. What is happening in the high end of the market is simply unprecedented for this time of the year. Again, Marco Island still represents a great value for those seeking Florida property combined with a fantastic lifestyle, and the numbers back this thought up.

My first wife called me last week and said: "we need to get together and talk". When the first wife asks for a sit-down, it usually involves money, "our" kids, or both. I must also say that the term "our kids" always triggers me because Andy, our eldest, and our old mailman share the same shade of red hair, but that's another story. Fortunately, Andy graduated college and got a real job and Willy is a senior in high school focused on attending The University of Florida next year, so I figured talking about them was off the table as they are all good. That left money as the proposed topic and last time I saw the first wife she asked me to fund her dream of becoming a Yoga instructor, which I willingly did, thinking it would keep her away from me as I hate Yoga. Well, it turns out she surprised me this time and she actually arranged for us to take a guided Kayak tour through the back bay and mangroves.  She said we needed to take a little time out of our busy schedules and do some soul-searching. Now, neither of us had ever rowed a boat, let alone been in a kayak, but hey, I gave her some of the best years of my life and I figured she owed me a nice day on the water. So, very civilly, we met at the boat launch and after a 2-minute lesson from the guide, we were paddling away in a two-person kayak named the "Minnow" on a three-hour tour. The weather started getting rough and the tiny kayak was tossed, but not for the strength of my lower back paddling, the kayak would have been lost. After a typical Marco Island 5 minute rainstorm, the sun came out again and back to paddling I went. We followed the guide through some narrow mangrove passes, we learned some history about the area we never knew and were captivated by the beauty we saw as we were now immersed in Nature. As I paddled, the guide led short classes in marine biology, weather, astronomy, physics, comic theater, zen and ornithology (not to be confused with mixology or the science of making a Manhatten). On the row back, which is about 1 mile and took me about 14 hours, I learned why they call the two-person kayaks "divorce" kayaks. I was the only one rowing, we were out of water, it was 99 degrees, the humidity was 8,000 percent and when we docked #1 said: "wasn't that fun?!"

Now my 7.6 faithful readers who have been reading this know somewhere hidden in the words above there is a correlation to the real estate market, and here it is. People NEED to live here. People WANT to live here. People will PAY crazy amounts of money to live here and these folks are coming here to experience everything Marco has to offer. For those of you already living here, you are probably not taking full advantage of what we have available to us every single day, but the folks that just spent $56 million should be a reminder as to what brought you here.  Luckily, because we are still breathing, every once in a while we can all take a step back and stop and smell the rose in blum. My first wife lost her dad this month and that time on the water gave us both an appreciation for what we have. Don't forget why you moved here, get out and enjoy it before it's too late. If kayaking isn't your thing, then go out for a nice dinner, or go golfing, or boating or whatever gets your juices flowing, just get out there and enjoy life on Marco. If none of this interests you any longer, than just like a good divorce attorney, I can help you get rid of your problem for a reasonable fee.  And as a public service announcement, if you are happily married, never ever, ever, rent a two-person kayak or you will find out why they call them "divorce" kayaks. 

Now, back to business. The sold $$ leaders for the month are... a Single-Family Home for $6.5 Million at 996 Royal Marco Way, on the beach in Hideaway. For Condos, Belize Penthouse 2504 closed for $4.65 Million and for Vacant Lots we had a tie at $375,000 for 1071 Dana Court and 235 Edgewater Court. Over 10 large right here folks.

For you bargain hunters out there, a Single Family Home at 1234 (my password) Jamaica Road closed for $345,000.  A Condo in Coquina Gardens unit 201, closed for short money at $112,001. Re-read that last number, One Hundred Twelve thousand ONE dollar. I love this guy because he squeezed them for the extra buck!  Lastly,  a Vacant Lot at 397 Beach Lily in Hideaway closed for $119,000. It is pretty cool that one person spent $6.5 Million to be Hideaway and another spent $119,000 and they both get to enjoy the club equally.  There truly 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

Me passed out from rowing, while #1 is basking.

Marco Island Real Estate Stats and Commentary for July 2018

The following statistics compare July of 2018 to July 2017

Sold Single Family Home Sales  DOWN 15%  (28 vs. 33)

Sold Condominium Sales UP 10% (33 vs 30)

Sold Single Family Vacant Lots  DOWN 53%  (7 vs 15)

Average Sale Price Single Family Home  UP 34%  ($940k vs $704k)

Average Sale Price Condominium  UP 23% (($661k vs $538k)

Average Sale Price Single Family Vacant Lot  DOWN 12%  ($516k vs $588k)

Total Dollar Value of all Single Family Homes Sold  UP 13%  ($26M vs $23M)

Total Dollar Value of all Condominiums Sold UP 35% ($22M vs $16M)

Total Dollar Value of all Single Family Lots Sold  DOWN 59%  ($3.6M vs $8.8M)

Current Inventory:

245 Single Family Homes (DOWN 25% from 2017)

323 Condominiums ( DOWN 8%  from 2017)

291 Single Family Lots (DOWN 3% from 2017)

859 Total Homes, Condos and Lots for sale, which isn't much.

A total of $52 Million dollars worth of real estate closed on Marco Island in July of 2018 compared to $48 Million dollars worth in July 2017. The market is hot, the weather is hot and my first wife is hot too. The market is hot because it seems the Buyers all want a piece of Marco Island. There are many theories floating around as to why the market is so strong and here is what I have to say. First, many Buyers think they will get a better deal in the summer when the Sellers are up north and they feel less attached to their property down here. They believe the Sellers might be caught in a weak moment and sell a bit cheaper. Is this true? If you want it to be true, it could be. If it's not true, we won't tell the Buyers. Second, the stock market only knows one direction lately and that is up. What do folks do when they have a few extra million laying around from the sale of their Apple stock? They come get'sum Marco. Is this true? If you had a ton of Apple stock and sold it, you should come talk to me and I will show you how it works. Third, living on Marco will make you taller, thinner, prettier, handsomer (is that even a word?), smarter and happier. Is this true? This is a fact and here is the proof. When I moved here my first wife was 4'8" and when she got some new sandals she was 4' 8-1/4", we had no money to buy food so she lost 10 pounds and the more I drank, the prettier she got, which proved how smart I was, which made me happy. You too can live this dream by buying a piece of Paradise. Now, going back to the beginning here $52 million dollars worth of Real Estate closing in the dog days of summer is impressive. Even more impressive is that year to date $467 Million dollars worth of Real Estate has closed on Marco. I believe I will round that up to HALF A BILLION dollars worth of closings. And I cringe a bit as I type this one, but look at the average selling prices up above for homes and condos. Things aren't getting any cheaper at this time.  So yes Virginia, everything down here is hot....

Football season is just around the corner and as some of you don't know, I am an avid player of Fantasy Football. Hey, if you can't do it in real life you may as well do it Fantasy style. Each year starts out with a draft and deciding who to pick can be a nerve-wracking problem. Is Tom Brady the best Q.B? Is it smarter to go with a Running Back, and if so, do I gamble on a rookie like Saquan Barkley, a fellow Penn Stater? There are many decisions to be made and I put a lot of thought into the draft and who I want on my team.  Now, I always have a moral to how things in life mimic Real Estate buying, and here is this months melange. In Fantasy sports you are pretty safe if you go with a proven player who has been at the top of the game year in and year out. In Real Estate you need a Realtor, say me, that has been a Top Producer, year in and year out. I've been on some good teams, and I've been on some bad ones, but no matter what, I could be counted on to get the job done. Rookies are for those that want to play long shots and hope they get lucky. Having a key player that anchors your team is critical to being a winner and minimizes your need to rely on luck. I know every home, every condo and every lot, which is equivalent to me knowing the playbook inside and out. I know what to look for and I know how to protect my customers from taking a hit. No Hail Mary's, no trick plays, and definitely no taking a knee. I just strap on my pen and hit the computer hard each and every day, because I believe that hard work and determination are the keys to everything. If you're looking to draft a Realtor, think of me as I still have to support my expensive first wife along with Andy and Willy. It's hard to get by with 7.6 faithful customers, but somehow we manage. And hey, I just really love buying and selling Real Estate, it's that simple.

Now, back to business for the faithful 7.6 readers who always want to know the high and low sales for the month. The sold $$ leaders for the month are... a Single-Family Home for $4.825 Million at 306 Seabreeze Dr. on the Beach in Hideaway. For Condos, Veracruz 802 closed for $2,380,000 and for Vacant lots, 1011 Coronado Ct. closed for $1,250,000. 

For you bargain hunters out there, a Single Family Home at 1336 Bayport closed for $330,000.  We have a tie in Condos with Aquarius S-9 going for $115,000 and Wexford Place Unit 5 selling for $115,000. I declare Wexford the winner because it had 2 bedrooms to the Aquarius's 1 bedroom. And a vacant lot at 397 Century Court closed for $170,000 -  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 don't worry, she doesn't eat much.

And, if you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought, or out played.

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 - May 2018

The following stats compare May 2018 to May 2017.

Sold Single Family Homes UP 11% (52 vs 47)

Sold Condominiums DOWN 13% (52 vs 60)

Sold Single Family Vacant Lots UP 27%  (14 vs 11)

Pending Single Family Homes DOWN 22% (40 vs 51)

Pending Condominiums  DOWN 7%   (53 vs 57)

Pending Single Family Vacant Lots  DOWN 27% (11 vs 15)

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

Inventory:

274 Single Family Homes ( DOWN 22%  from 2017)

375 Condominiums ( DOWN 1%  from 2017)

304 Single Family Vacant Lots (DOWN 1% from 2017)

953 Total

Summary:

A total of $92 Million dollars worth of real estate closed on Marco Island in the Month of May 2018. $90 Million dollars last month and $87 Million in March 2017 (last year). Again we had 2 homes sales over $3 Million, 4 over $2 Million and 10 over $1 Million. It makes me think of a book I read a long time ago called The Millionaire Next Door. There were 2 vacant lot sales over $2 Million and the big boy award this month goes to a unit in the Madeira Condominium that closed for $6.2 Million CASH (naturally). These numbers clearly show a big commitment by some big hitters on our little island. However, all these rich folks are really starting to give me an inferiority complex, so if any of my 7.6 faithful readers are trained in Psychiatry I would appreciate a free consultation. I am willing to barter bad marriage advice....

After a big selling season, most of the Realtors on Marco are fat, rich and happy which is better than after the hurricane when they were skinny, poor and drunk. Or, was is it fat, poor and sober? Anyway, things really ended strong and as we head into the summer things still look very good. The stock market was/is strong and many buyers were/are selling some stock and paying cash for Marco Island Paradise. That makes me think about something. In the stock market there are things called Real Estate Investment Trusts or REIT's. I figure a couple of my 7.6 faithful readers have some serious dough and maybe we aught to start up an IPO and start buying up all of Marco Island. We could be hoarders and collect all the properties like real life Monopoly. Instead of Boardwalk and Park Place we could have Caxambas and Waterside Drives in our portfolio. We can only build houses, so it won't really be like the game, but some of the houses they are building here now are as big as hotels. The other change is we won't be using play money, we need real cashish to play and we don't pay anything to pass GO. So, who's in? Harold P., BoBoC., Barbie R.?  As I ramble with this blog, my first wife, who also is my proof reader, tells me Fantasy Island should be the name of the REIT, because that's where I live, in a Fantasy world. Anyway, I can always count on her to ruin my Mojo and I guess I'll just keep selling them, just like I marry them, one at a time. A guy can dream, can't he?

So, what is the moral this month? I'll tell you what it is. Be happy with what you have. Sure that guy paid $6.2 Million cash for a condo, but little does he know the people living next door to him are nocturnal and make noise all night. The couple that paid $3.8 for the single family home? They could have bought it 6 months ago for $3.79 million and the folks that bought the expensive lot just found out that the lot isn't big enough to hold their 157' yacht, so they will have to sell the boat and get a 125 footer after they build the $10 million dollar house. Now those are real first world problems. And what is wrong in my perfect world, I'll tell you what, I just ate a big bowl of ice cream and forgot that I am lactose intolerant..... time for some paperwork.

Speaking of paperwork. Our eldest Andy graduated college and got the old sheepskin and I got some debt relief. The young'enWilly, is heading out on a road trip with me to evaluate colleges. Willy won the Wellesley College book award at her high school this year, but can't go there because apparently it is an all girls school which does not meet Wily's criteria.

The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of May, and they are as follows:

Single family home, 1629 McIlvaine Court closed for $3.8 Million.  Condo, as mentioned above Madeira Estate 4 closed for $6,200,000 and a vacant lot at 405 Inlet Drive closed for $2,350,000.

 

For the bargain hunters, a 3 bedroom home at 1216 Fruitland Dr. closed for $285,000. A condo in Seabreeze West unit F8, closed for $118,000 and a vacant lot at 797 Whiskey Creek Dr. closed for $50,000, yes, that is correct and you can still get a great deal on Marco Island.

And, if you are thinking of using me as your Realtor, keep in mind that I will never be out-thought or out-fought.   And, I would still love to have you take Babs and I out for dinner.

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 - April 2018

The following stats compare April 2018 to April 2017.

Sold Single Family Homes UP 7% (47 vs 44)

Sold Condominiums DOWN 2% (56 vs 57)

Sold Single Family Vacant Lots DOWN 23%  (10 vs 13)

Pending Single Family Homes UP 8%  (64 vs 59)

Pending Condominiums  UP 35%   (65 vs 48)

Pending Single Family Vacant Lots  DOWN 12% (15 vs 17)

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

Inventory:

301 Single Family Homes ( DOWN 19%  from 2017)

371 Condominiums ( DOWN 7%  from 2017)

297 Single Family Vacant Lots (DOWN 6% from 2017)

969 Total

Summary:

A total of $90 Million dollars worth of real estate closed on Marco Island in the Month of April 2018. $69 Million dollars last month and $80 Million in March 2017 (last year).  

OMG - $90 Million dollars of sales in 1 single month, that is a lot of money changing hands and it was really focused in the single-family home market, as opposed to condos or lots. As a matter of fact $60 million of the $90 million were single family home sales. Playing a realtor dentist, I decided to drill down into the numbers until I hit a nerve and got a reaction that answered what happened. Here is what I can tell you. In the month of April there were 15 homes sold for over $1 million. Some rich person paid $4,000,000 and came in THIRD place. Yes, there was another sale at $6,325,000 and the winner who brought home the bacon this month and fried it up in a pan paid a whopping $7,225,000 for a beachfront home in Hideaway. (In the Port Royal section of Naples the same home would probably cost $37 Million, so I guess it's a deal in a sense). The $6,325,000 was also in Hideaway. So, if any of you out there are Fuller Brush or Electrolux salesperson's I would suggest you knock on the doors of the Hideaway folks. They have plenty of scratch in there. 

When I met my first wife she was pretty normal, nothing special. No money of her own, No dowery, No future prospects, brown mousey hair - like a 5 on scale of 1 to 10. On the upside she had a couple nice attributes and she was very tall and tan ( I used to say "worth the climb") but again, just a plain old Jane (except her name wasn't Jane). Anywho, while we were dating some other loser comes along and shows an interest in wife #1. I'm dating her and I'm scratching my head saying "what's this moron see in her?" I figure I'm missing something and it's making me crazy. I decide to spend more and more time with her, but, nope nothing, just plain old flameless Jane. Loser #2 (I'm #1) keeps sniffing around and it's driving me absolutely insane that I can't see what he sees in her. So, not being one to lose out at anything I slap a ring on her finger and declare myself the big winner and marry her. After a few years of pain and anguish it becomes crystal clear that the other guy really was an idiot because she had nothing to offer. I head for the hills and the rest is history. Recently someone told me she lost a few pounds and became a yoga instructor and still has a miserable very handsome and intelligent husband. Now, my faithful 7.6 readers of this newsletter know there is a moral to this story and are also thinking of old what's her name. Here is the connection. Nancy, my work wife, and I had a condo listed that was gutted to be remodeled and then the owner decided not to move forward with the remodel. So here we are selling a condo with no kitchen or anything in it. An offer came in within minutes of the listing hitting the MLS. Another agent called to show the unit and was told an offer had come in and they quickly wrote up an offer. Then a third agent jumped in with another offer. It's an offer frenzy folks and nobody knows why because we are selling a plain old Jane condo. So, the way we handled that is, we went back to the 3 agents and told them to bring us their best and final offer. The first offer came back at full price, cash as is. The second came back at $27,000 over asking, cash, as is. The third came back at $50,000 over asking cash, as is, close in 14 days. Winner Winner Chicken Dinner! 14 days later we are taking commission checks to the bank. The connection here to wifey #1 is that sometimes when somebody else wants what you want you might get a bit carried away and make a mistake. Or, sometimes you love something so much you just have to have it, no matter what it takes. (either way, you're stuck with it so you might as well enjoy it).

The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of February, and they are as follows:

Single family home, 1002 Royal Marco Way closed for $7,225,000.  Condo, Riviera Four Unit  628 closed for $1,350,000 and a vacant lot at 1628 Mcilvaine Court closed for $1,300,000.

 

For the bargain hunters, a 2 bedroom home at 1263 North Collier closed for $300,000. A 1 bedroom condo in Wexford Place unit 465, closed for $105,000 and a vacant lot at 393 Century Drive closed for $164,000, yes you can still get a great deal on Marco Island.

The dinner invites have been slow. M&S certainly showed us a good time and they aren't even customers, just folks that enjoy the newsletter and appreciate our company. (Company as in Barb and I, and company as in  Berkshire Hathaway Florida Realty Home Services)

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 - March 2018

The following stats compare March 2018 to March 2017.

Sold Single Family Homes  DOWN 31% (29 vs 42)

Sold Condominiums DOWN 5% (56 vs 59)

Sold Single Family Vacant Lots DOWN 11%  (16 vs 18)

Pending Single Family Homes   UP 6%  (67 vs 63)

Pending Condominiums DOWN 4%  (69 vs 72)

Pending Single Family Vacant Lots  DOWN 11%   (16 vs 18)

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

Inventory:

326 Single Family Homes ( DOWN 19%  from 2017)

381 Condominiums ( DOWN 7%  from 2017)

304 Single Family Vacant Lots (DOWN 6% from 2017)

1,011 Total

Summary:

A total of $69 Million dollars worth of real estate closed on Marco Island in the Month of March 2018. $49 Million dollars last month and $79 Million in March 2017 (last year).  My finger is on the pulse of the Marco Island Real Estate market and it is beating like crazy, 69 million beats per month is strong, really strong. There is an undeniable sense of positiveness that is circulating allowing Sellers and Buyers to have a meeting of the minds and get things sold. The price reduction trend continues as everyone searches for the magic number. For the month of March, in the single-family home market, there were 101 asking price reductions, 3 increases - Condos saw 92 price reductions and 9 increases - Vacant lots had 41 reductions and 5 price increases. If you combine the price reductions and look at the nice number of pending sales up above, you can deduce that we are moving into a nice rhythm and the market is starting to dance fast like Chubby Checker's Twist, instead of a slow boring Waltz. Things are good in the market, sales are happening across the price spectrum and I think this is a happy time.

On a professional level, I had the craziest week of my 20+ year real estate career this week and my first wife (who still works as my assistant) was there heckling me as usual. I guess she keeps me grounded and reminds me that things really can be worse.  People were coming at me with some crazy deals, I learned more than I care to know about Radon, I had multiple offers on one property, I had a Seller withdraw a very expensive property after I had an excellent offer on it, (both sides of a deal is very nice until it blows up, then you are twice as sad). These are just a few of the odd things that happened this week and if you ever want to hear the gory details you would need to read the process, shown further below, to hear them in a restaurant. On a personal level, I had one of the craziest weeks as well because Willy, my youngest, showed me the prom dress that was picked out and it looks like it came from some Hooker catalog.  Andy, the eldest is graduating college next month and gave us the graduate school pitch. When I pointed out that I had a Masters degree, Andy stated: "yes, for some it obviously does not translate into success either professionally or personally". I think that was a cheap shot but I was taught never fight a red-haired hillbilly, they're crazy. People tell me I need a hobby. I don't golf, fish, boat, play tennis or pickleball. I think that maybe I just need a tall girlfriend and I am ready to start interviewing candidates.

So what does all this have to do with Real Estate you're wondering? It relates because there are different aspects of the market just like there are parts of your life. And in Real Estate sometimes your personality, both as a Seller, Buyer or Realtor plays a roll, and often the combinations create a chemical reaction that can explode or implode and then you bring me in as I am a great neutralizer just like Pepto Bismal. I had a Seller once remove a $50,000+ painting and replace it with a Walmart special. When confronted with the switch he claimed the inventory simply stated "Picture in Living Room". When the attorney explained that could be considered theft by deception, the painting miraculously reappeared. Countless times I have seen nice flat screen televisions swapped out for some old tube job, furniture dissapear and be told "oh, that old chair, dresser and bed?, well our twin grandsons were bouncing on the bed and when the bed broke one kid flew and hit the dresser and broke it and the other kid flew and hit the chair and it broke, so we did the buyer a favor and threw the furniture away because they were not only broken, they were obviously safety hazzards and we know the new buyers have their own grandchildren, so it is quite obvious we did them a huge favor by removing that furniture and we are sure they would understand and they would have done the same thing if they were us, and we would explain it further but we don't want to be late for Church because the confessional fills up quick when the Real Estate Market gets busier, and we heard from Gerry, as we are one of his 7.6 faithful readers, that the market is strong and as soon as our place closes we are going to buy another place and the Seller there told us" " the A/C was replaced new about 15 years ago" and he said "you know they can last 100 to 150 years if you get them serviced ever 10 years or so, as I diligently have done, and we never changed out the old carpet because styles change so fast it would be a waste of money, and no, the pool doesn't have a leak we keep it half full because it costs less to heat it and since the heater broke we let the sun heat it up and nobody cares if it's cold in the winter because nobody swims then because we go to Stan's on Sunday and do the Buzzard Lope, smell, what smell?"

The above is a partially exaggerated story woven to show you why you need a Realtor like me to guide you through the maze of buying and selling. My Realtor nickname is Tenacious G, I'm no quitter when it comes to business or family. I put everything I have into whatever I'm doing, and since I have no hobbies all I do is Real Estate and admire tall women.  I'm not saying everyone is like the characters above, I am just saying that you can't tell what you are getting into and you don't want to bring a knife to a gunfight. Bring along Tenacious G. and you'll never lose. 

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 month one of my highroller customers and his wife took Barb and I to Da Vinci's Ristorante (eye-talian for restaurant).  Those that have never had the pleasure of buying us dinner would not know that I never order, I always let the server choose for me because I like the surprise, it's like opening a Hanukkah present on Christmas morning. Anyway, Mrs. highroller had a couple of those fruity cocktails with beach umbrellas sticking out of them and she decides she will order for me. So I excused myself from the table and stepped away. 35 minutes later I am brought out a bowl of hot water and 2 packs of saltines. Naturally, I get busy dunking those crackers and woofing them down (hey, I'm not paying so it tastes good to me). Suddenly, a huge bowl of Zuppa Di Pesce arrives and you couldn't get the smile off my face. Note to self: don't wear a white shirt while eating Zuppa Di Pesce.

The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of February, and they are as follows:

Single family home, 813 Giralda Cutler Court closed for $2,250,000.  Condo, Belize 802 closed for $1,450,000 and a vacant lot at 1431 Caxambas closed for $2,910,000.

 

For the bargain hunters, a 2 bedroom home at 2043 Apricot closed for $375,000. A condo in Seabreeze South L8, closed for $122,000 and a vacant lot at 1750 Dogwood closed for $85,000, yes you can get a great deal on Marco Island.

Steven C. you can put down that mouse now. 

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 - 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