Marco Island Real Estate Stats and Commentary - January 2019

The following statistics compare January 2019 to 2018

Sold Single Family Homes UP 27% (19 vs 15)

Sold Condominiums DOWN 29% (25 vs 35)

Sold Single Family Vacant Lots DOWN 30% (7 vs 10)

Pending Single Family Homes UP 7% (44 vs 41)

Pending Condominiums DOWN 35%(41 vs 63)

Pending Single Family Vacant Lots DOWN 21% (11 vs 14)

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

Inventory:

353 Single Family Homes (UP 8% from 2018)

433 Condominiums (UP 20% from 2018)

318 Single Family Vacant Lots UP 6% from 2018)

1,104 Total - Is on the rise, keep an eye on this.

Summary:

A total of $42 Million dollars worth of real estate closed on Marco Island in the Month of January 2019. $50 Million dollars last month and $43 Million in January 2018 (last year). Let's just say this year is starting out with a clang instead of a bang. Cutting right to it; here we go. I blame the stock market which ended the year with The Dow and S&P 500 recording their worst December performance since 1931 and their biggest monthly loss since February 2009. Folks, I don't care how good a Realtor you know I am, it's hard to sell MAGA hats at the Democratic Convention. That's it. The whole shebang. Now you want to know why the Stock Market took a pooper? Only I could figure this one out. Ready? It is because of the restaurants and golf courses here in Marco and Naples. WHAT! you ask does that have to do with the stock market? Here is the hidden algorithm I solved, stick with me. Our real estate market rides on the coattails of the boys up on Wall Street. Many of them fly into Naples on their private jets on the weekends to stay at their Mega Mansions. When they get here all they want to do is go out to dinner and play golf. As soon as they realized the wait times at the local restaurants and tee times at the golf courses were increasing because more and more people were moving here and crowding them out, they decided to take action... with me so far? So, they all flew back to NY around Thanksgiving and they met in secret where they devised a way to make the market drop, knowing when they hit Collier County prospective property purchasers in the wallet/pocketbook, real estate sales and discretionary spending would slow, resulting in a decrease in the hungry people going to restaurants and golfers hitting the 19th hole. This strategy would simply thin out the herd. Once the herd is thinned, there is plenty of room at the old watering hole for the privileged few.  Ingenious I say for them to pull it off - and this brought a new meaning to the Trickle Down Theory of economics. What they weren't counting on is the fact that little ol' me would figure out their scam and bring it to light. Since I have, you may have noticed that the stock market is robust again and I think February and March will show much stronger real estate numbers. Mankind can thank me later when I accept the Noble prize in economics for cracking this. 

As my faithful 7.6 readers know, my first wife is smarter than all of these fancy wall street actors and knows how to get immediate results. Last month she asked me to meet her for cocktails at Trulucks Restaurant to discuss the fact that our son Willy was accepted into The University of Florida, and how was I going to pay for all of it. Apparently, Willy can't live in a dorm with the regular students, he will need to live in a private home with a staff based on what she told me it will cost. Anyway, Barbarita asked for 2 seats at the bar and was told there was a 45-minute wait. She then announced that she was "vertically challenged" and demanded that she be accommodated immediately. The manager got very nervous and figured to avoid a lawsuit he better act quickly. He pulled two stools out from a back room, pushed 6 other patrons closer together and squeezed us right in there and offered my first wife a complimentary Hemlock cocktail and me a Manhattan. When he brought out a phone book for her to sit on so she could see over the bar, she fist punched him. From there the dinner became complimentary as well. 

Now, as usual, you are asking what does all of this have to do with Real Estate, and as usual, I will pull it all together and try to make sense of something. Sometimes in Real Estate, things are simply out of your control. If you are a Buyer, the Seller may be extra motivated and sell you something cheap because an alimony payment is coming due and liquidity is needed. Or, sometimes you may be a Seller and the Buyer makes you what they think is a very generous offer, you figure if that is what they offered, there MUST be more meat on the bone. Ultimately you sadly find out they were vegetarians and there were no more peas in their pod and the deal goes South. It is an awful feeling not to be in control of something (shout out to my boy Andy here), but if you go with what the deal brings you, sometimes even though you may not be in control, you can get it all wrapped up nicely and move on with your life to new adventures.

Barb and I are now Slingers and are open to anyone that wants to take us out for dinner and Sling later on. 

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. 

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 2018 Year End Review

Total Value of All Property Sold on Marco Island UP 1% ($709 Million vs. $700 Million)

Total Number of Sales on Marco Island (All Property Types) DOWN 4% (976 vs. 1,012)

Number of Sold Single Family Homes DOWN 6% (361 vs. 385)

Number of Sold Condominiums UP 3% (485 vs. 469)

Number of Sold Single Family Vacant Lots DOWN 23% (108 vs.140)

Average Sale Price of a Single Family Homes Sold was $1,007,000 UP 6% from $949,000

Average Sale Price of a Condominium Sold was $599,000 UP 10% from $545,000

Average Sale Price of a Single Family Vacant Lot was $474,000 DOWN 10% from $524,000

The overall List to sell Ratio was 93.24%. This means that on average properties sold within 6.76% of their asking price. Put another way, the average sale price was negotiated down 6.76% from the asking price.  

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

This means properties were on the market 9 days less than last year. (In this case, the RED is good)

Current Inventory of Single Family Homes is UP 6% (319 vs. 302) 

Current Inventory of Condominiums is UP 14% (388 vs. 339) 

Current Inventory of Vacant Single Family Lots is UP 6% (300 vs. 283)

State Of The Real Estate Market Address

2018 was a rock solid year for Marco Island Real Estate and was basically a continuation of 2017. The dollar volume went up a smidgen from $700M to $707M, the total number of properties sold was down a tad from 1,012 to 976 and the average sale price overall was up a bit from $949k to $1M.  Homes and Condos in the higher end of the market (Over $1 Million) are doing very well and I don't see any weakness here for the foreseeable future. I can tell you that in December the total number of properties sold was $50M in 2018 vs $54M in 2017 and the total number of properties closed dropped from 84 to 65. However, the average sales price went up from $643,000 to $773,000  and the median sale price went up from $494,000 to $600,000 which again reinforces the notion that the higher end is getting stronger and expanding. (This also proves that the rich are getting richer; right HP?)  Another thought is that most of the higher end deals are cash (no mortgage) and as the interest rates have crept up past 5% this is causing a bit of weakness in the under $1,000,000 arena as many of these buyers obtain mortgages. The stock market has been an absolute roller-coaster and some folks are getting sick, jumping off, and bringing their puked on money to Marco to secure a place for their early retirement. 

Now let's talk about vacant lots. Here the story is different, the number of lots sold is way down and the average sale price is down as well. Why? Well, here is the slant I have taken for the past year or so and it goes like this... A bunch of wealthy people came to Marco 2-4 years ago and bought up a whole bunch of lots and spec built homes on them.  Many of these homes are still for sale and these spec home builders have decided to take up yoga instead of buying more lots and building more homes. (Why yoga?, because punching people isn't cool). On top of that, I am hearing that the price per square foot of construction has gone up and seawall prices have really gone up which makes spec building a more expensive proposition. However, there are always buyers looking for nice new homes so either they will buy a lot and build their dream home or a new bunch of speculators will come into the market and buy up the lots, build more spec homes and the ebb and flow will continue. Overall, I think the market is very healthy, not crazy at all, and picking up steam as we move into the busy season. Now is the time to make your move as inventories are creeping up slowly and there are more properties to choose from. All is good!

So I spent some time in the hospital with kidney stones last week. I was told by my first wife that she heard passing a kidney stone hurt as much as having a baby and she laughed and laughed as she told me this. When all the dust settled, I passed 6 stones or my little sextuplets as I refer to them.  Naturally, I have opted to name them.  First out was Andre "The Giant", now 5 millimeters may not seem like much when you look at a ruler, but when it's shaped like a razor blade it's massive. Next came Hillary and Donald, they both had big heads and started fighting and crying in the specimen cup. Then I pushed out little Tommy Brady and man is he a winner. Then came Squirt named both literally and figuratively. Last, but not least, was the Barbara stone, this one was the smallest but caused the most pain and suffering by far.  17 oxy's and 12 ice packs later, I can now write my name in the snow. My 7.6 faithful readers know there is a moral buried in here somewhere and this is it - Sometimes there is some pain in real estate transactions. Maybe you don't get as much money as you want, maybe you have to pay a little more than you want, possibly it takes more time than you want, or it could be that you thought the deal was done and then something happens which causes the pain to start up again. But just like kidney stones eventually everything works out and you get to go back to normal.  As they say, "this too shall pass" and I am now a firm believer in that saying more than ever. And just like childbirth, eventually you forget the pain and you may even try to have another, and another, and another, because it does get easier and the joys certainly outweigh the pain.

On the extreme downside my dad passed away on January 5th at 89 years old. My current wife (she lost her dad in September) and I were out eating lunch at the Sunset Grill last week talking about life, our kids Willy and Andy, and how we needed to get back on track after our mourning. As we were finishing our lunch and getting ready to pay our tab our server told us a nice gentleman had paid our bill. I looked up and there is an old customer of mine smiling. He had no idea what had just happened in our lives, but his kind gesture meant more to us at that moment than he could ever know. There is good in this world and when you least expect it, bang, there it is.  I know he doesn't have a lot of money because one of his friends told me he drives a goat truck. I'm not sure what a goat truck is, but apparently, there are lots of them in Michigan and this guy must be the best goat trucker there is in my book.  Regardless, my wish is that each of my 7.6 faithful that read this will go out and do some sort of "pay it forward" gesture for someone because it really can make a difference in someone's life.

For those of you keeping score, the HIGH sales for the year by catatory are:

Single Family Home -  1002 Royal Marco Way sold for $7,225,000 CASH

Condo - Madeira Penthouse 1506 sold for $6,200,000 CASH

Vacant Lot - 1431 Caxambas Court sold for $2,910,000 CASH

The LOW sales for the year by catagory are:

Single Family Home - 1216 Fruitland sold for $285,000 CASH 

Condo - Seabreeze West unit G2 sold for $100,000 CASH

Vacant Lot - 797 Whiskey Creek in Key Marco sold for $50,000 CASH

Congratulations to our winners!

Call, email or text with Real Estate questions and/or dinner invitations. Speaking of dinner, Mr. and Mrs. Roache` (pronounced like the French bug Roh-shea) took us out to ZaZa's for Mexican food, but I ordered the French Fries in their honor. Come on folks, let's step it up with the dinner invitations, my current wife is down to 89 pounds.

In 2019 I still will not be out thought or out fought when it comes to Real Estate.

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 November 2018 HOLIDAY ISSUE

The following statistics compare November 2018 to 2017

Sold Single Family Homes DOWN 5%  (20 vs 21)

Sold Condominiums UP 21% (34 vs 28)

Sold Single Family Vacant Lots UP 50%  (6 vs 4)

Pending Single Family Homes DOWN 36% (25 vs 39)

Pending Condominiums DOWN 11% (34 vs 38)

Pending Single Family Vacant Lots EVEN 8 vs 8)

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

Inventory:

305 Single Family Homes (EVEN from 2017)

381 Condominiums (UP14% from 2017)

304 Single Family Vacant Lots (UP 8% from 2017)

990 Total - Creeping up

Summary:

A total of $46 Million dollars worth of real estate closed on Marco Island in the Month of November 2018. $50 Million dollars last month and $52 Million last November. When I type the numbers above I use last months email as a template. The more I change Red to Green or Green to Red I am drawn to pay closer attention to those numbers. (We do get an occasional Blue when we need help.) Anyway, there seems to be a little easing in the market and I can't put my finger on it. Could be there was a lot of activity post Irma last year, could be the stock market has cooled off, could be Santa will get you a new home in December and the numbers will go up then, could be a combination of these things. An interesting note is that across the board the average sale price this November was $759,000 vs. $972,000 last November.  Nothing to be alarmed with here, that is simply attributed to large number of high end sales that happened last year.  I can also tell you the Median Sale price comparing the same period  was $471,000 vs $443,000. That tells you prices are moving up. Overall, I think there is a just a little lull in the market, interest rates are creeping slightly, appraisals for the 40% +/- deals are becoming tougher as the prices creep up and that just slows down the whole process. In reaction to all this I can delve deeper and tell you there were 109 Price reductions in the MLS in November and 8 price increases.  The Seller's are getting the message and starting to pull back a bit to stimulate interest in their properties. The Buyer's seem to be a tick away jumping in. All is good.

I wasn't feeling very creative this month so I simply wrote a little poem below. (My 7.6 faithful must first read a bit more crap before you get to the poemy part). The poem by the way, is a hyper rare example of Haikulimerciksonnetnarrativeepiccoupletfreestyle form of poetry. It is so rare you will probably never see another one like it again.

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 $2,337,500 at 1285 Martinique Court. For Condos, Cozumel 1504 closed for $2,250,000. For Vacant Lots, 850 Sea Dune Lane. closed for $1,000,000 in Hideaway.

For you bargain hunters out there, a 3 bed/2 bath Single Family Home at 1245 N. Collier Blvd. closed for $350,000. In Condos, we have a 1 bedroom Marco Villa closing at  $129,000 and a Vacant Lot at 929 Whiskey Creek Dr. closed for $169,000 in Key Marco.  There are still great deals to be had.

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 battle. Last week we had a great dinner at the Island Cafe with the Corridor's.  Now, as those of you that have taken Barb and I out for a boring dinner know, I don't order, I let the Server choose my dinner and surprise me.  WELL, Mrs. Corridor has upped the ante.  She decided I would leave the table for a minute and she would choose my dinner. Well, let's just say she could not have chosen anything better and I loved it, the surprise and their company.

Now let the show begin:

Twas the night before closing as I lay with my spouse,

Not a creature was stirring since Truly Nolen fumigated the house.

The closing papers were all piled on the chair with care,

In hopes that tomorrow we could close without fanfare.

The Buyer’s and Seller’s were nestled all snug in their beds,

While visions of tomorrows closing danced in their heads.

The loose tiles on the roof were still an unsettled issue,

So I cried, my nose ran, oy I need a tissue.

And Barb in her jammies, and me going commando,

We had just settled in to hear Abba sing Fernando.

When out on the lanai there arose such a clatter,

I sprang from my bed because I used to be much fatter.

Away to the slider, I ran like a flash,

Tore the screen open which cost me some cash.

The moon on the breast stuffed with fresh silicone,

Luckily is something we don't need in our home.

When what to my bloodshot eyes did appear,

But a Viking Yacht with a dog in the rear.

With a little old captain so lively and hairy,

I knew in a moment he must be Hanukkah Harry.

More rapid than seniors driving to an early bird supper,

He docked his yacht, I believe called Fudrucker.

He burped and tooted as he called his dogs name,

Come Mensch, grab Gerry, and let's show him we got game.

So I hopped in the boat and off to the Seller's home we did float, 

With a copy of the roofer's huge repair quote.

As we climbed the ladder, Harry got madder,

As he realized fixing the roof was no small matter.

He was dressed in work pants sporting a hammer and file, 

I was blessed to find he had the correct color tile.

As he worked in the moonlight, his face shown like a round dish,

He got hungry and asked for some gefilte fish. 

His eyes how they twinkled and gleamed just like my Pops, 

Got larger the longer he sipped on the Schnapps. 

He worked through the night till he had a five o'clock shadow,

He had a purpose of mind that was very narrow. 

Because I was curious and just had to know,

I wiped my brow and let this one go.

I threw out the question Hillary or Trump? 

He refused to answer and called me a chump.

We climbed down the ladder and I looked up at his work, 

I knew right away I didn't have to become a desk clerk. 

Both sides of the deal now, and everyone happy, 

I know the lawyer will close this one snappy.

I shook Harry's hand as he boarded his boat, 

I was so happy I got choked up in my throat.

I wished I could have thanked him for all he'd done,

But I was too late, and watched him ride off into the sun.

But I heard him exclaim, ere he drove out the Marina, 

Happy Holidays to all and like a Snowbird I'll see ya!

To my Faithful 7.6 readers, I hope all your dreams and wishes come true in 2019!

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 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