Bonita Springs Real Estate | Buying a House in Bonita Springs, FL | Homes for Sale in Bonita Springs, FL

Inside Real Estate
Let Us Help You!
Jim 239-287-6241 Jan 239-287-6414
Follow My Blog
RSS
THE BOEGLIN TEAM
Jim, Jan and Grif
The Boeglin Team
    Years of Experience: 7

Direct: Jim 239-287-6241 Jan 239-287-6414

Office: 239-992-0059



Company Info

Coldwell Banker
8200 Health Center Blvd Ste 101
Bonita Springs, FL
239-992-0059


Real Estate Tools

Schoolsschools

Communitiescommunities

Calculatorscalculators

Archive for June 2010

FORECLOSURES ON THE EBB: MEDIAN HOME PRICES ON THE RISE IN SOUTHWEST FLORIDA

Wednesday, June 30th, 2010

As we approach the 3rd quarter of 2010, the 5 year long housing debacle shows signs of reversing direction.  From the perspective of the Boeglin Team, the Southwest Florida housing market is currently in a holding pattern:

  • Median home prices have stabilized, and have actually increased slightly in Lee County compared to a year ago;
  • Not coincidentally, foreclosure filings in May were less than half the filings of a year ago;
  • Buyer confidence in long term housing health (12 months or more) is on the rise; but
  • Short term concerns such as nagging economic uncertainty and the BP oil spill remain a drag on the Florida housing market.

My son and I recently completed a week-long 350+ mile bicycle trip from Bonita Springs, Florida to the Gainesville area.  We had a ground-level view of economic activity along the way.  Many of the towns we biked through appear to be thriving.  Towns like Punta Gorda, Arcadia, Wauchula, Lakeland, Dunellon, Cedar Key and Bronson showed signs of economic recovery.

Observing Central and Northern Florida was also a reminder of the “specialness” of Southwest Florida.  The Naples/Bonita Springs/Estero area is clearly “as good as it gets” anywhere in the world.  From the designated bike paths, to the beautiful golf course communities, to the retail and restaurant facilities, to the proximity of pristine beaches, it all adds up to a Five Star area to call home.  It is no wonder that home buyers are interested in our area.

BEING OF VALUE – Part Two

Tuesday, June 15th, 2010

 “Strive not to be a success, but rather to be of value.”  Albert Einstein.  This is the second in a series of blogs on this important concept, specifically as it relates to people and situations we experience in the everyday business of real estate.  My topic today might surprise some people, and it took me awhile to realize that the activity is actually a positive thing.

A recent business activity in our area involves homes that have gone through the foreclosure process, and are auctioned off to the highest bidder.  Most of these foreclosed homes are unoccupied, in various states of disrepair, and not been paying condo or home owners association dues.  They are often blight on the neighborhood that is driving down home prices all over the community.

We see investors purchase these homes at extremely low prices; re-sod or re-seed the lawns; bring in new landscaping; replace damaged flooring; repaint walls; purchase new appliances; and essentially bring a “dying” home back to life.  They pay association dues and put the homes back on the market at levels that provide them with a nice profit, while still offering home buyers affordable, below market prices.

As long as the plague of foreclosed homes afflicts our area, I consider this business model to be “of value”.  These investors are providing an important service in the home recycling business.  New homeowners benefit by having a decent home at an affordable price; neighborhoods and communities benefit with the elimination of a blighted property; property taxes, utilities, and associations get paid; contractors have jobs to perform; appliance stores, paint stores, and flooring stores make sales; and the economic cycle points in a positive direction.

Of course, not all investors in foreclosures follow this business model.  Some investors simply buy the homes to “flip” in whatever state of disrepair they were in when they bought them.  I see very little “value” added by such investors.  They are simply in it for the quick buck.  Their days are probably numbered.

IMPACT OF BP OIL SPILL IN SOUTHWEST FLORIDA

Thursday, June 10th, 2010

It has been nearly 8 weeks since the BP oil well explosion in the Gulf of Mexico, and thousands of barrels of oil have been spewing into the Gulf’s waters daily since the disaster began.  There is no end in sight, and it appears that this may prove to be the largest man-made ecological disaster in the history of Planet Earth.

As residents of Florida, we are anxiously monitoring the impact of this ecological and economic disaster on our little corner of the world.  Our hearts go out to the fish, wildlife, people, beaches and estuaries in Texas, Louisiana, Alabama, and the Florida Panhandle.  Meanwhile, we are watching the flow of oil as it inches it way in the direction of our home—Southwest Florida.  Fortunately, we have yet to see signs of spilled oil in our area.

When I bike from Bonita Springs to the Naples Pier, I stop at Vanderbilt Beach (and at the Naples Pier) to check if there are traces of oil to be seen or smelled.  Nothing so far, but my fear is that hurricane season could change that in a hurry.

We are blessed with many of the world’s great beaches, bays, and estuaries.  Beaching, boating, and fishing are a way of life for many Southwest Floridians.  We do not want these God-given resources to be damaged or destroyed by corporate negligence and greed.

So far, there has not been a noticeable impact on our real estate market.  Buyers still consider our area to be one of the top destinations on the Planet.  Let’s hope and pray that BP has not destroyed this Paradise along with their reputation. 

It is difficult to assess the effort of BP to control the ecological and economic damages that have been, and continue to, accrue from their actions.  The “spin” coming from their public relations department sounds great; the people directly affected by their actions appear to be less impressed.

From my perspective, saving Planet Earth has a much higher priority than the financial survival of BP.  They should marshal their assets (i.e. not pay dividends to shareholders or bonuses to management until this emergency is completely resolved) in order to maximize their ability to handle the impact of criminal negligence on their victims.  For BP, this is a test of character.

BEING OF VALUE – Part One

Friday, June 4th, 2010

Albert Einstein once said:  “Strive not to be a success, but rather to be of value.”  For me, this is such an important personal message that I intend to return to it in some future blogs.  Hence, this blog is designated as Part 1.

When I was about 12 years old—roughly 55 years ago—my 89 year old grandmother lived with us.  I liked her a lot, partly because she did some of the chores that would otherwise have fallen on me.

I still remember the day she was drying the dishes I had washed, and dropped a plate to the floor.  It was her second shattered plate in a week.  A tear ran down her cheek as she put her towel down:  “Now I’m of no value.”  She walked into her bedroom and died several weeks later. 

The experience affected me deeply, and I never forgot the lesson.  I believe that being of value is an important personal need, and it comes into play in a variety of successful human ventures—businesses, family life, friendships, organizations, sports teams, etc.

We all know people who slide through life making little or no effort to add value to their world.  Their goal is to “take” rather than to “give”, and they tend to live difficult, lonely, unhappy, unsuccessful lives.  It is the “givers” who enjoy happy, successful lives.

Most successful businesses follow a business model that is designed to be of value to their customers and to their communities.  In my experience, any other business model is simply not sustainable over a period of time. 

In recent times, we have witnessed “flippers”, who were simply betting on a rising real estate market, come crashing down to financial ruin.  Their business model did not include a way to be of value to anyone other than themselves, and they brought the residential real estate market down with them.

We have also witnessed Wall Street firms who were simply re-packaging investment risks such as mortgage-backed securities designed not to add value, but to leverage their profits.  They almost succeeded in wrecking the U.S. and the Global economies.   

The mission of the Boeglin Team is to strive to be of value.  We attribute our success to these efforts.  Some of our future blogs will share some of the ways that we observe people, companies, and organizations striving to be of value.  We welcome feedback from all of you that share situations you observe in which value is added to our world.

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

Free Market Alerts

Get local reports delivered to you

 
Ask Me a Question

Do you have questions you need Answered?

Recently Asked Questions
    Featured Listings
    » View More Listings
    market alert newsletter

    Get free market reports delivered to you. » Sign up today

    - Copyright © 2010 Inside Real Estate, LLC

    Inside Real Estate does not endorse the agents on this site, and does not guarantee the content submitted by the site's members. Blog and page entries, content, and other information contributed by agents that are members of the site are accountable to the particular agent.