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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

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

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Posts Tagged ‘boeglin team bointa springs’

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LOCATION, LOCATION, LOCATION!

Sunday, October 10th, 2010

We residents of Southwest Florida are spoiled.  Most of us live within 5 or 6 miles of the Gulf, and enjoy a great tropical climate.  From Sanibel/Captive to Marco, and Fort Myers, Estero, Bonita Springs and Naples in between, the climate is “as good as it gets”.  Further inland, it tends to be hotter, muggier, buggier-but still a great climate in the winter.

Within the larger context of climate, what are the considerations that make a great location to call home?  After 7 years in real estate in Southwest Florida, these are the Boeglin Team’s top location issues: 

  • What is the traffic pattern for getting into and out of the community?
  • How accessible are the Gulf beaches?
  • How near is the home to parks and golf courses?
  • Is grocery shopping convenient?
  • Are attractive retail options nearby?
  • How close are drug stores, medical offices, hospitals?
  • What about churches, banks, schools, the library?
  • Is the community relatively safe from crime?
  • Is it protected from traffic noise?
  • Is the community in the landing or departure pattern of the airport?
  • How accessible is the Interstate and the airport?
  • Is it a walker-friendly community?
  • Is it safe for biking?

We are blessed with a variety of communities with a wide range of home prices.  In today’s market, there are lots of homes available in almost every community in Southwest Florida.

For those of you looking for a place to call home in our area, we recommend a 2-step process:

1.  Research and identify the community or communities that are located in the areas that best meet your top priorities; and

2.  Zero in on home options available in your favorite community or communities.

The Boeglin Team has the local knowledge and experience to guide you through the process.  Please feel free to call us or e-mail us with your questions about our area.

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Posted in Home Buyers | No Comments »

WHAT HAPPENS WHEN THE COUNTRY CLUB’S WOES SPILL OVER TO THE NEIGHBORHOOD?

Tuesday, September 21st, 2010

Most potential homebuyers are aware of the financial challenges facing many golf and country clubs everywhere, and especially in Florida.  As Coldwell Banker Realtors, the Boeglin Team is obligated to provide prospective home buyers with a written disclosure before showing them homes in a golf course community.  We suspect that other reputable brokers require similar disclosures.                                           

If the buyers haven’t read about the diminishing memberships, reduced services, and cut-throat competition among clubs for available golfers, then their Realtors have advised them of the precarious situation in which many non-bundled clubs find themselves.

So, what happens to home values when the future of the neighborhood golf and country club is hanging in the balance?  Many buyers want the expansive golf course views, whether or not they are golfers, or intend to join the club.  “Not knowing” what may happen to the neighborhood is a clear negative.

As a practical matter, we think it is likely that most of the troubled clubs will weather this storm, perhaps surviving in another form.  We expect that most expansive golf course views will remain.  The future form may change from private club to semi-private, or open to the public.  Some clubs may cut back from 27 or 36 holes of golf to a basic 18-hole golf course.  Food and beverage services may suffer or be eliminated all together.

What is the solution?  In our opinion, the longer the “limbo period” prevails, the greater the damage to home values.  Failing to face difficult decisions simply prolongs the agony.  The real estate market—like the stock market—can handle good news and bad news.  It does not deal well with continued uncertainty.

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Posted in Golf Communities, Property Values, Real Estate | No Comments »

THE NEW HOME BUYER PROFILE

Tuesday, September 14th, 2010

 

For many years Florida homebuyers looked like Northerners with gray hair, searching for a place to spend their retirement years—either seasonally or full time.  Then 5 or 6 years ago, “flippers” arrived on the scene looking for quick profits.  They would buy anything with a sign in the yard, and put it back on the market at a much higher price.  It was a time of chaos.

For the past several years, homebuyers of any kind were hard to find in Southwest Florida.  The flippers were in foreclosure, and the gray-haired Northerners were wary of a plunging housing market.  It didn’t help that their retirement nest eggs were devastated by the stock market, and their Northern homes were virtually unmarketable even if they wanted to move south.

This summer and fall, we have seen a steady stream of another kind of home buyer—the investor who sees current home prices as an unbelievable bargain.  It doesn’t hurt that their nest eggs have recovered a bit, interest rates are at a historic low, and the stock market has been sluggish.  This new home buyer is looking primarily in the “under $250,000” housing market, as a way to get their foot in the door in this highly desirable area.  They figure they can always “trade up” later on.

Many of these investors are within 10 years of retirement, and plan to use their new home as a vacation getaway, family retreat, or rent it out for a few years until they are ready to make their move.  They see current home prices as a rare opportunity to “get in at the bottom”.

There are many excellent reasons to own a home in Southwest Florida.  Add long term investment to the list.

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Posted in Buy a House, First Time Home Buyers, Home Buyers, Invest in Southwest Florida Real Estate | No Comments »

BUYING UNDER FAIR MARKET VALUE … MYTH OR REALITY?

Monday, August 16th, 2010

Everyone is aware that the fair market value of Southwest Florida homes has dropped dramatically in the past 4 or 5 years.  Is it possible for a buyer to purchase a home for even less than its depressed value?  Absolutely, if the buyer is willing to accept an “as is” foreclosure or short sale, with all of the attendent risks and hassles.  Possibly, but not likely, if the buyer wants a nice, well-maintained home in a desirable community.

“Fair market value” is usually defined as the price at which a willing buyer and a willing seller agree.  There are some sellers who are more willing, or motivated, than others.  It has become a common technique for buyers to make verbal, not-binding offers in an attempt to “smoke out” a desperate seller.  Some buyers will float several such offers at the same time.

Does this technique work?  Rarely.  Most homeowners who are not distress sellers have already adjusted their sights to extremely low levels.  They do not respond well to a fishing expedition that is an additional 15% to 20% below the currently depressed fair market value.

The Boeglin Team recently experienced this scenario with one of its condo listings in Spanish Wells.  The buyers were very specific in their requirements:  second floor; coach home with 2 car garage; 3 bedrooms plus a den or loft; in great shape; preferably turnkey furnished; and not a short sale or foreclosure.  And they wanted it at the going price for short sales and foreclosures.  They began with a verbal offer that went nowhere.  A week later, their realtor put it in writing.  Sellers responded to the written offer with an extremely fair counter offer, but still 10% above the demands of the buyers.  The result?  The buyers are missing out on owning a great coach home that is just what they want, at a great price—just not a “steal”. 

During the “market bubble” of 5 or 6 years ago, some sellers were too greedy and ended up failing to sell their home at all.  Today, some buyers are being too greedy and will end up failing to buy a home at a bargain price.  There is something to be said for fair market value.

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WHAT IF A SHORT SALE IS A VIABLE OPTION?

Tuesday, July 27th, 2010

We talk regularly with homeowners who find themselves “upside down” on their mortgage, meaning that they owe more than the home is worth in this market.  What are their options? 

  • Many of these homeowners continue to make their monthly mortgage payments, and pray that the value of their home will rise before their nest egg runs out.  This is an admirable approach, and one that we would never discourage.
  • Some homeowners accept a sale price that is less than the mortgage owed, and then bring a check to closing to cover the difference.  Another admirable approach.

A more common option in the current market is to go through the short sale process, in which the bank approves a sale price that is short of the mortgage balance—and then writes off the difference.  The homeowner receives none of the proceeds, but also walks away from the deficit and the burden of ongoing mortgage payments.

The Boeglin Team has helped quite a few homeowners in Spanish Wells and nearby areas to successfully negotiate the short sale process.  Recently, Coldwell Banker established a separate department to assist its realtors in dealing with the unique issues of this process.  New Federal regulations are now designed to make a short sale easier and quicker.

If you, or someone you know, is struggling with an upside down mortgage situation, the Boeglin Team is here to help. We can meet with you to explore your options, and to explain the short sale process as it applies to your circumstances. All information will remain completely confidential.

These are uncommon times, and uncommon times sometimes require uncommon approaches.

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MIXED MESSAGES … HOME PRICES IN SOUTHWEST FLORIDA

Thursday, May 27th, 2010

Understandably, economists are extremely interested in the “health” of the housing industry.  Our homes represent a significant portion of the wealth of our nation.  Stability, marketability, and  steadily growing values of homes is as key in the economic mix as growing employment, retail sales, and a sound stock market.

Recently, we have been receiving mixed messages on the health of the housing market.  A lot depends on where we live.  Nationally, home sales were up almost 23% from a year ago, but concerns remain due to expiration of the tax credit programs.  Nationally, home prices were up 4% from a year ago.  However, inventory levels of homes for sale remain above normal. 

Locally, the statistics have been relatively strong in Naples, Bonita Springs, and Estero this spring compared to a year ago.  The Boeglin Team meets daily with both buyers and sellers.  We feel that our “ground zero” perspective goes beyond the statistics.  What is our current view of the market? 

  • We meet a lot of interested buyers who have been “kicking tires” for awhile.  Among the serious buyers, we see more of a sense of urgency than we’ve seen for a long time.  There seems to be a fear that this “bottom” is going to get away from them; that mortgage rates are not going to remain at these historically low levels; that there are fewer desirable homes from which to choose.
  • Sellers are digging in their heels.  They’ve seen their home values drop by 50% or more in the past few years, and see better days ahead.  Unless their home is a distress sale, or their personal circumstances demand a sale, many homeowners are getting downright stubborn.
  • Single family home prices have clearly stabilized in the past 15 to 18 months.  The declines that began 5 years ago have stopped.  With very little new building going on, there seems to be a balance in the supply and demand equation.
  • Condominium prices continue to drift a bit, with signs that prices are in the process of stabilizing.  A combination of financing complexities peculiar to condominiums and an overabundance of investor-owned condos has presented ongoing issues in this market.  We expect this market to rebound soon—perhaps before the end of the year.  Buyer interest in the condo market appears to be growing in our area.

It has been a long, difficult road for homeowners in Southwest Florida.  It has also been a unique opportunity for buyers to come into the market at extremely affordable price levels.  If history is any indication, times are changing.

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NEW WAVE OF MIGRATION IN SOUTHWEST FLORIDA

Thursday, May 20th, 2010

While Congress and the President wrestle with the sticky issue of Comprehensive Immigration Reform, there is another form of Migration that is underway in Southwest Florida that has gone largely unnoticed. 

In the ‘80s and ‘90s many northerners bought into bundled golf communities like Pelican Sound, Highland Woods, Worthington, and Copperleaf and Spring Run at the Brooks.  “Bundled” means that golf membership is a requirement of home ownership, whether or not the owners play golf.  The trade-off is that golf dues are less than dues at private country clubs with limited memberships.  Typically, the club dues are $5,000 to $6,000 per year at bundled clubs, compared to $9,000 to $12,000 at the traditional clubs where membership is optional.

Many of the homeowners who bought into the bundled golf arrangement 10-20 years ago no longer play golf—but they are still stuck with the dues.  Most of these folks love living in Southwest Florida and enjoy the expansive views of the golf courses bordering their homes.  The migration that is underway is moving from bundled communities to communities where golf is optional.  Communities like Pelican Landing, Shadowwood at the Brooks, Spanish Wells, and Imperial Golf Estates.

Unlike the immigration issues that face our nation, this migration is a win/win situation.  The homes in the bundled communities get sold to a new wave of golf enthusiasts, and the sellers are able to buy into communities with amenities that match their needs.

If you are a part of this migration, the Boeglin Team is here to assist you in the move.  We have experience in many of the communities of Southwest Florida.

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FLORIDA RESIDENTIAL MARKET IS EVOLVING

Saturday, May 15th, 2010

This May has been a vivid demonstration of the relative volatility of the stock market.  It has moved as much as 3% or 4% in a single day—in either direction.  In contrast, the residential real estate market usually consists of lumbering trends that are obvious only in retrospect.

We have noticed this spring, as we take buyers around to potential properties in the Bonita Springs, Estero, and North Naples communities, that viable options are becoming more and more limited.  After several years of too many choices, we are now having difficulty finding the kinds of homes buyers want that are appropriately priced.

At first I thought it was my imagination.  However, as I review the Sunshine MLS statistics, the picture is beginning to take shape.  For example, the current inventory of homes on the market in the Bonita/Estero area is 2,243 compared to 3,319 a year ago.  This drastic inventory reduction has been accomplished even as a number of over-priced homes have continued to languish on the market year after year.  There were 75 new “pendings” last week, compared to 30 during the same period a year ago.  This will continue to put downward pressure on the level of the inventory.

In my opinion, a “healthy” inventory for Bonita/Estero would be about 2,000 homes available for purchase.  When the number drops below 2,000, I expect to see upward pressure on home prices.  We are not there yet, but the trend is clear.  Unfortunately, increasing home prices will only be obvious in the rear view mirror.

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Posted in Housing Inventory Update | No Comments »

RECIPROCAL GOLF SEASON IN FLORIDA

Friday, May 14th, 2010

During the “offseason” in Florida—officially May 1st to October 31st—it is the custom for country clubs to extend reciprocal privileges to members of other clubs.  Personally, this means that as a Spanish Wells Country Club member I can golf and/or dine at more than 50 other clubs in the area.  Other club members are also invited to come to Spanish Wells.

Since May 1st, our golf group has been busy.  Already we’ve played The Colony at Pelican Landing, West Bay Club, The Quarry, and are scheduled for Quail Creek.  It is a great benefit to being a member of a club.  Some of our snowbird members stay well into May or return early in October to enjoy reciprocal golf privileges.

Of course, visiting other communities is also a part of my job as a Realtor.  Playing the courses is really a research project which enhances my local knowledge of the area.  (Jan, are you reading this?)  I should probably be visiting at least 2 golf courses per week to soak in the information.

There are many good things about living in Florida in the offseason.  Reciprocal golf is one of the “biggies” for me.  It ranks right up there with endless sunshine and un-crowded roads and restaurants.

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Posted in Golf Communities | No Comments »

LOCAL KNOWLEDGE

Monday, May 10th, 2010

America has a wonderful tradition of home ownership.  Most of the people we work with have a wealth of experience in buying and/or selling homes.  Usually, however, the experiences have been in places other than Southwest Florida, and they have been in different times and market conditions.

There are many essential ingredients in being a successful, effective realtor.  Honesty, integrity, competence, dependability, willingness to work, and the ability to communicate are all vital pieces of the puzzle.  Local knowledge of the market is also a key ingredient.  That is the reason many “up north” realtors use us when buying or selling their own home in the Bonita Springs area.

Sometimes when we meet with homeowners who want to sell, our knowledge of the local market falls on deaf ears.  They already “know” the market value of their home.  They tend to be in denial of the current state of the market, and fully expect that a buyer will appreciate their home so much that they will pay more than its market value.  Usually, these homeowners come around after a period of futility.  Sometimes, they go through multiple realtors and have their home on the market for many years.

Sometimes we work with buyers who “know” the housing market is so desperate that they can “steal” the home of their dreams.  These folks can be a realtor’s nightmare, as they search high and low and make offer after offer that is rejected as ridiculous. 

There are many effective realtors in Southwest Florida who also have local knowledge based on years of actual experience in our market.  These are the professionals, who are successful in selling their customers’ homes; who are successful in educating buyers on the best options based on their needs, and an appropriate price to offer.

We like to think that the Boeglin Team has all of the ingredients to be effective realtors for our customers—both sellers and buyers.  The feedback that Coldwell Banker receives from our customers confirms our belief. Let us work for you.

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