Marco Island Real Estate Blog

Every week or so, we take a look to see which listing on BuyMarco.com is getting the most action.  This week, it's a great condo in the Tropic Schooner development off Marco Island.  Tropic Schooner is located just a few miles from Marco off Collier Boulevard, in the Marco Shores area.  This is the area with the three high rise condos you see just before you arrive on Marco Island. The little Marco Island airport is in this area, too.

This particular listing is a two bedroom, 2 bath unit with 948 square feet of living area. It has views of the pool and cabana and a very low maintenance fee of $248 per month.  The fee includes landscaping, trash removal, insurance and more.

The reason this listing is getting so much attention now is the price. 

One of the great things about living on Marco Island is the ability to own a condo with access to the Gulf right in your backyard.  As I discussed in one of my recent blogs, there are numerous beachfront and waterfront condos for sale on Marco with boat docks included that require only a short boat ride to the Gulf.  The best way to judge value when you're thinking about making an offer on one is to look at what has recently sold.  In August alone, six waterfront condos sold.  Let's look at these a little more closely and see if we can spot any trends or interesting information.

A condo in Smokehouse Bay sold on August 21 for $230,000.  The list price was $249,000 so the buyers knocked a little over 8% off of the asking price.  This condo is water

Well, for all of you out there wondering how your property on Marco Island fared in the recent tropical storm, it did very well.  In fact,  the storm was anticlimactic.  With every update, the projected track of the storm was moved farther and farther from Marco.  Ultimately, we didn't even get much of a show.

As the storm made landfall in Cuba, the projected path took its center just a few miles off Marco Island.  Forecasters thought it'd be a hurricane when it got here.  People were scampering around preparing for the worst.  Plywood and generators were flying off the shelves.  Tourists were heading home.  Storm shutters were in place.  Then...nothing. 

We've had heavier rain this summer already with our usual thunderstorms.  The wind we

Who doesn't like free stuff?  Everybody likes free stuff!  We are going to be selecting a winner every week for the rest of the year and sending them a free Marco Island t-shirt.  All you have to do is register.  You can click on the photo on the home page to reach the registration form or simply use our Property Search a couple of times and the system will ask you to register.  Either way, you're signed up and could win a free t-shirt. We'll contact winners every Monday. 

When you register, you will remain eligible for the t-shirt drawing for the rest of the year.  The promotion ends on New Years Day 2013.

There is another sure-fire way to get a t-shirt.  Just buy or sell a property with The Boyle Team and you'll get one automatically.

Since the beginning of last week, nine affordable condos have been listed on Marco Island.  By affordable I mean, condos priced under $200,000, which on Marco Island is a steal.  Let's take a look at where these condos are located.

Two were located in Anglers Cove which is off of Bald Eagle Dr., on the Marco River.  Both are 1BR/1BA with 717 square feet with one priced at $119,000 and one at $138,000.  The higher priced unit is located in the much sought after building "B" but other than that, they seem very similar.  Aquarius also has two new listings; one at $99,900 and the other at $114,900.  In this case, the more expensive unit is an efficiency with less square footage than the lower priced unit.  It is nicely decorated and since it's turnkey,

Zillow.com, the real estate information company, recently released a study that finds, in most U.S cities, buying is a better deal than renting after just 3 years of ownership.  In Florida, it's even less time because real estate prices have been crushed.

If there's one thing I see Marco Island buyers struggling with, it's property valuation.  Even in a market where prices are often between a half and a third of what they were five years ago, many are still unsure that they're getting a good deal.  This study by Zillow is proof that not only are prices cheap when compared to 2006, they have fallen to the lowest in the country relative to rent.The time to buy in Florida is right now. 

Many are familiar with the price-to-rent ratio.  This is a

It's August 2012 and we're just a few months from another presidential election.  Of course, nowadays, there are other factors that are strongly influencing home prices besides the upcoming election.  Nevertheless, I thought it might be interesting to see what influence pending elections had on real estate prices, historically.

Well, election years, both presidential and mid-term, are bad for price appreciation.  The uncertainty of the future causes people to sit tight and wait.  In these big election years, U.S. home prices averaged 5.2% gains per year. In non-election years the average gain has been 5.8% since 1969.  When you look at median prices, you get similar results.  Non-election years outperformed election years handily: 6.3% annual gains

One of the greatest things about living anywhere in Florida is the rest of Florida.  You can drive to the best of what the state offers in just a few hours or less.  As long as your passion isn't snow skiing, you have it in Florida.  World-class cities with all the accoutrements, incredible adventures, wildlife encounters - it's all here in Florida.

If you want a break from the relaxed and cozy vibe that Marco Island is famous for, just drive two hours east and you're in one of the World's most dynamic cites.  Miami has everything.  It is probably the antithesis of Marco Island in every way.  It's intense. It's crowded.  It moves at 100 miles per hour, but it can be a lot of fun to visit.  Take a stroll down the beach past the famous art-deco hotels

Eight homes came on the market this week on Marco Island ranging in price from $294,900-$4,999,000.  The least expensive home is a foreclosure and priced to sell.  It's located in the River Area and is water direct which means, it allows direct access to the Gulf with no boat height restrictions due to bridges.  You'll be hard pressed to find another water direct home at that price on Marco Island now or in the near future.  There is only one other home on the Island that's water direct and priced similarly.  It's a short sale and has the sewage plant located across the water from it but, it's only priced at $198,900.

There is one home listed at $379,000.  It's centrally located with wide water views.  There are three homes listed in the $400's. 

We just sold a charming 2 bedroom home just off Marco Island in south Naples.  Located in the Quail Roost neighborhood, this modular home has over 1400 s.f. of living area and is located on a beautiful lake.  Quail Roost is a great development if you're searching for an affordable home that's close to Marco and Naples, too.

We've seen a lot of demand in the lower priced homes lately.  Not a day goes by that I don't get  a call from an investor looking for an exceptional bargain in the "under $100,000" range.  They're getting fewer and fewer each day.  The lower price range is evaporating and if you want one of these bargains, the time to act is now.

To give you an idea of the bargains that are available now, consider what this home sold for in the