Luxury homes have been part and parcel to Marco Island since the Mackle brothers first conceived of this tropical paradise in the 1960s. People from all over the country and the world have chosen Marco as the backdrop for architectural perfection. While there are million dollar homes scattered all over the island, there are several areas that feature concentrations of multi-million dollar structures.
Hideaway Beach Club on the northwest corner of the island is a super-luxury, gated community that is home to Marco Island's only beachfront houses. The Estates on the southeast corner is home to some of the most grand mansions in all of Florida, which is saying a lot. Then you have several other neighborhoods like Key Marco and Tigertail and
After the roller coaster ride home values in Florida and other parts of the country have been on, everyone is always looking for any indication of future market trends. We've heard "when the expensive stuff starts moving we're going to see a recovery. That's a good one and I have another good one.."when the price of the cheapest houses available on the island start rising, we'll be in a recovery."
Well, that time might be now. It seems that almost any listing priced under $250k is hot by virtue of it's price alone. What's more is houses under $200k have all been gobbled up. Investors figure that a house on Marco for $200,000 is a no-brainer. The only question is will it double or triple in value over the next few years. Lower income buyers who
Ahh, inspection items... When purchasing a home on Marco Island, it is typical to have it inspected by a professional inspector between contract signing and closing. The home inspector will typically crawl through all the nooks and crannies that he can reasonably access in about three or four hours and give you a report of his findings. This is where problems can develop. First, there is no standard for home inspections and every inspector operates differently. Second, some reports are unnecessarily inflametory. Thirdly, there are inspectors that are not either experienced or competent to do their jobs. I've seen an inspector call attention to a nail hole in a garage door while missing the fact that all of the window sills on the rear of the
A week or so ago, I wrote an article entitled "Marco Single Family Home Sales Are Lagging?" So, today, in an attempt to dig a little deeper, I thought we'd take a look at a few more numbers. We're only looking at single family homes in this. Condos and lots are a little stronger and we'll look at those in upcoming articles.
First, the number of Single Family Home sales on Marco Island this month was 25. This is down from 33 just last month and 45 in July of last year. What do we make of this? Well, inventory has been steadily shrinking as the market has bottomed. There are 282 SFH listings on the market right now compared with 397 this time a year ago. Everyone's confidence in a solid bottom has brought many buyers off the sidelines and
The inventory of foreclosures on Marco Island has been steadily shrinking over the last year. It's great news for our market. While Marco Island had a relatively low foreclosure/total sales ratio, foreclosures still brought down the broader market. With the foreclosure inventory drying up, prices will naturally rebound. We've already seen this in condos and lots. Prices have popped a little this summer.
What has been described as an "over-correction" seems to now be righting itself. Just as the market spazzed-out from 2004 through 2007, it overreacted in the other direction as well. This has resulted in a huge buying spree that has continued into our off-season on Marco Island. We are seeing value-buyers in droves grabbing up anything that
"You never get a second chance to make a first impression." This old fact of life has been said millions of times in millions of contexts and there have never been truer words spoken when it comes to selling real estate. In my experience, people decide whether or not they'll buy a home in 10 seconds. They may grind over details for days or weeks but they always end up choosing the home I thought they would buy.
Home buyers all have imagined their next home and have subconsciously developed a picture of it in their mind's eye. They are searching for the home that matches this picture and they can usually decide whether they've found it very quickly. As sellers, we have to play into this buying process. We have to stage our homes in such a way
Caxambas Tower is one of our favorite waterfront condos on Marco Island. It was built in '79 and has forty-three units on its nine floors. Caxambas Tower is certainly one of the landmarks of the South End. Its basically in the center of the island facing south, overlooking Caxambas Pass.
One of the great things about this condominium is the views. They are spectacular from every unit. Imagine looking out over the Ten Thousand Islands from your living room. It's almost surreal. Of course residents have their choice of a long list of amenities that include heated pool, spa, covered parking, fitness room, tennis courts and fishing dock.
Caxambas Tower makes for great year-round living too. It's quiet and not bouncing with tourists. There
Welcome! This is our first article in a series that will showcase each of Marco Island's great neighborhoods. It's typical for newbies to Marco to see the island as one big, homogeneous, tropical paradise. After you've spent a little time here, though, you begin to see nuances of various areas that give each its own personality. Today, we'll look at Olde Marco.
Four thousand years ago, the Calusa Indians made Marco Island their home. These hardy people prospered on Marco and southwest Florida. Many of their artifact have been recovered in Old Marco including the Marco Cat, a panther-like carving that is, today, housed in the Smithsonian. In the late 1800s, William (W.T.) Collier was credited with founding Marco Island when he settled on the
We have a rare find for you today. We just listed a 3 bedroom / 2 bath condo in The Boat Club in Marco Island's south end area. If you've been searching for a boating condo on Marco with 3 bedrooms, you know how tough it can be, especially if you don't want to spend $800,000. They're just not out there. In fact, there usually isn't anything available in Boat Club at all. The 22 owners in this luxury complex love it and the turn-over rate is close to nil.
When we say luxury, we mean Luxury. The Boat Club has everything including a beautiful pool and spa, an elevator, storage, spectacular views from the panoramic living rooms, sun decks, and much more. Of courese, the thing residents love the most are the deeded boat docks that come with the
Yes, it's true. Marco Island single-family home sales are lagging a little behind condos and lots as we move through the summer. Nobody is really complaining, though. What has been a busy season for all of us continues. Overall numbers are strong but single-family-homes are not quite keeping up with lots and condos. Of course, only taking June snapshots isn't the best analysis but it is a fast and dirty way to take the market's temperature.
Compared to June, 2011, SFHs sold are down 5%, avererage selling price is up 0.5% but the median price has fallen over 16%. The low median price number is certainly a shocker but I think we'll see prices bouncing in a range for some time.
Marco Island Condos, on the other hand, are having a fantastic
