Marco Island Real Estate News

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.

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

We have a couple of notable condos that were just listed this week.  First, check out the new short sale in Bougainvillea Gardens.  This is the only unit available in this perennial favorite and it's priced at only $249,000.  It has two bedrooms and two baths and has been beautifully remodelled with granite countertops and stainless steel appliances.  The floor plan is feels roomier than its 1200 s.f.  Bougainvillea Gardens is located on the South End of Marco Island and is just a short stroll to the beach.  For more info, just contact us or click to see the listing.

Next, we have a unit in South Seas East. Just about the same price as the Bougainvillea condo, the South Seas unit has partial views of the bay and you can walk right outside and start

Last week saw a total of 16 sales close on Marco Island with the majority of those being condos.  To break it down:

• Three homes sold with two very close in price at $250,000 and $255,000 respectively and one at $667,500. 
• Thirteen condos sold ranging in price from $80,000-$1,675,000.

Sometimes there's an obvious trend.  For example, condos that sell mostly in the $300,000-$600,000 range.  That was not the case this week.  Prices were all over the place with no obvious rhyme or reason to it.  Let's take a closer look at what sold:

• The two Marco Island homes that sold in the $200's were both inland with no water access.  This would explain their lower prices however, the one that sold on 29 N. Barfield was an exceptional deal.  It

DIY, of course, stands for Do-It-Yourself and in real estate we refer to these sellers as FSBOs, pronounced "fizz-bo".  The natural aversion to paying 6% to a broker to sell one's home is absolutely normal.  But, because of the multitude of issues that are involved, selling your home yourself can be challenging.

If you are the adventurous type, go for it.  The key to success in selling your Marco Island home, as is it is with just about everything, is preparation.  Not preparing is a recipe for disaster.  Your home may go unsold for a long time if it sells at all. Plus, your bottom line may shrink considerably if you fail to recognize some of the nuances of the process.

To help you prepare, I've put together a few tips that you should be aware

If your home was on the market for awhile and did not sell, try not to get discouraged.  There are several things to consider and sometimes it has nothing to do with your home or the market.  The first step is to make sure you make a commitment to do whatever it takes to get your home sold.  After you've done that, there are four things to consider.  Usually a problem with one of these will explain why your home did not sell.  They are:

1. Teamwork
2. Pricing
3. Condition of your home
4. Marketing

1. Teamwork-Your relationship with your Realtor should be a full partnership where your needs are being heard and communication is a priority.  You should receive prompt feedback after showings occur so you have an idea of what the market thinks of your

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

"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

There are six mistakes that many homesellers make that can prevent them from maximizing their profit and create more stress than is necessary during the homeselling process:

• They don't analyze why they're selling
• They don't make sure the home is ready for the buyer's eye
• They overprice their home
• They hang out during showings
• They sign a long-term listing agreement without a written performance guarantee
• It's difficult for buyers to find information on their home

Using the following system should prevent mistakes like these, maximize your profits and reduce the stress the comes with the home-selling process:

• Understand the reasons behind your decision to sell and don't tell anyone what they are.  Your answers will

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