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Home.com releases list of Top 100 U.S. cities for real estate searches: Cape Coral, FL makes the list!

May 24, 2012 By Leave a Comment

Cape Coral, Ft. Myers and Naples, Florida made Homes.com list of Top 100 U.S. Cities for buyers searching online for real estate. 

At #16, Cape Coral, FL continues to be very popular with domestic and international buyers.  This year, Rob Ricca and I have sold homes to buyers from Canada, Germany, and Luxembourg, continuing to work with clients from around the world.

If you’re thinking of buying, now is a great time, since the seasonal buyers and vacationers are no longer here in great numbers. Inventory is still less than previous year’s levels and competition for well-priced properties is high.

We are always looking for quality homes to add to our portfolio of listings, so call us if you’re thinking of selling! We will promote your property on over 550 global web sites and expose it to over 15 Million Buyers daily!!

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Cape Coral, FL and Susan Ball make the national news on CNN Money!

April 12, 2012 By Leave a Comment

I was pleased to be interviewed recently by Les Christie, of CNN Money, regarding the real estate market in SW Florida. Cape Coral was listed as #3 in an article entitled “10 Fastest Growing U.S. Cities” Click here to see the whole article

We talked about how much Cape Coral has changed since I moved here in 1993 and since I began selling real estate almost 10 years ago.  In fact, back in January 2004 was the last time a residential lot could be purchased for under $20,000! In 2005 and 2006 prices soared to $80,000 and even $90,000 for a vacant lot. Later came the decline in land value and its effect on single family home prices here.

Yet, the past year has been very positive.  We’ve seen an increase in buyer traffic and an increase in the selling prices of homes and condos here. There is fewer evidence of distressed property. And, we’ve also seen a great increase in the number of land sales. Investors and builders are buying inventory and that’s a very positive sign for our market and our economy.  We’ve enjoyed a busy winter season with many happy visitors and future retirees buying homes today and using them as income-producing properties now. And, we just sold one of our Previews International Exceptional Residences for $1.1 million dollars, right here in Cape Coral, Florida!

Now, WE NEED MORE LISTINGS! Rob and I have sold 10 of our listings this year and we need more quality properties to add to our portfolio.  If you or someone you know is considering selling, please have them call Susan Ball at 239-246-0167 and I would be happy to arrange a meeting with them.

Filed Under: Housing Market, Luxury Homes, Property Investment, Real Estate, Real Estate Agent, Uncategorized Tagged With: , , , , , , , , ,

Free Fort Myers and Sanibel Guidebook

March 8, 2012 By Leave a Comment
We’ve been enjoying a great winter season here in SW Florida! All of the visitors have had great weather, lots of sun, only a couple of cool days. The Visitors and Convention Bureau of Lee County, FL have reported great increases in hotel occupancy. By the way, did you know that Lonely Planet produced a travel guide for our area that you can get, FREE, from the VCB? Just click on this link: Order Free Fort Myers and Sanibel GuidebookTo get back to “season,” let’s talk REAL ESTATE! Wow! I have been tweeting and posting on LinkedIn lots of news about new listings, sales traffic, inventory, and a few price reductions. Let me share some quick figures: Since January 1, 2012, we’ve sold 773 single-family homes in Cape Coral, with an average sale price of $163,725. As far as Gulf-Access homes, we’ve sold 184 (which is just about the sale number as last year) but the average sales price is up to $321,110, about a 4% increase from last year.

Condo sales have gone up in price, too. Where last year’s condos during this time sold for an average of $96,610 this year’s condos have sold for an average of $119,339 and that’s up almost 20% year-over-year!

Let’s sum this up: you may want to list, because sale prices are increasing and there’s less competition with inventory so short. And, if you haven’t made 20% in your IRA or 401K in the past year, you may just want to get your second home, retirement home, or investment income property now…because prices are going up and inventory is down.

Come and see us, and Rob and I will be happy to share our “best buys” with you. If you can’t make it down, please send us a note and we’ll email you information right away!

Happy St. Patrick’s Day!
All the best,
Susan Ball & Rob Ricca
Filed Under: Homes for Sale, Housing Market, Luxury Homes, Real Estate Tagged With: , , , , , , , , , , , , , ,

Thanksgiving 2011: A Bounty of Blessings

November 16, 2011 By Leave a Comment

Count Your Blessings, Share With Others

As Thanksgiving approaches, we all think of family & friends, gathering to give thanks for blessings we’ve received throughout the year.

It’s been a wonderful year! I’ve enjoyed the use of a brand-new knee (installed Dec 2010) and the ability to play racquetball again. Rob has the upcoming birth of his first grandson to look forward to. We’re both grateful for the good health of our families and friends.

We’re also pleased with the successful business year we’ve enjoyed. Many of our customers have referred their friends and family to us – that’s a wonderful compliment to our service – and we appreciate these referrals greatly. Please, keep us in mind as you congregate and let us know if we may be of service to your family and friends.

Lastly, I am including some information about the Cape Coral real estate market. Inventory is extremely low and you can see the changes in the chart, linked below. November Inventory Analysis 2011 With high season approaching, buyers are seeking well-priced condominiums, single family homes, duplexes and vacant land.  Iin some price categories, inventory is down 50% from last November!

If you’ve considered selling in the past and have been waiting for market conditions to improve, now could be the time to contact us for a new market value analysis of your home. We’d be pleased to meet you and provide this information free of charge.

Have a Happy & Blessed Thanksgiving!

Susan & Rob

Filed Under: Buy a House, Condos, Homes for Sale, Housing Market, Property Investment, Real Estate Tagged With: , , , , , , , , , , , , , , , ,

Cape Coral and Fort Myers Real Estate Sales Trends for September 2011

November 2, 2011 By Leave a Comment
Set Your Clock Back on Nov. 6th

September 2011 is the latest, full-month real estate figures we can share. In our highest-demand price point, the under $150,000 single family home, available inventory is down more than 67% over last September. What about prices and new listings? 

All over Lee County, housing inventory is down, a fraction of what it was last year.  Take a look at the under $150,000 housing availability in Cape Coral, for example: CHART for Cape Coral September Inventory. Pricing in that segment of the market is up 5.7% year-over-year.  How many months of inventory do we have, now that we are approaching our high “selling season?”  Cape Coral’s Under $150K

Waterfront Homes under $500K, Days on Market and List/Sell Ratio

Finally, let’s talk about pricing. In the “Waterfront Cape Coral Homes Under $500K” category, the time it takes to sell (Days on Market) is up a bit this year over last, however, so are prices! Sellers are receiving a higher selling price in relationship to their list price when compared to last year.

The average “price per square foot” of living area in this category is up 11.8% year over year. Click on this link to see the Vast Difference in Available Waterfront Inventory in Cape Coral. 

I LOVE STATISTICS and MATH, perhaps you don’t. So, let me just sum up: We are now approaching the BEST time to sell, when winter residents and vacationers are here. Use the month of November to make those easy repairs and touch-ups that will enhance your home (call us for a FREE pamphlet with these tips). Give us a call and we’ll be happy to stop by with a personalized analysis of your property’s value in today’s market.

Global interest is steady in SW Florida real estate. Allow your Local Experts with Global Experience to help you, your neighbors, and your friends with any real estate needs! 

All the best,

Susan Ball & Rob Ricca

Filed Under: Buy a House, Condos, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, Market Trends, Property Investment, Real Estate, Real Estate Agent, Uncategorized Tagged With: , , , , , , , , , , , , , , , , ,

Congress flags possible new route to America visa

October 24, 2011 By 2 Comments

 

You’ve heard me talking about foreign direct investment in real estate in Florida many times. 31% of all foreign real estate buyers purchase in Florida. We are still, however, burdened with short sales and foreclosures, although our inventory has been shrinking a bit.  This new Senate proposal may help international buyers with their immigration needs while solving the nation’s real estate crisis.  Read the full article about the tourist visa program attached to real estate purchases.

Congress flags possible new route to America visa.

Filed Under: Buy a House, Homes, Homes for Sale, Housing Market, International Real Estate, Luxury Homes, Property Investment, Real Estate Tagged With: , , , , , , ,

SW Florida’s Real Estate Market is ON FIRE!

September 20, 2011 By Leave a Comment

SW Florida's Real Estate Market is ON FIRE!!

SW Florida’s real estate market is HOT! The month is not quite over, yet we’ve had 4 closings and 7 new listings! Buyers are extremely active in the market, which is unusual for this time of year. The sense of urgency is evident, as prices rise and inventory shrinks.

Land, condos and houses…it seems that buyers from all over the world are converging on SW Florida, making purchases now that they’ve seen the statistics on pricing and inventory. The global marketplace may be driven by news of gains in pricing and the desirability of our area.

Money Magazine released an article naming the Top Places to Retire. (Click to read the full article) Based upon cost of living and other factors, 10 US Cities were selected. Cape Coral, Florida came in as #2 on the list! Mind you, the article uses 2010 housing statistics. The median price of a home in Cape Coral has risen significantly this year, up almost 30% from last year!

If you’re thinking about selling, now is the time to put your property on the market. Inventory has shrunk and, even more importantly, the number of distressed property (foreclosures and short sales) on the market has lessened. Timing is critical: we are approaching our busy season, with winter residents and vacationers returning to our area. Placing your property on the market now will allow us to feature it in upcoming magazines, real estate publications, and Internet sites where winter buyers are already shopping and planning their buying trips.

Allow us to provide you with the maximum exposure for your property, posting it on over 350 Internet web sites and international real estate search sites. Remember, Florida is the #1 choice for international buyers, with 31% choosing to buy here. The agency listing your property for sale must have a strong global presence in order for your property to tap into this excellent source of buyers.

Please take a look at our new listings and the visual tours:
Great SW Florida Homes, Condos and Land and let us know if we can speak with you about selling your property!

Filed Under: Buy a House, Condos, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, Property Investment, Real Estate, Real Estate Agent, Uncategorized Tagged With: , , , , , , , , , , , , , , , , , ,

Watch Your Mail: SW Florida Tax Notices Mailing Soon!

August 7, 2011 By 4 Comments

Watch your mailboxes carefully, because the Property Appraiser’s office of Lee County, FL will soon be mailing out Truth In Millage (TRIM) notices to all property owners in cities like  Cape Coral, Fort Myers, Lehigh Acres, Bonita Springs, Estero, North Fort Myers, Sanibel and Pine Island and all of unincorporated Lee County.

This notice advises property owners of proposed 2011 tax liability. The form consists of 3 columns: one for last years taxes, column 2 shows this year’s taxes if there are no budget changes, and the 3rd column shows this year’s taxes if the proposed budget changes are made. Remember, 2011 property taxes are based upon sales that occurred during the previous calendar year. So, for this year’s assessed values, sales of property during 2010 are considered and used to determine assessed value.

When you receive your TRIM notice, there are THREE important things to make note of: #1, look at the postmark on the envelope and make note of the mailing date. #2, check the assessed value of your property, #3 , check for the deadline date listed below the columns for filing an appeal.If you disagree with the property appraiser’s assessed value of your property, you have only until that date to file an appeal.

 The Property Appraiser’s office states: “If you disagree with your property’s assessed value, please attempt to discuss it with a staff member of the Property Appraiser’s Office. If you petition the VAB for a change in value, the Clerk must RECEIVE the petition by the deadline date. Please see your proposed notice for the deadline date. (NOT MERELY POSTMARKED).”  Here’s a helpful link to information on the appeal process: The Value Adjustment Board (VAB) Process

How do you know if your assessed property value is correct? You can attempt to find out using some of those online valuation sites, however, not all of those paint a true picture of valuation, since many of these are not kept up to date.  I would suggest that if you have any questions about your property’s value, just give us a call and we’d be happy to provide you with a complimentary market value analysis. We are local experts and pleased to provide you with up-to-date information!  We look forward to hearing from you!

Filed Under: Appraisal, Builders, Buy a House, Community, Condos, Estate, Homes, Homes for Sale, Housing Market, International Real Estate, Luxury Homes, Mortgages, Property, Property Investment, Property Taxes, Real Estate, Real Estate Agent, selling a house Tagged With: , , , , , , , , , , , , , , ,

Green builder builds Net Zero homes in Cape Coral, Florida

August 2, 2011 By Leave a Comment

 

Last week was an exciting week in Cape Coral, FL!  Rob Ricca and I are working with 3 different buyers on homes in our city and we closed a sale of one of Fort Myers, FL high-rise condos, too!  I took a few moments away from all of this activity to attend the groundbreaking of a new model home in SW Cape Coral, built by Ravenwood Homes.  This model is a Net Zero energy efficient home, designed to allow the owner minimal energy consumption throughout the year! 

Rob and I also are working with one of our clients on his new, custom-built and designed energy efficient home. Ravenwood Homes and their design team are creating our client’s dream home on a terrific water front lot that he purchased from us last year.

Feel free to read the article of coverage from the News-Press on their links below!  Also, if you know someone that has vacant land with waterfront, now will be a great time to build. Interest rates are still low, building costs are reasonable, and buyers are looking for new construction.  Contact me for more information.

Groundbreaking of Net Zero Model Home by Ravenwood Homes

Net Zero Homes built by Ravenwood Homes

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From 2½ Years to 5 Months: Cape Coral Housing Inventory Falls

July 26, 2011 By Leave a Comment

  

In 2011, buyer demand for Cape Coral real estate has been very strong, resulting in a significant change in the availability of property for sale in the community. I experienced this while working with buyers from Canada last week. They were seeking a gulf-access pool home and, while 40 of those homes sold in the past 90 days, there were only 13 homes for them to see last week!

Inventory levels of Cape Coral during the past year look like this:

 

 

 

 

  July 2010 Jan 2011 Jun 2011 1-year Change
Single Family Homes for Sale 3319 3012 2143 -35.4%
Multi Family Homes for Sale 517 476 321 -38%


Certain segments of the market have experienced even more severe changes.

1. In Cape Coral, single family homes with list prices under $200,000 dropped from 2,318 homes to 1,310 homes. This means we have 43.5% fewer homes available at prices under $200,000.

2. For every 5 Foreclosures for sale in July, 2010, there are only 2 foreclosure properties for sale now. That means not only less availability, it also means less competition for the conventional home-seller.

3. There are 46% fewer Short Sale single-family and multi-family properties on the market this July compared to last July.

Imagine shopping in a store where there is 50% to 60% less merchandise than there used to be! Remember “New Coke?” When Coca Cola announced the New Coke, there was a run on the store for Old Coke. Picture that same feeling here, where inexpensive houses are harder and harder to find!

With respect to real estate sales and properties for sale, how does this July market compare to prior years? Four years ago, July, 2007, the number of months of inventory (absorption rate) of single family homes was 31.24 months. In other words, if no more single family homes came on the market, there were enough homes on the market in July 2007 that it would take over 2½ years before all the single family homes would be sold. Today, in July 2011, our homes are selling so quickly and there are so few of them, that we only have a 5 month’s worth of inventory!

This change is so noteworthy that even the News-Press, our local newspaper even published a front-page article last week reflecting on the good news: Lee County Housing on Upswing

There are a number of reasons for the sales activity the Cape Coral real estate market has been experiencing in 2011. Despite a challenging economy, International buyers favor Florida and spend 31% of their real estate dollar in our state. Cape Coral was recently selected as the most popular destination when these buyers search online. Cape Coral’s weather, miles of waterfront and attractive real estate prices have created massive appeal to foreign buyers. Southwest Florida’s airport (RSW) is one of ONLY 26 US airports with non-stop service to a foreign country. Ease of access from Germany, Canada, and our new service from Denmark make SW Florida very atractive.

In my next newsletter, I will share more reasons we’re experiencing a recovery and new, interesting statistics from our market.

Right now, I would like to you to think about anyone you know who may have thought of selling, but didn’t want the competition from short sales or foreclosures. Now, may be the very time they should like their property for sale. Of course, I would love to help them. Please honor me by sharing my contact information or give me a call.

Or, do you know someone who was thinking of buying and hesitated because they thought prices were still coming down?We’re seeing just the opposite here in SW Florida! Encourage that person to contact us today, before their delay costs them more money.

Hope to hear from you!

Susan

Filed Under: Buy a House, Condos, Foreclosures, Homes, Homes for Sale, Housing Market, Property Investment, Real Estate Tagged With: , , , , , , , ,
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