Bob's Blog - Southwest Florida Real Estate Musings

Southwest Florida housing market reports, hot new listings, buying and selling tips and more from Bob Forman.

Many of the investors I have worked with in the past are moving towards multi family homes and commercial buildings as well as vacant land for best growth potential as well as return on investment.

Bonita Springs, Naples and Fort Myers are prime spots for these properties. 

I just sold a duplex for under 140,000, the owner will put about 20,000 in. I advertised this property for rent on Craigslist for a week and had numerous inquires, I rented both sides for $1000 per month per side collecting 1st last and security deposits on each unit. Of course I did background & credit checks as well as employment verifications.

This was an exceptionally good deal considering a similar duplex down the block just sold for over 190,000.

Rents here are soaring, if you are looking to move some money around to perhaps purchase and get involved in this possible lucrative investment, let me know and or check out my new website, www.buyfloridare.com.

Those that think about it that do not pull the trigger will quite possibly say to themselves down the road, I missed out again.

Financing is also available for many of these purchases.

 Bonita Springs, Florida, The Undiscovered Country.

There is a wonderful part of Bonita Springs that I discovered the 1st time by making a wrong turn. When I discovered this peaceful area, my wife and I knew this is where we wanted to live. Months later we purchased our current home in a community named Southlands, most people get it confused with the community named Fairwinds to our due north.
https://mapsengine.google.com/map/edit?mid=zjEHzNgQFYKM.kmk1suPa-Ml4
The reason for this confusion is because our community sign and one of the two streets in our community are called Fairwinds. Therefore, most of my neighbors and I call this place the Original Fairwinds or Fairwinds 1.
Southlands or Fairwinds are both located in the area in MLS BN06.
What does this mean to you? Difficult to find? Not really, but if you did not make a couple of timely turns you would never find your way.
One of the two streets in is Paradise, and for most of us, we feel like we live in "Paradise".
Since discovering this area and moving into it I have sold millions of dollars of real estate to people like us. People who like their privacy or people that don't want to see a ton of vehicles driving by daily. The two main streets in are Cockleshell and Paradise, neither are thoroughfares, meaning that they take you in but to stay on them as you drive north takes you to dead ends. The area consists of many different communities including homes ranging from the mid 100's to the mid 500s. There are condos from 95,000 and up.
Some of these properties border what once was the Bonita Springs Golf & Country Club. This course and club may be reopening in the not to distant future. One can only speculate on how this reopening would impact the values in our area.
The area as a whole also has some single family homes with lot sizes of over one acre. For those who want the ultimate in privacy. There is also some new construction going on, if that is what you want.
To learn more, contact me or check out my website, link below.
Come see what we are about, you will be glad you did.

See all Bonita Springs homes www.bobyourrealtor forman .com

See all Estero homes  www.bobyourrealtorforman.com

See all Naples homes www.bobyourrealtorforman

Basic steps to investing in property to resell or flip.
Whether you are a 1st time investor or a repeater typically the same rules should apply to make a good return on investment. Many would be investors who are not given proper guidance end up buying a property that they get buried in and either make little or no profit.
How do you avoid this you ask? You need to be working with a Realtor that understands the market, someone who is not in for a quick sale and disappears before it is time for the resale because they know how difficult it will be to get you out without a loss after the rehab & closing costs are paid.
I work with many investors, we have had excellent success in this market because I am very careful of what I will allow them to invest in. I can provide you acess in our MLS and show many examples of what was paid for a particular property and what it resold for.
A good Realtor has to understand the market of today but also must have a good feel for what the market will be in 2-4 months when the subject property is ready to be placed back on the market. This Realtor should have many connections for workers and materials that can keep an investors cost in line so a good ROI can be achieved. What is a good ROI? Most of my investors are please with 10-15% of their total cost into the project. If this can be realized 3-5 times per year it can make for a very attractive system for investors to keep turning their profit into larger scale projects and thus more money. If done correctly it is also good for the Realtor who should be always on the lookout for the next potential great deal.
My team personally gets involved in color and product to make sure that when the property is ready to be resold it is attractive to buyers for a quick sale. I had two resale within five days of listing in the last sixty days.
Obviously there is much more to doing this the right and proven way, but the rest of the goodies are only shared with my clientele. Although I have been involved with investors in Cape Coral, Fort Myers and Lehigh Acres, most of my business has been done in Naples, Bonita Springs & Estero.
If I can be of any help, please let me know. Contact Bob Forman MVP Realty 239-322-7672 bforman@buyfloridare.com
Search my website for information about SW Florida and all property listed for sale. www.bobyourrealtorforman.com

Bonita Springs, Best value in SW Florida?

Bonita Springs, the place to get the most home for the money, enjoy!
As a licensed real estate agent in Florida mainly serving southwest Florida to include Naples, Bonita Springs, Estero, Marco Island, Fort Myers and surrounding areas, I have the ability and privelige to see all of the best areas. As a former snowbirder for many years, all we new was Naples. Now as a full time resident who still loves Naples, my true infatuation is with Bonita Springs.
Why Bonita Springs?
1) You get the small town feel with all the advantages of a larger city.
2) Most people who live in the area are good genuine friendly folks.
3) Close proximity to the beach, no more than a 20 minute ride and most parts Of Bonita will only take a few minutes to get to the sandy shores.
4) Some very secluded areas like the former Bonita Springs Golf and Country Club area wear I live and I have sold many property.
5) San Carlos Estates located inside Bonita Springs where most homes have at least an acre of land.
6) Only 10-12 minutes to RSW, Regional Southwest Airport.
7) Coconut Point Mall and other great places to shop and eat.
If you would like to see or hear more, visit my website, link below or call me and I will be happy to show you my paradise.
Most of my listings sell in 60 days or less.

Call Bob Forman 239-322-7672. See all property in SW Florida

 Fairwinds in Bonita Springs

 

Search all Fairwinds homes in Bonita Springs for sale to include new construction, conventional sales, and any distressed sales.

Fairwinds is located near the end of Paradise Rd. off Shangrila.

Fairwinds is a non-gated community of single family homes, many with private pools, all with tile roofs.

The community features lush landscaping, private road, lower HOA fees that include lawn maintenance as well as irrigation. 

Contact realtor and neighbor Bob Forman 239-322-7672 for the latest news and other information on Fairwinds or the area in general.

Call me SEVEN days a week.

See all Bonita Springs homes including Fairwinds. www.bonitalistings.com

 

 

 

 

 

 

Jan. 23, 2018

Valencia of Bonita Springs New Construction

Bonita Springs as most of SW Florida has new construction going on everywhere and this properties are HOT! The latest community is Valencia of Bonita Springs located between Village Walk of Bonita Springsand Bonita National Country Club. These communities are located on Bonita Beach Rd east of I75. Location itself is excellent because you are minutes from the airport, beaches, major shopping as well as Naples. Valencia of Bonita is an age 55 and up community.

Ask about our relocation incentive!

See all SW Florida property for sale. www.buyfloridare.com

To tour and learn more about the amenity laden community, contact the Forman Team,

Bob Forman 239-322-7672 MVP Realty Luxury Division, call me 7 days a week.

 MVP Luxury Division

Valencia Bonita

Posted in Tips for Buyers
Jan. 23, 2018

Where To Watch the Sunset in Bonita Springs Florida?

Being an active Realtor in SW Florida means more than just helping folks buy or sell their homes. It also means I have to provide pertinent information other than that which is involved in a real estate transaction such as good places to eat, shop, etc. One of my most often asked questions is where to watch one of our wonderful sunsets. My personal favorite place to view our sunset is Doc's Beach House 27908 Hickory Blvd. Bonita Springs, FL 34134. 

Doc's not only offers convenience in proximity with their location being close to the corner of Tamiami Trail (Hwy 41) & Bonita Beach Rd., but also has a fair amount of parking as well.

So if you're looking for a good place to have a bite to eat or a glass of beer or glass of wine, try Docs.

On another note, if you're looking for a professional Realtor that is on top of today's market and makes himself available SEVEN days a week, call me, Bob Forman 239-322-7672. Please try my property website as well. www.buyfloridaRE.com.

More questions about the area? Call or text me now!

Docs

Bob

Jan. 23, 2018

Bonita Springs Homes For Sale

One of the many great things about living in Bonita Springs, Florida is the proximity to the beaches. Whether you want to go to the beach in Bonita Springs, Naples or Ft. Myers Beach, the travel time is negligible for the return on your time investment. The ride to FT Myers Beach being the longest travel time because of single lane traffic and the amount of people vacationing there. However it is worth the ride to at least visit if you are here on vacation for a week or four. 

My wife and I make it a point to go to FMB at least one time every other month, always have a good time at one of the local watering holes or eateries.

However, since this blog is about Bonita Springs, I'll get back to writing about our that. 

There is much to do in Bonita Springs such as great restaurants, shopping, entertainment and friendly people. The area is clean and well maintained.

There are many great communities to live in as well such as Village Walk, Bonita Bay, Island Sound, Worthington and newer communities such as Bonita Isles, Bonita National Country Club, Bonita Lakes and currently being built Valencia of Bonita just to name a very few.

To see all homes available in Bonita Springs Florida, click on my website link, www.buyfloridare.com.

Jan. 23, 2018

FAIRWINDS COMMUNITY IN BONITA SPRINGS FLORIDA

Here are the things that I like best about Fairwinds in Bonita Springs. Also, you should know that there are two Fairwinds Communities next door to each other, so we call them Fairwinds 1 and Fairwinds 2.

This is my top SIX list of reasons to at least consider buying in Fairwinds.

1) The homes built by Pegasus Home Builders which is the majority of homes in these communities were built extremely well utilizing metal studs, 10 foot pieces of drywall, volume ceilings, tile roofs and so much more.

2) Location is terrific, about 15 minutes to the beaches, about 20 minutes from RSW our major airport, less than 10 minutes to Coconut Point Mall a great place to shop and eat as well as see the lastest movies. Also minutes from Publix, Fresh Market and Winn Dixie. About 20 minutes to Mercato and Naples.

3) What you can buy for around 450,000 would cost perhaps 200,000 more for a similar property in Naples which is 10 minutes away.

4) Location again, you have to make two wrong turns to find your way in to the area and there is only one way out. This makes it a quiet safe place to live.

5) Safe means you can walk around any time of the day and feel comfortable.

6) Friendly neighborhood, people stop to say hello, you cannot help but make new friends unless you want to be a hermit.

For more information on this area or any other area in SW Florida, contact me Bob Forman Realtor with MVP Realty 7 days a week, 239-322-7672. Thank you!

To see all property for sale in SW Florida, try my website www.buyfloridare.com

Jan. 23, 2018

2017 Naples Real Estate Market Report

Naples Real Estate Market Showed Resilience & Strength in 2017

NABOR® Releases Annual Market Report for 2017

 

Contacts:  

Brenda Fioretti, NABOR® Media Relations Committee Chair, (239) 597-1666

Marcia Albert, NABOR® Director of Marketing, (239) 597-1666

 

Naples, Fla. (January 19, 2018) - Home sales increased 4 percent in 2017 and the median closed price increased 3 percent, according to the Year End 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The report also showed heightened activity in the high-end market, with closed sales of homes in the $2 million and above price category skyrocketing 20 percent in 2017. 

 


 

"Real estate sales are based on many other economic factors," said Tom Bringardner, Jr, President and CEO of Premier Commercial. "In 2017, we saw above average employment rates, low inflation, record stock market activity, and increased consumer confidence. Looking into 2018, there are additional reasons for buyers to be optimistic including new tax cuts on the horizon and continued growth of their investment portfolios."

 

Adam Vellano, West Coast Sales Manager, BEX Realty - Florida, agrees with Bringardner and also points to the unusually frigid weather in northern states recently, which he says will encourage more people to head south and buy homes. "Now is a great time to diversify and invest in property because there's still plenty of inventory and prices have remained stable."

 

This may not always be the case as indicated by Cindy Carroll, SRA of Carroll & Carroll Appraisers and Consultants LLC, who advises real estate agents to start watching closely for pockets that may soon show an increase in value. "Overall we had a solid year, but there are hints that change is coming with opportunities for increasing values in market sectors with tightening inventories."

 

According to Vellano, pending sales during the 3rd Quarter increased 5 percent (12-months ending August 2017), while pending sales at the end of the 4th Quarter increased 2 percent (12-months ending December 31, 2017). "We can only imagine how much more activity the statistics would reflect if the market had not been shut down for nearly five weeks because of a major hurricane in 2017."

 

The year-end report showed a 4 percent increase in closed sales to 8,815 in 2017 compared to 8,510 in 2016. Many brokers, including Budge Huskey, President of Premier Sotheby's International Realty, think, "4 percent growth is great considering we had a hurricane and we lost over a month of real estate activity."

 

"Between December of 2015 and December of 2016, overall market inventory increased 54 percent; between December of 2016 and December of 2017 overall inventory has decreased 11 percent. The single family and condominium markets are well positioned with about 7.5 months of supply in each," said Carroll.

 

"Other areas in Florida, like Tampa Bay, have less than 2 months worth of inventory," said Vellano.

 

Properties priced below $300,000 experienced the fewest days on market in 2017. Some broker analysts reported that they saw many of these properties go from list to close in less than 10 days. Inventory continued to struggle in the low end of the market making options difficult for buyers looking for single-family homes in this price range. In fact, 1,265 of the 1,554 available properties in the $300,000 and below price category were condominiums.

 

"The shining star in 2017 was condominiums in the $1 to $2 million price category," said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty. "This category had a 28 percent increase in pending sales and a 14 percent increase in closed sales."   

 

The NABOR® Year End 2017 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® Year End 2017 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

 

CATEGORIES

2016

2017

CHANGE

Total homes under contract (pending sales) (year/year)

8,903

9,121

2%

Total closed sales (year/year)

8,510

8,815

4%

Median closed price ((year/year)

$320,000

$330,000

3%

Median closed price >$300K (year/year)

$520,000

$514,000

-1%

Total active listings (inventory)

5,946

5,491

-8%

Average days on market 

89

104

17%

Single-family closed sales (year/year)

4,268

4,347

2%

Single-family median closed price (year/year)

$400,000

$418,000

4%

Single-family inventory

3,015

2,685

-11%

Condominium closed sales (year/year)

4,242

4,468

5%

Condominium median closed price (year/year)

$253,000

$263,000

4%

Condominium inventory

2,931

2,806

-4%

 

Geographically, condominiums in North Naples were the biggest sellers in 2017. Closed sales in this region increased 17 percent, while pending sales increased 15 percent.

 

How homes are purchased continued to shift in 2017 with an increase in conventional sales (properties with a mortgage). According to Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., "Only 54 percent of home sales in Naples were cash buys in 2017 compared to 69 percent in 2013. Many factors play into this trend including the fact that we have more end users and fewer investors. Also, a buyer's ability to lock in a low interest rate allows them to continue to enjoy the high performing stock market, which had a 25 percent increase in 2017."

 

To ensure your next sale or purchase in the Naples area is a success, contact a REALTOR® on Naplesarea.com.

 

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 6,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

  

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

 

View December 2017 Market Statistics

View 4Q 2017 Market Statistics

View Year End 2017 Market Statistics

  

To view the entire report, visit www.NaplesArea.com

 

 

 

Nov. 16, 2016

Village Walk Bonita Springs, Florida

Village Walk Bonita Springs is like a city in a city or more accurately a village inside a city.  Not to say it is over populated because it is not. But instead visualize a comfortable gate community located east of I75 at the Bonita Beach Road exit. This makes it located under 15 minutes from RSW our local major airport and under 20 minutes from walking on the beach. Okay, back to the wonderful features of Village Walk. Inside this community you will find a resort style pool, a lap pool, a bank, post office, hair salon, gas station, car wash, restaurant, tennis courts, children's pay are and much more, get the picture? In respect to the different living options, you will find single family homes as little as around 1400 square feet to larger stand a lone homes around 2500 square feet, attached villas that give you the feel of a single family but are not and two story townhomes with detached two car garages, these three bedroom townhomes are a bit over 1800 square feet and feature two master suites in their very comfortable layouts.  This community has so many intersecting walkways with bridges over the vast amount of lakes that you can walk or bike ride anywhere fairly easily and quickly. All roads and walkways lead to the aforementioned "town center" with all of its wonderful amenities.

Aug. 24, 2016

Should I Buy & Rent My Naples or Bonita Springs Property?

Should I Buy & Rent My Naples or Bonita Springs Property? See all property www.buyfloridare.com

I have been asked this question countless times and the answer is always answered with a couple questions? Will you mind someone else using your property while you are not in town? Would want to furnish and rent seasonally or rent it annually unfurnished? Based upon those answers I can properly formulate my response. If my buyers does not see themselves using the property at all over the next one to five years I would suggest an annual rental, less to deal with and much less wear and tear on the property. This may also bring the best return on investment unless my buyers are purchasing a higher end property that will rent for 8-20,000 per month and be rented 6-12 months of the year. A prime example for an annual unfurnished rental would be a condo or home purchased in the 200,000-400,000 price range which should bring in 1200-3000 per month with tenant paying all utilities. My annual rental customers on average are getting a 10% annual return. In a seasonal rental the owner typically pays the utilities. If you are buying in a higher end community or very close to or on the beach, you probably will be better off in a seasonal rental. Some of the condos on or near Ft. Myers beach, Naples, Bonita Springs or the nearby islands offer weekly rentals which are managed by the community staff and bring great return on investment. I have seen seasonal rentals as high as 20% ROI. To speak with me personally about buying and renting or with any SW Florida property or area questions, contact me 7 days a week.

Bob Forman 239-322-7672 bforman@buyfloridare.com To see all SW Florida property for sale, go on my property website www.buyfloridare.com.

 

Posted in Tips for Buyers
Aug. 10, 2016

Bonita Springs Pool Homes under 300,000

There are as of 8/10/16 eight Bonita Springs pool homes under 300,000, see them at www.bonitalistings.com. Two of these pool homes are townhouses in gated communities, one is an attached side by side in Village Walk of Bonita Springs and the other five are detached single family homes. One of those five is a foreclosure priced at 294900 but over 2700 sq. ft. For more information on any of these properties or any property in SW Florida, call Realtor Bob Forman with MVP Realty 239-322-7672. See all Bonita Springs property for sale. www.bonitalistings.com.

Aug. 3, 2016

New Law Will Help Floridians Buying Condos

Is this really a benefit?  I think the "new law will help Floridians buying condos. www.buyfloridare.com to see all condos in SW Florida. Also, it will also help condo sellers get out of their property and perhaps buy a single family home. The largest issue with buyers obtaining an FHA loan for a condo was the requirement of 50% of the specific community being owner occupied, very difficult in Florida especially in Naples and Bonita Springs which have so many snow birds or seasonal visitors. The new law calls for 35%, still may be difficult in some communities but definitely obtainable in most. If you think that it is time ti buy, you are right! With interest rates so low and minimal down payment requirements, those that procrastinate may regret it for years to come. Call me now, I will patiently explain the process and guide you through your first home purchase.

 

Aug. 2, 2016

Want To Sell Your Bonita Springs property?

Want To Sell Your Bonita Springs property? www.myfloridapropertyvalue.com. In about a minute you'll have a realistic value of your home. Want live help? Contact Realtor Bob Forman 7 days a week. 239-322-7672

Let's put a sold sign on your property.for sale sign