Nov

Bonita Springs Real Estate Market Report – October 2008

Bonita Springs & Estero Real Estate Numbers

(psst. if you don’t see the Love Shack video up above click here)

Here you go, your bona fide, 100% authentic Bonita Springs real estate market report with a side of Estero real estate market report. I’m only about two weeks late. Better late than never, right?

So what’s been my hold up? Just busy with family, Thanksgiving, work, writing and stuff. Nothing too earth shattering to write about, well, maybe. I just can’t talk about it yet. Life is always full of changes and surprises and they don’t seem to be slowing anytime soon.

As for your local real estate market report…it’s prepared the same way I always do it. Very general by style of building not price:

Single Family/Villa Homes
Low Rise/Mid Rise Condos
High Rise Condominiums
Attached Villa Homes
Manufactured Homes

Don’t worry, at the end you’ll get links to all of the other Bonita Springs Florida market reports so you can verify for yourself if the inventory is increasing or decreasing.

There are a few stellar real estate market reports or maybe we can just call them indicators that you might also want to read:

Will Banks Lend Money For Bonita Springs Real Estate? Which was also my Naples News column for 11-29-2008. Plain and simple how are those sold properties paid for is the question and the column lets you know exactly how many were cash, financed, you name it. If you’re one of the blowhards that sent the email about me “skewing” numbers to make things look good, go pack sand. Our MLS *only* lets closed sales be recorded with point and click answers of how the home was financed. Guess what the only options are?

Cash

Conventional Mortgage

FHA Mortgage

Owner Financing

Other

There are a couple thousand real estate agents in Bonita Springs, Naples, Estero, Fort Myers, Lehigh, Cape Coral and the likes that can verify the numbers.

The other story you should read is about our foreclosure and short sales that are currently for sale. Every wonder how many foreclosures and short sales Bonita Springs and Estero really have? It’s all right here:

How Many Foreclosures & Short Sales in Southwest Florida?

Read up and then take a look at how things are going in Bonita Springs and Estero Real Estate for the month of October 2008. First up is the existing inventory, absorption rates for Bonita Springs and Estero. This means if no other homes or condos ever get listed ever again. This is an estimated time frame it would take to sell off existing inventory that is currently for sale. We’ve consistently improved our inventory for the last six months or so. This month we’re sort of steady with the rates of last month. There are a few sectors just a tad over last month but that could be due to the date the sales data was collected. It wasn’t a huge diff.

Our units sold for October are slowly improving or holding steady for the most part. Single family homes in Bonita Springs and Estero took a jump over last year and definitely over ’06. Condos are holding steady. Though down slightly they’ve been moving steady so it may not be a long term trend. Towers are still limping along. If you’re a seller of a tower you need to adjust your prices or you’ll be sporting those HOA fees for a few years, you’ve got over 2.5 years of inventory.

There you have it, your better late than never market report. If you have questions or need clarification just email or call and I’ll get you squared away. Thanks for reading!

Chris