Another Bay Forest Sale
To see how I present a property to the market Go HERE to see the photos and videos of the above property.
And Go HERE to see details of the one that is still available in La Jolla. (more…)
Bay Forest: 2 more Pending Sales, Boardwalk latest, and Open Houses
2 more properties have gone under contract this week as work continues on the new boardwalk.
Go HERE to read the latest progress report.
Bay Forest Residents enjoy over two miles of walking paths, extending through mangrove preserves and into estuaries of the Gulf.
Go HERE to visit the Bay Forest website
Go HERE to read the latest edition of the Bay Forest Bugle (more…)
Bay Forest Update and Open Houses
There are 10 properties currently Under Contract in Bay Forest, supporting my argument that this is a great time to buy, especially now that construction of the new $4.5 million Boardwalk is finally underway.
Bay Forest Residents enjoy over two miles of walking paths, extending through mangrove preserves and into estuaries of the Gulf.
There are 10 properties currently Under Contract in Bay Forest, supporting my argument that this is a great time to buy, especially now that construction of the new $4.5 million Boardwalk is finally underway.
Bay Forest Residents enjoy over two miles of walking paths, extending through mangrove preserves and into estuaries of the Gulf.
Go HERE to visit the Bay Forest website
Go HERE to read the latest progess report on the Boardwalk
Go HERE to read the latest edition of the Bay Forest Bugle
3 Tennis, 3 pickleball courts, bocce, shuffleboard, fitness center and much more cater to active lifestyles, while the clubhouse, which also has a library, serves as the hub for social events and indoor activities.
15455 ROYAL FERN LANE N, 22 (LA JOLLA)
OPEN HOUSE TODAY 12-2
SUNDAY 1-4
3 beds +den, 3 full baths, garage, impact windows/shutters, bird’s eye view of the fountain in the lake. Totally updated throughout with $275,000 of high-end, custom fixtures.
This Villa does not need a Realtor’s superlatives – just look at the photos, watch the video, and imagine living here.
Go HERE to view all the photos, video, floor plans (including a 3D tour).
Call for a private showing if you can’t make the Open Houses.
Please contact me for a market report that includes properties in your area which were recently listed or sold.
Andrew.Oliver@Compass.com
It’s been an active week in Bay Forest!
2 more properties have gone under contract this week and 2 sales have closed, as work continues on the new boardwalk.
Go HERE to read the latest progress report. (more…)
Bay Forest Open Houses Memorial Day weekend
There are 10 properties currently Under Contract in Bay Forest, supporting my argument that this is a great time to buy, especially now that construction of the new $4.5 million Boardwalk is finally underway. (more…)
Exciting News from Bay Forest – and Open House TODAY 12-4
“WE ARE EXCITED TO ANNOUNCE THE BUILDING PERMIT TO START CONSTRUCTION ON THE BOARDWALK WAS ISSUED TODAY. URS WILL BE ONSITE MONDAY, MAY 20TH AND WORK WILL RESUME.”
There are 10 properties currently Under Contract in Bay Forest, supporting my argument that this is a great time to buy, especially now that construction of the new $4.5 million Boardwalk is about to resume. (more…)
Assessments and Reserves
Costs
Every home on the planet needs maintenance, repairs, upgrades, renovations and improvements over time. No property is immune from this. Every homeowner knows that when a roof needs to be repaired, it’s wisest not to delay….. keeping a reserve fund for these inevitable costs is essential, whether a single family home or an apartment building.
Options
Owners of homes have two options as it relates to funding bigger cost items: either you build up a ‘savings account’ of sorts by adding a bit extra each month into the kitty to create a reserve fund, or you keep in the back of your mind the knowledge and certainty that at some point you will have to fund a bigger expenditure another way. In condo’s and co-ops that is done via an assessment….eg: A $1 million facade repair is split amongst 100 apartment owners so that each pays a percentage of that cost based on the percentage of the building they ‘own’ based on their offering plan or number of shares.
Financing (more…)
Bonita Springs Q1 2024 Market Summary
For Bonita Springs overall, median prices were broadly stable in the 1st Quarter of 2024, while sales dropped from 2023 levels.
The median Price per Sq.Ft. was also stable, while sales were slower.
(DTO- Days To Offer – the number of days a property is listed before an accepted offer is received.)
Please contact me for a market report that includes properties in your area which were recently listed or sold.
Andrew.Oliver@Compass.com
NAPLES Q1 2024 MARKET SUMMARY
For Naples overall, median prices were broadly stable in the 1st Quarter of 2024, while sales dropped a little from 2023 levels.
A similar, stable trend was seen in the median Price per Sq.Ft., while sales were a little slower.
(DTO- Days To Offer – the number of days a property is listed before an accepted offer is received.)
Please contact me for a market report that includes properties in your area which were recently listed or sold.
Andrew.Oliver@Compass.com
Florida Home Values Skyrocket
The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the U.S. went from around $200,000 to $400,000, according to a new study from Point2.
However, in Florida, it took much less than a decade for home prices to achieve a twofold increase.
Average home values across Florida have undergone a seismic transformation, doubling in value within the short span of just six years. This surge, saw Miami’s average home price soar from around $290,000 in 2018 to the current median of $583,000. In Tampa, homes went from $213,500 in 2018 to $430,000.
For their study, analysts looked at historical data to calculate how many years it took for home prices in the 100 largest U.S. cities to double — and Tampa tied with Miami for having the third fastest price doubling among the country’s largest cities.
The trend of rapid price doubling extended to other big Florida cities, with home prices in St. Petersburg, Orlando and Jacksonville, increasing twofold in the past six to eight years.
Median home prices in St. Petersburg doubled within 6.6 years. In Orlando home prices doubled within 7.5 years — and in Jacksonville it took 7.9 years to see a twofold increase.
The research notes that, “Fluctuating mortgage rates, steep property prices, or supply deficits are no new challenges. But they have never unleashed such a rapid-fire onslaught on homebuyers in the U.S. as they have in today’s housing market.”
Among the top 10 states attracting new construction buyers, Florida draws significant attention, with approximately one in every eight new construction buyers opting to purchase their homes in the Sunshine State. In November, the U.S. Census Bureau reported that for the year, more than 1.5 million new residential construction projects broke ground across the state — a 9.3% increase from the year prior. (Florida Realtors).
According to my research, Naples was a little closer to the national average, taking around 8 years for prices to double :
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com - AndrewOliverRealtor.com
m 617.834.8205
Licensed in Florida and Massachusetts
BAY FOREST Condo Open House TODAY 1:00 -3:30 PM
Bay Forest has long been a popular community West of 41, between Wiggins Pass and Bonita Beach Road.
The exciting news is that construction of the new $4.5 million Boardwalk has begun. (The seller will pay the final assessment)
Go HERE to see the video and photos for 15405 Cedarwood Ln, 101:
15405 Cedarwood Ln, Unit 101: 2 bed +Den, 2 bath, 1377 Sq Ft: now $370,000
(Bermuda Bay 1)
Open House Sunday: 1:00 – 3:30 PM
Go HERE to view the Bay Forest website, read the latest Newsletter, and watch the 4-minute video of Bay Forest.
Go HERE to see the video and photos for 325 Carinosa Court;
325 Carinosa Court: 3 bed +Den, 3 bath, 2066 Sq Ft: $725,000 UNDER CONTRACT
Contact me for a private showing:
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com - AndrewOliverRealtor.com
m 617.834.8205
Licensed in Florida and Massachusetts
8 new Property Insurance Companies approved to enter Florida market
Following historic legislative reforms designed to promote market stability, eight property and casualty insurers were approved to enter Florida’s insurance market. Ovation Home Insurance Exchange, the most recent approval, joins Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, Orange Insurance Exchange, Orion180 Select Insurance Company, Orion180 Insurance Company, Mainsail Insurance Company, and Tailrow Insurance Companies as newly approved property and casualty insurers.
“Florida’s insurance market continues to strengthen, showing signs recent legislation is having positive impacts to the property insurance market,” said Insurance Commissioner Michael Yaworsky. “OIR remains steadfast in our efforts to stabilize Florida’s insurance market by implementing legislative reforms and recruiting more insurers to the state. We look forward to continuing this work and promoting a competitive market for policyholders.”
In addition to new companies entering the market, OIR approved the acquisition of Florida domestic property and casualty reciprocal insurer, Trusted Resource Underwriters Exchange, to allow the existing company to grow its footprint in the state and expand its underwriting capacity. As a result of OIR’s approval of the acquisition, more than $1.25 billion of capital is being invested into Florida’s property and casualty insurance market.
Citizens Property Insurance Corporation
Citizens Property Insurance Corporation (Citizens) is showing improvement in their financial strength over the previous years. For instance, Citizens’ surplus increased by approximately 17.5 percent from previous years and Citizens posted a net income in 2023 of $746 million compared to a loss of $2.2 billion in 2022. Additionally, Citizens’ combined ratio improved from the previous year from 204.4 percent to 59.5 percent.
As the market continues to stabilize, OIR is seeing a continued interest from authorized insurers in the Citizens Depopulation program. In 2024, OIR has approved 13 companies to assume more than 354,000 policies from Citizens. In 2023, more than 275,000 policies were assumed from Citizens, reducing Citizen’s exposure by more than $113 billion.
Florida Domestic Company Strength (more…)
Bay Forest Open Houses this weekend – PRICE REDUCED
I am hosting two Open Houses in Bay Forest this weekend. Bay Forest has long been a popular community West of 41, between Wiggins Pass and Bonita Beach Road.
The exciting news is that construction of the new $4.5 million Boardwalk has begun. (The seller will pay the final assessment)
Go HERE to see the video and photos for 15405 Cedarwood Ln, 101:
15405 Cedarwood Ln, Unit 101: 2 bed +Den, 2 bath, 1377 Sq Ft: now $370,000
(Bermuda Bay 1)
Saturday: 1:00 – 3:30 PM
Sunday: 1:00 – 3:30 PM
Go HERE to view the Bay Forest website, read the latest Newsletter, and watch the 4-minute video of Bay Forest.
Go HERE to see the video and photos for 325 Carinosa Court;
325 Carinosa Court: 3 bed +Den, 3 bath, 2066 Sq Ft: $725,000 UNDER CONTRACT
Contact me for a private showing:
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com - AndrewOliverRealtor.com
m 617.834.8205
Licensed in Florida and Massachusetts
Mid-April Is Prime Time for Sales
Sellers nationwide will likely see the best conditions for listing prices, buyer demand and sales pace from April 14 to April 20, making it the best time to sell, Realtor.com said.
Realtor.com detailed why the April time period is the best time to sell:
Above-average prices – The prices of homes listed during this week have historically been 1.1% higher than the average week and are typically 10.4% higher than at the start of the year. If 2024 follows last year’s seasonal trend, the national median listing price could be $7,400 higher than the average week, and $34,000 more than at the start of the year.
Above-average buyer demand – The more buyers looking at homes, the better it is for offers and sales. Historically, this week saw 18.4% more views per listing than the typical week, but in 2023 this week got 22.8% more views per listing than the average week during the year. Demand will in part depend on mortgage rates – falling rates may increase spring demand, while steady or rising rates may prompt some buyers to hold off.
Faster market pace – Thanks to above-average demand, homes tend to sell more quickly during this week. Historically, homes actively for sale during the week of April 14 sold 17%, or about 9 days, faster than in the average week. In 2023, this week typically saw homes on the market for 46 days on average, 6 days faster than the year’s average. With inventory levels remaining low, sales may happen more quickly as buyers compete for fewer properties.
Less competition from other sellers – With past seasonal trends likely to persist, there would be 13.7% fewer sellers in the market this week compared to the average week during the year. Active inventory was 14.8% higher in February versus last February, but still 39.7% lower than pre-pandemic levels. This gap means there will continue to be opportunities for sellers entering the market this spring.
Below-average price reductions – Price reductions tend to be lowest in late winter and early spring as buyer activity ramps up. Historically, about 24.6% fewer homes have had a price decrease this week compared to the average week of the year. In 2023, this week saw about 8,000 fewer listings with price reductions compared to the average week of the year. (Realtor.com)
Check out my websites for more real estate related news and reports:
www.OliverReportsFL.com
www.OliverReportsMA.com
BAY FOREST OPEN HOUSES
I am hosting two Open Houses in Bay Forest this weekend. Bay Forest has long been a popular community West of 41, between Wiggins Pass and Bonita Beach Road.
The exciting news is that construction of the new $4.5 million Boardwalk has begun. (The sellers of both these properties will pay the final assessment) (more…)