Naples, Bonita Springs & Estero Real Estate Industry News & Updates

Lying like a sunlit jewel in the Gulf of Mexico, just off Florida’s southern tip, is a six-mile long stretch of paradise. Marco Island is the largest of Florida’s ten thousand Islands and is the perfect destination for those looking for a quieter pace of life. There is a wide choice of properties for sale, from top of the range mansions to small but perfectly formed apartments. Whether you decide to stay in this gorgeous destination year round or just want a winter hideaway, Marco Island offers beauty, community and fun. If you want to sample Island life for yourself, you’ll always receive a warm welcome.[...] Read More

The real estate market in Southwest Florida is on fire and that includes Marco Island.  The buying trend started in April 2012 which was the strongest month for sales since February 2005.  And sales have not stopped this summer.  Traditionally summer months are quiet for real estate in the Southwest Florida area.  But, not so this year.  Summer real estate sales in Marco Island have been the strongest summer months since 2005.[...] Read More

Statistics for Marco Island-only properties from the Multiple Listing Service continue to show high sales activity.[...] Read More

Statistics for Marco Island-only properties from the Marco Island Area Association of Realtors Multiple Listing Service continue to show high sales activity.[...] Read More

MARCO ISLAND — A rat-infested Marco Island home with screens flapping in the wind and a sinking seawall is what Charlie Vollmer sees as he looks next door at a foreclosure property.

Vollmer, acting as an unpaid property manager for a neighbor, removes debris and works to protect his own yard from sinking further into the canal because of the failing seawall. He’s adding privacy shrubs between his home and the one next door that was abandoned two years ago.

Other caretakers for the property include Marco Island Code Enforcement officers and Realtor Andrew Delgado, working on behalf of the Bank of New York. Delgado arranged lawn mowing while city workers temporarily secured that seawall to protect Vollmer’s seawall from falling into the drink.

Such conditions aren’t isolated to Seminole Court on Marco Island.

Pools that have turned green and stinky from algae, mounting trash and debris, broken windows, and lawns with tall weeds are reported in many communities throughout Southwest Florida. Cape Coral was dubbed the foreclosure capital of the nation throughout 2008 and still is grappling with blight caused by foreclosure on properties, though it recently fell to No. 6 in the nation for its foreclosure rate.

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By LAURA LAYDEN Naples News

MARCO ISLAND — A Marco Island businessman is giving new meaning to the word freebie.

For three days, he ran this advertisement in the Naples Daily News under free merchandise: “Free empty house on Marco. You remove from lot.”

He’s gotten dozens of calls, but no takers yet. While the home is free, it could be quite costly and complicated to move.

The offer comes from Bill Schmitz, who originally planned to renovate the 1,500-square-foot home, which has two bedrooms and two bathrooms.

After getting caught up in permitting, he decided to try giving the house away.  First, he started the job without permits. It led to a stop work order.  After applying for permits, he learned the home had to be his primary residence if he was going to renovate it as an unlicensed contractor. He then found out he wouldn’t be able to sell the home right away after he completed the work as the “owner-builder.”

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By QUENTIN ROUX Naples News

Leading by example, a family new to Marco has revitalized their neighborhood by sprucing up a near-derelict foreclosure home they bought in 2008.

And, the Martinez family — of 960 Beaver Court — hopes their efforts will spread across the length and breadth of the island.

“If the banks that own foreclosures could be pressured to do the same,” Xiomara Martinez said, “it could benefit the whole community and the real estate market on the island.”

It’s taken the family about seven months so far to revitalize the house and property, and in that time neighbors have responded with projects of their own.

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A draft Marco Island city budget for 2010 calls for an estimated 26 percent increase in the tax rate, but with declining home values, the bottom line might not be that bad for property owners.

The tax rate proposed by City Manager Steve Thompson in the preliminary budget is $1.75 per $1,000 of taxable property value.

The 2009 tax rate was $1.39 per $1,000 of property value. The rate proposed by Thompson equates to an increase of about 26 percent.

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The Marco Island Area Association of Realtors wants homebuyers to know the island’s real estate industry is improving.

The association’s president and executive director visited Noontime Rotary of Marco Island on July 9 and spoke about recently released home value numbers.

Neal hopes to change people’s perceptions about the island.

“We are finally getting close to the bottom for us,” said Charlie Neal, president of the association representing Realtors. “We are seeing a lot of activity on the island and that’s a good sign.”

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When buyers and sellers are looking at the real estate market, they often focus on national reports of the overall market neglecting the fact that each market is unique. Even within local markets, we see different properties moving at a different pace than other areas of the market.

Figure 1a – Marco – Four Year Sales History with May 2009 Pending Sales

Based on information from the Marco island Area Association of Realtors for the period 5/1/05 through 5/21/09.

On Marco Island, reference Figure 1a., shows the following information:

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Are you looking to buy a new home? Are you thinking that now’s a great time to find bargains?

A qualified real estate professional will be able to show you the best values in homes whether they are distressed or not, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender.

View Marco Island Homes for sale

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