SW Florida Real Estate News

Updated Buyer and Seller advice as well as lifestyle information for SW Florida areas including: Cape Coral, Ft Myers, Ft Myers Beach, Sanibel, Captiva, Bonita, Estero, Naples, and Marco Island. Links to the SWFL MLS / FGC MLS allow home buyers to search for homes for sale as well.

Oct. 31, 2016

Affordable Homes in Cape Coral Florida

What does an entry level single family home sell for in Cape Coral?

  We would define an entry level home as a home in the lower price range in our market which might be affordable for first time buyers. Since SW Florida real estate is attractive for retirees, an entry home in our market may also be a home which could be an affordable choice for retirees. 

   The number of homes sold through SWFL MLS for under $150,000 have declined in Cape Coral over the past three years due to the increasing demand for low cost homes increasing the sale prices.

History of MLS Home Sales under $150,000

2014    1946 sales or 162 homes per month

2015    1387 sales or 116 homes per month

2016     405 sales or 45 homes per month (through Sept)

  A representative home from 2014 which averaged a sale price of $124,700 in 2014, sold for $170,000 in 2016. 

 Under $150,000 today

    When searching SWFL MLS, there are only 4 total active single family homes ready for occupancy in Cape Coral today under $150,000. They are typically older, small and wood framed homes. 

Price Range $150,000-$175,000

   There are 65 active MLS homes for sale in Cape Coral priced between $150-$175k. Many of these homes may require some updating but are homes a buyer can readily move in to.  

·        Lower priced homes in range are smaller (1100-1300 sq. ft.)

·        Higher priced homes in range are larger (1400-1700 sq. ft.)

Search for Cape Coral Homes under $175,000 

As is usual with SW Florida real estate, there are price differences with location and availability of city utilities.    

Cost of buying vs renting a SW Florida House

  Today in Cape Coral, rent for a 1400 sq. ft. home runs from $1200- $1300 a month without a pool. A mortgage payment with taxes and insurance on a $165,000 home with an FHA 3.5% down will be approximately $970 per month. Even budgeting some money for maintenance, it can make sense to buy vs rent. 

   For any questions about SW Florida real estate call:

 Ross Winchel

239-898-1214 Ross.Winchel@gmail.com

Broker/Team Leader

Koffman and Associates

Century 21 Sunbelt Realty

 

Oct. 21, 2016

Facts About Cape Coral Pool Homes and Cost vs Value

We are blessed in SW Florida with weather that allows people to enjoy pools at their homes. People coming from other parts of the country or the world certainly don’t enjoy that benefit. About 50% of the homes which sell in Cape Coral have pools.

                                       SW Florida Pool

Are pools worth the investment for a SW Florida home?

 Our SW Florida MLS sales data tells us a lot about that question - are pool homes worth the investment. In the past 6 months, medium sized homes with pools sold for more than similar sized non pool homes.

  • Smaller homes 1400-1600 square feet sold for $25,000 more.
  • Medium size homes 1600-2000 square feet sold for $40,000 to $43,000 more.
  • Larger homes 2200-3000 square feet sold for $57,000 more.

  This data is for all types, sizes and ages of in ground pools. Newer, larger and more expensive pools will add higher value than the average and smaller than average pools would sell for less. With the cost of a basic pool and cage about $30,000 and nicer pools $40,000 and upward, a new pool with caged enclosure will pay for itself in resale value.

   It is apparent, from the average sales data above, that putting a $50,000 pool on a small lower value home might not be as financially wise as putting a $50,0000 pool on a large higher value home. It is always smart with a major home improvement to consider value added as well as your enjoyment of the improvement.

 About 50% of homes listed for sale in our market have pools, so there are normally homes to see with existing pools.  For buyers who have the cash available, it can make sense to find a good non-pool home in a good area that they like and add the pool. It can definitely increase home choices.

Visit our website with the link below to view pool homes for sale in the Cape Coral real estate market.

Cape Coral Pool Homes

Our website has great resources to Search for HomesGet Free Automated Home Valuation and Get Custom and Area Market Reports

 

For any information about SW Florida Real Estate please call.

Ross Winchel

Team Broker, Koffman and Associates

Royal Shell Real Estate

239-898-1214    Ross.Winchel@gmail.com

Koffman and Associates - Royal Shell Real Estate

Oct. 7, 2016

September Home Sales Market Update

September Market Trends for Single family homes in Cape Coral FL

We have just completed our September market update for Cape Coral and would like to share the trends and share our observations. We look at 4 month rolling trends. In other words, we compare a 4 month average of sales data with the same four months of the previous year. We find that gives us a better view of real trends versus month to month variation.

 

Median Sales Price

Sales Volume

Months of Inventory

       

Cape Coral Off Water Homes

up 15%

down 10.3%

4.3

Cape Coral Gulf Access Homes

up 7.2%

down 11%

9.5

Cape Coral Fresh Water Homes

up 11.7%

unchanged

6.1

 Off Water Cape Coral Homes

Homes which are not on canals are the most affordable homes and therefore most in demand. Inventory has been shrinking in lower cost homes. There are currently only 18 active listings priced below $150,000. Sales volumes are down from last year likely due to increases in price. You will notice above that we just have 4.3 months of inventory in off water homes.

Gulf Access Cape Coral Homes

Cape Coral has many miles of canals which provide boating access to the Gulf. Naturally, these homes are the highest priced homes in Cape Coral.  This month the median sale price was up compared to same period last year. We do not know yet if that will be a trend as the previous all had less than a 3% year over year rise and we saw a 11% decrease in sales volume. We have seen increases in inventory with current supply equaling 9.5 months of inventory.

Fresh Water Cape Coral Homes

Freshwater homes are homes on canals which do not lead to the Gulf of Mexico. They provide limited boating but do along a water view for a homeowner. Typically, a fresh water home value will lie somewhere between gulf access and an off water home. The median price of fresh water homes has consistently been averaging about 10% year over year price increase. The sales volume of fresh water homes is unchanged from last year and we have 6.1 months of inventory.

    We have great tools on our site to:

    Search for Homes

    Get an instant estimated home value

    Get our market history charts

For more information or help with any of your real estate needs call or email

Ross Winchel 

239-898-1214  Ross.Winchel@gmail.com

Broker Associate  Koffman and Associates

Century 21 Sunbelt Realty

Sept. 30, 2016

SW Florida Real Estate trend Charts

Latest Real Estate Trend Charts August 2016
  Here is a link to our latest trend updates through August for Cape Coral real estate. Inventory for single family is down by approximately 2% since same period last year. As was true last month, the inventory is tightest in lower priced homes. Sales volume for single family homes is down 5.1% compared to the sales levels a year ago.
Off water homes median sale price is up 15.4% over last year (4 month average vs last year). Reduced inventory is pushing up prices. The sales volume was down 4.6%. Inventory of off water homes is the tightest with a 4.1 month supply. This is what continues to fuel the year over year median price increase.

                                   Offwater home trends
Freshwater homes median sale price is up 11.2% over last year. Volume was up 15.5%. There is currently a 6.2 month supply of homes. 

                                    Freshwater home sales
Gulf access homes median sale price is up 2.2% over last years same 4 month period. Sales volume was down 13.1%. The gulf access home segment of our market has the highest unsold inventory rate with 9.2 months of inventory. This inventory level has slowed the rate of home sale price increase.  

                                    gulf access homes
  We believe you will find our trend charts very informative.  Click on the link below to access our Real Estate Resource Site to view this series of market component trend charts including trend charts for land sales.

  Call Ross Winchel at 239-898-1214 or email at Ross.Winchel@gmail.com

 Broker/Associate

Koffman and Associates

Century 21 Sunbelt Realty

Search All the MLS Homes

Free Instant Home Valuation

View or Create Market Reports

Sept. 30, 2016

Lee County Property Tax Questions

Property taxes in Florida can be a bit confusing. A common question we get is why are the taxes so high or so low on a particular property or how much are my property taxes going to be? The answer involves a number of factors.

  1. Individual assessed value of a home, which is different from sale price or asking price. Every home is assessed separately not based on its sale price but on formulas used by the county appraiser’s office. We find almost every home is assessed lower than actual market value but every home is different. We have seen homes assessed values vary from 70% to 90% plus of current market value. 
  2. Property tax exemptions may be in place on the home:
    • Homestead which provides up to $50000 in reduction of taxable property values. This for resident homeowners. Homes which are not homesteaded will have higher tax bills.
    • Special exemptions may be in place for certain seniors or persons with permanent disabilities. These can further reduce taxes on a specific home.
  3. The taxable value on a home which has been homesteaded for a number of years is generally lower than one which has not been homesteaded. A homesteaded home can only increase in taxable value by 3% a year or the consumer price index whichever is lower. For example, if home values go up by 10% taxable value only goes up from less than 1% to 3% depending on cpi that year. A new buyer will pay the full assessed value less any exemptions they qualify for. An exception is a buyer selling a Florida homesteaded residence may transfer all or part of their homestead benefit to their new home.
  4. There is up to a year delay in assessment changes. For instance, a new construction home built in 2016 will be taxed on lot tax value until 2017.
  5. Some homes have special assessments such as utility expansion fees which are added to the tax bill. These can add several thousand dollars per year to a tax bill. These vary in amount and length of payment depending on the area the home is in. Not all homes have these special assessments.

 

  How much will my taxes be when I buy a home?

    The Lee county property appraiser site has a tax estimator which can you use or call us to talk. Generally, we find taxes to be about 2% of the taxable value and taxable value 80-90% of market value less exemptions you qualify for. Special assessments if any are added to that.

For questions about taxes or real estate in general call:

Ross Winchel

Broker/Associate

Koffman and Associates

Century 21 Sunbelt Realty

239-898-1214

Ross.Winchel@gmail.com

 Visit our site links below for these great real estate tools

Search All the Homes in MLS

Free Instant Home Valuation

View and Create Market Reports

Posted in Lee County Taxes
Sept. 18, 2016

Luxury Gulf Access Home for Sale

 

 

Palaco Grande Direct Gulf Access Home for Sale

1935 SE 32nd Ter, Cape Coral FL 33904

OPEN HOUSE TODAY 09/18/16 11-3

MLS #: 216055138Ariel view of 1935 SE 32nd Ter

Price: $898,995

3 Bedrooms    2 Baths

2,226 Square Feet

Built 1995

 

Location, Location, Location

Wonderful location and views of intersecting canals and river, on the east side of Del Prado Blvd. You can dock your boat and jet ski on the side of the house and be out on the Caloosahatchee River in just a few minutes. Restaurants and shopping are conveniently located on nearby Del Prado. This home is tucked away on a cul-de-sac street. 1935 SE 32nd Ter front

Layout

The beautiful front doors of this home open into the living room and dining room, but what you'll notice first is the view of the pool and canal via the sliders. The private ensuite master is in the left rear of the home past the breakfast nook. The two guest rooms and bath are on the right side of the home. The master bedroom, master bath and one of the guestrooms have a 1935 SE32nd Ter living roompanoramic water view from the bay windows. 

The whole house has been updated with granite, stainless appliances, impact resistant windows, tile, new roof, and more!

Enjoy outdoor living with spacious under truss lanai, pool, captain's walk, and tiki hut on large deck on canal. 1935 SE 32nd Ter pool


 

Palaco Grande Direct Gulf Access Home for Sale. Call today for your personal showing...615-504-1185.

 

Check out this current list of all direct gulf access homes for sale in Cape Coral.

If you’re in the market for real estate and want information on buying or selling a home or condo in Cape Coral, contact Ross Winchel at 239-898-1214 or Jill Winchel at 615-504-1185. We are both Realtors with Koffman and Associates at Century 21 Sunbelt Realty. You may also click on a link to start your search:

Cape Coral Homes for Sale

Direct Gulf Access Homes for Sale

Palaco Grande Direct Gulf Access Home for Sale

Posted by Jill Winchel

Aug. 22, 2016

Beautiful Day on Sanibel Island

 

Beautiful Day on Sanibel Island

 

 

Find your piece of paradise here...


Sanibel Island Condos for Sale

Sanibel Island Homes for Sale

 

Please contact Jill Winchel 615-504-1185 or Ross Winchel 239-898-1214 if interested in buying or selling on Sanibel Island. We are both Realtors with Century 21 Sunbelt Realty, Koffman and Associates.

Aug. 3, 2016

New Gas Station in Southwest Cape Coral

 

New Gas Station in Southwest Cape Coral

Posted by Jill Winchel, Realtor at Century 21 Sunbelt Realty

7 11 Gas 

Did you know...?

the parking lot at Seven Eleven at the intersection of Chiquita Boulevard and Gleason Parkway is going through a transformation. Underground tanks are being installed in order to sell gas in the near future. This convenient location is also home to Lelulo's Pizza and Dollar General.  

View my blog for more info on Southwest Cape Coral

Are you interested in buying or selling in southwest Cape Coral? That's my neighborhood and I would be happy to help you search and purchase your dream home there. Contact me at 615-504-1185 or email JillWinchel6@Gmail.com. I am a Realtor with Century 21, Sunbelt Realty, Koffman and Associates.

You may also click on a link to start your search:

Southwest Cape Coral Homes for Sale

Southwest Cape Coral Lots for Sale

New Gas Station in Southwest Cape Coral

July 22, 2016

June 2016 Florida Gulf Coast MLS Market Report

Florida Gulf Coast MLS Lee County Real Estate Market Report

June 2016 Florida Gulf Coast MLS Market Report

Click for June 2016 Florida Gulf Coast MLS Market Report

  • June 2016 saw yet another drop in the number of closed sales in Lee County, but also another up-tick in prices, according to the latest data released today by Florida Realtors®.
  • Last month, there were 1,177 Closed Sales on Single Family Homes, compared to 1,342 in 2015. That is a drop of 12% year-over-year. Townhouse and Condo Closed Sales also dropped, almost 14% year-over-year.
  • Median Price for Single Family Homes in Fort Myers Beach jumped 66% - from $387,750 to $644,000.
  • The number of Active Listings once again shot up in June. Single Family Home listings were up 16% year-over-year, while Townhouses and Condos jumped 39%.
  • Median Sale Price for a Single Family Home in Lee County continues to climb, however.
  • There was nearly a 10% jump from June 2015 to June 2016. The Median Sale Price last month was $230,500. 

Detailed June 2016 Lee County Home Sales Reports

June 2016 Single Family Home Sales Summary Report

June 2016 Single Family Home Sales Detail Report

June 2016 Townhouses and Condos Sales Summary Report

June 2016 Townhouses and Condos Sales Detail Report

 

 

Latest Cape Coral Real Estate MLS Market Report

Monthly Koffman & Associates Real Estate Activity Charts

Koffman and Associates charts are updated monthly and include the following chart categories (click for details):

July 13, 2016

Peninsula Pointe Cape Coral

Peninsula Pointe Cape Coral

Peninsula Point sign

SW 28th Pl is an exclusive, quiet, street in Southwest Cape Coral, at the end of El Dorado Home on SW 28th PlPkwy W. Homes on this cul-de-sac road on the South Spreader Waterway enjoy a wide canal view and beautiful sunsets due to rear western exposure. The mangroove preserve that runs alongside the western side of the city is on the other side of canal. Homeowners enjoy watching wildlife and plenty of boats as they make their way out through the Chiquita Lock in Cape Harbour to the Gulf. The boat ride to the lock is about 1.5 miles. 

Homes on other side of the street also have a wide Gulf access canal in their backyard but enjoy eastern exposure and morning sun. The Placentia Canal is just shy of 200 feet across. 

Only a few vacant lots remain on this palm tree-lined street. New construction on SW 28th PlView current listings on the links below.

Homes for sale in Peninsula Pointe 

Lots for sale in Peninsula Pointe

Homes for sale in Southwest Cape Coral

View my blog for more info on Southwest Cape Coral

Are you interested in buying or selling in southwest Cape Coral? That's my neighborhood and I would be happy to help you search and purchase your dream home there or sell your home for top dollar. Contact me at 615-504-1185 or email JillWinchel6@Gmail.com. I am a Realtor with Century 21, Sunbelt Realty, Koffman and Associates. Posted by Jill Winchel.

Peninsula Pointe Cape Coral