The real estate on Marco Island is seeing great improvement. Over the Christmas Holiday we had 8 single family homes go under contract and 14 condominiums under contract.
Marco Island currently has 53 condominiums under contract, 56 single family homes under contract, and 7 lots under contract. That is a total of 116 properties under contract waiting to close.
In the 4th quarter Marco Island has had 77 single family homes close, 73 condominiums close, and 21 lots close.
Don't miss your opportunity to take advantage of these record low prices. For more information on real estate and forclosures, please give me a call at 239-404-7471 or visit my website at http://www.realestateonmarco.com/
Wednesday, January 5, 2011
Tuesday, January 4, 2011
Marco Island Real Estate December Sales Statistics
December sales statistics for Marco Island listed below:
Year 2010 2009
NEW LISTINGS:
Single Family 58 47
Condominiums 59 87
Lots 32 23
ACTIVE LISTINGS:
Single Family 469 496
Condominiums 764 747
Lots 328 338
PENDING SALES:
Single Family 18 12
Condominiums 16 25
Lots 5 1
SOLD:
Single Family 33 27
Condominiums 38 47
Lots 10 4
AVERAGE SALE PRICE:
Single Family $618,280 $705,095
Condominiums $408,632 $608,194
Lots $320,790 $212,750
For more information regarding real estate information on Marco Island, visit my website at http://www.realestateonmarco.com/ or call 239-404-7471
Year 2010 2009
NEW LISTINGS:
Single Family 58 47
Condominiums 59 87
Lots 32 23
ACTIVE LISTINGS:
Single Family 469 496
Condominiums 764 747
Lots 328 338
PENDING SALES:
Single Family 18 12
Condominiums 16 25
Lots 5 1
SOLD:
Single Family 33 27
Condominiums 38 47
Lots 10 4
AVERAGE SALE PRICE:
Single Family $618,280 $705,095
Condominiums $408,632 $608,194
Lots $320,790 $212,750
For more information regarding real estate information on Marco Island, visit my website at http://www.realestateonmarco.com/ or call 239-404-7471
Monday, December 6, 2010
Marco Island park trail is under way
It is being called the Linear Park trail, a project that is taking place along the City's easement property that runs between San Marco Road to Andalusia Terrace. It will start at the Raquet Center and connect with Mackle Park and eventually end at Winterberry.
Marco Island Real Estate November Sales Statistics
November sales statistics for Marco Island listed below:
Year 2010 2009
NEW LISTINGS:
Single Family 61 62
Condominiums 95 98
Lots 19 19
ACTIVE LISTINGS:
Single Family 463 509
Condominiums 779 756
Lots 330 346
PENDING SALES:
Single Family 15 15
Condominiums 21 26
Lots 7 3
SOLD:
Single Family 18 27
Condominiums 18 21
Lots 5 4
AVERAGE SALE PRICE:
Single Family $518,922 $744,817
Condominiums $451,033 $345,700
Lots $221,000 $290,625
For more information regarding real estate information on Marco Island, visit my website at http://www.realestateonmarco.com/ or call 239-404-7471
Year 2010 2009
NEW LISTINGS:
Single Family 61 62
Condominiums 95 98
Lots 19 19
ACTIVE LISTINGS:
Single Family 463 509
Condominiums 779 756
Lots 330 346
PENDING SALES:
Single Family 15 15
Condominiums 21 26
Lots 7 3
SOLD:
Single Family 18 27
Condominiums 18 21
Lots 5 4
AVERAGE SALE PRICE:
Single Family $518,922 $744,817
Condominiums $451,033 $345,700
Lots $221,000 $290,625
For more information regarding real estate information on Marco Island, visit my website at http://www.realestateonmarco.com/ or call 239-404-7471
Tuesday, November 23, 2010
Marco Island Charter academy has been approved
The Marco Island Academy has been approved by the Collier Coundy School Board and is scheduled to open in August 2011.
For more information about the new High School on Marco Island, call me at 239-404-7471
For more information about the new High School on Marco Island, call me at 239-404-7471
Tuesday, November 9, 2010
Foreclosure Information
I received this from Ron Webster who is an attorney on our island and is very knowledeable in the Real Estate Industry and I thought I would pass int on.
Foreclosed Purchases…There is no free Lunch!
I am certain most everyone is familiar with the age old adage “if it sounds too good to be true…” yet buyers purchasing foreclosures are falling for this trick every day.
Just because the lender/seller is offering to provide a free title policy does not mean the buyer is protected! Many times there is a reason for it. Would you put the fox in charge of the hen house? Yet every day countless buyers are getting slaughtered with excessive closing fees, useless title policies and many times deeds signed where there is a complete lack of visible authority of the individual signing.
If you are buying, be sure of what you are getting. If the bank did not have the authority to foreclose, they clearly do not have the authority to convey clear title. According to Bloomberg Financial News, Fidelity National Title shares dropped 10 percent last month and First American dropped 5 percent as direct result of increased title claims. In fact American Land Title Association reports there has been a 14 percent increase in the title claims this past year alone.
The only way to truly protect a buyer and assure them they will receive a clear title is to have an independent title search and review of the foreclosure file. The potential for mistakes are plentiful ranging from improper service upon the previous mortgage holder, invalid or improper mortgage assignments, errors in legal descriptions just to name a few.
Insurable title does not necessarily mean marketable title and all Bank/Seller Addendums simply mandate the bank is only responsible to deliver insurable title. Insurable title may come with a host of defects. However, despite these defects, a title insurance underwriter weighs the risks involved and allows the title agent to issue a title policy even though there may be blemishes and potential problems down the road. Ironically, should the value of the property increase dramatically, the buyer is only protected to the extent of the original purchase price.
In a time when foreclosures are looked upon with great scrutiny from the concern of the wide use of MERS(Mortgage Electronic Registration System) and whether they actually own the mortgage and have the ability to enforce it to the issue of robo signers involving temporary help signing off on foreclosure affidavits to title policies from an unknown underwriter filled with exclusions of coverage, it would be insane not to have an independent examination before closing.
Whatever the search and review fees a buyer may encounter would be less than the title insurance they typically would be buying in a third party transaction. A few dollars spent now may save your buyer thousands of dollars in headaches. Protect your buyer, protect yourself and don’t let your buyers kid themselves into thinking because the Bank/Seller is providing a free title policy to accept it. There are no free lunches and it may be time to look at other choices on the menu.
Foreclosed Purchases…There is no free Lunch!
I am certain most everyone is familiar with the age old adage “if it sounds too good to be true…” yet buyers purchasing foreclosures are falling for this trick every day.
Just because the lender/seller is offering to provide a free title policy does not mean the buyer is protected! Many times there is a reason for it. Would you put the fox in charge of the hen house? Yet every day countless buyers are getting slaughtered with excessive closing fees, useless title policies and many times deeds signed where there is a complete lack of visible authority of the individual signing.
If you are buying, be sure of what you are getting. If the bank did not have the authority to foreclose, they clearly do not have the authority to convey clear title. According to Bloomberg Financial News, Fidelity National Title shares dropped 10 percent last month and First American dropped 5 percent as direct result of increased title claims. In fact American Land Title Association reports there has been a 14 percent increase in the title claims this past year alone.
The only way to truly protect a buyer and assure them they will receive a clear title is to have an independent title search and review of the foreclosure file. The potential for mistakes are plentiful ranging from improper service upon the previous mortgage holder, invalid or improper mortgage assignments, errors in legal descriptions just to name a few.
Insurable title does not necessarily mean marketable title and all Bank/Seller Addendums simply mandate the bank is only responsible to deliver insurable title. Insurable title may come with a host of defects. However, despite these defects, a title insurance underwriter weighs the risks involved and allows the title agent to issue a title policy even though there may be blemishes and potential problems down the road. Ironically, should the value of the property increase dramatically, the buyer is only protected to the extent of the original purchase price.
In a time when foreclosures are looked upon with great scrutiny from the concern of the wide use of MERS(Mortgage Electronic Registration System) and whether they actually own the mortgage and have the ability to enforce it to the issue of robo signers involving temporary help signing off on foreclosure affidavits to title policies from an unknown underwriter filled with exclusions of coverage, it would be insane not to have an independent examination before closing.
Whatever the search and review fees a buyer may encounter would be less than the title insurance they typically would be buying in a third party transaction. A few dollars spent now may save your buyer thousands of dollars in headaches. Protect your buyer, protect yourself and don’t let your buyers kid themselves into thinking because the Bank/Seller is providing a free title policy to accept it. There are no free lunches and it may be time to look at other choices on the menu.
Marco Island Real Estate October Sales Statistics
October sales statistics for Marco Island listed below:
Year 2010 2009
NEW LISTINGS:
Single Family 80 85
Condominiums 109 63
Lots 17 34
ACTIVE LISTINGS:
Single Family 439 496
Condominiums 756 731
Lots 334 346
PENDING SALES:
Single Family 20 25
Condominiums 19 14
Lots 3 3
SOLD:
Single Family 25 28
Condominiums 16 20
Lots 6 8
AVERAGE SALE PRICE:
Single Family $554,084 $564,141
Condominiums $534,888 $511,935
Lots $230,333 $281,339
For more information regarding real estate on Marco Island, please call me at 239-404-7471.
Year 2010 2009
NEW LISTINGS:
Single Family 80 85
Condominiums 109 63
Lots 17 34
ACTIVE LISTINGS:
Single Family 439 496
Condominiums 756 731
Lots 334 346
PENDING SALES:
Single Family 20 25
Condominiums 19 14
Lots 3 3
SOLD:
Single Family 25 28
Condominiums 16 20
Lots 6 8
AVERAGE SALE PRICE:
Single Family $554,084 $564,141
Condominiums $534,888 $511,935
Lots $230,333 $281,339
For more information regarding real estate on Marco Island, please call me at 239-404-7471.
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