Marco Island Real Estate is Improving

Marco Island Real Estate Improves For the Third Year in a Row


Real Estate Markets are different and localized all across the country. Thus the National real estate reports are generalized, at best. They do not accurately reflect Real Estate activity everywhere or in any specific town. Pricing and sales activity even varies within a given city!

Marco Island overall Statistics Reports have improved for the third straight year!

01/01/2011 – 05/31/2011 From the MLS data for all of Marco Island

So far this year, Real Estate has been strong and steady for all real estate market sectors combined on Marco Island. This is the first time we have seen a consistent and positive trend in many years.

In general:

 The total number of properties sold is way up,

 The total dollar value of sold properties is way up,

 The average days on market-the time it takes a property to sell- is down,

 The new inventory of property for sale has significantly decreased in many areas,

 The average selling price has increased slightly, with some exceptions.

Single Family Homes: New Inventory declined by 17% while houses sold increased by 15%. Average sale price was marginally higher by 3.7%. Median selling price was -1%.

Lots: Available Inventory increased 1% and Lots sold increased by 11%.

Condominiums: New Inventory declined by 9% and Condos sold increased by 17%.

The accompanying MLS data shows results for your neighborhood, as usual.

May Real Estate Sales Statistics for Marco Island

April sales statistics for Marco Island listed below
                 Year        2011          2010

NEW LISTINGS:
   Single Family         34            57
   Condominiums      68            77
   Lots                       18            26

ACTIVE LISTINGS:
   Single Family         408         503
   Condominiums      675         768
   Lots                       348          344

PENDING SALES:
   Single Family         27           17
   Condominiums      23           12
   Lots                       5              4

SOLD:
   Single Family        43            31
   Condominiums     53            41
   Lots                       7              5

AVERAGE SALE PRICE:
   Single Family    $668,772     $685,339
   Condominiums $376,975     $378,011
   Lots                   $437,857    $325,800


For more information on real estate on Marco Island and Naples, please contact me at 239-404-7471  or visit my website at http://www.realestateonmarco.com/ for current homes for sale.

Real Estate Self Directed IRA

Given the demise of real estate prices in recent years and the potential for resurgence, it is surprising so little is known about Real Estate I.R.A.’s. With historically low prices in Southwest Florida coupled with the recent gains of the stock market, individuals may wish to consider moving a portion of their qualified retirement plans from Wall Street to the beaches of Florida through investing in real estate. Many Individuals are simply unaware how easy it is to transfer funds tax free from an existing retirement account into a Self Directed IRA. There are numerous facilitators we have worked with that our office can direct you to (see Penscotrust.com as well as theentrustgroup.com) to serve, among others, as Custodians for your Self Directed IRA.


With a few exceptions the process of purchasing real estate with your IRA is similar to purchasing other conventional investments with your IRA. Once your self-directed account has been established and funds transferred, simply instruct your custodian to purchase the specific investment property through a real estate letter of direction. Once received, the custodian will act on your instructions and remit funds to the real estate closing attorney you have selected to handle the transaction.

When purchasing Real Estate with your IRA, there are 4 main differences between buying Real Estate for yourself and your retirement account.

· Title: When purchasing an asset for your IRA it is imperative that it is properly titled in your IRAs name, listing the custodian, For the Benefit of (FBO) Your Name IRA.

· Funding: When purchasing an investment for your IRA, the funds required must come directly from your IRA. Accordingly, the custodian sends funds directly to our office per your instructions.


· Expenses/Profits: Any expenses or income associated with an IRA investment must be originated or remitted to your IRA.


· Signatures: Documents regarding IRA investments must be signed by the firm acting as custodian on behalf of your IRA.


While there is not a limit on the number of IRA accounts, the allowable annual contributions cannot exceed the applicable limits of the plan you have selected. Funds can be transferred from an existing IRA, 401k or 403b to a self directed IRA to the custodian for the purposes of purchasing real estate. You can elect to transfer all or a portion of your previous retirement funds to self direct them in investments. Retirement accounts among spouses may also be grouped together to purchase property.

When the property purchased through an IRA is ultimately sold the sales proceeds may be returned to the original IRA account or used to purchase another property.

This information was provided by Ronald Webster, attorney on Marco Island.

April Real Estate Sales Statistics for Marco Island

April sales statistics for Marco Island listed below:



                  Year        2011       2010

NEW LISTINGS:

Single Family              49         56
Condominiums           63         68
Lots                            40           9

ACTIVE LISTINGS:

Single Family           454      515
Condominiums        704     757
Lots                          353     337

PENDING SALES:

Single Family           29      15
Condominiums        33      34
Lots                          6       10

SOLD:

Single Family          42      39
Condominiums       54      56
Lots                        11      11

AVERAGE SALE PRICE:

Single Family      $829,285     $690,531
Condominiums   $504,255     $486,387
Lots                     $301,082    $228,136


For more information on real estate on Marco Island and Naples, please contact me at 239-404-7471 239-404-7471 or visit my website at http://www.realestateonmarco.com/ for current homes for sale.

Marco Island's Charter High School

The Marco Island High School is getting closer to a reality.  They have already hired teachers and have had 58 students apply for admission.  They anticipate 175 - 200 students the first year.

Students will have the opportunity to take a course in Biology that will include lesson plans written by the director of education for Jean-Miclael Cousteau's Ocean Futures.  They have an affiliation with Cornell University in New York where the students can attend summer college and receive college credits.  Football will be coached by former NFL football player Mike Vanderjagt.

This is a great addition to the community of Marco Island.  For more information, you can visit their website at http://www.marcoislandacademy.com/.

Marco Island Real Estate March Sales Statistics

March sales statistics for Marco Island listed below:


                              Year            2011       2010

NEW LISTINGS:
   Single Family                         56            82
   Condominiums                      59            93
   Lots                                        38            33


ACTIVE LISTINGS:
   Single Family                     489           540
   Condominiums                  733           809
   Lots                                     349          359


PENDING SALES:
   Single Family                    22             17
   Condominiums                 38             30
   Lots                                   8               5


SOLD:
   Single Family                   31            30
   Condominiums                37            34
   Lots                                  10            10


AVERAGE SALE PRICE:
   Single Family           $566,778     $659,953
   Condominiums        $447,032     $398,402
   Lots                          $210,310     $294,500

For more information on real estate on Marco Island and Naples, please contact me at 239-404-7471 or visit my website at http://www.realestateonmarco.com/ for current homes for sale.

Marco Island Quarterly Real Estate Statistics

1st quarter sales statistics for Marco Island listed below:

                                 1st                            1st
                    Quarter 2011         Quarter 2010          

NEW LISTINGS:
  Single Family             193                      226                
  Condominiums           261                      290
  Lots                             107                      93

ACTIVE LISTINGS:
  Single Family               475                       540
  Condominiums            739                       809
  Lots                               349                      359

PENDING SALES:
  Single Family              75                          66       
  Condominiums           101                        71
  Lots                              27                          20

SOLD:
  Single Family             74                           72                    
  Condominiums          100                         86
  Lots                             21                           22


AVERAGE SALE PRICE:
  Single Family           $635,109                  $636,494
  Condominiums        $579,490                  $499,477
  Lots                          $281,060                  $303,386

As you can see from the statistics, Condominiums have increased dramatically in the number of pending sales for the Marco Island area.  The sale prices for single family homes have not changed much since the first quarter of 2010 indicating a leveling out.  There is still some price corrections for vacant land and condominiums.

For more information on real estate on Marco Island, please visit my website or call me at 239-404-7471.