Real Estate

Waiting in the Wings

What is an investor to do?

 The whole world seems to be in a wait and see holding pattern.  Here in Florida we have watched the Real Estate market run up to unprecedented highs and then watched the bottom fall out from under us.

Few would argue that we have seen and are currently experiencing the bottom as far as prices are concerned.

Even the nay-Sayers have a difficult time predicting that there will be significant slippage from here and I would argue that if there is, no investment is safe.  The artificial props that have kept the stock market alive are caving under the weight of this precocious market.  I for one am not optimistic about its ability to continue to provide growth over time.  Let’s face it; the days of consistent growth are behind us.  Corporations now recognize that they must rely on consistent profits rather than consistent growth and they are having difficulty adapting and performing under this new reality.

 My point in all of this is that us “Baby Boomers” need to re-think our strategies.

In the past we built up our retirement stash and a winter home was a move that was made upon retirement.  Now it should be a part of your planning.  With current prices running about half the cost of new construction and significantly less than national median prices, investing in Florida real estate should be a consideration.  Southwest Florida properties now cash flow for the first time in more than a decade.

Invest in Quality of Life

This is a once in a lifetime opportunity to secure a retirement that for years has been little more than a dream.  With prices at 40% to 60% of those just 3 years ago, the bar has been shifted and you should be thinking about securing your opportunity.  Florida is and always will be a vacation and retirement destination which is why our real estate has suffered so dramatically.  Most people move with the masses, retreating when others retreat and advancing when others advance.  For those who go against those instincts great rewards can be realized.

It is Time to Buy

 I would like to be able to say that an investment in Florida real estate can only go up but nothing in this world is certain.  What I can say is that I sincerely believe that real estate has an intrinsic value that few other investments can boast.  Let me assist you in your own evaluation and I am confident that you will agree.

Selling Homes with Social Media?

For those who think Social Media is a fad like bell bottoms or baggy jeans, you will want to watch this video.  I have already sold properties using social media, and this is just the beginning.  This is one of the most impressive videos I’ve seen in a LONG time!

As you can see, Social Media is going to be with us for a long time.  Because we’re so committed to helping people buy and sell homes, we use Social Media to help do so.  Here are a list of some of the sites you will find our listings.

Botanica Lakes Fort Myers Market Snapshot

Botanica Lakes Fort Myers Market Snapshot Has the market stabilized in Botanica Lakes in Fort Myers? 

I've heard this question many times from buyers who are looking to purchase in the GL Homes community and from people interested in selling in the community.  We've recently invested in software that helps us create an AMAZING market report for Botanica Lakes. 

You can see how it works by watching the video below.

 

So now that you've watched the video you can see how powerful of a tool this is.  Yes, Botanica Lakes has foreclosures and short sales, much like many of the other communities in the Fort Myers real estate market. 

This report will give you:

• Where the market is trending
• How long houses stay on the market
• An interactive map showing recently sold and active listings
• Community information, such as local schools, population, net income, etc.
• Asking price vs. selling price - Can you offer below asking price?  Can you sell near asking price?
• And lots of other pertinent information

I'm really not trying to sell the report, I think you get the value of the report.  Even if you are not making a decision to buy or sell in Botanica Lakes Fort Myers at the moment, the report is free and it will help you know when the timing is right.  You can get the report for free at BotanicaLakes.SWFLMarketTrend.com. Also, see Botanica Lakes Foreclosures while you're at it.  They're one of the best deals in town.  Or see other Botanica Lakes Homes for Sale.

 

Should I Own it or Rent it?

One of the most frequent question I hear is, “Does it make sense for me to buy right now or does it make more sense to rent?”  I have been saying for some time now that it is time to buy but other than market trends and gut instincts I did not really have hard facts to back that statement up.  Today, however that has changed.  Vanessa Wong, from Business Week has revealed a formula for quantifying this that takes much of the mystery out of this dilemma.  According to her formula, if you:

divide the purchase price by the annual rent the home will command, you can determine which is better as follows.

 

1 to 15                         Less expensive to own
16 to20                        Owning is more expensive but may make sense
Over 21                       Only makes sense to own in select instances.

 
Let’s consider a real world situation.  Let’s say a house that will sell for $159,000.00 will rent for $1,200.00 per month.  According to her formula you should divide the selling price by the annual rent ($14,400) and you will come up with the number of 11.04.  In this instance, it would be much better to own than to rent.  Of course there are always many variables that come into play.  In Southwest Florida HOA fees can be considerable and have an impact on the cost of occupancy.  On the other side is the uncertainty of market influences on rentals. When you rent you are at the mercy of the landlord every year at renewal time.  Buying must always be a careful decision and it is one that you live with for years to come.  The market we are experiencing in Southwest Florida defies logic.  When selling prices are only 50 to 60% of the cost of new construction it is hard to make the argument for renting.  One of the key incentives for ownership is the ability to build equity.  With the market prices of re-sales at historic lows compared to new construction it is very hard to envision that this gap will not close meaning an increase in value and equity for those who own.  In Southwest Florida, if you have the ability to buy, all indications are that now may be one of the best opportunities in history.

Most Powerful Tool for You – The Home Owner or Buyer

We are beyond excited to share our latest feature for our clients.  It’s called the Market Snapshot.  It’s free for you and will completely empower you to know more about what is going on in the real estate market near the home you own or the home you may potentially buy. 

Watch this quick video to see how powerful this is. 

You can pick up your Market Snapshot free at SWFLMarketTrend.com.  We’re excited for you to view the power of it!

Bob Goodman Donates $97,684 to Boys and Girls Clubs of Lee County

We realize the majority of our content on our site is real estate related, but we also have other passions that are important to us.

The Boys & Girls Clubs of Lee County is a charity very close to my heart.  I have been on the Board of Directors for nearly 4 years now and enjoy every minute of it.  We serve over 1,700 underpriveleged children in Lee County alone.  Our programs are just $10 per year per child to participate.  We just had major news that I had to share.

Bob Goodman, who operates Saturn of Southwest Florida and Edge Automotive, presented a check to the Boys & Girls Clubs in the amount of $97,684.  This donation is the single largest individual donation (as far as I know) in our history in Lee County.

We would like to thank Bob Goodman for his support of Boys & Girls Clubs.

Who is the Best Real Estate Agent in Fort Myers?

The Best Real Estate Agent in Fort Myers

If you went to Google and asked the robot "Who is the Best Real Estate Agent in Fort Myers," you would get a lot of results.  The truth of the matter is that you cannot really tell who the best real estate agent in Fort Myers is until you get a chance to work with them. 

Yes, there are the Fort Myers Realtors out there who go out there to post big numbers.  Many are able to accomplish this and many are not.  Numbers are obviously important in any business, but as a father-son team we have found that being the best real estate agent in Fort Myers has more to do with keeping our business people first.  With our focus on relationships, the numbers work out just fine.  Actually, we would argue they work out even better, because referrals are such a large part of our business.  We love our clients, and we really love our clients referrals! 

Whether your want to sell your Fort Myers, FL home or buy a Fort Myers FL Home for sale, make sure you are working with the best.  This day and age, technology has become extremely important to buying and selling homes.  Take a look at our Fort Myers FL Homes website and you will see right away the difference between us and other agents.  You can take free "2 Cent Tours" of some of the best communities in Southwest Florida, search the MLS for free, or even read up on our constantly updated Fort Myers blog. 

If you look below you can see some of our favorite communities in Fort Myers.  Being the Best Real Estate Agent in Fort Myers is no easy task, but we hope you see our commitment to your success.  We would be happy to help you accomplish your real estate goals.  You can contact us via our website or via the number listed below.  Have a great day!

View Fort Myers FL Homes in a larger map

The Top 7 Reasons Your Home Did Not Sell

If you find yourself in a place where you had your home on the market without selling, we have compiled the Top 7 Reasons why this might have happened.  Based on our experience, here they are:

7 Possible Reasons Your Home Did Not Sell

7. There was not a strong marketing plan in place from the beginning to sell your home.

6. The home has not been properly prepared and detailed. First impressions are everything.

5. Your listing agent was not positioned and able to meet the technology demands of the current market.
- Was there an effective video of the home that indicated its true character?
- Did your home have its own website?
- Was your listing syndicated with multiple national websites?
- Were the pictures abundant and did they depict the true character of your home?

4. Your agent did not have an adequate network of professionals to address the issues that are common place in this complex market.

3. Your agent did not know or was not honest about the true current conditions of the market.

2. The price did not adequately reflect the marketability of your specific home.

1. You did not choose Dick and Brad Dohack of the Dohack Group.

We CAN sell your home or condo. Fill out the form below, and we’ll show you how we go above and beyond to get the job done.

Real Estate Investing in Fort Myers

Real Estate Investing in Fort Myers

Let’s face it purchasing a second home is an investment whether it be for vacation, retirement, or true investment.  Any seasoned investor has been baptized by fire at one time or another.  Certainly, those who invested in real estate in 2005 and 2006 saw their investments crumble in what has been labeled the “Bursting of the Bubble”.  Some choose to turn their back and never return while others carefully watch, learn, and wait for a chance to take advantage of a unique opportunity.  For the past year I have been proclaiming that we are now in a unique period where purchasing real estate in Southwest Florida makes more sense than ever before in my lifetime.  We consistently see quality homes in upscale gated communities selling for $60.00 to $80.00 per square foot.  The industry accepted cost for new construction even in this depressed economy hovers around $150.00 per square foot. This has not gone unrecognized.

Recently released data shows that in April 1457 single family homes were sold in Greater Fort Myers.  This continues what has been a year long run of record sales.  What is different about the most recent numbers is that median prices are rising.  April’s median price of $96,000.00 is up 20% from a year earlier.  Another astonishing reality is that reports have indicated that 60% to 70% of those transactions have been cash.  Another important fact is that Short Sales and Foreclosures are declining as a percentage of overall sales.  They currently make up 58% which is still significant but much lower than the 65% posted just one year ago.

My point in all of this is that if you are a fence sitter and waiting for the bottom to make your move; this data would suggest that it is passing you by.  From a less statistical and a more practical perspective I can tell you that it is more challenging to locate “bargain properties”  and even more challenging to successfully land them.  It is difficult for our clients who watch the headlines from other parts of the country and indeed the world hear us say that they will not successfully land a property unless they bid above asking price.  This is a result of the strengthening in our market.  Foreclosures are priced for liquidation using a process called BPO, or “Broker’s Price Opinion”.  As in any appraisal it is a snapshot at one moment in time.  Assuming accuracy, this says that the market has firmed up and the value is more than it was at the time of appraisal.

In conclusion, I summarize in saying that there are still opportunities to take advantage of these unique market conditions and further suggest that if you have considered purchasing, you solidify your thoughts.  Of course there is uncertainty.  If there was an investment that was 100% certain, what would the return be on that?  I like an investment that pays an annual dividend of sunshine and warm temperatures every January.  I think you might as well.

Call me with any questions you might have and let’s become neighbors. ~Dick Dohack

Introducing Us to Technorati

For those who blog at all, you may want to consider registering your blog with Technorati.  As part of the registration process, they make you put a token code on your blog.  Well here is mine D6VY9AHPGHBT.

They do this to make sure that you are not some robot out there just spamming the internet.   Once you get accepted, you will be able to be found on Technorati and help get good links to your site and boost your rankings.  Ok, so this post did not have a lot to do with real estate, but we’re always looking out for you !

Shadow Wood Preserve Homes for Sale – 2 Cent Tour & MLS Listings

Shadow Wood Preserve Homes for Sale

 

 

Shadow Wood Preserve is an exclusive community in South Fort Myers.  Just south of Alico Road on US41, the location is superb.   It's actually one of my favorite communities in SWFL.  I took the time to make a 2 cent tour of Shadow Wood Preserve, so you can start to understand why I enjoy it so much.  Watch the video below.

Click on this link for a complete list of Shadow Wood Preserve Homes for Sale.

 

Shadow Wood Preserve is truly for the nature lover. The Parkside neighborhood within Shadow Wood Preserve even has a nature trail and kayaking available. You can kayak all the way out to the Gulf of Mexico from your own community! For more information on Shadow Wood Preserve, you can call the number below or visit us at our Fort Myers FL Homes website.

Homes for Sale in Botanica Lakes – Fort Myers

Homes for Sale in Botanica Lakes

With the current market the way it is, there are plenty of homes for sale in Botanica Lakes.  The resale market is ripe for the picking with an ample number of foreclosures and short sales within the GL Homes community. 

The prices of Botanica Lakes Homes for Sale are at record lows, which means the buying frenzy is on!  We have seen many people taking advantage of the low prices by purchasing foreclosures which are typically the cheapest.  The only problem with most foreclosures is the disrepaired condition of the homes.   I've personally seen cabinet doors stolen, baseboard ripped off the walls, and even granite counter tops stolen from the homes.  Not every case is this way, but I've seen many in this condition. Buyers need to realize that by the time a home goes into foreclosure and hits the market it has been vacant for a long time.  Don't expect to walk into a home with candles lit and soft music playing for the showing.  That's just not the way it is.

Short sales are also a great way to find the lowest price homes for sale in Botanica Lakes.  It's important to remember what I tell my clients.  "In order to buy a short sale, you must have the patience of Buddha."  They are a great way to get a distressed property, but depending on the bank holding the mortgage, short sales can take months on end to complete. 

As a service to all of our clients (we'll let you see too), I've compiled the most up-to-date list of homes for sale in Botanica Lakes.  Simply click on this link to view.  You can check back here often as we will always keep this up-to-date.  If you would like any extra information on the community or any specific houses, we're happy to help.

The Problem with Real Estate…

This came through as an email, and we just had to share this with you.  It’s good to have a good laugh!

Your House As Seen By:

Yourself…

Your Buyer…

Your Lender…

Your Appraiser…

And…

Your County’s Tax Assessor…

If you have any idea who to credit this email to, let me know, and we’ll be happy to give credit where it’s due.

Very Nice Testimonial from the Phaneufs

My name is Paul Phaneuf and I live in the small town of Acushnet, Ma. Around October 2009, my son and myself wanted to buy a condo in Ft Myers,Florida. I started to search for a Realtor and when I came across Brad Dohack, he just looked like the type of person that I could trust and depend on. This turned out to be an under statement. We made arrangements to go to Ft Myers on 1/29/10. We were met by Dick Dohack, Brad’s father. This gentleman did everything that we could have asked of anyone. On 2/1/10 we got to meet  Brad. Right from the start we knew that choosing the Dohacks as our Realtors was the best move that we could have made.

We finally decided on a condo that Brad had shown us. It took 3 months to close on this unit. but Brad worked tirelessly on seeing that our goals were accomplished. Even after the closing Brad still has the caring to help us get it all going forward. We will recommend The Dohack Group to everyone that wants to have a class group to be their Realtors to represent them in finding a home in the Ft Myers area. In closing, again  we want to tell Brad and Dick how much we appreciate them.

Paul and Mark Phaneuf

Gulf Harbour Foreclosures – Great Deals in Fort Myers Elite Community

Gulf Harbour Foreclosures

Yet again, the market never ceases to amaze me. Much like the Olde Cypress Foreclosures article I wrote earlier, we are seeing a lot of Gulf Harbour Foreclosures hitting the market.

If you are reading this, I bet you realize how amazing of a community Gulf Harbour in Fort Myers, FL is. With the Yacht Club, private island beach, pool, tennis, luxurious spa, and fitness center, Gulf Harbour has always been the premiere community in Fort Myers.

Located only 10 minutes from Fort Myers Beach and Sanibel beaches, Gulf Harbour remains an extremely desirable community to live in.

I could go on and on about the great features of the community, but I understand that people these days are looking for a deal on luxury. Recently we’ve been seeing way more Gulf Harbour Foreclosures that we have ever seen in the past. I guess that comes with the times. Most people think of foreclosures as run down, beat up homes in less desirable neighborhoods.

It’s time for buyers to understand that luxury homes do go into foreclosure. Yes there is steep competition for these deals, but that’s my job. I find them and you buy them!

We’ve compiled the latest up-to-date Gulf Harbour Foreclosures in Fort Myers, FL. You can check back often for updates or call me at the number below. I’m happy to help.

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