State of OUR Real Estate Market…. Our market continues to thrive and its upward trend this year. Sales are on the rise and inventory is being reduced. We have seen the single family market stabilize in some communities and the condo market is still adjusting.

As I reported last month, the majority of the sales Front

activity remains to be under $500,000 (85%), while under $250,000 is still the strongest segment of our market at 63%. This remains to continue.

The successful sellers continue to prosper that understand the difference of being "IN" the market rather just being "ON" the market. 70% of the active listings continue to be overpriced.

I am sorry folks; I am just being brutally honest with you. Let me try to help you with an analogy: Let’s say we go fishing… We can have the best bait, we can have the best boat, and we can have the best fishing equipment, however, if we throw the bait out of the boat and it goes down ten feet and the fish are down at forty feet, they’re not going to bite. So what happens if we lower another ten feet? They’re still not going to bite because the fish are down forty feet. But we can’t see where they are from the boat, can we? So we fish. We keep lowering and all of a sudden, guess what, your bait is right in the middle of those fish and you have a feeding frenzy. Pricing your house in this market is much like fishing—we can’t see the fish so we just keep lowering the bait until they hit.

We have received so many emails and calls with suggestions to enhance our market reports. We are listening!!! Please make sure you check out the New and improved Market Report! Keep the comments coming, THANK YOU!

NEW!!! Comprehensive

Bonita Springs/Estero Real Estate Market Trends
NEW easy to read graphs and charts with a quick click to your community.

Click here to jump to The Colony

We even added a quick link to distressed properties in the community. Look to the left under "Distressed Sales." Of course we do not like them in our backyard, but they are part of our market right now and they can have an impact on our values or negotiations.

Whether you are a buyer or seller in today’s market you do need a professional to navigate the market trends and advise you the way it is, and not tell you what you want to hear. In addition, someone who can provide you compelling data to help you make a good business decision regardless which side of the transaction you are on. We have the tools and the expertise to help you get results.

Choose Michael Burke as your real estate professional and sit on the side of success.Michael is in the top 1% of all agents in the Bonita Springs / Estero market place. Buyers and sellers do not sit on the side line any longer, call me now free consultation.

Michael@CoconutPointRealEstate.com

Office: 239-498-7600
Cell: 239-777-0473
E Fax: 1-866-890-4452

Click Here to Visit Michael Burke’s Blog

NEW Visit our new blog full of current information, market data and share your thoughts with Bonita Springs / Estero Top Producing Agent, Michael Burke.

Click here to read my weekly article "To The Point" in The News-Press Saturday’s Home Finder

Feds: Homes with Chinese drywall must be gutted

New guidelines say homes tainted by Chinese drywall, many in the South, should be gutted

Cain Burdeau, Associated Press Writer, On Friday April 2, 2010

NEW ORLEANS (AP) — Thousands of U.S. homes tainted by Chinese drywall should be gutted, according to new guidelines released Friday by the Consumer Product Safety Commission.

The guidelines say electrical wiring, outlets, circuit breakers, fire alarm systems, carbon monoxide alarms, fire sprinklers, gas pipes and drywall need to be removed.

"We want families to tear it all out and rebuild the interior of their homes, and they need to start this to get their lives started all over again," said Inez Tenenbaum, chairwoman of the commission, the federal agency charged with making sure consumer products are safe.

About 3,000 homeowners, mostly in Florida, Virginia, Mississippi, Alabama and Louisiana, have reported problems with the Chinese-made drywall, which was imported in large quantities during the housing boom and after a string of Gulf Coast hurricanes.

The drywall has been linked to corrosion of wiring, air conditioning units, computers, doorknobs and jewelry, along with possible health effects. Tenenbaum said some samples of the Chinese-made product emit 100 times as much hydrogen sulfide as drywall made elsewhere.

The agency continues to investigate possible health effects, but preliminary studies have found a possible link between throat, nose and lung irritation and high levels of hydrogen sulfide gas emitted from the wallboard, coupled with formaldehyde, which is commonly found in new houses.

U.S. Sen. Bill Nelson, D-Fla., said now the question is who pays to gut the homes.

Click here to read full article

Lee County rental market red-hot

By EVANGELIA GANOSELLIS news-press.com March 28,2010

After foreclosure, many people turn to apartment living

Lee County’s rental market is a work in progress, but there is a silver lining – higher occupancy rates.

"We’ve probably been steady since January," said Sue Lutter, a broker for Fort Myers-based Gulf Waters Rentals and Management. "Our biggest problem right now is that we have so little to offer."

About 98 percent of the company’s properties are occupied as of now, a reflection of occupancy rates countywide.

Lee County’s apartment occupancy increased 7.2 percent in the fourth quarter of 2009 from the previous year to 91.1 percent, according to statistics compiled by Novato, Calif.-based RealFacts.

The increase was the highest in the state.

Click here to read full article

Government, lenders cut short sale wait time

By Amy Hoak McClatchy News Service March 28, 2010

CHICAGO – Short sales are a valuable tool for struggling homeowners, but they’ve been notoriously difficult to complete, with buyers and sellers often playing a long waiting game before hearing back from lenders.

Now, however, a new government program plus some lender initiatives may make for shorter wait times and a smoother process.

"Any structure is better than what we’ve had," said Kathryn Bovard, a broker/manager for Prudential Americana Group in the Las Vegas area.

Short sales are useful for borrowers who are underwater on their mortgage, owing more on the home than it’s currently worth. In a short sale, the homeowner’s lender accepts less than what the borrower owes on the mortgage in order to complete the sale. Both parties thus avoid the foreclosure process.

The government’s Home Affordable Foreclosure Alternatives program goes into effect April 5.

"It’s an extension of (the Home Affordable Modification Program) to provide a default solution before it gets to the worst," said Arvin Wijay, chief executive of Retreat Capital, a provider of products and services that facilitate short-sale management and loan modifications. If the borrower doesn’t qualify for a modification, loan servicers will then assess the possibility of a short sale through the HAFA program.

HAFA is expected to improve the traditional short-sale process in a few ways:

Click here to read full article

In today’s market it takes a lot more than just listing your house on the MLS. D. Michael Burke, Professional Luxury Expert, of Keller Williams Elite Realty has proven to be the industry leader in SW Florida real estate. The combination of KW’s resources and my personal and flexible marketing plan make me, Michael Burke, your best choice when choosing a REALTOR in today’s market.

If you or someone you know is in the market to buy or sell a home in SW Florida, please feel free to contact me to discuss our real estate products and services. "Experience the Luxury Lifestyle"

Sincerely

D. Michael Burke, P.A.
Keller Williams Elite Realty

Local: 239-498-7600

Cell: 239-777-0473

E Fax: 866-890-4452

Email: Michael@CoconutPointRealEstate.com