GREAT Real Estate Opportunities In SWFL Golf Communities!

Since 2006, I’ve had the good fortune to show thousands of Southwest Florida (Naples; Bonita Springs; Estero; Ft. Myers) golf community single family homes and condos to hundreds of prospective buyers and tenants. These showings have included residences in almost-80 different golf communities, and sales in over-50 various golf communities. The needs, wants, and objectives of every customer have been personalized by their own individual situation…and my goal has always been to help each one of them find the golf home/golf community that will best fit their personal budget, golfing habits & ability, and family lifestyle. 

But, even with their diverse backgrounds and preferences, nearly every customer has asked me the same basic—and extremely important—question…”Is NOW the right time to buy a home in a Southwest Florida golf community?” With the roller coaster ride that both the national real estate market and our local area have experienced during the past 12-years, the honest answer to this question has obviously been very fluid, depending upon when it was asked. 

But, to formulate an answer to this question for the current period of time, I’d like to start with these key general observations regarding the current condition of SWFL golf communities…

• Many prices are still at VALUE levels—Our local real estate market started it’s turn-around 5-6 years ago, and prices have been increasing since then. However, unlike the “bubble” years, this growth has been modest and controlled, and local golf community real estate prices are—in most cases—still significantly below their peak years.
• Interest rates are still relatively close to historic low levels—All types of mortgages are still hanging around the 4.0% mark, and even lower. Actually, 60%+ of our buyers pay cash.
• Spectacular golf homes are still available—Even though the inventory in all of our golf communities is significantly below what it was during the recession, many of the available single family homes and condos (resale and new construction) feature fabulous upgrades and amenities, decorator furnishings, and incredible golf course views.
• Golf communities are much healthier now—A significant number of local golf communities encountered major financial problems during the housing downturn. However, strong real estate and membership sales, coupled with new ownerships, new developers, creative new builder relationships, much-needed changes in bylaws, and significant reductions in membership fees have dramatically improved their profitability and their prospect of on-going financial success.

These favorable conditions have actually imposed a need for urgency on the part of anyone who is currently planning to buy in one of our local golf communities, because…

• Professional investors—recognizing opportunities—re-entered the real estate market and gobbled up many of the best bargains, sometimes buying multiple condo units at once.
• Rapidly-improving sales during each of the past 5-6 years have significantly reduced single family home and condo inventory in golf communities, in most cases down to a 6-12 month inventory level. Some subdivisions within these communities have even lower availability.
• Some of the best value homes on the market are once again experiencing multiple offers, and/or selling prices that exceed asking prices.

In addition, many Southwest Florida real estate experts feel that our local home sales will get even stronger if the stock market’s current growth somewhat slows down, or goes thru a correction. They feel that the rapid, sustained growth of the stock market—although creating wealth for our potential buyers—has “discouraged” them from purchasing vacation homes because they didn’t want to pull their money out of a consistent growth market.  However, a gradual stock market correction may encourage them to diversify into more real estate.  

So, the obvious answer to the question is…NOW is definitely a GREAT TIME to buy your “dream” golf home in Southwest Florida!  And, one more tip for those of you that are TRULY SERIOUS BUYERS…the March/April/May period is your BEST TIME to negotiate a GREAT PRICE because the Sellers know that their prospective buyers are about to head north, and they won’t return until the next January/February!