Demand for Sanibel Real Estate is very strong. Low inventory has been driving up prices and helping local Island home builders to build speculation homes with a reasonable risk. New home permits in Lee County are up 28% over previous year. New home subdivisions are popping up everywhere. Our agents are very knowledgeable on which developments are available and the pros and cons of each and are well versed in the intricacies of new home building and there is no cost in using us.
Some customers are looking for a custom home. That requires the hunt for a lot first (perhaps an old home that will be torn down) and finding a good custom builder. We can coach you, after we learn your objectives, to the builder in our experience that will be the best match.
Buying homes that are renovated are extremely popular. TV shows and magazines feature this heavily. Remodeling is expected to be up 5% this year with at least the same gains projected in the next 5 years. Most customers shopping for a home are drawn to fixed up properties. In fact, we can get about 10% more for a “Done” property. So if market value is $400,000 a “done” property should fetch around $440,000. On the other hand, when a seller tries to sell a un-renovated home. The customers will respond but they need to get compensated for the investment of time and money. That ends up being about a 10% discount. So depending on a resale’s condition you will be in the $360,000 to $440,000 range. The wildcard then, is how nice is it?
Allow up to help you find your new or renovated home in the sun!