.jpg)
Sanibel's summer season, otherwise known as "off season" for Real Estate, has been busy although much quieter than winter season.
July 1, 2016 - August 13, 2016 STATs
22 Homes sold (all areas) and 14 are under contract according to MLS.
Near beach homes are again the most sought after with 6 of the 14 under contract being near beach locations. Two homes in Lake Murex are under contract with an average list price of $902,000. Homes over 1 million that are under contract and awaiting closing are one home in Gulf Shores, $1,290,000, Butterknife, $1,295,000 and West Gulf Drive (across the street from the beach) at $1,595,000.
How many near beach homes are for sale under $800,000?
6 homes under $600,000
10 homes under $700,000
7 homes under $800,000
Now just 45% of homes offered for sale near beach are under $800,000
What can a buyer do if their budget is under $800,000?
1. Rent out your home when not in use. You could see $30,000 to $50,000 depending on location and amenities. This will help with taxes, insurance and some mortgage costs.
2. Consider purchasing a condo, such as Loggerhead Cay which seems to be one of the better values on the island right now. With one of the nicest beaches, pool, tennis, grills and weekly rentals allowed, you can purchase starting at $500,000.
3. Buy a "fixer upper" near beach - one is currently for sale in West Rocks for $699,900 - and spend $100,000 for necessary improvements.
