“This time of year, we often have limited
inventory … but not
to the current levels,”
she said. “There are defi nitely buyers
ready and waiting for the right homes. We
are experiencing a record year of sales
for our Boca Grande company, since the
luxury market and beach locations remains
desirable. This includes two home sales at
more than $9 million our company closed,
which indicates the buyers are ready if the
inventory exists.”
Michelle said that interest rates and the
pandemic are driving the current market.
“The city is no longer a place many people
want to live,” she said. “Finding yourself and
your family in lockdown for long periods of
time can defi nitely change how you view
things. We also saw that vacationing has
changed, family time has changed and
there is more travel being done within the
United States. We were given a reminder
this country has many gorgeous beaches,
mountains and state and national parks
worth exploring.”
Michelle believes that the market will
maintain, as long as we don’t experience
unpleasant conditions, such as hurricanes
and red tide.
“We continue to keep our fi ngers crossed
that Mother Nature chooses to bypass us,”
she said. “The same goes with COVID-19. If
we see another major outbreak it could slow
things down, or continue to drive demand
up. At this point, it is bringing us buyers
as people leave the cities. They have now
found they can work from home, or really
anywhere ... and a beach is a great place
to do it. Looking a year ahead is always
challenging; who would have dreamed a
pandemic would be creating real estate
sales? I really think our location will continue
to be a place people dream of coming, and
now they have more reasons, and possibly
more desire, to do so.”
Michelle truly loves living in South Florida
and pulls from experience and extensive
knowledge.
“Overall, the reasons I moved here 15
years ago are why I think people will be
looking for a home here today. We have
amazing beaches, property uniqueness,
great schools, incredible restaurants, a
hometown feel, and as many outdoor
activities as you can dream of. And, my
favorite ... no scooping
snow!”
Jim Benson, Broker
for Paradise Exclusive
and Parsley Baldwin
Real Estate, describes
the current state of the
real estate market in
two words: On fi re.
“Inventory is at the
lowest level I’ve seen here in more than 16
years,” he said. “There is new construction
everywhere. I also feel that this boom is
more stable than the last one. The market
collapse several years ago was driven by
investor speculation and loose lending
practices, but neither of those conditions are
prevalent in today’s boom.”
Compared to this time last year, “The
market has been very good for our
companies during both years. In 2019 we
had a record year with over $200 million
in sales, we will smash that record in 2020.
I might have had a much different answer
for you last April, but the market adjusted
and worked itself out. While 2019 was a
great year, a sense of urgency and shifting
workplace norms are having a great impact
on the Florida market.”
Jim feels there is a “COVID effect” on the
current market, and that recent events are
going to have a lasting impact on many
industries.
“Our typical mainland buyer who was
planning on retiring to Florida in four to
seven years, for many this plan has been
escalated, due to companies shifting
their workforce to working remotely. A
healthy real estate market in the north is
a contributing factor to our strength here,
as those who have chosen to relocate to
Florida are having no trouble selling their
northern property. This enables them to
purchase here. Seeing interest rates at 3.25
percent or below certainly doesn’t hurt. If
the national economy continues as it has,
or if it slips into a small recession, I believe
our local real estate market will fair well in
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