Invest In Waterfront Archives

For most of this week I have been "running the traps". "Running the Traps" is an expression I suppose came from the fur trappers, running their route to gather their trappings. Of course down here this is what all the crabbers and lobster trappers do. For me it just an expression I use when I have to get out in the marketplace and see what is really going on. I go see my friends in the industry, stop in at open houses, go to sales centers and generally get some face time. My assistant will ask me where I am going and when I will be back. I'll shoot out, "I am out running the traps. Forward my calls to my cell."

I don't care what business you are in, if you don't go out and "run the traps" you will lose touch with your customer, your suppliers, and your business. I know a very smart gentleman in Caracas, German Toro, that runs a number of businesses in

Venezuela

. Mr. Toro was chairman of the board of a diaper producer and a good customer of mine. He told me the story of a board meeting he chaired. At this meeting he passed out a list of ten questions to his board members. They were very simple questions that any mother or house wife would know the answers to without a moments thought. "What does a quart of milk cost?", "How much do I have to pay a baby sitter?", "How many times a day does a baby normally get changed?" Not a single member of the board could answer any of the questions. They had all lost touch with their customer. Most had never even set foot in a grocery store in the past year. He sent them out with a scavenger hunt list of things to buy and answers to seek. Needless to say these board members were more in tune with their business with Toro at the helm.

In the real estate business, staying in touch with the market is critical; and as our market is very diverse and multi faceted, staying in touch is a challenge. We have to keep in touch with so many factors such as interest rates, condo releases, the commercial market, home prices, resale rates, new developments, and emerging trends, technology and traffic. For this reason brokers and agents tend to specialize.

I learned this week "running the traps?" That traffic is heavy and the snowbirds are back and they are here to buy. Every sales center I visited had people waiting to see agents. Most agents report lots of lookers. Lots of "ups" and many tours. Not many contracts though. I talked to one very organized agent that told me she recently reviewed her calendar for the past two years. She thinks that the last month has been an exact mirror of the two previous years. She told me that starting the second week in January she was booked with out of town buyers for every day for the balance of January. This year will be no exception for her. Traditionally buying starts again in earnest towards the end of January and peaks in May for second home buyers. In short, I was very encouraged by my field trips.

The economy is strong, interest rates are stable and still low, and there are some deals in the market place. This is a wonderful time to buy here. Sales have been slow and sellers are more willing to deal than ever before. Smart money is buying. The Fort Myers News Press has been running a series on the baby boomers and their effect on the market. Most of you know that this is not new news, but I cannot stress enough that we have only seen the tip of the ice berg when it comes to the baby boomer influx in South West Florida. If you do not have a second home in Florida, please buy it now. If you can afford another one, buy it now. Use some of the innovative mortgage options like option ARMs to help you with cash flow. These are the good old days for tomorrow. Get on the escalator.

I have a few properties I think you should look at if you are looking for a major commercial investment. Think about buying a commercial condo. We are building Cyperlin Center. Minimum condo is 5000 square feet. Completion end of 2007. Price approximately $2,000,000. It takes 20% to get in now, balance to close. Contact Cliff Wiersma for this or other commercial opportunities.

We are now offering a Model Leaseback of $2,000/month for one year on a furnished Grand Isle condominium and you get to use the condo for two of the twelve months. You can take a virtual tour here. Most of the Grand Isle units are bargains in this market. Contact Debbie Krikorian for more info.

We will have an Open House for The Citadel on January 11, 2006 from 12-6 p.m. Come check out the two furnished models. We have units available from $249,900. The Citadel is located in Bonita Springs and its proximity to the beaches (three miles! - you can take the trolley) makes this hidden gem one of a kind.

If you are looking for a GULF ACCESS canal front condo (we're talking minutes to the Caloosahatchee River) please contact Debbie. Priced from the low $300's without a boat slip and from the high $300's with a boat slip. Condos are three bedroom, two bath located in Cape Coral, click here for more details.

I am looking forward to a great 2006 and I am pleased to announce the addition of two new experts to our team. Please join me in welcoming Kathy Brewer. Kathy specializes in new construction and re-sales and joins us from Keller Williams. Maggie Morrisse joins us from Naples Realty Services, Inc. Maggie specializes in the Bonita-Naples area.

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