John Gee's Sanibel Island Real Estate Blog

John's Sanibel Island Real Estate Blog

"Good Deals" in Sanibel Island Real Estate

June 7th, 2009 6:45 AM

Driving over the Sanibel Causeway this morning I was reflecting on what constituted a "good deal" in Sanibel Island Real Estate. There are many things to consider, but great deals are definitely out there.

One of the measurements that gets my attention is the ratio of the Lee County Tax Assessor's value to the listing price. For example, if the listing price is $400,000 and the county's assessed value is $500,000, this ratio would get my attention.

Of the 700 lots, condos and homes listed, a small percentage are listed below the assessed value. For example, I like a property currently listed at $249,999, and assessed at $285,000. The seller purchased this property in 2006 for $390,000. If you are interested in this property's location and want to learn more about it, please give me a call (239-850-1919) or email me at JohnGeeCo@comcast.net

In my opinion this property is a very good value. We work with a Fort Myers builder who could put a terrific home on this lot for $350,000 - NEW with all the bells, whistles and hurricane code compliance.

If you want me to research a specific segment of our market using this technique, just let me know your price range and type of property and we will do the research for you.

Meanwhile, I think the boat is calling me. Maybe it's time to head out to some great little restaurant on a canal or maybe we'll head up to Captiva and check out 'Tween Waters Marina. I hear their pool bar has some great burgers!

John Gee, Broker

Posted by Ann Gee on June 7th, 2009 6:45 AMPost a Comment (0)

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