Erika


Tropical Storm Erika is forecast to approach South Florida as a Category 1 hurricane sometime early on Monday, August 31st. However, it is still too early to say whether it will brush, hit or bypass the region. The big question remains just how strong Erika will be when it reaches this vicinity. Some models predict it will fall apart before getting this far and others call for a robust hurricane (see cone below).






Here is the 5:00 PM update from the National Hurricane Center (NHC):
TS Erika still reaching Hurricane force but the center has shifted more to the East so the center of the storm is off the coast of Florida.  Having said that we all know how unpredictable storms can be, so please see below and prepare for this potential storm.  Attached for your review please find the Hurricane Plan and Procedures.
Please remove all furniture from balconies, front screen enclosures, and your lanais: potted plants, tables, chairs and anything affixed to the walls during a hurricane “WATCH”.  If you are not going to be in the residence please make arrangements to secure these items now.  In the event any damages are caused due to any flying object coming from your home, the unit owner will be solely responsible for any cost incurred.
Nothing herein is to be construed as a guarantee that Management or Association personnel will be available to handle any preparations on behalf of individual owners, as first priority must be given to preparation of the common properties of the Association.

We encourage neighbors to reach out to one another and offer a helping hand, especially for your elderly neighbors or those unable to prepare and secure their hurricane shutters, should they be needed.  Safety for all is our number #1 concern.
As a reminder, in cases of exponential amounts of rain and flooding, not only will yards incur slow drainage and changes in landscape schedules, low areas in the roads and construction zones have additional obstacles.  They are required to screen what enters the sewers and block construction debris, therefore they do not drain as quickly as other areas.  You will also see increases in water levels of the lakes, and although they have a drainage system set in place just like the streets, the cannot drain as quickly as the amount of rain coming down.  Please drive carefully throughout all of Southwest Florida during these storms.

Estero Fl Property Values

The median home sold price of homes in Estero Fl so far in 2015 is $340,000. Last year the median sold price was $293,868. The median sold price has increased 15.7%. I may be a good time to buy some real estate!
The number of Estero Fl homes for sale at end of July was 187, up from the previous month’s 186. In July of 2014, there were 180 homes for sale.
64 homes were sold in July 2015. In July 2014 57 homes were sold. 59 homes were sold in June 2015.
New listings for homes coming on the market in July 2015 – 71, compared to last year’s July figure of 61. The previous month 67 homes came onto the market.
The graph below shows the median sold price for homes by year from 2004 to 2015.
real estate

(The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)
Median sold price for July was $322,500. The median sold price decreased $27,500 over the previous month’s median sold price of $350,000 or 7.8%.
Median sold price for single-family homes increased 4.0% in the year over year comparison (July 2014 to July 2015) from $350,000 to $322,500.
The median sold price percentage increase is more than in 2015 than 2014. During calendar year 2014 the median sold price for a home in Estero increased 6.9% from 2013. In 2013 the sold prices increased 16.5% over 2012. So far, in 2015, the median sold price increase has been 15.7%.
Single-family home prices bottomed in 2011 when the median sold price was $210,000. As noted above, in 2015 the median sold price has been $340,000. This represents an increase of 61.9% since the bottom of the market.
Estero homes for sale are 3.3 months of inventory to be sold. (Sellers’ market exists when months of inventory are less than 6 months. Buyers’ market occurs when months of inventory exceed 6 months.) The previous month had an inventory of 3.4 months. Last year the months of inventory to be sold was 3.5 months.
The table below shows the number of homes for sale and months of inventory by price range. Red indicates a seller market, yellow represents a neutral market, and green represents a buyers market by price range. Homes classified as distressed properties (potential short sales and foreclosures) – 15 or 8.0% of the total market – 2 (1.1%) are potential short sales and 13 (6.9%) are foreclosed or REO (real estate owned) properties.