So you are in the market for a boat friendly property in Southwest Florida.  There a few things to keep in mind to ensure that your experience with your waterfront home is as pleasurable as is spending time on the water!  First, we will run down a few questions that you will need to answer to yourself to decide just what type of boat property you are looking for.  Once you have narrowed down your search, we will run down a few key questions to ask your real estate agent or other qualified and knowledgeable professional.

A privately deeded, deepwater bayfront dock on Manasota Key.

The first decision you will need to make is whether you want your own private dock or if a community or shared dock will fit your needs.  Though some beachfront properties are “beach to bay” or have private dock easements, it is much more common to find several homes that share a common easement and dock.  Its important to find out the specifics about using and maintaining this dock, as well as to keep in mind the size and condition of the dock in relation to the number of homes who will use the dock. Be sure to keep in mind that there may be vacant lots who will acquire access to the particular dock once homes are built in the future. Are there separate slips for each property, or are they first come first serve?  Is there a limit on the size of boat, or number of boats you may keep at the dock?  Can you store your boat at the dock, or is it just for “occasional use?” Who is responsible for the maintenance and replacement of the dock in the future?

Some great areas to find the waterfront home of your dreams:

Manasota Key (moderate to expensive)
Englewood – including Grove City (affordable to moderate, although Bayshore Drive is more in line with Manasota Key)
Palm Island (moderate)
Boca Grande (expensive)
Cape Haze (affordable to moderate)
Placida (moderate)

Once these questions are answered, you may have a clear idea of if a shared dock is for you.  However, don’t immediately throw out the idea of a shared dock if you plan on using the property as a shorter term vacation property or rental if you have a smaller boat.  Though a private dock will always be more valuable, keep in mind that if you consider the initial cost as well as the upkeep and replacement of a boat lift you may find it financially feasible to store your boat indoors at a nearby marina, and keep the boat in the water when you use the property.

A long dock like this is often present to preserve vulnerable sea grasses in shallow waters.

So you have figured out whether you want a shared or private dock.  Now the question is, will a particular dock fit your boating needs?  Depth is going to be the biggest limiting factor in Southwest Florida, followed closely by vertical bridge clearance.  These factors will determine whether a particular property has a dock that will physically fit the needs of your vessel.

Depth and vertical clearance will often go hand in hand in determining which dock is right for you with depth being the slightly trickier of the two to determine.  You may have great deep water at the dock, only to have excessively shallow waters on the approach or vice versa.  For the sake of this discussion it will be assumed that you already know the depth requirement of your boat, or the boat you will be potentially purchasing. (Just keep in mind that most boat owners end up upgrading, even if they really don’t plan on it!)   The first and easiest thing to do is to walk out on the dock and look at the boats at nearby docks. Are they big or small, are they inboard or outboard?  Do any of the boats have towers, outriggers, or antennas and are they folded down? Big sailboats are usually a dead giveaway that you have both deep water and good bridge clearance.   If the day is bright and sunny, take a good look with polarized sunglasses and make note of any channels, bars, etc. that you may see.  This will often give you an immediate idea of what is feasible for your location.  The next step is to approach any location your are considering purchasing by boat, don’t take someones word for it and most importantly don’t rely on satellite photos! They often are outdated and do not depict the current bottom conditions.  When approaching for the first time take note of the tide (how high or low is it).  This is important in Southwest Florida as there are many locations provide easy access during the high tides of summer for larger vessels but may render themselves virtually inaccessible during the generally lower tide winter season.  Tides in Southwest Florida can fluctuate as much as 3.5 feet, but a typical swing is about 1.5-2.0 feet. Check the height on bridges.  If there are any draw or swing bridges, be sure to find out what times they operate.  If you have a larger boat that requires a bridge opening, you may not be happy with only having access 9-5 when the bridge is in operation.  Watch for any other obvious restriction with regards to depth, height, or width.

Large dock with boat lift in Grove City. Immediate (and bridge-less) deep water access to Stump Pass and the Gulf of Mexico.

Having established that the physical parameters of a dock will work for you, its time to consider your preferences.  Do you want to be on a canal or open water?  Canals are great for boat storage because they are generally well protected, and often are priced more reasonably than those with open water views.  Before deciding the canal is for you, take a look at the width of the canal and consider whether there is one way in and out, or does it continue through in a loop.  Some canals have terrific water depth and are well protected from weather, but when full of boats they are almost impossible to turn around in.  This is particularly a consideration on a canal that does not continue out to open water on both ends.  Open water will usually offer the superior view, but may offer less protection for your vessel.  Look at the length and width of the body and water, and think about which direction the trade winds blow, and which direction storms come from.  Are there any shallow flats or bars protecting the dock?  A nice shallow flat will know boat wakes and wind driven chop down in a hurry.  A long stretch of unobstructed water in which the wind is blowing perpendicular to shore can mean a stiff chop at the dock.  Is the portion in front of the home an idle speed zone, and if not, how far away is the channel. This will determine how much wave action you will receive from boat wakes.

Another reason for taking a waterborne approach to your prospective property is to figure out how long the idle speed zones may be.  Proximity to inlets, restaurants, fishing, diving, and other recreational sites is easy to determine simply by looking at a map.  What is not easy to determine is what your actual travel time may be to these locations.  New homeowners who failed to approach a property by water may find themselves dismayed by their actual travel time to and from locations based on idle speed zones.  Location “A” may be half the distance to your nearest inlet, but location “B” may take one-half, or even one-quarter the travel time to get there.

Deep water mooring for a 65' vessel on Little Gasparilla Island.

Last but not least, here are few things to keep in mind to avoid some common pitfalls associated with boating properties.  Docks and permitting are a complicated and ever changing process. Make sure that the dock your are looking at is permitted as a dock and boat slip, and not simply as a “pier.”  Just because there is a wooden structure in the water, and even if it HAS a boat tied to it, you don’t want to be on the losing end of a run in with the DEP only to find out that your property really isn’t a boating property.  There are many “piers” that are permitted in environmentally sensitive areas (think sea grasses) that are not meant to be used as boat docks, but may be used  for that purpose (albeit illegitimately) at times.  Likewise, if you have plans to add a dock, pier, boat lift, or boat slip, have a qualified professional assess the situation first.  There are often small details that make the difference in having a fabulous dock, and having an empty shoreline good only for launching the occasional canoe or kayak.

The best advice for those looking at purchasing a boat friendly property is to see the water for yourself.  Ask your agent to take you to the property by boat.  Ask lots of questions about the approach, height and depth restrictions, environmentally sensitive areas (manatee zones, sea grass areas, no motor zones, etc.), seasonal tide fluctuations, and storm related wave action.  Living on the water can be such an enjoyable thing, and even more magical when you have a boat. As a matter of fact that’s why most of us live here in South Florida!

I always invite my customers to tour waterfront properties with me by boat, so if you are in the market and boating is important to you, let’s go check out some of these incredible opportunities open to buyers right now.

Jennifer

jennifer@freshcoastalproperties.com
941.457.0845

There are some unbelievable deals available in the Hammocks right now. With a fantastic pool, fitness center, tennis courts, and club house, the amenities in this newer condominium development are some of the best in our region. Additionally, you are a short golf-cart ride (or walk) from the Palm Island white sand beaches, several restaurants, and two marinas.

Check these out for starters:

8541 Amberjack Circle #102 – $130,000 for a sharp 3 bedroom 2 bath condo with nice finishes and good amenities. This is a short-sale so you could be waiting around for a bit, but hey, isn’t it worth it for a deal like this?

10600 Lemon Creek Loop #104 – $165,000 This is a spacious and bright 4 bedroom townhome with 2 1/2 baths. Now, again, this is a short-sale so you’ll have to wait, but geez people, what a deal–these were going for over 600k a few years back!

Here’s a link to several other deals in the Hammocks of Cape Haze. If you want to visit The Hammocks of Cape Haze or other surrounding projects or homes, please let me know and I’ll be happy to provide you a tour of some of the best deals. My site Fresh Coastal Properties has a database for easy searching of all of the active listings in Southwest Florida, so spend a few moments to see how many bargains are out there right now–you’ll be amazed!

The Gulf of Mexico Deepwater Horizon oil spill is weighing heavily on the minds of residents and travelers to the Gulf region alike. As you can see from the model below provided by NOAA, the chance of oil affecting the Charlotte Harbor, Boca Grande, Englewood and Sarasota region is less than 1%. LESS THAN 1%!!!!

Above: The National Oceanic and Atmospheric Administration (NOAA) has used computer models to estimate the potential threats to U.S. coastlines that might result if oil spilling from the Deepwater Horizon site continues until a relief well successfully stops the flow. Although it is impossible to predict precisely where surface oil will go in the coming months, it is possible to analyze where surface oil is most likely to go by (a) using historical wind and ocean current records; and (b) accounting for both natural processes of “weathering” and human intervention to recover and remove the oil. Read more here.

GAINESVILLE, Fla. – April 29, 2010 – Florida real estate markets show the first tentative signs of recovering from the most painful recession in the state’s history, according to the latest University of Florida (UF) report.

“Results of our first quarter survey indicate that the real estate market in Florida has hit bottom and is in the process of stabilizing across most property types,” says Timothy Becker, director of UF’s Bergstrom Center for Real Estate Studies.

But while most of the survey respondents report the market probably won’t get any worse, few say it has actually begun to improve yet, Becker says. “One of our respondents summed it up by stating that ‘if anything, we will get less bad.’”

On the positive side, private capital – both foreign and domestic – is continuing to enter the state in search of quality investment deals. As banks start to deal with their problem assets, more deals will come to market.

Another good sign: Life insurance companies have started to re-invest in commercial properties after backing off for the last year and a half, Becker says. Because these companies use premiums from life insurance policies to make investments, they are not deterred by the lack of available bank financing.

“(Life insurance companies) see the fundamentals of the economy stabilizing and they see the opportunity to get quality assets at a good price,” Becker says. “So if they think things aren’t going to get worse and they may actually get better, it follows that they’re going to want to start investing again.”

On the negative side, unemployment continues to be one of the state’s biggest problems, edging up to 12.3 percent in March, its highest level since the state began keeping count in the 1970s. Florida has lost more than 880,000 jobs since 2007.

Although there is a potential for job growth later in the year, even under the most optimistic assumptions it will take three to four years to return to 2006 levels, Becker says.

Also of concern is the continued reluctance of commercial banks to lend money because of pressure from regulators to manage risks along with depressed values that make it difficult to refinance mortgages.

The retail and office markets are the worst off, Becker says. “Until there is an increase in job growth, there is no need for more office space, and people aren’t spending as much money as they used to.”

Apartments continue to be the best market in the state due to high demand from people moving out of foreclosed homes. “More people are going to be living in temporary spaces than trying to buy homes just because it’s gotten a lot more difficult to buy homes from a financing perspective,” Becker says.

Statewide, Florida’s new housing market will continue to be slow, a result of more foreclosed homes becoming available. “That competition makes it very difficult for new homes to get built and purchased because buyers can often get an equal or nicer home for a much cheaper price on the foreclosure market,” Becker says.

One of the strongest areas of the state is South Florida, especially Miami-Dade and Broward counties, with their diverse economies, steady migration and influx of foreign capital. “The glut of condos in South Florida is actually starting to change hands – they’re beginning to rent them – and I think there is more life in downtown Miami than there has been in a long time,” Becker says.

Orlando, Tampa and Jacksonville also are picking up. “Florida’s big cities – those four areas – are less bad off than the rest of the state, and they’re going to recover quicker than other places,” Becker says.

Jacksonville, in particular, is in a good position because its housing market never got as hot as other markets; and, as a result, it doesn’t have as many foreclosures. “I think Jacksonville is primed to really take off, and with the expansion of the port is going to have a lot of jobs coming into the marketplace,” Becker says.

A positive note overall is that survey respondents’ confidence in their own business has risen for the fifth consecutive quarter. In previous breakdowns by profession, developers and lenders had extremely low expectations for their own businesses, and that has grown substantially in the last few surveys.

“It’s always a good sign for us that the lenders think their business is going to get better,” Becker says. “Maybe it means there is some light at the end of the tunnel, even though we’re still not at a great spot.”

Okay, so Englewood Florida needs a new wi-fi hotspot, coffee shop, cupcake dealer, and this is the best pace to do it! 1070 South McCall is located right on the main drag in downtown Englewood Florida. It has great curb appeal, lots of parking (just recently paved), a corner lot situated at a stop light, and is only two blocks from Beach Road to Manasota Key. It is a short-sale at $179,000 which is just crazy talk people. C’mon, you’ve got to check this place out. I know, I know… Wi-Fi Pie. Complimentary Wi-Fi and tasty pies and cakes? I’ll even throw in the business name and concept for free.

Get all the details for 1070 South McCall here.

Last Friday opened a new group of paintings at David Weinberg Gallery in Chicago. I completed these works over the past 10 months or so. Here are a few examples. The show will be on view through May 29th. Also, don’t forget to visit the David Weinberg Gallery booth at Art Chicago this year–I’ll have some works on view there as well. Read more about my paintings by visiting my site www.jenniferscott.com.

WASHINGTON – March 3, 2010 – Signs of a recovery in the real estate market indicate this may not be the “Winter of your Discount Tent.” Home sales, value and mortgage applications have risen slightly as mortgage rates stand at a historic low.

This slight glimmer of positive news is offset by estimates that about 48 percent of all U.S. mortgages will be underwater by 2011. Foreclosures and short sales continue to plague the market, keeping a lid on home prices. As a result, 2010 will continue to be a buyer’s market.

That doesn’t mean, however, that all hope is lost of selling your home this year. Here are nine tips to sell your home in 2010.

1. Don’t wait for a recovery

Home values aren’t likely to rebound to previous highs for several years, perhaps even a decade. While you may face a loss by selling now, that negative figure may only be a paper loss, particularly if you’ve owned your home for some time.

2. Make improvements

If you have access to credit, invest in improving and repairing your home before placing it on the market, rather than trying to go for a quick as-is sale. Rehabs are more affordable now, thanks to the availability of low financing, reduced construction materials costs and lower contractor charges. Focus on upgrades to kitchens and bathrooms, especially counters and cabinets, as these yield the highest returns. Get three different estimates from contractors and add another 10 percent for unexpected costs.

4. Hire professionals

You need professionals, not friends or relatives, to repair, upgrade and sell the biggest investment you’ll likely own. Ask for credentials, references and a history of recent performance. Your appraiser should have at least five years experience with an appropriate license or certification. The same applies to hiring a home inspector. Talk to at least two or three appraisers and inspectors before selecting one.

5. Get downpayment assistance

Federal and local governments offer several downpayment assistance programs for first-time home buyers. Look for other city, county and state programs that will piggyback on federal programs for assistance. Search for “downpayment assistance programs” with the name of your region.

6. Take Uncle Sam’s help

The $8,000 first-time homebuyer tax credit program that helped jump-start the real estate market in 2009 has been extended into 2010 and expanded. First-time homebuyers qualify if they sign a binding contract to buy a home by April 30 and close by June 30. The program’s maximum income limits have jumped from $75,000 to $125,000 for individuals and from $150,000 to $225,000 for couples.

A separate $6,500 tax credit has been added for those who have owned their homes for at least five years and want to upgrade. Homeowners drowning in their present real estate loans are eligible for a loan-modification program with their current mortgage company or loan service through the Making Home Affordable Program (http://makinghomeaffordable.gov/).

7. Price accordingly

Listings move when a property is appropriately priced. Others gather dust because the owners haven’t adjusted their expectations to the present market. This doesn’t mean, however, you should severely drop your price on a well-maintained home to avoid extended problems. Research your market and price accordingly.

8. Energy tax credits

Through Dec. 31, homeowners who buy and install specific energy-efficient windows, insulation, roofs, doors and heating and air-conditioning equipment can apply for a 30-percent tax credit of up to $1,500 of their costs on each product.

Go one step further and earn a 30-percent tax credit through 2016 (without a spending limit) when you purchase such energy-saving products as solar energy systems, geothermal heat pumps, small wind systems, residential fuel cells and micro-turbine systems. Visit EnergyStar’s Federal Tax Credits for Energy Efficiency (http://www.energystar.gov/index.cfm?ctax-credits.tx-index) for a complete summary.

9. It’s not personal

Buyers want to imagine themselves in your house for years to come. Excess decor and knick-knacks distract from this vision. Ask your Realtor’s advice or hire a home stager to bring your house back to zero before beginning to show it. A general rule of thumb is to eliminate or store at least half the items in every room.

Don’t get defensive about colors, design patterns or flooring you installed. Just grit your teeth and think of the closing check while your agent serves as a buffer. Remember the customer is always right, unless, of course, they’re low-balling you.

NEW YORK – March 2, 2010 – Billionaire investor Warren Buffett predicted that the real estate market downturn would end by 2011 as the housing inventory declines.

“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote in his annual letter to the shareholders of Berkshire Hathaway, where he is chairman and CEO. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.”

He also pinpointed what he sees as the cause of the downturn. “People thought it was good news a few years back when housing starts – the supply side of the picture – were running about 2 million annually,” wrote Buffett, “But household formations – the demand side – only amounted to about 1.2 million.”

Source: Bloomberg News, Andrew Frye (03/01/2010)

Here’s a new listing for $649,000 in Grove City. This lot is really amazing–you just want to sit in the pool with a frozen beverage and watch the boats go by! If you like boating and want to partake in the Florida lifestyle, this is your place. Lemon Bay sits right outside your back door and Stump Pass is across the Intracoastal Waterway (ICW). Boat lift, dockage for two vessels, huge lanai, Florida room, two bedroom (with a third non-conforming), well manicured landscaping. I think this place has great potential. Read more on 1909 Georgia Avenue. View the Virtual Tour.

The Southwest Florida housing market is like Saks having a crazy 50%-80% off everything in the store sale. There is so much on the market now offered for but a fraction of it’s value from three years ago, it’s kind fun to run around and think of the possibilities…A pair of Jimmy Choos for $50.00? Crazy! A penthouse condo in the exclusive Hammocks community for $298,500? Also crazy! But that is whats happening around here right now.

This particular Hammocks penthouse is a very tasteful 4 bedroom, 4 bath with some really nice detailing including a super fantastic kitchen, dark hardwoods, designer fixtures and tasteful window coverings–something unusual in this area where traditionally we only see– “the beachier the, the better” theme. This condo is a short-sale so be prepared for a wait, but a wait on this one will definitely be worth it.

Here is the virtual tour and the MLS info may be found here: Cape Haze Condo at the Hammocks for Sale. Check it out and see for yourself.