What to Expect from Boca Grande Real Estate in 2022

Boca Grande’s relaxed island life is surrounded by a pristine coastline, and this natural beauty is the primary draw to the area. Travelers come for the famous tarpon fishing and the many opportunities to enjoy idyllic tropical beach days. It’s an ideal place for a vacation home as you won’t want to leave once you get here.

Close to 1,000 people per day are moving to Florida, and since 2010, the state has gained 2.7 million new residents. It’s not just the retirees who are lured by the low taxes and constant sunshine – millennials have reached the age where they are secure in their career, are ready to buy a home, and are drawn to the benefits afforded by the state. With the combination of growing remote work opportunities and the ability for their dollars to go further outside of a major city, they too want to pack up and move to Florida. Boca Grande condos for sale provide a more affordable way for young families to enjoy the gorgeous beaches and relaxed lifestyle. In this stunning community, you can truly have it all.

There is a shortage of homes for sale in Boca Grande, FL and of available properties across the country. New construction has not kept up with the growing population of first-time homebuyers. In some areas, construction has been hindered by a lack of suitable land for building new developments, labor shortages, and inventory supply disruptions. However, there are new condominium developments underway along with residential developments – some of which are well suited to first-time homebuyers. Nevertheless, it is going to take a few years or more for supply to catch up to demand. 

Even with the tight inventory, there are opportunities for investors. The rental market is strong and growing. Due to rising home values and a low number of available, the incoming generation is being driven by first-time homebuyers who are renting for longer periods of time before buying – making the amount of short-term rental opportunities explode. Some estimates put the short-term rental growth in Boca Grande up by 78%. If you are looking for Boca Grande condos for sale as an investment property, be sure to check the rental laws of the building so you can benefit from this advantageous situation.

Since the moratorium was lifted in July 2021, foreclosures have spiked. Signs point toward this trend continuing as there are still many distressed homeowners who are behind on their payments. While this is not good news for our economy, it does open the door for investors to buy repossessed units. Because the selling price is typically lower, they are good properties for flipping or renting.

Florida and Boca Grande are in a strong seller’s market, giving the owners of homes for sale Boca Grande, FL a strong advantage. They often receive multiple bids, which push the sale for their property over the listing price. Homeowners can possibly forgo some repairs before selling the property and also ask the buyer to pay the seller’s closing costs.

Let’s explore what you want to keep in mind if you are selling property in a seller’s market. The best way to receive multiple offers and receive more than the asking price is to prepare your property well for showing and put the right listing price on the home. When you work with an experienced realtor, they will help you determine which repairs or upgrades are necessary on the property and help you set a strategic asking price to engage qualified buyers.

 

Due to the rush of people looking for a home during the record-low mortgage rates and the tight available inventory, the values of homes rose across the country. In many areas, sales and home values reached record levels. Many homeowners have taken advantage of the increased equity in their home by leveraging it to purchase an investment property – a smart way to grow your wealth.

Other homebuyers are wondering if they should wait until the market cools off. However, mortgage rates will likely continue to inch upward though it is unlikely they will reach levels deterring people from purchasing a home. New laws and regulations are also in place to prevent a housing bubble like we saw back in 2008. If you are looking to purchase Boca Grande condos for sale, don’t wait for prices and interest rates to go up. Make your move now.

Even though inventory is tight and properties are selling faster than in previous years, you can still find the home of your dreams and a solid real estate investment. The key is to be prepared. Know which features you need in your next home and have your finances secured so you can make an offer right away when you find the property you want. With the right strategy, patience, and a little luck, you’ll be able to successfully navigate all the homes for sale in Boca Grande, FL.

In a competitive market like the one we are currently in, it’s essential to work with an expert to win the bid on Boca Grande condos for sale or other real estate. Experienced realtors have developed relationships with their industry peers and service providers and are trusted and respected in their field. This makes them powerful negotiators as they can get to the heart of what the seller wants so you can adapt accordingly and win the bid.

Local realtors also have a strong pulse on the market and are skilled in setting a listing price to attract offers. Additionally, they are adept with modern marketing tools to promote your property to the greatest number of targeted buyers.

Contact Olivia Jones to learn more about the nuances of the 2022 real estate market in the Boca Grande area. She is highly experienced with buying and selling investment, luxury, and waterfront property.