Buyer Incentives There For the Taking

Today’s News-Press reports that you can ask any honest real estate broker and they’ll tell you that the Southwest Florida housing market is ripe for buyers.

Hundreds of homes are on the market in Bonita Springs and few of them are selling, but one broker is, at least, trying to sweeten the deal and tempt buyers with a deal that seems too good to be true.

Bob Patteri, a broker with Sunwest Realty and partner of Breeze Development of North Naples, is offering a deal on a Morton Avenue home that is bound to turn some heads.

The sign attached to the garage at the new home reads: BUY THIS HOME and GET A NEW CAR FREE.

In the Naples housing market, people will try anything. According to Patteri, a developer bought 20 lots along Morton Avenue. So far, two homes have been built — but they aren’t selling.

“We asked, ‘What’s it going to take to sell these homes?’” Patteri said.

With Florida mortgage loan costs this high, that’s a good question. It’s a lot for a middle-class family to pay, that $409,000 price tag. So a little outside-the-box thinking never hurt.

The home with the sign attached to it contains two stories and has three bedrooms, two and a half bathrooms, granite countertops and a three-car garage. The home next door, also on the market, is a three-bedroom ranch with two bathrooms, upgraded carpets and a 30-foot lanai.

“This is the first time we’ve done anything like this,” Patteri said. “We dropped the home price on the two-story property from $409,000 to $379,000.”

Patteri explained the car the new owner would receive would likely be in the $15,000-$16,000 price range. Probably not what we picture above.

“Something like a (Chevy) Malibu,” he said.

Not everyone needs a car, however.

Patteri said buyers also could opt for no Florida home mortgage payments for an entire year - potential five-figure savings - and a free one-year membership at the Bonita Springs YMCA.

Brokers and sellers are also trying to push no closing costs left and right as a means of spurring sales by saving buyers a few grand out of pocket.

“We wanted to turn some heads with this,” Patteri said. “This is a working-class neighborhood and offering a year without a Florida mortgage payment may be enticing for a young family.”