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April 2020 Newsletter

An eerie quiet has settled over Spanish Wells as residents focus on social distancing to prevent the spread of COVID-19. Bikers, walkers, and joggers are giving lots of space, with very few motorists on the streets of the community. Spanish Wells Country Club is closed, with the exception of the snack bar and golf course. Golfers are using separate carts and giving each other space on tees and greens. Pins have been re-designed so that they do not have to be touched.

Fortunately, real estate has continued to function to some degree as we move through this pandemic. Because it’s so easy to view properties for sale through online photos and virtual tours, we have buyers utilizing their time in the safety of their home by browsing for homes of interest. To aid in your search, you may visit the Boeglin Team website 24/7 at www.boeglinteam.com. Under the “Communities” menu item at the top, you may access many golf and non-golf communities in our area, and Jan is adding more in the near future, so please check back from time to time. If you are specifically interested in what Spanish Wells currently has to offer in homes for sale, click the following link to browse through those options: http://boeglinteam.com/spanish-wells/.

Open houses have been suspended, but at least for now “in person” showings are still available for all our listings, and many others. If you must see a home in person, we should be able to accommodate a showing by taking all the necessary precautions. We are seeing each day that through MLS many homes throughout the area are still going under contract, and that is encouraging. With wild fluctuations in the stock market, residential real estate has offered a relatively stable alternative.

We are finding that bringing existing contracts to a close is going smoothly, since most necessary communication with other realtors, title companies, and mortgage brokers can all be done remotely. Many home inspectors are still offering their services so that you will have the peace of mind needed to move forward with your purchase. We very much appreciate the cooperative spirit we are experiencing during this trying time, and we feel very blessed that we are still able to work with so many wonderful and gifted partners!

With the slowdown, it is obviously not a great time to put your home on the market, but what should you do if you NEED to sell your home soon? Call any member of the Boeglin Team for our counsel and advice. Because sellers’ life situations and goals vary greatly, we will use our vast experience to help you determine the best steps to take moving forward.

Turning to the current market activity, there were 9 closed sales during March and an additional 12 homes are under contract and pending closing. A total of 29 homes (including condos) remain on the market for sale.

Following are the neighborhood statistics for the Spanish Wells Community as of the end of March, 2020:

Single Family Homes in Original Spanish Wells
• 12 homes listed (2% of 495 total) with prices ranging from $399,500 to $650,000
• In the last 12 months 28 of these homes have sold for an average price of $441,161 or $191 per square foot

Single Family Homes in Marbella
• 1 home listed (1% of 86 total) priced at $480,000
• In the last 12 months 5 of these homes sold for an average price of $392,000 or $169 per square foot

Lake Club Villas
• 4 homes listed (4% of 104 total) with prices ranging from $425,000 to $529,000
• In the last 12 months 2 of these homes sold for an average price of $486,000 or $199 per square foot

Cordova
• 3 home listed (2% of 128 total) with prices ranging from $499,900 to $547,777
• In the last 12 months 7 of these homes sold for an average price of $537,214 or $235 per square foot

Marbella Carriage and Coach Homes
• 5 homes listed (3% of 192 total) with prices ranging from $261,000 to $279,900
• In the last 12 months 14 of these homes sold for an average price of $253,493 or $144 per square foot

Marbella Three Story Condos
• 2 homes listed (3% of 64 total) with prices ranging from $219.000 to $225,000
• In the last 12 months 2 of these homes sold for an average price of $244,000 or $120 per square foot

Las Brisas Condos, Coach Homes, Villas, etc.
• 2 homes listed (1% of 210 total) with prices ranging from $264,900 to $287,500
• In the last 12 months 12 of these homes sold for an average price of $264,067 or $169 per square foot

Golf Condos/Townhouses
• 0 homes listed
• In the last 12 months 5 of these homes sold for an average price of $186,500 or $142 per square foot

In this time of challenge, all of us need to be aware of neighbors possibly in need of help. Let’s make the kindnessvirus stronger than the coronavirus and weather this storm together.