The luxury home market is strong in Punta Gorda...and for good reason! Where else can discriminating buyers purchase a luxury home situated on the water with in a thriving SW Florida town for these prices?
Those looking to live the high end lifestyle for low end prices should check out the newly launched "Luxury Homes of Punta Gorda" site at www.LuxuryHomesofPuntaGorda.com.
Sunday, October 25, 2009
Update on Area Foreclosures
September home sales soared 42 percent in the Sarasota-Bradenton market and 56 percent in Charlotte County-North Port, spurred again by bargain-priced foreclosures and the $8,000 first-time homebuyers tax credit.
Even with distressed property so prevalent in the mix, prices held flat to the north and rose 7 percent month over month to the south.
Lower-priced homes remain in strong demand.
"We are red-hot below the $200,000 mark and if you have something nice below $100,000 you can expect multiple offers," said Charryl Youman, vice president of the Venice Chapter of the Women's Council of Realtors. "This is an opportunistic market for buyers like I've never seen."
The strong regional performance came against the backdrop of statewide sales that rose 34 percent. Sales across the nation rose 9.4 percent last month -- the highest level in two years -- as buyers scrambled to complete their deals before the tax credit expires.
But the strong performance in Southwest Florida continued the debate about whether pricing has bottomed.
"Have we reached the bottom in Venice in the lower price range? Yes, we have," said Youman, an agent with Prudential Florida Realty. "Where we haven't seen people line up for is anything above $400,000."
She cited the Gran Paradiso development in Venice as an example of pricing pressures. Originally listed at $626,000, the furnished and decorated three-bedroom, two-bath homes with a pool and lake view have been reduced to $389,000.
Youman has sold 41 homes in Sarasota County this year -- nearly half within the last 90 days.
But others remain unconvinced that such positive signs signal that housing has exited the doldrums, especially with rapidly rising unemployment.
"I don't know if we've seen anything dramatically different with these new numbers," said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. "Activity is up, but prices are not clearly finding the bottom yet."
A true turnaround in Florida's housing market could be some time away, he said.
"Until we get that stabilization of prices and start heading north instead of south, it's hard to say that we're talking about a housing market that's back in balance," Snaith said.
'A mini-boom'
Though sales rose 34 percent statewide, pricing slipped month-over-month, down about 4 percent from $142,000 in August, data released Friday by the Florida Association of Realtors showed.
The median sales price nationally was $174,900, slightly lower than August's $177,300.
Closer to home, foreclosures in Sarasota are beginning to feature more homes at the upper end, said Adam Robinson, with Siesta Key-based Key Realty.
"We're seeing more of the higher-end properties coming on the market, though that's not what's selling right now," Robinson said of his territory. "Anything under $450,000 is where the buyers are, and under $250,000 you are usually seeing multiple offers."
One reason it is proving difficult to move high-end properties is financing. Jumbo loans are not easy to come by, so even a home discounted from $1 million to $700,000 is a tough sell because buyers still need 20 percent down and face a high interest rate if they can even get the loan.
"Even if you have excellent credit, it remains difficult," Robinson said. "If they don't have cash, they could have a challenge."
Is the worst over?
While home sales and housing construction have risen steadily after hitting bottom earlier this year, most economists believe that the worst is not over for home values.
The rising jobless rate, currently at 9.8 percent nationally and 12.5 percent in Southwest Florida, is likely to put more people behind on their mortgages and push more into foreclosure.
"There's more supply that's going to come into the marketplace," said Stan Humphries, chief economist at real estate Web site Zillow.com. "That additional supply will outpace demand."
Whatever the future may hold, Betty Grambell is enjoying the moment. The manager with Bradenton's Wagner Realty said out-of-state buyers are flooding her with phone calls and e-mails.
"They're hearing that it is a good time to buy and they have taken care of their financial situations up north and they are in a buy mode," she said.
Sales activity for Wagner is on track to double this month when compared with September as people not only rush on the tax credit, but to be in their homes by the end of the year so they can claim a homestead exemption.
"I'm pleasantly surprised," she said. "I'm really looking forward to a good month."
Information from The Associated Press was used in this story.
Courtesy of HeraldTribune.com
Even with distressed property so prevalent in the mix, prices held flat to the north and rose 7 percent month over month to the south.
Lower-priced homes remain in strong demand.
"We are red-hot below the $200,000 mark and if you have something nice below $100,000 you can expect multiple offers," said Charryl Youman, vice president of the Venice Chapter of the Women's Council of Realtors. "This is an opportunistic market for buyers like I've never seen."
The strong regional performance came against the backdrop of statewide sales that rose 34 percent. Sales across the nation rose 9.4 percent last month -- the highest level in two years -- as buyers scrambled to complete their deals before the tax credit expires.
But the strong performance in Southwest Florida continued the debate about whether pricing has bottomed.
"Have we reached the bottom in Venice in the lower price range? Yes, we have," said Youman, an agent with Prudential Florida Realty. "Where we haven't seen people line up for is anything above $400,000."
She cited the Gran Paradiso development in Venice as an example of pricing pressures. Originally listed at $626,000, the furnished and decorated three-bedroom, two-bath homes with a pool and lake view have been reduced to $389,000.
Youman has sold 41 homes in Sarasota County this year -- nearly half within the last 90 days.
But others remain unconvinced that such positive signs signal that housing has exited the doldrums, especially with rapidly rising unemployment.
"I don't know if we've seen anything dramatically different with these new numbers," said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. "Activity is up, but prices are not clearly finding the bottom yet."
A true turnaround in Florida's housing market could be some time away, he said.
"Until we get that stabilization of prices and start heading north instead of south, it's hard to say that we're talking about a housing market that's back in balance," Snaith said.
'A mini-boom'
Though sales rose 34 percent statewide, pricing slipped month-over-month, down about 4 percent from $142,000 in August, data released Friday by the Florida Association of Realtors showed.
The median sales price nationally was $174,900, slightly lower than August's $177,300.
Closer to home, foreclosures in Sarasota are beginning to feature more homes at the upper end, said Adam Robinson, with Siesta Key-based Key Realty.
"We're seeing more of the higher-end properties coming on the market, though that's not what's selling right now," Robinson said of his territory. "Anything under $450,000 is where the buyers are, and under $250,000 you are usually seeing multiple offers."
One reason it is proving difficult to move high-end properties is financing. Jumbo loans are not easy to come by, so even a home discounted from $1 million to $700,000 is a tough sell because buyers still need 20 percent down and face a high interest rate if they can even get the loan.
"Even if you have excellent credit, it remains difficult," Robinson said. "If they don't have cash, they could have a challenge."
Is the worst over?
While home sales and housing construction have risen steadily after hitting bottom earlier this year, most economists believe that the worst is not over for home values.
The rising jobless rate, currently at 9.8 percent nationally and 12.5 percent in Southwest Florida, is likely to put more people behind on their mortgages and push more into foreclosure.
"There's more supply that's going to come into the marketplace," said Stan Humphries, chief economist at real estate Web site Zillow.com. "That additional supply will outpace demand."
Whatever the future may hold, Betty Grambell is enjoying the moment. The manager with Bradenton's Wagner Realty said out-of-state buyers are flooding her with phone calls and e-mails.
"They're hearing that it is a good time to buy and they have taken care of their financial situations up north and they are in a buy mode," she said.
Sales activity for Wagner is on track to double this month when compared with September as people not only rush on the tax credit, but to be in their homes by the end of the year so they can claim a homestead exemption.
"I'm pleasantly surprised," she said. "I'm really looking forward to a good month."
Information from The Associated Press was used in this story.
Courtesy of HeraldTribune.com
Thursday, October 1, 2009
Parkapoolza!!
Charlotte County, FL - Charlotte County Parks, Recreation & Cultural Resources will host PARKapalooza at the CharlotteSportsPark. This all-day music festival will feature Little River Band along with merchandise vendors, food and beverages, a kid’s game zone, and plenty of live entertainment. See the poster here!
Tickets for this event are now available for $10 per person in advance of the event or $15 per person on the day of the event (admission for ages 3 and under is free).
Vendors wishing to obtain space to sell their products or services will be given the opportunity to do so on a pre-registration basis; however, space is limited to the first fifty (50) paid applicants.
Please contact the CharlotteSportsPark at 941.235.5010 or visit our website at www.CharlotteCountyFL.com and follow the PARKapalooza link for ticket sales, event information, and vendor applications.
The public can also call 941.625.PLAY to learn more about this and other Parks, Recreation & Cultural Resources events and programs.
Date: Saturday, October 10, 2009
Time: 12:00 p.m. – 10:00 p.m.
Location: Charlotte Sports Park
Tickets for this event are now available for $10 per person in advance of the event or $15 per person on the day of the event (admission for ages 3 and under is free).
Vendors wishing to obtain space to sell their products or services will be given the opportunity to do so on a pre-registration basis; however, space is limited to the first fifty (50) paid applicants.
Please contact the CharlotteSportsPark at 941.235.5010 or visit our website at www.CharlotteCountyFL.com and follow the PARKapalooza link for ticket sales, event information, and vendor applications.
The public can also call 941.625.PLAY to learn more about this and other Parks, Recreation & Cultural Resources events and programs.
Date: Saturday, October 10, 2009
Time: 12:00 p.m. – 10:00 p.m.
Location: Charlotte Sports Park
Wednesday, September 9, 2009
ANNOUNCING! 25 Best Places to Retire-PORT CHARLOTTE!!
Port Charlotte, Fla.
Port Charlotte is tops for sailors.
Population: 48,000
% over 50: 44%
Typical 3-bedroom home: $170,000
Housing prices down: 63%
State income tax: None
Port Charlotte is tops for sailors.
Population: 48,000
% over 50: 44%
Typical 3-bedroom home: $170,000
Housing prices down: 63%
State income tax: None
Lots of places in Florida have been battered by the housing bust. But this laid-back Gulf Coast town, just across Charlotte Harbor from pricier Punta Gorda, arguably best hits the sweet spot of great prices and great amenities.
Homes here cost less than half what they did in late 2005, and about 40% of them sit on canals and waterways leading to the harbor - which has 270 square miles of cruising waters and 219 miles of protected shoreline.
But H20 is far from the only reason to move here. The area boasts top-notch medical facilities. The town's Cultural Center houses a 500-seat theater and offers year-round classes in everything from Japanese embroidery to belly dancing. And there's great bird watching in 42,000-acre Charlotte Harbor Preserve State Park, which has hundreds of avian species and is crisscrossed with hiking trails and kayaking blueways.
The lack of a Florida tax on income -- including interest and dividend income -- only sweetens the deal. --S.M.
See complete data, including tax rates, for Port Charlotte
See complete data, including tax rates, for Port Charlotte
Contact Hollie Dustin, HomeChoice Real Estate to grab your dream home here! 941-916-2251, anytime!
Thursday, August 20, 2009
StormPulse Hurricane Tracker
It's that time again, folks.....
With the pleasures of living in paradise comes the dreaded anticipation of Hurricane Season...now in full swing. Stay on top of the latest hurricane activity to affect southwest Florida by visiting StormPulse...
Wednesday, August 12, 2009
Punta Gorda's five-year revitalization began on August 13, 2004 and has been going strong ever since. Join the citizens, businesses, and local government who have been working together in partnership to achieve dramatic results. We welcome those who helped Punta Gorda begin this process, especially those from surrounding counties without whom the revitalization would have had a slower start. Save the date of August 15, 2009 for Punta Gorda's Five-Year Xtreme Makeover Celebration. Festivities will begin at 1 p.m. in Laishley Park. Don't miss the fireworks that will cap off a day of fun for people of all ages. Come together as a community... Visit the website here.
Tuesday, August 11, 2009
Remember August 13th, 2004?
Hurricane Charley made landfall in southwest Florida on Aug. 13, 2004. Not since Hurricane Andrew in 1992 had the Florida peninsula seen such devastation. Five years after Hurricane Charley, Punta Gorda has emerged better than before. Read the story and actually click on the photos to see the same scene immediately following Hurricane Charley...by Emily Nipps:
http://blogs.tampabay.com/photo/2009/08/hurricane-charley-punta-gorda-anniversary.htmlTuesday, August 4, 2009
Monday, August 3, 2009
Charlotte County Prescription Savings
Your entire family will truly enjoy the savings of up to 65% for each prescription filled and overall savings of up to 40% annually. Please take the time to familiarize yourself with all of the benefits of the discount prescription card.
Charlotte County is now offering its residents a free discount prescription card to help lower their cost of obtaining prescription drugs. While the card is generally for people without health insurance, the card in many cases has better pricing than what people with health insurance are paying for their prescriptions. So it's good for everyone to compare pricing even if they have insurance.
With the Charlotte County free discount prescription card you will save up to 65% on individual brand-name and generic drugs.Pet prescriptions are included too! Click here to print your own savings card
Subscribe to:
Posts (Atom)
Posts
