Archive for April, 2006
April 25th, 2006
I write this blog from aboard a cruise ship returning from a trip to the eastern Caribbean where we visited Old San Juan, Puerto Rico, Antigua and St. Maarten. This was a trip of two purposes for us, one to get some much needed rest and relaxation, the other to compare what these islands had to offer and to network with local realtors.
Living in Punta Gorda, Florida, you would think, “Why would you want to take cruise to the Caribbean?” Let’s just say the old adage, “The grass is always greener on the other side of the fence,” could be one used however, I discovered, “There’s no place like home” is probably more fitting.
Sure we saw teal blue/green water and some white sandy beaches but we have that in as close proximity to where we had to take a taxi to get to them. And yes, once getting off the cruise ship we were greeted with plenty of novelty shops and restaurants but, once you went outside these areas that were just a few streets wide and perhaps a mile long, you quickly realized you were in a small enclave surrounded by a very poor and rural environment. Seeing very modest homes with large cisterns to capture water for everyday use and fans which for many was there only source to cool themselves from the hot Caribbean sun, I started to realize what we took for granted, but then I realized something else; all the things that I came to this area of the world to do, I had in my own backyard.
Punta Gorda and Charlotte County have a quality of life and amenities that few places in the world can offer with year round beautiful weather that allows us to boat, golf, shop or site see whenever we want, “Why go anywhere else?” Within 30-45 minutes you can be in the Gulf of Mexico where you can be fishing for Tarpon, considered one of the worlds best fighting fish, or if a more relaxing pace is what you are looking for you can cruise or sail Charlotte Harbor which is one of Florida’s largest protected harbors. Experience more of a natural setting as you pack a lunch and cruise up the Peace River where you can see exotic birds or spot a few alligators sunning themselves on the river banks. If the feel of tropical islands are what you are looking for, Sanibel and Captiva Island are just a few of the charming places you can reach by car or boat. With sandy beaches and plenty of water sports, these areas are a throw back to the days when “life’s simple pleasures” were more the norm than the exception to the rule.
If golf is your game, there are plenty of courses to choose from the public course at Deep Creek to the four star rated Riverwood. All of the courses in the area, and there are many to choose from, offer something uniquely different depending on your skill and interest. Stick around during the off season and you can enjoy the benefits of the summer card that enables you to play most of the areas best courses at greatly reduced greens fees.
Looking for a little excitement? You don’t have to live in Orlando to treat your family to a fun-filled day at Disney World, Universal Studios, SeaWorld or Epcot theme parks located only 2 ½ hours away. Want something a little closer? Busch Gardens, another favorite fun park is located in Tampa just an hour and a half north.
With a unique historic downtown waterfront area being redeveloped, Punta Gorda is again poised for tremendous growth. Boutique hotels, shops, restaurants, condos and marinas are planned for development, as is a new convention center that over looks Charlotte Harbor and the Peace River. This facility will hold approximately 3000 people, and will host many great venues from private parties and weddings to business meetings and corporate events as well as a host of headline acts and concerts from well known entertainers.
If you are looking for a change in lifestyle, there are few places that can offer the variety of options for you to choose from whether your desire is to live on the water or out in the country on ranch estates. Compared to Sarasota, Naples or Miami and the rest of Florida’s east coast, Punta Gorda and the Port Charlotte area is very affordable by comparison.
After living and working in New York, I can not think of a better place to live, work and play than Punta Gorda, Port Charlotte and surrounding gulf coast area. Sometimes it just takes getting away to realize this area is the best place to call home.
April 14th, 2006
Most people today are unaware that there is an inventory of over 5000 houses currently on the market in our county alone; 300 in PGI. With a market that changed as unexpectedly as this one has, most people have been left wondering where the buyers are. There are buyers in the market but today’s person who is looking to purchase a property is very different from those we have seen in the past couple of years.
In Thursday’s Herald Tribune, it is clearly shown that over 40% of the buyers that were in the market the past few years were investors or better put, speculators. They are no longer in the market as prices have gone to levels that don’t allow them to achieve the profit margins they are looking for when they buy and resell. The buyers we are seeing are much more deliberate and emotional in their approach and by that I mean that since they are looking for themselves they are letting their personal feelings and desires dictate their buying posture.
Before we were seeing “tons” of showings as investors were looking at anything and everything that could possibly turn a profit however, the buyer of today is being very specific. If they want a home on sailboat water with a western exposure and a 3 car garage, don’t expect them to be looking in the power boat section that only has a two car garage. Since there are so many homes on the market, most realtors are tightly focusing on those properties that closely fit the customer’s criteria and may overlook homes that are close but not an exact match. That has led, in my opinion, to more “order filling” than creative thinking.
If I find a home that is not an exact match but has elements that I think may be of more interest than what my buyer has initially indicated, I’m showing them the home. With this market you have to be creative in all areas of real estate (listing, showing and marketing). So if our market now consists of fewer but more particular buyers, how are we generating interest in your home?
Despite all the negative press that has been printed about housing bubbles, increased insurance and tax rates and of course the dreaded hurricane season soon approaching, there is one thing that has not changed; our affordability compared to other markets. When compared to a Miami, Naples and Sarasota, you cannot touch anything close to what we have to offer. The only things lacking are the cultural amenities those areas offer however, with the planned growth for our area, it is only a matter of time when we will offer many of the same venues.
In our opinion, focusing all our advertising and marketing dollars to the local market is a mistake since it is both limiting in return and outside exposure. We are advertising on the real estate channel in the Naples, Bonita Springs and Marco Island markets and are publishing blogs and soon to be featured articles in the Charlotte Sun and on the internet. The purpose of publishing is the increased traffic it gives to our website that will bring buyers to our featured listings page and MLS access where your home is listed. In addition, we have sent out marketing pieces to those states from where we are seeing the greatest number of newcomers moving into our area. These areas are Ohio, Indiana, Michigan, New England, New York (and Tri-State area) and Mid Atlantic states. However, that is only what we are doing on a national basis.
Since our current real estate market is a national phenomena and not a localized one, we have targeted buyers in countries whose currency is favorable to ours. This is a very extensive task as we are in the midst of contacting almost 230 broker/Realtors in Europe and additional offices in Central and South America. To make this more appealing to them, we have not only offered a generous referral fee but an exchange of links to our website. With a client base as well as investor contacts, our hope is to bring more specific focus to our market and ultimately to your home.
As you can see, we are making an extensive effort on your behalf locally, nationally and internationally and that does not take into account our targeting of the major search engines and the advertising that is ongoing on Google and Realtor.com. We will continue to update you on the latest market conditions and our pursuits in bringing a qualified buyer to your home.
April 4th, 2006
For the first time in the history of Charlotte County, all five of the nation’s largest residential homebuilders Pulte, D.R. Horton, Lennar/US Homes, Centex and KB Homes are breaking ground with their newly planned communities. Located in close proximity to upcoming new shopping centers and retail stores, all are within quick access of major highways. However, this was not the only exciting news that came out of the March 9, 2006 meeting sponsored by Charlotte State Bank that highlighted the vast residential and commercial projects currently underway as well those planned for the near future.
To the north just over the county line is Northport, a new community located in Sarasota County that has a current population of 50,000 and is projected to grow to 100,000 by the year 2010. Centex Homes has 3-4,000 units planned with even higher projections. Pulte/DeVosta Homes is in phase 1 of 5 with 1800 homes planned in this first phase and with 12,000 projected overall. Commercial construction in this area is also booming with over 1,000,000 sq ft of commercial space coming out of the ground at the present time.
In an area west of the Myakka River referred to as “West County” which is comprised of Englewood, Rotunda, the Gulf Coves, Placida and Cape Haze, there are over 2500 new homes under construction with a retail value of $1,200,000,000 according to Lane Diedrick, President of Englewood Bank.
In the Punta Gorda and Port Charlotte area alone, there is over 2 million sq ft of commercial development now in progress. Due to the increasing demand, medical and office space is being rapidly developed as well as much needed warehouse space. Harborview Park of Commerce is one commercial area that will have 23 industrial warehouse lots and The Endeavor Bldg in the Whidden Industrial Park will have another 60,000 sq ft.
Fed/Ex is one of the newest companies coming to set up a presence in our community with a new warehouse space located on the north end of the Charlotte County Airport in the Charlotte County Park of Commerce. Opportunity exists in this 150 acre tract for you to own your own hanger and warehouse space. On the south end of the airport 368 acres is currently being developed into an industrial park.
If you’re looking to purchase space to rent here are some numbers that may be of interest to you.
Office space is renting at $20-$24 per sq ft depending on amenities and location. Retail space is approximately $16-$24 per sq ft depending on location and industrial is at $8-$10 per sq ft. In some cases you can earn “Triple Net” adding another $3 per sq ft for taxes, insurance and utilities on top of the rent.
If building is your interest, here are some figures you can expect see. Office space is running from $180-$225 per sq ft depending on interior improvements and location. Retail is harder to judge as there is not much available at the present time. Industrial is $80- $120 per sq ft and that figure includes the lot, building and parking all of which is embedded in the price.
With 78.2 million “baby boomers” in the United States alone and 7,918 turning 60 years of age every day, there are lots of opportunities for those looking to meet the demands of this aging population. Keep in mind; this is a group that is looking to keep active both physically and mentally.
To meet this demand, the large scale home builders realize they have to make homes more affordable and to accomplish this, they are “value engineering” that includes increased density, a more streamlined selection of optional features and in some cases reducing the floor plans by as much as 17%. However, this is just one part of our unique market as there are many estate homes that are being built that exceed five and six thousand sq ft and have almost every amenity imaginable.
Next week we will give you an inside look at Babcock Ranch, a proposed city of 40,000 people in our area that will have natural hiking trails, a golf course, lake front homes and shopping. Another development is Murdock Village that will create a new downtown village for Port Charlotte and will literally be a self contained community within a community.
With all of this exciting new growth, don’t you want to be a part of it? For additional information or to contact us, visit http://www.flwaterfrontliving.com