January 29th, 2010
The new season has finally kicked off as we are seeing more buyers entering the market. While the start of the season started off a little more gradually than anticipated, there has been a significant increase in sales over last year.
Generally speaking, despite economic conditions that still impact the country as well as our area, a recent CNN article indicated that the general population seems to be more conditioned to our current economic climate. Becky Bovell who is the head of Tourism for Charlotte County, also confirmed the slower start to the season, but did indicate there has been a gradual uptick with the peak season between President’s Day and Easter.
The summer season which has historically been the slowest time of the year for real estate sales, saw more activity which led to a cautious optimism by most Realtors, and it seems to be paying off.
Deep Creek, which is a development just north of the Peace River and located east of I-75 has had 50 homes go into contract and 15 close within the last 30 days. Selling prices have been between $70,000-290,000.00, which shows a diversity within this deed restricted community. While average sale prices have declined from the high in June of 2007 of just over $275,000 to a current average of just over $125,000, sales have been robust.
The boating communities of Punta Gorda Isles and the sister community of Burnt Store Isles have also seen an increase with 39 homes going under contract and 10 closing with an average selling price of $225,000.
With buyers being more deliberate in their research for the best possible buying opportunities, this is encouraging news that the worst economic news may be behind us and that opportunities abound for those looking for a better quality of life, and an escape from the volatility of the stock market.
January 11th, 2010
What a difference a year can make as last year at this time we were entrenched with the possibility our economy was crashing, banks were getting TARP monies and major automakers such as GM were on the verge of bankruptcy.
While there are still dark clouds on the horizon, there is a cautious optimism in the air as we are starting to see signs of stabilization and a stronger consumer confidence.
Some feel there are many foreclosures still ready to hit the market and others feel a major correction is forthcoming in the stock market due to the “false” levels created by the infusion of government bailout money.
However, optimists point out the economies of countries such as China, Germany and India are flourishing and that the world economy is in fact improving; encouraging news for the possibility of potential European real estate investors.
Generally speaking, we are seeing a return of buyers to the market earlier this year which bodes well when compared to home sales for 2009. But don’t let the uptick in buyers entering the market lead you to think sales will be brisk. Today’s buyer is much more deliberate in their search and only makes a commitment when they are assured they have found a “great deal” however, armed with a more positive forecast for 2010 and continuing development of the Punta Gorda/Port Charlotte area, they realize there may never be a better time to buy.
Aside from the possibility the economy may in fact be stabilizing, on September 9, 2009 Port Charlotte, Florida was recognized as the number one place to retire to in the nation by CNNMoney.com, and the Punta Gorda area alone has seen a tremendous revitalization since Hurricane Charley that was highlighted by the five year anniversary celebration Xtreme Makeover, (noting all the commercial developments and improvements that have transformed this waterfront city during five short years).
While Charlotte County stills ranks as one of the oldest per capita counties in the nation, new developments definitely have a younger generation in mind. Wine Cafes and Bistros such as Bin 82 have replaced the old Acme Bicycle Shop. Rooftop bars with lounge and pool areas are found at the 63 room boutique hotel called the Wyvern. The Laishley Crabhouse is the most recent addition to the 83 slip Laishley Marina and Park facilities, where an interactive water fountain and band shell highlight the park designed for family fun and entertainment. River walks to Gilchrist Park and Fisherman’s Village are in the finishing stages and The Sunloft Center features curbside dining at Jack’s and retail, office and condominiums with panoramic city vistas from above. For those looking for the fare of an authentic British Pub, it gets no better than the Ice House and a quick game of darts.
Changes are ongoing with new services such as trolleys and riverboat eco tours providing an opportunity to enjoy the historic district’s charming waterfront amenities.
Enjoy the third Thursday of every month called “Gallery Walk” where store owners stay open with sidewalk entertainment.. And don’t forget about the Farmer’s Market each Saturday morning.
Look for our upcoming articles where we highlight the accomplishments of the Charlotte County School System that has attained one of the highest rankings in the state for student performance as well as the upcoming development of Babcock Ranch and its partnership with FP&L to create a solar city of the future.
Looking for a unique place to call home, you may want to consider Punta Gorda, Port Charlotte and the surrounding area, you won’t be disappointed.