South West Florida Real Estate News-North Port-Port Charlotte-Venice-Englewood-Punta Gorda

head_left_image

South West Florida-North Port Real Estate Market Report-November 2007

Can it be Christmas? The weather has been in the 80's and dry for weeks. All my windows are open since we don't even need AC or heat right now. Come on down! There's plenty of sunshine for everyone.

WATERFRONT PROPERTY

One of the defining characteristics of this area is water--- fresh water lakes, rivers and canals plus saltwater canals, intracoastal and the Gulf. Two major rivers, the Peace River and the Myakka River, flow through this area into Charlotte Harbor as do all the little canals. With prices down, we're seeing a renewed interest in all waterfront property. Sailboat access to the Gulf is possible in the $150's.

Locally, the bridge heights run about 45 ft. so sailors need to be on the Gulf side of the bridges if they have a tall mast or a deep draft. Allow three to four feet for tidal changes. If you don't see any sailboats in the area, it's probably too shallow for them. Look for the masts.

Determining factors on the value of waterfront property include the view (open water or natural preserve are prized), a dock and/or davits, the depth of the water, the number of bridges to the Gulf, and the length of time to reach open water. Some areas are such a maze of canals with no wake zones that it may take an hour to reach open water. In other areas, you can be out in five minutes.

As I often tell customers, your greatest danger in Charlotte Harbor is going aground. Many bays and inlets, which are natural breeding grounds for fish, will not be accessible with much more than a foot draft, and six inches is even better! If you are considering Gulf access property, buy a marine map of Charlotte Harbor and check the depth! 

On the canals that abound in Port Charlotte and North Port, you'll find those on the north and east side of US 41 have no Gulf access, and the value of those on the south and west side of US 41 is determined by the height of the bridges, how many bridges and the length of time to motor out to open water. There are many no wake zones in the canals and even the intracoastal. Generally, North Port's canals north of US 41 are governed by flood gates and so do not require flood insurance like other canals.

We tend to have some extremely low tides in the winter so this is the time of year to check the depth at low tide. With all the winding waterways, ask the neighbors about the depth or how long it takes to get out to open water.

Send us an email if you want to receive waterfront listings for lots or homes. We can "steer" you in the right direction!

 

WHAT WE SEE:

In spite of what the media reports, I sense a new feeling of urgency among buyers. We are very busy showing property and have two closings in the next two weeks. Buyers realize that mortgage rates and prices cannot continue to stay down forever and are beginning to jump off the fence in anticipation of an increase.

Guessing how low the prices will go is like anticipating how low a stock will drop so you can buy it at the bottom. If we all knew that, we'd make a fortune! We are finding banks are less willing to take 50 cents on the dollar for their properties.  Even though foreclosures are up, the lenders we've dealt with seem unwilling to deal.

NEW WEBSITE

We are working on a FANTASTIC new website, http://www.tropicalfloridaproperty.com/, which will debut in January.  Nearly 1000 new photos have been taken to display every local community, and all new expanded information will be available on each subdivision. You'll be hearing more about it next month.

LOCAL NEWS

While residential property is still sluggish, commercial endeavors seem to be springing up everywhere.

The new Murdock Village development for an 870-acre parcel across from Town Center Mall in Port Charlotte hopes to break ground next year to create a downtown retail center for the area.

Skybus is now running discount flights out of the remodeled airport in Punta Gorda, and a new Wal-Mart is opening shortly just off I-75 at Jones Loop exit.

The new Publix at the corner of Price and Toledo Blade opens in North Port this week. Perkins and ABC Liquor have come out of the ground  near the Home Depot in North Port., and the shopping center behind them is filling up with Wild Wings, a Chinese buffet, deli, Mattress King and more.

Look for a big Kohl's department store to open soon next to Home Depot in Port Charlotte.

I was asked by one customer what type of business is needed in North Port. A shoe store? Boutique clothing store? Craft store? If you have any suggestions, just email twomoores19@comcst.net.

 

As you can see from the stats, the $250,000 to $300,000 range is the least active.

 

For Sale

There are 1536 properties for sale in North Port, Florida in the MLS. (Port Charlotte has over 2000 listings including Deep Creek.) The number of available properties has increased by 7 properties from last month. 488 of the active listings are brand new, 2006-2007. This number has decreased by 7 properties since last month.

Pending

In the past 30 days November 1-30, 35 properties went pending. 6 of the pending listings are brand new, built in 2006-2007. 11 fewer properties went pending this month than last month.

Looking at the pending properties, 21 have a listing price of $150,000 or less.

8 of the pending properties have a listing price of between $150,001-$200,000.

1 of the pending properties have a listing price of between $200,001-$225,000.

0 of the pending properties have a listing price of between $225,001-$250,000.

1 of the pending properties have a listing price of between $250,001-$275,000.

1 of the pending properties have a listing price of between $275,001-$300,000.

3 properties have a listing price of $300,001 or more.

Sold

Using the same time frame, 50 properties closed. 14 more properties sold this month than last month.  14 of the sold listings were brand new, built in 2006-2007. The number of brand new listings sold this month has increased by 3. Last month 1.2 listings sold per day, this month 1.7 listings sold per day.

Looking at the sold properties, 16 sold for $150,000 or less.

21 properties sold between $150,001-$200,000.

2 properties sold between $200,001-$225,000.

5 properties sold between $225,001-$250,000.

2 properties sold between $250,001-$275,000.

0 properties sold between $275,001-$300,000.

5 properties sold for $300,001 or more. 

Visit our new site TropicalFloridaProperty.com - coming in January 2008! 

You can reach Roxanne Moore at, 941-626-3926 or twomoores42@comcast.net ,or Shannon at 941-276-8142 or twomoores19@comcast.net   

Looking for property in North Port, Port Charlotte, Punta Gorda, Englewood and the surrounding areas, visit any of our websites at http://www.twomoores.com/  

http://www.twomoores.net/

http://www.northportfloridaproperty.com/

http://www.comeseeswflorida.com/

http://northportareahomevalue.com/

http://searchnorthportmls.com/

http://www.prudentialfloridawci.com/

Comment balloon 0 commentsShannon Moore • December 23 2007 06:56PM

Comments

Participate