November-December Statistics
Punta Gorda-Pt. Charlotte
Below are numbers sold each month, and prices are average. Total Units Homes Home Avg $ Condos Condo Avg $
November 183 158 $158,450 25 $103,000
December 271 225 $125,990 46 $101,328
The total number of homes sold increased considerably from November to December.However,the average prices also dropped slightly. In November there were 4 homes that sold over the $500,000 mark, while in December there were 5 homes sold over $500,000.
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If you are able to pay down a substantial sum of your loan's principle, it is always smart to ask the bank if you can "recast" or "re-amortize" your loan. By doing this, the principle is reduced and your mortgage payments as well as the interest ,would be reduced over the life of the loan. The mortgage
payment is "recast", however the original interest rate and terms remain the same. There should be no closing costs or credit checks to do this as the loan itself is not changing. |
More News
CONSUMER CONFIDENCE
According to the University of Florida, consumer confidence in January rose to a score of 77 from December's number of 70.
PUNTA GORDA INFO
Punta Gorda has the 3rd lowest tax rate out of 12 cities in Southwest Fl. It has the 2nd lowest index crime rate in the state of cities with populations between 15,000-20,000 in population. The property tax bill in the City is lower than unincorporated Charlotte County- which is very unusual.
MURDOCK VILLAGE LAND DEAL
With pros and cons being bandied about regarding the proposed land swap in Murdock Village the initial vote to begin the approval process was delayed again until Feb 15. Southwest Land developers said that they should have some word about the proposed water park status coming to Pt.Charlotte, by next week. Commissioners fear that the delay may scare off potential investors. Stay tuned! |
Vision Airlines
Beginning March 25, Vision Airlines will be operating out of Punta Gorda with a non-stop to Destin, Fl. Flights will operate Mondays and Fridays and tickets will cost $89 each way.
Vision Airlines is a regional carrier that is hoping to expand the Gulf Coast market-especially in Florida. Their website is: www.visionairlines.com.
During the last week of December it was estimated that 10,000 people flew through the Punta Gorda airport-a record number. Direct Air offers service to 9 cities and Allegiant Airlines flies to 5 cities from Punta Gorda. Direct Air has started using larger planes to our area, and has been flying at 90% capacity. |
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Mortgage Defaults
If you have let your home go to foreclosure in Florida, banks can go to court for a "deficiency judgement" to collect the rest of the money owed, according to Anthony di Marco of the Florida Bankers Association. Banks can also go after other assets with a judgement such as cars and boats . In addition judgements can be sold to collection agencies who have up to 20 years to collect.
There are 11 items under Florida law that cannot be garnished for a deficiency judgement-so be informed of your rights . Collecting on judgements is expensive and usually banks won't go after other assets if there isn't that much value in them. Lenders are currently going after people with multi-million dollar assets or businesses.
If you find yourself in financial difficulties it is always better to work with the bank and try to do a short sale. Make sure all agreements are in writing. |
