| What's New in Punta Gorda? |
| Call Lise Johnson
800-788-1203-O
941-637-6116-O
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Five Star Realty
Your Hometown Realtor
March 2011
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Hello!
Looking at the statistics this month and then listening to the national news articles that are predicting doom and gloom across the country, can be very confusing as well as contradictory-which just goes to show that real estate markets are area specific. Locally, sales have been very brisk and with a combination of low interest rates and a Buyers' market many people are taking advantage of that fact! Take a look at the statistics below!
If you need any area or real estate information, please give me a call! Lise |
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January-February Statistics
Punta Gorda-Pt. Charlotte
Below are numbers sold each month, and prices are average. Total Units Homes Home Avg $ Condos Condo Avg $
January 260 225 $108,795 35 $94,497
February 306 242 $143,766 64 $94,604
The total number of homes sold increased quite a large amount in February, as did the number of sold condos. The average prices also jumped quite a bit. February is always a busy month, and the cold winter up north caused many people to escape to our warmer climate! Interest rates are projected to slowly creep upwards. Cash is still king with approx 2/3 of the properties selling for cash and the remainder being financed. Three homes over $500,000 closed in February.
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Geithner Wants Out of Housing
U.S. Treasury Secretary Tim Geithner wants the government out of the housing market. Blaming regulators for the housing debacle, Geithner wants to eliminate Fannie Mae and Freddie Mac, as they were taken under government control in 2008. Along with the FHA, these 3 institutions guarantee more than 9 out of 10 new mortgages. He does not believe every American needs to be a homeowner. |
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MURDOCK LAND SWAP
The Murdock Village land swap was finally approved this month with the commissioners voting 4-1 in favor of it. Situated just east of the Charlotte County Sports Park, and with the Charlotte County Fairgrounds close by, this will open the door to making the area a major sports and entertainment district. Now everyone will be watching the negotiations between Southwest Land Developers and a waterpark developer who has expressed interest in the area.
KAYAKS ANYONE ?
One of Charlotte County's greatest assets is Charlotte Harbor. While water sports and boating are very popular, kayaking is gaining in popularity . The shallows and lakes near the mangrove areas along the perimeter of the Harbor are perfect to experience some of our natural beauty.
Places where you can rent kayaks are: Grande Tours in Placida,941-697-8825, It's Time! Kayak and Canoe in Pt. Charlotte Beach Complex, 941-255-3686, and Florida Paddlesports on Pine Island, 239-214-8300. |
Mortgage Deduction Questioned
The Obama administration questioned the mortgage deduction again this month as the government tries to examine their involvement in Fannie Mae and Freddie Mac.
For 2012, the deduction will still be in place, however there will be some limits placed on families making over $250,000.The Obama plan is considering changing the tax deduction to a tax credit and capping mortgages at $500,000 from the current $1,000,000. Eliminations of tax benefits for 2nd home and equity loans are also under discussion . No firm decisions have been made on the issue.
Get ready for more fireworks as the government seeks to reduce the deficit.
This is going to be an emotional and financial issue that affects every homeowner with a mortgage. The majority of Americans still believe in homeownership being a good investment. |
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Canadians Favor US Property Investments
According to a study by the Bank of Montreal, one in five Canadians are now considering buying property in the US. Snowbird destinations are also highly favored.
The Canadian dollar is strong and prices are down. The US economy is seen as starting to improve and the Bank sees the value of the US dollar increasing in the future. The provinces showing the most interest are Alberta, British Columbia and Prairie Provinces. Men appeared more interested than women. |
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