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What's New in Punta Gorda? |
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Call Lise Johnson
800-788-1203-O
941-637-6116-O
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Five Star Realty
Your Hometown Realtor
NOVEMBER
2011
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Hello!
As Thanksgiving nears,  I personally have alot to be thankful for. However, I want to take this opportunity to thank all of my friends, past, present and future , who have helped me in my real estate business throughout the years. You are appreciated!
I hope you have a Happy and Healthy Thanksgiving! Lise |
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September-October Statistics
Punta Gorda-Pt. Charlotte
Below are numbers sold each month, and prices are average. Total Units Homes Home Avg $ Condos Condo Avg $
September 223 184 $124,426 39 $81,024
October 244 210 $115,999 34 $87,983
The total number of units sold increased from September, while the average price for homes decreased slightly. Conversely fewer condos sold, but the average condo price increased. In October , one home sold over $500,000, while there were four homes that sold from $400,000-$499,000. Cash sales
outnumbered financed sales by almost 4-to-1. |
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Cheney Bros. Comes To Charlotte!
Charlotte County commissioners approved an incentive package for Cheney Bros. to build a 300,000 sq. ft. food distribution center near the Punta Gorda airport. Cheney Bros. is one of the nation's largest food distributors and is a huge economic development success for the county as it will create approximately 600 jobs. The company, which has an annual revenue of more than $800 million, also has locations in Ocala and Riviera Beach, Fl. The county incentives feature a $1.2 million tax break over the next 10 years as well as a $480,000 payment towards utilities-a fair trade for a business enterprise that is expected to bring 5.8 million to the economy. |
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Local News
* BIKE LOANER PROGRAM
Punta Gorda has a free bike loaner program and just added another site in the city at the Wyvern Hotel. Other locations include Fishermen's Village, Four Points Sheraton, Charlotte Regional-Wellness Center, Laishley Marina and the Isles Yacht Club. The bikes are bright yellow and all that is needed to rent them is an ID and a credit card for a deposit- to make sure they are returned! Just contact the "host" location and they will provide a lock and a key. Helmets are mandatory .
*MORE GOOD ECONOMIC NEWS
Arcadia Aerospace, a company that makes carbon composite materials for airplane parts ,was recently purchased by X-Ray Industries-a company out of Michigan. X-Ray industries is expected to invest approximately $1.5 million into expanding the current facility, which will in turn create more jobs.
The company currently tests engine covers for Boeing 747's and will now be testing the new Boeing Dreamliner and Honda Jet planes. The testing equipment is made in Punta Gorda and since the airline industry has been shipping parts here, it is hoped that Punta Gorda will be come a hub for the composite-testing business.
*CHRISTMAS EVENTS ARE FAST APPROACHING!
On Dec 2, the downtown 32 ft. Christmas tree at the corner of Marion and Taylor, will be lit between 5:30 and 6:30 pm. In addition at 7 pm, the Downtown Merchants Association will be lighting a tree at Hector House Plaza and offering free hotdogs and a beverage to the first 500 people.
The Punta Gorda Garden Club will also be having their annual house walk in the historical section of Punta Gorda on Dec. 2nd and 3rd. Admission is $10 and there will be four houses on the tour.. |
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FHA Condo Guidelines
Stricter FHA guidelines are making it difficult to get an FHA backed mortgage for a condo. Approximately 2100 condo projects nationwide were re-approved this year while 25,000 certifications expired on Set. 30-according to HUD. Failures were for a number of reasons-legal disputes, insurance coverage, investor involvement and reserve fund requirements.
For FHA financing, guidelines require that condo projects cannot have more than 15% of the units that are 30 days in arrears for monthly fee payments, no assessments or outstanding loans for improvements. FHA rules changed in 2009 and every 2 years each condo project has to be re-certified. New projects have to have 20% of the units sold before FHA will offer mortgages on the condo complex.
In spite of these changes, mortgages on condos are still available -they just require a higher down payment by lenders, other than FHA. |
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NAR Economy Prediction
Lawrence Yun, the chief economist for the National Assn. of Realtors predicts a gradual improvement in the housing a market next year. He also predicts interest rates will rise to 4.5%. Low consumer confidence and a difficult lending environment have held the market back- however there is a pent-up demand for housing as well as population growth that can't put the housing market on hold forever. |
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