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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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Hello!
More good news in the press about Punta Gorda! According to Portfolio.com, it was rated in the top 10 places to retire. To view the article, click here.
On a personal note, my first grandchild was welcomed into the world on December 22! I  t was a very exciting event and I think she is pretty special!
If I can help you with your real estate needs or answer any questions, please don't hesitate to give me a call! Lise |
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November-December Statistics
Punta Gorda-Pt. Charlotte
Below are numbers of homes/condos sold each month, and prices are average. Total Units Homes Home Avg $ Condos Condo Avg $
November 221 184 $151,438 37 $86,238
December 245 209 $133,834 36 $110,817
The total number of units sold increased from November to December, while the number of sold condos remained steady. The average price of homes dropped slightly in December while the average price of condos increased . The market was quite brisk in spite of the fact that there were major national holidays in both months. In November, two homes sold over $500,000, while there were three homes sold over $500,000 in December. |
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Insurance Tips
According to the Insurance Information Institute,the top mistakes that consumers make are:
1. Insuring the home for its real estate value(sales price) instead of the cost of rebuilding. If disaster does strike you will have enough coverage to build a new home as well as replace the contents. Remember hazard insurance usually covers replacement value, whereas flood insurance uses a depreciation method in assessing value. If your furniture is more than 10 years old, it won't be considered to be worth very much.
2. Selecting a company by price alone. Make sure your insurance company is financially stable by checking independent rating agencies. Ask for recommendations to make sure the company has good customer service.
3. Dropping flood insurance. Damage from flooding is not covered under homeowners or renters policies. If you have a home in a flood zone, check with the National Flood Insurance Program. About 25% of all floods occur in low risk areas. |
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More News
* PUNTA GORDA AIRPORT
The airport in Punta Gorda is planning to expand the size of the air terminal within the next year, to handle the increase in air traffic. Over 291,000 passengers came through the terminal in 2011-a 4% increase over 2010 figures. With a larger facility it is expected that more airlines will follow. Currently, the airport is served By Direct Air and Allegiant Air.
*MOTE MARINE
Mote Marine Laboratory is working with a local developer as well as Team Punta Gorda, to discuss the possibility of a Mote Aquarium in downtown Punta Gorda. Mote has a 16 acre complex in Sarasota, as well as numerous research stations. An aquarium would feature 60,000 sq. ft. of exhibition space as well as education and research facilities. A feasibility study would have to be completed to see if this would be a successful venture.
*CHENEY BROTHERS
Although the new Cheney Bros. distribution center won't be starting construction until the fall, the food distribution company is already providing food to local restaurants as well as the Charlotte County jail. New contracts initially go through a "bid" system.
There is a lot of local support for the company in both Charlotte and DeSoto counties, especially as their relocation to Punta Gorda will create many new jobs in the area. |
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FHA Changes Seller Help
On January 23, the FHA announced that a new rule will be proposed, reducing the "maximum allowable seller concessions" in an FHA loan process.
Currently sellers are allowed to contribute 6% toward the buyer's closing costs, prepaid expenses, points and other concessions. The new rule although not published, will be open for comments before it becomes effective. The bottom line here is that it means a seller will have to come up with more cash in order to close, which may put yet another crimp in a housing recovery.
Apparently the Fed feels that the 6% contribution inflates appraisal
numbers. This is interesting, as all property values have been dragged down by the short sale and bank foreclosure numbers that are allowed to be used in appraisals. |
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HUD Homes
HUD will sell homes it owns for only $100 downpayment, providing buyers plan to live in the home full-time, pay full price and take out an FHA loan with "standard underwriting rules". That means credit checks! Usually FHA loans require a 3.5% downpayment. FHA 203k loans allow a buyer to borrow more than list price if the home needs repairs-and use the money to fix it up.
HUD usually covers up to 3% of the closing costs. Keep in mind there are quite a few foreclosures available but not many are HUD foreclosures. The process is done by bidding online-by a licensed realtor. If you win the bid then you only have about 48 hours to get your deposit money to them. The majority of these properties are usually in rough shape and are sold in "as-is" condition . |
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