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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
FEBRUARY
2012 |
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Hello!
Punta Gorda made the news again and was voted by CNN/Money as one of the top ten turnaround towns in the country. You can read the article here. Keep in mind the prices quoted in the article are median prices, so realistic expectations are a must!
If I can help you with your real estate needs or you want to get an idea of what is on the market-I would be happy to send you some listings! Please don't hesitate to give me a call! Lise |
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December-January 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 $
December 245 209 $133,834 36 $110,817
January 271 225 $149,020 46 $98,275
The total number of units sold increased from December to January, as well as the number of homes and condos. The price of homes also rose in January from December , while the average price of condos deceased. Four homes sold in January over $500,000 ,while 6 homes sold in the $400,000 to $500,000 range. |
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REMINDER!
HOMESTEAD EXEMPTION
March 1st is the deadline to file for the Homestead exemption for your property. If you are a full-time Florida resident and purchased property last year and have not signed up for this, you should do so prior to the deadline date. Click here to find out all about it! Time is of the essence!
FLORIDA INT'L AIR SHOW
Don't forget the Air Show in Punta Gorda, the weekend of March 24-25. The
Blue Angels will be there, as well as other demonstrations! Tickets are discounted if purchased in February! For more information follow this
link. |
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3.8% Tax in Health Care Bill
You've probably heard all sorts of things about the new 3.8% tax that will take effect in 2013, as part of the Health Care Bill. There seems to be some confusion as to what kind of tax to call it, but it is a tax nevertheless. The National Assn. of Realtors has put out some guidelines, trying to explain it.
If you are like me, when it comes to tax guidelines, the reading gets pretty boring. But knowledge is power, so if you are interested go to this link , where the NAR attempts to decipher this tax which is coming in 2013. |
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More Local News
* CHENEY BROTHERS
The Cheney Brothers move to Charlotte County is now official-they closed on
the parcel of land on Feb. 14, where they will be building a 250,000 sq. ft. distribution center. They started business in 1925 selling milk and eggs and they now sell over 15,000 items throughout the world. In the next several years 300-600 jobs are expected to be added in the county.
*JONES LOOP PROPERTY
The City is currently in talks to annex the property that was originally slated for a shopping mall, near Jones Loop. If the annexation is successful, this would possibly open the door for the development of a "town center" similar to Gulf Coast Town Center in Ft. Myers...so stay tuned!
*CELTIC RAY
Punta Gorda's Irish Pub, the Celtic Ray, has been expanded and remodeled .
It now features an atrium, 2 more bars, a stage and 14 European beers on tap! So if you are in the mood for traditional Irish fare, try them out!
*THE ' OLD' BEST WESTERN HOTEL
The former Best Western Hotel is now temporarily know as the PG Waterfront Hotel and Suites. Beginning in April, it will be undergoing a total renovation as well as a rebranding- eventually becoming either a Comfort Inn or Holiday Inn. The goal is to make the hotel have more of a resort atmosphere with added water sports and banquet and meeting facilities. All of the 188 rooms will be renovated with some of the rooms being converted to suites. The current name is temporary until the new brand name is decided. |
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Cash for Short Sales
According to CNN-MONEY, some banks are offering sellers a cash bonus-up to $35,000 in some cases, to do a short sale in order to avoid the costly process of foreclosure. The first offer is usually loan modification, but if this is not an alternative, the banks see a short sale as an opportunity to move the inventory, avoid foreclosure consequences on the Seller's credit and get the homes off the books.
Many times a home in foreclosure is totally trashed by angry Sellers .Taxes and maintenance aren't kept up so the homes lose even more value. Foreclosed homes, nationwide, sold for 22% less than market value in December and short sales sold for 14% less than non-distressed sales.
How the bank will handle non-payment of a mortgage varies widely depending on the lender-this is not a hard and fast rule so make sure you know all the facts before defaulting on a mortgage. |
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Consumer Confidence Increases
The University of Fl. stated that consumer confidence rose to 77 points in January, from the December score of 70. Confidence across the country also was up from December. Inflation remained quite low except for the increase in gas prices.
The biggest threat currently is instability in Europe, as it would affect Floridian tourism. Ironically, some Europeans are looking for purchases in the U.S., in order to get their money out of Europe. |
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Freddie Mac-No Deficiency Judgements
Freddie Mac, the secondary market mortgage company, has announced to servicers of Freddie Mac loans, that they aren't to pursue a deficiency judgement against a borrower after a short sale or deed in lieu of foreclosure, as long as it was processed according to Freddie Mac guidelines.
In a deficiency judgement, a lender goes after a borrower to collect the amount of loan that was "shorted" even after the short sale has closed. State laws vary, so call 1-800-FREDDIE or read more about the Feb. 15th bulletin
here. |
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