March-April 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 $
March 378 302 $139,018 76 $103,030
April 376 306 $175,760 70 $114,216
The number of homes and condos sold in April remained steady but what really stands out is that the average price sold increased quite a bit. Looking at the statistics there were alot more higher priced homes sold in April than in March. There were 6 homes sold over the $500,000 price point vs. 2 in March . In April there were 14 homes sold in the $400-$500,000 range compared to 10 in this price range in March. There were increases in the $200,000-$400,000 ranges as well. |
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Time to Buy?
If you are thinking of buying property, now may be the time-rates are at historical lows and mortgage delinquencies are beginning to drop. Doug Lebda, CEO of Lending Tree, predicts 30 year mortgage rates to rise to 4.5%
by the end of the year.
The housing recovery is expected to be driven by demand for rental properties-which should help clear the oversupply of existing homes for sale.
Home ownership is still a desired goal with 80% of Americans agreeing it is the best long term investment. |
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National Home Appreciation/Depreciation
Florida came in 5th place for March figures in home appreciation for the February- March time frame. Nationwide, the average increase for this time frame was .6%. Check the list below for the states with the highest and lowest rates of appreciation throughtout the country.
High Appreciation Low Appreciation
Wyoming +5.9% Delaware -10.6%
West Virginia +5.3% Illinois -8.3%
Arizona +5.1% Alabama -8%
North Dakota +4.7 Georgia -7.3%
Florida +4.5% Nevada -5.8%
The housing market recovery will be uneven-with factors such as unemployment and foreclosures affecting the recovery.
*Source Realtor Daily News |
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Property Insurance
If you are a customer with Citizens Insurance, the state-run company, it may be time to look for another insurance carrier. Citizen's is preparing to raise rates and they will no longer be covering screened-in pool enclosures.
There are currently about 400 private companies offering insurance in Florida and they may not only have better rates but also better service and coverage. I shop for insurance rates every year and usually save money in the process. If you need some names of local companies please contact me! |
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3.8% Tax
There is continued confusion over the 3.8% tax that will take effect in 2012 if the proposed Health Care Bill passes. It basically is a tax on profits not a sales tax and it includes capital gains. Individuals who have incomes greater than $250,000 , those who make a profit of more than $250,000 and only on the portions greater than $250,000- will be taxed.
If you wish to do further research the information can be found on page 965 Chapter 2A Section 1411, Unearned Income Medicare Contribution , of The Affordable Care Act. |
