What's New in Punta Gorda?

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800-788-1203-O 
941-637-6116-O
941-457-1041-Cell
 
Lise Johnson
       

Five Star
Realty
 
Your Hometown Realtor
 
NOVEMBER
2012
 
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Hello! 

Hope you all had a wonderful Thanksgiving! It is hard to believe the Holiday season is upon us!
There are some interesting predictions for real estate in the newletter this time-see below!

On a personal note, looks like my first grandchild Stella, who will be 1 year old in December- will have a sister in April!

If I can assist you with your real estate needs or you want to get an idea of what is on the market-please contact me!

Lise

 
September-October Statistics

Punta Gorda-Pt. Charlotte 
 
Below are numbers  of homes/condos sold each month for the Punta Gorda and Port Charlotte area-prices are average. 

                     Total Units    Homes        Home Avg $       Condos      Condo  Avg $
                             
September    201               201                $150,455             41                 $84,887
 
October         267               231                 $147,084             36                 $93,136   
         
The number of total sold homes and condos jumped in October quite a bit!
The  price of homes dropped slightly while the average sold price of condos increased. In the over $500,000 price range 4 homes sold in the county versus 2 in September. There has been an increase from a year ago in units sold, and in average prices from 2011.


Market Trends Through 2014

 

Lawrence Yun, chief economist for ther National Association of Realtors, said this month that the real estate market started turning this year due to the increase in home sales and new construction.

 

Yun expects inflation to be at 4%-6% by 2015, due to the huge Federal budget deficit, quantitative easing, and Federal spending-which will push up borrowing costs. Mortgage rates are also expected to average 4% next year and 4.6% in 2014  due to inflation. Yun thinks that home prices on a national level should rise with declining inventory and increased demand approximately 6%.

 

All of these projections assume that the country will avoid the "fiscal cliff", which Yun feels would cause a recession. To learn more about the "fiscal

cliff" go here.

 

People who have recently purchased homes, or who will do so in the near future, and are taking advantage of low prices and interest rates can expect growth in home equity for the next few years as a hedge against inflation. Renters will face increasing rents and will miss out on any home price gains.


Lenders

 

According to Mortgage Dailys's latest report, the amount of mortgages in the third quarter of this year showed a 11% gain from the second quarter, nationwide. The majority of loans were done through Fannie Mae and Freddie Mac, with about 13% being FHA loans.

 

The largest lenders for the third quarter were:

 

1. Well Fargo-29.3%

2. Chase-10.0%

3. USBank- 4.5%

4. Bank of America-4.5%

5. Quicken-4.2%

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More News... 

 

Tax Amendments
 
Three tax amendments passed in Florida -with greater than 60% voter approval.
 
Amendment 2-Any US Veteran who was disabled due to combat injury will receive a property tax break- formerly it was just those Veterans from Florida who qualified. 
  
Amendment 9-A property tax break will go to spouses of  first responders
who have died in the line of duty.
 
Amendment 11-Local governments can create a new homestead exemption
for seniors 65 and older, if they have lived in the same house for 25 years or more, it is worth less than $250,000 and they are in the low income bracket.
 
Amendment 4-  Did not pass.
 
 
 
Punta Gorda Celebrates Milestone
 
December 7 will mark the 125th anniversary of the incorporation of Punta Gorda. There will be a number of events including a tree lighting ceremony downtown. In 1900, the population of Punta Gorda was 860 people and they came from 16 foreign countries and 27 states-quite a diverse sampling of different backgrounds for a small town.