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
 
January
2013
 
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Hello! 

We're off to a good start with balmy weather and lots of visitors to our area. The inventory has been getting lower and properties are selling. The City of Punta has a resource profile that is very informative if you are new to the area. You can also send it easily to friends so they can read all about our town! To access the publication click here.
  
  
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

 
November-December 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 $
                             
November    243                190              $178,071              53             $106,433
 
December    259                196              $177,797              63              $120,234   
         
The number of total sold homes and condos  moved higher in December-the prices for homes remained steady while the condo prices moved higher. There were 5 homes that sold over the $500,000 range in both November and December.
  
  
2011 Vs 2012 Total Sales in Charlotte County
  
         Total Units         Homes        Home Avg $     Condos          Condo Avg  
2011         3390                 2821             $133,449           569              $104,736
2012         3562                2926              $156,307           636              $111,664

These statisticss show the average price between 2011 and 2012, as well as the increase in unit sales. The increase for homes sold over $500,000 also was interesting as the number more than doubled with 31 sold in 2011 and 64 sold in 2012.
  
  


Mortgage Rules  

 

The Consumer Financial Protection Bureau just came out with new mortgage guidelines which will take effect in a year. Their goal is to protect comsumers from their lack of financial knowledge while also protecting them from unscrupulous lenders.

  

Here are the eight factors bankers will use to determine a person's ability to repay the loan:

  

1-Current monthly income                        5-Debt-like alimony

2-Monthly payments                          6- Child support

3-Loan obligations                                       7-Debt to income ratio

4-Mortgage obligations                              8-Credit history 

 

 

If your financial information satifies a lender in all of these areas than you will be able to get a "qualified" mortgage. This type of mrtgage will not have interest only payments,can be no longer than a 30-year term,  and will not have a negative amortization on it. The monthly payment can't be more than 43% of the borrower's monthly income, nor can a qualified mortgage have points or fees exceeding more than 3% of the loan amount.

 

Courtesy of Miami Herald-Martha Brannigan


Punta Gorda On Improved Market List

 

The National Association of Home Builders created an improving market list

where the real estate market is improving in spite of strict mortgage guidelines.

 

Punta Gorda was on the list for January as well as Cape Coral, Deltona,Jacksonville, Lakeland,miami,Naples, Ocala, Orlando, Palm Bay, Panama City, Pensacola and Tallahassee.

 

    Check out my Website!     
                     
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Local News... 

 

Ring Around the City
 
The completion of another link of the Ring Around the City-a walkway planned around the City, was completed this month. It runs along W. Olympia and Shreve St. and connects to the History Park.  Landscapers have also been busy at the intersection of Bal Harbor and Aqui Esta.That area
looks so much better and a face-lift was well-needed- great job!
 
Gilcrest Park
 
Work has started on the dredging of the River  right off of Gilcrest Park in preparation for floating docks. A gangway has been delivered and the docks will soon be installed.

Banks-with Attitude

 

According to the Wall Street Journal, the tighter credit standards and guidelines make for getting a mortgage a daunting task. Even though rates are low,banks are checking every detail in the mortgage process to make sure a person won't default on their loan. In addition, the banks are so busy with refinancing that new loans don't seem to be a top priority. New Fed rules are forcing banks to keep higher reserves and larger banks are buying fewer mortgages from smaller banks.