In a separate study by market researcher, Core Logic, home prices from February to March 2012 were analyzed. This study yielded a 0.6 percent increase in the average US home price. This was the first month-over-month increase since July 2011. The two biggest factors in this upward trend include good affordability and the declining number of inventories.

Furthermore, a shift in economic conditions has certainly played a critical role in the housing market. “The Fiserv forecast, done with Moody’s Analytics, assumes steady economic growth with no major shocks. Markets hardest hit by foreclosures will show the biggest five-year increases in home appreciation” (Florida Realtors).

While this is certainly great news for the overall economy and will drastically improve housing conditions in the United States, what does it mean for the Sunshine State? According to Realtor.com, “Florida has more cities than any other state that show the strongest signs of a housing recovery.” Local markets will remain dependent on the economy and how fast lenders can dispose of distressed properties.

Locally, the first quarter of 2012 produced great results for the sale price of homes in Charlotte and Sarasota Counties. The Suncoasteam report, which includes single-family homes with 3 bedrooms, 2 bathrooms, 2 car garage, and a pool, returned results that are very encouraging for home buyers. From January 2012 to March of 2012, average home prices for these types of homes in Charlotte and Sarasota Counties went from $183,848 to $221,661. Concurrently, the number of these homes sold rose from 1,020 to 1,517. Please click here to conduct your own sold report for a particular area.

The improving economic conditions, a decreasing inventory of homes, and rising home prices are positive indicators of the housing market recovery. With a predicted 4% growth year-over-year for the next five years, the dark days of low, 33% declines in home prices seem to be behind us. Though investors are expected to build the momentum for rising home prices, the average consumer looking to buy for the first time or trade-up, will be responsible for helping the surge continue. For prospective buyers who have been on the fence for so long, the days of lying in wait may soon be coming to an end. How much longer will the great deals that are out there now remain available? If this forecast holds true, it won’t be much longer.

If you have interest in property on Florida’s Gulf Coast, please click here, Southwest Florida Real Estate For Sale. For more information on a specific property, please contact Jim Mulligan, Suncoasteam Realty at 941-235-7474 orjim@suncoasteam.com.

If you have been looking for a community that has a whole lot to offer look no further than Riverwood! 3322 Grand Vista Court in Port Charlotte, is a 3 bedroom, 2 bath, 1 car garage unit located in the superb security guarded, gated community section known as Grand Vista at Riverwood. Sit on the lanai that over looks a beautiful lake and you will soon know what it means to live in comfort. Riverwood’s amenities include 4-1/2 star golf course, tennis, community pool, plus second pool for Grand Vista residents only. There is also a recreation center complete with a fitness room. Carpeted bedrooms, tiled kitchen and baths, and hardwood floors in living/ dining areas. A short drive to the white sand that awaits you on the areas beaches. Close to shopping, restaurants and Charlotte Sports Park home of the Tampa Bay Rays spring training.

Only $165,000!

For more information or to schedule a viewing, contact Ted McDermott at Suncoasteam Realty, 941-979-6428 or email to  ted@suncoasteam.com.

Click here to view more details about this property.

COMMENTS FROM PEOPLE WHO RENTED THIS CONDO AND SIGNED THE GUEST BOOK

March, 2012
“What a wonderful two months we have had here in your lovely condo. We didn’t lack for anything and immediately felt ‘at home’ upon arrival.
Riverwood is such a special place, we have met so many friendly people and made many new friends that we’ll stay in touch with now.
The golfing…bridge groups…riding bikes, walking, watching the wild life in the pond will all give us great memories to recall.
We love the location of the condo and many times felt we had our own private pool.
…It has been hard to believe it was winter.”
K & G, Nova Scotia
*
January, 2011
“…My hopes of ‘getting away’ for a while and enjoying Florida in the winter were fulfilled.
This was one of the best vacations we’ve ever had. Everything was so comfortable. We love the area and meeting so many neighbors.
One of the best things that happened is finding Placida and the Fishery Restaurant…”
S & H, Suwanee, GA
*
February – March, 2010
“…Watching the wildlife was a show in itself…”
January, 2010
*
“The large dining room was handy for our Xmas dinner.”
The views and wildlife are exceptional, too!”
April, 2009
*
“Riverwood is a lovely community – beautifully manicured, safe & full of activities. Grand Vista, in particular, is special with its own pool & lanai. The people in Riverwood are second to none. Without exception, all have been so friendly & nice…”
A & H

Port Charlotte FACTS

*Data from 2010 US Census

• Population of 54,392
• Average age of resident is 50.1 years old
• Total households of 23,782
• Median household income of $41,524
• 79.5% of housing units are owner-occupied
• Average housing size (owner-occupied) of 2.27
• Average listing price (single-family home) is $176,459

Now that we have covered the “basic” information, we feel that it is our duty to provide you with an insider perspective of the area. Your Suncoasteam wants to share the best of the area’s attractions, dining, shopping, and entertainment, as well as some of the hidden gems that can be found in Port Charlotte. Known for its intricate fresh water canal system, Port Charlotte is nestled an hour south of Sarasota, Florida. Though it does not sit directly on the Gulf, a short drive can have you on pristine white beaches and splashing in the clear water of the Gulf of Mexico. However, there are still many exciting things to do and “must visit” places in this spectacular Florida city. Let’s take a look at what your Suncoasteam has deemed the “TOP 5″ (the 5 places you must visit, dine, shop, or go to for entertainment).

Port Charlotte’s “TOP 5″

• Charlotte Sports Park — The Charlotte Sports Park is the spring training facility for the 2008 American League Champion, Tampa Bay Rays.  It is also the home of the Rays single-A minor league affiliate, the Charlotte Stone Crabs. Located at 2300 El Jobean Road, this is a family friendly ball park that operates from February through September. Come in the early spring to watch the Rays prepare for another World Series run. When you get to the park for a spring training practice or game, you might even be able to get an autograph from your favorite Rays players (or the players on the visiting team). However, the fun doesn’t end once the Rays pack up and head north to St. Pete. Once spring training ends, the Stone Crabs bring fans to the ball park with their competitive, exciting play. This is your chance to see the future of the Rays  organization. While at a game you can grab a hot dog and soda, or a drink from the tiki hut bar in centerfield. You can also purchase souvenirs and memorabilia so that you can have something from your trip to the ball park. The Charlotte Sports Park also hosts concerts during the year and has featured big names such as The Beach Boys, Kenny Rogers, and Simple Plan. The Charlotte Sports Park is must see for anyone visiting Port Charlotte.

•  Port Charlotte Beach Park — Talk about things to do. There is SO much to do at the Port Charlotte Beach Park. Located at 4500 Harbor Boulevard, Port Charlotte Beach Park sits on the shores of Alligator Bay (don’t worry, it’s just a name!). For those who love the outdoors, this is the place to be. The Port Charlotte Beach Parks offers basketball/ tennis/ volleyball courts, BBQ grills, boating ramps, Bocce, Canoe/ Kayak, a dog park, loads of fishing areas, horseshoes, picnic shelters/ pavilion, a playground, a rec building, on-site restrooms, party room rentals, a swimming pool and beach access to the bay. This is such a great amenity for the residents of Port Charlotte, because it is so close to home and is very inexpensive. A friendly staff is there to make your experience memorable and enjoyable. And for those who just can’t get enough of those magnificent Florida sunsets, the Port Charlotte Beach Park is an ideal viewing location.

• Riverwood Golf Club — What list would be complete without a golf course? Southwest Florida is renowned for its many beautiful golf courses, but a favorite of your Suncoasteam is Riverwood Golf Club, located at 4100 Riverwood Drive. This beautiful 4.5 star, 18 hole course offers challenging wooded terrain, salt marshes, and wetlands that is surrounded by lush landscaping. Rates vary depending on public or membership status, time of day, and the time of year. Reasonable prices allow the general public to play on this course. Members can enjoy the Clubhouse Grille, where they can indulge in a variety of food and drinks. Riverwood Golf Club could also be the venue of the next wedding in your family. Whether it is wedding or golf that brings you to Riverwood Golf Club, you will not be disappointed. Offering what some may consider the best course in Florida, the Riverwood course is well-maintained and a dream for gulf enthusiasts.

• Nightlife and Restaurants — Port Charlotte has numerous fun and exciting spots for a night out on the town. One fun entertainment venue for a night out is Visani Restaurant and Comedy Theater. Located at 2400 Kings Highway, Visani is restaurant and comedy club of sorts. The menu has a fun, comedic theme to it, consisting of: The Prelude (appetizers), The Main Attraction (chicken, pasta and seafood specialties), The Headliner (a variety of steaks), Side Show (sides of pasta), and The Finale (desserts, of course). These unique menu categories offer many delicious and classic Italian dishes, such as Chicken Florentine, Chicken Cordon Bleu, Seafood Raviloi, Manicotti, Shrimp Combinations, Specialty Pizzas, and even Surf and Turf options. However, your meal is just half of what Visani offers. Comedic performances are what make the show. Comedians from Las Vegas to New York are featured throughout the week, making a night at Visani so memorable, you’ll want to go back. Another Port Charlotte favorite is Gatorz Bar & Grill, located at 3816 Tamiami Trail. Gatorz has been rated the #1 sports bar, #1 wings 14 years in a row, and #1 cold beer in Charlotte County. Offering live entertainment seven nights a week, Gatorz is a great source of nightlife in Port Charlotte. Wonderful live music, engaging events, and a charismatic atmosphere await those who visit Gatorz. However, it’s not all about the music and drinks; Gatorz has delicious food as well. Starting with their famous wings that are available in a variety of tasty sauces, the food here is unforgettable. A complete menu of burgers, sandwiches, and Gatorizerz (appetizers) is available at affordable prices. Go for the food and stay for the fun. Or go for the fun and stay for the food. Either way, Gatorz is a popular restaurant and nightlife location in Port Charlotte.

These 5 “must-see” places only scratch the surface of what Port Charlotte has to offer. There is something to do for everyone. If you have interest in property on Florida’s Gulf Coast, please click here, Southwest Florida Real Estate For Sale. For more information on a specific property, please contact Jim Mulligan, Suncoasteam Realty at 941-235-7474 or jim@suncoasteam.com.

Two units are available and both are listed at under $40,000!

2300 Aaron Street #313 (C7029807)

This upgraded unit includes a new dishwasher, insulated windows, a carport, and is move-in ready. The furnishings are optional in this comfortable 2 BR, 2 BA unit.

Please click HERE for more pictures and information about this unit. Only $39,995!

2300 Aaron Street #104 (C7025027)

This convenient 1st floor, 2 BR, 2 BA unit offers an extended living room design. An open kitchen offers a spacious feel that will allow you to cook in style after a fun day outdoors.

Please click HERE for more pictures and information about this unit. Only $34,000!

These might not last long, so contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

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According to Steve Berkowitz, chief executive officer for Realtor.com, “close-in suburbs are recovering faster than the outlying ones”. Additionally, the nationwide median list prices for resale homes in March 2012 increased about 5.6% to $189,900 over the prior year number. Comparatively, the first quarter for residential real estate sales in Sarasota and Charlotte Counties were positive. The average sale price increased from $183,848 in January 2012 where 1,020 homes sold to $221,975 in March 2012 where 1,512 homes sold (For complete statistics for area real estate, visit QuickStats of Sold Properties).

A Yahoo! Real Estate article by June Fletcher, states that “in the 146 markets Realtor.com surveyed, listing prices were up 1% year over year in 111 metropolitan statistical areas and 5% or more in 70 cities.” The recovery in these areas have contributed to rising home prices. Locally, Punta Gorda has been a part of this recovery process, as home prices have risen by 17.5% in March of 2012 over the prior year.

Sellers also received more good news regarding the days on market for residential property. According to Fletcher, “the median time on the market was 89 days in March, roughly a 19.8% decline from the same month a year earlier. It’s a remarkable turnaround: In March 2010, the median age of for-sale inventory was up about 26.1% from the year before.”

A decreasing home inventory has been another encouraging sign for consumers. With decreasing inventory levels in areas such has Port Charlotte and Punta Gorda, there has been a 21.5% decrease in the nationwide inventory of single-family homes, condos, and townhouses from the prior year. This decrease in inventory levels states that the housing market is in a stronger position that it was just a year ago.

While there are several strong indicators that the nationwide housing market is on the road to recovery, the momentum may be slowed due to “shadow inventory” of homes that are headed for foreclosure. CoreLogic, a research firm in California, “estimates that the shadow inventory is about 1.6 million units, which would take about six months to clear at the current sales rate.” However, some economists believe that six months is too optimistic and that these properties could take over nine months to clear. Nonetheless, it is not believed that this will stop the recovery. While it certainly may slow things down, this could be one of the last obstacles before real estate prosperity is back on a national level.

If you are interested in listing your home with Suncoasteam Realty, would like buyer representation or if you have any questions regarding a particular piece of property, please contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

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According to an article by Ken Harney of the “Washington Post”, “a low-ball offer – generally 25 or more off the asking price – allows buyers to see if they can land a great deal, even if they’re willing to pay more.” When the market dictates that home buyers can get great deals on property, many of them feel that they don’t have anything to lose by making an offer well below the asking price. However, as more and more “low-ball” buyers miss out on property because they are making offers that sellers will not even consider, they’re tactics begin to change as they evolve into more aggressive buyers.

Can the buyers really be to blame when they make a low-ball offer? Not really. Buyers are still seeking the best possible price on pieces of real estate– and to each their own. Harney states that “in some cases, a seller isn’t offended by a low-ball offer, but their counter-offer shaves only a little bit off their original asking price.”

The rising median sales price and the decreased inventory for homes and condos in the state of Florida indicate that low-ball offers are going to see less and less success. For instance, in Charlotte County in March 2012, the average Selling Price as a % of List Price for all Single Family Homes was 93.4%. (View reports or conduct your own report at Statistics Report, Southwest Florida Homes )

Harney went on to say that “rolling low-balls at sellers may have been an effective approach between 2008 and early 2011, but in 2012’s environment – at least in rebounding markets – it could be counterproductive if you truly want to buy.” Sellers want buyers who are realistically willing to buy. While it is in the buyer’s power to make an offer below the asking price, it may not be advisable to make an offer so low that it knocks them out of the running for a piece of real estate without so much as a counter-offer from the seller. It is important for the buyer to beware, but it is even more important for the buyer to be smart.

If you are interested in listing your home with Suncoasteam Realty, would like buyer representation or if you have any questions regarding a particular piece of property, please contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

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An increase in pending sales means that buyers have gotten more aggressive and are now willing (and able) to purchase property in the state of Florida. Furthermore, the higher median prices indicate that buyers have driven up demand, thus inversely affecting the inventory of available homes. According to Florida Realtors President, Summer Greene, “with the continued steep decline of inventory, historically low interest rates and buyers no longer willing to wait on the sidelines, Florida’s real estate market continues on its road to recovery.” With pending sales for single-family homes up nearly 30 percent and pending sales for condos up almost 20 percent, the number of available homes and condos will continue to shrink as these turn into sold properties.

According to data from Florida Realtors Industry Data and Analysis department, and vendor partner 10K Research and Marketing, “the statewide median sales price for single-family existing homes in March was $139,000, up 10.3 percent from the year-ago figure.” Comparatively, the median price for single-family existing homes in March was up from $134,000 in February 2012. Additionally, The statewide median for townhome-condo properties was $105,000, up 20.8 percent over March 2011″ (Florida Realtors). While Florida single-family home median sales prices are less than the  national median of $157,100 that was reported in February 2012, consumers should still be encouraged at the progress that has been made and the positive signs the market is showing.

As the Florida housing market continues to rebound, it is worth noting that the number of “statewide sales of existing single-family homes totaled 18,370 in March, down 5.7 percent compared to the year-ago figure” (Florida Realtors). However, consumers must remember that despite the slight decrease in the number of sales, the number of pending sales has increased dramatically.

With an increase in the median home prices, it shows that buyers are now looking at higher priced properties and that the demand for higher priced homes is increasing. Similarly, those looking to purchase homes are able to do so at historically low interest rates. According to Freddie Mac, “the interest rate for a 30-year fixed-rate mortgage averaged 3.95 percent in March 2012, down from the 4.84 percent average during the same month a year earlier.” Though this rate is minutely higher than the 3.89 percent rate for the month of February, buyers can still lock in to very “buyer-friendly” terms.

As we look at the progress that has been made in the Florida housing market over the past year, it is clear that we are past the “correction” stage and are well into the “stabilization” stage of this cycle. With the trough of the market in the rear-view mirror of economists, consumers can now take advantage of the surge in Florida real estate. The positive trends are expected to continue, which will mean that home prices will continue to rise, the available inventory of homes will continue to diminish, pending sales will become finalized, and the interest rates will begin to increase. The next few months could paint a clear picture as to just how fast the Florida housing market will grow. As we move further into 2012, there could very well be an even higher influx of buyers looking to take advantage of the deals that are available on the market today. The question that remains: how long can buyers wait before all of the good deals are gone?

If you have interest in property on Florida’s Gulf Coast, please click here, Southwest Florida Real Estate For Sale. For more information on a specific property, please contact Jim Mulligan, Suncoasteam Realty at 941-235-7474 or jim@suncoasteam.com.

Unfortunately, there are several small mistakes that sellers make that can “turn off” prospective buyers altogether. Sellers must take a step back and realize that they can become their own worst enemy if they are not careful. An article in the “Sun Sentinel” revealed five things that turn off prospective buyers.

• A cluttered house or one that smells. While one might think that prospective buyers can look past the fact that you are moving out, having too many possessions and boxes is an unappealing visual that can hurt the sellers chance of selling their home. Prospective buyers want to imagine themselves living in the home and if the current occupants have possessions that take up space, it is hard for buyers to visualize themselves in that home. Ideally, the sellers should have all their stuff moved out before putting their home up for sale (or at least put stuff in storage!).  Additionally, foul odors such as cigarette smoke or nasty pet smells are a turn off to prospective buyers. Buyers  will not even waste their time going through a home that smells like smoke.

• False or misleading advertising. Be honest. Many times sellers mislead or even falsely advertise certain aspects about their home. For example, just because you used that spare, windowless, closet-less room as a bedroom for the past twenty years does not make it an additional bedroom. Comparatively, sellers should not claim that their home that has a water view is a waterfront property. Sellers should not try to sell what is not really there– state the facts and remain honest!

• Sellers not committed to selling. Often times, sellers will list their home for sale just for the sake of “testing the waters.” These types of sellers will test the market, then waffle when buyers show serious interest. “Wishy-washy sellers don’t use lock boxes that give agents quick access, or they’re not accommodating when it comes to scheduling the homes for showings” (Sun Sentinel). For sellers who truly want to sell their home, the home should be available to show at almost any time. There should be only very few times when a seller cannot show their home.

• Overpricing the house. It’s understandable that sellers might get attached to the home where they’ve lived for years. However, sellers should not let their fond memories lead to overvaluation of their home. Instead, sellers should seek the agent who can best represent them. Find the agent who will provide you with the information for recent selling prices for comparable homes in the area. Even though prices are on the rise, sellers who price their property too high will not generate much interest. Sellers who list their home at market price are going to have a better chance of getting it sold.

•  Sellers who stay for the showing. “This is a pet peeve of buyers and agents, who say sellers should be long gone when prospective buyers show up” (Sun Sentinel). Buyers want to tour without the owners lingering around. Buyers want to make the decision whether they should buy a piece of property– owners who “give the tour” and try to “sell” the prospective buyer on why they should buy the house are doing more harm than good. Some real estate professionals even advise sellers to not speak with buyers until a contract is signed. “By revealing their motivation, for instance, sellers can inadvertently give buyers more power in negotiations” (Sun Sentinel). Sellers beware.

If you are interested in listing your home with Suncoasteam Realty, would like buyer representation or if you have any questions regarding a particular piece of property, please contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

THIS HOME HAS BEEN SOLD
CLICK HERE TO SEARCH WATERFRONT HOMES IN PORT CHARLOTTE, FL

If you have been looking for the home that has it all, look no further. A remodeled interior, spacious rooms, swimming pool, 58′ long dock with a 10,000 lb covered lift, sailboat waterfront access (no bridges to the harbor of gulf), and so much more await you at this gorgeous home in Port Charlotte.

Sailboat water, fast out to harbor, wide canal, serene view of preserve from pool/lanai, over $80,000 in upgrades in 2011 alone! Oversize lot 125×105. New 58′ composite dock w/ 10k lb lift and boat cover. New storm rated windows and sliders over $19,000. Remodeled baths w/ custom vanities and cabinets, new deep tub and shower, toilets, sinks, exhaust fans, lights. Complete like new pool refinishing and tiles over $9,000 with new pumps, plumbing conversion to salt water. All new appliances with extended warranties. New sink and faucets. All plumbing and electric inspected, replaced if need to bring to code. All new carpet and ceiling fans in bedrooms. New cabinets in garage. Formal living room and separate family room with fireplace. Split bedroom plan with huge master. Large caged lanai, new roof 2005. Termite warranty. More, more more! Seller will consider financing to qualified buyer! Furnishings available. Invoices available for all work. Additional photos available.

Not only does this home have everything a sailor, boater or fisherman could want, but it is also in a fantastic location. A short drive will get you to the area beaches or a night of fun in Fisherman’s Village in Punta Gorda.

So whether it’s dropping your boat in the water and spending the day sailing around the harbor, or spending the day in your pool, relaxing while you enjoy the view from your lanai, or if you want to be around all of what the Port Charlotte area has to offer, you must check out this home today.

Only $375,000!

This one might not last long, so contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

2049 WONDERWIN ST and 442 ROCKCROFT ST

These great building lots are located in North and Northwest Port Charlotte. Wonderwin is just blocks away from the high school and Rockcroft only a short drive or bicycle ride to Charlotte Sports Park– the home of the Tampa Bay Rays spring training. Make one of these lots your future residency and you will be near local shopping (Regal Town Center 16), entertainment, and dining. Close to Charlotte Harbor and the areas beautiful beaches.

Each lot is listing for only $5,000!

Please click Wonderwin and Rockcroft for more information about each building lot.

If you would like additional information, please contact Jim Mulligan, Suncoasteam Realty, 941-235-7474 or jim@suncoasteam.com.

A stabilizing economy has produce encouraging trends for the Florida housing market.  According to Greene, “increased statewide pending sales for both single family existing homes, up 36.1 percent, and for townhouse-condo properties, up 19.8 percent, show that buyers are encouraged by these positive signs.” The statewide median sales price for single-family existing homes in February 2011 was $124,352. In February 2012, that number increased 7.2% from February 2011 to reach a median sales price of $134,000 (Florida Realtors). To put this in perspective, “the national median sales price for existing single-family homes in January 2012 was $154,400, which is 2.6 percent below the previous year, according to the National Association of Realtors” (National Association of Realtors).

Additionally, “statewide sales of existing single-family homes totaled 14,270 in February 2012, down 4.8 percent compared to the year-ago figure. Looking at Florida’s year-to-year comparison for sales of townhomes/condos, a total of 7,545 units sold statewide last month, down 16 percent from those sold in February 2011. NAR reported the national median existing condo price in January 2012 was $156,600″ (National Association of Realtors).

Florida has also seen a decreased inventory in the number of homes available. For February of 2012, the inventory for single-family homes was 6.2 and for condos/townhomes was 6.3 — a decrease from February 2011. Though we are still in what is referred to as a “buyer’s market,” there are multiple signs that housing conditions are improving in Florida and that the market is reaching a point of equilibrium. As home prices continue to rise and the inventory drops, consumers will soon see a more balanced housing market. According to Florida Realtors Chief Economist, Dr. John Tuccillo, “For the past year, median sales prices have been slowly rising; and over a longer period of time, prices have really flattened out – again, signs of an improving housing market” (Tuccillo).

Specific to the trends and statistics that are “close to home,” we must also look at Port Charlotte’s housing market. From December 2011 to February 2012, the median sales price for homes in Port Charlotte, Florida was $75,000, which demonstrates a 4.3% increase from the prior quarter and a 15.4% increase from the prior year. Furthermore, since February 2012, Port Charlotte home inventories are down 6%. Comparatively, total inventory of single-family homes in Port Charlotte, as of March 1, 2012 is down to 751– approximately 32.4% lower than one year ago.

As we continue to move forward into 2012, it seems as if all indications are that Florida’s housing market will continue to stabilize and become more balanced. While we are in a buyer’s market now, it is difficult to say as to how much longer that will last. In relation, according to Freddie Mac, “a 30-year fixed-rate mortgage averaged 3.89 percent in February 2012, down from the 4.95 percent average during the same month a year earlier” (Freddie Mac). Low interest rates and “below market” priced homes confirm that the market is shifted to those looking to buy. However, decreasing inventory, increasing home values, and a rebounding economy will ultimately sway the economic pendulum in the way of sellers. This does not necessarily mean that we will see dramatic shifts from a buyer’s market to a seller’s market over night. It simply means that economic balance and prosperity should once again return to Florida. It means that we should see property values getting back to where they were before this economic recession. It means that Florida’s housing market should once again thrive and that we will reach an economic balance. For now, it is a perfect time for those looking to buy to go out and buy. It’s the perfect time for prospective buyer’s to take advantage of undervalued home prices and extremely low interest rates. Florida’s housing market is on the rise and the great deals that are on the market now will not be there forever.

If you have interest in property on Florida’s Gulf Coast, please click here, Southwest Florida Real Estate For Sale. For more information on a specific property, please contact Jim Mulligan, Suncoasteam Realty at 941-235-7474 or jim@suncoasteam.com.

Halfway between North Port and Port Charlotte, just seconds from Tamiami Trail, and across from the future Murdock Village development, these vacant lots are in a very desirable location. Close enough to the mall and local dining allow you to build in close proximity to area businesses, yet the surrounding landscape offers a quaint, quiet, Florida feel.

Only $49,950!

For more information, please visit: http://mfr.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1508282939&s=MFR&t=MFR

If you have any questions or would like more information, please contact Jim Mulligan, Suncoasteam Realty, 941-235-7474 or jim@suncoasteam.com.

According to NeighborhoodScout.com, the reason that Englewood is the number one place to retire is due to the following: “On Lemon Bay in Southwest Florida, south of Sarasota and north of Port Charlotte, beautiful Englewood is less well known — and that helps it retain its incredible retirement value. The Town Center neighborhood is one of the safest in Florida, with incredibly low crime rates. It’s a quiet, educated neighborhood with lots of seniors (and other age groups). Despite its quality, safety, and subtropical Gulf Coast amenities, Englewood offers an incredible median house value of just over $200,000.”

This is certainly accurate and well-deserved reasoning as to why Englewood is a great place to retire. However, I wanted to dig a little deeper and tell you why I think Englewood is such a fantastic place and highlight some of the best aspects about this quiet little Florida town.

For one, Englewood is close enough to the hustle and bustle of a major city, big name corporations, popular restaurant chains, and stores that, quite frankly, you could visit almost anywhere else in the United States. The beautiful thing about Englewood, aside from the landscape, is the small-town culture. It is here where we will begin looking at the “hidden gems” that Englewood has to offer.

For those who visit Englewood, Florida, a trip down Dearborn Street is absolutely essential. Palm trees line both sides of the street where you can find a variety of eccentric shops, including art galleries, antique stores, cigar shops, gift shops, shops for clothing and apparel, barbers and salons, taverns, cafes, and of course many charming, local restaurants. For a complete list of shops on Dearborn Street, please visit http://www.englewoodinsider.com/olde-englewood-dearborn-street-englewood-fl.

One thing that I have always found fascinating about Englewood, Florida is how there seems to be so many delicious restaurants that will satisfy anyone’s taste buds. One of the best places at which I have ever eaten in the entire state of Florida is Lock & Key Restaurant. Whether you are looking for a nice lunch, an “Early Bird” dinner, or a place with a large selection of dinner items, or if you need delicious food catered for a party, this is the place for you.  Lock & Key offers a variety of seafood items, chicken, pork, beef, salads, as well as many tasty desserts. And for those who are looking for a great Happy Hour, there is none better than Lock & Key. Furthermore, there is generally live entertainment every Wednesday through Sunday. Did I mention that this place also sits right on the beach?

Aside from the great shopping and amazing dining options that Englewood has to offer, the one reason that many retirees seek Southwest Florida as a retirement destination are the beaches the area has to offer. The beaches in Englewood are covered with pristine, soft, white sand that leads into the clear water of the Gulf of Mexico. The Englewood Beach in particular has been renovated with brick sidewalks and updated restrooms. In addition, for those looking for a little more activity at the beach, there are volleyball and basketball courts so that you can work up a little sweat before cooling off in the Gulf.

Englewood is a safe, gorgeous, relaxing location on the Gulf Coast of Florida. Affordable home prices, a charming atmosphere, charismatic culture, and the tropical feeling you get in Englewood is what makes it such a great place to retire. Click here to start you search today and let your Suncoasteam know how we can help you retire in America’s number one retirement destination.

If you would like more information about specific properties in Englewood, Florida, please contact Jim Mulligan, Suncoasteam Realty, 941-235-7474.

Comparatively, the market has affected prospective buyers as well. As property prices reached record lows, many buyers attempted to seize the opportunity to purchase real estate at a bargain. However, as banks were in “defense mode” against lending to just anyone, many of these prospective buyers were facing an uphill battle when it came to financing options. The required credit score to be eligible for home financing rose, the LTV ratio (loan-to-value, discussed later) decreased, and lending amounts to borrowers declined.

Moreover, according to an article by Krista Brock with DSNews.com, “the average credit score required to attain a mortgage loan is 700″ (Brock). While this average is higher than it was before the housing crisis began, it has remained constant with the requirements from one year ago. Furthermore, mortgage lending seems to be stabilizing, while it seems as if banks are loosening credit availability. According to Brock, at the low point of the crisis, banks were lending at 3.2 times borrower earnings. Currently, banks are lending at 3.5 times borrower earnings. Additionally, banks are increasing the loan-to-value ratio, which is “the clearest sign yet of an improvement in mortgage credit conditions” (Brock). The loan-to-value ratio is a lending risk assessment that lenders (and financial institutions) examine before approving a mortgage. The LTV is calculated by taking the mortgage amount and dividing it by the appraised value of the property. In essence, the LTV is a clear dictation as to what percentage of the property’s value is being financed.  An increasing LTV means that banks are loosening the down payment requirements from borrowers. A higher LTV means that buyers are financing a larger percentage of the property value, which in turn creates greater risk to lenders. In mid-2010, LTVs reached a low of 74 percent, while they have currently risen to 82 percent.

While it is in fact good news that banks are lending again, there are still those who are struggling with credit requirements. According to Brock, in “November (2011), 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.” Therefore, while the economy has seen improvements and the end of the housing crisis seems to be on the horizon, the real estate industry should see more “wins” moving into 2012. More people will be able to not only buy, but also be able to afford what they buy. It will be a universal effort from financial institutions and lenders to appropriately evaluate each and every potential buyer, maintain credit standards (not setting them too unrealistically or too loosely), and help homeowners and investors purchase property in a responsible manner.

If you are interested in owning property in SW Florida, please visit http://www.searchsuncoast.com/search-listings.html and contact Your Suncoasteam today!

If you are looking for an adult (55+) community near everything that Port Charlotte has to offer, then you have to see this unit at 2300 Aaron Street in Port Charlotte that is now selling for only $39,000.

This 2 bed, 2 bath condo is located on the first floor and includes an extended living room design. An open floor and open kitchen design gives this unit a spacious feel. There is also covered parking and a separate storage area. This 55+ community offers numerous amenities, including 2 large heated pools, tennis courts, shuffleboard, and clubhouse.

The spectacular location of this condo will allow its residents to have quick access to I-75, Tamiami Trail, Charlotte Harbor, beautiful area beaches, local hospital and medical facilities, public library, shopping, dining, and the Cultural Center.

Come see what Port Charlotte and this lovely, affordable condo have to offer. This location is ideal for anyone who wants to get the full Port Charlotte experience and enjoy an excellent retirement community without breaking the bank.

To see more information and view pictures for this affordable, $39,000 condo unit, please visit http://www.searchsuncoast.com/Condos/Port-Charlotte/C7025027.html.

For questions or inquiries, please contact Jim Mulligan at Suncoasteam Realty, 941-235-7474 or email to jim@suncoasteam.com.

Spring training is once again in Port Charlotte and Tampa Bay Rays manager, Joe Maddon has a strong slate from which to choose. Many of our Stone Crabs favorites are on the roster, including Steve Vogt, Nevin Ashley, Tim Beckham, Mark Thomas, Hak-Ju Lee and pitchers Matt Bush, Alex Cobb, Alex Colome, Marquis Fleming, Jhonny Nuñez, Albert Suarez and of course, the Rays surprise of 2011, Matt Moore.

When it comes to learning the game of tennis, many people hit the court and become discouraged if they are not successful from the start. That’s where Bill Longua’s  book, Winning Tennis Strokes, comes in.

Bill Longua, is the Tennis Director/ Head Pro at Palm Island Resort in Cape Haze, Florida. If you are visiting the area and enjoy tennis, a personal lesson from Bill will certainly help improve your game.

Bill has been playing tennis since a boy and coaching since 1973. Not only has he mastered the game, written a book, and played competitively, but Bill has also developed an Online Training Program to help people learn and improve their game in this “age of the Internet.” Bill’s program teaches proper techniques and emphasizes the importance of muscle memory, which has produced results in as little as two weeks for many of his students.

Bill’s online course only costs $14.99 PER YEAR! Bill’s lessons, along with his book, Winning Tennis Strokes, teach individuals how to play tennis effectively.

For more information, please visit http://onlinetennistraining.com/

This demand for foreclosed properties means that the limited supply that hits the market in 2012 will not be available for long. In order to have the best chance at buying one of these foreclosed homes, buyers must exercise their due diligence  and make offers that “stand out from the competition” (Florida Realtors).

Your Suncoasteam is ready to provide you with free help to find foreclosures that hit the market in 2012. All you have to do is go to http://www.searchsuncoast.com/search-listings.html and simply change the “Selection” to “Foreclosures Only” and you can see an entire list of the foreclosures that are on the market. After finding a property that interests you, simply contact your Suncoasteam and we will provide you with any additional information that you may need.

However, finding a foreclosure is just the beginning of the purchasing process regarding bank-owned real estate. Actually buying the property is a whole other battle and your Suncoasteam wants you to be prepared so that you have the best chance at “impressing” the bank in order to beat the competition.

According to the article by Florida Realtors, it is suggested that buyers “offer the most they feel they would ever pay for the property” (Florida Realtors).

Additionally, “paying up” can be an effective strategy to impress the banks and give buyers an inside track at beating the competition. Making a “hefty good-fath deposit” is one way to stand out against all others vying for that same piece of property (Florida Realtors). The article by Florida Realtors states that “a typical buyer puts down $1,000 to convey interest. Buyers who want to impress the bank may want to offer substantially more” (Florida Realtors). Naturally, the more cash that a buyer can put down, the more attention they will get from the bank. Comparatively, it is not unheard of if a buyer puts down cash for the entire purchase price, since that full amount will be paid in a few weeks at closing (Florida Realtors).  There is, however, a risk associated with this strategy. The buyer risks the deposit if they have to back out of the deal for any reason that is not stated in the contract.

One way to combat these risks and have the best chance at beating the competition is to volunteer to close quickly with the bank and to turn in ALL documents and paperwork when submitting offers. Another useful bit of information would be to “stand firm: [and] don’t cave in to unreasonable demands” (Florida Realtors). Buyers should be aware that banks may try to get them to close so quickly that the bank may tell buyers that they have to “waive their right to a home inspection if they want the property, because so many bidders were interested ” (Florida Realtors). Though it is ultimately up to the buyer to waive a home inspection, this does not always guarantee that they will get the property. Getting a home inspection is something that all buyers should do before purchasing a foreclosed property.  Often times, the previous owner may have left the home in such a state of disrepair that it would be a disservice to a buyer to not have a home inspection conducted. It is much better to walk away from a deal that makes you uncomfortable than to be “railroaded” by a foreclosure bank. Discuss the deal with your agent, have a strategy and make a measured decision.

While purchasing a foreclosure seems like a way to get a great deal on a piece of property, there are risks, time, and a great deal of competition for foreclosed properties. Buyers must be knowledgeable, patient, and know their rights when going through the process of purchasing a foreclosure. With the assistance and guidance of a real estate agent, buyers will be better prepared to battle the banks and get the best terms possible when buying foreclosed real estate.

Though there have been signs of crests and troughs over the past four years, many economists believe that we are past the worst of the recession. This is good news to everyone across the United States, but those in Florida, those who have been so strongly affected, are seeing signs that the housing market is turning around.

According to an article from the Florida Realtors, January of 2012 delivered some very encouraging results for homeowners, home buyers, realtors, and investors. According to the article,  “Florida’s housing market reported gains in median sales prices and a reduced inventory of homes for sale in January” (Florida Realtors). This brings an even brighter ray of sunshine to the Sunshine State, because it means that more people are buying homes or condos, which suggests that the housing market is growing stronger. Florida Realtors President, Summer Greene, said that for “statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8 percent to $95,000 for condo-townhomes” (Florida Realtors). The rising price in median sales, coupled with the fact that pending sales are higher, and that fewer homes are available on the market, demonstrate that Florida’s housing market is improving and that “the availability of affordable financing to qualified buyers and investors [will] continue to stabilize Florida’s housing market and economy” (Florida Realtors).

This is a breath of fresh air for Florida, because the national median sales price for existing single-family homes saw a 2.5% decline from prior year in December 2011. The results suggest that Florida’s housing market is rebounding faster than many other states in the U.S.

Comparatively, the number of closed sales to pending sales is down from prior year in the state of Florida, but this is attributed to the difficulty it takes to secure financing. When we were experiencing the worst of the economic recession, pending sales were down, simply because people could not obtain the required financing for real estate. However, with the shift in momentum, lenders are loosening their grips and more people are able to afford their dream home.

The article by Florida Realtors also states that, according to Freddie Mac, “the interest rate for a 30-year fixed-rate mortgage averaged 3.92 percent in January 2012, down from the 4.76 percent average during the same month a year earlier” (Florida Realtors).

So what does this all mean for a state that was so drastically impacted by an economic downturn? The information discovered suggests that Florida’s housing market is becoming stronger and that more people are now able to afford homes and condos (and with better terms from lenders). While we are not entirely out of the woods, we are creeping closer to the stability and prosperity that the Florida economy has shown in the past. The housing market is critical (as in almost any State) to the success and growth of Florida’s economy. Economists refer to this type of climate as a “buyer’s market,” yet the question seems to be, for how much longer?

Click this link for a report of Real Estate For Sale In Southwest Florida

For full details and photos, click this link:

Deep Creek Custom Luxury Home For Sale

To schedule a viewing, please call Jim at 941-456-3034