North port property heathing up (Sarasota, Venice: for sale, foreclosures, insurance)

[itlltickleurinnerds]

I was listening to the Radio this morning and the story was that NP property is selling fast and if you want to buy now is the time.

[nphomeowner]

Our secret must be out. We love it here.

[mr&mrssunshine]

a number of us have been saying it for a while...prices will only continue to go up for a good time from now.
the absolute best time to have bought was between 1 and 3 years ago

[TamRE]

New listings are coming on the market daily. So there is still a lot to choose from. It's not too late. But the prices have been going up. I have seen a lot of normal sale listings too, not just foreclosures and short sales. This is the time of year when we get multiple offers on some homes.

[JERSEY MAN]

I see the overall year to year numbers went up, but they went down fast extremely fast. I wouldn't go with the notion of you have to buy now before it's too late. Most of these homes are bought by out of state people and some foreigners that wanted to get in while the going is good. The economy is so, so. Gas is going up daily and the economy is stagnant. Until there is a big jump in the reduction of unemployment I think the housing market rises slowly from here. If people don't get off the unemployed rolls it's hard for sales to take off. You don't want home prices to take off or we'll be back in the same boat as 2008-2011. JMHO. Jersey Man

[chuckycheese]

I think the situation is improving all over SWF, for certain, but the statistics aren't nearly as 'rosey' as the anecdotes. The statistics always lag behind, of course, but that's the thing to really watch.

I live in PGI and there is a bunch of inventory.....I mean A BUNCH!

[StepHome941]

North Port is actually outperforming the other towns and cities of the area. North Port was the epicenter of the housing boom, but also, the subsequent housing bust. We still have a long way to go in the recovery but the factors that led to the boom in the first place are still in place. You can buy a larger and newer home in North Port when compared to Sarasota or Venice. I was just working with a couple who had been considering buying their retirement home in Venice and they found a nice home in North Port that would have cost more than twice as much had it been located in Venice.

[JERSEY MAN]

I am looking there now. I looked at several foreclosures and prior high purchases. One was sold for 955,000 6 years ago and is listed for 540 with no offers to date. Another sold for 1,2 mill and the owner can't get 680 now. They were way overpriced to begin with and will never see them prices again in our lifetimes. If they do the same thing will happen. As for Northport the prices seem to be alot cheaper. The graph posted says the average home last month sold for 112K. They are at a price point where they are a good deal. Someone posted awhile ago that an investment firm I think blackwater was buying these homes sight unseen which drives up prices. Well anyway from being a northerner a home priced at 112K cannot be found up here.

[Harbor Hopper]

How are gulf-access, waterfront vacant lots selling in the PC area? Thinking about keeping ours for a few more years before deciding what to do with it, but just thought I'd ask.

[StepHome941]

New construction is happening in communities like Talon Bay and Cypress Falls, because there is very little inventory in North Port. I also see new construction occurring here and there as I drive around the city. We still have a long way to go, but the actual statistics show that right now, North Port is outperforming the greater Sarasota market as a whole, in price appreciation, and has less months of inventory available. North Port is still a relative bargain compared to Sarasota and Venice. You can buy a newer and larger home for less money and also save on homeowner insurance while still being part of Sarasota County and the Sarasota County school district.