Local Sarasota county stats (North Port: foreclose, homes, moving)

[lynne4t]

I feel the same way, Col. As soon as we find our home, THEN the market can get better!
For us, like you, it's not a matter of intentionally waiting for a better market, it's just waiting for the right place. If we end up missing the "bottom", that would be okay if we find just what we want. Not necessarily looking for a foreclosure, but know that when foreclosures come into the market, all prices get a little depressed. Even when it does start to pick up, I don't think things are going to skyrocket overnight. I feel there's no rush, but I'm also not one to rush into anything. Been looking for over a year, with three trips down (so far) getting a feel for different areas and homes.
Good Luck to you!

[Big House]

Originally Posted by lynne4t

I feel the same way, Col. As soon as we find our home, THEN the market can get better!
For us, like you, it's not a matter of intentionally waiting for a better market, it's just waiting for the right place. If we end up missing the "bottom", that would be okay if we find just what we want. Not necessarily looking for a foreclosure, but know that when foreclosures come into the market, all prices get a little depressed. Even when it does start to pick up, I don't think things are going to skyrocket overnight. I feel there's no rush, but I'm also not one to rush into anything. Been looking for over a year, with three trips down (so far) getting a feel for different areas and homes.
Good Luck to you!

Lynne, I think you are absolutely right. Find the right area, then find the right home. I know you have been looking long and hard. No things won't skyrocket - not for some time, but any improvement is welcome (not so much for me - but everyone that has been hurting because they have lost so much equity and value in their homes over the past 4 years.)

I just posted on one of the other threads some of the propaganda about Punta Gorda - check it out. It might just be what you're looking for. It is a "small town" at heart. I have made friends with many of the locals over the past couple years, and am beginning to feel like one. It is a friendly place.

[Col.W.Deering]

Been looking for a long time myself lynnet4.
Good luck in your search too!

[SoFLGal]

I don't put too much weight into National articles but I just found these paragraphs interesting:

housing-crash-getting-worse-marketwatch: Personal Finance News from Yahoo! Finance

But in the places that have fallen the furthest, there are deals aplenty. Zillow found only four metro areas in America that have leveled out, or risen, lately. Notably, two of those are in stricken Florida — Fort Myers and Sarasota. Have they fallen so far they've hit bottom? Maybe.

and

And there are plenty more sitting in the wings. Banks are holding back big shadow inventories of homes. And that means you can get a great deal. They have to sell. You don't have to buy. You hold all the cards. Remember, the name of the game isn't "let's make a deal." It's "take it or leave it."

and

I have absolutely no idea when real estate is going to hit rock bottom. It may take several years. I suspect it will do so in different markets at different times. But there are good homes out there going really cheap. If you hunt down the bargains, you're disciplined about price, you get the right financing, and you hold on for five years or more, you'll probably do pretty well from here.

[calico777]

Another great, informative thread. Thank you

Quick question....actually...two

What is MER paperwork?

If one comes to Sarasota to 'look', is it best to just call a listing agent? (not wanting to trouble someone (buyers agent) because we don't know how ready we are ....but how else would one get a good picture of homes for sale?)

[lynne4t]

Originally Posted by calico777

Another great, informative thread. Thank you

Quick question....actually...two

What is MER paperwork?

If one comes to Sarasota to 'look', is it best to just call a listing agent? (not wanting to trouble someone (buyers agent) because we don't know how ready we are ....but how else would one get a good picture of homes for sale?)

Don't know the answer to your first question, but as to the second, we used an agent on our first "getting to know the area" trip, but let them know ahead of time that we were just in the "looking" stage and just needed to get a feel for the area.

[calico777]

Thank you, I will do that!

[Karen and Jim]

SoFlGal, do you have the figures about Port Charlotte? Thanks!

[SoFLGal]

Originally Posted by Karen and Jim

SoFlGal, do you have the figures about Port Charlotte? Thanks!

Here ya go

Port Charlotte active single family homes: 950 of the active Port Charlotte homes there are 9 bank owned homes, 196 short sales and 675 regular sales.

Port Charlotte pending single family homes: 423

Single family homes that sold in Port Charlotte last month: 165. Of the sales in Port Charlotte there were 57 banked owed homes, 28 short sales and 80 regular sales
Port Charlotte:
Jan 12th-Feb 12th-181 homes sold, median sales price is $70,000
Feb 12th-Mar 12th, 151 homes sold, median sales price is $65,000
Mar 12th-Apr 12th, 209 homes sold, median sales price is $71,000
Apr 12th-May 12th, 165 homes sold, median sales price is $76,000
Still going on like a yo-yo in PC. As with all of the other counties there is still a huge short sale backlog.

[SoFLGal]

This pretty much goes along with what I've been saying: Southwest Florida home sales rise, bucking trend | HeraldTribune.com There's going to be a shortage of homes this summer, which will cause the prices to rise.

Come November or so we're going to see more bank owned homes coming on the market. I don't think, however, they're going to release a huge amount all at once.