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Old 01-04-2009, 05:42 PM
 
8 posts, read 16,359 times
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we need a thread for this area as it is in Charlotte County and there is no thread for this area of Florida~
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Old 01-04-2009, 07:15 PM
 
Location: Palm Island and North Port
7,511 posts, read 21,400,954 times
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I agree. It's kind of lost between the Sarasota section and the Ft Myers/Cape Coral section. I think they either need to make it it's own section or they need to combine it with the Sarasota section.

I get emails all the time asking where people should post.
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Old 01-09-2009, 02:37 PM
 
Location: WI
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I agree!!! We are looking right now to buy a house in Port Charlotte area, it's own forum would be wonderful! Who do we contact to get one??
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Old 01-09-2009, 02:51 PM
 
Location: Palm Island and North Port
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Port Charlotte is a great community! What info are you looking for about the community?
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Old 01-09-2009, 03:35 PM
 
Location: Punta Gorda and Maryland
6,103 posts, read 14,072,788 times
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I was thinking the same thing, so I started this thread about my experiences with Punta Gorda.

SoFLGal, I see you have everything well under control. That is what i'd expect from you, since you pretty much know everyone in this area!

Pagiee & MrCool28,
Here is the link to the thread which documents a lot of information about my house buying experience in Punta Gorda Isles (PGI). I think that you find that most of my experience will help you a lot, if you're thinking of buying. Without reservations SoFLGal will help you a lot too - no doubt!
Feel free to DM me if you have any questions. I'd be happy to help as well. I'm not an agent though.
//www.city-data.com/forum/flori...da-anyone.html
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Old 01-10-2009, 10:56 AM
 
Location: WI
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Quote:
Originally Posted by SoFLGal View Post
Port Charlotte is a great community! What info are you looking for about the community?
Well, you'll have to get out your crystal ball for this one, but do you think the home prices are going to continue to go down, or have they reached bottom? Do we buy now, or a year from now? We can't move down yet anyway, so we'll be renting it until we do. We're just afraid that by the time we DO get to move, which could be years from now, the prices will have gone back up.
Also, what we like about Port Charlotte is it's close proximity to Punta Gorda, as we like to have a bit of night life as well, and haven't found much in PC. There are some great deals over by Rotunda, but how far is that to Punta Gorda? We don't want to live in the boonies, and we'd like to be on a canal with boat traffic so there's someone else to look at when we're not in our own boat!
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Old 01-10-2009, 03:21 PM
 
Location: Palm Island and North Port
7,511 posts, read 21,400,954 times
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The prices of homes in Punta Gorda, Florida have been steadily falling. I did a little research for you and according to the Mid-Florida Regional MLS system, there has been a 25% drop in home prices since 2005 in Punta Gorda. That's quite a drop for such a short period of time. Just as one watches the stock market, the goal is to wait until the home prices have dropped as much as they will and purchase one just before the market begins to rise again. So, the real question is whether or not we have reached that point yet.

In my opinion, the home market is finally starting to level out. Home prices fell so quickly due to the surge of foreclosures and short sales on the market, creating a supply that overwhelmed the demand. As we all learned in high school economics, a high supply and low demand means low prices. What is beginning to happen now is that prices have gotten so low that even part-time residents and families who have been renting for years can afford to own a home for the same amount (or less!) than what they have been paying in the past. The more people that buy homes, the quicker the market will turn around.

When we reach that point in the supply-and-demand graph where they two are equal, then we will be well on our way to increasing home prices. If you have been thinking about or dreaming of owning a home in Punta Gorda (or anywhere in Southwest Florida), I would say that your ideal time to buy is between now and the next six to eight months. There is a possibility that the market is leveling itself now and will begin to rise by this time next year.

There was an article in the Herald Tribune over the summer that gave some very level-headed opinions, that may help you in your decision making process.

It is about 25 miles or 40 minutes from PGI to Rotonda. You are not going to find any canals with gulf access in Rotonda. On the other side of the road though in South Gulf Cove there is gulf access but it takes a while to get out-in some cases an hour or more depending on where you are. There is also a lock system that you have to travel through. You might consider this area out in the "boonies" though. If you are looking for night life I don't think Rotonda or SGC would be your cup of tea.

Also the PGI area does not have near as many foreclosures as most other areas. So, that factor doesn't effect this area as much. Although BigHouse did find a great foreclosures deal in PGI.

If you like PGI and want some night life drive down to Ft Myers or up to Sarasota for an evening

Here's a blog I wrote about your general question:
Just a few less "For Sale" signs around: Falling Inventory and what it means for YOU

An article titled "As inventory falls, agents' hopes rise" made for an eye-catching headline in the Herald Tribune a few days ago and managed to stir some opinions and emotions.

The article cites plenty of statistical figures (which, they admit, could be slightly skewed data due to the morphing MLS system) that show the number of homes on the market are declining steadily. The article is quick to point out, however, that this is not due entirely to sales, but a combination of sales and withdrawn listings. What is happening is that people who don't really NEED to sell their home are taking their home off the market until the situation improves. They are simply not getting the offers they were hoping for, so they're deciding to wait it out.

Generally speaking, this is a good thing. Simple economics and the law of supply and demand will tell us that fewer homes on the market means prices will steadily increase and the market level will be back where it needs to be. According to the aforementioned article, this process has begun.

It doesn't seem like this droop in the economy has been any good for anyone, but in fact there IS an upside. As the Herald Tribune's article points out, there are plenty of people who could not afford to buy a home before the market slump now living in cute 3 bedroom homes in a safer community. This is why an upside-down marketplace is sometimes helpful, even though it hurts just as many as it helps.

The downside, as is obvious, is the steady flow of foreclosures. Foreclosures are no fun, but they are a much needed way of getting rid of some of the extra inventory. Once the foreclosures slow down, a spike in home prices are certain. The saturation of foreclosures on the market is one of the things that has been keeping the home prices so low to begin with; a 3/2/2 being sold normally can't compete with a 3/2/2 in foreclosure - the banks are almost giving away some of these homes just to get rid of them.

What does this mean for someone wanting to buy a home?
I know that EVERYONE (Aunt Sally, your boss, television ads) has been telling you "Now is the time to buy" for quite some time, and if you've been waiting to see the market hit bottom, your wait may be over. In southwest Florida, the numbers SHOW inventory figures falling. Numbers don't lie, and these numbers mean that increased prices are around the corner. Another thing that will increase prices is when more and more buyers recognize that this IS the time to buy, and start buying! This will add to your competition. Prices now may be as low as they go, but you just never know... Looking at the MLS everyday there are now more homes closing and going pending than going on the market. The prices are a lot lower than a year or so ago but they are selling. I know people on this board and people that post on the newspapers' website like to say it's all hype but I'm going by the facts/data/activity/sales that I see.

What does this mean for someone wanting to sell a home?
It means that there's a light at the end of the tunnel. If you don't HAVE to sell your home right now, take it off the market to hasten the market's already declining inventory. Give it 6 or 8 months, and conditions will have improved, even if only a little. If you do have to sell your home right away, take heart; there may be relief from the low-ball offers soon as homes are steadily sold or withdrawn from the market. It is possible that in another 12 to 14 months, home prices are back to "normal".
~~~~~~
Assuming that the statistics in the article were correct, I think that we will see a turnaround quicker than we initially expected. This is great news for Floridians and the U.S. in general!




Quote:
Originally Posted by mrcoolmrcool28 View Post
Well, you'll have to get out your crystal ball for this one, but do you think the home prices are going to continue to go down, or have they reached bottom? Do we buy now, or a year from now? We can't move down yet anyway, so we'll be renting it until we do. We're just afraid that by the time we DO get to move, which could be years from now, the prices will have gone back up.
Also, what we like about Port Charlotte is it's close proximity to Punta Gorda, as we like to have a bit of night life as well, and haven't found much in PC. There are some great deals over by Rotunda, but how far is that to Punta Gorda? We don't want to live in the boonies, and we'd like to be on a canal with boat traffic so there's someone else to look at when we're not in our own boat!

Last edited by SoFLGal; 01-10-2009 at 04:01 PM..
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Old 01-11-2009, 01:39 AM
 
Location: sittin happy in the sun :-)
3,638 posts, read 6,506,480 times
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quote by SoFlGAl
If you are looking for night life I don't think Rotonda or SGC would be your cup of tea.

not unless Big House and us are partying !!!!

However very correct it is a fair drive from Rotonda to PG - you have to go right through Port charlotte and is definitely close on 40 mins (we know people in PGI and thats the travel time to their home from ours)
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Old 01-11-2009, 05:44 PM
 
Location: WI
1,133 posts, read 2,761,139 times
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Thanks for the info everyone. I'm meeting with my accountant Tuesday for drinks after work, and I'm going to pick his brain on whether it would be a good time for me to invest my money in a house in Florida or keep sticking it in the stock market!! Should be a no-brainer, right???
I'm holding a second mortgage for the people that bought my business, and have been investing their monthly payment, but I just keep losing it anyway, so I can't help but wonder why I'm still doing that!! But there's tax implications, of course, when they make their final payment in 3 years so....I need professional advice!!
Hope to meet you all someday at Harpoon Harry's!!
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Old 01-12-2009, 05:38 AM
 
Location: Punta Gorda and Maryland
6,103 posts, read 14,072,788 times
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Quote:
Originally Posted by mrcoolmrcool28 View Post
Thanks for the info everyone. I'm meeting with my accountant Tuesday for drinks after work, and I'm going to pick his brain on whether it would be a good time for me to invest my money in a house in Florida or keep sticking it in the stock market!! Should be a no-brainer, right???
I'm holding a second mortgage for the people that bought my business, and have been investing their monthly payment, but I just keep losing it anyway, so I can't help but wonder why I'm still doing that!! But there's tax implications, of course, when they make their final payment in 3 years so....I need professional advice!!
Hope to meet you all someday at Harpoon Harry's!!
Buy low - it wont get much lower than this & low interest rates.
Sell high - well that's tough right now, good for buyers.
Have something useful and tangible. That's what I think.
Lose money in the stock market and have people tell you you didn't, and that it isn't real money - its just paper. Frustrating losing what you worked for.
If you bought during the peak you don't feel good about that right now though, and I'm frustrated for a lot of my friends and the elderly that did as well. But that won't change anything - you need to move on.
I talked with my investment people as well, and they said "do it." I was determined to anyway. LOL
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