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Sun Realty 
  941-916-1266
 Contact us when you are ready - info@wesellportcharlotterealestate.com
 

  
Port Charlotte was named —Best Place to Retire by MONEY magazine in 2009



Fla. real estate rebound strongest in nation

 

MCLEAN, Va. – Sept. 25, 2015 – Freddie Mac's latest Multi-Indicator Market Index (MiMi) finds that the Florida real estate market's rebound leads the nation. In a city-by-city comparison, Orlando leads the nation in both a month-to-month and year-to-year comparison, and only one non-Florida city makes the top five list for either timeframe.

Florida comparisons

Month-over-month, Florida's index score rose 2.0 percent. It was followed by Colorado (+1.99%), New Jersey (+1.83%), Connecticut (+1.80%) and Nevada (+1.48%).

Year-over-year, Florida's index grew by 14.35 percent. It was followed by Oregon (+13.45%), Nevada (12.18%), Colorado (+11.65%), and Washington (+10.18%).

Florida metro comparisons

Orlando topped all city lists from Freddie Mac. Month-to-month, Orlando improved 2.6 percent, followed by Greenville, S.C. (+2.55%), Cape Coral (+2.51%), Tampa (+2.19%) and Jacksonville (+2.12%).

Year-to-year, Orlando improved 18.27 percent, followed by Cape Coral (+17.75%), Tampa (+15.99%), Palm Bay (+14.98%) and North Port (+14.77%).

"Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound," says Freddie Mac Deputy Chief Economist Len Kiefer. "Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year."

U.S. numbers

Nationally, Freddie Mac added one more name to its list of slowly stabilizing markets: Rhode Island. It also added four cities: Philadelphia and Harrisburg, Pennsylvania; Phoenix, Arizona; and Albany, New York.

The national MiMi value stands at 81, indicating a housing market that is on its outer range of stable housing activity. The number improved 0.93 percent month-to-month and 6.17 percent year-to-year. Since it's all-time low in October 2010, the MiMi has improved 37%.

© 2015 Florida Realtors®

 

Fla. foreclosures up in July after 10-month decline

 

IRVINE, Calif. – Aug. 20, 2015 – Florida retains its dubious distinction of being No. 1 in the nation for foreclosure rates. RealtyTrac's July 2015 U.S. Foreclosure Market Report finds that foreclosure starts – homeowners receiving their first notice – in Florida climbed 16 percent in July after dropping for 10 consecutive months.

Florida has now been the top state for foreclosures for five months, thanks, in part, to the number of new starts in July. One in every 408 Florida housing units had a foreclosure filing in July – more than 2.5 times the national average.

While Florida is one of only a handful of states to see foreclosure starts increase, however it ranked fifth behind Massachusetts (up 130 percent), New Jersey (up 76 percent), Missouri (up 72 percent) and Wisconsin (up 27 percent).

Eight Florida metros were in July's top 10 for foreclosure rates – homes in some phase of the process: Jacksonville (one in every 310 housing units with a foreclosure filing), Miami (one in every 339 housing units), Lakeland-Winter Haven (one in every 349 housing units), Deltona-Daytona Beach-Ormond (one in every 358 housing units), Tampa (one in every 375 housing units), Port St. Lucie (one in every 410 housing units), Orlando (one in every 433 housing units) and Palm Bay-Melbourne-Titusville (one in every 437 housing units).

When RealtyTrac narrowed the metro study down to the nation's 20 largest metro areas, Miami posted the highest foreclosure rate, followed by Tampa, Baltimore, Chicago and Philadelphia.

"The remnants of our South Florida distressed market are seen in the strong REO numbers – double what they were last year," says Mike Pappas, CEO and president of the Keyes Company covering the South Florida market. "The short sales have basically been eliminated and our long judicial system is finally clearing out the last vestiges of these REO properties."

U.S. foreclosure numbers

Nationwide, RealtyTrac found 124,910 U.S. properties with foreclosure filings – default notices, scheduled auctions and bank repossessions – up 7 percent from the previous month and up 14 percent year-to-year. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases.

"The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, which in July reached the highest level since January 2013," says Daren Blomquist, vice president at RealtyTrac.

"Meanwhile (U.S.) foreclosure starts in July were at the lowest level since November 2005 – a nearly 10-year low that demonstrates the recent rise in bank repossessions represents banks flushing out old distress rather than new distress being pushed into the pipeline.

Blomquist says its clear older distressed properties are being cleared out because the process took an average of 629 days in the second quarter – the "longest in any quarter since we began tracking in … 2007," Blomquist says. "It's also evident that the recent surge in REOs is, in fact, clearing out more of the bad bubble-era loans from the so-called shadow inventory."

According to RealtyTrac, 61 percent of loans still in the foreclosure process were originated during the housing bubble years of 2004 to 2008, down from 68 percent last year and 75 percent two years ago."

© 2015 Florida Realtors®  



Fla.’s single-family home sales rose 21.8% in July

 

ORLANDO, Fla. – Aug. 20, 2015 – Florida's housing market had more closed sales, higher median prices, more pending sales and a tighter inventory in July, according to the latest housing data released by Florida Realtors®. Closed sales of existing single-family homes statewide totaled 26,916 last month, up 21.8 percent over July 2014.

"Homebuyers and sellers are benefiting from the positive momentum of Florida's housing market," says 2015 Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. "July's completed or closed sales for single-family homes and townhouse-condo properties both showed double-digit gains over the previous year. Meanwhile median prices keep steadily rising: July marked the 44th consecutive month that median sales prices increased year-over-year for both single-family homes and townhouse-condo properties.

Statewide, new pending sales for single-family homes in July rose 6.5 percent year-over-year, while new townhouse-condo pending sales rose 3.8 percent."

The statewide median sales price for single-family existing homes last month was $199,900, up 8.1 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in July was $150,000, up 9.1 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors (NAR), the national median sales price for existing single-family homes in June 2015 was $237,700, up 6.6 percent from the previous year; the national median existing condo price was $226,500. In California, the statewide median sales price for single-family existing homes in June was $489,560; in Massachusetts, it was $364,900; in Maryland, it was $281,031; and in New York, it was $237,301.

Looking at Florida's townhouse-condo market, statewide closed sales rose last month with a total of 10,235, up 13.9 percent compared to July 2014.

The closed sales data reflected fewer short sales in July: Short sales for townhouse-condo properties declined 39.3 percent while short sales for single-family homes dropped 31.2 percent. Closed sales typically occur 30 to 90 days after sales contracts are written.

"The Florida real estate market continues to boom along, fueled by job growth, immigration and fear of higher interest rates," says Florida Realtors Chief Economist Dr. John Tuccillo. "Tight inventories are beginning to get worrisome, even in price tiers where they had not been a problem. But we're not in any great danger of a runaway market because mortgages are still difficult to get for most households, keeping demand down."

Inventory continues to tighten, with a 4.5-months' supply in July for single-family homes and a 5.3-months' supply for townhouse-condo properties. Most analysts consider a 6-month supply of inventory as the benchmark for a balanced market between buyers and sellers.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.05 percent in July 2015, down from the 4.13 percent average recorded during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Media Center under Latest Releases, or download the July 2015 data report PDFs under Market Data on Florida Realtors website. Association members also have access to local market data (password required) on the website.  



 

 Port Charlotte is centrally located between Fort Myers and Sarasota. Major airports, RSW and SRQ, are within a one hour drive. You can find affordable waterfront property in Charlotte County. Enjoy the beauty of Charlotte Harbor.

Southwest Florida offers some of the best beaches, not only located in Florida, but throughout the U.S.  and ranked among the Top 10 beaches in the United States by a poll taken by National Geographic Traveler magazine and Yahoo! Travel.          

 

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 Southwest Florida, Charlotte Harbor and Gulf Islands Ranked Best

 Discover why Port Charlotte, Punta Gorda, Englewood are among Florida's most desireable communities. Named as best places to live, best place to retire, best golf, best sailing, the list of accolades goes on and on.

 U.S. News & World Report rates Punta Gorda Florida as - 2008  Best Healthy Places to Retire: Punta Gorda, Florida

CNN Money Magazine, Forbes, MSN, Sperling's Best Places, SAIL Magazine, Golf Digest, Florida Trend, Milken Institute, Men's Journal, Inc. Magazine, Business Development Outlook Magazine, Bizjournals.com
America's Best Places to Live - Best Small Town - Best Boating 10 Greatest Places to Sail -  Best Golf - Best Small Places For Business in 2006 - Best Performing Cities 2005 - Small Town Gem in Florida

Punta Gorda FL does it again! 2/2007 Ranked
#2 America's 10 hottest retirement areas
2009 - Port Charlotte rated by CNN/Money Best Places to Retire 



 

  • Charlotte Harbor & the Gulf Islands has been named to SAIL magazine’s —10 Greatest Places to Sail in the United States.
  •  Ranked by Golf Digest as —Third Best Place to Live and Play Golf in America,” and Rated by MONEY magazine as one of the —Best Places to Live in the South.”
  • Port Charlotte was named —Best Place to Retire” by MONEY magazine in 2009
  • Punta Gorda was named in 2008 as one of —Top Ten Places to Retire Healthy” by U.S. News & World Report.
  •  Englewood, Florida was named as #2 of the Top Ten travel destinations in the U.S. by TripAdvisor.com. 

 

 
                                                                 

 

                                                        

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    FlorenceTanner, REALTOR® 
    Sun Realty 
      941-916-1266
     Contact us when you are ready - info@wesellportcharlotterealestate.com
     

      The #1 source for Port Charlotte Florida real estate information. We have years of knowledge and experience in assisting buyers and sellers of Port Charlotte waterfront real estate. 


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