The Andreae Group’s Fall Open House Happens this Weekend

October 15th, 2018

This weekend the Andreae Group is hosting three open houses. Whether you’re getting a feel for the market or have been looking for weeks, you won’t want to miss any of them. Scroll down for more about each home.

1241 Canvasback–Located in the bird section of PGI, this 3/2 beautiful home was built in 2000 and has an extra work/craft room for the hobbyist you or the hobbyist in your life. Stop by and say hello between 12 and 3 on Saturday.

1241 Canvasback Ct. in PGI

1918 Los Alamos–Enjoy your 104 feet of waterfront from your living room when you open the zero corner doors. (If you’ve never experienced zero corner sliders, you need to this Saturday.) This home boasts over 2800 sq feet under air with three bedrooms and an office. 

1918 Los Alamos Drive in PGI

2059 Padre Island #4–Looking for a brand, new finished condo in PGI? This is it. Literally. There are only three completed condos  finished in 2018 on the market. They are all in this complex. Stop by and we’ll let you see them all.

2059 Padre Island #4 in PGI

Questions? Please call the Andreae Group office at 941-833-4217 or email us at info@andreaegroup.com.

My Top Two Tips for Catching a Deal in Today’s Real Estate Market

September 24th, 2018

By Adrienne Andreae

The market is good. It’s not 2005 where we saw prices rocket ship up and people fighting over houses. But we do run into the occasional bidding war, average days on the market are down, and sellers expect their homes to sell. Unfortunately, these conditions don’t allow for many steals to hit the market. They do pop up though.

I get calls from buyers all the time asking me how they can get a deal. Are there any deals left? How can we get one? I always give the same two pieces of advice.

Before I get to the advice, let’s discuss what I mean by “deal.” 

A deal is a house that is listed at the low end or slightly under current market value. You can tell a house is a good deal if you’ve been watching the market awhile. Let’s say homes that fit your criteria (i.e., time to open water, size, age, etc.) list between $550-$600k. Suddenly, something fitting your criteria hits the market for $545k. Or something larger or more updated than the homes you’ve been looking at hits the market for $565K. Those are the kind of deals we see these days. 

The view from 3830 Carupano which recently sold in 12 days.

When you see a house that is $100k under market value, there is some piece to its value you’re missing. I’m not picking on you, but I get calls like this often. I can usually break down why the same size house costs so much less in seconds. Maybe it’s seawall is small, its under the flood plain, or its an hour to open water. There are lots of reasons this could be true. The answer is almost never that the seller just doesn’t care about an extra $100k.

Ok, now that we agree on what a deal looks like, how can you get one? Here are my best two pieces of advice:

Tip #1: Be Flexible
You may want a home that is 2400-2600 sq ft., 3/3/3, within 20 minutes to open water, and was built within 5 years. You have the post popular criteria out there. It’s tough to find the perfect home at any price. When you are looking for a deal, it’s likely you will have to bend a little more than you might otherwise. Remember, price is part of your criteria. If you’re willing to renovate at least part of a home or spend a little more time tooling through the canal system, you’re much more likely to find a deal.

Tip #2: Be Ready

Seven years ago, sellers might list low to attract the few serious buyers still lurking around. Now, they do it to sell quickly. Another way to say deal is “priced to sell.” A priced to sell home does not stay on the market long. You will need to move quickly if you want a chance. Being ready means more than feeling ready to buy. It means you have done some of the not-so-fun stuff. You have talked to a bank if you’re getting a loan, whether it’s a loan on the property or a line of credit on your current home. If you’re paying cash, you’ve run the numbers and know what you’re willing to spend. Also, if you end up in a bidding war, the buyer who has a pre-approval or proof of funds ready to go may look like a safer bet for the motivated seller.

25351 Vantage recently sold in 3 days.

Another part of being ready is having a plan in place to get here quickly to see the home. I’ve seen offers come in on homes two or three days after they hit the market. Sometimes it’s luck that you’re in town and the deal hits the market. Sometimes you have to make you’re own luck and get here in a jiffy.

Why Did I Skip the Most Obvious Advice?

You might have expected me to tell you to watch the market closely. In my experience, I don’t have to tell my customers to watch the market. Click on a few real estate sites once and Google will find a way to keep you looking. I will tell you every site is not the same. If you want the most accurate updates on new homes on the market, sign up to get emails from our MLS portal. You can sign up by emailing us at info@andreaegroup.com.

Top Questions Answered: When Is the Best Time to Buy Real Estate in Punta Gorda?

August 15th, 2018

Summer or winter? It’s hard to say in Punta Gorda.

By: Adrienne Andreae

As a buyer’s agent at the Andreae Group, I field this question almost daily. Is it better to buy in the summer or winter in Punta Gorda?

Before I can answer that question, I’d like to dispel the common myth that nobody buys Florida real estate in the summer.

In fact, I have had years where my August sales rivaled my March numbers. Home lookers tend to be more serious in the summer than in the winter. The difference is there are fewer home lookers in the summer. A listing is more likely to rack up it’s days on the market in the summer. Many sellers take this as a sign to wait until January to put their homes on the market. They fear their home will spend all those days on the market will make their home look less desirable in the winter. They’d rather see a steadier stream of showings than the slow drip of summer. Maybe they’re going up north for the winter and would rather button it up than cater to the few showings.

(On a side note, my slowest months tend to be in the fall when people are more in holiday mode than homebuying mode.)

What That Means for You, the Buyer

In summer, you will see fewer houses on the market, but you will also compete with fewer buyers. The seller who puts their house on the market in the summer might need to sell slightly more than the seller who takes theirs off the market. While our current market doesn’t allow for the ‘deals’ of 2011, the summer buyer has a little more pull than the winter buyer.

On the flip side, the winter buyer has more options. I have an email system that will send buyers listings as soon as they hit the market*. In the summer, I get calls asking if it’s broken. It’s not. Depending on how narrow a buyer’s criteria, they could go a week without getting an email from us.

I hate to answer a question with a question, but what would you prefer fewer competitors or fewer homes? If you are really picky and don’t want to change much, you might do better in the winter. But if you’re more flexible you might do great in the summer. Either way, if you’re thinking of buying a home in Punta Gorda, it’s never to early to start watching the market.

 

*If you would like emails updating you as properties hit the MLS, please email us at info@andreaegroup.com. In my experience, the MLS portal is the most accurate way for a buyer to watch the market. All the others, Zillow, Realtor, etc. farm their information off this MLS system. It’s free and there is no obligation–as in, after we set you up on automated system, we will never bother you again unless you contact us.

How’s the Market So Far in 2018?

July 26th, 2018
Available now. Brand new home on the golf course. Call our office for more info. 941-833-4217

Available now. Brand new home on the golf course. Call our office for more info. 941-833-4217

The first half of the year was quite busy in regards to real estate sales in 2018. In the waterfront subdivisions of Punta Gorda Isles and Burnt Store Isles, there were 222 homes closed (sold). That is a great number in comparison to some other years. During the same periods in 2010, 2012, 2016, the number of homes sold were:

2010 – 122
2012 – 170
2014 – 174
2016 – 171

222 homes sold compared to 120-170’s is a big jump. That means more buyers are coming to our area and buying. During that same 6 month period, the average sold prices of homes in PGI/BSI also increased from $467,802 to $497,111. That represents a 5.9% increase in average sold price in a just a 6 month period.

Currently, there are 145 homes for sale in the two communities.

Open House–Friday, Saturday, and Sunday March 3, 4, and 5 2017

February 28th, 2017

Rock Har

Come out and see this beautiful home!

2157 Deborah St, Punta Gorda, FL 33950

Friday, Saturday, and Sunday March 3, 4, and 6 2017

11 a.m.-4 p.m.

You can’t find your dream home if you don’t look! A builder’s model, every detail of the home was built to impress. Come out and see for yourself this weekend.

What’s Happening in Punta Gorda: February and March 2017

February 7th, 2017

Is it February already? It’s hard to tell when it’s 80 degrees every afternoon. It’s officially season and our office has been a busy place this past month.

There is a lot going on in the next couple months, so I will get right to the good stuff.

  • Feb. 11, 8th Annual St. Vincent de Paul Walk for the Poor, Laishley Park. For information contact (941)505-7325. http://www.svdpcharlottefl.org/colony-pt-bridge
  • Feb. 11, Managing Stress with Dr. Demers, the Yoga Sanctuary. For more information contact (941) 505-9642 http://www.theyogasanctuary.biz
  • Feb. 12, Charlotte County Concert Band Concert Series, Charlotte Cultural Center. For information visit www.charlottecountyconcertband.com.
  • Feb. 13, Blanchard House Black History Month Film  and Performance Series, 500 Years Later Mid County Library, 2050 Forrest Nelson Blvd. 5:30 pm Blanchard House Museum For more information call 941-764-5859.
  • Feb. 18, American Heart Association, Charlotte Heart Walk 2017. For information contact (727)563-8083.
  • Feb. 18, Smuggler’s Downtown Hoedown, Marketplace property. For information contact (941)637-5953 or www.smugglersevents.com.
  • Feb. 20, Blanchard House Black History Month Film and Performance Series, Performance by Ray Kamalay, guitarist and storyteller: “The Haitian Revolution and the Rise of American Music” Mid County Library, 2050 Forrest Nelson Blvd. 5:30 pm Blanchard House Museum For more information call 941-764-5859.
  • Feb. 24, 2017, Behind the Notes with Maestro Raffaele Ponti at the Punta Gorda Isles Civic Association, 2001 Shreve Street. For reservations contact (941)205-9743 or www.charlottesymphony.com.
  • Feb. 24-25, Florida Frontier Days, History Park, 501 Shreve Street. For hours and information contact (941)639-6746.
  • Feb. 24-26, Cirque Italia, Downtown Punta Gorda, Marketplace property. For information contact (352)502-3162 or www.cirqueitalia.com.
  • Feb. 25, 7th Annual Punta Gorda Pub Crawl and Food Drive. Downtown Punta Gorda. For tickets and information contact (239)872-1171 or www.puntagordapubcrawl.com.
  • Feb. 27, Blanchard House Black History Month Film  and Performance SeriesThe Legacy of Slavery  Mid County Library, 2050 Forrest Nelson Blvd. 5:30 pm Blanchard House Museum For more information call 941-764-5859.
  • March 3-4, Funk Fest Punta Gorda, Marketplace property, downtown Punta Gorda. For information visit funkfestpuntagorda.com.
  • March 3-5, Peace River Pickler’s Pickleball Tournament, Gilchrist Park Pickleball & Tennis Courts. For information contact (330)812-4500 or http://www.peaceriverpicklers.com/.pickleball
  • March 4, Luna Fest, History Park, 501 Shreve St. For additional information contact (941)637-3830 or peaceriverwildlife.org.
  • March 5, Yoga for Caregivers, the Yoga Sanctuary. For more information contact (941) 505-9642 http://www.theyogasanctuary.biz
  • March 11-12, iHeart Media Seafood Festival, Laishley Park. For hours and information contact (941)815-0324.
  • March 12, Charlotte County Concert Band Concert Series, Charlotte Cultural Center. For information visit charlottecountyconcertband.com.
  • March 17, 2017, Behind the Notes with Maestro Raffaele Ponti at the Punta Gorda Isles Civic Association, 2001 Shreve Street. For reservations contact (941)205-9743 or charlottesymphony.com.
  • March 24-25, Pedal & Play in Paradise Bicycle Event, Laishley Park. For information contact (941)637-8326 or pedalandplayinparadise.com.
  • March 25-26, TNT Arts & Craft Show, Marketplace property. For information contact (352)344-0657 or tnteventsinc.com.
  • March 25, Guns and Hoses 10K & 5K Runs, 1133 Bal Harbor Plaza. For information contact (941)575-7482.
  • March 26, Punta Gorda Rotary Taste of Punta Gorda, Laishley Park. For information contact (941)875-5629

Have fun out there! Follow us on Facebook for more updates on our market and local happenings.

What’s Happening in Punta Gorda in December

December 1st, 2016

By: Adrienne Andreae

There is so much going on in this town. It’s hard to keep up on it all!

That’s what a recent buyer stopped in my office to tell me. When she said it, part of me filled with pride. I love that Punta Gorda is so active. Our town is a place for doers. People come here eager to get out on the water, go out on the town, and meet people.

Another part of me felt a little guilty. I used to be much better at keeping this blog up with all that was going on around town. I’m starting my resolution early this year to keep you updated every month on what’s going on around town.

This month we are celebrating Founder’s Week. For more info on Founder’s Week check out their Facebook page.

December 17: Don't miss the lighted boat parade!

December 17: Don’t miss the lighted boat parade!

  • Thursday, December 1: Luminaria Night at the History Park, 6 p.m. to 8 p.m., Shreve Street. Brought to you by Relay for Life. Celebrate by lighting the night, shopping, and have treats.
  • Thursday, December 1: Isaac Trabue Chess Tournament, Punta Gorda Kiwanis–Taking place all over town. To play or watch: Contact: Michael Haymans, (941) 661-5622.
  •  Thursday, December 1: Week long exhibit (December 1-7, 2016) “Then and Now” Monday through Friday-9 a.m. to 4 p.m.; Saturday, 10 a.m. to 2 p.m.; Where: Visual Arts Center, 210 Maud Street
  • Friday, December 2: Downtown Christmas Celebration Carol Sing & Tree Lighting, 5 pm to 8 pm, corner of W Marion Avenue & Taylor Street. For more information, contact (941)575-3302.
  • Friday, December 2: Annual Holly Days Home Tours, 11 a.m. to 4 p.m. Historic Residential Area.
  • Saturday, December 3: 38th Annual Charlotte County Chamber Christmas Parade, from Charlotte High School to Downtown Punta Gorda. For registration and additional information contact (941)639-2222 or http://www.charlottecountychamber.org/.
  • Saturday, December 3:  Christmas Tree Yarn Bomb at the Farmer’s Market, 8 a.m. to noon, Olympia and Taylor, Trees at Hector Square decorated with colorful yarn.
  • Saturday, December 3: Celebrate the Holidays with Bella and Luna, 11 a.m. to 4 p.m., at the Peace River Wildlife Center, Ponce de Leon Park
  • Saturday, December 3: Down the Street Happy Hour, 4 p.m. to 8 p.m. at New Operation Cooper Street, 650 Mary St.
  • Saturday, December 3: Founders’ Day Southern Supper, 5 to 11 p.m., Hurricane Charley’s, 300 W. Retta Esplanade
  • Sunday, December 4: Latino Christmas at Cilantro’s Restaurant, 2705 Tamiami Trail. For additional information contact (941)621-4612 or cilantrosrestaurant39@gmail.com.
  • Sunday, December 4: Dare to Dream, an Afternoon with Amelia Earhart” 1 p.m. to 4 p.m., Punta Gorda Woman’s Club, 118 Sullivan St.
  • Monday, December 5: Historic Trolley Tours and History Celebration from 3 p.m. to 4 p.m. Tours start at Kays Ponger & Uselton, 635 E. Marion Ave.
  • Monday, December 5: Historic Punta Gorda City Hall Tours, 4 p.m. and 5 p.m. City Hall, 326 W. Marion Ave.
  •  Monday, December 5: Freeman House Tours, 3 p.m. to 4:30 p.m., Tour historic Freeman House with docents.
  • Tuesday, December 6:  Historic Walking Tours of Indian Springs Cemetery, from 10 a.m. to 2 p.m., 9500 Indian Springs Rd. Contact: 941-629-7278
  • Tuesday, December 6: Raise the Roof for the Trabue House, 7 a.m. to 11 a.m., Punta Gorda History Park, 501 Shreve St. Suggested donation $10. Proceeds help the Homeless Coalition and roof repairs on the Trabue house.
  • Tuesday, December 6: Founders Mural Tour, 10 a.m. to 11 a.m., Meet at Herald Court Parking Garage Breezeway. Suggested donation $10. Contact: Kelly Gaylord 941-979-2786
  • Wednesday, December 7: Old Time BBQ & Historical Poker Run, 5 p.m. to 6:30 p.m., starts at Charlotte Community Foundation, 227 Sullivan Street, To register: http://www.teampuntagorda.org/wp-content/uploads/2016/09/Poker-Run-Registration.pdf
  • Wednesday, December 7: 1st Annual Holiday Grub Crawl 5:00-9:00 pm, Downtown Punta Gorda, Tickets are $20 and benefit the Charlotte Symphony Orchestra. Call 941-205-9743 for tickets and info.
  • Wednesday, December 7: Final Isaac Trabue Chess Tournament – 6:00 pm to 10:00 pm, Top of the Herald Court Parking Garage. Punta Gorda Kiwanis sponsors final of tournament with giant chess pieces. Contact: Mike Haymans (941) 661-5622
  • December 14: Ugly Sweater Run, 5:30-8:00 pm., 1-3 mile Walk or Run, Call 941 347-7751
  • December 15: Alive After Five, (Formerly known as the Gallery Walk), Downtown. A great way to taste test local fair and shop as you go! For more info click here.
  • December 16: Third Friday Drive in: This month’s movie is Elf. It starts at 7:30 pm. Check their Facebook page for occasional last minute changes due to weather.
  • December 17: Punta Gorda lighted Boat Parade, begins at sunset
  • December 22: P. Tchaikovsky The Nutcracker (Ballet in 2 acts with an Epilogue) Where: the Event Center  Who: The State Ballet Theatre of Russia 7:00 pm, Call 941-833-5444
  • December 24: Deep Creek Community Church Christmas Eve Services in Laishley Park. For hours and additional information contact (941)235-7325 or office@dc3.tv.

That list should get all of you looking to get out started! As I learn of more events, I try to keep you updated on our Facebook page. If you’re a local hosting an event in January, please email me the info at Adrienne@andreaegroup.com.

 

 

 

 

The Do’s and Don’ts of Using Zillow to Find Your Florida Dream Home

September 21st, 2016
This could be your winter.

This could be your winter.

By: Adrienne Andreae

It’s going to start snowing again soon. You might be wallowing in fall colors now, but they won’t last. You take to your computer determined to escape before the first flake falls.

While you may not know exactly where in Florida you want to go, you know you’re ready for the Sunshine State. You type in Florida real estate and Zillow, Trulia, Realtor.com, or Homes.com comes up. It doesn’t matter which one. This advice will work for all of them.

Before I get to my tips, I’ll admit: many realtors hate these sites. You can find countless realtor blog posts lamenting the hazards of using Zillow. I have my moments with Zillow and its competitors, but I also see why many of my customers start on them. My hope is this post will help you understand when these sites will help you as a customer and when they lose their value.

Do Use Zillow: When All You Know is You Want Sunshine.

You’re starting with a wide search radius. You want to go south. Your priority is to end the snow in your life. Maybe you’ve been renting a beach condo in Destin for ten years. You love it there, but you want to explore all your options. Maybe you haven’t been to Florida since you took the kids to Disneyworld in 1997. Maybe you’re even looking at Arizona and haven’t decided on a state yet.

Zillow and Realtor.com are fine sites for you. You can get started and see what areas fit your price range.

Don’t Use Zillow: When You Know What You Want Out of Retirement

You’ve waited thirty years to live near the beach or the golf course or, like many of my customers, to have your boat in your backyard. Zillow won’t tell you that Punta Gorda is consistently rated one of the best small boating towns in Florida. You may have to Google and ask your boating friends. You may have to play around on boating websites or read about us in boating magazines. You’re better off doing the research on areas that you allow you to successfully live your dream. Most realtor websites will let you check listings, and you will find them more accurate than Zillow.

Zillow can't tell you which dock fits your boat best.

Zillow can’t tell you which dock fits your boat best.

Do Use Zillow When You’re Just Curious

Want to know if it’s possible to find any house in Punta Gorda Isles under $300,000? You’re not looking to buy. You just want to know, like you might want to know what $1 million dollars gets in Boston versus Tampa. Zillow is a great distraction and fun site to poke around.

Don’t Use Zillow For Market Research

Zillow farms off the MLS. Therefore, it is often not current. Realtors may change a status in the MLS and sometimes Zillow and Realtor.com miss the update. I have gotten calls about foreclosures that happened years ago. Even in Zillow’s own Advice section, I found questions from homeowners looking to take the home they bought a year ago off Zillow. If you’re really looking for property, call a real estate agent or at least, use a realtor’s site.

There are countless stories of the Zestimate’s inaccuracy. I won’t get to into it here. I tried to figure out how they get their numbers, but I know too much about the Punta Gorda market. They make no sense.

(My favorite story about the Zestimates is the one about the CEO of Zillow sold his home at 60% of the Zestimate.)

Do Use Zillow: If you’re more than 3 years from retirement

You’re sitting at your desk right now dreaming of boating. I’m sorry. I did that to you with the picture above and now you’re wishing you could retire tomorrow. But the kids are small or in college and you know you’re ten years away, at least. You go on Zillow to play around, daydream, and find out what penthouses in New York cost. This is normal. Zillow can be fun.

Don’t Use Zillow: If you’re within 3 years of retirement

You’re close. You may not know what city you want, but you do know you prefer west coast Florida over east coast. You want water in your backyard and sunshine. As you narrow down your scope and retirement gets closer, you should start contacting realtors. You may think four years is a long way out, but this is when you can start paying attention to the markets in the areas you’re interested in. Believe it or not, I’ve had customers call me ten years from retirement. This is a little far out, but it takes nothing for me to add them to my email list. You can start watching the market at anytime.

In Punta Gorda, where the rental market is fantastic, I have many buyers who start to see changes in the market and decide to buy now, rent the home out for a few years and then retire in it. You can only do that if you’re paying attention to good information.

Don’t Fall in Love with a Home on Zillow Before Talking to a Realtor

My final piece of advice is to resist falling madly in love with that great deal you found on Zillow. That house may be the deal Zillow presents  or it may have sold six months ago or have issues Zillow can’t know about. It happens often that a new customer calls me excited about the home they’re going to buy and I know immediately it is not what they think. I’d rather walk you through the process than be the one to tell you your dream is not what you see on the internet.

Have you used Zillow? Is it time to reach out to a realtor? We’d love to hear from you. You can call us at 941-833-4217 or email us at info@andreaegroup.com.

3 Things You Must Know When Buying A Condo in
Punta Gorda

August 2nd, 2016
Sailboats docked at the Villas at Cedar Key

Sailboats docked at the Villas at Cedar Key

By: Adrienne Andreae

You’ve been taken care of houses for 20+ years. You’re tired. You want someone else to cut the lawn and maintain the pool.

Downsizing to a Punta Gorda condo could be the perfect solution. After so many years of homeownership, you may wonder what are the main differences in buying a condo vs. a home. I’m going to give you the basics about condo buying in a minute, but first let’s discuss the differences between a condo, a villa, and a townhome.

What’s the difference between a condo, a townhome, and a villa?

It’s my understanding that some parts of the country use these words differently. We’re talking Punta Gorda here, so I’m going to tell you what these words mean in these parts. A condo is in a multi-level complex. We don’t allow highrises to ruin are quaintness or cause traffic jams, so the highest living space you’ll see is three floors. (There is one exception to that rule. That’s another story for another post.)

Condo owners usually pay $350 per month in fees on the low side and $550 on the high end. Although, we do have a few complexes that go higher and lower in the area.

We tend to use the word villa more than we use townhome although they’re similar. A villa falls somewhere in between a single family home and a condo. You don’t have anyone above or below you. Sometimes they have two floors within the unit, but most are one. You will share at least one side with another villa. Villas have an association that takes care of the grounds and usually the outer shell of the building.

Villa fees in our area usually range between $500-650 per month.

1 Colony Pt, Vivante and Solamar complexes

1 Colony Pt, Vivante and Solamar complexes

When it comes time to purchase a condo, villa or a townhome, the transaction is very similar. Here are some basics you need to know:

Association Matters

Every association runs differently. You want an association that thinks like you do. Often I know the history of a complex or it’s reputation and I’m happy to pass any information I have on. However, the best way to learn about the association, bar going to a meeting, is to read their most current condo documents. When you put an offer on a condo, we attach a condo rider. This rider requests the listing agent give you the most current condo docs. I keep using the word ‘current’, because sometimes you’ll find these documents attached to the MLS or online. The seller pays for the most current and usually only buys them after an offer is put on the unit.

After you receive the documents, you have 3 days to back out of the contract if you don’t like what you read.

Check the Financials

Along with the condo docs, you’ll receive the financials. If a complex doesn’t keep reserves, a bank won’t give you a loan. Paying cash? You still have problems without reserves. What if the roof leaks? You and your neighbors will have to get together to fix it. The bank doesn’t give loans on these complexes, because they’re so risky. When you go to sell, you’ve cut out a fair amount of buyers.

So, how much should a complex have in reserves? That’s hard to say. Reserves are like savings accounts. Some people like to be safe and keep a lot of money in them. They will raise fees over spending money from the reserves. Some associations lean towards spending. Older complexes tend to have more in reserves, because they’ve had time to build them up. Of course, their structures are older, so you could argue they need more.

Fannie Mae likes to see a certain amount of the fees being put into reserves every year. Some complexes have great reserves and stop paying into them, like you might with a savings account. Because of this, I highly recommend using someone local for your loan. They are more likely to do the research early and find loan products that will work for you. (If you need help with this, call me. I know some great lenders.)

All Condos within a Complex are Not the Same

Customers often ask me why a condo is priced so much higher or lower than the last one sold in the complex. First, it’s likely they have two different sellers. It is also likely that although they may have the same floor plans many factors go into the price of the condo.

Obviously, a differences in views or upgrades cause price differences. What you may not realize is in some complexes some condos have deeded docks and some do not. A deeded dock can add $30k-$50k on to the price of a unit.

Have more questions about buying condos? We have answers. Please email us at info@andreaegroup.com or give us a call at 941-833-4217.

Tarpon Cove condos (orange-ish roofs in the foreground) have private elevators and many have docks

Tarpon Cove condos (orange-ish roofs in the foreground) have private elevators and many have docks

 

 

 

Punta Gorda Real Estate Market Update: An In-Depth Look at Inventory Levels

October 8th, 2015

by Luke Andreae

The past 18 months has seen a significant increase in the number of real estate transactions within the

PGI/BSI subdivisions. In a nutshell – the buyers are back. The increased demand has put pressure on inventory levels. Even as sellers continue to decide to sell their homes for a myriad of reasons, the inventory of Homes For Sale has continued to drop. Below are cumulative totals of existing homes for sale.

PGI/BSI Total # of Homes For Sale:

December 2004 – 69

Buyers are back. It's easy to see why they're coming to Punta Gorda.

Buyers are back. It’s easy to see why they’re coming to Punta Gorda.

December 2005 – 303

December 2006 – 339

December 2007 – 324

December 2008 – 282

December 2009 – 231

December 2010 – 275

December 2011 – 285

December 2012 – 225

December 2013 – 237

December 2014 – 185

October 2015 – 123

 

“Season” usually starts in late October / early November. Inventory of homes for sale going into this season will be the lowest since 2004.

For a look at all the Homes For Sale on a map, check out our Maps page.