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Buying a Home? 4 Signs It’s Time to Call An Agent

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While house hunting TV shows tour the neighborhood, close the deal and throw a housewarming party in 30 minutes, real life is not as streamlined. If you’re in the process of buying a home, here are signs it’s time to call a Realtor®.

1. You believe everything on the internet
While you can view tons of listings online, not all of the information is accurate or up-to-date. You’ll see outdated comps, conflicting forecasts and different ratings. With access to the MLS and insight on properties about to hit the market, a Realtor will make sure you’re considering all of the homes in your marketplace that fit your criteria.

2. You’re juggling a hectic schedule
You don’t need to spend time sorting through listings and contacting sellers. An agent will do the browsing so you only visit the homes that best fit your needs and price range.

3. The biggest thing you’ve negotiated lately was your kids’ bedtime (and you lost)
As professional negotiators with years of experience, Realtors know how to create, present and negotiate the best offer. Remember, you’ll be going up against another professional negotiator: the seller’s agent.

4. You don’t know if a neighborhood is on the way up or down
An agent who knows the neighborhood can give you the scoop about local developments and changes that don’t always pop up in a Google search. He or she will also put them in context of larger market forces that could impact the future value of a home.

If you’re looking for an experienced professional to guide you through the home buying process, contact me today. I’d be happy to help you find your next home!

Gary Cardillo
​Re/Max Harbor Realty​​​

941-916-0939
info@flwaterfrontliving.com

Source: Bb.remax.com

July 2018: Housing Recap

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As we closed out the first half of the year, the number of single family home sales in Charlotte County was slightly lower than for the same time period last year however, home prices rose 8.6% to an average of $270,500. During the same time period condominium sales increased 10% with the average sale price of $224,700, or an 8.7% increase over the previous year.

Waterfront properties compared to last year in Punta Gorda Isles and Burnt Store Isles, had a 17% increase in single family home sales averaging a 9.2% increase over last year with the average home selling for $505,300. Waterfront condominium sales were even for this time period last year with the average selling price of $256,280 showed 3.7% increase. Selling price to list price ratios average 96%, indicating sellers were pricing their homes aggressively.
In Sarasota County, single-family home sales were slightly lower, however, the average selling price of a home increased 8.9% to $395,880. Conversely, condominium sales increased by almost 10% resulting in an average purchase price of $460,150 for a 15.7% increase.
The Sarasota waterfront, particularly the downtown Sarasota and Longboat Key areas, have the greatest bearing on sales averages throughout the county. Single family waterfront home sales increased 12.5% averaging almost $1,530,200which was a 7.8% increase over the previous year. Condominiums sales also increased by 12% however, while the average sale price was approximately .5% lower, the average sale price of $748,800 is still very impressive. Even in this price range; the selling price to list price ratios averaged 93% for single family homes and 95% for condominiums, clearly indicating buyers were receptive to the list pricing.
And as always, please feel free to reach out with any questions your may have! –Gary

October Real Estate Activity

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October did not disappoint as real estate sales indicate a healthy, thriving market. Are you thinking about putting your home on the market this season? Let us help you get the price you want for it. Here we look at Charlotte County as a whole, along with Venice and Sarasota sales in October 2015 compared to October 2015.

Charlotte County single family home sales

2014 2015
Total Homes Sold 370 388
Average Sq. Ft. 1,697 1,738
Days on Market 90 71
Selling Price $181,412 $201,592
Sales Price to List Price Ratio 95% 97%

Charlotte County condo, villa and townhome sales

2014 2015
Total Condos Sold 74 75
Average Sq. Ft. 1,321 1,232
Days on Market 105 77
Selling Price $164,497 $150,497
Sales Price to List Price Ratio 94% 95%

Punta Gorda Isles and Burnt Store Isles single family home sales

2014 2015
Total Homes Sold 29 21
Average Sq. Ft. 2,256 2,007
Days on Market 144 123
Selling Price $420,484 $389,400
Sales Price to List Price Ratio 95% 96%

Punta Gorda Isles and Burnt Store Isles condo, villa and townhome sales

2014 2015
Total Condos Sold 13 18
Average Sq. Ft. 1,656 1,630
Days on Market 86 52
Selling Price $216,640 $234,572
Sales Price to List Price Ratio 94% 97%

Venice Area single family home sales

2014 2015
Total Homes Sold 143 127
Average Square Feet 1,737 1,794
Days on Market 68 58
Selling Price $227,845 $263,230
Sales Price to List Price Ratio 96% 98%

Venice Area condo/townhome/villa sales

2014 2015
Total Homes Sold 66 60
Average Square Feet 1,259 1,344
Days on Market 78 72
Selling Price $173,979 $226,685
Sales Price to List Price Ratio 96% 96%

Sarasota single family home sales

2014 2015
Total Homes Sold 513 429
Average Square Feet 2,021 2,042
Days on Market 73 73
Selling Price $381,624 $380,746
Sales Price to List Price Ratio 97% 97%

Sarasota condo sales

2014 2015
Total Homes Sold 282 284
Average Square Feet 1,406 1,301
Days on Market 85 73
Selling Price $309,110 $252,863
Sales Price to List Price Ratio 96% 96%

Real Estate Sales Are Steadily Climbing

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The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels.
The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels.

A look at January-September sales in 2014 compared to January-September sales in 2015 shows an increase all around.

Here we take a look at sales of homes, condos and lots in Charlotte County as a whole, as well as Punta Gorda Isles and Burnt Store Isles sales.

Charlotte County single family home sales

2014 2015
Total Homes Sold 3,194 3,579
Average Sq. Ft. 1,735 1,767
Days on Market 96 82
Selling Price $181,959 $204,432
Sales Price to List Price Ratio 95% 96%

Charlotte County condo sales

2014 2015
Total Condos Sold 804 848
Average Sq. Ft. 1,320 1,306
Days on Market 114 114
Selling Price $155,518 $183,407
Sales Price to List Price Ratio 94% 95%

Charlotte County lot sales

2014 2015
Total Lots Sold 4,970 5,000
Days on Market 222 216
Selling Price $90,474 $94,421
Sales Price to List Price Ratio 94% 95%

Punta Gorda Isles and Burnt Store Isles single family home sales

2014 2015
Total Homes Sold 242 272
Average Sq. Ft. 2,204 2,284
Days on Market 112 117
Selling Price $378,246 $437,751
Sales Price to List Price Ratio 95% 95%

Punta Gorda Isles and Burnt Store Isles condo sales

2014 2015
Total Condos Sold 176 183
Average Sq. Ft. 1,543 1,598
Days on Market 100 104
Selling Price $187,023 $218,112
Sales Price to List Price Ratio 95% 95%

Punta Gorda Isles and Burnt Store Isles lot sales

2014 2015
Total Lots Sold 83 85
Days on Market 398 427
Selling Price $151,923 $170,841
Sales Price to List Price Ratio 91% 91%

The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels. Generally speaking, sellers are pricing their homes more aggressively as the days of marking a property up to provide more negotiating room are gone. Buyers want to know they are getting a fair price and the result is you are seeing selling price to list price ratios in the mid to upper 90% levels.

With the outlook of prices rising, low inventory levels and the strong possibility of interest rates increasing, no longer is the real estate market a seasonal endeavor. Buyers are now in the market on a year round basis willing to hop on a plane when they see a property that is of strong interest. While September and most of October are typically the slowest selling times of the year, this window is continuing to shrink as buyers and sellers are no longer waiting for the new season to approach with the thought more properties will come on the market to choose from. While more inventory is sure to come on the market, higher list prices are sure to accompany them.

After a few years of unusually frigid conditions up north, there is a much greater number of people now looking to the year round warmer climates to call home, and with that comes a stronger demand on the lower inventory of homes. Buyers are now realizing this, and are coming back much earlier each year out of fear their “dream home” will no longer be available if they wait as they are seeing homes selling at a much faster rate than in years past.

Is the Real Estate Market and Economy Back on Solid Ground?

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It would be hard to argue that with recent new highs in the stock market and increased sales in the real estate market, our national and local economies may finally have turned the corner and brighter days are now upon us.

All indicators seem to indicate that while growth has been slow and the Euro still is in somewhat of a precarious state, the U.S. stock market appears to be taking all the warning signals in stride.  Seen as an “emotional” barometer of many investors, Wall Street seems to feel China’s government support of their ailing housing market, the strengthening economies of many European nations, and the infusion of federal monies in our own housing market are buoying investor sentiment.  Coupled with higher corporate profits and home sales up 10% from 2006 levels, the economy both on a national and local level appears to be more on solid footing.

Fort Myers, Florida reported a 28% increase in home prices from 2011 to 2012 and commercial vacancies decreased from 18% to 8%, a clear indicator that both the residential and commercial markets appear to be gaining traction.

With the automatic budget cuts that went into effect on March 1, 2013 that had politicians and investors alike anticipating a financial “Armageddon,” due to job losses incurred from the loss of federal funding and economic stimulus programs, the economic forecast continues to be optimistic.

Fears the real estate market could be compromised as the fed would start to pull some of the money back that has been infused into the economy leading to higher interest rates, Fed Chairman Bernanke indicated interest rates are going to continue to remain low so as not to depress an industry struggling to regain its strength.  With job growth forecast to strengthen in 2013 and 2014, it appears the U.S. economy is more resilient than one may expect and that the financial troubles plaguing the European markets together with our own high unemployment rates may be less concerning to many investors, who are more focused on the potential of a leaner and more competitive U.S. economy full of investment opportunities.

About The Gary Cardillo Group

While most people would like to talk about themselves, Gary and Gail have always put their clients first, and their diverse backgrounds have provided their clients an unparalleled level of service and knowledge throughout the past years. » More

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