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Did you hear?

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Did you hear PUNTA GORDA was ranked #1 as the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they live AND we were the only city listed in top 10 in FL  #lovewherewelive  #garycardillogroup #localagents Read more below from Realtor.com….

Here Are the Most Popular Cities for Homebuyers in 2022—and the Places People Can’t Wait To Leave

By Clare Trapasso

May 3, 2022
The COVID-19 pandemic shook up just about everything—especially where many people live. It caused a mass real estate migration unlike any in recent memory.

Lots of folks traded the cities for suburbs—more space! fewer people!—while others relocated to new, often cheaper, parts of the country. And with the popularity of remote work that allows buyers to live just about anywhere and the growing frustration with record-high home prices, the real estate reshuffle isn’t slowing down anytime soon.

In the first quarter of the year, more than half, 59.7%, of all of the views on the home listings on Realtor.com® came from shoppers based in other metros, according to recent Realtor.com research. That was a 4.6% bump over the same time last year.

Our economics team analyzed the search traffic on Realtor.com to figure out the areas where people wanted to move to—and where they most wanted to leave. We scrutinized the data to determine the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they live. On the other end of the scale, the team also found the metro areas where the highest percentage of locals were looking for homes someplace else.

“The pandemic led many Americans to revisit priorities, preferences, and timelines,” says George Ratiu, manager of economic research for Realtor.com.  “Worries over health, financial pressures, lifestyle, and well-being were channeled into finding a home in a location which offered ample access to the outdoors, better quality of life, and increasingly important, affordable housing.”

As for trends, we found that the ever-elusive quest for affordability is still driving most preferences. Vacation and retirement destinations are especially popular with those browsing real estate listings from other areas. Some shoppers were looking to relocate, especially those who can work remotely. Others were hoping to purchase a second home, and then there were those who just wanted to dream.

Meanwhile, folks in the more expensive cities, colder parts of the country, and college and military towns seem to be looking for exit strategies. Folks in the chilly and pricey Northeast were the most likely to look at homes in other parts of the country. About 37.2% of them viewed properties in different regions. About 26.4% of folks from the Midwest, 25% of those in the West, and just 11.3% of people in the South also searched Realtor.com for residences located elsewhere.

To track the moves, the Realtor.com analysis covered the 300 largest metropolitan areas in the first quarter of 2022. (A metro area encompasses the main city and surrounding towns and smaller urban areas.) We limited the list to just one metro per state to ensure geographic diversity.

OK, let’s start with the most popular list—a tour of the most desired destinations for homebuyers right now!

All Gave Some, Some Gave All

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Some people can visit a cemetery and feel a special bond with loved ones who have passed. Others are terrified at the thought and equate it with the ghoulish night of Halloween, where evil spirits lurk. Then there are others who have turned the page and don’t see any point in visiting loved ones or friends who are no longer with them.
While visiting cemeteries is not something I frequently make a point of doing, when paying my respects to friends or family members I feel I have stepped into a history book of stories and intrigue most books can seldom capture. I feel that certain intimacy in one such cemetery, “Our Lady of the Isle Cemetery,” located on Shelter Island, N.Y. Few places have given me an inner peace than this small cemetery has to offer. Driving up the narrow tree-lined road, you come to an opening in the woods where stories of inventors, political figures, family members, friends, and veterans abound. Many I have known, primarily through my mom and dad, who lie there and are part of that unique history. I have stayed there for hours and relived childhood memories second to none and the people that made it so special. However, when visiting a cemetery of this size, you feel an intimacy or bond with those you have loved, particularly with those who have served.
One of the most memorable walks I’ve taken there has been on Veteran’s Day or Memorial Day, where small flags adorn the entire cemetery like a carpet of spring flowers, commemorating the service of our fallen or deceased veterans. It is inspiring to see just how many people who have had some connection to this quaint island have sacrificed so much for the freedoms we enjoy today. There are World War I and II veterans, those who fought in the Korean and Vietnam wars, and even a dear friend of ours whose son was disarming bombs in Afghanistan ahead of his platoon when he stepped on an IED and sacrificed his life to save the 20 members of his team. We all have stories like this of people we know who “gave all” for their country, and then we have others who “gave all” differently.
One of my first interviewees was Punta Gorda’s first female mayor, Marilyn Smith-Mooney. Formally from Long Island, New York, Marilyn lived a life of accomplishments that would have spanned at least two lifetimes. The first half of her life was in the private sector, focused primarily on architecture, interior design, and ownership and management of a commercial construction corporation. The latter half of her life centered around executive management team positions in human resources and corporate development. She was a pilot and an Amelia Earhart award recipient. She was a graduate of the Advanced Institute for Elected Municipal Officials, Leadership Charlotte, and Local Government Leadership Florida. For eight years, Marilyn served as executive director and vice-chair of the Tetrault Family Foundation. This private non-profit provided $30 million in funding and development of the 27-acre Peace River Botanical & Sculpture Gardens, where breathtaking sculptures from artists worldwide are displayed among specimen floral fauna from the area.
She also obtained her Florida Supreme Court certification as a county mediator, which only scratches the surface of this talented woman’s accomplishments and awards. In 2017 Marilyn was honored with the award from the Punta Gorda Rotary for “Service Above Self,” acknowledging her work for so many non-profits and individuals “needing a caring heart.” However, one award Marilyn was most proud of was being the first recipient of the “Distinguished Civilian Award” from the Military Heritage Museum, which she received in August 2021.
As long as I knew Marilyn, she always had a special place in her heart for the military and those who served our country, and she wanted that history preserved for generations to come. She joined the Military Heritage Museum Board and became its president in 2007, holding the position for more than five years. She stayed on as a board member feeling “new blood, energy and ideas” were needed from leadership, but once again was recruited to serve as its president. Today the Military Heritage Museum is one of the most unique and awe-inspiring tributes to those who played such an essential role in preserving our country’s rich history.
Like many small towns throughout our country, there is a special bond and gratitude you feel when seeing someone who has served their country. Punta Gorda has that bond through the Military Heritage Museum, and the Veteran’s Memorial Wall found in Veteran’s Park within the city. With Memorial Day upon us, most associate it with the start of summer and the activities we’ve waited to enjoy all winter; however, as I’ve grown older, I’ve come to appreciate the service those have made to give us the freedom we have today. There is a military saying I came across, “All gave some, some gave all,” and while that may imply those that haven’t fought in wars “gave some,” Marilyn Smith-Mooney is a perfect example of someone who may not have marched off to war, but to me, she “gave all.” Thankfully, I’m fortunate to have had the opportunity to thank her for her “service” before she passed shortly after receiving her Distinguished Civilian Award from the Military Heritage Museum.
We send our best wishes to all for a happy, healthy, and memorable Memorial Day. To our Veterans, we thank you for your service.
-Gary Cardillo

Real Estate Update-“Nearly half of home buyers pay cash”

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By NANCY J. SEMON STAFF WRITER “Charlotte Sun Newspaper”

Homes sales strong despite holidays
January traditionally is a slower month for real estate sales, and although closed sales were down from December, the market shows no sign of slowing.
“There is a 30-day lag and due to the holidays in December, Realtors were not writing as many contracts; January is even lower than the summer months,” said Sharon Neuhofer, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto, Inc.
She said in some parts of the nation, rising interest rates might be attributed to slowing home sales, but not in our area.
Many buyers in Southwest Florida are paying cash, so the mortgage interest rates do not affect them, she pointed out.
In January, when there were 323 closed sales of single-family homes in Charlotte County, 46.4%, or 150 buyers, paid cash.
Neuhofer said beside January’s traditional slowdown in sales, Realtors “have buyers we don’t have houses for.”
She said current low inventory levels means would-be buyers do not have a lot to choose from, and when they do find a house, often there are multiple parties interested.
“You can’t sell what we don’t have,” she said.
The same scenario held true for townhomes and condominiums. Of the 66 closed sales, 47 buyers paid cash, or 71.2% in January.
But while the median and average sale prices of single- family homes in January was lower than in December, the median and average price of townhomes and condos was higher.
SINGLE-FAMILY HOMES
The median sale price in January was $346,500, compared to $350,000 in December. The average sale price of $407,678 was also lower than December’s $450,671.
For 11 consecutive months, sellers were getting 100% of the original listed price.
The median time to sale was 57 days, and time to contract was 12 days. There were 370 homes in inventory in January, which represented a 0.9 month supply.
The inventory level from a year ago was down 30.8%.
TOWNHOMES AND CONDOS
The median sale price in January stood at $287,000, up from $269,950 in December.
The average sale price was $312,069 versus $296,717 in December.
The median percentage of the original listed price was 100% in January, continuing a nine-month trend.
Inventory stood at a 0.6 month supply, the same as it was in December. The inventory level was down 77.8% from a year ago.
Those wanting to sell should “know what you’re going to buy, or you could wind up homeless,” Neuhofer said.
QUICK SALES
She said with cash buyers coming to buy in Southwest Florida, homes are being bought up quickly.
The median time to contract for single family homes in Charlotte County was 12 days, and the median time to sale was 57 days — under two months.
But in some cases buyers will offer incentives — such as a higher price — if sellers agree to move in 30 days.
The median time to contract for townhomes and condos was similar — 10 days, and 53 days for the median time to sale.
January saw 671 single family homes about to come onto the market in February, and 119 townhomes and condos.

NEW Flood Insurance Info

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The new FEMA flood changes are on everyone’s mind these day, as the increases went into effect on October 1, 2021. Instead of relying on “flood zones” as a determination of your flood exposure, the new system is referred to as “Rating 2.0,” which is a single risk modeling system that takes into consideration area and proximity to harbor, replacement coverage, frame vs. block construction along with slab vs. pilings. Also considered is prior flood loss. Banks may use flood zones, but insurance companies are going by the new rating system. So what does all of this mean you ask? Well, if you have an existing flood policy your flood insurance will increase approximately 18% per year until you reach the figure FEMA has established as the target figure for your property. If you don’t have flood insurance then you will be subject to the new valuations FEMA has established. When buying a home it is important to find out in the beginning of your negotiations if the current seller is carrying flood insurance, as this will impact your investment in the home significantly. To give you a better understanding of the difference in buying a home where the seller is carrying flood insurance verses one where they aren’t, recently we had a buyer purchasing a home on a gulf access canal. They were quoted $6,700.00 to obtain flood insurance for the home. Thankfully, the seller’s insurance carrier said their policy could be assumed, which saved our buyer a significant amount of money as the seller was paying $1,080.00 for flood insurance. It is important to find out up front when negotiating the purchase of a home if the current homeowner is carrying flood insurance and if the policy can be assumed.
Unfortunately, FEMA appears to be taking it out on Florida as Floridians have paid in 4 times the amount of claims that have been made. Where most of the country will see decreases in flood insurance rates, Florida will continue to see increases. Hopefully our state legislators will come up with a solution that will provide a more fair and balanced metric for calculating flood insurance rates.
The second major consideration for buyer and seller is the age of the roof. Many insurance brokers will share with you that in the years after Hurricane Irma struck Florida, there have been a bevy of insurance adjusters advertising and knocking on doors claiming they can get you a new roof. One such insurance broker shared with us that a home qualified for a new roof due to excessive hail damage. Not sure where in our area we had that kind of hail, but this is just one of the many questionable reasons how new roofs have been obtained. In order to protect themselves insurance companies are now putting limits on how long they will cover the roof before requiring a new one to be installed. Shingle roofs will have to be 15 years or newer as there are only 3 companies that will insure up to 20 years. Tile roofs, which most inspectors will tell you can last for 30 years or more, are now going to be required to be replaced after 20 years or perhaps slightly longer. Metal roofs will only be covered for 25-30 years and for older homes with more gradual pitch roofs that require a membrane type covering will now only be covered 10 years or less.
Whether you are the seller or buyer, flood insurance coverage and the age of roof are two major factors that you’ll have to consider when selling or buying a home.
Also, here is a link to find what Flood zone you lay in for Charlotte County: Find My Flood Zone

What questions should I be asking when I am looking to hire a real estate agent?

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If you’re looking to sell your home, you’ll want to hire an amazing listing real estate agent to help—and there are certain questions to ask so that you can pinpoint the right professional for you.
It’s smart to be picky! A great real estate agent can help find buyers to sell your home fast, and for more money. Make the wrong choice, and your listing might languish. Then, the lowballing bargain hunters come circling—it’s not pretty. Here are some questions I recommend you ask:
1. What are your credentials?
2. Do you specialize in this neighborhood?
3. How do you arrive at the listing price?
4. How much will selling my home cost?
5. How will we communicate?
6. How long will the process take?
As always I am here for you and will answer any question you may have to help make the transaction as smooth as possible.
Gary Cardillo
RE/MAX Harbor Realty
941.979.0939
www.flwaterfrontliving.cm

About The Gary Cardillo Group

Gary Cardillo, Realtor 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.
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