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You are here: Home / Archives for charlotte county

NEW Flood Insurance Info

November 30, 2021 by Gary Cardillo

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

Filed Under: Buying Real Estate, Selling Real Estate Tagged With: charlotte county, flood zone, gary cardillo, real estate, risk 2.0, updated flood insurance

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

October 25, 2021 by Gary Cardillo

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

Filed Under: Selling Real Estate Tagged With: charlotte county, florida, gary cardillo, move to punta gorda, moving, newsletter, real estate, waterfront realtor

A Summer Full of Surprises

August 20, 2021 by Gary Cardillo

Over the past few years, the term “Staycation” has been used more frequently by people who most often didn’t have the time to get away for the traditional vacation. The thought was, “If we can’t get away, what things can we do within our community or at least within relatively close proximity that will give us the feeling we were on vacation?” After all, we do take what we have locally many times for granted. With our son and daughter in law having recently moved to Colorado to pursue furthering their medical careers, we thought we’d visit them for a few weeks after they were settled, then enjoy some time back home on eastern Long Island, NY where we could enjoy the last few weeks of summer visiting those charming farm stands, vineyards and historic waterfront towns. However, with more and more people coming to Florida this summer looking to relocate permanently, our mini-vacations seem to be in a holding pattern, and those opportunities to make lasting memories seem to be slipping away, or are they?

Like many, we were becoming creatures of habit in our community. We were always going to the same places to eat or getting in the car for an impromptu drive yet always finding ourselves winding up in the same place. I thought, “Why are we always hearing about the fun adventures everyone else is going on, yet we find ourselves tied to the computer or phone and only giving ourselves permission to steal just a few brief moments for ourselves?” Last month I mentioned how my wife Gail signed us up for a golf membership to force me to take a break and it has been a gift that keeps on giving. Unfortunately, while I’ve always heard practice makes perfect, I seem to be defying that logic. Those who bought homes along the golf course thinking they were going to enjoy those beautiful vistas are now running for their lives as I seemed to have purchased a box of golf balls that have a magnetic pull toward single-family homes. I’m even seeing less wildlife along the golf course as the word must have gotten out that I am out on the course! As frustrating as my game has been, I am constantly reminded of the words long-time friend, and nationally recognized golf professional Bob DeStefano, shared with us when we were in Junior Golf. He said, “The difference between adults and children, when asked how they played, an adult will complain about all the poor shots they made while a child may have had the same number of poor shots, but they will tell you about the good one they had.” So it is in pursuit of my one good shot that keeps me coming back for more. I don’t think that makes me a glutton for punishment, does it? The club has also been great to meet old friends and new ones. One of our friends we met asked us to join them for dinner at the Elk’s Lodge. If you don’t know the Elks, like many similar organizations, they self-fund many scholarships through the fun events they hold at the club. While we joined several years ago, we never seem to find time to go. Our friends mentioned they were invited to a prime rib special and asked us to join them. We were greeted with not only some of the friendliest people we ever met, but the food was outstanding. Perhaps the most pleasant surprise was the entertainment by a duo known as “Hot Mix,” and that is exactly what they did. I don’t know what I enjoyed more, watching people dance as couples the way they did years ago, spinning each other around the dance floor to the tunes of the ’50s and ’60s, or my wife showing off her dance moves from the disco era! Maybe it was low expectations after seeing the number of Elk heads on the wall when we first walked in, but as I said to my wife, “We could have been back home in Little Italy where I’m sure the Elk Heads would have been replaced by the heads of members from the opposing crime family.” Of course, she just rolled her eyes in reply.

While we reminisced with our friends on the complete surprise we just experienced, 24 hours later we found ourselves listening to the music of a Led Zeppelin tribute band whose lead singer was a personal friend of one of our friends. I don’t know about you but, tunes from Dion and the Belmonts the night before are about the polar opposite of Led Zeppelin, yet wouldn’t you know somehow one of the couples from the Elks must have gotten the wrong invitation and wound up on this dance floor ballroom dancing to Stairway to Heaven. While they were mesmerizing to watch, on the other side of the dance floor was a group of guys and gals who danced as if they were still under the influence from the party favors being handed out at Woodstock. I leaned over and said to Gail, “I feel like Lawrence Welk is being danced to on one side and from the body language of those on the other Star Wars must have some kind of lasting influence.” Again the roll of her eyes said it all. While the band, known as In The Light of Led Zeppelin was amazing, what I was watching on the dance floor was equally entertaining, and who would have ever thought right across the street was Port Charlotte’s guitar virtuoso Mike Imbasciani and his Bluez Rockerz. 
As if this wasn’t enough of a musical extravaganza, another great entertainment venue you have to visit is the Visani Italian Steakhouse and Comedy Theater. We’ve seen some of the best comedians, hypnotists, and tribute bands who have performed on some of the largest stages in the country as well as on T.V. Recently, we saw an Eagles tribute band with a group of friends that go by the name The Alter Eagles. If you closed your eyes you would swear this talented group of musicians was the original band as they have recreated the music note for note. To think you would have to drive to a major city to get this kind of entertainment is amazing in itself, but to experience it just minutes from home makes me appreciate our area even more.
So you don’t feel that our summer experiences have been all music-related, another great surprise was a trip to the Babcock Ranch Eco Tour. With so many people moving to Florida, finding a native Floridian is as challenging to me as finding a good New York bagel, but if you want an intimate experience with Florida’s rich history and wildlife in 90 minutes, this is a tour you don’t want to miss. Surprisingly we still have cowboys and Florida Cracker cattle, with some of the animals coming right up to our safari bus. To see the diversity of wildlife in its natural habitat is an experience second to none. In fact, the original telegraph lines connecting our area to the rest of the state still weave in and out of the woods, and I bet you didn’t know Punta Gorda was originally known for being one of the largest producers of Pineapples!
I often tell those looking to move to our area with high aspirations of boating, golfing, going to the beach, and experiencing all the outdoor activities Florida has to offer daily, “You never will, because you always can. We fall into complacency where the weather we experience daily somehow creates a mindset of what we don’t do today we can always do tomorrow, and before you know it you didn’t do the things you thought you were going to do.” Despite our goal in coming to Florida to live a more fulfilling lifestyle, we find we are busier than what we anticipated, and all the things we moved here for we somehow put on the back burner and took for granted. After living in the state for over 22 years I still find it amazing to think within a 2-3 hour drive we can attend professional sporting events in Tampa or Miami, the arts in a host of cities closer to home, and world-class beaches and golf within an hour’s drive. We can take overnight trips to a variety of different towns and cities where you can enjoy the fast pace and glitzy lifestyle of our state’s larger cities, or the downhome cooking and history found in many small towns that dot our state’s less traveled country roads. These are those surprises we overlook that are so close to homemaking our staycations so enjoyable. Now that I think about it, it may be time to revisit the charming ambiance of North Captiva’s Tween Waters Inn where we sailed to for a weekend stay so many years ago and where so many memories were made.

Filed Under: Community Information Tagged With: alter eagles, babcock ranch tours, charlotte county, florida, florida waterfront, gary cardillo, local spotlight, punta gorda activities, real estate, staycation, things to do punta gorda, visani, waterfront

Housing Market Update In a Nutshell

February 11, 2021 by Gary Cardillo

Unless you haven’t been watching the news or seeing the number cars with out of state license plates traveling our roads, let me tell you there has been a tremendous increase in the number of people who are now calling Florida “home” on a full time basis. As I’ve mentioned many times in our previous newsletters, last January we were hearing people saying it was the inclement weather and high taxes that had them strongly considering a move to Florida however, when Covid hit, it changed the market dynamics.
No longer did people want to live in densely populated areas, commute via mass transit and work in the tight quarters of commercial office buildings. Employers found production levels didn’t decrease as anticipated and were now allowing their employees to work remotely. As a result instead of waiting for retirement to move to Florida, they were making the lifestyle change now, and for some cities, it has become a mass exodus!
Florida and Texas are two states seeing a tremendous influx of people looking to relocate on a permanent basis and with very low inventory levels the competition for existing homes has been fierce. In fact some of major builders such as Lennar have put a “sales hold” on some of their developments so construction can catch up with sales.
Recently we had three of our listings sell in one day, and well over full price. Our most recent listing had 28 confirmed showings within 12 hours and 15 offers, with the accepted high offer almost $80,000 over full list price….yes, you read it correctly! Agents were telling us of their frustrations in not having their offers accepted when bidding $20,000, $30,000, $40,000 and more over list price. Buyers who wanted to give some thought to the home they viewed before making an offer found themselves on the outside looking in as the property went pending shortly thereafter.
While this may seem reminiscent during the real estate boom in 2004-2006, it is a very different scenario. Sub-prime mortgages and other forms of loans were being approved for buyers who under normal circumstances would never have been able to qualify. Inventory levels were much higher and the speculation that baby boomers were headed to Florida for the next 20-30 years had everyone giddy the sky wasn’t going to fall. Appraiser’s couldn’t keep up with the increases and started giving valuations on properties that were called into question years later.
What you are seeing now are not only retirees, but those looking to make lifestyle changes prior to retirement, both vying for short supply of available properties. Unlike the market back in 2004-2006, this market is not being driven by investors and speculations. We are in a market where there is strong demand and short supply. With the cold weather now hitting the north, those that were contemplating a lifestyle change are acting with a sense of urgency, adding an additional strain to an already robust market. Sensing their opportunity may be slipping away we have seen an immense uptick in offers well above list price. What was a market characterized by gradual growth, we are now seeing the realization by some this may be their last opportunity for some time and are willing to pay a premium for it.
As always if you have any real estate questions, feel free to reach out garycardillo@wesellpg.com 941.916.0939

Filed Under: Buying Real Estate, Selling Real Estate Tagged With: 2021, charlotte county, florida, gary cardillo, real estate market, update, waterfront

Good News for a Change

July 28, 2020 by Gary Cardillo

If you’re like me it seems every time you turn on the t.v. or pick up a newspaper there is nothing but negative news. If it isn’t the Coronavirus it is the political and racial divisiveness that is making front page news. The left is yelling at you “we want change,” the right is screaming “come to your senses.” Can’t I just be left alone? And let’s not forget about the stock market. I don’t know about you, but I don’t think any Disney World roller coaster ride has anything over the highs and lows we are seeing in the stock market.  One day it is up 800 points and the next day it is down 400. What is going on with this country we live in? Can’t we just go back to the way things used to be?Call me an eternal optimist, but for some time I decided to take a step back and take a look at things from a different perspective. Sure, I have my opinions, but what if I quieted down the entire minutia and got back to the basics of what were the most fond moments of my youth? What I found was without all the clamor the very things I held most dear I was having an opportunity to experience again.  I, too, got caught up in the rat race of everyday life and the simple things I thought of most I was now being given another opportunity to enjoy.
I was forced to slow down and savor each day and the friends we have made along the way . It was the same feeling I had after working in the “concrete jungle” of New York City and coming to Florida 21 years ago. It was like a breath of fresh air that afforded us a quality of life we didn’t have in New York because of the fast paced lifestyle. Unfortunately like most, we got so caught up with work and projects around the home we didn’t take the time to savor the life we found those twenty one years ago. However, the Coronavirus changed all that and we’ve not only had an opportunity to reflect on what really matters in life, but how fortunate we really are.
Closer to home in the smaller cities like Venice and Punta Gorda you are seeing the embrace of a community and a quiet enthusiasm that is translating into new developments and business. Once seen only as places to escape the cold weather up north, we are now seeing somewhat of an exodus from those looking to escape the high taxes and congestion for a better way of life.
I sat down to interview Mark and Leigh McCann who are Captains with Allegiant Airlines . In fact, Leigh is the most tenured Captain in Punta Gorda that has 38 Captains based here and 36 First Officers.  According to Mark and Leigh, air travel dropped in March, but came back in May and June very strong. Out of the 186 passengers the planes can hold, they were flying typically with 170 passengers and sometimes more!
Back in 2007 & 2008 when airlines were suffering from the downturn in the economy, Allegiant was the only profitable airline and up to this pandemic had 70 consecutive quarters of profitability. While the stimulus was supposed to keep the airline industry running through September, like many airlines, Allegiant had plans to furlough an estimated 30% of its pilots however, now there is not only no plans to furlough anyone, they are training new pilots.
Mark and Leigh continued by saying while other airlines are downsizing and pulling out of marginal routes, Allegiant will have an opportunity to pick up new routes and more equipment (planes). The attribute Allegiant’s success to tourist or pleasure travel, not business travel and said they have developed a loyal passenger base.
Turning our conversation to Sunseeker, Mark went on to say, we have a connection to this community, and for all the positives that Allegiant is doing for the community by bringing passengers from various points around the country to our area, the last thing they want is to be tied to a failed project.  H e said while it was important to make sure the airline remained on solid ground during this time, which led them to delaying the development of Sunseeker , the 18 month delay was seen as a conservative estimate and that they hope to resume the project prior to then . He said as a company they are cautiously optimistic, but optimistic nevertheless!
Turning back to the real estate market and it’s upturn in activity, RE/MAX Harbor had 61 showings for the month of May, however that number dramatically increased in June to 458! Yes, people are still looking to move from the large cities where this pandemic has had them reconsider their routine of day to day activities. They are finding out what we’ve known all along…. “Quality of life.”  And it comes from moving to those smaller, quaint towns with a feel of community.
In speaking with those in the RV and marine industries, sales have increased dramatically and as one representative from a local marine company said, “We just can’t find any new or used boats to meet the demand.”And most recently, Punta Gorda was named #2 in  USA Today’s Readers Choice Awards for “Best Small Town Food Scene.” 
All this and more is why we love living in Southwest Florida and why others are choosing to do so as well. As we soar through 2020, all the ups and downs, I think something we can all agree that truly matters is our faith, family, sense of community, and stopping to focus on all the good around us.
-Gary Cardillo

Filed Under: Community Information Tagged With: allegiant, charlotte county, charlotte harbor, florida, gary cardillo, good news, port charlotte, punta gorda, real estate, waterfront

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