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You are here: Home / The Gary Cardillo Group’s Blog

Real Estate Sales Are Steadily Climbing

October 25, 2015 by Gary Cardillo

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.

Filed Under: Buying Real Estate, Selling Real Estate

Mike Riley…Not Your Average Boogieman

October 22, 2015 by Gary Cardillo

Mike Riley, Charlotte County Schools Community Relations Officer, Charitable fundraiser and founder of one of the most sought after bands in Southwest Florida, The BoogieMen!
Mike Riley, Charlotte County Schools Community Relations Officer, Charitable fundraiser and founder of one of the most sought after bands in Southwest Florida, The BoogieMen!

We have all come across people who have either impacted our lives or the communities in which we live. Someone who has impressed me both personally, as well as, for the contribution he has made to our community is Mike Riley, Charlotte County Schools Community Relations Officer, Charitable fundraiser and founder of one of the most sought-after bands in Southwest Florida, The BoogieMen!

With Halloween around the corner and its ghoulish stories of ghosts, goblins and haunted houses, there is a Boogieman out there who is quite different from the one you heard about as a child growing up. For Mike Riley it is all about “serving the community and others before self,” and his impact on the lives of so many others, both young and old alike, is simply inspiring.

Growing up in Hamilton, Ohio, he was born to Roy and Margaret Riley and joined his “big” sister Pat to make their family. They instilled in him, “the respect for your elders, compassion for others, and a desire to love life and live every day to its fullest,” something Mike holds dear to this day. While he grew up with a love for the outdoors, like many children in the 50’s and early 60’s he was captivated by the music of that era. When he first heard of The Beatles he thought they were The Chipmunks, but it was a friend of his sister’s who showed up to their home one day in his mint green ’57 Chevy and opened the trunk of his car to show off a sunburst Fender Stratocaster guitar on top of sheet music and 45 records that the music bug bit Mike. After putting his sister’s Johnny Mathis, Bobby Vinton and Frankie Avalon records away for Buddy Holly, The Beatles and The Everly Brothers, Mike was hooked and it has been in his blood ever since.

After graduating high school in 1970, he went on to Miami of Ohio University part time for the next ten years while working full time and raising a family. Upon graduating with a Bachelor of Science degree in Physical Education he moved that summer of 1980 to Charlotte County, where he accepted a teaching position at Meadow Park Elementary School and taught physical education to “a few thousand of the greatest kids in the world for ten years.”

He went on to further his education, receiving his Master’s degree in Educational Leadership from Nova University in Ft. Lauderdale, and in 1990 accepted the position as Assistant Principal at the brand new Myakka River Elementary School. From there Mike went on to become Assistant Principal at Neil Armstrong Elementary School and then Port Charlotte Middle School before accepting a position as Manager of Adult and Community Education, which he held for six years. His service to the school system was highly recognized by Dr. David Gayler, Superintendent of Schools, who fifteen years ago asked Mike to serve as his link to the community and spokesman for the district as School Community Relations Officer. He also serves as the liaison between the school system and the non-profits, as well as, youth activity providers, but his service to community and the children doesn’t end there.

“Riley” as he is known to his closest friends, has served on a host of boards that include Youth Service Boards for the YMCA, The Boys and Girls Club of Charlotte County and the Education Committee for the Chamber of Commerce. He has chaired Education Day for Leadership Charlotte for 8 years, The Business/Educators Exchange Day for 6 years and has been the liaison for the Take Stock in Children Scholarship Program for 20 years while mentoring dozens of students from 8th grade through their high school graduation. And if you still aren’t impressed, aside from many other community leadership positions focused on local and state education and literacy, Mike is a past president, a “Paul Harris Fellow,” as well as charter member of the Peace River Heights Rotary Club, whose motto he practices to this day, “Service above Self.” This organization sponsors scholarships for local high school students and non-profits including “For Love of Kids” and “Project Graduation” for Charlotte High School seniors, but this is only part of his generous “giving back to his community.”

The Rock and Roll Hall of Fame, has nothing over Riley’s home which in itself is a “hall of fame.” Perhaps the best way to describe this living tribute to rock n’ roll history is if you took Peter Maxx and Sgt. Pepper and sent them on a Magical Mystery Tour!

Mike Riley’s home is a living tribute to rock n’ roll history, a Magical Mystery Tour with Peter Maxx and Sgt. Pepper!
Mike Riley’s home is a living tribute to rock n’ roll history, a Magical Mystery Tour with Peter Maxx and Sgt. Pepper!

Almost 50 guitars hang from these history laden walls, each with an incredible story to tell, and there is no better story teller than Riley who said, “Even the artwork and furniture has a story to tell,” as I noticed a unique cabinet that had the lower right corner missing.

Riley proceeded to tell me as a child growing up his friends and their fathers all owned guns, on Riley’s Wedding Day, his hometown buddy Danny Rommel was at the house and the conversation turned to guns they had. Riley went in and brought out a customized shotgun he had that hadn’t been shot in 20 years. While racking the gun it went off, blowing a hole in the door of his liquor cabinet. Riley said, Danny overreacted, claiming he was hit in the leg as he sat on the couch on the opposite side of the room, but as Riley confided, Danny was in love with telling the story of this new misadventure! He still limps whenever he sees Mike coming.

Mike played guitar on and off throughout his high school years, but one of the first groups he played with in Charlotte County was with his son and one of his son’s school friends.
Mike played guitar on and off throughout his high school years, but one of the first groups he played with in Charlotte County was with his son and one of his son’s school friends.

He recounted the days when he was 10 years old and a neighbor returned home from the Army by the name of Johnny Allen. He wanted ten dollars for a guitar he got from Thailand. Roy, Riley’s Dad, would trade the belt off of his pants so he swung a deal and he had his first guitar. While he played on and off throughout his high school years, one of the first groups he played with in Charlotte County was with his son and one of his son’s school friends. He said they played on the steps of the old courthouse 34 years ago for the 4th of July Fireworks, as well as, some weddings and parties. It was a 4 year run as a 32 year old playing with a 10 and 12 year old. Even though Riley founded the group, the boys eventually kicked him out, as I got the distinct impression the boys felt he was holding them back.

However, in 1990 Mike formed the area’s premier “Rock and Soul” band called “The BoogieMen.” This is a high energy ten piece band that has opened concerts for The Beach Boys, Kansas, The Edgar Winter Group, “Dangerous Dan Toler,” Herman’s Hermits, Rare Earth, The Outlaws, Grand Funk Railroad, The Grass Roots, The Rascals and many other Rock, Soul and Country legends. When I asked Riley, with a resume like this why he didn’t take the group on a national tour he replied, “That was never my intention.” He said, “members of the band all had day jobs and family commitments, and the goal was to have some fun while helping support local charities, raise funds and improve lives.”

Twenty five years later The BoogieMen are still one of the most sought after bands in southwest Florida. They have played 128 benefits and changed the lives of many, both young and old.

The BoogieMen are still one of the most sought after bands in southwest Florida.
The BoogieMen are still one of the most sought after bands in southwest Florida.

Five years ago, Ron Evans and his partners from Smuggler’s Enterprises made a decision to recognize someone annually at the 4th of July Fireworks celebration who epitomizes community service. The award was crafted for someone who selflessly gives of their time and talents to improve the lives of both children and the adults in our community. This is accompanied by a $5,000.00 donation to the charity of the recipient’s choice. Mike was the first recipient of the award on July 4, 2010 and the award read, “In recognition of character, integrity, honor, generosity, community service and student mentoring…” Today this award is known as the “Riley Award,” a true testament to this remarkable man.

Since that time Mike has gone on to receive numerous awards for his dedication to his community and the children within the community whose accomplishments he is even more proud of than his own. He is one of the most humble people I have ever had the pleasure of meeting and proud to call a friend. While his family inspired him to respect and care for others, I think Mike’s own words say it best when he says, “I am proud to call Charlotte County my home, and I hope that in some small way I can make a difference in the quality of life and self-esteem of the children and adults that are part of my community.”

Now, I don’t know about you, but this is not kind of Boogieman I ever knew!

Filed Under: Community Information

Halloween Celebrations 2015

October 21, 2015 by Gary Cardillo

There is plenty of Halloween fun in the area.
There is plenty of Halloween fun in the area.
October is a great month in Punta Gorda. Cooler air starts to relieve the summer heat, downtown prepares for Halloween and local businesses wake up from their sleepy summer months. Here are some of the area’s upcoming Halloween activities.

Punta Gorda

6th Annual Haunting on the Harbor Halloween Party and Haunted House

5pm-11pm on Oct. 30 and 3pm-11pm on Oct. 31.
Features a 5000 Sq. Ft. Air-Conditioned Haunted House, Carnival Games, Kids Area, Hay Rides, Costume Contests, Music, Palm Readers, Tarot card readers, Illusionists and Little Kid’s Fun House.

4th Annual War on the Peace Dragon Boat Festival

Oct. 31st 9:00a.m. at Laishley Park.
War on the Peace benefits CLEF, the Charlotte Local Education Foundation, and its “Take Stock in Children” program, which provides mentoring and a scholarship program for Charlotte County Students.

Halloween 50’s Bash Oct. 30 – 31

TT’s Tiki Bar Zombie U band plays on Oct. 30th and Jungle Boyz plays on Oct. 31st Live Entertainment, Shot Specials, Prizes For Best Costumes and Drink Specials

Fort Myers

Howl-O-Ween at Bell Tower Shops

Families are invited to celebrate Halloween in a kid-friendly environment at Bell Tower Shops with the 4th Annual Howl-O-Ween this Friday, October 31st from 6p-8p.

Lakes Park Fall and Halloween Festival

The annual Fall and Halloween Festival will begin its two-week run Friday, Oct. 17, and continue through Halloween at Lakes Regional Park. The event runs 6 to 9:30 p.m. weekdays and 10 a.m. to 9:30 p.m. Saturday and Sunday.

A nightmare on Third Street

Operating since 2005, A Nightmare on Third Street is one of the biggest private home haunted walks in Southwest Florida. It is located at 13431 Third Street, Fort Myers Shores.

Cape Coral

Mike Greenwells: Can you escape the asylum?

Mike Greenwells will host its 23rd Annual Haunted Hike on October 17th-19th, 24th, 25th, 30th, and 31st. The hike will open at dark each of these nights.

Filed Under: Events & Activities

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

April 9, 2013 by Gary Cardillo

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.

Filed Under: Buying Real Estate

New Home Starts – Another Sign That Florida’s Economy Is Recovering

January 7, 2013 by Gary Cardillo

In a Charlotte Sun article today, it appears our area is well on its way to recovery as new building starts continue to make great strides. Several months back the City of Punta Gorda stated building permits for residential new construction starts was on target to reach 50, up from approximately 36 the year before.

Today’s article seems to indicate this is not a local trend. According to Sarasota Building Official Greg Yantorno, 686 permits were granted in 2012 with 461 of those permits approved for areas south of Blackburn Rd in Nokomis and 225 to the north. Also noted where the over 900 permits that were in the pipeline for Sarasota county. While this may be down from the 2,400 permits issued during the height of the market, it is a clear signal that inventory levels of existing homes are down and there is a renewed confidence for new home construction.

Patrick Neal of Neal Communities, builders of homes in such communities as Palmer Ranch, and their $800 million project in Grand Palms, off Center Road in Venice, as well as the up to 500 homes projected in Boca Royale Golf and Country Club development in Englewood, says they are investing in the South Venice and Englewood areas as these are areas of great growth potential.

Greg Lapinsky, General Manager for Pulte Homes says they have seen the same resurgence as evidenced by the success of their Island Walk community located in North Port’s West Villages. Lapinsky characterizes today’s buyer as being a “more cautious northerner…half who are paying cash, and looking to buy as much home as possible without looking as much at zip code.” He continued by saying, “they are looking for nature walks, preserves and maintenance free living”… looking to “see Florida,” as more and more people are looking to enjoy the year round outdoor lifestyle that Florida has to offer.

The city of Punta Gorda seems to recognize that same interest with the near completion of their “Linear Park,” which is a walk way taking you through all the highlights around the city that include waterfront parks.

Robert Denk, Senior Economist with National Home Builders Association, said the U.S. averaged 1.3 million new residential building starts however, after 2009 it dropped to 27% but by 2013 it should be back up to 51% and by 2014 is projected to rise to about 70% of pre downturn levels. Florida it was stated averaged 127,000 new starts per year and dropped to 15%. By the end of 2013 it is projected the state will rebound to about 40% of pre downturn levels and 50% by 2014.

While Charlotte’s “West County,” south Sarasota and Englewood are seeing a more significant uptick as evidenced by Charlottes 29% increase in new starts, remodeling permits are also up. It is not uncommon to see $30,000 permits for kitchen remodels and $50,000 for pools. Monthly permit approvals have jumped from 7-8 per month to 25-30, a clear indication consumer confidence is on the rise.

Tom Danahy, President of Kitson Babcock, a division of Kitson Partners, said they are seeing the same trends. Danahy stated that typically 300,000-400,000 people move to Florida each year and a recent report showing Florida had a net gain of over 200,000 people moving to the sunshine state which ranks Florida within the top three states with that kind of population growth; Texas and California being the other two states.

However, of the states with the most robust growth most affected by the downturn, Florida appears to be the fastest on the road to recovery, and with prices in many areas not only stabilizing but showing signs of increase, now could be your last opportunity to get the most home for your dollar as inventory levels are much more in line with market consumption. While it was noted that new home starts priced over $400,000 still may prove a bit more challenging than those priced in the more affordable price ranges, we are seeing a greater number of homes being viewed that are priced above $500,000 than we have in the past few years, another sign we are well on the road to recovery!!!

Filed Under: Buying Real Estate, Selling Real Estate

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