North Port, FL Real Estate News

By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
It is a great time to buy. There is a tremendous selection. Sellers are willing to negotiate, and interest rates are still low. The North Port inventory seems to be holding fairly steady.  Now that the prices have dropped significantly, more and more buyers are realizing that this is the bottom of the market. We personally have been very busy with buyers. With so many choices, the buyers are thoroughly searching for the bargains. All our buyers are willing to spend more until they come here and find out they can spend less for what they want. The re-sellers are having a difficult time competing with the builders' incentives on new homes right now. Builders want to move that inventory and get on to building homes so many are even using the services of real estate agents to unload invento...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Local market beginning to climbApril 2007-- North Port Florida market reportFor SaleThere are 1593 properties for sale in North Port, Florida in the MLS. The number of available properties is down 55 from last month. 554 of the active listings are brand new 2006-2007. This number has increased by 4 properties since last month.PendingIn the past 30 days April 1-30, 61 properties went pending. 22 of the pending listings are brand new, built in 2006-2007.The exact same amount of new properties went pending this month as did last month.Looking at the pending properties, 12 have a listing price of $0-$150,000 or less. 25 of the pending properties have a listing price of between $150,001-$200,000.8 of the pending properties have a listing price of between $200,001-$225,000.8 of the pending pr...
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By Bruce Henry, Call Us & Start Packing!
(Berkshire Hathaway HomeServices Florida Realty)
Looking for an established Gated 27-hole Championship Golfing Community?  At the center of downtown North Port, over 700 homes are a prime location for North Port's growth.  There are several new(er) homes available for resale.  With a beautiful new clubhouse, resort pool, tennis courts and 24-hour workout facility you have plenty to keep you busy year round.  No CDD fees in Heron Creek and you can ride around to visit your neighbors in your golf cart.  Let me know if I can tell you more.  Your thoughts on Heron Creek?? For more information, search my website www.brucesellsnorthport.com
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
March 2007-- North Port Florida market report March 2007-- North Port Florida market reportFor SaleThere are 1648 properties for sale in North Port, Florida in the MLS. The number of available properties is down 26 from last month. 555 of the active listings are brand new 2006-2007. This number has also decreased by 16.PendingIn the past 31 days March. 1-31, 69 properties went pending. 22 of the pending listings are brand new, built in 2006-2007. This month 9 more properties went pending but we also had 3 more days than in February. So it looks like thing are finally holding steady.Looking at the pending properties, 18 have a listing price of $0-$150,000 or less. 26 of the pending properties have a listing price of between $150,001-$200,000.7 of the pending properties have a listing pri...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Yesterday I got a call from the local newspaper regarding the local tree ordinance. The ordinance that the People for Trees, Inc is trying to pass reads that 80 percent of the tree canopy must be left on the lot. Right now builders just clear cut the lot when a home is built and plant three oak trees that usually die before the home is sold. My opinion is that both sides are being unreasonable. I don't want North Port to be like a desert with no trees and a few houses sprinkled throughout. But I also don't think that charging builders $100 per inch of each tree they have to cut down, is the answer either. I think there needs to be a happy medium with the ordinance. The builders are also saying that if they leave trees on the lots it could be a fire hazard. Most lots in North Port are 80...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
For SaleThere are 1668 properties for sale in North Port, Florida in the MLS. 586 of the active listings are brand new 2006-2007.PendingIn the past 30 days Jan. 1-31, 66 properties went pending. 20 of the pending listings are brand new, built in 2006-2007.Looking at the pending properties 36 of the properties have a listing price of $200,000 or less. 24 of the pending properties have a listing price of between $200,000-$300,000. 6 properties have a listing price of $300,000 or more. SoldUsing the same time frame, 50 properties closed. 17 of the sold listings were brand new, built in 2006-2007.Of those 50 properties that closed 26 properties closed under $200,000. 20 properties were $200,000-$300,000. 5 properties were over $300,000.For more information on the North Port, Florida area co...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Over the past few weeks my partner and I have acquired several new listings not because we came in with the highest listing price but because we were honest with the sellers. One example is a home we listed just yesterday. The seller (who was a referral to us from another agent) contacted several local agents for CMA's, us included. We gave them a CMA, it was around $40,000 less than some of the other agents CMA's. So, we get a call a few days after they received our CMA thanking us for our time and telling us that they had decided to go with an agent that had sold many of the same kind of home and would list it for $40,000 more than our CMA recommended. This seller was by the way "in dire need of selling." We chatted for a few minutes and after I  hung up with him I put the home on my ...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Construction is slated to begin on a unique project in North Port. The 16 acre Garden of Five Senses will begin this year. North Port is looking to spend 2 million dollars a $400,000 increase over the projects initial price tag. The City says this is due to the rising construction costs. The garden will be unlike any other park in North Port and possibly the region.North Port's Garden of five senses will include a giant sundial and an elaborate garden designed to entice four of the five senses -- touch, smell, sound and sight.The garden itself will be raised off the ground so people in wheelchairs can reach over and touch the native flowers and shrubs. Winding paths will separate the various garden themes, including a butterfly garden and a sound garden. There are several different phas...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
My partner and I have seen an increase in showings in the past month and speaking with other local agents they are experiencing this as well. We expect the January and February sales numbers to reflect this. There are 1592 residential properties in the MLS in North Port with an average listing price of $99,000 for a 2/1 built in 1962 to a nine bedroom six bath home with over 5,000 square feet under air, on three acres. This home is listed at $875,000.Of the 1592 listings in the MLS, 586 are built in 2006 or 2007. The least expensive brand new 3/2/2 home is listed for $165,900. The highest price listing is located in exclusive Heron Creek Golf & Country Club. It is a four bedroom 3 bath home, with a pool and 2900 square feet of living area. The list price for this home is $545,900. From ...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
 We often get asked, "which months are your busiest". So I decided to research it and it looks like the most sales take place March-June. I also included a formula for figuring the absorption rate. Looking at the data it doesn't look like the "sky is falling" in North Port. There were 30 more listings sold in 2005 than there were in 2006. Not exactly a gloom and doom market in my opinion. Hope this helps to bring more optimism to buyers and sellers. # of listings in North Port= 1,630 active listings# sold last month from Dec1 -Dec 31= 55 listings sold#sold (55) X 12 (months) = 660divide 660 by 52 weeks= 13 units per weekIf 13 units sell each week divide that number into the number of active listings 13 divided by 1630 = 130 weeks is the absorption rate or 2.5 years!The Definition of Abs...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Yesterday, I was showing property to a prospective buyer. The price of $499,000 was not the issue. Their main concerns were the taxes and insurance.   Taxes will go up when the property is sold, but probably not at the full sold price. The insurance, however, is another matter.   The buyer is a contractor and said his insurance has quadrupled this year. His insurance on a home in Port Charlotte built in 1978 with about 1300 sf under air is only $400 lower than a home he is building for a customer valued at nearly a million. He has talked to nine insurance agents, and most of them don't even want to insure him.   He says the agents tell him that the companies are trying to drop homes built before 2002 and add the new ones. The list of agents who will insure an older home is growing ever ...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
In North Port, Florida the market so flooded with new homes that builders are cutting their own throats just to jump ship. All we can hope for right now is that the homes they are dumping at little or no profit will soon be sold so that the prices will normalize.   It is going to make it difficult to get the appraisals for the homes bought last year with the new prices being considerably lower than 2005. The same home we sold last year for $258,000 is lucky to fetch $220,000. Investors a walking away from their commitments and leaving the builders with a lot of inventory.   Last year, we were hard pressed to find any homes under $200,000. This year you can have your pick. Competition is fierce, and buyers are asking for more owner financing. Every house that is shown, the agent has the ...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
This morning I sat down to read the paper and there was no less than 10 builders offering big incentives; vacations, big screen TV's, boats, cruises, cars, etc. I'm wondering if these tactics actually are working. The way we feel about it is, why not just lower the price instead? If someone wants a car they are going to go buy one. We are selling houses not cars. I guess if you got a really deal on some of these items it might make sense. Is this happening in your area? Are any agents/builders offering any of these things? Is it working? 
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
After looking at Jay & Francy Thompson’s website, Phoenix, Arizona then going to Kristal Kraft’s site, Denver, Colorado, buzzed on over to Ben Kikimoto’s, Seattle, Washington then I came back to my coast to check out Teri Ishner’s site in Celebration, Florida (sounds like a fun place to live, always a party going on!), I realized how different in price, size, shape, features everyone’s listings are. So my question is, what would be a “typical” listing in your neighborhood? I know there’s bigger and smaller, ect. But what does your typical listing look like? Or maybe every house is completely different where you live. Tell us about your favorite one!  Here in North Port, Florida most of the houses are the year 2000 or newer. There’s building going on everywhere! Every street you look dow...
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