Home Buying in 33950>Question Details

SandK, Home Buyer in Bonita Springs, FL

Older Homes in PGI seem to be Flat at best

Asked by SandK, Bonita Springs, FL Sat Jul 7, 2012

We have noticed that 1970-80s vintage homes in PGI have not appreciated much at all over the last 12-15 years. We understand the boom up to 2006 and the subsequent bust, but it appears that homes are selling for similar prices as they did over a decade ago.

Is this area just doomed to be flat for the foreseeable future?

Help the community by answering this question:

Answers

7
Fernando Pettineroli’s answer
I think the market is recovering in a very healthy way. We are observing a very firm advance in price in the last 3 months and everything says the tendency will continue to go up. So if you are still looking, I specilize int his area and would like to be your agent. Please call me for a FREE buyer consultation at (941) 275 9111. Thank you. Fernando Pettineroli. Listing agent and advisor. Keller Williams Realty.
0 votes Thank Flag Link Mon Oct 22, 2012
It's true! It's 2012 and there are still many waterfront homes, condos, and building lots for sale for 75% less than when real estate prices started their decline back in 2006. So whatever your budget you can still get a whole lot more for your money. There are hundreds of single family homes for sale in Charlotte County with asking prices of less than $100,000 - and many of them were built in the past five years. You can buy vacant lots today for up to 95% less than the peak prices. They are practically giving them away! There are excellent building lots for sale today for under $6,000 in subdivisions where they sold in the past for $60,000 to $100,000 or more. Check out our area today while you can still find your perfect property at prices not seen since the 1990's!

--
Bill Arther
Keller Williams Realty
941.661.3643

Check out my website at http://www.BillArther.com
0 votes Thank Flag Link Sun Jul 8, 2012
Ken & Karen Rolland, Agent, 33950
Check out the stats on our website - they aren't segmented by age, but they ARE JUST PGI waterfront single-family residences. You'll see that mean closing prices are higher this year, the closed sale count is way ahead of last year and inventory is down significantly. We also publish a monthly commentary is available at

http://www.krolland.com/MarketReports/1205MayCommentary.pdf

- we'll have the June edition out in a few days.

If you're truly looking for a "vintage" PGI waterfront home (complete with pink and green tile in the baths), it will be inexpensive because current demand is generally for newer decors, higher ceilings and more amenities.

Many of those older homes (like ours, a 1986) have been updated and their values, while perhaps not increasing today, have certainly held their own. Due to the possibility that an older home may have been updated, generating statistics by age would require considerable effort and subjective judgement; one person's update may be another's maintenance (and that's if you could get into the house at all).

Regards,

Ken & Karen
0 votes Thank Flag Link Sun Jul 8, 2012
Punta Gorda Isles waterfront properties are unique and there will always be a demand for that. Vintage homes very often need updating and we are seeing prices stabilize. The future seems very bright.
Homes in PGI were built from the 60s on. Designs, style, structure have all changed. They are now competing with newer homes.
Are you looking to buy or sell? Properties that are priced right are still being sold.
How can I help you? What specifically are you looking for? Call or email me and I would be happy to answer all your questions.
Sincerely,
Genevieve Ramachandran
0 votes Thank Flag Link Sun Jul 8, 2012
The list and sold prices have been going up in this area since October of last year, including Punta Gorda Isles. Below is a brief overview of sold listings median price in PGI. I can send you reports and stats if you would like. We cannot predict what will happen in the future. It all depends on the economy. Are you looking to buy a home in PGI.

Sold Listings
Month Count Median Price
6/2010 53 $169,000
7/2010 41 $173,000
8/2010 42 $181,000
9/2010 31 $185,000
10/2010 40 $161,250
11/2010 34 $152,468
12/2010 46 $181,157
1/2011 41 $151,000
2/2011 46 $182,500
3/2011 80 $143,500
4/2011 63 $182,000
5/2011 58 $155,500
6/2011 51 $165,000
7/2011 47 $165,000
8/2011 39 $180,000
9/2011 36 $142,500
10/2011 34 $127,500
11/2011 41 $145,000
12/2011 39 $174,000
1/2012 42 $155,000
2/2012 51 $187,500
3/2012 72 $187,250
4/2012 72 $250,000
5/2012 76 $233,500

Tammy Hayes, Realtor
Green Lion Realty, Port Charlotte, FL
tammyhayesre@gmail.com
941-276-6185
0 votes Thank Flag Link Sun Jul 8, 2012
It does seem that way, doesn't it? You are very observant, so you must be watching our market closely. The problem is, realtors don't really have crystal balls to know what is going to happen in the future. However, my guess is that we won't see any overall major price increases in the near future in that market.
0 votes Thank Flag Link Sun Jul 8, 2012
Not at all. Are you interested in buying or selling?
0 votes Thank Flag Link Sat Jul 7, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer