Home Buying in North Port>Question Details

Dianne Robar…, Both Buyer and Seller in North Port, FL

I am looking to buy a home in North Port Florida vicinity. Do you think prices have leveled off there yet,?

Asked by Dianne Robarge, North Port, FL Fri May 15, 2009

or are they still going down? In January I had an offer accepted for a 2-year old house for $115K, but I backed out for reasons. Now I can't find anything like that around for similar price--in Jan they were everywhere. What's happened? Are houses going into foreclosure and will come back on the market do you suppose?

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6
Hi Dianne. Below is a link to a list of 63 homes in North Port built after 2005 for $49k to $99k.

http://mfr.mlxchange.com/Pub/EmailView.asp?r=1354245661&…

The deals are still out there if you know how to find them. Many of these homes are in move in condition.

Call me when you are ready to go shopping!

Regards,


Bill Arther

Keller Williams Realty Gulfstream Gold
Realtor ® - National Association of Realtors
Phone: (941) 661-3643
Fax: (941) 639-3815
Office Phone: (941) 473-7399
Office Fax: (941) 473-7199
MailTo:Bill@BillArther.com
Mail: 3155 South Access Road Suites A-C, Englewood, FL 34224

Check out my website at http://www.BillArther.com
0 votes Thank Flag Link Sun Jul 26, 2009
North Port:
North Port’s average listing price for the last 6 months $118,977-Average selling price for the last six months is $109,563:
Average list price June 16-July 16 was $107,168 and the average selling price was $101,888. Average size home was 1616 sq ft under air.
Average list price May 16-June 16 was $113,354 and the average selling price was $107,128. Average size home was 1651 sq ft under air.
Average list price Apr 16-May 16 was $111,080 and the average selling price was $103,651. Average size home selling was 1588 under air.
Average list price Mar 16-Apr 16 was $108,114 and average selling price was $102,362. Average size home selling was 1566 sq ft under air.
Average list price Feb 16-Mar 16 was $102,399 and average selling price was $97,125. Average size home selling was 1572 sq ft under air.
Average list price Jan 16-Feb 16 was $111,387 and average selling price was $105,740. Average size home selling was 1595 sq ft under air.
Sarasota:


The stats below are on single family homes only
North Port
# of listings in North Port= 615 active listings
# of listings sold from June-16-July 16: 125
# of listings sold from May 16-June 16: 147
# of listings sold from Apr 16-May 16: 150
# of listings sold from Mar 16-Apr 16: 156
# of listings sold from Feb 16-Mar 16: 152
# of listings sold from Jan 16-Feb 16: 130
860 homes sold in the last six months in NP. Average number of homes sold per month over the last 6 months in NP: 143 homes
#sold (143 homes) X 12 (months) = 1716
divide 1716 by 52 weeks= 33 units per week
If 33 units sell each week divide that number into the number of active listings 33 divided by 663 = 19 weeks is the absorption rate or 4 ½ months of inventory in North Port.

Shannon Moore, Realtor
Re/Max Anchor Realty
North Port, FL
941-276-8142
twomoores19@comcast.net
0 votes Thank Flag Link Fri Jul 17, 2009
Hi Dianne,
The great thing is that properties are selling fast. We have been getting ready to put in offer after offer only to be told that it had gone pending.
So, if you are interested in buying, get preapproved and get a good agent. Do some research yourself so you can identify what you like or dislike and be ready to make a quick decision when you find what you want. Good properties are moving fast.

If there is anything our office can help you with feel free to contact us.

Good Luck!!!

Genny
pgrealty@hotmail.com
http://www.puntagordarealty.mfr.mlxchang.com
800-819-2788
941-639-2788
941-268-1511
0 votes Thank Flag Link Fri May 15, 2009
Dianne,
The inventory of North Port homes built in 2002 or newer is dropping. The banks are selling them for way below construction cost and buyers are now buying instead of waiting. I've had two customers in the last three weeks lose out on a great deal because they did not have their cash or financing ready. The two bank-owned homes went under contract four and five days after being listed.

I suggest you pick an agent with whom you can communicate your needs and wants, get your financing or cash in order, and be prepared to act when the right home for you comes on the market.

Good luck,

John Shetron
Buyer's Agent
Suncoasteam Realty
941-875-9651
john@suncoasteam.com
Web Reference: http://www.suncoasteam.com
0 votes Thank Flag Link Fri May 15, 2009
Dianne,

The real estate situation is not good for sellers in North Port. Prices are "rock bottom" in many cases. We have a customer that went to contract on a 2002 constructed home two days ago. 3/2/2 ready for the new owners that will be priced under $65,000.

These buyers spent 2 full weeks chasing foreclosures full time before finally landing one. There determination has paid off for them. The market is changing because people are seeing the tremendous opportunity to save and home are flying off the market.
0 votes Thank Flag Link Fri May 15, 2009
Dianne,

We have just received our updated market figures for the first quarter of 2009 and prices are 40% lower than one year ago, but the number of homes sold has increased, and inventory is down. No one can say for certain if this is the bottom but local economists are saying if this isn't the bottom we should be there by this summer. There are 80 homes presently for sale on the MLS sytem between 100 and 120,000 in North Port .
If you would send me more criteria on what it is you are looking for, I would be happy to start working with you, to find a new home.
Karen MacKinnon
Coldwell Banker Res. R.E.
914-448-4715
0 votes Thank Flag Link Fri May 15, 2009
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