How prevalent are foreclosures in Port Charlotte, Florida?

Asked by Kerry, Cape Coral, FL Tue Jul 1, 2008

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Shannon Moore…, Agent, Port Charlotte, FL
Thu Aug 28, 2008
Hi Kerry,

There are 83 foreclosures currently in Port Charlotte 19 of them are 2000 or newer, and 104 foreclosures in North Port-75 of them are 2000 or newer. You would probably get a better deal on a foreclosure looking in the North Port area as opposed to Port Charlotte. Many of the homes that are going into foreclosure in North Port are newer and larger than the Port Charlotte homes.

We can send you a list of foreclosures if you are interested in taking a look.

Roxanne Moore, Realtor
Re/Max anchor Realty
North Port/Port Charlotte
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Evelyn Walin…, Agent, Port Charlotte, FL
Sun Aug 24, 2008
The foreclosure market is very prevalent right now. I've been showing a customer homes all week and over 1/2 of them were foreclosures. Foreclosures and "short sales" account for about 25% of our market at this time. The numbers will probably go up. The good news is they are selling relatively quickly. The banks don't want to own homes and are motivated to unload them.
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NonRealtor, , 23456
Sun Aug 24, 2008
Trulia shows 600+ foreclosures in this area.
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Bill Eckler, Agent, Venice, FL
Sun Jul 13, 2008

There are a number of nearly new homes in foreclosure in the North Port/Port Charlotte area priced under $150,000. We would be happy to provide additional information if interested.

The "Eckler Team"
Michael Saunders & Company
0 votes
Phil Moody, Agent, Ponte Vedra Beach, FL
Tue Jul 1, 2008

Here is some more info on the area.

Cape Coral/Fort Meyers, Fla.

It's also been hit hard by the housing crisis. Home values have plunged and foreclosures have jumped a whopping 442% since 2006. It is on Local Market Monitor's list of overpriced markets, with a 34% difference between actual prices and equilibrium; its counterpart to the south, Naples, comes in at No. 1.

Median price end of 2007: $225,300

Median price end of 2006: $258,900

Percent change: - 13 %

Projected change through Q3 2008: - 17 %

Foreclosures in 2007: (1 for every 24 households) 12,880

Foreclosures in 2006: (1 for every 132 households) 2,375

Change in foreclosures: + 442.3%

Be careful about buying in new developments 10,20,or 30 miles from the coast.
Remember in real estate... location....location...location.
Buy as close to the water as you can afford. Waterfront always goes up the fastest!
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Bill Eckler, Agent, Venice, FL
Tue Jul 1, 2008

There are many short sale and foreclosure properties currentlu on the market in Port Charlotte and North Port. It's difficult to project the actual numbers because homes are constantly coming on and going off the market. We would estimate there are more short sales currently on the market than foreclosures and when these homes move into foreclosure status the foreclosure numbers will increase significantly.

Here's an examle of a typical foreclosure in this locaton:

2006 construction, 3/2/2 pool, approx. 2000 sf, and priced under $160,000.

This is a wonderful time to be investigating purchasing options in this location. And on the other hand, no time to be SELLING.

We hope this is helpful

The "Eckler Team"
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