"With the expiration of the $8,000 tax credit we had anticipated a potential drop off in sales, but the level of pending sales still shows strength in the market," said 2010 SAR President Erick Shumway." There are still a lot of serious buyers in our market, and we hope this very active period continues through the usually slower summer months."
Home buyers unable to tap into a federal tax credit before it expired on April 30th are finding a consolation prize in mortgage rates, which are near their lowest level on record. Government sponsored mortgage buyer Freddie Mac said the average rate of 30 year fixed loans this past week (a/o 7/15/2010) was 4.57 percent. That's the same as a week earlier and the lowest since Freddie Mac began tracking rates in 1971. The last time home loan rates were lower was the 1950s, when most mortgages lasted just 20 or 25 years.
"The Gulf oil spill hasn't ruined Florida's economic recovery and the modest growth will continue this year, according to a new report. While the oil crisis dealt a blow to the Panhandle tourism industry, it won't be enough to stop the Sunshine State's economy from growing 2.9 percent this year, a University of Central Florida forecast said. Even so, the report predicts recovery at snail's pace both statewide and in South Florida as employers resist hiring and real estate values remain depressed."*
If you are considering selling your home, there are steps you can take to help make your home "stand out from the crowd" and ensure a successful sale. Call me at 941-270-1851.
2887 properties currently available for sale, 1606 properties have been on the market over 120+ days
- Highest listed property, $13,500,000
- Average listed property $396,834
- Median listed property $215,000
- Lowest listed property $11,000
59 new properties were listed for sale over $1,000,000 in June 2010
- 64 new properties listed below $99,999
- 161 new properties listed between $100,000 - $199,999
- 39 new properties listed between $200,000 - $299,999
- 16 new properties listed between $300,000 - $399,999
- 13 new properties listed between $400,000 - $499,999
- 5 new properties listed between $600,000 - $699,999
- 0 new properties listed between $700,000 - $799,999
- 4 new properties listed between $800,000 - $899,999
- 3 new properties listed between $900,000 - $999,999
- 3 new properties listed above $1,000,000
187 properties sold in Venice/Englewood area in July 2010
- 59 properties sold listed below $99,999
- 66 properties sold listed between $100,000 to $199,999
- 35 properties sold listed between $200,000 - $299,999
- 9 properties sold listed between $300,000 - $399,999
- 10 properties sold listed between $400,000 - $499,999
- 1 properties sold listed between $500,000 - $599,999
- 2 properties sold listed between $600,000 - $699,999
- 4 properties sold listed above $1,000,000
All reports are based on data supplied by the MyFloridaRegionalMLS and FloridaRealtors.org. Report statistics encompass communities of Venice, Nokomis, Casey Key, Osprey, Englewood, Rotonda, Rotonda West and Manasota Key FL.
*Source: FloridaRealtors.org (07/30/2010).
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