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My take on the Real Estate Market for Punta Gorda, Florida

November 30th, 2010 11:12 AM by Marianne Lilly

I was recently asked for my take on the real estate market for my area.  I cover from Burnt Store Marina in Punta Gorda, Port Charlotte all the way to North Port in Florida.  I specialize in Punta Gorda and waterfront properties as well as gated communities such as Kings Gate, Heritage Oak Park, Riverwood and Seminole Lakes. 
On the real estate market I have to look at both sides.  From the buyer's point of view, this is a terrific market with low prices and low interest rates.   Anyone who has maintained a good credit rating is golden.   No need to wait to buy.  Prices may dip a bit more, but interest rates may rise so why wait?  As the market balances the selection of good properties will be reduced. 
On the other hand, for sellers, the market has been declining, and will continue for another year or two as there is still an over abundance of properties available - currently a full year's supply  to be absorbed by the market.  If no other bad press for our area and Florida happens (the Gulf Oil Spill was devastating for months!) the market will slowly recover and begin to appreciate gradually.    
?Because it is a good time to buy, I don't discourage sellers from listing.  The good news for sellers is that there are buyers.  It's an active market, a good one, just not as high priced as some sellers want it to be. 
That's my take on it all.  I hope it helps.  
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Posted by Marianne Lilly on November 30th, 2010 11:12 AM



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