Unfortunately, there are criminals about trying to steal your vacant lot, and even your home. This article from the legal team at Florida Realtors® is worth reading.

FR Article on Fake Title 15 May 2023

All four sales due in April closed on schedule; they were 9043 (1,595sf) which sold for $425,000, 8543 (2,338sf) which sold for $799,000, 9543 (1,698sf) which sold for $475,000 and 9836 (1,485sf) which raised $372,000. There were no new listings in April. There are only two pending listings; 8722 (2,348sf) was listed at $814,900 and is slated to close on 15th May and 9639 (1,698sf) was listed at $480,000 and is expected to close on 16th June. All their contract dates were recent, as with last month, but their numbers indicate a continued slowing in activity. This, of course, coincides with the end of the 2022/2023 snowbird season. I expected there might be a few more listings at the end of the season, but that hasn’t happened – maybe owners realise that, once repaired, Vivante might/could/will command higher values. The number of active listings today is nine, just 2.6% of the total, two in Boca and seven in Bella. One listing has been increased in price and three have been reduced. Overall, the market is quiet, neither sellers nor buyers have an edge and it still seems to me to be fairly balanced but without much substance. The economists expect interest rates to rise at this week’s FOMC meeting, but all ears will be on what the Fed has to say for the next move and their general view of the economy.

Vivante MLS Review 1 May 2023

There were two sales recorded in March, they were 9929 (1,698sf) which sold for $505,000 and 9527 (2,106sf) which raised $522,500. There was one new listing, 9733 (2,106sf) was listed at $624,000. There are four pending listings; 9043 (1,595sf) was listed at $425,000 and is slated to close on 3rd April, 8543 (2,338sf) was listed at $799,000 and planned to close on 15th April, 9543 (1,698sf) was listed at $485,000 and should close on 21st April and 9836 (1,485sf), listed at $384,900 is expected to close also on 21st April. All their contract dates were in 2023 indicating that buyers are still about and active, but not at the same levels as the last two years. The number of active listings today is eleven, 3.2% of the total, three in Boca and eight in Bella. One listing has been increased in price and four have been reduced. Overall, the market is still generally quiet. The rest of the potential buyers who are still about are hesitant. They may be missing an opportunity as we move into Vivante’s rebuilding stages with interest rates potentially passing their peak in the Summer. Finally, Charlotte County’s year on year condo statistics in February show closed sales down 30.1%, the average sale price up 6.7%, new pendings down 26.4%, new listings up 14.5% and inventory up 350% to 297 units giving a more  normal 3.4 months inventory vs: half a month a year ago. Neither sellers nor buyers have an edge, the market seems to me to be fairly balanced.

Vivante MLS Review 1 Apr 2023

There were no sales recorded in February. There were two new listings, 9543 (1,698sf) was listed at $485,000 and 8531 (2,398sf) came on at $879,900. There are three currently pending listings, 9043 (1,595sf) was listed at $425,000 and is slated to close on 3rd April and 8543 (2,338sf) was listed at $799,900 and should close on 15th April. Also, 9929 (1,698sf), priced at $525,000, has gone pending, but no closing date is yet available – that’s the listing that was on the Royal Palm Coast MLS in Lee County. Interestingly, 9043 was only on the market for 1 day, indicating solid interest, or perhaps an attractive price level. The number of active listings today is eleven, up two from January, four in Boca and seven in Bella; two listings have been reduced in price and one increased, so I wouldn’t say there’s a trend either way at the moment. Overall, the market is still quiet and buyers are hesitant; it will probably remain so until we see more substantial and visible repairs post Ian, not only at Vivante, but also generally. One final comment from Florida Realtors on the monthly UF Study, published yesterday, you can read it here.

#vivante #puntagordaisles #floridacondos #puntagorda #vivantepg #vivantetennis

Vivante MLS Review 1 Mar 2023

There was one new listing in December, 8545 (2,338sf) was priced at $825,000. There are now eight active listings, one in Boca Lago and seven in Bella Lago. Of those seven, six are harbour units and four of those are in Building 85. No sales closed in December, but there is one pending which is due to close on 3rd January, that is 9723 (2,106sf) listed at $580,000. Two listings that had been inactive, came back; They are 9026 (1,595sf) priced at $487,700 and 8532 (2,338sf) priced at $699,995. As expected, recent activity has been somewhat muted, but there are interested buyers about. Meanwhile, recovery and remediation continue and will for a few more months yet. The special loss assessment has been passed and payments are due by 31st January. They are different for each building – when Vivante was built, each building was its own condominium association and had its own financials. Merging the COAs legally into one in 2011 was an obviously beneficial decision to make, but combining the accounts of each one wasn’t feasible partially because the number of units in each building was different, ranging from eighteen to forty five. The COA board is pressing ahead with our insurers, advisers and suppliers, so we should see the pace of the recovery pick up into the new year.

#vivante #puntagordaisles #floridacondos #puntagorda #vivantepg #vivantetennis

Vivante MLS Review 1 Jan 2023

Two sales closed in November; 9448 (1,485sf) closed at $375,000 and 8546 (2,398sf) raised $900,000, a 10+ year high for that floor plan. There is only one pending today, 8532 (2,338sf listed at $699,995) is slated to close on 6th January next year. There were two new listings during the month; 8543 (2,338sf) is priced at $799,000 and 8934 (also 2,338sf) at $815,000. Activity in the market for Vivante’s condos has been quiet as rebuilding and repairs continue apace. Again, I suspect the market will continue to remain quiet in the very short term whilst the affects and costs of the storm are assessed and repairs forge ahead – due as well to the current visual bruising. But, I expect prices to increase as we move forward into 2023 – interest rates at FOMC level are expected to rise again in December, but the Fed’s outlook seems to be for smaller rises into 2023 and indeed some commentators are forecasting rates may be showing early signs of topping out already. Lender’s rates are already off the highest levels. Inventory, at less than 2%, is very tight so even a modicum of interest should be positive. Plus, as I’ve said before, Vivante will be “younger” real estate soon, especially as we look likely to replace all the roofs, which are now some 15 to 16 years old, in early 2023.

Vivante MLS Review 1 Dec 2022

There was one delayed closing from September in early October, 8936 (2,398sf) raised $650,000. There are two pendings currently; 9448 (1,495sf listed at $390,000) is due to close on 29th November and 9022 (1,803sf listed at $535,000) is slated to close on 30th November. There was one new listing during the month; 8532 (2,338sf) is priced at $699,995. Activity in the market for Vivante’s condos has been affected by Hurricane Ian of course; there has been damage to the buildings, roofs and landscaping and several of the units have suffered water infiltration resulting in flooring and some drywall being removed. We have had a full month of clean-up, hundreds of large scale dehumidifiers and air scrubbers working constantly, substantial waste removal, but today, repairs are underway. Our management company’s onsite staff and numerous external labourers have all worked extraordinarily well and all the necessary recovery measures have been in process since day two. Yes, we have a long way to go, but Vivante will come out of this in a better, effectively younger shape, and will stand strong in all of SW Florida. I suspect the market will continue to remain quiet in the very short term whilst the affects of the storm are assessed and repairs continue. But, I expect prices to increase as we move forward – with so much destruction elsewhere in our local counties, a shortage of luxury condo housing could increase demand for Vivante. One current listing’s price has already been raised; 9742 (1,915sf) is now $599,000, up $74,000. Is this a sign? By the way, my car was not upside down when I returned to MCO on 5th October, but it was exceptionally clean!

Vivante MLS Review 1 Nov 2022

I left for England on 14th September for my annual visit home (the first one since 2019) so I haven’t seen the extent of the damages to Vivante personally, but from what I have read and seen online tells me we have a strongly built survivor of a sub division. I have had internet access to NBC2, so I’ve probably seen more information about the local situation than most. Obviously this week has been severely affected by Ian everywhere and it will take some time, physical effort and money to return to some level of normality, but the market marches onward through the wind and rain, so back to my Review. There was one closing during September, 8736 (2,398sf) sold for $785,000. There are three pendings, 8936 (2,398sf, listed at $690,000) was due to close on 28th September but must have been delayed by Ian, 9723 (2,106sf, listed at $580,000) is slated to close on 24th October and 9022 (1,803sf, listed at $535,000) should close on 30th November. There were four new listings; 8942 (2,338sf at $835,000), 98217 (1,915sf at $495,000), 9448 (1,485sf at $390,000) and 9724 (1,485sf at a wild $545,000 – the last sale of a unit with this floor plan was at $372,000 in June, some $173,000 below this asking price)! Vivante had continued to progress from August’s early revival and, as expected, we’re starting to see some new listings appear pre-season. As interest rates are still hitting mortgage applications and approvals and whilst they continue to rise, expect demand to be softish, but not evaporated. As usual, a cash offer conveys a confident potency. Bottom line – I have no idea what the market will do in the very short to medium term whilst the affects of the storm are fully assessed. We’ll have to watch, wait and see. Meanwhile, I hope my car is right side up at MCO when I get back on Wednesday!

No sales closed during August but there is life – three listings went pending. They are 8736 (2,398sf listed at $788,000) which is slated to close on 12th September, 8936 (2,398sf listed at $690,000) on 10th October and 9723 (2,106sf listed at $580,000) on 24th October. It will be interesting to see where they all closed. There were two new listings in August; 9022 (1,803sf) is priced at $535,000 and 8722 (2,348sf) is priced at $849,000. So, there has been a nice pick-up in activity in Vivante from a very slow Summer. It is quite normal to see a flow of new listings as we enter the next Snowbird season. For various reasons like family, health, costs, etc., some visitors returning to Punta Gorda seek to enjoy a final season and close on a sale around Easter. We shall see. Price levels are always a moving target, but I don’t see any major falls in the immediate future; yes, we’ve seen some already and rising interest rates are having an effect on buyers, but the recent positive actions in Congress have led to an increase in consumer confidence despite the actions in the casino (oops!) stock market in New York. And Florida remains a market of its own making.

Vivante MLS Review 1 Sep 2022