The Englewood area offers an assortment of lifestyle options. From soaring condominium residences to quaint beach cottages, there is something to suit every taste.
The old adage “location, location, location” is an apt description of the undiscovered Englewood, Placida, Punta Gorda area. It is a Mecca for water lovers; from world-class fishing and boating to its uncrowded beaches, there is always a water sport or recreational activity to enjoy. This area is perfect for those who want a quiet and laidback lifestyle, but also want to be within proximity to fine dining, cultural activities and night life, as downtown Sarasota offers many amenities and is an easy drive.
Market Update
Barbara Saputo, branch manager of Michael Saunders & Company’s Englewood office, reports a significant increase in property showings in the last few weeks for listings priced according to current conditions. Those that are priced to the market are going to get shown, from the high-end, beachfront condominiums to the moderately priced single-family homes. Buyers will also find new construction properties throughout the area—of particular interest are the single-family units in Pennington Place and paired villas in Stillwater. Both neighborhoods are conveniently located, gated, and offer a host of community amenities.
Stocking the Shelves
One of the many draws to this area is affordability. The price range showing the most activity in 2009 is under $150,000; but properties in the $250,000-$300,000 range are catching up quickly. The amount of inventory available has been decreasing since the beginning of 2009, and in the last two months that number has fallen dramatically. We have more and more sales every month, which will continue to eat into inventory. Months of inventory are presently at 15 months, down from 37 months in November of 2008. Price, which is always a factor in sales, continues to be the key in successful closings.
Success Stories
Last month in the Englewood office, the majority of the sales were from properties that had a price reduction. Recently, the team of Ellen Baker and Michael Hollenbeck closed a waterfront property in Punta Gorda that had been reduced over $200,000. Once the property reached the right number, it was under contract within a few weeks. Beverly Katchen and Ginny Hamilton listed a lovely Rotonda property, had weekly price reductions, it went under contract in 24 days. Ginny Hamilton’s listing in Englewood Isles was under contract within a week of a price reduction.
Barbara’s Bottom Line
Michael Saunders & Company’s Englewood agents work diligently with sellers to keep them informed of market conditions and recent developments. Pricing continues to be what attracts attention from buyers. My advice is to work closely with the agent and stay ahead of the pricing curve. Buyers should be aware that there are well-priced properties in all price ranges, and not just in short sales or foreclosures. Prices across the board are being affected by short sales and foreclosures, but there are many well-priced properties available not in a financial situation.
