My New Blog

Hello again,

For our friends and family freezing up North, I just wanted to quote Bob Barker, "Come on Down".  The Gulf is blue and the sun is warm.  The beaches are loaded with people desperately needing an escape from the cold, if only for a week or two.

We are having an unusually cold winter here, but the 70's beat the heck out of 15.  The Italian Fest over the weekend, was enjoyed by huge crowds and the island was bustling with activity.  A friend recently called from Virginia to inquire about an April rental.  He said he had heard on tv that Florida was dying.  Newsflash!  the restaurants are full every night and people are enjoying all that Venice has to offer.  The real estate market is really hopping due to the extremely low prices and unheard of interest rates.  Nothing has changed here but the prices!

I want to dispel a few myths,

We are booking a last minute vacation rental to get the best price:

Most of the rentals are fully booked and have been since September.  For those that are waiting for the prices to fall thinking you would have a huge assortment, not going to happen.  People are already booking for next year.  Don't delay or you may find yourself without a winter retreat.

I can buy a home in Florida at 50% off the list price:

Maybe, but not in Venice.  The list prices in most cases are already down 40% from the 04/05 highs.  You may get 3%-5% off list or if it's really priced well you may expect to pay a few thousand over list price.  The homes are priced to sell!  Don't pass up a great deal because you were misinformed.

 Everything in Florida is a Foreclosure or Short Sale:

Again, untrue.  The Venice area is typically know to be a retirement community.  Most of our buyers are cash purchasers or people using equity from their homes up North.  Our buyers, for the most part, planned for their retirement home and have been unaffected by the current mortgage crisis.  While we do have foreclosures and Short Sales in our market, they are not as widespread as in other parts of the state.  The majority of the foreclosures in our area are the investors that got caught unable to flip, not real owner occupants.

Hope this helps to clear up the general perception of our area.  Here are the latest market stats.

Venice Island Single Family Homes for Sale:  Currently 105 priced from $119,900 for a 2 bedroom 1 bath home built in 1952 to $2,995,500, a 5 bedroom 4 bath Bayfront home built in 1991.

Venice Island Single Family Homes Under Contract:  Currently 12, priced from $184,900 for a 2 bedroom 2 bath built in 1964 to $689,000 3 bedroom 2 bath built in 1981.

Venice Island Single Family Homes Sold since 1/1/09:  5, priced from $269,900 (list) for a 3 bedroom 3 bath built in 1951 to $529,900 (list) 3 bedroom 2 bath built in 1993.

Venice Island Condos, Co-Ops, Manufactured For Sale:  Currently 185, priced from $64,900 for a 2 bedroom 2 bath built 1971 to $1,695,000 3 bedroom 3 bath built in 05.

Venice Island Condos, Co-Ops, Manufactured Under Contract:  Currently 11, priced from $77,900 for a 1 bedroom 1 bath built 1983 to $950,000 2 bedroom 2 bath built 1983.

Venice Island Condos, Co-Ops, Manufactured Sold since 1/1/09: 9, priced from $79,900 (list) 1 bedroom 1 bath built 1969 to $595,000, 2 bedroom 2 bath built in 1970.

In all of the Venice area there were 131 homes (all types) recorded sold on the mls since January 1st. this year.

If you have any questions or are thinking of jumping in on this market, please don't hesitate to call or email me. 

Janet Thomas,

Broker