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Homes For Sale In Charlotte County, Florida

Charlotte County Real Estate:

Land For Sale In Charlotte County, Florida

Punta Gorda Isles:

Homes For Sale In Punta Gorda Isles, Florida

Condos For Sale In Punta Gorda Isles, Florida

Lots and Land For Sale In Punta Gorda Isles, Florida

Port Charlotte – Northeast:

Homes For Sale In Port Charlotte. Florida – Northeast Section

Condos For Sale In Port Charlotte, Florida – Northeast Section

Lots and Land For Sale In Port Charlotte, Florida – Northeast Section

Port Charlotte – Southwest:

Homes For Sale In Port Charlotte, Florida – Southwest Section

Condos For Sale In Port Charlotte, Florida – Southwest Section

Lots and Land For Sale In Port Charlotte, Florida – Southwest Section

Deep Creek Section:

Homes For Sale In Deep Creek, Florida

Condos For Sale In Deep Creek, Florida

Lots and Land For Sale In Deep Creek, Florida

Harbor Heights Section:

Homes For Sale In Harbor Heights, Florida

Condos For Sale In Harbor Heights, Florida

Land For Sale In Harbor Heights, Florida

Punta Gorda, East of I-75:

Homes For Sale In Punta Gorda, East, Florida

Condos For Sale In Punta Gorda, East, Florida

Lots and Land For Sale In Punta Gorda, East, Florida

Punta Gorda Center:

Homes For Sale In Punta Gorda Center, Florida

Condos For Sale In Punta Gorda Center, Florida

Lots and Land For Sale In Punta Gorda Center, Florida

Burnt Store (Burned Store) West, Isles & Meadows:

Homes For Sale In Burnt Store Isles, Florida

Condos For Sale In Burnt Store Isles, Florida

Lots and Land For Sale In Burnt Store Isles, Florida

Burnt Store Marina, Lakes & Village:

Homes For Sale In Burnt Store Marina, Florida

Condos For Sale In Burnt Store Marina, Florida

Lots and Land For Sale In Burnt Store Marina, Florida

Selling Lots and Land in Rotonda, Florida

Selling Lots and Land in Rotonda, Florida

Posted by Jim Mulligan on December 13th 2006 to Price Trends, SW FL Land

Andy and I received a call from a customer who had inherited 3 properties from her mom. She and her brother were trying to find out what the land was worth. They might want to keep one of them but they really wanted to sell one or two.

I told them that if they want to sell the lots in a reasonable amount of time, they must be aggressive in pricing. I did a study of the areas where they own the lots. Two are lots in Rotonda Villas and one is a lot in Rotonda Heights.

The ones in Rotonda Villas are not as valuable as the one in Rotonda Heights. They are in an area where the lots are small, there is no development and the lots have no utilities. The one in Rotonda Heights is another story. It is a beautiful lot! It is extra large€¦ a little over a half acre. It has water and sewer and it is near brand new, big beautiful homes with more being built. If someone built a $300,000 - $500,000 home on that lot it would be worth 20% more in a few years.

Similar lots to the one in Rotonda Heights are priced at $59,000 and have been on the market for three months to over a year. If they want to sell their lot in Rotonda Heights I told them they would have to price it below the others. They set a price at $55,000.

Likewise, I told them if they wanted to sell the lots in Rotonda Villas they would have to be competitive€¦ even aggressive. There were many lots priced in the low $20,000’s. (I think I remember at least 30 lots under $25,000) I suggested that they offer their larger lot at $21,750 and the smaller lot at $19,500.

They sold the larger lot in 3 days and had several offers of $18,000 on the smaller one. We have since raised the price of the Rotonda Heights lot to $65,000 because they may just build a winter home there and now that one of the lots in the Villas have sold, it takes a burden off them.

OK€¦ what does this mean to you? There are buyers out there but they will only pay a sane price for vacant land. The crazy days of speculation are over. There are 1,420 lots for sale today in The Rotondas€¦ (that is, all sections of Rotonda West plus the Sands, Villas, Lakes, Meadows and Heights) That’s less than 10% of the 14,620 vacant lots in The Rotondas. And that’s nothing! Go across 771 to South Gulf Cove and 927 of the 8,000+ vacant lots in that section are for sale. And we haven’t mentioned Gulf Cove, Englewood East and West or North Port and Port Charlotte! Supply and demand€¦

Now it is absolutely true that some areas will fetch a better price. A golf course lot in Pine Valley surrounded by half million dollar homes is certainly more valuable than a postage stamp lot in Rotonda Villas with no water or sewer. As your brokers, it is Andy’s and my responsibility to assist you in determining the proper sale price for your land. We will use all the current and historical data, learn what you hope to net and market your property accordingly. However, you are the boss. You are the owner of the property and no matter what the data show, you are the one to set the sale price and we work for you. We will help you make an informed decision then you decide.

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Homes For Sale In Rotonda (Rotunda) West, Florida

Rotonda (Rotunda) West:

Condos For Sale In Rotonda (Rotunda) West, Florida

Lots and Land For Sale In Rotonda (Rotunda) West, Florida

Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas:

Homes For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida

Condos For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida

Lots and Land For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida

Cape Haze (Cape Hase):

Homes For Sale In Cape Haze, Florida

Condos For Sale In Cape Haze, Florida

Lots and Land For Sale In Cape Haze, Florida

South Gulf Cove:

Homes For Sale In South Gulf Cove, Florida

Condos For Sale In South Gulf Cove, Florida

Lots and Land For Sale In South Gulf Cove, Florida

Homes For Sale In Rotonda (Rotunda) West, Florida

Sales Statistics – Rotonda, Florida – November, 2006

Posted by Jim Mulligan on December 11th 2006 to Price Trends

Rotonda is divided into several sections. These include Rotonda West, Rotonda Lakes, Rotonda Sands, Rotonda Villas and Meadows and Rotonda Heights.

Rotonda West is further divided into seven pie shaped subdivisions: Oakland Hills, Pebble Beach, Pinehurst, Broadmoor, Long Meadow, White Marsh and Pine Valley, named to emphasize the golf course community.

Rotonda West is the most fully developed and therefore has the most resale homes. Rotonda Heights and Rotonda Lakes also have resale homes while the remaining communities are sparsely developed resulting in few resale homes. Most of the real estate sales in Rotonda Sands, Rotonda Villas and Meadows are vacant lot sales.

There are currently 400 homes for sale in Rotonda, Florida. The price range is $165,000 - $949,900. The median price is $329,000.

The breakdown of single-family home sales is as follows:

11-2006: 17 homes sold, $165,000 - $390,000. Median price: $245,000.

10-2006: 2 homes sold, $213,000 and $235,000

9-2006: 3 home sold, $158,000 - $290,000. Median price: $280,000

8-2006: 4 homes sold, $205,000 - $540,000. Median price: $300,000

7-2006: 7 homes sold, $210,000 -$372,000. Median price: $280,000

6-2006: 17 homes sold, $220,000 - $505,000. Median price: $330,000

Condominiums in Rotonda, FL (Rotunda, FL), FL are mostly new construction with only a few resales. There are currently 60 condos for sale in Rotonda, Florida. The price range is $116,900 - $315,900 and a median price of $225,000.

11-2006: None sold

Five have sold since June 1, 2006, $111,500 - $215,000. Median price: $199,000.

The sale of lots in Rotonda, FL (Rotunda, FL), FL has also been quite slow in 2006. There are presently 1,413 building lots for sale in Rotonda, Florida. The price range is $19,500 for a lot in Rotonda Villas to $189,000 for a lot in Pine Valle section of Rotonda West. The median price is $65,900. For the purpose of this report we have discarded oversize lots and multiple lot offerings. In the many sections of Rotonda, the price of vacant land will vary greatly depending upon age of surrounding homes, number of area homes, size of the lot, etc€¦ Before using this data to value your specific lot, please call or write so we can perform an area analysis. Furthermore, all the high asking prices are outrageously overpriced for today’s conditions. Sales stats tell more of the story.

Sold:

11-2006 – 20 sold, $17,500 – $69,900. Median price: $25,500.

87 vacant lots have sold in all areas of Rotonda June 1, 2006 – October 31, 2006. The price range was $22,000 for a building lot in Rotonda Villas to $132,000 for a larger lot in the new section of White Marsh in Rotonda West.

Your Suncoasteam is committed to finding the best property available to fit your needs. We work for you to get the best deal possible. If you’re not happy, we’re not happy. Please consider Your Suncoasteam when buying and selling real estate in Rotonda, FL (Rotunda, FL).

Andy Leonard and Jim Mulligan are real estate brokers serving Rotonda, FL (Rotunda, FL), FL and the surrounding areas. The following handy links, will take you to our Burnt Store, Florida real estate search of MLS systems. Your Suncoasteam’s MLS search for Rotonda, FL (Rotunda, FL), FL is the most comprehensive service provided by any broker in southwest Florida. Please “bookmark€ this search page and use it as your exclusive source for real estate in Rotonda, FL (Rotunda, FL), FL.
Rotonda (Rotunda) Section:

Rotonda (Rotunda) West:

Condos For Sale In Rotonda (Rotunda) West, Florida

Lots and Land For Sale In Rotonda (Rotunda) West, Florida

Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas:

Homes For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida

Condos For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida

Lots and Land For Sale In Rotonda (Rotunda) Lakes, Rotonda (Rotunda) Heights, Sands, Meadows & Villas, Florida
James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

To follow Rotonda Florida real estate prices 2006 and beyond, visit this site. We will continue to post salses stats. We will also report on South Gulf Cove market conditions. If you need a specific report, please ask.

Homes For Sale In Punta Gorda Isles, Florida

Sales Statistics – Punta Gorda Isles – November, 2006

Posted by Jim Mulligan on December 11th 2006 to Price Trends

Punta Gorda Isles, FL Real Estate

Sales of homes in Punta Gorda Isles, FL have been very slow since January, 2006. There are currently 259 homes for sale in Punta Gorda Isles, Florida. The price range is $209,000 - $5,000,000 and a median price of $590,000. This creates great buying opportunities.

The breakdown of home sales is as follows:

11-2006: 5 homes sold. $415,000 - $750,000. Median price: $480,000.

10-2006: 6 homes sold. $345,000 - $825,000. Median price: $460,000.

9-2006: 5 homes sold, low price, $350,000, high price, $1,155,000, median price, $505,000

8-2006: 9 homes sold, low price, $350,000, high price, $850,000, median price, $540,000

7-2006: 10 homes sold, low price, $400,000, high price, $830,000, median price, $550,000

6-2006: 12 homes sold, low price, $390,000, high price, $1,165,000, median price, $590,000

Sales of Condominiums in Punta Gorda Isles, FL have fared even worse than home sales. There are currently 394 condos for sale in Punta Gorda Isles, Florida. The listing price range is $124,900 to $1,349,000 with a median price of $359,000.

Recent sales of Condos in Punta Gorda Isles, Florida:

11-2006: 2 sold, $280,000 and $550,250.

10-2006: 8 sold, $150,000 - $531,000. Median price: $275,000.

9-2006: 3 condos sold, low price, $215,000, high price, $575,000, Median price, $347,000.

8-2006: 3 condos sold, low price, $210,000, high price, $368,000, Median price, $287,500.

7-2006: 6 condos sold, low price, $199,000, high price, $490,000, Median price, $300,000.

6-2006: 112 condos sold, low price, $199,000, high price, $900,000, Median price, $286,000.

There are presently 262 building lots for sale in Punta Gorda Isles, Florida. The price range is $95,000 - $4,000,000 with a median price of $400,000, unchanged from September. Vacant land is much more difficult to quantify than existing homes or condos, however the number available compared to sales show trends in the market.

Recent lands sales in Punta Gorda Isles, FL:

11-2006: 2 sold, $275,000 and $300,000.

10-2006: 2 sold, $235,000 and $265,000

9-2006: 2 sold, $255,000 and $325,000.

8-2006: 1 sold: $330,000.

7-2006: 1 sold: $455,000.

6-2006: 3 sold: $365,000, $590,000, $625,000.

Andy Leonard and Jim Mulligan are real estate brokers serving Punta Gorda Isles, FL and the surrounding areas. The following handy links, will take you to our Punta Gorda, Florida real estate search of MLS systems. Your Suncoasteam’s MLS search for Punta Gorda Isles, FL is the most comprehensive service provided by any broker in southwest Florida. Please “bookmark€ this search page and use it as your exclusive source for real estate in Punta Gorda Isles, FL.

Punta Gorda Isles:

Condos For Sale In Punta Gorda Isles, Florida

Lots and Land For Sale In Punta Gorda Isles, Florida

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Homes For Sale In Deep Creek, Florida

Sales Statistics – Deep Creek, Florida – November, 2006

Posted by Jim Mulligan on December 11th 2006 to Price Trends

There are currently 343 homes for sale in Deep Creek, Florida. Single family home prices start at $157,000 with a high asking price of $729,000, unchanged from the previous month. The median asking price of homes for sale in Deep Creek, FL is $260,000.

This has created opportunities for those now seeking retirement, vacation or full time homes. Deep Creek also has a nice inventory of available condos and vacant land on which to build your home.

In order to help buyers and sellers better understand the current real estate market, your Suncoasteam has assembled a report of real estate sales in Deep Creek, FL since June, 2006.

The breakdown of home sales is as follows:

11-2006: 15 homes sold, $157,900 - $368,000. Median price: $231,000

10-2006: 11 homes sold, $189,900 - $402,000. Median price: $230,000.

9-2006: 11 homes sold, low price, $178,000, high price, $310,000, median price, $240,000

8-2006: 19 homes sold, low price, $170,000, high price, $399,000, median price, $245,000

7-2006: 21 homes sold, low price, $200,000, high price, $370,000, median price, $265,000

6-2006: 43 homes sold, low price, $209,000, high price, $380,000, median price, $250,000

There are currently 159 condos for sale in Deep Creek, Florida. The lowest asking price is $100,000 and the highest price is $389,900. The median price: $159,900.

Recent sales of Condos in Deep Creek, Florida:

11-2006: 8 condos sold, $150,000, $198,800. Median price: $170,000.

10-2006: 3 condos sold, $105,000, $144,900, $319,900.

9-2006: 19 condos sold, low price, $122,000, high price, $206,000, Median price, $171,000.

8-2006: 14 condos sold, low price, $122,000, high price, $207,500, Median price, $158,600.

7-2006: 20 condos sold, low price, $90,000, high price, $176,500, Median price, $149,900.

6-2006: 14 condos sold, low price, $130,000, high price, $381,000, Median price, $150,000.

The sale of lots in Deep Creek, FL has stagnated in 2006. There is a large area of Deep Creek that has been determined to be a nesting area for scrub jays, an endangered species of bird. Obtaining building permits in an area designated a Scrub Jay Hazard Area can be a lengthy process. It is very important that a buyer of vacant land in Deep Creek, Florida employ a real estate broker with knowledge of Scrub Jay Hazard areas. The real estate brokers of your Suncoasteam have attended seminars on this subject and have a great deal of experience with such properties. We will be happy to discuss your concerns.

There are presently 319 lots for sale in Deep Creek, Florida. The price range is $17,000 - $339,000 with a median price of $60,000.

Recent lands sales in Deep Creek, FL:

11-2006: 0 sold

10-2006: 1 sold, $67,500.

9-2006: 1 sold, $45,000.

8-2006: 1 sold: $50,500.

7-2006: 7 sold: Low price, $45,000 high price, $52,000, median price, $50,000

6-2006: 5 sold: Low price, $58,000 high price, $75,000, median price, $60,000

Andy Leonard and Jim Mulligan are real estate brokers serving Deep Creek, FL and the surrounding areas. The following handy links, will take you to our Deep Creek, Florida real estate search of MLS systems. Your Suncoasteam’s MLS search for Deep Creek and Punta Gorda Isles, FL is the most comprehensive service provided by any broker in southwest Florida. Please “bookmark€ this search page and use it as your exclusive source for real estate in Deep Creek, FL.

Deep Creek Section:

Condos For Sale In Deep Creek, Florida

Lots and Land For Sale In Deep Creek, Florida

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Homes For Sale In Burnt Store Isles, Florida

Sales Statistics - Burnt Store Isles – November, 2006

Posted by Jim Mulligan on December 11th 2006 to Price Trends

There are currently 65 homes for sale in Burnt Store Isles, Florida. The price range is $299,000 - $1,295,000 and a median price of $629,000. This is unchanged from last month. Buyers will continue to find very motivated sellers.

The breakdown of home sales is as follows:

11-2006: 4 homes sold, $410,000 - $575,000. Median price: $520,000. Sales continue to remain slow.

10-2006: 4 homes sold, $340,000 - $990,000. Median price: $776,000.
9-2006: 1 home sold, $750,000

8-2006: 0 homes sold

7-2006: 5 homes sold, low price, $295,000, high price, $699,000, median price, $460,000

6-2006: 1 home sold, $7898,000

Condominiums in Burnt Store Isles, FL are mostly new construction with only a few resales. There are currently 41 condos for sale in Burnt Store Isles, Florida. The price range is $184,900 - $499,000 and a median price of $299,000, unchanged changed from the previous month.

11-2006: none sold

None sold in October, 2006.

Three have sold since June 1, 2006 at $180,000, $242,000 and $407,000.

There are presently 78 building Lots and Land For Sale In Burnt Store Isles, Florida. The price range is $119,900 - $684,000 with a median price of $400,000.

No lots sold in BSI during the month of November, 2006 and only 8 have sold all this year.

Andy Leonard and Jim Mulligan are real estate brokers serving Burnt Store Isles, FL and the surrounding areas. The following handy links, will take you to our Burnt Store, Florida real estate search of MLS systems. Your Suncoasteam’s MLS search for Burnt Store Isles, FL is the most comprehensive service provided by any broker in southwest Florida. Please “bookmark€ this search page and use it as your exclusive source for real estate in Burnt Store Isles, FL.

Burnt Store (Burned Store) West, Isles & Meadows:

Condos For Sale In Burnt Store Isles, Florida

Lots and Land For Sale In Burnt Store Isles, Florida

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Homes For Sale In Port Charlotte. Florida – Northeast Section

Sales statistics for Port Charlotte, Florida, November, 2006

Posted by Jim Mulligan on December 11th 2006 to Price Trends

There are currently 1,804 Homes For Sale In Port Charlotte, Florida.

To bring these numbers into a more usable statistic for the average home buyer we will discuss a common home choice. Many buyers prefer a 3 bedroom, 2 bath home with a pool (not on waterfront). There are currently 294 such homes listed for sale in Port Charlotte. The price range is $119,900 - $674,900. The median price is $250,000.

Sold:

11-2006: 15 homes sold, $186,000 - $307,000. Median price: $215,000.
10-2006: 30 homes sold, $120,000 - $521,000. Median price: $205,000.

Condominiums in Port Charlotte, FL can be a great value. There are many very reasonably priced. There are currently 317 condos for sale in Port Charlotte, Florida. The price range is $62,000 - $750,000 and a median price of $127,000.

Sold:

11-2006: 8- $ 90,000 - $144,000. Median price: $117,000.
10-2006: 7 - $73,000 - $121,000. Median price: $84,900.

The sale of lots in Port Charlotte, FL has also been quite slow in 2006. There are presently 1,548 building lots and land for sale in Port Charlotte, Florida. For the purpose of this report we will consider ONLY lots with public water service. It may be possible to find lots that require a well for somewhat less money. The price range for lots with public water service is $19,000 - $1,950,000 for a lot in gated Grassy Point with spectacular view of Charlotte Harbor. Median price: $47,000. Keep in mind that waterfront lots or extra large lots sell for quite a bit more than a standard, neighborhood dry lot.

Sold:

11-2006: 13 - $17,000 - $120,000. Median price: $25,900.
10-2006: 14 - $24,375 - $165,000. Median price: $25,000.

Andy Leonard and Jim Mulligan are real estate brokers serving Port Charlotte, FL and the surrounding areas. The following handy links, will take you to our Burnt Store, Florida real estate search of MLS systems. Your Suncoasteam’s MLS search for Port Charlotte, FL is the most comprehensive service provided by any broker in southwest Florida. Please “bookmark€ this search page and use it as your exclusive source for real estate in Port Charlotte, FL.

Port Charlotte Section:

Port Charlotte – Northeast:

Condos For Sale In Port Charlotte, Florida – Northeast Section

Lots and Land For Sale In Port Charlotte, Florida – Northeast Section

Port Charlotte – Southwest:

Homes For Sale In Port Charlotte, Florida – Southwest Section

Condos For Sale In Port Charlotte, Florida – Southwest Section

Lots and Land For Sale In Port Charlotte, Florida – Southwest Section

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Transfer of Homestead Exemption

Posted by Jim Mulligan on December 05th 2006 to House and Home

In the Charlotte Sun-Herald, Derek Dunn-Rankin, founder of the newspaper, wrote and interesting article, Forecasting home prices. A reprint of this interesting article can be found on our website. The article spoke about the changes in real estate pricing in this area but he also wrote about insurance and homestead exemptions.

Homestead exemptions to resident’s property taxes have been a savior to many Florida homeowners but it can be a double edged sword. A homeowner may feel stuck in a home, unable to sell and move to a smaller home because the property tax would increase. There is a movement underway to allow the transfer of one’s Homestead Exemption.

Your Suncoasteam Brokers have opinions about this issue. We believe it would be a great advantage to allow one with a current Homestead Exemption to transfer it to another property if an owner wishes to change residents. A transfer of exemption could be done in several ways and we encourage discussion on this topic.

We believe that the state and counties will not lose money if such transfers were allowed. The state makes money when a deed is transferred and if a mortgage is taken, the state collects stamps tax on mortgages. A buyer of the transferring property will pay tax on the currently assessed value (unless they are transferring) and the tax roll will realize a net gain.

If a person downsizes, a transfer could work like this:

Assume that a Homesteader sells a property valued at $300,000. They have lived there for ten years and the assessment for tax purposes is $100,000.

They purchase a property for $100,000 with an assessment of $70,000. The buyer assumes the current assessment.

Another way of figuring could be that the buyer brings the assessed value from his current property so that they will pay no more tax than they currently pay.

When moving up the calculation is more difficult. If a person sells a $100,000 homestead to move to a $300,000 homestead, that person should have the means to afford a more expensive assessment. Nevertheless, there should be some ability to transfer at least a portion of the current homestead assessment.

Please add your comment to this important issue.

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

Visit our Suncoasteam Blog to read discussions on local real estate trends and reports on prices of land in homes in our area€¦ and you can leave your own comments or ask questions.

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Rotonda Lakes, FL Corner Lot For Sale

Posted by Jim Mulligan on December 05th 2006 to SW FL Land

CLICK IMAGE TO ENLARGE

Corner lot in popular Rotonda Lakes. Water and sewer, close to 771 and 776 and an easy drive to Englewood Beach and Port Charlotte. Rotonda Lakes, Florida is just to the northeast of Rotonda West circle. There are 6 golf courses in and around Rotonda and more close by. One could play a different course each day of the week and drive only five minutes. Drive 1/2 hour and play a different course each day of the month. Boating and sailing is nearby in Lemon bay or 10 minutes to the Boca Grande bridge for fine dining and great beaches.

This corner lot is 125 x 75 with a greenbelt to the east. Add the greenbelt and corner right of way and you have a huge effective lot size of 170 x 100! Construction has really taken off in the area and newer Rotonda homes sell for $400,000, $500,000, $600,000 and even $700,000! Prices have fallen recently, so this lot is competitively priced at $59,900, well below other lots in Rotonda Lakes and Rotonda West. If you want a great building lot in this area, you MUST look at this one! You will find no better!

James B. Mulligan, Licensed Real Estate Broker
18245 Paulson Dr.
Port Charlotte, FL 33954

Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

Questions sales@suncoasteam.com

featured Properties:
Featured Homes and Lots For Sale In Southwest Florida, Florida

Sellers – Know what your Southwest Florida home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.