How To Make A Fair Offering Price On A Home In Punta Gorda Isles (And Make The Best Deal)?
This is a question that anyone ponders when making a house purchase. However, when purchasing your waterfront dream home there are many considerations that come into play. Everyone buying a home wants to buy low and everyone selling a house wants to sell high! No big surprise there, however my goal in representing you as a Buyers Agent is to get you the absolute lowest price for any given home. Please be aware that 95% of the agents in the county will represent the transaction (Transaction Broker) and not you as a buyers agent. With that said, there is a big difference. There is a lot of value in having an agent that really knows the market and what determines value, and in reality most agents are inexperienced and have weak negotiation skills, most are part timers as well. Once you get to know me better you will soon discover that I have a long background in real estate and make better deals for my clients because I do the background work to know how to approach the individuals involved in the sale and know what things are worth.
The starting point in a real estate transaction is to understand value and it is quite complicated in Punta Gorda Isles. Punta Gorda Isles (PGI) has several distinct areas that each represent different price points just in location, regardless of the house and then there are subsets within each area that determines value.
What Determines The Value Of A Home In Punta Gorda Isles?
Let’s talk about each area within PGI in a bit of detail.
- Power Boat Section: Generally thought of as the most economical section that is bounded by the streets of Coronado to the west, Aqui Esta to the south, West Marion to the north (extended eastward on Henry St.) and Magdalina to the east. Within the power boat section some areas are generally more sought after because of their location to the harbor with a shorter boat ride being more desirable and other areas more desirable because it’s a quick walk to downtown Punta Gorda or to Fisherman’s Village. I will be able to help you understand on a case by case situation as to which homes are worth more and why.
- Original Sailboat Section/Old Sailboat Section: Either name is correct and this was the first phase of development in PGI which are the canal systems to the north of West Marion. They are shorter canals, deeper in general and the fastest access to open water in the entire neighborhood. This area also has the oldest homes mixed in with homes of all ages. You will find a 60’s built home situated with homes in the 80’s and on up. With that said this also the most expensive location if for no other reason that is known for having the deepest waters. The sailors or yacht owners who have a draft that is at 5-7 feet will often consider this area first. Many realtors and property owners will tell you this is really the only option for sailboats with a draft of 5 feet or more in PGI but that is simply not true. More to come on that. It is true that some of the canals in the original sailboat section have extra deep water (not all) and might be a better call for you if you are drafting 6 feet plus. Either way, raw vacant land here sells for more.
- PGI SouthWest Sailboat Section: To understand this area of PGI you need to know the boundaries. West Marion to the north, Coronado to the east, Deborah to the south and Colony Point to the west. The water egress to this area is from Ponce de Leon Park. Mitigating MLW depths are reported by the city as 6 feet MLW and I have verified this repeatedly to be accurate. Check out my depth sounding measurements on this website which also includes boat ride times. In general, most of these canals are deep water (with some reaching over 15 feet) with the mitigating water depths in the Ponce channel. Time from your home is generally 10-15 minutes into Ponce with some a bit longer. With that said, it is fast access, newer homes in general and offers just about everything that the original sailboat section does.
- PGI South Section: Bounded by Deborah to the north, Bal Harbor to the east, Almar to the south and the rim canal to the west. This is a large area that exists out to Ponce inlet. Because of its size some homes have longer boat rides than others and this is a factor in determining value. Water depths here are plenty good with 8-15 feet in some sections not uncommon. Generally, newer homes built from the 80’s on up.
- Bird Section: This area has every street named after a bird. It was the last area to be developed and is the newest looking area and compares to Burnt Store Isles in appearance with many newer homes here. It also comes with the longest boat ride out passing through Ponce channel to gain access to the very top of the harbor. Boat ride times can range from 20 minutes to 1 hour to the channel so there is a price correlation with this. There is a secondary passageway out to Alligator Creek for a shallow draft boat that cuts the boat ride time in half. The city has been trying for years to get approval for a permanent deep water cut to Alligator Creek to reduce the boat ride time out. No one can predict if this will ever happen or if it will really help property values out. I can share much more insight into this with you as I know a good bit about what is going on.
What Else Helps Determine Value in a PGI Home?
There are few other places that have a list of variables that affect value like Punta Gorda Isles. Fifteen years of selling in PGI and endless research on the housing market and the waterways (and of course over 500 sales in the area) have made me an expert in waterfront home purchases. Let me just name a few of the variables that are to be considered when making an offer: Seawall length, location of seawall on a canal, southward facing vs. northward, east or west view, canal width, turning basins, view of condo complex, view of old houses, view of new houses, busy street versus busier streets, one story home versus two story home. Boat lift?, how large is the dock or perhaps no dock and you can see the list goes on and on. Call me when you are ready to come live the dream and I will be sure you get exactly what you are looking for with no surprises. You need a home for you and your boat! Call The Captain! 941-628-8040
How Do I Factor Zillow Values Into Making An Offer On A Home in Punta Gorda Isles.
Many customers come to town using Zillow as a source of information. In many ways Zillow is very good. However, when it comes to determining value it offers little help. Simply because of the variables mentioned above cannot be taken into consideration when looking at raw statistics.
How To Use Square Footage To Determine If A House Is Priced Correctly In Punta Gorda Isles?
A classic point of measurement in homes is the square foot price. Modern MLS sheets include this information for each house. You can look at 5 different homes with all of the same basic criteria such as: similar age, square footage, with a pool, 80 feet of seawall, 2 car garage, 2 bathrooms. You will also find a large variation in square foot price between each. Because there are so many variables as mentioned above, I generally find a square foot analysis of no value unless everything is nearly identical on each house. An identical home on a 30 foot lot versus one on a 120 foot lot would show as the same value on Zillow but of course it is not. With that said, use this metric with caution.
