New Port Richey, Florida Real Estate Blog: Florida

It is time for Chasco Fiesta!!! Get your party on starting March 18th - New Port Richey, Florida

Well it is that time of year again, and with all the cold weather we had this winter, it is just another sign of spring in Florida.  Chasco Fiesta is one heckuva good time.  If you have never been, and I find  that hard to believe, you really need to treat yourself to atleast a few activities over the many days.

Who doesn't love a parade.  Apparently everybody loves parades so much they are going to have a street parade as well as a Boat parade.  Both are spectacular.  But if that does not tickle your fancy, how about Car Show?  or the Truck Show?  C'mon everybody loves a Bike Show, right? Chasco Fiesta is where everyone you know will be.

Would you maybe prefer something more low key?  How about the arts and crafts or the Flea Market?  Maybe you would like to watch a Children's Pageant.  Do you love gardening? Because the New Port Richey Community Garden is looking for volunteers and visitors.  Read their blog HERE to find out more

A good time is guaranteed to all.  Or better yet, maybe you can volunteer.  We all know how much the economy is hurting, and this could just be the shot in the arm we need.  What makes you feel better than social events?  I would say Volunteering at Chasco Fiesta.  Doesn't cost you anything but time, and it will be a good time.  Check out New Port Richey's Chasco Fiesta website Here.  It has been happening annually since 1947,  so join the fun and if you see me do not hesitate to say hello.  I do not bite, but I may nibble a bit :)

March for the Parks 2010, Jay B. Starkey Park, New Port Richey, Florida

Saturday March 13th at Jay B. Starkey Park will be where it is at.  And it looks like some fabulous weather for the event too.  Forecasts currently have the thermometer approaching 70* with lots of Sun and only a 20% chance of percipitation.

So pack up the family and head on down to New Port Richey's Starkey Park for lots of activities.  You can have fun hiking, biking, or kayaking.  It will also feature some Green educational areas.  Stop by there and learn more about recycling and Rain Barrels.  My mother loves her rain barrel as an extra source of water for the garden.  With the tough water restrictions our yards endure, it only makes sense to make the most of every raindrop, that we can.  So come on out from 12 to 4

And a way to expand the day was to include West Pasco Audubon's "Natural Florida" Photo Contest.  Winners will be announced at Jay B. Starkey Wilderness park.  There is a $4 entry fee per photo.  For detailed information, get it from the horse's mouth.

January 2010 Real Estate Market Update - Gulf Harbors, New Port Richey, FLorida 

Market numbers for the month of January could be interpreted as a pretty poor snapshot of Gulf Harbors, but I would suggest we keep in mind that this is usually a slow time of year.  

Also, while the home values have been steadily dropping in New Port Richey, Florida it is also true that inventory levels have shot up in the last few weeks.

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Spectacular Clouds at Sunset at Hudson Beach, Florida

I believe I have previously mentioned, that while I am trying to build my Real Estate presence in New Port Richey, that I was kicked out of New Port Richey Parks just before, or at, Sunset.  That is not very conducive to Sunset photos that really should contain videos of the span of time, or at least before during and after shots of sunrise.  

Afterall some of the most spectacular scenes I have personally viewed occured AFTER SUNSET.  The light of the set sun reflected back to earth (my eyes) off the clouds after sunset usually releases a much wider range of colors & contrasts.  So as the parking lot/beach empties I continue to shoot.

For this segment I must admit I had not planned on going to shoot sunset pics, but as I returned from the shopping plaza I could not help but notice the spectacular nuclear explosion of colors to the west.  I knew it was after sunset, but thought maybe, just maybe I would snake a few good pictures after sunset.  I will leave you to be the judge.  Enjoy, with my complments

I saw that I had to capture tonight on Film

thought this was amazing

lets point south and see what is going on

with Flash showing where I shoot from on Hudson Beach Pavillion (show stopper)

The Paviollions for the Best Pics in Hudson or West Pasco County

Let the Sunset Continue

Spectacular Colors

and what a spectacular view

In conclusion, and going forward, I want all to know that my pictures, unless otherwise stated are posted in order of time taken.  Blurry photos may be deleted, but they are always in proper sequence.  This fact I am using to learn how to better use my Camera.  In these situations, I use the Landscape Setting, with the flash turned on (which my camera determines whether it is used) and a 10 second countdown setting so I do not ruin the picture.

I saw a phenomenal picture of a scene in Ireland.  However what I learned is far above my education level.  The photographer stated she had taken the Same Picture 3 different times with 3 different settings to produce 1 picture with phenomenal foreground/background/picture in general.  Something that can not be achieved by the average Joe.   My pictures are of/by/for the Average Joe, so enjoy

I am also working on putting together the perfect video camera on a tripod with a room panning hardware for smooth panning shots for the video tours my other company does.  All things in their own time, for now Enjoy another Peaceful Sunset on the Gulf of Mexico 

Enjoy a Sunset on the Gulf in Hudson Beach, Florida

I have shifted my focus to New Port Richey, but unfortunately the Parks department seems to start there.   They close Green Key park at sunset so it ruins my pictures/video.  So I have returned to Hudson Beach for my video of Sunsets.  Hopefully this will remain a successful site, although to date, the sun is setting behind some land, instead of over the gulf.  

I also need to point out that this is only the 2nd video I have recorded for commercial reasons.   Up until now I have only promoted my listings with no party fouls.  Yet here we are

New Port Richey, Florida Real Estate Market Report for January 2010

First picture below is the Comparative Market Analysis for ALL Sold waterfront Gulf Access homes in New Port Richey.  Only 4 sold, but they did so in a respectable amount of time, and for ~90% of List Price.  So if a house is priced right, as you can see, it moves within ~3 months.

Next we have the general breakdown of the New Port Richey Single Family Real Estate Market graph.  Here we see that New Port Richey has 11 months of Houses on the market, which isn't too bad considering there has been a spike in inventory in most areas of the state.  The disparity between the # of houses under contract compared to how many actually close will be more clearly defined in the last graph.

This is pretty typical of most markets these days.  Distressed properties take much longer to close typically, compared to a traditional sale.  Distressed homes account for less than 1/3 of the Homes For Sale Market.  However when you move up the chart below to the Houses under contract you will see the  Distressed Properties are ~60% of the market.  But than when we look at what has sold the ratios revert back.  Only about 1/3rd of the houses that Sold were Distressed.

I am just a Local REALTOR®

The information I have provided above was generated from my Local MLS.  It is believed to be accurate but is neither guaranteed nor warranted.

Welcome to Sunsets at Green Key, New Port Richey, FL.

Those who have read me regularly know that I have recently had to change from Hudson Beach for my sunset photographs to Green Key in New Port Richey.  Reason being that the Sunset has fallen behind the Sea Ranch Subdivision.  As a result I have moved to Green Key in New Port Richey.

More important than that, I recently did an annual market report for New Port Richey, West Pasco County, FL and I was shocked to find out that 1 out of every 3 Real Estate Transactions in West Pasco occurred in New Port Richey. Now I knew New Port Richey was large compared to the other towns in my service area, but I had not thought it was the epicenter.  As a result, I have changed my target market from Hudson, where My office is, to New Port Richey as that is where the business is.  Nothing personal, it's just business.  Smart Business!

Now the Sunsets

New Port Richey, Florida Real Estate Annual Market Report 2009

Unlike most other reports I blog, these Statistics include ALL Residential Property Sales:

Single Family Homes, Townhomes, Condos & Mobile Homes.

Here are the numbers from 2008 for comparison to 2009 which are in the 2nd graphic.  First thing that jumps out at me is that the Average Sold Price to List Price (SP/LP) ratio was 93% in New Port Richey just like Hudson, Port Richey & West Pasco County as well.

Next thing that gets my attention was a Sale for $10.87/SqFt.  LOL.  That is some real bargain basement shopping.  Usually the land alone is worth more than that.  What  a steal.

Number of Sold listings is rather telling too.  Twice as many homes sold in New Port Richey than in either  Hudson & Port Richey &  New Port Richey accounts for ~1/3rd of homes sold in West Pasco County

Well compared to 2008, 2009 has doubled its Lowest Sold price, which is not hard to do when you go from $6,000 to $12,000.   But the lowest SP/SqFt is still under $11/SqFt.

IN 2009 we saw an increase  of ~16.6% increase in units Sold, as well as ~16% decline in the average List Price to $132,029, but more importantly the average Sold Price is down ~17% to $121,854.  Prices in New Port Richey Real Estate are looking very attractive.

Surprisingly though the Days On Market (DOM) increased by ~9% from 93 days to 101.  Overall, between the bargain basement Prices, Tax Credit & a growing sense that the economy is going to recover, are making for a more positive outlook going forward.

Port Richey, Florida Annual Real Estate Market Report 2009

Well First thing that grabbed my attention was that once again the Sold Price to List Price ratio (SP/LP) is 93% again.  Another thing you will notice is how low the average list price and sale price is.  This has the most to do with the fact that Port Richey have Very Little Waterfront Gulf Access properties to perk up the housing prices. On top of that, most of the properties are actually just in Pasco County as opposed to in Port Richey.  The town of Port Richey is for the most part the commercial area's on US-19 & Ridge Road.

I think you will be very surprised to see the dramatic drop in prices year over year.

In 2008 the average List Price was $96,000 but that dropped to $75,000 in 2009 (a 21% drop)

Whereas average Sold Prices dropped from $89,522 in 2008 to $69,914 in 2009 (a 22% drop)

The Big Picture turn around as far as Port Richey Florida is concerned is the 14% increase in sales from 2008 to 2009.  So unlike Hudson Florida's Annual Market Report,

Hudson, Florida Annual Real Estate Market Report 2009 vs 2008

This Market Report includes ALL Residential Properties that Sold in 2008 & 2009 including:

Single Family Detached Homes, Townhomes, Condo's & Mobile/Manufactured Homes

Things looked much better in my West Pasco 2009 Annual Market Report than it does for Hudson.  Which is due mostly to the fact that Hudson is the farthest point in the county from the Jobs, specifically Tampa/Clearwater/St. Pete.  As a result the Market is under more duress the farther you are from the hub of the Metropolitan Statistical Area and the jobs

What you should notice right off the bat, is that Sales are prtty much FLAT.  608 in 2008 vs 611 in 2009  which is a net 0.5% increase in Solds.   In other words the difference in Volume of Solds is negligible year over year.  However, what is good, and not shown in the Sold numbers is that The Inventory Levels have dropped dramatically.  

As is to be expected in this market in the State of Florida

The Average List Price Dropped from $140k in 2008 to  $121k in 2009 (a 14% Decline)

The Average Sold Price Dropped from $130k in 2008 to $111k in 2009 (a 15% Decline)

The Average List Price per Square Foot (LP/SqFt) dropped from $91 in 2008 to $77 in 2009 (a 15% Decline)

The Average Sold Price per Square Foot (SP/SqFt) went from $84 in 2008 to $71 in 2009 (a 15% Decline

On Average houses are actually staying on the market longer in 2009 than they did in 2008. (a 22% Increase)

Surprisingly the Average Sold Price to List Price ratio (SP/LP) remains at 92%.