New Port Richey, Florida Real Estate Blog: Florida: Hudson: Leisure Beach

Leisure Beach, Hudson, Florida November Distressed Home Market Report

Poor Leisure Beach.  NO SALES AGAIN.  Bright spot is that there are ~300 homes in the Leisure Beach Subdivision so there is a low percentage of homes on the market.  But worse than that is of the last market report there were 2 homes under contract, whereas now there is only one under contract yet nothing has sold, and 2 homes are no longer active.  So it appears a total of 3 homes have been taken off the market.  Could be that presently Banks make more money on Foreclosures than on Short Sales, but hopefully that is going to change soon

 

 

What can I say, Waterfront Gulf Access properties are a tough sell these days in Hudson, Florida.  About 1/3 of the homes for sale are Distressed properties.  The only property under contract is distressed, and nothing sold in November.  Now the Actives are down from last month, the properties under contract are down from last month as well, and finally the No Solds is the same as last month.  

 

Of the homes for sale the Prices break down like this

Total Price Range                     $130,000 - $379,000

9 homes are listed for under                     $200,000

7 homes are listed for between $201,000 - $300,000

1 home is listed for                                  $379,000

1 home under contract is listed for             $130,000

all 6 distressed homes are listed for        < $200,000

 

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September 2009 Leisure Beach Subdivision, Hudson, Florida Single Family Residence Real Estate Market Report

 

Well unfortunately the Inventory available in Leisure Beach has increased by 2 since last month. 

Another thing is that the increase in the Actives, which was last month there were 4 homes under contract, now there is only 1, but only 1 sold last month.  The one that sold was not in any stage of Foreclosure.  The ones that fell apart last month, probably were

I do not know about you, but I think a Water Front Gulf Access community like Leisure Beach in Hudson, Florida available for approximately  $100/sqft is a steal.  Forget about that one available for $75/sqft.

 

 

 

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Leisure Beach, Hudson, West Pasco, Florida August Distressed Home Market Report

 

Well this Hudson, Florida Realtor was at first very discouraged at seeing these Charts I created using data from The West Pasco Board of Realtors MLS site. The first thing that jumped out at me in these charts was how many more homes are under contract than closed in August 2009.  Now do not read too much into that.  I think that has alot to do with Distressed Homes (Short Sales.)  

You see a normal property in Florida closes in about a month.  However, some banks have been taking up to 90 days to close in some cases.   However, when it comes to short sales they typically take 4-5 months to close, so they build up a back log.  On some occasions it closes in a month, in others it takes even longer, but 4-5 months is the norm these days.  And this creates a backlog in the MLS in the Active with Contract and Pending Sale categories. So it is not as if September is going to be spectacular based upon how many properties are under contract.

Now you can see that Hudson is pretty similar to West Pasco in general.  There are 10 months inventory in the Hudson Real Estate Market.  And while only 38 homes sold in Hudson for the month of August 2009, which equates to just barely more than 1 house per day closing, this Hudson Florida Realtor sees it as over 70 sides of a deal to get in on, not to mention alot of great oppurtunities for a Home Buyer, especially with the $8000 First Time Home Buyer Tax Credit (which is actually only a 10% credit, with a limit of $8000)

Sadly, one of my favorite Subdivisions in Hudson, Florida had no sales at all in August 2009.  Leisure Beach has 23 homes for sale presently, but only 4 people took advantage of the great values available in August, half of which are Distressed homes.  Unfortunately none of them have closed yet.  And as every Realtor knows, and most buyers, until it closes, it has not closed

August 2009 West Pasco, Hudson, Leisure Beach Florida Real Estate Market Report

 

Overall Market Snapshot

Overall Inventory levels have dropped, but so has the Number of homes selling.  But everybody is getting ready to go back, or already is back to school.  The amount of properties sold that were distressed has dropped.

 

West Pasco Single Family Market Report

 

 

West Pasco Condo Market Report

 

 

West Pasco Mobile Home Market Report

 

 

Hudson Single Family Residence Market Report

 

 

Hudson Florida Condo Market Report

 

 

Hudson, Florida Mobile Home Report