New Port Richey, Florida Real Estate Blog: Florida: New Port Richey

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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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.

Fallout from the Cotee River Bike Fest in New Port Richey, Florida

Well folks, last year the New Port Richey City Council voted to allow Beer & Wine to be sold in Sims Park during 5 special Events, including Cotee River Bike Fest, as a temporary measure set to expire this year.

• Opponents say alcohol takes away from the family feel the park is supposed to have.
• Proponents say the vendors doubled their income, benefiting three non-profits, and drawing more sponsors.
• Police reports there were no Alcohol-related incidents, which was one of the main reasons some oppose it.

As of the 2000 Census the population of New Port Richey, Florida was ~26,000. Well the Cotee River Bike Fest turned out over 35,000. I would say that is a good turn out. I personally love the bikes, but the music and snacks would please most the rest. 

And so long as public intoxication is kept under control, I see no reason why the New Port Richey City Council should not be made permanent, and possibly expanded to all events.

If you have never been to the Cotee River Bike Fest I suggest you click on the link and review it, and than mark your calendar for next year.  You will not be disappointed

5th Annual Cotee River Bike Fest of 2009 at Downtown New Port Richey, Florida has arrived

Initially conceived of by the New Port Richey City Manager & Mayor, the West Pasco Chamber of Commerce answered the call and coordinated with Bikers to bring this great family event about.  This year it runs from Friday October 9th through October 11th.  The hours are:

Fri: 5pm to 10pm

Sat: 9am to 10 pm

Sun: 9am to 4pm

at Beautiful Sims Park, as well as the surrounding Downtown area of New Port Richey.  For a detailed map of the area, and more importantly where to park, please click here.  

As you may recall, or for those who have yet to experience it, this a tremendous event and convenient parking is VERY LIMITED compared to the size of the crowd The Cotee River Bike Fest draws.  So get there early, or have someone drop you off and later pick you up, or perhaps take public transportion.  Otherwise you will be in for quite a walk.

The Headlining Entertainment this year is

The Jimmy Sparks Band     Fri night 8 - 10pm

&

Bobby Friss Band               Sat Night 8 - 10pm

Both Headliners will be appearing at the Sims Park Amphitheater

Don't forget to look into all the acts including those playing on the Grand Blvd stage to the south

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I doubt it needs to be mentioned, but on the off chance you are not familiar with Sheriff Bob Whites Charity Motorcycle ride you might want to click here to find out about his 50 mile ride that you are welcome to take part in through the beauty that is West Pasco, Starting at Gulfcoast Harley-Davidson in NPR on SR-54 and ending at the Festival

At the Cotee River Bike Fests Website there is a complete list of events including concerts on the Grand Blvd Stage to the South.  So be sure to print yourself a copy, and than visit the sponsors as well.  Enjoy yourselves, don't drink and drive & maybe I will see you down there at the Cotee River Bike Fest, whether you are taking in the pleasing sounds of The Jimmy Sparks Band, Bobby Friss Band  or one of the other numerous bands and events, I hope you enjoy the Cotee River Bike Fest

THIS LISTING HAS, SINCE PUBLICATION, EXPIRED.  

FEEL FREE TO CONTACT ME TO DETERMINE WHO CURRENTLY HAS THE LISTING.  

Huge Price Reduction On New Port Richey Waterfront Real Estate by a Hudson Florida Realtor

For full details & pics/satellite/birds eye view ----> http://5525bamboo.lovethegulf.com

Waterfront 1920s estate on the Cotee River! This sprawling Spanish style historical treasure is just the perfect example of a past where elegance and waterfront entertaining are a way of life. This home boasts French doors leading to a beautiful veranda with fountain overlooking the pool, patio with tiki bar, screened cabana, covered dock and boat lift. The many features of this home include chandeliers, hardwood floors, butler quarters, sun-room and open hearth fireplace. You will also find GE monogram appliances, chestnut and hickory wood flooring, granite in the butlers pantry and travertine marble in the master bath just to name a few elegant updates. This renovated home offers 5 bedrooms with two master suites, and 5 and 1/2 bathrooms. A private studio apartment for guests. This is the Florida lifestyle that we all miss so much. Please make an appointment to see this lovely estate today.

now offered at $999,000

For full details & pics/satellite/birds eye view ----> http://5525bamboo.lovethegulf.com