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

Homes For Sale in Golden Acres, New Port Richey, Florida & June 2010 Market Report

Well now things are not looking too bad in Golden Acres if you exclude the price declines.  Nine months inventory levels is not idealistic but is better than some areas.  What I think makes an even better impression is the chart below.   The low number of distressed properties for sale, I think, tells you about the people living in Golden Acres in New Port Richey.

With only 5 Homes for sale in Golden Acres in New Port Richey under distress, compared to 31 non-distressed is a much lower than average ratio than the rest of Pasco County.  I would like to see more homes under contract, but at least they are closing on some

You will also notice (in the SP/LP - sold price to list price ratio) the homes are not selling a a great discount.  The houses that are selling are priced right.  I am guessing the one on the market for over 2 years (802 days) is not property priced.  I am shocked that they actually is a home for sale in Golden Acres in New Port Richey for less than $100,000

Golden Acres Estates, New Port Richey, Florida Distressed Real Estate Property Report April 2010

Once again we have no sales in this wonderful community, which surprises me because of the tremendous values not seen in Years.

We see a slight uptick in Properties for sale, while there was a decrease since March's report of Homes under Contract.

And again we see most houses for sale are not distressed, yet most homes under contract are distressed.

Distressed Properties are properties in some stage of Foreclosure, be it Pre-Foreclosure, In Foreclosure, Short Sale or a Bank Owned Foreclosure (REO)

Now we can take a look at the total Golden Acres Estates Market.  It's lows, highs & averages.  First off, I just can not believe the List Price Per Square Foot prices (LP/SqFt).  To not only be under $100/sqft, but to be so far under $100/sqft.

Lastly I will leave you with a map of the community

 
View Golden Acres, New Port Richey, Florida in a larger map

Property for Horses in New Port Richey found in Golden Acres Estates

That is right folks.  If you own a horse or are looking to get one after you move, Golden Acres Estates may just be the place for you.  There are many lovely homes with acreage in the Subdivision.  This is no cookie cutter subdivision of straight parallel & perpendicular roads and unlike a lot of Florida it also has rolling hills.  Many of the beautiful lots have water frontage or a water view and pools are popular as well.

What I like best about Golden Acres Estates is that it feels like you are living in the country but you are only a few minutes from the mall, just a couple of miles to the nearest beach where you can enjoy a spectacular Sunset into the Gulf of Mexico.  Near this beach is a public launch for your boat as well.  When Publix decided to build on the Western Side of the Subdivision they put a rear access road into the subdivision so you never have to leave the community to do your shopping at Publix or one of the many other stores in the strip mall.

Best news I can give you, if you are interested in Property for Horses in New Port Richey, is that Golden Acres Estates is having not been this affordable in many years.  It used to be you could not get in there for under $300,000.  With the market correction a house with acreage just sold for just under $100,000.  I had the pleasure of showing that home which was heavily damaged as a year earlier it had been raided because it was a marijuana grow house.  So the neighborhood has already been cleaned up for you and your country paradise awaits you & your horse, while remaining in the city limits

Golden Acres, New Port Richey, Florida Distressed Real Estate Property Report

Well the Sad month of February saw no Sales in Golden Acres.  While there are some propeties under contract, there we no closings.  Good news though is there are only 28 homes for sale with 4 homes under contract.  There is not much inventory, but it is being held up by Distressed properties.

Funny how there are more distressed homes under contract than there are distressed homes for sale.  And hte overwhelming majority of homes for sale in Golden Acres, New Port Richey are NOT distressed.  That is good news in the big picture, despite the lack of sales.

Now, below, we deal with the overall state of the Golden Acres subdivision in New Port Richey, Florida.  Before the market crash, you could not step foot in Golden Acres with anything less than $300,000.

Now you can buy into the acreage subdivision starting at $125,000 which would be a 2 bedroom & 2 bath home.  The highest price of home available is only $649,900.  Now if you look at what is under contract/pending sale, you will see most people are currently bargain shopping, in my opinion.

This is just another reminder that just because you have a contract on a distressed property does not mean you will get to close on it, much less move into it.  Make sure you are using, not only a licensed professional, but a Realtor who is experienced in this situation.