Port Charlotte FL
I have a investment house being built in Port Charlotte FL it just got permits. I called the builder to see what kind of delays I could expect but I really didn't get a answer. Does anyone know how the market is there now and how it look for the upcomming months?
I would think that if the city doesn't hold up your permits in the post-charley time you will do quite well. I have some experience with the Port Charlotte market 6 or 8 months ago but that is not the market of today. Bottom line no-one knows what the market of today is because such situations are each unique some markets bounce back pretty quick others take years and years.
That said. If you can actually start construction soon you stand to be well-positioned with one of the first new houses in a market where lots of housing units have just disappeared-- i.e. lots of demand not much supply.
On the other hand, expect construction delays and cost increases. There will be major skilled labor and materials shortages in the area for months. The permitting agencies will be swamped, so to speak, and there is usually some "evaluation" period while they think about what the new strategy is.
hi, i am building my first spec home here as well AND I am building a new primary residence. You are lucky to have your permitting, they are currently not permitting new construction right now to help faciliate REBUILDING the area. I am sure that moratorium will be lifted soon. I live in a booming area here in charlotte county and there are plenty of laborers and cement trucks NOW, I think you should be ok. It is when new construction AND rebuilding have to compete for laborers that you may see some slow down and some delays getting products. Most builders and contractors are VERY busy here.
Good Luck!
christine
I am building two homes in Charlotte County, FL, a primary residence and a spec home. These are single family residences. So far, since I signed my contracts in August, one house is up in price $15000 and the other one $42000 (these numbers are the increased asking prices for the models I bought). These price increases are on top of the land values going gang busters around here. The builders seem to be raising the home prices every month because of demand, supplies and labor costs (so say the builders). How is your spec coming along?
Hi,
You mentioned Charlotte County .....could you give me the name of the development that you invested in....I'm currently lloking for investment in FL......
Thanks,
JP
It is scattered lot building.
you can still find deals here in the area, but they are scattered about. I closed on two lots yesterday buying them for 50% of FMV. I have two more under contract for also for 50% off FMV. I plan to flip the lots, but many people build spec homes on them. I plan to do one spec a year if possible. There are other threads on pre-construction in Florida.
Just find an area and start calling owners or writing, there is no ONE area. I like Sarasota and Charlotte county west of 75. Good Luck![ Edited by thechangingtable on Date 11/18/2004 ]
Centex Homes and Adams Homes are building on scattered lots in North Port and Port Charlotte.