Cost to own at Venetian Golf and River Club

One of the questions that is asked by clients the most:
What are my expenses to own a home in Florida? Florida offers communities that are not as common in up North. The most used terms and names of communities are HOA’s, CDD’s, Condo Associations, PUD’s, Maintenance Free, Gated, Attached villas and Detached villas. This becomes very confusing for many clients.

The best way for me to explain would be to use examples of communities.

Here is an example using Venetian Golf and River Club Grand Villa Series.

Venetian Golf and River Club Grand Villas
HOA Fee $736
Includes Guard gated access, security patrol, irrigation, basic cable

Sub Association Fee $1,700
Includes Lawn Care and Irrigation

Venetian CDD $3,427
Common Maintenance, Sidewalk and Road Repair, Area Lakes, Entry Feature and Street Lighting. River Club, Fitness pools and Restaurant, Amenity and Expense Fee

Millage Rate for taxes 1.65%

For a $300,000 home for example your taxes would be approximately $4,000 plus CDD.
Add all of this together about: $9,900.00 “$825 per month”

For more details, give Mark a call at 941-408-5326

Venice Florida inventory of homes

Why inventory of homes for sale is falling in Venice Florida.

When I arrived in Venice Florida back in 2004 I was amazed at the low inventory.  In early 2005 there were more agents in town than properties on the market.  Starting in August of 2005 the market started to change…South West Florida was one of the first areas to notice the effect of the slow down and inventories started to grow out of control reaching over 3,000 units for this area.
Inventory levels rose mainly due to demand going down in Venice.  In 2002, 2003, 2004 and 2005 there was an average of 2,035 units selling each year in our mls.  This isn’t counting the 100’s of new homes and condos being built in that time frame as well.  From 2006, 2007, 2008 and 2009 there was an average of 1,269 units selling each year in our mls with practically no new builds in 2008 & 2009.
Inventory levels started shrinking as property prices found a bottom in Venice in 2009 and 2010 causing consumers to recognize the worst was over.  Consumer confidence started to build and the sunshine brought them back.  2012 was a banner year…best since 2005 as far as units sold.  There were 2,111 units that sold in our MLS.  New construction is at a fever pitch with many communities nearing completion and other communities taking off.
In 2008 there were 283 closed properties in the first quarter…This year there have been 596 closed properties in the first quarter.  The average sale price in Venice for the first quarter was $192,000.  Last year we had 533 properties close in the first quarter at an average price of $177,000.  Venice Florida and Nokomis Florida have bounced back.  Single Family homes are on a constant rise and in High demand.  Condos and Villas have taken off and are trailing Single Family homes in appreciation.
To go back to the original question in this blog…why are inventory levels so low:
Demand is back
Insurance and Property taxes are stable
People have confidence in the investment
The volume of Cash buyers in our market
Value…this is the best reason I can think of…Buyers want value and Venice offers them that.  We have went from an average sale price in 2005 of $300,000 plus to just under $200,000 now, and going up.  Consumers recognize value.
Give me a call for all your Real Estate needs 941-408-5326

Willow Chase North Venice Florida

Willow Chase North Venice Florida 34275

Willow Chase of North Venice Florida is a gated community located just about 1 mile east of 75 off of Laurel Road.  Willow Chase is a maintenance free, gated community.  Willow Chase has a club house, heated pool, fitness center, basketball court, tennis court, play ground and nature walk area.  The fee is just under $250 per month, this will give you access to all the amenities along with irrigation for your yard, landscaping and lawn care.  If you are looking for a cozy community, this may be the one…There are 147 home sites with 2 main streets “Cielo Court and Ancora Blvd” and 2 small side streets “Reina Lane and Calais Circle”.

Willow Chase of North Venice Florida is located inside the City limits of Venice, and is only a mile to I-75 “Exit 195 Laurel Road”.  Nokomis beach is a short drive “about 10 minutes” and downtown Venice shops and Beaches are 10 – 15 minutes away.  There is a CVS within walking or biking distance along with a Subway restaurant.  Publix grocery “to open early 2013” store will anchor a new plaza just 1.5 miles away from Willow Chase.  Sarasota Florida is so close to Willow Chase “Exit 195”, Clark Road Exit 205, Bee Ridge Exit 207, Fruitville Exit 210 and University Exit 213 “Airport Exit”.  The Sarasota Mall is about 15 minutes away along with the new Costco in Sarasota.

D R Horton is currently building on the remaining lots.  Currently they are offering 5 floor plans with prices ranging from the mid $200’s up to the mid $300’s.  All homes in the community offer a tile roof and thermal pane windows.  If you are considering a new home in the Venice or Nokomis area, give Mark Cummings a call 941-408-5326.  I would be glad to send you a complete homeowner package with floor plans, or show you some of the great new communities in our area.

May 2012 Venice FL Sold Data

May 2012 Sold data for Venice Florida.   There were 240 Units sold last month vs 173 in May 2011 and 223 way back in May 2004.  The chart for units sold for the first 5 months of 2005 and 2012 are almost identical.  To date there have been more units sold in the first 5 months of 2012 than for any other year…ever in Venice Fl.   To give you an idea of how different are market is today, it took until November to hit the 1,000 unit sold mark back in 2006, we have already eclipsed this mark in May 2012.  Venice hasn’t ever sold 1,000 units before June, until 2012.
Average Sale Price for May is down by a very small amount, now at $188,702.  Active properties is off again as well, the lowest in my memory at 781 active units as of today.  There are 395 pending properties at this time…this is a very low number.
If you were waiting for the bottom you have missed it…however there is still time to get into this market before inventory levels shrink any further.  Give Me a call at 941-408-5326 I’d be glad to talk with you about your real estate needs.