Venice Bits

"It" was expected. "It" was first noticed in the rental market, when tenants didn't rebook by June.  "It" is the negative publicly of possible oil concerns on our beaches, and "it"  has taken a toll on our monthly sales figures for August, even when oil was a no show.  

Year                                  2008                             2009

Total units solds                     75                               63

Median Price                    $159,900                       $150,000

Average Price                   $180,269                       $178,043

Total Volume                $14,195,175                   $10,148,451

Condo purchases have declined from  25% to 14%.  I'm attributing the rise in in single home ownership, due to the  great bargains (reo and short sales).   During August winter vacationers are booking for 2011 and that is a sound indicator for an active real estate season.  

Many homeowners are refinancing with rates on a 30 year conventional at 4.36% and 15 year rates at 3.86%.  So if possible, take advantage.

Activities in our town begin early on Sept 4th with the 5th Annual Venice Triathlon.  Participants will meet at Sharkey's Pier 6:00 a.m.  The course begins with a 400 meter swim, buoy to buoy, parallel to the coastline.  Next, a 9 mile bike ride on Harbor Drive and ending with a 5 K run along Caspersen Beach. Good luck to all participants! 

The Miami Avenue Craft Fair is a wonderful place to find treasures for everyone.  That is on  Sept 4th and 5th from 10:00 a.m. to 5:00 p.m. on Miami Ave. on the Island.

The Venice Main Street Sidewalk Sale is on Sept. 10th and 11th from 10:00 to 5:00 p.m. on the Island.  You can find some nice end of season bargains.

Enjoy your Labor Day! Alice