Venice Bits

There is a light at the end of the tunnel
The real estate market is cyclical and will once again thrive – but when? In 2010, more than supply and demand influenced the market. Each time the market received a bit of good news, something happened. Tax credits ended, banks pulled back on lending and foreclosures stopped closing. But signs continue to point to a stabilizing and slowly improving economy. The market remains solid if not stellar, and most economists predict a positive trend in 2011.

Let's view the Year End closing sales figures below, for the Venice area:  

   Year                             2009                  2010

Homes                             1280                  1393

Median Price                147,000               142,500

Average Price              180,754               179,017  

Total Volume         $231,364,795       $249,378,864   

January, 2011,  started off with rocket speed in the real estate market in the under $200,000 price range.  Inventory at every price point  is less than expected, so showings are brisk for the properties on the market.  Buyers know what they are looking for; smaller homes, views with privacy, not necessarily all updated, but good "bones".   Buyers decided it's close enough to their projected time to retire (within 5 years) and are taking the home purchase  plunge.

Activities in January include:

Jan. 23   The Miami Avenue Craft Fair.  Sunday 10-5.  Downtown

Jan. 25   The Happy Time Band at 3:00 p.m. Located in downtown      Centennial Park off W. Venice Ave.  Bring your folding chairs.   

Jan. 26    Gentlemen of Jazz Concert in Centennial Park at 3:00 p.m.

Jan. 27    Slim and Friends Concert, 3:00 Centennial Park  

Jan. 28    Friday Night Live, 7:00 p.m. Centennial Park

We will work on turning the heat up in Venice.  Enjoy our town, Alice