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On Our Minds

Real Estate Update - September 2020

Area Real Estate: An Update as of September 2020

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Market Starting to Show Improvement

I hope you are having a healthy summer and thought I would provide a summary of the August market activity.

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Real Estate Update - August 2020

Here’s a quick overview of important real estate highlights in our area:

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Market showing resiliency in some sectors

Despite the concerns about strained relations with China, increased COVID infections, social protests, weaker earnings, high U.S. unemployment and the November election, the S&P 500 Index is up 1% for the year while the Nasdaq Index is up 19.7%. The increasing spread of the virus is suppressing a healthy economic recovery as consumers and businesses remain conservative in their spending.

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Real Estate Update: July 2020

Here’s a quick overview of important real estate highlights in our area:

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Highlighting Highlighters

I normally do not make a practice of working from home, but with safe distancing and travel limitations sparked by the pandemic, staying home was something many were following.

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Investment Market Update, Q2 2020

The S&P 500 Index showed great resilience to the negative news flow and achieved the best quarterly performance since 1998. Despite media reports about the virus infection rate increases, potential new tariffs on European and Chinese goods, and early Presidential election polls, the market rebounded from the first quarter decline. The S&P 500 Index is still down by 4% year-to-date, but the Nasdaq is up 12.1%. This disparity is the real news for the markets as investors crowd into the digital age/new economy companies while remaining indifferent to the deep value and cyclically-oriented sectors. Apple, Amazon, Alphabet, Microsoft and Facebook were the dominant market leaders while Boeing, Caterpillar, General Electric and General Motors all declined. The information technology sector rose 31% in the first half of the year, basic materials declined 4%, industrials fell 10%, financials dropped 17%, and energy cratered 40%. Small cap and mid-cap indexes underperformed, with declines of 13% each, which indicates investors are wary of the heavy-weightings in deeply cyclical bank, retail and REIT stocks.

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Charlotte County, Florida Real Estate Update - June 2020

Here’s a quick overview of important real estate highlights in our area:

1. Number of Single Family Homes and Condos sold: Our local Realtor association (Realtors of Punta Gorda-Port Charlotte-North Port- DeSoto. Inc.) reports that there were 284 sales in the month of May, in our COVID-19 environment.

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Be safe and prepared this summer

The arrival of hurricane season in the midst of the COVID-19 pandemic requires us all to be doubly vigilant. You’ll be hearing a lot about hurricane preparedness when it comes to protecting yourself and your loved ones in terms of shelter, safety and supplies. Researchers are predicting 19 named storms this year, and FEMA (Federal Emergency Management Agency) has posted some important operational guidelines on its website (fema.gov).

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Growth is on the Horizon

The S&P 500 Index has rebounded 35% from the low on March 23 and is now only down 6% year-to-date. The rally was slow and deliberate as the headlines shifted from a virus-induced economic lockdown to a gradual re-opening.

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