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News Story
Updated: 11/23/2013 08:00:01AM

Homes, jobs,

kids, tycoons

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Property values have been steadily rebounding in 2013 after a prolonged slump following the 2006 real estate bust and the subsequent 2008 financial conflagration ignited by speculation in mortgage-backed securities.

September saw a 16.9 percent year-over-year rise in median home sales prices to a five-year high of $138,000, followed by a 14 percent jump in October. But the modest median price figure belies a remarkable home price rebound in Punta Gorda Isles, especially over the past month. Between Oct. 15 and Nov. 21, 13 homes in the tony, deed-restricted neighborhood sold for more than $300,000, including one on Jamaica Way that went for $850,000. Only three of the homes sold for less than their 2013 appraised values, while the other 10 exceeded that figure by 13.9 percent to as much as 44.3 percent. Nine of the homes sold for $425,000 or more.

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