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Great Deals in Sarasota County 
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IS NOW A GOOD TIME TO BUY SARASOTA REAL ESTATE? YES, EVEN IF PRICES CONTINUE TO DROP!
Friday, September 3rd, 2010 at 2:55pm. 16 Views, 0 Comments.
And here is why.....I know prices are still dropping in some areas, but is this a good time to buy? The answer is a resounding YES. If you bought a $400,000 dollar home (for the purpose of illustration obtained a $320,000 loan) and that house drops 10% in the next year, the math is easy. You just lost $40,000. BUT - and this is a big BUT - if you obtained a loan today for that house at 4.25% and if that same loan in one year costs 6%, then the difference in payment is a lot LESS if you buy the house now. ($320,000 @ 4.25% = $1574 / $320,000 @ 6% = $1918) for a difference of $344 every month. Over 30 years, that difference is a whopping $123,840! One thing we have been assured of is that interest rates have to and eventually will be going up as the…
DID I MESS UP BY MISSING THE OBAMA TAX CREDIT? NO!
Friday, September 3rd, 2010 at 2:54pm. 7 Views, 0 Comments.
At the end of April (when the tax credit expired) the interest rate was hovering around 6% versus about 4.25% now. That means that if you took out a loan for $320,000, in April your loan would be $320,000 @ 6% = $1918 versus now $320,000 @ 4.25% = $1918, for a difference of $344 every month. Over 30 years, that difference is a whopping $123,840!
Despite what you read and see, homes ARE selling. Our team has been having a stellar year selling lots of homes for our sellers and finding quality homes at good prices for our buyers. We have become experts at distressed sales (short sales) and are CDPE certified, and we are even listing and selling some bank owned homes (REOs).
We are well aware that you have a choice in Realtors. We feel that now more…
FEWER HOMES IN FORECLOSURE IN THE SARASOTA REAL ESTATE MARKET
Wednesday, August 4th, 2010 at 1:42pm. 33 Views, 0 Comments.
Foreclosure filings in the Sarasota real estate market during the first six months of the year fell by 10 percent from the latter half of 2009. The report by RealtyTrac Inc. was the latest in a series of signs that the foreclosure crisis could be ebbing in Southwest Florida.
The Sarasota real estate market logged 10,359 foreclosure filings, or 2.65 percent of all the housing units in the area. That was down from the 5.26 percent of homes and condominiums during all of 2009 that made the region 17th nationally.
There has been strong demand in Southwest Florida for distressed properties, and many of those in the best condition already have been snatched up by first-time buyers or investors looking for bargains.
Nine Florida markets included in the…
SARASOTA CONDO SALES CONTINUE TO SOAR IN JUNE!
Wednesday, July 28th, 2010 at 1:23pm. 42 Views, 0 Comments.
Condominium sales soared in the Sarasota real estate market during June when compared with those of a year ago. Last month 326 condo units changed hands in the Sarasota real estate market, up 53 percent from a year ago, but down from 384 in May and 406 in April. The June sales represented the fourth highest percentage increase in the state.
Prices in the Sarasota real estate market dropped 9 percent to $133,000 from $145,800 a year ago. This is also 13% from May.
This information is from the Sarasota Herald Tribune.
Don't forget to contact Re/Max Platinum Realty at 941-929-9090 for your needs in Sarasota real estate, as well as your needs for Siesta Key real estate and Casey Key real estate.
STRONG SHOWING FOR JUNE IN THE SARASOTA REAL ESTATE MARKET!
Wednesday, July 28th, 2010 at 11:03am. 32 Views, 0 Comments.
Home sales in Southwest Florida soared during June, rising 35 percent in the Sarasota real estate market. June was the fourth straight month that sales topped the 1,000 mark in the Sarasota real estate market, a level that harkens back to the pace of summer 2005, when the real estate boom was still in swing.
The median sales price of $170,400 in the Sarasota real estate market was a 5 percent increase from a ago and up 2.4 percent from May, according to data released Thursday by Florida Realtors, the former Florida Association of Realtors.
The region's strong showing -- and a 17 percent spike in sales statewide -- was somewhat overshadowed by a 5.1 percent decline nationally, evidence that the broader housing market is struggling and may drag on the…
CONDO SALES SOAR DURING MAY IN SARASOTA!
Wednesday, June 30th, 2010 at 12:15pm. 51 Views, 0 Comments.
Condominium sales soared during May in the Sarasota real estate market, rising 71 percent when compared with the same month a year ago and staying at par with levels the previous month.
The sales increase was the biggest on a percentage basis for Florida's largest markets except for Orlando, which posted a 73 percent rise in condominium sales, according to an analysis of data provided by Florida Realtors, the former Florida Association of Realtors.
There were 384 units that changed hands last month in the Sarasota real estate market. That compared with 225 a year ago and 406 in April.
The median sales price rose 3 percent to $152,800 from $148,500 a year ago. But the May median was down slightly from $154,100 in April.
This information is from the…
SARASOTA FLORIDA IS THE BEST BUY IN THE WESTERN WORLD!
Wednesday, June 30th, 2010 at 12:14pm. 72 Views, 0 Comments.
Reports show that Sarasota real estate is the best buy in the Western World!
The report, published in http://www.globaledge.co.uk/ ranks popular resort and second home locations around the world that reveals the cheapest western holiday home destination is Sarasota, Florida, which is little surprise given how much the market has fallen over the past two years and the number of agents currently selling distressed property to foreigners in the sunshine state.
Among the surprises: Apartments in Warsaw, Poland are selling for higher prices than Dubai.
Manhattan and Paris are running neck in neck, but Moscow makes them both look cheap. Little wonder that the Russians are on an international buying spree, with Hong Kong residents close behind them. With…
HOUSING SALES AND PRICES UP AGAIN IN MAY IN THE SARASOTA REAL ESTATE MARKET
Wednesday, June 23rd, 2010 at 1:48pm. 44 Views, 0 Comments.
Strong investor demand, declining inventories and a continued boost from the first-time home buyer tax credit pushed sales and prices of previously owned homes up in the Sarasota real estate market during May. More than 1,000 single-family homes changed hands for the second month in a row, a pace not matched since the boom year of 2005. Sales have not declined in the market since June 2009.
The median sales price in the Sarasota real estate market rose to $166,400, a 6 percent increase from a year ago and up 1.7 percent from April, according to an analysis of data released Tuesday by Florida Realtors, the former Florida Association of Realtors.
An analysis of court records by the Herald-Tribune showed that 25 single-family homes sold for more than $1…
SARASOTA REAL ESTATE UPSWING CONTINUES IN APRIL 2010!
Wednesday, June 2nd, 2010 at 2:00pm. 73 Views, 0 Comments.
April was fiesta time in the Sarasota real estate market, with another month of sales harkening back to the boom times of mid-2005. Realtors and industry-watchers acknowledge that a prime driver in the soaring March and April sales was the support of federal tax incentives and buyers' efforts to beat an April 30 deadline for a signed sales contract.
Sales have not declined in the Sarasota real estate market for nearly a year. They were up 32 percent in April. Prices also continued their upswing, rising 5 percent in the Sarasota real estate market to $163,600 from a year ago. Condominium sales also rose dramatically in April -- up 70 percent in both the Sarasota real estate market and the Bradenton real estate market
Court records show that only 16…
DEMAND FOR CONDOS IN FLORIDA SHOULD INCREASE!
Wednesday, May 5th, 2010 at 1:38pm. 97 Views, 0 Comments.
Moves by Fannie Mae and Freddie Mac to ease lending restrictions in the Sunshine State are giving those who want to own and occupy condos an opportunity to buy tens of thousands of units previously off-limits to nearly everyone except cash-rich investors.
Fannie Mae already has added 35,000 units in the Miami area to its approved lending list and is expecting to add thousands more across the state as the year progresses.
In what is considered to be a bolder move, Freddie Mac will back new mortgages in Florida condo complexes plagued with low occupancy and high association fee delinquency rates -- providing that the seller's loan already is owned or securitized by Freddie Mac.
Market watchers believe changes by these giant government-sponsored companies…
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