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  Lets all raise a glass to all us Mom's out there that completed another successful summer break! And managed to get our children back to school on the right day, wearing the right clothes - phew!!   Red Tide has been prominent in the news recently. Although it's been severe this year, the State is actively dealing with the situation and our beaches are returning to their pristine conditions.  For more information, Michael Saunders Blog explains the causes of Red Tide and what the County and State are doing about it.   The market to date is amazing!!  Typically, July is quiet and you will see some decrease in activity in the stats below.  However, personally, I am actively working with buyers who can't find the perfect…

The housing market report for February shows a continued rise in sales in both Counties over last year. With ongoing low levels of inventory, the median prices have increased in both single family homes and condos, with a small decrease for Sarasota condos. The number of closed sales, pending sales, and new listings show a strong and steady growth, and remains the forecast for our local real estate market.    Compared to last month, the number of new listings is down by 10 percent, but this is expected as January's numbers are typically high, kicking off the beginning of the season. The condo market is enjoying center stage with median price percentage increases hitting double digits! So why are condos experiencing rock star status? Maybe due to the…

I am happy to say that I've been very busy, and as expected, 2018 is off to a robust start.    Below is an overview of the December 2017 market report. Due to buyers who wrap up major purchases by year end, and sellers who wait until after the new year to list properties, December is a month like no other as far as inventory. If we were to compare the numbers to last month as opposed to last year, you would see that closings significantly increase, and that there are fewer new listings. Compared to last year, December numbers look good, and you will see the inventory become more balanced as we move into 2018.   Fortunately, distressed sales are at their lowest since 2005, and condo sales by volume are increasing, both of these…

As we head towards the end of 2017, the housing market is fast-paced and prices are rising. Finding an affordable home for the first-time buyer in their desired location is becoming more and more difficult.     Our local area has a low inventory level so buyers are having to be patient, ingenuity and recruit the help of online tools, trusted Realtors and family and friends, as fewer people are moving today than at any point in recent history.    According to the Zillow consumer housing trends report 2017;

• Today's buyers have a median age of 40, are married or living with a partner (70 percent), earn a median income of $87,500 annually and are overwhelmingly Caucasian/white (73 percent). 
• The typical home purchased has 3 bedrooms and 2…

Wow! The heat is up - normally I take some time out and catch up on education, recreation and a bit of R & R in August and September.  This year has not allowed for any down time at all.  Buyers are here and they are looking to buy!  Inventory levels have plateau somewhat, however the number of buyers activity looking is up. Demand is there. Make sure you are there too!

With all this activity, are home prices increasing? The answer is no.  Buyers still have a lot to choose from and are taking their time before they make a decision. So it may take a little longer on the market before the right buyer finds your home.

Mortgage rates continue to decrease as the Federal Reserve continues to raise rates? While interest rates were increased twice this year by…

This time of year is nice because it's predictable - cooler in the mornings, rain in the afternoon, muggy in the evening......... Real estate activity levels during the year use to be predictable too.  Busy season was October through April and then we would slow down during the summer months. We talk about "Season" and "Off Season" a lot particularly with sellers regarding when it's a good time to sell vs when it's not. Over the past 3 years or so, I have noticed the "off season"  not really being off anymore.  Its not unusual to see record dollar sales in the high end market happen in the so called "off season" period. Year over year we are seeing an increase in Closed sales in June, July and August.  According to the United States Census Bureau the…

  We head into the summer with a 9% increase in active listings from this time in 2016.  However, inventory continues to be very tight especially in lower price ranges which is certainly driving prices up in the under $300,000 range.  In Sarasota Country the inventory of single family homes and condos increased by 12%. Singer family homes in Manatee County increased by 3%, while  condos increased by 9%.     I am always asked  "do you think we are heading for a boom" and "are we heading for a crash". First, I don't have a crystal ball, so we focus on other factors which effect the real estate market and the economy.  The main place is the S&P Corelogic Case-Shiller National Index. This provides insight into the market performance. According to…

  As I take a breath from the busy season just passed, I look at how the market is performing going into the summer months.  January thru April, we witnessed a large increase in inventory, confirming the fact that sellers felt motivated and confident in the market regardless of the increase in interest rates and buyers definitely made the most of the buyers market by negotiating aggressively. I also witnessed an increase in awareness of both the seller and buyer with regards to the selling/buying process i.e.. Sellers realized their home needs to be in its best condition if they wanted the maximum dollar and buyers came prequalified before submitting an offer.  
The local market does not appear to be slowing down post season. With…

SARASOTA, Fla. (August 24, 2016) - Median sale prices for condos and single family homes continue to increase in both Sarasota and Manatee County. Sarasota County single family homes are up 10.5 percent from 2015 to $242,500, while Manatee County experienced an 11.7 percent jump from 2015 to $279,250. Year over year, condo median sales prices rose 7.9 percent from 2015 to $205,000 in Sarasota and 21.9 percent to $185,250 in Manatee.

"While we continue to see a climb in median sales prices in both counties, I believe we will see this trend level off in the coming months," says Linda Formella, 2016 President of the Realtor® Association of Sarasota and Manatee.

Over the past year, Manatee County increased in sales from 2015, with a 0.7 percent…

 

SARASOTA, Fla. (May 26, 2016) – April’s housing statistics show that our current trend is continuing as inventory of available properties rose in both counties. For single family homes in Sarasota County, inventory is up 8 percent from April last year, and up 14.2 percent in Manatee County from last year. Condo inventory is also on the rise in Sarasota County, up 25.5 percent from last year, while Manatee County experienced a 19.8 percent increase year-over-year.

The months’ supply of inventory in the two-county area remains in the range of 4.5 to 5.4 months’ inventory this year, compared to a range of 4.2 to 4.5 months at this time last year. This statistic reflects the time it would take to sell all the active listings on the market at…