Real Estate of Florida

Single Women are Becoming a Major Source of Home Buyer Prospects

2011-09-28T20:01:00.001-04:00

The National Association of Realtors (NAR) recently reported that single women are quickly becoming a significant percentage of the total nu,mber of home buyers in the U.S. real estate market. Last year 20% of all home buyers were single women.

According to the NAR, single women aren’t just purchasing more homes. They are growing savvier about the whole home buying process, being much more likely to ask piercing questions and demanding straight answers to their questions regarding prices, features, financing options, etc. And it is not just young single professional women who are buying homes, the range of single female buyers varies all the way from young singles to post-retirement women.

Due to the increasing number of single women buying homes, both builders and real estate brokers are "stepping up their game" to appeal to this large new segment of the buyer market. Builders are increasingly offering new homes with more extensive security features, low- or no-maintenance yards, gourmet kitchens, more spacious bathrooms, softer color schemes - all features that appeal much more to female than to male buyers.

“When a woman is shopping for a home with a man, she tends often to defer to the man's desire for a garage, a workshop, or a work-at-home office,” says Rich Stover, a noted Sarasota Florida real estate agent. Conversely, says, Judie Berger, another respected Sarasota real estate associate broker, “when a woman is buying a home for herself, she tends to be more interested in how she may be most easily tailor the home to fit her own personal lifestyle, interesta and needs."

As the real estate market continues to bump along without much actual growth, it behooves every real estate professional to pay attention to trends like this and tailor their marketing plans and actions appropriately.

Should Sarasota Florida Be In Your Future

2011-08-17T10:44:00.008-04:00

Here’s an interesting statistic, we found recently. There are 78 million baby boomers in the U.S., and professionals predict that one-sixth of them will spend at least part of their lives in Florida. That means that there are almost 13 million people who need to be considering whereabouts they would like to settle in the State of Florida in the next decade.

When those future residents look for the most attractive places to live in Florida, we're betting the Sarasota – Bradenton – Lakewood Ranch area will be high on their list of “most attractive places.” Here’s why:

For starters, Americans Style Magazine ranked Sarasota 5th and Bradenton 10th on it’s list of the “Top 25 Small Cities.” Money Magazine listed Sarasota among the “Nation’s 15 Most Livable Communities” calling it a city with the charm of a smaller southern town with the conveniences of a big city. CNBC said Sarasota Florida is one of the “Most Popular Retirement Destinations.” And, AARP Magazine listed the Sarasota – Bradenton area as one of the four “Best Places To Reinvent Your Life.”

For golfers, the greater Sarasota Florida metropolitan area has over 80 golf courses ranging from public courses to semi-private and private courses which will challenge every level of play. Many of these golf courses lie within master-planned golf course communities like Lakewood Ranch. Residents of the Lakewood Ranch golf course community enjoy a casual, yet comfortable, lifestyle in a community of ten neighborhoods with homes and condos spanning a fairly wide range of sizes with prices ranging from the mid $200′s to over $2 million.

For lovers of the sun and surf, there are 35 miles of white sand beaches stretching from Anna Maria Island on the north to Venice and Northport on the south. Siesta Key beach was voted the “Top Beach in the U.S.” in 2011, with the softest, whitest quartz sand in the world. And for lovers, nowhere in this world will you find more romantic sunsets than along the beaches for the Florida West Coast.

The area is known as “Florida’s Cultural Coast”, home to the renowned Ringling Art Museum, Sarasota Orchestra, Sarasota Ballet, Van Wezel Performing Arts Hall and Asolo Theater as well as many art galleries, jazz clubs and local theater groups like the Manatee Players in Bradenton and the Little Theater in Venice. Downtown Sarasota offers dozens of upscale shops and restaurants. And no one disputes the charm of the eclectic shops at famous St Armands Circle. For a less formal experience, Village of the Arts is a vibrant artist community in Bradenton.

Sailing enthusiasts, powerboat owners, scuba divers and fishermen spend relaxing times on the warm waters of Sarasota Bay and the Gulf of Mexico. Some waterfront communities even offer deep water marinas, yacht clubs and fishing docks.

Sarasota and Manatee County schools serve over 80,000 students in both public and privates schools. Nearly 80% of Sarasota teachers have post-bachelor degree training. Two-thirds of our high school graduates go on to college; many at local colleges including University of South Florida – Sarasota, USF – New College, Ringling School of Art & Design, University of Sarasota, Eckerd College, and The State College of Florida – Manatee – Sarasota.

If your youngsters, or grand children, enjoy educational experiences, they, and you, will enjoy the G.Wiz Science Museum, the Sarasota Jungle Gardens and the Mote Marine Laboratory in Sarasota and the South Florida Museum and Bishop Planetarium in Bradenton. Just up the road in Tampa, the world-renowned Florida Aquarium offers a truly unique experience. All offer informative displays and tours attractive to kids “of all ages.”

Sarasota, Bradenton and our Island Keys, Longboat, Lido, Siesta and Casey Key offer the widest possible variety of residential living spaces from downtown high-rise condos, penthouses and town homes to golf course communities and waterfront communities in price ranges to fit every desire you may have.

Whether you're a “snowbird,” a one-time visitor, a professional, or an employee being relocated to the fast-growing Florida West Coast, you should get to know the Sarasota - Bradenton - Lakewood Ranch area on Florida's Sun Coast. This may, in fact, be "the place you'll want to call home" right now or in the future.

Would you like to know more about the Sarasota Florida real estate market in general, or the cultural, shopping or recreational amenities of Sarasota ? We know that Judie Berger, a well-known specialist in Sarasota Luxury Homes would be happy to send you her free Sarasota Florida Real Estate Information Package. Or, if you prefer, call her directly at (941) 928-3424.

Sarasota home sales remain strong during normally weak summer months

2011-08-05T20:18:00.004-04:00

The Sarasota Association of Realtors reported a slight drop in single-family home and condo sales in June in the metro Sarasota and Manatee County area. 728 homes and condo sales closed during June compared to 796 in May.

Two positive signs of the overall health of the Sarasota real estate market were (1) that the median sales price for single-family homes, at $175,000, was the highest level in over a year and (2) the inventory of homes for sale dropped to the lowest level in over a decade.

According to Bob Henley, Sarasota Realtor, "in four of the six months of 2011 to date, Sarasota real estate sales have exceeded the 700 level." Pending sales of 754 in June were also down slightly from the May level of 841 reflecting the area’s typical seasonal slowdown as snow birders return home.

There were 510 single-family home and 218 condo closings in June. The current level of home sales is the strongest it has been since the real estate boom of 2003-2005. June's real estate sales volume reflect a high level of buyer interest; close to the mini-boom level that occurred during the Federal Homebuyer Tax Credit incentive program last year.

The total available inventory of properties for sale dropped to 4,830, the equivalent of 5.9 months of inventory of single-family homes and 8.2 months of condominium inventory both far below the highs of 25.3 months for single-family homes in early 2009 and 41.7 months of condominium inventory in late 2008. A 6 month level of inventory is considered to be the point at which buyer and seller interest are in equilibrium. “It is encouraging to see how the Sarasota real estate market has continued its strong momentum in the face of continuing weakness in the national and state economies,” said Sarasota Association of Realtors President, Michael Bruno. “The inventory of available properties, which is lower than it has been since the 1990s, is a very important statistic," he said. Historically, a reduction in the inventory of homes for sale leads to increased prices as buyers begin once again to "compete" for the most attractive properties.

The percentage of distressed sales (short sales and foreclosures) was 38% in June compared to the high point of 51% in November, 2010.

"All of this points to a Sarasota real estate market continuing to recover across the entire market area from Bradenton on the north to Venice on the south including the barrier islands, Longboat, Siesta, Lido and Casey Key," says Judie Berger, a well known Sarasota Florida real estate associate broker. Those who have been considering buying a primary or second home anywhere in Sarasota or Manatee County would be well advised to come to town now while home and condo prices are still more attractive than they have been in the past or are likely to be for much longer.

Luxurious Homes Available at Bargains in Tampa Bay

2011-06-30T16:37:00.005-04:00

The most expensive home for sale in the Sarasota area, according to Brian Ward, a Sarasota homes for sale Accredited Buyer Representative, is this 10,087 sq ft, 7 bed, 6 1/2 bath home on Longboat Key. Rich Stover, another Sarasota real estate agent with RE/MAX Alliance Group assures us that another place where one can find luxurious homes is on Casey Key where just about every home has a gorgeous gulf-view.

Further north a bit in Tampa Bay, the most luxurious and palatial home just became a bargain if a home that is priced at $14.9 million can be described as a "bargain."
Mark Yaffe, the owner, dropped the price of his 29,000-square-foot estate from $17.5 a second price drop from the original asking price of $25 million in 2008.

This ornate manor home, modeled after a 17th century British royal palace, has 10 bedrooms and 10 bathrooms sitting on six acres. It took just over seven years to build this ornate estate in the upscale Avila community in the northwestern part of Tampa.

"There are plenty of expensive homes throughout Tampa Bay including the Sarasota, Longboat Key and St Petersburg areas," says Bob Henley, a well-known RE/MAX realtor who specializes in Siesta Key, Osprey and Sarasota golf course homes.

Particularly for cash buyers, there is a luxury golf course or gulf-front home waiting for you to snap it up at a bargain price somewhere in the Tampa Bay area stretching from Tampa and St Petersburg to Sarasota, Osprey and Venice Florida including the Barrier Island, Siesta, Longboat, Lido and Casey Key.

All-Cash Home Buyers Have an Amazing Opportunity

2011-06-24T11:00:00.004-04:00

USA Today reported this week that all-cash buyers are beginning to scoop up homes all across the country at bargain prices. On average, U.S. home prices are now 33% below their 2006 peak. In many areas, prices have come down even more. In some cases as much as 50 to 70% from their highs. Those buyers apparently believe that prices won't get much cheaper any time soon and they see an opportunity to make some money either through rentals or by holding the properties until times get better.

All over Florida, there are substantial numbers of homes for sale at bargain prices. Some, admittedly are short sales and foreclosure properties that require a fair amount of investment before they will be viable rentals or second homes. But, according to Andree Huffine, a Sarasota real estate expert, there are also all sorts of other real estate properties for sale at bargain prices including luxury waterfront and golf course homes and condominiums in the $1 million and up price range.

Homeowners in all price ranges who need or want to sell their homes or condos, after having held off for two or more years already hoping for a quick housing market recovery, have begun to understand the situation. As a result, they have reduced their asking prices to more realistic levels and become particularly interested in cash buyers.

Yes, mortgages are still tight but that is opening an opportunity for seen before for those with cash to get great deals on Florida real estate properties. Some of these all-cash buyers are Americans, but there also substantial numbers of Canadians and European buyers in the market.

Home sellers throughout Florida are beginning to be willing to accept lower price offers from all-cash buyers who have no financing contingencies in their offers. They also recognize that an all-cash deal can close within 2-3 weeks, far more quickly than a deal requiring the normal appraisal and mortgage approval, and vastly quicker than a short sale.

"As a result," says Bob Henley, a Sarasota Florida real estate agent with RE/MAX Alliance Group in Sarasota, "home buyers with cash on hand are in the enviable position of being able right now to purchase a home or condominium as either an investment property or as a second home at truly attractive price."

Siesta Key has the #1 Beach in the U.S.

2011-05-31T11:36:00.003-04:00

That wide slice of quartz crystal white sand that is Siesta Key beach has won the title of the "Nation's Top Beach" last week.

Steven Leatherman, (affectionately known as Dr. Beach, director of the Florida International University Laboratory for Coastal Research, every year compares all the best beaches in the country and selects the top 10 beaches based upon 50 criteria. Those criteria include the look and feel of the sand, quality of the water, facilities available among other factors.

San Diego's Coronado Beach, which has scored at #1 previously, was the runner-up this year. Number 3 was Kahanamoku Beach in Hawaii, while #4 was Main Beach, in East Hampton, NY. Rounding out the top 5 was Cape Hatteras Beach in North Carolina.

Among other factors, Siesta Beach scored well on its shallow, warm water and gentle currents while losing a few points due to the heavy vista of condominiums.

Praise for the 40 acre Siesta Key beach comes as no surprise to Janet Dugan, a well-known seller of Siesta Key condos or to Judie Berger, a Siesta Key real estate agent and Siesta Key resident. herself.

Selling a Florida Home in the "Off Season"

2011-05-16T19:55:00.004-04:00

Not everyone who relocates to Florida decides to buy a home while they are here as “snowbirds” in the months of December through April the appeal of our Sun Coast lifestyle is so obvious or when the kids are out of school and they have the time to be choosey because they’ve got three months before the kids need to be back in school. If you need to sell a home or condominium during the “off-season,” you may need to put a little more effort and creativity into the task of selling your home

Everyone who has ever sold a home has heard the usual advice: "Find a good agent, be aware of local home values, remove personal items and de-clutter the home. Touch up the paint, remove old wallpaper and keep the dog out of the way. That is all good advice, but it’s not always enough,” says the author of the blog Real Estate of Florida blog. "You may need to put in a little extra effort to achieve success if you’re selling your home in the “off-season.”

Keep these five suggestions in mind from the moment you start planning your next move and be open to further suggestions from your Realtors or other Realtors who show your home:

1. Start With an Accurate Valuation of Your Home: Nothing turns a new listing in to "stale on the market" listing faster thans tarting out at too high a price. You probably already know enough to use neighboring home values as comparisons in setting your asking price, but now, some additional homework can pay off. If you need to sell quickly, price your homs a little lower than the market suggests. In this post real estate bubble and bust timeframe, it’s also important to have a heightened awareness of foreclosures in your immediate area. Any foreclosures in your immediate neighborhood put a dent in your home’s market value today.

2. Get Involved Yourself: Just because you’re working with a Realtor® like Judie Berger doesn’t mean you can’t do some of your own legwork. The first 10 days on the market are the most critical to selling a home because new listings get the most attention from buyers. Internet-based social media sites have opened limitless new strategies to sell your home. Also consider using sites like Craigslist, Facebook, Flickr, Zillow and YouTube. Make sure you’ve agreed with your Realtor to pay his or her commission (or some other mutually agreed-upon amount) if you sell it yourself using one of these venues. Post pictures on these sites that show your home at its best. You can even upload a video tour. At some real estate agencies are making a video tour an integral part of their home marketing plan.

3. Accept Helping Hands: Take advantage of a wide range of services, beyond your local Realtor’s, that could help you streamline the home selling process. Some cost money, such as a home “staging” service that can help you show your home at its best. Others, like just your realtor to schedule a "broker's open house where many Realtors wkill tour your home and make suggestions, can be free. If you are employed or in the military, you may find that your employer or the the military services will offer you services for free or at discounted rates.

4. Get Creative With Your Sale Terms: Sometimes it takes unique terms to seal a deal. You can sweeten the deal by offering to pay some or all of a buyer’s closing costs, for example. In some master-planned communities, you may also be able to offer to pay the new owner’s membership initiation fee for the local golf, yacht or athletic club.

5. Stay Flexible: According to the experts, buyers and sellers should keep their pride in check and be willing to make concessions, especially in the off season. That means not haggling over minor repairs or refusing to leave behind the chandelier your potential buyer loves. Factor in your thinking the cost of keeping up your home for several more months versus just accepting a lower selling price or letting something go with the home and having the sale done right now.

Even in the most sluggish or off-season real estate market, getting ahead of the curve with these suggestions can lead to a quicker sale and get you successfully on to whatever you had planned as your next step in life..

Florida Home Sales Boom in March

2011-04-22T19:18:00.006-04:00

Home sales in Florida surged ahead in March, jumping by 36% over February, Across the state 28,220 housing units were sold in March compared to 20,680 in February and 24370 in March, 2010.

Sales of Florida homes and condominiums were even up by 16.8% over March of 2010 when the home buyer tax credit program was in effect. According to the Florida Association of Realtors (FAR) and the National Association of Realtors (NAR) the Florida home sales statistics surpassed the national increase which was only 3.7% above February levels.

March was the fourth month in a row where home sales exceeded the same month of the previous year. The median sale price of a single family home in Florida was $126,300, still below the previous year's median due,in large part to the number of foreclosure and short sale transactions.

"In some markets, such as Sarasota and Tampa Bay, prices seem to be stabilizing," says Andree Huffine, a respected Sarasota real estate agent with REMAX Alliance Group. With March being the start of the spring home buying season, Florida realtors have reason for hoping that 2011 will turn out to be a much better year than they've seen in several years.

"What Realtors need more than anything else at this point," says Judie Berger, a Sarasota Florida homes real estate agent with Sotheby's International Realty, is for lenders to loosen up their lending standards just a bit giving more families a chance to buy a home during 2011 at prices not seen in years."

April is NEW HOMES Month, Tell Your Congressman and Senators to Support Home Building

2011-04-11T12:11:00.008-04:00

April is New Homes Month! The home building industry here in Florida will be focusing on this annual event all this month and the home building industry wants all Floridians (and all Americans for that matter) to understand the direct impact residential home construction has on the well-being of the U.S. economy.

“Home building is a key driver of the American economy,” said National Association of Home Builders (NAHB) Chairman Bob Nielsen, a home builder from Reno, Nevada. “By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing, which has historically accounted for around 17% of the national GDP, can put America back to work.”

NAHB economists estimate that the one-year local impacts of building 100 single-family homes in a typical metropolitan area include $21.1 million in local income, $2.2 million in taxes and other local government revenue, and 324 jobs. The employment effects extend well beyond the home building industry, however. About half of the jobs are in construction, with the other 50% creating job opportunities in industries ranging from production and sales of home furnishings and appliances as well as service providers like Realtors, real estate attorneys and landscapers.

Incomes earned from home construction activity is spent and recycled in the local economy and the new homes that are built become occupied by residents who pay taxes and buy locally produced goods and services. Those tax revenues help pay for a wide range of government services, including school teachers, police departments, road building and repair, trash pickup and recycling and countless other services.

In order to accommodate population growth and older home replacements, a new homes construction rate of approximately 1.7 million new homes per year is required in this country. Last year, home builders broke ground on approximately 475,000 units - a 7% gain from the 442,000 homes started in 2009 so things are starting to improve but far too slowly. As of February 2011," says Judie Berger, a Sarasota Florida real estate agent with new home construction expertise, "the annual projection for new housing starts still stands at only about 575,000 homes, barely 1/3 the rate of new home building needed and things are no better here in Florida."

“The gap between actual home starts and what is required to fulfill America’s future housing needs represents more than 3 million jobs,” said Nielsen. “Restoring the health of the housing industry is a crucial first step in stabilizing our country’s path to economic recovery.”

Reflecting the poor state of the economy and consumer confidence, California and Florida, typically leaders in home building activity will not be among the states whose housing markets recover rapidly. So the need to stimulate this industry is particularly crucial in these states.

During "New Homes Month," Florida's home builders will also focus prospective buyers on the advantages of a newly-built home, including safety features, amenities, energy efficiency and new floor plans designed to meet a wide variety of modern lifestyles. Combined with today’s near record-low interest rates and competitive prices, the current new home market offers buyers unprecedented opportunities.

"So do yourself and your neighbors here in Florida a favor," says Bob Henley, a noted Sarasota Florida real estate agent, "contact your Congressman and your two Senators this month and demand that as part of any economic recovery or debt-reduction program they consider, they understand and appreciate how important it is to invest in actions to get the home building industry pumped up and building more homes again." The recovery of the U.S. economy depends on it.

2011-03-23T10:27:00.006-04:00

We would like to invite you to visit our newest real estate blog at the Tampa Bay Florida Real Estate Blog site.

This new blog will focus on what's going on in the Tampa - St. Petersburg area including Hillsborough and Pinellas Counties.

When you visit the new blog, leave us a comment on what you liked and/or didn't like, if anything, about it.

First Time Buyers - Have You Thought About Homeowners Insurance ?

2011-03-21T13:24:00.005-04:00

Are you about to start looking for your first home. If yes, you should learn all you can about homeowners insurance before you get too far ahead of yourself.

Your mortgage provider will require you to have a home insurance policy in force on your new home prior to closing day. So, you might as well know what is involved up-front.

This is one of the many things a first-time home buyer should know about homeowners insurance. Here are the things you should know.

Getting a homeowners insurance policy is harder today than it was a few years ago. As a result of the recent recession, everything is harder to get now including homeowner insurance policies here in Florida. You may have to shop around to get the kind of coverage you want, and you should definitely get multiple quotes to compare the cost from one provider to the next.

A couple of definitions:

The homeowners insurance premium is the amount you pay for coverage.
The deductible is what you will pay in the event of a claim, before the insurance company will pay the rest.

Premiums and deductibles are related. You can usually reduce your premium by raising your deductible amount. The Insurance Information Institute says “If you can afford to raise your deductible to $1,000, you may save as much as 25% on your premiums.”

Most homeowners insurance policies do not cover flood damage. So if you live in an area that’s prone to flooding, you should get a separate policy (or a "rider") for flood insurance.

When choosing a policy, you can also generally choose between replacement cost and actual cash value.

Replacement Cost coverage gives you more protection than cash value, because it covers the cost of replacing items even if they cost more than when you bought them

Actual Cash Value ( known as ACV) only covers items up to the amount you paid for them or their value as of the time of the claim.

You can get a quote for a homeowners insurance policy online, which will save you plenty of time and energy. This is a great way to compare policies of multiple insurance companies at once but you may want to buy your policy locally so you know someone you can go to from time to time with any questions you may have.

In any case, be aware that a homeowners policy is going to be required. Also know that if you do not get one on your own prior to closing day, your mortgage provider will probably offer you one. That mortgage-provider policy is almost always going to cost you more than a policy you bought on your own and brought evidence of coverage to the closing. So it's worth a little time and effort to save yourself some cash.

Universal Design - A New Trend in Home Building

2011-03-06T11:42:00.006-05:00

The term "Universal Design" refers to a wide range of architectural and construction ideas and products meant to produce buildings, products and environments that are inherently accessible to both the able-bodied and the physically disabled.

According to Judie Berger, a Sarasota real estate broker with experience selling universal design homes, the concept evolved from earlier "barrier-free" concepts, the broader accessibility movement, and adaptive and assistive technology and also seeks to blend aesthetics into these core considerations.

As life expectancy rises and modern medicine increases the survival rate of those with significant injuries, illnesses, and birth defects, there is a growing interest in universal design by many forward-thinking architects and builders. There are many industries in which universal design is having strong market penetration but there are many others in which it has not yet been adopted to any great extent. For example, while curb cuts or sidewalk ramps, essential for people in wheelchairs but also used by all, are a common example, the home building industry has just recently become interested in the concept.

More homes are now being built with "universal design" features that will help boomers stay in their homes as they age. These features no longer evoke a hospital or hursing home room so they are appealing to younger demographic groups as well.

There are now kitchen and bathroom cabinets with pull-out shelves, kitchen counters at several heights to accommodate different tasks and postures, and walk-in bathtubs. Color-contrast dishware with steep sides that assist those with visual or dexterity problems are another. There is also growing use of lever door handles in place of the standard doorknob making it much easier for people with disabilities (as well as moms carrying a baby) to open a door.

Perhaps the most interesting facet of this new "universal design" concept is how quickly growing numbers of young families are beginning to ask for such "ease-of-use" features in the new homes they are considering building or buying.

Your Florida realtor can help you find builders employing "universal design" concepts in their homes. In Sarasota Florida, Connie Belmont, a Sarasota FL real estate agent or Brian Ward, a specialist in Bradenton real estate communities would be pleased to help you. In the Tampa Bay Florida area, broker Cheryl Stimac is also a Tampa real estate expert on universal design builders.

Bargains Available on Florida New Construction Homes

2011-02-26T08:21:00.004-05:00

The U.S. Department of Commerce just released its New Home Sales report showing a 13% drop-off in annualized sales between December and January, the biggest one-month drop since May 2010.

In addition, the supply of new homes for sale spiked higher to 7.9 months last month, the number of months it would take to sell the complete “for sale” new home inventory at the current pace. In December, the supply measured just 7.0 months,

However. ther is good news here for home buyers. For buyers of new construction home buyers, slowing sales can be good news. Weaker markets put pressure on the home builder to discount prices and, in many cases, also offer free upgrades to buyers.

So, says, Bob Henley, a Sarasota Florida real estate expert, "if you are thinking about buying a builder's new construction hpme, now is the time to get with a Licensed Realtor who can help you negotiate a great price."

Inaccurate News About January Housing Starts

2011-02-17T11:54:00.005-05:00

More specifically, the data reported by major news organizations is not technically "inaccurate", it's just very misleading.

A "Housing Start," says Andree Huffine, a popular Sarasota real estate broker, "is defined as a home (or housing unit) on which construction started during the month.+

If you recently saw the news reports on January, 2011 Housing Starts, you would think they went up by over 14% and were at the highest level in 4 years. But actually, annualized nationwide single-family home housing starts, the number most of us are interested in, actually fell by 1% in January to 413,000 units, the lowest level in almost 2 years.

Ths confusing situation is caused by the fact that, while the Census Bureau reports Housing Starts by "property type," newspaper headlines typically lump all three Census Bureau categories into a single value.

Here's how the categories actually were reported for January, 2011 by the Census Bureau:

Single-Family Homes were down 4,000 units, or -1%
2-4 Unit Homes saw a negligible change
5 or more Unit Apartment Building Starts were up by 46,000 units, or +80%

Combined together, thses dat apoints do, infact, represent the reported 14% increase. But, the "surge" in nationwide housing starts reported by most news organizations occurred only in one category, the 5-unit-and-up apartment building category. Single-family housing starts were actually down by 1%, not up at all.

Like many things in the real estate business here in Georgia or elsewere, you need to work with a professional. "Introduce yourself to a reputable mortgage broker and a licensed Realtor and trust the information they provide. Don't just read the headlines and react," says Cheryl Stimac, a prominent Tampa FL real estate agent,

Have You Visited this New Sarasota Real Estate Site

2011-02-13T18:53:00.005-05:00

If you haven't yet visited this new Sarasota real estate website, you owe it to yourself to give it a quick view. We think you'll agree that this is a truly unique view of the Sarasota Florida lifestyle.

Among other attributes, this website offers descriptions of virtually all of the nicest Sarasota golf course communities and Sarasota waterfront communities. it also lists all of the most popular Sarasota attractions.

Lt us know what you think after your visit.

The Staff at Real Estate of Florida.com

Visit This Updated Sarasota Real Estate Website

2011-01-25T08:05:00.006-05:00

We'd like to introduce you to a dramatically updated Sarasota real estate webnsite by Andree Huffine of REMAX Alliance Group in Sarasota Florida.

You can learn more about the qualifications and expertise of this outstanding Realtor at Meet Andree Huffine as well as search for Sarasota homes for sale.

If you are particularly interested in Sarasota waterfront properties or Sarasota area golf communities, she has information and listings of properties for sale in those types of communities in and around Sarasota Florida.

Helpful "Snowbird" Guides Available

2011-01-08T08:50:00.003-05:00

This is the time of year when our friends from up North start coming to Florida to enjoy our fair weather and our casual sun-soaked lifestyle. Every year, more than a million Canadians and U.S. citizens from our more northern states migrate to Florida. Some are seasonal visitors while others consider becoming permanent citizens of Florida.

Some of these "snowbirds," as we like to call them, consider buying a home or condo here in the state of Florida. Some of these "Snowbirds" also seriously consider taking the additional step of becoming legal residents of Florida. Some do it justg to reduce the property taxes on the homes they by here while maintaining a home up North. Others intend to make Florida their permanent home.

In both cases, these folks often wish they had good sources of information to help them make a good decision about either buying a home or condo here in Florida or even becoming Florida residents. In both cases, there is much to learn before "taking the plunge."

There are two paperback books currently available for purchase that we think can be very helpful to those considering purchasing real estate in Florida and/or becoming residents of the state of Florida. We would like to point them out to our readers:

•"The Canadian Snowbird Guide" by Douglas Gray
•"The Official Snowbird's Guide to Becoming a Florida Resident" by Dean Hanewinckel, Attorney

These books arte available for purchase at Amazon.com so we have included below direct links to the Amazon.com pages on which they are advertised.

For those with an E-Reader device such as an IPad or Kindle, it is noteworthy that these two paperbacks are also available to be downloaded to your E-Reader.

These two books are also available from other Internet sites such as buy.com and books.Google.com and from from many local bookstores such as Borders and Barnes and Noble. We encourage you to consider taking at look at these books either before you come to Florida this year, or, if you are already here in Florida, at one of our local bookstores.

For a permanent home, a vacation getaway or an investment property, the Florida real estate market, with its recent deep price correction, is hard to beat. Contact a licensed Realtor in the community you prefer.

In Sarasota, for example, Judie Berger or Andree Huffine would be happy to be of assistance. In Tampa Bay, Cheryl Stimac would be pleased to answer any questions you may have.

Normal Sales, Short Sales , Forclosure Sales

2010-12-11T14:05:00.005-05:00

Educating home buyers says, Bob Henley, Sarasota Florida real estate agent, on the differences between a conventional arms-length home purchase, a short sale, and a foreclosure sale is a complex subject but worthy of someone taking the time to try to define the differences in them.

A normal arms-length conventional home purchase is a transaction between a Seller and a Buyer where the Seller and Buyer are the only two parties involved and each has independently decided on the price at which the sale takes place. Each of them may or may not be involved with a Realtor who is providing advice and cousel.
The negotiations of this transaction are straight-forward and defined explicitly in the sales contract executed between the Buyer and the Seller.

The condition of a home purchased in this way is typically good, although the buyer typically requests as a condition of the purchase the right to have the home professionally inspected for certain spelled-out conditions (termite damage and structural problems are typical). There are typically only two or three major opt-out features of such a contract. The first is if the home does not appraise for at least the amount of the sale price (or sometimes, just the amount of the mortgage being sought by the Buyer). The second concerns the ability of the Buyer to get approved for a mortgage of a certain amount which is also usually stated in the contract. And finally, there may be stated in the sales contract the option for the Buyer or Seller or both to walk away from the deal if repairs required as a result of the inspection exceed a given amount which is stated in the contract. If one or more of these criteria are not passed, the contract is frequently re-negotiated at a revised price to resolve the issue.. Closings can take anywhere from 30 to 45 days.

A Short Sale purchase, on the other hand, is a completely different type of transaction. A short sale typically takes place when the home is being sold for a price less than the amount of the mortgage due on it (hence the term “short” sale) The difference here is that a third party is involved in the transaction, the mortgage holder. The condition of the property is may vary considerably from a conventional transaction depending on whether anyone is currently living in the property and how well it is being maintained. It is also common for there to be multiple offers accepted and submitted to the mortgage holder. From there, it’s up to the mortgage lender to review their position on the outstanding mortgage and decide whether or not to accept the offer. This process can take months and there is no no guarantee that the lender will accept any of the offers. The mortgage lender may, in fact, even make a counter-offer asking for an adjustment upward of the price offered. In some cases there may have been one or more previous purchase offers submitted and the mortgage holder has already determined the lowest (or bottom-line) price at which they will let the transaction occur. In this case, a short sale4 may close in 3 - 4 months.

An experienced Realtor may know if the “bottom line” number is current, expired, or needs to be revisited with a lower offer. This is sometimes determined by the Buyers’ urgency to occupy the property. Now, as the short sale bank reviews the offer(s) they take into consideration past HOA dues, unpaid mortgages, any attorney fees, unpaid taxes and utilities, liens against the property, commissions to be paid, etc. If the offer does not cover these expenses AND meet their “bottom line number, then the Buyer may be asked to pay some or all of them.

A complicating feature of some short sales is the existence of a “second mortgage” on the home which brings yet another party into the transaction. My own opinion is that short sales involving first and second mortgages are seldom worth the effort required to try to get everyone to agree. The negotiations even on a home with a single mortgage and relatively few extraneous problems like past due utility bills and property taxes or past dues homeowner or condo association dues can be arduous and volatile. In the end, the mortgage holder, at least in theory, is anxious to sell the home before it goes into foreclosure and their net proceeds drops to an even lower number.

Once a short sale transaction is finalized, it is the generally responsibility of the mortgage company to provide a clean title, remove the current occupants, if any, and present the home in “broom clean” condition except as noted in the sale contract. Such is seldom the case on foreclosure purchases.

Foreclosure purchases are a little more straight-forward than a short sale but still require the advice of an experienced real estate professional. Foreclosure properties are sold at auction. The mortgage holder typically set a price at which that lender will buy the property back themselves rather than see it sold at a price below that. Some foreclosed properties are in good condition; but many will require considerable work to make them ready for occupancy by the Buyer.

Foreclosure transactions usually come with a set of guidelines are set forth with various addenda from the owning bank/facility.. It is advisable to have a real estate attorney review these documents carefully with you before entering the bidding. Foreclosed homes may also receive multiple bids, so the Buyer may be subsequently asked for a “highest and best” offer. Buyers needs to be wary of this action since it is easy in the heat of the process to raise your offer to a price higher than the property is actually worth in its current condition.

Buying homes through the foreclosure property auction process is not for the uninitiated. In fact, my advice would be that no one except experienced professionals who buy such properties and refurbish them for resale as a way to make their living should get involved in a foreclosure property purchase. The mortgage holder is going to get even less from this transaction than the worst case “bottom line” number he had expected when the property was on the market as a short sale so you can expect them to be very focused on achieving their new “bottom line” number. They have little or no interest in investing any more money to protect the property at this point so the property may deteriorate considerably while you are wading through the foreclosure process.

Buyers need to check with a local real estate attorney and the county government offices to find out how and where foreclosure sales in your area are handled, but some common features are:
• No loan contingencies allowed
• Sealed bids only
• Proof of financial qualifications required with the bid
• Sizeable earnest money deposit with the bid
• Property is to be purchased "as is"
according to Sarasota Realtor, Judie Berger.

Sometimes, according to Tampa FL real estate broker, Cheryl Stimac, buyers are not even allowed to inspect the home before making an offer making it nearly impossible to calculate how much it will cost to improve the structure or bring it up to a habitable condition. Also, the owning bank may even demand the bidders come to the auction with a cashier’s check in the amount of their offer in hand.

In a foreclosure transaction, the Buyer is usually required to evict the tenant or owner from the premises after receiving title. The eviction processes can be costly and each state has different rules about how long the current occupant can stay in the home after its sale at auction, so Buyers need to understand all that is involved in an eviction process. Finally, it is fair to say that the about-to-be-evicted resident has little incentive to maintain the home; he or she may even do serious damage to the interior of the home before being evicted.
Nonetheless when a foreclosure bid is in place and accepted, the transaction will close very quickly.

7 Commonly Held Real Estate Myths

2010-11-14T11:28:00.006-05:00

I'm often surprised, and occasionally amused, at the many real estate myths that continue to exist. Many people believe all of them and yet most of them need some deeper thought before being adopted wholeheartedly. Below I’ll present seven of the most commonly held myths.

Myth #1 - Never buy the most expensive home in a neighborhood.

What a home is worth “to you” is what is important. Think about it. At any given point in time, some home has to be the most expensive in that neighborhood. If there is a good reason why it is the most expensive and it meets your needs and desires perfectly, consider adjusting your view of it. Maybe you are looking at a neighborhood where people are buying up older homes and substantially enlarging, remodeling, or even replacing them. Some neighborhoods are active “tear-down” neighborhoods where nearly every home sale is a home about to be torn down and replaced by a much larger, more elegant home. So you may find a neighborhood where a home that has been redone completely already is priced above those that have not yet been updated. If you are prepared to live in the home for a number of years, ask yourself, “what will the neighborhood average price be in 2 or 3 years after most of the homes have been updated or replaced.” You may be looking at a bargain today.

Myth # 2 - Upgrades suggested by a builder always add to the resale value of the home.

Not true. What is true is that upgrades add to the profit the builder will make on the home. Whether a given upgrade adds resale value to a home depends upon how popular that upgrade is with buyers. For example, solid-surface counter tops like corian or granite are very popular with buyers today. Adding a closet to a room so when the home is resold that room can be classified as a bedroom will probably add value when the home is resold. Conversely, paying extra for the latest color appliance may not. Generally it is smarter and frequently less expensive to choose the most neutral appliance, wall and carpet colors. Some other upgrades cost much more than they will add to the resale value of the home. An experienced Realtor can provide you with this information.

Myth #3 - If an existing home has been on the market for a while, something must be wrong with it.

Usually, what was "wrong" with the property is that the price was higher than any buyer was willing to pay. When people sell their homes, especially if they’ve lived in it for some time, they tend to over-estimate its worth. This is caused by the fact that they “appreciate the home the way it is.” That doesn’t mean anyone else is going to be equally infatuated by it.

Time on the market is more likely simply an indication that the seller has been demanding more than the property is worth. Take the time to view it. It may also have some cosmetic defects that many people didn’t like but which can be corrected at little cost. An example is a home with way too many colors on the wall, really out-of-date wallpaper, or way too much furniture making the rooms look smaller than they are. A good Realtor should have pointed out these problems and gotten them resolved before the home ever went on the market but sometimes the seller refuses. So don’t refuse to view a home just because it’s been on the market for a long time. You may be looking at a home that has finally been priced correctly or that would be just right for you with just a little effort.

Myth #4 - Price per square foot is a good indicator of whether the price is right.

Price per square foot is an interesting, but marginally valuable metric. "A better metric," says Bob Henley, a Sarasota real estate expert, "would be the 'price per useful square foot,' something you cannot determine without visiting the home. " And, by useful, he mean “useful to you and your lifestyle.”

Some floor plans are very efficient while others have lots of square feet wasted in corridors, excessively large bathrooms, bedrooms or duplicate rooms. Once upon a time every home had to have a living room and a family room, an eat-in kitchen and a dining room. Today many people prefer a more open floor plan where one “great room” may encompass the kitchen, dining area and living area all in one large, open area vastly reducing wasted square footage. It also gives the home a more open feel, something very popular for today’s home buyers.

In addition, a home with extra insulation, double pane windows, a high-efficiency heating and central air conditioning system, and other popular trim and decor upgrades will have a higher cost per square foot and be well worth the extra cost.

Myth #5 - Buying a Foreclosure Property is always a good deal.

Let's define a good deal. A good deal is buying a house for under market value. In many ways, real estate properties act much like common stocks or any other type of asset. The less risk you are willing to assume, the more the asset (in this case a home) will cost. Foreclosure properties involve a lot of risk. That explains why they sell at prices well below other properties sold "at arm's length" in the same neighborhood. The risks you assume in buying a foreclosure property may reduce the market value of the property. If those risks turn out to be less than you had anticipated, you will have made a good deal. If those risks exceed your expectation, you could easily find yourself with a property that is going to cost a lot of money to refurbish impairing it's profit margin -- maybe even turning it into a loss.

Myth #6 - It's always better to get a bigger lot of land.

This one has really changed in recent years. Many buyers today are too busy to maintain a large lot and would just as soon have a smaller lot to care for. Given the busy lives many people lead, there is a trend today, especially in areas popular with retirees, toward “patio homes” where homes sit on very small, easily maintained lots but share larger common “community green spaces.” Unless there is some other reason why you want or need a large lot, there is no reason for you to pay extra to buy a home on a larger than average lot.

Myth # 7 - On a new home, the builder will charge more for the house if you use a Realtor® to represent you.

That is almost never the case. Builders are generally happy to have Realtors sell their homes. According to Janet Dugan, a Sarasota golf course homes Realtor, "generally, builders consider the fee they pay to a Realtor to be part of their "marketing expense", money they'd have had to spend one way or another to sell the home. In almost all cases, the home costs exactly the same whether you use the services of a Realtor® or not.

"In almost all cases," says Rich Stover, a Sarasota Florida real estate agent, "it doesn't cost you anything to have the advice and counsel of a competent Realtor representing you." And, the realtor may know things about this builder that you wouldn't otherwise be able to determine, like his his willingness to negotiate on price, his reputation for repairs after the sale and at what rate this neighborhood is being built-out giving you an idea of how long there will be construction machinery driving past your new home every day.

Sarasota FL Pursuing a Unique Approach to its Aging Population

2010-11-08T13:53:00.005-05:00

Before long, there will be more people over age 50 than under 15 in this world. As a result many mid-size cities find themselves with aging populations requiring more and more services just as their young professionals who would normally provide the tax base to support those needs are moving away. But, in some communities there is a new approach being taken. These cities are treating their aging populations as the focus of their strategies rather than as a problem.

Reviewing the approaches being taken by two different cities will illustrate this point.

According to the webmaster of the Real Estate of Florida website who until recently lived in Rochester, New York, the city of Rochester has spent millions of dollars trying to attract young professionals to live "in the city." The city and its suburbs are home to nine colleges and universities graduating thousands of young professionals each year. The city has given tax incentives to developers to redevelop old, vacant downtown factories and office buildings into loft living spaces. There is an almost constant stream of social and cultural events including a very extensive internationally-recognized jazz festival. They've encouraged the opening of trendy cafes, shops and upscale restaurants. They're tearing down what was the first enclosed mall in the U.S. to make room for more modern office spaces in an attempt to attract small and mid-size companies to move into the center city and bring young professionals with them.

It hasn't worked. Young professionals are leaving Upstate New York cities in droves, attracted to bigger cities, some in warmer climates, where there are more high tech jobs, lower taxes, and a more vibrant social life than Rochester can hope to provide.

In Sarasota Florida, by contrast, where the residents of 1 of every 2 homes is over 65, a different approach is being taken. Janet Dugan, a well-regarded Sarasota golf homes expert and volunteer herself, Sarasota Florida has chosen to focus its strategy on placing its aging population right at the center of its strategy, rather than treating them as a problem. Sarasota focuses its initiatives and investments on providing the products and services needed and wanted by those older citizens.

One rapidly expanding field in Sarasota is health care, the kind older people need and want. Sarasota Memorial Hospital and Health Care System is the second largest hospital in Florida. Some 1,300 doctors are employed in the Sarasota - Bradenton area. The Tamiami Trail (US Rte 41)and other major roadways in Sarasota are populated with pharmacies, clinics and other health-care related practices of all kinds, along with centers where one can learn about everything from computers to organic gardening -- all things seniors willingly spend their money on. These businesses bring young professionals to town to meet those needs and wishes. Its a different path to the same goal.

In addition, Sarasota focuses on supporting and expanding activities, functions and organizations that give seniors something to become involved in. Sarasota is awash in new and existing not-for-profit organizations where retirees can stay active and involved. The local 66-acre Ringling Museum complex, which includes an art museum, a circus museum, and the restored Ringling's family home, the Cà d'Zan Mansion, keeps over 700 older volunteers busy. And there are many more organizations like the Ringling. Sarasota even has a website to recruit volunteers for its many organizations and activities.

"There is so much going on in Sarasota to keep older people engaged, active and healthy that one local organization touts the region as a "Silicon Valley for the Aging," says Dick Plumb, a realtor focused on serving the needs of retirees looking for Sarasota golf course homes.

What does this mean to you if you are one of the many looking for a warmer, friendly and inviting place to spend your retirement years, the Sarasota - Bradenton area should be on your list of places to see before making a choice. Before you come to town, call ahead and plan to visit a professional Sarasota Buyer's Agent like Brian Ward Brian will be pleased to show you around town and show you homes and condominiums that fit your needs and desires perfectly at a price point that will surprise you now that prices have come down dramatically.

For a permanent home, vacation getaway or an investment property, the Sarasota real estate market, with its recent price correction, is hard to beat.

Miami Florida, The "Magic City"

2010-10-24T16:24:00.003-04:00

Miami Florida is also known as the “Magic City.” Located in Miami-Dade County on the Miami River, between the Florida Everglades and the Atlantic Ocean, Miami was incorporated in 1896. The City of Miami, known for its diverse culture and ethnicities is the largest municipalityin Miami-Dade County. According to the 2000 census, it has a population of 362,470. By the year 2010 the population in the City is projected to rise to over 390,000.

Miami is the county seat of Miami-Dade County, the most populous county in Florida, and the 8th most populous county in the United States, with a population of 2,500,625. A well-known global city, Miami is a major center, and a leader in finance, commerce, culture, media, fashion, education, film, print media, entertainment, the arts and international trade. Known as The Gateway to the Americas, Miami is a major international center, an important leader in entertainment, education, media, music, fashion, film, culture, print media, and the performing arts. The City of Miami is governed by a Mayor and 5 City Commissioners who oversee the five districts in the City.

The City has grown tremendously over the years, transforming it into one of the world's renowned centers where people work, live and play while enjoying a high quality of life amid warm temperatures and sunny skies. Janet Dugan, a fairly recent transplant from Miami to Longboat Key says, "I miss the vibrancy of the place. You don't know how much you like it until you've lost it."

Centrally located in a bustling urban area that is bursting with new real estate development, residential homes and eye catching attractions, Miami is truly a world class destination and Miami happily welcomes all comers; visitors, business people atending conferences or new residents. All are welcome into this diverse community.

Recent Sarasota Home Sale Stats Offer a Rare Bargain Opportunity

2010-10-20T16:24:00.004-04:00

Sarasota home and condominium sales statistics for September 2010 look very much like August 2010 and in fact almost exactly the same as occurred in September, 2009.

Sarasota Florida area real estate sales in September 2010 stood at 547, compared to 567 in August and 554 in September of 2009. The September median sale price of single family homes was $155,000 and $150,450 for condominiums, very close to last month’s and September, 2009 levels.

There were 404 single family home sales and 143 condo sales in September demonstrating that, even as a high level of distressed properties remain on the market, there is a continued and stable level of interest among singles, families and retirees considering buying in the Sarasota – Bradenton real estate market while prices remain at substantially depressed levels.

The Sarasota real estate market has essentially stood still for the past 12 months, with minor fluctuations in prices from month to month, according to Janet Dugan, a well-known Sarasota golf homes expert. She said, "Yes, there was the expected spike in sales during the period of the federal $8,000 first-time homebuyer tax credit, but, basically we’ve seen a high level of market stability this past year and that has been a welcome trend."

While times are tough for those forced to sell at these prices, it is really good news for prospective buyers that the median sale price of distressed property sales continues to be less than half as much as for normal arm’s length sales. In some cases, distressed property sales are selling for only a third as much.

Recognize, of course, says Bob Henley, a Sarasota Florida real estate agent, that "buying a distressed property requires more patience than an arm’s length purchase as the slow-moving short sale or foreclosure sale process unfolds. But, at the end of the process, there are real bargains out there that are well worth the wait."

So, if you are seriously considering, (or even just pondering the notion) of owning a home or condo in Sarasota Florida, there will never be a better time than right now to get involved. You can get involved very simply by requesting my Hot List of Sarasota Short sales and Foreclosure Properties. For even more immediate service, though, you may want to call me directly on my cell phone at 941-228-2321.

Ask a Sarasota real estate agent who is an Accredited Buyer Representative to work with you to assure that you get the very best Buyer’s Agent representation possible.

Visit the Chihuly Collection Exhibit in St Petersburg

2010-10-14T14:52:00.004-04:00

If you are a visitor or a new resident of Tampa Bay Florida and you are not familiar with Dale Chihuly's unique, and gigantic, glass works, you should pay a visit to this outstanding display. You'll be amazed at what you see.

A pioneer of studio glass art movement, Chihuly is credited with transforming the methods of creating glass art leading the development of complex, huge multi-part glass sculptures and environmental art. He has created a number of memorable installations including “Chihuly Over Venice” with the sculptures installed over the canals and piazze; "Chihuly in the Light of Jerusalem”, attended by more than a million visitors, and the “Chihuly Bridge of Glass” in Tacoma, Washington.

The Chihuly Collection is now permanently located in a new 10,000 square foot exhibit hall at 400 Beach Drive, St Petersburg in St Petersburg's downtown waterfront at the heart of the most vibrant tourist area. The exhibit is within walking distance of the Vinoy Resort and Golf Club, the St Pete Pier, the Museum of Fine Arts, a multitude of galleries, restaurants and shops, and in January, 2011 the new Salvador Dali Museum.

The Chihuly Collection includes Chihuly’s spectacular large-scale installations such as Ruby Red Icicle Chandelier created specifically for the Collection along with several popular series of his works including Macchia, Ikebana, Niijima Floats, Persians and Tumbleweeds which have thrilled audiences around the globe.

This presentation is the first installation anywhere of Chihuly's art in a building designed specifically for this purpose. The facility has been designed so the art and architecture work together to create a visitor experience unlike any other exhibition of Chihuly’s art. The entrance to the Collection has an iconic 20-foot sculpture created especially for the site.

The Collection is open seven days a week for your convenience.
Monday, Tuesday, Wednesday, Friday and Saturday, 10am–6:00pm
Thursday, 10am–8pm
Sunday, Noon–6pm
Closed only on Thanksgiving and Christmas day

Docent-led tours are every hour on the half hour. The last tour begins at 4:30pm on Monday, Tuesday, Wednesday, Friday, Saturday, and Sunday and at 7:15pm on Thursdays.

Single day passes for Adults start at $15.00 while seniors over 55 pay $13.00. Student's and children's prices are lower. For those who expect frequent visitors during the upcoming holidays and snowbird season, ther is also an annual pass for unlimited entrances for a full year priced at $99.00

US Economy In Better Shape Than Being Reported

2010-09-14T12:24:00.003-04:00

Although the U.S. economy is still soft and consumer confidence remains low, new data from several sources including the National Association of REALTORS® (NAR), the Bureau of Economic Research (BER) and others exhibit positive signs for the future of Americans, in general, and home buyers in particular.

Some of the biggest names in business have said recently that they see a bright future for the U.S. economy, with famed investor Warren Buffett declaring the country and world will not fall back into the grips of the recession. "I am a huge bull on this country. We are not going to have a double-dip recession at all," said Buffett, chairman of Berkshire Hathaway Inc. "I see our businesses coming back across the board."

Others agree. Steve Ballmer of Microsoft says, "I am very enthusiastic about what the future holds for our industry and what our industry will mean for growth in other industries."

Jeffrey Immelt, General Electric CEO says business at GE, one of the world's largest companies, is improving. "General Electric," he said, "is now finding it more profitable to build manufacturing and service centers in the United States rather than overseas, because it is more competitive.

U.S.-based CEOs have begun to notice that shipping costs, inefficiencies, and the longer lead times associated with building products overseas are eating up the higher profitability that was forecast a few years ago. U.S. corporations are beginning to favor manufacturing here creating American jobs. An example may be the start-up of new lithium-ion battery manufacturing plants in Michigan focused on taking America's participation in the worldwide battery production used for hybrid and electric vehicles from its current 2% to 40% over the next 5 years.

Some of the key economic facts published by NAR, BER and other economic analysis sources include the following:

•The U.S. economy is growing, though slowly. The private sector is finally creating jobs, 700,000 so far this year.
•While consumer confidence remains low, it is clearly up from its lowest point.
•30-year mortgage rates are at their lowest point in decades. 30-year mortgages are available at close to 4%.
•Personal income increased in July, 2010 by $30.0 billion, or 0.2%. Disposable personal income increased by $17.6 billion, or 0.2% according to the Bureau of Economic Analysis.
•Although bad mortgage loans during overly-loose lending practice periods are still causing foreclosures and short sales, recent home price-to-income ratios indicate that people are now buying homes they can actually afford to own.
•Consumers in all income brackets are paying down their credit card balances and starting to save more.
•Median home prices across the U.S. are stabilizing and economists expect modest home price increases in the 2011-2014 period.
•Real estate speculators have been driven out of the market removing a huge source of instability.

So why do we,as individuals, still express so little confidence in the economic recovery? To a large extent, the 7/24 hour cable TV news networks and Internet bloggers focus far too much attention on the latest outrageous or pessimistic statement or action by someone with an agenda, rather than someone with positive news or opinions. They have painted an economic picture that is much less positive than current underlying economic indicators and the CEOs of major U.S. corporations suggest is the case.

What does all this mean for you as a potential buyer of a home on condo. particularly here in the Florida real estate market? It means that the U.S. economy is finding its footing and slowly but surely beginning to rebound - not as quickly as anyone would hope but, in fact, at a faster pace than occurred in either of the past two recessions.

So if you have been delaying a decision on when to buy that Florida waterfront or golf course home or condo, it's time to come to Florida, work with a professional Buyer's Agent Realtor, and buy that dream home you've been wanting before the prices start to climb again.

Introducing the Lakewood Ranch Planned Community

2010-08-08T11:52:00.003-04:00

Lakewood Ranch is an 8,500 acre master-planned community on Florida's Gulf Coast developed on the border between Sarasota and Bradenton near to I-75, currently consisting of 7 villages including everything from maintenance-free condos and townhomes and single-family homes to the most elegant custom mansions on estate size lots.

Lakewood Ranch is one of the largest Green-Certified Communities in America. Every new village is built "green," incorporating building products that result in healthier, energy-efficient, and environmentally responsible homes.

Dick Plumb, who specializes in Bradenton real estate says, "Lakewood Ranch offer everything a family could want including gourmet and family-friendly restaurants, highly-rated schools, unique shops and boutiques, business parks, a hospital and medical center, three golf courses, an athletic center and even polo and cricket clubs." There are over 150 miles of sidewalks and trails, community parks, lakes and nature preserves shared with native wildlife.

Before the 2008 - 2009 housing bust, Lakewood Ranch had been one of the fastest growing communities in Florida. But that changed. New home building slowed to a crawl when the housing bubble burst. As recently as last October there was a nearly 31 month supply of unsold homes in Lakewood Ranch." "If things hadn't turned around, it would have taken more than 2 1/2 years to just sell all of those homes assuming that no additional homes were listed for sale during that period," one well estatblished Sarasota Realtor said.

Things are changing again, but this time for the dramatically better. Increased home sales in Lakewood Ranch have dramatically reduced the inventory of unsold homes. With their inventories depleted, builders are now flocking back to the area. By May of this year, inventories of unsold homes had fallen to just over a six month supply, which is considered a sign that supply and demand are back in balance and prices may begin to rise again. As a result, four new builders are preparing to break ground in Lakewood Ranch right now. Derek Nelson Homes, which recently bought the Arthur Rutenberg Homes franchise is gearing up as are Paradise Homes and a new builder, TruLiving Homes. Minto Communities, based in Canada, is also getting involved in the Lakewood Ranch home building spree.

LWR Communities, the developer of Lakewood Ranch, has plans for several new neighborhoods focusing on more affordable housing for those who work in or near the community. In addition to the new builders, other builders already in Lakewood Ranch are gearing up again. Neal Communities and its new luxury homes subsidiary, Neal Signature Homes are building again. Homes By Towne just returned to the market, while other who never left like Anchor Homes, John Cannon Homes, Peregrine Homes, Hannah Bartoletta Homes, Gibraltar Homes and Lee Wetherington Homes are also starting to build homes again.

With nearly half of its area set aside for open space or recreation, its 36 holes of golf, its eight-and growing number of shopping districts, and a constant flow of arts and cultural events, Lakewood Ranch could be the perfect place for you to start looking.

If you've been asking yourself when will be best time to buy a home or condominium in Lakewood Ranch or one of the other waterfront or golf communities in the Sarasota - Bradenton Florida real estate market, contact a local Sarasota or Bradenton Realtor like Judie Berger, a well-regarded Sarasota realtor today.

It's Hurricane Season - Are You Prepared?

2010-08-02T12:01:00.002-04:00

June 1st was the official beginning of this year's hurricane season. So, it’s time to review your preparedness. Having a disaster plan and supply kit ready will go a long way toward helping you and your family remain safe during any serious incident, hurricane or otherwise.

"First, let's not get crazy about this,' says Cheryl Stimac, a Tampa real estate expert. "Hurricanes have affected Florida, and Tampa Bay in particular, in any substantial way only very, very, very infrequently, but it is better to be prepared than caught unprepared should it ever happen."

Here are the steps you should take to assure that you and your family are ready for any serious storm or other incident that may occur whether you live in Tampa Bay, Florida or anywhere else.

# 1. Create a Family Disaster Plan and Get Ready
A family disaster plan is a checklist of things to do before and during a hurricane if you live in a vulnerable area. It includes important skills, items, and information that will help you survive the storm in good shape.

Learn about your home. How is your home most vulnerable to flood or wind damage ? Think of ways you can reduce each such risk.

Your standard homeowner’s insurance doesn’t usually cover flood damage, so check your current policy and consider a separate flood policy if you live in a vulnerable area. Even if you are not in a vulnerable area, ask your insurance company what actually is covered if water enters your home from a roof or broken window.

Take a Red Cross or other class on first aid, CPR, and disaster preparedness.

Decide upon the safest room or area in your home. That would normally be an interior room without windows and designate this as your safe room, where your family will go to and stay during a storm.

Choose a location outside but close to your home as a gathering place where all members of your family will meet if you are separated during the storm.

Map out an escape route from your home in case you have to evacuate. This should be a route to a primary emergency location and a secondary one as well. Friends or relatives that live outside your area are best as both primary and secondary locations.

Decide what to do with your pets if you have to evacuate. If possible, make sure your primary and secondary escape locations will allow your pet(s) to stay with you. Your family will do much better in an emergency location if they have their favorite pets with them for comfort.

Designate a friend or a relative who lives somewhere other than in Florida as a contact person, and plan for at least two ways to contact that person.

Make up a disaster supply kit stocked with all the items you may need during a hurricane. (See below).

If a hurricane watch is issued, check your disaster supply kit and make sure it’s well-stocked and in a location where you can get to it before or, even better, even after a storm.

Discuss all of the above with your family and make sure everyone knows what to do during a hurricane or other emergency.

# 2. Check your Disaster Supply Kit
"A disaster supply kit is something you must have while hoping you never have to use it," says Judie Berger, a Siesta Key real estate agent who claims to have more than a little hurricane experience. She says, "The kit should contain all the critical items you'd need if a storm does enough damage to cut off your electricity or temporarily isolate you and your family from the outside world. That emergency kit may be all you can count on having available to you if the storm hits your area and you either didn't or couldn't evacuate."

It is important to make sure that everything you put into the kit stays there. Don’t be tempted to remove items from the kit and use them for everyday life when you run short of something. It's just too easy to forget to replace items you remove from the kit during non-emergency times

Your kit should include at least the following

•At least one gallon of water per person in your family per day, with enough for at least 4 days (more if you can).
•Enough food for 3 - 7 days in the form of canned, dehydrated, or other non-perishable food items. Don't forget implements including a can opener, plastic utensils and paper plates. If you want to be able to cook food, you’ll also need to include some form of grill or other cooking equipment and a supply of fuel.
•Pet care items for your pets, including food and extra water, a leash and muzzle for dogs, and a cage or carrier for any small pets.
•A good first-aid kit, toiletries, and personal care items. Add any prescription drugs you take regularly to the kit whenever you hear a hurricane watch has been issued.
•Blankets, pillows, and clothing (including cold and wet-weather clothing).
•Battery-operated flashlights and radio, and spare batteries. Remember that things like batteries will need to be replaced periodically to assure that the ones included will work when needed.
•Particularly if you have children, books, toys, and games to keep yourself and them occupied during the storm.
•Store copies of important documents, including insurance policies, social security & bank account numbers, wedding and birth certificates in a waterproof package.
•Tools (battery or hand-operated only), and where practical emergency repair items you may want to have to repair damage done to your home.

Once you’ve assembled the kit items, store them in water-tight bags or boxes in a secure location (preferably in your designated safe room).

Make sure your family knows what the kit is for, where it’s located, and not to remove anything from it under any circumstances without your knowledge.

# 3. When a Hurricane Watch is Issued
If a hurricane watch is issued, you’ll take slightly different actions depending on whether or not you need to evacuate. In either situation, your first priority will be grabbing your disaster supply kit and gathering your family together.

Notify your designated contact person about the hurricane watch and tell them how you'll attempt to contact them if the storm actually hits.

Fill your car’s tank with gas

Get and some cash (ATMs and gas pumps will not work if the electricity is off).

Prepare your pets according to your disaster plan.

Notify the primary and secondary emergency locations you plan to go to if you are evacuated that you may be coming. Make hotel reservations now, if that is appropriate in your case. You can almost always cancel such reservations as late as 6 PM on the night you're expected to arrive, if the storm doesn't strike.

# 4. If you are evacuated
If you are ordered to evacuate, be patient and do things in an orderly fashion, but its better to leave early rather than late when traffic congestion may make escape impossible.

Go to the primary destination you planned in your Disaster Plan. If that’s not possible go to the secondary location you specified in your Disaster Plan hopefully a second friend or relative further away from the affected storm area. If its affordable, your secondary location might be a hotel or motel. Disaster shelters set up by various rescue and recovery teams are usually fairly uncomfortable and many won’t allow pets.

The most importtant thing according to Brian Ward, a Sarasota real estate agent, is to remain as calm as possible. That will make the process much less stressful on the members of your family.

Home Buyer Tax Credit Extension Helps Some Buyers

2010-06-30T21:37:00.004-04:00

Southwest Florida home buyers who already had home purchases under contract as of April 30, 2010 and who otherwise qualified for the first-time or move-up home buyer tax credit, but had not yet closed, have been given a break.

Thanks to an amendment to the home buyer tax credit program, these home buyers will now have until September 30, 2010 to close on their home purchases. Under normal circumstances, these buyers most likely would have closed on their purchases by the original deadline date of June 30th, but because of the huge number of mortgage applications filed, a huge backlog of in-process applications built up. This amendment gives them until September 30, 2010 to close on their home purchase and still qualify for the tax credit.

The “American Jobs and Closing Tax Loopholes Act of 2010,” which also extended unemployment insurance benefits includes this time extension. Senator Reid said this extension will allow lenders to clear a huge backlog of nearly 180,000 home buyer mortgage applications across the country.

National Association of Realtors President Vicki Golder said recently, “Since these applications were already in the pipe-line and included in the program’s cost, this extension of the closing deadline will not incur any further government costs.”

Judie Berger, an experienced Sarasota real estate agent welcomed the extension as a way to save a large number of pending home sales, particularly those involving short sale deals, which otherwise would be lost.

"More than just this program extension will be required to keep the nacent Floridareal estate recovery momentum moving forward," suggested Rich Stover, another Sarasota Florida real estate agent.

Spanish Main Yacht Club - A Hidden Gem on Longboat Key

2010-05-23T16:36:00.003-04:00

Located at the northern tip of Longboat Key, Spanish Main Yacht Club is probably the best-kept secret on Longboat Key, It is a delightful Longboat Key sailing and boating community originally built in 1967-1968 of stand-alone villas that are perfect for sailboat owners because of its deep water marina.

If you've been dreaming of owning a reasonably-priced waterfront villa where you can keep your sailboat right at your dock, Spanish Main Yacht Club is probably the best kept secret on Longboat Key. Villas have 2 bedrooms and 2 baths and range from about 1,000 to 1,400 sq. ft and are priced from the low-$200's to $650,000. Some are still awaiting upgrades while the more expensive units have been completely refurbished. Each has its own carport. This 55+ restricted community is pet-friendly and has a completely renovated clubhouse.

Residents of the Spanish Main Yacht Club villas get to watch dolphins and manatees romp in Sarasota Bay every day. Or, they can go sailing or fishing or just walk across Gulf of Mexico Drive to a privately-deeded access-way to gorgeous Longboat Key Beach.

Come experience the friendly Florida Sun Coast lifestyle and the boating paradise that is the Spanish Main Yacht Club on picturesque Longboat Key.

Bradenton Florida - A Wonderful Place to Live

2010-04-19T09:26:00.004-04:00

Ever since the Spanish explorer Hernando DeSoto visited Bradenton and Manatee County, Florida more than 450 years ago, the area has become more and more popular as a place to call home.

Bradenton is a certainly known as a "golfer’s paradise," but it is, in reality, so much more than that.

The city of Bradenton lies south of Tampa Bay. Bordered on the north by the Manatee River and on the south by the city of Sarasota, Bradenton sits on the mainland and is the gateway across the Intercoastal Waterway to the barrier island of Anna Maria Island. From there one can travel south onto Longboat Key.

Bradenton is the largest city in Manatee County with a population of about 50,000. It is a city where residents and visitors both have access to all the fun things that make the West Coast of Florida so appealing; gorgeous beaches and every imaginable water sport from fishing and scuba diving, and sailing on either the Intercoastal Waterway or the Gulf of Mexico. There is something fun to do virtually every day of the year.

And then there is golf. Bradenton has far more than its share of fine golf courses and golf course communities -- one perfect for whatever level of player you are. There are 20 public, semi-private and private golf courses in the city of Bradenton alone. While some are stand-alone golf courses, many are master-planned golf course communities complete with every country club amenity that so many come here to enjoy. Lakewood Ranch, Heritage Harbor , Rosedale, Waterlefe Golf and River Club, and The Concession are just five examples of the wide variety of golf and country club communities within Bradenton.

For a full list of the golf courses just in Bradenton, Florida, you may wish to visit this List of Bradenton Golf Courses.

Bradenton also is home to many arts and cultural venues. The Village of the Arts is a neighborhood immediately south of downtown where about 50 once dilapidated houses have been converted into studios, galleries, small restaurants and other small businesses, catering to the arts. The Village of the Arts, which prides itself as the largest arts district on the Gulf Coast, is definitely an area to visit.

Other attractions include the 10 acre Parma Sola Botanical Park and the south Florida Museum specializing in the natural and cultural history of the Florida Gulf Coast. It houses exhibits highlighting Florida history from the prehistoric to the present and includes the Bishop Planetarium and the Parker Manatee Aquarium, home of Snooty the Manatee. The Bradenton's Riverfront Theatre holds the first place title from the American Association of Community Theatre.

Education is also an important aspect of the Bradenton lifestyle. The Manatee County School District is an excellent school district and there are numerous private schools as well. The State College of Florida - Sarasota Manatee, Gordon University, the Manatee Technical Institute and the University of South Florida - New College are all located in Bradenton.

So, while golf and water sports are clearly top draws to Bradenton, there is surely something for everyone and every interest in Bradenton Florida.

Sarasota - The Florida Sun Coast Paradise

2010-03-18T19:56:00.004-04:00

Of all of the cities in Florida and the real estate available, Sarasota is probably the best place to consider buying a home right now. Over 40% of the homes on the market now are bank-owned or short sale properties so they are very attractively priced for both those who want a home of their own as well as those who are looking for investment opportunities.

Once known primarily as a vacation or retirement destination, metropolitan Sarasota today is known as the "crown jewel" of Florida's Sun Coast offering sophisticated arts, world-class shopping and dining, and every imaginable sports venue including many public and private golf courses, some among the best in the country.

If fishing, sailing, boating or scuba diving are your kind of fun, you'll find every facility you could wish for. Add a constant flow of community events and year-round good weather and Sarasota ranks among the nation's 15 "most livable communities," according to Money Magazine. And don't forget, Sarasota's island Keys, Lido Key, Siesta Key, Longboat Key and Casey Key have among the finest beaches in Florida.

And, Sarasota is a great place to raise a family. Sarasota's public schools serve over 40,000 students. There are also private schools of various affiliations. Nearly 80% of Sarasota teachers have post-bachelor degree training. Two-thirds of high school graduates go on to college.

Contact a Sarasota real estate expert like Brian Ward or a golf course communities expert like Rich Stover or Janet Dugan, both honest and competent Sarasota real estate professionals.

Other competent Florida Realtors can be found on the Best Realtors in Florida website.

Heritage Harbour Golf Community in Bradenton Florida

2010-03-14T17:02:00.008-04:00

Heritage Harbour is a new master planned golf course community in Bradenton, Florida bordering the Manatee River east of I-75. Heritage Harbour is situated on more than 2,500 acres of riverfront property including 200 acres of island in the Manatee River. You can read all about this lovely golf course community and others at the Sarasota Golf course communities website of Connie Belmont.

Residents of Heritage Harbour enjoy numerous amenities offered by this popular new community including golf, convenient shopping and the many outdoor activities. The community is comprised of manicured natural preserves and lush landscaping, beautiful boulevards and the grand Signature Lighthouse adjacent to Central Park. The centerpiece of Central Park is 70-acre Beacon Lake surrounded by a trail for walking, jogging, skating,and biking. In this wonderful park, you and your family can enjoy swimming, tennis, basketball and volleyball, as well as fishing, canoeing and just relaxing in a gazebo.

The Stoneybrook golf course at Heritage Harbour is a test of championship caliber golf. The 18-hole, par-72 course plays through a landscape highlighted by mature woods, wetland preserves, ponds, and lakes.

If you would like to know more about the Heritage Harbour golf course community, I know that either Judie Berger, a well-known Sarasota Florida real estate professional would be delighted to show you around this wonderful new Bradenton Florida community.

Intro to Heritage Harbour in Bradenton FL

2010-03-14T17:02:00.005-04:00

Heritage Harbour is a new master planned golf course community in Bradenton, Florida bordering the Manatee River east of I-75. Heritage Harbour is situated on more than 2,500 acres of riverfront property including 200 acres of island in the Manatee River.

Residents of Heritage Harbour enjoy numerous amenities offered by this popular new community including golf, convenient shopping and the many outdoor activities. The community is comprised of manicured natural preserves and lush landscaping, beautiful boulevards and the grand Signature Lighthouse adjacent to Central Park. The centerpiece of Central Park is 70-acre Beacon Lake surrounded by a trail for walking, jogging, skating,and biking. In this wonderful park, you and your family can enjoy swimming, tennis, basketball and volleyball, as well as fishing, canoeing and just relaxing in a gazebo.

The Stoneybrook golf course at Heritage Harbour is a test of championship caliber golf. The 18-hole, par-72 course plays through a landscape highlighted by mature woods, wetland preserves, ponds, and lakes.

If you would like to know more about the Heritage Harbour golf course community, I know that either Judie Berger, a well-known Saeasota real estate expert or Janet Dugan, who specializes in Sarasota golf course homes would be delighted to show you around this wonderful new community.

Making a Short Sale Purchase Offer Attractive

2010-02-06T20:28:00.009-05:00

Florida, and particularly Sarasota County is an area filled with attractive foreclosure and short sale opportunities. A short sale or a foreclosure is a great way to buy a home or condo, but you must understand what you are getting into. This is definitely not a typical "buy a home" deal. You need to know what to look for and what to look out for.

A short sales occurs when a lender allows a house to be sold for less than what is owed on the mortgage on the property. Generally, the mortgage holder is hoping to take less of a loss on a short sale transaction than they'd get by letting the home go through the foreclosure process. Once a lender takes possession of a home though foreclosure, it is responsible for all of the cost of maintaining the property until it is sold. That can get expensive.

Since the lender, not the owner of the property, is the one responsible for approving the sale, it is important to make your offer as appealing as possible to that lender.

(1) It’s important to get a mortgage pre-approved with a qualified lender. A pre-approval letter is a MUST for short sales to prove you offer is serious.
(2) Do not bother trying to negotiate repairs or improvements to the property. In virtually all short sale and foreclosure deals, the lender wants an "as-is" sale.
(3) Offer a substantial earnest money deposit. A local Realtor can tell you what is going to be considered a serious deposit.
(4) If possible make your offer a conventional mortgage loan. "All cash" offer are even more appealing.
(5) Offering a large down payment makes your offer more attractive than competing offers. Here again, a local Florida Realtor can advise you.

It’s important to be patient on these types of home purchase offers. Short sale deals go through several more steps than a regular home purchase transactions. A typical short sale deal may take two months or more before you'll get an approval or denial.

Even with these constraints, a short sale home purchase can be a very attractive approach to home ownership. But don't try doing this alone unless you are an experienced real estate investor. Call upon a local licensed Realtor. In Bradenton Florida, for example, you'll find Brian Ward offers expert assistance on Bradenton real estate short sales. In Sarasota, Connie Belmont would be an excellent Sarasota real estate buyer agent.

Why Is It important to Know the Mortgage APR ?

2010-01-11T10:39:00.002-05:00

Mortgage APR or the Annual Percentage Rate helps you to determine the total cost of the loan. The Truth in Lending Act (TILA ) has made it necessary that a borrower be informed about the total cost of the loan so that the borrower is not taken for a ride.

Although the Annual Percentage Rate or mortgage "APR" doesn’t influence the monthly mortgage payments, there are many factors that are taken into account while calculating the APR. Some of the parameters that are used to calculate the Annual Percentage Rate are as follows –

• Mortgage insurance premiums
• Origination fees
• Prepaid mortgage interest
• Points
• Application fees
• Tax services
• Fees for document preparation
• Underwriting fees etc

Fees not included while calculating the Annual Percentage Rate include the following –

• Appraisal fees
• Title fees
• Notary fees
• Attorney fees
• Cost of credit reports
• Home inspection fees etc

So, it is important to know the APR when you shop around for a mortgage. But APR also has few drawbacks. Let us see what they are –

No matter how hard regulators try to establish uniform standards related to mortgage lending, but APR or the Annual Percentage Rate doesn’t give the true picture of the loan cost. While calculating the APR, there are some categories of fees that are not taken into account. For instance real estate attorney fees are not a lending cost. This is not paid to the lender but to the attorney. Moreover, attorney fees may not be the same everywhere. Attorney fees is being referred to as “pass through cost” that is in no way related to lending cost. So, there are certain irregularities that may create complications while calculating the APR.

It may be the case, that there are 2 lenders that have the same information but may calculate the APR by using different methods. There are many lenders that calculate the APR using software packages. So, a particular software package will have calculations based on assumptions that are software specific. So, the results may vary widely from one lender to another. Although calculating mortgage APR may have certain pitfalls, the mortgage APR is considered as a starting point for “an ad-hoc comparison of lenders”.

Florida real estate news isn't good, but there are encouraging signs

2009-11-20T11:15:00.005-05:00

The Florida real estate market, with few exceptions, is still is a beaten-down condition although it is beginning to show a few signs of life. The state's high unemployment rate at 11.2% in September, the highest its been since the mid-1970's, isn't helping.

Most economists seem to feel that, on a nationwide basis, the recession is over, but you would not know it if you ask the average Florida "man on the street." They either can't find work themselves or know others who cannot. As a result, people are wary of investing in anything, including real estate.

Timothy Becker, director of University of Florida’s Center for Real Estate Studies noted that Florida was one of the first states into the recession, and it’s probably going to be one of the last ones out.

On the brighter side, the extension and expansion of the home buyer tax credit may help. Anyone who hasn't owned a home in the past 3 years is eligible for up to a $8,000 tax credit on a first-time home purchase. This program had a positive effect in 2009 and hopefully will help again in early 2010.

The fact that existing home owners, with certain income limitations, are also now eligible for up to a $6,500 tax credit means that of those who have a positive employment outlook may be begin to be willing to "move-up" to a bigger home.

The median sales price of a Florida home in September fell to $142,000 from the year-ago figure of $174,900, a 19% decrease, according to the Florida Association if Realtors. These substantial price reductions are also a positive in that they make homes more affordable to more prospective buyers.

On a cautionary note, the extension and expansion of the home buyer tax credit program requires that participants sign a purchase contract by April 30, 2010 and close on the purchase by June 30, 2010.

So, this current real estate market isn't real great, but there are a few positives that can help lift the Florida real estate market for a while. Overall, though the economy of the state, and that means "jobs" as a whole has got to pick up for a real estate recovery to be sustained in the future.

You Dont Have to be A First-Timer for the Extended Home Buyer Tax Credit

2009-11-06T16:49:00.006-05:00

The current first-time home buyer tax credit, due to expire at the end of November, has been extended through April 30, 2010 by Congress and is on its way to the president for his signature. Realtors have reported that the first-time home buyer tax credit has had the same positive effect on home sales that the "cash for clunkers" program had on automobile sales.

The legislation expanded eligibility for the home buyer tax credit to include people with higher incomes and those who have already owned a home for at least five years so long as they sign a purchase contract by April 30, 2010 and close on the purchase by June 30, 2010. The $8,000 maximum first-time buyer tax credit will continue and now be available to individuals with incomes up to $125,000 and couples with annual incomes up to $225,000. Home buyers with incomes up to $145,000 and couples with incomes up to $245,000 will be eligible for reduced tax credits.

Under similar income limits, a $6,500 maximum credit will be available to those who already own a home and presumably wish to move up to a larger home.

Under the new income limits, two-thirds of all American families who own their own home may be eligible to buy a new home. While buyers will not be required to sell their current home to qualify for the new tax credit, the money must be used to buy a new "primary residence", not a vacation home or investment property.

To keep speculators out of the program, people who claim the credit but then sell the home or no longer use it as their primary residence within three years will be required to repay the credit. The intent is to exclude from the program speculators who might purchase a home intending to flip it for a fast profit, according to Max Baucus, chairman of the Senate Finance Committee.

Here's a "heads-up" to those who may have considered buying a first home under the prior program but didn't get around to it.

"Contact a Realtor and get started now. You only have until April 30, 2010."

Legislators in both houses of Congress have indicated that this costly program will not be extended again. Critics point out that only about one-fourth of the homes purchased under the prior program would not have been bought anyway without the costly tax-credit program. There are also concerns that the previous tax credit program encompassed high numbers of fraudulent transactions. In this version of the program, the Internal Revenue Service has been given much wider authority to oversee the process to root out fraud.

Home Sales in Sarasota Take Off in September, 2009

2009-10-30T13:55:00.003-04:00

Sarasota home sales soared in September, 2009 surpassing even the most optimistic forecasts.. The median price pf homes and condos, being held down by foreclosures and short sales certainly helped produce the high volume the sales..

Real estate expert Barbara Corcoran on a recent Today Show declared Sarasota Florida to be the #1 city in the entire U.S. in which to buy a home right now, citing dramatically lower property prices (as much as 30% off the highs reached two years ago). The sales volume and reduced prices have resulted from lots of foreclosures and short sales in the area in recent months. Ms. Corcoran also noted, however, that prices have just begun to swing back upward.

She also praised the unique Sarasota attractions and amenities including sports, arts, cultural facilities as well as the excellent health care and schools in Sarasota Florida.

Sarasota home and condo property sales in September rose by nearly 35% in September 2009, compared to September, 2008, and nearly 10% over August of 2009.

Those who have been dreaming of one day owning a seasonal golf course or waterfront home for now, planning to move to Sarasota permanently when you retire, need to come to Sarasota right now, as Barbara Corcoran suggested, to see and take advantage of bargain prices that haven't been seen for several years.

Don't Lose Out on Your Capital Gains Exemption

2009-10-24T11:29:00.004-04:00

For those who have already bought their retirement home or condo in Florida, it seems like an obvious move to change your legal residency to Florida to avoid paying income taxes on your earnings from up North. Many people do this even while maintaining their homes up North until they decide they are ready to move to Florida full-time.

But beware, you may be setting yourself up for a "big" tax bill.

The home seller's capital gains tax exclusion on the sale of your home up North is only applicable if that home was still your "principal residence" for at least 2 of the past 5 years before you sold it. Put simply, once you become a Florida resident, which is usually accomplished by doing things like registering to vote in Florida, registering your auto in Florida and then spending more than 6 months and a day in Florida each year, you only have 3 years to sell your home up North before the capital gains exemption on the sale of the home up North expires.

Once you lose that capital gains exemption, you will be hit with the standard 15% federal capital gains tax on the gain on the sale of that home as well as any state taxes that may also be due on that gain.

If you have questions or concerns about this, contact a knowledgeable real estate attorney or your accountant to assure that you don't give away a lot of money to your state and federal governments..

Sarasota Florida Ranks High as a "Smarter City

2009-10-01T11:13:00.006-04:00

Sarasota Florida has just been ranked at the Number 4 spot on its list of the top small “Smarter Cities.” The rankings of :smarter cities" was done by the The Natural Resources Defense Council (NRDC). Sarasota was recognized for the quality of its air and water as well as its environmental standards and participation in programs like green buildings, green space and recycling. "Smarter Cities" are considered to be more efficient, more environmentally conscious,and cleaner and therefore more enjoyable communities in which to live.

Sarasota was scored by www.smartercities.nrdc.org, an NRDC-affiliated website. The city of Sarasota ranked 4th after Bellingham, WA, Mountain View, CA and Norwalk, CT in that order among "small" cities; those with populations between 50,000 and 100,000. No other Florida city made the top 10 list of "Smarter Small Cities."

The SmarterCities.nrdc.org website said “... Sarasota has involved its residents through environmental education at schools, community groups including the local women’s club and Boys & Girls Club, and outreach programs like Sustainability Advocacy Volunteer Educators, which provides green internships for high school and college students."

Sarasota had begun a water-quality program as early as 1989 in the interest of water conservation and protection. The city’s water system now reclaims 70% of waste water annually. Conservation-pricing is used to encourage consumers and businesses to use less fresh water. Lawn and garden watering is limited to one day per week.

Sarasota has even started a "rain-barrel demonstration" project at City Hall for watering flower beds without sprinklers, and created a how-to guide for residents to use at home. To protect local landscapes and irrigate efficiently as well as to promote native growth and wildlife, the city encourages Florida-friendly landscaping.

“The city’s Environmental Management Task Force was formed in 2007. In April 2008, the city created a full-time Environmental Services position. The city government now expedites permits for Green Development and Green Building.

A few examples:

Since initiating a "tree-planting" program in 2000, over 100,000 trees have been planted in City right-of-ways. Sarasota has committed $1.5 million in the next 10 years to the "Green Canopy Partnership" tree-planting program.
The North Sarasota Public Library was only the second library structure in the nation to be certified as a "Leadership in Energy and Environmental Design" LEED Gold structure for its use of low-VOC paint and carpeting, water-wise landscaping, and use of recycled building materials.
The city government helped found the "Sarasota Bay Estuary Program," dedicated to protecting Sarasota Bay and its connecting waterways.
Sarasota has a "Green Business Directory" giving visibility to those businesses which provide green products and services.

There is a lot to like about Sarasota Florida including its warm balmy climate, abundant sunshine, golf courses of every type and level of difficulty, soft white beaches, and a vibrant assortment of recreational and cultural activities for every taste and budget. Sarasota offers big-city amenities with a small-town way of life, but its also refreshing to live in a community so actively involved in assuring that the quality of life currently enjoyed by residents stays that way and even improves over time.

The $8000 First-Time Home Buyer Tax Credit

2009-09-13T12:09:00.004-04:00

Will It be Extended or Not

Capitol Hill may be vacant right now as Senators and Congressmen are home listening to their constituents, but real estate and home builder lobbying group[s are actively working on a full-bore campaign to extend the $8,000 first-time home buyer tax credit currently scheduled to expire on November 30, 2009.

As you may know, the American Recovery and Reinvestment Act of 2009 (the stimulus package) authorized a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence between January 1, 2009 and November 30, 2009. The program has been quite successful in reducing the inventory of unsold homes while helping many afford to buy a first home.

The National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) are both hoping to persuade Congress to pass legislation to extend the tax credit as soon as possible after Congress returns to Washington next week. The two associations are contacting members of Congress even while they are in their home districts during their congressional recess. One of the things they are pushing for, in addition to an extension of the first-time home buyer credit, is to expand the program to cover all home buyers through the end of 2010.

Senate Majority Leader Harry Reid recently indicated that he believes “it's something we can get done.” Senate Banking Committee Chairman Democrat Chris Dodd and Republican Johnny Isakson are sponsoring a bill that would extend the credit through 2010 and expand it to a $15,000 maximum. In the House, two bills have been introduced to extend and expand the credit for either 6 or 12 months. Both the NAR and the NAHB organizations are strongly supporting these initiatives.

With this impetus, it seems likely that in one form or another, the tax credit will be extended into next year, but...

As we've come to understand, there is no such thing as a "sure thing" in Washington. NAR spokesman Walter Molony recently justified his organization’s support for the tax credit saying that it is reducing the inventory of unsold homes and stabilizing pricing, benefiting the economy since in his judgment house prices “overshot to the downside.” But, the NAR also estimates that 1.8 million to 2.0 million first-time buyers will take advantage of the $8,000 first-time home buyer tax credit before the current version expires. the program, as it now exists is expected to cost about $15.20 billion.

Viewed another way, however, NAR's own estimate is that only 350,000 of the homes sold under the program would not have been sold without the tax credit. If you now divide the $15.2 billion the program cost by only those 350,000 homes that would not have been sold without it and you get a whopping $43,000 per additional home sold. And, critics say, the numbers will only get worse if the program is extended and expanded to cover all home buyers.

These negative views of the program could lead many fiscal conservatives in both the Democratic and Republican parties to complain that any extension will only add to the ballooning national debt. Legislation that looks, at any given moment, as if it will clearly be enacted can be delayed, watered down, or frustrated in the House and filibustered in the Senate.

Don't assume this program will be extended. If you are in the market for a home, and particularly if you haven't owned a home in the past three years, so you qualify for the current $8,000 tax credit, you should be working with a Realtor right now to buy the home you've been wanting so you can close on it before the November 30th expiration of the current program. If you aren't already involved, contact a Realtor and get started toward owning your piece of our Sunny Southwest Florida paradise.

All About Short Sales

2009-07-02T15:23:00.008-04:00

Now that you're hearing so much about them, you may be wondering what exactly a "short sale" is. In most cases, it is a property for sale whose owner is facing foreclosure and trying to preserve his/her credit rating.

Short sales are different from other property sales. Instead of only involving two parties, the buyer and seller, a short sale also involves the holder of the mortgage loan. The seller has approached his or her mortgage holder requesting to sell the property for less than the balance owed on the mortgage, thus the expression “short” sale. The mortgage holder may reject that request and proceed into foreclosure, but many banks are ready now to accept less money for a property than is owed on it because a short sale will likely cost the bank less than putting the property through foreclosure. A short sale can be a good deal for the seller and it can also make the property a good deal for a buyer.

If you are a buyer looking for a great deal, a short sale properties can be an attractive option although you need to understand the differences between a normal real estate purchase and a "short sale." In a short sale, the buyer and seller negotiate and agree on a price as with a normal real estate transaction. The differences are as follows. You will have to offer to buy the property "as is." The seller is very unlikely to agree to pay for any repair needs uncovered during a home inspection. You also will not be able to stipulate any contingencies. At this point, the process moves out of the seller’s hands to the bank’s loss-mitigation department.

To increase your chances of a successful offer, make your offer price reasonable and include a substantial earnest money deposit. If you plan to use a mortgage to pay for the home, include a lender approval letter with your offer.

A buyer's offer usually takes about 30 or more days to get through the bank's loss mitigation process. Mortgage holders seldom make counter-offers and some banks will not notify you or your Realtor if the offer has been rejected... only if it is accepted.

If you are a prospective short sale buyer, any licensed Florida Realtor will work with you to get you the best possible deal.

$1.8 Billion In Stimulus Funding Coming to Florida

2009-06-20T18:14:00.005-04:00

The U.S. government just released $1.8 billion in stimulus money for education to Florida, two weeks after the state applied for a waiver required because the state underfunded education in previous years.

"The $1.8 billion Florida will receive today is part of the single largest boost in education funding in recent history," Secretary of Education Arne Duncan said in a statement. 'Florida can now utilize these funds to save jobs and lay the groundwork for a generation for education reform."

Although the money is expected to plug holes in school-district budgets to save jobs, South Florida's school districts might still see layoffs. Some observers fell, however, that contrary to all the rhetoric about `how it's to save all these layoffs, the reality is it's only going to help the state have fewer layoffs.

School districts won't be getting the funds directly from Washington. Florida law makers, confident the state would get the money, allocated funds to shore up the education portion of the 2009-10 budget the Legislature approved last week. That means that legislators could tout a small increase in per-student spending in Florida. But they reshuffled and reduced other parts of the education budget to do so, leaving school districts with less money than they had last year.

In addition to the $1.8 billion in so-called state stabilization funds, Florida has received almost $600 million in education stimulus dollars -- including about half the money the federal government designated for low-income schools, programs for disadvantaged students and other grants. Another $891 million in stabilization money will also become available this fall.

To receive the funds, the state had to assure the federal government that it would closely track education statistics, including annual student improvements, the effectiveness of state standards and assessments, and interventions in turning around under performing schools.

Florida will also have to report how many jobs will be saved using the stimulus money, how the funds are used and what state and local tax increases are avoided because of the federal dollars.

You Can Control the Energy Cost of Heating & Cooling Your Home

2009-06-15T18:30:00.004-04:00

As we enter the warmer part of the year in Florida, it is useful to remember that as much as 50% of the energy used in your home goes to heating and cooling. If you are trying to save money or you're trying to embrace a "greener", or more eco-friendly lifestyle, do you know enough about the nature of heat transfer to make the right decisions? Let's review the basics of how "heat" works.

Heating and cooling your home are both instances of "heat transfer." First, let's dispense with the notion that heat always rises. That is true in only one form of heat transfer. In general, heat energy flows in all directions equally. There are three different ways in which heat is transferred; conduction, convection and radiation.

Conduction is the form of heat transfer through a material, for example, the walls of your home in summer and winter. For any given amount of in-wall insulation, measured in its R-value, conduction is what accounts for the heat loss (or for cooling, heat-build-up) through the walls and roof.

Convection heat transfer occurs when heat travels in a moving fluid or gas, for example the heat energy that moves along with the passage of air. The "wind chill factor" you hear about in northern state weather reports is a measure of how much heat energy is transferred by convection when you're outside due to the effect of wind.

The third form of heat transfer is radiation. Radiation is the transfer of heat energy through empty space, or the way the sun warms the Earth. Radiant heating is not affected by being in contact with a solid material the way conduction loss does, or by moving along in a fluid or gas the way convection does. Radiant heat transfer is what warms your home when the sun is out.

You can use your knowledge of these 3 forms of heat transfer to make your home building or remodeling project more energy efficient.

You can reduce the amount of heat build-up or conversely, cooling loss due to conduction through your walls by increasing the R-value of the insulation in the walls by adding more. Installing double pane windows and sliding glass doors, if your home wasn't built with them originally, will reduce conductive loss of those items. The gases between the two panes of glass (like argon and krypton) along with films and coatings (like "low-E") can increase the insulating value of your doors and windows from R-2 to R-6 or more.

Caulking or using foam insulation material to seal crevices or openings around doors, windows and electrical outlets will reduce convection heating or cooling loss caused by air infiltration.

Fireplaces are a big source of convective heat transfer as air continuously flows up the chimney if the flue damper isn't air-tight. If you have, or are planning, on a fireplace put air-tight glass doors in front of it and keep the flue damper closed when the fireplace is not in use. But, beware, don't forget to open that damper before your start the fireplace. Just remember to close it again when the fireplace has cooled back down.

Many sources of heat build-up (or cooling loss) are affected by more than one form of heat transfer. Since windows and sliding glass doors suffer from both conductive and convective heat transfer, consider using high energy-efficiency Energy Star doors and windows for any building or remodeling project. As another example, while radiant heat transfer is why a home with a roof exposed to the sun gets warmer due to radiation, you can use convection to your advantage to alleviate part of the problem. Installing a heat-activated fan system in your attic will use convection to blow the heated air in your attic out through vents preventing it from transferring its heat energy, through conduction and convection, into your living space below.

If your home is in a particularly sunny locale, you may want plant large deciduous trees, such as river birch, on the south side of the home for shade from the sun in the summer. Equally, you can avoid radiant heat build-up from the sun by closing drapes and blinds on the southern side of your home in the summer, yet take advantage of the sun's radiant heat transfer by keeping the drapes and blinds open during the day to allow sunlight to enter and warm your home during cooler months.

If it's time to replace your heat pump or any appliance, look for Energy Star-rated appliances. Energy Star-rated appliances like clothes washers, dryers, refrigerators, dishwashers and dehumidifiers not only use less electricity; they also transfer less heat into your home through all three forms of heat transfer, conduction, convection and radiation.

Pay attention to smaller changes that offer big savings, many of which are more efficient because of their lower heat transfers. Use energy-saving compact fluorescent lamp bulbs. Turn off all lights when not in use; lights generate radiant heat. Keep shrubs and other obstructions from blocking free air flow around your external heat pump unit which relies upon convection to dissipate its heat build-up. And, change your furnace filter every 3 months. A dirty filter slows down air movement reducing the effectiveness of the convection heat transfer your air conditioning system relies upon.

Understanding the different kinds of heat transfer and how to use that knowledge to reduce your home's energy consumption can save you a serious amount of money as well as make your home more comfortable to live in.

Foreign Nationals Are Finding Florida Homes Attractively Priced

2009-04-21T12:06:00.010-04:00

While there have been many contributors to the decline of home prices and home sales in Florida, an increase in the number of foreign national home buyers has limited the damage. The National Association of Realtors (NAR) conducted a survey in 2008 of over 4,800 Realtors who had completed over 4,000 real estate transactions involving a foreign buyer. They found that foreign national buyers recognize U.S. real estate as desirable, profitable and secure investments.

The U.S. credit crunch and the flood of homes and condos for sale in Florida has created some outstanding opportunities for foreign nationals. According to Cheryl Stimac, a Tampa Florida real estate broker, "Snowbirds from Canada and the United Kingdom are flocking to the warmer climate particularly in Florida." "The relative weakness of the dollar, she said. "along with reduced prices have given 'snowbirds' who have dreamed of owning a second home in Florida the opportunity to fulfill their dreams."

If you are a Canadian or other foreign national, before you purchase your get-away spot, though, you would be well-advised to understand the differences between your own local and U.S. home buying processes, as well as the tax implications of owning a second home in the U.S.. An experienced Sarasota Realtor like Rich Stover, can help you understand the Florida real estate buying process and its implications.

Focus on Existing Properties in Established Developments
Real estate consultants have been recently advising foreign nationals to give preference to existing properties in established developments. This avoids the problems associated with unsuccessful developments where the nature of the development and the surrounding area can change quite dramatically if the original developer goes into default and the property is taken over by a different developer. While this may mean that you the buyer miss the opportunity to buy at so-called "pre-construction" bargain prices, nut the reduction in risk may prove well worth the slightly higher price you'll pay.

Qualifying to Buy
Since it is more difficult to track down foreign nationals in case of a mortgage default, Florida lenders require more up-front evidence of financial stability from their foreign national buyers. Some lenders require that buyers place closing costs plus 12 months of principal, interest, taxes, and insurance (PITI) in a U.S. bank account. They may also require foreign nationals to put more money down, as much as 25 - 30% and demonstrate that they have liquid reserves available to cover three to six mortgage payments.

Financing and Closing Costs
Begin the loan pre-approval process before you begin searching for a home or condo in Florida> In this way, when you find the that dream second-home you’ve been searching for, you will be negotiating price with the seller from a position of strength. The seller will know upfront that you are fully prepared and "qualified" to buy.

Expect the length of your mortgage loan to differ from what you may be used to. For example, rather than the Canadian standard of one to ten-year mortgages, U.S. mortgages are typically written for 15 or 30 year terms.

It may take more time to complete a real estate sale in the U.S. Be prepared to wait three to five weeks or more to close on your Florida real estate property once you have a signed purchase contract. During that period, all of the third-parties involved (inspectors, appraisers, insurance companies, title companies, etc.) will be conducting their portions of the transaction.

Minimizing Your Taxes & Protecting Your National Health Benefits
Understand that even though you are a citizen of Canada or other nation, you may be treated as a U.S. citizen for tax purposes if you spend too much time at your Florida get-away. In general, limiting your time in Florida to less than six months each year minimizes your tax implications and may not compromise your national health care benefits.

If you rent your Florida property for the portion of the year that you spend in your own country, you will need to file a federal U.S. income tax return. You will have to declare your rental income, but you may be able to deduct expenses such as maintenance, utilities or mortgage interest. Since Florida doesn’t have a state income tax, income from the property will only be taxed by the federal government.

Property Taxes
Be aware that non-residents of Florida do not get all of the property tax advantages granted to permanent residents of Florida, so be sure to inquire as to the difference this will make in your on-going costs. Again, a competent Realtor can explain these restrictions to you.

Property Insurance
Property insurance in Florida can be expensive. One way to limit this is look for properties built after the most recent set of building code updates, mandating that structures be able to withstand higher winds. Insurance companies charge less to insure properties that meet the latest code requirements. Homes and condos that are not located directly on or adjacent to the waterfront or in designated "flood zones," cost less to insure.

Avoiding Estate Taxes and Probate
Foreign nationals can reduce their exposure to U.S. estate taxes. For example, one of the best ways for Canadians is by placing a non-recourse mortgage against the property. A non-recourse mortgage gives the mortgage-holder recourse only against the property, itself, not against any other assets of the borrower.

The U.S. probate process of transferring property to beneficiaries can be lengthy and costly. Putting the deed to your Florida home in the name of a Cross Border Revocable Living Trust (CBRLT) rather than in an individual's name may offer several advantages. Properties held by a CBRLT are exempt from Florida probate and thus have no filing requirements for U.S. or Canadian tax authorities, for example.

There may be other benefits under U.S. or your own country's rules to avoid estate and probate costs. Check with a Florida-based attorney to see what benefits may be available to you. A competent Florida Real Estate professional can help you identify a competent attorney who deals with cross-border property investments.

In summary, as a foreign national considering buying a home or condominium in Florida there are things you need to understand. Nonetheless, there has never been a better time to buy that seasonal or second home you've been dreaming about, especially here in the Tampa Bay and Sarasota areas.

There are Florida Realtors ready and able to assit you in identifying and buying good real estate properties for either you own enjoyment or as investments. For example, Connie Belmont, a Sarasota FL real estate specialist and Andree Huffine, a Sarasota real estate expert stand ready to assist you.

The Seller Can Help You Buy Your New Home

2009-04-08T08:53:00.004-04:00

If you and your family are ready now to buy your first home, but you're not sure you have enough cash stashed away, there are ways in which a home seller can assist you in buying his home. A competent Realtor can review all of your options but here are a few examples.

FHA MORTGAGE WITH SELLER FINANCED CLOSING COSTS
An FHA mortgage requires as little as 3.5% of the purchase price as a down payment. These mortgages have been available for years. Your Realtor, working with the home seller and an FHA-approved mortgage provider, can structure a mortgage loan so that the seller pays all or nearly all of your closing costs. The seller cannot assist you with the 3.5% down payment, but can pay just about everything else at your closing. In the current market environment, many home sellers are willing to participate in this type of arrangement to get their home sold.

BUY DOWNS – There are many variations of "Buy Downs," Some are permanent, where the interest rate is reduced over the full life of the loan. Others are temporary, allowing you to reduce the interest rate, and therefore your monthly payment, for the first 1 - 3 years. The most popular is what's known as a "3-2-1 Buy Down." Here's how it works. For the first year your rate is 3% below the market interest rate; the second year 2% below, and for the third year the interest rate you pay is 1% below the agreed-upon interest rate. This allows you to grow into your loan payments over 3 years. If you expect your family income to grow over that period by enough to cover the eventual cost, this may be an attractive option for you. "Buying down" your first 3 years of loan payments in this manner will cost the seller about 4.5% of the loan amount. Here is an example on the purchase of a home with a $225,000 mortgage with a fixed rate of 6.5%. The full monthly rate on this mortgage would be $1,422.15/month. Using a 3-2-1- buy down, the first year's payments would be $1,010.35, the second year's is $1,140.04, the third year's - $1,277.53, and then for the remaining 27 years, $1,422.15. The "buy down" of the first 3 years payments saved you, the buyer, over $10,000 in mortgage payments in addition to making your payments more affordable for those first 3 years.

SELLER FINANCING – Less frequently, but occasionally, there are sellers who own their home outright (no mortgage on the property) who will agree to assist you by holding your mortgage. In this case, you do not have to qualify through the normal bank financing route. In effect the seller, instead of a bank or other mortgage company, becomes your mortgage provider. Such a mortgage can be written with essentially any terms and conditions that you and the seller agree upon ranging from financing 100% of the purchase price to requiring a minimal or larger down payment, with or without a "balloon payment" at some point in the future, and for a term of 10, 15, 25 or 30 years.

Such private lenders frequently charge a higher interest rate and may want to use this approach to get the highest possible price for their property so you need to deal with a competent Realtor who can negotiate your way through this option for you. But, if cash on hand is the problem you are dealing, this approach may be an option.

The point of this discussion is this. If you have a decent credit rating (FICO score) and you're ready to buy your first home, don't be scared off because you don't think you have enough saved up yet. The price of homes and the interest rates available are as low right now as they have been in a long time. Meet and discuss your options with a competent Realtor like those listed in this directory of Florida Real Estate professionals. You may be closer to your dream of home ownership than you have dared to hope.

Planning to Sell. - Focus on Your Kitchen

2009-03-29T17:00:00.007-04:00

When it's time to put your home on the market, many real estate experts recommend that you focus on the kitchen first. For many potential buyers, especially the wives, the kitchen is the most important room in the home. The condition and appearance of the kitchen has the power to make or break an offer.

So, if you want your home to sell quickly at a good price, do everything you can to enhance it before you start showing the home to buyers. Remember however as you appraoch this task that the money you spend is a cost of selling. Don't do a complete remodelling unless the kitchen really needs it. A good Realtor, like Judie Berger, Sarasota real estate expert, or Brian Ward who focuses on Bradenton FL real estate can give you advice on the extent of remodeling that you should invest in.

Start by creating space. You want you kitchen to look large, light and roomy. Clear the counters of all clutter. Take everything you can out of drawers and shelves and move it into storage. Remove all those magnets from the refrigerator and if the refrig looks scratched, give it a fresh coat of porcelain paint. What you want them to see is a warm, open and inviting space, not your old pots, pans and toaster.

Consider fresh paint. Paint is the most profitable improvement. A fresh coat of light, neutral colored paint on your kitchen walls will make them look spotless and new. Exactly the look you want.

Pay particular attention to the sink. If your faucet looks old and dated, replace it with a new one. It will go a long way towards improving the look of the whole kitchen, for very little money.

If your counter tops look old and tired, you should consider new ones. Today you can buy corian or even granite countertops at reasonable prices. Talk to your local Home Depot or Lowe's hardware satore. Remember to stick with neutral colors, nothing too flashy.

Check the stove and oven. The oven should be spotless. If the stove is a glass-top mmodel, scrub it until there is no residue at all on it. A sparkling range looks great. A dirty one laeves the prospect wondering if the rest of the house is any better maintained. Don't let them even "go there".

Freshen up the cabinets. Replacing cabinets is expensive and seldom makes a good investment. But you can paint them, or put new, modern looking pulls on them for very little money. A fresh rub-down with a good cleaner-polish will give them a fresh look.

Check the windows. You'd be amazed how many people forget to wash the window over the sink or the sliding glass doors next to the dining area. if the trim looks dull, a fresh coat of paint there will also add sizzle.

Finally, a trick that works amazingly well. Just before prospective buyers come, bake a fresh batch of cookies in your oven. And, yes, leave the cookies out for them to sample.

In short, buyers will quickly notice any shortcomings in your kitchen, so do everything you can to freshen it up and give it a modern, open, airy and spacious and "inviting" look.

Come to Bradenton Florida - Homes are Selling Again

2009-03-14T14:14:00.007-04:00

While home sales volumes and prices in many other parts of the U.S. have fallen for more than 6 months in a row, the Bradenton - Sarasota Florida real estate market is the fourth highest selling market in all of Florida.

Home sales for January, 2009 rose by 4% over the same month in 2008 largely because of a reduction in the median price of homes in this market. The median price in Bradenton, for example, has fallen to $144,800 from $246,300 just a year ago. This is the lowest it has been since November, 2001.

The decrease in home prices has meant that home ownership is once again affordable for the average family. So, more families, young couples with children as well as single professionals and senior citizens, are looking at homes in the Bradenton Florida area. There are currently about 2,650 existing homes for sale and another 1,800 homes working their way through foreclosure in Bradenton at this point so there are plenty of exisitng homes to consider.

When people started looking at homes here, they also learned something else very appealing. Mortgage interest rates are at an all-time low. QuickenLoans.com, for example, is currently quoting a 30-year fixed rate mortgage at 4.75% (APR 4.967%) and a 15-year fixed rate mortgage at 4.25% (APR 4.622%).

For those with more limited down payment funds, an FHA Express 30-year fixed rate mortgage can be had for 5.00% (APR 5.185%). With an FHA Express loan, your down payment can be as low as 3.5% of the price of the home and first-time buyers, defined as anyone who has not owned a home in the past 3 years, are eligible for an income tax credit of 10% of the purchase price of the home, up to a $8,000 credit.

If you are a young family that has been wishing homes in Bradenton Florida were more affordable so you could bring the pleasures and benefits of home ownership to your family, it's time to start looking.

If you are a senior looking for a warmer clime in which to retire, or maybe just a seasonal golf course or waterfront home or condo to escape the harsh northern winters, Bradenton Florida may be the right place and this may be the right time to make your move to the Florida SunCoast.

If you would like more information on the Bradenton Florida area, you may want to visit Rich Stover's Sarasota and Bradenton real estate website or Bob Henley's Sarasota real estate website. Both sites provide information on the many golf course and waterfront communities in the Sarasota - Bradenton area, all of which offer an absolutely delightful Florida SunCoast lifestyle.

Are Home Mortgages Really Available Now

2009-03-08T21:12:00.006-04:00

The simple answer is "yes" but the mortgage you can get today is way different from the one you might have gotten away with as recently as last year. There are at least four mortgage sources you might want to consider if you are hoping to buy a home in the Sarasota area while prices are still low.

Before the big "mortgage meltdown," people were able to qualify for a mortgage without even having to prove their actual income, among other things. Today, you'll not only have to be able to document your famly income, but you'll also have to provide information on other assets and liabilities that you have. Mortgage lenders now also want to accurately measure your "debt-to-income ratio", that is, what percentage of you total and take-home pay will be consumed by this mortgage if it is approved. And, there are now few, if any, no-down payment or ridiculously-low down payment loans.

If you meet these qualifications, there is mortgage money available. Mortgage approvals are now based on the more reasonable bases on which mortgages were granted before all the foolishness began a few years ago and the mortgage business eventually crashed and burned when the housing bubble burst. Mortgages being provided today "have to make-sense" in terms of the borrower's ability to repay the loan over time. No longer can you and/or the mortgage provider bet on housing prices going up and up forever so regardless of how silly the situation was at mortgage origination, there would be endless increases in the value of the home
to "bail both the buyer and the mortgage company out the ridiculous mortgage granted." Nonetheless, there are mortgages available today to those who can qualify for them.

FHA-insured mortgages

Federal Housing Administration (FHA) -insured mortgages have been available for decades, focused predominantly on low-to moderate-income families who may not meet
requirements for a conventional loan where up to a 20% down payment is required. FHA-insured mortgages can require as little as 3% down payment with no pre-payment penalty. Credit scores and debt-to-income ratios have been relaxed somewhat to allow more families to buy one of the many homes on the market right now.

Of course, there is always, "good news" and "not so good news" in situations like this. First the "not so good news." With the lower down-payment on an FHA mortgage comes an upfront "mortgage insurance fee" that must be paid at closing plus a monthly mortgage insurance premium (MIP) that essentially adds a half-percentage point to your interest rate.

But the "good news" is that your Realtor, working with the seller and mortgage provider, can structure your loan so that the home seller pays nealt all of your closing costs, other than the down payment, for you. In the current market environment, many home sellers are willing to participate in this type of arrangement to get their home sold.

FHA-insured mortgages with the lowest interest rates will go only to buyers with a debt-to-income ratio of less 33% or less where your "debt" is the total monthly cost of the home, including principal, interest, property taxes and insurance (PITI) plus any other monthly debt you owe like auto payments, credit card debt, student loans, etc.

Under the stimulus package signed by President Barack Obama this month, more American families will now be eligible to purchase or refinance their homes using affordable FHA-insured mortgages. This act allows FHA to increase through year-end, 2009, its maximum loan limits for FHA, Freddie Mac, and Fannie Mae loans. These
limits are equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA, and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750.

Credit Union Loans
While they tend to issue mortgages only to their own members, the credit union you may participate in at work or in your community may also be a source of an attractive mortgage. Most credit unions avoided the mortgage melt-down because they stuck to solidly-based mortgage underwriting principles. As not-for-profit firms, credit unions had no incentive to get involved in the "make a quick buck on closing fees and sell it off the same day" sub-prime mortgage schemes and scams.

Credit union fixed and adjustable rate mortgages (ARMs) are often written at lower interest rates than are available at conventional banks.

"Hope for Homeowners" Mortgages
The "Housing and Economic Recovery Act of 2008" created "Hope For Homeowners" (H4H) program which allows troubled mortgage holders to avoid facing foreclosure by refinancing their existing mortgage into a more affordable, FHA Secure mortgage, provided the federal government participates in any increase in the value of the home over time and the holder of the existing mortgage agrees to go along with the re-financing. This program increases the allowable loan to value ratio (LTV) to 96.5% for some H4H loans and allows lenders to extend mortgage terms from 30 to 40 years further reducing the monthly payment. More information on H4H loan programs is available on the HUD Hope for Homeowners website.

The American Recovery and Reinvestment Act of 2009 (ARRA)
The ARRA offers assistance to first-time home buyers by providing an $8,000 tax credit for the purchase of a principal residence between January 1, 2009 and December 1, 2009. The tax credit is claimed on your tax return reducing the purchaser's income tax. Two bonus features of this program are:

The tax credit does not have to be paid back

If any credit amount is unused, that amount will be refunded as a check to the purchaser.

Local and State Programs in Your Own Area
If you are a first-time homebuyer or a low-to-moderate income family, you should investigate whether ther are local or state housing assistance programs that can be helpful. Some programs offer very low-interest loans or even grants to families these agencies want to attract into their communities. These programs are also sometimes aimed at municipal employees, police officers, firefighters and other first-responders the local area has difficulty recruiting.

So the answer is definitely "yes, mortgages are definitely available" and you should contact your Realtor today to see if you can qualify for one of these programs.

Is It Time for You to Think About Buying a Florida Home

2009-02-28T18:39:00.002-05:00

In spite of the national economic downturn, home sales in the Sarasota and Bradenton area of Florida rose again in January, 2009 bucking the national trend.

Bill Geller, President of the Sarasota Association of Realtors, is reported as having said that "even during downturns in the economy, opportunities exist for savvy buyers." The Sarasota - Bradenton real estate maket includes just about every type and size of residence and neighborhood one could want. The area, including our island keys offers waterfront homes and condos, golf course communities of wonderful new and existing homes as well as exciting places to live downtown in the heart of all the social, arts and cultural action.

There is no denying that over the past few years, home prices in our area have risen to a point where homes were becoming unaffordable to many people who eiher already lived here or who would like to move to our sunny Sarasota Florida area. But as of January, 2009, the median home price for a single family home in the Sarasota market fell below $150,000, meaning homes in our area are once again becoming affordable for middle-class working families.

The recently enacted American Recovery and Reinvestment Act (known as the "stimulus package") includes a $75 billion Housing Support and Foreclosure Prevention program and also provides a tax credit of $8,000 for eligible first-time home buyers. These two programs, combined with historically low mortgage interest rates, are getting people interested in buying homes again and that is good news for everyone.

Once people start buying homes, they will need furniture, new carpeting, appliances, lawn mowers, and all sorts of help moving into and decorating their new homes. All of these will provide jobs and further strengthen the economic recovery thqt is just now beginning to take hold in this area.

Sarasota is perfectly situated with a good jobs market, beautiful weather, a plethora of arts and cultural attractions as well as over 80 golf courses, and now once again, affordable homes and condos.

Isn't it time you got serious about buying your dream home here in Sunny Sarasota Florida. Give me a call at 941-228-2321 or e-mail me at brianward@remax.net. You may also want to visit my Sarasota real estate website for even more information on the delightful Sarasota lifestyle.

Real People Are Starting to Buy Homes in Florida

2009-02-20T15:58:00.004-05:00

A recent newspaper article stated something that applies pretty generally to all of Southwest and Central Florida. At last, "real people" are starting to buy homes again. Realtors from Marco Island to Tampa Bay are beginning to see more prospective buyers who are looking for "homes of their own." Previously, Realtors have been seeing mostly bottom-feeders looking to "steal a home" in a short sale or foreclosure and speculators looking to make money by "flipping" a home as an investment option.

Why is this happening? In large part, this trend is occurring because the prices of homes and condos have come down far enough so that the average family can actually afford to buy one. Previously, in many Florida communities, home prices had become so high that the average family could not afford to buy one based upon their family income and other non-housing expenses to which they were already committed.

In Lee and Collier Counties, for example, existing home sales increased by 155% in January. Across the U.S., in the 4th quarter of 2008 about 41% of all real estate transactions were either foreclosures or short sales. This dramatically reduced the number of properties on the market and dragged prices down. In Sarasota County, the number of existing home sales topped 500 for the third month in a row after having fallen below that level for several months in 2008.

Across the U.S., new home construction fell again in January, 2009. New-construction home sales are essentially limited to distress sales of homebuilders’ existing model home inventories plus a few custom homes. While this may seem like negative news, the fact is that the dramatic reduction in the number of new homes being built helps the real estate industry work off the high volume of homes on the market.

Using Lee and Collier County Florida as examples, the current inventory of existing homes on the market is now down to 4.2 months, a big drop from the 21.5 months supply on the market a year ago. The number of homes for sale in Sarasota dropped to just over 4,400 in January, 2009 from numbers far higher than that last year.

So, what should you do about this if you are considering buying a home ? Here are the steps you need to take to go from "dreaming" to "owning" a home in Southwest or Sarasota Florida:

Hire a real estate professional.

An important first step is selecting a professional to help you find your dream home. Have a REALTOR® explain the advantages of using a realtor acting as your buyer's agent.
Shop mortgage rates and terms and get pre-qualified (or better, pre-approved) for a loan.

A difference of even half a percentage point can mean a considerable savings over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8% vs. 7.5% is about $35 per month. Over 30 years, that's $12,600.

Being pre-qualified determines how much you can afford, whereas pre-approval further indicates to the seller that you really can afford to buy the property on which you are making an offer.
Outline what you want vs what you'd like.

Create a realistic idea of the property you want... What features are important to you? Make 2 lists: one of "must-have" items and one of the features you'd enjoy but aren't absolutely essential.
Tour Homes that meet your needs and affordability.

Ask your Realtor to show you only homes that meet your needs and desires within your affordability. Make notes on what you liked and didn't like on each. Review your notes frequently to eliminate homes that no longer best fit your goals.
Know which features that will help or hurt resale.

In some areas, a swimming pool can actually detract from a home's value and make it harder to sell. In areas with two-car attached garages, a single-car or detached garage may affect the future value of the home. Your Realtor can point out features that hurt or help resale value.
Make an offer on the one home that best meets your needs and desires.

Once you've pinpointed your dream house, it's time to make an offer. Rely upon your Buyer's Agent Realtor's expertise to bring order and calm to the process.
Arrange for a home inspection.

After your offer is accepted, set up a home inspection. It's common to find problems, many of which are easily resolved. Your realtor can help find a reputable inspector.
Conduct a walk-through inspection just before closing.

Demand a final "walk through" before finalizing the home buying paperwork to be certain that everything that was supposed to be included in the sale is still in the home and that all committed repairs have been made.
Close the Sale.

Before closing, your Realtor will help you complete a "closing checklist" and avoid last-minute snags.
Prepare to enjoy life in your new home.

Before you move in your furniture, take care of some basics: turning on electricity, water and gas, cleaning or replacing the carpet, and notifying friends and the local post office of your new address.

Sarasota - Florida's premier "Golf Town"

2009-01-24T13:37:00.005-05:00

If golf is your passion, Sarasota Florida may be the premier "golf town" you must visit before you decide where to buy a home. There are over 80 golf courses in metropolitan Sarasota Bradenton including several in nearby Osprey and Venice as well as on Longboat Key. Many of these courses are surrounded by golf course communities offering you the luxury and convenience of walking or taking a golf cart to the first tee or the club house.

Golf in Sarasota Florida traces its roots to the late 1880s, when Sir John Hamilton Gillespie traveled from Scotland to the hinterlands of "Sara Sota" with his golf clubs and a vision of what this land of natural beauty could become.

Our golf courses are open 12 months a year. Whether you enjoy the recreational and social amenities of an upscale country club lifestyle or you're just looking for a new "home course" there is a golf course or golf course community here that will fit you "to a tee." There are private, semi-private, and publc courses that will surely fit your needs and desires, whatever your level of play.

If you would like to know more about Sarasota and Mantee County golf course communities, visit the Sarasota Golf Course Communities section of Andree Huffine's Sarasota real estate website. If your needs are more immediate, call Andree directly at (941) 308-6752. She would be delighted to answer your questions and arrange to show you any or all of the many desirable golf communities in the "Sunny Paradise" that is Sarasota Florida.

Introducing McClellan Park in Sarasota Florida

2008-12-29T16:15:00.007-05:00

In Sarasota Florida, McClellan Park is an exclusive “West of the Trail” location, a neighborhood of mostly older homes, set in a tranquil area of narrow, winding streets. There's a sense of history here; a quiet neighborhood holding onto its inherent charms.

McClellan Park manages to preserve its historic charm while blending into the magnificent new Southside shopping and restaurant district that lies to its immediate east on Sarasota's Tamiami Trail. Set into a tranquil grid of narrow, winding streets, this lushly canopied neighborhood is definitely an "Oasis,"
an impressive blend of vintage “Old Florida” architectured residences. Many are smaller cottage-style homes. Others have undergone faithful renovations that still exude the character for which this splendid neighborhood is so well-known. Still others are completely new homes resulting from a "tear-down" of the previous properties replaced by gorgeous new executive-sized homes. Yet, even these have maintained the architectural integrity of the neighborhood.

McClellan Park, one of the oldest neighborhoods in Sarasota, is located in the original settlement that eventually became the city of Sarasota. There is a lot of history here but it is also an extremely convenient location. With many shopping venues just down the street, and it's proximity to downtown Sarasota, McClellan Park is also close to the gorgeous powdery-soft white beaches of Siesta Key.

Homes in McClellan Park are atractive to all ages and incomes from young couples to retirees.

If you'd like to know more about McClellan Park and homes for sale in this delghtful Sarasota neighborhood, you may want to contact Rich Stover, a resident of this neighborhood as well as an homes and competent Sarasota Realtor. He would be delighted to show you McClellan Park and other
attractive downtown Sarasota neighborhoods and real estate offerings.

Intro to Heritage Harbour, Bradenton FL golf course community

2008-12-13T14:52:00.005-05:00

Heritage Harbour is a new master planned golf course community in Bradenton, Florida bordering the Manatee River east of I-75. Heritage Harbour is situated on more than 2,500 acres of riverfront property including 200 acres of island in the Manatee River.

Residents of Heritage Harbour enjoy numerous amenities offered by this popular new community inclucing golf, convenient shopping and the many outdoor activities. The community is comprised of manicured natural preserves and lush landscaping, beautiful boulevards and the grand Signature Lighthouse adjacent to Central Park.
The centerpiece of Central Park is 70-acre Beacon Lake surrounded by a trail for walking, jogging, skating,and biking. In this wonderful park, you and your family can enjoy swimming, tennis, basketball and volleyball, as well as fishing, canoeing and just relaxing in a gazebo.

The Stoneybrook golf course at Heritage Harbour is a test of championship caliber golf. The 18-hole, par-72 course plays through a landscape highlighted by mature woods, wetland preserves, ponds, and lakes.

If you would like to know more about the Heritage Harbour golf course community, there are several competent Sarasota Bradenton area realtors who would be delighted to show you around this wonderful new golf course community in Bradenton, the city on the northern border of Sarasota, Florida.

South Florida Home Sales Surging At Last

2008-12-08T12:41:00.003-05:00

Buying a South Florida home is suddenly back in vogue again as prices continue to fall to levels not seen in long time. Homebuyers are jumping back into the South Florida home market and creating a surge of home sales not seen for several years.

First-time buyers are delighted at finally being able to afford a home of their own. Retirees with cash are also getting into the game, pulling their money out of the stock market and investing in South Florida real estate at prices they thought they might never see again. With mortgage rates at historic lows, even traditional real estate investors are returning to the market. No, they re not "flipping properties" this time. These investors plan to either live the home themselves or rent them until the Florida real estate market recovers from its disasterous recent past.

Typical resale homes in Broward and Palm Beach counties now sell for an average of less than $295,000, prices lower than at any time since early 2004 according to the Florida Association of Realtors (FAR).

Pre-foreclosure sales go for even less as Florida job losses and falling home and condo prices sent another 90,000 homes into foreclosure in the past quarter. Resale condominiums are now selling for 40% less than just two years ago. Properties in the $100,000 to $250,000 price range, however, are the most popular purchases.

On the dowside, however,with the U.S. economy as a whole slumping badly and the huge supply of existing and pre-foreclosure short sale and bank-owned homes and condos already on the, prices may stay low and not begin to recover until well into 2009 or even later.

If you have been thinking about buying South Florida real estate, this is a great time to get serious about it. In the Sarasota Bradenton market, for example, you may want to contact Mary Bernas, Longboat Key Realtor, Beverly Rabalais, Sarasota Realtor or Bob Henley, who specializes in the Venice FL real estate market. To find competent realtors for other parts of Florida, visit the Best Realtors in Florida website.

What Effect will the Obama Election Have on Florida Real Estate

2008-11-22T12:14:00.008-05:00

The election of Senator Barack Obama as President of the United States, along with substantial gains by Democrats in both the U.S. House of Representatives and Senate leads to the question, "How will the policies of the new Obama administration affect the real estate housing industry, especially here in Florida?"

National Association of Realtors (NAR) President Charles McMillan has said, “Realtors® are excited by this historic election and are ready to work with our new president and the new Congress on issues that are at the heart of the American dream of home ownership.”

Availability of affordable mortgage financing and small business health insurance coverage are at the top of NAR's and local realtor's list of priorities. Thankfully, those two issues are also priorities of both major political parties.

REFORM OF FANNIE MAE & FREDDIE MAC
It is expected that the Obama Administration and the new Congress will focus first on regulatory reform of the country’s financial services industry. Lawmakers will be looking at what went wrong and what, if anything, needs to be changed or regulated in new ways to ensure proper hadnling and accounting for mortgage and other asset-backed securities. This review will focus on potential changes to the two manjor secondary mortgage market companies, Fannie Mae and Freddie Mac.

The nomination by President-elect Obama of Tim Geithner, formerly head of the New York Federal Reserve bank, as Secretary of the Treasury appears to be a step in the right direction. Mr. Geithner is a talented and experienced expert on the U.S. and global financial world and he worked for many years to stabilize the financial markets of the world including the financial crisis in Japan some years ago.

ANOTHER STIMULUS PACKAGE
The Obama administration will also push Congress to enact another economic stimulus package. Hopefully, this new stimulus package will do more to stimulate jobs and therefore make home ownership more affordable than the previous stimulus package. NAR and its sister organization in Florida, the Florida Association of Realtors (FAR) will also continue to press Congress to make the conforming high-cost loan limit of $729,750 permanent and to eliminate the repayment requirement in the currrent first-time homebuyer tax credit, both of which would stimulate the housing market.

FORECLOSURE ASSISTANCE & AFFORDABLE MORTGAGE FINANCING
NAR also expects the Obama administration and Congress to assure that Wall Street banks that are being "rescued" use some of that $700 billion to slow down the rate of home foreclosures and make home mortgage financing more available at reasonable rates. Many Florida communities, and particularly Sarasota nd Fort Myers, are witnessing painful downward pricing pressure on homes for sale inventories due to the huge overhang of homes and condominiums in foreclosure.

HEALTH INSURANCE REFORM
Looking a bit further ahead, Congress, with leadership from the new President, is expected to also take on comprehensive health insurance reform, an issue that impacts real estate professions as well as all small businesses. Making small business health insurance more affordable would be a great benefit to Realtors as well as to the millions of other small businesses in the U.S.

While in the short-term, everything is focused on turning the U.S. and global economies around, looking forward to the new Obama administration, there seem to be as many opportunities as challenges.

Because many of the issues facing the real estate industry are supported by both the Democratic and Repulican parties, it seems as though we have a good chance for improvement in the real estate market. And, it is certainly true that the Florida real estate industry can use all the help it can get and the sooner the better.

Efest Eco-Living Festival Coming November 15th

2008-11-11T17:42:00.004-05:00

EFest is a major green living music and arts festival that unites hundreds of organizations and thousands of individuals that care about our environment. It’s a relatively small but growing, initiative say it's supporters in Lakewood Ranch and the surrounding area. But, they say, "the more people know about "green living," the better off we’re going to be in the long run."

The 4th annual EFest, to be held at the Sarasota Polo Club grounds November 15th and 16th is expected to attract over 25,000 people. EFest will feature more than 175 exhibitors, over a dozen bands and dance groups, dozens of food and beverage vendors and an eco-fashion show. there will also be a panel discussion with experts and community leaders,

Designed to bring awareness about preserving the environment, EFest provide visitors with access to community resources and teaches them about green alternatives to help them live more eco-conscious lives, according to Randy Moore, the executive director for EFest Florida, a non-profit organization.

One lucky visitor to EFest will win a Vespa scooter this year. Efest will be raffling a number of other great items including two bikes from Village Bikes located in Sarasota and Lakewood Ranch, two kayaks from Economy Tackle, a solar water heater from EcoTechnologies, an air purification system from EZ Breathe Ventilation Systems, golf for four at the Lakewood Ranch Country Club, multiple eco-tours in Florida, home delivery of organic groceries, and more.

A big problem in American society is our tendency to buy something, use it for a whle and then throw it away, filling a landfill somewhere. One of the ways EFest promotes environmental awareness is through a "Trash to Treasures Eco-Art Contest," which features art made of recycled, discarded, and reused items.

EFest will also include an area called the Children’s Eco-Village, which includes about 40 exhibitors and will show children how to grow a sustainable garden, according to Heidi Allwood, owner of Little Bookworms and Lakewood Ranch Book Sellers, a coordinator of the Children’s Eco-Village.

The EFest festival to be held this year in Lakewood Ranch is just one more example of the many and varied activities that go on regularly in the Bradenton, Lakewood Ranch and Manatee County area of Southwest Florida that make life here so enjoyable.

For more information about the Bradenton Florida lifestyle, you may want to visit one of the following sources of additional information at Rich Stover's Sarasota Bradenton Real Estate website.

New Sarasota Area Real Estate Website

2008-11-05T11:26:00.003-05:00

Please take a few minutes now to look over the newest Sarasota - Bradenton Florida area real estate website. Brian Ward is an experienced buyer agent who has earned the coveted "Accredited Buyer Representtive" (ABR) designation.

Brian serves the entire Bradenton / Manatee County and the Sarasota - Venice Sarasota County area. We invite you to take a tour of this comprehensive, new Sarasota and Bradenton Real Estate website. You can learn more about Brian and his qualifications on his Meet Brian Ward webpage.

More Federal Aid for Florida Foreclosures May Be Coming

2008-11-03T14:14:00.005-05:00

A number of U.S. government agencies are working together on a new plan that could help 3 million homeowners avoid foreclosures. These negotiations could still fail, but federal government agencies are contemplating using $50 billion of the recently-passed federal bailout plan to guarantee up to $500 billion of residential home mortgages. Florida, because of its enormous reliance on the real estate industry, could benefit greatly under this plan since the housing meltdown has had a major negative effect on the state's economy.

Under the plan, the government would agree to absorb half of the losses on home loans if the mortgage company agrees to lower the borrowers' monthly payments for at least 5 years. Details f how the plan would work are still being negotiated but this is the cetnral concept of the plan at this point.

In another recent development, more than $540 million in federal funds is on its way to Florida, earmarked to purchase foreclosed homes at a discount. “Florida has felt the sting of our nation’s housing market challenges, and these funds will provide a welcome boost to our state’s economy by helping Florida families stay in their homes,” said Gov. Charlie Crist.

Governor Crist credited Florida’s Congressional delegation with securing the support from the U.S. Department of Housing and Urban Development’s Community Development Block Grants under the Housing and Economic
Recovery Act of 2008 passed by Congress earlier this year. The funds will provide assistance to state and local governments to acquire and re-develop foreclosed properties that might otherwise be abandoned and blight their neighborhoods.

Florida had the nation's second-highest foreclosure rate in September, an ignominious record achieved by beating out depressed housing markets in California and Arizona, according to the firm RealtyTrac. Foreclosure filings last month afflicted 47,956 Florida properties, or one in every 178 homes. Only Nevada, with one in 82 properties facing foreclosure, is worse off.

In the Sarasota real estate market, there were 1,437 foreclosures in September, up 39% from the previous month according to data released last week by RealtyTrac Inc. But, Hillsborough County showed the biggest monthly increase in the state with 4,663 properties falling into foreclosure in Tampa Bay in the month. Pinellas County had 1,813 foreclosure cases, while Pasco and Hernando counties had 1,175 and 374 cases, respectively.

"Anything we can do to get foreclosure numbers down will quicken the stabilization of the market," said Ritch Workman, president of the 2100-member Florida Association of Mortgage Brokers.

The new federal government foreclosure-assistance program now being negotiated would be run by the Federal Deposit Insurance Corp (FDIC).

No one understands the process involved in short sales and foreclosure sales better than an experienced real estate professional. In Tampa Bay, for example, you may want to visit Cheryl Stimac's Tampa Florida real estate website or call her directly at 813-263-6806 for further information. Or, you may also want to visit Brian Ward's Sarasota FL Real Estate website or call him at 941-228-2321 for information in that real estate market.

Canadians Are Finding Florida Real Estate Values Attractive

2008-10-11T16:02:00.007-04:00

Florida offers warm temperaures, a refuge from the cold snow filled winters in Canada and, at this point, an attractive real estate market. Many Canadians looking for a warmer alternative are taking advantage of a weak US Dollar to purchase homes in many differetn parts of Florida.

With the supply of high-quality, reasonably priced Florida homes on the rise, house-hunting Canadians have their pick of everything from high-rise condos and townhomes to single-family homes in every conceivable type of neighborhood, golf course communities, waterfront homes and condos on the beach and on a marina as well as more traditional neighborhoods.

The National Association of Realtors (NAR) says that Canadians represented about 11% of all international home buyers who purchased homes in 2007 in the United States. In Florida, Canadians account for 9% of all 2007 home and condo buyers. When the results are in for 2008, this percentage is undoubtedly even higher.

American lenders will give loans to Canadian real estate buyers, but because of the presumed added risk involved, they often demand a down payment of up to 50% of the purchase price. Interestingly though, about 47% of Canadians pay cash for their Florida homes while the other 53% take out mortgages.

Purchasing a piece of the paradise that is Florida has never been for affordable for Canadians whether they are looking for a getaway from the harsh Canadian winter weather or as an eventual permanent retirement home.

For more information on waterfront, golf course, and downtown living spaces in the Sarasota Bradenton area, you may want to visit Rich Stover's Sarasota Florida real estate website. Those more interested in homes and condos in the Osprey or Venice Florida area may wish to visit the Sarasota & Venice FL real estate website of Bob Henley. And those more interested in Tampa Bay, should check out Cheryl Stimac's informative Tampa Bay Florida real estate website. You will be glad you did.

Test Revised for New Florida Immigrants

2008-10-02T13:44:00.007-04:00

It will come as no surprise to most that the state of Florida welcomes a large number of immigrants each year and for that reason the state was involved in a pilot program of a new immigration test.

In ddition to Miami FL, the pilot program cities included Albany, NY; Boston; Charleston, SC; Denver, CO; El Paso and San Antonio, TX; Kansas City, MO; Tucson, AZ; and Yakima, WA.

According to a recent article in the Palm Beach Post, the decision to revise the immigration test was made last year by the U.S. Citizenship and Immigration Services but the new test was not implemented until now to give immigrant advocate groups, English as a Second Language schools and other adult education facilities time to develop new training materials and curriculum to prepare immigrants for the test.

Many of the previous test questions have been replaced with questions designed to be more profound and to test the prospective citizen's knowledge of the basic civic concepts essential to being an American. The emphasis on rote memorization been been removed from the test.

The pilot program began with 142 questions. Those that showed higher than normal failure rates or which did not include basic historical and civic concepts were either changed to clarify the question or dropped bringing the total number of questions down to 100.

Several questions ask for more meaningful answers than the current test. For example, the old test asked "what country did we fight during the Revolutionary War." The new test changes the question to, "why did the colonists fight the British." Other questions were made simpler. In the previous test immigrants were required to name both Senators from their state. Now they will only need to be able to name one senator.

The way the process works is as follows: immigrants study the full 100 questions in preparing for the test. But, when they actually take their test, they are required to orally answer only ten questions and get at least six of them correct. In addition, they now have to read a sentence in English and write a sentence given to them.

Southwest Florida is Getting Back on Its Feet

2008-09-19T11:01:00.005-04:00

The Southwest Florida real estate market continued to show increasing strength in the past month. There wer solid and continuing signs of sales growth in Naples, Bonita Springs and Fort Myers mas well as the stirrings of life in the Sarasota, Bradenton and Tampa Bay areas.

While dramatically reduced prices are partially responsible for the home sales increases, other factors are also having important impacts. International buyers are finding many properties at what they consider bargain prices especially given the weak American dollar. Lower interest rates on home mortgages are helping first-time buyers and those buying second homes so buyers froma ll over are grabbing their piece of the Sunny Southwest Florida lifestyle.

If you, too, are looking for a home or condominium as either a seasonal getaway or for full-time living in Florida. this may be the right time to make your move to the Sunshine State. You may want to contact one of the these experienced Realtors, Andree Huffine, your Sarasota Realtor, Judie Berger, a Siesta Key real estate specialist, or Cheryl Stimac, an experienced Tampa Bay real estate expert.

South Florida Home Sales May Be Nearing A Bottom

2008-08-27T15:16:00.007-04:00

According to the South Florida Sun Sentinel, sales of existing homes increased in Palm Beach County last month. Driven by deep home price reductions, propsective home buyers bought 652 houses in July, up 8% from a year ago, the Florida Association of Realtors (FAR) says. The median price of $291,300 decreased 22% from $372,200 a year ago.

South Florida's housing slump seems likely to last into 2009 with the market not starting to rebound until double-digit price declines end and prices and sales volumes begin to increase. Many current transactions are foreclosures or other distressed-sales where homeowners or lenders have slashed the price. The Florida real estate market is simply flooded with low-ball offers.

During the first half of this year, 27% of Palm Beach County sellers, for example, sold their homes at a loss, up from 2% in 2007.

Buyer response to the federal government's housing stimulus package that includes a $7,500 tax credit for first-time buyers is helping. And some more sales are occurring because Florida voters approved legistlation that allows homeowners to take advantage of property-tax savings when they move from one home to another.

The million-dollar question is, "where is the bottom of this real estate downturn?" On the other hand, prospective buyers need to recognize that it doesn't make sense to wait forever for prices to fall further when mortgage rates are expected to rise in coming months. What a buyer may gain in price, he might lose in the financing of the home. The only person really in control here is the cash buyer.

In the state of Florida, home sales in July increased slightly from a year ago, while the median price fell 19% to $193,600 from last year. Nationally, home sales were 13.2% lower than a year ago. The median price for a home sold in July dropped to $212,000, down 7.1%.

"People are now responding to lower prices," said Lawrence Yun, chief economist for the National Association of Realtors (NAR). But he said that there is still too much uncertainty about the housing market's future to mark a definite bottom yet.

Home Inspections, Not Just for Home Buyers

2008-08-23T13:53:00.003-04:00

If you buy a home here in Florida without a professional inspection, you're assuming an unnecessary risk. But sellers of Florida homes and condos can also benefit by having a professional home inspection before the home is put on the market.

If you're about to sell your home, your first reaction might be "Why? I don't want an inspector to uncover hidden problems that I'll have to pay to repair." Or, "Then, I'll have to disclose the problem and reduce my asking price to compensate the buyer for the needed repair."

Well, actually, there are several good reasons why, as a home seller, you will be well served by a professionally-conducted home inspection before you put the property on the market. Why?

Your Listing Agent Realtor® can and most likely will advise you of any visible or cosmetic improvements that will help your home sell more quickly or at a higher price -- a fresh coat of paint, more neutral colors, removing excess furniture to make rooms seem bigger, etc. But your Realtor® cannot see less obvious problems like small roof leaks or electrical or code violation problems that will be picked up by a professional home inspector.

Think about it. Any good Realtor®, acting as a Buyer's Agent, will strongly recommend that his buyers demand a professional inspection as a contingency in any offer they make for your home. It's not as though you are going to get through this home sale without an inspection anyway so why not get it behind you upfront.

There are real benefits to you if a professional inspector seconds your opinion that your home is in good condition structurally and is in full compliance with local codes, you have an great marketing tool that will help your home sell more quickly at the highest possible price.

Your pre-sale inspection report shows the propsective buyer that you're so confident in the integrity of your home that you paid to have it inspected upfront and either it passed or you made the necessary repairs on your own. Your credibility as an honest home seller is immediately apparent.

A clean pre-inspection report by a reputable professional also adds validity to your asking price. It also gives your prospective buyers an extra measure of confidence about your home versus others they may be considering.

Having your Florida home for sale pre-inspected can not only prevent any issues from occurring at the "11th hour" just before closing, it can also be a great selling tool. Think of a pre-sale home inspection as "an inexpensive insurance policy" for a smooth home selling experience.

Tips for Florida First-Time Home Buyers

2008-08-18T15:45:00.013-04:00

As you start the grand adventure of buying your first home, you will find it a much easier and comfortable task if you are prepared for the task ahead of you. The following steps will assure that your home-hunting experience is as joyful and rewarding an experience as possible.

Get to know a Realtor you feel you can trust. A Professional Realtor, experienced in both new construction and resale homes, can act as your Buyers Agent and advise you on:

the merits of buying a new versus an existing home

various builder's strengths and weaknesses

how certain home upgrades affect future home value

the most economical way to finance your home

Your Buyers Agent will be happy to guide you through the many home buying steps from offer to closing without undue stress. Its true .... an experienced Realtor can and will save you time, money and grief.

Learn about the market before you shop for a home. Before you can purchase a home you need to feel comfortable about where you are buying and the price range you are dealing with. You can get an idea of the real estate market by researching properties for sale on the local MLS on or Realtor.com. But the best way to learn about the market is to enlist the assistance of a licensed Florida Realtor ®.

Know how much to offer. Knowing how much to offer is one of the most difficult parts of buying a home. Your Buyers Agent can provide you with a list of recently sold properties of comparable size, location and amenities so you can compare selling prices. Then you'll know whether this property is realistically priced.

If a property has been on the market a while, the owner may accept a below-market offer. But, if the property is very desirable, the seller may just reject your offer wasting everyone's time. Your Buyers Agent Realtor can give you good advice on the right price to offer.

Some parts of Florida are more in demand than others. Property prices in the most in-demand areas continued to go up until just recently. Although they may have come down a bit recently, properties in very desirable areas have not gone down by much.

Officially cancel your inactive credit cards. If you have an credit card you're not using with a $5,000 limit, even though you owe nothing on it, some mortgage lenders consider that a potential future debt. Too many inactive credit cards with significant credit limits could keep you from obtaining a mortgage loan. Don't just cut up your extra cards; officially cLL and cancel them.

If you'll need a mortgage, shop for a lender before you shop for a home. Get pre-qualified (and preferably pre-approved). Pre-approval is powerful leverage during price negotiation.

If you need a mortgage, don't assume your credit is spotless. Ask your preferred lender to pull your credit report. It may contain errors or old unpaid balances that need to be addressed before you formally apply for a loan.

Between pre-qualification and closing, consult your mortgage lender before any major purchases. Credit purchases affect your qualification for a mortgage, even after you've been approved; right up to the day of closing on your home. For example, if you're going to buy furniture for your new home on credit, wait until after closing to avoid possibly impairing your mortgage approval

Be careful from whom you take advice. Don't count on Uncle Bob, a
Realtor 20 years ago. Home builder's salesmen and Realtors representing the seller won't necessarily tell you all you need to know. Your Buyer's Agent, on the other hand, is required by law to tell you everything he or she knows that could affect the value of the home.

Seller's and Realtors representing sellers of resale homes don't always tell the whole truth about the condition of the property. After you've gotten a purchase contract agreed to, get a professional home inspection so the Seller, not you, pays to correct any problems.

Buy a home you can really afford. There are tax advantages to owning a home, but, there are also on-going expenses (maintenance costs, decorating, lawn care, trash pickup, etc.) that you may forget in the excitement. "Buy a bit less home, rather than a bit more home than you think you can afford," is good advice.

On a new construction home, decide which features you want and stick with it. Some new home sales people will try to sell you upgrades which add little, if any, value to your home when you evenutally sell it. Your Buyer's Agent Realtor can help you know which upgrades do and don't add resale value.

For more information on Florida Real Estate, visit our website Real Estate of Florida. It's packed with useful information.

Mortgage Interest Rates Drop for 2nd Week in a Row

2008-08-06T18:56:00.004-04:00

Interest rates on 30-year fixed mortgages fell for the second week in a row on increased speculation that the Federal Reserve would not raise interest rates before the end of the year.

Mortgage interest rates moved lower last week across the full spectrum of home mortgage types for the second week in a row.

30-year fixed-rate mortgages moved lower again this week averaging 6.26% plus an average 0.6 points in the week ending Thursday, down from 6.37% last week. Last year at this time, the 30-year loan averaged 6.73%.

15-year fixed rate mortgages this week averaged 5.78% plus an average 0.6 points, down from last week when it averaged 5.91%. A year ago at this time, the 15-year fixed rate mortgage averaged 6.38%.

This week, 5-year adjustable-rate mortgages (ARMs) averaged 5.80% with an average 0.6 points, down from last week's average of 5.82%. A year ago in July, 2007, the 5-year ARM averaged 6.35%.

One-year Treasury-indexed ARMs averaged 5.10% this week with an average 0.6 points, down from last week when it averaged 5.17%. At this time last year, the 1-year ARM averaged 5.72%.

Those who are ready to buy a home or second home in Florida might want to take advantage of this interest ratembreak which coincides with a very high inventory of unsold homes on the market. It's time to "make your move."

Discovery of a New Element - Governmentium

2008-07-26T15:25:00.006-04:00

Research has led to the discovery of the heaviest element yet known to science. The new element, Governmentium (Gv), has one neuron, 25 assistant neurons, 88 deputy neurons, and 198 assistant deputy neurons, giving it an atomic mass of 312.

These 312 particles are held together by forces called morons, which are surrounded by vast quantities of particles called peons. Since Governmentium has no electrons, it is inert; however, it can be detected, because it impedes every reaction with which it has contact. A minute amount of Governmentium can cause a reaction that would normally take less than a second to take from 4 days to 4 years to complete.

Governmentium has a normal half-life of 2-6 years; unfortunately it does not decay, but instead reorganizes when a portion of the assistant neurons and deputy neurons exchange places. Governmentium's mass actually increases over time, since each reorganization causes more morons to become neurons. This characteristic of moron promotion leads some to believe that Governmentium is formed by nature whenever the number of morons reach a critical mass.

When catalyzed with money, Governmentium becomes Administratium,(Ad) an element that radiates just as much energy as Governmentium since it has half as many peons but twice as many morons.

Our thanks to the writer of this funny bit.

U.S. Sugar to Sell Land to Florida for Everglades Restoration

2008-06-25T11:42:00.006-04:00

300 square miles of Florida land may be returned to its natural state over the next decade.

The largest producer of cane sugar in the United State is negotiating with the State of Florida to go out of business and for $1.7 billion, deed its 187,000 acres of land plus its refinery and other assets to the State of Florida as part of the state's plan to restore the Everglades according to a joint announcement by Gov. Charles Crist and U.S. Sugar CEO Robert Buker.

While negotiations are still on-going and subject to approval by both the State government and the board of privately-held U.S. Sugar, officials hope to hava a final agreement by September, 2008. As that tentative agreement now stands, U.S. Sugar would be allowed to farm the land for 6 more years and then shut down operations. At that point, 187,000 acres of land south of Lake Okeechobee, currently in production by U.S. Sugar, can be used to help restore the Everglades wetlands.

That land is the virtual heart of the ecosystem which supports the Everglades and can be used to restore a more natural flow to the wetlands that has been restricted and diverted for years by agricultural and other development.

Jeff Danter, The Nature Conservancy’s state director, was quoted as calling the potential deal “an unprecedented opportunity to completely rewrite the course of Everglades restoration.” Frank Jackalone, from the Sierra Club, applauded the move saying, "If they can restore the flows, it can correct what's happened over the past 60 years."

The restoration effort will be the largest of its kind in the world. Returning the land to its natural state, including rerouting water from many flood control projects, would help cleanse water flowing southbound from Lake Okeechobee into the Everglades naturally filtering out fertilizers and other pollutants.

The plan calls for the state of Florida and the Federal government to be 50-50 partners. To date, Florida has committed more than $2 billion, while the Federal government has spent only a few hundred million dollars. In 2007, Congress authorized $1.8 billion for Everglades projects, however the money has yet to be allocated.

U.S. Sugar, which curretnly employs 1,700 people all of whom will lose their jobs, has been under financial pressure from cheap imported sugar. The State of Florida will offer job-retraining to the displaced employees. Closing down U.S. Sugar opertions will not entirely end sugar production in the Everglades ecosysem. About 300,000 acres used by other sugar growers will remain in production.

Welcome to Sarasota Florida

2008-06-19T11:43:00.006-04:00

Once known only as a vacation and retirement area, today Sarasota Florida may now be the ultimate winter-get-away and golf town, with over 80 public and private golf courses in the metro Manatee and Sarasota County area and over 200 sunny days a year.. Sarasota weather is unsurpassed with an average year-round temperature of 71 degrees.

Sarasota received one of Money Magazine's "Best Small City" awards.

Sarasota Florida real estate offerings of homes and condos in downtown Sarasota, and in golf course or waterfront communities are among the most desirable in all of Florida and prices right now are lower than they have been in many years. Short sales and foreclosures are also available for those interested in that type of purchase.

For more information on waterfront, golf course, and downtown, urban living spaces, you may want to visit Rich Stover's Sarasota FL real estate website. Those more interested in the luxury homes and condos on Longboat Key may wish to visit the Longboat Key real estate website of Mary Bernas. I know you will be glad you did.

Are You Ready for Hurricane Season

2008-06-01T15:37:00.003-04:00

Well, It's June 1st and the start of hurricane season not only in Florida but all over the Southeastern coast of the United States.

Are you prepared to protect youself and your family in case of any serious incident ? It's always better to be safe than sorry. You may want to take a few minutes now and read this Hurricane Readiness Article

Come Enjoy Siesta Key in Sarasota Florida

2008-05-21T13:39:00.005-04:00

Siesta Key's famous soft white powdery beach is unsurpassed in its beauty. Residents and tourists marvel at its beauty from dawn to romantic evening sunsets. But just back from that marvelous beach is an artist and writer's colony with shops, fine restaurants, and boutiques as well as homes and condos to match every taste.

Siesta Key real estate includes every imaginable form of home from simple beachfront seasonal and year-round waterfront homes and condos to elegant estates.

Go sailing, boating or fishing every day of the year. Play tennis, go shopping or just relax under the warm sun on that deligthful powdery soft, white beach. There is a waterfront home or condo for sale to suit every taste on the Siesta Key real estate market in Sarasota Florida.

Come experience the exhilarating fun of Siesta Key.

Welcome to Tampa Florida

2008-05-18T12:33:00.003-04:00

It's no wonder Tampa is the "heart" of Tampa Bay. The climate, low cost of living and wide variety of activities and events are ideal for young families and retirees alike. Tampa Bay's weather will delight you. The average year-round temperature is 72°, a refreshing 60° in January and a warm average of 82° in August.

Our phenomenal weather fosters an abundance of outdoor recreation. The Hillsborough River, stretching 56 miles, offers endless activities including canoeing, fishing, camping and hiking. There are nearly 200 parks, 136 picnic areas and 80 playgrounds. For sports, there are swimming pools, tennis and racquet ball courts, golf courses and playing fields as wellas professional baseball, hockey and football teams, including the SuperBowl winning Tampa Bay Buccaneers.

Lowry Park Zoo thrills and entertains families with frequent events as does the Florida Acquarium. Those seeking art, music, dance and theater find a wealth of galleries and museums such as the Tampa Museum of Art, Museum of Science & Industry and USF's Contemporary Art Museum. Music lovers can hear everything from blues to reggae at local venues. Busy seasons of plays, Broadway musicals and operas excite thousands of patrons in alternative and community theaters as well as at the Tampa Bay Performing Arts Center.

Tampa's unique culture is enhanced by several annual events. The most well known area festivity is the celebration of the Gasparilla Pirate Fest, Tampa's own version of Mardi Gras, complete with parades, arts and entertainment. There's also the annual Strawberry Festival in Plant City and the Air Fest at MacDill AFB. Add dozens of arts and crafts shows, parades, street festivals and you'll understand why Tampa Florida is the entertainment mecca of the Florida West Coast.

In Tampa and surrounding communities in Hillsborough and Pasco County, there are homes, townhomes and condominiums from the most luxurious to the most affordable. There is something for everyone in Tampa Bay Florida

For more info on popular Tampa Bay communities, visit the Tampa Florida website of Cheryl Stimac. She would be delighted to show you all that Tampa Bay Florida has to offer. Or, you may E-Mail Cheryl Stimac at your convenience.

Why Selling Right Now Might be A Smart Move

2008-05-07T11:30:00.008-04:00

At first, it might seem counter-intuitive, but if you think about it, right now might be the best time to sell your home.

Every home has things about it that you wish you could change but you can't. You may or may not have noticed these issues when you bought the home but you can't fix them now for any number of reasons. Maybe the cost would be prohibitive driving your investment in the home beyond what the local market will support. Or, maybe your home cannot be changed enough to suit your current needs and desires because of its physical structure, its lot size, its location, or your own circumstances. Maybe it was near a great school when you bought it, but now with the kids grown, that school nearby is just a source of noise and traffic congestion. Realtors call these problems with a home, it's "unchangeables."

"But why is this good time to sell when prices have dropped as much as 20%," you ask. Well, here's why. While the price you can get for your current home may be down, so is the price of a home that doesn't have the drawbacks, or "unchangebales" of your current home. With interest rates historically low and recent home price declines, this may be the right time for you to step up to the home you originally wanted but just couldn't afford.

Let's take an example. Supposing you bought your home originally for $300,000, but it has lost 20% of its value and can now be sold for closer to $240.000 -- you're down $60,000. But, the home you originally wanted that sold then for $425,000 is now down by that same 20% to $340,000, a drop of $85,000, almost one and a half times the reduction your own current home took.

And with so many homes currently on the market, if the seller of that $425,000 homw that's now worth only $340,000 needs to sell, it is very possible that, with the help of an aggressive Realtor, you can negotiate that price down substantially lower. If you can afford the home you originally paid $300,000 for, you can probably afford the home you always wanted if you buy it now when prices are depressed.

As a bonus, when home prices start to rebound, you'll not only have the nicer home, but that new home's price will rise even faster than your old one with those troublesome "unchangeables."

For help in finding the right home for you, visit Cheryl Stimac's Tampa Florida Real Estate website. In Sarasota Florida, visit Beverly Rabalais' Sarasota Real Estate website. If you are in the Atlanta or Marietta Georgia real estate market, visit Mike Lazazzara's Atlanta Georgia real estate website. You'll be glad you did.

For general information about Florida or Georgia real estate and listings of professionals who provide real estate or real estate-related services in Florida and Georgia, you may want to check out our Best Realtors in Florida website.

April is "Fair Housing Month"

2008-04-25T12:48:00.002-04:00

“Forty years after the passage of the Fair Housing Act, an alarming number of people are still being denied housing and still need the protections this landmark law offers,” said Kim Kendrick, U.S. Department of Housing and Urban Development (HUD) Assistant Secretary for Fair Housing and Equal Opportunity. “This report underscores the importance of HUD’s continued enforcement, education, and outreach activities to ensure that all Americans have equal access to housing opportunities.”

More than 10,000 people filed housing discrimination complaints last year, most from persons with disabilities. HUD also found that race-based housing discrimination was the second most frequent reason individuals filed complaints.

Read the full article on HUD's website.

Sarasota Cuts Budget to Cover Property Tax Reductions - Others Will Follow

2008-04-21T15:40:00.003-04:00

Sarasota Florida city manager, Robert Bartolotta, said last week that $8 million is being cut from the city's projected $10.2 million deficit . He announced elimination of 89 jobs, with the Sarasota Police Department bearing one-third of the staffing cuts.

27 Sarasota city police positions were cut while another 62 open positions were eliminated. "The police force reductions, however, did not include "street level" officers and will not affect resident safety," Bartolotta said. Police Chief Peter Abbott said his focus will be on keeping the same number of officers out patrolling the streets.

Read the full article. Then view any of these Florida real estate websites.

Rich Stover, Sarasota Florida Realtor or Cheryl Stimac, Tampa Florida Realtor or Mary Bernas, Longboat Key luxury homes expert, or Bob Henley Sarasota & Venice Real Estate expert for nformation on the great home and condo bargains available now on the Florida real estate market.

Is Now the Time to Start Shopping For a Florida Home

2008-03-25T12:58:00.006-04:00

Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.

The Wall Street Journal on March 11, 2008 called this a "buyers market." While the advice the Journal offered is sound, you needs to keep several things in mind as you consider buying a home in Florida or anywhere else at this point.

A home should not be seen as similar to a stock market investment. A home is a place to live; to raise a family or to retire. It may very likely take six or seven years of living in the home to be able to sell it and come out ahead.

Make sure the home you want is "affordable" on your income. At last, lenders are returning to the old standby guidelines of wanting home buyers to spend no more than 28% to 30% of their gross monthly income on mortgage payments, property taxes, and home insurance. They also want to see the total of all your recurring monthly payments not exceed more than about 36% of your gross monthly income including things beyond the home cost such as student loans and auto leases. If you are a potential buyer, don't count on stretching beyond these guidelines because reputable lenders won’t approve such a loan any more.

Cash in the Bank is still King. Having enough money in the bank to pay your closing costs, which typically are 2% - 3% of the price of the home plus another 5% or more for a down payment is necessary. If you don't have it yet, you're probably not ready to start shopping for a home unless a relative has promised to help you with that cost.

Location. Location, location. As good real estate professionals know, homes in established neighborhoods in good school districts with low crime rates are much more likely to hold or increase in value over time than others.

Compare. Prospective buyers should ask their Realtor to show them the selling prices for comparable homes sold recently in the same neighborhood. You don't want to pay too much for a home.

And, finally don't fall for the For Sale By Owner pitch. Many such homes are badly overpriced. That's why they are being sold by the owner directly. No reputable Realtor will take a listing where the seller wants much more than the home is worth in today's market.

If you'd like real estate advice, particularly in the Sarasota real estate market
contact Rich Stover, Sarasota Realtor or in the Tampa market, Cheryl Stimac, Tampa Bay real estate expert.

RE/MAX Merger Creates Largest RE/MAX Office in Florida

2008-03-24T13:11:00.005-04:00

RE/MAX Properties and RE/MAX Gulfstream Realty recently announced their merger. The union will create Florida's largest RE/MAX office with combined sales transactions of 3,280 in 2007 . The new company will be named RE/MAX Alliance Group.

The two companies combined have a solid history of serving Florida's southwest coast for almost 20 years. Both companies have been recognized by RE/MAX International with several prestigious awards.

RE/MAX Alliance Group will be comprised of over 400 agents in 12 offices and
rank first in the state among all RE/MAX offices. The company has outlined
several new initiatives to serve customers and agents including:

-- An expanded International Division complete with agent certifications and
property exposure in international markets.

-- A commitment to Green Living principles offering agent training and
certification as well as sustainable housing information and services for
the environmentally conscious home buyer.

Peter Crowley will be President of the the newly formed RE/MAX Alliance Group. Crowley, former President of RE/MAX Properties, stated: "This merger will allow us to better serve our agents and customers alike. The two companies have complementary ideas and synergies. The new name represents a combined effort that is stronger
than each stand alone company. Our forward thinking initiatives make for a
powerful and dynamic union."

RE/MAX Alliance Group will offer insurance, mortgage, and title services
for residential and commercial real estate properties. The company will have 12 offices servicing Manatee, Sarasota and Charlotte counties.

You may visit the websites of three of the top realtors in the new REMAX Aliance Group's Sarasota office at Andree Huffine's website, 941-232-4053, or Bob Henley's website, direct line 941-724-3352, or Rich Stover's website, direct line 941-266-1799. Or you may call their office toll-free at 800-954-5454. All three are anxious to be of service to those interested in buying or selling Sarasota real estate.

Home Insurers Bracing for Foreclosure-Avoidance Fraud

2007-12-19T15:08:00.000-05:00

Insurance fraud investigators say they are bracing for an outbreak of home arsons set by cash-strapped homeowners looking for insurance money to escape from foreclosures on the homes they bought that are now worth less than they owe on them.

Falling home values and tighter lending rules are making it difficult for many people to refinance their way out of trouble, get loan work outs, or otherwise escape foreclosure.

Homeowners who resort to such tactics face felony charges including arson, conspiracy and fraud. The charges could be much greater if someone is harmed. If the charges stick, homeowners who set their homes ablaze likely will be jailed.

Read the full article on the
Homes101 website.

Before You Buy That Attractivwely-Priced Foreclosure Condo

2007-12-19T14:45:00.000-05:00

Before you buy that foreclosure or short-sale condominium in Florida, you need to know what else is involved other than just an attractively low price. You can learn all the basic information you need to understand before you proceed beyond the point of just knowing the unit is available at an unusually attractive price point. Read the full article and then call one of the Best Realtors in Florida for assistance with your purchase.

Florida Legislature Passes Propopsed Constitutuional Amendment to Cut Property Tax 12.5 Billion

2007-11-15T14:11:00.000-05:00

Responding to skyrocketing coastal property values and taxes, Florida lawmakers on Monday passed a proposed constitutional amendment that backers say would cut local property taxes by $12.5 billion over the next five years.

Summary of the Plan:
- Provides statewide portability up to $500,000 in value for homesteaded Floridians, including school taxes retroactive to January 1, 2007.
- Creates a $25,000 tangible personal property tax exemption for businesses.
- Creates an assessment cap of 10% for all non-homestead property, but the cap will sunset in 10 years and must be placed on the ballot for reauthorization. This provision does not include school taxes.
- In addition to the current $25,000 homestead exemption, the portion between $50,000-75,000 would be exempt from property taxes-though the school board portion would still be taxed. The average savings for this component is $240 a year.

Read the full article here. For additional information call Rich Stover at (941) 266-1799

What Happened to Expected Insurance Savings

2007-10-05T14:54:00.000-04:00

According to an article in the WCTV Tallahassee Headlines, only about half of the insurance companies doing business in Florida have complied with a new rate filing law. Insurers are supposed to pass property insurance savings on to consumers from the state's assumption of $15 billion in risk. So far, the results are mixed.

The most upsetting has been the request by Allstate for an average 42% hike with another 28% hike for a subsidiary. These filings come at the same time the state has issued subpoenas to insurance companies and insurance rating companies to find out why rates have not decreased as expected.

The good news, if there is any, is that the State would have to approve any such rate increases and Gov Crist says that that is highly unlikely to happen.

Foreclosures still impacting home prices negatively

2007-09-29T18:00:00.000-04:00

September is the month when we usually enter a seasonally slow real estate market and it normally continues until about January of next year., August numbers show that foreclosure activity rose by 77% over the month of July. We expect continued record increases in the foreclosure rate in October. In total almost 34,000 foreclosures were filed in Florida, or one in every 243 households filed for foreclosure.

While some so-called experts predict that the Florida real estate market will recover by the end of 2008, each new monthly report shows we are not on the path to recovery.. certainly at least not yet. Reports also show that, based upon the number of home buyers that took out adjustable interest rate loans back in 2004 to 2006, many of whom are bow nowing into foreclosure, more and more home buyers will face financial difficulty and be forced into foreclosure.

We believe this adjustable rate mortgage issue will continue to keep forcing homes into foreclosure for many many months to come. We could, in fact be looking at as much as four more years of declining prices, not just one year.

Buyers can get it great deal on a house right now but for sellers who bought in 2004 to 2006, a big loss is inevitable if they need to sell anytime soon.

Buy a new home or remodel with Rampart Homes

2007-08-20T13:12:00.000-04:00

If you're interested in buying a new or resale home in Sarasota County Florida, call upon Connie Belmont of Rampart Homes,Inc. But, if you would rather remodel or expand the home you already have, my associates at Rampart Homes, Inc can do that for you better, and more efficiently than anyone else in the Sarasota Florida area.

Sarasota Landlords Revolt at Property Tax Over-ride

2007-08-16T14:04:00.001-04:00

According to Rich Stover, Sarasota Realtor, Sarasota landlords are incensed that Sarasota Commissioners circumvented the Florida State Legislature's initiative to hold down property taxes. In response the Sarasota landlords association has started a petition drive to "recall" the members of the Sarasota Commission. The landlord association's 500+ members control roughly 5,000 units in Sarasota County.

The change to Florida property tax law included an "override button" allowing local commissioners to "override" the property tax rollbacks and caps. The Sarasota commissioners voted on July 19th to enact that override provision. The Sarasota commissioners are, so far, the only group to have "pushed the override button." The commissioners approved a property tax rate slightly below the city's current rate of 2.9022 mills, above the 2.5849 set for the city in the new legislation.

The sentiments of the Sarasota area landlords echo the feelings of many small businesses as well as Florida snowbirds about the recent property tax changes. They see the new law as a tax break only for those already getting the biggest break; Florida's homesteaded property owners.

According to the Sarasota Herald Tribune, Kurt Wenner, research analyst said, "Landlords have been getting hammered. So have small businesses, snowbirds, and anybody who owns any non-homesteaded property. The Florida "Save Our Homes" constitutional amendment, which caps property tax increases for homesteaders, has put the burden of spiraling taxes on the back of non-homesteaders."

A Sarasota Commissioners' spokesperson said board members did their best to trim the budget before overriding the Legislature's spending cap. "I thought we were as even handed as we could be," he said.

The man leading the recall effort, Harvey Vengroff, owns 1,400 units in Sarasota and Manatee counties. The Sarasota Herald Tribune reported Vengroff as saying,"They aren't doing anything for people who rent, and those are the people who need it more than homeowners, aren't they?"

Landlords may be unhappy, but removing public officials from office by recall is nearly impossible. "Voting in a way that citizens disagree with isn't a legal basis for a recall," said Bob Fournier, Sarasota's city attorney.

Kathy Beavers, another Sarasota Realtor, feels that the biggest impact of this action by Sarasota landlords may be that it will crystalize what many non-homesteaded property owners have felt for some time; while something must be done to hold down Florida property taxes, it won't be easy and its effects will be felt unevenly.

Property Taxes Effect on Florida Real Estate Values

2007-08-09T19:57:00.000-04:00

One of the greatest drags on the value of real estate in Florida is the impact of ever-rising property taxes. Those taxes, when combined with enormous prices for property insurance, when it's available at all, are killing off the attractiveness of Florida as a place to buy a second home.

The Topic of this Blog - Florida Real Estate

2007-08-08T10:04:00.000-04:00

Welcome to the new Real Estate of Florida blog. We will use this blog to keep abreast of and accept comments from anyone and everyone with an interest in real estate in the state of Florida.

Please join in the discussion.