Real Estate Market http://feed.informer.com/digests/ZHNZCBKGPH/feeder Real Estate Market Respective post owners and feed distributors Fri, 12 Jan 2018 07:23:38 -0500 Feed Informer http://feed.informer.com/ When is the RIGHT time to Sell and Buy your next home? https://talktocj.com/right-time-to-sell-buy/ Talk to CJ urn:uuid:bb87fc97-58c4-b6c0-0c14-74f3cc3eac63 Mon, 08 Aug 2022 17:45:59 -0400 <p>The “right time” to sell, buy, or move is a very personal decision and typically has little to do with the actual real estate market. In this video, I'll share how to decide when is the best time for you and how to start making plans to be ready.</p> <p>The post <a rel="nofollow" href="https://talktocj.com/right-time-to-sell-buy/">When is the RIGHT time to Sell and Buy your next home?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><iframe src="https://player.vimeo.com/video/723184344?h=651bbfc8a8" width="640" height="564" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p> <h2>When is the RIGHT time to Sell and Buy your next home?</h2> <p>The “right time” to sell, buy, or move &#8211; is a very personal decision and typically has little to do with the actual real estate market. The right time to sell, buy, and move, is when it fits you and your needs best. In this video, I&#8217;ll share how to decide when is the best time for you and how to start making plans to be ready.</p> <p>No one can predict the real estate market perfectly.  Most shifts in the real estate market are recognized about 3 to 6  months after they actually occur.  So -the first step to any real estate move is to STAY CALM AND PLAN.  By identifying your goals and planning your move you will find no matter what the market is doing, you will be ready for it.</p> <h3><b>Here are a few planning steps to consider:</b></h3> <p><b> • First &#8211; </b><b>Decide when is the best time to move. </b>&#8211; Do you have big projects at work wrapping up at a certain time? Or maybe a slower season? Should the move be planned around the school year during breaks or over the summer?  When is your next vacation planned? Target a couple of time periods over the next 6 months to a year that are ideal.  In general, planning to sell ,buy, and move can be a 3-6 month process.</p> <p>•Next – Create <b>your top 10 list of wants and needs as well as the PROS and CONS</b>  regarding the move.  Making a list will help you become real clear on what you want and why you want it!  It will help you plan for the compromises that almost always occur. Take the time to involve those who will be impacted by this decision.  This can be just you, your spouse, your significant other, your kids, your extended family, your friends, and even pets! This way you know the pressure points up front.</p> <p>•Now &#8211; <b>Start working on a total budget for this move.</b>  This is not necessarily about the actual sales and purchase dollars related to the transaction but more about the costs involved around the move itself. If this move is not in the city you currently reside in, look at the difference in local and state taxes, resource-closing costs typical for the area, and of course the general cost of living. Utilizing tools online can help you estimate moving costs.  Don’t forget to budget for work potentially needed to prepare your home for sale like painting and small repairs, as well as move-in work that may be necessary for the new home.</p> <p>That will be enough to get you started. Remember, the right time for you to sell, buy, and move should be determined by your wants and needs not by anything else.   Ready for the next step? Watch the next video in this series titled  “Preparing for Your Move!</p> <p>The post <a rel="nofollow" href="https://talktocj.com/right-time-to-sell-buy/">When is the RIGHT time to Sell and Buy your next home?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> June Job Openings and Monetary Policy Considerations https://eyeonhousing.org/2022/08/june-job-openings-and-monetary-policy-considerations/ Eye On Housing urn:uuid:5a6489d7-5e72-7f97-e1eb-a3da4c66aea1 Mon, 08 Aug 2022 08:36:08 -0400 The construction labor market is cooling off as economic activity slows in response to tighter monetary policy per the latest job openings data. Given the Fed&#8217;s dual mandate of fighting inflation and maintaining maximum employment, macro price and jobs data are key to informing the Fed&#8217;s future policy moves. Inflation remains near a 40-year high and payroll employment growth is... <a href="https://eyeonhousing.org/2022/08/june-job-openings-and-monetary-policy-considerations/" class="read-more">Read More &#8250;</a> Job Gains Soar in July Amid Recession Fears https://eyeonhousing.org/2022/08/job-gains-soar-in-july-amid-recession-fears/ Eye On Housing urn:uuid:bc3a08e6-cbd4-a301-d16c-2607e0016bab Fri, 05 Aug 2022 11:46:43 -0400 Job growth accelerated in July amid higher inflation and growing economic pressures. Total nonfarm payroll employment increased by 528,000, and the unemployment rate edged down to 3.5% in July. Construction industry employment (both residential and non-residential) totaled 7.7 million and has exceeded its February 2020 level. In July, residential construction gained 14,100 jobs, and non-residential construction added 18,300 jobs. Residential... <a href="https://eyeonhousing.org/2022/08/job-gains-soar-in-july-amid-recession-fears/" class="read-more">Read More &#8250;</a> Headship Stabilizes During the Pandemic Housing Boom https://eyeonhousing.org/2022/08/headship-stabilizes-during-the-pandemic-housing-boom/ Eye On Housing urn:uuid:e7ea305f-241f-ad08-425b-d857cfc3d879 Fri, 05 Aug 2022 08:45:34 -0400 Headship rates for all age groups have been trending lower over the last two decades, with important implications for the demand for home building. The latest Current Population Survey (CPS) Annual Social and Economic Supplement (ASEC) data show that the pandemic housing boom brought this trend to a halt, with adults ages 35-64 now registering higher headship rates than they... <a href="https://eyeonhousing.org/2022/08/headship-stabilizes-during-the-pandemic-housing-boom/" class="read-more">Read More &#8250;</a> High Home Prices Is Main Reason Active Buyers Can’t Seal the Deal https://eyeonhousing.org/2022/08/high-home-prices-is-main-reason-active-buyers-cant-seal-the-deal/ Eye On Housing urn:uuid:aea0853b-28f8-ae04-3937-be41ee0c4cf9 Thu, 04 Aug 2022 10:00:33 -0400 An earlier post revealed that 63% of buyers who were actively engaged in the process of finding a home in the 2nd quarter of 2022 have spent 3+ months searching for a home without success. The most common reason these long-term searchers cite for not having bought by now is their inability to find an affordable home (43%).  In second... <a href="https://eyeonhousing.org/2022/08/high-home-prices-is-main-reason-active-buyers-cant-seal-the-deal/" class="read-more">Read More &#8250;</a> Housing Share of GDP Edges Lower in the Second Quarter of 2022 https://eyeonhousing.org/2022/08/housing-share-of-gdp-edges-lower-in-the-second-quarter-of-2022/ Eye On Housing urn:uuid:694273b3-89f9-7cd6-fbb0-bf671dd8a480 Thu, 04 Aug 2022 09:30:06 -0400 Housing’s share of the economy edged lower at the end of the first half of 2022. For the second quarter of 2022, overall GDP declined at a 0.9% annual rate, following a 1.6% decrease in the first quarter. Housing’s share of GDP decreased to 16.6%, slightly below the first quarter share of 16.7%. In the second quarter, the more cyclical home... <a href="https://eyeonhousing.org/2022/08/housing-share-of-gdp-edges-lower-in-the-second-quarter-of-2022/" class="read-more">Read More &#8250;</a> Banks Report Unchanged Home Lending Standards https://eyeonhousing.org/2022/08/banks-report-unchanged-home-lending-standards/ Eye On Housing urn:uuid:b20a8449-1f63-9bf8-1ca0-924220703c56 Wed, 03 Aug 2022 12:40:54 -0400 In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans. Major net shares of banks reported weaker demand for most RRE loans except for home equity lines of credit, for which a significant net share of banks... <a href="https://eyeonhousing.org/2022/08/banks-report-unchanged-home-lending-standards/" class="read-more">Read More &#8250;</a> More Prospective Buyers Are Actively Searching for a Home https://eyeonhousing.org/2022/08/more-prospective-buyers-are-actively-searching-for-a-home/ Eye On Housing urn:uuid:5669c890-8485-874c-0e8c-b3b5192822f6 Wed, 03 Aug 2022 10:00:05 -0400 The share of prospective home buyers who are actively engaged in the process to buy a home rose to 49% in the second quarter of 2022, after declining for three straight quarters.  The pivot is likely driven by less competition from buyers who have exited the market, which has encouraged many of those remaining to become active buyers. Except for... <a href="https://eyeonhousing.org/2022/08/more-prospective-buyers-are-actively-searching-for-a-home/" class="read-more">Read More &#8250;</a> Second Quarter of 2022 Homeownership Rate at 65.8% https://eyeonhousing.org/2022/08/second-quarter-of-2022-homeownership-rate-at-65-8/ Eye On Housing urn:uuid:4a68b23c-cc23-21b8-07e8-f46b7b7ace61 Tue, 02 Aug 2022 13:36:28 -0400 The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.8% in the second quarter of 2022, which is statistically unchanged from the last quarter reading (65.4%). The national rental vacancy rate slipped to 5.6%, while the homeowner vacancy rate stayed at 0.8%. Both rental and homeowner vacancy rates are hovering near historical lows, reflecting tight housing... <a href="https://eyeonhousing.org/2022/08/second-quarter-of-2022-homeownership-rate-at-65-8/" class="read-more">Read More &#8250;</a> The Mix of Home Buyers Is Changing, Leading to Improved Affordability https://eyeonhousing.org/2022/08/the-mix-of-home-buyers-is-changing-leading-to-improved-affordability/ Eye On Housing urn:uuid:5c8c63a1-9c26-65e5-150d-79e269b2b125 Tue, 02 Aug 2022 10:00:10 -0400 For the first time since 2020, affordability expectations improved in the second quarter of 2022.  After rising steadily for five straight quarters, the share of buyers who can only afford a minority of the homes for sale in their markets declined to 77%, down from 81% a quarter earlier.  Conversely, the share able to afford at least half the homes... <a href="https://eyeonhousing.org/2022/08/the-mix-of-home-buyers-is-changing-leading-to-improved-affordability/" class="read-more">Read More &#8250;</a> Private Residential Spending Declines in June https://eyeonhousing.org/2022/08/private-residential-spending-declines-in-june/ Eye On Housing urn:uuid:82705179-3b65-731b-6a86-ce321d8206e8 Mon, 01 Aug 2022 13:35:57 -0400 As mortgage rates reached 3-year high, private residential construction spending decreased 1.6% to a seasonally adjusted annual rate (SAAR) of $923.7 billion in June, according to NAHB’s analysis of the Census Construction Spending data. It was the first decline since May 2020. On a year-over-year basis, total private construction spending was 15.6% higher. The monthly declines are largely attributed to... <a href="https://eyeonhousing.org/2022/08/private-residential-spending-declines-in-june/" class="read-more">Read More &#8250;</a> June Sarasota home sales down 26.9%! https://www.dwellingwell.com/blog/june-sarasota-home-sales-down-27/ Sarasota Real Estate News & Blog urn:uuid:08346645-04c5-d7b3-89bc-e6627792acda Fri, 22 Jul 2022 13:35:19 -0400 June 2022 Real Estate Market Statistics Sarasota county single family homes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_-_SFHJune.png" width="940" height="788" /> Sarasota county condo/townhome June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_-_Townhouses_CondosJune.png" width="940" height="788" /> Manatee county single family homes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Manatee_-_SFHJune.png" width="940" height="788" /> Manatee county condo/townhome June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Manatee_-_Townhouses_CondosJune.png" width="940" height="788" /> Pinellas county single family homes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Pinellas_-_SFHJune.png" width="940" height="788" /> Pinellas county condo/townhomes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Pinellas_-_Townhouses_CondosJune.png" width="940" height="788" /> Hillsborough county single family homes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Hillsborough_-_SFHJune.png" width="940" height="788" /> Hillsborough county condo/townhomes June 2022 <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Hillsborough_-_Townhouses_CondosJune.png" width="940" height="788" /> 16-Story Mixed-Use Project to Replace Il Panificio https://www.dwellingwell.com/blog/16-story-mixed-use-project-to-replace-il-panificio/ Sarasota Real Estate News & Blog urn:uuid:507699c3-e16e-6f3a-6f12-43ef1a7c0a69 Fri, 22 Jul 2022 13:11:55 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/Panificio.png" width="500" height="335" alt="16-Story Mixed-Use Project to Replace Il Panificio" title="16-Story Mixed-Use Project to Replace Il Panificio" style="float: right;" />A new 16-story building is coming to downtown Sarasota in a space that&rsquo;s currently home to Il Panificio pizzeria. It will have 120 hotel rooms, 35 residential units and 126 parking spaces, and the ground floor will include a two-level restaurant open to the public. The project will sit on nearly half an acre on the corner of Goodrich Avenue and Main Street&mdash;land that is currently home to three single-story buildings: Il Panificio, Main Street Shoe Repair and Fringe Spa Salon. The new building will inherit the Panificio address of 1703 Main St., Sarasota. The project will require the demolition of all three buildings. Il Panificio has been a popular destination since 1991. For those of you mourning the loss, chin up: There&rsquo;s another location on Siesta Key. According to architectural drawings, the first floor of the new building will be dedicated to a two-story, 4,500-square-foot restaurant and lobby, and levels two through four are for parking. The hotel starts on the fifth floor, where guests can access a 2,032-square-foot bar and dining area, a swimming pool and a gym. The hotel&rsquo;s 120 units will span levels six through 10 and will range from 371 to 624 square feet. Levels 11 through 16 will be dedicated to residential units, with six per floor, except up at the top, where the 16th floor will have five penthouses. The units have two or three bedrooms and range from 1,380 to 2,626 square feet. The Kentucky company Hospitality Group Sarasota Portfolio V LLC bought the parcel from Sarasota&rsquo;s NCN Realty LLC on March 29 for $5 million. NCN Realty is registered to Tracy Melone, who owns and manages Il Panificio. NCN purchased the parcel in 2001 for $578,900. The new project is led by Aventura-based Trepp Developments, which gained an exception to build up to 16 levels thanks to a city zoning code provision that allows the director of development services to approve up to two buildings that exceed the downtown core height restriction. Otherwise, the height limit in the downtown core is 10 stories. While the project does not have to come back to the City of Sarasota Development Review Committee for further approval, there are still comments from a few city departments the applicant must address before final approval is granted. Local firm Hoyt Architects is leading the design and renderings are in the works. The firm is also designing the upcoming 18-story One Park luxury condominium tower headed to the bayfront. <a href="https://www.sarasotamagazine.com/home-and-real-estate/2022/07/panificio-sarasota-hotel-development">Original Article</a> Are Your Condo Fees Going Up? https://www.dwellingwell.com/blog/are-your-condo-fees-going-up/ Sarasota Real Estate News & Blog urn:uuid:b3b3b2d6-ecd5-5707-11fa-c1f602aa5f17 Fri, 08 Jul 2022 14:47:45 -0400 Florida Condos Start to See Impact of Surfside Collapse By Kimberly Miller The tragedy rattled a Fla. insurance industry that was already struggling. One Palm Beach condo complex expected a 25% increase &ndash; but coverage rose by 82%. <article data-history-node-id="24635" role="article" about="/news-media/news-articles/2022/07/fla-condos-start-see-impact-surfside-collapse" class="news full clearfix" aria-label="Fla. Condos Start to See Impact of Surfside Collapse"> WEST PALM BEACH, Fla. &ndash; The specter of Champlain Towers South came in an email alert this month for residents of a West Palm Beach waterside condominium. Insurance on the 12-story building across from the Lake Worth Lagoon increased 82%, requiring a special meeting to hike the budget and jack up dues. It was a blow for the association, which had planned for just a 25% rate jump on top of a 25% increase the previous year. &ldquo;Everyone is shocked,&rdquo; said Mary McSwain, who bought her one-bedroom unit in the 51-year-old Portofino South Condominium in January. &ldquo;I&rsquo;m just getting near retirement and I thought this was going to be my dream place but I&rsquo;m getting priced out.&rdquo; McSwain, 67, said her dues are going from $914 a month to $1,347 &ndash; a monetary burden that means she will work more and longer instead of scaling back her job as an attorney. While it&rsquo;s impossible to tease out exactly how much of the insurance increase was a reaction to the collapse in Surfside, Portofino property manager Robert Gardner said &ldquo;of course&rdquo; some of it is a consequence of the tragedy that killed 98 people in the early morning darkness of June 24, 2021. Insurers in general statewide were already on the ropes before the tower fell, the collapse was a knock-down punch. Gardner had just three companies willing to give him a quote after the association got notices its insurance would not be renewed under the same terms. The reasons for denials ran the gamut &ndash; the building&rsquo;s too old, it has cast iron pipes, there&rsquo;s no sprinkler system, the roof is 21 years old. &ldquo;It goes on and on,&rdquo; Gardner said. &ldquo;It&rsquo;s just nuts right now.&rdquo; And it&rsquo;s likely to get more expensive for owners under the new condo law approved during a special legislative session. The new law took effect when Gov. Ron DeSantis signed it May 26, but most safety provisions do not kick in until late 2024. It requires maintenance accountability measures on older condos three stories or higher, such as engineering inspections and dedicated reserves to pay for fixes. For the 140-unit Portofino South, the insurance pinch is first. And it comes as the Portofino owners are looking at another hit, too. Unrelated to the Champlain Towers collapse, Portofino also must by law install a sprinkler system by Jan. 1, 2024 &ndash; an expense that will cost at least $7 million. The new, post-Champlain law requires a structural integrity reserve study to determine how much money is needed for future major repairs to be completed by Dec. 31, 2024. Following completion of the report, condo boards must reserve funds for projects identified in the report and cannot use those reserves for other purposes. West Palm Beach attorney Michael Gelfand, who served on the Condominium Law and Policy Life Safety Advisory Task Force set up after the Surfside collapse, said there is a concern people will not be able to afford what is coming. Years of lax state oversight, weak regulations, and volunteer condo boards reluctant to levy heavy dues on their friends and neighbors have allowed buildings to deteriorate, he said. Champlain Towers South had about $706,000 in its reserves as of January 2021, according to a review the year before by the company Association Reserves. But it needed more than $10 million for projected repairs. &ldquo;After decades, the real cost of housing will be recognized for those who actually own and occupy condominiums,&rdquo; Gelfand said. &ldquo;If people can&rsquo;t afford it, they will have to move. That is not an easy thing to say, but that is what it comes down to.&rdquo; The end of some condominiums? He suspects some condominiums will vote to sell out to developers in lieu of paying millions of dollars in assessments. The process, called condominium termination, isn&rsquo;t new but may attract developers with plans to demolish buildings and replace them with new construction. With the real estate market still humming in South Florida, beachfront properties are in high demand. An April Wall Street Journal article notes that a handful of Miami-area condos have already sold to developers. &ldquo;We are going to see the vultures come in, and in some situations, they will make an offer that can&rsquo;t be refused,&rdquo; Gelfand said. With the insurance market in shambles, some condominiums have turned to the state-run Citizens Property Insurance Corp. for coverage. In Palm Beach County, the number of condominium associations covered by Citizens in buildings 40 years and older increased 64% (from 402 to 662) between April 2021 and May 2022. On buildings younger than 40 years, policies increased 70% (from 144 to 244) during the same time period. Portofino South was able to find private insurance this year, and Gardner hopes the insurance legislation passed during the special session will help next year. &ldquo;But I have no idea what&rsquo;s going to happen,&rdquo; he said. Some Portofino residents are paying more for their individual unit insurance as well as the association increase. Vicky Ross, 79, was canceled from her private carrier earlier this month and had to enroll with Citizens, which included a $500 rate hike. In addition, her association dues will go up $433 a month. Throughout Palm Beach County, the number of personal residential condominium policies written by Citizens increased 61% in buildings 40 years old and older between April 2021 and May 2022. In buildings younger than 40, it went up 43%. &ldquo;All I know is at the end of the month, I won&rsquo;t have the little surplus I had before,&rdquo; Ross said. Portofino South condo owner Margaret Daley, 82, has been a full-time resident of the building for eight years but has been visiting it since it opened in 1971 when her parents bought a unit there. A former association vice president, Daley said the building has been well maintained, was just painted and recently completed a restoration project. She&rsquo;s had no concerns about its safety, even after the Surfside collapse. While she doesn&rsquo;t like the higher costs, she&rsquo;s not overly concerned. Still, Portofino association President Gregory D&rsquo;elia is nervous about how owners on fixed incomes will pay for the increases, and he&rsquo;s angry with lawmakers for letting boards get away with putting off repairs for so many years. He&rsquo;d like to install new elevators, but instead he has to budget for the sprinkler system, which was originally required to be completed by the end of 2019 but had its deadline extended to the end of next year. &ldquo;My frustration is the Legislature turned a blind eye to this,&rdquo; he said. &ldquo;Where were you all this time so that Champlain didn&rsquo;t happen?&rdquo; The unknown is what scares others, including McSwain, who said for now she&rsquo;ll dip into her savings to pay the extra costs. &ldquo;I just don&rsquo;t know how many more increases or special assessments there can be,&rdquo; she said. &ldquo;A couple of people in our building are on fixed incomes and they said they just can&rsquo;t absorb this.&rdquo; &copy; Copyright 2022 Palm Beach Newspapers, Inc. Kimberly Miller is a veteran journalist for The Palm Beach Post, part of the USA Today Network of Florida. <a href="https://www.floridarealtors.org/news-media/news-articles/2022/07/fla-condos-start-see-impact-surfside-collapse" style="font-size: 17px;">Fla. Condos Start to See Impact of Surfside Collapse</a> </article> <a href="https://www.dwellingwell.com/blog/florida-lawmakers-pass-new-condo-safety-legislation-a-year-after-surfside-disaster/">Florida lawmakers pass new condo safety legislation a year after Surfside disaster</a> The Current Silicon Valley Real Estate Market https://talktocj.com/the-current-silicon-valley-real-estate-market/ Talk to CJ urn:uuid:f95708c7-ce81-3221-d546-a609d239def9 Sat, 25 Jun 2022 03:04:29 -0400 <p> Recently, the increase in interest rates has sent off alarms in the Silicon Valley real estate selling and buying community.  You will see graphs showing the current rates being relatively reasonable based on 50+ years of history and encouraging buyers to keep shopping.  We may see a small bump up in the number of homes for [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/the-current-silicon-valley-real-estate-market/">The Current Silicon Valley Real Estate Market</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><iframe src="https://player.vimeo.com/video/724643731?h=532285e4d5" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span></iframe><br /> Recently, the increase in interest rates has sent off alarms in the Silicon Valley real estate selling and buying community.  You will see graphs showing the current rates being relatively reasonable based on 50+ years of history and encouraging buyers to keep shopping.  We may see a small bump up in the number of homes for sale over the summer as sellers try to grab the coattails of the longest-running annual double-digit appreciation run in U.S. real estate history. The Silicon Valley real estate market will be confused for a bit as we all digest the multiple layers of influencers on the housing market.</p> <p><img class="aligncenter wp-image-31123 size-full" src="https://talktocj.com/wp-content/uploads/2022/06/Historical-graph-real-estate-pricing-silicon-valley-california.png" alt="Historical graph real estate pricing Silicon Valley California" width="568" height="593" srcset="https://talktocj.com/wp-content/uploads/2022/06/Historical-graph-real-estate-pricing-silicon-valley-california.png 568w, https://talktocj.com/wp-content/uploads/2022/06/Historical-graph-real-estate-pricing-silicon-valley-california-480x501.png 480w" sizes="(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 568px, 100vw" /></p> <p>Most importantly, there is no one blanket response to how the real estate market is doing as it is very dependent on the area, the zip code, the home, and the other global contributors. This is not a country-wide fire sale.  This will be an adjusting market and the buyers will have a bigger say in what value really means to them.  Also, we normally are not able to pick our ideal move date so remember, the market is the market, now let’s see how we can meet your goals.</p> <p>Since late 2008, the Silicon Valley Real Estate market has been appreciating at an amazing rate. This can be attributed to extremely low-interest rates, technology wealth, our amazing weather, and simply, we have not built enough homes to meet the demand.  According to a <a href="https://www.bizjournals.com/sanjose/news/2021/06/16/silicon-valley-had-new-jobs-new-housing-imbalance.html" target="_blank" rel="noopener">recent article in the Silicon Valley Business Journal</a>, over the last 10 years, only one home has been built for every 6 jobs created. And that pretty much sums up our challenge.</p> <h2>The next 5 years in Silicon Valley real estate</h2> <p>We will see if the number of homes for sale increases significantly in the next 5 years. Many are talking about a “crash” and how everyone should “just wait” for more supply and better pricing.  In May of 2007, in the middle of the crash, we had nearly 4500 homes for sale in San Jose.  As of June 2022; we have less than 1000 homes for sale.</p> <p>The median price went from a high in June of 2005 of $650,000 to a low of $375,000, 4 years later.  So even in the “crash”, the depreciation was an average of 8% per year.</p> <p>From Jan 2005 when the inventory was 907 to March 2009 when inventory was 4,500 the total price decline for San Jose from the top of the market to the bottom was about 30%.</p> <p>According to the <a href="https://www.mercurynews.com/2022/02/04/san-jose-is-the-third-highest-equity-rich-city-in-the-nation/" target="_blank" rel="noopener">Mercury News in Feb 2022</a>, we are experiencing one of the richest equity markets in history “ As of the last quarter of 2021, 42% of residential properties with an underlying mortgage were considered equity rich, according to a report from Attom, a real estate data company. That was up from 30% in the fourth quarter of 2020.” The article also states, “Only 3% of all loans were seriously underwater, a situation in which the homeowner owed at least 25% more on their loans than the home is worth”</p> <p>In the meantime, interest rate increases will impact buying power.  Looking at a $1 million dollar home price, buying power decreases by about 2.5% for each ¼ % rate increase.  For example; on a $1M purchase price buying power would be reduced to $975,000 with a ¼% hike in rates.</p> <h2>Here&#8217;s the bottom line</h2> <p>Every market has its challenges and waiting for the perfect market will be futile.  But if you are <a href="https://talktocj.com/sell/" target="_blank" rel="noopener">ready to move</a>, then let’s find the best way to help you with the minimum amount of stress necessary.   There are so many options, the only way you will know if it’s the right time for you to make the next move is to <a href="https://talktocj.com/meet/" target="_blank" rel="noopener">sit down with professionals</a> to help you evaluate the whole idea.</p> <p>For me, I love a challenge and it is one of the reasons I enjoy working with clients on their real estate moves.  It is not always a slam dunk but with me, you will know your best interest and goals are my top priorities from beginning to closing and beyond.</p> <p>Let’s talk about your real estate goals.  I want to learn what is important to you and how I can best help negotiate the Silicon Valley real estate market.</p> <p><a href="https://talktocj.com/market-stats/"><img class="size-full wp-image-31182" src="https://talktocj.com/wp-content/uploads/2022/06/View-Your-Market-Stats.png" alt="View Your Market Stats" width="283" height="47" /></a></p> <p>The post <a rel="nofollow" href="https://talktocj.com/the-current-silicon-valley-real-estate-market/">The Current Silicon Valley Real Estate Market</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Corcoran's A-List June 2022 https://www.dwellingwell.com/blog/corcorans-a-list-june-2022/ Sarasota Real Estate News & Blog urn:uuid:8dd97971-88c7-1a89-d330-7a46fa1f9fe0 Tue, 07 Jun 2022 13:59:43 -0400 From the mountains of Maui&nbsp;to the shores of the East End, enjoy our survey of Corcoran&rsquo;s most incredible listings across the country.&nbsp;Taking center stage this month: two distinct flavors of New York City, lakefront retreats in Tahoe and North Carolina, and a Hawaii getaway with a half-dozen&mdash;yes, you read correctly&mdash;outdoor showers. Manhattan <a href="https://www.corcoran.com/homes-for-sale/44-stuyvesant-street-manhattan-ny-10003/21779893/regionId=1" target="_blank"><img width="1024" height="683" src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1024x683.jpg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1024x683.jpg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1024x683.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-20x13.jpg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1024x683.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/44_Stuyvesant_lr1-20x13.jpg 20w" /></a> <a href="https://www.corcoran.com/homes-for-sale/44-stuyvesant-street-manhattan-ny-10003/21779893/regionId=1">44 Stuyvesant Street, East Village</a> What&rsquo;s Here:&nbsp;As if it wasn&rsquo;t rare enough to find a home on minuscule Stuyvesant Street, something about this Federal-style five-bed feels ever-so extra special. It&rsquo;s probably because this townhouse is Manhattan&rsquo;s&nbsp;oldest&nbsp;residence, built in 1795 by Nicholas William Stuyvesant&mdash;part of a historical family lineage charting back to when old New York was once New Amsterdam. Exterior elements like Flemish-bond brickwork and splayed lintels recall construction conventions of the late-1700s. Meanwhile, the interior unveils hardwood floors, eight fireplaces, and a parlor level adorned with intricate cornices atop walls, doorways, and window frames.&nbsp; What We Love:&nbsp;The top floor houses an artist&rsquo;s studio charmingly skylit through a clerestory window, a redesign reflective of the&nbsp;<a href="https://www.corcoran.com/nyc-real-estate/neighborhoods/east-village">East Village&rsquo;s</a>&nbsp;20th-century creative bent. Represented By:&nbsp;<a href="https://www.corcoran.com/real-estate-agents/monica-rittersporn/7030/regionId=1" target="_blank" rel="noopener">Monica Rittersporn</a>&nbsp;of&nbsp;<a href="https://www.corcoran.com/real-estate-offices/soho/576" target="_blank" rel="noopener">Corcoran&rsquo;s SoHo Office</a>. List:&nbsp;$8,900,000. <a href="https://www.corcoran.com/homes-for-sale/44-stuyvesant-street-manhattan-ny-10003/21779893/regionId=1" target="_blank" class="elementor-button-link elementor-button elementor-size-md" role="button">VIEW LISTING</a> The Bronx <a href="https://www.corcoran.com/homes-for-sale/4715-independence-avenue-bronx-ny-10471/21730429/regionId=1" target="_blank"><img width="1024" height="683" src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1024x683.jpeg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1024x683.jpeg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1024x683.jpeg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-300x200.jpeg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1536x1024.jpeg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-2048x1365.jpeg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-450x300.jpeg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-225x150.jpeg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-900x600.jpeg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1350x900.jpeg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-20x13.jpeg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1024x683.jpeg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-300x200.jpeg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1536x1024.jpeg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-2048x1365.jpeg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-450x300.jpeg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-225x150.jpeg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-900x600.jpeg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-1350x900.jpeg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/BackFacade-20x13.jpeg 20w" /></a> <a href="https://www.corcoran.com/homes-for-sale/4715-independence-avenue-bronx-ny-10471/21730429/regionId=1">4715 Independence Avenue, Riverdale</a> What&rsquo;s Here:&nbsp;No one considers their ideal New York City home could have a wraparound front porch buttressed by columns gazing over a lushly landscaped property, yet here is that exact thing in&nbsp;<a href="https://www.corcoran.com/nyc-real-estate/neighborhoods/riverdale">Riverdale</a>. Enter onto a knockout first floor, where near-12-foot ceilings leave plenty of space for exquisite millwork and wall moldings, and a grand archway frames a stately wooden staircase. A den, dining room, and living room all sport wood-burning fireplaces&mdash;with distinctive, intricate mantles&mdash;and bay windows, with the dining and living areas additionally boasting original chandeliers.&nbsp; What We Love:&nbsp;The fireplace, bay window, chandelier triumvirate re-appears in the glorious primary bedroom&mdash;part of a sublime luxe suite that includes a lavish bath, a walk-in closet equal in size to entire other rooms, and a private staircase up to a home gym. Represented By:&nbsp;<a href="https://www.corcoran.com/real-estate-agents/michael-rochios/7060/regionId=1" target="_blank" rel="noopener">Michael Rochios</a>&nbsp;of&nbsp;<a href="https://www.corcoran.com/real-estate-offices/west-side/585" target="_blank" rel="noopener">Corcoran&rsquo;s West Side Office</a>. List:&nbsp;$5,950,000. <a href="https://www.corcoran.com/homes-for-sale/4715-independence-avenue-bronx-ny-10471/21730429/regionId=1" target="_blank" class="elementor-button-link elementor-button elementor-size-md" role="button">VIEW LISTING</a> East End <a href="https://www.corcoran.com/homes-for-sale/44-forest-road-sag-harbor-ny-11963/6435906/regionId=3"><img width="1024" height="683" src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1024x683.jpg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1024x683.jpg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1024x683.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-20x13.jpg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1024x683.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/dock-d-20x13.jpg 20w" /></a> <a href="https://www.corcoran.com/homes-for-sale/44-forest-road-sag-harbor-ny-11963/6435906/regionId=3">44 Forest Road, Sag Harbor</a> What&rsquo;s Here:&nbsp;Life on the waterfront with all the treasures such a location commands. From the front, this six-bed home might seem unassuming in its Hamptons&rsquo; signature shingle-style&mdash;rest assured, it&rsquo;s anything but. Though there is a two-car garage, why would you arrive any other way than via boat to your private dock? Follow the path up to a stupendous deck, clad in bluestone and mahogany, complete with an infinity pool, hot tub, and built-in swim-up bar. Dry off and step into a double-height living room that completes this dramatic domicile, awash in natural light through windows spanning floor to vaulted ceiling. What We Love:&nbsp;We&rsquo;re submerging the lede a bit because the views from this home are without parallel. Whether on the dock, in the pool, or in the living room&mdash;not to mention the dining room, study, and primary bedroom&mdash;it&rsquo;s all picturesque vistas of Sag Harbor Bay all the time. Represented By:&nbsp;<a href="https://www.corcoran.com/real-estate-agents/mala-sander/7097/regionId=1" target="_blank" rel="noopener">Mala Sander</a>&nbsp;of&nbsp;<a href="https://www.corcoran.com/real-estate-offices/sag-harbor/553" target="_blank" rel="noopener">Corcoran&rsquo;s Sag Harbor Office</a>. List:&nbsp;$17,995,000. <a href="https://www.corcoran.com/homes-for-sale/44-forest-road-sag-harbor-ny-11963/6435906/regionId=3" target="_blank" class="elementor-button-link elementor-button elementor-size-md" role="button" style="text-align: center;">VIEW LISTING</a> <a href="https://www.corcoran.com/homes-for-sale/3875-hallock-lane-ext-mattituck-ny-11952/6492352/regionId=3?WebID=889378"><img width="1024" height="682" src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1024x682.jpg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1024x682.jpg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1024x682.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-20x13.jpg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1024x682.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1536x1024.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-2048x1365.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-450x300.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-900x600.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-1350x900.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/IMG_7335-20x13.jpg 20w" /></a> <a href="https://www.corcoran.com/homes-for-sale/3875-hallock-lane-ext-mattituck-ny-11952/6492352/regionId=3?WebID=889378">3875 Hallock Lane Ext, Mattituck</a> What&rsquo;s Here:&nbsp;Command your kingdom from this Medievalesque&nbsp;<a href="https://www.corcoran.com/hamptons-real-estate/neighborhoods/mattituck">Mattituck</a>&nbsp;manor. Whether around the dining room table or the back patio&rsquo;s gas fireplace, you&rsquo;ll find special spaces to entertain all your Knights of the Round Table across over three acres. The first-floor primary suite is fit for royalty with a fireplace, bathroom with double showers, substantial walk-in closet, sunny sitting area, and direct porch access. Back outside, venture down a granite staircase on a most-divine quest&mdash;at the end, you&rsquo;ll set foot on a private piece of Long Island Sound beach. What We Love:&nbsp;The fully-finished lower level has a stone arch-forward aesthetic that resembles a secret cellar, outfitted with such amenities as a pool table, home gym, and a bar. Represented By:&nbsp;<a href="https://www.corcoran.com/real-estate-agents/sheri-winter-parker/8771/regionId=1" target="_blank" rel="noopener">Sheri Winter Parker</a>&nbsp;of&nbsp;<a href="https://www.corcoran.com/real-estate-offices/north-fork/559" target="_blank" rel="noopener">Corcoran&rsquo;s North Fork Office</a>. List:&nbsp;$4,500,000. <a href="https://www.corcoran.com/homes-for-sale/3875-hallock-lane-ext-mattituck-ny-11952/6492352/regionId=3?WebID=889378" target="_blank" class="elementor-button-link elementor-button elementor-size-md" role="button">VIEW LISTING</a> Fairfield County <a href="https://www.corcoran.com/homes-for-sale/1-winding-lane-greenwich-ct-06830/66309235/regionId=122" target="_blank"><img width="1024" height="684" src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1024x684.jpg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1024x684.jpg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1024x684.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1536x1027.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-2048x1369.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-450x301.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-900x601.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1350x902.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-20x13.jpg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1024x684.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-300x200.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1536x1027.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-2048x1369.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-450x301.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-900x601.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-1350x902.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/06/DSC00529-20x13.jpg 20w" /></a> <a href="https://www.corcoran.com/homes-for-sale/1-winding-lane-greenwich-ct-06830/66309235/regionId=122" target="_blank">1 Winding Lane, Greenwich</a> What&rsquo;s Here:&nbsp;The neon sign in the at-home bar proclaims&nbsp;&ldquo;Linger Longer&rdquo; in this&nbsp;<a href="https://www.corcoran.com/greenwich-real-estate/neighborhoods/greenwich">Greenwich</a>&nbsp;compound and that&rsquo;s certainly a motto to take to heart here, in a home that has an outdoor tennis court and pool, an indoor basketball court (with the bar on a mezzanine level), a movie room, a home gym, and a separate pool house with a hot tub and another bar. There are five bedrooms, five full bathrooms, and three powder rooms in the primary house, a library, and multiple flexible spaces that can be configured as your heart desires.&nbsp; What We Love:&nbsp;There&rsquo;s also a separate two bedroom, one-and-a-half bathroom guest house on the 2.49-acre property. Represented By:&nbsp;<a href="https://www.corcoran.com/real-estate-agents/jeffrey-jackson/115401/regionId=122">Jeffrey Jackson</a>&nbsp;and&nbsp;<a href="https://www.corcoran.com/real-estate-agents/eric-parent/115422/regionId=122">Eric Parent</a>&nbsp;of&nbsp;<a href="https://www.corcoran.com/corcoran-centric-realty/22">Corcoran Centric Realty</a>. List:&nbsp;$6,995,000. <a href="https://www.corcoran.com/homes-for-sale/1-winding-lane-greenwich-ct-06830/66309235/regionId=122" target="_blank" class="elementor-button-link elementor-button elementor-size-sm" role="button">VIEW LISTING</a> South Florida <a href="https://www.corcoran.com/homes-for-sale/618-north-atlantic-drive-lantana-hypoluxo-island-fl-33462/6492423/regionId=2"><img width="1024" height="685" src="https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1024x685.jpg" class="attachment-large size-large thb-lazyload lazyautosizes lazyloaded" alt="618 North Atlantic Drive" loading="lazy" sizes="960px" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1024x685.jpg" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1024x685.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-300x201.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1536x1027.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-2048x1370.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-450x301.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-900x602.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1350x903.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-20x13.jpg 20w" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1024x685.jpg 1024w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-300x201.jpg 300w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1536x1027.jpg 1536w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-2048x1370.jpg 2048w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-450x301.jpg 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-225x150.jpg 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-900x602.jpg 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIsland-FL-33462-FULL-1350x903.jpg 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/05/050-618NorthAtlanticDrive-HypoluxoIslan Degree-Holding Individuals Make Up 70% of Home Ownership https://talktocj.com/degree-holding-individuals-make-up-70-of-home-ownership/ Talk to CJ urn:uuid:dbc74914-4ce3-f9cc-156a-d247f9c46bb4 Mon, 30 May 2022 08:04:22 -0400 <p>The Relationship Between College Degrees and Higher Home Ownership Rate Homeowners with a bachelor or associate&#8217;s degree accounted for around 70% of home ownership, according to a 2020 US Census report, indicating a strong correlation between education and access to the housing market. By contrast, the number of homeowners with only a high school diploma [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/degree-holding-individuals-make-up-70-of-home-ownership/">Degree-Holding Individuals Make Up 70% of Home Ownership</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <h2><b>The Relationship Between College Degrees and Higher Home Ownership Rate</b></h2> <p><span style="font-weight: 400;">Homeowners with a bachelor or associate&#8217;s degree accounted for around 70% of home ownership, according to a 2020 US Census report, indicating a strong correlation between education and access to the housing market. By contrast, the number of homeowners with only a high school diploma or less has been shrinking over the past 10 years, the data added.</span></p> <p><span style="font-weight: 400;">Between 2010 and 2020, degree-holding homeowners surged by 18%, while those with just a high school diploma dropped by 30%, a trend that&#8217;s expected to continue in the coming years. </span></p> <p><span style="font-weight: 400;">The changing demographics of homeowners can be attributed to several factors, including better access to higher education (remote learning, financial aid, etc.) that allows more individuals to complete their degrees. </span></p> <p><span style="font-weight: 400;">Another influential factor is the increasing home value that locks out lower-income individuals. After all, higher education correlates with higher income, making it easier for degree-holding individuals to buy homes than their counterparts who only have a high school diploma (or less). </span></p> <p>&nbsp;</p> <h2><b>Factors influencing the trend </b></h2> <p><span style="font-weight: 400;">Below is the list of factors that explain the rising number of degree-holding homeowners in the US. </span></p> <h3><b>Education levels are rising</b></h3> <p><span style="font-weight: 400;">In recent years, overall education levels have been rising due to multiple factors, such as improved access to education thanks to the proliferation of distance learning platforms. In fact, between 2010 and 2020, the number of Americans with bachelor&#8217;s degrees and higher increased from 28% to 33%. </span></p> <p><span style="font-weight: 400;">Pundits expect that the level of education will continue increasing in the coming years as more high school graduates go to college and the percentage of the population who grew up in a period where a college education was not sought after is shrinking. </span></p> <h3><b>Higher education translates to higher income </b></h3> <p><span style="font-weight: 400;">Individuals with a bachelor&#8217;s degree earn more than double than someone without a high school diploma, with a medium income of $56,150 and $25,350, respectively. It should be noted that higher income generally translates to better credit and more access to favorable mortgage rates. </span></p> <h3><b>Shrinking opportunities in manufacturing and other industries</b></h3> <p><span style="font-weight: 400;">In the past, workers had more access to higher-paying jobs in manufacturing and other industries. But over the years, the opportunities to earn decent living wages among individuals who lack a high school diploma have been continuously decreasing, and so this demographic finds it more challenging to become homeowners. </span></p> <p><span style="font-weight: 400;">Many higher paying jobs that only required a high school diploma have either disappeared or are now demanding some type of post-high school credentials. </span></p> <h3><b>Rising home values</b></h3> <p><span style="font-weight: 400;">US house prices have been continuously rising over the past years, with experts even predicting that these are set to increase by 10% this year (</span><a href="https://www.reuters.com/business/us-house-prices-rise-another-10-this-year-2022-03-02/"><span style="font-weight: 400;">Reuters report</span></a><span style="font-weight: 400;">). And in some areas, home values are hitting high records due to the compounded effects of the pandemic and the small increase in the number of housing units which doesn&#8217;t compensate for the growing population.</span></p> <p><span style="font-weight: 400;">The squeeze of low inventory is apparent in the Bay Area where the median prices of single-family homes increased 21.7% from 2021, driving their value to $1.25 million, according to data released by CoreLogic and DQNews. (</span><a href="https://www.mercurynews.com/2022/05/09/economic-shocks-yet-to-strike-bay-area-home-prices/"><span style="font-weight: 400;">The Mercury News report</span></a><span style="font-weight: 400;">)</span></p> <p><span style="font-weight: 400;">And since higher education generally translates to higher income, it&#8217;s not surprising that people with college degrees and higher are more likely to become homeowners than individuals with just a high school diploma or less. </span></p> <p>&nbsp;</p> <h2><b>Professionals with the highest home ownership rates</b></h2> <p><span style="font-weight: 400;">It&#8217;s not just the level of education that affects home ownership but also the profession. For instance, people in health and education are more likely to own a home compared to IT professionals whose job doesn&#8217;t necessarily require them to settle down. </span></p> <p><span style="font-weight: 400;">Some industries and professions offer remote work, a trend that is increasingly becoming more common due to the Covid-19 pandemic. Now, this arrangement has become the norm for most businesses, with experts suggesting that by 2025, around 70% of the US workforce will be telecommuting at least five days a month. </span></p> <p><span style="font-weight: 400;">On the other hand, some professions inhibit relocation and require more home stability. This might explain why individuals with degrees in education and healthcare are more likely to own a home compared to IT professionals, freelance writers, and other professions wherein remote work is the norm. </span></p> <p><span style="font-weight: 400;">According to recent US Census data, around 82% of people with a first degree in education own their homes, followed by professionals with industry and technology specialization, with 81% of them owning their house, and those with agriculture-related degrees with 80% home ownership. </span></p> <p><span style="font-weight: 400;">By contrast, only 67% of IT and communication and mass media graduates live in their own homes, followed by a 66% home ownership rate among art degree holders. These professionals are known as digital nomads who may prefer to rent.  </span></p> <p>&nbsp;</p> <h2><b>Importance of working with a client-focused real estate professional</b></h2> <p><span style="font-weight: 400;">Working with a skilled and </span><a href="https://talktocj.com/about/"><span style="font-weight: 400;">client-focused real estate professional</span></a><span style="font-weight: 400;"> can make the home buying process less stressful, quicker, and more successful because they will help you get your timing down and create a game; plan so you can meet your goals and stay within your budget. </span></p> <p><span style="font-weight: 400;">A skilled real estate broker can also give valuable advice to help you secure a mortgage; these include getting your finances in order and obtaining pre-approval from a lender. </span></p> <p><span style="font-weight: 400;">If you ever need a client-focused real estate professional with in-depth knowledge of the housing market in San Jose and the Greater Bay Area, contact me today at </span><a href="mailto:CJ@TalkToCJ.com"><b>CJ@TalkToCJ.com</b></a><span style="font-weight: 400;"> or call/text</span><b> (408) 406-6035</b><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">I am a Certified Real Estate Specialist (CRS) with several niche specializations, such as residential sales for divorcing customers and energy efficiency and sustainability issues in real estate (NAR&#8217;s Green Designation). I also hold certifications from the Graduate Realtor Institute (GRI), Seniors Realtor Estate Specialist (SRES), and Certified International Property Specialist (CIPS). Read more about it </span><a href="https://talktocj.com/about/"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">Resources: </span><a href="https://talktocj.com/sell/"><b>Sell with CJ</b></a><span style="font-weight: 400;"> | </span><a href="https://talktocj.com/buy/"><b>Buy with CJ</b></a></p> <p>The post <a rel="nofollow" href="https://talktocj.com/degree-holding-individuals-make-up-70-of-home-ownership/">Degree-Holding Individuals Make Up 70% of Home Ownership</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Staging Hacks to Make your Home Feel More Luxurious https://talktocj.com/staging-hacks/ Talk to CJ urn:uuid:31c7f56c-0c24-f9ca-2361-bfca8c35dafa Thu, 26 May 2022 19:07:24 -0400 <p>The use of Luxury Home Staging Techniques is a surefire way to sell your home quickly at a maximum price. Remember, the main goal is to allow potential buyers to envision their lives in the house, giving them an emotional attachment to it. Hence, make sure that you showcase its best features and opt for [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/staging-hacks/">Staging Hacks to Make your Home Feel More Luxurious</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><span style="font-weight: 400;">The use of <strong>Luxury Home Staging Techniques</strong> is a surefire way to sell your home quickly at a maximum price. Remember, the main goal is to allow potential buyers to envision their lives in the house, giving them an emotional attachment to it. Hence, make sure that you showcase its best features and opt for designs that appeal to a broad range of buyers. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Check out our list of <strong>High-End Home Staging Tips</strong> that prove to be a worthwhile investment. </span></p> <p>&nbsp;</p> <h2><strong>Stick to the Basics </strong></h2> <p><span style="font-weight: 400;">Decluttering, removing eccentric and personal items, and throwing out trash can go a long way in making your home not just luxurious but also welcoming and cozy. The same is true for these simple hacks below: </span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Hanging white towels in the bathroom</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Arranging the bed with white bedding</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Replacing worn-out cabinet hardware</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ensuring good lighting to emphasize the home’s best features </span></li> </ul> <p>&nbsp;</p> <h2><strong>Emphasize the Lifestyle You’re Selling</strong></h2> <p><span style="font-weight: 400;">When selling a cookie-cutter home, most decorators use furniture as the focal point. However, this rule does not apply if you’re dealing with a luxury home in which the buyers are generally concerned with how the home makes it convenient to live the lifestyle they want. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">For instance, a house surrounded by mountains should take advantage of the pristine nature and its view and should ideally come with a foyer where people can store their hiking equipment, boots, walking shoes, and other things. Or if your home is made for entertaining a large crowd, it&#8217;s best that you emphasize the sprawling patio or the open-floor plan where there is a smooth flow between the kitchen and dining area.</span></p> <p>&nbsp;</p> <h2><strong>Opt for Neutral </strong></h2> <p><span style="font-weight: 400;">Opting for neutral elements ensures that your home appeals to a broader range of buyers. A good rule of thumb is to use white or any subdued wall color, avoid very unique and personal accents and upgrades (e.g., a grand sofa with an animal print), and be cautious when using unexpected design pieces. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Some people think that going neutral means “cold” and “boring design.” However, this is far from the truth if you create interest with a mix of textures by combining warm materials such as wood and fabric with cold materials like metal, glass, and stonework; use clever and unusual design pieces; and make the most of the natural light. </span></p> <p>&nbsp;</p> <h2><strong>Lean More Toward Minimalism </strong></h2> <p><span style="font-weight: 400;">With a minimalist design, your luxury home can easily adapt to trends and new occupants. To achieve this style, invest in clever storage, prioritize functionality above all else, choose quality over quantity, and take advantage of the natural light to create a warm and cheerful ambiance. </span></p> <p>&nbsp;</p> <h2><strong>Reflect Your Home’s Setting</strong></h2> <p><span style="font-weight: 400;">If the home is in the Greater Bay area and just minutes away from the beach, it should feel like an extension of the coastline, or if it’s in the mountains, it should take advantage of the picturesque view by installing large windows. Additionally, the furniture and decor must be consistent with the home’s setting and climate. </span></p> <p>&nbsp;</p> <h2><strong>Staging A Luxury Home To Wow Buyers</strong></h2> <p><span style="font-weight: 400;">Luxury Home Staging appeals to a broad range of buyers looking for properties in the San Jose &amp; Greater Bay Area. However, the success of home selling not only boils down to design and features but also to your game plan. For this reason, it’s a must that you work with a reputable real estate broker who knows the local market.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">For nearly 20 years, I have been presenting homes on behalf of </span><span style="font-weight: 400;">homeowners</span><span style="font-weight: 400;"> across the San Francisco Bay Area and staging is absolutely key to obtaining the highest and best offer. Highlighting key features, demonstrating a lifestyle, really help potential buyers see more value than the simple statistics of  number of bedrooms, baths, and square footage. If you are thinking about selling your home and want to discuss strategies for how to market your home in the best way, call me. <a href="https://talktocj.com/meet/" target="_blank" rel="noopener">Let’s talk about what’s important to you</a>. I look forward to the opportunity to work with you.</span></p> <p>The post <a rel="nofollow" href="https://talktocj.com/staging-hacks/">Staging Hacks to Make your Home Feel More Luxurious</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Florida Hometown Heroes Housing Program Launched https://www.dwellingwell.com/blog/florida-hometown-heroes-housing-program-launched/ Sarasota Real Estate News & Blog urn:uuid:42dc97a7-0bd7-9beb-cb66-7354bc19f6b4 Thu, 26 May 2022 14:55:57 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/FHFC-Hometown-heroes.jpg" width="600" height="250" alt="Florida Hometown Housing Program" title="Florida Hometown Housing Program" style="float: right;" />Governor Ron DeSantis announced the June 1 launch of the Florida Hometown Heroes Housing Program to help Floridians in over 50 critical professions purchase their first home. The Hometown Heroes Housing Program will be available to Floridians including law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans. Including this $100 million program, the Governor also announced his intent to support the total of nearly $363 million appropriated for affordable and workforce housing in the 2022-2023 budget, the highest total in 15 years. The program is administered by the Florida Housing and Finance Corporation (Florida Housing) and has the highest and most inclusive eligibility of all Florida Housing down payment assistance programs. The program is geared to expanding on Florida&rsquo;s existing housing programs to reach critical workers and those who have served our country.&nbsp;<a aria-label="Find more about the program here" href="https://www.floridahousing.org/programs/homebuyer-overview-page/hometown-heroes" title="Find more about the program here">Find more about the program here</a>. &ldquo;In Florida, we value the contributions of our police, firefighters, teachers, and nurses,&rdquo;&nbsp;said Governor Ron DeSantis.&nbsp;&ldquo;Our hometown heroes are the backbone of Florida communities and making sure that they can afford to be homeowners is a great way to give back to them and support the future of the American Dream.&rdquo; &ldquo;Florida Housing is extremely grateful to those who have remained committed to serving their communities, especially during these challenging financial times,&rdquo;&nbsp;said Trey Price, Executive Director of Florida Housing Finance Corporation. &ldquo;Hometown Heroes will provide the financial assistance necessary to help these hardworking individuals finally achieve the American Dream of homeownership, and we look forward to the positive impacts this accomplishment will have on so many Florida families.&rdquo; &ldquo;DEO is proud to stand beside Governor DeSantis as he prioritizes our state&rsquo;s vital workers, including our first responders, nurses, and teachers,&rdquo;&nbsp;said DEO Secretary Dane Eagle. &ldquo;These men and women are heroes who ensure our communities&rsquo; crucial needs are met, and we are grateful to take part in this initiative to show our gratitude.&rdquo; &ldquo;Recently I started looking to buy a house. With the help of my realtor and loan officer, there was so much that I didn&rsquo;t know about and they were able to help me and guide me,&rdquo;&nbsp;said Officer Ashton Wolfe, Cape Coral Police Department. &ldquo;I joined the military when I was 18. I was stationed in Washington, and when I left the military I came back to Cape Coral to serve my community as a police officer. The program Salute Our Soldiers, which is becoming the Hometown Heroes program, allowed me to buy a house at the age of 23 and I am the only 23-year-old I know that is buying a home, so it has done great things for me.&rdquo; &ldquo;I have been a teacher for 25 years,&rdquo;&nbsp;said Melba Lugo, Second Grade Teacher, Mid Cape Global Academy.&nbsp;&ldquo;In one day, I changed cities, I changed jobs and I bought a house. Thank you for this program and I want to thank all of these people that have made this possible. Owning a house seemed like such a distant, far away dream. I am 63 and at this age you are supposed to be paying off your mortgage, but everything is good and beautiful when you walk in God&rsquo;s time.&rdquo; Florida Housing received $100 million from the state Legislature this year to establish and administer the Florida Hometown Heroes Housing Program. This program will aid essential community workers in 50 different eligible professions with down payment and closing cost assistance to help first-time, income-qualified homebuyers purchase a primary residence in the communities they serve. Funds will be available to reserve starting June 1, which coincides with National Homeownership Month. This occasion celebrates the value that owning a home brings to families, communities, and neighborhoods across America. To qualify for this program, homebuyers must connect with a participating loan officer, have a minimum credit score of 640, provide certification for one of the eligible occupations, and meet the income threshold for their county. Eligible borrowers will receive up to 5% of the first mortgage loan amount (up to a maximum of $25,000) in down payment and closing cost assistance in the form of a 0%, non-amortizing, 30-year deferred second mortgage. For more information, please visit&nbsp;<a aria-label="www.floridahousing.org/hometownheroes" href="https://www.floridahousing.org/hometownheroes" title="www.floridahousing.org/hometownheroes">www.floridahousing.org/hometownheroes</a>. Florida lawmakers pass new condo safety legislation a year after Surfside disaster https://www.dwellingwell.com/blog/florida-lawmakers-pass-new-condo-safety-legislation-a-year-after-surfside-disaster/ Sarasota Real Estate News & Blog urn:uuid:fc2e8cdc-dfc3-3329-c74b-fbc4c22f5ab0 Thu, 26 May 2022 14:31:26 -0400 While the investigation into the exact cause of the Surfside condominium collapse continues, documents released by the City of Surfside revealed the warning signs for the beachfront Champlain Towers South condo disaster that ensued.<img src="https://assets.site-static.com/userfiles/3190/image/Surfside2.jpg" width="600" height="400" alt="Surfside Condo" title="Surfside Condo" /> 11 months after the tragic collapse of the Surfside condos that killed 98 people in the middle of the night, lawmakers in Florida in both chambers passed new safety legislation that set statewide standards for more frequent inspections and which requires condo boards to set aside money for critical repairs. This new legislation will affect condo projects that are 25 years old and older and any that are over 3 stories will require a structural inspection and structural reserve study and the reserves can no longer be partially funded. The bill, now headed to Governor Ron DeSantis&rsquo; desk which is expected to be signed, requires a test to find out if a condo building is structurally sound if an engineer or architect spots signs of deterioration during an initial inspection. These tests are not inexpensive either. Just a plain reserve study can be $6,000-$8,000 and for a structural integrity reserve study plus inspections by engineers, a study could wind up being tens of thousands. If the condo board then does not follow the report&rsquo;s recommendations for funding and repairs, the board members could be held liable. As a Realtor, I believe we can expect to see large increases in condo fees and special assessments coming for condo homeowners in older condominium buildings. The new legislation would require buildings that are three stories or higher to receive an inspection after 30 years and calls for an inspection every 10 years after that to make sure they are properly funded for repairs. &nbsp;The rule changes when a building is within 3 miles of a coastline. In that case, the inspections begin once the building reaches 25 years of age. The bill was designed to protect owners. Starting in 2025, condo associations will be required to collect money for reserves to make structural repairs. &ldquo;I can understand that concern that owners would have pay additional moneys when they&rsquo;re already spread so thin,&rdquo; Attorney Alicia Seward said of the new legislation. She represents a dozen condo associations in three Bay Area counties. She pointed out it will likely be harder for older condo owners on fixed incomes to contribute to reserve funds, but still she added it&rsquo;s important for protecting a major investment. &ldquo;Purchasing a condo or any property is a huge investment, spending hundreds of thousands of dollars and you don&rsquo;t want to see that just gone in a day,&rdquo; Seward said. Toledo said local building officials will keep track of the inspection records. Valley Fair: A Luxury Shopping Center in San José and Santa Clara https://talktocj.com/valley-fair-a-luxury-shopping-center-in-san-jose-and-santa-clara/ Talk to CJ urn:uuid:590b0251-8626-3c00-bb3c-4ea0840ca84d Mon, 23 May 2022 21:55:24 -0400 <p>Living in San José and Santa Clara offers several benefits, such as an easy commute to other parts of the town, better access to amenities and recreational areas, excellent ROI–and arguably the most notable of all–proximity to a high-end mall that offers a unique shopping experience.  While the two cities have been known as tech [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/valley-fair-a-luxury-shopping-center-in-san-jose-and-santa-clara/">Valley Fair: A Luxury Shopping Center in San José and Santa Clara</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><span style="font-weight: 400;">Living in San José and Santa Clara offers several benefits, such as an easy commute to other parts of the town, better access to amenities and recreational areas, excellent ROI–and arguably the most notable of all–proximity to a high-end mall that offers a unique shopping experience. </span></p> <p><span style="font-weight: 400;">While the two cities have been known as tech hubs (being part of California&#8217;s Silicon Valley), over the recent years, they are also growing in popularity as luxury shopping destinations after a $1.1 billion worth expansion to Valley Fair that began in 2020.</span></p> <p><span style="font-weight: 400;">Currently, the high-end mixed-use mall spans more than 2.5 million square feet with around 360 storefronts and still growing. </span></p> <p>&nbsp;</p> <h2><b>What makes Valley Fair a unique shopping destination? </b></h2> <p><span style="font-weight: 400;">Since the mall sits on the border of San Jose and Santa Clara–two cities that thousands of tech companies and startups call home–it&#8217;s quite fitting that its recent expansion has included the so-called &#8220;Digital District,&#8221; which houses small retailers and former &#8220;online-only&#8221; businesses.</span></p> <p><span style="font-weight: 400;">A two-story flagship Apple store now also calls Valley Fair it&#8217;s new home, along with online retailers that need brick-and-mortar locations. </span></p> <p>&nbsp;</p> <h2><b>Bringing in the art and culture</b></h2> <p><span style="font-weight: 400;">The luxury shopping center houses not only up-and-coming online retailers but also upscale restaurants and designer boutiques like Louis Vuitton, Cartier, Tiffany &amp; Co., Bvlgari, Breitling, Prada, and Gucci. However, the most notable recent development is the &#8220;borderless museum,&#8221; in which the mall operator partners with the San José Museum of Art.</span></p> <p><span style="font-weight: 400;">Thanks to the said partnership, Valley Fair can display curated and commissioned artwork like paintings and sculptures along Stevens Creek Boulevard. </span></p> <p><span style="font-weight: 400;">Aside from curated art pieces, shoppers can also appreciate the grand mural covering the second story of a building that abuts the alfresco dining area. Staying true to Silicon Valley’s vibe, the graphic artwork depicts &#8220;the technology’s influence in Santa Clara and San José’s landscape.” </span></p> <p><span style="font-weight: 400;">Another unique centerpiece in the Valley Fair Mall is the &#8220;burning water fountain&#8221; that shoots out flames. </span></p> <p>&nbsp;</p> <h2><b>Food destination and marketplace </b></h2> <p><span style="font-weight: 400;">Eataly Silicon Valley is another notable addition to Valley Fair&#8217;s growing list of upscale storefronts. As the world&#8217;s largest artisanal Italian food and beverage marketplace, its Bay Area branch is slated to open its door for the first time on June 16 at 5 pm. </span></p> <p><span style="font-weight: 400;">The 45,000 square foot, three-story Italian food lover&#8217;s hub will house family-friendly restaurants, artisanal cheese and pasta, imported wines, fresh produce managed by professional butchers and fishmongers, and even a cooking school. </span></p> <p><span style="font-weight: 400;">Link: </span><a href="https://www.sfgate.com/food/article/Eataly-heads-to-Bay-Area-17084556.php"><span style="font-weight: 400;">https://www.sfgate.com/food/article/Eataly-heads-to-Bay-Area-17084556.php</span></a></p> <p>&nbsp;</p> <h2><strong>Fine dining, fire fountains and a ‘digital district’ in Valley Fair</strong></h2> <p><span style="font-weight: 400;">While Santa Clara and San José are part of Silicon Valley technology circle , don&#8217;t be surprised also to find wonderful tree-lined streets with great  family-friendly neighborhoods that are close to playgrounds, parks, and schools. </span></p> <p><span style="font-weight: 400;">If you are thinking about buying a home in San Jose, or surrounding areas and want to <a href="https://talktocj.com/meet/" target="_blank" rel="noopener"><em>talk about the opportunities</em></a> there are, give me a call.  <a href="https://talktocj.com/meet/" target="_blank" rel="noopener"><em>Let’s meet up</em></a> at Eataly or one of the great spots at the new Valley Fair food corridor and talk about what is important to you. I look forward to the opportunity to work for you.</span></p> <p>The post <a rel="nofollow" href="https://talktocj.com/valley-fair-a-luxury-shopping-center-in-san-jose-and-santa-clara/">Valley Fair: A Luxury Shopping Center in San José and Santa Clara</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Sarasota Once Again Named One of the Best Places to Live in the U.S. https://www.dwellingwell.com/blog/sarasota-once-again-named-one-of-the-best-places-to-live-in-the-us/ Sarasota Real Estate News & Blog urn:uuid:e364d63d-0657-62a4-76c6-798b70af3ba4 Mon, 23 May 2022 14:47:08 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/siesta_key/Terrace3.jpg" width="300" height="200" alt="Siesta Key, Florida" title="Siesta Key, Florida" style="float: right;" />With its world-renowned beaches and vibrant arts community, it comes as no surprise that Sarasota&nbsp;<a target="_blank" href="https://realestate.usnews.com/places/rankings/best-places-to-live">has earned a top spot in a new listing of the top places to live in the U.S. created by&nbsp;U.S. News &amp; World Report</a>. The ranking is based on data drawn from a nationwide survey that measures a city&rsquo;s desirability, quality of life, job market and overall value. Described as a place with both &ldquo;unique charm,&rdquo; Sarasota was recognized for offering residents a chance to enjoy both&nbsp;<a href="https://www.sarasotamagazine.com/articles/best-restaurants-sarasota" data-entity-class="Article" data-entity-id="24793" data-entity-method="link" data-entity-type="content">fine dining</a>&nbsp;and fancy resorts, as well as more intimate settings near the Gulf and famous&nbsp;<a href="https://www.sarasotamagazine.com/articles/st-armands-circle-adds-new-merchants" data-entity-class="Article" data-entity-id="30263" data-entity-method="link" data-entity-type="content">St. Armands Circle</a>&nbsp;and Siesta Key Village. To identify the best places to retire, U.S. News analyzed data for the 150 largest metropolitan areas in the U.S. to assess how well they meet Americans' retirement needs and expectations. Top criteria include the happiness of local residents, housing affordability, tax rates and health care quality.&nbsp;For more information on how we rank, read the&nbsp;<a href="https://realestate.usnews.com/places/methodology" class="Anchor-byh49a-0 jmIZd">Best Places to&nbsp;Retire&nbsp;methodology.</a> The article also covered the stereotype of the city as &ldquo;a playground for retirees,&rdquo; but recently Sarasota has seen itself welcoming more and more young residents and entrepreneurs. Sarasota Mayor Erik Arroyo says he is ecstatic about the honor and says he is &ldquo;laser-focused&rdquo; on climbing the ranking to the top spot next year. &ldquo;With our dedicated city staff and engaged residents who are constantly seeking ways to shape and improve the quality of life in Sarasota, we&rsquo;ve achieved these impressive rankings by&nbsp;U.S. News &amp; World Report,&rdquo; Arroyo says. &ldquo;Lowering property taxes, implementing new policies to address affordable housing, introducing micro-mobility options to help reduce stress and traffic congestion, investing in water quality, replacing an aging utility system and moving toward environmental resiliency are among the thoughtful, intentional actions taken that have shaped Sarasota into the desirable community it is today.&rdquo; Of course, this is only one of several awards Sarasota has won over the last few years. Just this year, the city has also been named No. 1 &ldquo;Best Place to Retire,&rdquo; No. 1 &ldquo;Best Place to Live in Florida,&rdquo; No. 3 &ldquo;Fastest Growing Places in the U.S.,&rdquo; No. 7 Safest Places to Live in the U.S.&rdquo; and No. 19 &ldquo;Best Quality of Life in the U.S.&rdquo; The&nbsp;U.S. News&nbsp;ranking does point to the city&rsquo;s rising cost of living&mdash;in particular,&nbsp;<a href="https://www.sarasotamagazine.com/articles/median-price-home-sarasota-mantee-half-million-april-2022" data-entity-class="Article" data-entity-id="30619" data-entity-method="link" data-entity-type="content">expensive housing</a>&mdash;as something that may concern&nbsp;prospective residents and young families looking to settle down here. Housing costs have risen 37 percent year over year, according to&nbsp;<a target="_blank" href="https://barancikfoundation.org/wp-content/uploads/2022/03/Affordable-Housing-Report-Handout.pdf">a report&nbsp;published by the Charles &amp; Margery Barancik Foundation and the Gulf Coast Community Foundation</a>. The city commission&nbsp;on Monday&nbsp;approved some measures to encourage&nbsp;affordable housing, but it will take some time before results can be measured. Sarasota City Commissioner Hagen Brody&nbsp;calls&nbsp;the new measures&nbsp;&ldquo;robust&rdquo; and &ldquo;meaningful,&rdquo; adding that redevelopment projects will also likely lead to a more environmentally sustainable community. He says that while national recognition like that delivered by&nbsp;U.S. News &amp; World Report&nbsp;is appreciated, focus needs to turn to locals who want to live closer to their place of work in the city. &ldquo;It boils down to whether Sarasota&rsquo;s future is a vibrant and inclusive one that values everyone&rsquo;s quality of life or one that continues down the problematic path of exclusion,&rdquo; says Brody. &ldquo;With these changes, we&rsquo;re choosing inclusion.&rdquo; <a href="https://realestate.usnews.com/places/rankings/best-places-to-retire?sort=overall&amp;high_to_low=true">Best Places to Retire in the U.S. in 2021-2022</a> <a href="https://www.sarasotamagazine.com/news-and-profiles/sarasota-best-places-to-live">Sarasota Magazine</a> Just How Expensive is Sarasota? https://www.dwellingwell.com/blog/just-how-expensive-is-sarasota/ Sarasota Real Estate News & Blog urn:uuid:bfddb3fa-7490-9c92-39eb-3f57a7227a38 Mon, 23 May 2022 11:36:13 -0400 Below are April 2022 market sales activity of single-family homes for Florida's metropolitan statistical areas. As you can see the single-family homes in North Port-Sarasota-Manatee metropolitan area is $500,000 as of April 2022. This is 26.6% increase from April 2021.&nbsp; There are only two Florida MSA's with higher median home prices than Sarasota. Those are Miami-Ft. Lauderdale-West Palm Beach&nbsp;at $575,000 and Naples-Immokalee-Marco Island at $875,625. <img src="https://assets.site-static.com/userfiles/3190/image/MSA_April_2022.png" width="608" height="786" /> <img src="https://assets.site-static.com/userfiles/3190/image/MSA_April_2022_Condos.png" width="610" height="790" /> Below are real estate stats for Sarasota county. The single-family median sales price for April 2022 is $482,803. Keep in mind that this figure includes sales in North Port which is a less expensive area than the north part of the county. <img src="https://assets.site-static.com/userfiles/3190/image/Sarasota_April_2022.png" width="651" height="843" /> Manatee county 2022 single-family home statistics are below. The median home price is $515,000, which is 27.2% increase with in the last 12 months.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/Manatee_2022.png" width="650" height="842" /> PODS Names Sarasota Top Location for Moves in United States https://www.dwellingwell.com/blog/pods-names-sarasota-top-location-for-moves-in-united-states/ Sarasota Real Estate News & Blog urn:uuid:7132e972-398b-69ea-71c3-c7e2e857dee5 Fri, 29 Apr 2022 15:18:30 -0400 National moving company&nbsp;<a href="https://www.pods.com/" target="_blank" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">PODS</a>&nbsp;has put Sarasota at the top of its rating of the country's most desirable locations. Sarasota had the highest ratio of move-ins verses move-outs of PODS customers from January 2021 to March 2022, beating out Dallas-Fort Worth, Nashville and Tampa, according to a news release on the PODS data. "Sarasota, Florida, saw the highest number of move-ins during 2021 and, so far, in 2022. Growth in this southwestern Floridian city was enough to bump it up from fifth to first place on this year&rsquo;s list of Top 20 Growing Cities in the U.S.," the report said. The Herald-Tribune has been reporting for months on Sarasota's red hot housing market, in which&nbsp;housing values have shot up by about 30%&nbsp;and&nbsp;rent prices have increased faster&nbsp;than anywhere in the country, according to national reports. California spots among areas that had more customer&nbsp;move-outs The most recent moving analysis by PODS showed that areas that had more customer&nbsp;move-outs&nbsp;compared to move-ins were in high-cost markets, largely in California. "California is home to three of the top 10 cities with the highest exodus of residents in 2021 and so far in 2022. In fact, the top two spots on the list are both in California &mdash; and, together, sport a total loss that&rsquo;s nearly equal to the loss from the eight other cities on the list combined," the PODS report said. The two California cities with the highest number of move-outs were&nbsp;Los Angeles and the San Francisco region.&nbsp; Other locations mentioned as areas where more people moved from than moved to were: Chicago, Long Island, Seattle and Washington, D.C. While PODS data represents a fraction of the total moves that occurred over the time period, Sarasota was also recently included in the Wall Street Journal's top emerging markets. That list was determined by analyzing Realtor.com&nbsp;"key housing market data, as well as economic vitality and lifestyle metrics, to surface emerging housing markets that offer a high quality of life and are expected to see future home price appreciation." The North Port-Sarasota-Bradenton metro area was ranked as the number three emerging housing market in that Wall Street Journal/Realtor.com report behind Rapid City, South Dakota, and Santa Cruz-Watsonville, California, and ahead of Santa Rosa, California, and Naples-Marco Island, Florida. 1. Sarasota&nbsp;(5th in 2021)<br />2. Dallas-Fort Worth, TX<br />3. Nashville, TN<br />4. Tampa Bay<br />5. Ocala&nbsp;(12th in 2021)<br />6. Myrtle Beach, SC/Wilmington, NC&nbsp;(7th in 2021)<br />7. Knoxville, TN&nbsp;(3rd in 2021)<br />8. Atlanta, GA<br />9. Orlando<br />10. Phoenix, AZ<br />11. Jacksonville&nbsp;(17th in 2021)<br />12. Houston, TX<br />13. San Antonio, TX<br />14. Greenville-Spartanburg, SC&nbsp;(11th in 2021)<br />15. Melbourne (16th in 2021)<br />16. Austin, TX<br />17. Asheville, NC&nbsp;(6th in 2021)<br />18. Charlotte, NC<br />19. Boise, ID&nbsp;(1st in 2021)<br />20. Portland, ME&nbsp;(9th in 2021) <a href="https://www.heraldtribune.com/story/business/2022/04/28/sarasota-ranks-number-one-moves-2021-pods-says/9552748002/">Sarasota Herald Article</a> Median Sales Price Tops $500,000 in Sarasota Metro Area https://www.dwellingwell.com/blog/sarasota-metro-set-a-record-in-march-with-median-home-sales-price-of-500000/ Sarasota Real Estate News & Blog urn:uuid:849d0acb-3bf1-e4e2-187a-d4f1c841d53d Fri, 22 Apr 2022 11:54:11 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/Area_Photos/LidoKeyRealEstate.jpg" width="400" height="267" alt="Sarasota median home prices tops $500,000" title="Sarasota median home prices tops $500,000" style="float: right;" />The median sales price for a single- family home in the North Port-Sarasota-Bradenton metro area has been broken once again, according to the Realtor Association of Sarasota and Manatee. Last month, the median single-family home sold in the two-county area for $500,000 &mdash; the first time the median sales price has reached half a million dollars. Last May was the first time the median sales price broke $400,000 in Sarasota County at $407,000, according to RASM data. The residential real estate market has&nbsp;been on fire for awhile now, with the median number of days on market hovering around a week since the middle of last year. Realtors have been reporting for months that accurately priced properties in good neighborhoods receive multiple offers, often above list price. The RASM report noted other sales figures were also up compared to the previous month. &ldquo;Between February and March of this year, there was a month-over-month increase in closed sales, pending sales, new listings, and inventory; indicating more activity in our market,&rdquo; Tony Veldkamp, 2022 RASM president said.&nbsp;&ldquo;Notably, the median sale price for single-family homes has reached a new threshold that may be out of reach for many buyers looking to enter the market; especially as interest rates continue to increase." Sarasota County had a slightly lower median sales price than the metro's median. In March, the median Sarasota County single-family home sold for $487,500. The Manatee County single-family median sales last month came in at $525,000. Inventory of homes for sale continues to be at or near historic lows, although, the Realtor association said that Sarasota County had more homes enter the market than the previous year, a first since at least June 2019. &ldquo;The single-family home market is showing a positive change in new listings when compared to last year. If new listings continue to outpace the total number of sales each month, inventory will start to level off,&rdquo; Veldkamp said, who's also a senior advisor at SVN Commercial Advisory Group. &ldquo;In Sarasota County, inventory for single-family homes shows the first positive year-over-year increase since June of 2019. We&rsquo;ll be watching to see if this is another initial sign of the market beginning to stabilize.&rdquo; January 2022 Sarasota/Manatee Real Estate Market Recap https://www.dwellingwell.com/blog/january-2022-sarasotamanatee-real-estate-market-recap/ Sarasota Real Estate News & Blog urn:uuid:c1237a1a-2bfc-1a09-6f6a-7668ed1722a9 Wed, 23 Feb 2022 14:44:39 -0500 Below you will find important real estate market statistics for the&nbsp;<a href="https://www.dwellingwell.com/sarasota/homes-for-sale/" data-uw-styling-context="true" data-uw-rm-brl="false">Sarasota</a>&nbsp;and&nbsp;<a href="https://www.dwellingwell.com/bradenton/real-estate/" data-uw-styling-context="true" data-uw-rm-brl="false">Bradenton</a><a href="https://www.dwellingwell.com/st-petersburg/clearwater-real-estate/" data-uw-styling-context="true" data-uw-rm-brl="false">,</a>&nbsp;FL real estate market for January 2022. Statistics include changes in average and median sales prices, average days on market, number of properties sold, etc.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Monthly_Market_Report.png" width="13200" height="10200" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Monthly_Market_Report2.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Monthly_Market_Report3_1.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report4.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Monthly_Market_Report6.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Monthly_Market_Report7.png" width="1650" height="1275" /> January 2022 St. Pete and Tampa Real Estate Market Recap https://www.dwellingwell.com/blog/january-2022-st-pete-and-tampa-real-estate-market-recap/ Sarasota Real Estate News & Blog urn:uuid:f976b051-69f4-3cb1-1eba-b791555972cb Wed, 23 Feb 2022 12:55:24 -0500 Below you will find important real estate market statistics for the&nbsp;<a href="https://www.dwellingwell.com/st-petersburg/real-estate/" data-uw-styling-context="true" data-uw-rm-brl="false">St. Petersburg</a>,&nbsp;<a href="https://www.dwellingwell.com/tampa/real-estate/" data-uw-styling-context="true" data-uw-rm-brl="false">Tampa</a>&nbsp;and&nbsp;<a href="https://www.dwellingwell.com/st-petersburg/clearwater-real-estate/" data-uw-styling-context="true" data-uw-rm-brl="false">Clearwater,</a>&nbsp;FL real estate market for January 2022. Statistics include changes in average and median sales prices, average days on market, number of properties sold, etc.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_.png" width="13200" height="10200" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_2.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_3.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_4.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_5.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_6.png" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_Monthly_Market_Report_7.png" width="1650" height="1275" /> Sarasota vs Ft. Myers https://www.dwellingwell.com/blog/sarasota-vs-ft-myers/ Sarasota Real Estate News & Blog urn:uuid:0548abc6-ec57-8177-30c0-aa8461b93712 Mon, 21 Feb 2022 10:31:32 -0500 arasota vs Ft. Myers When buyers come searching for property on the Southwest Coast of Florida they already know they can expect crystal turquoise waters with beautiful sandy beaches and stunning sunsets. Along side these Gulf coast "standard features", the research begins in finding the perfect waterfront city to call home. Another big Gulf coast city we receive lots of inquiries about is Ft. Myers. As our other blog posts have showcased, Sarasota vs St. Pete and Sarasota vs Naples, each Gulf coast city offers something a little different and warrants a bit of investigating to determine which city is right for you. Demographics of Sarasota &amp; St. Pete add text here &nbsp; &nbsp; Sarasota City(Sarasota county)&nbsp; Ft. Myers&nbsp;City&nbsp;(Lee county)&nbsp; 2018 City Population Estimate&nbsp; &nbsp; &nbsp;57,738 &nbsp;82,254 2018 County Population Estimate &nbsp; &nbsp;426,718 &nbsp;754,610 Mar. 2016 cost of living index for county (U.S. average is 100) &nbsp; &nbsp;&nbsp; &nbsp;96.9 &nbsp;94.3 White Non-Hispanic &nbsp; &nbsp;83.3% &nbsp;67.5% Black Non-Hispanic &nbsp; &nbsp;4.8% &nbsp;9.1% Hispanic or Latino &nbsp; &nbsp;9.1% &nbsp;21.2% Median Resident Age &nbsp; &nbsp;47.4 &nbsp;44.7 Median value of owner-occupied housing units, 2013-2017&nbsp; &nbsp; &nbsp;$215,300 &nbsp;$190,200 Median household income 2013-2017 &nbsp; &nbsp;$55,236 &nbsp;$52,052 Land area in square miles (city) &nbsp; &nbsp;14.9 &nbsp;31.8 Percentage of&nbsp;persons living in poverty &nbsp; &nbsp;9.2% &nbsp;11.8% &nbsp;Sources: <a href="https://www.census.gov/quickfacts/fact/table/leecountyflorida,fortmyerscityflorida,sarasotacityflorida,sarasotacountyflorida">U.S. Census Bureau</a>, <a href="http://www.city-data.com/">City-Data.com</a> Map Sarasota County &nbsp; &nbsp;Sarasota City Limits Lee County Ft Myers&nbsp; Weather As you might suspect, weather patterns in Sarasota and Ft. Myers are pretty similar to one another. Both historically share January as the coldest month while Ft. Myers experiences it's hottest month in June and Sarasota's peak heat month is July. See the average temps, precipitation and record numbers in the charts below, provided by Weather.com. Sarasota Weather <img src="https://assets.site-static.com/userfiles/3190/image/sarasotaweather_843.jpg" alt="" width="843" height="490" class="img_box_center" /> Ft. Myers Weather <img src="https://assets.site-static.com/userfiles/3190/image/blog_listings/ft_myers_weather_841.png" alt="" width="841" height="488" class="img_box_center" /> Sarasota County Properties Below&nbsp;are a few charts representing the average sale price of all properties in Sarasota county as well as the median sale price and inventory of active listings. These graphs do a great job showcasing Sarasota County's steady growth over the past 10 years. Average&nbsp;sold prices have&nbsp;gradually worked their way up, the lowest recorded average sale price over this time period was $192,316 in September 2010. Since then&nbsp;the peak average sale price blossomed to&nbsp;$437,063&nbsp;in&nbsp;November&nbsp;2017.&nbsp;April 2019 had an average sale price of $382,717 which is pretty consistent from the same time last year when April 2018 reported an average sale price of $381,708. Average sale prices across the state for April 2019 range from $49,500 to $678,166 and Sarasota County falls&nbsp;comfortably in the middle. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/SRQ vs Ft Myers/Monthly Housing Statistics for Florida Counties (Sarasota).png" alt="" width="899" height="519" class="img_box_center" /> Inventory of active listings&nbsp;has fallen significantly since 2008, the highest recorded level of active inventory showcased in this chart was February 2008 with 11,633 listings on the market. From this point the decline in inventory continued until reaching 2,985 active listings in August 2015. Active inventory has been building from that point, this past February sarasota county recorded 5,925 active listings which is the most on market listings since&nbsp;January 2012 (6,087). April 2019 recorded 5,502 active listings, a 600 unit jump from April 2018 (4,888). Throughout the state, Sarasota County's active inventory is still on the lower end the highest recorded inventory in April 2019 was 23,036 listings in Miami-Dade County. Lee County's active inventory nearly doubles Sarasota's with a reported&nbsp;10,735 listings. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/SRQ vs Ft Myers/Time Trends (sarasota).png" alt="" width="899" height="519" class="img_box_center" /> Lee County Properties Below is a chart representing the average price of all properties for sale and sold in Lee county. Unlike Sarasota,&nbsp;Lee County appears to be all over the chart and a bit harder to nail down. Average active prices have experienced significant growth over the year, August 2016 had an average of $578,000 and one year later has worked its way up to $758,000 with it's peak at $835,000 in June 2017. Average sale prices are a bit scattered and fluctuate&nbsp;pretty substantially&nbsp;from month to month. The largest average differentiation happened over the summer, average sales price peaked at $882,000 in May and drastically dropped in July to $239,000.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/SRQ vs Ft Myers/Monthly Housing Statistics for Florida Counties (lee).png" alt="" width="899" height="519" class="img_box_center" /> <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/SRQ vs Ft Myers/Time Trends (Lee).png" alt="" width="899" height="519" class="img_box_center" /> 2021 Sarasota & Manatee Real Estate Markets Recap https://www.dwellingwell.com/blog/2021-sarasota-manatee-real-estate-markets-recap/ Sarasota Real Estate News & Blog urn:uuid:1d4f2cfc-15f0-0b27-24fc-cf12f99f7ba5 Mon, 21 Feb 2022 10:30:41 -0500 Below you will find important real estate market statistics for the <a href="https://www.dwellingwell.com/sarasota/homes-for-sale/">Sarasota</a> and <a href="https://www.dwellingwell.com/bradenton/real-estate/">Bradenton</a><a href="https://www.dwellingwell.com/st-petersburg/clearwater-real-estate/">,</a>&nbsp;FL real estate market for 2021. Statistics include changes in average and median sales prices, average days on market, number of properties sold, etc.&nbsp;<img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report2.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report3.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report4.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report5.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report6.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report7.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report8.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report9.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report10.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/SRQ_Market_Report11.jpg" width="1650" height="1275" /> 2021 St. Pete and Tampa Real Estate Market Recap https://www.dwellingwell.com/blog/2021-st-pete-and-tampa-real-estate-market-recap/ Sarasota Real Estate News & Blog urn:uuid:e5b08186-3303-57d5-d889-0015a00bfb9e Mon, 21 Feb 2022 10:29:26 -0500 Below you will find important real estate market statistics for the <a href="https://www.dwellingwell.com/st-petersburg/real-estate/">St. Petersburg</a>, <a href="https://www.dwellingwell.com/tampa/real-estate/">Tampa</a> and <a href="https://www.dwellingwell.com/st-petersburg/clearwater-real-estate/">Clearwater,</a> FL real estate market for 2021. Statistics include changes in average and median sales prices, average days on market, number of properties sold, etc.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/Cover_-_St_Pete_2021_Market_Report_002.jpg" width="1980" height="1530" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report2.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report3.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report4.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report5.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report6.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report7.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report8.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report9.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report10.jpg" width="1650" height="1275" /> <img src="https://assets.site-static.com/userfiles/3190/image/Market_Updates/St_Pete_2021_Market_Report11.jpg" width="1650" height="1275" /> SHORT SALES: Dispelling Common Misconceptions https://www.dwellingwell.com/blog/short-sales-dispelling-common-misconceptions/ Sarasota Real Estate News & Blog urn:uuid:4cb3360d-3196-9264-6d9a-8517bfd0dddc Mon, 21 Feb 2022 10:11:37 -0500 <img title="shortsalepackage_400" src="https://assets.site-static.com/userfiles/3190/image/shortsalepackage_400.jpg" alt="shortsalepackage_400" width="300" height="360" /> In Sarasota&rsquo;s real estate market today short sales are nearly unavoidable.&nbsp; I talk with buyers&nbsp;every day and many of them have questions about how short sales work, how they&nbsp;are different than regular sales, etc. &nbsp;Here are the most common misconceptions &amp;&nbsp;the real scoop: Misconception:&nbsp; The lender forgiving the seller&rsquo;s loan has set the list price of the home. Real Deal:&nbsp; The seller and the seller&rsquo;s Realtor set the list price.&nbsp; They do this based on what&nbsp;they believe is the actual market value of the property.&nbsp; The lender often doesn&rsquo;t even know that the&nbsp;seller is going to ask for a short sale until after the property is listed &amp; has an offer. --&gt; But what about the short sale listings that say &ldquo;pre-approved price&rdquo;??&nbsp; Good question.&nbsp; It depends.&nbsp;In some cases, the seller had a buyer in place and got to the point in the process where an approval was issued, then lost the buyer for one reason or another.&nbsp; Sometimes the lender will allow a new buyer with the same offer price and terms to be substituted without a delay and sometimes not.&nbsp; Additionally, depending on how much time has passed and other factors, a lender may approve a price at one point and then later not approve the same price.&nbsp; Bottom line: Different lenders function differently and the same lenders function differently depending on the day.&nbsp; Yes, it is as fun as it sounds. Misconception:&nbsp; A cash offer will make a short sale move faster than an offer with financing. Real Deal:&nbsp; This is not true at all.&nbsp; As much as it seems like it should matter, lenders really don&rsquo;t care and your process will not move any faster with cash than with a loan.&nbsp; Either way, the lender gets paid at closing.&nbsp; The part of the process where this can matter to you as the buyer is in the time after the approval is issued.&nbsp; With cash, you do not have to worry about many of the things you do with a loan (appraisal, insurance, etc.) so you are able to close almost immediately after obtaining&nbsp;the approval, assuming the seller is already out of the house, rather than the 30-45 days it will take to close with financing. Misconception:&nbsp; If buyers kick and scream, the sale will move faster. Real Deal:&nbsp; I totally love to be the greasy wheel and get my way. &nbsp;Seriously, love it.&nbsp; But in a short sale, no matter how big a fit a buyer (or their agent) has and how much they threaten to walk away if we don&rsquo;t have an approval by x date, the lender will absolutely not care and will absolutely not hurry.&nbsp; The banks function on their own timetable, and unfortunately we have to get with their program cause they aren&rsquo;t going to adapt to ours. &nbsp;In fact, banks appear to enjoy making buyers wait ridiculous periods of time like eight months for an approval and then wanting the buyers to close within 14 days.&nbsp; Misconception:&nbsp; Short sales are always better deals than regular sales. Real Deal:&nbsp; I really wish this were true because short sales are certainly a much bigger headache for all involved and buyers&nbsp;should at least get something for all of their trouble!&nbsp; If you look at overall median sale prices and compare arm&rsquo;s length/regular sales with short sales and REOs/bank-owned properties, you will see that REOs have the lowest prices, then short sales, then regular sales.&nbsp; However, this is OVERALL.&nbsp; By this I mean that just because a sale is a short sale it does not mean that it particularly is a better deal than the regular sale down the street.&nbsp; There are well-priced short sales and there&nbsp;are overpriced short sales.&nbsp; Add to that mix that some banks use out-of-town appraisers who don&rsquo;t understand the intricacies of our market (same street east and west of 41 have WAY different values, for example), the condition of homes that are short sales can be much worse than regular sales with caring sellers, and/or the forgiving lender is just unrealistic.&nbsp; Finally, I have had quite a few buyers get better deals from regular sellers who were very motivated and no one even had to wait around!&nbsp; Estate sales, sales where the seller needs to relocate, and sales where the seller has owned the property for a million years and it&rsquo;s been paid off long ago can all be spectacular places to get a great buy now.&nbsp; Speaking of regular sales that are killer deals... The house below is a good example of an opportunity for a smooth, easy, timely, transaction where the buyer will know what he is getting and when to expect it.&nbsp; 2243 Kara Chase is a 3-bed+den, 1826 sq&rsquo; &nbsp;home on a cul-de-sac &nbsp;with a lake view in back, located in the convenient-to-everything Paddocks neighborhood.&nbsp; It is super well-maintained with a brand new roof, all new appliances (kitchen, washer/dryer, even water heater), new flooring throughout, a new garage door, and other fabulous features.&nbsp; This home&nbsp;is currently for sale for $199,900 ($109 per sq&rsquo;, crazy!). &nbsp; When properties like this are an option, why on earth would anyone want to fool around with an anxiety-filled distressed sale?&nbsp; I don&rsquo;t know either.&nbsp; :-) <img title="karachase_512" src="https://assets.site-static.com/userfiles/3190/image/karachase_512.jpg" alt="karachase_512" width="512" height="400" class="img_box_center" /> <img title="karachase1_512" src="https://assets.site-static.com/userfiles/3190/image/karachase1_512.jpg" alt="karachase1_512" width="512" height="400" class="img_box_center" /> <img title="karachase2_512" src="https://assets.site-static.com/userfiles/3190/image/karachase2_512.jpg" alt="karachase2_512" width="512" height="400" class="img_box_center" /> Sarasota Chosen Top Place to Retire https://www.dwellingwell.com/blog/sarasota-chosen-top-place-to-retire/ Sarasota Real Estate News & Blog urn:uuid:fda8a21c-c7a0-6129-1eee-b964491e2aa4 Mon, 21 Feb 2022 10:10:41 -0500 <img title="downtownsarasota_640" src="https://assets.site-static.com/userfiles/3190/image/downtownsarasota_640.jpg" alt="downtownsarasota_640" width="550" height="320" class="img_box_center" /> More good news for the Sarasota-Bradenton area. Portfolio.com, the national business news site, named the Sarasota-Bradenton market as the most desirable community for retirement. I pasted the article below or you can read it here - <a href="http://www.heraldtribune.com/article/20101216/BREAKING/101219831">Sarasota-Bradenton Chosen Top Place to Retire</a>. Portfolio.com, the national business news site, named the Sarasota-Bradenton market as the most desirable community for retirement. The ranking is welcome news in a region that is still getting over the effects of the Great Recession and clearly banking on a rebound in the influx of retirees to fuel its economy. In fact, many of the communities in the upper range of the list of 157 communities compiled by Portfolio.com represent economies heavily dependent on the real estate industry that are now struggling with some of the highest foreclosure rates in the nation. Charlotte County was ninth of the top 10 retirement communities, which included six other Florida communities. The rankings were based on an analysis of data from the American Community Survey, conducted in 2009 and released by the U.S. Census Bureau in September. The communities analyzed by Portfolio.com were from the top 157 metropolitan and &ldquo;micropolitan&rdquo; areas that had at least 40,000 residents who could be classified as seniors. &ldquo;The study explores a wide variety of markets, both in terms of size and geography,&rdquo; said G. Scott Thomas, a demographer who created the analysis for Portfolio.com. &ldquo;The markets that ranked the highest in the study were areas where the population of seniors is already substantial and growing rapidly.&rdquo; The combined Manatee and Sarasota county market was the largest on the top 10 list. Portfolio.com said that senior citizens represent 26.81 percent of the population of 688,126, or more than double the national average of 12.9 percent. The business site said that &ldquo;more than 95 percent of seniors residing in Bradenton-Sarasota were born out of state compared to only 53 percent of the elderly residents of a typical U.S. market who were born out of state.&rdquo; Second and third on the list were two communities in Arizona, another traditional retirement haven: Prescott and Lake Havasu City, respectively. The next seven were Florida communities: Cape Coral-Fort Myers, Naples, Palm Bay-Melbourne, Homosassa Springs, Ocala, Punta Gorda (the Charlotte County metropolitan area) and Port St. Lucie. Four other Florida markets &mdash; Tampa-St. Petersburg, Daytona Beach, Miami-Fort Lauderdale and Lakeland &mdash; were included among the top 20. Also on that list were Seaford, Del.; Barnstable, Mass.; Santa Rosa, Calif.; Reno, Nev.; Phoenix; and Riverside-San Bernardino, Calif. &ldquo;Beginning next year, an unprecedented three million Americans will turn 65. While most of these seniors are expected to stay in their current homes, a significant number will decide to seek new places to live in other parts of the country,&rdquo; said J. Jennings Moss, Portfolio.com's editor. &ldquo;In addition to warm cities, we've also seen that seniors are attracted to communities that already have a significant population of retirees,&rdquo; Moss said. &ldquo;This demonstrates that seniors will go to places that already have a comfortable infrastructure in place.&rdquo; 10 Remarks from Unrealistic Home Buyers https://www.dwellingwell.com/blog/10-signs-of-an-unrealistic-buyer/ Sarasota Real Estate News & Blog urn:uuid:53bc1f85-59c7-7836-b8af-a0baf7de350a Mon, 21 Feb 2022 10:10:16 -0500 <img title="sarasota-bay-club_16_400" src="https://assets.site-static.com/userfiles/3190/image/sarasota-bay-club_16_400.jpg" alt="Buyers Real Estate Market" width="350" height="225" class="img_box_left" /> The 10 remarks of unrealistic home buyers listed below are mostly comical in nature. However, I have heard all of these (or something very close) over the years. If you are a Realtor selling homes in Sarasota then you probably have as well. Part of our compensation as real estate agents comes from educating the consumer. This list might come across as complaining but I really am not.&nbsp;Make no mistake, we love our home buyers (and sellers). Hopefully, consumers will continue to need us Realtors as much as we need them.&nbsp; Allegedly Heard from Sarasota Home Buyers ;-) 1. "I am in control of this deal. The sellers need me more than I need them. They should be thanking me."&nbsp; 2. "I can probably get a mortgage without a problem. Let's go find the house now and then we will worry later about how to pay for it."&nbsp; 3. "I would like to find a house on <a href="https://www.dwellingwell.com/bird-key-real-estate.php">Bird Key</a> overlooking the bay for $1,000,000." 4. "Thank you for showing us these Sarasota real estate market statistics. My sister's boyfriend is a waiter at Chili's but has his real estate license. He told me that it is still a buyer's market."&nbsp; 5. "I know the roof checked out fine in the inspection, but we would like the sellers to install a new metal roof for us. We love the way they look." 4. "I would like to make an offer for 70% of the asking price. I won't pay much more than that." &nbsp;(The average price discount in Sarasota hovers around 5%) 5. "I would like a <a href="https://www.dwellingwell.com/sarasota-beachfront-condos.php">beach condo</a> for $300,000. It&nbsp;needs to be newer and have an unobstructed water view." 6. "I want to put down $2,000 and have the seller hold a mortgage for the rest." 7. "We want a new home with some privacy and a lake view within walking distance of downtown." 8. "I would like to lease option a beach front&nbsp;<a href="https://www.dwellingwell.com/longboat-key-condos.php">condo on Longboat Key</a>. Can you help me find a seller that won't ask me to put much money down?" 9. "Here is our home inspection report. We would like the sellers to paint the entire house inside and out." 10.&nbsp;"I plan on retiring in 9 years but want to look at some property now. Can we see these 11 homes this weekend?"&nbsp; <img title="marc_signature.jpg_141" src="https://assets.site-static.com/userfiles/3190/image/marc_signature.jpg_141.png" alt="marc_signature.jpg_141" width="100" height="60" /> &nbsp;Originally wrote&nbsp;WEDNESDAY, OCTOBER 16TH, 2013 Sarasota real estate booms: A timeline https://www.dwellingwell.com/blog/sarasota-real-estate-booms-a-timeline/ Sarasota Real Estate News & Blog urn:uuid:f4ed207c-2efa-400a-12aa-f219f4b3e196 Mon, 21 Feb 2022 10:04:44 -0500 The Sarasota Herald Tribune wrote an interesting article about Sarasota real estate booms. I pasted it below. <a href="http://www.heraldtribune.com/news/20180318/sarasota-real-estate-booms-timeline">Here is the original article</a>. By Harold Bubil<br />Real Estate Editor Emeritus&nbsp;<br /> Posted Mar&nbsp;18,&nbsp;2018&nbsp;at&nbsp;6:33&nbsp;AM The city, like the state around it, has proven to be irrepressible <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/sansara.jpg" alt="Sansara condos" width="468" height="312" class="img_box_right" />The current real estate boom is historic, but there have been plenty of others. The city, like the state around it, has proven to be irrepressible. Sarasota is in another real estate boom &mdash; just 10 years after the last one, which was epic by historical standards, ended in an historic bust. Back then, developer/homebuilder Pat Neal, head of Neal Communities, shrugged off the collapse, even as he retooled his company to build less-expensive homes so buyers wouldn&rsquo;t disappear completely. &ldquo;I&rsquo;ve seen this movie before,&rdquo; he told the Herald-Tribune. Indeed he had in a career that started in the 1970s. Booms and busts are what Florida real estate is all about. For newcomers and those who may have forgotten, Sarasota is not in its second boom. There have been a half-dozen or more. A boom is a period of intense buying, selling and construction, coupled with rising land prices and building costs. In downtown Sarasota, it is seen in redevelopment, as old buildings are torn down and impressive high-rises take their place. A bust, when the pace of transactions slows and prices level off or fall, almost always follows. Sarasota&rsquo;s natural state is that of &ldquo;boom;&rdquo; that is true in the rest of South Florida as well. In the early 20th century, as historian Jeff LaHurd has noted, the newspaper advertisements proclaimed, &ldquo;Sarasota&rsquo;s growth cannot be stopped.&rdquo; That has proven to be the case, so far. &ldquo;Sarasota is all about selling houses,&rdquo; Realtor Martie Lieberman told the Herald-Tribune in 2003, as another boom was ramping up. &ldquo;It always has been.&rdquo; VueEven from the start of the Settlement Era, the community&rsquo;s developers, promoters and boosters have catered to the rich. The land itself was promoted to the Scottish Ormiston Colony in 1885 as &ldquo;the most rich and beautiful,&rdquo; ideal for the would-be gentleman farmers who sold everything back home and took the families on a two-month overseas journey into South Florida. Until that time, it was considered too wild, too lawless and too swampy to even care about. The developer, Sir John Gillespie, could be excused if he made no mention of the vigilante murder of Sarasota postmaster Charles Abbe a few months earlier. When the Scots arrived in December to find unpaved streets, infertile sandy soil and scant housing, they suspected they&rsquo;d been had. When freezing temperatures set in a few weeks later, they were sure of it. Most of the families went back to Scotland. But a few stayed, and Gillespie was determined to make good on the promises his Florida Mortgage &amp; Investment Co. had made. He sent his son, John Hamilton Gillespie, 34, to Sarasota to start making good on the original promises. J.H. Gillespie&rsquo;s first hotel, the DeSoto, was &ldquo;a place for those of wealth and influence.&rdquo; It became the Belle Haven Inn, was sold for $35,000 in 1913 and again for $500,000 during the boom in 1925 &mdash; for land value. It was torn down to make way for a bank. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/agent-1/Downtown Sarasota 1940s DwellingWell.jpg" alt="Downtown Sarasota Florida" width="506" height="493" class="img_box_right" />Gillespie also built stores and houses, laid out some streets and made Sarasota a little less of a frontier town. It had &ldquo;risen&rdquo; to the stature of a sleepy fishing village. Main Street was booming &mdash; but guess what? Within a year, properties went begging, and the bust was on. In Florida real estate, the distinction of investment vs. speculation has always been blurry, writes respected historian Gary Mormino in his 2005 book, &ldquo;Land of Sunshine, State of Dreams: A Social History of Modern Florida.&rdquo; Salesmanship, promotion, boosterism and public relations were as much fuel for the real estate engine as easy credit, he wrote. Mosquito control, screens, air-conditioning, trains and highways (and creative financing) helped it happen. What had been worthless swampland, sandy hills and sandspur-covered barrier islands became &ldquo;paradise&rdquo; for winter-weary Northerners. Mormino points out that there have been three major booms in Florida&rsquo;s history. The first was from 1782 to 1784, when British loyalists fled the new United States for British East Florida, in the northeastern portion of the peninsula. Then there was the boom of the 1920s and the post-World War II boom of the 1950s and &rsquo;60s. Boom-bust cycles of varying scales are just part of the landscape in Florida. Here is a timeline of Sarasota&rsquo;s booms: 1886-87&nbsp;&mdash; A mini-boom along Main Street follows the failure of the Scots&rsquo; Ormiston Colony. Simple wooden houses and shops go up. But when &ldquo;Bradentown&rdquo; becomes the new county seat of Manatee County, Sarasota goes into a funk. Col. John Hamilton Gillespie is the leading &mdash; perhaps the only &mdash; developer. Weeds are growing in his streets, the hotel is empty and land goes begging at $10 per acre. 1900s&nbsp;&mdash; At the end of the Settlement Era, land prices soar along Main Street, until the Panic of 1907, which gave rise to the Federal Reserve System. Downtown&rsquo;s central business district begins to take shape. Gillespie&rsquo;s 1890s &ldquo;Slow and Wobbly&rdquo; train from Bradenton is replaced in 1903 by the Seaboard Air Line, and, by the 1920s, the Atlantic Coast Line brings its line to town. (Passenger rail service ended in 1971.) 1910&nbsp;&mdash; Lured by an advertisement by landowner and real estate promoter J.H. Lord, Chicago socialite Bertha Palmer arrives by boat with her family, proclaims Sarasota Bay &ldquo;as beautiful as the bay of Naples&rdquo; (Italy) and buys tens of thousands of acres south of Sarasota and north of Tampa. Her rich friends follow. Another Chicagoan, Owen Burns, arrives a couple of months after Palmer and buys 75 percent of Sarasota for $35,000. He begins an infrastructure improvement program with paved streets, utilities and seawalls. Sarasota is on the map. 1922-26&nbsp;&mdash; A year after Sarasota County broke off from Manatee, the largely speculative Florida Land Boom brings a wave of development to downtown Sarasota and Venice, and ends in an epic market collapse. The First Bank &amp; Trust at Five Points, the El Vernona Hotel, the Hotel Sarasota, the American National Bank (it went broke two years later and became the Orange Blossom Hotel, then apartments, then condos) and the Terrace Hotel are the first &ldquo;high-rises&rdquo; in downtown. Also, Andrew McAnsh&rsquo;s 1922 Mira Mar Hotel with auditorium and apartments and shops, the current Belle Haven, the Frances Carlton Apartments, the Atlantic Coast Line Rail Station, John and Mable Ringling&rsquo;s Ca&rsquo; d&rsquo;Zan, the Charles Ringling Mansion, the Sarasota Times building, the County Courthouse, and dozens upon dozens of fine Mediterranean Revival homes are built. Many of these landmarks are still standing. John Nolen, the leading city planner of the era, revises the layout of downtown before drawing up Venice. Sarasota would look much the same until the mid-1960s. Burns and the Ringlings, John and Charles, dominate the development scene, but the Whitfields and others take the boom out of downtown with new subdivisions. Ringling hires Burns, who owns sand dredges, to help him create Lido and St. Armands keys, as we known them today, from the mangrove Cerol Isles. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Downtown Sarasota 1940.jpg" alt="Downtown Sarasota Florida" width="439" height="288" class="img_box_right" />On Longboat Key, John Ringling dreams of a Ritz-Carlton. Its uncompleted shell stands like a ghost until it is torn down in the 1960s. The Tamiami Trail, of which Main Street was a key link, is completed, bringing countless tourist/buyers to town. The wooden Ringling Causeway takes buyers to John Ringling Estates; Mr. John sells it to the city a year later for $1, after he connects it to then-tiny Bird Key with land dredged from bay bottom. During the Depression, the bridge sits unused and the planks rot. 1930s&nbsp;&mdash; The Works Progress Administration employs the unemployed during the Great Depression, leaving behind landmarks that still stand (the Municipal Auditorium) and those that don&rsquo;t (the Lido Casino). The Federal Building also goes up as the U.S. Post Office, serving until the 1960s. 1950s-&rsquo;60s&nbsp;&mdash; Along with the usual wave of retirees, a flood of young families, led by World War II veterans who trained here during the war, moves to Florida to create a bona fide boom fueled by what are now known as &ldquo;end-users.&rdquo; Developers, including the Paver family, create such solid, yet modest, developments as Paver Park and Kensington Park, but others carve out huge &ldquo;land scam&rdquo; schemes in Southwest Florida, from Port Charlotte south to Lehigh Acres in Lee County and Golden Gate Estates in Collier. When the developers discover they can make more money building houses than selling lots at &rdquo;$10 down and $10 a month,&rdquo; they do just that. National Geographic names nearly deserted Siesta Beach among the four most beautiful strands in the world. Sarasota becomes known as an artists&rsquo; and writers&rsquo; colony and a mecca of modern architecture. Among the cultural stars are artists Hilton Leech, Thornton Utz and Syd Solomon; writers John D. MacDonald and MacKinlay Kantor; architects Ralph Twitchell, Paul Rudolph and Victor Lundy; musician Rudy Bundy; and dozens of circus performers, including famed clown Emmett Kelly. At the same time, downtown transforms. In a move that is still controversial, U.S. 41 is routed along the bayfront on dredged-and-filled land, leading to the closure of many gas stations on Main Street. Condominiums become desirable options for retiring seniors, and &ldquo;condomania&rdquo; becomes part of the lexicon as, between 1964 and &rsquo;68, a handful of high-rises go up on Gulf Stream Avenue. Along with them come more high-rise office buildings, mostly banks, and modernist buildings of the Sarasota School of Architecture. Arvida&rsquo;s 1959 purchase of the Ringling Estate&rsquo;s 2,200-acre waterfront holdings leads to the development of Bird Key, Country Club Shores, Longboat Key Club and many condos on Longboat, with designs by architect Edward J. &ldquo;Tim&rdquo; Seibert. Irving Z. Mann&rsquo;s first condo, Sarasota Harbour, is built, modestly, at just three stories in 1963. Across John Ringling Parkway, 24-story Plymouth Harbor goes up in 1966, becoming the tallest building in town for decades. The big developers are Rolland King and Frank Smith at South Gate (1955) &mdash; the Lakewood Ranch of its day &mdash; and Gulf Gate, while Ruth Richmond builds hundreds of homes that have now become vintage treasures. 1970s&nbsp;&mdash; A bust is tripped off by the Arab oil embargo following the Arab-Israeli Yom Kippur War and a spike in America&rsquo;s prime interest rate. The same year that the Watergate scandal takes down President Nixon, the One Watergate condominium grabs headlines in Sarasota and is joined by new condos on Sunset Point. A thousand condominium projects fail in Dade and Broward counties. &ldquo;People got drunk on Florida,&rdquo; says one observer, quoted by historian Mormino. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/vuesarasota.jpg" alt="Vue Condos Sarasota" width="488" height="325" class="img_box_right" />But the market soon recovers. &ldquo;Florida is not overbuilt, it&rsquo;s undersold,&rdquo; says one developer, quoted in Mormino&rsquo;s book. Disney World brings a flood of tourists and retirees, and a bigger boom ensues. 1982&nbsp;&mdash; Sarasota&rsquo;s downtown condo market overheats after construction of Seibert&rsquo;s Bay Plaza and 888 Boulevard of the Arts. Mortgage interest rates approaching 20 percent bring on another recession. But it is not all bad news. Robert A. Morris builds a development machine, with The Landings among his products, and more subdivisions go up around Sarasota, some of them on land that is known for flooding. Late 1980s-early 1990s&nbsp;&mdash; A nationwide savings and loan crisis leads to a bust in the commercial real estate sector. Construction cranes sit idle, storefronts are boarded up, and some people even leave the state &mdash; unprecedented since the 1926 bust. But Florida&rsquo;s forgiving statutes regarding debt lead to a bankruptcy boom, as the wealthy head south to protect their assets in expensive homes. A residential real estate recession takes hold for a year or two. 1990s-2001&nbsp;&mdash; Following Hurricane Andrew in 1992, insurance money and government assistance leads to a building boom in South Florida, and it spreads to the rest of the state. Luxury development takes off with Sarabande, Tessera, Marina Tower and the Ritz-Carlton hotel with condos, and, in a separate building, the Tower Residences (2003). On the barrier islands, the keyword in condo marketing is &ldquo;upscale&rdquo; and &ldquo;luxury.&rdquo; The rich display an appetite for second and third homes. Gated communities are the rage, as are the master-planned communities of Lakewood Ranch, Palmer Ranch, along with dozens of others throughout the state. 2002-2012&nbsp;&mdash; A speculative boom of legendary scale, brought on by speculation, &ldquo;flipping&rdquo; and way-too-easy credit, is followed by the Great Recession, which, in Florida, is in fact a real estate depression. Prices fall, sales stop, tradesmen leave. Before the carnage, downtown is reshaped by 100 Central, Plaza at Five Points, 1350 Main and the Golden Gate Point luxury condos. 2014-?&nbsp;&mdash; The current real estate boom again reshapes downtown Sarasota and its surrounding neighborhoods. Condo &ldquo;pads&rdquo; are in short supply, so old projects are rehabilitated and the few empty lots are filled with condos, hotels and apartment buildings. Working-class Laurel Park and Gillespie Park, and the middle-class &ldquo;Flower Streets,&rdquo; are redeveloped &mdash; out with the ranch houses, in with the mini-mansions, priced at a half-million dollars and up. Indeed, Sarasota&rsquo;s growth cannot be stopped &mdash; at least until the next bust. How Are Millennials Driving Demands in the Housing Market Today? https://talktocj.com/how-are-millennials-driving-demands-in-the-housing-market-today/ Talk to CJ urn:uuid:29dc253c-cb3b-7ab5-48d6-a1239d571779 Sat, 19 Feb 2022 20:54:05 -0500 <p>Millennials want to live in the city center in urban neighborhoods that are close to the action. They want to Uber, Lyft or walk to their favorite restaurants, cafes, and coffee shops. Even more importantly, Millennials want to live in mixed-use developments, where they can walk to work, which is a much sought-after amenity in [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/how-are-millennials-driving-demands-in-the-housing-market-today/">How Are Millennials Driving Demands in the Housing Market Today?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p>Millennials want to live in the city center in urban neighborhoods that are close to the action. They want to Uber, Lyft or walk to their favorite restaurants, cafes, and coffee shops. Even more importantly, Millennials want to live in mixed-use developments, where they can walk to work, which is a much sought-after amenity in urban centers.</p> <p>Millennials are a driving force in the housing market, a trend that affects both home sellers and buyers. Millennials prefer to rent over buying a house, and the number of homeowners in this demographic is decreasing.</p> <p>It may appear that Millennials are fickle and flighty in their home buying habits, but this is not the case. Millennials are making investments in the housing market and will continue to do so.</p> <p>The median age of a first-time homebuyer is currently 36 and there were an estimated 11.8 million first-time homebuyers in 2016. In fact, millennials are collectively responsible for 76% of home purchases and 43% of home purchases were made by people under the age of 34, with an estimated income of $60,000.</p> <h2>What Motivates Millennials to Buy Homes Today?</h2> <p>After years of splurging on exotic travels and fancy restaurants, millennials who are often known to choose experiences over possessions are now snatching up large assets such as cars and houses.</p> <p>This trend, which started in 2019 right after the global pandemic forced people to stay home and practice social distancing, drives up the property prices and incites developers to create multifunctional and community spaces with modern and sustainable elements.</p> <p>Millennials, i.e., those born between 1981 and 1996, are buying homes later in life than previous generations. Experts believe that the pandemic and the emergence of work-from-home arrangements prompted them to buy properties. The remote work arrangement also allows millennials to leave expensive cities and relocate to a cheaper neighborhood.</p> <p>While the previous generations snatched up homes in their 20s, this was not the case with millennials who have been burdened by student debt, the financial crisis followed by housing market collapse, and ultimately the tighter credit standards that made it difficult for many young borrowers to qualify for loans. But with these “frictions” now starting to ease, they are finding it easier to purchase their first home.</p> <p>Currently, more than half of the US total population are members of the millennial generation or younger, numbering around 166 million or 50.7% of the population.</p> <h2>How is the Millennial-Driven Demand Affecting Homebuyers and Sellers?</h2> <p>More than any other generation, millennials are slow to grow up. That isn&#8217;t just a figure of speech, either. According to a recent survey by the Demand Institute and Nielsen, this generation of young professionals is a quarter-century behind schedule. &#8220;Millennials are delaying major life events as well as major household purchases,&#8221; the report concluded. &#8220;Their lifestyles are also different from previous generations.&#8221;</p> <p>The Millennial generation is currently the largest generation in the U.S., and it is only going to grow as the oldest Millennials continue to age. This is important when it comes to the housing market, because Millennials are both the largest generation and the generation that is most likely to move to a new home.</p> <p>Millennials are also driving demands for different types of housing than other generations have. In fact, many of the most popular types of housing today are the result of millennial preferences.</p> <h2>Work with a Real Estate Professional</h2> <p>Whether you’re a homebuyer or seller, the rising demand for home properties has an impact on your game plan, and so it’s important that you work closely with a real estate professional who has an in-depth knowledge of the local housing market.</p> <p>While a “hot market” gives home sellers more power at the negotiation table compared to homebuyers since the supply far outweighs the demand, it remains important to come up with a reasonable asking price, which an experienced real estate specialist can help you with.<br /> The asking price works like a marketing tool in which the goal is to attract as many buyers as possible. When you have multiple potential buyers, you have more negotiating power as a seller, which could drive up the price of your property.</p> <p>In contrast, a home with an asking price that’s too high–i.e., compared to similar properties that have been sold in the past six months and were located in the same neighborhood or geographic area–may stay too long on the market, much to the detriment of a seller’s bargaining power.<br /> A home that sits too long on the market also means extra expenses that include property taxes and homeowners association (HOA) fees.</p> <p>And for homebuyers, a hot market could mean paying higher than the asking price so they won’t lose out against other buyers trying to snatch up the same property they have their eyes on. Nonetheless, working with a real estate expert can help you come up with a plan that doesn’t necessarily include going above your budget.</p> <h2>A Final Word on Millennials and the Current Housing Market</h2> <p>I hope this blog post has been helpful in providing you with more information about the housing market and how millennials are driving the demands in the industry today.</p> <p>If you&#8217;re a millennial looking to buy a house, you should contact me as soon as possible. I can help you navigate the current market and find the home that is perfect for you. If you are getting ready to sell your home, it’s a good idea to reach out to a real estate professional to help you get the most for your home.</p> <p>As a qualified realtor and real estate specialist who has already helped hundreds of homebuyers and sellers in the Bay Area, I can give you pricing advice and help you with the pre-negotiation homework and paperwork.</p> <p>To learn more about how you can take advantage of the most current trends in the housing market, call me at <strong>(408) 406-6035</strong> or <a href="https://talktocj.com/meet/" target="_blank" rel="noopener"><u>schedule a free consultation</u></a>. I would be delighted to help you make the best decisions for your real estate needs.</p> <p>The post <a rel="nofollow" href="https://talktocj.com/how-are-millennials-driving-demands-in-the-housing-market-today/">How Are Millennials Driving Demands in the Housing Market Today?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> What Do I Need to Know About Staging My Silicon Valley Home? https://talktocj.com/what-do-i-need-to-know-about-staging-my-silicon-valley-home/ Talk to CJ urn:uuid:2fcd4d3e-f0be-4a37-04fd-8c4e017d6e3c Wed, 09 Feb 2022 20:33:16 -0500 <p>Preparing your Silicon Valley home for sale can be quite a challenge because you want to make sure your home is the best it can be and tick just the right checkboxes as well. See, you don&#8217;t want to spend a year getting ready, but you do want to make the appropriate preparations that will [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/what-do-i-need-to-know-about-staging-my-silicon-valley-home/">What Do I Need to Know About Staging My Silicon Valley Home?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p>Preparing your Silicon Valley home for sale can be quite a challenge because you want to make sure your home is the best it can be and tick just the right checkboxes as well.</p> <p>See, you don&#8217;t want to spend a year getting ready, but you do want to make the appropriate preparations that will get the most qualified buyers interested in it so you can get top dollar for your property.</p> <p>When we’re talking about staging your Silicon Valley home, you want to make the appropriate changes and adjustments that will bring a solid return on investment. Staging can help make your house stand out from the competition by ensuring you&#8217;re getting buyers who are keen on the decision they are about to make.</p> <p>This proves ideal because it helps them feel more comfortable with both their choice and their decision, leaving little room for doubt or regret in the long run, which ultimately means a stronger offer for the seller!</p> <p>To make sure you&#8217;re getting top dollar when selling your home, there&#8217;s no better solution than to hire specialists who have the right tools to turn one&#8217;s house into a real masterpiece.</p> <h2>Before Staging Your Silicon Valley Home</h2> <p>Buyers need to feel that there will not be any surprises at a later point in time. For example, they might get the surprise of higher costs after they have already moved into a home and are living there. Or even worse, such buyers can get into an escrow agreement with inspections done by professionals; however, on final inspection, it turns out that the home is actually different than expected or as described.</p> <p>It is important for you to provide pre-sale inspections so that your buyer knows what condition the house is in before making an offer on it and negotiating about possible repairs during escrow which could result from this information being unknown before signing off on anything (which usually happens when negotiations happen due to some kind of hidden problem).</p> <p>The best time to get the inspection done is before you put your property on the market &#8211; it may boost sales prices by 1-2%. You&#8217;ll want a pest report at the very least, a home inspection, and then an inspection for various components such as the pool, roof, chimney, etc.</p> <p>By inspecting and picking out key repairs and doing them before marketing the home, you should be able to sell it As-Is once you do try to sell it.</p> <h2>Staging is All About Maximizing Your Home’s Value</h2> <p>Your property has to be attractive if buyers want to live in it. It&#8217;s almost like dating: there has to be a spark of attraction for the buyer to commit.</p> <p>This, my friends, is what staging is all about– we want your townhome, condo, or house to appeal broadly to potential buyers possible. It’s time you make your home about them, instead of just doing things that are convenient for you.</p> <p>The best return on your dollar for any pre-sale preparation, after inspections and repairs, will be cosmetic rather than structural changes. Now, it’s nearly impossible to tell what one item would “return” by itself, but as a package, you may see a 3:1 return on investment for minor tweaks.</p> <ul> <li>A bit of landscaping up in front</li> <li>Cleaning the home inside and out</li> <li>Removing odors (usually from pets or smoking)</li> <li>Applying a fresh coat of paint (as needed!)</li> <li>Getting new floor coverings as needed</li> <li>Decluttering– that includes sweeping through closets, cabinets, and other storage areas</li> <li>Depersonalizing (so buyers can more easily envision themselves moving in!)</li> </ul> <p>Remember: when buyers feel comfortable and happy both emotionally and financially, they are more likely to write a better offer. A home that is clean, de-cluttered, and fresh-looking will do just the trick!</p> <h2>Dealing with Big Selling Rooms</h2> <p>The three most important rooms that can create an impact are kitchens, bathrooms, and master bedrooms. Of all the rooms in your Silicon Valley property, you must spend more time staging these and making them look stunning.</p> <p>You might be wondering– what about remodeling these completely? You may not be able to get back the full cost of major improvements, but you can still make your home more attractive by doing a few quick fixes.</p> <p>For example, say you have a kitchen that is 30 or 40 years old and in need of remodeling. You might be able to recoup some money by updating it a little so it seems new: install new fixtures, change up your lighting, install new appliances, update the countertop, and paint the cabinets.</p> <p>So prioritize those quick fixes first. If time and budget allow, then go for your more big-ticket items.</p> <h2>How Much Should I Expect to Spend When Doing Staging?</h2> <p>I estimate it would cost about 1-2% of the home&#8217;s value to prepare it for sale on the market. This includes inspections, and repairs, in addition to staging.</p> <p>Now if you’re just a little cash-strapped at this point, keep in mind that some options can be billed to escrow, but there are costs for them. Inspections usually come with two rates: upfront payment provides substantial discounts.</p> <p>There are real estate affiliates that install flooring or other floor coverings and they will bill you through escrow or at least wait 60 days before being paid unless you pay them upfront first. However, these vendors (just like your inspectors) charge less if you can do so right away.</p> <h2>A Final Word on Staging Your Silicon Valley Home</h2> <p>Properties in and around the neighborhood of Silicon Valley are almost always in demand. Which means it’s a relatively competitive market. Staging your home is not just about making your property stand out head and shoulders above the rest, but it’s also about making sure you get top dollar on your investment.</p> <p>Remember: when you sell your home and increase the odds that you can sell it as is, a fair amount of work upfront will certainly be involved. Get inspected professionally by an inspector; take care of some key issues; then prepare aesthetically so that buyers want in with their offers for this property.</p> <p>As you now know, a lot of that magic happens before a buyer even crosses the threshold or a “For Sale” sign graces your front yard.</p> <p>Find out why I’m the top choice of buyers and sellers in <strong><em>San Jose</em></strong>, <strong><em>Los Gatos</em></strong>, <strong><em>Rose Garden</em></strong>, <strong><em>Campbell Willow Glen</em></strong>, <strong><em>Saratoga</em></strong>, <strong><em>Morgan Hill</em></strong>, <strong><em>Gilroy</em></strong>, and <strong><em>throughout the Bay Area</em></strong>. Let me fill you in on a few extra secrets when <strong>Staging your Silicon Valley Home</strong>. <a href="https://talktocj.com/meet/" target="_blank" rel="noopener"><strong><u>Talk to CJ today</u></strong></a> at <strong>(408) 406-6035</strong>.</p> <p>The post <a rel="nofollow" href="https://talktocj.com/what-do-i-need-to-know-about-staging-my-silicon-valley-home/">What Do I Need to Know About Staging My Silicon Valley Home?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Corcoran Launches First Georgia Affiliate https://www.dwellingwell.com/blog/corcoran-launches-first-georgia-affiliate/ Sarasota Real Estate News & Blog urn:uuid:97b4ac27-0d52-de67-0298-10ce126c37fc Mon, 07 Feb 2022 10:21:58 -0500 The Savannah firm formerly known as Austin Hill Realty is now Corcoran Austin Hill Realty. NEW YORK, NY&nbsp;&ndash;&nbsp;February 7, 2022&nbsp;&ndash; Corcoran Group, LLC today announced its continued expansion by welcoming its newest affiliate and entrance into the state of Georgia with the launch of Corcoran Austin Hill Realty, owned and led by Austin Hill and Stephanie Wilson-Evans, based in Savannah. The announcement, made by Pamela Liebman, President and CEO of The Corcoran Group, represents another important milestone for the firm. <img loading="lazy" class="wp-image-13625 thb-pinned lazyautosizes lazyloaded" src="https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1013x1024.png" data-src="https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1013x1024.png" alt="" width="400" height="405" data-sizes="auto" data-srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1013x1024.png 1013w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-297x300.png 297w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1519x1536.png 1519w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-90x90.png 90w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-450x455.png 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-20x20.png 20w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-225x227.png 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-900x910.png 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1350x1365.png 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-95x96.png 95w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-600x607.png 600w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-100x100.png 100w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni.png 1816w" sizes="400px" srcset="https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1013x1024.png 1013w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-297x300.png 297w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1519x1536.png 1519w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-90x90.png 90w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-450x455.png 450w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-20x20.png 20w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-225x227.png 225w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-900x910.png 900w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-1350x1365.png 1350w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-95x96.png 95w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-600x607.png 600w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni-100x100.png 100w, https://inhabit.corcoran.com/wp-content/uploads/2022/01/savannah_massoni.png 1816w" /><a class="thb-pin-it thb-pin-it-ready" href="https://pinterest.com/pin/create/bookmarklet/?url=https%3A%2F%2Finhabit.corcoran.com%2Fcorcoran-launches-first-georgia-affiliate%2F&amp;media=https%3A%2F%2Finhabit.corcoran.com%2Fwp-content%2Fuploads%2F2022%2F01%2Fsavannah_massoni-1013x1024.png&amp;is_video=false" target="_blank"></a> The first planned city in the United States, Savannah is known for its beautiful coastal landscapes, cultural arts and well-preserved architecture. Full of vibrant history including museums, churches and monuments, Savannah boasts the largest National Historic Landmark District in the country. With diverse neighborhoods ranging from historic mansions to beach front communities, Savannah is a perfect fit for Corcoran&rsquo;s continued growth throughout the U.S., further establishing the brand in the southern states. &ldquo;I&rsquo;m thrilled that we&rsquo;ve arrived in Georgia, let alone with such an established team that takes every opportunity to truly advocate for their agents and clients,&rdquo; said Liebman. &ldquo;Austin, Stephanie, and the entire group at Corcoran Austin Hill Realty are doing incredible work in Savannah and I love that they prioritize going the extra mile to give back to their community. This, coupled with their personalized approach to real estate, is so well-aligned with our brand and I can&rsquo;t wait to see what they do next in this new endeavor.&rdquo; The firm formerly known as Austin Hill Realty was founded in 1978 as a specialized boutique operation, representing clients in Savannah with properties of all types, including luxury mansions, waterfront estates, condominiums, or commercial buildings and land. In 2020, Austin Hill Realty and Three Oaks Realty merged to further strengthen the entity&rsquo;s position in the Savannah market, and relocated to the heart of the city&rsquo;s Landmark Historic District. Today, with a focus on doing their part to create a thriving community, the Corcoran Austin Hill Realty team regularly contributes their time and resources to those in need&mdash;including Location Gallery, inside their office, where local artists&rsquo; work is featured and all profits are donated to local charities. The firm is also contracted to be the exclusive residential real estate firm sponsor of Savannah&rsquo;s new Enmarket Arena, which is scheduled to open later this month, and for the Savannah Ghost Pirates, a professional minor league ice hockey team that will begin their season this October at Enmarket Arena. &ldquo;Having been in business for more than 40 years, we are proud to align with a brand that shares the same core values, longevity, and commitment to people. We look forward to building a relationship that will benefit our community for the next 40 years and beyond,&rdquo; said Austin Hill, President of Corcoran Austin Hill Realty. &ldquo;We share a philosophy of nurturing a company of outstanding agents who keep our clients at the center of everything we do,&rdquo; said Stephanie Wilson-Evans, Vice President &amp; Broker of Corcoran Austin Hill Realty. &ldquo;We are honored to join the Corcoran family and feel confident that the tools, technology, and people will further benefit our agents, staff, and clients tremendously.&rdquo; <a href="https://inhabit.corcoran.com/corcoran-launches-first-georgia-affiliate/">Corcoran Launches First Georgia Affiliate</a>&nbsp;&nbsp; How Does A Balanced Market Affect Home Buyers and Sellers? https://talktocj.com/how-does-a-balanced-market-affect-home-buyers-and-sellers/ Talk to CJ urn:uuid:9dd2e215-1480-9525-5d23-e7927cddf74b Tue, 01 Feb 2022 07:55:41 -0500 <p>The housing market is changing and it is more beneficial right now to home sellers than home buyers. With demand for new homes and existing homes out-stripping supply, the real estate market has been dubbed a “seller’s market”.  &#160; With property prices continuing to rise and the market heading towards a seller&#8217;s market, the question [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/how-does-a-balanced-market-affect-home-buyers-and-sellers/">How Does A Balanced Market Affect Home Buyers and Sellers?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><span style="font-weight: 400;">The housing market is changing and it is more beneficial right now to home sellers than home buyers. With demand for new homes and existing homes out-stripping supply, the real estate market has been dubbed a “seller’s market”. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">With property prices continuing to rise and the market heading towards a seller&#8217;s market, the question is how the current market conditions now affect home buyers.</span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">What Is A Seller’s Market?</span></h2> <p><b>A seller’s market is when demand exceeds supply, which means there are more interested buyers than there are homes available. This makes it an advantageous situation for sellers.</b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">In a seller’s market, homes sell faster, and buyers must compete with each other. These conditions make buyers willing to spend more on a home than they would otherwise. Sellers can raise their asking prices because of the increased interest in property. Furthermore, due to the lack of power buyers have in this kind of market, they are more likely to accept properties</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Due to the shortage of housing in California, many buyers are willing to pay more than the asking price. Bidding wars arise when buyers make competing offers and drive up the price of a home.</span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">How Did We Get a Seller’s Market?</span></h2> <p><b>In a seller’s market, homes or properties remain on the market for a short time and it is easier to sell them quickly. A number of factors contribute to a seller’s market including: low interest rates for property financing, job growth in the local economy, restrictions imposed by authorities which keep inventory low.</b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">The city of San Francisco is becoming increasingly expensive. Why? One big reason is that a large number of high-paying technology jobs have opened up in the city, which has attracted thousands of tech workers to the area &#8211; some even commuting from as far away as Los Angeles! With more people employed and looking for homes than can be rented or purchased, the demand outweighs the supply &#8211; meaning prices are higher than ever before.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Even as the COVID-19 pandemic threatened to turn San Francisco’s seller’s market into a buyer’s market in 2020, buyers took advantage of record-low mortgage rates to make offers on the limited number of homes on the market. </span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">What Are Some Techniques in Competing in a Seller&#8217;s Market?</span></h2> <p><span style="font-weight: 400;">A seller&#8217;s market is a real estate term that refers to a situation in which there are many potential home buyers but relatively few homes for sale. The result is a market where sellers generally set the terms of the sale, and buyers need to compete for the available properties.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">In a seller&#8217;s market, you may have to compete against other buyers who are willing to pay more than the asking price. If you&#8217;re planning to sell your home in a seller&#8217;s market, you might want to start by getting your home in tip-top shape to get the highest price for it.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Here are a few extra tips for both buyers and sellers in a seller’s market:</span></p> <h3><span style="font-weight: 400;">Tips For Home Buyers (in a Seller&#8217;s Market)</span></h3> <p><span style="font-weight: 400;">Whenever there’s a limited supply of houses on the market and a wealth of interested buyers, time is of the essence. The longer you wait, the more likely it is that someone else will snap up your dream home.</span></p> <p>&nbsp;</p> <p><b>Act fast: </b><span style="font-weight: 400;">If you find your dream home during a seller’s market, it is in your best interest to act fast. You should get preapproved for a loan ahead of time so that financing is in order when you need it.</span></p> <p>&nbsp;</p> <p><b>Know you’re at a disadvantage:</b><span style="font-weight: 400;"> When it comes to making an offer on a home, there are certain things you should keep in mind. First, you’re the party at a disadvantage because of the seller’s market. Instead of trying to get away with offering concessions or asking for repairs to be made, focus on what’s most important to you in your offer. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you want to negotiate with a seller, make sure that you have a written contract. Be careful about stipulations that might be included in it because there is no guarantee that they will be in your best interest. An all-cash offer might be preferable.</span></p> <p>&nbsp;</p> <p><b>Be patient:</b><span style="font-weight: 400;"> If you are a buyer, and you keep losing out on the homes you’re interested in, it’s important to be patient and not get discouraged. Many buyers end up suffering during a seller’s market because they get frustrated. Homebuyers who are inexperienced in the market can get caught up in bidding wars. They’ll often offer more money than a home is worth, just to get their dream home. That’s always a mistake.</span></p> <p>&nbsp;</p> <p><b>Don’t settle:</b><span style="font-weight: 400;"> Essentially, buyers will often end up buying properties they would not have otherwise been interested in. This can be because of the “seller’s market” or because they are tired of losing out on good deals. Remember that any property is a large investment and often a 30-year commitment. Don’t settle on a home just because it’s cheaper. You should wait it out and resume your home search after the market cools down.</span></p> <p>&nbsp;</p> <h3><span style="font-weight: 400;">Tips For Home Sellers (in a Seller&#8217;s Market)</span></h3> <p><span style="font-weight: 400;">In a seller’s market, sellers must compete with each other to attract buyers. To do this, you must have your property in top condition and priced competitively.</span></p> <p>&nbsp;</p> <p><b>Clean and organize:</b><span style="font-weight: 400;"> For starters, make sure that you have a clean, well-organized home before you begin marketing or showing the property.</span></p> <p>&nbsp;</p> <p><b>Price fairly:</b><span style="font-weight: 400;"> Homes typically sell for more money in a seller&#8217;s market, but setting your home’s price too high becomes a deterrent for buyers. Pricing your listing at or slightly below fair market value tends to attract the most interested homebuyers. While some sellers choose to list their homes for slightly less than the assessed value in order to entice bidders, this approach can present an affordability issue for buyers because an artificially low listing price also represents lower profit potential for them.</span></p> <p>&nbsp;</p> <p><b>Carefully consider offers:</b><span style="font-weight: 400;"> During a seller&#8217;s market, it&#8217;s more important than ever to carefully review the offers you receive. In such a competitive environment, sellers can become so focused on choosing the highest offer that they fail to examine the strength of any buyer&#8217;s offer. Just because someone might say they&#8217;ll pay a certain amount for your home doesn&#8217;t necessarily mean that they&#8217;ll have a lender willing to allow that buyer to borrow more than what is considered the assessed value of your property. This can be problematic for buyers who are already operating under tight restrictions when it comes to their maximum purchase price.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you&#8217;re going with a traditional sale on your home, it&#8217;s always a good idea to get at least three comparable sales. The more comparable sales as a model, the more likely you can set an accurate asking price for your home in today&#8217;s market. The last thing you want is taking what could be an unrealistic offer and losing out on potential offers only because your home will not show well after being on the market for some time. ​</span></p> <p>&nbsp;</p> <p><b>Ensure pre approval:</b><span style="font-weight: 400;"> Before any buyers can start purchasing property, they need to be certain that they have the means to buy. There are two ways to guarantee a loan will be approved; verified and pre-approved. This way, borrowers must provide certain financial information, making it more likely that they’ll not only be able to purchase a house but get one for the amount of money they have planned on spending. Lenders also provide sellers with an estimate when providing pre-qualification; however, this is different because there is much less security than with verifying their finances and determining which type of loan fits within their means better.</span></p> <p>&nbsp;</p> <p><b>Be aware of contingencies:</b><span style="font-weight: 400;"> Mortgage contingencies, home sale contingencies, appraisal contingencies and inspection contingencies are tools that real estate agents can use to protect buyers and sellers. Most of the time, these types of contingencies are a good thing because they provide buyers with some protection if something goes wrong during the process. For example, home insurance provides protection for potential purchasers who don’t want to risk being stuck with a property worth less than what it cost them to buy.</span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">The Importance of Working with A Trusted Real Estate Agent in a Seller’s Market </span></h2> <p><span style="font-weight: 400;">Whether you’re selling or buying a home, you need to work with a trusted real estate agent who understands the real estate market in your region. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">With years of experience helping home buyers and sellers in the Bay Area, I have extensive knowledge of the local real estate market and best neighborhoods for singles, families, retirees, and professionals. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Whether you want to sell or buy a home in Rose Garden, San Jose, Los Gatos, Campbell Willow Glen, San Jose, Morgan Hill, Gilroy, or Saratoga, I can provide you with tips to give you more negotiating power and leverage through a customized marketing plan. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">For instance, if you’re a seller, I generally recommend staging, renovating outdated rooms, and other practices to generate as much interest as possible. And if you’re a buyer, I could help you negotiate the price down and enjoy the best terms on the deal. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you want to learn more about getting the best deal in real estate, </span><a href="https://talktocj.com/meet/"><span style="font-weight: 400;">schedule your free consultation</span></a><span style="font-weight: 400;"> by calling at </span><b>(408) 539-6802</b><span style="font-weight: 400;"> or </span><a href="https://talktocj.com/meet/"><span style="font-weight: 400;">visiting my website</span></a><span style="font-weight: 400;">. I’m so excited to hear from you soon!</span></p> <p>The post <a rel="nofollow" href="https://talktocj.com/how-does-a-balanced-market-affect-home-buyers-and-sellers/">How Does A Balanced Market Affect Home Buyers and Sellers?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> What Do I Need to Know about Private Mortgage Insurance (PMI)? https://talktocj.com/what-do-i-need-to-know-about-private-mortgage-insurance-pmi/ Talk to CJ urn:uuid:770ea5e2-76a9-0cda-995e-1feda5ad86c3 Wed, 26 Jan 2022 07:38:02 -0500 <p>In today&#8217;s real estate market, lenders won&#8217;t give home loans to potential borrowers unless they can demonstrate the ability to repay their loans. Borrowers in the Sacramento area who have a down payment of 20 percent or less will likely have to pay Private Mortgage Insurance (PMI) on their loan.  &#160; A PMI is typically [&#8230;]</p> <p>The post <a rel="nofollow" href="https://talktocj.com/what-do-i-need-to-know-about-private-mortgage-insurance-pmi/">What Do I Need to Know about Private Mortgage Insurance (PMI)?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><span style="font-weight: 400;">In today&#8217;s real estate market, lenders won&#8217;t give home loans to potential borrowers unless they can demonstrate the ability to repay their loans. Borrowers in the Sacramento area who have a down payment of 20 percent or less will likely have to pay Private Mortgage Insurance (PMI) on their loan. </span></p> <p>&nbsp;</p> <p><b>A PMI is typically required on home loans that are 80 percent or greater. However, there are some exceptions to this rule. </b><span style="font-weight: 400;">As home prices rise in the San Francisco Bay Area, it&#8217;s important to learn all you can about private mortgage insurance and how it may affect your home-buying plans.</span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">What is Private Mortgage Insurance (PMI)?</span></h2> <p><b>Private Mortgage Insurance (or PMI) is insurance that protects the lender from defaulting on their investment in your home. When you take out an FHA-insured loan, you are required to pay for this insurance for the entire life of your loan.</b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">The monthly fees on a PMI typically range between 0.58% and 1.86% of the original loan amount that rolls into your mortgage payment. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">But once you have built equity of 20% in your property, you can cancel your PMI to eliminate this additional expense from your monthly mortgage payment. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Take note that PMI only applies to conventional loans, which are mortgage loans not insured or guaranteed by any government agency (e.g., FHA, Department of Veterans Affairs, and Department of Agriculture loan programs). Meanwhile, government-backed mortgage loans have their own version of mortgage insurance. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you’re considering a conventional loan and planning to put in less than a 20% downpayment, make sure that you ask your lender about their terms for canceling PMI. </span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">How is PMI Different from Other Mortgage Insurances? </span></h2> <p><b>Because PMI only applies to conventional loans, it has a different set of rules than mortgage insurance that applies to government-backed mortgage loans.</b><span style="font-weight: 400;"> For instance, most FHA home loans require an upfront premium mortgage insurance and an annual premium regardless of the amount of money you put down. </span></p> <p>&nbsp;</p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The upfront premium is 1.75% of the total loan amount. </span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The annual mortgage insurance premium or MIP ranges between 0.45% and 1.05% of the loan’s average outstanding balance for that year. </span></li> </ul> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you put down less than 10%, you pay MIP in monthly installments for the life of the FHA loan. But if your down payment is more than 10%, you only need to pay for it for 11 years. </span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">Can I Avoid Having Private Mortgage Insurance (PMI)?</span></h2> <p><b>If you want to avoid paying for PMI, the solution is a straightforward one – put down 20% or more when buying a home. When you do this, lenders see your loan as “less risky,” so they won’t need this insurance that protects them if you end up in foreclosure. </b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">In case you don’t have enough funds to put down 20%, there are ways that could help you raise money. For instance, you may have an existing home that you want to sell. By buying and selling simultaneously, you can take the equity you earn from the sale of your original primary residence to your new home. </span></p> <h2><span style="font-weight: 400;">Can I Remove Private Mortgage Insurance (PMI) on a Loan I Got Years Ago with FHA?</span></h2> <p><span style="font-weight: 400;">If you have a mortgage backed by the Federal Housing Administration (FHA), your mortgage insurance premium (MIP) will not automatically fall off. Your MIP is typically part of an 11-year payment plan. It lasts the whole length of the loan — or 11 years&#8211; if you made a 10% or bigger down payment.</span></p> <p>&nbsp;</p> <p><b>If you&#8217;re looking to get rid of mortgage insurance, you have two ways available to get rid of MIP: pay it off with your own money, or refinance into an FHA-streamlined loan.</b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">&#8220;After you have sufficient equity built up on your property, refinancing from an FHA or conventional loan to a new conventional loan would eliminate your MIP or PMI payments,” says CJ Brasiel, real estate specialist and host of the YouTube channel Talk to CJ.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">“This is possible as long as your LTV is at 80% or less.”</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Brasiel notes that it is possible to refinance into a different program, one where MIP or PMI is not required even with an LTV over 80%.</span></p> <p>&nbsp;</p> <h2><span style="font-weight: 400;">Let Me Help You Make Sense of Private Mortgage Insurance</span></h2> <p><span style="font-weight: 400;">As a real estate specialist and a qualified realtor with years of experience helping home buyers and sellers, I understand that the financial aspect is one of the things that confuse people. For this reason, I make sure that you know all the costs related to home buying.</span></p> <p>&nbsp;</p> <p><b>The true cost of homeownership is not just about the monthly principal and interest on your mortgage. You also need to factor in PMI (or MIP for FHA loans) if you don’t meet the 20% down payment requirement, homeowners association or HOA fees, closing fees, title fees, taxes, appraiser fees, and home inspection cost.</b></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">It’s not uncommon for homebuyers to think that monthly principal and interest on their mortgage are the “true” cost of homeownership. Unfortunately, this erroneous belief could result in financial surprises that could derail their monthly budget. As a result, it has become my advocacy to empower my clients with the right information to help them make the best decisions for themselves. </span></p> <p>&nbsp;</p> <p>Before you continue, check out below resources:</p> <ul> <li><a href="https://talktocj.com/buy/" target="_blank" rel="noopener"><strong>Buy with CJ</strong></a></li> <li><a href="https://talktocj.com/sell/" target="_blank" rel="noopener"><strong>Sell with CJ</strong></a></li> </ul> <p>&nbsp;</p> <p><span style="font-weight: 400;">If you want to learn more about PMI and other “less talked about” costs related to homeownership, call me at <strong>(408) 539-6802</strong>. You can also <a href="https://talktocj.com/meet/" target="_blank" rel="noopener">SCHEDULE A FREE CONSULTATION</a> if you’re looking for your dream home in the Bay Area that includes Rose Garden, San Jose, Los Gatos, Campbell Willow Glen, San Jose, Morgan Hill, Gilroy, and Saratoga. </span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Again, please call me at <strong>(408) 406-6035</strong>. Talk to you soon!</span></p> <p>The post <a rel="nofollow" href="https://talktocj.com/what-do-i-need-to-know-about-private-mortgage-insurance-pmi/">What Do I Need to Know about Private Mortgage Insurance (PMI)?</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> Can You Use Home Equity to Buy Another Home https://talktocj.com/can-you-use-home-equity-to-buy-another-property/ Talk to CJ urn:uuid:54224b47-5a4c-df61-d7f6-ab963857663a Wed, 19 Jan 2022 06:05:46 -0500 <p>If you're wondering if you can use your home equity to buy another property, the short answer is yes. But as with any financing option, it comes with pros and cons you need to consider.</p> <p>The post <a rel="nofollow" href="https://talktocj.com/can-you-use-home-equity-to-buy-another-property/">Can You Use Home Equity to Buy Another Home</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> <p><span style="font-weight: 400;">Can you use your home equity to buy another home? The short answer is yes – if you have a sufficient amount of equity in your primary residence. But as with any financing options, tapping into your home equity loan comes with some pros and cons you must weigh in before you proceed. </span></p> <p><span style="font-weight: 400;">To help you understand if a home equity loan is a viable financing option for you or whether you need to consider other alternatives, you must first know how it works. </span></p> <p>&nbsp;</p> <h2><strong>What is a Home Equity Loan?</strong></h2> <p><span style="font-weight: 400;">Home equity is the difference between your home&#8217;s worth and how much you owe your lender. Or simply put, it is the amount of your home that you actually own. That being said, the more mortgage payments you make, the more your equity grows. </span></p> <p><span style="font-weight: 400;">If you tap into your home equity loan, you receive it in a lump sum while paying back your lender in fixed installments. </span></p> <p>&nbsp;</p> <h2><strong>When Does It Make Sense to Tap into Your Home Equity Loan?</strong></h2> <p><span style="font-weight: 400;">Because this loan is received in a lump sum payment, you can increase your down payment, which comes with a notable financial advantage: You pay less money over the life of your loan toward your interest cost. </span></p> <p><span style="font-weight: 400;">And when you pay a higher down payment, specifically 20% or more of the home&#8217;s price, you also get to avoid paying for private mortgage insurance. By contrast, borrowers who make a DP of less than 20% typically need a PMI that usually ranges from 0.25% to 2% of the loan balance every year. </span></p> <p><span style="font-weight: 400;">Additionally, home equity loans typically come with lower fees and closing costs than personal loans and hard money. However, the biggest benefit of all is the opportunity to lower your interest rates. Since lenders feel this financing option is less risky because you use your primary residence as collateral, they usually offer lower rates. </span></p> <p><span style="font-weight: 400;">Simply put, using your home equity loan to buy another home is less expensive compared to most financing options out there. </span></p> <p>&nbsp;</p> <h2><strong>What are Some Possible Downsides of Home Equity Loans?</strong></h2> <p><span style="font-weight: 400;">As with any financing options, using your home equity to buy another home has risks. Take note that since your primary residence serves as collateral to secure the loan, you risk losing your home if you find yourself unable to make the payments. </span></p> <p><span style="font-weight: 400;">You also need to be honest with yourself, especially about your financial health, before you tap into your home equity because it may come with three &#8220;obligations.&#8221; First, you need to pay for the remaining balance on your primary residence, then your home equity loan, and the mortgage on your second home (if your loan is not large enough to cover the entire cost of the new house). </span></p> <p>&nbsp;</p> <h2><strong>Possible Alternatives to Home Equity Loans </strong></h2> <p><span style="font-weight: 400;">Just like home equity loans, you can buy a second home or an investment home with a home equity line of credit or HELOC, which is a revolving line of credit. Just like a credit card, once you repay your debt, your HELOC&#8217;s credit limit is reset. </span></p> <p><span style="font-weight: 400;">HELOC may be an excellent financing option if you only need money for a down payment for the meantime but expect to need funding in a year or two to finance renovations. </span></p> <p><span style="font-weight: 400;">However, HELOC is less predictable because of its variable interest rates, whereas home equity loans usually have a fixed rate. </span></p> <p><span style="font-weight: 400;">These are the other financing options you may want to consider.</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Personal loans. They generally come with higher interest rates than home equity loans and HELOC because they are unsecured loans.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Cash. It remains the best way to buy another house; however, not everyone has enough liquidity to make such a huge purchase. </span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Retirement savings. Your company may allow you to borrow a portion of your 401(k) plan at work; however, you most likely need to pay back the loan within five years, or sometimes sooner if you become unemployed. </span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Reverse mortgage. If you&#8217;re 62 years and older and plan to buy a rental home, you may want to consider a federally insured home equity conversion mortgage or HECM. This tax-free loan gives you an amount of cash based on your home&#8217;s equity and does not require you to make monthly mortgage payments as long as you live in the home. But once you move out, sell it, or die, anyone who gets to inherit it must pay the mortgage in full, in addition to the interest based on a variable rate accruing over the life of the loan. </span></li> </ul> <p>&nbsp;</p> <p>Before you continue, check out below resources:</p> <ul> <li><span style="text-decoration: underline;"><a href="https://talktocj.com/buy/" target="_blank" rel="noopener"><strong>Buy with CJ</strong></a></span></li> <li><span style="text-decoration: underline;"><a href="https://talktocj.com/sell/" target="_blank" rel="noopener"><strong>Sell with CJ</strong></a></span></li> <li><a href="https://talktocj.com/dei-certified/" target="_blank" rel="noopener"><span style="text-decoration: underline;"><strong>Diversity, Equity, and Inclusion Everyday</strong></span></a></li> </ul> <p>&nbsp;</p> <h2><strong>Second Home: Using a Home Equity Loan to Buy a New House</strong></h2> <p><span style="font-weight: 400;">No financing option is better than the other because it all depends on many factors. But in general, a home equity loan is an excellent way to finance a second home (either investment or second home) because it gives you a lump sum of money. And from an interest-rate perspective, it&#8217;s also better than HELOC that comes with variable rates. </span></p> <p><span style="font-weight: 400;">Meanwhile, HELOC might be a better option if you don&#8217;t need the money all at once and plan to spend it in stages. </span></p> <p><span style="font-weight: 400;">If you need to learn more about your financing options, call me at </span><strong>(408) 406-6035</strong><span style="font-weight: 400;"> or <a href="https://talktocj.com/meet/" target="_blank" rel="noopener"><span style="text-decoration: underline;"><strong>Schedule An Appointment With Me</strong></span></a>. </span></p> <p><span style="font-weight: 400;">Whether you&#8217;re planning to sell your home or buy a new home, my goal is to help you understand all the financing options so you can make the best decision. When you work with me, there are no nasty surprises and hidden fees that could derail your finances. </span></p> <p><span style="font-weight: 400;">When you equip people with the right information, they enjoy the experience that comes with buying and selling their home. For this reason, I believe that the most important things in the real estate industry are transparency and honesty. </span></p> <p>&nbsp;</p> <p>The post <a rel="nofollow" href="https://talktocj.com/can-you-use-home-equity-to-buy-another-property/">Can You Use Home Equity to Buy Another Home</a> appeared first on <a rel="nofollow" href="https://talktocj.com">Talk to CJ</a>.</p> DWELL Real Estate is now Corcoran Dwellings https://www.dwellingwell.com/blog/dwell-real-estate-is-now-corcoran-dwellings/ Sarasota Real Estate News & Blog urn:uuid:d5703216-0a92-6435-5604-c6d4a0f52a96 Sun, 16 Jan 2022 14:30:32 -0500 It is official! <img src="https://assets.site-static.com/userfiles/3190/image/CorcoranDwelling_Social_1x1_Illustration_LWYA.jpg" width="400" height="400" alt="Massoni Corcoran Dwellings" title="Massoni Corcoran Dwellings" style="float: right;" />We are proud to announce that DWELL Real Estate has joined the Corcoran family and is now known as Corcoran Dwellings. We did this just a few months after our 10 year anniversary of opening. We put a lot of thought into this decision. While, we loved being an independent brokerage, we simply couldn't pass up the opportunity to affiliate with this well known brand. We are big fans of the Corcoran story and marketing. (<a href="https://www.corcoran.com/about-us">The Corcoran Story</a>) Our fabulous, small group of Realtors in Sarasota and St. Petersburg sold over $200,000,000 in 2021, so we didn't make this decision out of desperation. At the end of the day, the biggest reason we made this decision was to improve our clients real estate experience. We look forward to serving our wonderful community. Marc Rasmussen<br /> Broker/Owner of Corcoran Dwellings <img src="https://assets.site-static.com/userfiles/3190/image/agents/Marc_WEB2.jpg" width="200" height="300" style="float: left;" /> Just Sold by DWELL https://www.dwellingwell.com/blog/just-sold-by-dwell/ Sarasota Real Estate News & Blog urn:uuid:f339eb8e-4502-6079-2b4d-bc64a39772d3 Sun, 08 Aug 2021 12:51:39 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/DWELL June 2021 Sales.png" alt="Sold by DWELL June 2021" width="300" height="240" class="img_box_right" /> Below are recently sold <a href="https://www.dwellingwell.com/sarasota-homes-for-sale.php">homes</a> and <a href="https://www.dwellingwell.com/sarasota-condos.php">condos</a> that DWELL Real Estate was fortunate enough to be involved in this year. Hopefully, this information helps educate you on the local real estate market.&nbsp;If you are thinking of buying or selling in Sarasota, <a href="https://www.dwellingwell.com/bradenton-real-estate.php">Bradenton</a>, <a href="https://www.dwellingwell.com/lakewood-ranch-real-estate.php">Lakewood Ranch</a>, <a href="https://www.dwellingwell.com/longboat-key-real-estate.php">Longboat Key</a>, <a href="https://www.dwellingwell.com/lido-key-real-estate.php">Lido Key</a>, <a href="https://www.dwellingwell.com/siesta-key-real-estate.php">Siesta Key</a>, <a href="https://www.dwellingwell.com/bird-key-real-estate.php">Bird Key</a>, <a href="https://www.dwellingwell.com/downtown-sarasota-real-estate.php">Downtown&nbsp;</a>or <a href="https://www.dwellingwell.com/casey-key-real-estate.php">Casey Key</a> we would be happy to help you.&nbsp;If you are thinking of buying or selling in <a href="https://www.dwellingwell.com/st-petersburg-fl-real-estate.php">St. Petersburg</a>, <a href="https://www.dwellingwell.com/clearwater-real-estate.php">Clearwater</a>, <a href="https://www.dwellingwell.com/largo-real-estate.php">Largo</a>, <a href="https://www.dwellingwell.com/pass-a-grille-real-estate.php">Pass-A-Grille</a>, <a href="https://www.dwellingwell.com/downtown-st-pete-real-estate.php">Downtown St. Pete</a>&nbsp;or <a href="https://www.dwellingwell.com/treasure-island-real-estate.php">Treasure Island</a>&nbsp;our St. Pete office is available to assist. Just call us 941.200.HOME or <a href="https://www.dwellingwell.com/contact.php">contact us here</a>. Use our <a href="https://www.dwellingwell.com/idx/">MLS search</a> to view properties currently for sale.&nbsp;&nbsp; June&nbsp;2021 6720 121ST AVE, #4, LARGO <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/6720 121ST AVE 4 LARGO.jpeg" alt="6720 121ST AVE, #4, LARGO" width="800" height="600" class="img_box_center" /> Sold&nbsp;By:&nbsp;Marie Hodges &nbsp;| &nbsp;List Price: $149,900&nbsp; | &nbsp;Sold Price:&nbsp;$145,000 Cozy 2/1 townhouse in prime and central largo location. This property features brand new installed laminate flooring in the first floor and new installed carpet in the second floor. Property freshly texturized and painted with new installed ceiling fans and lighting. Property in immediate proximity to US 19, multiple shopping plazas and restaurants. 3329 WHISPERING DR N, LARGO <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/3329 WHISPERING DR N LARGO.jpeg" alt="3329 WHISPERING DR N, LARGO" width="800" height="534" class="img_box_center" /> Sold&nbsp;By:&nbsp;Helen Greiner &nbsp;| &nbsp;List Price: $250,000&nbsp; | &nbsp;Sold Price:&nbsp;$250,000 Welcome to this adorable and super charming 2br/2ba home nestled in the Tall Pines subdivision in the heart of Largo- NO HOA or flood insurance! Great curb appeal welcomes you and this home features NEW Hardie 15 Color Plus board siding. Pride of ownership radiates throughout this beautiful home! You will immediately take note of the VAULTED CEILINGS and WOOD laminate flooring throughout. All windows and exterior doors have been replaced with HURRICANE RATED materials. The beautiful master suite includes a large WALK IN CLOSET with in-closet Champion Series Model 5000-25 safe (purchase price $2,377+) and a private UPDATED master bathroom. The secondary bedroom is oversized with two closets and the guest bathroom has been updated to include a deep soaker tub. Enjoy relaxing or entertaining on your NEW LARGE SCREENED LANAI complete with gorgeous 5 person Waterfall hot tub/spa! This private paradise overlooks your FENCED BACKYARD with patio space, room to garden, and storage. The OVERSIZED garage offers tons of great storage space. This home is perfectly located only minutes from Florida's best beaches, with easy access to both downtown St. Pete, Tampa International Airport (and St.Pete-Clearwater Airport), and a bounty of shopping options and restaurants. Schedule your showing today before this picture-perfect home is gone! 4711 55TH AVE N, ST PETERSBURG <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/4711 55TH AVE N ST PETERSBURG.jpeg" alt="4711 55TH AVE N, ST PETERSBURG" width="514" height="386" class="img_box_center" /> Sold&nbsp;By:&nbsp;Kyle Hickey &nbsp;| &nbsp;List Price: $220,000&nbsp; | &nbsp;Sold Price:&nbsp;$220,000 Adorable 3/1 Home with 964 sqft in Holdcroft Heights. 14606 SUNDIAL PL, LAKEWOOD RANCH <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/14606 SUNDIAL PL LAKEWOOD RANCH.jpeg" alt="14606 SUNDIAL PL, LAKEWOOD RANCH" width="800" height="603" class="img_box_center" /> Sold&nbsp;By:&nbsp;Clare Kirchman &nbsp;| &nbsp;List Price: $835,000&nbsp; | &nbsp;Sold Price:&nbsp;$870,000 Welcome Home. This Grand Monarch V model aims to impress with 5 BD &amp; 4 Full Bath with impressive 12 FOOT CEILINGS. This 4082 sq ft beauty boasts NO CARPET THRUOUT, Stacked windows for additional lighting, 2 Ensuites (1st floor), 2 offices, Great rm, bonus rm, formal living rm &amp; sep dining rm. NEW EnSuite added 2020, included NEW Bathroom with quartz countertop and disabled access shower. Perfect set up for the in-laws. You will fall in love with this huge lanai and custom 16,000 gallon 36x18&rdquo; SALT water HEATED POOL with SPA, water cannons, and a new automated system app to run it all. New Pool Heater 2019. Custom outside kitchen with gas grill and seated bar overlooking a tranquil water view &amp; private preserve. This very well appointed home and lanai were built for entertaining. Chef&rsquo;s kitchen w/ stainless steel GE Pro appliances, built in wall oven, dry bar, solid wood cabinets, gas cooktop, granite, lg pantry and ample counter space to work. At the end of a long day retreat to your beautifully appointed owner&rsquo;s suite. Master bath has gorgeous granite dual counters, Jacuzzi tub and walk in shower with a view of the private courtyard and fountain. Oversized 3 CAR GARAGE was enlarged at time of building, measures 32x23 (bring your big truck), 220 line for generator (generator not included). LOW HOA fees of $105 annually. 2018 Entire house interior &amp; exterior painted. Additional upgrades include every room is wired for ceiling speakers, in wall central vacuum system, Water softener entire house, crown molding, trey ceilings, 2nd story bonus room with screened in balcony, &amp; A/C has hypo allergenic system added. The sought after Greenbrook preserve located in the heart of LWR with great amenities such as a park, playground and trails. Close to top rated schools, McNeal Elementary &amp; Nolan Middle. Also close to gorgeous beaches, restaurants, shopping, and entertainment. 20215 MERRY OAK AVE, TAMPA <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/20215 MERRY OAK AVE TAMPA.jpeg" alt="20215 MERRY OAK AVE, TAMPA" width="800" height="516" class="img_box_center" /> &nbsp;Listed &amp; Sold&nbsp;By:&nbsp;Kyle Hickey&nbsp;&nbsp;| &nbsp;List Price: $330,000&nbsp; | &nbsp;Sold Price:&nbsp;$330,000 Beautiful home in Live Oak Preserve. Located on a quiet street with a conversation green area and partial pond view. Split bedroom floor plan with two living spaces. Open concept kitchen and family room that looks out to the stunning pool w/ birdcage and patio. High ceilings throughout. Indoor laundry room + bonus office space. Gated community with many amenities such as a pool, fitness center, clubhouse, playground, miles of walking paths, etc. Four-zone sprinkler system, two-car garage, granite countertops, gutters on the entire home, Pool + birdcage (2009), wood flooring in the bedrooms, gas range/dryer/water heater. This stunning home is move-in-ready. 7310 DUNES CT, BRADENTON <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/7310 DUNES CT BRADENTON.jpeg" alt="7310 DUNES CT, BRADENTON" width="800" height="600" class="img_box_center" /> Listed&nbsp;By:&nbsp;James Tassell&nbsp;&nbsp;| &nbsp;List Price: $450,000&nbsp; | &nbsp;Sold Price:&nbsp;$425,000 Looking for a pool home in a desirable location? Then consider this open floor plan, two bedroom, two bathroom - complete with den - property in the River Club community. This carpet-less home features tile flooring throughout the living areas, granite counter tops in the kitchen, a formal dining room, and a breakfast nook area. The master bedroom includes laminate flooring with sliding glass doors that provide access to the pool. The ensuite master bathroom has both a walk-in shower, bathing tub, and a walk-in closet for your convenience. The guest bedroom is located at the front of the home and features laminate flooring, as does the den which is ideally setup as a home office but can be used as an additional bedroom when needed. When you are ready to cool off or enjoy some sun you can head to the screened in paver lanai area which offers a good size pool with privacy. This is a great spot to enjoy your morning coffee or for entertaining family and friends. You will have plenty of time to enjoy everything the Lakewood Ranch, Bradenton and Sarasota area has to offer since this home is located in the maintenance free section of River Club, so all aspects of your landscaping are taken care of by the HOA. The A/C system is newly installed. Minutes away by car are grocery stores, restaurants, and other retail needs. The beaches and downtown Sarasota are a 20-30 minutes drive. River Club is a golf course community but owners do not have any associated golf fees and can chose to play and pay as they wish in addition to the many other courses nearby. If a desirable location, pool, and open floor plan are high on your list, then check out this home! 0 SE 135 CT, DUNNELLON <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/0 SE 135 CT DUNNELLON.jpeg" alt="0 SE 135 CT, DUNNELLON" width="800" height="334" class="img_box_center" /> Sold&nbsp;By:&nbsp;Marie Hodges &nbsp;| &nbsp;List Price: $10,400&nbsp; | &nbsp;Sold Price:&nbsp;$10,400 Great 1 acre lot in Rainbow Lakes Estates. Come build your dream home. 2966 TRUSTEE AVE, SARASOTA <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/2966 TRUSTEE AVE SARASOTA.jpeg" alt="2966 TRUSTEE AVE, SARASOTA" width="800" height="533" class="img_box_center" /> Sold&nbsp;By:&nbsp;James Tassell &nbsp;| &nbsp;List Price: $369,000&nbsp; | &nbsp;Sold Price:&nbsp;$369,000 Most Popular Medallion Home.....this seldom available Anna Maria model is a 2 bedroom/2 bath plus Den, open great-room plan. It&rsquo;s the largest model with over 1600 square feet. Original owner selected this premium lot with a lake view, southern exposure and location in the back of the community. It is away from the street, yet just steps to the community pool and dog park. This maintenance-free villa is tastefully appointed, light and bright with designer finishes throughout. The chef in you will love cooking in the spacious kitchen which boasts gas range; stone counters; decorative backsplash; island with dining capabilities and stainless steel appliances. Great room opens to an extended, screened lanai complete with sun space as well as shade. The master suite is spacious and has a lake view. The master bath is has double vanities and a walk-in shower. Comfortable guest bedroom is conveniently located to guest bath. If you work from home or need an additional bedroom... this home is perfect. A 2 car garage with a paver driveway. University Village is a gated community with a heated pool, community center, dog park, maintenance free landscaping and NO CDD FEES! Association fees include cable and internet, natural gas and sidewalks. Sarasota and all it has to offer is just minutes away. Lido and Siesta Key beaches, Downtown, St. Armands Circle, UTC, and Lakewood Ranch where you can enjoy world-class shopping, dining, cultural venues, top-notch medical facilities and Sarasota-Bradenton International Airport. This is a must see!! Live the ultimate Florida Lifestyle! 3590 25TH AVE N, ST PETERSBURG <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/3590 25TH AVE N ST PETERSBURG.jpeg" alt="3590 25TH AVE N, ST PETERSBURG" width="800" height="504" class="img_box_center" /> Sold&nbsp;By:&nbsp;Marie Hodges &nbsp;| &nbsp;List Price: $268,000&nbsp; | &nbsp;Sold Price:&nbsp;$265,000 Wow! This CONCRETE BLOCK, 1165 SF, 2 BDRM/1BTH/1 Car Garage FENCED in home includes two additional rooms, a separate enclosed dining room/Florida room, as well as an enclosed Sun-Room/Lanai(143 SF) for a total SF of 1165. There are many updates such as New Windows, New Ceiling Fans, ALL NEW Carpet and flooring, Updated Electrical switches/plugs, ALL NEW Inside Painting, NEW DIGITAL IRRIGATION Control Unit, NEW GARAGE DOOR. This home has a nicely landscaped yard with a 4 zoned irrigation system with a well, a nice size garage, shed/workshop, Osmosis system/water softener, and MUCH MORE!&nbsp; 5315 40TH ST N, ST PETERSBURG <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/5315 40TH ST N ST PETERSBURG.jpeg" alt="5315 40TH ST N, ST PETERSBURG" width="800" height="533" class="img_box_center" /> Sold&nbsp;By:&nbsp;Kyle Hickey &nbsp;| &nbsp;List Price: $269,000&nbsp; | &nbsp;Sold Price:&nbsp;$260,000 Welcome home to this beautiful and spacious 3 bedroom 1 bath St. Petersburg home with a studio apartment 1 bath 'she-shed!' If you are looking for the perfect starter or family home, look no further. GREAT backyard that is enclosed with a BRAND NEW FENCE with enough room for an outdoor entertainment area or additional storage. This home has been TOTALLY RENOVATED by the owner and includes upgrades perfectly fit for a first-time homebuyer or growing family. The totally remodeled kitchen features solid wood Jarlin cabinets, granite countertops, stainless steel appliances, custom backsplash, and an upgraded faucet. The bathroom features the same level of upgrades including a new tub, granite countertops, tile surround, and anti-fog mirror. The studio 'she-shed' comes equipped with one full bathroom, window AC unit, and a kitchenette. Other upgrades include NEW WINDOWS (2021), NEW WATER HEATER (2021), NEW ELECTRICAL PANEL (2021), NEW MOISTURE PROOF LAMINATE FLOORS (2021), new interior &amp; exterior paint, and MORE!! All of these amenities and upgrades are complemented by the unique curb appeal of the home which sits on a quiet street! This home has many desirable features and is a must-see. 00 SE 133RD AVE, DUNNELLON <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/00 SE 133RD AVE DUNNELLON.jpeg" alt="00 SE 133RD AVE, DUNNELLON" width="800" height="688" class="img_box_center" /> Sold&nbsp;By:&nbsp;Marie Hodges &nbsp;| &nbsp;List Price: $10,000&nbsp; | &nbsp;Sold Price:&nbsp;$6,000 Beautiful Vacant Lot in the Rainbow Lakes Estates Neighborhood ready for Your New Home. Close to shopping, restaurants, Down Town Dunnellon, Rainbow Springs State Park and close proximity to SR-40 &amp; SR 41. 9043 BRELAND DR, TAMPA <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/9043 BRELAND DR TAMPA.jpeg" alt="9043 BRELAND DR, TAMPA" width="800" height="533" class="img_box_center" /> Sold&nbsp;By:&nbsp;David M. George &nbsp;| &nbsp;List Price: $440,000&nbsp; | &nbsp;Sold Price:&nbsp;$530,000 This extremely well maintained 4 bedroom, 2 bathroom pool home resting on an amazing cul-de-sac and conservation lot is located in the highly sought after Reserve section of Fawn Ridge in the Westchase area. Enjoy a gorgeous updated kitchen with solid wood custom cabinetry and stainless steal appliances including a brand new double oven. Newly installed (April 2021) 14 SEER Champion HVAC system with 10 year parts and labor warranty. Pool Solar Panels 2019, Exterior Paint 2021, Water Heater and Water Softener June 2016, Salt Cell 2020, Pool Deck 2020, Roof with 30 year architectural shingles 2013. Enjoy walking, jogging &amp; biking to a county park with lighted tennis courts, pavilion and picnic tables, and playground with baseball and basketball! Location! Location! Location! A++ schools! Just minutes from Upper Tampa Bay Trail, Suncoast Expressway, Shopping centers and Restaurants. No CDD, Low HOA. AND THE NEW OWNER WILL HAVE THE AMAZING BENEFIT OF THE LONG AWAITED AND ALMOST COMPLETE CITRUS PARK DRIVE EXTENSION MAKING THE COMMUTE TO DEER PARK ELEMENTARY AND FARNELL MIDDLE SCHOOL A DREAM! 1766 MARYLAND AVE NE, ST PETERSBURG <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/1766 MARYLAND AVE NE ST PETERSBURG.jpeg" alt="1766 MARYLAND AVE NE, ST PETERSBURG" width="800" height="533" class="img_box_center" /> Sold&nbsp;By:&nbsp;Kyle Hickey&nbsp; | &nbsp;List Price: $350,000&nbsp; | &nbsp;Sold Price:&nbsp;$350,000 LOCATION! LOCATION! Welcome to your home in sought after Shore Acres community. Located just minutes to downtown St Pete, local parks, kayaking, shopping and community Rec Center. As soon as you open the door you will be greeting with an open light and bright spacious living/dining room combo. Everything has already been done and this solid block home is ready for you to move right in! Great layout for family and working from home. Interior features include; Kitchen with gas stove, spacious shaker cabinets and stone quartz counters; beautiful porcelain tile flooring throughout the home; Energy efficient windows with new custom accordion blinds; fresh interior paint and crown molding; Large extra storage closet in hallway; A separate laundry room off kitchen offers full size front load washer/dryer and access door to outside. Low maintenance yard has mature landscaping and a nice fenced in private yard in the back with paved patio and garden boxes. New Hot water heater 2020; AC 2015 and Roof 2012; Enjoy a short commute for a day at one of the award winning Gulf Beaches. Back on the Market, not related to the home. All inspections completed and move in ready! 2339 ORANGESIDE RD, PALM HARBOR <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/2339 ORANGESIDE RD PALM HARBOR.jpeg" alt="2339 ORANGESIDE RD, PALM HARBOR" width="800" height="460" class="img_box_center" /> Sold&nbsp;By:&nbsp;Helen Greiner &nbsp;| &nbsp;List Price: $350,000&nbsp; | &nbsp;Sold Price:&nbsp;$350,000 Tropical POOL paradise in the heart of Palm Harbor! Loads of natural light spill through windows at every turn in this home highlighting the soft color pallet that compliments any decor. This home features an open floor plan, and offers a large island Kitchen that overlooks the Great room, Dining Room, Fireplace and Pool for an all inclusive gathering experience. The Custom Kitchen is every chefs dream with updated cabinetry, granite counters and an abundance of counter space. A large custom bank of built-in cupboards serves for tons of storage. 3 spacious Bedrooms and 2 full Bathrooms complete this classic. The heart of this home lives outdoors where you will enjoy the 9 FEET DEEP SALT WATER POOL tucked into your own private sanctuary, with lush tropical landscaping, hidden from the hustle and bustle of the city. This home is tailor made for entertaining, hosting BBQ&rsquo;s, Holiday gatherings and Birthday parties all year round with our beautiful Florida weather! The large screened lanai will hold the largest of family dinners, with plenty of room for your future outdoor kitchen. A quaint butterfly garden enhances your outdoor living experience as peace and tranquility abound in this slice of paradise. Situated on a large corner lot, secluded, yet located just minutes to all shopping, dining, and local beaches where some of the best sunsets on the globe can be savored! 17218 HARVEST MOON WAY, BRADENTON <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/17218 HARVEST MOON WAY BRADENTON.jpeg" alt="17218 HARVEST MOON WAY, BRADENTON" width="800" height="449" class="img_box_center" /> Sold&nbsp;By:&nbsp;Lionstone Group - Stephen Downes&nbsp; |&nbsp; Built&nbsp;Price: $377,490 Our Express Series homes at Solera in Lakewood Ranch combine quality and value backed by the peace of mind of using American&rsquo;s #1 Builder. Featuring all concrete block construction, well-appointed stainless-steel appliance packages, beautiful granite countertops in the kitchen, and the latest in energy efficiency measures, each home also includes our industry-leading suite of smart home products, keeping you connected with what matters most. Homeowners in Solera will enjoy lounging by a luxurious resort-style pool and clubhouse. 3611 1ST AVE S, ST PETERSBURG <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Just Sold Blog/June 2021/3611 1ST AVE S ST PETERSBURG.jpeg" alt="3611 1ST AVE S, ST PETERSBURG" width="800" height="533" class="img_box_center" /> Sold&nbsp;By:&nbsp;David M.&nbsp;George &nbsp;| &nbsp;List Price: $315,000&nbsp; | &nbsp;Sold Price:&nbsp;$315, Where are the listings? Homeowners are Staying Put and Here's Why https://www.dwellingwell.com/blog/where-are-the-listings-homeowners-are-staying-put-and-heres-why/ Sarasota Real Estate News & Blog urn:uuid:8cd3b2e0-d9d3-4f6c-d5cf-2209710ce592 Sun, 08 Aug 2021 11:53:52 -0400 <img src="/uploads/shared/images/Blog Images/LidoShores3.JPG" alt="" width="400" height="267" class="img_box_right" />Housing market inventory remains tight as homeowners hold onto their homes longer. The typical homeowner in 2020 had remained in place for 13 years, up slightly from 12.8 years in 2019 &ndash; but well ahead of 2010&rsquo;s reading of 8.7 years, according to an analysis by Redfin. About 1 in 4 U.S. homeowners has lived in the same home for more than 20 years, the study found. Still, even with the pandemic, home sales&nbsp;raged in 2020, pushing activity and sales prices to new heights. However, homeowners who decided not to sell did so because of pandemic concerns and concerns about finding a new house in a competitive market. Many also enjoyed ultralow interest rates after a refinance on their current home that made it more advantageous to stay put. A drop in sellers as owners stay in a current home longer forces the real estate markets to tighten, including the <a href="https://www.dwellingwell.com/sarasota-homes-for-sale.php">Sarasota</a> and <a href="https://www.dwellingwell.com/bradenton-real-estate.php">Manatee</a> County areas. Inventory&nbsp;sank to its&nbsp;lowest level in decades. This past December, Sarasota County had 2,394 active listings which was 43.3% fewer properties than December 2019. Manatee County&nbsp;had&nbsp;1,552 active listing, down 46.1%. At the current sales pace, there was a record-low 2 months&rsquo; supply of homes on the market in December for Sarasota County (down 47.4% from December 2019) and 1.7 months' for Manatee County (down 51.4% from December 2019). See our <a href="https://www.dwellingwell.com/sarasota-county-real-estate-market-statistics.php">Market Statistics</a> for a break down of the market. The market&rsquo;s home shortage and low borrowing rates have pushed up prices and increased buyer competition,&nbsp;Median Sale Price in December 2019&nbsp;reached $278,200 in Sarasota County and $288,000 in Manatee County. Fast&nbsp;Forward to December 2020, it stood at $320,000 in Sarasota County (up 15% in one year), and $317,500 in Manatee County (up 10.2% in one year). The charts below provide a great visual to see how things have changed for our market over the last two years.&nbsp; <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Active listing SRQ and Manatee.png" alt="" width="984" height="475" class="img_box_center" /> <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Months of Inventory SRQ Manatee.png" alt="" width="982" height="473" class="img_box_center" /> <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Median Sale Price SRQ and Manatee.png" alt="" width="980" height="472" class="img_box_center" /> Original Article:&nbsp;Why Aren&rsquo;t Homeowners Selling? Lots of Good Reasons&nbsp;| Wall Street Journal (01/21/21) Friedman, Nicole Graphs and Data sourced from SunStats / FloridaRealtors.org&nbsp; Buyers Should Think of Current Real Estate Market as an Auction https://www.dwellingwell.com/blog/buyers-should-think-of-current-real-estate-market-as-an-auction/ Sarasota Real Estate News & Blog urn:uuid:c2f276e9-84ea-f9e9-ce67-8eb0e206a10d Sun, 08 Aug 2021 11:05:51 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/market auction.png" alt="" width="350" height="350" class="img_box_right" />Buyers who head into the housing market believing they should get a home for less than the listing price may be very disappointed. Instead, they may want to think of an asking price more like the opening bid at an auction. Every listing in today&rsquo;s market receives an average of 5.1 offers, according to the National Association of Realtors&reg; (NAR). And half of homes sell above list price. &ldquo;Due to the low supply of houses for sale, many homes are now being offered in an auction-like atmosphere in which the highest bidder wins the home,&rdquo; according to an article at Keeping Current Matters. In actual auctions, sellers often set a reserve price, which is the minimum amount a seller will accept. In today&rsquo;s market frenzy, a home&rsquo;s listing price may be more like that reserve price &ndash; the starting point of a negotiation, knowing the seller will consider anything above that amount. About 40% of potential buyers who searched for a home this spring said they haven&rsquo;t bought yet because they keep getting outbid, according to a survey from the National Association of Home Builders. Knowing they have the upper hand, sellers have come to expect a bidding war for their home. A recent realtor.com survey found that 24% of homeowners expect to get more than their asking price, and 29% plan to set a list price that&rsquo;s more than what they think their home is worth. As a result, some buyers go to extremes to win a home they want. Real estate pros report that individual listings have received as many as 20 offers &ndash; one even got 97 bids &ndash; as the home buying frenzy continues. To win a bidding war, buyers may be willing to waive contingencies and stretch their budgets to the absolute max. There are cases where buyers have offered more than $100,000 above asking price to be sure they secure the property.&nbsp; Source: &ldquo;In Today&rsquo;s Market, Listing Prices are Like an Auction&rsquo;s Reserve Price,&rdquo; Keeping Current Matters (2021) Should I Waive My Home Inspection in a Competitive Market? https://www.dwellingwell.com/blog/should-i-waive-my-home-inspection-in-a-competitive-market/ Sarasota Real Estate News & Blog urn:uuid:f2d2f6ae-bff1-4faf-ca4c-c8cb6a940f2d Sun, 08 Aug 2021 10:37:22 -0400 By: Liane Jamason -&nbsp;<a href="https://www.lianejamason.com/featured/ask-a-real-estate-broker-should-i-waive-my-home-inspection-in-a-competitive-market/">Ask a Real Estate Broker: Should I Waive my Home Inspection in a Competitive Market?</a> <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Black mold.jpg" alt="" width="576" height="768" class="img_box_center" /> My sister and brother-in-law are trying to buy a home here in&nbsp;St. Petersburg, Florida&nbsp;or surrounding cities like&nbsp;Largo&nbsp;or&nbsp;Seminole, but like many other buyers in 2021, are getting frustrated. They&rsquo;ve put in several offers on homes they like under $400,000, but keep getting outbid by cash buyers and institutional buyers paying way over asking price in most cases. It&rsquo;s a tough situation to be in when you need to get a mortgage. Finally, we made an offer on one that got accepted &ndash; yay! We did a short inspection period and did our inspection on day 1 of the contract. Turns out, the inspector found mold. And lots of it, along with many other items of concern. You see the home was a flip. It looks fantastic on the inside! But one thing the inspector immediately noticed was that there were 2 AC units and the house was only 1,300 square feet. Odd, right? Turns out it was because the cathedral roof line meant there was no attic &ndash; so the prior owner apparently did an AC unit on each side of the home because there was nowhere to bring ductwork across the top of the house. Now normally I wouldn&rsquo;t think of too much AC being a bad thing&hellip;but apparently it can be! If you have oversized AC tonnage for the size of your home, it continually is pushing cool air and there&rsquo;s nowhere for humidity to escape to, which results in &ndash; you guessed it &ndash; MOLD. Both AC units were from 2006 too and on their last legs, and full of mold, as well as we could see streaks of mold all over the garage walls. So what&rsquo;s my point? I am seeing crazy things in contracts right now in this competitive Tampa Bay real estate market. Buyer&rsquo;s waiving appraisal contingencies, waiving inspections, throwing in their first born child&hellip;you name it. I am here to say &ndash;&nbsp;please don&rsquo;t waive your inspection contingency. Had we done that with my sister&rsquo;s house &ndash; we could have been stuck with a moldy house that could cost upwards of $30-50K between needing not one but TWO new AC units, new electrical panel and mold remediation done on the home and ductwork. I&rsquo;d even go so far as to recommend that it&rsquo;s not a bad idea to have a regular home inspection PLUS, if your inspector is not super well versed in AC systems, to have an AC guy evaluate the system. &nbsp;Just like if an inspector finds some cracked roof tiles, I&rsquo;d immediately call a roofer to come take a look too while we are still in our inspection window. The more expertise we can find with eyes on the potentially largest investment you&rsquo;ll ever make, the better. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Black Mold 2.jpg" alt="" width="546" height="768" class="img_box_center" /> What you&nbsp;can&nbsp;do to make your offer more attractive to a seller is limit your inspection period to say, 3 to 7 days (just make sure your inspector is readily available in advance). I&rsquo;d never recommend forgoing a home inspection unless your spouse or significant other is a certified general contractor or something along those lines who can recognize such issues. Otherwise, it&rsquo;s just too big a risk. In this case, my sister cancelled the contract rather than ask the seller to do repairs because, at this point, she doesn&rsquo;t trust them to actually remediate the situation properly, nor does she care to deal with doing the repairs on her end post-closing. I would&rsquo;ve done the same thing. It was pretty obvious there was lots of mold in the garage which she missed at her first showing because it was late in the day and lights were dim in the garage. Long story short &ndash; hang in there mortgage-needing buyers. &nbsp;Your future home is out there. &nbsp;Don&rsquo;t settle and don&rsquo;t forget to have it inspected early, and by more than one professional if need be. &nbsp;And contact our team of professional real estate agents here in Pinellas County (and beyond!) if we can help you find the one. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Agents/Hi-Res-Print-revised.jpg" alt="" width="300" height="420" /> Historic Downtown Sarasota Building Listed for $12.5 Million https://www.dwellingwell.com/blog/historic-downtown-sarasota-building-listed-for-125-million/ Sarasota Real Estate News & Blog urn:uuid:a61852ed-1e62-14fd-d8e2-bd16ed62b99d Sun, 08 Aug 2021 09:30:47 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Belle Haven Sarasota.png" alt="" width="400" height="270" class="img_box_right" />Perched between the 10-floor Hyatt Regency and the gleaming new 18-story <a href="https://www.dwellingwell.com/the-ritz-carlton-residences-sarasota.php">Ritz-Carlton condo tower</a> on 15 bayfront acres being developed under the umbrella of the&nbsp;<a href="https://www.dwellingwell.com/blog/quay-sarasota-unveils-plans.html">Quay&nbsp;Sarasota</a>, the Mediterranean Revival apartment building opened in 1926 and just hit the market for $12.5 million. The three-story Belle Haven has kept its good looks. Designed by architect Dwight James Baum, Belle Haven was originally known as Broadway Apartments and was one of the buildings in the Broadway Development that also included the Baum-designed John Ringling Towers and the headquarters of the&nbsp;Sarasota Times&nbsp;newspaper&ndash;now the upscale restaurant and bar Sage. After Belle Haven was completed, developer Owen Burns bought the building for $250,000 and named it El Vernona Apartments. When real estate crashed in the late &rsquo;20s, Sarasota resident Elmer Whittle took it over and renamed it Belle Haven. &ldquo;It is the last of the historic buildings that were once on that site,&rdquo; says Tony Souza of the Sarasota Alliance for Historic Preservation. &ldquo;By 1935, no further development had occurred in the area and all the other historic buildings on the Quay site were demolished.&rdquo; <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/Historic Belle Haven.png" alt="" width="400" height="266" class="img_box_left" />When it opened, Belle Haven had 20 furnished apartments. Residents had maid and janitorial services, a roof garden, kitchenettes with electric ranges, linens, silverware and dumbwaiters in each apartment. Boasting &ldquo;modern day living,&rdquo; its restrictions forbid cattle, horses and poultry. &ldquo;Furnished by Gimbels in New York, it was considered a very swanky building for people coming in the wintertime, and it attracted a lot of women because it was a safe place to be,&rdquo; Souza says. By the 1970s, it was an affordable apartment building and in&nbsp;1984, Belle Haven was listed on the National Register of Historic Places and was converted into 1,700- to 2,000-square-foot offices. A previous owner, Irish American Management Services, headed by Patrick Kelly, in 2004 announced plans for a $1 billion commercial and residential development on the site that included Belle Haven and Sarasota Quay, a massive pink multiuse development of upscale restaurants, retail, offices and a popular nightclub that was built in the 1980s. Kelly demolished Sarasota Quay in 2006 and said he would move and preserve Belle Haven. The real estate collapse during the Great Recession halted the project and led to foreclosure in 2013. Current owner GreenPointe Communities bought the entire Quay property the next year for $27 million. During the transition, Belle Haven stood forlorn, vacant and boarded up, an odd sight for what may be one of the most coveted pieces of real estate in the county. It even made its way onto a&nbsp;national list of haunted places, where one site contributor described capturing &ldquo;many pictures of orbs&rdquo; and a &ldquo;body apparition.&rdquo; No matter how it will eventually be used, Belle Haven is still beautiful. GreenPointe Communities rehabilitated it, and its stucco and cast stone exterior, barrel tile roof and iconic cupola stand strong. The 20,605-square-foot interior has been stripped down to what&rsquo;s known in the industry as a &ldquo;gray shell,&rdquo; allowing a new owner the flexibility to build it out as they choose. The doors, interior light well in the center of the building, pecky cypress ceiling beams on the first floor and the internal stairwells have been preserved. And it&rsquo;s still located along a coveted stretch of waterfront in <a href="https://www.dwellingwell.com/downtown-sarasota-condos-for-sale.php">downtown Sarasota</a>, with 475 feet of frontage along the lagoon next to Sarasota Bay, and close proximity to theaters, shopping, parks and St. Armands Circle. Zoned &ldquo;downtown bayfront,&rdquo; Belle Haven could be permitted for anything from a restaurant to retail to a private residence. Original Article from Sarasota Magazine:&nbsp;<a href="https://www.sarasotamagazine.com/home-and-real-estate/2021/03/belle-haven-apartments-sarasota">The Historic Belle Haven Building Hits the Market</a> Sarasota Makes Travel + Leisure's 10 Best U.S. Beach Towns to Live In List https://www.dwellingwell.com/blog/sarasota-makes-travel-leisures-10-best-us-beach-towns-to-live-in-list/ Sarasota Real Estate News & Blog urn:uuid:6b9b4eb3-0d4e-5ca8-7249-68540b70b18e Sun, 08 Aug 2021 09:30:46 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/GoldenGatePoint.jpeg" alt="" width="400" height="267" class="img_box_right" />Ocean breezes, endless sunshine, daily walks along the sand, and a laid-back way of life all entice Americans to relocate to the country's many beach towns. From charming cities on the California coast to Florida's popular shores, there are dozens of destinations to consider, so it can be hard to pick one as your new home. Thankfully, personal finance site&nbsp;WalletHub&nbsp;has determined the best beach towns to live in around the United States, ranking them according to 63 indicators, including affordability, weather, safety, economy, education and health, and overall quality of life. The top 10 ocean towns to live in (listed below) are unsurprisingly concentrated in states boasting ample coastline, like Florida, California, and Hawaii. WalletHub also looked at data like violent crime rates, water temperatures, nightlife establishments and restaurants per capita, and more to help you make the right decision. 4 Florida towns made the list with <a href="https://www.dwellingwell.com/blog/sarasota-vs-naples.html">Naples</a> taking the top spot. Sarasota is no stranger to these 10 ten lists but it's always great seeing our coastal town get national recognition for being a&nbsp;fabulous place to live. Here is the list: 1. Naples, Florida 2. Lahaina, Hawaii 3. Baca Raton, Florida 4. New Port Beach, California 5. Santa Monica, California 6. <a href="https://www.dwellingwell.com/sarasota-homes-for-sale.php">Sarasota, Florida</a> 7. Kailua, Hawaii 8. Carlsbad, California 9. Encinitas, California 10. Vero Beach, Florida Original Article:&nbsp;https://www.travelandleisure.com/trip-ideas/beach-vacations/wallethub-beach-towns-america Statistics Show April is the Best Month of the Year to Sell a Home https://www.dwellingwell.com/blog/statistics-show-april-is-the-best-month-of-the-year-to-sell-a-home/ Sarasota Real Estate News & Blog urn:uuid:5a401fa1-16df-dd88-6d43-e4ed89282412 Sun, 08 Aug 2021 09:30:46 -0400 <img src="/uploads/shared/images/Siesta Key/North SK7.JPG" alt="" width="400" height="267" class="img_box_right" />In today&rsquo;s market, it seems as if it&rsquo;s always a good time to sell a home because they&rsquo;re selling fast, often sight unseen. However, this month, depending on the city, may be the best time of the best times to sell a home, according to realtor.com&rsquo;s&nbsp;2021 Best Time to List&nbsp;analysis. From April 18-24, debuting home sellers should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, the study suggests. To determine the optimum time to list, the study considered competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com&rsquo;s website. Because of COVID&rsquo;s disruption in 2020, the analysis included 2018-2019 listing data. &ldquo;Unlike 2020 when COVID upended the spring home-buying season and pushed buyer interest to later in the year, this year&rsquo;s housing market is following more typical seasonal trends,&rdquo; says realtor.com Chief Economist Danielle Hale. &ldquo;With half as many homes available for sale this year than last, sellers are well positioned for a quick sale at top dollar. However, for most sellers, listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sale price. They&rsquo;ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.&rdquo; However, while that April sweet spot for listing a home may be true for most Florida metro areas, it&rsquo;s not so consistent in South Florida. According to realtor.com&rsquo;s analysis, the best day of the year for a seller to list a home in a major Florida metro is: Jacksonville: April 4 Miami-Fort Lauderdale-West Palm Beach: July 4 Orlando-Kissimmee-Sanford: April 25 Tampa-St. Petersburg-Clearwater, Fla.: April 25 What makes the week of April 18 stand out? Higher price: Homes listed next week typically sell 2% higher than the average week and 10.4% higher than at the start of the year. If 2021 follows the typical seasonal trend, a median priced home listed next week could sell for $7,500 above the average week and $36,000 more than it would have in early January. Strong buyer demand: Homes typically get 11% more views on realtor.com than the average week throughout the year. Less competition: Homeowners who listed during the week of April 18 in 2018 and 2019 saw 5% fewer sellers on the market compared to the average week throughout the year. Faster sale: Historically, homes listed during this week sold 14.1% faster than the average week. In 2021 terms, this would translate to selling in just 59 days &ndash; eight days faster than homes listed in other weeks, on average. A downside to waiting? While waiting a few months to list a home may be fine, some potential housing market shifts could lessen homeowners&rsquo; current advantage. Rising mortgage rates, which realtor.com forecasts will reach 3.4% by the end of the year, could dampen buyer demand later in the home-buying season. In addition, improved vaccination rates could also bring more competition if an uptick in homeowners decides that it&rsquo;s now safe to make a move. &ldquo;It&rsquo;s a seller&rsquo;s market right now, but you still need to ensure your home makes a great first impression, especially if you want to get the best price for your place,&rdquo; says Rachel Stults, deputy editor for realtor.com. &ldquo;The key is zeroing in on what buyers want. In the wake of the COVID-19 pandemic, buyers are looking for more space &ndash; or flexible space they can transform into what they need.&rdquo; Original Article: <a href="https://www.floridarealtors.org/news-media/news-articles/2021/04/may-be-best-month-ever-sell-home">FloridaRealtors.org&nbsp;This May Be the Best Month Ever to Sell a Home&nbsp;By Kerry Smith</a> How Long Will the Housing Shortage Last? Years — Here's Why https://www.dwellingwell.com/blog/how-long-will-the-housing-shortage-last-years-heres-why/ Sarasota Real Estate News & Blog urn:uuid:e51ec32b-fab2-668d-7103-bcfdc42ae6b8 Sun, 08 Aug 2021 09:30:45 -0400 Thinking optimistically and knowing a little about US homebuilders and American ingenuity, builders might create an average of 2M homes annually and achieve a supply-demand balance in about 6 years. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/agent-1/Esplanade at Azario/Beacon - Esplande at Azrio.jpg" alt="" width="833" height="451" class="img_box_center" /> Courtesy of <a href="https://www.inman.com/2021/05/12/how-long-will-the-housing-shortage-last-years-heres-why/">Inman News</a>. Written by&nbsp;<a href="https://www.inman.com/author/ben-caballero/">BEN CABALLERO</a> May 12, 2021 Beginning in 1959, the US Census Bureau started to&nbsp;<a href="https://www.census.gov/construction/nrc/historical_data/index.html">record housing starts</a>. During the 48 years between 1959 and 2006, builders completed 52,941,000 homes for an average of 1,102,938 homes per year. For the 14 years between 2007 to 2020, builders started 9,914,600 homes or 708,186 homes per year, which is 394,752 fewer starts per year than the historical average. This annual shortfall totals 5,526,525 homes during those years. In 2020, builders started 990,500 homes, still below the historical average of 1.1 million annual starts. <img src="https://assets.site-static.com/userfiles/3190/image/uploads/agent-1/Inman Housing Starts.jpg" alt="Housing Starts" width="423" height="114" class="img_box_center" /> Homebuyers are now paying the price for the need for homes continued, intensified by a combination of new developments that increased housing demand.&nbsp;Included are the COVID-19 lockdowns that forced many to work, teach and learn remotely, a population that continued to live longer, preventing their homes from being recycled. Millennials began reaching the homebuying age. Institutional investors entered the market in force. Local, state and federal restrictions and mandates increased, and interest rates decreased to record levels bringing in more buyers. The population shift to states like&nbsp;<a href="https://www.bankrate.com/real-estate/states-growing-most-during-pandemic/">Florida, Texas, Arizona</a>&nbsp;and other states added to housing demand. And as if that were not enough, the immigration crisis at our border will further exacerbate our national housing demand. The homebuilding industry was devastated and&nbsp;<a href="https://www.prnewswire.com/news-releases/new-report-construction-industrys-worker-shortage-hurts-housing-affordability-and-supply-301272714.html">still suffers</a>&nbsp;from the disintermediation of labor and manufacturing that&nbsp;<a href="https://www.wsj.com/articles/BL-REB-34267">began in 2006 and continued until 2012</a>. Production then made a weak advance after housing starts dipped as low as 430,600 in 2011. That&rsquo;s a drop of 75 percent or 1,288,200 starts, below the 2005 starts of 1,715,800 homes, according to&nbsp;<a href="https://www.census.gov/construction/nrc/xls/starts_cust.xls">the U.S. Census data</a>.&nbsp; Everyone is asking,&nbsp;&ldquo;Are we in a Bubble?&rdquo;&nbsp;Whatever we call it, the question on everyone&rsquo;s mind is:&nbsp;How long will the shortage last?&nbsp;The table above shows that between 2007 and 2020, America had a shortfall of 5,526,525 housing starts.&nbsp; The question &ldquo;How long will the shortage last?&rdquo;&nbsp;can be answered with&nbsp;simple math. Statistics show we have a 5,526,525 housing starts shortfall. Assuming the historical annual home starts of 1.1 million homes per year as adequate &mdash; and that builders could build 1.5 million homes a year &mdash; the national home inventory would gain 400,000 starts per year to apply to the shortfall.&nbsp; Here is the math: 5,526,525 by 400,000 equals 13.8 years. That&rsquo;s not good news for homebuyers. Thinking optimistically and knowing a little about U.S. homebuilders and American ingenuity, builders might create an average of 2 million homes annually and achieve a supply-demand balance in about six years. What has caused the demand-supply imbalance? Except for the 1973 OPEC Oil Embargo, market downturns since 1959 were caused by changes in federal legislation or policies that affected interest rates or tax policy. Federal action is not driving the market today, but its policies are responsible for damaging builder production. For those who do not know or remember, in the early 2000s, the&nbsp;<a href="https://www.govinfo.gov/content/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf">federal government</a>&nbsp;wanted as many people as possible to own a home. To make that happen, lenders encouraged (if not coerced) to abandon established lending practices, making risky subprime loans. Home loans were originated without regard to credit, employment or down payment. Circumvention of established lending guidelines was facilitated by the unprecedented policies of FHA, FNMA and FMAC that allowed sellers to gift down payments and closing costs to buyers through third parties. These policies allowed unqualified borrowers to buy homes they could not afford and resulted in rampant mortgage fraud. What followed was an avalanche of foreclosures that triggered the severe decline in housing values, causing a 75 percent decline in housing starts &mdash; the longest and most severe decline since 1959 when the U.S. Census Bureau began recording that data.&nbsp; Not only was the housing market damaged, but some may recall the U.S. government insured many of those failed mortgages. Loans were packaged and sold as low-risk investments because FHA, FNMA and FRMC backed them. When the foreclosures made the loans worthless, FHA, FNMA and FRMC had to absorb the losses. The losses were so enormous they put the entire U.S. financial system on the verge of collapse. The solution was simple but expensive &mdash; a governmental bailout rescued the nation from the disaster the government created as it has done several times before. Unfortunately, the U.S. housing supply will remain underserved for several years. However, it could take longer if the government intercedes. Writer&rsquo;s note:&nbsp;Factors not considered include apartment production, changing housing preferences, U.S. immigration policy, interest rate changes, federal tax rates and policy, and population growth. The average starts of 1.1 million from 1959 to 2007 does not account for population growth. Ben Caballero is the president of Texas-based&nbsp;<a href="https://www.homesusa.com/" target="_blank" rel="nofollow noopener">HomesUSA.com</a>&nbsp;and America&rsquo;s No. 1 Realtor for the past five years. What Is a Contract Contingency When Buying a Home? https://www.dwellingwell.com/blog/what-is-a-contract-contingency-when-buying-a-home/ Sarasota Real Estate News & Blog urn:uuid:7e8b47c3-e197-5de4-8ee0-3aca3ab9ac3c Sun, 08 Aug 2021 09:30:44 -0400 <img src="https://assets.site-static.com/userfiles/3190/image/uploads/shared/contract contingencies.png" alt="" width="350" height="350" class="img_box_right" />A contingent offer means that an offer on a&nbsp;property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. These criteria, or contingencies, are clauses in a sales contract that typically fall under three major categories: appraisal, home inspection, and&nbsp;mortgage approval. Such contingencies are mainly put in place so that buyers can back out of a real estate sale if something goes wrong, usually without losing their&nbsp;earnest money deposit. A seller might entertain other offers after a refusal, but won&rsquo;t deal with another buyer until the contingent offer is settled in one way or another. Home inspection contingency A home inspection contingency could well be the most important one for home buyers. This contingency gives buyers the right to have property professionally inspected after putting down earnest money. And finalizing the real estate transaction usually hinges on this contingency. If something is wrong, a&nbsp;home inspection contingency allows the buyer to request&nbsp;repairs or renegotiate the purchase price and/or request a credit at closing&mdash;or back out of the sale all together. It&rsquo;s rarely advisable to waive an inspection contingency, and&nbsp;home buyers should generally consider this a must-have clause in a sales contract. If something is wrong with the current home on the real estate market, you'll want to know about it and a good inspection will find it.&nbsp;Once you know the problems, you can talk with the sellers about what they need to fix before you buy the home. Appraisal contingency With this real estate contingency, a third party hired by the mortgage lender evaluates the fair-market value of the current home for sale. In the event that the appraised value proves to be less than the sale price, the appraisal contingency lets you back out of the deal. In hot markets, eager buyers might feel pressured to waive a contingency, but they could end up paying more. However, the lender will only put up a certain amount of money for the appraised cost&mdash;which may not be the asking price&mdash;and the buyer will have to cover the rest. For example, let&rsquo;s say you have a fixed-rate loan that covers 90% and you need to put 10% down for a home selling for $500,000. If the property is appraised at $475,000, the lender is only going to cover 90 percent of that appraised value, or $427,500. In this case, instead of a $50,000 down payment, you would be expected to put down $72,500 to cover the difference. Waiving this contingency in the purchase contract can be a gamble. Mortgage contingency You don&rsquo;t want to sign a property sale without having the money to back it up. A mortgage contingency is a contingency that protects the buyer and seller from getting into a real estate sale without a proper loan. Under this contingency, the buyer has a specified period of time to obtain a loan that will cover the mortgage after the offer is accepted. If the buyer can&rsquo;t get a lender to commit to a loan, the buyer has the right to walk away from the sale with the down payment. To expedite the process, try get pre-approved rather than just per-qualified. If you&rsquo;re pre-approved, you won&rsquo;t be wasting the seller&rsquo;s time or yours during the loan-hunting period, which could be drawn out for many different reasons.. Like an appraisal contingency, eager buyers and sellers in hot real estate markets might want to waive this contingency for the current home for sale, especially if cash is on the table. But waiving this contingency means that if your mortgage lender delays or denies your loan after a seller accepts your offer, you can lose the deposit during escrow, so it&rsquo;s a risky venture. Original Article by:&nbsp;&nbsp;By&nbsp;Angela Colley -&nbsp;<a href="https://www.realtor.com/advice/buy/what-is-a-contingent-offer/">What Is a Contingent Offer? What It Means When Buying a Home</a>