January 23rd, 2026 12:17 PM by Linda Holley
Insurance carriers are readjusting pricing, so there are more options for homeowners and lower premiums. Home replacement costs are up, so if the structure is damaged, the insurance company does not use the market price to calculate claim payouts. The home is rebuilt to the same condition in the policy before the damage. Companies use "replacement cost estimate." If one remodeled their kitchen, they must have informed their insurance company of the updates to be adequately compensated for future claims. Major property changes go unreported so homeowners should have that conversation with their insurance agent. Insurance carriers also need to know if it is a primary or seasonal-use home.
During a remodel, homeowners should get a builders risk policy because the homeowners policy does not cover.
Mortgage rates are now 6-1/4% and low 5's if buyer is willing to pay a point. If rates drop, can refinance for just $700. When the "feds" meet again, not sure what Chairman Powell will say. Is he concerned about inflation?
Sarasota real estate market statistics for December 2025: For single family homes, sales are up 34% since October and the median price stayed the same.
Sarasota Condos: It's a buyer's market, and the prices fell 11% since October although sales are up.
Siesta Key single family home median sales prices declined, and prices continue to drop for condominiums. There are over 12 months of inventory, which means that if nothing else comes on the market, it will take 12 months to sell Siesta Key condos on the market today. So it's definitely time to buy.
Our William Raveis affiliates for title, insurance, and mortgage are the best and buyers will get a $500 gift after closing for using our awesome partners.
Linda Holley, Realtor, GRI, SRES, CIPS, William Raveis Real Estate, Sarasota and Siesta Key
941-914-4914
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