Sarasota Real Estate News

UK Buyers:  Florida salutes our buyers from the United Kingdom!   Our state is a major destination for 39% of the UK buyers, followed by California at 15%.  It's about location...Florida happens to be closer and less expensive to travel here from the UK!  

Housing Forecast:  Approximately 40,000 new homes were built across the country this year, and an additional 60,000 are expected to be built in 2017. You do need your own personal realtor with you when you buy a new home, and if you are my customer and buy a new home without me, I can't help you, you are at the mercy of the developer and builder.  I know the individual communities from Bradenton to Venice, and can help you select the area based on your wants, needs, and preferred lifestyle.  You can spend two weeks driving around with your GPS finding the new home communities, or we can see them all in a day.  I'll be sure to let you know which builders are famous for tacking on additional costs for things that some builders consider standard, such as granite and wood cabinets, and what is included in your maintenance fees.  Plus I know where the best schools are!

My nightmare - In 2004, before I was a realtor, I bought two investment properties in Taos Ski Valley, New Mexico, that were under construction - just three hours north of my home in Albuquerque.  This was before I became a realtor, and simply did not know what I did not know.  These properties were over a year late being finished, and right off the bat, I lost money in a failed 1031 exchange, plus the properties were filled with defects and code violations.  Had I known what I was doing, I would have gone to visit the site with a real estate agent from a different brokerage in Taos, such as Prudential or Century 21, and either of these brokers would have helped me terminate my contract and get my deposit back; sadly, everyone but the out-of-state Buyers knew that there was trouble ahead.  This project was a joke around town during construction!!  The developer ran out of money, the contractors and his subcontractors funded the project, the project manager was fired (which was the right thing to do), and we the owners acquired mechanics liens about a month after we closed!   After closing and a few months later...In the middle of the winter, and ski season...our water pipes were known to freeze and break, totally ruining the contents of our new ski condos.  I was asleep one night, and the building caught on fire because ice and snow from an adjacent building roof fell on our unprotected gas meter and ignited.  I'm lucky to be alive today to talk about this.  

The project, Wheeler Peak Condominiums, was a joke, but no one, especially the realtors who helped us sign our contracts, would tell the 24 Buyers.  After several law suits, the homeowners association was awarded over half a million dollars for the repairs (just three years after construction), but it was not enough.   If you are an investor, try to sell your property that has been seriously stigmatized around town.  

As I contacted the local real estate and construction professionals in Taos to get ready for my own law suit, which was against the contractors AND the realtors, I quickly learned that our realtor worked for the Seller and not us, although by their actions they led us to believe we were fully represented and that they "had our backs."    So call me (941-914-4914) if you want someone to look out for your best interests in Sarasota new homes.  That is New Mexico 10 years ago...onward to Florida!

Your 2016 property values are posted online at the Sarasota County Property Appraiser's website.  http://www.sc-pa.com/   On August 22, 2016, TRIM notices (taxable value)  will be mailed.  You have 25 days after August 22 to file an appeal.  Please look over your TRIM notice and if you feel that the value is too high, go ahead and file your appeal.  If your home has been on the market and has not sold, you have a good argument, and Bill Furst, the Sarasota Property Appraiser, (whose first career was in real estate), will determine if your Fair Market Value needs to be reduced.  

Wow! If things are not confusing enough with technology, the Florida real estate contracts are vague in the financing clauses.  Always use the Appraisal Addendum if you are planning to financing your home, because the language in the addendum can protect you run into problems with the appraised value of the home you are buying.

That's all for today!  Have an awesome weekend and let me hear from you if I can assist you in your Sarasota real estate needs.

Most sincerely yours,

Linda