Sarasota Real Estate News

Over the past 12 months in Sarasota, Florida home prices are up 6%; the total number of homes sold/pending is up 11% and our inventory of Active listings has decreased by 7%.

This is contrary to what you are hearing in the media that existing home sales are down.  According to the National Association of Realtors, closings may have been delayed in November as the industry adjusts to the new "Know Before you Owe" rules imposed on lenders, so they will likely close in December.  

Here's what's happening in Sarasota, Florida home sales:  The market was strong during the summer, but our best month in 2015 was April, and that's no surprise as our seasonal residents decide they do not want to rent the next time they spend their winters in Sarasota.  

Thinking about selling your home?  If you do not have granite counter tops and stainless appliances, that's a good place to start because that's the first thing Buyers look for.  If you really want to sell quickly, you can modernize your kitchen by opening up walls.  Will you recover all of the money you spent on renovations?  No, but it will definitely help sell it and you will recover some of the costs.  As a minimum, service your AC, put old pictures, Grandma's knick-knacks and afghans in storage, and repaint.  Don't think that Buyers will want to choose their own colors--just trust me on this--they want something that looks modern and ready to move in.   Stains on the carpet?  Maybe it's time to think about putting in hardwoods.  These are the things that sell homes and I know the professionals in Sarasota who can make that happen for you.

It's also good to hire your own home inspector and take care of the repairs yourself, so there are no surprises for your Buyers.  This year, I had Buyers cancel a few contracts after they received the inspection report!   To facilitate smooth contract negotiations, I also recommend that you get your property appraised.  I will reimburse you the cost of your home inspection and appraisal at closing if I list your property, so please keep that in mind.  

Do you need to sell your home in another area before you buy a home in Sarasota?  I'm connected with the best realtors throughout the country, so let me recommend an experienced professional with the right credentials who will do a good job for you.

I'm here to help, whether you are a Buyer or Seller.  Best wishes to you and your family for a healthy, happy and prosperous New Year!

Linda Holley, Realtor, GRI, 941-914-4914