Team Dunn is very busy on Siesta Key in Sarasota, Florida! We are closing on our single-family home at 5302 Cape Leyte in Siesta Isles on Thursday, and this transaction has been literally seamless with a cash Buyer. Both parties were wonderful to work with, and I met the Buyers at one of my Open Houses at the property! The Sellers are Canadians, so IRS requires a 15% withhold of potential income tax from their proceeds under the FIRPTA laws. The Buyers are also Canadians and this is their second investment property on Siesta Key.
Our beachfront listing in Excelsior Bay, (6266 Midnight Pass Road, Unit 404) will have new carpet, new furniture and new pics next week of the updates; see below for the photo of the magnificent gulf view from the lanai. This is the perfect place to watch our fabulous gulf sunsets either from the beach--which is only a few steps away--or from your own private lanai! 2BR 2BA 1,263 sq ft, split bedroom plan, washer/dryer, garage with extra storage, listed for $749,000. Excelsior Bay is a “gulf-to-bay,” community boasting of two heated pools with sundecks, fishing pier on the bay, clubhouse, fitness center, on-site rental office, and tennis courts. It’s also pet-friendly for small pets. Two-week minimum rentals and the weekly rental rates are: Low season: $1,090, Mid-Season: $1,450, High Season: $1,990 which means that during Jan-Mar alone, it has the potential of bringing in $24,000. To see the “before” pictures, go to my website, LindaHrealtor.com and enter this MLS number in the Home Search bar: A4189950
Perhaps you prefer the north end of Siesta Key and walking to the Village shops and boutique restaurants? Coming soon in Siesta Towers, 4822 Ocean Blvd, 2BR 2BA, 1440 sq ft, eleventh floor, price to be determined. Gulf and Big Pass view of Sarasota Bay, extensive remodel equivalent to new construction. 24-hour exercise room, two heated pools, two new fishing piers, bicycle storage room. Rental policy: 3-month minimum, two times a year.
MSC Mortgage now has jumbo loans competitively priced at 30-Year Fixed or 7/1 Jumbo ARM; they also have in-house condo approval. A jumbo loan is above the Fannie Mae, Freddie Mac limits of $625,500, and MSC Mortgage can lend up to $3 million with this program. Two weeks ago, my blog was about the Zillow’s “Zestimate” which is an online estimate of a home’s market value. It’s important to understand that the most accurate methods to determine home values are a Realtor’s Comparative Market Analysis (CMA) and an appraisal. Well, now there’s something new in the home valuation business. This month, a national lender is offering a home valuation tool to calculate the equity in homes and suggest when and how the homeowners can tap into it. They compare their home value estimate, from public records, to the amount of equity and they let Sellers know when it’s a good time to use their Home Lines of Equity (HELOC). This company advertises that they are the nation’s leading online loan marketplace connecting consumers with multiple lenders who compete for their business.
I also refer my customers to mortgage professionals—but only those who have a proven track record of delivering results to my customers—professionals I know from my past real estate Transactions. Not all lenders bring us the money at closing in a timely manner, so please remember that, and call me or your Realtor for a referral to a mortgage professional they know and have worked with previously.
Thanks for reading my blog, please don’t text and drive, and call me at 941-914-4914 if I can assist you with your Sarasota, Siesta Key, and Venice real estate needs.
Most sincerely yours,
Linda Holley. Realtor, GRI, Michael Saunders & CompanyExcelsior Bay, 6266 Midnight Pass Road, Unit 404, on Siesta Key
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