Today there were 344 price decreases posted in our MLS system (see chart below). Sellers who list their homes with unrealistic expectations are missing out on buyer's agents who watch for new listings that are priced right. They may not waste their time showing an overpriced property and then spend days haggling with the sellers to bring the price down.
Some agents are also reluctant to show a property that's been on the market for months. In our minds, we think that something may be wrong. Perhaps the property has issues or wasn't ready to put on the market.
I recently showed a property that is SERIOUSLY priced above comparable properties. A new listing agent (obviously) made the mistake of pricing a large model in a community by price/sq ft of a smaller unit in that subdivision. Can't do it. Every floor plan is different and to use the old cliche, "can't compare apples to oranges." The price has already been reduced and needs to come down another $100K.
And then there are the sellers who are offering the buyer's agent 2% commission. We are taught in "Real Estate 101" that there is no standard commission and there's not. We don't fix prices, everything's negotiable. Some brokerages charge 5% commission to list the property, others charge 6-8%. Some agents can set their own commission. My company allows me to do that. The companies that charge 6% and boutique brokerages that charge 7% or more - give 3%, 4%, or 5% commission to the buyer's agent. We like that a lot and we'll definitely try to get that home sold for you.
Realtors work hard. We make the job look easy but it's not. This business is costly in terms of our real estate brokerage fees, MLS and Board fees, marketing, gas, clothing, leasing our luxury cars, resoling our shoes, and teeth whitening products. But we see a Seller offering a bonus or commission of 3-5% for the buyer's agent, we're all over it trying to get it under contract.
So, sellers who are overpricing your homes...perhaps these tips may help you sell your home quickly.
Call Linda Holley, GRI, SRES, 941-914-4914, Fine Properties, for your real estate needs in Sarasota and Manatee Counties.
Linda Holley's Blog July 30 - TIME MAGAZINE has named Sarasota and The Bay in their recent publication, "World's 100 Greatest Places 2021."
THE BAY PROJECT: Construction begins next month on the first phase of Sarasota's The Bay project. A total of 53 acres on a mile of shore land will feature many amenities for residents and visitors to Sarasota. A portion of the Mangrove Walkway has already opened with a new pedestrian and bicycle path, benches, and landscaping. $10 million is in the bank and $24 million has been raised for this $200 million project. (map below)
SARASOTA REAL ESTATE: There are currently 71 condominiums in downtown Sarasota on the market, 97 are under contract, and 506 sold from February to July 2021. Price points: $180,000 to $9.7 million.
Your experienced Sarasota real estate expert is Linda Holley, Realtor, GRI, SRES, HomeSmart - Real Estate Made Easy - phone 941-914-4914
For more information about Sarasota real estate, click this link: See Linda's Website
Hello, and thank you for reading my blog.
Today, I'll share new policy guidance for Florida real estate sales, but first...please stay safe and well, and for those who have lost loved ones from COVID-19, my deepest and most sincere condolences. For our medical professionals, law enforcement, and first responders in harm's way, please know how much you are appreciated by everyone.
We are still listing and selling homes throughout Florida with new business practices. Florida's governor ordered that real estate is an essential service. For those who must sell, buy, and show properties, the below information may have answers to your questions.
If you would like to know more about real estate in Sarasota, Nokomis, or Venice, Florida, please call Linda Holley. 941-914-4914.
Alternative Virtual Business Practices During the Covid-19 Pandemic
Sellers with Active listings must make the property available to show--but they may opt out of in-person showings and offer virtual showings instead.
Exclusive Live Video Showings — Agents can facilitate a private, live video tour. Video calling platforms can be used for private conversations that are not open to the public like a live stream open house would be.
Live video conferencing gives potential buyers the opportunity to ask the agent questions in real time and ask to see specific features of the property live.
Unbranded Pre-Recorded Walk-throughs/Virtual Tours —As in the past, sellers can offer virtual tours instead of in-person showings. Links to unbranded virtual tours may now be advertised in the listing.
The new acknowledgement form for showing properties is summarized below:
Corona Virus In-Person Access Acknowledgment
Signed by Seller and Buyer
Seller acknowledges that agent may bring potential buyers to their property.
Potential buyer has asked to personally see the property.
With in-person showings, there are unavoidable risks associated with the COVID-19 virus and contact with or near other people or things.
Potential buyer will use their best effort to minimize the health risk to themselves and others, including the seller.
Potential buyer and seller agree:
Linda Holley, Realtor, GRI, PalmerHouse Properties, Nokomis, Florida 941-914-4914
Good afternoon and thanks for reading my blog. Today I'll talk about what people are buying in Sarasota and also share my homemade chicken soup recipe.
Our market is HOT! There are 1,220 homes under contract (pending) in Sarasota, Florida, up from 1,172 two weeks ago. 700 are single family homes, and 520 are condos, townhomes, and villas. NOW is the time to list your home and NOW is the time to buy if you are getting a mortgage.
Zip Code 34232, central Sarasota. Pending sales are primarily single family homes. Averages: size, 1,600 sq ft, year built: 1982, and list price $268k. There are 15 condos pending, including my 2BR 2BA listing at 2568 Clubhouse Cir, #102 (photos below), listed for $146K. It was under contract in just 6 days and we had multiple offers. Both offers that came in were excellent, but the Seller chose the cash offer. To see the video of this home, go to my home page: LindaHrealtor.com and enter this MLS number in the Home Search field: A4460926 .
The Seller wanted to "test the market," so we listed it $10k above the comps because it's ground floor and had updated flooring, kitchen, baths, and the lanai was enclosed. The Buyers live up north and won't be back for several months, so the closing date was set two months ahead to allow the Sellers time to find their new home. It is being sold "As-Is," with 10-day inspection period and right to cancel. The Buyers and their agent have been marvelous to work with.
Zip Code 34232 is one of the best kept secrets in Sarasota real estate and so is Forest Lakes Village. This is an "Over-55" condo community with a newer clubhouse, heated pool, newer roofs, and the private road was re-paved last year. The monthly dues are $340, which covers water, cable, trash, grounds maintenance, clubhouse, heated pool, exercise room, saunas, and a maintenance superintendent who works full-time Monday-Friday. Forest Lakes Village is near two golf courses, shops, great restaurants, Walgreens, Wal-Mart, Starbucks, and 15 minutes from Siesta Key and downtown. I'll be listing a second-floor unit in Forest Lakes Village next month for around $135k, and I also sold two others in here recently.
Play ball! Last week, I attended several spring training baseball games up and down the west coast of Florida. We had great seats and although I did not catch any foul balls, I did come home with bronchitis. I hold handrails when I go up and down stairs and did not think to bring my hand sanitizer.
I went to the doctor last Saturday and was put in an antibiotic. Doc said stay 6' away from people, wear a mask if I needed to be near anyone, rest, fluids, and chicken soup….here's my recipe:
Chicken Soup:
Wash whole chicken, put in large pot and cover with water. Bring to boil then turn heat down to medium. Continue to skim off the brownish foam that rises to the top for about 10 min. Add fennel, leaks, carrots, celery, and onion, and simmer for 2-3 hours. Strain the soup and enjoy for several days. I added a large can of veggies yesterday, so I'll be able to enjoy it another couple of days. Burt Reynolds (my cocker spaniel) loves the carrots and chicken that I refrigerated for him.
My doctor was not concerned about the coronavirus because my fever was only 99.5 at the highest. I was told not to come to his office or go to the ER unless my fever was 102-103+ or if I could not breathe. Health Dept. said the same thing. Great. How do you get to the ER if you already stopped breathing? Good luck with that... I took Mucinex DM for the cough, Zyrtec for congestion, and Cepacol sore throat lozenges. To sooth my throat and my spirits, I ate a giant box of Wal-Mart ice cream bars in just three days. Jack Daniels may have been a better option because I did NOT feel better until I got serious about nutrition. I needed to jump-start my immune system that had bottomed out. Put my mask on and went to the grocery store early Wednesday morning and stocked up on fresh fruits and veggies, plain Greek yogurt, and pro/prebiotic Smarty Pants Complete. That's what worked for me and I'm 90 percent better today. Burt and I are sick of daytime television, and I’m happy to say I feel great again.
Below are my pics for my latest Forest Lakes Village condo listing that is pending--and do let me know if you are interested in buying or selling your Sarasota home. Remember, I'll be listing another condo in this community for around $135k, very clean, on the second floor.
Be safe, eat healthy, and call me if you would like to talk about Sarasota real estate. Since the world is out of hand sanitizers, I carry a baggie filled with antibacterial wipes to keep my hands clean if I have to get out.
Most sincerely yours,
Linda Holley, Realtor, GRI, 941-914-4914
2568 Clubhouse Cir #102
This week there are 1,040 pending sales in Sarasota, Florida, up from 931 last week. There are 32 homes under contract at Mark Sarasota, the new condominium development one block south of Main Street. Mark Sarasota is marketed and sold by Michael Saunders and Company. Floor plans are sleek and modern. The all-embracing terraces are perfect for entertaining and relishing in the excitement of all that downtown Sarasota has to offer. Perhaps you would enjoy an elevated resort-style lap pool with your own private cabana and fire pit lounge? Get ready to host your own private party in The Club Room!
Mark Sarasota also has an internet café, secured parking, 24-hour Concierge, and a lobby that is access-controlled. Downtown Sarasota amenities WITHIN WALKING DISTANCE are the bayfront marina, John Ringling Bridge, Marina Jack’s restaurant, Bayfront Park, the outdoor waterfront Oleary’s Tiki Bar and Grill (dog-friendly), Freedom Boat Club, Pineapple Yoga and Cycle Studio, Caragiulo’s Italian restaurant, First Watch restaurant, Sarasota Opera House, Burns Court, Owens Fish Camp, art galleries galore, post office, Smokin’ Joe’s Pub, Mattison’s City Grill, Presbyterian, Methodist, Baptist, Episcopal, and Catholic churches, Florida Studio Theatre, and Marie Selby Botanical Gardens. Just to name a few conveniences!
The one-bedroom condominium under contract is listed for $649k, and the three-bedroom, 3-bath under contract is listed at $2,499k. Go to LindaHrealtor.com and enter this MLS number in the home search field A4459050.
Interested? I’ll take you there! Call Linda Holley, Realtor, Michael Saunders & Co., 941-914-4914. See LindaHrealtor.com for more information about me, home search, blogs, my testimonials, mortgage calculator, and more.
With gratitude,
Linda Holley
Hello and thank you for reading my blog. This week I have seen three great Michael Saunders & Company listings (with photos below). I also have some very helpful tips for buyers and sellers , roof and window replacements, and upcoming events.
Go to my homepage LindaHrealtor.com and enter the MLS number that begins with an “A” in the home search box for more info and call me if you would like to see!
Open House Sunday 1-4 p.m. A4444643 1811 Southpointe Dr., Sarasota, FL 34231, 4 bedrooms, 2-1/2 baths; mainland boating water; elevator; updated beautifully; near Intracoastal Waterway. $1,285,000. I LOVE this neighborhood and once lived there!
A4447415 4616 Deer Trail Blvd, Villas at Deer Creek, 1,753 sq ft, 2 bedrooms 2-1/2 baths; community pool, ground floor; tastefully updated; gated community in Palmer Ranch; grounds maintenance included in fees. $345,000.
A4439939 4476 Streamside Ct (Arielle on Palmer Ranch); ground floor condo, spacious 1,636 sq ft, new appliances and master bedroom carpet; grounds maintenance included in fees; $243,500. Best deal in this gated community in Palmer Ranch.
About our Company “What makes a difference is that we make a difference.”
Michael Saunders & Company is one of the most well-respected real estate brokerages in the industry. Being part of the Leading Real Estate Companies of the World, our affiliates include Washington Fine Properties, representing the top-of-the-line properties in our nation’s capital region. “Creme de la crème” clientele.
One-Stop Shopping. 95 percent of buyers want one place to get real estate services, mortgage, insurance, and title.
Surveillance Equipment. Beware sellers and buyers! Owners may be able to hear and see everything that goes on when their home is being shown. “Alexa” picks up conversations, and people are unknowingly being recorded. If you have surveillance equipment, disclose it!
Energy-efficient Improvements - roofs and windows. The Pace Program offers 100% no-money down financing for these items. Older roofs and windows will not help you sell your home. You will likely reduce the price so the new homeowner can do this. Buyers can’t get insurance on the home if the roof is too old. How old is too old? Depends on the type roof.
…Just Saying…
Every now and then I hear a buyer say that he/she does not need their personal Realtor when buying a home. They believe that they can negotiate a better deal by working directly with the Seller’s agent. “That’s like getting the fox to guard the hen house.”
Most of the deals I have put together the past ten years required renegotiations with the seller, phone calls to the seller’s agent, re-inspections, and sometimes an exit strategy to withdraw the offer and return of buyer’s deposit. Sometimes the seller makes it difficult to access the property for inspections and re-inspections. Frequently there are issues with the HVAC, mold, and roof.
There are many forms required in a real estate contract that Realtors are accustomed to seeing. For example, I have seen Sellers Disclosures where some questions were not answered. As a Selling Agent, I get those answers for the buyer.
Pulling permits from the county to verify that work was done properly is another service that a listing agent usually won’t do for the buyer. Open permits can hold up closing for two months. Sometimes a seller will do his own work and bypass the county permitting and inspection process. This will hold up closing, and the seller will pay a fine. A smart buyers’ agent knows that this is a reason to terminate the contract. If the seller does that, what else is he or she trying to pull?
When I purchased my own condo last year, I had serious issues with the seller and his agent all the way to the closing table. They tried everything--and I’m a Realtor.
There have been times that I have launched out on my own, thinking that I did not need a licensed professional, which cost me much time and money; example, thinking that I did not need a licensed plumber, I could handle my own toilet repairs with the help of Home Depot and You Tube. Not smart –same concept.
Buyers—it costs you no more to have your own real estate agent – whether it’s new construction or resale! Always remember, the seller pays the commission for BOTH agents.
Ready, Set, Sell your Home. I help Sellers downsize, organize, and stage.
Out and About - Having Fun!
The band, “Chicago” will be in Clearwater, Florida, Saturday Oct 19, Coachman Park at the annual Jazz Holiday event. This is beautiful waterfront park is in downtown Clearwater, Florida.
Players Centre for Performing Arts: “The Underpants,” written by comic Steve Martin. 838 N. Tamiami Trail, Sarasota, FL 34236
Have an awesome weekend and please call me at 941-914-4914 if I can answer any real estate questions for you in Sarasota, Nokomis, or Venice, Florida.
LindaHrealtor.com has helpful information on buying, selling, home search, and mortgage calculator.
Linda Holley, Realtor, GRI, Michael Saunders & Co., Siesta Key, Florida
1811 Southpointe Dr - Open House Oct 13th, single family, $1,285,000.
4476 Streamside Court - Arielle on Palmer Ranch, condo $243,500.
4616 Deer Trail Blvd (Villas at Deer Creek) $345,000
Thoughts and prayers to the Bahamians, and others on the US east coast affected by Hurricane Dorian. Close to 2,000 people read my blog last week, so I'm pleased that the hurricane preparedness information provided by our affiliate, BK Insurance, was helpful. Next weekend I'm traveling to Nova Scotia, Canada, where Dorian is headed today.
Real Estate Trivia:
According to TrendGraphix, here's the real estate statistics for the last 12 months - August 2018-2019 - all types of homes:
Sarasota County - Average Price of Homes Sold: Aug 2018: $358K, Jan 2019: $386k; Aug 2019: $354k. Months of Inventory: 4, 8, 3 (same period). Note! winter-time increases in prices and inventory.
Siesta Key - Average Price of Homes Sold: $896k; $804k; $858k. Months of Inventory: 10, 18, 7 (same period).
Venice/South Venice: Prices: $302k, $316k, $296k; Months of Inventory: 4, 7, 3 (same period).
Palmer Ranch (zip code 34238): Prices: $369k, $332k, $389k; Months of Inventory: 4, 10, 4. (same period).
City of Sarasota (zip code 34236): Prices $652k, $1 Million; $762k; Months of Inventory: 9, 17, 8 (same period).
When someone asks, "How's the real estate market in the Sarasota area?" Your answer is: "It depends on the area and time of the year." You may explain that generally, things are about the same in Sarasota County as far as prices and inventory over the past 12 months.
Take the discussion to the City of Sarasota and how our downtown area is booming. And on Siesta Key, there are many luxury homes on the water that take longer to sell, which really skews the data. In Sarasota County, the 2019 inventory and prices peak during the winter months and come back down in the summer and fall.
You can also say that NOW is the time to buy because prices are at a low point, but will go back up during the season - and Sellers will likely get close to their asking price. What is perplexing to me is that the basic economics theory of supply/demand does not apply here in Sarasota during the winter months. Inventory goes up, as well as the prices.
Additionally, during the summer and fall, many builders reduce their prices of their spec homes, so now is definitely time to shop around for a new home. By the way, I'll need to go with Buyers before they connect with a new community, otherwise, I can't help them through the buying process. That may not seem important because those new home real estate agents are so nice and excellent sales people. There is much they don't say - like what were the last sales in that development? Have they had recent price increases or decreases? When will the county come by to inspect framing? (New home buyers need their own independent inspector of the framing AND punch list items before the builder and county do their own. I reimburse Buyers for those independent inspections that are so necessary...)
NOW is the time to find a professional, experienced Realtor if you plan to make a house-hunting trip to Sarasota this fall and avoid paying $20k or more in rent. Think about this: If you are planning to buy after you get here, you have thrown away your rent money, plus the prices could increase as much as $30k.
Call Linda Holley, Realtor, GRI, at 941-914-4914 for more information about Sarasota real estate and visit my home page at www.LindaHrealtor.com. I have a mortgage calculator and also home search feature on my home page for you to start looking around.
Selling your home? I would love to send you information about staging your home to sell. Photography is everything: Examples of great staging and photography: 1078 Eisenhower Drive, Nokomis and 5439 Azure Way, Siesta Key; Homes that are priced right sell quickly. Both of these properties were impeccably maintained, beautifully decorated, and the Sellers priced their homes to sell. I have also reimbursed Sellers for roof inspections and appraisals, which helps during contract negotiations when "lowball" offers come in. Thinking of updating your kitchen? A good rule of thumb as far as pricing is $35k. See beautiful kitchens below.
Have an awesome week and please pray for those affected by Hurricane Dorian. And Hurricane Charlie hit the east coast of Florida, came across to the west coast at Port Charlotte, and hit the Gulf of Mexico picking up steam, before slamming into Florida and Alabama, where my mother lived at the time.
941-914-4914
1078 Eisenhower Drive, Nokomis, FL 34275
5439 Azure Way, Siesta Key, FL 34232
Open House Sunday Aug 18, 2019, 1-4 p.m., 5212 Parisienne Place, Botanica, Palmer Ranch, Sarasota, FL 34238 (photos below).
15 minutes from downtown Sarasota, Siesta Key Beach, Nokomis Beach.
Appropriately named Botanica, homes are surrounded by ponds and a natural preserve area. Catch a glimpse of snowy egrets, osprey, herons, turtles, ducks, hawks, bobcats, and alligators from the lanai. Various species of North American birds, spending their winters by the shore, are known to visit Botanica. Spiritual and earthy, this quiet and exclusive community features just 168 carriage homes that were built in the early 2000’s.
5212 Parisienne Place, listed by Michael Saunders & Company, is a 1798 square foot coveted Jasmine model with three bedrooms and a two-car garage. Listed at $359,900, the price has been reduced to sell. The gated, maintenance-free community is impeccably maintained year-round with seasonal flowers, much like a botanical garden. With two pools, resort-style clubhouse, and very financially healthy homeowners association—this is a community residents proudly call home. Everyone loves Botanica, to include two very happy Buyers of mine who are homeowners today.
Call me if you would like more information about this property or real estate in Sarasota, Siesta Key, or Venice, Florida. If you are in the area, come to my open house Sunday 1-4.
Linda Holley, Realtor, GRI, 941-914-4914.
Check out my home page www.LindaHrealtor.com
Blog: www.LindaHrealtor.com/blog
5212 Parisienne Place, Botanica in Palmer Ranch, Sarasota, FL 34238
8,318 people read my blog last month. If you would like me to add you to my weekly blog, just email me at LindaHolley@MichaelSaunders.com. I promise not to abuse, forward, or sell your email address; just want to keep you informed about real estate happenings.
Would you like me to watch for a certain type property you are interested in? Just let me know and I'll keep you informed.
Thanks,
Linda Holley, Realtor, GRI, Sarasota, FL, 941-914-4914
www.LindaHrealtor.com
www.LindaHrealtor.com/blog
Today was our 2019 Annual Meeting. Michael Saunders' comments:
We are the real estate market leaders in Sarasota, Manatee, and Charlotte counties. For luxury homes, our sales are "off the charts." We have had the highest home sales in Harbor Acres in Sarasota, Lakewood Ranch, Longboat Key, Boca Grande, Manasota, Anna Maria Island.
Real Trends ranks 500 of the largest real estate companies in the US. Michael Saunders & Company is in the top 15 percent for all companies, and in the top 8 percent for independent real estate brokerages.
43 years ago, Michael (it's a girl!) started her own real estate brokerage--a values-based company specializing in waterfront properties. Today, we have the finest reputation in the area, which is something one can't buy or create over night.
Today's market is challenging, especially with media headlines. Marci Rossell, Chief Economist of Leading Real Estate Companies of the World, was a guest speaker. She recommends that Realtors educate our customers since there is a current concern about market slowdowns and another recession. She does not believe we are headed towards a recession. We are in the middle of an economic expansion, and they do not die with old age. Australia has had a 30-year expansion.
This is an excellent time to purchase real estate because of low interest rates and low inflation. This won't last! Last year, interest rates started to rise, which did not affect our local market, but it was a different story in The Hamptons, other parts of the country and the international market. Many countries are sensitive to the US dollar, and here how international currency dropped:
Brazil -16%; South Africa -21%; Turkey -42%; Argentina -51%.
Brexit: We are past the March 31 deadline for Great Britain to leave the European Union (EU). They voted to do this three years ago, but they have not yet come up with a plan. Great Britain believed they could have the benefits of staying in the EU without the costs. Imagine a husband saying he wanted to stay in his marriage with the benefits at no cost! Life does not work that way and neither does the economy. If there is not a deal by October 31, they will be out of the EU. Mrs. Rossell believes the effect may be short-term, not long-term - similar to Y2K. IF PEOPLE PLAN, THAT MINIMIZES THE IMPACT. No doubt, Great Britain is planning for this.
How are consumers doing saving money? Since 1959, average savings rate has been 8.6%. In 2006, it was 0%, but this year, it is 7%. Saving has picked up because people are worried...they are being more careful and they need to be.
Trade War with China. This information is based on economic factors and not political. China requires technology transfer to do business in China, which is in clear violation of the world trade rules. If we close the trade deficit with China by 1/2, does that mean we will buy less? No. Will we buy in America? No. With the current unemployment rate at just above 3% in the US, we don't have the workforce to manufacture our own goods, so we will buy from other countries. And...who will own those industries in other countries? China. When China earns US dollars, they buy US stocks, bonds, and real estate.
More important than imports and tariffs is US debt. Is this enough to cause a recession? It did not a year ago, but we should plan for this.
US monetary policy: During 2008-09 meltdown, the interest rates were down to zero but lowering the rates was not enough to create purchasing power that continued to contract. The Federal Reserve stimulates economic purchasing power in various ways. During the meltdown, they could have forgiven student loans to get money back into the economy. However, they engaged in bond-buying to stimulate the economy. The federal deficit grew from $800 billion to $4.5 trillion. The feds said they would eventually "unwind their holdings," so last year, they started unwinding to the tune of $50 billion each month, and they knew this was uncharted territory. Real estate is feeling it the strongest; so now the feds are saying that their monetary policy will be managed appropriately. What does that mean? Maybe interest rates will stay current and they will stop "unwinding holdings"?
Realtors have the responsibility to educate our consumers and get them away from depending on the media for this information. People don't need an economic update daily or weekly, once a month is fine. For personal finances, an annual checkup is the answer.
So for me, I'm trading my CNN time for an exercise class at the YMCA.
I'm here to help you with your real estate needs in Sarasota, Venice, and Siesta Key.
LInda Holley, Realtor, GRI, 941-914-4914
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