Today in Sarasota, Florida, there are 1,172 homes under contract (pending) up from 1,123 last week. In the past seven days, 478 homes pending were sold. A total of 1,034 have sold since January 1, 2020. It's a HOT market here today.
Inventory is very low, so if you are thinking of listing your home, now is the time.
One fast-selling community is Sara Sands on Siesta Key with single family homes built on deep water canals. Boaters have easy access to Roberts Bay, the Gulf, and Intracoastal Waterway. Homes have 100' to 250' of waterfront with private pools overlooking the water. Siesta Key village and the beach are just a five-minute bike ride away.
Those under contract today in Sara Sands are listed from $1.2 to $1,3 million, all remodeled, and most were under contract in ten days or less. See photos below.
Your seasoned Sarasota, Florida. real estate expert is Linda Holley, Realtor, GRI, 941-914-4914 - here to help you with your real estate needs in Sarasota, on Siesta Key, or Venice.
LindaHrealtor.com LindaHrealtor.com/blog.
Photos are from 5120 Windward Ave. Siesta Key, FL 34242, listed by Michael Saunders & Company.
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.
Most sincerely yours,
Linda Holley
941-914-4914
1078 Eisenhower Drive, Nokomis, FL 34275
5439 Azure Way, Siesta Key, FL 34232
Gulf View on Siesta Key, JUST LISTED in Building A. 2BR 2BA condo, one of the most sought-after condominium communities on Siesta Key - AND most desirable building in Gulf & Bay. Not yet in MLS, Zillow, or Trulia...awaiting professional photography.
5790 Midnight Pass Road Unit A309, $800K. Unbelievable opportunity, this will sell quickly.
Call Linda Holley, GRI, Team Dunn, Michael Saunders & Co., 941-914-4914.
See my home page at www.LindaHrealtor.com
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
The manuscript for my book, Failure to Disclose, under my pen name of Nell Hill is finally finished, and I'll either self-publish or find an agent. If you are on Facebook, please "like" me, as social media presence makes a difference to agents in the book publishing world. https://www.facebook.com/nell.hill.9404 My writer friends, Linda L. and Joanne T. have been very helpful in editing my book - and I'm so grateful.
Before becoming a licensed Realtor, I purchased two investment properties during preconstruction in a small town 3 hours from my home town where I grew up in the 1960’s. I changed the location and names, so the setting is in Jackson Hole, Wyoming.
Prior to those purchases, I had several investment properties in Atlanta and Destin, Florida. Purchasing the new ski properties would expand my vacation rentals from beach to ski properties…that was the plan. Both locations are perfect vacation destinations for beach lovers, hikers, and skiers. However, these purchases unraveled my entire investment portfolio. The Realtors’ deception and misrepresentation formed my real estate career, and today I am determined that Buyers have all of the information they need for the purchases. Sometimes in my transactions today, agents for the Sellers believe I’m a pain to work with because I’m determined that the Buyers’ interests must be protected--many times I pay for extra inspections. Honesty is a Realtor’s number one duty, and I take that very seriously. “You’re only as good as your word,” my father would say, and that phrase is used throughout the book.
The new Jackson Hole properties were not properly designed or built for high alpine, so defects appeared immediately after closing. The book begins with the fire that almost cost me my life because the propane meters were not protected from snow and ice. Chapter 2 is about finding these properties shortly after my father’s funeral in eastern Wyoming. Many of you who follow my blog are buyers and potential buyers of second homes and investment properties in Sarasota, Venice, and Siesta Key, Florida. I understand how a person can fall in love with a condo or home when they are on vacation. Buyers beware of new construction!
Six months after these purchases, I attended real estate school and learned about the Realtor Code of Ethics and national real estate laws. In the margins of my textbook, I scribbled "Chenoa," the name of the ski condos I had just purchased. I could not write fast enough when the instructor went over the duties of Realtors, misrepresentation and the laws that protect consumers. Three years after I purchased these condos, there were many lawsuits against the developer and contractors, and I joined in as a pro se party, representing myself. I was the only homeowner who sued the Realtors because I understood their role in this small-town construction saga. My notes from real estate school were very helpful.
It is important to tell my story because first, I almost lost my life due to a construction defect. Additionally, Failure to Disclose is a tool for consumers who are thinking about buying a home under construction. It's also words of warning to Realtors what can happen if they are not totally honest and think their number one duty is closing the deal. The feedback I have received is: “I could not put it down,” and “Well written, what a horrible experience you went through!”
I hope you will "like" my author's page on Facebook, under the name Nell Hill Author and send to others who will do the same. More to follow as I move toward publication.
Thank you for reading my blog and have a good day!
Linda Holley, Realtor, GRI
This week, two law firms worked to get approval for me to buy a little $130,000 condo in an "Over 55 Community" in Sarasota that has a pet weight limit of 25 pounds. It also required two letters from my doctor to the Board of Directors. Yesterday, everything was finally approved, and closing is Monday.
Beautiful Burt Reynolds, formerly a breeder's stud is my AKC registered chocolate cocker spaniel; he is really sweet but five pounds overweight. The Homeowner's Association Board of Director's initial response to my application three weeks ago: "DISAPPROVED! WHAT PART OF 25 POUNDS DO YOU NOT UNDERSTAND?" I showed them that he weighed 26.4 pounds a couple of years ago before he was neutered but the pet policy is 25 pounds at full maturity. Who doesn't put on weight when they get a little older?
In addition to my own transaction, the past three deals I put together required legal research, phone calls, agreements, and letters from Sarasota real estate attorney Steve Greenberg with the Law Firm of Icard Merrill, and also attorney Mark Hanewich from Berlin Patten Ebling. These attorneys kept the deals together even until the last minute. In these transactions, I worked with both Buyers and Sellers.
Most people say that real estate closings are getting more difficult, and my fellow Realtors agree. Laws change fast in real estate, it takes a village and broker oversight today to get things done correctly. If you are thinking of selling your home without a Realtor, think again: you could lose a Buyer and more money than you can imagine for repairs and legal fees.
When I was a new Realtor in Atlanta with Harry Norman, Realtors, one of my tag lines was "I can help you with a smooth and seamless transaction all the way to the closing table." That was 2007, but things are much different in the world of real estate. Today, I tell Buyers, "There may be issues, so please use an attorney for the closing...we'll all be glad you did." The Seller may think they are both real estate and legal experts from the things they read on the internet so they put their gloves on and keep them on all the way to the closing table. My mechanic tells me the same thing - his customers research car repairs online and all of a sudden, they know more than he does!
In Florida, Buyers have a choice of using a title company for closings or being represented by an attorney. It costs no more for legal representation through this process. Most of the time, Buyers won't need an attorney, and title companies do an awesome job; however, every now and then there are issues, and an attorney is needed to keep things on track. I just won't take chances for Buyers and always try to get legal representation for them by checking that block in the contract--even on new construction.
Reminds me of something funny a doctor said to a person asking about surgery. The doctor said, "Going to South America and getting a dermatologist to do a facelift is like going to Alabama and getting an ENT doctor to do a breast implant."
Burt and I will move into our new home Tuesday, and although he's a grouchy old man and will have trouble adjusting, he'll be away from the mean dogs who have attacked him, and it's an issue each day when I walk him here! We will have peace of mind and maybe my hair will stop falling out! He looks like a brown rabbit on a leash, and maybe big mean dogs consider him to be a wild animal? We did not have this problem until I moved into a community that has no weight limit for dogs and young people love rescue animals.
So here we go to an Over 55 community and a Board of Directors that already hates us. Life goes on!
Have an awesome day, great weekend and thanks for reading my blog.
Michael Saunders & Company, Siesta Key, 941-914-4914
Check out my website: LindaHrealtor.com and four-year history of my blog posts: LindaHrealtor.com/blog
My Burt Reynolds is an 11-year old Cocker Spaniel and it's time for a fenced yard for my little man, so I'm out looking at homes for us. I've been an investor and now Realtor over ten years but I must keep reminding myself not to get excited and waste everyone's time looking at homes I can’t afford. I must do my homework first, but that’s not as much fun as seeing homes.
Step 1: Mortgage Prequalification. I knew what my limit was last fall, but the rates have gone up, so I can afford $30K less today with conventional financing. FHA is still a good deal with a lower down payment, and I qualify for $30k more than conventional. I wasted two days looking at homes I could not afford this week before I got the numbers from my lender. The homes I loved—and THOUGHT I could afford--were not on the FHA HUD list. When I was a new Realtor, I NEVER took people out unless then had a letter of prequalification, it's just good business. And in Atlanta where I began my real estate career, knowing who your clients are and that they have been checked out is a matter of safety. And oh my goodness, please use a well-known, reputable mortgage professional, by all means!
Step 2: Lifestyle/location. Where do I want to live? Do I want to be close to Siesta Key where my office is and where I do most of my business? Do I want the convenience of taking lunch to my grandchildren or surprising them in the morning with Dunkin Donuts before school? Or do I want to buy an affordable single-family retirement home with a nice yard for Burt Reynolds in Venice, 30 minutes away? I found four lovely possibilities yesterday with updated kitchens and baths that were under $200k, homes that would absolutely be out of my price range in Sarasota. Do I want yard work combined with the pleasure of taking my 30 patio plants and creating a beautiful large deck? Do I want to pay someone to cut my grass, and pay higher water bills? Do I really want an extra bedroom for house guests?? Living in a small place does have its benefits! Question here is that will Burt or my grandchildren be the deciding factor where I choose to live? I'll keep you informed!
Step 3: Permits: Before I look at the homes on my list, I know the age of the roof and HVAC. Those are high ticket items that must be considered when looking at comparable properties. Don't get me started on nightmares of work being done without permits or permits not being closed, which holds up closing!
Step 4: Homeowners Association/Condo Fees. Find out from your lender how much you can afford. Are the water, trash, pest control, roof maintenance/replacement and grounds maintenance included?
Step 5: Credit Score. Last fall, I was shocked at three errors on my credit report and I worked for two months to get them cleared up. This takes time, so keep up with your credit report and credit score.
Step 6: New Construction. There are many good homes in good areas, but be careful with the builder incentives. You may get $5,000 in upgrades if your use their closing company and lender, but it's been my experience with Buyers that the interest rates and closing fees are higher than the fees charged by a lender who is not affiliated with the builder.
Step 7: Credits at Closing. Buyers can a credit for closing costs, appraisal, and inspections. For a $200k purchase, I'll ask for a $5k credit from the Seller.
Step 8: Crime Reports. I was looking at a community bulletin board and found a notice about a stolen vehicle last week. That happens everywhere, but it reminded me that it’s my responsibility to get the crime reports from the Sheriff’s Department and check sex offender registry before putting in an offer.
Step 9: Survey: If I purchase a single family home, I'll be sure to get a new survey because if there are title defects, that may cost me in the future and it could affect the future marketability of the property.
Step 10: Addendum L: I'll use the Right to Inspect/Right to Cancel Addendum in the contract, which gives me the opportunity to cancel during my 15-day inspection period. Maybe the roof was replaced five years ago but if it has been leaking and repaired, that's a problem. The regular contract will not allow termination if everything is in "working order." Addendum L is just an extra security measure I always use for Buyers. Some Realtors for the Sellers don't like and try to strike - and sometimes "forget to put it back in the contract package when signed by their Seller." Yes, that happened to me recently in a condo that I just sold, but I always insist on Addendum L!
I'm here and happy to help you find your new home on Siesta, or in Sarasota, Nokomis, or Venice. New listing: 5855 Midnight Pass #217, Siesta Key, Harbor Towers, Unit 217, 2BR 2BA, Intercoastal view, $410k. See my home page at www.LindaHrealtor.com for mortgage calculator and other helpful real estate information.
Michael Saunders & Co.
5111 Ocean Blvd
Sarasota, FL 34242
Phone: 941-914-4914
Hello and thank you for reading my blog! Have a safe and happy Labor Day weekend! I'll be spending the weekend in Savannah, Georgia, so you'll hear from me when I return.
Looking for a new home in Sarasota? There are currently 10 new single family homes on the market on Siesta Key in Sarasota, Florida. I’ll be at 5332 Shadowlawn Drive when it is finished in a few weeks doing open houses (see Linda’s List below). Here's some good information for you! How do you check out a real estate developer? If you are looking at new homes in a subdivision, the developers I know in Sarasota are well established and have a pretty good reputation (Taylor Morrison, D.R. Horton, Neal). What if a Buyer finds a home under construction built by a custom builder ?
If you have followed my blog posts, you know that before I became a Realtor, I purchased two new ski condos in 2004 during the preconstruction phase. Because the quality of construction was so poor, homeowners battled contractors in court for years over defects and code violations. The Homeowners Association was awarded $450,000 for defects and it was not enough. Today, I know more about pouring concrete, stucco, plumbing lines and water pipes than I ever imagined – because no one knew what they were doing when these ski condos went up.
Buyers should have done their homework about the developer and landowner, but we did not know how! We assumed that our Realtors (who worked for a national real estate brokerage firm) had done their research and that they would keep us informed. The project was over a late being completed, and our Realtors told us about price increases and weather and equipment delays, which were acceptable by the terms of the contract.
So today, in just 10 minutes, I learned about the owner and developer of 5332 Shadowlawn Drive: Dockside Homes, LLC, an entity formed in 2010, purchased this property last year for $665,000. The developer is Allegra Homes – we know that from the MLS listing. Today, I called the Manatee Sarasota Building Industry Association, and the Administrative Officer told me that the developer has been an active member for many years, has never been behind in his dues, and was on the Association’s Board of Directors. He comes highly recommended.
I could have also gone to the website for the Association, www.ms-bia.org, and located Allegra Homes under the Member Directory tab, which includes the Allegra website. I found an abundance of information about him and his background. The developer, Rob Allegra, is a civil engineer (that’s a VERY good thing), and has been involved in developing four major subdivisions in Sarasota and Venice. These are the things that potential Buyers for 5332 Shadowlawn Drive--or the buyer for any new home--needs to know.
If I had known this in 2004 when I signed the Purchase Agreements for two ski condos, here’s what I would have found out: The owner formed an LLC in that state several months before, and his main office was out of state. He was not a member of the Building Industry Association in his home state or the state where he was building the ski condos. Red flags! I would have contacted him for references, and would have learned that his background was in banking and not property development. Searching the archives of his local newspaper, I would have read that some residents in his town had ongoing disputes about his projects. His project manager for the ski condos, who was represented in the sales brochure as having 20 years as a commercial real estate developer in a high alpine environment, was a convicted felon and had never built anything at 10,500 feet in elevation. His family owned 1,000 acres of land in the Ski Valley, and they sold a few acres to this developer; somehow in that deal, their son became the construction manager. He had built a metal storage facility in the farming community where the family lived 3 hours away, but that was the extent of his construction experience. My book, Motion to Intervene, will be out later this fall, and it shares more about this project. It has a checklist for homebuyers of things to find out before signing an agreement to purchase a home. The cool thing about this for me, was that the construction manager was from the same hometown where my father grew up, so getting all of the scoop on him was easy! I have a big, wonderful family who filled me in on the real story.
Linda’s List.
Team Dunn: Siesta Key - Excelsior Bay, 6266 Midnight Pass Road, Unit 404, new carpet and new furniture, $749,000. Gulf front with ocean-side pool and grills, 2BR 2BA 1,263 sq ft, High Season rent: $1,990 per week. Photos below and listing can be accessed through LindaHrealtor.com and enter A4189950 in the Home Search bar: Team Dunn: Siesta Key - Siesta Towers, 4822 Ocean Blvd, 2BR 2BA, Unit 11D, 1440 sq ft, eleventh floor, $879,900. Complete remodel, 2 master suites, 11th floor views of Gulf and Big Pass view of Sarasota Bay. Short walk to the beach, Siesta Key Village shops and restaurants. Photos below and at LindaHrealtor.com, and enter A4194781 in the Home Search bar.
Team Dunn: Coming soon! Palmer Ranch, Turtle Rock, Savannah, 3 BR with den, 2.5 bath, no pool, $359,900.
Listed by Michael Saunders & Company in Siesta Isles: 5332 Shadowlawn Drive, 4,085 sq ft, on the bend of Grand Canal, $2,197,500; deep water to Sarasota Bay and Gulf of Mexico, 3-car garage, upstairs game room; Go to LindaHrealtor.com and enter A4157847 in the home search field. Thank you 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. Over 13,000 people read my blog last week, THANK YOU!
Linda Holley. Realtor, GRI, Michael Saunders & Company
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.
Linda Holley. Realtor, GRI, Michael Saunders & CompanyExcelsior Bay, 6266 Midnight Pass Road, Unit 404, on Siesta Key
Housing inventory is up in Sarasota and Manatee counties and the Sarasota condo sales are up 36 percent. This is a “Seller’s market,” and the Sellers are testing the waters with higher list prices; we can expect to see a longer time between the listing and the contract and we can also expect to see some price decreases. An increase in the median price of homes isn’t always good news for Sellers because their challenge is to find a replacement home at the right price. Here are some interesting June 2017 real estate statistics for very "hot" areas in Sarasota.
My blog last week featured downtown Sarasota and the new cultural center that is being planned at Bayfront. A few blocks from Bayfront is Sarasota’s Rosemary District. “Rosemary District is to Sarasota what Brooklyn is to New York City,” according to a feature article in the August Sarasota/Manatee Realtor Magazine. It began in the early 1900’s, and prices in this eclectic neighborhood are on the rise. Rosemary District is Fruitville Road to Tenth Street and Orange Avenue to Tamiami Trail. This is an historic area that combines charm with progress with all of the amenities of city life.
Last week, I had dinner at the Blue Rooster, 1525 Fourth Street—in the Rosemary District. The Divebombers provided the entertainment. Band member George Worthmore is also a member of the New York Blues Hall of Fame. They play Rockabilly, Chet Atkins, Johnny Cash, Merle Travis, and Jerry Reed music; see photo at the end of this blog! Each Wednesday night at the Blue Rooster, Al Fuller’s Famous Blues Jam entertains from 7:30 – 10:30 p.m.
Linda’s List
A4191875, 3125 Regatta Circle in Gulf Gate Woods, 2BR, 2BA for $269,000, 15-minutes from Siesta Key Beach.
A4192195, 3857 Prairie Dunes Dr., Country Club of Sarasota, 3BR, 3BA, $469,000 near Palmer Ranch.
A4192612, 3960 Spyglass Hill Road, Country Club of Sarasota, 3BR, 2BA $475,000 near Palmer Ranch.
A4191635, 7707 Calle Facil, Prestancia Country Club and golf community, 2 BR 2.5 BA $599,900 in Palmer Ranch.
A4179797, 250 Hidden Bay Drive, Edgewater at Hidden Bay, 3BR, 2BA, $495,000 in Osprey near Nokomis Beach. (see photo below).
For more information, go to LindaHrealtor.com and enter the MLS number beginning with the letter A for photos and listing information.
Tired of paying rent? Steve Harney says that the cost to rent is higher than the cost of buying. Average rent for Sarasota is $1,650 per month and the average mortgage payment is $1,531. Lenders have programs allowing more flexibility with credit scores, and MSC Mortgage has a program with just 1% down. Call me for more info.
I signed a contract with a publisher last week for my book, Motion to Intervene. I’m very excited to share what I learned about buying properties during the pre-construction phase in a high alpine environment--before I became a Realtor. My publisher says that the book could be out by Christmas, and it will be available to order on Amazon.com and Barnes and Noble. Part of my business is by referrals, so keep in mind that regardless of your location, I have worldwide connections! We are local and we are global, so if you are here, I would love to help you with your real estate needs. If you need to buy or sell a home elsewhere, I'll be sure that you have an excellent real estate professional to help you through the process. I’m at 941-914-4914 Facebook.com/LindaHolleyLLC.
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